Exhibit
10.17.3
ASSIGNMENT AND ASSUMPTION
AGREEMENT
THIS ASSIGNMENT AND ASSUMPTION
AGREEMENT (the “
Assignment ”) is made this 1 st day of January, 2006 (the “
Effective Date ”), by and between MUNICIPAL MORTGAGE
& EQUITY, LLC, a Delaware limited liability company (“
Assignor ”) and MMA FINANCIAL, INC., a Maryland
corporation (“ Assignee ”) and acknowledged and
consented to by Mark K. Joseph (the “ Employee
”).
WHEREAS , Assignor and Employee are parties to that
certain Employment Agreement dated as of July 1, 2003 (the
“Agreement”), as amended by that certain Amendment to
Employment Agreement dated as of January 1, 2005 (the
“Amendment”), which Agreement and Amendment are
attached hereto as Exhibit A (the “ Employment
Agreement ”); and
WHEREAS , Assignor desires to assign to Assignee, and
Assignee desires to assume the rights and obligations under the
Employment Agreement; and
WHEREAS , Assignor desires to document Employee’s
acknowledgment and agreement to this Assignment in accordance with
Section 9(b) of the Employment Agreement;
NOW, THEREFORE
, in consideration of the mutual
covenants contained herein, the receipt and sufficiency of which
are hereby acknowledged, the parties agree as follows:
1. Assignment and Assumption
. As of the Effective Date and in accordance with this Assignment,
Assignor hereby conveys and assigns and Assignee hereby
