Second Amendment to Employment Agreement between PMC Commercial Trust and Ron Dekelbaum
PMC Commercial Trust and employee Ron Dekelbaum have agreed to extend the term of Dekelbaum's employment agreement through October 31, 2007. All other terms and conditions of the original agreement, including severance provisions, remain unchanged and in effect. This amendment was executed on July 6, 2006.
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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