Document:

Exhibit

                                                                                                                                                                    
5355 Town Center Road
Suite 701
Boca Raton, FL 33486

Exhibit 10.2.4

4847-8784-3927v.11
EMERGENT CAPITAL, INC.
2010 OMNIBUS INCENTIVE PLAN AS AMENDED AND RESTATED
RESTRICTED STOCK UNIT AWARD

[NAME]
[ADDRESS]
[ADDRESS]

Dear _________________:
You have been granted a Restricted Stock Unit Award (the “Award”) under the Emergent Capital, Inc, 2010 Omnibus Incentive Plan, as amended and restated (the “Plan”), with terms and conditions described below.  This Award is granted under and governed by the terms and conditions of the Plan.  Additional provisions regarding your Award and definitions of capitalized terms used and not defined in this Award can be found in the Plan.
	
		
	Grant Date:
	[CURRENT DATE]

	Number of Restricted Stock Units (“RSUs”):
	[NUMBER OF SHARES]

	Service Vesting Period:
	Grant Date through [DATE]

	Vesting Schedule:
	The RSUs will vest in full on [DATE], provided you are continuously employed by or in the service of the Company through the Service Vesting Period.

	 
	Notwithstanding the foregoing, the RSUs will vest in full upon the earlier to occur of:

	 
	The date of a Change in Control prior to [DATE], if you are continuously employed with, or in the service of, the Company through the date preceding the date of the Change in Control.
The date prior to [DATE] on which your employment or service relationship with the Company is terminated (1) as a result of your death or Disability or (2) by the Company other than for Cause.

	 
	Except as otherwise provided above, upon your termination of employment, or cessation of services to, the Company prior to the date the RSUs are vested, you will forfeit the unvested RSUs.  In addition, if your employment or service relationship is terminated by the Company other than for Cause but the Company later learns facts that could have permitted it to terminate your employment for Cause if such facts had been known at the time of your termination, then any RSUs that have not yet been settled (whether vested or unvested) shall be forfeited immediately on the date of such determination and any Shares you received in settlement of this Award shall be forfeited and shall be returned to the Company without payment therefor.

                                                                                                                                                                    
5355 Town Center Road
Suite 701
Boca Raton, FL 33486

	
		
	Settlement of RSUs:
	The Company will settle any then-vested RSUs on [DATE] by issuing in your name certificate(s) or making an appropriate book entry for a number of Shares equal to the number of RSUs that are then vested; provided that, upon an earlier Change in Control that (i) is a “change in control event” within the meaning of Code Section 409A and (ii) results in the Stock (or the shares of the successor or surviving corporation (or parent thereof) that are subject to the RSUs following the Change in Control) no longer being publicly traded, the RSUs will be settled as part of a termination and liquidation of the deferred compensation plan represented by the RSUs pursuant to Treas. Reg. s. I.409A-3 (j)(4)(ix)(13).

	Dividend Equivalents:
	You will be credited with dividend equivalents equal to the amount of any dividends or other distributions paid with respect to the Shares underlying the RSUs, so long as the record date occurs before you forfeit the RSUs; provided that any such dividend equivalents will be subject to the same risk of forfeiture, restrictions on transferability and other terms of this Award that apply to the RSUs with respect to which such dividend equivalents were credited.  All such dividend equivalents shall be paid to you at the same time as the RSUs are settled in the form of additional Shares, with no accumulated interest or other earnings and based upon the Fair Market Value of the Stock on the settlement date.

	Rights as Shareholder:
	You will not be deemed for any purposes, including voting rights, to be a shareholder of the Company with respect to any of the RSUs unless and until a certificate for Shares is issued, or an appropriate book entry made, upon settlement of the RSUs.

	Transferability of Award:
	You may not transfer or assign this Award for any reason, other than as set forth in the Plan.  Any attempted transfer or assignment of this Award, other than as set forth in the Plan, will be null and void.

	Transferability of RSUs:
	You may not sell, transfer or otherwise alienate or hypothecate any of your RSUs until they are vested. In addition, by accepting this Award, you agree not to sell any Shares acquired under this Award other than as set forth in the Plan and at a time when applicable laws, Company policies or an agreement between the Company and its underwriters do not prohibit a sale.  The Company also may require you to enter into a shareholder’s agreement that will include additional restrictions on the transfer of Shares acquired under this Award.

	Market Stand-Off:
	In connection with any underwritten public offering by the Company of its equity securities pursuant to an effective registration statement filed under the Securities Act of 1933, as amended, you agree that you shall not directly or indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract for the sale of, or otherwise dispose of or transfer or agree to engage in any of the foregoing transactions with respect to, any Shares acquired under this Award without the prior written consent of the Company and the Company’s underwriters. Such restriction shall be in effect for such period of time following the date of the final prospectus for the offering as may be determined by the Company. In no event, however, shall such period exceed one hundred eighty (180) days.

