Document:

EX-10.1

 Exhibit 10.1 

Execution Version 
  

 
 ACAR LEASING LTD., 

as Titling Trust, 
 AMERICREDIT
FINANCIAL SERVICES, INC., 
 as Servicer, 

APGO TRUST, 
 as Settlor 

and 
 WELLS FARGO BANK, NATIONAL
ASSOCIATION, 
 as Collateral Agent 
  

 
 THIRD AMENDED
AND RESTATED 
 SERVICING AGREEMENT 

Dated as of January 24, 2018 
  

 
  

 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	 Page
	 
		
	 ARTICLE I DEFINITIONS AND INTERPRETIVE PROVISIONS
	  	 	2	 
			
	 SECTION 1.1.
	 	Definitions	  	 	2	 
	 SECTION 1.2.
	 	Other Definitional Provisions	  	 	2	 
	 SECTION 1.3.
	 	Amendment and Restatement	  	 	3	 
		
	 ARTICLE II ADMINISTRATION AND SERVICING OF LEASE AGREEMENTS
	  	 	3	 
			
	 SECTION 2.1.
	 	Duties of the Servicer	  	 	3	 
	 SECTION 2.2.
	 	Records	  	 	6	 
	 SECTION 2.3.
	 	Custodial Duties of Servicer	  	 	7	 
	 SECTION 2.4.
	 	Certificates of Title	  	 	7	 
	 SECTION 2.5.
	 	Initial Funding of Payments to Dealers	  	 	8	 
	 SECTION 2.6.
	 	Servicer’s Repurchase Obligations and Option	  	 	8	 
	 SECTION 2.7.
	 	Collections, Security Deposits, Payments Ahead and Other Receipts	  	 	10	 
	 SECTION 2.8.
	 	Settlement of Accounts	  	 	13	 
	 SECTION 2.9.
	 	Servicing Compensation	  	 	14	 
	 SECTION 2.10.
	 	Servicing Expenses and Reimbursement	  	 	14	 
	 SECTION 2.11.
	 	Repossession, Recovery and Sale of Leased Vehicles	  	 	14	 
	 SECTION 2.12.
	 	Servicer to Act on Behalf of Trustee	  	 	16	 
	 SECTION 2.13.
	 	Liability of Servicer; Indemnities	  	 	18	 
	 SECTION 2.14.
	 	Third Party Claims	  	 	19	 
	 SECTION 2.15.
	 	Insurance	  	 	19	 
	 SECTION 2.16.
	 	Subservicer	  	 	20	 
	 SECTION 2.17.
	 	Pull Ahead Lease Agreements	  	 	21	 
		
	 ARTICLE III ACCOUNTS, STATEMENTS AND REPORTS
	  	 	21	 
			
	 SECTION 3.1.
	 	Establishment of Collection Accounts	  	 	21	 
	 SECTION 3.2.
	 	Reporting by the Servicer; Delivery of Certain Documentation	  	 	23	 
	 ARTICLE IV SERVICER DEFAULTS
	  	 	24	 
	 SECTION 4.1.
	 	Servicer Defaults; Termination of Servicer	  	 	24	 
	 SECTION 4.2.
	 	No Effect on Other Parties	  	 	26	 
		
	 ARTICLE V THE SERVICER
	  	 	26	 
			
	 SECTION 5.1.
	 	Representations and Warranties	  	 	26	 
	 SECTION 5.2.
	 	Limitation on Liability of Servicer	  	 	28	 
	 SECTION 5.3.
	 	Merger	  	 	29	 
	 SECTION 5.4.
	 	Servicer Not to Resign; Assignment	  	 	29	 

  
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	 ARTICLE VI MISCELLANEOUS
	  	 	29	 
			
	 SECTION 6.1.
	 	Termination of Agreement; Transfer of Servicing Materials to Successor Servicer	  	 	29	 
	 SECTION 6.2.
	 	Amendment	  	 	30	 
	 SECTION 6.3.
	 	GOVERNING LAW	  	 	31	 
	 SECTION 6.4.
	 	Relationship of this Agreement to Other Titling Trust Documents	  	 	31	 
	 SECTION 6.5.
	 	Notices	  	 	31	 
	 SECTION 6.6.
	 	Severability of Provisions	  	 	31	 
	 SECTION 6.7.
	 	Binding Effect	  	 	32	 
	 SECTION 6.8.
	 	Table of Contents and Headings	  	 	32	 
	 SECTION 6.9.
	 	Counterparts	  	 	32	 
	 SECTION 6.10.
	 	Further Assurances	  	 	32	 
	 SECTION 6.11.
	 	Third-Party Beneficiaries	  	 	32	 
	 SECTION 6.12.
	 	No Waiver; Cumulative Remedies	  	 	32	 
	 SECTION 6.13.
	 	No Petition	  	 	32	 
	 SECTION 6.14.
	 	Series Liabilities	  	 	33	 
	 SECTION 6.15.
	 	Termination of Like Kind Exchanges	  	 	33	 
	 SECTION 6.16.
	 	Limitation of Liability	  	 	33	 

  

				                        	
	EXHIBITS	    			
		
	Exhibit A — Power of Attorney	    	 	A-1	 

  
 ii 

 THIRD AMENDED AND RESTATED SERVICING AGREEMENT, dated as of January 18, 2018 (as the same
may be further amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), among ACAR Leasing Ltd., a Delaware statutory trust (the “Titling Trust”), AmeriCredit Financial Services,
Inc., a Delaware corporation (“AmeriCredit”), as servicer (the “Servicer”), APGO Trust (“APGO”), a Delaware statutory trust, as Settlor of the Titling Trust (the “Settlor”), and
Wells Fargo Bank, National Association, a national banking association (“Wells Fargo”), as collateral agent (the “Collateral Agent”). 

RECITALS 
 WHEREAS, the parties
to this Agreement intend to amend and restate the Servicing Agreement, dated as of June 1, 2008, as previously amended and restated as of January 31, 2011 (the “Original Servicing Agreement”) and as of May 23, 2013
(the “Amended Servicing Agreement” and together with the Original Servicing Agreement, the “Prior Servicing Agreements”), among the parties, on the terms and conditions contained in this Agreement; 

WHEREAS, APGO, as the Settlor, and Wilmington Trust Company, a Delaware trust company (“WTC”), as the Owner Trustee,
Administrative Trustee and Delaware Trustee (in any or all such capacities, the “Trustee”), have entered into an Amended and Restated Trust Agreement, dated as of January 31, 2011 (as the same may be further amended, restated,
supplemented or otherwise modified from time to time, the “Titling Trust Agreement”), pursuant to which the Titling Trust was established for the purpose of, among other things, taking assignments and conveyances of and holding in
trust various assets (the “Trust Assets”); 
 WHEREAS, the Titling Trust is the borrower (in such capacity, the
“Borrower”) under a Second Amended and Restated Credit and Security Agreement, dated as of January 18, 2018 (as the same may be further amended, restated, supplemented or otherwise modified from time to time, the
“Credit and Security Agreement”), among the Borrower, Wells Fargo, as the Administrative Agent (in such capacity, the “Administrative Agent”), the Collateral Agent, and AmeriCredit, as the lender (in such capacity,
the “Lender”) and the Servicer, pursuant to which it borrows amounts from the Lender from time to time pursuant to a Lending Facility to fund its acquisition of those Trust Assets comprising Collateral Assets; 

WHEREAS, the Titling Trust and the Settlor wish to engage the Servicer to perform certain duties with respect to the Collateral Assets and all
other Trust Assets (unless and until such time as the Titling Trust and the Settlor may enter into one or more additional Series Servicing Agreements with respect to any Trust Assets that do not constitute Collateral Assets) in the manner set forth
herein; 
 WHEREAS, the parties hereto acknowledge that in connection with, among other things, the establishment from time to time of
Designated Pools comprised of Collateral Assets backing Exchange Notes that will be issued pursuant to the Credit and Security Agreement, it may be necessary or desirable to enter into supplemental agreements hereto, providing for specific servicing
obligations in connection therewith (each, a “Servicing Supplement”); and 

 NOW, THEREFORE, in consideration of the mutual agreements herein contained, and of other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS AND INTERPRETIVE PROVISIONS 

SECTION 1.1. Definitions. Capitalized terms used in this Agreement that are not otherwise defined herein shall have the meanings
assigned thereto in any Servicing Supplement entered into pursuant hereto or, if not defined therein, in Appendix A to the Credit and Security Agreement or, if not defined therein, in the Definitions Appendix to any Exchange Note Supplement entered
into pursuant to the Credit and Security Agreement. 
 SECTION 1.2. Other Definitional Provisions. 

(a) All terms defined in this Agreement shall have the defined meanings when used in any instrument governed hereby and in any certificate or
other document made or delivered pursuant hereto unless otherwise defined therein. 
 (b) As used in this Agreement, in any instrument
governed hereby and in any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined in this Agreement or in any such instrument, certificate or other document, and accounting terms partly defined in
this Agreement or in any such instrument, certificate or other document to the extent not defined, shall have the respective meanings given to them under generally accepted accounting principles as in effect on the date of this Agreement or any such
instrument, certificate or other document, as applicable. To the extent that the definitions of accounting terms in this Agreement or in any such instrument, certificate or other document are inconsistent with the meanings of such terms under
generally accepted accounting principles, the definitions contained in this Agreement or in any such instrument, certificate or other document shall control. 

(c) The words “hereof,” “herein,” “hereunder” and words of similar import when used in this Agreement shall
refer to this Agreement as a whole and not to any particular provision of this Agreement; Section, Schedule and Exhibit references contained in this Agreement are references to Sections, Schedules and Exhibits in or to this Agreement unless
otherwise specified; and the term “including” shall mean “including without limitation.” 
 (d) The definitions
contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. 

(e) Any agreement, instrument or statute defined or referred to herein or in any instrument or certificate delivered in connection herewith
means such agreement, instrument or statute as from time to time amended, modified or supplemented and includes (in the case of agreements or instruments) references to all attachments thereto and instruments incorporated therein; references to a
Person are also to its permitted successors and assigns. 

  
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 SECTION 1.3. Amendment and Restatement. This Agreement amends and restates in full the
Amended Servicing Agreement, with effect as of the date of this Agreement, and the parties confirm that (a) all prior actions made pursuant to the Prior Servicing Agreements are effective as if made under this Agreement on the date made, and
(b) no provision of this Agreement is intended to result in the duplication of any such prior action by any party. 
 ARTICLE II 

ADMINISTRATION AND SERVICING OF LEASE AGREEMENTS 

SECTION 2.1. Duties of the Servicer. 

(a) The Servicer shall service, administer and collect under the Lease Agreements and in respect of the Leased Vehicles in accordance with
this Agreement, the Titling Trust Agreement and the Credit and Security Agreement and shall have full power and authority, acting alone and subject only to the specific requirements and prohibitions hereof and thereof, to do any and all things in
connection with such servicing, administration and collection that it may reasonably deem necessary or desirable in the interests of the Titling Trust and to serve in such capacity unless and until its responsibilities therefor are terminated
pursuant to Section 4.1(a) or this Agreement is terminated pursuant to Section 6.1. In addition, the Titling Trust hereby appoints the Servicer to act as agent in the management and control of the Collateral Assets, including the
Certificates of Title, and for all other purposes set forth in this Agreement. The duties of the Servicer shall include, among other things, in accordance with this Agreement, the Titling Trust Agreement, the Credit and Security Agreement and any
Servicing Supplement: 
 (i) performing on behalf of the Titling Trust all obligations on the part of the Lessor under the
Lease Agreements; 
 (ii) acquiring vehicles and originating Lease Agreements on behalf of the Titling Trust; 

(iii) collecting and processing payments (including excess wear, damage and mileage deficiency balances on Liquidated Leases),
responding to inquiries of Lessees or federal, State or local government authorities with respect to the Lease Agreements, investigating and collecting delinquencies, sending payment statements and reporting Tax information to relevant parties,
paying costs of the sale or other disposition of Matured Vehicles and Leased Vehicles in accordance with the Customary Servicing Practices and this Agreement and paying or causing to be paid all state and local personal property, use, excise and
sales Taxes on the Leased Vehicles (to the extent required to be paid by the Lessor under applicable State law) as and when such Taxes become due; 

(iv) negotiating Lease Agreements nearing their respective Maturity Dates and arranging for Extensions of such Lease
Agreements and/or sale or other disposition of each related Leased Vehicle; 

  
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 (v) executing and delivering or causing to be executed and delivered, in its own
name or in the name of the Titling Trust, as the case may be, any and all instruments, certificates or other documents necessary or advisable in connection with the servicing or administering of or collecting under the Lease Agreements and in
respect of the Leased Vehicles, including: (A) bills of sale; (B) applications for originals or duplicates of Certificates of Title in the name of any Titling Trust Permissible Name and naming the Collateral Agent as lienholder,
applications for registrations of Leased Vehicles or license plates, applications for transfers of Certificates of Title or registrations for Leased Vehicles or license plates and any instruments, certificates or other documents which the Servicer
deems necessary or advisable to record, maintain or release title to or registration of Leased Vehicles in the manner contemplated hereby; (C) consents, amendments, extensions, deferrals or modifications to any of the Lease Agreements; and
(D) all other instruments, certificates or other documents similar to the foregoing; 
 (vi) executing powers of
attorney to be delivered for the limited purpose of obtaining license plates and fulfilling other state requirements for registration of the Leased Vehicles; 

(vii) approving repairs to Leased Vehicles and endorsing the related insurance settlement checks for repair work; 

(viii) servicing the Lease Agreements, including: (A) accounting for collections and furnishing periodic statements with
respect to distributions as set forth herein, in the applicable Servicing Supplement, in the Credit and Security Agreement or in the applicable Servicer Basic Documents, (B) generating or causing to be generated federal and State tax
information and, to the extent required by applicable law, returns on behalf of the Titling Trust and (C) filing periodic sales and use Tax or property (real or personal) Tax reports; 

(ix) in connection with the creation and maintenance of the Lending Facility Pool and each Designated Pool, maintaining
separate and distinct records for the Lending Facility Pool and each Designated Pool and separately accounting for the Trust Assets allocated to the Lending Facility Pool and each Designated Pool, including, with respect to (A) the Lending
Facility, preparing and delivering to the Lender, the Owner Trustee and the Collateral Agent a schedule of Lease Agreements and Leased Vehicles allocated to the Lending Facility Pool and (B) any Exchange Note, to the extent provided in the
related Servicing Supplement, preparing and delivering to the related Exchange Noteholder a schedule containing information with respect to the Lease Agreements and Leased Vehicles comprising the related Designated Pool, which schedule of Lease
Agreements and Leased Vehicles and each such information schedule shall contain information as of the most recent Collection Period prior to the date of such delivery; 

(x) applying for and maintaining the licenses and the filings described in Section 2.12(b) or in any Servicing
Supplement; 
 (xi) preparing and filing any UCC financing statements; 

  
 4 

 (xii) except to the extent prohibited in the related Servicing Supplement with
respect to any Designated Pool, taking such actions as are required or desirable to effect Like Kind Exchanges for tax purposes or otherwise in connection with Like Kind Exchanges, including but not limited to (A) reallocating Leased Vehicles
from the related Designated Pool to the Lending Facility Pool on the books and records of the Titling Trust, (B) making the payments described herein on the relevant Exchange Note in connection with such reallocation of Liquidated Vehicles,
(C) causing the assignment of the Net Liquidation Proceeds relating to each such Leased Vehicle to the Qualified Intermediary and directing the Qualified Intermediary, the Owner Trustee, the Collateral Agent and the Titling Trust with respect
to the use of Net Liquidation Proceeds to obtain Replacement Vehicles and exchanging Replacement Vehicles for Liquidated Vehicles, (D) assigning and allocating Replacement Vehicles to the Lending Facility Pool and (E) taking such other
actions as shall be necessary or advisable in connection with implementing such Like Kind Exchanges; 
 (xiii) acting as
agent of the Titling Trust with respect to holding the Collateral Leases and Certificates of Title relating to the Collateral Leased Vehicles; and 

(xiv) such other activities as shall be necessary or advisable in connection with the foregoing. 

(b) The Servicer agrees that its servicing of the Lease Agreements and the Leased Vehicles shall be carried out in accordance with the
Customary Servicing Practices using the same degree of skill and attention (i) as the Servicer exercises from time to time with respect to all comparable Lease Agreements and Leased Vehicles that it services for itself or others or (ii) if
AmeriCredit is no longer the Servicer, as is customarily exercised by prudent servicers employed to service retail leases of motorcycles, automobiles, sport utility vehicles, minivans or light-duty trucks, as applicable, for themselves or others.

 (c) The Servicer may retain subservicers or agents by agreement, power of attorney or otherwise to assist the Servicer in performing its
servicing functions; provided, however, that any delegation of duties to any subservicer or agent shall not relieve the Servicer of any of its obligations hereunder. 

(d) The Servicer is authorized to, in its own name or in the name of the Titling Trust, commence, defend against or otherwise participate in a
Proceeding relating to or involving the protection or enforcement of the interests of the Titling Trust, an Exchange Noteholder or other Secured Party in any Lease Agreement, Leased Vehicle or other Trust Asset. If the Servicer shall engage in
collection of delinquent amounts or commence, defend against or otherwise participate in a Proceeding in its own name or in the name of the Titling Trust, a relevant Exchange Noteholder or other Secured Party, each such Person shall thereupon be
deemed to have automatically assigned its interest in (including legal title to) the related Lease Agreement, Leased Vehicle or other Trust Asset, as applicable, to the Servicer to the extent necessary for the purposes of such Proceeding. 

(e) The Titling Trust and the Collateral Agent shall furnish the Servicer with certain revocable powers of attorney and other documents in
form and substance acceptable to the Titling Trust or the Collateral Agent, as applicable, necessary or appropriate to enable the Servicer to carry out its servicing, administration and collection duties hereunder and under each applicable Servicing
Supplement. 

  
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 SECTION 2.2. Records. 

(a) Except as otherwise provided in a related Servicing Supplement, the Servicer shall maintain accurate and complete accounts, records and
computer systems with respect to all funds and other receipts with respect to (i) the Lending Facility and the Lending Facility Pool, (ii) each Exchange Note and the related Designated Pool, (iii) the Trust Assets and (iv) all
matters related directly to the servicing of the Lease Agreements and the Leased Vehicles, in each case as are consistent with the Customary Servicing Practices. Such accounts, records and computer systems shall indicate, among other things, the
Pool to which each Lease Agreement, Leased Vehicle or other Trust Asset is allocated and reflect the interest of the Settlor or the Related Beneficiary, as applicable, therein. Except where otherwise noted in the definition of “Lease
Documents”, the Servicer may originate and/or maintain each Lease Document as an image, fiche or electronic record rather than in original form. The Servicer shall not be required to physically segregate the Lease Documents and related
accounts, records and computer systems from any other leases, leased vehicle and related information and related documentation from other leases or leased vehicles that it services. In accordance with the Customary Servicing Practices, the Servicer
shall conduct, or cause to be conducted, periodic examinations of a representative sample of the Lease Documents and of the related accounts, records and computer systems to verify compliance with the Customary Servicing Practices. 

