EXHIBIT 10.7
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Deerfield & Company LLC
Deerfield Capital Management LLC
0000 Xxxx Xxxx Xxxx
00xx Xxxxx
Xxxxxxx, Xxxxxxxx 00000
July 14, 2004
Xxxxxxx X. Xxxxx
0000 Xxxxxxxxx Xxxx
Xxxxxxxxxx, XX 00000
Dear Xxxx:
Reference is made to your Employment Agreement dated as of June 26,
2004 with Deerfield & Company LLC ("D&C") and Deerfield Capital Management LLC
(the "Employment Agreement").
You hereby confirm and agree to the following:
(a) as part of your duties under Section 1(b) of the
Employment Agreement, you shall agree, if requested
by the Board of Directors of Triarc Deerfield
Investment Corporation ("TDIC") and/or TDM Advisors
LLC ("TDM"), to serve as a director and/or as a
corporate officer and/or as a member of the
Investment Committee of TDIC and/or TDM, as
applicable; and
(b) TDIC and TDM shall each be deemed (i) a "subsidiary"
of D&C for purposes of the penultimate sentence of
Section 1(b) of the Employment Agreement and (ii) an
"Affiliate of the Deerfield Companies" for purposes
of Section 3(f)(iii) of the Employment Agreement.
Except as supplemented hereby, the Employment Agreement shall remain in
full force and effect.
Very truly yours,
DEERFIELD & COMPANY LLC
By: /s/ Xxxxxx Xxxxxx
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Name: Xxxxxx Xxxxxx
Title: CFO
DEERFIELD CAPITAL
MANAGEMENT, LLC
By: /s/ Xxxxxx Xxxxxx
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Name: Xxxxxx Xxxxxx
Title: CFO
Agreed to and Accepted by:
/s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
Date:
