Second Amendment to Employment Agreement

Contract Categories: Human Resources - Employment Agreements
EX-10.5 6 d38544exv10w5.htm SECOND AMENDMENT TO EMPLOYMENT AGREEMENT exv10w5
 

EXHIBIT 10.5

SECOND 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 October 31, 2007; 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 October 31, 2007; 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 July 6, 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        
 
                   
 
      Date:   July 6, 2006        
 
                   

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