Chief Financial Officer Employment Agreement

EXHIBIT 10.41


FIRST MARBLEHEAD FIRST MARBLEHEAD EDUCATION RESOURCES
Park Square Building
31 St. James Avenue
Boston, MA 02116
Tel 617-422-8820 or 866-266-FMER
Fax 617-426-7114


April 10, 2003


Mr. Donald Peck 58 North Street Lexington, Massachusetts 02420


Dear Don:


First Marblehead is pleased to offer you the position of Chief Financial Officer. Your primary responsibilities will be to manage the day to day activities of FMC's Finance function, to shape and staff the function so it is in a position to provide needed information and services on a timely basis to management, our Board and external parties, and to contribute to the overall strategic direction of FMC through active participation as a member of Management Committee. I understand you can start these duties as soon as you are able to relinquish any current outside responsibilities and that you plan to start with FMC on April 14, 2003..


Your compensation will include direct annual cash compensation of $250,000, paid on a twice-monthly basis. You will also receive annual cash incentive compensation in the amount of 30% of salary (the "Target Bonus"), pending the establishment (in the first three months of your emplo ...