Wilshire Real Estate Investment Trust Inc Sample Contracts

Fog Cutter Capital Group Inc – EMPLOYMENT AGREEMENT (July 25th, 2006)

EMPLOYMENT AGREEMENT, dated as of June 1, 2006 (the “Employment Agreement”), by and between Fog Cutter Capital Group Inc. (the “Company”), with its principal office at 1410 S.W. Jefferson Street, Portland, Oregon 97201 and R. Scott Stevenson, residing at 14144 Kimberly Circle, Lake Oswego, Oregon 97035 (the “Executive”).

Fog Cutter Capital Group Inc – EMPLOYMENT AGREEMENT (July 25th, 2006)

EMPLOYMENT AGREEMENT, dated as of June 1, 2006 (the “Agreement”), by and between Fog Cutter Capital Group Inc. (the “Company”), with its principal office at 1410 S.W. Jefferson Street, Portland, Oregon 97201 and Andrew A. Wiederhorn, residing at 4311 S.W. Greenleaf Drive, Portland, Oregon 97221 (the “Executive”).

Fog Cutter Capital Group Inc – AMENDMENT NO. 2 TO THE FOG CUTTER LONG TERM VESTING TRUST (March 30th, 2005)

Amendment No. 2 to the Fog Cutter Long Term Vesting Trust Agreement dated as of May 26, 2004 (the “Amendment”), between Fog Cutter Capital Group Inc., a Maryland corporation and the successor in interest to Wilshire Real Estate Investments Inc. (the “Company”), and David Dale-Johnson, Don H. Coleman and Andrew Wiederhorn (hereinafter referred to, individually and collectively, as the “Trustee” or “Trustees”) to the Fog Cutter Long Term Vesting Trust Agreement made as of the 1st day of October, 2000 by and between the Company and the Trustees, as amended from time to time (the “Trust Agreement”).

Fog Cutter Capital Group Inc – AMENDMENT TO LONG TERM VESTING TRUST (March 30th, 2005)

AMENDMENT TO LONG TERM VESTING TRUST, dated as of September 19, 2002 (this “Amendment”), by and between Fog Cutter Capital Group Inc. (the “Company”) and Andrew A. Wiederhorn, Don Coleman and David Dale-Johnson (hereinafter referred to, individually and collectively, as the “Trustee” or “Trustees”).

Fog Cutter Capital Group Inc – AMENDMENT NO 1 TO RIGHTS AGREEMENT dated as of May 1, 2004 between FOG CUTTER CAPITAL GROUP INC. and THE BANK OF NEW YORK as Rights Agent (March 30th, 2005)

AMENDMENT NO 1 TO RIGHTS AGREEMENT, dated as of May 1, 2004 (the “Amendment”), between FOG CUTTER CAPITAL GROUP INC., a Maryland corporation (the “Corporation”) and THE BANK OF NEW YORK, a New York banking corporation (the “Rights Agent”) to the Rights Agreement, dated as of October 18, 2002 (the “Rights Agreement”), between the Corporation and the Rights Agent.

Fog Cutter Capital Group Inc – FOG CUTTER CAPITAL GROUP INC. TO APPEAL NASDAQ STAFF DETERMINATION (August 13th, 2004)

Portland OR — July 20, 2004 —Fog Cutter Capital Group Inc. (Nasdaq: FCCG) today announced that Nasdaq had notified the company of a staff determination to de-list Fog Cutter from the Nasdaq Stock Market, effective July 29, 2004. Fog Cutter will challenge the staff’s determination and will request an oral hearing by a Listing Qualifications Panel to review the staff’s error. Fog Cutter will continue to be listed on the Nasdaq Stock Market while the Listing Qualifications Panel’s decision is pending.

Fog Cutter Capital Group Inc – LEAVE OF ABSENCE AGREEMENT (June 4th, 2004)

LEAVE OF ABSENCE AGREEMENT, dated as of June 2, 2004 (the “Leave of Absence Agreement”), by and between Fog Cutter Capital Group Inc. (the “Company”), with its principal office at 1410 S.W. Jefferson Street, Portland, Oregon 97201 and Andrew A. Wiederhorn (the “Mr. Wiederhorn”).