                                                                                                                                                                    
5355 Town Center Road
Suite 701
Boca Raton, FL 33486

	
		
	Tax Withholding:
	To the extent that the vesting or receipt of the RSUs, or the payment of dividend equivalents thereon, or any other event with respect to this Award, results in income to you for Federal, state or local income tax purposes, you shall deliver to the Company at the time the Company is obligated to withhold taxes in connection with such receipt, such amount as the Company requires to meet its withholding obligation under applicable tax laws or regulations, and if you fail to do so, the Company has the right and authority to deduct or withhold from any compensation payable to you, including compensation due under this Award, an amount sufficient to satisfy its withholding obligations.  You may satisfy the withholding requirement, in whole or in part, by electing to have the Company withhold for its own account that number of Shares otherwise deliverable to you under the Award having an aggregate Fair Market Value on the date the tax is to be determined equal to the tax that the Company must withhold; provided that the amount to be withheld may not exceed the total minimum statutory tax withholding obligations associated with the transaction to the extent needed for the Company and its Affiliates to avoid an accounting charge until Accounting Standards Update 2016-09 applies to the Company, after which time the amount to be withheld may not exceed the total maximum statutory tax rates associated with the transaction.  Your election must be irrevocable, in writing, and submitted to the Secretary of the Company before the date of the applicable event triggering the withholding obligation.  The Fair Market Value of any fractional Share not used to satisfy the withholding obligation (as determined on the date the tax is determined) will be paid to you in cash.

	Miscellaneous:
	This Award may be amended only by written consent signed by both you and the Company, unless the amendment is not to your detriment.  Notwithstanding the foregoing, this Award may be amended or terminated by the Board or the Committee without your consent in accordance with the provisions of the Plan.
The failure of the Company to enforce any provision of this Award at any time shall in no way constitute a waiver of such provision or of any other provision hereof.
In the event any provision of this Award is held illegal or invalid for any reason, such illegality or invalidity shall not affect the legality or validity of the remaining provisions of this Award, and this Award shall be construed and enforced as if the illegal or invalid provision had not been included in this Award.
The RSUs constitute a mere promise by the Company to make specified payments in the future if such benefits come due under the Award. You will have the status of a general creditor of the Company with respect to any vested Award.
As a condition to the grant of this Award, you agree (with such agreement being binding upon your legal representatives, guardians, legatees or beneficiaries) that this Award shall be interpreted by the Committee and that any interpretation by the Committee of the terms of this Award or the Plan, and any determination made by the Committee pursuant to this Award or the Plan, shall be final, binding and conclusive.
This Award may be executed in counterparts.

                                                                                                                                                                    
5355 Town Center Road
Suite 701
Boca Raton, FL 33486

BY SIGNING BELOW AND ACCEPTING THIS RESTRICTED STOCK UNITS AWARD, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED HEREIN AND IN THE PLAN. YOU ALSO ACKNOWLEDGE HAVING READ THE PLAN.

	
					
	 
	 
	 
	 
	 

	By:
	 
	 
	 
	 

	 
	 
	 
	[NAME]
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	Name:
	 
	 
	 
	 

	Date:Exhibit

Exhibit 10.3.4

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Agreement”) is made and entered into this 4th day of October, 2017, by and among WHITE EAGLE ASSET PORTFOLIO, LP, a Delaware limited partnership (the “Borrower”), IMPERIAL FINANCE & TRADING, LLC, a Florida limited liability company (“Imperial”), LAMINGTON ROAD BERMUDA LTD., a Bermuda company (“the Portfolio Manager”), CLMG CORP., a Texas corporation, as Administrative Agent (in such capacity, the “Agent”), and LNV CORPORATION., a Nevada corporation, as Lender (in such capacity, the “Lender”).
WITNESSETH:
A.    The Borrower, Imperial, the Portfolio Manager, the Agent and the Lender are parties to that certain Second Amended and Restated Loan and Security Agreement, dated as of January 31, 2017 (the “Loan Agreement”). Capitalized words and terms used herein, but not defined herein, have the meanings set forth in the Loan Agreement.
B.    The Borrower, Imperial and the Portfolio Manager have requested that the Agent and the Lender agree to amend the definition of Cash Flow Sweep Percentage set forth in Annex I to the Loan Agreement as set forth herein.
NOW, THEREFORE, for and in consideration of the premises, the mutual covenants and agreements herein contained, and other good and valuable consideration, the receipt and sufficiency of all of which are hereby acknowledged and confessed by each of the parties hereto, the parties hereto hereby agree as follows:
		
