Amendment to Employment Agreement between KCAP Financial, Inc. and Edward Gilpin (April 22, 2013)
This letter amends the employment agreement between KCAP Financial, Inc. and Edward Gilpin, originally dated May 18, 2012. The amendment, effective April 22, 2013, specifically deletes the last sentence of Section 4(c) of the original agreement. All other terms and conditions remain unchanged. Both parties must sign the letter to confirm acceptance of the amendment.
[KCAP Financial letterhead]
April 22, 2013
Mr. Edward Gilpin
KCAP Financial, Inc.
295 Madison Avenue, 6th Floor
New York, NY 10017
Dear Ted:
This letter constitutes an amendment to your employment agreement with Kohlberg Capital Corporation, now known as KCAP Financial, Inc., dated May 18, 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/ Dayl W. Pearson | |
Dayl W. Pearson | |
President and Chief Executive Officer |
Accepted by:
/s/ Edward Gilpin
Edward Gilpin
Date: April 22, 2013