Document:

Guaranty, dated April 1, 2003 - Richard J. Johnson

 EXHIBIT 10.6 
  
 IMPAC MORTGAGE HOLDINGS, INC. 
  

GUARANTY 
  
 This Guaranty, dated as of April 1, 2003, is executed by Impac Mortgage Holdings, Inc., a Maryland corporation (“Guarantor”), in favor of
Richard J. Johnson (“Executive”). 
  
 A. Impac
Funding Corporation, a California corporation (“Obligor”), concurrently herewith has entered into an Employment Agreement with Obligor dated even date herewith (the “Contract”). Guarantor is the parent corporation
of Obligor and will receive direct and indirect benefits from the performance of the Contract. 
  
 B. Executive’s willingness to enter into the Contract is subject to receipt by it of this Guaranty duly executed by Guarantor. 
  
 For good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and intending to be legally
bound, Guarantor hereby agrees with Executive as follows: 
  
 1.
Guaranty. 
  
 (a) Guarantor unconditionally guarantees and
promises to pay to Executive, or order, at Executive’s address set forth in Section 4(a) hereof, on demand after the default by Obligor, in lawful money of the United States, any and all Obligations (as hereinafter defined) consisting of
payments due to Executive. For purposes of this Guaranty the term “Obligations” shall mean and include all payments owed by Obligor to Executive of every kind and description, direct or indirect, absolute or contingent, due or to
become due, now existing or hereafter arising pursuant to the terms of Section 2.3, 2.4, 3.1(a), 3.1(b) or 3.2 of the Contract (as such Obligations may become due subject to the provisions of the Contract, including all notice requirements and cure
provisions), including all interest, late fees, charges, expenses, attorneys’ fees and other professionals’ fees chargeable to Obligor or payable by Obligor thereunder and any costs of collection hereunder, including attorneys’ and
other professionals’ fees. 
  
 (b) This Guaranty is absolute,
unconditional, continuing and irrevocable and constitutes an independent guaranty of payment and not of collectibility (provided that it is subject to Obligor defaulting on any of the Obligations), and is in no way conditioned on or contingent upon
any attempt to enforce in whole or in part any of Obligor’s Obligations to Executive, the existence or continuance of Obligor as a legal entity, the consolidation or merger of Obligor with or into any other entity, the sale, lease or
disposition by Obligor of all or substantially all of its assets to any other entity, or the bankruptcy or insolvency of Obligor, the admission by Obligor of its inability to pay its debts as they mature, or the making by Obligor of a general
assignment for the benefit of, or entering into a composition or arrangement with, creditors. If Obligor or any permitted assignee or successor of Obligor shall fail to pay or perform any Obligations to Executive which are subject to this Guaranty
as and when they are due, Guarantor shall forthwith pay to Executive all such liabilities or obligations in immediately available funds. Each failure by Obligor to pay or perform any such liabilities or obligations shall give rise to a separate
cause of action, and separate suits may be brought hereunder as each cause of action arises. 
  
 (c) Executive, may (subject to the provisions of the Contract) at any time and from time to time, without the consent of or notice to Guarantor, except such notice as may be required by applicable statute which cannot
be waived, without incurring responsibility to Guarantor, and without impairing or releasing the obligations of Guarantor hereunder, (i) change the manner, place and terms of payment or change or extend the time of payment of, renew, or alter any
Obligation hereby guaranteed, or in any manner modify, amend or supplement the terms of the Contract or any documents, instruments or agreements executed in connection therewith, (ii) exercise or refrain from exercising any rights against Obligor or
others (including Guarantor) or otherwise act or refrain from acting, (iii) settle or compromise any Obligations hereby guaranteed and/or any obligations and liabilities (including 

 
any of those hereunder) incurred directly or indirectly in respect thereof or hereof, and may subordinate the payment of all or any part thereof to the
payment of any obligations and liabilities which may be due to Executive or others, (iv) sell, exchange, release, surrender, realize upon or otherwise. deal with in any manner or in any order any property pledged or mortgaged by anyone to secure or
in any manner securing the Obligations hereby guaranteed, (v) take and hold security or additional security for any or all of the obligations or liabilities covered by this Guaranty, and (vi) assign its rights and interests under this Guaranty, in
whole or in part. 
  