	1.
	The definition of Cash Flow Sweep Percentage set forth in Annex I to the Loan Agreement is replaced in its entirety by the following definition:

““Cash Flow Sweep Percentage” means, with respect to any Distribution Date, (i) if such Distribution Date occurs prior to December 28, 2025, and (w) the LTV is greater than sixty-five percent (65%), one-hundred percent (100%), (x) the LTV is less than or equal to sixty-five percent (65%) but greater than fifty percent (50%), seventy percent (70%), (y) the LTV is less than or equal to fifty percent (50%) but greater than thirty-five percent (35%), fifty-five percent (55%) or (z) the LTV is less than or equal to thirty-five percent (35%), forty-five percent (45%); provided that if (a) EMG failed to maintain a Cash Interest Coverage Ratio of at least 2.0:1 at any time during the immediately preceding calendar quarter (with respect to the calendar quarter ending September 30, 2017, excluding the period of time commencing on July 1, 2017 and ending on July 28, 2017) or (b) EMG fails to take steps to improve its solvency in a manner acceptable to the Required Lenders (as determined in their 

	
			
	DOC ID - 26661100.4
	1
	 

sole and absolute discretion), then the Cash Flow Sweep Percentage shall equal one-hundred percent (100%) and (ii) if such Distribution Date occurs on or after December 28, 2025, one-hundred percent (100%).”
		
	2.
	AS A MATERIAL INDUCEMENT TO THE LENDER AND THE AGENT TO ENTER INTO THIS AGREEMENT, THE BORROWER, IMPERIAL AND THE PORTFOLIO MANAGER, EACH ON BEHALF OF ITSELF AND ITS SUCCESSORS, ASSIGNS, LEGAL REPRESENTATIVES AND CONSTITUENTS (WHETHER OR NOT A PARTY HERETO) (BORROWER, IMPERIAL, THE PORTFOLIO MANAGER AND SUCH SUCCESSORS, ASSIGNS, LEGAL REPRESENTATIVES AND CONSTITUENTS BEING REFERRED TO HEREIN COLLECTIVELY AND INDIVIDUALLY, AS “OBLIGORS, ET AL.”), HEREBY FULLY, FINALLY AND COMPLETELY RELEASE AND FOREVER DISCHARGE THE LENDER, THE AGENT AND THEIR RESPECTIVE AFFILIATES AND EACH OF THE LENDER’S, THE AGENT’S AND EACH SUCH AFFILIATE’S RESPECTIVE OWNERS, SUCCESSORS, ASSIGNS, SUBSIDIARIES, PARENTS, OFFICERS, SHAREHOLDERS, DIRECTORS, EMPLOYEES, ATTORNEYS AND AGENTS, PAST, PRESENT AND FUTURE, AND THEIR RESPECTIVE HEIRS, PREDECESSORS, SUCCESSORS AND ASSIGNS (COLLECTIVELY AND INDIVIDUALLY, “LENDER, ET AL.”) OF AND FROM ANY AND ALL CLAIMS, CONTROVERSIES, DISPUTES, LIABILITIES, OBLIGATIONS, DEMANDS, DAMAGES, EXPENSES (INCLUDING, WITHOUT LIMITATION, REASONABLE ATTORNEYS’ FEES), DEBTS, LIENS, ACTIONS AND CAUSES OF ACTION OF ANY AND EVERY NATURE WHATSOEVER, INCLUDING, WITHOUT LIMITATION, ANY THEREOF RELATING TO THE LOAN AGREEMENT, AND WAIVE AND RELEASE ANY DEFENSE, RIGHT OF COUNTERCLAIM, RIGHT OF SET-OFF OR DEDUCTION TO THE PAYMENT OF THE INDEBTEDNESS EVIDENCED BY THE LENDER NOTE AND/OR ANY OTHER TRANSACTION DOCUMENT WHICH OBLIGORS, ET AL. NOW HAVE OR MAY CLAIM TO HAVE AGAINST LENDER, ET AL., OR ANY THEREOF, ARISING OUT OF, CONNECTED WITH OR RELATING TO ANY AND ALL ACTS, OMISSIONS OR EVENTS OCCURRING PRIOR TO THE EXECUTION OF THIS AGREEMENT.

