Document:

Exhibit
10.4

 

REGISTRATION
RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT, is by and between Endonovo Therapeutics, Inc., a Delaware corporation (the “Company”),
and Bellridge Capital LP(the “Holder”), and is made pursuant to that certain Securities Purchase Agreement
between the Company and the Holder, dated as of the date hereof (the “Purchase Agreement”).

 

WHEREAS,
pursuant to the terms of and in order to induce the Holder to enter into the Purchase Agreement, the Company and the Holder have
agreed to enter into this Agreement.

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants contained herein, the Company and the Holder hereby agree
as follows:

 

1.Mandatory
Registration. The Company shall file a registration statement with the Securities and Exchange Commission (the “SEC”)
which seeks to register the shares of the Company’s common stock, par value $0.0001 (the “Common Stock”)
issuable to the Holder pursuant to the terms of the Purchase Agreement (the “Registerable Securities”) under
the Securities Act of 1933 (the “1933 Act”) and pursuant to the applicable rule and regulations of the SEC,
no later than forty-five (45) days after the final closing date of the Purchase Agreement. The Company will use its best efforts
to cause such registration statement to be declared effective by the SEC within ninety (90) days after the initial filing with
the SEC.

 

2.Cooperation
with Company. The Holder will cooperate with the Company in all respects in connection with this Agreement, including, timely
supplying all information reasonably requested by the Company and executing and returning all documents reasonably requested in
connection with the registration and sale of the Registerable Securities, at no expense to the Holder.

 

3.Registration
Procedures. If and whenever the Company is required by any of the provisions of this Agreement to use its best efforts to
effect the registration of any of the Registerable Securities under the 1933 Act, the Company shall (except as otherwise provided
in this Agreement), as expeditiously as possible:

 

a.prepare
and file with the SEC a registration statement using its best efforts to cause such registration statement to become effective
and remain effective until all the Registerable Securities are sold or become capable of being publicly sold without registration
under the 1933 Act.

 

b.prepare
and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith
as may be necessary to keep such registration statement effective and to comply with the provisions of the 1933 Act with respect
to the sale or other disposition of all securities covered by such registration statement whenever the Holder shall desire to
sell or otherwise dispose of the same (including prospectus supplements with respect to the sales of securities from time to time
in connection with a registration statement pursuant to Rule 415 of the SEC);

 

c.furnish
to the Holder such numbers of copies of a summary prospectus or other prospectus, including a preliminary prospectus or any amendment
or supplement to any prospectus, in conformity with the requirements of the 1933 Act, and such other documents, as the Holder
may reasonably request in order to facilitate the public sale or other disposition of the securities owned by the Holder;

 

    	 	 	 

     

    

 

d.use
its best efforts to register and qualify the securities covered by such registration statement under such other securities or
blue sky laws of such jurisdictions as the Holder shall reasonably request, and do any and all other acts and things which may
be necessary or advisable to enable the Holder to consummate the public sale or other disposition in such jurisdiction of the
securities owned by the Holder, except that the Company shall not for any such purpose be required to qualify to do business as
a foreign corporation in any jurisdiction wherein it is not so qualified or to file therein any general consent to service of
process;

 

e.use
its best efforts to list such securities on any securities exchange on which any securities of the Company is then listed, if
the listing of such securities is then permitted under the rules of such exchange;

 

f.enter
into and perform its obligations under an underwriting agreement, if the offering is an underwritten offering, in usual and customary
form, with the managing underwriter or underwriters of such underwritten offering;

 

g.notify
the Holder of Registerable Securities covered by such registration statement, at any time when a prospectus relating thereto covered
by such registration statement is required to be delivered under the 1933 Act, of the happening of any event of which it has knowledge
as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of
a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not
misleading in the light of the circumstances then existing; and

 

h.furnish,
at the request of the Holder on the date such Registerable Securities are delivered to the underwriters for sale pursuant to such
registration or, if such Registerable Securities are not being sold through underwriters, on the date the registration statement
with respect to such Registerable Securities becomes effective, (i) an opinion, dated such date, of the counsel representing the
Company for the purpose of such registration, addressed to the underwriters, if any, and to the Holder, covering such legal matters
with respect to the registration in respect of which such opinion is being given as the Holder may reasonably request and are
customarily included in such an opinion and (ii) letters, dated, respectively, (1) the effective date of the registration statement
and (2) the date such Registerable Securities are delivered to the underwriters, if any, for sale pursuant to such registration
from a firm of independent certified public accountants of recognized standing reasonably selected by the Company, addressed to
the underwriters, if any, and to the Holder, covering such financial, statistical and accounting matters with respect to the registration
in respect of which such letters are being given as the Holder may reasonably request and are customarily included in such letters.