The Servicer shall promptly report to the Titling Trust, the Administrative Agent and the Collateral Agent any material failure on the part of
the Servicer to hold or retain possession of the Lease Documents and maintain its accounts, records and computer systems in accordance with the requirements of this Agreement. The Servicer shall promptly take appropriate action to remedy any such
failure. 
 (b) The Servicer shall make available to the Titling Trust, the Administrative Agent and the Collateral Agent or their duly
authorized representatives, attorneys or auditors the Lease Documents and the related accounts, records and computer systems maintained by the Servicer or any subservicer or agent of the Servicer at such times during normal business hours as the
Titling Trust, the Administrative Agent or the Collateral Agent shall reasonably instruct at the locations where maintained pursuant to this Agreement. 

(c) In the exercise of its duties and powers hereunder, the Servicer may release any Lease Document or other related item to the Titling Trust
or a related Exchange Noteholder on behalf of the Titling Trust or its agent or designee, as the case may be, at such place or places as the Titling Trust or related Exchange Noteholder may designate. The Servicer shall not be responsible for any
loss occasioned by the failure of the Titling Trust or any related Exchange Noteholder to return any document or for any unreasonable delay in doing so. 

(d) The Servicer shall develop and maintain back-up procedures and other safeguards against the
destruction, loss or alteration of data as well as a disaster recovery system. Such procedures, safeguards and disaster recovery system shall include procedures for creating and maintaining back-up files,
maintaining computer tapes, disks and/or documents in off-site storage, and maintaining a battery or generator back-up system for the Servicer’s computer system,
and shall meet the requirements of applicable law or regulation. 

  
 6 

 (e) The Servicer shall implement reasonable security measures and procedures to protect data,
records and other documents related to its duties hereunder from unauthorized access by third parties. 
 SECTION 2.3. Custodial Duties
of Servicer. The Servicer shall serve as custodian of the Lease Documents for the benefit of the Titling Trust and the Collateral Agent. The Lease Documents are hereby constructively delivered to the Titling Trust with respect to each Lease
Agreement and Leased Vehicle. In its capacity as custodian, the Servicer shall maintain possession of the Lease Documents for the benefit of and as bailee for the Titling Trust and the Collateral Agent and all present and future Secured Parties. All
Lease Documents shall be identified and maintained in such a manner so as to permit retrieval and access. With respect to any Lease Agreements and Leased Vehicles that are allocated to a Designated Pool pursuant to an Exchange Note Supplement, the
custodial duties of the Servicer as related to the Lease Documents relating to such allocated Lease Agreements and Leased Vehicles will be set forth in the related Servicing Supplement. 

SECTION 2.4. Certificates of Title. 

(a) In connection with the filing of the application for each Certificate of Title, the Servicer shall arrange, or cause to be arranged, in
accordance with applicable law, for the related Registrar of Titles to issue and deliver to or upon the order of the Servicer a Certificate of Title identifying the Titling Trust (subject to the applicable terms of any Servicing Supplements, by the
use of any Titling Trust Permissible Name or the use of a quoted phrase or such other similar phrase as will satisfy the Registrar of Titles in each relevant jurisdiction, or such other designation(s) as the Servicer shall determine) as the owner of
the related Leased Vehicle and the Collateral Agent as lienholder with respect to the related Leased Vehicle; provided, however, that nothing herein shall be deemed or construed to require the Servicer to receive a paper Certificate of
Title in any State where the Servicer and the related Registrar of Titles have agreed to record and disclose the interests of the Titling Trust and the Collateral Agent in any electronic title recording system maintained by such Registrar of Titles.
The Certificates of Title shall be held by the Servicer. The Servicer shall direct each Dealer, Assigning Affiliate or other entity selling Leased Vehicles to the Titling Trust, assigning Lease Agreements to the Titling Trust or causing Lease
Agreements to be assigned to the Titling Trust to cause each Certificate of Title to identify the owner of the Leased Vehicle as the Titling Trust (utilizing any Titling Trust Permissible Name), the name of a
co-trustee as may be required under applicable State law or such other designation as may be agreed upon by the Servicer and the Settlor or, subject to the terms of the applicable Servicing Supplement, the
related Secured Party, as applicable, from time to time that is acceptable to the related Registrar of Titles. The Servicer shall further direct each Dealer, Assigning Affiliate or other entity selling Leased Vehicles to the Titling Trust assigning
Lease Agreements or causing Lease Agreements to be assigned to the Titling Trust to cause each Certificate of Title to identify the lienholder with respect to the related Leased Vehicle as the Collateral Agent. 

  
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 (b) Except as otherwise required by applicable law, the related Registrar of Titles or the
Customary Servicing Practices, the Servicer shall direct each Dealer or Assigning Affiliate to include an address as specified by the Servicer as the mailing address for the Certificate of Title, the address of the related lessee as the mailing
address for the vehicle registration, and otherwise to comply with the Servicer’s normal requirements under the Dealer Agreements with respect to each Lease Agreement, Leased Vehicle and Certificate of Title. Except as otherwise required by
applicable law or the applicable Registrar of Titles, so long as a Leased Vehicle is owned by the Titling Trust, the Servicer shall not permit the related Certificate of Title to identify any entity, or to provide for any Liens to be noted thereon,
other than in compliance with Section 2.4(a). 
 (c) Upon transfer to or from the Titling Trust of legal title to any Leased Vehicle,
the Servicer shall cause all applicable Taxes to be paid and will comply with all applicable federal and State law requirements related to the transfer of title to such Leased Vehicle. The Servicer shall remain liable for all applicable Taxes if not
paid. 
 SECTION 2.5. Initial Funding of Payments to Dealers and Assigning Affiliates. In the ordinary course of its business,
AmeriCredit shall maintain or enter into Dealer Agreements with Dealers eligible to generate Lease Agreements. AmeriCredit shall direct each Dealer and Assigning Affiliate (a) to assign to the Titling Trust all Lease Agreements and the related
Leased Vehicles, (b) to transfer to the Titling Trust all Lease Agreements and the related Leased Vehicles and (c) to apply or caused to be applied for the Certificates of Title to the Leased Vehicles sold to the Titling Trust by such
Dealer or Assigning Affiliate to be issued in a manner that satisfies the requirements of Section 2.4(a). AmeriCredit will instruct each Dealer and Assigning Affiliate to deliver the applicable Lease Documents to or upon the order of the
Servicer. The Titling Trust shall pay each Dealer and Assigning Affiliate an amount agreed upon between the Titling Trust or the Servicer and such Dealer or Assigning Affiliate from Advances made by the Lender to the Titling Trust under the Credit
and Security Agreement. 
 SECTION 2.6. Servicer’s Repurchase Obligations and Option. 

(a) The Servicer hereby represents and warrants to the other parties hereto and the parties to the Titling Trust Agreement that, as to each
Lease Agreement and Leased Vehicle as of the relevant Assignment Date, the provisions of Section 2.4 with respect to such Lease Agreement and the application(s) for the related Certificate(s) of Title have been satisfied. The Titling Trust
shall rely on such representation and warranty in accepting each Lease Agreement and Leased Vehicle. Such representation and warranty shall survive the transfer of each Lease Agreement and each related Leased Vehicle, and delivery of the related
Lease Documents to the Titling Trust pursuant to the Titling Trust Agreement and this Agreement. 

  
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 (b) Upon (i) discovery by the Servicer or a Secured Party, or (ii) the receipt of
written notice by or actual knowledge of a Responsible Officer of the Owner Trustee that the representation or warranty in Section 2.6(a) was incorrect as of the related Assignment Date in a manner that materially adversely affects the interest
of the Titling Trust in the related Lease Agreement or a related Leased Vehicle or the security interest of the Collateral Agent in the related Lease Agreement or a related Leased Vehicle, the Person discovering such incorrectness (if other than the
Servicer) shall give prompt written notice to the Servicer and the Collateral Agent. Except as otherwise provided in the applicable Exchange Note Supplement or Servicing Supplement, on or before the last day of the Collection Period that ends at
least thirty (30) days after the Servicer discovers or is notified of such incorrectness, the Servicer shall cure in all material respects the circumstance or condition with respect to which the representation or warranty was incorrect as of
the related Assignment Date (it being understood that the filing of a corrected application for a Certificate of Title with the appropriate Registrar of Titles shall constitute a cure for any breach of a representation or warranty related to the
failure of the Servicer to hold title in the manner described in such Section). If the Servicer will be unable or unwilling to cure such circumstance or condition by such date, on the Payment Date following the Collection Period that ends at least
thirty (30) days after the Servicer discovers or is notified of the incorrectness of the representation or warranty in question, the Servicer shall (i) deposit (or cause to be deposited) into the related Collection Account an amount equal
to the Repurchase Payment and (ii) if such Lease Agreement or Leased Vehicle is (A) part of a Designated Pool, direct the Owner Trustee either to reallocate such Lease Agreement or Leased Vehicle from the related Designated Pool to the
Lending Facility Pool or to cause such Lease Agreement or Leased Vehicle to be conveyed to the related Dealer or Assigning Affiliate as described below or to the Servicer or (B) part of the Lending Facility Pool, unless otherwise directed by
the Servicer, direct the Owner Trustee to cause the Lease Agreement or Leased Vehicle to be conveyed to the related Dealer or Assigning Affiliate as described below or to the Servicer. If the Servicer receives funds from a Dealer or Assigning
Affiliate pursuant to such Dealer’s or Assigning Affiliate’s obligation under a Dealer Agreement or otherwise to repurchase a Lease Agreement or Leased Vehicle that is required to be repurchased or reallocated pursuant to this Section, the
Servicer shall return to such Dealer or Assigning Affiliate the Lease Agreement and/or Leased Vehicle, as applicable, and any Certificate of Title that has been issued with respect to such Leased Vehicle. Such deposit of funds in an amount at least
equal to the Repurchase Payment received from a Dealer or Assigning Affiliate, as the case may be, shall satisfy the Servicer’s obligations pursuant to this Section and shall be deemed to constitute payment in full of the Repurchase Payment
with respect thereto. 
 (c) If the domicile of or title to a Leased Vehicle is changed by a Person other than the Titling Trust, Owner
Trustee, Collateral Agent, Settlor or Servicer and such change would be likely to result in the Titling Trust doing business in a Restricted Jurisdiction, then on the Payment Date related to the Collection Period that ends at least thirty
(30) days after the Servicer discovers or is notified of such change, the Servicer shall purchase such Lease Agreement and the related Leased Vehicle by either (i) depositing to the related Collection Account an amount equal to the
Repurchase Payment or (ii) appropriately segregating and designating an amount equal to the Repurchase Payment on its records, pending application thereof pursuant to this Agreement. 

(d) The purchase by a Dealer or an Assigning Affiliate of a Lease Agreement and/or Leased Vehicle, as the case may be, pursuant to this
Section shall be deemed to cure the breach of representation or warranty or other situation giving rise to the repurchase obligation for purposes of this Agreement. Upon any such purchase, the Titling Trust shall be deemed to transfer, assign, set
over and otherwise convey to the Servicer (or the related Dealer, as applicable), without recourse, representation or warranty, all of the Titling Trust’s interest in the repurchased Lease Agreement and Leased Vehicle, including all monies due
or to become due with respect thereto after the date of such repurchase and all proceeds thereof. 

  
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 (e) Except as otherwise set forth herein or in the related Supplement or Servicing Supplement,
the sole remedy of the Titling Trust, the Settlor and the related Exchange Noteholder with respect to (i) the incorrectness of a representation and warranty set forth in Section 2.6(a) or (ii) a change of domicile of a Leased Vehicle
resulting in the Titling Trust doing business in a Restricted Jurisdiction shall be to require the Servicer to deposit the applicable Repurchase Payment (or such amount as specified in the Servicing Supplement) in the related Collection Account and
thereby purchase the applicable Lease Agreement and Leased Vehicle as provided in this Section. The obligations of the Servicer under this Section shall survive any partial or complete termination of the Servicer hereunder. 

(f) Notwithstanding the foregoing, the Servicer may purchase a Matured Vehicle at any time. If such Leased Vehicle is allocated to
(i) the Lending Facility Pool, the purchase price shall equal the Contract Residual Value relating to such Lease Vehicle as of the related Maturity Date or (ii) a Designated Pool, the purchase price shall be determined as set forth in the
related Servicing Supplement. 
 SECTION 2.7. Collections, Security Deposits, Payments Ahead and Other Receipts. 

(a) The Servicer shall use commercially reasonable efforts to (i) collect all payments or balances required under each Lease Agreement
and (ii) cause all payments required under its Lease Agreement to be made, accompanied by an invoice, payment coupon or electronic funds transfer notice bearing the lease number to which such payment relates. Consistent with the foregoing and
in accordance with its Customary Servicing Practices, the Servicer may in its discretion waive any late payment or extension or deferral charge, in whole or in part, in connection with delinquent payments on or Extensions of a Lease Agreement. The
Servicer shall account to the Titling Trust for the Trust Assets related to each Pool separately in accordance with this Agreement and the other Basic Documents. 

(b) With respect to any Collections and Payments Ahead received by the Servicer: 

(i) Within two (2) Business Days after receiving any check or other receipt related to a Lease Agreement or a related
Leased Vehicle, or with respect to a payment that was remitted improperly or that relates to an amount in dispute, within a reasonable time period, the Servicer shall enter into its computer system the following information, to the extent available:
(A) the amount of the receipt, (B) the lease number to which such payment relates, (C) the nature of the payment, (D) the date of receipt of such payment and (E) the Pool to which such Lease Agreement and the related Leased
Vehicle has been allocated (collectively, the “Payment Information”). 
 (ii) As to any such funds received
by the Servicer for which the Servicer does not have all Payment Information, the Servicer shall enter into its computer system all available Payment Information and use its commercially reasonable efforts to obtain all missing Payment Information
as soon as practicable and shall enter the remaining Payment Information into its computer system upon receipt thereof. 

  
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 (iii) The Servicer shall cause the portions of the Administrative Charge
representing allocations of Taxes to be paid or the Servicer shall pay all such amounts as are contemplated by the related Lease Agreement. 

(iv) By the later of the close of business on (A) the second (2nd)
Business Day after receipt or (B) the day on which all related Payment Information is received by the Servicer, the Servicer shall, except as otherwise provided in a related Servicing Supplement, either (1) deposit into the related
Collection Account all such funds other than (x) Administrative Charges and (y) Disposition Expenses, Liquidation Expenses and Insurance Expenses to be reimbursed to the Servicer pursuant to Section 2.11 (it being understood that in
the case of proceeds from the sale or other disposition of a Leased Vehicle that is the subject of a Like Kind Exchange which are part of Collections, the Servicer instead shall make deposits into the related Collection Account when due in
accordance with Section 2.11) or (2) appropriately segregate and designate such funds on its records, pending application thereof pursuant to this Agreement. 

(v) In connection with Like Kind Exchanges, if the Servicer has reallocated any Leased Vehicles from the relevant Designated
Pool to the Lending Facility Pool, by the later of the close of business on (A) the second Business Date after receipt or (B) the day on which all related Payment Information is received by the Servicer, the Servicer shall, except as
otherwise provided in a related Servicing Supplement, cause the Titling Trust to assign the related Net Liquidation Proceeds from the Lending Facility Pool to a Qualified Intermediary to permit the Qualified Intermediary to purchase a Replacement
Vehicle. 
 (vi) If the Servicer receives any Payment Ahead with respect to a Lease Agreement it shall maintain appropriate
records so as to enable it to timely apply such Payment Ahead as an Applied Payment Ahead on the succeeding Payment Due Dates for the related Lease Agreement. On such succeeding Payment Due Dates, the Servicer shall deposit the related Applied
Payment Ahead to the related Collection Account and indicate the corresponding reduction in the Retained Payment Ahead in its records. 

Notwithstanding any other provision in this Section, except as otherwise set forth in the applicable Servicing Supplement, the Servicer shall
be permitted to retain the amounts provided for in such Section received during a Collection Period until such amounts are required to be disbursed on the related Payment Date. 

(c) With respect to Security Deposits: 

(i) Subject to Section 6.1(b), the Servicer shall treat all Security Deposits remitted to it (or deemed remitted to it)
in accordance with the Customary Servicing Practices as agent, custodian and bailee for the Titling Trust and as proceeds of the Lease Agreements, pending application of the proceeds thereof pursuant to clause (ii) below. 

  
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 (ii) The Servicer shall apply the proceeds of each Security Deposit in accordance
with applicable law, the Customary Servicing Practices and the terms of the related Lease Agreements, including payment of shortfalls resulting from the related lessee’s default or failure to make payments required by the related Lease
Agreement or from damage to the related Leased Vehicle. Upon termination of a Lease Agreement, the Servicer shall return to the related lessee any portion of the related Security Deposit remaining after deducting any amounts permitted under
applicable law and the related Lease Agreement. To the extent permitted by applicable law and the related Lease Agreement, if a Lease Agreement becomes a Defaulted Lease or a Liquidated Lease, then the related Security Deposit shall become
Liquidation Proceeds, which the Servicer shall apply (net of any Liquidation Expenses) to amounts owed by the related lessee under such Lease Agreement. 

(iii) Except as otherwise required by applicable law, (A) the Servicer shall not be required to segregate Security
Deposits from its own funds and (B) any income earned from any investment on the Security Deposits by the Servicer shall be for the account of the Servicer as additional compensation. 

(d) With respect to any other funds received by the Servicer or the Owner Trustee related to any Trust Asset, upon receipt the Servicer shall
either (i) deposit such funds to the related Collection Account or (ii) appropriately segregate and designate such funds on its records, pending application thereof pursuant to this Agreement and any applicable Servicing Supplement. 

(e) The Servicer shall from time to time, in accordance with the Titling Trust Agreement or an applicable Exchange Note Supplement or
Servicing Supplement, (i) identify and allocate on the books and records of the Titling Trust certain Lease Agreements and Leased Vehicles into one or more Designated Pools, either upon the initial creation of such Designated Pool or
periodically following its creation, and direct the Owner Trustee to transfer periodically from and to the related accounts of the Titling Trust (A) such funds as are provided for in such Exchange Note Supplement or Servicing Supplement in
connection with any such transfer of Trust Assets and (B) such Designated Pool’s appropriate share of the liabilities of the Titling Trust, as determined in accordance with the Titling Trust Agreement and such Exchange Note Supplement or
Servicing Supplement. 
 (f) In connection with any Like Kind Exchange, the Servicer may, from time to time, in accordance with the Titling
Trust Agreement or an applicable Exchange Note Supplement or Servicing Supplement (including any provision governing the payment of advances by the Servicer), subject to Section 2.11, (i) identify and reallocate or cause to be identified and
reallocated certain Leased Vehicles from the related Designated Pool to the Lending Facility Pool on the books and records of the Titling Trust, and (ii) transfer or cause to be transferred from the Lender Pool to the relevant Exchange Note
Collection Account an amount equal to the Net Liquidation Proceeds of such Liquidated Vehicles as payment for such reallocation. 

  
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 SECTION 2.8. Settlement of Accounts. 

(a) On or before each Determination Date, the Servicer shall deliver, (i) to the Owner Trustee, the Settlor, the Lender, the
Administrative Agent and the Collateral Agent, a monthly report with respect to the Lending Facility Pool (the “Monthly Lending Facility Pool Report”) and (ii) except as otherwise provided in the related Servicing Supplement,
to the each related Secured Party, a monthly report with respect to each Designated Pool (each, a “Monthly Exchange Note Report”), in each case, documenting, as applicable, (A) all advances to be made to, and distributions
(including Servicer reimbursements) to be made from, the related Collection Account or (B) the manner in which the Servicer will apply all collections on the related Pool received by the Servicer on or prior to the next Payment Date. 

(b) The Servicer shall, from time to time, determine the respective amounts and recipients and: 

(i) as and when required by and as provided in this Agreement, the Credit and Security Agreement or a related Servicing
Supplement, transfer from the related Collection Account to the Servicer any due and unpaid Servicing Fees; 
 (ii) as and
when required by the Titling Trust Agreement, this Agreement, the Credit and Security Agreement or a related Exchange Note Supplement or Servicing Supplement, transfer from the Lending Facility Collection Account any expenses or liabilities for
which reimbursement is authorized hereunder or thereunder to the Person entitled thereto; 
 (iii) as and when required by a
related Exchange Note Supplement or Servicing Supplement, transfer from the related Exchange Note Collection Account to the Lending Facility Collection Account funding for each Exchange Note’s share of any allocable expenses or losses for which
reimbursement is authorized by the Titling Trust Agreement, the or such Exchange Note Supplement or Servicing Supplement to the extent not otherwise provided for in this Section; 

(iv) as and when required in connection with the Basic Documents relating to a Transaction, transfer from the related
Collection Account to the related Distribution Account such amounts as are required to be distributed from time to time in connection with such Transaction; and 

(v) as and when required by the Titling Trust Agreement or a related Exchange Note Supplement or Servicing Supplement,
transfer between the related Collection Accounts any other funds as provided for in the Titling Trust Agreement, the Credit and Security Agreement or any such Exchange Note Supplement or Servicing Supplement. 

(c) Anything to the contrary notwithstanding, the Servicer shall be entitled to make any of the foregoing transfers by appropriately
segregating and designating the relevant funds on its records, pending application thereof in accordance with this Agreement. 

  
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 SECTION 2.9. Servicing Compensation. 

(a) As compensation for the performance of its obligations under this Agreement, and subject to any applicable Servicing Supplement, the
Servicer shall be entitled to receive (i) with respect to the Lending Facility Pool, the Lending Facility Pool Servicing Fee and (ii) with respect to any Designated Pool, the Designated Pool Servicing Fee and such additional compensation
as may be provided for in the related Servicing Supplement. In servicing the Trust Assets allocated to a particular Pool, such servicing compensation shall be calculated based only on such Trust Assets and shall be deemed to be an expense incurred
only with respect to such Pool. The Lending Facility Pool Servicing Fee shall be calculated on the basis of a 360-day year consisting of twelve (12) thirty (30) day months. 

(b) Unless otherwise provided in a Servicing Supplement, the Servicer shall be entitled to additional servicing compensation with respect to
the related Trust Assets in the form of Administrative Charges to the extent that such amounts are not required for the payment of insurance premiums, Taxes or similar charges or other charges required to be paid to Dealers, Assigning Affiliates or
other third parties allocable to the Lease Agreements and investment earnings on Security Deposits. 
 SECTION 2.10. Servicing Expenses
and Reimbursement. 
 (a) Subject to any applicable Servicing Supplement, the Servicer shall pay all expenses incurred by it in
connection with its servicing activities and shall not be entitled to reimbursement of such expenses except for unpaid Disposition Expenses, Insurance Expenses and Liquidation Expenses. The Servicer may advance Disposition Expenses, Insurance
Expenses, Liquidation Expenses and Administrative Charges to the extent required to service the related Trust Assets. The Servicer shall be entitled to be reimbursed for Disposition Expenses, Insurance Expenses and Liquidation Expenses to which it
is entitled by depositing only Net Liquidation Proceeds to the related Collection Account or by appropriately segregating and designating such funds on its records, pending application thereof. 

(b) Except as otherwise provided in an Exchange Note Supplement or Servicing Supplement, the Servicer may obtain on any day from the Titling
Trust, out of the related Collection Account, reimbursement for any Disposition Expenses, Insurance Expenses and Liquidation Expenses for the related Pool for any or all prior Collection Periods; provided, that the Servicer shall have
delivered to the Owner Trustee an Officer’s Certificate setting forth the calculation of such Disposition Expenses, Insurance Expenses and Liquidation Expenses. 

SECTION 2.11. Repossession, Recovery and Sale of Leased Vehicles. 

(a) Subject to Section 2.12(b) and the related Exchange Note Supplement or Servicing Supplement, the Servicer shall use commercially
reasonable efforts to sell or otherwise dispose of any Matured Vehicle not purchased by the lessee, by a Dealer or Assigning Affiliate and to repossess or recover and sell or otherwise dispose of any Liquidated Vehicle. In accordance with the
foregoing standards, the Servicer shall follow such practices and procedures as are consistent with the standards set forth in Section 2.1 (b), which may include (i) engaging in self-help repossession to the extent permitted under
applicable law, (ii) exercising efforts to realize upon Dealer Recourse as the Servicer may determine in its sole discretion, (iii) consigning a Leased Vehicle to a Dealer or Assigning Affiliate for resale or release (to the extent
permitted by applicable law), (iv) selling a Leased Vehicle at public or private sale in a commercially reasonable manner, (v) commencing and prosecuting Proceedings with respect to such Lease Agreement or a related Leased Vehicle or
(vi) taking any actions as are necessary or desirable in order to transfer a Leased Vehicle in a transaction that qualifies or will qualify as a Like Kind Exchange, in each case in compliance with the related Lease Agreement and all applicable
laws. 

  
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 (b) The Servicer shall not be required to expend its own funds in repairing a Leased Vehicle that
has been damaged by reason of an event for which the related lessee was not required under its Lease Agreement to obtain casualty or other insurance or maintain such insurance in full force and effect, unless the Servicer shall reasonably determine
that such expenditure is likely to enhance Net Liquidation Proceeds. The Servicer shall expend funds in connection with the repossession and recovery or sale or other disposition of any Leased Vehicle (and such expense shall be deemed a Liquidation
Expense) only to the extent that it reasonably determines that anticipated Liquidation Expenses will not exceed anticipated Liquidation Proceeds. Except as otherwise provided in the related Servicing Supplement, the Servicer shall be reimbursed for
Disposition Expenses and Liquidation Expenses as provided in Section 2.10. The Titling Trust shall grant to the Servicer a Power of Attorney, and the Servicer, as “Grantee” thereunder, with full power of substitution, shall give
prompt notice to the Owner Trustee upon any such substitution. 
 (c) In connection with any Like Kind Exchange, the Servicer shall direct
or cause to occur all necessary action under such program, including: 
 (i) In order to effect Like Kind Exchanges, the
Servicer shall be permitted from time to time to reallocate Leased Vehicles on the books and records of the Titling Trust from the relevant Designated Pool to the Lending Facility Pool prior to the sale or other disposition of such Leased Vehicles
in accordance with the terms of this Agreement and, with respect to any Leased Vehicle allocated to a Designated Pool, the related Servicing Supplement. Furthermore, in order to effect Like Kind Exchanges, the Servicer shall be permitted from time
to time to assign the Net Liquidation Proceeds relating to any such Leased Vehicle from the Lending Facility Pool to the Qualified Intermediary in connection with obtaining Replacement Vehicles. The Servicer shall be permitted to effect any
reallocation of a Leased Vehicle on the books and records of the Titling Trust from the relevant Designated Pool to the Lending Facility Pool on the Business Day on which the Servicer reasonably believes the sale or other disposition of such Leased
Vehicle shall occur (the “Scheduled Disposition Date”). If a Leased Vehicle has been reallocated from the relevant Designated Pool to the Lending Facility Pool and the anticipated sale or other disposition of such Leased Vehicle
does not occur on or prior to the close of business on the related Scheduled Disposition Date then the Servicer shall immediately reallocate the related Leased Vehicle on the books and records of the Titling Trust from the Lending Facility Pool to
the relevant Designated Pool. 
 (ii) With respect to any Leased Vehicle that is sold or otherwise disposed of following a
reallocation described in Section 2.11(c)(i), the Servicer shall determine the Net Liquidation Proceeds relating to such Leased Vehicle. By no later than the close of business on the first
(1st) Business Day following the day on which such Leased Vehicle was sold or otherwise disposed of, the Servicer shall, or shall cause the Settlor to, subject to the terms of any Servicing
Supplement, (A) deposit cash in an amount equal to the related Net Liquidation Proceeds into the relevant Exchange Note Collection Account, (B) allocate one or more Leased Vehicles with an aggregate Contract Residual Value that is at least
equal to the Net Liquidation Proceeds of the related Leased Vehicle to the relevant Designated Pool or (C) both deposit cash to the relevant Exchange Note Collection Account and allocate one or more Leased Vehicles to the relevant Designated
Pool so that the sum of such cash deposit plus the aggregate Contract Residual Value of such Leased Vehicles is at least equal to the Net Liquidation Proceeds of the related Leased Vehicle. 

  
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 (iii) The Servicer shall use the same commercially reasonable efforts to sell or
otherwise dispose of Liquidated Vehicles under a Like Kind Exchange as required by Sections 2.11(a) and 2.11(b). 
 (iv)
Upon the disposition of a Leased Vehicle and transfer of the proceeds of such disposition to the Qualified Intermediary, AmeriCredit shall direct the Qualified Intermediary to use such proceeds, together with any additional amounts received from the
Settlor and any proceeds then held by the Qualified Intermediary as a result of the disposition of other Leased Vehicles, to acquire one or more Replacement Vehicles. Upon the purchase of any Replacement Vehicle by the Qualified Intermediary, the
Servicer shall cause such Replacement Vehicle to be titled in accordance with Section 2.4 and allocated either (A) to a Designated Pool in accordance with Section 2.11(c)(iii) or (B) if no such allocation to a Designated Pool is
required to fulfill the requirements of Section 2.11(c)(iii), to the Lending Facility Pool. 
 (v) If any Leased
Vehicle is disposed of in connection with a Like Kind Exchange by being sold to AmeriCredit or to an Affiliate of AmeriCredit, AmeriCredit or such Affiliate, as the case may be, shall be deemed to have represented and warranted that (1) the
sale price paid in respect of such sale represents the equivalent amount that AmeriCredit, as Servicer, would have obtained from a third-party purchaser in respect of such Leased Vehicle (unless the Base Residual Value is paid for such Leased
Vehicle, in which case, the amount that would have been paid by a third-party purchaser shall be deemed to be the Base Residual Value), and (2) the costs and expenses of the Servicer to be netted against such proceeds are no greater than had
such Leased Vehicle been sold directly to a third-party purchaser. 
 SECTION 2.12. Servicer to Act on Behalf of Trustee. 

(a) In addition to the duties of the Servicer set forth in this Agreement or any of the other Basic Documents, the Servicer shall perform such
calculations and shall prepare for execution by the Titling Trust or the Owner Trustee or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the
duty of the Titling Trust or the Owner Trustee to prepare, file or deliver pursuant to this Agreement or any of the Basic Documents or under state and federal tax and securities laws (including any filings required pursuant to the Sarbanes-Oxley Act
of 2002 or any rule or regulation promulgated thereunder), and at the request of the Owner Trustee shall take all appropriate action that it is the duty of the Titling Trust to take pursuant to this Agreement or any of the Basic Documents. In
accordance with the directions of the Titling Trust or the Owner Trustee, the Servicer shall administer, perform or supervise the performance of such other activities in connection with the Collateral as are not covered by any of the foregoing
provisions and as are expressly requested by the Titling Trust or the Owner Trustee and are reasonably within the capability of the Servicer. 

  
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 (b) Notwithstanding anything in this Agreement or any of the Basic Documents to the contrary, the
Servicer shall be responsible for promptly notifying the Owner Trustee and the Administrative Agent in the event that any withholding tax is imposed on the Titling Trust’s payments (or allocations of income) to any Certificateholder (as defined
in the Titling Trust Agreement) as contemplated by this Agreement or any other Basic Document. Any such notice shall be in writing and specify the amount of any withholding tax required to be withheld by the Owner Trustee or the Administrative Agent
pursuant to such provision. 
 (c) In carrying out the foregoing duties or any of its other obligations under this Agreement, the Servicer
may enter into transactions with or otherwise deal with any of its Affiliates; provided, however, that the terms of any such transactions or dealings shall be in accordance with any directions received from the Titling Trust and shall
be, in the Servicer’s opinion, no less favorable to the Titling Trust in any material respect. 
 (d) The Servicer shall prepare and
file, on behalf of APGO and the Titling Trust, all tax returns, tax elections, financial statements and such annual or other reports attributable to the activities engaged in by the Titling Trust as are necessary for preparation of tax reports,
including without limitation forms 1099. All tax returns will be signed by APGO or the Servicer. 
 (e) Notwithstanding the foregoing, with
respect to matters that in the reasonable judgment of the Servicer are non-ministerial, the Servicer shall not take any action pursuant to this Section 2.12 unless within a reasonable time before the
taking of such action, the Servicer shall have notified the Owner Trustee, the Administrative Agent and the Collateral Agent of the proposed action and the Owner Trustee and, with respect to items (A), (B), (C) and (D) below, the Owner Trustee
shall not have withheld consent. For the purpose of the preceding sentence, “non-ministerial matters” shall include: (A) the amendment of or any supplement to the Credit and Security Agreement;
(B) the initiation of any claim or lawsuit by the Titling Trust and the compromise of any action, claim or lawsuit brought by or against the Titling Trust (other than in connection with the collection of the Lease Agreements or liquidation of
the Leased Vehicles); (C) the amendment, change or modification of this Agreement or any of the Basic Documents; and (D) the removal of, and appointment of a successor, Collateral Agent. 

  
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 (f) The Servicer shall identify from time to time all (i) UCC financing statements
reflecting certain interests in Lease Agreements allocated to a particular Pool and all related rights, (ii) periodic sales and use Tax, income or franchise Tax or property (real or personal) Tax reports for the Titling Trust and the Owner
Trustee, (iii) periodic renewals of licenses and permits, (iv) periodic renewals of qualifications to act as a statutory trust and trustee of a statutory trust and (v) other periodic governmental filings, returns, registrations or
approvals (items (i) through (v), collectively, “Filings”) arising with respect to or required of the Owner Trustee or the Titling Trust, including (in the ease of clauses (iii) and (v)) such licenses, permits and other
Filings as are required for the Titling Trust or the Owner Trustee on behalf of the Titling Trust, as the case may be, to originate and accept assignments of Lease Agreements or Leased Vehicles and to be identified and maintained as the owner of the
Leased Vehicles on the related Certificates of Title, as contemplated by Sections 2.4 and 2.5(a). The Servicer shall also identify any surety bonds or other ancillary undertakings required of the Titling Trust or the Owner Trustee in respect of any
Filing. The Servicer, with, to the extent applicable, the cooperation of the Settlor, the Owner Trustee or the Titling Trust, shall timely prepare and file or cause to be filed, with the appropriate Person each Filing and each such ancillary
undertaking, and shall pay any and all fees, Taxes or expenses required to be paid in connection with the foregoing. In connection with the foregoing, the Titling Trust grants to the Servicer such authority, and will, from time to time, execute and
deliver to the Servicer any necessary power of attorney (including a Power of Attorney), as it may require, to effect each such Filing or ancillary undertaking. If the Servicer receives notice, or has actual knowledge, of material non-compliance with any Filing requirement, it shall promptly so notify the Owner Trustee and take all required action to rectify such noncompliance. Notwithstanding the foregoing, the Servicer shall not be required
to perform any of the actions specified in this Section in connection with any requirements that may be applicable to any Co-Trustee (except to the extent provided for in an applicable Co-Trustee Agreement to which the Servicer is a party), separate trustee or nominee of the Titling Trust. 

SECTION 2.13. Liability of Servicer; Indemnities. 

(a) The Servicer (in its capacity as such) shall be liable hereunder only to the extent of the obligations in this Agreement specifically
undertaken by the Servicer and the representations made by the Servicer. 
 (b) The Servicer shall defend, indemnify and hold harmless the
Titling Trust, the Owner Trustee, the Settlor, the Administrative Agent, the Collateral Agent and their respective officers, directors, agents and employees and the Secured Parties from and against any and all costs, expenses, losses, damages,
claims and liabilities, including reasonable fees and expenses of counsel and expenses of litigation arising out of or resulting from the use, ownership or operation by the Servicer or any Affiliate thereof of any Leased Vehicle. 

(c) The Servicer shall indemnify, defend and hold harmless the Titling Trust, the Owner Trustee, the Settlor, the Administrative Agent, the
Collateral Agent and their respective officers, directors, agents and employees and the Secured Parties from and against any Taxes that may at any time be asserted against any of such parties with respect to the transactions contemplated in this
Agreement or any other Basic Document, including, without limitation, any sales, gross receipts, general corporation, tangible or intangible personal property, privilege or license taxes (but not including any federal or other income taxes based on
income payable to such Persons hereunder or thereunder) and costs and expenses in defending against the same. 
 (d) The Servicer shall
indemnify, defend and hold harmless the Titling Trust, the Owner Trustee, the Settlor, the Administrative Agent, the Collateral Agent and their respective officers, directors, agents and employees and the Secured Parties from and against any and all
costs, expenses, losses, claims, damages, and liabilities to the extent that such cost, expense, loss, claim, damage, or liability arose out of, or was imposed upon the Titling Trust, the Owner Trustee, the Settlor, the Administrative Agent, the
Collateral Agent or the Secured Parties by reason of the negligence, misfeasance or bad faith in the performance of the Servicer’s duties under this Agreement or any other Basic Document or by reason of reckless disregard of the Servicer’s
obligations and duties under this Agreement or any other Basic Document (excluding credit and residual value losses). 

  
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 (e) AmeriCredit shall indemnify, defend and hold harmless the Titling Trust, the Owner Trustee,
the Settlor, the Administrative Agent, the Collateral Agent and their respective officers, directors, agents and employees and the Secured Parties from and against any loss, liability or expense incurred by reason of the violation by Servicer of
federal or state securities laws in connection with the registration or the sale of any Exchange Note. 
 (f) Indemnification under this
Article shall include, without limitation, reasonable fees and expenses of counsel and expenses of litigation and shall include costs and expenses incurred in connection with the enforcement of any such indemnification rights. If the Servicer has
made any indemnity payments pursuant to this Section and the recipient thereafter collects any of such amounts from others, the recipient shall promptly repay such amounts collected to the Servicer, without interest. 

(g) The obligations of the Servicer under this Section shall survive (i) any transaction described in Section 5.4 and any acts,
occurrences or transactions related thereto whether arising before or after the date of such transaction, (ii) the resignation or removal of the Servicer, the Owner Trustee, the Administrative Agent or the Collateral Agent and (iii) the
termination of this Agreement, any related Servicing Supplement and the other Basic Documents. 
 SECTION 2.14. Third Party Claims.
The Servicer shall immediately notify the Settlor, the Administrative Agent, the Collateral Agent, the Owner Trustee and each affected Secured Party upon learning of a Claim or Lien of whatever kind of a third party that would be likely to have a
material adverse impact (not reasonably expected to be covered by insurance) on the Titling Trust or any Trust Assets allocated to a particular Pool. The Servicer shall be responsible for the defense of any Claim against the Owner Trustee arising
pursuant to or in connection with a Claim or Proceeding (a) contemplated by SECTION 2.13(a), (b), (c) and (d), subject to the qualifications described therein, (b) originally commenced by the Servicer or the Titling Trust to enforce a
Lease Agreement or (c) with respect to the servicing of a Lease Agreement. If the Servicer is responsible for the defense of such a Proceeding or Claim, the Servicer will provide such information with respect thereto as is reasonably requested
by the Settlor, the Owner Trustee or the related Secured Party, as applicable. 
 SECTION 2.15. Insurance. The Servicer shall cause
each Lease Agreement to require (i) a comprehensive and collision physical damage insurance policy covering the actual cash value of the related Leased Vehicle and (ii) automotive liability insurance in amounts at least equal to the amount
prescribed by applicable State law shall be obtained and maintained in full force and effect during the related Lease Term. Each Lease Agreement shall provide that failure to obtain and maintain the required insurance is a default under the Lease
Agreement. For the avoidance of doubt, evidence that a “self-insurance” policy is maintained that satisfies the dollar amount requirements in clauses (i) and (ii) shall satisfy the requirements of this
Section 2.15. 

