Resignation Letter Agreement, dated as of December 31, 2020, between Robin N. Lowe and Altisource Asset Management Corporation
EX-10.1 2 ex101-loweresignationletter.htm EX-10.1 Document
December 31, 2020
Altisource Asset Management Corporation
5100 Tamarind Reef
Christiansted, United States Virgin Islands 00820
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
|/s/ Indroneel Chatterjee|
Name: Indroneel Chatterjee
Title: Chief Executive Officer
[Signature Page to Resignation Letter]