AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
AMENDMENT
NO. 1 TO EMPLOYMENT AGREEMENT
This
Amendment No. 1 (this “Amendment”)
to the
Employment Agreement dated as of March 24, 2004 (the “Employment
Agreement”),
between Capital Lease Funding, Inc., a Maryland corporation (the “Company”)
and
Xxxxxx X. Xxxxx (the “Executive”),
is
made and entered into this 13th day of February, 2007.
RECITALS
WHEREAS,
the
Company and the Executive desire to amend the Employment Agreement as provided
herein:
NOW,
THEREFORE,
in
consideration of the mutual covenants contained herein, and for other good
and
valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties agree as follows:
1. Section
4(a) of the Employment Agreement is hereby amended by replacing
“$750 thousand” with “$1.0 million.”
2. Sections
6(e)(i) and 6(e)(ii) of the Employment Agreement are hereby amended by replacing
“two (2)” with “three (3).”
3. Except
as
expressly provided in this Amendment or as necessary to effectuate the terms
of
this Amendment, the Employment Agreement shall not be otherwise amended but
shall remain in full force and affect.
IN
WITNESS WHEREOF,
the
parties have executed this Amendment on the date and year first above
written.
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Capital
Lease Funding, Inc.
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| By: | /s/ Xxxxxxx X. Xxxxxxxxx | |
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Name: Xxxxxxx X. Xxxxxxxxx |
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| Title: Chairman, Compensation Committee | ||
| /s/ Xxxxxx X. Xxxxx | ||
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Xxxxxx X. Xxxxx |
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