 

4.Expenses.
All expenses incurred in any registration of the Holder’s Registerable Securities under this Agreement shall be paid by
the Company, including, without limitation, printing expenses, fees and disbursements of counsel for the Company, expenses of
any audits to which the Company shall agree or which shall be necessary to comply with governmental requirements in connection
with any such registration, all registration and filing fees for the Holder’s Registerable Securities under federal and
State securities laws, and expenses of complying with the securities or blue sky laws of any jurisdictions pursuant to Section
3(h)(i); provided, however, the Company shall not be liable for (a) any discounts or commissions to any underwriter; (b) any stock
transfer taxes incurred with respect to Registerable Securities sold in the Offering or (c) the fees and expenses of counsel for
any Holder, provided that the Company will pay the costs and expenses of Company counsel when the Company’s counsel is representing
any or all selling security holders.

 

    	 	 2	 

     

    

 

5.Indemnification.
In the event any Registerable Securities are included in a registration statement pursuant to this Agreement:

 

a.Company
Indemnity. Without limitation of any other indemnity provided to the Holder, to the extent permitted by law, the Company shall
indemnify and hold harmless the Holder, its affiliates, officers, directors and partners, any underwriter (as defined in the 1933
Act) for the Holder, and each person, if any, who controls the Holder or underwriter (within the meaning of the 1933 Act or the
Securities Exchange Act of 1934 (the “Exchange Act”), against any losses, claims, damages or liabilities (joint
or several) to which they may become subject under the 1933 Act, the Exchange Act or other federal or state law, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements,
omissions or violations (collectively a “Violation”): (i) any alleged untrue statement of a material fact contained
in such registration statement including any preliminary prospectus or final prospectus contained therein or any amendments or
supplements thereto, (ii) the alleged omission to state therein a material fact required to be stated therein, or necessary to
make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the 1933 Act, the Exchange
Act, or any state securities law or any rule or regulation promulgated under the 1933 Act, the Exchange Act or any state securities
law, and the Company shall reimburse each such Holder, affiliate, officer or director or partner, underwriter or controlling person
for any legal or other expenses incurred by them in connection with investigating or defending any such loss, claim, damage, liability
or action; provided, however, that the Company shall not be liable to the Holder in any such case for any such loss, claim, damage,
liability or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity
with written information furnished expressly for use in connection with such registration by any such Holder or any other officer,
director or controlling person thereof.

 

b.Holder
Indemnity. The Holder shall indemnify and hold harmless the Company, its affiliates, its counsel, officers, directors and
representatives, any underwriter (as defined in the 1933 Act) and each person, if any, who controls the Company or the underwriter
(within the meaning of the 1933 Act or the Exchange Act, against any losses, claims, damages or liabilities (joint or several)
to which they may become subject under the 1933 Act, the Exchange Act or any state securities law, and the Company shall reimburse
each such Holder, affiliate, officer or director or partner, underwriter or controlling person for any legal or other expenses
incurred by them in connection with investigating or defending any loss, claim, damage, liability or action; insofar as such losses,
claims, damages or liabilities (or actions and respect thereof) arise out of or are based upon any statements or information provided
by the Holder to the Company expressly for use in connection with the offer or sale of Registerable Securities.

