<SEC-DOCUMENT>0000950142-14-002339.txt : 20141126
<SEC-HEADER>0000950142-14-002339.hdr.sgml : 20141126
<ACCEPTANCE-DATETIME>20141126165641
ACCESSION NUMBER:		0000950142-14-002339
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20141125
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20141126
DATE AS OF CHANGE:		20141126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HARBINGER GROUP INC.
		CENTRAL INDEX KEY:			0000109177
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				741339132
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04219
		FILM NUMBER:		141254298

	BUSINESS ADDRESS:	
		STREET 1:		450 PARK AVENUE
		STREET 2:		30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-906-8548

	MAIL ADDRESS:	
		STREET 1:		450 PARK AVENUE
		STREET 2:		30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZAPATA CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZAPATA NORNESS INC
		DATE OF NAME CHANGE:	19720314

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZAPATA OFF SHORE CO
		DATE OF NAME CHANGE:	19690115
</SEC-HEADER>
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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported): <font style="DISPLAY: inline; FONT-WEIGHT: bold">November 25, 2014</font></font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 5.02.&#160;&#160;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Incorporated from Item 8.01 with respect to the resignation of Philip A. Falcone as the registrant&#8217;s Chief Executive Officer and Chairman of the board of directors (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Board</font>&#8221;), and the resignation of Keith M. Hladek as director, each effective December 1, 2014.</font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 8.01 Other Information.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On November 25, 2014, Harbinger Group Inc. (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">HGI</font>&#8221; or the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;) announced that Mr. Falcone, Chief Executive Officer of the Company and Chairman of the Board, effective December 1, 2014, has resigned from his positions with the Company. Joseph S. Steinberg, an independent member of the Board, will become nonexecutive Chairman of the Board effective December 1, 2014.&#160;&#160;The Company&#8217;s senior management team, led by its President, Omar Asali, will work with the Board to ensure a smooth transition and to continue to execute on the Company&#8217;s existing business strategy.&#160;&#160;HGI will name a Chief Executive Officer upon the completion of a search process.</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mr. Steinberg is the Chairman of the Board of Directors of Leucadia National Corporation (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Leucadia</font>&#8221;). He has served as a director of Leucadia since December 1978 and as President from January 1979 until March 1, 2013, when he became Chairman of the Leucadia board. Mr. Steinberg has served as Chairman of the Board of Directors of HomeFed Corporation since 1999 and as a HomeFed director since 1998. Mr. Steinberg serves on the board of directors of Crimson Wine Group, Ltd. Mr. Steinberg has managerial and investing experience in a broad range of businesses through his many years as President and a director of Leucadia and its affiliates.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On November 25, 2014, Keith M. Hladek resigned from the Board effective December 1, 2014.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In connection with Mr. Falcone&#8217;s resignation, on November 25, 2014, the Company and Mr. Falcone entered into a Separation and General Release Agreement (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Separation Agreement</font>&#8221;) that, among other things, provides Mr. Falcone, in exchange for signing a general release of claims in favor of the Company and agreeing to various restrictive covenants, including covenants relating to non-competition, non-solicitation, non-disparagement, confidentiality, and cooperation, with (i) a lump sum separation payment consisting of (x) $20,500,000 as a one-time payment, (y) $16,500,000 in respect of Mr. Falcone&#8217;s previously awarded fiscal year 2014 annual bonus and (z) $3,300,000 in respect of Mr. Falcone&#8217;s pro-rata bonus for fiscal year 2015 for service through December 1, 2014 based on anticipated results; and (ii) the continued vesting of warrants to purchase up to 3,000,000 shares of the Company&#8217;s common stock previously granted to Mr. Falcone under the Harbinger Group Inc. 2014 Warrant Plan and Warrant Agreement, dated March 10, 2014, as if Mr. Falcone remained employed with the Company through each applicable vesting date.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, the Separation Agreement provides that if certain terms and conditions are satisfied then, from the date on which such terms and conditions are satisfied until November 25, 2015, the Company shall use its commercially reasonable efforts to sell its shares of HC2 Holdings, Inc.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In connection with the foregoing, it is anticipated that the Company will, after a period of transition, cease receiving and providing services to Harbinger Capital Partners LLC (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">HCP</font>&#8221; and together with the Company, the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Parties</font>&#8221;) pursuant to the terms of an existing Services Agreement, by and between the Company and HCP, dated November 14, 2012 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Services Agreement</font>&#8221;). Accordingly, on November 25, 2014, the Company and HCP entered into an amendment (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment</font>&#8221;) to that Services Agreement providing for, among other things, that (i) the Parties may terminate the Services Agreement upon 90 days advance written notice to the other Party, (ii) the Parties must provide cooperation in connection with the transferring of services provided under the Services Agreement and (iii) HCP shall return the Company&#8217;s property upon termination of the Services Agreement.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A Special Committee of independent members of the Board, advised by outside legal counsel and other advisors, reviewed, negotiated and recommended for approval to the Board the foregoing matters (including the Separation Agreement and the Amendment), which were then approved by the Board.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>eh1401298_ex1001.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div style="TEXT-ALIGN: right; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-WEIGHT: bold">EXHIBIT 10.1</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Separation and General Release Agreement</font></font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">This Separation and General Release Agreement (this &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Agreement</font>&#8221;) is made as of this 25th<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>day of November, 2014, by and between Harbinger Group Inc., a Delaware corporation (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;) and Philip A. Falcone (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive</font>,&#8221; and together with the Company, the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Parties</font>&#8221;).