Agreement to Extend the Term of the Management Continuity Agreement between Fremont General Corporation and Alan W. Faigin
Fremont General Corporation and Alan W. Faigin have agreed to extend the term of their existing management continuity agreement. Originally set to expire on August 7, 2006, the agreement will now remain in effect until August 7, 2009. This extension is formalized through mutual written consent, ensuring the executive's management continuity protections continue for an additional three years.
AGREEMENT
TO
EXTEND THE TERM OF THE
MANAGEMENT CONTINUITY AGREEMENT
WHEREAS, Alan W. Faigin (the “Executive”) entered into a management continuity agreement with Fremont General Corporation (the “Company”) effective August 7, 2003 (herein, the “Agreement”);
WHEREAS, the Agreement will terminate on August 7, 2006 unless extended by mutual written agreement between the Company and the Executive;
NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, the Company and the Executive agree that the term of the Agreement is extended to August 7, 2009.
IN WITNESS WHEREOF, the Executive and the Company hereby agree that the Agreement is amended to reflect the foregoing.
Alan W. Faigin
Date:
Fremont General Corporation
By:
Date:
