First Amendment to Employment Agreement between PMC Commercial Trust and Ron Dekelbaum

Summary

PMC Commercial Trust and Ron Dekelbaum have agreed to amend their original employment agreement by extending its term, including severance provisions, through December 31, 2006. All other terms of the original agreement remain unchanged and in effect. This amendment was executed in early 2006 by both parties.

EX-10.27 5 d33924exv10w27.htm 1ST AMENDMENT TO EMPLOYMENT AGREEMENT exv10w27

Exhibit 10.27

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

WHEREAS, on the 28th day of April 2005 (the “Effective Date”) PMC Commercial Trust (the “Company”) and Ron Dekelbaum (“Employee”) executed an Employment Agreement (the “Agreement”).

WHEREAS, the Company and Employee wish to amend and extend the term of the Agreement through December 31, 2006; and

WHEREAS, in consideration of the foregoing premises, the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the terms and conditions of the Agreement including the severance provisions provided in paragraph 5 are hereby extended through December 31, 2006; and

WHEREAS, all other terms and conditions pursuant to the Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties have executed this Amendment as of January 12, 2006.


EMPLOYEE:				PMC COMMERCIAL TRUST

By: /s/ Ron H. Dekelbaum				By: /s/ Jan F. Salit

Ron H. Dekelbaum				Name: Jan F. Salit
				Title: Executive Vice President and Chief
				Investment Officer
				Date: February 1, 2006