Fog Cutter Capital Group Inc – EMPLOYMENT AGREEMENT (February 11th, 2004)

EMPLOYMENT AGREEMENT, dated as of December 1, 2003 (the “Employment Agreement”), by and between Fog Cutter Capital Group Inc. (the “Company”), with its principal office at 1410 S.W. Jefferson Street, Portland, Oregon 97201 and Robert G. Rosen (the “Executive”).

Fog Cutter Capital Group Inc – EMPLOYMENT AGREEMENT (August 13th, 2003)

EMPLOYMENT AGREEMENT, dated as of June 30, 2003 (the “Employment Agreement”), by and between Fog Cutter Capital Group Inc. (the “Company”), with its principal office at 1410 S.W. Jefferson Street, Portland, Oregon 97201 and R. Scott Stevenson, residing at 14144 Kimberly Circle, Lake Oswego, Oregon 97035 (the “Executive”).

Fog Cutter Capital Group Inc – EMPLOYMENT AGREEMENT (August 13th, 2003)

EMPLOYMENT AGREEMENT, dated as of June 30, 2003 (the “Agreement”), by and between Fog Cutter Capital Group Inc. (the “Company”), with its principal office at 1410 S.W. Jefferson Street, Portland, Oregon 97201 and Andrew A. Wiederhorn, residing at 4311 S.W. Greenleaf Drive, Portland, Oregon 97221 (the “Executive”).

Fog Cutter Capital Group Inc – FOG CUTTER LONG TERM VESTING TRUST (March 3rd, 2003)

This Trust Agreement made as of the lst day of October, 2000 by and between Wilshire Real Estate Investments Inc. (the "Company") and Lawrence Mendelsohn, Andrew Wiederhorn and David Egelhoff (hereinafter referred to, individually and collectively, as the "Trustee" or "Trustees").

Fog Cutter Capital Group Inc – STOCK OPTION AND VOTING AGREEMENT (August 15th, 2002)

EXHIBIT 2.1 WAIVER, RELEASE, DELEGATION AND AMENDMENT TO STOCK OPTION AND VOTING AGREEMENT This Waiver, Release, Delegation and Amendment to Stock Option and Voting Agreement ("WAIVER AND AMENDMENT"), dated as of July 31, 2002, is made between Andrew A. Wiederhorn ("GRANTOR"), as Grantor under the "Original Agreement" (as such term is defined herein), Lawrence A. Mendelsohn ("Agent"), as Agent of the Stockholders under the Original Agreement, MFLP, L.P., RPM Capital, LLC, AIM Capital, LLC, S&S Investors, LLC ("S&S"), and Joyce Mendelsohn (Lawrence A. Mendelsohn, MFLP, L.P., RPM Capital, LLC, AIM Capital, LLC, S&S and Joyce Mendelsohn collectively the "STOCKHOLDERS"), and Tiffany Wiederhorn, as guarantor with respect to certain obligations ("GUARANTOR") (Grantor, Stockholders and Guarantor collectively the "Original Parties") and F

Fog Cutter Capital Group Inc – AMENDED AND RESTATED EMPLOYMENT AGREEMENT (March 22nd, 2002)

Exhibit 10.11 [EXECUTION COPY] AMENDED AND RESTATED EMPLOYMENT AGREEMENT EMPLOYMENT AGREEMENT, dated as of September 4, 1999 (the "Original Agreement Date"), and amended and restated as of October 1, 2000, and subsequently amended and restated as of December 31, 2001, by and between Fog Cutter Capital Group Inc. f/k/a Wilshire Real Estate Investment Inc. and Fog Cap L.P. f/k/a Wilshire Real Estate Partnership L.P. (collectively and individually, the "Company"), with its principal office at 1410 S.W. Jefferson Street, Portland, Oregon 97201 and Lawrence A. Mendelsohn, residing at 02393 SW Military Road, Portland, Oregon 97219 (the "Executive"). W I T N E S S E T H: - - - - - - - - - - WHEREAS, Executive is currently employed as the President of the Com

Fog Cutter Capital Group Inc – AMENDED AND RESTATED EMPLOYMENT AGREEMENT (March 22nd, 2002)

Exhibit 10.10 [EXECUTION COPY] AMENDED AND RESTATED EMPLOYMENT AGREEMENT EMPLOYMENT AGREEMENT, dated as of September 4, 1999 (the "Original Agreement Date"), and amended and restated as of October 1, 2000, and subsequently amended and restated as of December 31, 2001, by and between Fog Cutter Capital Group Inc. f/k/a Wilshire Real Estate Investment Inc. and Fog Cap L.P. f/k/a Wilshire Real Estate Partnership L.P. (collectively and individually, the "Company"), with its principal office at 1410 S.W. Jefferson Street, Portland, Oregon 97201 and Andrew A. Wiederhorn, residing at 4311 SW Greenleaf Drive, Portland, Oregon 97221 (the "Executive"). W I T N E S S E T H: - - - - - - - - - - WHEREAS, Executive is currently employed as the Chief Executive Officer

Fog Cutter Capital Group Inc – EMPLOYMENT AGREEMENT (March 22nd, 2002)

Exhibit 10.12 EXECUTION COPY EMPLOYMENT AGREEMENT EMPLOYMENT AGREEMENT, dated as of October 9, 1999 (the "Original Agreement Date"), amended as of May 19, 2000, and amended again as of July 27, 2000 and amended and restated as of October 1, 2000, and subsequently amended and restated as of October 1, 2001, by and between Fog Cutter Capital Group Inc. f/k/a Wilshire Real Estate Investment Inc. and Fog Cap L.P. f/k/a Wilshire Real Estate Partnership L.P. (collectively and individually, the "Company"), with its principal office at 1410 S.W. Jefferson Street, Portland, Oregon 97201 and Robert G. Rosen, residing at 3 Vetere Place, Mt. Kisco, New York 10549 (the "Executive"). W I T N E S S E T H: - - - - - - - - - - WHEREAS, Executive is current

Fog Cutter Capital Group Inc – PROPERTY OPTION AGREEMENT (March 8th, 2002)

EXHIBIT 2.2 PROPERTY OPTION AGREEMENT PROPERTY OPTION AGREEMENT, dated effective March 6, 2002 (this "Agreement"), by and between Fog Cutter Capital Group Inc., a Maryland corporation (the "Company"), and the individuals indicated on the signature page(s) and listed on Schedule 1 hereto (collectively, the "Stockholder"), each a stockholder of the Company. WHEREAS, the Stockholder is the owner of the shares of common stock, par value $.0001 per share ("Company Common Stock"), of the Company set forth on Schedule 1 hereto (the "Subject Shares"); and WHEREAS, the Stockholder wishes to sell the Subject Shares for cash and a certain real estate property described herein; and WHEREAS, the Company desires to acquire the Subject Shares, from time to time, in the manner provided herein to prevent any adverse impact on its share price, to acquire shares at a

Fog Cutter Capital Group Inc – LOAN OPTION AGREEMENT (March 8th, 2002)

EXHIBIT 2.1 LOAN OPTION AGREEMENT LOAN OPTION AGREEMENT, dated effective January 10, 2002 (this "Agreement"), by and between Fog Cutter Capital Group Inc., a Maryland corporation (the "Company") and the entities indicated on the signature page(s) and listed on Schedule 1 hereto (collectively, the "Stockholder"), each a stockholder of the Company. WHEREAS, the Stockholder is the owner of the shares of common stock, par value $.0001 per share ("Company Common Stock"), of the Company set forth on Schedule 1 hereto (the "Subject Shares"); and WHEREAS, the Stockholder wishes to sell the Subject Shares for cash and/or all or a portion of a certain real estate loan; and WHEREAS, the Company desires to acquire the Subject Shares, from time to time, in the manner provided herein to prevent any adverse impact on its share price, to acquire shares at a disc

Fog Cutter Capital Group Inc – MEDIUM TERM PARTICIPATION AGREEMENT (March 8th, 2002)

