Modification Addendum to BusinessManager Agreement between Vast Bank N.A. and Fulton Technologies
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Summary
Vast Bank N.A. and Fulton Technologies have agreed to modify their existing BusinessManager Agreement, originally signed on March 1, 2019. The addendum changes the service charge to 2% of the face amount of a purchased account and clarifies the maturity date of the Business Manager Line as December 17, 2023. All other terms of the original agreement remain unchanged. The modification is effective as of December 17, 2022, and is signed by authorized representatives of both parties.
EX-10.37 5 ex-1037fultontechnologiesn.htm EX-10.37 Document
MODIFICATION ADDENDUM TO THE BUSINESSMANAGER® AGREEMENT
WITH BUSINESSES AND PROFESSIONALS
By mutual agreement of the 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 “Financial Institution”) and Fulton Technologies (the “Business”) shall hereby be modified as follows:
The first sentence of Section 1.21 Service Charge shall be replaced with the following:
“Service Charge” means a discount to the Face Amount of a Purchased Account equal to Two percent (2.00%).
“Maturity Date” means the date the Business Manager Line matures with the Financial Institution, which is currently 12/17/2023.
This Modification Addendum shall be effective as of the 17th day of December 2022.
All other terms and provisions of the BusinessManager Agreement with Businesses and Professionals shall remain in full force and effect.
Financial Institution Business
/s/ Lauren Smith /s/ Joseph E. Hart
__________________________________ ____________________________________
Name: Lauren Smith Name: Joseph E Hart
Senior Vice President_________________ President_____________________________
Title Title
December 20, 2022 December 20, 2022
__________________________________ ____________________________________
Date Date
