Second Extension Severance Compensation Agreement Amendment between Pershing Gold Corporation and Debra W. Struhsacker
This agreement is an amendment to the Severance Compensation Agreement between Pershing Gold Corporation and Debra W. Struhsacker. It extends the term of the original agreement, making it effective from January 11, 2017, until December 31, 2017. The amendment ensures that if Debra Struhsacker separates from the company before the expiration date, she will still receive any severance payments or benefits owed under the agreement. Both parties have agreed to these terms by signing the document.
Exhibit 10.3
January 11, 2017
Debra W. Struhsacker
3610 Big Bend Lane
Reno, NV 89509
Re: Second Extension Severance Compensation Agreement
Dear Debbie:
This letter serves to document the agreed terms of the amendment and extension of the term of the Severance Compensation Agreement between you and Pershing Gold Corporation dated as of September 19, 2013, as amended by the Letter Agreement dated August 15, 2016.
Severance Compensation Agreement Amendment: The Severance Compensation Agreement dated September 19, 2013 is hereby amended as follows:
Section 2. Term. Shall be deleted in its entirety and replaced with the following language:
This Agreement shall be amended by the letter agreement between Employee and the Company dated January 11, 2017. This Agreement, as amended, shall be effective as of January 11, 2017 and shall expire on December 31, 2017; provided, however, that the expiration of this agreement shall not affect the Employee’s rights to receive any payments or benefits otherwise due as a result of a Separation from Service occurring prior to the expiration of this agreement.
Please acknowledge your acceptance by signing in the space provided.
| PERSHING GOLD CORPORATION | Accepted and agreed this 11th day of January 2017. |
| By: | /s/ Stephen D. Alfers | /s/Debra W. Struhsacker |
| Stephen D. Alfers | Debra W. Struhsacker | |
| President and CEO | Senior Vice President |
