nyoung-amendmenttoemploy






    1    AMENDMENT TO EMPLOYMENT AGREEMENT    This AMENDMENT TO EMPLOYMENT AGREEMENT (“Amendment”) is dated  as of August 2, 2022 (the “Execution Date”), by and between Newtek Business Services Corp., a  corporation formed under the laws of the State of Maryland (the “Company”) and Nicolas Young   (the “Executive”).    WHEREAS, the Company and Executive entered into an Employment Agreement dated  as of August 2, 2021, pursuant to which the Executive is employed by the Company as the  Company’s Chief Risk Officer (the “Employment Agreement”);    WHEREAS, Section 17 of the Employment Agreement allows the Company and  Executive to amend the Employment Agreement; and    WHEREAS, Company and Executive desire to amend the Employment Agreement.    NOW THEREFORE, in consideration of the mutual promises contained herein and other  good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,  the Company and Executive agree to amend the Employment Agreement, as follows:    1. Section 6 is deleted in its entirety and replaced with the following:    Term. The Company hereby employs the Executive, and the Executive hereby  accepts such employment, subject to the terms and conditions of this Agreement,  for the period commencing on the Effective Date and ending on December 31,  2022, or such earlier date as is determined in accordance with Section 11 (the  “Term”).    This Amendment shall be effective as of the Execution Date.    This Amendment shall be interpreted and enforced in accordance with the laws governing  the Agreement, and the parties hereto agree to resolve any issues arising from this Amendment in  accordance with the terms of the Employment Agreement.     This Amendment may be executed in one or more counterparts, each of which shall be  deemed an original, and all of which shall constitute one and the same Amendment and shall  become effective when one or more counterparts have been signed by each of the parties hereto  and delivered to the other parties hereto; it being understood and agreed that all parties hereto  need not sign the same counterpart. The delivery by facsimile or by electronic delivery in PDF  format of this Amendment with all executed signature pages (in counterparts or otherwise) shall  be sufficient to bind the parties hereto to the terms and conditions set forth herein. All of the  counterparts will together constitute one and the same instrument, and each counterpart will  constitute an original of this Amendment.    Except as specifically amended by this Amendment, the terms and conditions of the  Employment Agreement shall remain in full force and effect as written. In the event of any  





 






 -2-    conflict between this Amendment and the Employment Agreement, the provisions of this  Amendment shall control for all purposes.    The Employment Agreement, as amended by this Amendment, constitutes the entire  agreement and understanding between the Company and the Executive concerning the subject  matter hereof and supersedes all oral communication and prior writings with respect thereto. No  further amendment, modification or waiver in respect of the matters contemplated by this  Amendment will be effective unless made in accordance with the terms of the Employment  Agreement.    IN WITNESS WHEREOF, the parties hereto have executed or have caused this  Amendment to be duly executed in counterparts all as of the day and year first above written.    [signature page follows] 





 






[Signature page to Amendment to Employment Agreement]    NEWTEK BUSINESS SERVICES CORP.    By:    Barry Sloane  Chief Executive Officer             EXECUTIVE             By: ___________________________          Nicolas Young