Document:

Exhibit 10.4

 

EXECUTION VERSION

 

SHAREHOLDER AGREEMENT

 

This SHAREHOLDER AGREEMENT
(as the same may be amended, restated, supplemented or modified in accordance with the terms hereof, this “Agreement”),
dated as of January 18, 2018, is made and entered into by and between Hunt Companies Equity Holdings, LLC, a Delaware limited liability
company (“Hunt”), and Five Oaks Investment Corp., a Maryland corporation (the “Company”).

 

RECITALS

 

WHEREAS, pursuant to the
Share Purchase Agreement, Hunt acquired 1,539,406 shares of common stock, par value $0.01 per share, of the Company (“Common
Stock”);

 

WHEREAS, in connection with
the foregoing, Hunt has requested, among other things, that the Company appoint the Hunt Designee as a Director and nominate or
re-nominate such Hunt Designee or other Person as a Director in accordance with the provisions of this Agreement; and

 

WHEREAS, simultaneously and
in connection with the execution and delivery of this Agreement, the Company and Hunt desire to enter into the Registration Rights
Agreement (as defined below) and the Share Purchase Agreement (as defined below).

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the parties hereto agree as follows:

 

Article 1

DEFINITIONS

 

1.1         Definitions.

 

(a)          As
used in this Agreement, and unless the context requires a different meaning, the following terms have the meanings indicated:

 

“Affiliate” means, with respect
to any Person, a Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under
common control with, such Person. The term “control” (including the terms “controlled by” and “under
common control with”), when used with respect to any specified Person, means the possession, directly or indirectly, of the
power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities,
by contract or otherwise .

 

“Agreement”
has the meaning set forth in the Preamble to this Agreement.

 

“Applicable Law”
means, with respect to any Person, any transnational, domestic or foreign federal, state or local law (statutory, common or otherwise),
constitution, treaty, convention, ordinance, code, rule, regulation, order, injunction, judgment, decree, ruling or other similar
requirement enacted, adopted, promulgated or applied by a Governmental Authority that is binding upon or applicable to such Person,
as amended unless expressly specified otherwise.

 

     

     

    

  

“Beneficially Own”
means, with respect to any securities, having “beneficial ownership” of such securities as determined pursuant to Rule
13d-3 under the Exchange Act.

 

“Board”
or “Board of Directors” means the board of directors of the Company.

 

“Board Designation
Expiration Date” means the date on which the Hunt Percentage Interest is less than five percent (5%).

 

“Business Day”
means any day other than a Saturday, Sunday or other day on which commercial banks in the State of Maryland are authorized or required
by law or executive order to close.

 

“Common Stock”
has the meaning set forth in the Recitals to this Agreement.

 

“Company”
has the meaning set forth in the Preamble to this Agreement.

 

“Designation Notice”
has the meaning set forth in Section 2.1(c)(ii).

 

“Director”
means a director of the Company.

 

“Election Meeting”
means any annual or special meeting of the shareholders of the Company at which Directors are to be elected, or any written consent
of the shareholders of the Company pursuant to which Directors are to be elected.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, including the rules and regulations promulgated thereunder.

 

“Governmental Authority”
means any supranational, national, state, municipal or local government, political subdivision or other governmental department,
court, commission, board, bureau, agency, instrumentality, or other authority thereof, or any quasi-governmental or private body
exercising any regulatory, taxing, importing or other governmental or quasi-governmental authority, whether domestic or foreign.

 

“Hunt”
has the meaning set forth in the Preamble to this Agreement.

 

“Hunt Designee”
means the individual named by Hunt pursuant to Section 2.1(a) or any other individual designated for nomination by Hunt
and elected or appointed pursuant to the provisions of Section 2.1.

 

“Hunt Percentage
Interest” means, as of any date of determination, the percentage represented by the quotient of (i) the number of shares
of Common Stock that are Beneficially Owned by Hunt, Hunt Companies, Inc. and any of Hunt’s Affiliates and (ii) the number
of all issued and outstanding shares of Common Stock.

 

    	 	2	 

     

    

  

“Management Agreement”
means that certain Management Agreement, dated as of the date hereof, by and between the Company and the Manager.

 

“Manager” means Hunt Investment
Management, LLC, a Delaware limited liability company.

 

“NYSE”
means the New York Stock Exchange.

 

“Person”
means any individual, firm, corporation, partnership, trust, incorporated or unincorporated association, joint venture, joint stock
company, limited liability company, Governmental Authority or other entity of any kind, and shall include any successor (by merger
or otherwise) of such entity or any “group” (as defined under Rule 13-d of the Exchange Act).

 

“Registration Rights Agreement”
means that certain Registration Rights Agreement, dated as of the date hereof, by and between the Company and Hunt.

 

“Replacement”
has the meaning set forth in Section 2.1(c)(iii).

 

“Share Purchase
Agreement” means that certain Securities Purchase Agreement, dated as of the date hereof, by and between the Company
and Hunt.

 

1.2         Other
Definitional and Interpretative Provisions. The words “hereof”, “herein” and “hereunder”
and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of
this Agreement. The captions herein are included for convenience of reference only and shall be ignored in the construction or
interpretation hereof. Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.
Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall
be deemed to be followed by the words “without limitation”, whether or not they are in fact followed by those words
or words of like import. References to any statute shall be deemed to refer to such statute as amended from time to time and to
any rules or regulations promulgated thereunder. References to any Person include the successors and permitted assigns of that
Person. References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.
References to “law”, “laws” or to a particular statute or law shall be deemed also to include all Applicable
Law. References herein to Articles and Sections shall be construed to refer to Articles and Sections of this Agreement.

 

Article 2

CERTAIN COVENANTS

 

2.1         Board
of Directors.

 

(a)          Effective
as of the date hereof, the Company shall cause the appointment of one (1) Hunt Designee as a Director to serve for a term expiring
at the 2018 annual general meeting of the Company’s shareholders or until his or her successor is duly elected and qualified.
Upon his or her appointment to the Board of Directors, the Company shall cause the appointment of such Hunt Designee to serve as
Chairman of the Company.

 

    	 	3	 

     

    

  

(b)          From
and after the date hereof until the Board Designation Expiration Date, Hunt shall have the right to designate one (1) Hunt
Designee to be nominated by the Company for election to the Board of Directors; provided such right shall be deemed to be
satisfied so long as the Hunt Designee appointed to the Board pursuant to Section 2.1(a) above is serving on the Board of
Directors and is being nominated by the Board of Directors for re-election at the next annual general meeting of the Company’s
shareholders in accordance with this Section 2.1.

 

(c)          Until
the Board Designation Expiration Date:

 

(i)          the
Company and the Board of Directors shall include the Hunt Designee in management’s slate of nominees for the election of
Directors at each applicable Election Meeting occurring from and after the date hereof. The Company agrees to use its reasonable
best efforts to cause the election of the Hunt Designee to the Board of Directors at each Election Meeting including, (A) recommending
that the shareholders of the Company vote in favor of the election of such Hunt Designee at such meeting, (B) soliciting proxies
for the election of such Hunt Designee and (C) otherwise supporting such Hunt Designee for election in a manner no less rigorous
and favorable than the manner in which the Company supports its other nominees;

 

(ii)         the
Hunt Designee (or any Replacement thereof) must be an individual who is reasonably acceptable to the Company to serve in such capacity;
provided that, for the avoidance of doubt, any investment professional or senior executive employed by Hunt or any of its
Affiliates shall be deemed to be reasonably acceptable to the Company; and provided, further, that if the Company
does not object in writing to a written notice (a “Designation Notice”) naming the Hunt Designee within ten
(10) days of receipt thereof, then such Hunt Designee shall be deemed to be reasonably acceptable to the Company. If, within ten
(10) days of the Company’s receipt of a Designation Notice, the Company determines that a Hunt Designee named therein is
not reasonably acceptable to the Company, then the Company shall promptly provide Hunt with written notice of the reasons for such
determination. Thereafter, the Company and Hunt shall cooperate in good faith so that Hunt may designate a Replacement. The Company
shall take all actions necessary or appropriate (including delaying any Election Meeting) to ensure that the Hunt Designee is presented
for nomination or appointment at each applicable Election Meeting;

 

(iii)        if
the Hunt Designee (A) dies, is incapacitated or is otherwise unable or no longer wishes to serve as a nominee for appointment or
election as a Director or to serve as a Director, for any reason, (B) is removed (upon death, resignation or otherwise) or fails
to be elected at an Election Meeting as a result of such Hunt Designee failing to receive a plurality of the votes cast, or (C)
is to be substituted by Hunt (with such Hunt Designee’s consent and resignation) for election at an Election Meeting, then,
in each such case, Hunt shall have the right to submit the name of a replacement for such Hunt Designee (each, a “Replacement”)
to the Company for its consideration, which Replacement shall serve as a nominee for appointment or serve as a Director in accordance
with the terms of this Section 2.1. In the case of any Replacement, Hunt shall give a Designation Notice to the Board and
the Company of such Replacement as promptly as practicable following the event giving rise to such replacement and the Company
shall cause the appointment of such Replacement to the Board as promptly as practicable following its receipt of a Designation
Notice;

 

    	 	4	 

     

    

  

(iv)        the
Hunt Designee shall be entitled to attend and shall receive advance notice (in the same manner and at the same time as the applicable
committee members) of any meetings of any standing or special committee of the Board of Directors (including, without limitation,
any audit, nominating, corporate governance, compensation or executive committees) in a non-voting observer capacity but excluding
any meetings of any committee, or portion of any such meeting, whereby the members of such committee intends to discuss (A) conflicts
arising between the Company and the Manager under the Management Agreement or (B) related party transactions between the Company
and Hunt or any Affiliate thereof;

 

(v)         the
Hunt Designee shall be entitled to reimbursement for reasonable, out-of-pocket and documented expenses incurred in attending meetings
of the Board of Directors and, subject to Section 2.1(c)(iv), its committees;

 

(vi)        the
Company shall provide the Hunt Designee with the same rights to indemnification and advancement of expenses and the same director
and officer insurance that it provides to the other members of the Board of Directors; and

 

(vii)       the
Company shall not, without the prior written approval of Hunt, increase the size of the Board of Directors in excess of nine (9)
or decrease the size of the Board of Directors if such decrease would require the resignation of the Hunt Designee; provided,
however, that this provision shall not restrict the Company’s shareholders from taking any action that shareholders
may take under Maryland General Corporation Law.

 

Article 3

MISCELLANEOUS

 

3.1         Notices.
All notices, demands or other communications provided for or permitted hereunder shall be made in writing and shall be by registered
or certified first class mail, return receipt requested, telecopier, courier service or personal delivery:

 

		(a)	if to the Company:

 

540 Madison Avenue, 19th Floor

New York, NY 10022

	Attention:	David Oston
	Fax:	(212) 257-5099
	Email:	doston@oakcirclecapital.com

 

With a copy to:

 

Dentons US LLP

1221 Avenue of the Americas

 

    	 	5	 

     

    

  

New York, NY 10020-1089

	Attention:	Paul D. Tvetenstrand, Esq.
	Fax:	(212) 768-6800
	Email:	paul.tvetenstrand@dentons.com

 

		(b)	if to Hunt:

 

Hunt Companies Equity Holdings, LLC

230 Park Avenue

19th Floor

New York, NY 10169

	Phone:	(212) 317-5731
	Attention:	Mustafa Haque, Assistant General Counsel
	Email:	Mustafa.Haque@huntcompanies.com

 

With a copy to:

 

Paul, Weiss, Rifkind, Wharton &
Garrison LLP

1285 Avenue of the Americas

New York, NY 10019-6064

	Attention:	Ross A. Fieldston, Esq.
	Fax:	(212) 492-0075
	Email:	rfieldston@paulweiss.com

 

or such other address or facsimile number as
such party hereto may hereafter specify for such purpose by notice to the other party hereto. All such notices, requests and other
communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5 p.m. on a Business
Day, in the place of receipt. Otherwise, any such notice, request or communication shall be deemed not to have been received until
the next succeeding Business Day in the place of receipt.

 

3.2          Successors
and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns; provided that no party hereto may assign, delegate or transfer any of its
rights or obligations hereunder without the consent of the other party hereto; except that Hunt may transfer or assign its rights
and obligations under this Agreement, in whole or from time to time in part, to one or more of its Affiliates; provided
that no such transfer or assignment shall relieve Hunt of its obligations hereunder or enlarge, alter or change any obligation
of any other party hereto or due to Hunt.

 

3.3         Termination
Agreement. The Company agrees that, without the prior written consent of Hunt, it shall not agree to or permit any amendments,
modifications or waivers to that certain Termination Agreement, dated as of the date hereof, by and between the Company and Oak
Circle Capital Partners LLC.

 

    	 	6	 

     

    

  

3.4         Amendment
and Waiver.

 

(a)          Any
amendment, supplement or modification of or to any provision of this Agreement, any waiver of any provision of this Agreement,
and any consent to any departure by any party from the terms of any provision of this Agreement, shall be effective only if it
is made or given in writing and signed by (i) the Company and (ii) Hunt.

