<SEC-DOCUMENT>0001144204-16-086537.txt : 20160308
<SEC-HEADER>0001144204-16-086537.hdr.sgml : 20160308
<ACCEPTANCE-DATETIME>20160308100021
ACCESSION NUMBER:		0001144204-16-086537
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160307
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160308
DATE AS OF CHANGE:		20160308

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MEDIFAST INC
		CENTRAL INDEX KEY:			0000910329
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS FOOD PREPARATIONS & KINDRED PRODUCTS [2090]
		IRS NUMBER:				133714405
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31573
		FILM NUMBER:		161490540

	BUSINESS ADDRESS:	
		STREET 1:		11445 CRONHILL DRIVE
		CITY:			OWINGS MILLS
		STATE:			MD
		ZIP:			21117
		BUSINESS PHONE:		7327640619

	MAIL ADDRESS:	
		STREET 1:		11445 CRONHILL DRIVE
		CITY:			OWINGS MILLS
		STATE:			MD
		ZIP:			21117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEALTHRITE INC
		DATE OF NAME CHANGE:	19951120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	XX
		DATE OF NAME CHANGE:	19950619

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	00
		DATE OF NAME CHANGE:	19950619
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v433667_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d)<BR>
of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<B>March 7, 2016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MEDIFAST, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 32%; padding-right: 0.8pt; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Delaware</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 32%; padding-right: 0.8pt; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>001-31573</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 32%; padding-right: 0.8pt; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>13-3714405</U></B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission file number)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS Employer</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of incorporation)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identification No.)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B><U>3600 Crondall Lane, Owings
        Mills, Maryland</U></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">(Address of Principal Executive
        Offices)</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B><U>21117</U></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">(Zip Code)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B><U>(410)-581-8042</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>N/A</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written
communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting
material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
                            5.02.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 7, 2016, Margaret Sheetz, President and
Chief Operating Officer of Medifast, Inc. (the &ldquo;Company&rdquo;) and Chief Executive Officer of Take Shape for Life,
LLC, a wholly-owned subsidiary of the Company, notified the Company of her decision to step down from her current positions
with the Company, effective on the close of business on April 8, 2016 to pursue personal interests. The Company will engage
an executive search firm in the future to source executive talent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with Ms. Sheetz&rsquo;s separation from the company,
Jason Pharmaceuticals, Inc., a wholly-owned subsidiary of the Company, and Ms. Sheetz entered into a separation agreement (the
&ldquo;Separation Agreement&rdquo;). The Separation Agreement provides for, among other things: (a) one year&rsquo;s salary of
$444,308, payable in twelve (12) installments paid in accordance with the Company&rsquo;s regular payroll practices; and (b) a
mutual release by Ms. Sheetz and the Company of all claims against each other. The foregoing description of the Separation Agreement
is not complete and is qualified in its entirety by reference to the full text of the Separation Agreement, which is filed as Exhibit
99.1 to this Current Report on Form 8-K and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
                            9.01.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Financial
Statements and Exhibits.</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">99.1</TD><TD STYLE="text-align: justify">Separation Agreement by and between Margaret Sheetz and
Jason Pharmaceuticals, Inc.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Signature</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MEDIFAST,&nbsp;INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 43%; border-bottom: black 1pt solid; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jason L. Groves</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Jason L. Groves, Esq.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Executive Vice President,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">General Counsel and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Corporate Secretary</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated: March 8, 2016</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 0.8pt; text-decoration: underline; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>No.</U></FONT></TD>
    <TD STYLE="width: 90%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0"><U>Description </U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Separation Agreement between Margaret Sheetz and Jason
        Pharmaceuticals, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0"></P></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>SEPARATION AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">This
Separation Agreement (the &ldquo;Agreement&rdquo;) is made this 7<SUP>th</SUP> day of March, 2016, by and between Jason Pharmaceuticals,
Inc., </FONT>its affiliates, subsidiaries, predecessors, successors and assigns, and their officers, directors, trustees, employees,
agents, attorneys, representatives, insurers, employee benefit plans, fiduciaries, and administrators (past, present and future)
(individually and collectively referred to as <FONT STYLE="color: windowtext">the &ldquo;Company&rdquo; or the &ldquo;Employer&rdquo;)
and Margaret E. Sheetz (&ldquo;Employee&rdquo;), in order to voluntarily resolve all issues which arise out of the employment and
separation of Employee from Employer, including Employee&rsquo;s separation from any positions with the Company&rsquo;s affiliates
identified in Attachment A to this Agreement; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, based
on the mutual promises contained herein and other good and valuable consideration, Company and Employee agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. &#9;<U>Employment
Status</U>. The employment relationship will end effective on April 8, 2016 (the &ldquo;Termination Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">2.
&#9;<U>Responsibilities</U>. Employee is excused from any and all responsibilities and duties arising from any position she holds
within the Company, its subsidiaries or affiliates, effective as of the Termination Date, including but not limited to her position
as </FONT>President and Chief Operating Officer of Medifast, Inc. and Chief Executive Officer of Take Shape for Life, LLC<FONT STYLE="color: windowtext">.
Employee agrees that she will execute Attachment A to this Agreement representing her agreement and understanding that she has
been removed from all positions with the Company. Employee further agrees that, during the period of time after she executes this
Agreement through the Termination Date, she shall have no responsibility to manage or direct any of the Company&rsquo;s employees
or agents, and further agrees that, during that time, she shall devote her best efforts to, and cooperate with, the Company in
developing communication material announcing her separation from the Company. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">3.
&#9;<U>Consideration</U>. As consideration for the General Release and Covenant Not to Sue included in Paragraph 12, </FONT>the
restrictive covenants included in Paragraph 8, the Employee&rsquo;s execution of the general release of claims that is attached
hereto as Attachment B (the &ldquo;Release&rdquo;) no sooner than April 8, 2016, and the other obligations under this Agreement,
<FONT STYLE="color: windowtext">Employer agrees to pay Employee the sum of Four Hundred Forty Four Thousand Three Hundred Eight
Dollars ($444,308.00), which represents one (1) year&rsquo;s salary at Employee&rsquo;s final base pay. Employee agrees to accept
this payment in twelve (12) installments paid in accordance with Employer&rsquo;s regular payroll practices, commencing the first
regular pay day after the Termination Date and continuing for the next eleven (11) regular monthly pay periods (referred to herein
as the &ldquo;Severance Payments&rdquo;). Such Severance Payments will be subject to </FONT>legally required withholdings and deductions.
<FONT STYLE="color: windowtext">Employer and Employee acknowledge and agree that the foregoing payments constitute &ldquo;separation
pay&rdquo; which is exempt from Section 409A under Section 1.409A-1(b)(9) of the Treasury Regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4. &#9;<U>Employee
Benefits</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&#9;To the extent
Employee was a participant in Employer&rsquo;s health, dental, vision, and/or prescription plans (collectively, &ldquo;Health Insurance&rdquo;),
Employee&rsquo;s Health Insurance coverage will continue until the Termination Date. Thereafter, Employee may be eligible for continuation
coverage pursuant to COBRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#9;Employee&rsquo;s
participation in the 401(k) Plan and life insurance benefits coverage will terminate on the Termination Date; however Employee
will be entitled to any vested rights, which are governed by the Employer&rsquo;s 401(k) Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) &#9;Employee will
receive payment for all accrued and unused paid time off (&ldquo;PTO&rdquo;) as of the close of business on the Termination Date.