</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, Executive is employed by the Company as its Chairman and Chief Executive Officer;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, by agreement of the Parties, Executive&#8217;s employment with the Company will terminate (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Separation</font>&#8221;) effective as of December 1, 2014 (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Separation Date</font>&#8221;); and</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, the Parties desire to enter into this Agreement in order to set forth the definitive rights and obligations of the Parties in connection with the Separation.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">NOW</font>, <font style="DISPLAY: inline; FONT-WEIGHT: bold">THEREFORE</font>, in consideration of the mutual covenants, commitments and agreements contained herein, and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Parties intending to be legally bound hereby agree as follows:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Acknowledgment of Separation</font><font style="DISPLAY: inline">.&#160;&#160;The Parties acknowledge and agree that the Separation is effective as of the Separation Date.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Resignation of Office</font><font style="DISPLAY: inline">.&#160;&#160;Effective as of the Separation Date, Executive hereby resigns any and all positions he holds with the Company, including, without limitation, as Chief Executive Officer of the Company, Chairman of the Company&#8217;s Board of Directors (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Board</font><font style="DISPLAY: inline">&#8221;), and from any and all other offices Executive holds with the Company and any of its direct and indirect subsidiaries and affiliates, including as a member of the board of directors of such entities; </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font><font style="DISPLAY: inline">, </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font><font style="DISPLAY: inline">, that the foregoing shall not apply with respect to any positions Executive holds with HC2 Holdings, Inc. (&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">HC2</font><font style="DISPLAY: inline">&#8221;), and any of its subsidiaries and any other entity which is an affiliate of HC2 by reason of the direct or indirect ownership of equity securities by HC2 but excluding the Company Group (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">HC2 Group</font><font style="DISPLAY: inline">&#8221;) or with Harbinger Capital Partners, LLC (&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">HCP</font><font style="DISPLAY: inline">&#8221;).</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Executive&#8217;s Acknowledgment of Consideration</font><font style="DISPLAY: inline">.&#160;&#160;Executive specifically acknowledges and agrees that the obligations created and payments made to him by the Company under this Agreement fully compromise and settle any and all Claims (as defined below) Executive could assert against the Company, including, without limitation, any Claims under any applicable severance plans or policies.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Payments Upon and After the Separation;&#160;&#160;Other Benefits</font><font style="DISPLAY: inline">.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Final Pay</font><font style="DISPLAY: inline">.&#160;&#160;On the next regular payroll date following the Separation Date, Executive will receive a lump sum payment in respect of all earned but unpaid base salary and accrued but unused vacation, minus applicable federal, state and local tax withholdings in accordance with Executive&#8217;s Form W-4 on file with the Company, for services performed for the </font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline">Company through and including the Separation Date (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Final Pay</font><font style="DISPLAY: inline">&#8221;).&#160;&#160;The Company shall issue Executive a Form W-2 for calendar year 2014 as soon as practicable following the payment of the Final Pay and the cash separation payment referenced in </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4(c)(i)</font><font style="DISPLAY: inline">, but in no event later than December 31, 2014.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Continuing Indemnification of Executive</font><font style="DISPLAY: inline">.&#160;&#160;As a former officer and director of the Company, Executive will remain entitled to indemnification rights and benefits no less favorable than those provided from time to time to other officers and directors of the Company (the&#160;&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Continuing Indemnification</font><font style="DISPLAY: inline">&#8221;); </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font><font style="DISPLAY: inline">, </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font><font style="DISPLAY: inline">, that the foregoing rights and benefits shall not apply with respect to Executive&#8217;s activities with the HC2 Group or HCP.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Separation Benefits</font><font style="DISPLAY: inline">.&#160;&#160;Beginning on or about the Separation Date, subject to the conditions set forth in this </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4(c)</font><font style="DISPLAY: inline"> and Executive&#8217;s execution and delivery of this Agreement to the Company and Executive&#8217;s continued performance under this Agreement, Executive will be entitled to receive the following separation benefits (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Separation Benefits</font><font style="DISPLAY: inline">&#8221;).&#160;&#160;The payment or provision of such Separation Benefits by the Company will not represent any admission or concession by the Company that such benefits are owed to Executive under any agreement or obligation that might be asserted by or on behalf of Executive</font><font style="DISPLAY: inline">.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Payments on Separation.</font><font style="DISPLAY: inline">&#160;</font><font style="DISPLAY: inline">As soon as practicable, but in no event later than 10 days, following the Separation Date, the Company shall pay to Executive a lump sum payment consisting of (x)&#160;&#160;a separation payment equal to $20,500,000, (y) $16,500,000 in respect of Executive&#8217;s previously earned and awarded fiscal year 2014 annual bonus and (z) a pro-rata bonus for fiscal year 2015 equal to $3,300,000 for service through the Separation Date based on anticipated results, minus applicable federal, state and local tax withholdings in accordance with Executive&#8217;s Form W-4 on file with the Company.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Warrants</font><font style="DISPLAY: inline">.&#160;&#160;The warrants granted to Executive pursuant to the Harbinger Group Inc. 2014 Warrant Plan (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Warrant Plan</font><font style="DISPLAY: inline">&#8221;) and Warrant Agreement, dated March 10, 2014, between the Company and Executive (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Warrant Agreement</font><font style="DISPLAY: inline">&#8221;) shall remain outstanding and continue to vest in accordance with, and subject to the terms and conditions set forth in Section 1A(iii) of the Warrant Agreement. Except as expressly provided in the immediately preceding sentence, all other terms and conditions of the Warrant Agreement and Warrant Plan shall remain in effect.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Exclusivity of Benefits</font><font style="DISPLAY: inline">.&#160;&#160;Executive agrees that the Final Pay, the Continuing Indemnification, and the Separation Benefits described in </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4(a)&#8211;(c)</font><font style="DISPLAY: inline"> constitute Executive&#8217;s sole and exclusive benefits following his Separation.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Restrictive Covenants</font><font style="DISPLAY: inline">.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Confidential Information</font><font style="DISPLAY: inline">.&#160;&#160;Executive acknowledges that during the course of his employment with the Company, Executive has learned or otherwise obtained Confidential Information (as defined below) regarding the Company and the Company&#8217;s subsidiaries and affiliates, but expressly excluding the HC2 Group and HCP (such entities excluding the HC2 Group and HCP collectively, the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Company Group</font><font style="DISPLAY: inline">&#8221;).&#160;&#160;Executive hereby agrees that he shall not, at any time prior to or following the Separation Date, directly or indirectly, copy, disclose, </font></font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline">utilize, exploit, or make available to any other person or entity any Confidential Information of any member of the Company Group, and shall not use any such Confidential Information for his own personal use or advantage or the use or advantage of any other person or entity, or make any such Confidential Information available to any other person or entity in any way.&#160;&#160;&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Confidential Information</font><font style="DISPLAY: inline">&#8221; includes all confidential information, proprietary information, trade secrets, and other non-public information (whether oral or written) regarding the business or affairs of any member of the Company Group, including, without limitation, information relating to any member of the Company Group&#8217;s products, services, systems, designs, inventions, research, finances (including prices, costs, fees, and revenues), marketing plans, sales, sales strategies, sales relationships, prospects, pricing strategies, trading, trading strategies, trading methodologies, portfolio management strategies, programs, methods of operation, prospective and existing contracts, business arrangements, business plans, business procedures, business strategies, databases, personnel, personal information, financial models, potential transactions, pending negotiations, computer programs, algorithms, pending patent applications, systems, contractual negotiations, terms of agreements, client lists, investor lists, lists of prospective clients or investors, financial results, business developments, internal controls, risk management, and security procedures.&#160;&#160;Confidential Information also includes the performance track record of the Company Group, as well as all components thereof (including but not limited to all strategies, sub-strategies, instruments, results, rates of returns, and other elements of overall performance), which is the sole property of the Company Group.&#160;&#160;The foregoing is not an exhaustive list and Confidential Information also may include, without limitation, any other information, documents, or materials that may be identified as confidential or proprietary, or which would otherwise appear to a reasonable person, in the context in which the information, documents, or materials were received, provided, or learned, to be confidential. Notwithstanding the immediately preceding provisions of this </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5</font><font style="DISPLAY: inline">, nothing in this Agreement (including this </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5</font><font style="DISPLAY: inline">) shall preclude Executive from using information belonging to, and relating to the business affairs and operations of, the HC2 Group or HCP, in either case in connection with the performance of his duties in any capacity by or on behalf of either the HC2 Group or HCP.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Non-Competition</font><font style="DISPLAY: inline">.&#160;&#160;For a period of twelve (12) months following the Separation Date, Executive agrees that Executive shall not, directly or indirectly, whether by Executive, through an affiliate or in partnership or conjunction with, or as an employee, officer, director, manager, member, owner, consultant or agent of, any other person, engage, directly or indirectly, in activities or businesses (including without limitation by owning any interest in, managing, controlling, participating in, consulting with, advising, rendering services for, or in any manner engaging in the business of owning, operating or managing any business) within the United States (including its territories or possessions), and/or other territories (in which the Company Group conducts business or has undertaken significant efforts as part of a plan to conduct business as of the Separation Date) that competes or will compete in the United States and/or such other territories with the Company Group or any business that acquires all or substantially all of the assets of, or is otherwise a successor to, the Company Group or any member thereof; </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font><font style="DISPLAY: inline">, </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font><font style="DISPLAY: inline">, that the foregoing shall not limit Executive&#8217;s ability (i) to fulfill his duties with respect to, or own securities of, or other have ownership interests in, any member of the HC2 Group or HCP or (ii) own securities representing less than a 2% beneficial ownership interest in a publicly traded entity.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Non-Solicitation</font><font style="DISPLAY: inline">.&#160;&#160;For a period of twenty-four (24) months following the Separation Date (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Restricted Period</font><font style="DISPLAY: inline">&#8221;), Executive shall not, directly or indirectly (i) recruit, solicit, hire, retain, or contract with, or assist any other person or entity to recruit, solicit, hire, retain, or contract with, any individual who was a member, partner, employee, agent, or representative of the Company Group on the date of execution of this Agreement, or any individual who is a member, partner, employee, agent, or representative of the Company Group on the date of such recruitment, solicitation, hire, contract, or retention; (ii) interfere in any way with the relationship between the Company Group and (A) any individual who was a member, partner, employee, agent, or representative of the Company Group on the date of execution of this Agreement, or (B) any individual who is a member, partner, employee, agent, or representative of the Company Group on the date of such interference; (iii) solicit, present to, share private placement or marketing materials with, or accept business or investment from any person or entity that is an investor or client of the Company Group as of the date of this Agreement; or (iv) interfere, or attempt to interfere, with the relationship between the Company Group and any of its investors or clients.