Mediation Agreement between Antony Mitchell and Emergent Capital, Inc. dated September 15, 2017

Summary

This agreement is between Antony Mitchell and Emergent Capital, Inc. Mitchell agrees to resign as CEO and board member, and to waive any severance claims, once mutually acceptable agreements are finalized. Both parties will sign a full separation and release agreement by September 22, 2017. Emergent Capital will pay $150,000 in legal fees as directed by Mitchell. The company's board meeting scheduled for September 19, 2017 is postponed until after September 22, 2017, unless the agreements are reached sooner.

EX-10.1 2 a17-22337_1ex10d1.htm EX-10.1

Exhibit 10.1

 

This MEDIATION AGREEMENT is entered into this 15th day of September, 2017 (the “Effective Date”), by and between Antony Mitchell (“Mitchell”) and Emergent Capital, Inc. (the “Company”) (together, the “Parties”).

 

1.                                      Mitchell shall resign as Chief Executive Officer of the Company and as a member of the Board of Directors of the Company and shall waive, release and remise any entitlement he has or may have to any form of severance under his employment agreement upon the receipt of mutually acceptable agreements.

 

2.                                      No later than September 22, 2017, the Parties will execute a full separation agreement and release of claims (“Release”) in a form negotiated by their respective counsel.

 

3.                                      The Company will pay $150,000 in legal fees per and upon Mitchell’s direction.

 

4.                                      The meeting of the Board of Directors of the Company currently scheduled for September 19, 2017 is hereby postponed until after September 22, 2017 and will not be rescheduled in the event that mutually acceptable agreements are reached under Section 1.

 

ANTONY MITCHELL

 

EMERGENT CAPITAL, INC.

 

 

 

 

/s/ Antony Mitchell

 

By:

/s/ Patrick J. Curry

 

 

 

 

 

 

 

Its

Interim CEO

 

 

 

 

 

Date:

9/15/17

 

Date:

9/15/17