EXHIBIT 2.3 MEDIUM TERM PARTICIPATION AGREEMENT Fog Cap L.P. ("the Bank") hereby offers to ( See attached Schedule 1) ("the Participant") a participation in respect of the Loan (as hereinafter defined) upon the terms and conditions set out overleaf and by its execution hereof the Participant hereby accepts such offer. /s/ R. Scott Stevenson (SEE ATTACHED SIGNATURE PAGE) ------------------------------------ ------------------------------------ for and on behalf of the Bank for and on behalf of the Participant Date of signature by the Participant: March 6, 2002 Address of Participant: (SEE ATTACHED SCHEDULE 1) ------------------------ Attention: Jordan D. Schnitzer Telephone:

Fog Cutter Capital Group Inc – AGREEMENT (December 4th, 2001)

DATED 19TH NOVEMBER 2001 (1) WREP ISLANDS LIMITED (2) THE ANGLO AGGMORE LIMITED PARTNERSHIP AGREEMENT FOR THE SALE AND PURCHASE OF A PROPERTY IN NANTWICH REFERENCE GMR/01-36556 [GRAPHIC OMITTED] RICHARDS BUTLER INTERNATIONAL LAW FIRM AGREEMENT dated 19th November 2001 BETWEEN: (1) WREP ISLANDS LIMITED (a company registered in the British Virgin Islands with registration number 280400) whose registered office is at Akara Building, 24 de Castro Street, Wickhams Cay, Road Town, Tortola, British Virgin Islands (the "SELLER") (2) THE ANGLO AGGMORE LIMITED PARTNERSHIP whose place of business is at 10 Old Jewry Street, London EC2R 8DN (the "BUYER") 1 SALE OF THE PROPERTY The Seller will sell and the Buyer will buy the freehold property

Fog Cutter Capital Group Inc – EMPLOYMENT AGREEMENT (March 16th, 2001)

EXHIBIT 10.10 EMPLOYMENT AGREEMENT EMPLOYMENT AGREEMENT, dated as of September 4, 1999 (the "Original Agreement Date"), and amended and restated as of October 1, 2000, by and between Wilshire Real Estate Investment Inc. and Wilshire Real Estate Partnership L.P. (collectively and individually, the "Company"), with its principal office at 1631 SW Columbia Street, Portland, Oregon 97201 and Andrew A. Wiederhorn, residing at 4311 SW Greenleaf Drive, Portland, Oregon 97221 (the "Executive"). W I T N E S S E T H: - - - - - - - - - - WHEREAS, Executive is currently employed as the Chief Executive Officer of the Company and is also the Chairman of the Board and a director of the Company; and WHEREAS, the Company and Executive desire to enter into this agreement (the "Agreement") to set f

Fog Cutter Capital Group Inc – EMPLOYMENT AGREEMENT (March 16th, 2001)

EXHIBIT 10.11 EMPLOYMENT AGREEMENT EMPLOYMENT AGREEMENT, dated as of September 4, 1999 (the "Original Agreement Date"), and amended and restated as of October 1, 2000, by and between Wilshire Real Estate Investment Inc. and Wilshire Real Estate Partnership L.P. (collectively and individually, the "Company"), with its principal office at 1631 SW Columbia Street, Portland, Oregon 97201 and Lawrence A. Mendelsohn, residing at 02393 SW Military Road, Portland, Oregon 97219 (the "Executive"). W I T N E S S E T H: - - - - - - - - - - WHEREAS, Executive is currently employed as the President of the Company and is also a director of the Company; and WHEREAS, the Company and Executive desire to enter into this agreement (the "Agreement") to set forth terms of Executive's employment by the

Fog Cutter Capital Group Inc – EMPLOYMENT AGREEMENT (March 16th, 2001)

EXHIBIT 10.12 EMPLOYMENT AGREEMENT EMPLOYMENT AGREEMENT, dated as of October 9, 1999 (the "Original Agreement Date"), amended as of May 19, 2000 and again as of July 27, 2000, and subsequently amended and restated as of October 1, 2000, by and between Wilshire Real Estate Investment Inc. and Wilshire Real Estate Partnership L.P. (collectively and individually, the "Company"), with its principal office at 1631 SW Columbia Street, Portland, Oregon 97201 and Robert G. Rosen, residing at 3 Vetere Place, Mt. Kisco, New York 10549 (the "Executive"). W I T N E S S E T H: - - - - - - - - - -- WHEREAS, Executive is currently employed as an executive of the Company; and WHEREAS, the Company and Executive desire to enter into this agreement (the "Agreement") to set forth terms of Executive's employment b