  
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 SECTION 2.16. Subservicer. 

(a) The Servicer may enter into subservicing agreements with one or more subservicers for the servicing and administration of any or all of
the Lease Agreements. References in this Agreement to actions taken, to be taken, permitted to be taken, or restrictions on actions permitted to be taken, by the Servicer in servicing the Lease Agreements shall include actions taken, to be taken,
permitted to be taken, or restrictions on actions permitted to be taken, by a subservicer on behalf of the Servicer. Each subservicing agreement will be upon such terms and conditions as are not inconsistent with this Agreement and the standard of
care set forth herein and as the Servicer and the subservicer have agreed. All compensation payable to a subservicer under a subservicing agreement shall be payable by the Servicer from its servicing compensation or otherwise from its own funds.

 (b) Notwithstanding any subservicing agreement or any of the provisions of this Agreement relating to agreements or any arrangements
between the Servicer or a subservicer or any reference to actions taken through such Persons or otherwise, the Servicer shall remain obligated and liable for the servicing and administering of the Lease Agreements in accordance with the provisions
of this Agreement without diminution of such obligation or liability by virtue of such subservicing agreements. 
 (c) Any subservicing
agreement that may be entered into and any other transactions or servicing arrangements relating to or involving a subservicer in its capacity as such shall be deemed to be between the subservicer and the Servicer alone, and the Titling Trust, the
Owner Trustee and any Secured Party shall not be deemed parties thereto and shall have no claims, rights, obligations, duties or liabilities with respect to the subservicer except as set forth in the next succeeding paragraph. 

In the event the Servicer shall for any reason no longer be acting as such, the Successor Servicer may, in its discretion, thereupon assume
all of the rights and obligations of the outgoing Servicer under a subservicing agreement. In such event, the Successor Servicer shall be deemed to have assumed all of the Servicer’s interest therein and to have replaced the outgoing Servicer
as a party to each such subservicing agreement to the same extent as if such subservicing agreement had been assigned to the Successor Servicer, except that the outgoing Servicer shall not thereby be relieved of any liability or obligations on the
part of the outgoing Servicer to the subservicer under such subservicing agreement. The outgoing Servicer shall deliver to the Successor Servicer all documents and records relating to each such subservicing agreement and the Lease Agreements then
being serviced thereunder and an accounting of amounts collected and held by it and otherwise use its best efforts to effect the orderly and efficient transfer of any subservicing agreement to the Successor Servicer. In the event that the
predecessor servicer is being replaced upon the occurrence of a Lending Facility Servicer Default or Exchange Note Servicer Default or otherwise for cause, the predecessor Servicer shall pay all reasonable
set-up and conversion costs associated with the transfer of the servicing rights to the Successor Servicer. In the event that the Successor Servicer elects not to assume a subservicing agreement, the outgoing
Servicer, at its expense, shall cause the subservicer to deliver to the Successor Servicer all documents and records relating to the Lease Agreements and Leased Vehicles being serviced thereunder and all amounts held (or thereafter received) by such
subservicer (together with an accounting of such amounts) and shall otherwise use its best efforts to effect the orderly and efficient transfer of servicing of the Lease Agreements and Leased Vehicles being serviced by such subservicer to the
Successor Servicer. 

  
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 SECTION 2.17. Pull Ahead Lease Agreements. If a Pull Ahead Program is instituted, any
Lease Agreement subject to such Pull Ahead Program shall become a Pull Ahead Lease Agreement as of the end of the Collection Period during which the related Lessee elected to terminate the Lease Agreement prior to its Maturity Date by delivery of
the related Leased Vehicle to a Dealer and payment of any required Monthly Payments and any other required amount pursuant to such Pull Ahead Program. The Servicer shall cause the related Pull Ahead Payment Provider to remit to it all Pull Ahead
Payments relating to Pull Ahead Lease Agreements in accordance with the terms of the related Pull Ahead Program, including pursuing applicable legal remedies if such payments are not paid. For the avoidance of doubt, no Successor Servicer shall be
obligated to maintain a Pull Ahead Program. 
 ARTICLE III 

ACCOUNTS, STATEMENTS AND REPORTS 

SECTION 3.1. Establishment of Collection Accounts. 

(a) Prior to the first Payment Date on which amounts will be due and payable pursuant to Section 10.2 of the Credit and Security
Agreement to a party other than AmeriCredit (in its capacity as Servicer, as Lender or otherwise) the Collateral Agent, on behalf of the Lender, shall establish and maintain in its own name an Eligible Deposit Account (the “Lending Facility
Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Collateral Agent on behalf of the Lender. Prior to the establishment of such Lending Facility Collection
Account, all amounts required to be deposited thereto shall instead be deposited with or at the direction of the Servicer, for further application by the Servicer in accordance with the terms hereof. The Collateral Agent will also establish an
Exchange Note Collection Account pursuant to each Servicing Supplement that will relate to the related Designated Pool and Exchange Note. Each Collection Account shall initially be established with the Collateral Agent. 

(b) Unless otherwise specified in the related Servicing Supplement with respect to an Exchange Note Collection Account, funds on deposit in
the Collection Accounts shall be invested by the Collateral Agent (or any custodian with respect to funds on deposit in any such account) in Permitted Investments selected in writing by the Servicer (pursuant to standing instructions or otherwise).
All such Permitted Investments shall be held by or on behalf of the Collateral Agent for the benefit of the related Secured Party. Funds on deposit in any Trust Account shall be invested in Permitted Investments that will mature so that such funds
will be available at the close of business on the Business Day immediately preceding the following Payment Date. All Permitted Investments will be held to maturity. The Servicer acknowledges that upon its written request and at no additional cost,
it has the right to receive notification after the completion of each such investment or the Collateral Agent’s receipt of a broker’s confirmation. The Servicer agrees that such notifications will not be provided by the Collateral Trustee
hereunder, and the Collateral Trustee shall make available, upon request and in lieu of notifications, periodic account statements that reflect such investment activity. No statement need be made available if no activity has occurred in the relevant
Account during such period. 

  
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 (c) All Investment Earnings of moneys deposited in each Collection Account shall be deposited (or
caused to be deposited) in such Collection Account by 10:00 a.m. on each Payment Date by the Collateral Agent and applied in the manner set forth in the Credit and Security Agreement or related Exchange Note Supplement, as applicable, and any loss
resulting from such investments shall be charged to such Collection Account. The Servicer will not direct the Collateral Agent to make any investment of any funds held in any of the Collection Accounts unless the security interest granted and
perfected in such account will continue to be perfected in such investment, in either case without any further action by any Person, and, in connection with any direction to the Collateral Agent to make any such investment, if requested by the
Collateral Agent, the Servicer shall deliver to the Collateral Agent an Opinion of Counsel, acceptable to the Collateral Agent, to such effect. 

(d) The Collateral Agent shall not in any way be held liable by reason of any insufficiency in any of the Collection Accounts resulting from
any loss on any Permitted Investment included therein except for losses attributable to the Collateral Agent’s failure to comply with the applicable investment instructions pursuant to the terms of this Agreement or its failure to make payments
on such Permitted Investments issued by the Collateral Agent, in its commercial capacity as principal obligor and not as Collateral Agent, in accordance with their terms. 

(e) If (i) the Servicer shall have failed to give investment directions in writing for any funds on deposit in the Collection Accounts to
the Collateral Agent by 1:00 p.m. Eastern Time (or such other time as may be agreed by the Servicer and Collateral Agent) on any Business Day the funds in such Collection Account will be invested in accordance with the investment direction most
recently provided by the Servicer; provided, that, if no investment direction has been provided by the Servicer by such date, the funds in such Collection Account will be held univested. 

(f) The Collateral Agent shall possess all right, title and interest in all funds on deposit from time to time in the Collection Accounts and
in all proceeds thereof for the benefit of the related Secured Parties and all such funds, investments, proceeds and income shall be part of the Trust Estate. Except as otherwise provided herein, the Collection Accounts shall be under the sole
dominion and control of the Collateral Agent for the benefit of the related Secured Parties. If, at any time, any of the Collection Accounts ceases to be an Eligible Deposit Account, the Collateral Agent (or the Servicer on its behalf) shall within
five (5) Business Days (or such longer period as to which the Rating Agencies rating any securities backed by the related Exchange Note, if any, may consent) establish a new Collection Account as an Eligible Deposit Account and shall transfer
any cash and/or any investments to such new Collection Account. In connection with the foregoing, the Servicer agrees that, in the event that any of the Collection Accounts are not accounts with the Collateral Agent, the Servicer shall notify the
Collateral Agent in writing promptly upon any of such Collection Accounts ceasing to be an Eligible Deposit Account. 
 (g) With respect to
the Trust Account Property, the Collateral Agent agrees that: 

  
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 (i) any Trust Account Property that is held in deposit accounts shall be held
solely in the Eligible Deposit Accounts; and, except as otherwise provided herein, each such Eligible Deposit Account shall be subject to the exclusive custody and control of the Collateral Agent, and the Collateral Agent shall have sole signature
authority with respect thereto; 
 (ii) any Trust Account Property that constitutes “physical property” (as such
term is defined in the definition of “Delivery” contained in Annex A hereto) shall be delivered to the Collateral Agent in accordance with paragraph (i) of the definition of “Delivery” and shall be held, pending maturity or
disposition, solely by the Collateral Agent or a securities intermediary (as such term is defined in Section 8-102(14) of the UCC) acting solely for the Collateral Agent; 

(iii) the “securities intermediary’s jurisdiction” for purposes of
Section 8-110 of the UCC shall be the State of New York; 
 (iv) any property
that is a book-entry security held through the Federal Reserve System pursuant to Federal book-entry regulations shall be delivered in accordance with paragraph (ii) of the definition of “Delivery” and shall be maintained by the
Collateral Agent, pending maturity or disposition, through continued book-entry registration of such Trust Account Property as described in such paragraph; 

(v) any Trust Account Property that is an “uncertificated security” or a “security entitlement” under
Article 8 of the UCC and that is not governed by clause (4) above shall be delivered to the Collateral Agent in accordance with paragraph (iii) or (iv), if applicable, of the definition of “Delivery” and shall be maintained by
the Collateral Agent, pending maturity or disposition, through continued registration of the Collateral Agent’s (or its nominee’s) ownership of such security; and 

(vi) any cash shall be considered a “financial asset” under Article 8 of the UCC. 

(h) The Servicer shall have the power to instruct the Collateral Agent to make withdrawals and payments from the Collection Accounts for the
purpose of permitting the Servicer and the Collateral Agent to carry out its respective duties hereunder, under the Credit and Security Agreement and under any other agreements related thereto or to withdraw amounts that do not constitute
Collections for any Collection Period that were deposited in error. 
 SECTION 3.2. Reporting by the Servicer; Delivery of Certain
Documentation. 
 (a) On or before each Determination Date, in accordance with Section 2.8(a), the Servicer shall deliver the
Monthly Lending Facility Pool Report to the Owner Trustee, the Settlor, the Lender and the Collateral Agent and each Monthly Exchange Note Report to the related Secured Parties, in each case, for the related Collection Period. Notwithstanding the
foregoing or Section 2.8(a), if at any time no Exchange Notes are outstanding the Servicer shall not be required to deliver any Servicer Reports unless requested to do so by the Lender. 

(b) The Servicer will also provide any additional reports, certificates or notices specified in any Servicing Supplement to the recipients and
in accordance with the terms specified therein. 

  
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 ARTICLE IV 

SERVICER DEFAULTS 
 SECTION 4.1.
Servicer Defaults; Termination of Servicer. 
 (a) The following acts and occurrences, with respect to the Lending Facility Pool will
constitute “Lending Facility Servicer Defaults”: 
 (i) the occurrence of an Insolvency Event with respect
to the Servicer; 
 (ii) failure by the Servicer to remit to the Lending Facility Collection Account any proceeds or payment
required to be so remitted under the terms of this Agreement that continues unremedied for a period of two (2) Business Days after written notice is received by the Servicer from the Titling Trust, the Settlor or the Collateral Agent, or after
discovery of such failure by a Responsible Officer of the Servicer; 
 (iii) failure on the part of the Servicer to observe
its covenants and agreements set forth in Section 5.3; or 
 (iv) failure on the part of the Servicer duly to observe
or perform any other covenants or agreements of the Servicer set forth in this Agreement, which failure (A) materially and adversely affects the rights of the Lender, and (B) continues unremedied for a period of thirty (30) days after
knowledge thereof by the Servicer or after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by the Titling Trust, the Settlor, the Administrative Agent or the Collateral
Agent. 
 (b) Except as otherwise provided in the related Servicing Supplement, the following acts and occurrences with respect to any
Designated Pool, will constitute “Exchange Note Servicer Defaults” for such Designated Pool: 
 (i) the
occurrence of an Insolvency Event with respect to the Servicer; 
 (ii) failure by the Servicer to remit to the related
Exchange Note Collection Account any proceeds or payment required to be so remitted under the terms of this Agreement or the related Servicing Supplement that continues unremedied for a period of two (2) Business Days after written notice is
received by the Servicer from by the related Exchange Noteholder, the Administrative Agent or the Collateral Agent, or after discovery of such failure by a Responsible Officer of the Servicer; 

(iii) failure on the part of the Servicer to observe its covenants and agreements set forth in Section 5.3; or 

  
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 (iv) failure on the part of the Servicer duly to observe or perform any other
covenants or agreements of the Servicer set forth in this Agreement or the related Servicing Supplement, which failure (A) materially and adversely affects the rights of the related Exchange Noteholder or the Holders of any securities which are
secured by the related Exchange Noteholder, and (B) continues unremedied for a period of thirty (30) days after knowledge thereof by the Servicer or after the date on which written notice of such failure, requiring the same to be remedied,
shall have been given to the Servicer by the related Exchange Noteholder, the Administrative Agent or the Collateral Agent. 
 (c) The
Servicer shall provide to the Owner Trustee, the Collateral Agent, the Administrative Agent the related Secured Party and the related Exchange Noteholder, if applicable, prompt notice of any Lending Facility Servicer Default or Exchange Note
Servicer Default. 
 (d) If a Lending Facility Servicer Default or Exchange Note Servicer Default shall have occurred and be continuing, the
Titling Trust may, upon being provided indemnity or security satisfactory to it, remedy such Lending Facility Servicer Default or Exchange Note Servicer Default, as applicable, or at the direction of the related Secured Party, by notice to the
Servicer, terminate all of the rights and obligations of the Servicer under this Agreement and the related Servicing Supplement in respect of the related Pool, including all or a portion (allocable to the rights and obligations terminated) of the
rights of the Servicer to receive the servicing compensation provided for in Section 2.10 (or the applicable portion thereof) with respect to such Pool following the assumption by a successor of the Servicer’s duties hereunder. Upon any
such termination, the Servicer shall continue to perform its functions as Servicer until the earlier of the date specified in the termination notice or, if no such date is specified therein, the date of the Servicer’s receipt of such notice, at
which time all rights, powers, duties, obligations and responsibilities of the Servicer under this Agreement and the related Servicing Supplement, whether with respect to the Servicing Fee or otherwise, so terminated with respect to the related Pool
shall, as applicable, vest in and be assumed by a Successor Servicer appointed by the related Secured Party, pursuant to a servicing agreement with the Titling Trust and such Secured Party, containing substantially the same provisions as this
Agreement in respect of the related Pool (including those with respect to the compensation of such Successor Servicer). The Successor Servicer is hereby irrevocably authorized and empowered to execute and deliver, on behalf of the Servicer, as attorney-in-fact or otherwise, all documents and other instruments (including any notices to Lessees deemed necessary or advisable by the Successor Servicer), and to do or
accomplish all other acts or things necessary or appropriate to effect such vesting and assumption. Such action shall include, directing any or all of the related Lessees to remit payments on or in respect of the related Lease Agreements and Leased
Vehicles to an account or address designated by the Successor Servicer. The Servicer shall comply with its obligations under Section 6.1(b) in connection with any such termination. 

(e) All reasonable costs and expenses incurred in connection with transferring the servicing of the related Lease Agreements and Leased
Vehicles to the Successor Servicer and amending this Agreement and the related Servicing Supplement to reflect such succession as Servicer pursuant to this Section shall be paid by the predecessor Servicer upon presentation of reasonable
documentation of such costs and expenses. In the event that a Servicer fails to pay costs and expenses for which it is responsible under this Section within a reasonable time after presentation of such documentation, the Successor Servicer shall be
entitled to reimbursement therefor as a Liability payable from Trust Assets in accordance with Section 7.1 of the Titling Trust Agreement, and the Titling Trust shall be subrogated to the reimbursement rights of the Successor Servicer against
the departing Servicer. 

  
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 (f) At the written direction of the related Secured Party, the Titling Trust shall waive a
default by the Servicer in the performance of its obligations hereunder and its consequences with regard to any Pool, except that any such waiver in respect of a Pool may only be given in accordance with the related Exchange Note Supplement or the
related Servicing Supplement. Upon any such waiver by the Titling Trust of a past default, such default shall cease to exist, and any Lending Facility Servicer Default or Exchange Note Servicer Default, as applicable, arising therefrom shall be
deemed to have been remedied for every purpose of this Agreement and the related Servicing Supplement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

(g) If the Servicer resigns or is terminated as Servicer hereunder with respect to a Pool, the related Secured Party shall appoint a Successor
Servicer hereunder. If a Successor Servicer is not appointed by the effective date of the predecessor Servicer’s termination hereunder or resignation pursuant to Section 5.4, then the related Secured Party shall promptly appoint or
petition a court of competent jurisdiction to appoint as Successor Servicer with respect to such Pool any established entity the regular business of which includes the servicing of motor vehicle leases or retail installment sale contracts. 

(h) In the event of the partial termination of any, but not all, of the Servicer’s rights and powers hereunder, the Servicer shall
continue to service, administer and collect Lease Agreements and Leased Vehicles in unaffected Pools and shall have the right to receive servicing compensation in accordance with Section 2.9 with respect to all such unaffected Pools. 

(i) Except as otherwise provided in the related Servicing Supplement, any compensation payable to a Successor Servicer may not be in excess of
that permitted by the predecessor Servicer unless the related Secured Parties bear such excess costs exclusively. 
 SECTION 4.2. No
Effect on Other Parties. Upon any complete or partial termination of the rights and powers of the Servicer from time to time pursuant to Section 6.1 or upon any appointment of a Successor Servicer with respect to all or a portion of the
Trust Assets, all rights, powers, duties and obligations of the Titling Trust under this Agreement and each other Titling Trust Document shall remain unaffected by such termination or appointment and shall remain in full force and effect thereafter,
except as otherwise expressly provided in this Agreement or in any other Titling Trust Document. 
 ARTICLE V 

THE SERVICER 
 SECTION 5.1.
Representations and Warranties. As of the date hereof, the Servicer makes the following representations and warranties to the Titling Trust and each Secured Party: 

(a) Organization and Good Standing. The Servicer has been duly organized and is validly existing and in good standing under the laws of
its jurisdiction of organization, with power, authority and legal right to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and now has,
power, authority and legal right to enter into and perform its obligations under this Agreement. 