Such payment will be due on the first regular pay day after the Termination Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5. &#9;<U>Bonuses and
Other Awards</U>. Employee will not be eligible for any additional bonus or, other than the payments provided for herein, any other
payments of any kind after the Termination Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6. &#9;<U>Treatment
of Stock Holdings.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) &#9;All equity
compensation awards held by Employee that are unvested or unexercisable as of the Termination Date shall expire or terminate pursuant
to their terms, except that 3,333 restricted shares of common stock that would otherwise vest on February 19, 2017 shall accelerate
and vest on the Termination Date. Employee agrees that she may transfer stock pursuant to the following schedule and rate:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 59.25pt">(1)</TD><TD STYLE="text-align: justify">From April 8 to July 7, 2016, Employee shall not sell or transfer any stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 95.25pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 59.25pt">(2)</TD><TD STYLE="text-align: justify">From July 8 to October 7, 2016, Employee is permitted to sell or transfer a maximum of 40,000 shares
of stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 59.25pt">(3)</TD><TD STYLE="text-align: justify">From October 8, 2016 to January 7, 2017, Employee is permitted to sell or transfer a maximum of
40,000 shares of stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 122.25pt; text-align: justify; text-indent: -59.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63pt"></TD><TD STYLE="width: 59.25pt">(4)</TD><TD STYLE="text-align: justify">From January 8 to April 7, 2017, Employee is permitted to sell or transfer a maximum of 40,000
shares of stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) &#9;Notwithstanding
Paragraph 6(a) above, Employee shall be permitted to sell shares pursuant to the terms, conditions, and schedule set forth in the
10b5-1 Sales Plan (the &ldquo;Plan&rdquo;), which Employee executed on June 4, 2015, a copy of which is attached hereto as Attachment
C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 122.25pt; text-align: justify; text-indent: -59.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&#9;The Parties
agree that at the conclusion of the period set forth Section (a)(4) of this Paragraph, there will be no further restrictions on
shares of the Company owned by Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7. &#9;<U>Company Property</U>.
Employee agrees to return all Company property to Company on the Termination Date. Employee agrees and authorizes Company to deduct
from Employee&rsquo;s final pay and/or the Severance Payments any amounts for obligations owed by Employee to Company for unpaid
personal corporate credit card balances, personal telephone calls, costs of unreturned company property (including, without limitation,
computers and keys), and other debts and obligations to the Company. Such amounts shall be documented in writing by the Company
and such documentation shall be submitted to Employee prior to such deduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.&#9;<U>Non-Competition,
Non-Disclosure and Confidential Information</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) &#9;Employee agrees
that for a period of one (1) year from the Termination Date, she will not, either directly or indirectly, for herself, or through,
on behalf of, or in conjunction with any person(s) or entity:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)
Own, maintain, operate, engage in, be employed by, or have any interest (either as owner, shareholder, partner, officer, employee,
consultant, independent contractor, agent, or otherwise) in any Competing Business (as defined in the following sentence).&nbsp;
For purposes of this Agreement, &ldquo;Competing Business&rdquo; shall be defined as any person(s) or entity in direct competition
with Employer or any affiliate of the Employer and which formulates, manufactures, develops, sells or otherwise provides any of
the following products for adults: <FONT STYLE="background-color: white">meal replacement products for weight loss and maintenance,
sports nutrition products, or other healthy living food or nutrition products<FONT STYLE="color: #333333">. &nbsp;</FONT></FONT>Examples
of Competing Businesses include, but are not limited to, NutriSystem, Jenny Craig, and Weight Watchers; however, this is not an
exhaustive list.&nbsp; This provision shall apply to any Competing Business which is, or is intended to be, located or operated
in any state or other jurisdiction where the Company has conducted business during the term of Employee&rsquo;s employment with
the Company; or</FONT>&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(2) Divert or attempt to divert
any business or customer of the Company to any Competing Business by direct or indirect inducement, solicitation, contact, or otherwise;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(3) Employ or seek to employ
any person who is at that time employed by the Company, or otherwise directly or indirectly induce or attempt to induce such person
to leave his or her employment with the Company for any reason whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) For the purposes
of this Agreement, &ldquo;Confidential Information&rdquo; means information of any type, not generally known and which the Company
has taken reasonable steps to protect from disclosure, about the Company&rsquo;s business, marketing data, business plans, strategies,
employee lists, financial records and accounts, processes, services, products, products in development, product plans, projections