Wilshire Real Estate Investment Trust Inc – REAL ESTATE PURCHASE AND SALE AGREEMENT (October 25th, 2000)

EXHIBIT 2.1 REAL ESTATE PURCHASE AND SALE AGREEMENT (MILWAUKIE AND SALEM - JOE'S PORTFOLIO PROPERTIES) This REAL ESTATE PURCHASE AND SALE AGREEMENT (the "AGREEMENT") is entered into as of this 28TH day of JULY, 2000, by and among WREP 1998-1 LLC, a Delaware limited liability company (the "SELLER"), and WATUMULL PROPERTIES CORP., a(n) HAWAIIAN corporation (the "PURCHASER"), and the execution of this Agreement has been approved and joined into by WILSHIRE REAL ESTATE PARTNERSHIP L.P., a Delaware limited partnership ("WREP"), and WREP-1998-1 MEMBER INC., a Delaware corporation ("WREP MEMBER"), for the purposes stated in this Agreement. RECITALS: A. Seller owns fee title to certain real property (the "LAND"), the legal descriptions of which are attached as EXHIBIT A-1 (each parcel of the Land, together with all improvements l

Wilshire Real Estate Investment Trust Inc – REAL ESTATE PURCHASE AND SALE AGREEMENTS (October 25th, 2000)

EXHIBIT 2.3 AMENDMENT TO REAL ESTATE PURCHASE AND SALE AGREEMENTS THIS AMENDMENT TO REAL ESTATE PURCHASE AND SALE AGREEMENTS (this "Amendment") is made and entered into as of this 6th day of October, 2000 by and among WREP 1998-1 LLC, a Delaware limited liability company ("Seller"), MADRONA PARK LLC, an Oregon limited liability company ("Madrona Park"), MADRONA PARK II, LLC, a Delaware limited liability company ("Madrona Park II) and WATUMULL G. I. JOES, LLC, an Oregon limited liability company ("Watumull"). The execution of this Agreement has been approved and joined into by WILSHIRE REAL ESTATE PARTNERSHIP L.P., a Delaware limited partnership ("WREP") and WREP-1998-1 Member Inc., a Delaware corporation ("WREP Member"), for the purposes stated in the original Agreements. A. On or about Jul

Wilshire Real Estate Investment Trust Inc – REAL ESTATE PURCHASE AND SALE AGREEMENT (October 25th, 2000)

EXHIBIT 2.2 REAL ESTATE PURCHASE AND SALE AGREEMENT (TUALATIN, WILSONVILLE, AND GRESHAM - JOE'S PORTFOLIO PROPERTIES) This REAL ESTATE PURCHASE AND SALE AGREEMENT (the "AGREEMENT") is entered into as of this 28TH day of JULY, 2000, by and among WREP 1998-1 LLC, a Delaware limited liability company (the "SELLER"), and MADRONA PARK L.L.C., an Oregon limited liability company (the "PURCHASER"), and the execution of this Agreement has been approved and joined into by WILSHIRE REAL ESTATE PARTNERSHIP L.P., a Delaware limited partnership ("WREP"), and WREP-1998-1 MEMBER INC., a Delaware corporation ("WREP MEMBER"), for the purposes stated in this Agreement. RECITALS: A. Seller owns fee title to or (as to the Gresham property) a ground leasehold estate in certain real property (the "LAND"), the legal descriptions of which are attached

Wilshire Real Estate Investment Trust Inc – AGREEMENT (August 10th, 2000)

Exhibit 10.3 AGREEMENT The parties to this Agreement, dated this 1 day of June, 2000, are Wilshire Real Estate Investment Inc. and Wilshire Real Estate Partnership L.P. (collectively or individually, Company), and Richard P. Brennan (Brennan). RECITALS A. The parties have mutually agreed to terminate Brennan's Employment Agreement dated October 9, 1999, effective immediately. B. The parties desire to continue Brennan's employment through June 30, 2000, and maintain a consulting relationship through October 31, 2000. C. Brennan elects to receive compensation and related benefits under this Agreement under the terms and conditions set forth below. Therefore, in consideration of the mutual p

