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THIRD AMENDMENT
TO
AMENDED AND RESTATED MANAGEMENT AGREEMENT
 
This Third Amendment to the Amended and Restated Management Agreement is dated
as of February 24, 2011 (this “Amendment”) and is by and among Resource Capital
Corp., a Maryland corporation (the “Company”), Resource Capital Manager, Inc., a
Delaware corporation (the “Manager”), and Resource America, Inc., a Delaware
corporation (“Resource America”).
 
W I T N E S S E T H:
 
WHEREAS, the Company, the Manager and Resource America are parties to that
certain Amended and Restated Management Agreement dated as of June 30, 2008 (the
“Agreement”), as amended on October 16, 2009 (the “First Amendment”) and August
17, 2010 (the “Second Amendment”);
 
WHEREAS, Section 21 of the Agreement provides that the Agreement may only be
amended by an agreement in writing signed by the parties to the Agreement;
 
WHEREAS, the Company has requested that the Manager and Resource America agree
to amend the Agreement in certain respects as set forth herein and the Manager
and Resource America are agreeable to the same, subject to the terms and
conditions set forth herein.
 
NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration (the receipt and sufficiency of which are hereby acknowledged),
the parties hereto hereby agree as follows.  Capitalized terms used herein and
not otherwise defined shall have the meanings ascribed to them in the Agreement.
 
Section 1. Amendment to Section 8 of the Agreement
 
The following Section 8(k) is hereby added to the Agreement:
 
(k)           In addition to the compensation set forth above in this Section 8,
the Company shall pay Apidos Capital Management, LLC (an affiliate of the
Manager) such fees as are set forth in that certain Services Agreement dated as
of February 24, 2011, among Resource Capital Asset Management, LLC (a subsidiary
of the Company) and Apidos Capital Management, LLC.
 
Section 2. Execution in Counterparts
 
This Amendment may be executed in any number of counterparts, each of which when
so executed shall be deemed to be an original and all of which taken together
shall constitute one and the same agreement.
 

 
 

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In Witness Whereof, the parties hereto have caused this Amendment to be executed
by their respective officers thereunto duly authorized, as of the date first
written above.
 
                                                                       RESOURCE
CAPITAL CORP.
 
 
By:                            
Name: David J. Bryant
Title:   Senior Vice President and ChiefFinancial Officer
 
 
                                     RESOURCE CAPITAL MANAGER, INC.
 
 
By:                            
Name:  Michael S. Yecies
Title:     Senior Vice President, Chief Legal
                     Officer and Secretary
 
 
                              RESOURCE AMERICA, INC.
 
 
By:                          
Name:  Jeffrey F. Brotman
Title:     Executive Vice President
 
 

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