and budgets, suppliers, customers, decisions, or plans of Company or of any customer of Company (regardless of whether Company
has executed a confidentiality agreement with such customer), which is used or useful in the conduct of Company&rsquo;s business,
or which confers or tends to confer a competitive advantage over one who does not possess such information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Employee<FONT STYLE="color: blue"><I>
</I></FONT>agrees to protect and not to disclose Confidential Information that she has gained during her course of employment and
to protect confidential relationships between the Company and its customers, clients, suppliers and vendors in accordance with
Maryland law. Employee will not disclose to, or use for the benefit of, any third party any Confidential Information or trade secrets
(as defined by Maryland law) of the Company. Additionally, Employee<FONT STYLE="color: blue"><I> </I></FONT>agrees that Confidential
Information that has not been made public shall not be released to private individuals, organizations or governmental bodies unless
demanded by legal process such as a subpoena or court order, that should Employee receive a demand by legal process for such information
she will immediately notify the Company&rsquo;s General Counsel, and that she will not use Confidential Information obtained in
the course of her employment for the purpose of advancing any private interest or for personal gain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">(d)
Employee shall not retain any Confidential Information or copies thereof, all of which (whether in hard copy or electronic format)
Employee shall return to the Company on or before the Termination Date. </FONT> <FONT STYLE="color: windowtext"> </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(<FONT STYLE="color: windowtext">e</FONT>)
Employee agrees that the covenants contained in this Paragraph are reasonable and necessary to protect the Confidential Information
and other trade secrets of the Company and its affiliates. For the purposes of this Section, an &ldquo;affiliate&rdquo; shall mean
the Company or any joint venture or collaboration in which the Company participates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(<FONT STYLE="color: windowtext">f</FONT>)
It is the intent and desire of Employee and the Company that the restrictive provisions in this <FONT STYLE="color: windowtext">Section</FONT>
be enforced to the fullest extent permissible under <FONT STYLE="color: windowtext">applicable law</FONT>. If any particular provision
in this <FONT STYLE="color: windowtext">Section</FONT> shall be determined to be invalid or unenforceable, such covenant shall
be amended, without any action on the part of either Party, to delete therefrom the portion so determined to be invalid or unenforceable,
such deletion to apply only with respect to the operation of such covenant in <FONT STYLE="color: windowtext">accordance with applicable
law</FONT>. Employee acknowledges that Company will suffer irreparable injury, not readily susceptible of valuation in monetary
damages, if Employee breaches her obligations under this Paragraph. Accordingly, Employee agrees that Company will be entitled,
in addition to any other available remedies, to obtain injunctive relief against any breach or prospective breach by Employee of
her obligations under this subsection in any Federal or state court sitting in the State of Maryland. <FONT STYLE="color: windowtext">
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">9.
&#9;<U>Cooperation During Remaining Employment, </U></FONT><U>Severance Payment<FONT STYLE="color: windowtext"> Period and Thereafter</FONT></U><FONT STYLE="color: windowtext">.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) Employee agrees
that for a period of three (3) years after the Termination Date, she shall cooperate reasonably with Company, its advisors, and
its legal counsel and respond to questions candidly and truthfully with respect to any internal inquiry or investigation, any federal,
state, or local agency investigation, and/or any legal proceeding involving Company. Such cooperation shall include Employee making
herself available at reasonable times and places for interviews, reviewing documents, testifying in a deposition or a legal or
administrative proceeding, providing advice to Company to assist Company to respond to or defend against any pending or potential
claims against the Company, or providing other assistance needed by Company. Company agrees to reimburse Employee for all reasonable
out-of-pocket expenses incurred in connection with rendering such services. If Employee is compelled by legal process to appear
or participate in any non-criminal proceeding that involves or is brought against Company, Employee shall promptly disclose to
Company the substance of Employee&rsquo;s planned testimony and production.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) Employee agrees
that upon Employer&rsquo;s request, she shall attend and participate in the Take Shape For Life 2016 National Convention (the &ldquo;Convention&rdquo;).
Employee&rsquo;s participation in the Convention will be limited to her communicating farewells to colleagues, participants and/or
attendees. Employer agrees to reimburse Employee for reasonable expenses for travel, lodging, and meals incurred as a result of
her participation in the Convention, up to a maximum of Three Thousand Dollars ($3,000).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10. &#9;<U>Mutual Non-Disparagement;
Non-Retaliation Against Husband</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&#9;Employer and
Employee agree that, for a period of three (3) years after the execution of this Agreement, they will not disparage one another.
Employer and Employee agree that their mutual non-disparagement obligation includes, but is not limited to, the making of negative
or disparaging verbal comments to others or publication of documents containing negative or disparaging statements, either electronically
or in hard copy formats. Employee agrees that her duty not to disparage extends to Company and Company&rsquo;s subsidiaries, affiliates,
directors, officers, employees and agents, as well as the directors, officers, employees and agents of Company&rsquo;s subsidiaries
and affiliates. Employer agrees that it will instruct Michael MacDonald, Tim Robinson, Jason Groves, Jeanne City, Brian Kagen,
Mona Ameli, and all of its current Board Members, that they shall not, for a period of three (3) years, take any action that derogates
Employee or make any negative or disparaging statements concerning Employee, including as to Employee&rsquo;s character, capability,
services, or reputation, or any other statement that in any way could damage Employee&rsquo;s business relationships or reputation
in the community, and that they shall not encourage or induce any of Company&rsquo;s employees to make such remarks about Employee.
Employer further agrees and acknowledges that any breach of this Section by Michael MacDonald, Tim Robinson, Jason Groves, Jeanne
City, Brian Kagen, Mona Ameli, and/or any of its current Board Members shall also constitute a breach of this Section by Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#9;Employer agrees
that it will not take any adverse action against current employee Guy Sheetz (&ldquo;Mr. Sheetz&rdquo;) that is due in whole or
in part to, or to arising from, Employee's separation from the Company or Employee&rsquo;s compliance or alleged noncompliance
with any term of this Agreement; notwithstanding, however, nothing in this Section changes the at-will nature of Mr. Sheetz&rsquo;s
employment with the Company, and the Company retains any and all rights it has under its policies and procedures and applicable
law with regard to Mr. Sheetz&rsquo;s employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11. &#9;<U>References</U>.
Company will only verify Employee's dates of employment and salary and job held on termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12. &#9;<U>Mutual Release
and Covenant Not to Sue. </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">(a)&#9;</FONT>In
consideration for the Consideration and other benefits set forth above, except<FONT STYLE="color: windowtext"> as provided </FONT>below
<FONT STYLE="color: windowtext">in Paragraph 12(e) below,</FONT> <FONT STYLE="color: windowtext">for Employee and Employee&rsquo;s
heirs and personal representatives, Employee hereby releases and forever discharges Employer, and its subsidiaries, affiliates,
successors, benefit plans, and funds, and their current and former directors, officers, employees and shareholders (the &ldquo;Released
Parties&rdquo;), from and against all liability, damages, actions and claims of any kind whatsoever, known and unknown, that Employee
now has or may have had, or thereafter claim to have, on behalf of Employee or any other person or entity, at any time prior to
the date of this Agreement, arising out of, or relating in any way to Employee&rsquo;s employment or termination of employment
with Employer. Employee expressly acknowledges and agrees that, to the maximum extent permitted by law, this General Release includes,
but is not limited to, Employee&rsquo;s release of any tort, contract and other common law claims and any claims under Title VII
of the Civil Rights Act of 1964 and 1991, 42 U.S.C. &sect; 2000(e) et seq., 42 U.S.C. &sect; 1981, the Americans With Disabilities
Act, 42 U.S.C. &sect; 12101 et seq., the Rehabilitation Act of 1973, 29 U.S.C. &sect; 794, the Employee Retirement Income Security
Act of 1974, 29 U.S.C. &sect; 1001 et seq., </FONT>and any employee benefit plan sponsored by the Company which is not subject
to ERISA, <FONT STYLE="color: windowtext">the Equal Pay Act, 29 U.S.C. &sect; 206(4) et seq., the Family and Medical Leave Act
of 1993, 29 U.S.C. &sect; 2601 et seq., </FONT>the Genetic Information Non-Discrimination Act, the anti-discrimination provisions
of the Maryland Code, or any other federal, state or municipal law or ordinance relating to discrimination in employment, or any
other law or regulation, known or unknown to Employee at the time of the execution of this Agreement, saving and excepting, however,
any and all obligations of or claims against the Company arising by virtue of the terms and conditions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#9;With respect
to any claim that is not subject to the foregoing release, Employee further waives and gives up any right to become, and promises
not to consent to become, a member of any class or collective action, or otherwise participate in any putative or certified class,
collective or multi-party action or proceeding, in a case in which claims are asserted against Employer or any of the Released
Parties that are related in any way to Employee&rsquo;s employment, wages or compensation, or the termination of Employee&rsquo;s
employment. If, without Employee&rsquo;s prior knowledge and consent, Employee is made a member of a class in any proceeding, Employee
agrees to opt out of the class at the first opportunity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&#9;By signing this
Agreement, Employee also expressly acknowledges and represents that Employee (i) has suffered no injuries or occupational diseases
arising out of or in connection with Employee&rsquo;s employment with Employer; (ii) has received all wages to which Employee was
entitled as an employee of Employer; (iii) has received all leave to which Employee was entitled under the Family and Medical Leave
Act of 1993 (&ldquo;FMLA&rdquo;); and (iv) is not currently aware of any facts or circumstances constituting a violation of the
FMLA or the Fair Labor Standards Act (&ldquo;FLSA&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&#9;Except as provided
in Paragraph 12(e) below, Employee agrees not to file, join in or prosecute any lawsuits against Employer or any of the other Released
Parties, concerning any matter, act, occurrence, or transaction which arose on or before the date Employee signs this Agreement.