 

(b)          No
failure or delay on the part of any party hereto in exercising any right, power or remedy hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right,
power or remedy. The rights and remedies provided for herein are cumulative and are not exclusive of any rights and remedies that
may be available to the parties hereto at law, in equity or otherwise.

 

3.5         Counterparts;
Effectiveness. This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if
the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when each party hereto
shall have received a counterpart hereof signed by the other party hereto.

 

3.6         Specific
Performance. The parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed
in accordance with the terms hereof and that the parties shall be entitled to an injunction or injunctions to enforce specifically
the performance of the terms and provisions hereof in any federal court located in the State of Maryland or any Maryland state
court, in addition to any other remedy to which they are entitled at law or in equity.

 

3.7         Headings.
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

3.8         Governing
Law; Consent to Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
MARYLAND WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF. The parties hereto irrevocably and unconditionally submit
to the exclusive jurisdiction of any state or federal court sitting in the State of Maryland over any suit, action or proceeding
seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions
contemplated hereby. To the fullest extent they may effectively do so under Applicable Law, the parties hereto irrevocably waive
and agree not to assert, by way of motion, as a defense or otherwise, any claim that they are not subject to the jurisdiction
of any such court, any objection that they may now or hereafter have to the laying of the venue of any such suit, action or proceeding
brought in any such court, and any claim that any such suit, action or proceeding brought in any such court has been brought in
an inconvenient forum. Process in any such suit, action or proceeding may be served on either party hereto anywhere in the world,
whether within or without the jurisdiction of any such court.

 

    	 	7	 

     

    

  

3.9         WAIVER
OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

3.10        Severability.
If any term, provision, covenant or restriction of this Agreement is determined by a court of competent jurisdiction or other
authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement
shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner adverse to any party hereto. Upon such a determination,
the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as
closely as possible in an acceptable manner so that the transactions contemplated hereby may be consummated as originally contemplated
to the fullest extent possible.

 

3.11         Entire
Agreement; No Third Party Beneficiaries.

 

(a)          This
Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings, both oral and written, between the parties with respect to such subject matter.

 

(b)          This
Agreement shall be binding upon, and inure solely to the benefit of, each party hereto and their respective successors and permitted
assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit
or remedy of any nature whatsoever under or by reason of this Agreement.

 

3.12         Further
Assurances. Each of the parties shall, and shall cause their respective Affiliates to, execute such documents and perform
such further acts as may be reasonably required or desirable to carry out or to perform the provisions of this Agreement.

 

[Remainder of page intentionally left blank]

 

    	 	8	 

     

    

  

IN WITNESS WHEREOF, the undersigned
have executed, or have caused to be executed, this Agreement on the date first written above.

 

	 	FIVE OAKS INVESTMENT CORP.
	 	 
	 	By:	/s/ David Carroll
	 	 	Name: David Carroll
	 	 	Title: Chief Executive Officer

 

[Signature Page to Shareholder Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the undersigned
have executed, or have caused to be executed, this Agreement on the date first written above.

 

	 	HUNT COMPANIES EQUITY HOLDINGS, LLC
	 	 
	 	By: its sole member, HCH Holdings, LLC
	 	 	 
	 	By:	/s/ James P. Flynn
	 	 	Name: James P. Flynn
	 	 	Title: President CIO

 

[Signature Page to
Shareholder Agreement]Exhibit 10.5

 

EXECUTION VERSION

 

 

 

TERMINATION AGREEMENT

 

by and among

 

OAK CIRCLE CAPITAL PARTNERS LLC

 

and

 

FIVE OAKS INVESTMENT CORP.

 

Dated as of January 18, 2018

 

 

 

NO AGREEMENT, ORAL OR WRITTEN, REGARDING
OR RELATING TO ANY OF THE MATTERS COVERED BY THIS DRAFT AGREEMENT HAS BEEN ENTERED INTO BETWEEN THE PARTIES. THIS DOCUMENT, IN
ITS PRESENT FORM OR AS IT MAY BE HEREAFTER REVISED BY ANY PARTY, WILL NOT BECOME A BINDING AGREEMENT OF THE PARTIES UNLESS AND
UNTIL IT HAS BEEN SIGNED BY ALL PARTIES.

 

     

     

    

  

TABLE OF CONTENTS 

 

	 	 	Page
	 	 	 
	Article I Definitions	1
	 	 	 
	Section 1.1	Definitions	1
	 	 	 
	Section 1.2	Interpretive Provisions	4
	 	 	 
	Article II TERMINATION AND RELEASE	5
	 	 	 
	Section 2.1	Termination of Management Agreement; Waiver of Termination Fee	5
	 	 	 
	Section 2.2	OCCP Release	6
	 	 	 
	Section 2.3	Covenant Not to Sue	6
	 	 	 
	Article III TrANSITION ASSISTANCE	6
	 	 	 
	Section 3.1	Books and Records	6
	 	 	 
	Section 3.2	Transition Under the Management Agreement	7
	 	 	 
	Section 3.3	Further Assurances	7
	 	 	 
	Section 3.4	Confidentiality	7
	 	 	 
	Section 3.5	Insurance	8
	 	 	 
	Section 3.6	Public Announcements	8
	 	 	 
	Article IV Representations and warranties of OCCP	9
	 	 	 
	Section 4.1	Organization and Qualification of OCCP	9
	 	 	 
	Section 4.2	Authority of OCCP and Enforceability	9
	 	 	 
	Section 4.3	Non-Contravention	9
	 	 	 
	Section 4.4	Legal Proceedings; Governmental Orders	10
	 	 	 
	Section 4.5	Compliance With Laws	10
	 	 	 
	Section 4.6	Brokers	10
	 	 	 
	Article V Representations and warranties of FIVE OAKS	10
	 	 	 
	Section 5.1	Organization and Qualification of Five Oaks	10
	 	 	 
	Section 5.2	Authority of Five Oaks and Enforceability	10
	 	 	 
	Section 5.3	Brokers	10
	 	 	 
	Article VI Miscellaneous	11
	 	 	 
	Section 6.1	Expenses	11
	 	 	 
	Section 6.2	Notices	11
	 	 	 
	Section 6.3	Headings	11
	 	 	 
	Section 6.4	Severability	11
	 	 	 
	Section 6.5	Entire Agreement	12

 

    i 

     

    

 

	 	 	Page
	 	 	 
	Section 6.6	Schedules and Exhibits	12
	 	 	 
	Section 6.7	Successors and Assigns	12
	 	 	 
	Section 6.8	No Third-Party Beneficiaries	12
	 	 	 
	Section 6.9	Amendment and Modification; Waiver	12
	 	 	 
	Section 6.10	Mutual Drafting	12
	 	 	 
	Section 6.11	Governing Law	13
	 	 	 
	Section 6.12	Consent to Jurisdiction and Service of Process	13
	 	 	 
	Section 6.13	WAIVER OF JURY TRIAL	13
	 	 	 
	Section 6.14	Specific Performance	13
	 	 	 
	Section 6.15	Counterparts	14
	 	 	 
	Section 6.16	Non-recourse	14

 

    ii 

     

    

  

TERMINATION AGREEMENT

 

This TERMINATION AGREEMENT,
dated as of January 18, 2018 (this “Agreement”), is made and entered into by and between Oak Circle Capital
Partners LLC, a Delaware limited liability company (“OCCP”), and Five Oaks Investment Corp, a Maryland Corporation
(“Five Oaks”).

