Exhibit 10.2
AMENDMENT NO. 1 TO AMENDED AND RESTATED
PRESIDENT EMPLOYMENT AGREEMENT
This Amendment No. 1 (this “
Amendment ”) to the Amended and Restated
President Employment Agreement, dated December 15, 2008
(the “ Employment Agreement ”), is
entered into as of this 7th day of May, 2009, by and between Thomas
Weisel Partners Group Inc. (“ TWP ”) and
Lionel F. Conacher (“ Conacher ”), in his
individual capacity.
WHEREAS, TWP and Conacher have
previously entered into the Employment Agreement, a copy of which
is attached hereto as Annex A;
WHEREAS, pursuant to section 4(a) of
the Employment Agreement, Conacher’s annualized base salary
is U.S. $200,000 (the “ Original Base Salary
”); and
WHEREAS, Conacher and TWP agreed, in
response to the 2008 business and economic climate and in
conjunction with firm-wide base salary reductions of 10% for
employees above a certain level, to similarly reduce
Conacher’s annualized base salary by 10% to U.S. $180,000
(the “ Reduced Base Salary ”).
NOW, THEREFORE, in consideration of
the premises, the sufficiency of which is hereby acknowledged, TWP
and Conacher hereby agree as follows:
1. Base Salary
. Conacher and TWP hereby ratify and affirm the reduction to
Conacher’s annualized base salary by 10% from the Original
Base Salary to the Reduced Base Salary. The Reduced Base
Salary will be in effect commencing on Janua
