Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On January 27, 2020, Emergent Capital, Inc. ("Emergent" or the "Company"),
granted a bonus to Patrick J. Curry, the Company's Chief Executive Officer (the
"Bonus"), in recognition of his past and ongoing work for the Company. The Bonus
consists of: (i) $400,000 in cash, payable promptly after the grant, and
1,000,000 shares of restricted common stock of Emergent, vesting in thirds upon
the first three anniversaries of the grant date, (ii) up to $300,000 in cash, as
determined by the Compensation Committee (the "Compensation Committee") of
Emergent's Board of Directors (the "Board"), payable upon the consummation of
the Company's contemplated restructuring (the "Restructuring"), and (iii) up to
$300,000 in cash, as determined by the Compensation Committee, if the Company
effects the Restructuring at least $600,000 under the budget for such
Restructuring that is approved by the Board within 45 days of the date hereof,
measured as of 30 days after the date of the Restructuring.
On January 29, 2020, Jack Simony, the Company's Chief Investment Officer,
notified the Company of his resignation, effective on February 7, 2020. Also on
January 29, 2020, Imperial Finance and Trading, LLC, a wholly-owned subsidiary
of Emergent, and Mr. Simony entered into an amendment (the "Amendment") to the
Retention Agreement dated as of November 12, 2019 (the "Simony Retention
Agreement"). The Simony Retention Agreement provided for, among other things, a
retention payment to Simony by the Company in the amount of $1,000,000,
two-thirds of which has already been paid and the remaining one-third to be paid
within three (3) business days of the closing of the current restructuring under
consideration by the Company. Pursuant to the Amendment, the remaining one-third
of the retention payment is accelerated and will be paid within seven (7) days
of the date of the Amendment.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits EXHIBIT INDEX
Exhibit Description
No.
10.1 2010 Omnibus Incentive Plan Form Restricted Stock Award Agreement
10.2 Amendment dated January 29, 2020 to Retention Agreement between
Imperial Finance and Trading, LLC and Jack Simony
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EMERGENT CAPITAL, INC. 