  
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 (b) Due Qualification. The Servicer is duly qualified to do business, is in good standing
and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business (including the servicing of the Lease Agreements and Leased Vehicles as required by this
Agreement) requires or shall require such qualification , except when the failure to have any such license, approval or qualification would not be likely to have a material adverse effect on the condition, financial or otherwise, of the Servicer or
would not be likely to have a material adverse effect on the ability of the Servicer to perform its obligations under this Agreement or any Servicing Supplement. 

(c) Power and Authority. The Servicer has the power and authority to execute and deliver this Agreement and the Basic Documents to
which it is a party and to carry out its terms and their terms, respectively, and the execution, delivery and performance of this Agreement and the Basic Documents to which it is a party have been duly authorized by the Servicer by all necessary
corporate action. 
 (d) Binding Obligation. This Agreement and the Basic Documents to which it is a party have been duly executed
and delivered by the Servicer and shall constitute legal, valid and binding obligations of the Servicer enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, or
other similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law. 

(e) No Violation. The consummation of the transactions contemplated by this Agreement and the fulfillment of the terms of this
Agreement shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the articles of incorporation or bylaws of the Servicer, or any material
indenture, agreement, mortgage, deed of trust or other instrument to which the Servicer is a party or by which it is bound, or result in the creation or imposition of any material Lien upon any of its properties pursuant to the terms of any such
indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement or a related Servicing Supplement, or violate any law, order, rule or regulation applicable to the Servicer of any court or of any federal or State
regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Servicer or any of its properties , in each case which breach, default, conflict, lien or violation would be likely to have a material adverse
effect on the financial condition of the Servicer or its ability to perform its obligations under this Agreement or any Servicing Supplement. 

(f) No Proceedings. There are no proceedings or investigations pending or, to the Servicer’s knowledge, threatened against the
Servicer, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Servicer or its properties (A) asserting the invalidity of this Agreement, (B) seeking to
prevent the issuance of the any Exchange Note or the consummation of any of the transactions contemplated by this Agreement or the Credit and Security Agreement, or (C) seeking any determination or ruling that might materially and adversely
affect the performance by the Servicer of its obligations under, or the validity or enforceability of, this Agreement or (D) seeking to adversely affect the federal income tax or other federal, state or local tax attributes of the Titling Trust
or any Pool. 

  
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 (g) No Consents. The Servicer is not required to obtain the consent of any other party or
any consent, license, approval or authorization, or registration or declaration with, any governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Agreement which has not
already been obtained. 
 SECTION 5.2. Limitation on Liability of Servicer. 

(a) Neither the Servicer nor any of its directors, officers, employees or agents shall be under any liability to the Titling Trust, the
Collateral Agent, any Secured Party or any third party beneficiary of this Agreement or any other Titling Trust Document, except as otherwise provided in the applicable Titling Trust Document, for any action taken or for refraining from the taking
of any action pursuant to this Agreement or any other Titling Trust Document, or for errors in judgment; provided, however, that this provision shall not protect the Servicer or any such individual against any liability that would
otherwise be imposed by reason of willful misfeasance, bad faith or negligence in the performance of duties or by reason of reckless disregard of obligations or duties under this Agreement or any other Titling Trust Document. 

(b) Except as otherwise provided in this Agreement or any other Titling Trust Document, the Servicer shall not be under any obligation to
appear in, prosecute or defend any Proceeding not incidental to its duties to service the Lease Agreements and Leased Vehicles in accordance with this Agreement, and that in its opinion may involve it in any liability; provided,
however, that the Servicer may undertake any reasonable action it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties hereto and the interests of the Titling Trust, and any reasonable expense
related to any such undertaking by the Servicer shall be reimbursable to the Servicer as Disposition Expenses, Liquidation Expenses or Insurance Expenses, as the case may be, pursuant to Section 2.10 hereof. 

(c) The Servicer and any director, officer, employee or agent of the Servicer may rely in good faith on the advice of counsel or on any
document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this Agreement or any other Titling Trust Document. 

  
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 SECTION 5.3. Merger. The Servicer shall not merge or consolidate with any other person,
convey, transfer or lease substantially all its assets as an entirety to another Person, or permit any other Person to become the successor to the Servicer’s business unless, after the merger, consolidation, conveyance, transfer, lease or
succession, the successor or surviving entity shall be capable of fulfilling the duties of the Servicer contained in this Agreement. Any corporation (a) into which the Servicer may be merged or consolidated, (b) resulting from any merger
or consolidation to which the Servicer shall be a party, (c) which acquires by conveyance, transfer, or lease substantially all of the assets of the Servicer, or (d) succeeding to the business of the Servicer, in any of the foregoing cases
shall execute an agreement of assumption to perform every obligation of the Servicer under this Agreement and each other Basic Document and, whether or not such assumption agreement is executed, shall be the successor to the Servicer under this
Agreement and each other Basic Document to which the Servicer is a party without the execution or filing of any paper or any further act on the part of any of the parties to this Agreement or any other Basic Document, anything in this Agreement or
any other Basic Document to the contrary notwithstanding; provided, however, that nothing contained herein shall be deemed to release the Servicer from any obligation. The Servicer shall provide notice of any merger, consolidation or
succession pursuant to this Section to the Owner Trustee, the Settlor, each Secured Party and the Collateral Agent thirty (30) days prior to such merger, consolidation or succession. Notwithstanding the foregoing, the Servicer shall not merge
or consolidate with any other Person or permit any other Person to become a successor to the Servicer’s business, unless (y) the Servicer shall have delivered to the Owner Trustee, the Settlor, each Secured Party and the Collateral Agent
an Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement
relating to such transaction have been complied with, and (z) the Servicer shall have delivered to the Owner Trustee, the Settlor, each Secured Party and the Collateral Agent an Opinion of Counsel, stating in the opinion of such counsel, either
(A) all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary to preserve and protect the respective interests of the Titling Trust in the Lease Agreements and Leased Vehicles
and the Collateral Agent in the Collateral and reciting the details of the filings or (B) no such action shall be necessary to preserve and protect such interest. 

SECTION 5.4. Servicer Not to Resign; Assignment. Subject to the provisions of Section 5.3, the Servicer shall not resign from the
obligations and duties imposed on it by this Agreement as Servicer except upon a determination that by reason of a change in legal requirements the performance of its duties under this Agreement would cause it to be in violation of such legal
requirements in a manner which would be likely to result in a material adverse effect on the Servicer, and the Settlor and any Secured Party does not elect to waive the obligations of the Servicer to perform the duties which render it legally unable
to act or to delegate those duties to another Person. Any such determination permitting the resignation of the Servicer shall be evidenced by an Opinion of Counsel to such effect delivered and acceptable to the Owner Trustee, the Settlor and each
Secured Party. No resignation of the Servicer shall become effective until an entity acceptable to Settlor and the each Secured Party shall have assumed the responsibilities and obligations of the Servicer. 

ARTICLE VI 
 MISCELLANEOUS 

SECTION 6.1. Termination of Agreement; Transfer of Servicing Materials to Successor Servicer. 

  
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 (a) This Agreement shall terminate, completely or (if so indicated) in part with respect to one
or more Pools, upon the earlier of (i) the termination of the Titling Trust or, with respect to any Pool, upon the termination of such Pool in accordance with the Credit and Security Agreement and the related Exchange Note Supplement,
(ii) with respect to the Servicer, but not as to any applicable Successor Servicer, the termination of the Servicer as Servicer hereunder in accordance with the terms of this Agreement (completely or with regard to any of (A) the
Servicer’s obligation to cause the assignment of Lease Agreements, Leased Vehicles and related Trust Assets to the Titling Trust or (B) the Servicer’s servicing obligations with regard to one or more Pools) or (iii) the mutual
written determination of the parties hereto (completely or in any part as set forth in clause (ii) above). Upon any termination of the Servicer’s servicing obligations hereunder with regard to any Pool, upon payment of all amounts due to
the Servicer hereunder with respect to such Pool (including related accrued Servicing Fees (to the extent payable from Trust Assets) and additional servicing compensation payable in respect of such Pool and reimbursement of any advances), the
Servicer shall pay to or upon the order of the Titling Trust or any other Person entitled thereto all monies held by the Servicer on behalf of the Titling Trust or the Owner Trustee with respect to such Pool. Any termination of the Servicer with
respect to one Pool shall not thereby effect a termination of the Servicer with respect to any other Pool in existence at the time of such termination. 

(b) If the rights of the Servicer are terminated hereunder with regard to any Pool, the Servicer shall, upon demand of the Titling Trust ,
deliver to the Titling Trust or the applicable Successor Servicer copies of all books and records necessary for the servicing of the related Lease Agreements and Leased Vehicles, all monies collected by it and required to be deposited in any Trust
Account or other account relating to the Pool (including the transfer of applicable Security Deposits being held by the Servicer), and any related Leased Vehicle in its possession that has been repossessed or recovered and is part of Matured Vehicle
Inventory and in either case has not yet been sold or otherwise disposed of pursuant to this Agreement. In addition, the Servicer shall use commercially reasonable efforts to effect the orderly and efficient transfer of the servicing of the
applicable Lease Agreements to the Successor Servicer. As promptly as practicable, the Servicer shall provide to the Successor Servicer a current computer tape containing all information required for the servicing of such Lease Agreements, together
with documentation containing any and all information necessary for use of such computer tape. 
 SECTION 6.2. Amendment. 

(a) Subject to Section 6.2(b), this Agreement may be amended as it relates to (i) the Lending Facility Pool, by written agreement
among the Titling Trust, the Settlor, the Servicer and the Lender and (ii) any Designated Pool, by one or more Servicing Supplements among the Titling Trust, the Settlor, the Collateral Agent, the Servicer, the related Exchange Noteholder and
any additional Persons required by the related Servicing Supplement; provided, that to the extent an amendment pursuant to clause (i) materially adversely affects the interests of any Exchange Noteholder, the prior written consent of
such Exchange Noteholder must be obtained. A Servicing Supplement may provide, among other things, for further specific servicing obligations with respect to the related Pool. Such Servicing Supplements may permit the termination of this Agreement
insofar as it applies to the related Pool, upon the terms and conditions set forth therein; provided, that no Servicing Supplement shall be effective to authorize or effect the termination of this Agreement insofar as it relates to the
Lending Facility Pool or any other Designated Pool. 

  
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 (b) This Agreement may be amended at any time by the Settlor, the Titling Trust, the Collateral
Agent and the Servicer, without the consent of any Secured Party, (i) to (A) cure any ambiguity, (B) correct or supplement any provision herein that may be inconsistent with any other provision herein, (C) add any provision that
provides additional rights to the Holders or (D) ensure that the Titling Trust is not classified as an association (or a publicly traded partnership) taxable as a corporation for federal income tax purposes, as evidenced by an Opinion of
Counsel; provided, in each case, that such amendment will not, in the good faith judgment of the parties thereto, materially and adversely affect the interest of any Secured Party or (ii) for any other purpose; provided, that an
Opinion of Counsel is delivered to the Owner Trustee and the Collateral Agent to the effect that such amendment or supplement will not materially and adversely affect the interest of any Secured Party. 

SECTION 6.3. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW
YORK, WITHOUT GIVING EFFECT TO OTHERWISE APPLICABLE PRINCIPLES OF CONFLICTS OF LAW (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

SECTION 6.4. Relationship of this Agreement to Other Titling Trust Documents. Unless the context otherwise requires, this Agreement and
the other Titling Trust Documents shall be interpreted so as to give full effect to all provisions hereof and thereof. In the event of any actual conflict between the provisions of this Agreement and (a) the Titling Trust Agreement, with
respect to the servicing of any Trust Assets, the provisions of this Agreement shall prevail and (b) any Servicing Supplement with respect to the servicing of any Related Trust Assets, the provisions of such Servicing Supplement shall control
with respect to the related Pool. 
 SECTION 6.5. Notices. All demands, notices, directions, requests and communications hereunder
shall be in writing and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or facsimile transmission, and addressed in each case as follows: (a) if to
the Servicer, at AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer, (b) if to the Titling Trust, in care of Wilmington Trust Company, Rodney Square North, 1100 North
Market Street, Wilmington, Delaware 19890-0001 Attention: Corporate Trust Administration; Facsimile: (302) 636-4140, with a copy to the Servicer and the Settlor, (c) if to the Settlor, in care of
Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-0001 Attention: Corporate Trust Administration; Facsimile: (302) 636-4140, with a copy to the Servicer, or (d) with respect
to any of the foregoing Persons, at such other address as shall be designated by such Person in a written notice to the other parties hereto. Delivery shall occur only upon receipt or rejected tender of such communication by an officer of the
recipient entitled to receive such notices located at the address or telecopier number of such recipient for notices hereunder. 
 SECTION
6.6. Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement or any Servicing Supplement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions
or terms shall be deemed severable from the remaining covenants, agreements, provisions and terms of this Agreement or such Servicing Supplement, as supplemented or amended, and shall in no way affect the validity or enforceability of the other
covenants, agreements, provisions and terms of this Agreement or any Servicing Supplement. 

  
 31 

 SECTION 6.7. Binding Effect. The provisions of this Agreement shall be binding upon and
inure to the benefit of the parties hereto and their permitted successors and assigns. 
 SECTION 6.8. Table of Contents and
Headings. The Table of Contents and Article and Section headings herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof. 

SECTION 6.9. Counterparts. This Agreement may be executed in any number of counterparts, each of which so executed and delivered shall
be deemed to be an original, regardless of whether delivered in physical or electronic form, but all of which counterparts shall together constitute but one and the same instrument. 

SECTION 6.10. Further Assurances. Each party shall take such acts, and execute and deliver to any other party such additional documents
or instruments as may be reasonably requested in order to effect the purposes of this Agreement and to better assure and confirm unto the requesting party its rights, powers and remedies hereunder. 

SECTION 6.11. Third-Party Beneficiaries. Each Secured Party, the Administrative Agent and the Collateral Agent shall be third party
beneficiaries of this Agreement. Any Person designated as a third party beneficiary in a Servicing Supplement shall be third-party beneficiaries of this Agreement as supplemented by such Servicing Supplement. Except as otherwise provided in this
Agreement or a Servicing Supplement, no other Person shall have any rights hereunder. 
 SECTION 6.12. No Waiver; Cumulative
Remedies. No failure to exercise and no delay in exercising, on the part of any party hereto, any right, remedy, power or privilege under this Agreement or any Servicing Supplement shall operate as a waiver thereof; nor shall any single or
partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges provided in this Agreement
and any Servicing Supplement are cumulative and not exhaustive of any rights, remedies, powers or privileges provided at law, in equity or otherwise. 

SECTION 6.13. No Petition. Each of the parties hereto covenants and agrees that prior to the date that is one year and one (1) day
after the date on which all obligations under each Transaction have been paid in full, it will not institute against, or join any other Person in instituting against the Titling Trust or the Settlor any bankruptcy, reorganization, arrangement,
insolvency or liquidation Proceeding or other Proceeding under any Insolvency Law. This Section shall survive the complete or partial termination of this Agreement or the complete or partial resignation or removal of the Servicer. 

  
 32 

 SECTION 6.14. Series Liabilities. It is expressly understood and agreed by the Servicer,
and all persons claiming through the Servicer, that the Trust Assets that are allocated to the Lending Facility Pool are intended to support only the Lending Facility and that the Trust Assets that are allocated to each Designated Pool are intended
to support only the related Exchange Note and that the related Secured Parties have expressly agreed to such allocations in the Credit and Security Agreement and the respective Exchange Note Supplements. As such, separate and distinct records shall
be maintained by the Servicer for the Lending Facility Pool and each Designated Pool and the Trust Assets associated with the Lending Facility Pool and each Designated Pool shall be held and accounted for separately from any other assets of the
Titling Trust. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Lending Facility and each Exchange Note shall be enforceable against the Lending Facility Pool or the related
Designated Pool only, and not against the Trust Assets generally or the assets of any other Designated Pool. 
 SECTION 6.15. Termination
of Like Kind Exchanges. If AmeriCredit is terminated as Servicer for any reason under this Agreement, the provisions hereof relating to the reallocation of Leased Vehicles pursuant to Like Kind Exchanges shall be of no further force or effect
and the Successor Servicer shall not be permitted to effect any such Like Kind Exchanges. 
 SECTION 6.16. Limitation of Liability.

 (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by Wilmington
Trust Company, not individually or personally but solely as Trustee of the Titling Trust and as owner trustee of APGO, in the exercise of the powers and authority conferred and vested in it under the Titling Trust Agreement and the Settlor Trust
Agreement, as applicable, (ii) each of the representations, undertakings and agreements herein made on the part of the Titling Trust and APGO is made and intended not as personal representations, undertakings and agreements by Wilmington Trust
Company but is made and intended for the purpose of binding only the Titling Trust and APGO, (iii) nothing herein contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to perform any
covenant either express or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and any Person claiming by, through or under the parties hereto, (iv) Wilmington Trust Company has made no
investigation as to the accuracy or completeness of any representations or warranties made by the Titling Trust or APGO in this Agreement and (v) under no circumstances shall Wilmington Trust Company be personally liable for the payment of any
indebtedness or expenses of the Titling Trust or APGO or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Titling Trust or APGO under this Agreement or the other related documents.

 (b) Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered by Wells Fargo Bank,
National Association, not in its individual capacity but solely as Collateral Agent for the benefit of the Secured Parties and in no event shall Wells Fargo Bank, National Association, have any liability for the representations, warranties,
covenants, agreements or other obligations of the Titling Trust or APGO hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. 

SECTION 6.17. Submission to Jurisdiction; Waiver of Jury Trial. Each of the parties hereto hereby irrevocably and unconditionally: 

  
 33 

 (a) submits for itself and its property in any legal action relating to this Agreement, the Basic
Documents or any other documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the courts of the
United States of America for the Southern District of New York and appellate courts from any thereof; 
 (b) consents that any such action
may be brought in such courts and waives any objection that it may now or hereafter have to the venue of such action in any such court or that such action was brought in an inconvenient court and agrees not to plead or claim the same; and 

(c) waives, to the fullest extent permitted by law, any and all right to trial by jury in any legal proceeding arising out of or relating to
this Agreement, the Basic Documents or the transactions contemplated hereby. 
 SECTION 6.18. No Partnership or Joint Venture. Nothing contained in
this Agreement (a) shall constitute the Servicer and any of the Titling Trust, the Administrative Agent, the Collateral Agent or the Owner Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or
other separate entity, (b) shall be construed to impose any liability as such on any of them or (c) shall be deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the
others. 
 [Remainder of Page Intentionally Left Blank] 

  
 34 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective officers duly authorized as of the day and year first above written. 
  

