Elah Holdings Inc fka RELYQ (ELLH)

[Enterprising Investor]

Bouchard exit compensation (8/23/16)

Mr. Bouchard and the Company entered into a binding term sheet (the “Separation Term Sheet”), effective August 23, 2016, pursuant to which Mr. Bouchard will be entitled to receive cash payments totaling $2,000,000, as well as a pro rata bonus and certain welfare benefits, which payments and benefits include his entitlements under the Company’s Management Continuity Plan for Senior Officers. Fifty percent of Mr. Bouchard’s outstanding unvested restricted stock and restricted stock units will be forfeited, and the remaining fifty percent will remain outstanding and will be eligible to vest subject to achievement of the performance criteria set forth in the TSR Performance Award Agreement, dated as of February 25, 2016, and will be forfeited if the performance criteria are not met. Mr. Bouchard’s outstanding unvested performance shares and vested stock options will remain outstanding in accordance with the terms of the applicable agreements. Mr. Bouchard’s rights, and the Company’s obligations, under the Separation Term Sheet are subject to Mr. Bouchard executing and not revoking a release in favor of the Company on or prior to September 14, 2016. The foregoing summary of the Separation Term Sheet is qualified in its entirety by reference to the full text of the Separation Term Sheet, attached as Exhibit 10.1, and incorporated herein by reference.

https://www.sec.gov/Archives/edgar/data/38984/000156459016024632/rely-ex101_6.htm