Peter J. McNierney Gleacher & Company, Inc. 1290 Avenue of the Americas New York, New York 10019 Dear Peter:Letter Agreement • September 24th, 2010 • Gleacher & Company, Inc. • Security brokers, dealers & flotation companies
In connection with the expiration of the employment agreement between you and Gleacher & Company, Inc. (the “Company”) dated as of May 15, 2007 (the “Employment Agreement”) and the rights under Section 5(a) upon a termination of employment due to the expiration of the Employment Agreement, in order to ensure your continued service with the Company, the Company desires to enter into this letter agreement (the “Letter”) with you to be effective as of September 21, 2010 (the “Effective Date”), in full satisfaction of your rights and the Company’s obligations under the Employment Agreement and the equity awards outstanding as of the date hereof containing similar terms to those provided under Section 5(a) of the Employment Agreement.
