SEC Contract Filing

Filing Date: 2019-08-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>7
<FILENAME>nt10003828x2_ex10-5.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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 <p style="text-align: right; font-weight: bold;" times="" new="" roman';="" margin:="" 0pt="" 0px'="">Exhibit 10.5&#160; </p>
 <p style="TEXT-ALIGN: right; FONT: bold 10pt " times="" new="" roman';="" margin:="" 0pt="" 0px'="">EXECUTION VERSION</p>
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 <p style="text-align: center; font-weight: bold;" times="" new="" roman';="" margin:="" 0pt="" 0px'="">&#160;EMPLOYMENT AGREEMENT</p>
 <p style="TEXT-ALIGN: justify; FONT: 10pt " times="" new="" roman';="" margin:="" 0pt="" 0px;="" text-indent:="" 0.5in'="">&#160;This EMPLOYMENT AGREEMENT (this &#8220;<b><i>Agreement</i></b>&#8221;), dated as of August 9, 2019, is entered into by and between Trinity Sub
 Inc., a Maryland corporation (the &#8220;<b><i>Company</i></b>&#8221;), and ____________, an individual (&#8220;<b><i>Employee</i></b>&#8221;).</p>
 <p style="text-align: center; font-weight: bold;" times="" new="" roman';="" margin:="" 0pt="" 0px'="">&#160;<u>RECITALS</u></p>
 <p style="text-align: justify; text-indent: 0.5in;" times="" new="" roman';="" margin:="" 0pt="" 0px;="" text-indent:="" 0.5in'="">&#160;<b>A.</b><b>&#160;&#160;&#160;&#160;&#160;&#160; </b>Pursuant to that certain Agreement and Plan of Merger (the &#8220;<b><i>Merger Agreement</i></b>&#8221;),
 dated as of August 9, 2019, by and among the Company, Trinity Merger Corp., a Delaware corporation, Trinity Merger Sub II, Inc., a Delaware corporation, Trinity Merger Sub, a Delaware limited liability company, PBRELF I, LLC, a Washington limited
 liability company, BRELF II, LLC, a Washington limited liability company, BRELF III, LLC, a Washington limited liability company, BRELF IV, LLC, a Washington limited liability company, Pyatt Broadmark Management, LLC, a Washington limited liability
 company, Broadmark Real Estate Management II, LLC, a Washington limited liability company, Broadmark Real Estate Management III, LLC, a Washington limited liability company, and Broadmark Real Estate Management IV, LLC, a Washington limited liability
 company, the Company will become the direct or indirect owner of various entities engaged in real estate activities; and</p>
 <p style="text-align: justify; text-indent: 0.5in;" times="" new="" roman';="" margin:="" 0pt="" 0px;="" text-indent:="" 0.5in'="">&#160;<b>B.</b><b>&#160;&#160;&#160;&#160;&#160;&#160; </b>Effective as of the Effective Time (as defined in the Merger Agreement) (the &#8220;<b><i>Effective Time</i></b>&#8221;),
 Employee wishes to accept employment with the Company upon the terms and conditions set forth in this Agreement.</p>
 <p style="text-align: center; font-weight: bold;" times="" new="" roman';="" margin:="" 0pt="" 0px'="">&#160;AGREEMENT</p>
 <p style="TEXT-ALIGN: justify; FONT: 10pt " times="" new="" roman';="" margin:="" 0pt="" 0px;="" text-indent:="" 0.5in'="">&#160;In consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency
 of which are hereby acknowledged, the parties hereto agree as follows:</p>
 <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in">&#160;<font times="" new="" roman';="" color:="" rgb(1,0,0)'=""><b>1.&#160;&#160;&#160;&#160;&#160;&#160; </b></font><font times="" new="" roman''=""><b>Employment.</b><font style="FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: normal; font-size-adjust: none; font-stretch: normal; font-feature-settings: normal; font-language-override: normal; font-kerning: auto; font-synthesis: weight style"> The Company shall employ Employee, and Employee accepts employment with the Company, upon the terms and conditions set forth in this Agreement. Employee&#8217;s term of employment hereunder shall commence at the Effective Time and continue until
 the third anniversary of the Effective Time (the &#8220;<b><i>Employment Period</i></b>&#8221;); provided that, unless earlier terminated, the Employment Period shall automatically renew on the third anniversary of the Effective Time and on each anniversary
 thereafter for a period of one (1) year unless either party shall give written notice of nonextension to the other party not later than sixty (60) days prior to the end of then-current Employment Period. The Company or Employee may terminate this
 Agreement and Employee&#8217;s employment at any time during the Employment Period as provided in Section 4 hereof. For the avoidance of doubt, if the Merger Agreement is terminated or the Effective Time does not occur for any reason, this Agreement
 shall be null and void.</font></font></p>
 <p style="margin: 0px 0px; text-align: justify;" times="" new="" roman';="" margin:="" 0pt="" 0px;="" text-indent:="" 0.5in'="">&#160;</p>
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 <p style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; FONT: 10pt Times New Roman,Times,serif; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0px"><font style="margin-bottom: 0pt; color: rgb(1,0,0); font: 10pt 'Times New Roman'; margin-top: 0pt; margin-right: 0px;"><b>2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;

 </b></font><font times="" new="" roman';="" color:="" rgb(1,0,0)'=""><b>Position and Duties.</b></font></p>
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