0001038222-05-000017 Sample Contracts

WELLSFORD REAL PROPERTIES, INC. 535 Madison Avenue, 26th Floor New York, New York 10022
Wellsford Real Properties Inc • May 23rd, 2005 • Real estate investment trusts • New York

Dear Mr. Cantaluppi: 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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