 (d) This is a continuing Guaranty for which
Guarantor receives continuing consideration and all obligations to which it applies or may apply under the terms hereof shall be conclusively presumed to have been created in reliance hereon and this Guaranty is therefore irrevocable without the
prior written consent of Executive. 
  
 (e) Guarantor may bring
action to enforce Executive’s obligations under the Contract if (i) any proceeding is brought against Guarantor to seek enforcement of this Guaranty or (ii) Guarantor makes any payment to Executive pursuant to this Guaranty. 
  
 2. Representations and Warranties. Guarantor represents and warrants
to Executive that (a) Guarantor is a corporation duly organized, validly, existing and in good standing under the laws of its jurisdiction of incorporation or formation; (b) the execution, delivery and performance by Guarantor of this Guaranty are
within the power of Guarantor and have been duly authorized by all necessary actions on the part of Guarantor; (c) this Guaranty has been duly executed and delivered by Guarantor and constitutes a legal, valid and binding obligation of Guarantor,
enforceable against it in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights generally. 
  
 3. Waivers. 
  
 (a) Guarantor, to the extent permitted under applicable law, hereby waives
any right to require Executive to (i) proceed against Obligor or any other guarantor of Obligor’s obligations under the Contract, (ii) proceed against or exhaust any security received from Obligor or any other guarantor of Obligor’s
Obligations under the Contract, or (iii) pursue any other right or remedy in the Executive’s power whatsoever. 
  
 (b) Guarantor further waives, to the extent permitted by applicable law, (i) any defense resulting from the absence, impairment or loss of any right of
reimbursement, subrogation, contribution or other right or remedy of Guarantor against Obligor, any other guarantor of the Obligations or any security; (ii) any defense which results from any disability of Obligor or the lack of validity or
enforceability of the Contract; (iii) any right to exoneration of sureties which would otherwise be applicable; (iv) any right of subrogation or reimbursement and, if there are any other guarantors of the Obligations, any right of contribution, and
right to enforce any remedy which Executive now has or may hereafter have against Obligor, and any benefit of, and any right to participate in, any security now or hereafter received by Executive; (v) all presentments, demands for performance,
notices of non-performance, notices delivered under the Contract, protests, notice of dishonor, and notices of acceptance of this Guaranty and of the existence, creation or incurring of new or additional Obligations and notices of any public or
private foreclosure sale; (vi) any appraisement, valuation, stay, extension, moratorium redemption or similar law or similar rights for marshalling; and (vii) any right to be informed by Executive of the financial condition of Obligor or any other
guarantor of the Obligations or any change therein or any other circumstances bearing upon the risk of nonpayment or nonperformance of the Obligations. Guarantor has the ability to and assumes the responsibility for keeping informed of the financial
condition of Obligor and any other guarantors of the Obligations and of other circumstances affecting such nonpayment and nonperformance risks. 
  
 4. Miscellaneous. 
  
 (a) Notices. All notices hereunder must be in writing and shall be sufficiently given for all purposes hereunder if properly addressed and
delivered personally by documented overnight delivery service, by certified or registered mail, return receipt requested, or by facsimile or other electronic transmission service at the address or facsimile number, as the case may be, set forth
below. Any notice given personally or by documented overnight delivery service is effective upon receipt. Any notice given by registered mail is effective upon receipt, to the extent such receipt is confirmed by return receipt. Any notice given by
facsimile transmission is effective upon receipt, to the extent that receipt is confirmed, either verbally or in writing by the recipient. Any notice which is 
  

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 refused, unclaimed or undeliverable because of an act or omission of the party to be notified, if such notice was
correctly addressed to the party to be notified, shall be deemed communicated as of the first date that said notice was refused, unclaimed or deemed undeliverable by the postal authorities, or overnight delivery service. 
  

	Executive:	 	Guarantor:
	 Richard J. Johnson
 4 South View
 Coto de Caza, California 92679
	 	 Impac Mortgage Holdings, Inc.
 1401 Dove
Street
 Newport Beach, California 92660
 Telephone: (949)
475-3600
 Facsimile: (949) 475-3969
 Attention: Ronald Morrison,
Esq., General Counsel

		
	 With a copy to:
	 	With a copy to:
		
	 Ernest W. Klatte, III, Esq.
 Rutan & Tucker, L.L.P.
 611 Anton Blvd., 14th Floor
 Costa Mesa, California 92626
 Telephone: (714) 641-5100
 Facsimile: (714) 546-9035
	 	 Greg T. Williams, Esq.
 Allen Matkins Leck
Gamble & Mallory LLP
 1900 Main Street, Fifth Floor
 Irvine,
California 92614
 Telephone: (949) 553-1313
 Facsimile: (949)
553-8354

  
 (b) Nonwaiver.
No failure or delay on Executive’s part in exercising any right hereunder shall operate as a waiver thereof or of any other right nor shall any single or partial exercise of any such right preclude any other further exercise thereof or of any
other right. 
  
