Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.

On June 17, 2009, PMC Commercial Trust (the "Company") renewed the employment contracts of each of its executive officers, by entering into renewal employment contracts with Lance B. Rosemore, Chief Executive Officer and President, Jan F. Salit, Chief Operating Officer and Barry N. Berlin, Chief Financial Officer (the "Employment Contracts").

Each Employment Contract provides for an initial term that commenced on June 17, 2009 and expires on June 30, 2012. By its terms, each Employment Contract automatically renews for successive one-year periods, unless earlier terminated by either the Company or the executive by written notice to the other, at least 60 days prior to the end of the then-current employment term. Each Employment Contract provides for various payments to the executive. This summary description of the Employment Contracts is qualified in its entirety by the Form of Executive Employment Contract, which is attached hereto as Exhibit 10.1 and incorporated herein by this reference.

Item 9.01. Financial Statements and Exhibits.

Exhibits:

10.1 Form of Executive Employment Contract

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