Document:

Exhibit

Exhibit 10.1

2225 W. Chandler Boulevard | Chandler, AZ 85226 | 480.917.6000

August 28, 2018
Michael M. Ludwig
3421 Blackhawk Meadow Drive
Danville, CA 94506
Dear Michael:
It is a pleasure to confirm Rogers’ offer of employment to you for the position of Senior Vice President, Chief Financial Officer and Treasurer (subject to the conditions described below).  Rogers does not enter into employment contracts, and your employment will be “at will.”  Below is a general description of the terms we expect to apply to your employment:
		
	1.
	Your employment is expected to commence on or before September 17, 2018.

		
	2.
	The compensation package for this position is as follows and is subject to the usual payroll deductions such as income tax and Social Security:

		
	•
	Your starting salary will be $420,000.00 per year, which is paid at a bi-weekly rate of $16,153.84.  This is an exempt position, which means that your salary is intended to compensate you for all hours worked, and you will not be eligible to receive overtime pay.

		
	•
	You will be eligible for four weeks of vacation effective from your first day of employment.

		
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	Effective for the 2018 fiscal year, you are eligible for an award under the Annual Incentive Compensation Plan (AICP) with a target of 65% of your base salary. Depending on actual performance against predetermined company performance metrics, your actual AICP award payout can be as high as 200% of your target incentive.  Actual awards are prorated according to date of hire.  Awards are subject to the terms of the AICP and approval by the Compensation and Organization Committee (the “Committee”).

		
	•
	Subject to the Committee’s approval, you will receive a special new hire stock award of restricted stock units with an initial grant value of $815,000.00 split as follows:

		
	◦
	60% Performance-Based Restricted Stock Units -- three-year performance period beginning September 17, 2018 and based on total shareholder return compared to a specified group of peer companies

		
	◦
	40% in Time-Based Restricted Stock Units -- three-year ratable vesting beginning on the first anniversary of your date of hire

The total number of stock units will be determined by dividing the initial grant value specified above by the average closing stock price for the 30 days prior to your date of hire.  The terms of these awards are subject to the applicable award agreements and plan document.
		
	3.
	You will be eligible for the retirement, health, severance, and other benefit programs provided to executives of Rogers, subject to the right of Rogers to amend or terminate such programs in accordance with their terms.  We have enclosed information describing the Company’s current benefit programs.

		
	•
	Please note that you will be a participant in the Rogers Corporation Severance Pay Plan for Exempt Salaried, Non-Exempt and Non-Union Hourly Employees, provided that, in lieu of the benefit under that plan, your severance pay will be equal to 52 weeks of base salary (to be paid at the time and in the form of benefit specified under the terms of the plan) plus a pro-rated payment of your AICP award, determined based on actual performance and paid at the time AICP awards are otherwise paid to employees (but no later than March 15 of the year after your termination of employment), subject to your execution of a general release of claims in a form acceptable to the Company and subject 

Exhibit 10.1

2225 W. Chandler Boulevard | Chandler, AZ 85226 | 480.917.6000

to the other terms and conditions of the plan, including the company’s right to amend or terminate the plan.  For the avoidance of doubt, the Company reserves the right to modify these benefits to conform to any severance plan covering executives. 

		
	4.
	As a condition of employment, you must sign the enclosed agreement regarding confidentiality of trade secrets and confidential business information (Employment, Invention, Confidentiality and Non-Compete Agreement). Please review this agreement.  You will need to sign it and deliver it to our Human Resources Director for Corporate Services, Sara Dionne, at the time you start work with Rogers.

		
	5.
	As mentioned above, your employment is “at will,” meaning that either you or Rogers may terminate your employment at any time and for any reason, with or without cause or notice, regardless of any representations that may have been made to you.  This offer letter does not establish a contractual employment relationship.  It is Rogers' policy not to enter into employment contracts.

		
	6.
	You will be provided with relocation benefits as described in the Relocation Policy for Newly Hired Salaried Employees which will be sent to you separately. Please contact our Human Resources Director for Corporate Services, Sara Dionne at 860.779.4055, to begin the relocation process.  If you voluntarily resign from Rogers within one year of your hire, you will be required to reimburse all monies paid under the Relocation Policy directly to you, or on your behalf.  This letter authorizes Rogers to deduct any required reimbursement from your final paycheck or other post-employment compensation (to the extent permitted by law).  You must arrange for repayment in full to Rogers of any remaining amount, with such repayment to be made within 30 days of your last day of work.

Our offer is contingent upon you passing our pre-employment drug screening. The information for the drug screen will be send under separate cover. Our offer also is contingent upon a satisfactory reference check and satisfactory results of a background check.
For purposes of federal immigration law, you will be required to provide to Rogers documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided within three (3) business days of your date of hire.
I look forward to having you join Rogers and working together.
Sincerely,

/s/  Bruce Hoechner

Bruce Hoechner
President and Chief Executive OfficerEX-10.1

 Exhibit 10.1 

Execution Version 
 AMENDMENT NO. 2
TO 
 THE AMENDED AND RESTATED CREDIT AGREEMENT 

This Amendment No. 2 to the Amended and Restated Credit Agreement, is dated as of October 30, 2018 (this “Amendment”), is
among Regional Management Receivables, LLC, a Delaware limited liability company, as borrower (the “Borrower”), Regional Management Corp., a Delaware corporation, as servicer (the “Servicer”), Wells Fargo Bank, National
Association (“Wells Fargo Bank”), as the sole lender, and Wells Fargo Securities, LLC, as administrative agent for the Lenders (the “Administrative Agent”), and relates to the Amended and Restated Credit Agreement, dated as of
November 21, 2017, among the Borrower, the Servicer, the Lender, the Administrative Agent and Wells Fargo Bank, as account bank (in such capacity, the “Account Bank”), collateral custodian (in such capacity, the “Collateral
Custodian”) and backup servicer (in such capacity, the “Backup Servicer”), as amended by Amendment No. 1 dated as of February 20, 2018 (collectively, the “Original Credit Agreement” and, as amended by this
Amendment, the “Credit Agreement”),. 
 Capitalized terms used herein that are not otherwise defined shall have the meanings
ascribed thereto in the Original Credit Agreement. 
 RECITALS 

WHEREAS, pursuant to Section 15.01 of the Original Credit Agreement, no amendment, waiver or other modification of any provision of the
Original Credit Agreement shall be effective without the written agreement of the Borrower and the Administrative Agent and the consent of the Required Lenders; provided, however, that no such amendment, waiver or other modification shall, without
the written consent of all Lenders, amend certain definitions and provisions in the Original Credit Agreement; 
 WHEREAS, Wells Fargo Bank,
as the sole Lender, constitutes all Lenders and consents to this Amendment; and 
 WHEREAS, the parties hereto desire to amend the Original
Credit Agreement on the terms and in the manner set forth herein. 
 NOW, THEREFORE, in reliance upon the foregoing facts and in
consideration of the mutual agreements of the parties hereto, the parties hereby agree as follows: 
 Section 1.01. Amendment.
Effective as of the date hereof, and subject to the satisfaction of the conditions precedent set forth in Section 1.03 hereof, the Original Credit Agreement is hereby amended as follows: 

(a)    Clause (ii) in the definition of “Level I Effective Date Receivables Trigger Event” appearing
in Section 1.01 of the Original Credit Agreement is hereby deleted and replaced with the following: 
 (ii) with respect
to (A) the September 2018 Collection Period, the application of the Extension Ratio is hereby waived, (B) the October 2018 Collection Period, the one-month Extension Ratio exceeds 7.25%, (C) the
November 2018 Collection Period, the 

 
two-month average Extension Ratio for such Collection Period and the preceding Collection Period exceeds 6.25%, and (D) all Collection Periods
occurring after the November 2018 Collection Period, the three-month average Extension Ratio for such Collection Period and the two preceding Collection Periods exceeds 5.00%; or 

(b)    Clause (ii) in the definition of “Level I Initial Receivables Trigger Event” appearing in
Section 1.01 of the Original Credit Agreement is hereby deleted and replaced with the following means. 
 (ii) with
respect to (A) the October 2018 Collection Period, the one-month Extension Ratio exceeds 7.25%, (B) the November 2018 Collection Period, the two-month average
Extension Ratio for such Collection Period and the preceding Collection Period exceeds 6.25%, and (C) all Collection Periods occurring after the November 2018 Collection Period, the three-month average Extension Ratio for such Collection Period
and the two preceding Collection Periods exceeds 5.00%; or 
 (c)    Clause (ii) in the definition of
“Level II Effective Date Receivables Trigger Event” appearing in Section 1.01 of the Original Credit Agreement is hereby deleted and replaced with the following: 

(ii) with respect to (A) the September 2018 Collection Period, the application of the Extension Ratio is hereby waived,
(B) the October 2018 Collection Period, the one-month Extension Ratio exceeds 7.75%, (C) the November 2018 Collection Period, the two-month average Extension Ratio
for such Collection Period and the preceding Collection Period exceeds 6.75%, and (D) all Collection Periods occurring after the November 2018 Collection Period, the three-month average Extension Ratio for such Collection Period and the two
preceding Collection Periods exceeds 6.00%; or 
 (d)    The definition of “Level II Initial Receivables Trigger
Event” appearing in Section 1.01 of the Original Credit Agreement is hereby deleted and replaced with the following: 

(ii) with respect to (A) the October 2018 Collection Period, the one-month
Extension Ratio exceeds 7.75%, (B) the November 2018 Collection Period, the two-month average Extension Ratio for such Collection Period and the preceding Collection Period exceeds 6.75%, and (C) all
Collection Periods occurring after the November 2018 Collection Period, the three-month average Extension Ratio for such Collection Period and the two preceding Collection Periods exceeds 6.00%; or 

Section 1.02. Representation and Warranties. 