THE BORROWER, IMPERIAL AND THE PORTFOLIO MANAGER  HEREBY ACKNOWLEDGE, REPRESENT AND WARRANT TO THE LENDER AND THE AGENT THAT THEY AGREE TO ASSUME THE RISK OF ANY AND ALL UNKNOWN, UNANTICIPATED OR MISUNDERSTOOD DEFENSES AND CLAIMS WHICH ARE RELEASED BY THE PROVISIONS HEREOF IN FAVOR OF LENDER, ET AL., AND WAIVE AND RELEASE ALL RIGHTS AND BENEFITS WHICH THEY MIGHT OTHERWISE HAVE UNDER ANY FEDERAL, STATE OR LOCAL LAW OR STATUTE WITH REGARD TO THE 

	
			
	DOC ID - 26661100.4
	2
	 

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT, by and among WHITE EAGLE ASSET PORTFOLIO, LP, IMPERIAL FINANCE & TRADING, LLC, LAMINGTON ROAD BERMUDA LTD., CLMG CORP., and LNV CORPORATION.

RELEASE OF SUCH UNKNOWN, UNANTICIPATED OR MISUNDERSTOOD DEFENSES OR CLAIMS.
THE BORROWER, IMPERIAL AND THE PORTFOLIO MANAGER ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTAND EACH OF THE PROVISIONS OF THIS RELEASE. THE BORROWER, IMPERIAL AND THE PORTFOLIO MANAGER FULLY UNDERSTAND THAT THIS RELEASE CONSTITUTES A GENERAL RELEASE, AND THAT IT HAS IMPORTANT LEGAL CONSEQUENCES. THE BORROWER, IMPERIAL AND THE PORTFOLIO MANAGER UNDERSTAND AND CONFIRM THAT THEY ARE HEREBY RELEASING ANY AND ALL RELEASED CLAIMS THAT ANY MAY INDIVIDUALLY HAVE AS OF THE DATE HEREOF. THE BORROWER, IMPERIAL AND THE PORTFOLIO MANAGER HEREBY ACKNOWLEDGE THAT THEY HAVE HAD A FULL AND FAIR OPPORTUNITY TO OBTAIN A LAWYER’S ADVICE CONCERNING THE LEGAL CONSEQUENCES OF THIS RELEASE AND WAIVER.
		
	3.
	As an additional material inducement to the Lender and the Agent to enter into this Agreement and to amend certain provisions of the Loan Agreement as provided herein, the Borrower, Imperial and the Portfolio Manager hereby represent and warrant to, and agree with, the Lender and the Agent that, as of the date hereof:

		
	(a)
	the Transaction Documents, as amended hereby, are in full force and effect and none of Borrower, Imperial or the Portfolio Manager has any defense, counterclaim or offset to the payment or performance of any of such party’s obligations in regard to the Advances or any of the Transaction Documents, as amended hereby, and the Liens created and granted by the Transaction Documents continue unimpaired and of first priority and secure all existing and future obligations owed to the Lender and/or the Agent in regard to the Advances;

		
	(b)
	the representations and warranties of the Borrower, Imperial and the Portfolio Manager set forth in the Transaction Documents are true and correct in all material respects as of the date hereof and are hereby reaffirmed as if such representations and warranties had been made on the date hereof (except to the extent any of such representations or warranties expressly relate to an earlier date, in which case, each of the Borrower, Imperial and the Portfolio Manager reaffirms each such representation and warranty as of such earlier date) and shall continue in full force and effect; and

		
	(c)
	this Agreement constitutes the legal, valid and binding obligation of the Borrower, Imperial and the Portfolio Manager, enforceable against the Borrower, Imperial and the Portfolio Manager in accordance with the terms hereof.

	
			
	DOC ID - 26661100.4
	3
	 

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT, by and among WHITE EAGLE ASSET PORTFOLIO, LP, IMPERIAL FINANCE & TRADING, LLC, LAMINGTON ROAD BERMUDA LTD., CLMG CORP., and LNV CORPORATION.

The representations and warranties of the Borrower, Imperial and the Portfolio Manager contained in this Agreement and in the Transaction Documents shall survive the consummation of the transactions contemplated by this Agreement.
		
	4.
	In addition to the documents, instruments and acts described in this Agreement and which are to be executed and/or delivered and/or taken pursuant to this Agreement, the Borrower, Imperial and the Portfolio Manager shall execute and deliver, and/or cause to be executed and delivered, from time to time upon request by the Agent such other documents and instruments, and take such other action, as the Agent may reasonably request or require to more fully and completely evidence and carry out the transactions contemplated by this Agreement. 