Wilshire Real Estate Investment Trust Inc – WHEREAS, the Company and the Executive desire to amend the Employment Agreement. (August 10th, 2000)

Exhibit 10.2 SECOND AMENDEMENT made as of the 27th of July, 2000 to the Employment Agreement dated as of October 9, 1999 by and between Wilshire Real Estate Investment Inc. and Wilshire Real Estate Partnership L.P. (together and individually, the "Company"), and Robert G. Rosen (the "Executive"). W I T N E S S E T H: WHEREAS, the Company and the Executive have previously entered into the Employment Agreement; and the First Amendment dated as of May 19, 2000, and WHEREAS, the Company and the Executive desire to amend the Employment Agreement. NOW, THEREFORE, the parties hereto agree as follows: 1. The Employment Agreement is amended effective as of the date hereof as follows: The last sentence of Section 1 of the Employment Agreement is amended by changing the words "at least ninety (90) days" to "at least thirty (30) days" IN WITN

Wilshire Real Estate Investment Trust Inc – EMPLOYMENT AGREEMENT (March 24th, 2000)

Exhibit 10.12 [EXECUTION COPY] EMPLOYMENT AGREEMENT EMPLOYMENT AGREEMENT, dated as of October 9, 1999, by and between Wilshire Real Estate Investment Inc. and Wilshire Real Estate Partnership L.P. (together or individually, the "Company"), with its principal office at 1310 SW 17th Street, Portland, Oregon 97201 and Chris Tassos, residing at 994 Country Commons Lane, Lake Oswego, Oregon 97034 (the "Executive"). W I T N E S S E T H: WHEREAS, Executive is currently employed as an executive of the Company; and WHEREAS, the Company and Executive desire to enter into this agreement (the "Agreement") to set forth terms of Executive's employment by the Company. NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and

Wilshire Real Estate Investment Trust Inc – EMPLOYMENT AGREEMENT (March 24th, 2000)

EMPLOYMENT AGREEMENT EMPLOYMENT AGREEMENT, dated as of September 4, 1999, by and between Wilshire Real Estate Investment Inc. and Wilshire Real Estate Partnership L.P. (collectively and individually, the "Company"), with its principal office at 1310 SW 17th Street, Portland, Oregon 97201 and Lawrence A. Mendelsohn, residing at 02393 SW Military Road, Portland, Oregon 97219 (the "Executive"). W I T N E S S E T H: WHEREAS, Executive is currently employed as the President of the Company and is also a director of the Company; and WHEREAS, the Company and Executive desire to enter into this agreement (the "Agreement") to set forth terms of Executive's employment by the Company. NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and for other good and valuable consideration, the parties agree as follows: 1. TERM OF EMPLOYMENT. Except fo

Wilshire Real Estate Investment Trust Inc – EMPLOYMENT AGREEMENT (March 24th, 2000)

Exhibit 10.13 [EXECUTION COPY] EMPLOYMENT AGREEMENT EMPLOYMENT AGREEMENT, dated as of October 9, 1999, by and between Wilshire Real Estate Investment Inc. and Wilshire Real Estate Partnership L.P. (collectively and individually, the "Company"), with its principal office at 1310 SW 17th Street, Portland, Oregon 97201 and Robert G. Rosen, residing at 1623 Glenmorrie Drive, Lake Oswego, Oregon 97034 (the "Executive"). W I T N E S S E T H: WHEREAS, Executive is currently employed as an executive of the Company; and WHEREAS, the Company and Executive desire to enter into this agreement (the "Agreement") to set forth terms of Executive's employment by the Company. NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and

Wilshire Real Estate Investment Trust Inc – EMPLOYMENT AGREEMENT (March 24th, 2000)

Exhibit 10.10 EMPLOYMENT AGREEMENT EMPLOYMENT AGREEMENT, dated as of September 4, 1999, by and between Wilshire Real Estate Investment Inc. and Wilshire Real Estate Partnership L.P. (collectively and individually, the "Company"), with its principal office at 1310 SW 17th Street, Portland, Oregon 97201 and Andrew A. Wiederhorn, residing at 4311 SW Greenleaf Drive, Portland, Oregon 97221 (the "Executive"). W I T N E S S E T H: WHEREAS, Executive is currently employed as the Chief Executive Officer of the Company and is also the Chairman of the Board and a director of the Company; and WHEREAS, the Company and Executive desire to enter into this agreement (the "Agreement") to set forth terms of Executive's employment by the Company. NOW, THEREFORE, in consideration of the premises and mutual covenants contained here

