RESCISSION OF RETENTION AGREEMENTEmployee Retention Agreement |
|
|
You are currently viewing: This Employee Retention Agreement involves
ALLIED CAPITAL CORP | John M. Scheurer. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
|
|
|
Search Employee Retention Agreement by:
EXHIBIT 10.1
RESCISSION OF
RETENTION AGREEMENT
This RESCISSION AGREEMENT (the “Rescission Agreement”) is entered into by and between John M. Scheurer (“you”) and A.C. Corporation, a Delaware company (the “Company”) and will be effective as of October 27, 2005 (the “Effective Date”).
WHEREAS effective March 21, 2005, you and the Company entered into a Retention Agreement anticipating that your employment with the Company would ultimately end as a direct or indirect result of a sale by Allied Capital Corporation of the majority of its commercial real estate finance business to a third party;
WHEREAS that sale has occurred and you and the Company want to continue your employment under the same terms and conditions as existed prior to the Retention Agreement;
NOW, THEREFORE, in consideration of the promises and the mutual agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties agree as follows:
