SEC Contract Filing

Filing Date: 2023-08-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.42
<SEQUENCE>5
<FILENAME>ex-1042fultontechnologiesn.htm
<DESCRIPTION>EX-10.42
<TEXT>
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<title>Document</title></head><body><div id="ide9ac2406db849d19aa219c14e96812b_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">MODIFICATION ADDENDUM TO THE BUSINESSMANAGER</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#174;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">AGREEMENT</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">WITH BUSINESSES AND PROFESSIONALS</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Upon signature by both parties, the BusinessManager Agreement with Businesses and Professionals entered into as of the 1st day of March, 2019, by and between Vast Bank N.A. (the &#8220;Financial Institution&#8221;) and Fulton Technologies Inc (the &#8220;Business&#8221;) shall hereby be modified to provide the following&#58;</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Section 2.1.4 </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Assignment and Sale</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%"> shall be modified as follows&#58;&#160;&#160;&#160;&#160;</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">The total outstanding Face Amount of Purchased Accounts by Financial Institution will never exceed $6,000,000.00, unless agreed to by Financial Institution which decision will be in Financial Institution&#8217;s Business Judgment. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">This Modification Addendum shall be effective as of the 9</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:100%;position:relative;top:-3.85pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%"> day of August, 2023.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">All other terms and provisions of the BusinessManager Agreement with Businesses and Professionals shall remain in full force and effect.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Special Stipulations&#58; </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">The bank has the authority to reduce the availability of the line if, at the bank&#8217;s discretion, the line is determined to be under-utilized. The utilization will be reviewed 60 days from the date of this modification, and a reduction in the line availability may be made. The business will be notified of any change changes in writing.</font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Financial Institution</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Business</font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">_______________________________&#160;&#160;&#160;&#160;______________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Name&#58; Lauren Smith&#160;&#160;&#160;&#160;Name&#58; Joseph E Hart&#160;&#160;&#160;&#160;</font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">_</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Senior Vice President</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">_____________&#160;&#160;&#160;&#160;__</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">President</font><font style="color:#000000;font-family:'Times New Roman'