November 26, 2007Retention Agreement • December 3rd, 2007 • Hanover Capital Mortgage Holdings Inc • Real estate investment trusts • New Jersey
As you know, this year has been a very challenging one for our industry. We recognize that it may also, unfortunately, have had an unsettling effect on some of our key employees. We would like to offer you the retention agreement set forth below in an effort to reduce concerns that you might have about your immediate future, and to assure that you will be available to assist us during the next year, which we believe will be crucial to our future.
AMENDED AND RESTATED EMPLOYMENT AGREEMENT (John A. Burchett)Employment Agreement • December 3rd, 2007 • Hanover Capital Mortgage Holdings Inc • Real estate investment trusts • New Jersey
THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Agreement”) is by and between Hanover Capital Mortgage Holdings, Inc., a Maryland corporation, with its offices located at 200 Metroplex Drive, Suite 100, Edison, New Jersey 08817 (the “Company”), and John A. Burchett (the “Employee”), an individual whose residence is 896 Highland Avenue, Westfield, New Jersey 07090. This Agreement is an amendment and restatement of that certain employment agreement entered into between the Company and the Employee as of July 1, 2002 (the “Prior Agreement”), and supersedes that Prior Agreement in all respects. Except as otherwise specified in Section 17, this Agreement is effective as of the 1st day of July, 2007 (the “Effective Date”).
