Exhibit 10.1

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

Private National Mortgage Acceptance Company, LLC (“PNMAC”) and PennyMac
Financial Services, Inc. (“PFSI”), each having a principal place of business at
3043 Townsgate Road, Westlake Village, CA 91361, and Stanford L. Kurland
(“Executive”) hereby amend the Employment Agreement they made on the 8th day of
December, 2015 (the “Agreement”) as follows:

In Section 2 of the Agreement, the first sentence is amended to
state:  “Executive shall be employed by PNMAC as the Executive Chairman of PFSI,
and shall perform the usual and customary duties of such office.”

All other provisions, terms and conditions of the Agreement remain unchanged and
in full force and effect.

In Witness Whereof, the parties hereto have executed this First Amendment to the
Agreement as of April 5, 2017.

 

 

PRIVATE NATIONAL mORTGAGE ACCEPTANCE COMPANY, LLC:

PENNYMAC FINANCIAL SERVICES, INC.:

 

 

By: /s/ Jeffrey P. Grogin

By: /s/ Jeffrey P. Grogin

Name: Jeffrey P. Grogin

Name: Jeffrey P. Grogin

Title: Senior Managing Director and Chief Administrative and Legal Officer

Title: Senior Managing Director and Chief Administrative and Legal Officer

 

 

 

Executive

 

 

 

/s/ Stanford L. Kurland

 

Stanford L. Kurland

 

4846-0558-2403 

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