&#160;&#160;Notwithstanding the immediately preceding provisions of this </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5(c)</font><font style="DISPLAY: inline">, Executive shall in no event be deemed to be in violation of this </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5(c)</font><font style="DISPLAY: inline"> by reason of his (or his assisting any member of the HC2 Group or HCP in) recruiting, soliciting, hiring, or retaining (i) any person who as of the date hereof is an employee of both (x) the Company Group and either (y) the HC2 Group or HCP, (ii) any person who terminates employment with the Company Group if such termination is not due to any violation of the restrictions in this </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5(c)</font><font style="DISPLAY: inline"> or (iii) the person(s) who have been serving as his administrative assistant(s).</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline">Executive agrees that through and following the Separation Date, Executive will not, whether in private or in public, whether directly or indirectly, make, publish, encourage, ratify, or authorize, or assist any other person or entity in making or publishing, any statements that in any way defame, criticize, malign, impugn, or disparage any member of the Company Group, including its current and former officers, directors or employees.&#160;&#160;Executive also agrees that he will not publicly comment on or discuss any member of the Company Group with any media source or outlet (whether negatively or otherwise), including but not limited to any reporters, bloggers, weblogs, websites, newspapers, magazines, television stations or productions, radio stations, news organizations, news outlets, or publications, or in any movie, book, or theatrical production, nor will Executive publicize any material related to any member of the Company Group, including its current and former officers, directors or employees.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline">The Company agrees that through and following the Separation Date, the Company will take reasonable efforts to ensure that its directors and officers do not, whether in private or in public, whether directly or indirectly, make, publish, encourage, ratify, or authorize, or assist any other person or entity in making or publishing, any statements that in any way defame, criticize, malign, impugn, or disparage Executive or HCP.&#160;&#160;The Company also agrees that it will take reasonable efforts to ensure that its directors and officers will not publicly comment on or discuss Executive or HCP, including but not limited to any reporters, bloggers, weblogs, websites, newspapers, magazines, television stations or productions, radio stations, news organizations, news outlets, or publications, or in any movie, book, or theatrical production, nor will such persons publicize any material related to Executive.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Remedy for Breach</font><font style="DISPLAY: inline">.&#160;&#160;Executive hereby acknowledges that the provisions of </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Sections 5(a)-(d)</font><font style="DISPLAY: inline"> of this Agreement are reasonable and necessary for the protection of the Company Group and are of the essence to this Agreement.&#160;&#160;Executive further acknowledges that the Company Group will be irreparably harmed if such covenants are not specifically enforced.&#160;&#160;Accordingly, Executive agrees that in addition to any other relief to which the Company Group may be entitled, the Company Group shall be entitled to obtain injunctive relief (without the requirement of posting a bond) from a court of competent jurisdiction for the purpose of restraining Executive from an actual or threatened breach of such covenants.&#160;&#160;Executive hereby irrevocably consents to the jurisdiction of the federal and state courts in New York, New York for the issuance of such an injunction, and waive any objection to such venue.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Judicial Modification</font><font style="DISPLAY: inline">.&#160;&#160;If any court of competent jurisdiction shall deem any provision in this </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5</font><font style="DISPLAY: inline"> too restrictive, the other provisions shall stand, and the court shall modify the unduly restrictive provision to the point of greatest restriction permissible by applicable law.</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Standstill</font><font style="DISPLAY: inline">.&#160;&#160;&#160;Executive agrees that, during the Restricted Period, without the approval of a majority of the members of the Board, </font><font style="DISPLAY: inline">Executive will not and will </font><font style="DISPLAY: inline">cause his Affiliates or any persons with whom </font><font style="DISPLAY: inline">any of the foregoing has </font><font style="DISPLAY: inline">formed a &#8220;group&#8221; (within the meaning of Section 13(d)(3) of the Exchange Act) (in each case, including any applicable successors and assigns) not to (together, the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Restricted Persons</font><font style="DISPLAY: inline">&#8221;) (a) make any public announcement with respect to, enter into any agreement to, offer or seek or propose to enter into, directly or indirectly any tender or exchange offer, restructuring, recapitalization, merger, acquisition transaction or other business combination involving the Company or any of its subsidiaries or their securities or assets, (b) make, or in any way participate in, directly or indirectly, any &#8220;solicitation&#8221; of &#8220;proxies,&#8221; &#8220;consents&#8221; or &#8220;authorizations&#8221; (as such terms are used in the proxy rules of the Securities and Exchange Commission promulgated under the Exchange Act) to vote, or seek to advise or influence any person with respect to the voting of, any common stock of the Company (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Common Stock</font><font style="DISPLAY: inline">&#8221;) or any other securities of the Company entitled to vote in the election of directors of the Company, or securities convertible into, or exercisable or exchangeable for common stock or such other securities (collectively, &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Voting Securities</font><font style="DISPLAY: inline">&#8221;), or securities of any of the Company&#8217;s subsidiaries or call a special stockholders&#8217; meeting or make a stockholder proposal (including pursuant to Rule 14a-8 under the Exchange Act) for any such purpose, (c) otherwise act, alone or in concert with others, to seek representation or control, control or change the Board, governing instruments, stockholders, policies or affairs of the Company or any of its subsidiaries, (d) directly or indirectly enter into negotiations, arrangements or understandings with any other person with respect to any of the foregoing activities or propose any of such activities, (e) form, join or in any way form, join or in any way participate in a &#8220;group&#8221; (within the meaning of Section 13(d)(3) of the Exchange Act) in connection with any Voting Securities, or securities of the Company&#8217;s&#160;&#160;subsidiaries or </font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Obligation</font><font style="DISPLAY: inline">.