Wilshire Real Estate Investment Trust Inc – EMPLOYMENT AGREEMENT (March 24th, 2000)

Exhibit 10.14 EMPLOYMENT AGREEMENT EMPLOYMENT AGREEMENT, dated as of October 9, 1999, by and between Wilshire Real Estate Investment Inc. and Wilshire Real Estate Partnership L.P. (together or individually, the "Company"), with their principal office at 1310 SW 17th Street, Portland, Oregon 97201 and Richard Brennan, residing at 178 Stanwich Road, Greenwich, Connecticut 06830 (the "Executive"). W I T N E S S E T H: WHEREAS, Executive is currently employed as an executive of the Company; and WHEREAS, the Company and Executive desire to enter into this agreement (the "Agreement") to set forth terms of Executive's employment by the Company. NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and for other good and valuable consideration, the parties agree as follows:

Wilshire Real Estate Investment Trust Inc – 1998 STOCK OPTION PLAN (January 6th, 2000)

WILSHIRE REAL ESTATE INVESTMENT TRUST INC. 1998 STOCK OPTION PLAN TABLE OF CONTENTS ----------------- ARTICLE I. PURPOSE.........................................................1 ARTICLE II. DEFINITIONS.....................................................1 ARTICLE III. ADMINISTRATION..................................................4 ARTICLE IV. SHARES AND OTHER LIMITATIONS....................................7 ARTICLE V. ELIGIBILITY.....................................................9 ARTICLE VI. STOCK OPTIONS...................................................9 ARTICLE VII. STOCK APPRECIATION RIGHTS......................................11 ARTICLE VIII. RESTRICTED STOCK...............................................13 ARTICLE IX. INDEPENDENT DIRECTOR AND NONEMPLOYEE DIRECTOR STOCK OPTIONS......................

Wilshire Real Estate Investment Trust Inc – SETTLEMENT AGREEMENT (December 20th, 1999)

Exhibit 4.(4) SETTLEMENT AGREEMENT -------------------- This Settlement Agreement (this "Agreement") is made as of December 10, 1999 by and between Wilshire Real Estate Investment Inc., a Maryland corporation, on behalf of itself and all of its subsidiaries and affiliates ("WREI"), Andrew A. Wiederhorn, Lawrence A. Mendelsohn, on the one hand, and Wilshire Financial Services Group Inc., a Delaware corporation, on behalf of itself and all of its subsidiaries and affiliates, other than First Bank of Beverly Hills, F.S.B. ("WFSG"), on the other hand. RECITALS -------- A. WFSG, by itself and through its subsidiaries, and WREI, by itself and through its subsidiaries, are and/or have been parties to various agreements (the interpretation, enforceability or validity of some of which a

Wilshire Real Estate Investment Trust Inc – AMENDMENT NO. 1 TO MANAGEMENT AGREEMENT (August 16th, 1999)

AMENDMENT NO. 1 TO MANAGEMENT AGREEMENT THIS AMENDMENT NO. 1 TO MANAGEMENT AGREEMENT, dated as of April 6, 1998 by and between WILSHIRE REAL ESTATE INVESTMENT TRUST INC., a Maryland corporation ("WREIT" and, together with its subsidiaries and partnerships, and as the general partner of Wilshire Real Estate Partnership, L.P., a Delaware limited partnership (the "Company")), and WILSHIRE REALTY SERVICES CORPORATION, a Delaware corporation (the "Manager"); WITNESSETH: WHEREAS, the Management Agreement dated as of April 6, 1998 (the "Management Agreement") between WREIT and the Manager defined Primary Investments by reference to WREIT's preliminary prospectus dated March 13, 1998 and various parties have suggested that such definition is ambiguous; and WHEREAS, the formula set forth in Section 9(b) of the Management Agreement contains a typographical error; and WHEREAS, the parties to the Management Agre