(a)    Each of the Borrower and the Servicer, by executing this Amendment, hereby represents and warrants to the other
parties hereto as of the date hereof that (i) each of its representations and warranties set forth in the Original Credit Agreement is true and correct in all material respects as if made on the date hereof (except to the extent any such
representation and warranty expressly refers to an earlier date) and (ii) no Termination Event, Unmatured Termination Event or Servicer Termination Event has occurred and is continuing. 

 (b)    Each of the Borrower and the Servicer, by executing this
Amendment, hereby represents and warrants to the other parties hereto as of the date hereof that (i) the individual executing this Amendment on behalf of such party is duly authorized to do so, (ii) such party has full right and authority
to enter into this Amendment and to consummate the transactions described in this Amendment and (iii) each of this Amendment, the Original Credit Agreement and the Credit Agreement constitutes the valid and legally binding obligation of such
party, enforceable against such party in accordance with its terms. 
 (c)    Each of the Borrower and the Servicer
hereby represents and certifies that this Amendment does not amend, modify or otherwise affect the rights or duties of the Account Bank, the Collateral Custodian or the Backup Servicer. 

(d)    Each of the Borrower and the Servicer, by executing this Amendment, hereby represents and warrants to the other
parties hereto as of the date hereof that this Amendment does not amend, modify or otherwise affect the rights or duties of the Account Bank, the Backup Servicer or the Collateral Custodian under the Original Credit Agreement. 

Section 1.03. Conditions to Effectiveness. This Amendment shall become effective as of the date hereof, immediately upon
(a) receipt by each of the parties hereto of an executed counterpart of this Amendment and (b) receipt of such other documents, certificates and opinions as the Lender or the Administrative Agent may reasonably request. 

Section 1.04. Full Force and Effect. Except as hereby modified pursuant to this Amendment, the Original Credit Agreement shall
continue in full force and effect. Each of the parties hereto, acknowledge and agree that the Amendments set forth in Section 1.01 hereof, shall have no retroactive effect on the terms set forth in the Original Credit Agreement. 

Section 1.05. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICTS OF LAW PROVISIONS (OTHER THAN § 5-1401 AND § 5-1402 OF
THE NEW YORK GENERAL OBLIGATIONS LAW). EACH OF THE PARTIES HERETO HEREBY AGREES TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK, LOCATED IN THE BOROUGH OF MANHATTAN AND THE FEDERAL COURTS LOCATED WITHIN THE STATE OF NEW YORK
IN THE BOROUGH OF MANHATTAN. EACH OF THE PARTIES HERETO HEREBY WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS, AND ANY OBJECTION TO VENUE OF ANY ACTION INSTITUTED HEREUNDER IN ANY OF THE AFOREMENTIONED COURTS AND CONSENTS TO THE GRANTING OF SUCH
LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. 
 Section 1.06. WAIVER OF JURY TRIAL. TO THE
EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE BETWEEN THE PARTIES HERETO ARISING OUT OF, CONNECTED WITH, RELATED
TO, OR INCIDENTAL  

 
TO THE RELATIONSHIP BETWEEN ANY OF THEM IN CONNECTION WITH THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. INSTEAD, ANY SUCH DISPUTE RESOLVED IN COURT WILL BE RESOLVED IN A BENCH TRIAL
WITHOUT A JURY. 
 Section 1.07. Execution in Counterparts. This Amendment may be executed in any number of counterparts and
by different parties hereto on separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same Amendment. By
execution of this Amendment, the Lender acknowledges and consents to this Amendment pursuant to Section 15.01 of the Original Credit Agreement. 

Section 1.08. Delivery to the Account Bank, Collateral Custodian and Backup Servicer. The Borrower shall promptly provide an
executed copy of this Amendment to the Account Bank, the Collateral Custodian and the Backup Servicer. 
 [Signature Page Follows]

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by
their respective officers thereunto duly authorized, as of the date first above written. 
  

							
	THE BORROWER:	 		 	REGIONAL MANAGEMENT RECEIVABLES, LLC
				
		 		 	By:	 	 /s/ Donald E. Thomas

		 		 	Name:	 	Donald E. Thomas

		 		 	Title:	 	EVP and Chief Financial Officer
			
	THE SERVICER:	 		 	REGIONAL MANAGEMENT CORP.
				
		 		 	By:	 	 /s/ Donald E. Thomas

		 		 	Name:	 	Donald E. Thomas
		 		 	Title:	 	EVP and Chief Financial Officer
			
	THE ADMINISTRATIVE AGENT:	 		 	WELLS FARGO SECURITIES, LLC
				
		 		 	By:	 	 /s/ Brian Grushkin

		 		 	Name:	 	Brian Grushkin
		 		 	Title:	 	Director
			
	LENDER:	 		 	WELLS FARGO BANK, NATIONAL ASSOCIATION
				
		 		 	By:	 	 /s/ Brian Grushkin

		 		 	Name:	 	Brian Grushkin
		 		 	Title:	 	Director

  
 Amendment No. 2
to 
 A&R Credit Agreement

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