Item 1.02 - Termination of a Material Definitive Agreement.
On Monday, May 17, 2021, Enterprise Diversified, Inc. (the "Company") entered
into a confidential settlement agreement and mutual general release with
Woodmont Lexington, LLC ("Woodmont") and Mt Melrose, LLC ("Mt Melrose"),
pursuant to which such parties have amicably settled their disputes and the
previously reported related litigation between them following a mediation.
Pursuant to such settlement, all rights and obligations of the Company to
Woodmont and/or Mt Melrose, and of Woodmont and/or Mt Melrose to the Company,
set forth in the membership interest purchase agreement between the Company and
Woodmont and the Amended and Restated Limited Liability Company Agreement of Mt
Melrose, LLC by and among the Company and Woodmont dated June 27, 2019, and all
amendments of those agreements, are terminated and of no further force or
effect, effective as of May 17, 2021. As consideration for the termination of
the Company's membership interests, the Company shall receive $850,000 in cash
proceeds.
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