AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (the “Amendment”) is dated and effective as of January 12, 2026, by and between Donald Poulton (the “Employee”) and Medallion Financial Corp., a Delaware corporation (“Medallion”) and Medallion Bank, a Utah corporation (the “Bank” and together with Medallion, the “Company”).
WHEREAS, the Company and the Employee are parties to that certain Employment Agreement, dated June 27, 2016 (the “Existing Agreement”); and
WHEREAS, the Company and the Employee have agreed, subject to the terms and conditions of this Amendment, that the Existing Agreement be amended to reflect certain agreed upon revisions to the terms of the Existing Agreement.
NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration and with the intention of hereby being legally bound, the parties hereby agree as follows:
1. Defined Terms. Except as otherwise indicated herein, all words and terms defined in the Existing Agreement shall have the same meanings when used herein.
“During the Term, Employee shall serve as the Chief Executive Officer of the Bank reporting to the President of Medallion and the Board of Directors of the Bank.”
3. Limited Effect. Except as expressly amended and modified by this Amendment, the Existing Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms.
4. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Utah.