Employment Period Uses in Annual Base Salary Clause

Annual Base Salary from Agreement

This EMPLOYMENT AGREEMENT is made and entered into this 13th day of February, 2007, between Capital Lease Funding, Inc., a Maryland corporation (the "Company"), and Paul C. Hughes (the "Executive").

Annual Base Salary. During the Employment Period, the Company shall pay to the Executive an annual base salary of $215,000 (less all applicable deductions, the "Base Salary") for all services rendered by the Executive to the Company. The Base Salary shall be payable in equal installments in accordance with the practice of the Company in effect from time to time for the payment of salaries to officers of the Company. The Executive's Base Salary shall be reviewed annually by the Compensation Committee of the Board of Directors (the "Compensation Committee"). During the Employment Period and as of each anniversary of the Effective Date, the Base Salary shall be increased by (i) the product of (A) the Base Salary as then in effect and (B) the percentage increase in the Consumer Price Index for the prior calendar year (as defined in Section 14(c)) and (ii) the amount, if any, determined by the Compensation Committee.

Annual Base Salary from Employment Agreement

This EMPLOYMENT AGREEMENT is made and entered into this 24th day of March, 2004, between Capital Lease Funding, Inc., a Maryland corporation (the "Company"), and [Paul H. McDowell/William R. Pollert/Shawn P. Seale/Robert C. Blanz/Michael J. Heneghan] (the "Executive").

Annual Base Salary. During the Employment Period, the Company shall pay to the Executive an annual base salary of [McDowell, $300,000, Pollert, $200,000, Seale, $265,000, Blanz, $200,000, and Heneghan, $170,000] (less all applicable deductions, the "Base Salary") for all services rendered by the Executive to the Company. The Base Salary shall be payable in equal installments in accordance with the practice of the Company in effect from time to time for the payment of salaries to officers of the Company. The Executive's Base Salary shall be reviewed annually by the Compensation Committee of the Board of Directors (the "Compensation Committee"). During the Employment Period and as of each anniversary of the Effective Date, the Base Salary shall be increased by (i) the product of (A) the Base Salary as then in effect and (B) the percentage increase in the Consumer Price Index for the prior calendar year (as defined in Section 14(c)) and (ii) the amount, if any, determined by the Compensation Committee.

Annual Base Salary from Employment Agreement

This EMPLOYMENT AGREEMENT is made and entered into this day of March, 2004, between Capital Lease Funding, Inc., a Maryland corporation (the Company), and [Paul H. McDowell/William R. Pollert/Shawn P. Seale/Robert C. Blanz/Michael J. Heneghan] (the Executive).

Annual Base Salary. During the Employment Period, the Company shall pay to the Executive an annual base salary of [McDowell, $300,000, Pollert, $200,000, Seale, $265,000, Blanz, $200,000, and Heneghan, $170,000] (less all applicable deductions, the Base Salary) for all services rendered by the Executive to the Company. The Base Salary shall be payable in equal installments in accordance with the practice of the Company in effect from time to time for the payment of salaries to officers of the Company. The Executives Base Salary shall be reviewed annually by the Compensation Committee of the Board of Directors (the Compensation Committee). During the Employment Period and as of each anniversary of the Effective Date, the Base Salary shall be increased by (i) the product of (A) the Base Salary as then in effect and (B) the percentage increase in the Consumer Price Index for the prior calendar year (as defined in Section 14(c)) and (ii) the amount, if any, determined by the Compensation Committee.

Annual Base Salary from Employment Agreement

THIS EMPLOYMENT AGREEMENT, dated as of December 12, 2002 (the Agreement), is made by and between United States Marine Repair, Inc., a Delaware corporation (the Company), and Alexander J. Krekich (the Executive).

Annual Base Salary. During the Employment Period, the Executive shall receive an Annual Base Salary which (i) is currently in the amount of $275,000 and (ii) may be increased from time to time during the Employment Period hereof in accordance with the Companys practices and procedures regarding employee salaries.

Annual Base Salary from Employment Agreement

This EMPLOYMENT AGREEMENT is made and entered into this day of March, 2004, between Capital Lease Funding, Inc., a Maryland corporation (the Company), and [Paul H. McDowell/William R. Pollert/Shawn P. Seale/Robert C. Blanz/Michael J. Heneghan] (the Executive).

Annual Base Salary. During the Employment Period, the Company shall pay to the Executive an annual base salary of [McDowell, $300,000, Pollert, $200,000, Seale, $265,000, Blanz, $200,000, and Heneghan, $170,000] (less all applicable deductions, the Base Salary) for all services rendered by the Executive to the Company. The Base Salary shall be payable in equal installments in accordance with the practice of the Company in effect from time to time for the payment of salaries to officers of the Company. The Executives Base Salary shall be reviewed annually by the Compensation Committee of the Board of Directors (the Compensation Committee). During the Employment Period and as of each anniversary of the Effective Date, the Base Salary shall be increased by (i) the product of (A) the Base Salary as then in effect and (B) the percentage increase in the Consumer Price Index for the prior calendar year (as defined in Section 14(c)) and (ii) the amount, if any, determined by the Compensation Committee.