Exhibit 10.1
AMENDMENT AND
WAIVER
THIS AMENDMENT AND WAIVER
(“Amendment and Waiver”) is being executed as of
November 16, 2006 by National Financial Partners Corp.
(“NFP”) and Jessica M. Bibliowicz (the
“Executive”).
WHEREAS, NFP and the Executive are
parties to an Employment Agreement, dated as of April 5, 1999 and
amended and restated as of February 15, 2005 (the “Employment
Agreement”);
WHEREAS, pursuant to Section
3(c)(ii) of the Employment Agreement, on each of the first and
second anniversaries of February 15, 2005 (the “Commencement
Date”), the Executive is entitled to receive an award with
respect to Common Stock (each, a “Type 1 Annual
Award”);
WHEREAS, the Executive and
NFP’s Compensation Committee determined to grant the
Executive’s Type 1 Annual Awards at the same time as the
Compensation Committee granted equity awards to NFP’s other
executive officers so that all of the grantees would receive an
award on the same schedule and at the same Common Stock price. As
such, the Type 1 Annual Award that should have been granted on
February 15, 2006 was granted on November 16, 2005 and the Type 1
Annual Award that should be granted on February 15, 2007 will be
granted on November 16, 2006;
WHEREAS, NFP and the Executive wish
to amend the Employment Agreement to reflect the
foregoing;
WHEREAS, pursuant to Section
3(c)(iii) of the Employment Agreement, on the Commencement Date and
each of the first and second anniversaries of the Commencement
Date, the Executive is entitled to receive an award of 50,000
restricted shares or restricted