Employee expressly represents that as of the date that Employee signs this Agreement, Employee has not filed any grievances, claims,
complaints, administrative charges or lawsuits against Employer or any Released Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&#9;Employee is
not precluded from filing a charge with the EEOC or participating in an EEOC investigation; however, to the maximum extent permitted
by law, Employee expressly waives Employee&rsquo;s right to any monetary recovery or any other individual relief in connection
with any EEOC charge or other administrative charge or should any federal, state or local administrative agency or any other person
pursue any claims on Employee&rsquo;s behalf arising out of or related to Employee&rsquo;s employment with Employer and/or the
termination of that employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">(f)
&#9;</FONT>Employer<FONT STYLE="color: windowtext">, for itself and all of its affiliates, subsidiaries, predecessors, successors
and assigns, and their officers, directors, trustees, employees, agents, attorneys, representatives, insurers, employee benefit
plans, fiduciaries, and administrators (past, present and future),</FONT> agrees to fully release and forever discharge Employee
from any and<FONT STYLE="color: windowtext"> all liability, damages, actions and claims of any kind whatsoever, known and unknown,
that Employer now has or may have had, or thereafter claim to have, on behalf of Employer or any other person or entity, at any
time, arising out of, or relating in any way to, any acts or omissions done or occurring in whole or in part prior to and including
the date of this Agreement,</FONT> excepting only those claims that may arise<FONT STYLE="color: windowtext"> to enforce the terms
of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">(g)&#9;The
Company agrees </FONT>to the maximum extent permitted by law to defend, indemnify and hold harmless Employee from and against any
and all claims made against her concerning or related to her service, actions, or omissions on behalf of the Company as an employee,
officer, director, or agent of the Company, except in the case of fraud, bad faith or gross negligence, each as determined by final
order of a court of competent jurisdiction. Employee agrees to provide the Company with prompt notice of any claim, upon which
the Company shall provide to the Employee legal counsel selected by the Company and approved by Employee, which approval shall
not be unreasonably withheld. The Company shall pay legal the fees and expenses incurred by counsel in defending the claim against
Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h) &#9;Notwithstanding
anything in this Agreement to the contrary, nothing in this Agreement will waive, relinquish, diminish, or in any way affect (i)
any vested rights that Employee may have under Company retirement plans; (ii) any rights or claims that may arise after the date
of execution of this Agreement; (iii) claims that may arise to enforce the terms of this Agreement; and (iv) any rights or claims
that, as a matter of law, cannot be released or waived.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13. &#9;<U>Knowing
and Voluntary Waiver</U>. Employee agrees that she has had an opportunity to thoroughly discuss all aspects of this Agreement with
Employee&rsquo;s personal attorney of her choosing; that Employee understands all provisions of the Agreement; and that Employee
is knowingly and voluntarily entering into this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">14. &#9;<U>No Admission</U>.
This Agreement and Release shall not in any way be construed as an admission by the Company or any of its board members, officers,
employees or agents of any wrongful conduct or discrimination against, or any liability whatsoever to Employee, and the Company
specifically disclaims any liability to Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">15.&#9;<U>Section
409A</U>. Notwithstanding any provision to the contrary, all provisions of this Agreement shall be construed and interpreted to
comply with Section 409A of the Internal Revenue Code (the &ldquo;Code&rdquo;) and applicable regulations thereunder. The parties
agree to amend, retroactively if necessary, any provision of this Agreement which is determined by the parties to be noncompliant
with Section 409A of the Code and the regulations thereunder. For purposes of the limitations on nonqualified deferred compensation
under Section 409A of the Code, each Payment under this Agreement shall be treated as a separate payment of compensation for purposes
of applying the deferral election rules and the exclusion of certain short-term deferral amounts under Section 409A of the Code.
