Amendment to Employment Agreement between AmBase Corporation and Richard A. Bianco

Summary

AmBase Corporation and Richard A. Bianco have agreed to amend Mr. Bianco's employment agreement to increase his annual base salary from $500,000 to $625,000, effective January 1, 2001. All other terms of the original agreement remain unchanged. This amendment was approved by the company's Personnel Committee and is accepted by both parties.

EX-10.G 4 0004.txt AMENDMENT TO EMPLOYMENT AGREEMENT - EXHIBIT 10G March 6, 2001 Mr. Richard A. Bianco Chairman, President and Chief Executive Officer AmBase Corporation 51 Weaver Street Bldg. 2 Greenwich, CT ###-###-#### Dear Mr. Bianco: As approved by the Personnel Committee of the Board of Directors of AmBase Corporation (the "Company") at its meeting held on January 2, 2001, the Company hereby agrees to amend your employment agreement dated June 1, 1991, as amended dated March 30, 1993 and February 24, 1997 (collectively, the "Agreement") to increase your annual base salary from $500,000 to $625,000, effectively January 1, 2001. It is expressly understood that all other provisions of the Agreement will continue in full force and effect in accordance with its original terms and practices to date. AmBase Corporation By: /s/ John P. Ferrara --------------------- John P. Ferrara Vice President, Chief Financial Officer, and Controller Accepted and agreed to this 6th day of March, 2001 /s/ Richard A. Bianco - --------------------------- Richard A. Bianco