 

RECITALS

 

WHEREAS, OCCP and Five
Oaks are party to that certain Management Agreement, dated as of May 16, 2012, by and between Five Oaks and OCCP (the “Management
Agreement”), pursuant to which OCCP provides external management and other advisory services to Five Oaks (the “Business”);

 

WHEREAS, OCCP and Five
Oaks desire to terminate the Management Agreement (the “Termination”);

 

WHEREAS, OCCP and Five
Oaks have agreed that the Termination will not trigger payment of any Termination Fee (as such term is defined in the Management
Agreement) and OCCP desires to hereby irrevocably waive any right to receive a Termination Fee; and

 

WHEREAS, immediately following
the Termination, Five Oaks has agreed to enter into a new Management Agreement, dated as of the date hereof, by and between Hunt
Investment Management, LLC, a Delaware limited liability company (“Hunt”), and Five Oaks (the “New
Management Agreement”), which Management Agreement will govern the terms upon which Hunt will provide external management
and other advisory services to Five Oaks from and after the Termination; and

 

WHEREAS, OCCP has agreed
to enter into a Transition Agreement with Hunt which provides, among other things, that OCCP will provide certain transition assistance
to Hunt in connection with Hunt becoming the new external manager of Five Oaks (the “Transition Agreement”).

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual representations, warranties, covenants and agreements contained in this Agreement and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement, intending
to be legally bound, agree as follows:

 

Article
I

Definitions

 

Section 1.1           Definitions.
The following capitalized terms shall have the following meanings for all purposes of this Agreement:

 

“Action”
means any action, cause of action, claim, demand, arbitration, hearing, charge, complaint, examination, indictment, litigation,
suit, inquiry, audit, notice of violation, proceeding, citation, summons, subpoena or investigation of any nature, civil, criminal,
administrative, regulatory or otherwise, whether at law or in equity.

 

    	 	1	 

     

    

 

“Affiliate”
means, with respect to any specified Person, any other Person that directly or indirectly controls, is controlled by, or is under
common control with, such specified Person. For the purposes of this definition, the term “control,” when used
with respect to any specified Person, means the power to direct or cause the direction of the management or policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling”
and “controlled” have correlative meanings.

 

“Agreement”
has the meaning set forth in the preamble.

 

“Announcement”
has the meaning set forth in Section 3.6.

 

“Books and Records”
means originals, or where not available, copies, of all books and records relating in any way to Business, the Management Agreement
(including OCCP’s performance of services thereunder) or Five Oaks, including books of account, ledgers and general, financial
and accounting records, tax returns (or portions thereof), machinery and equipment maintenance files, customer and distributor
lists, customer and distributor purchasing histories, price lists, distribution lists, supplier lists, production data, sourcing
data, quality control records and procedures, customer complaints and inquiry files, research and development files, records and
data (including all correspondence with any Governmental Authority), sales material and records (including pricing history, total
sales, terms and conditions of sale, sales and pricing policies and practices), strategic plans, internal financial statements,
marketing and promotional surveys, material and research and files.

 

“Business”
has the meaning set forth in the recitals.

 

“Business Day”
means any day that is not a Saturday, Sunday or other day on which banking institutions in New York, New York are authorized or
required by Law to close.

 

“Code”
means the Internal Revenue Code of 1986, as amended.

 

“Contract”
means any contract, agreement, indenture, note, bond, loan, lease, sublease, conditional sales contract, mortgage, license, sublicense,
franchise agreement, obligation, right, instrument, promise, undertaking, commitment or other binding arrangement or understanding
(in each case, whether written or oral).

 

“Enforceability
Exceptions” means (a) any applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar
Laws affecting creditors’ rights generally and (b) general principles of equity.

 

“Five Oaks”
has the meaning set forth in the recitals.

 

“Governmental
Authority” means any federal, state, local or foreign government or political subdivision thereof, or any agency or instrumentality
of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority
or quasi-governmental authority (to the extent that the rules, regulations or orders of such organization or authority have the
force of Law), or any arbitrator, court or tribunal of competent jurisdiction.

 

    	 	2	 

     

    

 

“Governmental
Order” means any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any
Governmental Authority.

 

“Hunt”
has the meaning set forth in the preamble.

 

“Investment Company
Act” means the Investment Company Act of 1940, as amended.

 

“Investment Advisers
Act” means the Investment Advisers Act of 1940, as amended.

 

“Law”
means any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment, decree, other requirement
or rule of law of any Governmental Authority.

 

“Liability”
means any liability, obligation, debt or commitment of whatever kind or nature whatsoever (whether known or unknown, whether asserted
or unasserted, whether absolute or contingent, whether accrued or unaccrued, whether matured or unmatured, whether liquidated or
unliquidated and whether due or to become due or otherwise) regardless of when arising.

 

“Losses”
means losses, damages, Liabilities, deficiencies, Actions, judgments, interest, awards, penalties, fines, costs or expenses of
whatever kind, including reasonable attorneys’ fees and the cost of enforcing any right to indemnification hereunder and
the cost of pursuing any insurance providers; provided, however, that “Losses” shall not include punitive
damages, business interruption loss, loss of future revenue, diminution in value, lost profits or income, or consequential damages
(except to the extent contemplated or reasonably foreseeable), except in the case of fraud or to the extent actually awarded to
a Governmental Authority or other third party.

 

“Management Agreement”
has the meaning set forth in the recitals.

 

“New Management
Agreement” has the meaning set forth in the recitals.

 

“OCCP”
has the meaning set forth in the preamble.

 

“OCCP’s
Knowledge” or any other similar knowledge qualification, means the actual or constructive knowledge of any of David Carroll,
David Oston, Paul Chong, Thomas Flynn, Darren Comisso or any director or officer of OCCP, in each case, after due inquiry.