 

c.Notice;
Right to Defend. Promptly after receipt by an indemnified party under this Section 5 of notice of the commencement of any
action (including any governmental action), such indemnified party shall, if a claim in respect thereof is to be made against
any indemnifying party under this Section 5 deliver to the indemnifying party a written notice of the commencement thereof and
the indemnifying party shall have the right to participate in and if the indemnifying party agrees in writing that it will be
responsible for any costs, expenses, judgments, damages and losses incurred by the indemnified party with respect to such claim,
jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory
to the parties; provided, however, that an indemnified party shall have the right to retain its own counsel, with the fees and
expenses to be paid by the indemnifying party, if the indemnified party reasonably believes that representation of such indemnified
party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests
between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written
notice to the indemnifying party within a reasonable time of the commencement of any such action shall relieve such indemnifying
party of any liability to the indemnified party under this Agreement only if and to the extent that such failure is prejudicial
to its ability to defend such action, and the omission so to deliver written notice to the indemnifying party will not relieve
it of any liability that it may have to any indemnified party otherwise than under this Agreement.

 

    	 	 3	 

     

    

 

d.Contribution.
If the indemnification provided for in this Agreement is held by a court of competent jurisdiction to be unavailable to an indemnified
party with respect to any loss, liability, claim, damage or expense referred to therein, then the indemnifying party, in lieu
of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as
a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the responsibility
of the indemnifying party on the one hand and the indemnified party on the other hand in connection with the statements or omissions
which resulted in such loss, liability, claim, damage or expense as well as any other relevant equitable considerations. The relevant
fault of the indemnifying party and the indemnified party shall be determined by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied
by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission. Notwithstanding the foregoing, the amount the Holder shall be
obligated to contribute pursuant to this Agreement shall be limited to an amount equal to the proceeds to such Holder of the Registerable
Securities sold pursuant to the registration statement which gives rise to such obligation to contribute (less the aggregate amount
of any damages which the Holder has otherwise been required to pay in respect of such loss, claim, damage, liability or action
or any substantially similar loss, claim, damage, liability or action arising from the sale of such Registerable Securities).

 

e.Survival
of Indemnity. The indemnification provided by this Agreement shall be a continuing right to indemnification and shall survive
the registration and sale of any Registerable Securities by any person entitled to indemnification hereunder and the expiration
or termination of this Agreement.

 

6.Remedies.

 

a.Time
is of Essence. The Company agrees that time is of the essence of each of the covenants contained herein and that, in the event
of a dispute hereunder, this Agreement is to be interpreted and construed in a manner that will enable the Holder to sell its
Registerable Securities as quickly as possible after the Holder has indicated to the Company that they desire its Registerable
Securities to be registered. Any delay on the part of the Company not expressly permitted under this Agreement, whether material
or not, shall be deemed a material breach of this Agreement.

 

b.Remedies
Upon Default or Delay. The Company acknowledges the breach of any part of this Agreement may cause irreparable harm to the
Holder and that monetary damages alone may be inadequate. The Company therefore agrees that the Holder shall be entitled to injunctive
relief or such other applicable remedy as a court of competent jurisdiction may provide. Nothing contained herein will be construed
to limit the Holder’s right to any remedies at law, including recovery of damages for breach of any part of this Agreement.

 

    	 	 4	 

     

    

 

7.Notices.

 

a.All
communications under this Agreement shall be in writing and shall be mailed by first class mail, postage prepaid, or telegraphed
or telexed with confirmation of receipt or delivered by hand or by overnight delivery service,

 

b.    If
to the Company, at:

 

       If
to the Holder:

 

       Endonovo
Therapeutics, Inc.

       6320
Canoga Avenue, 15th Floor

       Woodland
Hills Ca 9167

       Attn:

 

or
at such other address as it may have furnished in writing to the Holder of Registerable Securities at the time outstanding, or

 

c.     If
to the Holder:

 

Attn:

 

d.Any
notice so addressed, when mailed by registered or certified mail shall be deemed to be given three (3) days after so mailed, when
telegraphed or telexed shall be deemed to be given when transmitted, or when delivered by hand or overnight shall be deemed to
be given when delivered.

 

8.Successors
and Assigns. Except as otherwise expressly provided herein, this Agreement shall inure to the benefit of and be binding upon
the successors and permitted assigns of the Company and the Holder.

 

9.Amendment
and Waiver. This Agreement may be amended, and the observance of any term of this Agreement may be waived, but only with the
written consent of the Company and the Holder; provided, however, that no such amendment or waiver shall take away
any registration right of the Holder or reduce the amount of reimbursable costs to the Holder in connection with any registration
hereunder without the consent of such Holder. No delay on the part of any party in the exercise of any right, power or remedy
shall operate as a waiver thereof, nor shall any single or partial exercise by any party of any right, power or remedy preclude
any other or further exercise thereof, or the exercise of any other right, power or remedy.

