Document:

Employment Agreement with Paul A. Siegert

 Exhibit 10.13 
 Employment Agreement 
 This Agreement is effective June 1, 2011
by and between GWG Life Settlement, LLC a Delaware limited liability corporation and GWG Holdings, Inc., hereinafter collectively called (“Employer”) and Paul Siegert, an individual (hereinafter called “Employee”). 

Whereas the Employer is desirous of employing the Employee as its President; and whereas, the Employee is desirous of accepting this
position with the Employer. 
 Now, therefore, in consideration of the mutual promises stated in this Agreement and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Employer and the Employee hereby agree as follows: 
  

	 	1.	Term. The term of employment shall be one year and shall automatically renew for one year periods unless terminated prior to such renewal by the Board of
Directors. 

  

	 	2.	Duties. Employee duties shall be to generally lead and direct the activities of the business and to undertake duties or as otherwise directed by the Board of
Directors or CEO. Hours of work shall be as necessary to full fill assigned duties. 

  

	 	3.	Salary. The Employer shall pay the Employee an annual salary of $150,000.00, payable periodically in accordance with the Employer’s normal compensation
schedules. The Employee’s salary shall be reviewed by the Board of Directors from time-to-time as appropriate. 

  

	 	4.	Incentive Compensation. The Employer shall pay the Employee an annual incentive compensation bonus, in the form of cash and stock options of the Employer in
addition to Salary based upon the performance of the Employee. The Employee’s incentive compensation shall be determined by the Board of Directors as appropriate. 

 

	 	5.	Deductions. The Employer shall deduct from compensation payable to the Employee such amounts as is required by law to deduct, including but not limited to
federal and state withholding taxes, social security taxes and state disability insurance, and any other amounts as may be required pursuant to the Employer’s benefit programs of which the Employee is a participant. 

 

	 	6.	Expenses. The Employer shall reimburse the Employee for all appropriate and reasonable business expenses incurred by the Employee in performing the
Employee’s duties. Such expenses shall include all legal expenses of the Employee for any liability or alleged liability related to the Employer incurred during the scope of employment with the Employer. 

 

	 	7.	 Paid Time Off. The Employee will be eligible for seven weeks Paid Time Off annually. Paid Time Off may be used for vacation, illness, personal
days, or other 

  
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reasons. Please refer to the Company Handbook for a detailed explanation. The Employee shall also be entitled to paid holidays. 

 

	 	8.	Health Benefits. The Employer offers health insurance options to both the Employee and the Employee’s dependents under its comprehensive benefits Program.

  

	 	9.	Flexible Spending Account Benefits. The Employee will be eligible for enrollment in the Company Flexible Spending Account (FSA) in accordance with terms of the
FSA. 

  

	 	10.	Retirement Benefits and Severance Package. The Employee will be eligible for enrollment in the Company 401K/Roth 401K and 529 College Savings Account the first
of the month. Currently, the Company retirement plans do not include any Employer Match or Discretionary Contributions. The Employer agrees to match contributions of the Employee. In addition, the Employer agrees to provide the Employ with a
severance package to be determined by the Board of Directors. 

  

	 	11.	Notices. Any notice required or provided to be given under this Agreement shall be sufficient if in writing, sent by first class mail, to the Employee’s
residence in the case of notice to the Employee or to its principal office in the case of the Employer. 

  

	 	12.	Consent to Background Check. The Employee acknowledges the Employer is engaged in the financial services business and therefore must check the background
information on all Employees and contractors.  

  

	 	13.	Company Policy. The Employee acknowledges and agrees to adhere to by signing the Employee Confidentiality Agreement, Privacy Policy, and Acknowledgement of
Receipt and Understanding of the Employee Handbook. The Employee acknowledges that the Employer reserves the right to modify or amend its policies at any time to protect confidential information of customers, the business, and vendors.

  

	 	14.	Waiver of Breach. The waiver by either party of a breach of any provision of this Agreement by the other party shall not operate or be construed as a waiver of
any subsequent breach by such other party. 

  

	 	15.	Governing Law. This Agreement shall be interpreted and enforced in accordance with the laws of the State of Minnesota, and any action brought to enforce any
provision of this Agreement or to commence any other action in connection therewith shall have its venue in Hennepin County of Minnesota. 

  

	 	16.	 Anti-Solicitation. Within eighteen (18) months after voluntary or involuntary employment termination, Employee shall not, within the
Territories, directly or indirectly solicit, divert, service, accept or otherwise attempt to convert policies or other business provided by Employer from or with respect to (i) customers of Employer who were serviced by the Employee during
employment or with whom 

  
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Employee has had direct contact during employment; or (ii) customers of Employer’s Affiliates who were serviced by Employee during employment. 

 

	 	17.	Non-Compete. Except as specifically authorized by the Employer in writing, the Employee warrants, covenants and represents to the Employer that during the term
of this Agreement and for a period of one year after termination, they/he/she/it shall not use the Confidential Information, directly or indirectly, to the Employee’s own benefit or for the benefit of any affiliate, subsidiary, employer or
related party of the Employee, or any other third party. Further, except as specifically authorized by the Employer in writing, the Employee specifically covenants, warrants and represents to the Company, its successors and/or assigns, the Employee
will not for a period of one year after termination, directly or indirectly, compete with the Company, it successors or assigns in its business wherever located. This Section 17 shall survive termination of this Agreement.