&#160;&#160;During the period beginning on the Compliance Date (as defined below) and ending on the first anniversary of this Agreement, the Company shall use its commercially reasonable efforts to market and sell the Shares for not less than fair market value, as determined by the Board in its sole discretion (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Minimum Share Price</font><font style="DISPLAY: inline">&#8221;), in one or more marketed block or other transactions in accordance with and subject to applicable law; provided, however, that the Company shall have no obligation to market or sell any Shares at any time that Executive has breached or violated or is in breach or violation of any of the restrictive covenants set forth in this Agreement.&#160;&#160;For purposes of this Agreement, the term &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Compliance Date</font><font style="DISPLAY: inline">&#8221; shall mean the later of (A) 90 calendar days following the Separation Date, (B) the date that is seven (7) calendar days following the date on which Rothschild Inc. (&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Rothschild</font><font style="DISPLAY: inline">&#8221;) has determined, in its sole discretion, that HC2 has provided Rothschild with (i) all materials, records or information that Rothschild </font><font style="DISPLAY: inline">has, on or prior to the date hereof requested </font><font style="DISPLAY: inline">from HC2 in connection with Rothschild&#8217;s valuation of the shares of common stock, par value $.001 per share, of HC2 held by the Company as of the date hereof (collectively, the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Shares</font><font style="DISPLAY: inline">&#8221;) and (ii) all appropriate certifications and representations that Rothschild may request with respect to the accuracy of all such provided materials, records or information within 30 days after the date hereof (or, if later, 30 days after the materials, records or information is provided) and (C) the date that is three (3) calendar days following the date on which </font><font style="DISPLAY: inline">(x) HC2 provides written notice to </font><font style="DISPLAY: inline">the Company </font><font style="DISPLAY: inline">stipulating </font><font style="DISPLAY: inline">that none of the information that it has provided in respect to any request from Rothschild is or continues to be &#8216;material, non-public information&#8217; (within the meaning of Regulation FD under the Exchange Act) regarding HC2 (such information, &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">MNPI</font><font style="DISPLAY: inline">&#8221;) and (y)&#160;&#160;counsel for the Company reasonably determines in good faith that the Company no longer has MNPI.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive Offer</font><font style="DISPLAY: inline">.&#160;&#160;If Executive makes a written bona fide cash offer to purchase any Shares (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive Offer</font><font style="DISPLAY: inline">&#8221;) during any period of time that the Shares&#160;&#160;are being marketed in accordance with </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 6(b)(i)</font><font style="DISPLAY: inline"> and the offered purchase price per Share (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive Offered Price</font><font style="DISPLAY: inline">&#8221;) in such Executive Offer is greater than (A) the Minimum Share Price and (B) the purchase price per Share set forth in any other purchase offer received by the Company (a &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Third Party Offer</font><font style="DISPLAY: inline">&#8221;) in the 30-day period prior to the Company&#8217;s receipt of the Executive Offer, the Company shall sell such Shares to Executive within 30 days of the Company&#8217;s receipt of the Executive Offer (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Sale Period</font><font style="DISPLAY: inline">&#8221;) on terms and conditions reasonably acceptable to the Company unless either (i) the Company receives a Third Party Offer with a higher price per Share than the Executive Offered Price prior to the consummation of such sale or (ii) Executive is not able to consummate such sale within the Sale Period on terms and conditions reasonably acceptable to the Company.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Executive&#8217;s General Release and Waiver</font><font style="DISPLAY: inline">.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive&#8217;s Release</font><font style="DISPLAY: inline">.&#160;&#160;Upon the Separation Date, Executive, for and on behalf of himself and each of his heirs, executors, administrators, personal representatives, successors and assigns, to the maximum extent permitted by law, hereby acknowledges full and complete satisfaction of and absolutely and irrevocably and unconditionally fully and forever releases, acquits and discharges the Company, together with all of its direct and indirect subsidiaries and affiliates, and each of their past and present direct and indirect stockholders, directors, members, partners, officers, employees, attorneys, agents and representatives, and their heirs, executors, administrators, personal representatives, successors and assigns (collectively, the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Company Released Parties</font><font style="DISPLAY: inline">&#8221;), from any and all claims, demands, suits, causes of action, liabilities, obligations, judgments, orders, debts, liens, contracts, agreements, covenants and causes of action of every kind and nature, whether known or unknown, suspected or unsuspected, concealed or hidden, vested or contingent, in law or equity, existing by statute, common law, contract or otherwise, which have existed, may exist or do exist, through and including the execution and delivery by Executive of this Agreement (but not including Executive&#8217;s rights or entitlements under this Agreement or under the terms and conditions of&#160;&#160;the Services Agreement by and between the Company and Executive, dated as of November 14, 2012, as the same may be amended from time to time (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Services Agreement</font><font style="DISPLAY: inline">&#8221;)), including, without limitation, any of the foregoing arising out of or in any way related to or based upon:</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;<font style="DISPLAY: inline">Executive&#8217;s application for and employment with the Company, his being an officer, director or employee of the Company, or the Separation;</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;<font style="DISPLAY: inline">any and all claims in tort or contract, and any and all claims alleging breach of an express or implied, or oral or written, contract, policy manual or employee handbook;</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline">any alleged misrepresentation, defamation, interference with contract, intentional or negligent infliction of emotional distress, sexual harassment, negligence or wrongful discharge;</font></font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline">Retraining Notification Act, the New York State Human Rights Law, the New York City Human Rights Law, the Fair Labor Standards Act, the New York Labor Law, the Employee Retirement Income Security Act, the Family and Medical Leave Act, the Age Discrimination in Employment Act of 1987, as amended by the Older Workers Benefit Protection Act and otherwise, and the Sarbanes-Oxley Act of 2002, as all such laws have been amended from time to time; or</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 72pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline">any other federal, state or local law, statute, ordinance or regulation, including, but not limited to, all labor and employment discrimination laws.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company&#8217;s Release</font><font style="DISPLAY: inline">.&#160;&#160;The Company, for and on behalf of itself and its successors and assigns, to the maximum extent permitted by law, hereby acknowledges full and complete satisfaction of and absolutely and irrevocably and unconditionally fully and forever releases, acquits and discharges Executive, his heirs, successors, and assigns (collectively, the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive&#8217;s Released Parties</font><font style="DISPLAY: inline">&#8221;), from any and all claims, demands, suits, causes of action, liabilities, obligations, judgments, orders, debts, liens, contracts, agreements, covenants and causes of action of every kind and nature, whether known or unknown, suspected or unsuspected, concealed or hidden, vested or contingent, in law or equity, existing by statute, common law, contract or otherwise, which have existed, may exist or do exist, through and including the execution and delivery by the Company of this Agreement (but not including the Company Group&#8217;s rights and entitlements under this Agreement); </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font><font style="DISPLAY: inline">, </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font><font style="DISPLAY: inline">, that (i) such release does not apply with respect to the derivative claims asserted in the proceedings captioned (a) </font><font style="FONT-STYLE: italic; DISPLAY: inline">Kahn v. Falcone, et al.</font><font style="DISPLAY: inline">, C.A. No. 6088-VCN, pending in the Chancery Court of the State of Delaware, and (b) </font><font style="FONT-STYLE: italic; DISPLAY: inline">Haverhill Retirement System v. Falcone, et al.</font><font style="DISPLAY: inline">, C.A. No. 9474-VCL, pending in the Chancery Court of the State of Delaware and (ii) such release does not waive, release, or otherwise discharge any other claim or cause of action that cannot legally be waived including, but not limited to, any acts of fraud or criminal misconduct.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Acknowledgment of Waiver;&#160;&#160;Disclaimer of Benefits</font><font style="DISPLAY: inline">.&#160;&#160;Executive acknowledges and agrees that he is waiving all rights to sue or obtain equitable, remedial or punitive relief from any or all Company Released Parties of any kind whatsoever, including, without limitation, reinstatement, back pay, front pay, attorneys&#8217; fees and any form of injunctive relief.&#160;&#160;Notwithstanding the foregoing, Executive further acknowledges that he is not waiving and is not being required to waive any right that cannot be waived under governing law, including the right to file a charge or participate in an administrative investigation or proceeding of the Equal Employment Opportunity Commission or any other government agency prohibiting waiver of such right;&#160;&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font><font style="DISPLAY: inline">,</font><font style="FONT-STYLE: italic; DISPLAY: inline">&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font><font style="DISPLAY: inline">, that Executive hereby disclaims and waives any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Effect of Release and Waiver</font><font style="DISPLAY: inline">.&#160;&#160;The Company and Executive understand and intend that this </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7</font><font style="DISPLAY: inline"> constitutes a general release of all claims except as otherwise expressly provided in </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7(a)</font><font style="DISPLAY: inline"> or </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7(b)</font><font style="DISPLAY: inline"> above and that no reference herein to a specific form of claim, statute or type of relief is intended to limit the scope of such general release and waiver. </font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">No Conflict of Interest</font><font style="DISPLAY: inline">.&#160;&#160;Executive hereby covenants and agrees that he</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font><font style="DISPLAY: inline">will</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font><font style="DISPLAY: inline">not, directly or indirectly, incur any obligation or commitment, or enter into any contract, agreement or understanding, whether express or implied, and whether written or oral, which would be in conflict with his obligations, covenants or agreements hereunder or which could cause any of his representations or warranties made herein to be untrue or inaccurate.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">10.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Assistance, Cooperation, Future Litigation</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive&#8217;s Business Assistance and Cooperation</font><font style="DISPLAY: inline">.&#160;&#160;Executive will make himself</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font><font style="DISPLAY: inline">reasonably available to assist and cooperate with the Company in connection with any internal and/or independent review of the Company&#8217;s financial policies, procedures and activities in respect of all periods during which Executive was employed by the Company; </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font><font style="DISPLAY: inline">,</font><font style="FONT-STYLE: italic; DISPLAY: inline">&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font><font style="DISPLAY: inline">, that in no case will such assistance and cooperation unreasonably interfere with Executive&#8217;s employment and business affairs.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive&#8217;s Litigation Assistance and Cooperation</font><font style="DISPLAY: inline">.&#160;&#160;Executive acknowledges and affirms his understanding that he</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font><font style="DISPLAY: inline">may be a witness in litigation, arbitrations, government or other administrative proceedings involving the Company and/or the other Company Released Parties.&#160;&#160;Executive hereby covenants and agrees to testify truthfully in any and all such proceedings.&#160;&#160;Executive further covenants and agrees, upon prior notice and for no further compensation (except reimbursement of Executive&#8217;s Expenses, as </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 10(c)</font><font style="DISPLAY: inline"> provides), to make himself</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font><font style="DISPLAY: inline">reasonably available to and otherwise reasonably assist and cooperate with the Company and/or such other Company Released Parties and with its or their respective attorneys and advisors in connection with any such litigation or administrative proceeding.&#160;&#160;The Company will make all reasonable efforts to insure that such assistance and cooperation will not materially interfere with Executive&#8217;s employment and business responsibilities.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive&#8217;s Expenses</font><font style="DISPLAY: inline">.&#160;&#160;Executive will be entitled to reimbursement of the reasonable fees and expenses of legal representation by a single law firm which shall assist him in connection with the preparation of his testimony and all matters related thereto, as well as any other reasonable pre-approved out-of-pocket expenses for travel, lodging, meals and other transportation incurred by him</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font><font style="DISPLAY: inline">in relation to any cooperation supplied by Executive as described in this </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 10</font><font style="DISPLAY: inline">, subject to the Company&#8217;s regular business expense policies and procedures.