 

10.
Counterparts; Attorney’s Fees. One or more counterparts of this Agreement may be signed by the parties, each of which
shall be an original but all of which together shall constitute one and the same instrument. The prevailing party in any action
or proceeding relating to or arising out of this Agreement shall recover its reasonable attorney’s fees and other costs
from the non-prevailing party, in addition to any other relief to which such prevailing party is entitled.

 

11.
Governing Law. This Agreement shall be construed in accordance with and governed by the internal laws of the State of New
York, without giving effect to conflicts of law principles.

 

12.
Invalidity of Provisions. If any provision of this Agreement is or becomes invalid, illegal or unenforceable in any respect,
the validity, legality and enforceability of the remaining provisions contained herein shall not be affected thereby.

 

13.
Headings. The headings in this Agreement are for convenience of reference only and shall not be deemed to alter or affect
the meaning or interpretation of any provisions hereof.

 

[Intentionally
Blank]

 

    	 	 5	 

     

    

 

IN
WITNESS WHEREOF, the undersigned has executed this Agreement as of the ___ day of ___, 2016.

 

	ENDONOVO
    THERAPEUTICS, INC. 	 	BELLRIDGE
    CAPITAL, LP
	 	 	 	 	 
	 	 	 	By	/s/
	By:	/s/	 	Name:	 
	Name:	 	 	Title:	 
	Title:	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	By	__Alan
    Collier CEO______	 	 	 
	Name:	 	 	 	 
	Title:	 	 	 	 

	 	 	 
	With
    a copy to (which shall not constitute notice):	     With
    a copy to (which shall not constitute notice):

 

[SIGNATURE
PAGE FOR REGISTRATION RIGHTS AGREEMENT]

 

    	 	 6Exhibit 10.1

CONSULTING AGREEMENT

This Consulting Agreement (the “Agreement”) between Capstead Mortgage Corporation, a Maryland corporation (the “Company”), and Andrew F. Jacobs (“Jacobs”), is hereby entered into as of July 14, 2016 (the “Effective Date”) (the signatories to this Agreement may be referred to collectively as “Parties” and individually as a “Party”), who agree as follows:

WHEREAS, Jacobs desires to resign from his position as President, Chief Executive Officer and a director of the Company;

WHEREAS, the Company desires to retain Jacobs as an employee of the Company to provide certain services to the Company; and

WHEREAS, the Parties mutually agree that, as of the Effective Date, Jacobs shall resign from his position as President, Chief Executive Officer and a director of the Company, and shall continue to be an employee of the Company in a confidential and fiduciary relationship through the termination of this Agreement, as herein after defined.

NOW THEREFORE, in consideration of the mutual promises and covenants contained herein, it is agreed as follows:

1.          Continuation of Employment.  On the Effective Date, Jacobs hereby resigns from his positions as President, Chief Executive Officer and a director of the Company, and concurrently herewith, the Company hereby engages Jacobs as an employee of the Company to provides services as set forth in Section 3 hereof.

2.          Consulting Period.  The term of Jacobs’ employment under this Agreement shall be for the period beginning on the Effective Date and ending at 12:01 a.m., Central Time, on January 2, 2017 (the “Employment Termination Time” and, the period from the Effective Date through the Employment Termination Time, the “Consulting Period”).  In the event the Consulting Period is terminated early by either Party pursuant to Section 6, the Employment Termination Time defined in this Section 2 shall not be changed and at all time shall mean 12:01 a.m., Central Time, on January 2, 2017.

3.          Consulting Services.  Jacobs agrees to provide assistance and advice on the Company’s business and other matters, including but not limited to lawsuits, arbitration proceedings, governmental hearings, investigations or proceedings in which the Company or any of its subsidiaries or affiliates is a party or otherwise involved, as may be reasonably requested from time to time during the Consulting Period.