 

“Person”
means an individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated
organization, trust, association or other entity.

 

“Representative”
means, with respect to any Person, any and all managers, directors, officers, employees, trustees, control persons, partners, stockholders,
equity holders, members, consultants, financial advisors, counsel, accountants and other agents of such Person.

 

“Securities Act”
means the Securities Act of 1933, as amended.

 

    	 	3	 

     

    

 

“Tail Policy”
has the meaning set forth in Section 3.5.

 

“Taxes”
means (a) all federal, state, local, foreign and other income, gross receipts, sales, use, production, ad valorem, transfer, documentary,
franchise, registration, profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated,
excise, severance, environmental, stamp, occupation, premium, property (real or personal), real property gains, windfall profits,
customs, duties or other taxes, fees, assessments or charges of any kind whatsoever; (b) any interest, additions or penalties with
respect thereto and any interest in respect of such additions or penalties; and (c) any Liability in respect of the items described
in clauses (a) and (b) payable by reason of successor, transferee or other Liability, operation of law, Treasury Regulations
under section 1502 of the Code, or by contract, indemnity or otherwise.

 

“Transition Agreement”
has the meaning set forth in the recitals.

 

“Treasury Regulations”
means the Treasury regulations promulgated under the Code.

 

Section 1.2          Interpretive
Provisions. Unless the express context otherwise requires:

 

(a)          the
words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement,
shall refer to this Agreement as a whole and not to any particular provision of this Agreement;

 

(b)          words
defined in the singular shall have a comparable meaning when used in the plural, and vice versa;

 

(c)          the
words “Dollars” and “$” mean U.S. dollars;

 

(d)          references
herein to a specific Article, Section, Subsection, Recital, Schedule or Exhibit shall refer, respectively, to Articles, Sections,
Subsections, Recitals, Schedules or Exhibits of this Agreement or the Disclosure Schedules or Exhibits attached hereto;

 

(e)          wherever
the word “include,” “includes” or “including” is used in this Agreement, it shall be deemed
to be followed by the words “without limitation”;

 

(f)          references
herein to any gender shall include each other gender;

 

(g)          references
herein to any Person shall include such Person’s heirs, executors, personal representatives, administrators, successors and
assigns; provided, however, that nothing contained in this clause (g) is intended to authorize any assignment or
transfer not otherwise permitted by this Agreement;

 

(h)          references
herein to a Person in a particular capacity or capacities shall exclude such Person in any other capacity;

 

(i)          with
respect to the determination of any period of time, the word “from” means “from and including” and the
words “to” and “until” each means “to but excluding”;

 

    	 	4	 

     

    

 

(j)          the
word “or” shall be disjunctive but not exclusive;

 

(k)          references
herein to any Law shall be deemed to refer to such Law as amended, reenacted, supplemented or superseded in whole or in part and
in effect from time to time and also to all rules and regulations promulgated thereunder;

 

(l)          references
herein to any Contract, instrument or other document mean such Contract, instrument or document as amended, supplemented or modified
(including any waiver thereto) in accordance with the terms thereof, except that with respect to any Contract listed on any schedule
hereto, all such amendments, supplements or modifications must also be listed on such schedule; and

 

(m)          any
reference to “ordinary course of business” will be interpreted to mean “ordinary course of business consistent
with past practice.”

 

Article
II

TERMINATION AND RELEASE

 

Section 2.1          Termination
of Management Agreement; Waiver of Termination Fee.

 

(a)          Subject
to the terms and conditions set forth herein, effective as of the execution of this Agreement, the Management Agreement is hereby
terminated by mutual agreement of Five Oaks and OCCP; provided, however, that Five Oaks and OCCP hereby agree that
Section 9 (provided, that Five Oaks’ surviving indemnification obligations shall solely be with respect to Losses (as defined
in the Management Agreement) (i) arising from claims brought by Five Oaks or third parties against OCCP or its Affiliates (excluding
claims brought against OCCP or its Affiliates for the payment of fees, costs or expenses for services performed on or prior to
the date hereof) relating to the Management Agreement and (ii) which are otherwise indemnifiable under the terms of Section 9 of
the Management Agreement, as modified by the foregoing) and Sections 6, 15 and 17(e) of the Management Agreement shall survive
the Termination in accordance with the terms of the Management Agreement (the “Surviving Provisions”).

 

(b)          Upon
the entry into this Agreement, Five Oaks shall pay to OCCP an amount equal to $357,965.94, which amount represents all accrued
and unpaid fees and reimbursements required to be paid under the Management Agreement through the date hereof.

 

(c)          Upon
receipt of the payment specified in Section 2.1(b), OCCP hereby releases Five Oaks from any and all claims OCCP or its Affiliates
may have in respect of any fees or reimbursements under the Management Agreement. The foregoing shall not in any way limit or modify
Five Oaks’ indemnification obligations under Section 9 of the Management Agreement (subject to the terms of this Agreement
and limitations set forth in Section 2.1(a)).

 

(d)          OCCP
hereby irrevocably waives any and all right or interest that OCCP may have to receive a Termination Fee (as such term is defined
in the Management Agreement) under the Management Agreement in connection with the Termination or the transactions contemplated
hereby. OCCP acknowledges and agrees that it has no right to receive a Termination Fee under the Management Agreement.

 

    	 	5	 

     

    

  

Section 2.2           OCCP
Release. OCCP, on behalf of itself and its controlled Affiliates and their successors and assigns hereby releases, acquits
and forever discharges Five Oaks and each of its Affiliates, stockholders, members, directors, officers, employees, agents, representatives
or advisors shareholders, members, partners, managers, directors, officers and employees, in their capacities as such, and each
of their respective successors and assigns from any and all claims, demands, damages, actions, causes of action, rights, costs,
losses, expenses, compensation or suits in equity, of whatsoever kind or nature, occurring or arising at any time through and
including the date hereof with respect to the Management Agreement; provided, however, that the release included
in this Section 2.2 shall not include (i) the right to enforce the Surviving Provisions or (ii) the right to assert any
affirmative defenses, indemnity claims under Section 9 of the Management Agreement (subject to the terms of this Agreement) or
counterclaims, in each case, in connection with any claim brought against OCCP or its Affiliates relating to the Management Agreement,
whether occurring or arising at, prior to or after the date hereof (clauses (i) and (ii), the “Excluded Matters”).

