FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Exhibit 10.27
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
WHEREAS, on the 28th day of April 2005 (the “Effective Date”) PMC Commercial Trust (the
“Company”) and Xxx Xxxxxxxxx (“Employee”) executed an Employment Agreement (the “Agreement”).
WHEREAS, the Company and Employee wish to amend and extend the term of the Agreement through
December 31, 2006; and
WHEREAS, in consideration of the foregoing premises, the mutual agreements contained herein
and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the terms and conditions of the Agreement including the severance provisions provided
in paragraph 5 are hereby extended through December 31, 2006; and
WHEREAS, all other terms and conditions pursuant to the Agreement shall remain in full force
and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of January 12, 2006.
EMPLOYEE:
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PMC COMMERCIAL TRUST | |||
By: /s/ Xxx X. Xxxxxxxxx
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By: /s/ Xxx X. Xxxxx | |||
Xxx X. Xxxxxxxxx
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Name: Xxx X. Xxxxx | |||
Title: Executive Vice President and Chief | ||||
Investment Officer | ||||
Date: February 1, 2006 |