SEC Contract Filing

Filing Date: 2016-07-08

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>e00409_ex10-3.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>CONFIDENTIAL TREATMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>[***] indicates that text has been omitted
which is the subject of a confidential </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>treatment request. This text has been separately
filed with the SEC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center"><FONT STYLE="font-weight: normal">WEBBANK
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center"><FONT STYLE="font-weight: normal">and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center"><FONT STYLE="font-weight: normal">PROSPER
MARKETPLACE, INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center">STAND BY<BR>
PURCHASE AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Dated as of July 1, 2016</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">This STAND BY PURCHASE AGREEMENT (this
&ldquo;Agreement&rdquo;), dated as of July 1, 2016, is made by and between WEBBANK, a Utah-chartered industrial bank having its
principal location in Salt Lake City, Utah (&ldquo;Bank&rdquo;), and PROSPER MARKETPLACE, INC., a Delaware corporation, having
its principal location in San Francisco, California (&ldquo;PMI&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">WHEREAS, Bank and PMI are parties to
a Marketing Agreement, dated as of the date hereof (the &ldquo;Marketing Agreement&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">WHEREAS, Bank and PROSPER FUNDING LLC,
a Delaware limited liability company and a wholly-owned subsidiary of PMI, having its principal location in San Francisco, California
(&ldquo;PFL&rdquo;) are parties to an Asset Sale Agreement, dated as of the date hereof (the &ldquo;Asset Sale Agreement&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">WHEREAS, Bank may desire to sell to PMI
certain Assets relating to Loans originated by Bank pursuant to the Marketing Agreement, and PMI desires to purchase from Bank
the Assets that are offered, and that are not purchased by PFL under the Asset Sale Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">WHEREAS, Bank and PMI have entered into
a Stand By Loan Purchase Agreement, dated as of January 25, 2013, pursuant to which PMI agreed to purchase certain Loans originated
by Bank (as amended from time to time, the &ldquo;Existing Stand By Loan Purchase Agreement&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">WHEREAS, as of the date hereof, the Parties
desire to amend and restate the terms of the Existing Stand By Loan Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">NOW, THEREFORE, in consideration of the
foregoing and the terms, conditions and mutual covenants and agreements herein contained, and for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:</P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 10pt 0 3pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; font-weight: normal">1.</FONT><FONT STYLE="font-size: 7pt; font-weight: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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