Resignation and Mutual Release Agreement between Robin N. Lowe and Altisource Asset Management Corporation (December 31, 2020)

Summary

Robin N. Lowe resigns from all positions at Altisource Asset Management Corporation and its subsidiaries, effective December 31, 2020. Both parties agree to release each other from any claims related to actions before this date, except for Mr. Lowe’s rights to equity-based awards. The company will treat the resignation as a termination without cause and confirms that Mr. Lowe retains his rights to indemnification and expense advancement as previously provided. Both sides agree not to pursue any released claims against each other.

EX-10.1 2 ex101-loweresignationletter.htm EX-10.1 Document
Exhibit 10.1


December 31, 2020
Altisource Asset Management Corporation
5100 Tamarind Reef
Christiansted, United States Virgin Islands 00820


Re: Resignation
Ladies and Gentlemen:
Effective as of the close of business on December 31, 2020, I hereby irrevocably resign from any and all positions as a director, officer, manager or equivalent position of Altisource Asset Management Corporation (the "Company") and its subsidiaries. The Company acknowledges and agrees that my resignation shall be treated as a termination of my service by the Company without Cause (as defined in any relevant document; or any similar concept if not so defined) for all purposes under any agreement, arrangement, plan, or policy of the Company or by and between the Company and myself.

The Company hereby waives, releases and discharges me from any and all claims, demands, proceedings, causes of action, orders, obligations and liabilities, known or unknown, which the Company or any of its affiliates has or may at any time have had against me for acts occurring prior to the date hereof. The Company shall undertake not to, directly or indirectly, assert any claim or demand, or commence, institute or cause to be commenced, any proceedings of any kind relating to any such released claims.

I hereby waive, release and discharge the Company and its subsidiaries from any and all claims, demands, proceedings, causes of action, orders, obligations and liabilities, known or unknown, which I have or may at any time have had against the Company and its subsidiaries for acts occurring prior to the date hereof; provided, that, such release shall not apply to claims that I have with respect to any equity or equity-based awards of the Company. I shall undertake not to, directly or indirectly, assert any claim or demand, or commence, institute or cause to be commenced, any proceedings of any kind relating to any such released claims.

Notwithstanding anything to the contrary set forth herein and for the avoidance of doubt, this letter does not adversely impact the rights of advancement of expenses and indemnification that I am entitled to as a director, manager, or officer or similar position of the Company (whether pursuant to the Company’s organizational documents, directors & officers insurance or otherwise, in each case, as in effect on the date hereof).

[Signature page follows]






/s/ Robin N. Lowe
Robin N. Lowe



Acknowledged and agreed:

ALTISOURCE ASSET MANAGEMENT CORPORATION
By:
/s/ Indroneel Chatterjee
Name: Indroneel Chatterjee
Title: Chief Executive Officer




[Signature Page to Resignation Letter]