 

Section 2.3           Covenant
Not to Sue. Other than any Action or proceeding to enforce the terms of this Agreement or relating to the Excluded Matters,
OCCP hereby agrees not to encourage, solicit, initiate, institute, commence, continue, file, or otherwise prosecute, directly
or indirectly, or through third parties, any lawsuit, Action, claim, demand, or legal proceeding, for or arising out of or relating
to the Management Agreement.

 

Article
III

TrANSITION ASSISTANCE

 

Section 3.1          Books
and Records.

 

(a)          Subject
to the Surviving Provisions and Section 3.1(c), OCCP will make its Books and Records available to any external manager of
Five Oaks.

 

(b)          For
a period of 18 months from the Termination, subject to Section 3.1(c), OCCP shall (i) retain and reasonably make available
to Five Oaks and its Affiliates and Representatives (including any then external manager of Five Oaks) copies of all information
related to the Business or Five Oaks, (ii) respond promptly to the reasonable requests of Five Oaks and its Affiliates and
Representatives (including any then external manager of Five Oaks) for information regarding the Business or Five Oaks, including
in connection with the assessment or audit of internal control of financial reporting and management’s assessment thereof,
Tax, litigation and other appropriate matters, (iii) reasonably cooperate with Five Oaks and its Affiliates and Representatives
(including any then external manager of Five Oaks) and take all reasonable steps requested by Five Oaks and its Affiliates and
Representatives (including any then external manager of Five Oaks) to assist in making an orderly transition to a new external
manager of Five Oaks of the functions performed by OCCP for Five Oaks and (iv) promptly make available the personnel of OCCP
(to the extent still employed by OCCP) regarding the foregoing, to the extent such activities are at reasonable times and places
and do not interfere with the performance of their employment duties.

 

    	 	6	 

     

    

  

(c)          Notwithstanding
anything to the contrary set forth herein, OCCP shall not be required to, or cause its controlled Affiliates, to deliver or make
available any Books and Records where such delivery would (a) jeopardize the attorney-client, work product or other legal privilege
of OCCP, (b) contravene any applicable Law (including any applicable law related to the confidentiality of individual performance
or evaluation records, medical histories or other personnel-related information) or Governmental Order, or (c) materially breach
or otherwise give a third party the right to terminate or accelerate material rights under a contract to which OCCP or any of its
Affiliates is a party or otherwise bound (other than any such contract to which Five Oaks or any of its Affiliates (other than
OCCP and its Affiliates) is also a party or otherwise bound or for which Five Oaks had an obligation to reimburse OCCP for any
fees or reimbursement incurred thereunder); provided that in each case, OCCP shall: (i) give reasonable notice to Five Oaks of
the fact that it is withholding any Books and Records pursuant to this Section 3.1(c), (ii) inform Five Oaks with sufficient
detail of the reason for such restriction or prohibition, and (iii) use its reasonable best efforts to cause the Books and Records
that are subject to such restriction or prohibition to be provided in a manner that would not reasonably be expected to violate
such restriction or prohibition, including using reasonable best efforts to obtain a waiver of any such liability or third party
right; and provided further that (x) the auditors and accountants of OCCP or its Affiliates shall not be obligated to make any
work papers (to the extent extant) available to any Person unless and until such Person has signed a customary agreement relating
to such access to work papers in form and substance reasonably acceptable to such auditors or accountants, and (y) if the parties
are in an adversarial relationship in litigation or arbitration, the furnishing of Books and Records in accordance with this Section
3.1 shall be subject to applicable rules relating to discovery.

 

Section 3.2           Transition
Under the Management Agreement. From and after the Termination, OCCP shall take, and shall cause its controlled Affiliates
and Representatives to take, the actions set forth in Sections 15(a) through 15(c) of the Management Agreement without any further
compensation therefor.

 

Section 3.3           Further
Assurances. From and after the Termination, each of the parties hereto shall, and shall cause its controlled Affiliates to,
execute and deliver such additional documents, instruments, conveyances and assurances, and take such further actions as may be
reasonably required to carry out the provisions hereof.

 

Section 3.4           Confidentiality.
From and after the Termination, subject to Section 3.6 with respect to public announcements, except as may be required
by applicable Law, Governmental Order or court process, without the prior written consent of Five Oaks, OCCP shall, and shall
cause its controlled Affiliates and subsidiaries to, hold, and shall use its reasonable best efforts to cause its and their respective
Representatives to hold in confidence and not use for any purpose whatsoever (including for its own benefit or for the benefit
of any third-party) any and all information, whether written or oral, concerning the Business or Five Oaks, except to the extent
that OCCP can show that such information: (a) is generally available to and known by the public through no fault of OCCP, any
of its subsidiaries or controlled Affiliates or their respective Representatives; or (b) is lawfully acquired by OCCP, any of
its subsidiaries or controlled Affiliates or their respective Representatives from and after the Termination from sources which
are not prohibited from disclosing such information by a legal, contractual or fiduciary obligation. If OCCP, any of its subsidiaries
or any of their controlled Affiliates or their respective Representatives are compelled to disclose any information by judicial
or administrative process or by other requirements of Law, OCCP shall promptly notify Five Oaks and any external manager of Five
Oaks in writing, to the extent legally permissible, and shall disclose only that portion of such information which OCCP is advised
by its counsel in writing is legally required to be disclosed; provided, that, if requested by Five Oaks or any then external
manager of Five Oaks, OCCP shall, and shall cause its subsidiaries, controlled Affiliates and its and their respective Representatives
to cooperate in all reasonable respects with Five Oaks’ efforts to obtain an appropriate protective order or other reasonable
assurance that confidential treatment will be accorded such information. For purposes of this Section 3.4, Representatives
shall not include stockholders, equity holders or members who are not otherwise covered within another category of Persons under
the definition of Representatives.

 

    	 	7	 

     

    

  

Section 3.5           Insurance.
At or prior to the Termination, OCCP shall, at its sole cost and expense, purchase the following “tail” liability
insurance coverage (each, a “Tail Policy”): (a) the PortfolioSelect for Financial Institutions”
liability policy in force with National Union Fire Insurance Company of Pittsburgh, Pa., policy number 01-381-65-14, and (b) the
investment advisory coverage extension provided to OCCP under Endorsement #37 of the ExecutiveEdge policy in force with
National Union Fire Insurance Company of Pittsburgh, Pa., policy number 01-381-50-46, including the excess coverage following
from such coverage extension in force with Endurance American Insurance Company, policy number FIX10006690202. Each Tail Policy
shall provide for coverage for a period of six years following the Termination related to, arising from or in connection with
any of OCCP’s acts or omissions in connection with the Management Agreement or its performance of services as “Manager”
thereunder prior to the Termination. Each Tail Policy shall provide the coverage and limits contained in the policies in force
immediately prior to the Termination, which coverage and limits are set forth on Schedule 3.5. Five Oaks and any external
manager of Five Oaks (and its successors and assigns) shall be additional named insureds and direct third-party beneficiaries
to each Tail Policy, and OCCP agrees not to take any action to limit, impair or circumvent any Tail Policy, including, to the
extent required, failing to maintain its limited liability company existence.

