SEC Contract Filing

Filing Date: 2015-12-17

Document Content:
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<TYPE>EX-10.3
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<DESCRIPTION>EXHIBIT 10.3
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 144pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit 10.3</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">December 17, 2015</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">BEP IV LLC and BEP Investors LLC</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">c/o Brookside Equity Partners</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">201 Tresser Boulevard</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Suite 320</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Stamford, CT&#160; 06901</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Attn:&#160; Donald L. Hawks III</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Dear Mr. Hawks:</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Reference is made to (i) that certain Securities Purchase Agreement (the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Purchase Agreement</u></font>&#8221;), dated as of September 23, 2015, by and among Meta Financial Group, Inc., a Delaware corporation (the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Company</u></font>&#8221;), BEP IV LLC, a Delaware limited liability company, and BEP Investors LLC, a Delaware limited liability company (collectively, the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Buyers</u></font>&#8221;), and (ii) that certain letter agreement, dated as of September 28, 2012, by and between the Company and BEP Meta LLC, a Delaware limited liability company and an affiliate of the Buyers (the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>2012 Buyer</u></font>&#8221;), setting forth, among other things, certain rights granted by the Company to the 2012 Buyer in connection with its purchase of securities of the Company on the date thereof (the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Original Investor Rights Agreement</u></font>&#8221;).&#160; Capitalized terms used herein without definition shall have the respective meanings ascribed to them in the Purchase Agreement.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pursuant to the Purchase Agreement, on the date hereof the Buyers are acquiring from the Company the Shares, which, together with the 270,350 shares of Common Stock (the &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Existing Shares</u></font>&#8221;) held by the 2012 Buyer on the date hereof (representing all of the shares of Common Stock beneficially owned (determined in accordance with Section 13(d) of the 1934 Act) by the Buyers and their Affiliates on the date hereof), represent approximately 4.9% of the total issued and outstanding shares of Common Stock of the Company (after giving effect to the issuance of the Shares under the Purchase Agreement).&#160; As an inducement to the Buyers to enter into the Purchase Agreement and to acquire the Shares upon the terms and conditions set forth therein, the Company has agreed to enter into this letter agreement (this &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Agreement</u></font>&#8221;), which is referred to in the Purchase Agreement as the Investor Rights Agreement, at the closing of the transactions contemplated by the Purchase Agreement.&#160; For purposes of this Agreement, &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Shares</u></font>&#8221; shall mean the aggregate shares of Common Stock issuable by the Company to the Buyers on the Closing Date pursuant to the Purchase Agreement, as adjusted for any stock split, combination, subdivision, reverse stock split or similar adjustment occurring after the date hereof.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">BEP IV LLC</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">BEP Investors LLC</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">December 17, 2015</div>

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