  

	 	18.	Blue Pencil. Should any court or tribunal declare the foregoing covenants to be unreasonable or void for any reason, the duration or scope of the covenant shall
be modified to such duration and scope as to not be unreasonable, arbitrary or against public policy, and to be the maximum restrictions allowed under Minnesota Law. Employee acknowledges and agrees that the covenants in Sections 16 and 17 are
reasonable and valid in geographical and temporal scope and in all other respects. If any court determines that any of the covenants in Sections 16 and 17, or any part thereof, is invalid or unenforceable, the reminder of the covenants shall not
thereby be affected and shall be give full effect, without regard to the invalid portions. Further, if any court determines that any of the covenants of Sections 16 and 17, or any parts thereof, are unenforceable because of the duration or
geographic scope of such provision, such court shall reduce the duration or scope of such provision, as the case may be, to the extent necessary to render it enforceable and, in its reduced form, such provision shall then be enforced.

  

	 	19.	Partial Invalidity. If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining
provisions shall nevertheless continue in full force without being impaired or invalidated in any way. 

  

	 	20.	Modification. This Agreement shall be modified only by writing, executed by both the Employee and the Employer. 

  
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 [SIGNATURE PAGE] 
 In witness of this, the parties have executed this Employment Agreement as of the day and year first above written. 
  

									
	Company	  		  	Employee
					
	By:	  	/s/ Lisa Dahlager	  		  	By:	  	/s/ Paul A. Siegert
	Title:	  	HR Manager	  		  	Name:	  	Paul A. Siegert

  
 4First Amendment to Credit Agreement

 Exhibit 10.1 
 FIRST AMENDMENT 
 TO CREDIT AGREEMENT 

This First Amendment to Credit Agreement (this “Amendment”) is entered into as of September 14, 2011, by and among
the Lenders identified on the signature pages hereof (such Lenders, together with their respective successors and permitted assigns, are referred to hereinafter each individually as a “Lender” and collectively as the
“Lenders”), BMO Harris Bank N.A., formerly known as Harris N.A., as administrative agent for the Lenders (in such capacity, “Agent”), and Cobra Electronics Corporation, a Delaware corporation
(“Borrower”). 
 WHEREAS, Borrower, Agent, and the Lenders are parties to that certain Credit Agreement dated
as of July 16, 2010 (as amended, modified or supplemented from time to time, the “Credit Agreement”); and 

WHEREAS, Borrower has requested that Agent and the Lenders agree to amend and modify the Credit Agreement as provided herein, subject to
the terms and conditions contained herein. 
 NOW THEREFORE, in consideration of the premises and mutual agreements herein
contained, the parties hereto agree as follows: 
 1. Defined Terms. Unless otherwise defined herein, capitalized terms
used herein shall have the meanings ascribed to such terms in the Credit Agreement. 
 2. Amendments to Credit Agreement.
Subject to the satisfaction of the conditions set forth in Section 5 below and in reliance upon the representations and warranties of Borrower set forth in Section 6 below, the Credit Agreement is amended as follows:

 (a) Annex I of the Credit Agreement is hereby amended to add the following defined term in appropriate alphabetical order as
follows: 
 “First Amendment Effective Date” means September 14, 2011. 

(b) The last sentence of the defined term “Revolving Credit Commitment” set forth in Annex I of the Credit Agreement is hereby
amended and restated in its entirety as follows: 
 “Borrower and the Lenders acknowledge and agree that
the Revolving Credit Commitments of the Lenders aggregate $30,000,000 on the First Amendment Effective Date.” 
 (c)
Schedule 1 to the Credit Agreement is hereby amended and restated in its entirety as set forth on Exhibit A hereto. 
 3. Continuing Effect. Except as expressly set forth in Section 2 of this Amendment, nothing in this Amendment shall constitute a modification or alteration of the terms, conditions or
covenants of the Credit Agreement or any other Loan Document or a 

 
waiver of any other terms or provisions thereof, and the Credit Agreement and the other Loan Documents shall remain unchanged and shall continue in full force and effect, in each case as amended
hereby. 
 4. Reaffirmation and Confirmation. Borrower hereby ratifies, affirms, acknowledges and agrees that the Credit
Agreement and the other Loan Documents, in each case as amended hereby, represent the valid, enforceable and collectible obligations of Borrower, and further acknowledges that there are no existing claims, defenses, personal or otherwise, or rights
of setoff whatsoever with respect to the Credit Agreement or any other Loan Document. Borrower hereby agrees that this Amendment in no way acts as a release or relinquishment of the Liens and rights securing payments of its Obligations. The Liens
and rights securing payment of its Obligations are hereby ratified and confirmed by Borrower in all respects. 
 5.
Conditions to Effectiveness. This Amendment shall become effective as of the date hereof and upon the satisfaction of the following conditions precedent: 
 (a) Each party hereto shall have executed and delivered this Amendment to Agent; 

