Amendment to Employment Agreement between Franklin Credit Management Corporation and William F. Sullivan

Contract Categories: Human Resources › Employment Agreements
Summary

Franklin Credit Management Corporation proposes to amend William F. Sullivan's employment agreement, effective August 17, 2006, to change his title to Chief Operating Officer and assign him the related duties. If Mr. Sullivan agrees by signing, the amendment takes effect; otherwise, the original agreement remains unchanged. This letter serves as the formal proposal for the amendment.

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EX-10.5 3 v075254_ex10-41.htm Unassociated Document
August 17, 2006

William Sullivan
264 Water Street
New York, NY 10038

This letter sets forth proposals for the amendment of your employment agreement with Franklin Credit Management Corporation, dated as of February 1, 2006 and amended as of April 28, 2006.
 
1.  
We hereby propose to amend your employment agreement such that, effective August 17, 2006, your title shall be Chief Operating Officer and you shall perform the duties commensurate with such position.
 
If you agree to the foregoing, please sign where indicated below and return the signed copy to me. Otherwise, the agreement will continue in full force and effect, without amendment.

Sincerely,

FRANKLIN CREDIT MANAGEMENT CORPORATION
 
 
________________________________
Name: Gordon Jardin
Title: CEO  


AGREED AND ACCEPTED
 

____________________________
William F. Sullivan