Exhibit 10.1

 

EMERGENT CAPITAL, INC.

5355 Town Center Road

Suite 701

Boca Raton, Florida 33486

 

July 10, 2018

 

SB Holdings, Inc.

Sherman, Clay & Co.

1111 Bayhill Drive, Suite 450

San Bruno, CA 94066

 

Re:                             Project Mozart

 

Ladies and Gentlemen:

 

We refer to the Stock Purchase (the “Agreement”), dated as of January 22, 2018,
by and among Emergent Capital, Inc. (“Emergent”), SB Holdings, Inc. (“Holdings”)
and Sherman, Clay & Co. (“Company”).  Capitalized terms used and not defined
herein shall have their respective meanings set forth in the Agreement.

 

As discussed, this will confirm that Emergent, Holdings and the Company have
agreed that (a) the Agreement is hereby terminated by mutual written consent
pursuant to Section 7.01 thereof, (b) pursuant to Section 7.04 of the Agreement,
the Agreement has become void and has no further effect, and the transactions
contemplated thereby are deemed to be abandoned without further action by any
party, (c) no party to the Agreement, their respective Subsidiaries or their
respective officers, directors, Affiliates, shareholders, agents and employees
shall have any further liability or obligation resulting from, arising out of,
or incurred in connection with, the Agreement and (d) no Person shall have any
rights, remedies or claims against Emergent, Holdings, the Company, their
respective Subsidiaries and their respective officers, directors, Affiliates,
shareholders, agents and employees resulting from, arising out of, or in
connection with the Agreement, in contract, in tort or otherwise, including
without limitation rights, remedies or claims resulting from, arising out of, or
incurred in connection with Article VIII of the Agreement or the termination of
the Agreement.

 

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This letter agreement may be executed in any number of counterparts, all of
which will be one and the same agreement. Transmission of a signed counterpart
of this letter agreement by facsimile or other electronic means shall be the
equivalent of delivery of a manually executed original.

 

 

Very truly yours,

 

 

 

EMERGENT CAPITAL, INC.

 

 

 

 

 

 

By

/s/ Patrick J. Curry

 

 

Patrick J. Curry

 

 

Chief Executive Officer

 

 

SB HOLDINGS, INC.

 

 

 

 

 

 

By

/s/ Fred W. Concklin

 

 

Name:

Fred W. Concklin

 

 

Title:

President

 

 

 

 

 

SHERMAN, CLAY & CO.

 

 

 

 

 

 

By

/s/ Eric Schwartz

 

 

Name:

Eric Schwartz

 

 

Title:

Exec. VP

 

 

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