0001038222-04-000018 Sample Contracts

WELLSFORD REAL PROPERTIES, INC 535 Madison Avenue, 26th Floor New York, New York 10022
Wellsford Real Properties Inc • May 6th, 2004 • Real estate investment trusts

This letter confirms our agreement to amend the terms of your Employment Agreement with Wellsford Real Properties, Inc. in accordance with the provisions set forth below (“Amendment”). Capitalized terms not defined in this Amendment shall have meanings ascribed to them in the Employment Agreement.

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YEAR 2004 AMENDMENT TO LOAN AGREEMENT
Loan Agreement • May 6th, 2004 • Wellsford Real Properties Inc • Real estate investment trusts • New York

This Year 2004 Amendment to Loan Agreement (this “Agreement”) is entered into as of April 1, 2004, by and between WELLSFORD/WHITEHALL HOLDINGS, L.L.C., a Delaware limited liability company (“Borrower”), and GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation (“Lender”). This Agreement is made with reference to the following facts:

WELLSFORD REAL PROPERTIES, INC 535 Madison Avenue, 26th Floor New York, New York 10022
Wellsford Real Properties Inc • May 6th, 2004 • Real estate investment trusts

This letter confirms our agreement to amend the terms of your Employment Agreement with Wellsford Real Properties, Inc. in accordance with the provisions set forth below (“Amendment”). Capitalized terms not defined in this Amendment shall have meanings ascribed to them in the Employment Agreement.

WELLSFORD REAL PROPERTIES, INC. 535 Madison Avenue, 26th Floor New York, New York 10022 As of July 1, 2003
Letter Agreement • May 6th, 2004 • Wellsford Real Properties Inc • Real estate investment trusts • New York

We are pleased to offer you employment with Wellsford Real Properties, Inc. (the “Company”). This letter agreement (this “Agreement”) sets forth our understanding regarding your employment.

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