4.          Consulting Payments.  In exchange for Jacobs’ promises and covenants contained in this Agreement, including Jacobs’ full and final release of any and all claims Jacobs may have against the Company, and for Jacobs’ agreement to provide consulting services to the Company during the Consulting Period, the Company agrees to pay Jacobs:

a.          a consulting fee payable at the rate of seven hundred seventy-three thousand and no/100 dollars ($773,000.00) per annum for the period of time from the Effective Date of this Agreement through December 31, 2016 or such earlier date on which this Agreement shall be terminated, which amount shall be paid in substantially equal installments based upon the Company’s then-current regular payroll practices (the “Consulting Payments”), less any applicable taxes and withholdings;

b.          Jacobs will continue to receive retirement related benefits, including contributions to the Company’s nonqualified deferred contribution plan as an employee through the termination of this Agreement. (for the avoidance of doubt, payments described in Section 4.c. shall not be considered “Annual Compensation” for purposes of the Capstead Mortgage Corporation Deferred Compensation Plan, as amended and restated effective January 1, 2009); and

c.          the sum of two million three hundred nineteen thousand dollars ($2,319,000.00) minus the aggregate amount of the Consulting Payments actually paid to Jacobs for the Consulting Period, less any applicable taxes and withholdings, to be paid to Jacobs in a lump sum on January 2, 2017.

d.          Jacobs acknowledges and agrees that Jacobs shall seek advance written approval from the Company prior to incurring any expenses for which he will seek reimbursement in connection with the consulting services rendered pursuant to this Agreement.

5.          Incentive Awards.  Unless this Agreement is terminated in accordance with Section 12 prior to the Employment Termination Time, and if Jacobs remains continuously employed until the Employment Termination Time, Jacobs shall receive any incentive awards under the Company’s existing incentive-based compensation programs and agreements through the 2016 fiscal year attributable to Jacobs, the amount of which incentive awards to be paid or issued to Jacobs to be based on achievement of the applicable performance goals for the applicable period for each such incentive award and subject to and consistent with the terms of the programs and agreements governing such incentive awards and their payment or issuance, consisting of: (i) short-term incentive programs, including (a) the 2016 Annual Incentive Compensation Program and (b) Dividend Equivalent Rights; and (ii) long-term incentive programs, including (a) performance-based restricted common stock and (b) performance units and for the avoidance of doubt including the Restricted Stock Agreement dated January 11, 2013 and the Performance Unit Agreement dated December 18, 2013 (collectively, the “Incentive Awards” ). Each of the Incentive Awards shall be paid to Jacobs at the same time when the applicable Incentive Awards are paid to other eligible employees of the Company.  Subject to the condition of continued employment through the Employment Termination Time, Jacobs will be entitled to the applicable Incentive Awards (including payment of award amounts, vesting of any awards or conversion of performance units) regardless of whether the underlying plan documents for any, or all, of such Awards requires the employee to be employed after the Employment Termination Time, any such provisions hereby being waived by the Company.  Subject to the foregoing sentence, Jacobs shall not be entitled to any bonus, benefits or other incentive-based compensation that may accrue after December 31, 2016.

6.          Clawback Policy. Any short- and long-term incentive compensation, or any other compensation, paid to Jacobs pursuant to this Agreement or any other agreement or arrangement with the Company which is subject to recovery under any law, government rule or regulation, stock exchange listing requirement or clawback policy of the Company in effect during the Consulting Period shall be subject to such deductions and clawback as may be required to be made pursuant to such law, government rule or regulation, stock exchange listing requirement or clawback policy of the Company in effect during the Consulting Period and applicable to any such compensation.

7.          Confidentiality.  At any time during the Consulting Period and thereafter, without the prior written consent of the Company, except to the extent required by an order of a court having jurisdiction or under subpoena from an appropriate government agency, in which event, Jacobs shall use Jacobs’ best efforts to consult with the Company prior to responding to any such order or subpoena, and except as required in the performance of Jacobs’ duties hereunder, Jacobs shall not disclose to, or use for the benefit of, any third party any confidential or proprietary information belonging to the Company.