 (c) Amendments and Waivers. This Guaranty
may not be amended, modified, superseded, canceled, or any terms waived, except by written instrument signed by both parties, or in the case of waiver, by the party to be charged. 
  
 (d) Assignments. This Guaranty shall be binding upon and inure to the benefit of Executive and Guarantor and their
respective successors and assigns; provided, however, that without the prior written consent of Executive, Guarantor may not assign its rights and obligations hereunder. 
  
 (e) Cumulative Rights, etc. The rights, powers and remedies of Executive under this Guaranty shall be in addition to
all rights, powers and remedies given to Executive by virtue of any applicable law, rule or regulation, the Contract or any other agreement, all of which rights, powers, and remedies shall be cumulative and may be exercised successively or
concurrently without impairing Executive’s rights hereunder. 
  
 (f) Partial Invalidity. The provisions of this Guaranty are severable and if any one or more provisions is determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions, and any partially
unenforceable provisions to the extent enforceable, shall nevertheless be binding and enforceable. 
  
 (g) Governing Law. This Guaranty is and shall be governed and construed in accordance with the laws of the State of California, regardless of any
laws on choice of law or conflicts of law of any jurisdiction. 
  
 (h) Arbitration. To the fullest extent allowed by law, any controversy, claim or dispute between Executive and Guarantor (or any of its stockholders, directors, officers, employees, affiliates, agents, successors or assigns) relating
to or arising out of this Guaranty will be submitted to final and binding arbitration in Orange County, California for determination in accordance with the American Arbitration Association’s (“AAA”) National Rules for the
Resolution of Employment Disputes, as the exclusive remedy for such controversy, claim or dispute. In any such arbitration, the parties may conduct discovery to the same extent as would be permitted in a court of law. The arbitrator shall issue a
written decision, and shall have full authority to award all remedies which would be available in court. The arbitrator shall be required to determine all issues in accordance with existing case 
  

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law and the statutory laws of the State of California. Guarantor shall pay the arbitrator’s fees and any AAA administrative expenses. In the event
Executive files a claim to collect unpaid payments or benefits payable under Section 2.4 of the Contract, the prevailing party shall be awarded reasonable attorneys fees and costs. Any judgment upon the award rendered by the arbitrator(s) maybe
entered in any court having jurisdiction thereof. BY AGREEING TO THIS MUTUAL AND BINDING ARBITRATION PROVISION, BOTH EXECUTIVE AND GUARANTOR GIVE UP ALL RIGHTS TO TRIAL BY JURY. This arbitration policy is to be construed as broadly as is permissible
under relevant law. EXECUTIVE AND GUARANTOR HAVE READ THIS SECTION 4(h) AND IRREVOCABLY A E TO ARBITRATE ANY DISPUTE IDENTIFIED ABOVE. 
  

	/s/ RJJ Executive’s Initials	 	/s/ RM Guarantor’s Initials

  
 (i) Entire
Agreement. This Guaranty contains the entire agreement of the parties relating to the subject matter hereof, and the parties hereto have made no agreements, representations or warranties relating to the subject matter of this Guaranty that are
not set forth otherwise herein. This Guaranty supersedes any and all prior agreements, written or oral, with Guarantor relating to guaranteeing obligations under the Contract and any other subject matter of this Guaranty. Any such prior agreements
are hereby terminated and of no further effect. The parties hereto agree that in no event shall an oral modification of this Agreement be enforceable or valid. 
  

(j) Counterparts; Facsimile Signatures. This Guaranty may be executed in any number of counterparts, each of which shall be deemed an original
for all purposes. This Guaranty may be executed by a party’s signature transmitted by facsimile (“fax”), and copies of this Guaranty executed and delivered by means of faxed signatures shall have the same force and effect as
copies hereof executed and delivered with original signatures. All parties hereto may rely upon faxed signatures as if such signatures were originals. Any party executing and delivering this Guaranty by fax shall promptly thereafter deliver a
counterpart signature page of this Guaranty containing said party’s original signature. All parties hereto agree that a faxed signature page may be introduced into evidence in any proceeding arising out of or related to this Guaranty as if it
were an original signature page. 
  
 (k) Rules of
Construction. This Guaranty has been negotiated by the parties and is to be interpreted according to its fair meaning as if the parties had prepared it together and not strictly for or against any party. References in this Guaranty to
“Sections” refer to Sections of this Guaranty, unless the context expressly indicates otherwise. References to “provisions” of this Guaranty refer to the terms, conditions, restrictions and promises contained in this Guaranty.
References in this Guaranty to laws and regulations refer to such laws and regulations as in effect on this date and to the corresponding provisions, if any, of any successor law or regulation. At each place in this Guaranty where the context so
requires, the masculine, feminine or neuter gender includes the others and the singular or plural number includes the other. Forms of the verb “including” mean “including without limitation” unless the context expressly indicates
otherwise. “Or” is inclusive and includes “and” unless the context expressly indicates otherwise. The introductory headings at the beginning of Sections of this Guaranty are solely for the convenience of the parties and do not
affect any provision of this Guaranty. 
  
 (l) No Employment
With Guarantor. Executive understands and agrees that he is an employee of Obligor pursuant to the Contract. Executive further understands and agrees that neither this Guaranty nor any obligations performed hereunder shall change any employee
status that Executive may have with Guarantor. 
  
 [Signature page
on next page.] 
  

 4 

 IN WITNESS WHEREOF, Executive and Guarantor have executed this Guaranty as of the day and year first
above written. 
  

	GUARANTOR
	
	 Impac Mortgage Holdings, Inc.

		
	 By:
	 	 /s/    Ronald Morrison        

	 	 	 Name: Ronald Morrison
 Title: General Counsel

	
	EXECUTIVE
	
	 /s/    Richard J.
Johnson        

	 Richard J. Johnson

  

 5 

 IMPAC MORTGAGE HOLDINGS, INC. GUARANTY 
 AGREEMENT REGARDING POTENTIAL CONTINUATION OF EMPLOYMENT AGREEMENT 
  
 IMPAC FUNDING CORPORATION, a California corporation (“Employer”), and Richard J. Johnson, an individual
(“Employee”), have entered into an Employment Agreement, the effective date of which is April 1, 2003 (the “New Employment Agreement”). The continued effectiveness of the New Employment Agreement is subject to a majority of the
shareholders of Impac Mortgage Holdings, Inc., a Maryland corporation (“IMH”) approving the incentive compensation that may be paid pursuant to the New Employment Agreement. Employer and Employee previously entered into a prior Employment
Agreement dated as of November 20, 1995, which agreement was amended and extended on a number of occasions prior to the date hereof (the “Prior Employment Agreement”). If the aforementioned shareholder approval for the incentive
compensation that may be paid pursuant to the New Employment Agreement is not obtained on the earlier of (i) the date of the next annual meeting of the shareholders of the IMH and (ii) August 31, 2003, then (a) the New Employment Agreement shall
terminate as of the earlier of such dates and be of no further force or effect and (b) the Prior Employment Agreement shall become effective again and remain in effect through December 31, 2003. 
  

	 Dated as of April 1, 2003
	 	 	 	 IMPAC FUNDING CORPORATION,

a California corporation

					
	 	 	 	 	 	 	By:	 	 /s/    RONALD
MORRISON        

	 	 	 	 	 	 	 	 	 Print Name: Ronald Morrison
 Title: General Counsel

				
	 	 	 	 	 	 	 /s/    RICHARD J.
JOHNSON        

	 	 	 	 	 	 	 RICHARD J. JOHNSONStock Purchase Agreement, dated July 1, 2003

 EXHIBIT 10.7 
  
 COMMON STOCK PURCHASE AGREEMENT 
  
 THIS COMMON STOCK PURCHASE AGREEMENT (the “Agreement”) is made as of the 1st day of July, 2003 by and between IMPAC Mortgage
Holding, Inc., a Maryland corporation (the “Purchaser”), Joseph R. Tomkinson, Johnson Revocable Living Trust and William S. Ashmore (collectively referred to as “Sellers”). 
  
 WHEREAS, the Sellers jointly own all of the outstanding common stock in IMPAC Funding
Corporation, a California Corporation ( the “Company” ): 
  
 WHEREAS,
the Purchaser owns all of the outstanding Preferred stock in the Company: 
  
 WHEREAS, the Sellers desire to sell, and the Purchaser desires to acquire, all of the outstanding common stock of the Company on the terms and conditions hereinafter set forth. 
  
 NOW, THEREFORE, IT IS AGREED between the parties as follows: 
  
 1. Purchase and Sale of Shares. 
  
 (a) On the terms and subject to the conditions contained herein, the Purchaser hereby agrees to purchase from the Sellers, and the Sellers hereby agree to sell to the
Purchaser, for an aggregate purchase price of Seven Hundred and Fifty Thousand Dollars ($750,000) (the “Purchase Amount”), 2, 10,000 shares (the “Shares”) of common stock of the Company, constituting all of the outstanding common
stock of the Company. The closing of the purchase of the Common Stock Shares hereunder (the “Closing”), shall occur at the offices of the Company no later than July 10, 2003 and shall be concurrent with the execution of this Agreement and
upon the satisfaction or waiver of the conditions contained in Section 4 herein. 
  
 2. Sellers Representations and Warranties. The Company represents and warrants to the Purchaser the following: 
  
 (a) As of July 1, 2003 the outstanding capital stock of the Company consisted of 10,000 shares of Common Stock. All of the outstanding shares of Common Stock have been
duly authorized and validly issued and are fully paid and nonassessable grants of stock. 
  
 (b) The issuance, sale and delivery of the Shares in accordance with this Agreement have been duly approved, consented to and authorized by all Sellers. The Shares, when issued, sold and delivered against payment
therefore in accordance with this Agreement, will be, free and clear of all liens, liabilities, claims, demands and other encumbrances. 
  
 (c) The execution of, and consummation of the transactions contemplated by, this Agreement and compliance with its provisions by the Sellers will not violate, conflict
with or result in any breach of any of the terms, conditions or provisions of any contract or other agreement to which each Seller is a party. 
  
 (d) All outstanding shares of Company are owned as follows: 
  

	 Joseph R. Tomkinson:
	  	3,333 shares	  	 
			
	 Johnson Revocable Living Trust:
	  	3,333 shares	  	 
			
	 William S. Ashmore:
	  	3,334 shares	  	 

  

 3. Purchaser Representations and Warranties. The Purchaser hereby represents and warrants to the Company the
following: 
  
 (a) The Purchaser is a corporation duly organized, validly existing
and in good standing under the laws of the State of Maryland and has full corporate power and authority to conduct its business as presently conducted and as proposed to be conducted by it and to enter into and perform its obligations set forth in
this Agreement and to carry out the transactions contemplated hereby. The Purchaser has not been organized, reorganized or recapitalized specifically for the purpose of investing in the Company. 
  
 (b) The execution, delivery and performance of this Agreement have been duly authorized by
all necessary corporate action by the Purchaser. This Agreement has been duly executed and delivered by the Purchaser and constitutes a valid and binding obligation of the Purchaser enforceable against it in accordance with its terms, subject to (i)
the effect of any bankruptcy or similar laws affecting creditors’ rights generally and (ii) general principles of equity, regardless of whether a matter is considered in a proceeding in equity or at law. The execution of, and consummation of
the transactions contemplated by, this Agreement and compliance with its provisions by the Purchaser will not violate, conflict with or result in any breach of any of the terms, conditions or provisions of, or constitute a default under, or require
a consent or waiver under, (i) its Articles of Incorporation or Bylaws (each as amended to the date hereof), (ii) any material indenture, lease, agreement or other instrument to which the Purchaser is a party or by which it or any of its material
properties is bound, or (iii) any decree, judgment, order, statute, rule or regulation applicable to the Purchaser, which in the case of clause (ii) or (iii) would have a material adverse effect on (x) the business, condition (financial or
otherwise), results of operations, assets, liabilities or properties of the Purchaser and its subsidiaries taken as a whole or (y) on the timely consummation of the transactions contemplated hereby (a “Purchaser Material Adverse Effect”).
No consent, approval, authorization or order of, or filing, registration, qualification, license or permit of or with, (i) any Governmental Authority or (ii) any other person is required for the execution, delivery and performance by the Purchaser
of this Agreement, except where the failure to obtain or make any such consent, approval, authorization or order of, or filing, registration, qualification, license or permit would not reasonably be expected to result in a Purchaser Material Adverse
Effect. 
  
