Amendment to Employment Agreement between Cowen Group, Inc. and Owen Littman (April 24, 2015)
This letter agreement amends the employment contract between Cowen Group, Inc. and Owen Littman, originally dated August 2, 2012. The amendment deletes Sections 1(bb) and 4(b) from the original agreement. All other terms of the employment agreement remain unchanged and in effect. The amendment clarifies that these changes do not give Owen Littman the right to resign for Good Reason under the original contract. The amendment is effective upon signature by both parties.
Exhibit 10.3
April 24, 2015
Owen Littman
Address of record at Cowen
Dear Owen:
This letter amendment (this “Amendment”) sets forth the mutual agreement between you and Cowen Group, Inc. (the “Company”) to amend your employment agreement, dated August 2, 2012 (your “Employment Agreement”). This Amendment becomes effective when signed by you and the Company.
Specifically, your Employment Agreement is amended as follows:
· Section 1(bb) is deleted.
· Section 4(b) is deleted.
This Amendment does not amend any other terms of your Employment Agreement, all of which remain in full force and effect. You acknowledge that this Amendment does not entitle you to terminate your employment for Good Reason under your Employment Agreement.
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| Sincerely, | |||
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| By: | |||
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| /s/ Peter A. Cohen | |||
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| Peter A. Cohen | |||
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| CEO | |||
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| AGREED AND ACCEPTED: |
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| Signed: | /s/ Owen Littman |
| April 24, 2015 |
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| Owen Littman |
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