(b) Agent shall have received from Borrower for each Lender a duly executed Amended and Restated Revolving Note dated the date hereof and
each in form and substance satisfactory to Agent (the “Amended and Restated Notes”); 
 (c) Agent shall have
received a fully and manually executed First Amendment to Real Property Mortgage with respect to the real Property located at 6500 W. Cortland Avenue, Chicago, Illinois 60607, in form and substance satisfactory to Agent (the “Mortgage
Amendment”); 
 (d) Agent shall have received a copy of resolutions of Borrower’s board of directors (or analogous
governing board) authorizing the execution, delivery and performance of this Amendment, the Amended and Restated Notes and the Mortgage Amendment, in form and substance satisfactory to Agent; 

(e) Agent shall have received for each Lender the favorable written opinions of counsel to Borrower, in form and substance satisfactory
to Agent; 
 (f) Borrower shall have paid to Agent, for the pro rata benefit of the Lenders, an amendment fee equal to $25,000;
and 
 (g) No Default or Event of Default shall have occurred and be continuing on the date hereof or as of the date of the
effectiveness of this Amendment. 
 6. Representations and Warranties. In order to induce Agent and the Lenders to enter
into this Amendment, Borrower hereby represents and warrants to Agent and Lenders, after giving effect to this Amendment: 
 (a)
All representations and warranties contained in the Credit Agreement and the other Loan Documents are true and correct on and as of the date of this Amendment, in each case as if then made, other than representations and warranties that expressly
relate solely to an earlier date (in which case such representations and warranties were true and correct on and as of such earlier date); 

  
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 (b) No Default or Event of Default has occurred and is continuing; 

(c) This Amendment constitutes a legal, valid and binding obligation of Borrower and is enforceable against Borrower in accordance with
its respective terms. 
 7. Miscellaneous. 
 (a) Expenses. Borrower agrees to pay on demand all costs and expenses of Agent (including the reasonable fees and expenses of outside counsel for Agent) in connection with the preparation,
negotiation, execution, delivery and administration of this Amendment and all other instruments or documents provided for herein or delivered or to be delivered hereunder or in connection herewith. All obligations provided herein shall survive any
termination of this Amendment and the Credit Agreement as amended hereby. 
 (b) Governing Law. This Amendment shall be a
contract made under and governed by the internal laws of the State of Illinois. 
 (c) Counterparts. This Amendment may
be executed in any number of counterparts, and by the parties hereto on the same or separate counterparts, and each such counterpart, when executed and delivered, shall be deemed to be an original, but all such counterparts shall together constitute
but one and the same Amendment. 
 8. Release. 
 (a) In consideration of the agreements of Agent and Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Borrower, on behalf
of itself and its successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably releases, remises and forever discharges Agent and the Lenders, and their successors and assigns, and their present and former
shareholders, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents and other representatives (Agent, each Lender and all such other Persons being hereinafter referred to collectively as the
“Releasees” and individually as a “Releasee”), of and from all demands, actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of money, accounts, bills, reckonings,
damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities whatsoever (individually, a “Claim” and collectively, “Claims”) of every name and nature, known or unknown,
suspected or unsuspected, both at law and in equity, which Borrower or any of its respective successors, assigns, or other legal representatives may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or
by reason of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to the day and date of this Amendment, including, 

  
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without limitation, for or on account of, or in relation to, or in any way in connection with any of the Credit Agreement, or any of the other Loan Documents or transactions thereunder or related
thereto, other than to the extent of those Claims which arise from the gross negligence or willful misconduct of the applicable Releasee as determined in a final, non-appealable judgment by a court of competent jurisdiction. 

(b) Borrower understands, acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense and may
be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release. 
 (c) Borrower agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final, absolute and
unconditional nature of the release set forth above. 

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

			
	COBRA ELECTRONICS CORPORATION
		
	By:	 	 /s/ Robert J. Ben

	Name:	 	 Robert J. Ben

	Title:	 	 Senior Vice-President and CFO

	
	BMO HARRIS BANK N.A., formerly known as Harris N.A., in its individual capacity as a Lender and as Agent
		
	By:	 	 /s/ William J. Kennedy

	Name:	 	 William J. Kennedy

	Title:	 	 Vice President

	
	FIFTH THIRD BANK, in its individual capacity as a Lender
		
	By:	 	 /s/ Herbert M. Kidd II

	Name	 	 Herbert M. Kidd II

	Title	 	 Vice President

 Signature Page to First Amendment to Credit Agreement 

 EXHIBIT A 

SCHEDULE 1 

COMMITMENTS 
  

					
	 NAME OF LENDER
	  	REVOLVING CREDIT COMMITMENT	 
		
	 BMO Harris Bank N.A., formerly known as Harris N.A.
	  	$	18,000,000	  
		
	 Fifth Third Bank
	  	$	12,000,000	  
		  	  
	  
	 
		
	 TOTAL
	  	$	30,000,000

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