Amendment to Employment Agreement between KCAP Financial, Inc. and R. Jon Corless (April 22, 2013)
This letter amends the employment agreement between KCAP Financial, Inc. and R. Jon Corless, originally dated June 27, 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 of the employment agreement remain unchanged. Both parties have agreed to this amendment by signing the letter.
[KCAP Financial letterhead]
April 22, 2013
Mr. R. Jon Corless
KCAP Financial, Inc.
295 Madison Avenue, 6th Floor
New York, NY 10017
Dear Jon:
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/ Dayl W. Pearson | |
| Dayl W. Pearson | |
| President and Chief Executive Officer |
Accepted by:
/s/ R. Jon Corless
R. Jon Corless
Date: April 22, 2013