To the extent that any payment of the Compensation is considered &ldquo;deferred compensation&rdquo; under Section 409A of the
Code and the Executive is a &ldquo;specified employee&rdquo; as defined in Section 409A of the Code, then such Severance Payment
shall not be paid prior to the six month anniversary of the Termination Date, to the extent necessary to comply with the requirements
of Section 409A of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">16.
&#9;<U>Integration</U>. This Agreement shall be binding on the assigns and heirs of the Employee, except as expressly provided
in this Section, and on the purchasers and assigns of the Company. The Parties agree, however, that no current employee of the
Company, who is also an heir of Employee, shall be deemed to have waived or released any liability, damages, actions or claims
that such employee may have arising out of his/her employment with the Company. This Agreement contains the entire understanding
of the parties relating to employment, employment pay, severance, severance pay and or other benefits and/or termination from
employment, and supersedes all other agreements addressing the same. The parties agree that the Agreement shall not be changed
except by another written agreement executed by all parties to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">17. &#9;<U>Governing
Law</U>. This Agreement shall be governed by the laws of the State of Maryland.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">18. &#9;<U>Liquidated
Damages</U>. The Company and Employee agree that if she breaches any of the commitments under Paragraphs 8 of this Agreement or
engages in bad faith with respect to her obligations under Paragraph 9 of this Agreement, then the Company will be entitled to
recover liquidated damages in an amount equal to the Severance Payments paid to Employee pursuant to this Agreement.&nbsp; For
the purposes of this Paragraph, &ldquo;bad faith&rdquo; means the <FONT STYLE="background-color: white">intentional or malicious
refusal to perform or comply with her obligations under Paragraph 9 of this Agreement, with the intent to harm the Company.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">19.&#9;<FONT STYLE="color: windowtext"><U>Acceptance
of Agreement; Notice of Rights; Payment of Employee&rsquo;s Attorneys&rsquo; Fees</U>. Employee understands and agrees that Employee
may be waiving significant legal rights by signing this Agreement and acknowledges that Employee is executing this Agreement voluntarily
and of Employee&rsquo;s own free will, and that Employee fully understands the terms of this Agreement. Employee further acknowledges,
agrees, and understands that: </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">(a</FONT>)
&#9;<FONT STYLE="color: windowtext">Employee is being advised in writing to consult with an attorney before signing this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">(</FONT>b<FONT STYLE="color: windowtext">)
&#9;Employee is being given a reasonable amount of time from the date of this receiving this Agreement within which to review and
consider this Agreement before signing it. Employee has until March 7, 2016 to review, consider, and return this Agreement (the
&ldquo;Consideration Period&rdquo;). Unless Employee executes this Agreement and delivers it to Jeanne City, 11445 Cronhill Drive,
Owings Mills, MD 21117 within the Consideration Period, and absent an agreement between the Parties extending that period, this
Agreement shall be deemed withdrawn and rendered null and void. Unless Employer executes this Agreement and delivers a fully executed
original to Employee by March 11, 2016, this Agreement shall be deemed withdrawn and rendered null and void.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&#9;Employer agrees
to pay Employee&rsquo;s legal fees incurred in connection with the review of this Agreement by the attorney of her choosing, up
to a maximum of $10,000. Any and all invoices for such legal fees should be submitted in redacted form to Jason Groves, Executive
Vice President and General Counsel, 11445 Cronhill Drive, Owings Mills, MD 21117, within thirty (30) days after Employee&rsquo;s
execution of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Agreed and Accepted: </TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Jason Pharmaceuticals, Inc.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify"><U>/s/ Jeanne City</U></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify"><U>/s/ Margaret E. Sheetz</U></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Employer</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Margaret E. Sheetz </TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Date: March 6, 2016</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Date: March 6, 2016</TD></TR>
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