 (c) Purchaser understands that the Shares have not been registered
under the Securities Act. Purchaser also understands that the Shares are being offered and sold pursuant to an exemption from registration contained in the Securities Act based in part upon Purchaser’s representations contained in this
Agreement. Purchaser hereby represents and warrants as follows: 
  

	 	(1)	 	Purchaser has substantial experience in evaluating and investing in private placement transactions of securities in companies similar to the Company so that it is capable of
evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests. Purchaser must bear the economic risk of this investment indefinitely unless the Shares are registered pursuant to the Securities
Act, or an exemption from registration is available. Purchaser understands that the Company has no present intention of registering the Shares. Purchaser also understands that there is no assurance that any exemption from registration under the
Securities Act will be available and that, even if available, such exemption may not allow Purchaser to transfer all or any portion of the Shares under the circumstances, in the amounts or at the times Purchaser might propose.

  

	 	(2)	 	Purchaser is acquiring the Shares for Purchaser’s own account for investment only, and not with a view towards their distribution. 

  

	 	(3)	 	Purchaser represents that by reason of its, or of its management’s business or financial experience, Purchaser has the capacity to protect its own interests in connection with
the transactions contemplated in this Agreement. Further, Purchaser is aware of no publication or any advertisements in connection with the transaction contemplated in this Agreement. 

  

	 	(4)	 	Purchaser acknowledges and agrees that the Shares must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration
is available. Purchaser has been advised or is aware of the provisions of Rule 144 promulgated under the Securities Act as in effect from time to time, which permits limited resale of shares purchased in a private placement subject to the
satisfaction of certain conditions, including, among other things; the availability of certain current public information about the Company, the resale occurring following the required holding period under Rule 144 and the number of shares being
sold during any three month period not exceeding specified limitations. 

  

	 	(5)	 	Purchaser acknowledges and agrees that Purchaser is an “accredited investor” as such term is defined in Rule 501 of Regulation D under the Securities Act.

  
 4. Conditions to Closing. 
  
 (a) The obligation of each party to this Agreement to consummate the purchase and sale of the
Shares at the Closing shall be subject to the satisfaction at or prior to the Closing of the following conditions: 
  
 (i) Delivery of the original Share Certificate or an Affidavit of Lost Share Certificate as follows: 
  
 Certificate Number 6, 833 shares and Certificate Number 3, 2500 shares Joseph R. Tomkinson 
  
 Certificate Number 7, 833 shares and Certificate Number 4, 2501 shares
William S. Ashmore 
  
 Certificate Number 9, 3,333 shares Johnson
Revocable Living Trust 
  
 Endorsed to the benefit of the Purchaser. 

 
 (ii) Payment of Seven Hundred Fifty Thousand Dollars to the Sellers, divided equally or at
the sole option of any individual Seller, a number of shares of stock of the Purchaser equivalent to that Sellers interest, at the closing price of Purchaser’s share of stock as traded on the New York Stock Exchange, on July 1, 2003. If Sellers
elect not to take shares of stock of the Purchaser, the Seven Hundred Fifty Thousand Dollars shall be paid within ten days of the closing. Each Seller shall provide written notice to the Purchaser of their intent to receive the cash or the stock (or
a portion thereof) in the Purchaser . 
  
 5. Miscellaneous. 
  
 (a) Notices. All notices and other communications required or permitted under either
of the Transaction Documents shall be in writing and shall be (i) mailed by registered or certified mail, postage prepaid, return receipt requested, (ii) sent by facsimile or telecopier, with written receipt of confirmation, (iii) sent by email,
confirmed by facsimile or telecopier, with written receipt of confirmation or (iv) otherwise delivered by hand or by messenger or a nationally recognized overnight courier, addressed or telecopied as follows: 
  
 If to the Purchaser: 
  
 IMPAC Mortgage Holding, Inc. 
 1401 Dove Street 
 Newport Beach, CA 92660 
 Attn: Ronald Morrison, Esq. 
 If to the Sellers: 
  

 Joseph R. Tomkinson 
 William S. Ashmore 
 Richard J. Johnson 
 1401 Dove Street 
 Newport Beach, CA 92660 
  