			
	ACAR LEASING LTD.,
		 	As Titling Trust
		
	By:	 	WILMINGTON TRUST COMPANY,
		 	not in its individual capacity, but solely as Owner Trustee
		
	By:	 	 /s/ Clarice Wright

		 	Name: Clarice Wright
		 	Title: Assistant Vice President
	
	AMERICREDIT FINANCIAL SERVICES, INC.,
		 	as Servicer
		
	By:	 	 /s/ Sheli Fitzgerald

		 	Name: Sheli Fitzgerald
		 	Title: Senior Vice President, Corporate Treasury
	
	APGO TRUST,
		 	as Settlor
		
	By:	 	WILMINGTON TRUST COMPANY,
		 	not in its individual capacity but solely as Owner Trustee
		
	By:	 	 /s/ Clarice Wright

		 	Name: Clarice Wright
		 	Title: Assistant Vice President
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Collateral Agent
		
	By:	 	 /s/ Cheryl Zimmerman

		 	Name: Cheryl Zimmerman
		 	Title: Vice President

 [Signature Page to the Third Amended and Restated Servicing Agreement] 

 EXHIBIT A 

POWER OF ATTORNEY 
  

			
	STATE OF DELAWARE	  	)
		  	)
	COUNTY OF NEW CASTLE	  	)

 KNOW ALL MEN BY THESE PRESENTS, that ACAR Leasing Ltd., a Delaware statutory trust (the
“Trust”), does hereby make, constitute and appoint AmeriCredit Financial Services, Inc., and its agents, employees and attorneys, as Attorneys-in-Fact,
with full power of substitution, to execute, deliver and file on behalf of the Trust all such documents, reports, filings, instruments, certificates and opinions and to apply for and obtain all licenses, qualifications to do business and other
approvals as may be necessary or appropriate to qualify the Trust in accordance with applicable law to acquire, lease and dispose of motor vehicles in any jurisdiction, to initiate, defend, submit to arbitration, commence or settle legal actions
related to leases and the motor vehicles leased thereunder and to engage in any related activities, including, without limitation, to appear for and represent the Trust in connection with such activity, and with full power to perform any and all
acts associated with such activity that the Trust could perform. 
 EXECUTED this     th day
of                    , 20    . 
  

			
	ACAR LEASING LTD.
		
	By:	 	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee, Administrative Trustee and Delaware Trustee
		
	By:	 	  

		 	Name:
		 	Title:

 Before me, the undersigned authority, on this day personally appeared
                    , known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he/she signed
the same for the purposes and considerations therein expressed. 
 Sworn to before me this     th day of
                    , 20    . 

Notary Public -State of
                             

  
 A-1Sphere 3D Corp. - Exhibit 4.1 - Filed by newsfilecorp.com

EXHIBIT 4.1

SPHERE 3D CORP. 

2015 PERFORMANCE INCENTIVE PLAN 

As Amended November 1, 2017 

	1. 	
      PURPOSE OF PLAN

	 	 
		
      The purpose of this Sphere 3D Corp. 2015 Performance
      Incentive Plan (this “Plan”) of Sphere 3D Corp., a corporation
      incorporated under the laws of the Province of Ontario (the
      “Corporation”), is to promote the success of the Corporation and to
      increase shareholder value by providing an additional means through the
      grant of awards to attract, motivate, retain and reward selected employees
      and other eligible persons.

	 	 
	2. 	
      ELIGIBILITY

	 	 
		
      The Administrator (as such term is defined in Section
      3.1) may grant awards under this Plan only to those persons that the
      Administrator determines to be Eligible Persons. An “Eligible
      Person” is any person who is either: (a) an officer (whether or not a
      director) or employee of the Corporation or one of its Subsidiaries; (b) a
      director of the Corporation or one of its Subsidiaries; or (c) an
      individual consultant or advisor who renders or has rendered bona fide
      services (other than services in connection with the offering or sale of
      securities of the Corporation or one of its Subsidiaries in a
      capital-raising transaction or as a market maker or promoter of securities
      of the Corporation or one of its Subsidiaries) to the Corporation or one
      of its Subsidiaries and who is selected to participate in this Plan by the
      Administrator; provided, however, that a person who is otherwise an
      Eligible Person under clause (c) above may participate in this Plan only
      if such participation would not adversely affect either the Corporation’s
      eligibility to use Form S-8 to register under the Securities Act of 1933,
      as amended (the “Securities Act”), the offering and sale of shares
      issuable under this Plan by the Corporation, the Corporation’s ability to
      rely on all necessary prospectus and other exemptions under Canadian
      securities legislation in a manner satisfactory to the Corporation, in its
      sole discretion, or the Corporation’s compliance with any other applicable
      laws. An Eligible Person who has been granted an award (a “participant”)
      may, if otherwise eligible, be granted additional awards if the
      Administrator shall so determine. As used herein, subject to any
      applicable laws that may require a different interpretation,
      “Subsidiary” means any corporation or other entity a majority of
      whose outstanding voting stock or voting power is beneficially owned
      directly or indirectly by the Corporation; and “Board” means the
      Board of Directors of the Corporation.

	 	 
	3. 	
      PLAN ADMINISTRATION

	 	3.1 	
      The Administrator. This Plan shall be
      administered by and all awards under this Plan shall be authorized by the
      Administrator. The “Administrator” means the Board or one or more
      committees appointed by the Board or another committee (within its
      delegated authority and in the manner and on the terms authorized by the
      Board) to administer all or certain aspects of this Plan. Any such
      committee shall be comprised solely of one or more directors or such
      number of directors as may be required under applicable law. A committee
      may delegate some or all of its authority to another committee so
      constituted, to the extent permitted by applicable laws. The Board or a
      committee comprised solely of directors may also delegate, to the extent
      permitted by applicable law, to one or more officers of the Corporation,
      its powers under this Plan (a) to designate the officers and employees of
      the Corporation and its Subsidiaries who will
receive grants of awards under this Plan, and (b) to determine
      the number of shares subject to, and the other terms and conditions of,
      such awards. The Board may delegate different levels of authority to
      different committees with administrative and grant authority under this
      Plan. Unless otherwise provided in the Bylaws of the Corporation or the
      applicable charter of any Administrator: (a) a majority of the members of
      the acting Administrator shall constitute a quorum, and (b) the vote of a
      majority of the members present assuming the presence of a quorum or the
      unanimous written consent of the members of the Administrator shall
      constitute action by the acting Administrator. With respect to awards
      intended to satisfy the requirements for performance-based compensation
      under Section 162(m) of the Internal Revenue Code of 1986, as amended (the
      “Code”), this Plan shall be administered by a committee consisting
      solely of two or more outside directors (as this requirement is applied
      under Section 162(m) of the Code); provided, however, that the failure to
      satisfy such requirement shall not affect the validity of the action of
      any committee otherwise duly authorized and acting in the matter. Award
      grants, and transactions in or involving awards, intended to be exempt
      under Rule 16b-3 under the Securities Exchange Act of 1934, as amended
      (the “Exchange Act”), must be duly and timely authorized by the
      Board or a committee consisting solely of two or more non-employee
      directors (as this requirement is applied under Rule 16b-3 promulgated
      under the Exchange Act). To the extent required by any applicable listing
      agency, this Plan shall be administered by a committee composed entirely
      of independent directors (within the meaning of the applicable listing
      agency).

1 

	 	3.2 	
      Powers of the Administrator. Subject to the
      express provisions of this Plan and applicable laws, the Administrator is
      authorized and empowered to do all things necessary or desirable in
      connection with the authorization of awards and the administration of this
      Plan (in the case of a committee or delegation to one or more officers,
      within the authority delegated to that committee or person(s) and in the
      manner and on the terms authorized by the Board), including, without
      limitation, the authority to:

	 	(a) 	
      determine eligibility and, from among those persons
      determined to be eligible, the particular Eligible Persons who will
      receive an award under this Plan;

	 	 	 
	 	(b) 	
      grant awards to Eligible Persons, determine the price at
      which securities will be offered or awarded and the number of securities
      to be offered or awarded to any of such persons, determine the other
      specific terms and conditions of such awards consistent with the express
      limits of this Plan, establish the installments (if any) in which such
      awards shall become exercisable or shall vest (which may include, without
      limitation, performance and/or time-based schedules), or determine that no
      delayed exercisability or vesting is required, establish any applicable
      performance targets, determine the extent (if any) to which any applicable
      exercise and vesting requirements have been satisfied, and establish the
      events of termination or reversion of such awards;

	 	 	 
	 	(c) 	
      approve the forms of award agreements (which need not be
      identical either as to type of award or among participants);

	 	 	 
	 	(d) 	
      construe and interpret this Plan and any agreements
      defining the rights and obligations of the Corporation, its Subsidiaries,
      and participants under this Plan, make any and all determinations
      necessary under this Plan and any such agreements, further define
    the terms used in this Plan, and prescribe, amend and rescind
      rules and regulations relating to the administration of this Plan or the
      awards granted under this Plan;

2 

	 	(e) 	
      cancel, modify, or waive the Corporation’s rights with
      respect to, or modify, discontinue, suspend, or terminate any or all
      outstanding awards, subject to any required consent under Section
      8.6.5;

	 	 	 
	 	(f) 	
      accelerate or extend the vesting or exercisability or
      extend the term of any or all such outstanding awards (in the case of
      options or stock appreciation rights, within the maximum ten-year term of
      such awards) in such circumstances as the Administrator may deem
      appropriate (including, without limitation, in connection with a
      termination of employment or services or other events of a personal
      nature) subject to any required consent under Section 8.6.5;

	 	 	 
	 	(g) 	
      adjust the number of Common Shares subject to any award,
      adjust the price of any or all outstanding awards or otherwise change
      previously imposed terms and conditions, in such circumstances as the
      Administrator may deem appropriate, in each case subject to Sections 4 and
      8.6 (and subject to the no repricing provision below);

	 	 	 
	 	(h) 	
      determine the date of grant of an award, which may be a
      designated date after but not before the date of the Administrator’s
      action (unless otherwise designated by the Administrator, the date of
      grant of an award shall be the date upon which the Administrator took the
      action granting an award);

	 	 	 
	 	(i) 	
      determine whether, and the extent to which, adjustments
      are required pursuant to Section 7 hereof and authorize the termination,
      conversion, substitution or succession of awards upon the occurrence of an
      event of the type described in Section 7;

	 	 	 
	 	(j) 	
      acquire or settle (subject to Sections 7 and 8.6) rights
      under awards in cash, stock of equivalent value, or other consideration
      (subject to the no repricing provision below); and

	 	 	 
	 	(k) 	
      determine the fair market value of the Common Shares or
      awards under this Plan from time to time and/or the manner in which such
      value will be determined.

	 		
      Notwithstanding the foregoing and except for an
      adjustment pursuant to Section 7.1 or a repricing approved by
      shareholders, in no case may the Administrator (1) amend an outstanding
      stock option or SAR to reduce the exercise price or base price of the
      award, (2) cancel, exchange, or surrender an outstanding stock option or
      SAR in exchange for cash or other awards for the purpose of repricing the
      award, or (3) cancel, exchange, or surrender an outstanding stock option
      or SAR in exchange for an option or SAR with an exercise or base price
      that is less than the exercise or base price of the original
  award.

	 	 	 
	 	3.3 	
      Binding Determinations. Any determination
      or other action taken by, or inaction of, the Corporation, any Subsidiary,
      or the Administrator relating or pursuant to this Plan (or any award made
      under this Plan) and within its authority hereunder or under applicable
      law shall be within the absolute discretion of that entity or body and
      shall be conclusive and binding upon all persons. Neither the Board nor
      any Board committee, nor any member thereof or person acting at the
      direction thereof, shall be liable for any act, omission, interpretation,
      construction or determination made in good faith in connection with this Plan (or any
      award made under this Plan), and all such persons shall be entitled to
      indemnification and reimbursement by the Corporation in respect of any
      claim, loss, damage or expense (including, without limitation, attorneys’
      fees) arising or resulting therefrom to the fullest extent permitted by
      law and/or under any directors and officers liability insurance coverage
      that may be in effect from time to time.

3 

	 	3.4 	
      Reliance on Experts. In making any
      determination or in taking or not taking any action under this Plan, the
      Administrator may obtain and may rely upon the advice of experts,
      including employees and professional advisors to the Corporation. To the
      fullest extent permitted by law, no director, officer or agent of the
      Corporation or any of its Subsidiaries shall be liable for any such action
      or determination taken or made or omitted in good faith.

	 	 	 
	 	3.5 	
      Delegation. The Administrator may delegate
      ministerial, non-discretionary functions to individuals who are officers
      or employees of the Corporation or any of its Subsidiaries or to third
      parties.

	4. 	
      COMMON SHARES SUBJECT TO THE PLAN; SHARE
    LIMITS

	 	4.1 	
      Shares Available. Subject to the provisions
      of Section 7.1, the shares that may be delivered under this Plan shall be
      the Corporation’s authorized but unissued Common Shares. For purposes of
      this Plan, “Common Shares” shall mean the common shares of the
      Corporation and such other securities or property as may become the
      subject of awards under this Plan, or may become subject to such awards,
      pursuant to an adjustment made under Section 7.1.

	 	 	 
	 	4.2 	
      Share Limits. The maximum number of Common
      Shares that may be delivered pursuant to awards granted to Eligible
      Persons under this Plan (the “Share Limit”) is equal to the sum of
      the following:

	 	(1) 	
      2,066,747 Common Shares, plus

	 	 	 
	 	(2) 	
      the number of any Common Shares subject to stock options
      granted under the Corporation’s Second Amended and Restated Stock Option
      Plan (the “Prior Plan”) and outstanding on June 18, 2015 which
      expire, or for any reason are cancelled or terminated, after that date
      without being exercised.

The following limits also apply with
respect to awards granted under this Plan: 

	 	(a) 	
      The maximum number of Common Shares that may be delivered
      pursuant to options qualified as incentive stock options granted under
      this Plan is 311,729 shares.

	 	 	 
	 	(b) 	
      The maximum number of Common Shares subject to those
      options and stock appreciation rights that are granted during any fiscal
      year of the Corporation to any individual under this Plan is 300,000
      shares.

	 	 	 
	 	(c) 	
      Additional limits with respect to Performance-Based
      Awards are set forth in Section 5.2.3.

Each of the foregoing numerical limits
is subject to adjustment as contemplated by Section 4.3, Section 7.1, and
Section 8.10. 

4 

	 	4.3 	
      Awards Settled in Cash, Reissue of Awards and
      Shares. Except as provided in the next sentence, shares that are
      subject to or underlie awards granted under this Plan which expire or for
      any reason are cancelled or terminated, are forfeited, fail to vest, or
      for any other reason are not paid or delivered under this Plan shall again
      be available for subsequent awards under this Plan. Shares that are
      exchanged by a participant or withheld by the Corporation as full or
      partial payment in connection with any award granted under this Plan, as
      well as any shares exchanged by a participant or withheld by the
      Corporation or one of its Subsidiaries to satisfy the tax withholding
      obligations related to any award granted under this Plan, shall be
      available for subsequent awards under this Plan. To the extent that an
      award granted under this Plan is settled in cash or a form other than
      Common Shares, the shares that would have been delivered had there been no
      such cash or other settlement shall not be counted against the shares
      available for issuance under this Plan. In the event that Common Shares
      are delivered in respect of a dividend equivalent right granted under this
      Plan, the number of shares actually delivered with respect to the award
      shall be counted against the share limits of this Plan. To the extent that
      Common Shares are delivered pursuant to the exercise of a stock
      appreciation right or stock option granted under this Plan, the number of
      shares actually delivered with respect to the award shall be counted
      against the share limits of this Plan. Refer to Section 8.10 for
      application of the foregoing share limits with respect to assumed awards.
      The foregoing adjustments to the share limits of this Plan are subject to
      any applicable limitations under Section 162(m) of the Code with respect
      to awards intended as performance- based compensation
thereunder.

	 	 	 
	 	4.4 	
      Reservation of Shares; No Fractional Shares;
      Minimum Issue. The Corporation shall at all times reserve a number
      of Common Shares sufficient to cover the Corporation’s obligations and
      contingent obligations to deliver shares with respect to awards then
      outstanding under this Plan (exclusive of any dividend equivalent
      obligations to the extent the Corporation has the right to settle such
      rights in cash). No fractional shares shall be delivered under this Plan.
      The Administrator may pay cash in lieu of any fractional shares in
      settlements of awards under this Plan. The Administrator may from time to
      time impose a limit (of not greater than 100 shares) on the minimum number
      of shares that may be purchased or exercised as to awards granted under
      this Plan unless (as to any particular award) the total number purchased
      or exercised is the total number at the time available for purchase or
      exercise under the award.

	5. 	
      AWARDS

	 	5.1 	
      Type and Form of Awards. The Administrator
      shall determine the type or types of award(s) to be made to each selected
      Eligible Person. Awards may be granted singly, in combination or in
      tandem. Awards also may be made in combination or in tandem with, in
      replacement of, as alternatives to, or as the payment form for grants or
      rights under any other employee or compensation plan of the Corporation or
      one of its Subsidiaries. The types of awards that may be granted under
      this Plan are (subject, in each case, to the no repricing provisions of
      Section 3.2):

	 	 	 
	 		
      5.1.1       
      Stock Options. A stock option is the grant of a right to purchase
      a specified number of Common Shares during a specified period as
      determined by the Administrator. An option may be intended as an incentive
      stock option within the meaning of Section 422 of the Code (an
      “ISO”) or a nonqualified stock option (an option not intended to be
      an ISO). The award agreement for an option will indicate if the option is
      intended as an ISO; otherwise it will be deemed to be a nonqualified stock
      option. The maximum term of each option (ISO or nonqualified) shall be
      ten (10) years. The per share exercise
price for each option shall be not less than 100% of the fair market value of a
Common Share on the date of grant of the option. When an option is exercised,
the exercise price for the shares to be purchased shall be paid in full in cash
or such other method permitted by the Administrator consistent with Section
5.5. 

5 

5.1.2        Additional
Rules Applicable to ISOs. To the extent that the aggregate fair market
value (determined at the time of grant of the applicable option) of stock with
respect to which ISOs first become exercisable by a participant in any calendar
year exceeds $100,000, taking into account both Common Shares subject to ISOs
under this Plan and stock subject to ISOs under all other plans of the
Corporation or one of its Subsidiaries (or any parent or predecessor corporation
to the extent required by and within the meaning of Section 422 of the Code and
the regulations promulgated thereunder), such options shall be treated as
nonqualified stock options. In reducing the number of options treated as ISOs to
meet the $100,000 limit, the most recently granted options shall be reduced
first. To the extent a reduction of simultaneously granted options is necessary
to meet the $100,000 limit, the Administrator may, in the manner and to the
extent permitted by law, designate which Common Shares are to be treated as
shares acquired pursuant to the exercise of an ISO. ISOs may only be granted to
employees of the Corporation or one of its subsidiaries (for this purpose, the
term “subsidiary” is used as defined in Section 424(f) of the Code, which
generally requires an unbroken chain of ownership of at least 50% of the total
combined voting power of all classes of stock of each subsidiary in the chain
beginning with the Corporation and ending with the subsidiary in question).
There shall be imposed in any award agreement relating to ISOs such other terms
and conditions as from time to time are required in order that the option be an
“incentive stock option” as that term is defined in Section 422 of the Code. No
ISO may be granted to any person who, at the time the option is granted, owns
(or is deemed to own under Section 424(d) of the Code) shares of outstanding
Common Shares possessing more than 10% of the total combined voting power of all
classes of stock of the Corporation, unless the exercise price of such option is
at least 110% of the fair market value of the stock subject to the option and
such option by its terms is not exercisable after the expiration of five years
from the date such option is granted. 

5.1.3        Stock
Appreciation Rights. A stock appreciation right or “SAR” is a
right to receive a payment, in cash and/or Common Shares, equal to the excess of
the fair market value of a specified number of Common Shares on the date the SAR
is exercised over the “base price” of the award, which base price shall
be set forth in the applicable award agreement and shall be not less than 100%
of the fair market value of a Common Share on the date of grant of the SAR. The
maximum term of a SAR shall be ten (10) years. 