 

Section 3.6           Public
Announcements. OCCP and Five Oaks agree that the initial press release with respect to this Agreement and the transactions
contemplated hereby shall be in the form set forth on Exhibit A hereto (the “Announcement”). Thereafter,
OCCP agrees and acknowledges that it will, and will cause its controlled Affiliates to, consult with Five Oaks before issuing,
and give Five Oaks the opportunity to review and comment upon, and agree to the terms of, any press release or other public statement
before making any such public statements, in each case, with respect to this Agreement or Five Oaks, and shall not, and shall
cause its controlled Affiliates not to, issue any such press release or make any such public statement prior to such consultation
and agreement, except as may be required by applicable Law, Governmental Order, court process or the rules and regulations of
any national securities exchange, or national securities quotation system. For the avoidance of doubt, nothing herein will restrict
Five Oaks from making any public statement or issuing any press release, provided that Five Oaks shall provide OCCP the opportunity
to review and comment on any press release with respect to this Agreement and the transactions contemplated hereby to the extent
OCCP or its Affiliates are identified by name in the press release and the contents of any such press release are inconsistent
with the Announcement or any other public statements or press releases made by Five Oaks or OCCP in compliance with this Section
3.6.

 

    	 	8	 

     

    

  

Article
IV

Representations and warranties of OCCP

 

Except as set forth in
the correspondingly numbered of the Disclosure Schedules, OCCP represents and warrants to Five Oaks that the statements contained
in this Article IV are true and correct as of the date hereof.

 

Section 4.1           Organization
and Qualification of OCCP. OCCP is a limited liability company, duly organized, validly existing and in good standing under
the Laws of the State of Delaware. There are no bankruptcy, insolvency, reorganization or arrangement proceedings threatened or
commenced by any Person, or pending that involve OCCP or its controlled Affiliates.

 

Section 4.2           Authority
of OCCP and Enforceability. OCCP has full limited liability company power and authority to execute, deliver and perform this
Agreement, to carry out its obligations hereunder and to consummate the transactions contemplated hereby (including, for the avoidance
of doubt, the Termination). The execution, delivery and performance by OCCP of this Agreement and the consummation by OCCP of
the transactions contemplated hereby have been duly and validly authorized by all necessary limited liability company action on
the part of OCCP, and no other limited liability company action on the part of OCCP or its board of directors or managers, management
committee, members or any equity holder is necessary to authorize the execution, delivery and performance by OCCP of this Agreement.
This Agreement has been duly executed and delivered by OCCP and, assuming due execution and delivery by each other party hereto,
constitutes the legal, valid and binding obligation of OCCP, enforceable against OCCP in accordance with its terms, subject to
the Enforceability Exceptions. The entry into this Agreement and the Transition Agreement does not violate any of the applicable
provisions of the Investment Company Act or the Investment Advisers Act.

 

Section 4.3           Non-Contravention.
The execution, delivery and performance by OCCP of this Agreement and the consummation of the transactions contemplated hereby
do not and will not: (a) conflict with or result in a violation or breach of, or default under (or an event which, with the giving
of notice or the passage of time, or both, would constitute a breach), require any consent, authorization, approval or exemption
by, any Person under, or give to others any rights of termination or amendment under, any provision of the certificate of formation,
limited liability company agreement or other organizational documents of OCCP; (b) conflict with or result in a violation or breach
of any provision of any Law or Governmental Order applicable to OCCP; (c) require the consent, notice or other action by any Person
under, conflict with, result in a violation or breach of, constitute a default or an event that, with or without notice or lapse
of time or both, would constitute a default under, result in the acceleration of, or create in any party, the right to accelerate,
terminate, modify or cancel any Contract to which OCCP is a party, or by which any of its assets or properties may be bound or
affected and which has not been obtained on or prior to the date hereof; or (d) result in the creation or imposition of any encumbrance
on OCCP or Five Oaks. This Agreement is adequate and sufficient to complete the Termination, and no further action on the part
of any Person (including Five Oaks or its board of directors or shareholders) is required to effect the Termination.

 

    	 	9	 

     

    

  

Section 4.4           Legal
Proceedings; Governmental Orders.

 

(a)          There
are no Actions pending or, to OCCP’s Knowledge, threatened against OCCP or any of its assets, properties or businesses by
any Person, including any Actions that challenge or seek to prevent, enjoin or otherwise delay the transactions contemplated by
this Agreement. No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such Action.

 

(b)          There
are no outstanding Governmental Orders and no unsatisfied judgments, penalties or awards against, relating to or affecting OCCP
or any of its assets, properties or businesses.

 

Section 4.5           Compliance
With Laws. OCCP has complied, and is in compliance in all material respects, with all Laws applicable or related to it or
its properties or assets, the Business, Five Oaks and the Management Agreement (including in connection with OCCP’s performance
of services as “Manager” thereunder).

 

Section 4.6           Brokers.
No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with
the transactions contemplated by this Agreement based upon arrangements made by or on behalf of OCCP.

 

Article
V

Representations and warranties of FIVE OAKS

 

Five Oaks represents and
warrants to OCCP that the statements contained in this Article V are true and correct as of the date hereof.

 

Section 5.1           Organization
and Qualification of Five Oaks.   Five Oaks is a corporation, duly incorporated, validly existing and in good standing under
the Laws of the State of Maryland.

 

Section 5.2           Authority
of Five Oaks and Enforceability. Five Oaks has full corporate power and authority to execute, deliver and perform this Agreement,
to carry out its obligations hereunder. The execution, delivery and performance by Five Oaks of this Agreement, and the consummation
of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate action on the part of
Five Oaks, and no other corporate action on the part of Five Oaks or its board of directors, members or any equity holder is necessary
to authorize the execution, delivery and performance by Five Oaks of this Agreement. This Agreement has been duly executed and
delivered by Five Oaks and, assuming due execution and delivery by each other party hereto, constitutes the legal, valid and binding
obligation of Five Oaks, enforceable against Five Oaks in accordance with its terms, subject to the Enforceability Exceptions.

 

Section 5.3           Brokers.
No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with
the transactions contemplated hereby based upon arrangements made by or on behalf of Five Oaks, which would give rise to any Liability
of OCCP after the Termination.