		
	5.
	The Borrower, Imperial and the Portfolio Manager hereby affirm, confirm, ratify, renew and extend the debts, duties, obligations, liabilities, rights, titles, security interests, Liens, powers and privileges created or arising by virtue of the Transaction Documents, as amended hereby, until all of the Advances and all other Obligations have been paid and performed in full. The Borrower confirms that it is fully, unconditionally liable for the payment and performance of the Advances as provided in the Transaction Documents and that neither the Agent nor the Lender has released, forgiven, discharged, impaired, waived or relinquished, and the Agent and the Lender do not hereby release, forgive, discharge, impair, waive or relinquish any rights, titles, interests, Liens, security interests, Collateral, parties, remedies or any other matter with respect to the Advances or any of the Transaction Documents, but rather the Agent and the Lender are expressly retaining and reserving the same to their fullest extent.

		
	6.
	Except as expressly amended hereby, all the terms, provisions, debts, duties, Obligations, liabilities, representations, warranties, rights, titles, security interests, Liens, powers and privileges existing by virtue of the Transaction Documents shall be and continue in full force and effect and are hereby acknowledged by the Borrower, Imperial and the Portfolio Manager to be legal, valid, binding and enforceable in accordance with their terms.

		
	7.
	This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York and the laws of the United States applicable to transactions within New York, exclusive of any laws relating to conflicts of law that would require the application of the laws of any other jurisdiction.

		
	8.
	This Agreement shall constitute a Transaction Document and shall be binding upon the parties hereto and their respective successors and assigns. Nothing contained herein shall act to amend or modify any of the provisions of the Transaction Documents which restrict or prohibit assignment or transfer.

		
	9.
	Neither this Agreement nor any provision of any of the other Transaction Documents may be waived, modified or amended, except by an instrument in writing signed by the party against which the enforcement of such waiver, modification or amendment is sought, accompanied by the prior written consent of the Agent, and then only to the extent set forth in such instrument.

	
			
	DOC ID - 26661100.4
	4
	 

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT, by and among WHITE EAGLE ASSET PORTFOLIO, LP, IMPERIAL FINANCE & TRADING, LLC, LAMINGTON ROAD BERMUDA LTD., CLMG CORP., and LNV CORPORATION.

		
	10.
	This Agreement constitutes the entire agreement between the parties in regard to the amendment of the Loan Agreement effected hereby.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

	
			
	DOC ID - 26661100.4
	5
	 

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT, by and among WHITE EAGLE ASSET PORTFOLIO, LP, IMPERIAL FINANCE & TRADING, LLC, LAMINGTON ROAD BERMUDA LTD., CLMG CORP., and LNV CORPORATION.

    

		
	11.
	This Agreement may be signed in multiple counterparts and each shall be deemed to be an original, and the facsimile transmission of executed counterpart agreements shall be deemed to be an originally executed agreement; provided that executed original documents are provided to the parties promptly following such facsimile transmission.

		
	12.
	The Borrower agrees to pay and/or reimburse the Agent and the Lender for all costs and expenses incurred by the Agent and/or the Lender in regard to the amendment of the Loan Agreement effected hereby.

EXECUTED as of the day and year first above written.
	
	
	WHITE EAGLE ASSET PORTFOLIO, LP, as Borrower

	By: White Eagle General Partner, LLC, its General Partner

	By: /s/ Jason Sutherland 
Name:   Jason Sutherland 
Title:   Vice President

	 

	IMPERIAL FINANCE & TRADING, LLC,  
as Initial Servicer, Initial Portfolio Manager and Guarantor

	 

	By: /s/ Miriam Martinez 
Name:   Miriam Martinez 
Title:   CFO

	
			
	DOC ID - 26661100.4
	6

	 

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT, by and among WHITE EAGLE ASSET PORTFOLIO, LP, IMPERIAL FINANCE AND TRADING, LLC, LAMINGTON ROAD BERMUDA LTD., CLMG CORP., and LNV CORPORATION.

	
	
	LAMINGTON ROAD BERMUDA LTD.,  
as Portfolio Manager

	 

	By: /s/Jason Sutherland 
Name:   Jason Sutherland 
Title:   Vice President

	 

	LENDER:

	LNV CORPORATION

	 

	By:   /s/ Jacob Cherner
Name:  Jacob Cherner 
Title:   Executive Vice President

	 

	ADMINISTRATIVE AGENT:

	CLMG CORP.

	 

	By:   /s/ James Erwin 
Name:   James Erwin 
Title:   President

	
			
	DOC ID - 26661100.4
	7
	 

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT, by and among WHITE EAGLE ASSET PORTFOLIO, LP, IMPERIAL FINANCE & TRADING, LLC, LAMINGTON ROAD BERMUDA LTD., CLMG CORP., and LNV CORPORATION.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}]]