 A copy of any notice or communication sent by email must also be sent within two (2) business days thereafter by registered or certified mail, postage prepaid, return
receipt requested, or delivered personally to the person to whom such notice or communication is being given at its address set forth above. If notice is provided by mail, notice shall be deemed to have been given five (5) business days after proper
deposit with the United States mail. If notice is provided by a nationally recognized overnight courier, notice shall be deemed to have been given two (2) business days after deposit with such courier. If notice is provided personally, such notice
shall be deemed to have been given immediately upon personal delivery thereof to the party at the address provided above. If notice is provided by telecopier, notice shall be deemed to have been given upon confirmation by the telecopier machine of
the receipt of such notice at the telecopier number provided above. If notice is provided by email, notice shall be deemed to have been given upon confirmation by the sender’s email program of the receipt of such notice at the email address
provided above. A party hereto may change the addresses to which its notices are to be directed by written notice complying with the terms of this Section 8(a). 
  

(b) Governing Law and Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of California. The parties hereby agree
that any action brought by either party to interpret or enforce any provision of this Agreement shall be brought in, and each party agrees to, and does hereby, irrevocably submit to the exclusive jurisdiction and venue of, the appropriate state or
federal court located in the Orange County, California. 
  
 (c) Further
Actions. Subject to the terms and conditions contained in this Agreement, the parties hereto agree to cooperate and take all such further actions and execute any additional instruments as may reasonably be necessary to carry out, consummate and
give effect to the transactions contemplated by this Agreement. 
  
 (d) Fees
and Expenses. Each party hereto shall bear its own out-of-pocket costs and expenses incident to the preparation, negotiation and execution of this Agreement and the other Transaction Documents. 
  
 (e) Entire Agreement. This Agreement and the other Transaction Documents (including
the Exhibits hereto) constitute the entire agreement between the parties with respect to the subject matter hereof or thereof and supersede and merge all prior agreements or understandings, whether written or oral. This Agreement may not be amended,
modified or revoked, in whole or in part, except by an agreement in writing signed by each of the parties hereto. 
  
 (f) Specific Performance. Each of the parties acknowledges and agrees that the other party hereto would be damaged irreparably in the event any of the provisions
of this Agreement are not performed in accordance with their specific terms or otherwise are breached. Accordingly, each of the parties hereto agrees that the other party hereto shall be entitled to an injunction to prevent breaches of the
provisions of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof in any court in accordance with Section 5(b) hereof, in addition to any other remedy to which they may be entitled at law or in equity.

  
 (g) Waivers. No waiver of any breach or default hereunder shall be
considered valid unless in writing, and no such waiver shall be deemed a waiver of any subsequent breach or default of the same or similar nature. 
  
 (h) Severability. If any provision of this Agreement shall be determined by a court of competent jurisdiction to be invalid or unenforceable, such invalidity or
unenforceability shall attach only to such provision and shall not in any manner affect or 
  

 render invalid or unenforceable any other severable provision of this Agreement, and this Agreement shall be carried out
as if any such invalid or unenforceable provision were not contained herein. 
  
 (i) Parties In Interest. The Transaction Documents shall be binding upon and inure solely to the benefit of the parties hereto and their respective permitted successors and assigns, and nothing in this Agreement, express or implied,
is intended to or shall confer upon any other person or entity any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 
  
 (j) Counterparts. This Agreement may be executed by facsimile and in any number of counterparts, each of which shall be deemed an original for all purposes, but
all of which shall constitute but one and the same instrument. 
  
 (k)
Headings. The Section headings contained herein are for the purposes of convenience of reference only and are not intended to define or limit the contents of said Sections. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 
  

	 Purchaser:
 IMPAC MORTGAGE HOLDING, INC.

		
	 By:
	 	 /s/    RONALD
MORRISON        

	 	 	 Ronald Morrison,
 Secretary and Executive Vice President

  

	 Sellers:

	
	 /s/    JOSEPH R. TOMKINSON
        

	Joseph R. Tomkinson

  

	
	 /s/    WILLIAM S.
ASHMORE        

	William S. Ashmore

  

	
	 /s/    RICHARD J.
JOHNSON        

	 Richard J. Johnson,
 Trustee of the Johnson Revocable Living Trust

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00053-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00053-of-00352.parquet"}]]