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Confidentiality</font><font style="DISPLAY: inline">.&#160;&#160;The Company and Executive agree that the terms and conditions of this Agreement are to be strictly confidential until such time as the terms and conditions of this Agreement are publicly-disclosed by the Company in required securities filings, except that Executive may disclose the terms and conditions to his</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font><font style="DISPLAY: inline">family, attorneys, accountants, tax consultants, state and federal tax authorities, or as may otherwise be required by law.&#160;&#160;The Company may disclose the terms and conditions of this Agreement as the Company deem necessary to its officers, employees, directors, stockholders, insurers, attorneys, accountants, state and federal tax authorities, or as may otherwise be required by law.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Return of Corporate Property</font><font style="DISPLAY: inline; FONT-WEIGHT: normal">.</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font><font style="DISPLAY: inline">Except to the extent that a duly authorized officer of the Company may otherwise agree or as may otherwise be provided in the Services Agreement, Executive covenants that as of the Separation Date, or within a reasonable period of time thereafter not to exceed 10 business days, he shall return, and shall cause HCP to return, all property of the Company within his possession, accessibility or control, including (without limitation) all keys, credit cards (without further use thereof), cell phones, computers, PDA&#8217;s and all other items belonging to the Company or which contain Confidential Information; and, in the case of documents, including (without limitation) all documents of any kind and in whatever medium evidenced, including (without limitation) all hard disk drive data, diskettes, microfiche, photographs, negatives, blueprints, printed materials, tape recordings and videotapes.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">13.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Complete Agreement; Inconsistencies</font><font style="DISPLAY: inline">.&#160;&#160;This Agreement constitutes the complete and entire agreement and understanding of the Parties with respect to the subject matter hereof, and supersedes in its entirety any and all prior understandings, commitments, obligations and/or agreements, whether written or oral, with respect thereto; it being understood and agreed that this Agreement and including the mutual covenants, agreements, acknowledgments and affirmations contained herein, is intended to constitute a complete settlement and resolution of all matters set forth in </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7</font><font style="DISPLAY: inline"> hereof.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">No Strict Construction</font><font style="DISPLAY: inline">.&#160;&#160;The language used in this Agreement will be deemed to be the language mutually chosen by the Parties to reflect their mutual intent, and no doctrine of strict construction will be applied against any Party.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">15.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">No Admission of Liability</font><font style="DISPLAY: inline">.&#160;&#160;Nothing herein will be deemed or construed to represent an admission by Executive, the Company, or any of the Company Released Parties of any violation of law or other wrongdoing of any kind whatsoever.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">16.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Third Party Beneficiaries</font><font style="DISPLAY: inline">.&#160;&#160;The Company Released Parties are intended third-party beneficiaries of this Agreement, and this Agreement may be enforced by each of them in accordance with the terms hereof in respect of the rights granted to such Company Released Parties hereunder.&#160;&#160;Except and to the extent set forth in the sentence, this Agreement is not intended for the benefit of any person other than the Parties, and no such other person will be deemed to be a third party beneficiary hereof.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">17.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Tax Withholdings</font><font style="DISPLAY: inline">.&#160;&#160;Notwithstanding any other provision herein, the Company will be entitled to withhold in accordance with Executive&#8217;s Form W-4 on file with the Company, and subject to amendment from time to time at Executive&#8217;s sole discretion and in any such manner </font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline">permitted by law, from any amounts otherwise payable hereunder to Executive, any amounts required to be withheld in respect of federal, state or local taxes.</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">18.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Notices</font><font style="DISPLAY: inline">.&#160;&#160;All notices, consents, waivers and other communications required or permitted by this Agreement will be in writing and will be deemed given to a Party when: (a)&#160;delivered to the appropriate address by hand or overnight delivery; (b) sent by facsimile or e-mail with confirmation of transmission by the transmitting equipment; or (c)&#160;three (3) days following mailing by certified or registered mail, postage prepaid and return receipt requested, in each case to the following addresses, facsimile numbers or e-mail addresses and marked to the attention of the Party (by name or title) designated below (or to such other address, facsimile number, e-mail address or person as a Party may hereafter designate by written notice to the other Parties):</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">If to the Company:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Harbinger Group Inc.</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">450 Park Avenue, 29<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> Floor</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">New York, NY 10022</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Attention: Ehsan Zargar</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Facsimile: 212-906-8559</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">With a copy to (which shall not constitute notice):</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Akin Gump Strauss Hauer &amp; Feld, LLP</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">One Bryant Park</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">New York, NY 10036</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Attention: Kerry Berchem</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Facsimile: 212-872-1002</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">If to Executive:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Philip A. Falcone</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Harbinger Capital Partners, LLC</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">450 Park Avenue. 30<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> Floor</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">New York, NewYork 10022</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">With a copy to (which shall not constitute notice):</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Debevoise &amp; Plimpton LLP</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; COLOR: #010000">19.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Governing Law</font><font style="DISPLAY: inline">.&#160;&#160;All issues and questions concerning the construction, validity, enforcement and interpretation of this Agreement will be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to any choice of law or conflict of law rules or provisions that would cause the application hereto of the laws of any </font></font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline">jurisdiction other than the State of New York.&#160;&#160;In furtherance of the foregoing, the internal law of the State of New York will control the interpretation and construction of this Agreement, even though under any other jurisdiction&#8217;s choice of law or conflict of law analysis the substantive law of some other jurisdiction may ordinarily apply.</font></font></div>

