Wilshire Enterpr Inc – Contract (April 22nd, 2005)
Exhibit 10.1 April 18, 2005 Philip G. Kupperman 19706 Bay Cove Drive Boca Raton, Florida 33434 Dear Phil: This letter agreement confirms that Wilshire Enterprises, Inc. ("Wilshire") and you mutually have agreed to terminate your engagement by Wilshire to perform the Consulting Services described in the letter agreement between Wilshire and you dated June 14, 2004 ("Consulting Letter") and sets forth our agreements regarding such termination. Capitalized terms used in this letter agreement and not defined herein, will have the meanings described in the Consulting Letter. 1. Termination of Consulting Services. By our mutual agreement, your engagement to perform the Consulting Services and the Consulting Period shall terminate today, April 13, 2005 ("Termination Date"). By accepting this letter agreement, you acknowledge that (except as otherwise provided herein) you have received all payments and benefits to which you are entitled under the Consulting Letter and that Wilshi
Wilshire Enterpr Inc – Contract (March 31st, 2005)
EXHIBIT 10.33 EMPLOYMENT LETTER BETWEEN THE COMPANY AND SETH H. UGELOW June 1, 2004 Mr. Seth Ugelow 13 Bridle Path Roslyn, NY 11576 Dear Seth: This letter extends an offer of employment with Wilshire Enterprises, Inc., (the "Company") and sets forth the terms and conditions of that employment. The Company hereby offers you full-time employment as Chief Financial Officer (and Principal Accounting Officer as defined by the Securities and Exchange Commission) of the Company commencing on or about June 21, 2004 with a salary of $150,000 on an annualized basis. You will receive a performance review at least annually during which your annual salary may be adjusted. You will also be eligible to receive a cash bonus, in the Company's discretion, on July 1, 2005 for one year or more of service to the Company. The amount of the bonus, if any, shall be determined in the discretion of the Company's Board of Directors (the "Board"), based on the Company'