 

    	 	10	 

     

    

  

Article
VI

Miscellaneous

 

Section 6.1          Expenses.
Except as otherwise expressly provided herein, all costs and expenses, including fees and disbursements of counsel, financial
advisors and accountants, incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by
the party incurring such costs and expenses.

 

Section 6.2        Notices.
All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be
deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee
if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail of a PDF
document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day
if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered
mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the following addresses
(or at such other address for a party as shall be specified in a notice given in accordance with this Section 6.2):

 

If to OCCP:

 

Oak Circle Capital Partners LLC

540 Madison Avenue, 19th Floor

New York, NY 10022

Attention: Chief Financial Officer

Facsimile:     (212) 257-5099

E-mail:          doston@oakcirclecapital.com

 

If to Five Oaks:

 

Five Oaks Investment Corp.

540 Madison Avenue, 19th Floor

New York, NY 10022

Attention:       Secretary of the Board of Directors

 

Section 6.3          Headings.
The headings in this Agreement are for reference only, and shall not affect the interpretation of this Agreement.

 

Section 6.4          Severability.
If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality
or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such
term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable,
the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as
closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally
contemplated to the greatest extent possible.

 

    	 	11	 

     

    

  

Section 6.5           Entire
Agreement. This Agreement constitutes the sole and entire agreement of the parties to this Agreement with respect to the subject
matter contained herein and therein, and supersede all prior and contemporaneous understandings and agreements, both written and
oral, with respect to such subject matter.

 

Section 6.6           Schedules
and Exhibits. Any matter, information or item disclosed in the Schedules delivered under any specific representation, warranty
or covenant or Schedule number hereof shall be deemed to have been disclosed for all purposes of this Agreement, in response to
all representations, warranties or covenants in this Agreement, solely to the extent the applicability of such matter, information
or item disclosed is apparent based on a plain reading of such disclosure without reference to extrinsic documentation.  The Schedules
and Exhibits hereto are hereby incorporated into this Agreement, and are hereby made a part hereof as if set out in full in this
Agreement

 

Section 6.7           Successors
and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective
successors and permitted assigns. Neither party may assign its rights or obligations hereunder without the prior written consent
of the other party, which consent shall not be unreasonably withheld or delayed. No assignment shall relieve the assigning party
of any of its obligations hereunder.

 

Section 6.8           No
Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their respective successors and
permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person or entity any legal
or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

Section 6.9           Amendment
and Modification; Waiver. This Agreement may only be amended, modified or supplemented by an agreement in writing signed by
each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing
and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure,
breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring
before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from
this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy,
power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power
or privilege.

 

Section 6.10         Mutual
Drafting. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an
ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties
hereto and no presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of the authorship
of any of the provisions of this Agreement.

 

    	 	12	 

     

    

  

Section 6.11         Governing
Law. This Agreement and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of
or relate to this Agreement or the negotiation, execution or performance of this Agreement (including any claim or cause of action
based upon, arising out of or related to any representation or warranty made in, or in connection with, this Agreement or as an
inducement to enter into this Agreement), shall be governed by the internal laws of the State of New York.

 

Section 6.12         Consent
to Jurisdiction and Service of Process.

 

(a)          Other
than an Action by any external manager of Five Oaks for equitable relief as set forth in Section 6.12(b) any Action seeking
to enforce any provision of, or, directly or indirectly arising out of or in any way relating to, this Agreement or the transactions
contemplated hereby shall be brought in a federal or state court located in the State of New York, in each case, located in the
Borough of Manhattan in the county of New York, and each of the parties hereby irrevocably consents to the exclusive jurisdiction
of such courts in any such Action and irrevocably waives, to the fullest extent permitted by Law, any objection that it may now
or hereafter have to the laying of the venue of any such Action in any such court or that any such Action brought in any such court
has been brought in an inconvenient forum. Process in any such Action may be served on any party anywhere in the world, whether
within or without the jurisdiction of any such court. Without limiting the foregoing, each party agrees that service of process
on such party as provided in Section 6.2 shall be deemed effective service of process on such party.

 

(b)          Nothing
contained in Section 6.12(a) shall limit the right of a party hereto to take any Action against any other party hereto in
any court of competent jurisdiction for the purposes of seeking any equitable remedy or relief, including injunctions, rescission
or specific performance, nor shall the taking of any such Action by a party hereto in one or more jurisdictions preclude the taking
of any such Action in any other jurisdiction (whether concurrently or not) if and to the extent permitted by Law.

 

Section 6.13         WAIVER
OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO
A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE CONTEMPLATED
TRANSACTIONS (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT
OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT, AND THE OTHER PARTIES HERETO, HAVE BEEN INDUCED TO ENTER INTO
THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

Section 6.14         Specific
Performance. The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this
Agreement were not performed by them in accordance with the terms hereof or were otherwise breached and that each party hereto
shall be entitled to an injunction or injunctions to prevent breaches of the provisions hereof and to specific performance of
the terms hereof, in addition to any other remedy at law or equity, and the parties hereby waive any requirement for the posting
of any bond or similar collateral in connection herewith.

 

    	 	13	 

     

    

  

Section 6.15         Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be
deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic
transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

Section 6.16         Non-recourse.
This Agreement may only be enforced against, and any claim, action, suit or other legal proceeding based upon, arising out of,
or related to this Agreement, or the negotiation, execution or performance of this Agreement, may only be brought against the
entities that are expressly named as parties hereto and then only with respect to the specific obligations set forth herein with
respect to such party. No past, present or future director, officer, employee, incorporator, manager, member, partner, stockholder,
Affiliate, agent, attorney or other Representative of any party or of any Affiliate of any party, or any of their successors or
permitted assigns, shall have any liability for any obligations or liabilities of any party hereto under this Agreement or for
any claim, action, suit or other legal proceeding based on, in respect of or by reason of the transactions contemplated hereby.

 

[Signature Page Follows]

  

     

     

    

  

IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly
authorized.

 

	 	OAK CIRCLE CAPITAL PARTNERS LLC
	 	 	 
	 	By:	/s/ David Carroll
	 	 	Name: David Carroll
	 	 	Title: Chief Executive Officer
	 	 
	 	FIVE OAKS INVESTMENT CORP.
	 	 	 
	 	By:	/s/ Darren Comisso
	 	 	Name: Darren Comisso
	 	 	Title: Partner

 

Signature
Page to Termination Agreement

 

     

     

    

  

Exhibit A

 

Announcement

 

(Please see attached.)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00278-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00278-of-00352.parquet"}]]