Agreement to Extend the Term of the Management Continuity Agreement between Patrick E. Lamb and Fremont General Corporation
This agreement extends the term of a prior management continuity agreement between Patrick E. Lamb and Fremont General Corporation. Originally set to expire on August 7, 2006, the agreement is now extended to August 7, 2009, by mutual written consent. Both parties acknowledge and accept the extension, ensuring the executive's management continuity protections remain in effect for the additional period.
AGREEMENT
TO
EXTEND THE TERM OF THE
MANAGEMENT CONTINUITY AGREEMENT
WHEREAS, Patrick E. Lamb (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.
Patrick E. Lamb
Date:
Fremont General Corporation
By:
Date:
