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

On December 11, 2012, PMC Commercial Trust (the "Company") renewed the employment contracts of its two executive officers, by entering into renewal employment contracts with Jan F. Salit, Chief Executive Officer and Barry N. Berlin, Chief Financial Officer (the "Employment Contracts").

Each Employment Contract provides for an initial term that commenced on December 11, 2012 and expires on December 31, 2015. Each Employment Contract provides for various payments to the executive. This summary description of the Employment Contracts is qualified in its entirety by the executive employment contracts, which are attached hereto as exhibits and incorporated herein by this reference.

Item 9.01. Financial Statements and Exhibits.

Exhibits:

10.1 Executive Employment Contract with Jan F. Salit

10.2 Executive Employment Contract with Barry N. Berlin

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