This Employment Agreement Amendment involves
Title: AMENDMENT TO EMPLOYMENT AGREEMENT OF BRUCE M. RODGERS
Industry: Investment Services Sector: Financial
AMENDMENT TO EMPLOYMENT AGREEMENT OF BRUCE M. RODGERS
This (“Amendment”) is dated August 30, 2016, (“Effective Date”) to the Employment Agreement dated as of October 22, 2015, by and between LM Funding America, Inc., Delaware incorporated corporation (the “ Company ”), and Bruce M. Rodgers (“ Executive ”).
WHEREAS: Executive has agreed to reduce his or her cash Salary compensation by an amount equal to 30% of the original agreed upon amount pro-rata, commencing on the effective date of this Amendment and continuing thereafter for the duration of the term of the original Employment Agreement at the request of the Board of Directors. This reduction is in connection with cost saving measures and a general reduction of salaries to the Company’s senior management.
NOW THEREFORE: Section 3(a) of the Employment Agreement, titled, “Compensation” is hereby deleted in its entirety and hereby substituted with the following, to read:
(a)The Company agrees to pay to Executive a salary in cash (the “ Salary ”), as compensation for the services to be pe