5.1.4        Other
Awards; Dividend Equivalent Rights. The other types of awards that may
be granted under this Plan include: (a) stock bonuses, restricted stock,
performance stock, stock units, phantom stock or similar rights to purchase or
acquire shares, whether at a fixed or variable price (or no price) or fixed or
variable ratio related to the Common Shares, and any of which may (but need not)
be fully vested at grant or vest upon the passage of time, the occurrence of one
or more events, the satisfaction of performance criteria or other conditions, or
any combination thereof; (b) any similar securities with a value derived from
the value of or related to the Common Shares and/or returns thereon; or (c) cash
awards. Dividend equivalent rights may be granted as a separate award or in
connection with another award under this Plan; provided, however, that dividend
equivalent rights may not be granted in connection with a stock option or SAR
granted under this Plan. In addition, any dividends and/or dividend
      equivalents as to the unvested portion of a restricted stock award that is
      subject to performance-based vesting requirements or the unvested portion
      of a stock unit award that is subject to performance-based vesting
      requirements will be subject to termination and forfeiture to the same
      extent as the corresponding portion of the award to which they
    relate.

6 

	 		
       
	 	 	
       

	 	5.2 	
      Section 162(m) Performance-Based Awards.
      Without limiting the generality of the foregoing, any of the types of
      awards listed in Section 5.1.4 above may be, and options and SARs granted
      to officers and employees (“Qualifying Options” and “Qualifying
      SARS,” respectively) typically will be, granted as awards intended to
      satisfy the requirements for “performance-based compensation” within the
      meaning of Section 162(m) of the Code (“Performance-Based
      Awards”). The grant, vesting, exercisability or payment of
      Performance-Based Awards may depend (or, in the case of Qualifying Options
      or Qualifying SARs, may also depend) on the degree of achievement of one
      or more performance goals relative to a pre-established targeted level or
      levels using one or more of the Business Criteria set forth below (on an
      absolute or relative (including, without limitation, relative to the
      performance of other companies or upon comparisons of any of the
      indicators of performance relative to other companies) basis) for the
      Corporation on a consolidated basis or for one or more of the
      Corporation’s subsidiaries, segments, divisions or business units, or any
      combination of the foregoing. Any Qualifying Option or Qualifying SAR
      shall be subject only to the requirements of Section 5.2.1 and 5.2.3 in
      order for such award to satisfy the requirements for “performance-based
      compensation” under Section 162(m) of the Code. Any other
      Performance-Based Award shall be subject to all of the following
      provisions of this Section 5.2.

	 	 	
       

	 		
      5.2.1      
       Class; Administrator. The eligible
      class of persons for Performance-Based Awards under this Section 5.2 shall
      be officers and employees of the Corporation or one of its Subsidiaries.
      The Administrator approving Performance-Based Awards or making any
      certification required pursuant to Section 5.2.4 must be constituted as
      provided in Section 3.1 for awards that are intended as performance-based
      compensation under Section 162(m) of the Code.

	 	 	
       

	 		
      5.2.2       
      Performance Goals. The specific performance goals for
      Performance-Based Awards (other than Qualifying Options and Qualifying
      SARs) shall be, on an absolute or relative basis, established based on one
      or more of the following business criteria (“Business Criteria”) as
      selected by the Administrator in its sole discretion: earnings per share,
      cash flow (which means cash and cash equivalents derived from either net
      cash flow from operations or net cash flow from operations, financing and
      investing activities), stock price, total shareholder return, gross
      revenue, revenue growth, operating income (before or after taxes), net
      earnings (before or after interest, taxes, depreciation and/or
      amortization), return on equity or on assets or on net investment, cost
      containment or reduction, or any combination thereof. These terms are used
      as applied under generally accepted accounting principles or in the
      financial reporting of the Corporation or of its Subsidiaries. To qualify
      awards as performance-based under Section 162(m), the applicable Business
      Criterion (or Business Criteria, as the case may be) and specific
      performance goal or goals (“targets”) must be established and approved by
      the Administrator during the first 90 days of the performance period (and,
      in the case of performance periods of less than one year, in no event
      after 25% or more of the performance period has elapsed) and while
      performance relating to such target(s) remains substantially uncertain
      within the meaning of Section 162(m) of the Code. The terms of the
      Performance-Based Awards may specify the manner, if any, in which
      performance targets shall be adjusted to mitigate
the unbudgeted impact of material, unusual or nonrecurring gains and losses,
accounting changes or other items specified by the Administrator at the time of
establishing the targets. The applicable performance measurement period may not
be less than three months nor more than 10 years. 

7 

5.2.3    
 Form of Payment; Maximum Performance-Based Award. Grants or
awards under this Section 5.2 may be paid in cash or Common Shares or any
combination thereof. Grants of Qualifying Options and Qualifying SARs to any one
participant in any one calendar year shall be subject to the limit set forth in
Section 4.2(b) . The maximum number of Common Shares which may be subject to
Performance-Based Awards (including Performance-Based Awards payable in Common
Shares and Performance-Based Awards payable in cash where the amount of cash
payable upon or following vesting of the award is determined with reference to
the fair market value of a Common Share at such time) that are granted to any
one participant in any one fiscal year of the Corporation shall not exceed
300,000 shares (counting such shares on a one-for-one basis for this
purpose), either individually or in the aggregate, subject to adjustment as
provided in Section 7.1; provided that this limit shall not apply to Qualifying
Options and Qualifying SARs (which are covered by the limit of Section 4.2(b)) .
The aggregate amount of compensation to be paid to any one participant in
respect of all Performance-Based Awards payable only in cash (excluding cash
awards covered by the preceding sentence where the cash payment is determined
with reference to the fair market value of a Common Share upon or following the
vesting of the award) and granted to that participant in any one fiscal year of
the Corporation shall not exceed $5,000,000. Awards that are cancelled during
the year shall be counted against these limits to the extent required by Section
162(m) of the Code. 

5.2.4      Certification of
Payment. Before any Performance-Based Award under this Section
5.2 (other than Qualifying Options and Qualifying SARs) is paid and to the
extent required to qualify the award as performance-based compensation within
the meaning of Section 162(m) of the Code, the Administrator must certify in
writing that the performance target(s) and any other material terms of the
Performance-Based Award were in fact timely satisfied. 

5.2.5    
 Reservation of Discretion. Subject to Section 3 hereof and
applicable laws, the Administrator will have the discretion to determine the
restrictions or other limitations of the individual awards granted under this
Section 5.2 including the authority to reduce awards, payouts or vesting or to
pay no awards, in its sole discretion, if the Administrator preserves such
authority at the time of grant by language to this effect in its authorizing
resolutions or otherwise. 

5.2.6    
 Expiration of Grant Authority. As required pursuant to
Section 162(m) of the Code and the regulations promulgated thereunder, the
Administrator’s authority to grant new awards that are intended to qualify as
performance-based compensation within the meaning of Section 162(m) of the Code
(other than Qualifying Options and Qualifying SARs) shall terminate upon the
first meeting of the Corporation’s shareholders that occurs in the fifth year
following the year in which the Corporation’s shareholders first approve this
Plan, subject to any subsequent extension that may be approved by
shareholders.

	 	5.3 	
                             
      Award Agreements. Each award shall be evidenced
      by either (1) a written award agreement in a form approved by the
      Administrator and executed by the Corporation by an officer duly
      authorized to act on its behalf, or (2) an electronic notice of award
      grant in a form approved by the Administrator and recorded by the
      Corporation (or its designee) in an electronic recordkeeping system used for the purpose of tracking
      award grants under this Plan generally (in each case, an “award
      agreement”), as the Administrator may provide and, in each case and if
      required by the Administrator, executed or otherwise electronically
      accepted by the recipient of the award in such form and manner as the
      Administrator may require. The Administrator may authorize any officer of
      the Corporation (other than the particular award recipient) to execute any
      or all award agreements on behalf of the Corporation. The award agreement
      shall set forth the material terms and conditions of the award as
      established by the Administrator consistent with the express limitations
      of this Plan.

8 

	 	5.4 	
      Deferrals and Settlements. Payment of
      awards may be in the form of cash, Common Shares, other awards or
      combinations thereof as the Administrator shall determine, and with such
      restrictions as it may impose. The Administrator may also require or
      permit participants to elect to defer the issuance of shares or the
      settlement of awards in cash under such rules and procedures as it may
      establish under this Plan. The Administrator may also provide that
      deferred settlements include the payment or crediting of interest or other
      earnings on the deferral amounts, or the payment or crediting of dividend
      equivalents where the deferred amounts are denominated in
shares.

	 	 	 
	 	5.5 	
      Consideration for Common Shares or Awards.
      The purchase price for any award granted under this Plan or the Common
      Shares to be delivered pursuant to an award, as applicable, may be paid by
      means of any lawful consideration as determined by the Administrator,
      including, without limitation, one or a combination of the following
      methods:

	 	• 	
      services rendered by the recipient of such award;
  

	 	• 	
      cash, check payable to the order of the Corporation, or
      electronic funds transfer; 

	 	• 	
      notice and third party payment in such manner as may be
      authorized by the Administrator; 

	 	• 	
      the delivery of previously owned Common Shares;

	 	• 	
      by a reduction in the number of shares otherwise
      deliverable pursuant to the award; or 

	 	• 	
      subject to such procedures as the Administrator may
      adopt, pursuant to a “cashless exercise” with a third party who provides
      financing for the purposes of (or who otherwise facilitates) the purchase
      or exercise of awards. 

	 		
      In no event shall any shares newly-issued by the
      Corporation be issued for less than the minimum lawful consideration for
      such shares or for consideration other than consideration permitted by
      applicable law. Common Shares used to satisfy the exercise price of an
      option shall be valued at their fair market value on the date of exercise.
      The Corporation will not be obligated to deliver any shares unless and
      until it receives full payment of the exercise or purchase price therefor
      and any related withholding obligations under Section 8.5 and any other
      conditions to exercise or purchase have been satisfied. Unless otherwise
      expressly provided in the applicable award agreement, the Administrator
      may at any time eliminate or limit a participant’s ability to pay the
      purchase or exercise price of any award or shares by any method other than
      cash payment to the Corporation. Common Shares delivered pursuant to
      Awards granted under this Plan, when the applicable consideration therefor
      shall have been received by the Corporation, shall be duly issued as fully
      paid and non-assessable.

	 	 	 
	 	5.6 	
      Definition of Fair Market Value. For
      purposes of this Plan, “fair market value” shall mean, unless otherwise
      determined or provided by the Administrator in the circumstances, the
      closing price (in regular trading) for a Common Share on the NASDAQ Stock
      Market (the “Market”) for the date in question or, if no sales of Common Shares were
      reported on the Market on that date, the closing price (in regular
      trading) for a Common Share on the Market for the next preceding day on
      which sales of Common Shares were reported on the Market. The
      Administrator may, however, provide with respect to one or more awards
      that the fair market value shall equal the closing price (in regular
      trading) for a Common Share on the Market on the last trading day
      preceding the date in question or the average of the high and low trading
      prices of a Common Share on the Market for the date in question or the
      most recent trading day. If the Common Shares are no longer listed or are
      no longer actively traded on the Market as of the applicable date, the
      fair market value of the Common Shares shall be the value as reasonably
      determined by the Administrator for purposes of the award in the
      circumstances. The Administrator also may adopt a different methodology
      for determining fair market value with respect to one or more awards if a
      different methodology is necessary or advisable to secure any intended
      favorable tax, legal or other treatment for the particular award(s) (for
      example, and without limitation, the Administrator may provide that fair
      market value for purposes of one or more awards will be based on an
      average of closing prices (or the average of high and low daily trading
      prices) for a specified period preceding the relevant date).

9 

	 	5.7 	
      Transfer Restrictions.

	 	 	
       

	 		
      5.7.1     
      Limitations on Exercise and Transfer. Unless otherwise
      expressly provided in (or pursuant to) this Section 5.7 or required by
      applicable law: (a) all awards are non-transferable and shall not be
      subject in any manner to sale, transfer, anticipation, alienation,
      assignment, pledge, encumbrance or charge; (b) awards shall be exercised
      only by the participant; and (c) amounts payable or shares issuable
      pursuant to any award shall be delivered only to (or for the account of)
      the participant.

	 	 	
       

	 		
      5.7.2     
      Exceptions. The Administrator may permit awards to be
      exercised by and paid to, or otherwise transferred to, other persons or
      entities pursuant to such conditions and procedures, including limitations
      on subsequent transfers, as the Administrator may, in its sole discretion,
      establish in writing. Any permitted transfer shall be subject to
      compliance with applicable federal, provincial and state securities laws
      and shall not be for value (other than nominal consideration, settlement
      of marital property rights, or for interests in an entity in which more
      than 50% of the voting interests are held by the Eligible Person or by the
      Eligible Person’s family members).

	 	 	
       

	 		
      5.7.3     
      Further Exceptions to Limits on Transfer. The exercise and
      transfer restrictions in Section 5.7.1 shall not apply
  to:

	 	(a) 	
      transfers to the Corporation (for example, in connection
      with the expiration or termination of the award),

	 	 	 
	 	(b) 	
      the designation of a beneficiary to receive benefits in
      the event of the participant’s death or, if the participant has died,
      transfers to or exercise by the participant’s beneficiary, or, in the
      absence of a validly designated beneficiary or if such designation cannot
      be validly made, transfers by will or the laws of descent and
      distribution,

	 	 	 
	 	(c) 	
      subject to any applicable limitations on ISOs, transfers
      to a family member (or former family member) pursuant to a domestic
      relations order if approved or ratified by the
  Administrator,

10 

	 	(d) 	
      if the participant has suffered a disability, permitted
      transfers or exercises on behalf of the participant by his or her legal
      representative, or

	 	 	 
	 	(e) 	
      the authorization by the Administrator of “cashless
      exercise” procedures with third parties who provide financing for the
      purpose of (or who otherwise facilitate) the exercise of awards consistent
      with applicable laws and the express authorization of the
      Administrator.

	 	5.8 	
      International Awards. One or more awards
      may be granted to Eligible Persons who provide services to the Corporation
      or one of its Subsidiaries outside of the United States. Any awards
      granted to such persons may be granted pursuant to the terms and
      conditions of any applicable sub-plans, if any, appended to this Plan and
      approved by the Administrator. The awards so granted need not comply with
      other specific terms of this Plan, provided that shareholder approval of
      any deviation from the specific terms of this Plan is not required by
      applicable law or any applicable listing
agency.

	6. 	
      EFFECT OF TERMINATION OF EMPLOYMENT OR SERVICE ON
      AWARDS

	 	6.1 	
      General. The Administrator shall establish
      the effect of a termination of employment or service on the rights and
      benefits under each award under this Plan and in so doing may make
      distinctions based upon, inter alia, the cause of termination and type of
      award. If the participant is not an employee of the Corporation or one of
      its Subsidiaries and provides other services to the Corporation or one of
      its Subsidiaries, the Administrator shall be the sole judge for purposes
      of this Plan (unless a contract or the award otherwise provides) of
      whether the participant continues to render services to the Corporation or
      one of its Subsidiaries and the date, if any, upon which such services
      shall be deemed to have terminated.

	 	 	 
	 	6.2 	
      Events Not Deemed Terminations of Service.
      Unless the express policy of the Corporation or one of its Subsidiaries,
      or the Administrator, otherwise provides, or except as otherwise required
      by applicable law, the employment relationship shall not be considered
      terminated in the case of (a) sick leave, (b) military leave, or (c) any
      other leave of absence authorized by the Corporation or one of its
      Subsidiaries, or the Administrator; provided that, unless reemployment
      upon the expiration of such leave is guaranteed by contract or law or the
      Administrator otherwise provides, such leave is for a period of not more
      than three months. In the case of any employee of the Corporation or one
      of its Subsidiaries on an approved leave of absence, continued vesting of
      the award while on leave from the employ of the Corporation or one of its
      Subsidiaries may be suspended until the employee returns to service,
      unless the Administrator otherwise provides or applicable law otherwise
      requires. In no event shall an award be exercised after the expiration of
      the term set forth in the applicable award
agreement.

11 

	 	6.3 	
      Effect of Change of Subsidiary Status. For
      purposes of this Plan and any award, if an entity ceases to be a
      Subsidiary of the Corporation a termination of employment or service shall
      be deemed to have occurred with respect to each Eligible Person in respect
      of such Subsidiary who does not continue as an Eligible Person in respect
      of the Corporation or another Subsidiary that continues as such after
      giving effect to the transaction or other event giving rise to the change
      in status unless the Subsidiary that is sold, spun-off or otherwise
      divested (or its successor or a direct or indirect parent of such
      Subsidiary or successor) assumes the Eligible Person’s award(s) in
      connection with such transaction.

	7. 	
      ADJUSTMENTS;
ACCELERATION

	 	7.1 	
      Adjustments. Subject to Section 7.2, upon
      (or, as may be necessary to effect the adjustment, immediately prior to):
      any reclassification, recapitalization, stock split (including a stock
      split in the form of a stock dividend) or reverse stock split; any merger,
      amalgamation, combination, consolidation, conversion or other
      reorganization; any spin-off, split-up, or similar extraordinary dividend
      distribution in respect of the Common Shares; or any exchange of Common
      Shares or other securities of the Corporation, or any similar, unusual or
      extraordinary corporate transaction in respect of the Common Shares; then
      the Administrator shall equitably and proportionately adjust (1) the
      number and type of Common Shares (or other securities) that thereafter may
      be made the subject of awards (including the specific share limits,
      maximums and numbers of shares set forth elsewhere in this Plan), (2) the
      number, amount and type of Common Shares (or other securities or property)
      subject to any outstanding awards, (3) the grant, purchase, or exercise
      price (which term includes the base price of any SAR or similar right) of
      any outstanding awards, and/or (4) the securities, cash or other property
      deliverable upon exercise or payment of any outstanding awards, in each
      case to the extent necessary to preserve (but not increase) the level of
      incentives intended by this Plan and the then-outstanding
awards.

	 	 	 
	 		
      Unless otherwise expressly provided in the applicable
      award agreement, upon (or, as may be necessary to effect the adjustment,
      immediately prior to) any event or transaction described in the preceding
      paragraph or a sale of all or substantially all of the business or assets
      of the Corporation as an entirety, the Administrator shall equitably and
      proportionately adjust the performance standards applicable to any
      then-outstanding performance-based awards to the extent necessary to
      preserve (but not increase) the level of incentives intended by this Plan
      and the then-outstanding performance-based awards.

	 	 	 
	 		
      It is intended that, if possible, any adjustments
      contemplated by the preceding two paragraphs be made in a manner that
      satisfies applicable Canadian and U.S. legal, tax (including, without
      limitation and as applicable in the circumstances, Section 424 of the
      Code, Section 409A of the Code and Section 162(m) of the Code) and
      accounting (so as to not trigger any charge to earnings with respect to
      such adjustment) requirements.

	 	 	 
	 		
      Without limiting the generality of Section 3.3, any good
      faith determination by the Administrator as to whether an adjustment is
      required in the circumstances pursuant to this Section 7.1, and the extent
      and nature of any such adjustment, shall be conclusive and binding on all
      persons.

12 

	 	7.2 	
      Corporate Transactions - Assumption and Termination
      of Awards. Upon the occurrence of any of the following: any
      recapitalization, merger, amalgamation, combination, consolidation,
      conversion or other reorganization in connection with which the
      Corporation does not survive (or does not survive as a public company in
      respect of its Common Shares); any exchange of Common Shares or other
      securities of the Corporation in connection with which the Corporation
      does not survive (or does not survive as a public company in respect of
      its Common Shares); a sale of all or substantially all the business, stock
      or assets of the Corporation in connection with which the Corporation does
      not survive (or does not survive as a public company in respect of its
      Common Shares); a dissolution of the Corporation; or any other event in
      which the Corporation does not survive (or does not survive as a public
      company in respect of its Common Shares); then the Administrator may make
      provision for a cash payment in settlement of, or for the termination,
      assumption, substitution or exchange of any or all outstanding share-based
      awards or the cash, securities or property deliverable to the holder of
      any or all outstanding share-based awards, based upon, to the extent
      relevant under the circumstances, the distribution or consideration
      payable to holders of the Common Shares upon or in respect of such event.
      Upon the occurrence of any event described in the preceding sentence,
      then, unless the Administrator has made a provision for the substitution,
      assumption, exchange or other continuation or settlement of the award or
      the award would otherwise continue in accordance with its terms in the
      circumstances: (1) unless otherwise provided in the applicable award
      agreement, each then-outstanding option and SAR shall become fully vested,
      all shares of restricted stock then outstanding shall fully vest free of
      restrictions, and each other award granted under this Plan that is then
      outstanding shall become payable to the holder of such award; and (2) each
      award shall terminate upon the related event; provided that the holder of
      an option or SAR shall be given reasonable advance notice of the impending
      termination and a reasonable opportunity to exercise his or her
      outstanding vested options and SARs (after giving effect to any
      accelerated vesting required in the circumstances) in accordance with
      their terms before the termination of such awards (except that in no case
      shall more than ten days’ notice of the impending termination be required
      and any acceleration of vesting and any exercise of any portion of an
      award that is so accelerated may be made contingent upon the actual
      occurrence of the event).

	 	 	 
	 		
      Without limiting the preceding paragraph, in connection
      with any event referred to in the preceding paragraph or any change in
      control event defined in any applicable award agreement, the Administrator
      may, in its discretion, provide for the accelerated vesting of any award
      or awards as and to the extent determined by the Administrator in the
      circumstances.

	 	 	 
	 		
      The Administrator may adopt such valuation methodologies
      for outstanding awards as it deems reasonable in the event of a cash or
      property settlement and, in the case of options, SARs or similar rights,
      but without limitation on other methodologies, may base such settlement
      solely upon the excess if any of the per share amount payable upon or in
      respect of such event over the exercise or base price of the
  award.

	 	 	 
	 		
      In any of the events referred to in this Section 7.2, the
      Administrator may take such action contemplated by this Section 7.2 prior
      to such event (as opposed to on the occurrence of such event) to the
      extent that the Administrator deems the action necessary to permit the
      participant to realize the benefits intended to be conveyed with respect
      to the underlying shares. Without limiting the generality of the
      foregoing, the Administrator may deem an acceleration and/or termination
      to occur immediately prior to the applicable event and, in such
      circumstances, will reinstate the original terms of the award if an event
      giving rise to an acceleration and/or termination does not
occur.

13 

	 		
      Without limiting the generality of Section 3.3, any good
      faith determination by the Administrator pursuant to its authority under
      this Section 7.2 shall be conclusive and binding on all persons.

	 	 	 
	 	7.3 	
      Other Acceleration Rules. The Administrator
      may override the provisions of Section 7.2 by express provision in the
      award agreement and may accord any Eligible Person a right to refuse any
      acceleration, whether pursuant to the award agreement or otherwise, in
      such circumstances as the Administrator may approve. The portion of any
      ISO accelerated in connection with an event referred to in Section 7.2 (or
      such other circumstances as may trigger accelerated vesting of the award)
      shall remain exercisable as an ISO only to the extent the applicable
      $100,000 limitation on ISOs is not exceeded. To the extent exceeded, the
      accelerated portion of the option shall be exercisable as a nonqualified
      stock option under the Code.

	8. 	
      OTHER PROVISIONS

	 	8.1 	
      Compliance with Laws. This Plan, the
      granting and vesting of awards under this Plan, the offer, issuance and
      delivery of Common Shares, and/or the payment of money under this Plan or
      under awards are subject to compliance with all applicable federal,
      provincial, state, local and foreign laws, rules and regulations
      (including but not limited to provincial, state and federal securities law
      and federal margin requirements) and to such approvals by any listing,
      regulatory or governmental authority as may, in the opinion of counsel for
      the Corporation, be necessary or advisable in connection therewith. The
      person acquiring any securities under this Plan will, if requested by the
      Corporation or one of its Subsidiaries, provide such assurances and
      representations to the Corporation or one of its Subsidiaries as the
      Administrator may deem necessary or desirable to assure compliance with
      all applicable legal and accounting requirements.

	 	 	 
	 	8.2 	
      No Rights to Award. No person shall have
      any claim or rights to be granted an award (or additional awards, as the
      case may be) under this Plan, subject to any express contractual rights
      (set forth in a document other than this Plan) to the contrary.

	 	 	 
	 	8.3 	
      No Employment/Service Contract. Nothing
      contained in this Plan (or in any other documents under this Plan or in
      any award) shall confer upon any Eligible Person or other participant any
      right to continue in the employ or other service of the Corporation or one
      of its Subsidiaries, constitute any contract or agreement of employment or
      other service or affect an employee’s status as an employee at will, nor
      shall interfere in any way with the right of the Corporation or one of its
      Subsidiaries to change a person’s compensation or other benefits, or to
      terminate his or her employment or other service, with or without cause.
      Nothing in this Section 8.3, however, is intended to adversely affect any
      express independent right of such person under a separate employment or
      service contract other than an award agreement.

	 	 	 
	 	8.4 	
      Plan Not Funded. Awards payable under this
      Plan shall be payable in shares or from the general assets of the
      Corporation, and no special or separate reserve, fund or deposit shall be
      made to assure payment of such awards. No participant, beneficiary or
      other person shall have any right, title or interest in any fund or in any
      specific asset (including Common Shares, except as expressly otherwise
      provided) of the Corporation or one of its Subsidiaries by reason of any
      award hereunder. Neither the provisions of this Plan (or of any related
      documents), nor the creation or adoption of this Plan, nor any action taken pursuant to
      the provisions of this Plan shall create, or be construed to create, a
      trust of any kind or a fiduciary relationship between the Corporation or
      one of its Subsidiaries and any participant, beneficiary or other person.
      To the extent that a participant, beneficiary or other person acquires a
      right to receive payment pursuant to any award hereunder, such right shall
      be no greater than the right of any unsecured general creditor of the
      Corporation.

14 

	 	8.5 	
      Tax Withholding. Upon any exercise,
      vesting, or payment of any award, or upon the disposition of Common Shares
      acquired pursuant to the exercise of an ISO prior to satisfaction of the
      holding period requirements of Section 422 of the Code, or upon any other
      tax withholding event with respect to any award, arrangements satisfactory
      to the Corporation shall be made to provide for any taxes the Corporation
      or any of its Subsidiaries may be required to withhold with respect to
      such award event or payment. Such arrangements may include (but are not
      limited to) any one of (or a combination of) the
  following:

	 	(a) 	
      The Corporation or one of its Subsidiaries shall have the
      right to require the participant (or the participant’s personal
      representative or beneficiary, as the case may be) to pay or provide for
      payment of at least the minimum amount of any taxes which the Corporation
      or one of its Subsidiaries may be required to withhold with respect to
      such award event or payment.

	 	 	 
	 	(b) 	
      The Corporation or one of its Subsidiaries shall have the
      right to deduct from any amount otherwise payable in cash (whether related
      to the award or otherwise) to the participant (or the participant’s
      personal representative or beneficiary, as the case may be) the minimum
      amount of any taxes which the Corporation or one of its Subsidiaries may
      be required to withhold with respect to such award event or
  payment.

	 	 	 
	 	(c) 	
      In any case where a tax is required to be withheld in
      connection with the delivery of Common Shares under this Plan, the
      Administrator may in its sole discretion (subject to Section 8.1) require
      or grant (either at the time of the award or thereafter) to the
      participant the right to elect, pursuant to such rules and subject to such
      conditions as the Administrator may establish, that the Corporation reduce
      the number of shares to be delivered by (or otherwise reacquire) the
      appropriate number of shares, valued in a consistent manner at their fair
      market value or at the sales price in accordance with authorized
      procedures for cashless exercises, necessary to satisfy the minimum
      applicable withholding obligation on exercise, vesting or payment. In no
      event shall the shares withheld exceed the minimum whole number of shares
      required for tax withholding under applicable
law.

	 	8.6 	
      Effective Date, Termination and Suspension,
      Amendments.

8.6.1      Effective
Date. This Plan is effective as of May 15, 2015, the date of its
approval by the Board (the “Effective Date”). This Plan shall be
submitted for and subject to shareholder approval no later than twelve months
after the Effective Date. Unless earlier terminated by the Board, this Plan
shall terminate at the close of business on the day before the tenth anniversary
of the Effective Date. After the termination of this Plan either upon such
stated expiration date or its earlier termination by the Board, no additional
awards may be granted under this Plan, but previously granted awards (and the
authority of the Administrator with respect thereto, including the authority to
amend such awards) shall remain outstanding in accordance with their applicable
terms and conditions and the terms and conditions of this Plan.
 

15 

8.6.2      Board
Authorization. The Board may, at any time, terminate or, from time to
time, amend, modify or suspend this Plan, in whole or in part. No awards may be
granted during any period that the Board suspends this Plan. 

8.6.3      Shareholder
Approval. To the extent then required by applicable law or any
applicable listing agency or required under Sections 162, 422 or 424 of the Code
to preserve the intended tax consequences of this Plan, or deemed necessary or
advisable by the Board, any amendment to this Plan shall be subject to
shareholder approval. 

8.6.4      Amendments to
Awards. Without limiting any other express authority of the
Administrator under (but subject to) the express limits of this Plan, the
Administrator by agreement or resolution may waive conditions of or limitations
on awards to participants that the Administrator in the prior exercise of its
discretion has imposed, without the consent of a participant, and (subject to
the requirements of Sections 3.2 and 8.6.5) may make other changes to the terms
and conditions of awards. Any amendment or other action that would constitute a
repricing of an award is subject to the limitations set forth in Section
3.2. 

8.6.5      Limitations on
Amendments to Plan and Awards. No amendment, suspension or termination
of this Plan or amendment of any outstanding award agreement shall, without
written consent of the participant, affect in any manner materially adverse to
the participant any rights or benefits of the participant or obligations of the
Corporation under any award granted under this Plan prior to the effective date
of such change. Changes, settlements and other actions contemplated by Section 7
shall not be deemed to constitute changes or amendments for purposes of this
Section 8.6.

	 	8.7 	
      Privileges of Stock Ownership. Except as
      otherwise expressly authorized by the Administrator, a participant shall
      not be entitled to any privilege of stock ownership as to any Common
      Shares not actually delivered to and held of record by the participant.
      Except as expressly required by Section 7.1 or otherwise expressly
      provided by the Administrator, no adjustment will be made for dividends or
      other rights as a shareholder for which a record date is prior to such
      date of delivery.

	 	 	 
	 	8.8 	
      Governing Law; Construction;
      Severability.

8.8.1    
 Choice of Law. This Plan, the awards, all documents evidencing
awards and all other related documents shall be governed by, and construed in
accordance with the laws of the state of California and the federal laws of the
United States of America applicable thereto without recourse to their conflict
of laws rules. 

8.8.2      Severability. If
a court of competent jurisdiction holds any provision invalid and unenforceable,
the remaining provisions of this Plan shall continue in effect.

8.8.3      Plan
Construction.

	 	(a) 	
      Rule 16b-3. It is the intent of the Corporation
      that the awards and transactions permitted by awards be interpreted in a
      manner that, in the case of participantswho are or may be subject to Section 16 of the Exchange
      Act, qualify, to the maximum extent compatible with the express terms of
      the award, for exemption from matching liability under Rule 16b-3
      promulgated under the Exchange Act. Notwithstanding the foregoing, the
      Corporation shall have no liability to any participant for Section 16
      consequences of awards or events under awards if an award or event does
      not so qualify.

16 

	 	(b) 	
      Section 162(m). Awards under Section 5.1.4 to
      persons described in Section 5.2 that are either granted or become vested,
      exercisable or payable based on attainment of one or more performance
      goals related to the Business Criteria, as well as Qualifying Options and
      Qualifying SARs granted to persons described in Section 5.2, that are
      approved by a committee composed solely of two or more outside directors
      (as this requirement is applied under Section 162(m) of the Code) shall be
      deemed to be intended as performance-based compensation within the meaning
      of Section 162(m) of the Code unless such committee provides otherwise at
      the time of grant of the award. It is the further intent of the
      Corporation that (to the extent the Corporation or one of its Subsidiaries
      or awards under this Plan may be or become subject to limitations on
      deductibility under Section 162(m) of the Code) any such awards and any
      other Performance- Based Awards under Section 5.2 that are granted to or
      held by a person subject to Section 162(m) will qualify as
      performance-based compensation or otherwise be exempt from deductibility
      limitations under Section 162(m).

	 	8.9 	
      Captions. Captions and headings are given
      to the sections and subsections of this Plan solely as a convenience to
      facilitate reference. Such headings shall not be deemed in any way
      material or relevant to the construction or interpretation of this Plan or
      any provision thereof.

17 

	 	8.10      	
      Stock-Based Awards in Substitution for Stock
      Options or Awards Granted by Other Corporation. Awards may be
      granted to Eligible Persons in substitution for or in connection with an
      assumption of employee stock options, SARs, restricted stock or other
      stock-based awards granted by other entities to persons who are or who
      will become Eligible Persons in respect of the Corporation or one of its
      Subsidiaries, in connection with a distribution, merger or other
      reorganization by or with the granting entity or an affiliated entity, or
      the acquisition by the Corporation or one of its Subsidiaries, directly or
      indirectly, of all or a substantial part of the stock or assets of the
      employing entity. The awards so granted need not comply with other
      specific terms of this Plan, provided the awards reflect only adjustments
      giving effect to the assumption or substitution consistent with the
      conversion applicable to the Common Shares in the transaction and any
      change in the issuer of the security. Any shares that are delivered and
      any awards that are granted by, or become obligations of, the Corporation,
      as a result of the assumption by the Corporation of, or in substitution
      for, outstanding awards previously granted by an acquired Corporation (or
      previously granted by a predecessor employer (or direct or indirect parent
      thereof) in the case of persons that become employed by the Corporation or
      one of its Subsidiaries in connection with a business or asset acquisition
      or similar transaction) shall not be counted against the Share Limit or
      other limits on the number of shares available for issuance under this
      Plan. 

	 	 	     
	 	8.11 	
      Non-Exclusivity of Plan. Nothing in this
      Plan shall limit or be deemed to limit the authority of the Board or the
      Administrator to grant awards or authorize any other compensation, with or
      without reference to the Common Shares, under any other plan or authority.
      

	 	 	     
	 	8.12      	
      No Corporate Action Restriction. The
      existence of this Plan, the award agreements and the awards granted
      hereunder shall not limit, affect or restrict in any way the right or
      power of the Corporation or any Subsidiary (or any of their respective
      shareholders, boards of directors or committees thereof, as the case may
      be) to make or authorize: (a) any adjustment, recapitalization,
      reorganization or other change in the capital structure or business of the
      Corporation or any Subsidiary, (b) any merger, amalgamation, consolidation
      or change in the ownership of the Corporation or any Subsidiary, (c) any
      issue of bonds, debentures, capital, preferred or prior preference stock
      ahead of or affecting the capital stock (or the rights thereof) of the
      Corporation or any Subsidiary, (d) any dissolution or liquidation of the
      Corporation or any Subsidiary, (e) any sale or transfer of all or any part
      of the assets or business of the Corporation or any Subsidiary, or (f) any
      other corporate act or proceeding by the Corporation or any Subsidiary. No
      participant, beneficiary or any other person shall have any claim under
      any award or award agreement against any member of the Board or the
      Administrator, or the Corporation or any employees, officers or agents of
      the Corporation or any Subsidiary, as a result of any such action.
  

	 	 	     
	 	8.13      	
      Other Company Benefit and Compensation
      Programs. Payments and other benefits received by a participant
      under an award made pursuant to this Plan shall not be deemed a part of a
      participant’s compensation for purposes of the determination of benefits
      under any other employee welfare or benefit plans or arrangements, if any,
      provided by the Corporation or any Subsidiary, except where the
      Administrator expressly otherwise provides or authorizes in writing.
      Awards under this Plan may be made in addition to, in combination with, as
      alternatives to or in payment of grants, awards or commitments under any
      other plans or arrangements of the Corporation or its Subsidiaries.
  

18 

	 	
      8.14 
	
      Clawback Policy. The awards granted under
      this Plan are subject to the terms of the Corporation’s recoupment,
      clawback or similar policy as it may be in effect from time to time, as
      well as any similar provisions of applicable law, any of which could in
      certain circumstances require repayment or forfeiture of awards or any
      Common Shares or other cash or property received with respect to the
      awards (including any value received from a disposition of the shares
      acquired upon payment of the awards). 

19 

SPHERE 3D CORP. 

2015 PERFORMANCE INCENTIVE PLAN 

Canadian Residents Addendum 

Section
1            
Application 

           
This addendum applies to a Participant who is a resident of Canada under the
Income Tax Act (Canada) or an applicable tax treaty to which Canada is a party
(hereinafter referred to as a “Canadian Participant”). 

Section
2            
Stock Options 

           
Stock Options granted to Canadian Participants shall not be settled in cash
unless at the request of the Canadian Participant, which request the Corporation
may in its sole and entire discretion grant or deny. Stock Options granted to
Canadian Participants shall not be settled with Shares other than Shares issued
from treasury. 

Section
3            
Restricted Stock and Incentive Stock Options 

           
Restricted Stock, Incentive Stock Options and awards that are subject to
forfeiture (other than restricted stock units and stock options that are subject
to vesting requirements) shall not be granted to Canadian Participants. 

Section
4            
Stock Appreciation Rights 

           
Stock Appreciation Rights granted to Canadian Participants shall be exercised
and settled immediately upon vesting. 

Section
5            
Restricted Stock Units 

           
Restricted Stock Units, stock bonuses, stock units, phantom stock and similar
rights or awards granted to Canadian Participants shall vest and be payable no
later than December 31 of the third year following the year in which the award
was granted. 

Section
6            
Tendering of Shares 

           
The tendering of shares by a Canadian Participant to satisfy the Canadian
Participant’s federal, provincial or other taxes as required by law to be
withheld with respect to such awards, or to satisfy the exercise price of an
award, shall not be available to Canadian Participants. 

Section
7            
Designation of beneficiary 

           
A designation of beneficiary shall not be available to a Canadian Participant
who is a resident in the Province of Quebec. Upon the death of a Canadian
Participant who was a resident in the Province of Quebec immediately before the
Canadian Participant’s death, any and all distribution of shares and/or cash
payable pursuant to the terms of the Plan and any exercise of an award shall
solely be made by or to the administrator, executor or liquidator of the
Canadian Participant’s estate. A designation of Beneficiary by a Canadian
Participant, residing in a Province other than the Province of Quebec or in a
territory in Canada, pursuant to the Plan shall be subject to the requirements
of the province or territory of domicile of such Canadian Participant. 

20 

Section
8            
Miscellaneous 

           
The following shall be inserted in any award to be completed by a Canadian
Participant who is a resident in the Province of Quebec: “The parties hereto
have agreed that this Subscription Agreement and the Plan be drafted in English.
Les parties aux présentes ont convenu que le présent document et les règles du
régime soient rédigés en anglais.” 

21

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