Golf Trust of America, Inc. – Barry Siegel 747 Clarendon Road Penn Valley, PA 19072 Dear Barry: (November 10th, 2016)
This Resignation and Release Agreement ("Agreement") sets forth our agreement concerning your resignation of employment with Pernix Therapeutics Holdings, Inc. ("Pernix" or the "Company") and contains the terms of your separation. PLEASE READ THIS AGREEMENT CAREFULLLY. BY SIGNING THIS AGREEMENT, YOU ARE RELINQUISHING AND WAIVING IMPORTANT LEGAL RIGHTS. AS EXPLAINED IN THIS AGREEMENT, YOU HAVE TWENTY-ONE (21) CALENDAR DAYS TO REVIEW THIS AGREEMENT, ARE URGED TO REVIEW IT WITH COUNSEL OF YOUR CHOICE, AND HAVE SEVEN (7) CALENDAR DAYS TO REVOKE THIS AGREEMENT AFTER YOU SIGN IT ("REVOCATION PERIOD"), AFTER WHICH THE OBLIGATIONS BECOME FINAL AND BINDING.
Golf Trust of America, Inc. – May 9, 2016 John Sedor 218 Chester Road Devon, PA 19333 Dear John: (August 11th, 2016)
As you know, the Board of Directors of Pernix Therapeutics Holdings, Inc. (the "Company") has appointed you to be the Interim Chief Executive Officer (the "Interim CEO") of the Company effective May 9, 2016 (the "Effective Date"). As Interim CEO, you will report to the Board of Directors of the Company (the "Board") and have such duties, authority and responsibility as may be assigned to you by the Board and which are commensurate with such position.