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>eh1401298_ex1002.htm
<DESCRIPTION>EXHIBIT 10.2
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<div style="TEXT-ALIGN: right; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="FONT-VARIANT: small-caps; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EXHIBIT 10.2</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="FONT-VARIANT: small-caps; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">AMENDMENT TO SERVICES AGREEMENT</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">This amendment (this &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment</font>&#8221;) by and between Harbinger Capital Partners LLC, a Delaware limited liability company (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">HCP</font>&#8221;), and Harbinger Group Inc., a Delaware corporation (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;) (collectively referred to herein as the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Parties</font>&#8221;, and each a &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Party</font>&#8221;), is made effective November 25, 2014 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Effective Date</font>&#8221;).</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, the Company and HCP are parties to that certain Services Agreement, dated as of November 14, 2012 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Services Agreement</font>&#8221;), which sets forth the terms and conditions upon which the Parties have been providing certain ongoing services to each other as set forth therein (capitalized terms used herein but not otherwise defined shall have the meaning ascribed thereto in the Services Agreement);</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, Section 12 of the Services Agreement provides, among other things, that the Services Agreement may be amended by written instrument executed by the Parties as long as such amendment is approved by a majority of the Independent Directors;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, the Parties desire to amend the Services Agreement pursuant to the terms hereto; and</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, a majority of the Independent Directors have previously approved this Amendment in compliance with Section 12 of the Services Agreement.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">NOW, THEREFORE, </font>and in consideration of the mutual covenants, rights, and obligations set forth in the Services Agreement, the benefits to be derived therefrom, and other good and valuable consideration, the receipt and the sufficiency of which are hereby acknowledged, the Parties agree as follows:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendments to the Services Agreement</font>.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 1 of the Services Agreement is hereby amended and restated to read as follows:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">TERM</font>.&#160;&#160;The term of this Agreement shall commence on November 14, 2012 and shall continue in effect until terminated by either Party to this Agreement following ninety (90) days advance written notice to the other Party (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Term</font>&#8221;).&#8221;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A new Section 2(e) shall be added to the Services Agreement to read as follows:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#8220;Except to the extent that a duly authorized officer of the Company may otherwise agree, HCP covenants that within a reasonable period of time after the termination of this Agreement pursuant to the terms herein not to exceed ten (10) business days, HCP shall return all property of the Company within its possession, accessibility or control, including (without limitation) all keys, credit cards (without further use thereof), cell phones, computers, PDA&#8217;s and all other items belonging to the Company or which contain Confidential Information; and, in the case of documents, including (without limitation) all documents of any kind and in whatever medium evidenced, including (without limitation) all hard disk drive data, diskettes, microfiche, photographs, negatives, blueprints, printed materials, tape recordings and videotapes.&#8221;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A new Section 10(e) shall be added to the Services Agreement to read as follows:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#8220;Each of the Parties will make itself reasonably available to assist and cooperate with the other Party in connection with any efforts to transfer the Company Services or HCP Services, as applicable, to a successor provider, including, without limitation, assisting in finding replacement services from such successor providers.&#8221;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">IN WITNESS WHEREOF</font>, the Parties have executed this Amendment effective as of the Effective Date.</font></div>

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<div><font style="FONT-WEIGHT: bold">HARBINGER CAPITAL PARTNERS LLC</font></div>
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<td valign="top" width="6%">&#160; </td>
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<div>By:</div>
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<div>/s/ Philip A. Falcone</div>
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<div>Name:</div>
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<div>Philip A. Falcone</div>
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<div>Title:</div>
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<div>Chief Executive Officer</div>
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<div><font style="FONT-WEIGHT: bold">HARBINGER GROUP INC.</font></div>
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<td valign="top" width="6%">&#160; </td>
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<div>By:</div>
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<div>/s/ Ehsan Zargar</div>
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<div>Name:</div>
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<td align="left" valign="top" width="55%">
<div>Ehsan Zargar</div>
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<div>Title:</div>
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<div>Senior Vice President, Deputy General Counsel and Corporate Secretary</div>
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