Amendment to Employment Agreement between KCAP Financial, Inc. and Dayl W. Pearson (April 22, 2013)
KCAP Financial, Inc. and Dayl W. Pearson have agreed to amend Mr. Pearson's employment agreement, originally dated June 27, 2012. This amendment, effective April 22, 2013, specifically deletes the last sentence of Section 4(c) of the original agreement. All other terms and conditions of the employment agreement remain unchanged. Both parties have signed the amendment to confirm their acceptance.
[KCAP Financial letterhead]
April 22, 2013
Mr. Dayl Pearson
KCAP Financial, Inc.
295 Madison Avenue, 6th Floor
New York, NY 10017
Dear Dayl:
This letter constitutes an amendment to your employment agreement with Kohlberg Capital Corporation, now known as KCAP Financial, Inc., dated June 27, 2012 (the “Employment Agreement”), pursuant to Section 11(a) of the Employment Agreement. Except as specifically stated herein, the terms and conditions described in your Employment Agreement will remain in effect.
Effective as of the date first written above, Section 4(c) of the Employment Agreement is hereby amended by deleting the last sentence thereof.
If the foregoing is acceptable to you, please sign this letter in the space provided and return it to me. We will provide a countersigned copy for your records.
| Very truly yours, | |
| /s/ Edward U. Gilpin | |
| Edward U. Gilpin | |
| Chief Financial Officer |
Accepted by:
/s/ Dayl W. Pearson
Dayl W. Pearson
Date: April 22, 2013