8.          Non-Solicitation.  Jacobs agrees that from the Effective Date until twenty-four (24) months after the date of the expiration of the Consulting Period, Jacobs shall not directly or indirectly solicit, cause to be solicited, assist or otherwise be involved with the solicitation of, any employee, contractor or other person to terminate that person’s employment, contract or relationship with the Company.  Further, Jacobs agrees that from the Effective Date until twenty-four (24) months after the date of the expiration of the Consulting Period, Jacobs shall not, directly or indirectly, hire, recruit, solicit, or participate or assist any person or entity in hiring, recruiting or soliciting, any individual who was an employee or contractor of the Company at any time within the last twelve (12) months of Jacobs’ employment with the Company.

9.          Duty of Loyalty; Non-Disparagement.  Jacobs acknowledges that Jacobs is a fiduciary of the Company and owes a duty of loyalty to the Company during the Consulting Period to perform Jacobs’ duties and responsibilities under this Agreement in good faith and in the best interests of the Company and without personal economic conflict.  Jacobs promises and represents that from the Effective Date until the date that is twenty-four (24) months after the date of the expiration of the Consulting Period, Jacobs will not make or cause to be made any derogatory, negative or disparaging statements, either written or oral, about the Company, any of its current or former subsidiaries, or any of their respective current or former officers, directors or employees, in any manner that is or is reasonably likely to be harmful to one or more of them or the business, business reputation or personal reputation of one or more of them.  The Company agrees to instruct its officers and directors as of the Effective Date not to make or cause to be made any derogatory, negative or disparaging statements, either written or oral, about Jacobs in any manner that is or is reasonably likely to be harmful to him or his business or personal reputation.

10.          Mutual Release of Claims.

a.          Subject to the clawback policy set forth in Section 6 and except for the rights and obligations of each Party arising or provided for by this Agreement and any claims, demands, causes of action and liabilities arising out of this Agreement or the performance by a Party of, or the failure of a Party to perform, any of its covenants and obligations under this Agreement, each Party hereby irrevocably and unconditionally releases and forever discharges the other Party from any and all claims, demands, causes of action, and liabilities of any nature, both past and present, known and unknown, resulting from any act or omission of any kind occurring on or before the date of execution of this Agreement which arise under contract or common law, or any federal, state or local law, statute, code, rule, regulation or ordinance that the releasing Party has or may have against the other Party. The Parties understand and agree that each Party’s release of claims granted hereby includes, but is not limited to, the following: all claims, demands, causes of action and liabilities for past or future loss of pay or benefits, expenses, damages for pain and suffering, damages for physical or mental injury, damage to reputation, punitive damages, compensatory damages, attorney’s fees, interest, court costs, and damages for any other injury, loss, damage or expense and all equitable remedies of each and every kind whatsoever.

b.          Each Party affirms to the other Party that the affirming Party has not filed, caused to be filed, and/or is not presently a party to any claim, complaint, or action against the other Party in any forum or form.  As a material term of this Agreement, Jacobs attests that Jacobs has given Company written notice of any and all concerns Jacobs may have regarding suspected ethical or compliance issues or violations on the part of Company or any of Company’s directors, employees, agents, contractors or subcontractors. Subject to Section 5 of this Agreement,  any benefits to which Jacobs is entitled to under separate plan documents will be maintained and governed in accordance with the terms of those respective plans. Jacobs furthermore affirms that Jacobs has no known workplace injuries or occupational diseases.

c.          In addition, Jacobs affirms that Jacobs has been paid for and/or has received all compensation, wages, bonuses, commissions, and/or benefits to which Jacobs may be entitled to as of the Effective Date, except for normal payroll amounts associated with the period from July 1, 2016 through the Effective Date scheduled to be disbursed July 15, 2016, and other than the payments provided for in Section 4 of this Agreement and any Incentive Awards earned as provided for in Section 5 of this Agreement, Jacobs is not owed any further compensation from the Company.  Jacobs specifically releases and waives any rights he may have to that certain severance agreement dated December 9, 1999, as amended February 23, 2004, or any other agreement with the Company not specifically contemplated herein.  The Parties agree and acknowledge that the severance agreement dated December 9, 1999, as amended February 23, 2004, is hereby superseded by this Agreement and will have no other force and effect with respect to Jacobs.  Notwithstanding the foregoing, Jacobs is not waiving or releasing rights or benefits vested as of the date of this Agreement.

d.          Jacobs does not waive hereunder any rights or claims which cannot be waived by law, including, but not limited to the right to file a Charge with the Equal Employment Opportunity Commission (“EEOC”), or its local or state equivalent, file a complaint with the National Labor Relations Board (“NLRB”), or to participate in any agency investigation, although Jacobs does waive any right to monetary recovery should the EEOC, NLRB, or other local, state or federal administrative or governmental agency pursue claims against the Company on Jacobs’ behalf.

11.          Knowing and Voluntary.  Jacobs represents and certifies that Jacobs (1) has received a copy of this Agreement for review before signing; (2) has read this Agreement carefully; (3) has been given a fair opportunity to discuss and negotiate the terms of this Agreement; (4) understands its provisions; (5) has been advised to consult with an attorney; (6) has determined that it is in Jacobs’ best interest to enter into this Agreement; (7) has not been influenced to sign this Agreement by any statement or representation by Company not contained in this Agreement; and (8) enters into this Agreement knowingly and voluntarily.

12.          Early Termination.  If (1) Jacobs fails in any material respect to provide to the Company such consulting services as are reasonably requested by the Company during the Consulting Period and such failure continues for a period of 10 business days after notice to Jacobs from the Company, subject to reasonable delay as agreed to by both Jacobs and the Company or (2) Jacobs shall breach in any material respect any of his covenants in Section 7 through 9 of this Agreement, the Company may terminate the Consulting Period by giving three days’ prior written notice of such termination to Jacobs. Upon such a termination of the Consulting Period, Jacobs shall at the time of the termination of the Consulting Period cease to be an employee of the Company without the need for any further action on the part of the Company and the Company shall have no further obligations to Jacobs under Sections 4.a. and 4.b. of this Agreement or to make any payment or to pay or issue any Incentive Award to Jacobs pursuant to Section 5 (unless otherwise vested under the terms of the applicable Incentive Award(s) plan documents).  Further upon such termination of the Consulting Period, all other provisions of this Agreement will remain in full force and effect, including without limitation the obligations of Jacobs under Section 6 through 9 of this Agreement and the Company’s obligations under Section 4.c. of this Agreement.

Jacobs may terminate the Consulting Period at any time for any reason.  In the event of such a termination by Jacobs, Jacobs shall at the time of the termination of the Consulting Period cease to be an employee of the Company without the need for any further action on the part of the Company and the Company shall have no further obligations to Jacobs under Sections 4.a. and 4.b. of this Agreement or to make any payment or to pay or issue any Incentive Award to Jacobs pursuant to Section 5 (unless otherwise vested under the terms of the applicable Incentive Award(s) plan documents).  Further upon such termination of the Consulting Period by Jacobs, all other provisions of this Agreement will remain in full force and effect, including without limitation the obligations of Jacobs under Section 6 through 9 of this Agreement and the Company’s obligations under Section 4.c. of this Agreement.

13.          Reimbursement of Legal Costs.  The Company agrees to reimburse Jacobs for his reasonable legal costs (including reasonable attorney’s fees) incurred in connection with the negotiation and documentation of this Agreement.

14.          Choice of Law/Venue.  This Agreement shall be interpreted under and governed by, construed and enforced in accordance with, and subject to, the laws of the State of Texas, without giving effect to any principles of conflicts of law.  Any disputes between the Parties concerning Jacobs’ employment with the Company and/or this Agreement shall be settled exclusively in Dallas County, Texas. The Parties hereby waive all rights to a jury trial.

15.          Complete Agreement.  This Agreement contains the entire understanding between Jacobs and the Company concerning the subject matter of this Agreement, supersedes all prior agreements and understandings relating to the subject matter of this Agreement, and cannot be varied, contradicted or supplemented by evidence of any prior or contemporaneous oral or written agreements. This Agreement may not be amended, supplemented, or modified in any manner, except in writing signed by Jacobs and a duly authorized signatory of the Company.

IN WITNESS WHEREOF the parties have signed and delivered this Agreement as of the date first set forth above.

	 	
CAPSTEAD MORTGAGE CORPORATION

	 	 	 
	 	 	 
	 	
By:

	
/s/ JACK BIEGLER

	 	 	
Jack Biegler, Chairman of the Board

	 	 	 
	 	 	 
	 	
/s/ ANDREW F. JACOBS

	 	
Andrew F. Jacobs

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