**Exhibit 10.2**AGREEMENT     AGREEMENT made as of May___, 2001, by and between Levitt and Sons, Inc., a Marylandcorporation having its principal office at 7777 Glades Road, Boca Raton, Florida 33434 (the“Employer”), and Elliott M. Wiener, having an address at 5730 Northwest 42(nd) Court, Boca Raton,Florida 33496 (the “Employee”).WITNESSETH:     WHEREAS, the Employer is desirous of the services of the Employee as herein provided, and     WHEREAS,the Employee is willing to perform such services hereunder;      NOW, THEREFORE, inconsideration of the mutual covenants and agreements herein contained, it is mutually covenantedand agreed as follows:     1. Employment. The Employer hereby employs the Employee and the Employee herebyaccepts employment, and agrees to devote his best efforts and substantially all of his businesstime and attention, except during vacation periods (which shall not be less than 20 days in eachcalendar year) and period of illness or other disability, to the business of the Employer.     2. Term. The term of this Agreement shall commence as of January 1, 2002 and shallcontinue to and including December 31, 2005 except as otherwise herein provided. From and afterDecember 31, 2005, the term shall automatically be extended from year to year for one year unlesseither party provides notice not to so extend this Agreement, which notice, if given, must first begiven at least six months prior to December 31, 2005 and thereafter must be given at least sixmonths prior to the end of the term as same may have been extended hereby.     3. Compensation. The Employer agrees to pay the Employee and the Employee agrees toaccept the following compensation and benefits during his term of employment:
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 (a) Base salary shall be paid at the annual rate of $400,000. Such salary shall bepayable in accordance with the normal payroll practices of the Employer.  (b) It is the objective that the Employer is to achieve on an annual basis, at least a fifteenpercent (15%) after tax return on equity for each fiscal year of the Employer (“ObjectiveReturn”). After the annual certified audit of the Employer has been prepared by theEmployer’s independent certified accountants and it is determined that the Employer hasobtained the Objective Return in such fiscal year, then an incentive compensation shall bepaid to Employee within thirty (30) days of such determination in an amount to be determinedby mutual written agreement of Employee and the Chairman of the Board of the Employer(“Incentive Compensation”).     In the event that the controlling interest in the Employer is sold toa third party not affiliated with Levitt Corporation, then the parties herebyagree that for purposes of the Incentive Compensation payable from andafter the date of such sale, the parties shall utilize the methodology forcomputing the Incentive Compensation during the last fiscal yearimmediately prior to such sale in order to determine the methodology forcomputing Incentive Compensation from and after the sale. (c) Nothing contained herein shall be deemed to impact that certain LevittCorporation Deferred Compensation Plan and Split Dollar Agreement forElliott Wiener dated December 23, 1993 (“Deferred Compensation
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   Agreement”) which Deferred Compensation Agreement shall remain infull force and effect.     In addition, the Employee shall be entitled to such group life insurance, retirement,medical insurance, hospitalization, vacation, disability, and similar employee benefit plans asmay exist for the benefit of Employer’s executive officers generally (“perquisites”).     4. Expenses. The Employee shall be reimbursed for reasonable out-of-pocketexpenses incurred by him attributable to and in furtherance of the Employer’s business, uponsubmission of reasonable itemized vouchers therefor.     5. Duties and Covenants. The employee is engaged as President, and Chief ExecutiveOfficer of the Employer and is to perform such duties and services as may be assigned to him fromtime to time by the Board of Directors or principal executive officers of the Employer and shallobserve the by-laws and policies of the Employer from time to time promulgated by the Board ofDirectors and principal executive officers thereof. Notwithstanding the foregoing, in no eventshall the Employee be required to perform services not commensurate with his office. The Employeeagrees that he will devote his entire business time, attention and best efforts and will notengage in any conduct detrimental in any material respect to the business and affairs of theEmployer and its affiliates, and will not engage or be interested in any capacity,directly or indirectly, in any other business activity during the term of the Agreement;provided, however, that the Employee may continue to maintain his investment in the partnershipdeveloping Cascade Lakes. Nothing contained in this paragraph 5 shall prevent the Employee frominvesting in passive equity interests in real estate provided such investments are notinconsistent with Employee’s responsibilities hereunder, or holding stock (less than 3% of theoutstanding) in any public corporation. In no event (including removal from office under
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paragraph 6 below) shall the Employer directly or indirectly require the Employee torelocate his principal residence outside of South Florida. Employee understands that thecorporate plan for succession of the corporate officers is of significant importance to theEmployer in order to provide for the continued success of the business of the Employer and assuch the Employee accepts this responsibility and shall make his best efforts to accomplish thisobjective.     The Employee agrees that during the term of this Agreement and at all times thereafter, hewill not, without the Employer’s prior written consent, divulge, furnish or make accessible toany third party (other than in the regular course of business of the Employer or its subsidiariesor as required by law or valid legal process) any non-public, confidential information of orconcerning the Employer or its affiliates.     Inasmuch as the Employee’s breach or attempted breach of any provision of this paragraph 5would cause grave damage to the Employer or its affiliates not measurable in money damages, theEmployer shall, in addition to all other remedies, be entitled to a temporary and permanentinjunction and/or a decree for specific performance of the terms of this paragraph 5, withoutbeing required to furnish any bond or other security or to show any actual damages. If anyprovision of this paragraph 5 shall be held to be invalid or unenforceable, such provision shallbe construed so as to be narrowed to the least extent necessary to make such provision valid andenforceable.     6. Termination. (a) This Agreement shall be terminable by the Employer only upon theEmployee’s death, in the event of such physical or mental disability or illness of the Employeeas prevents his performance of the duties incident to this employment for a period of no lessthan three (3) consecutive months or an aggregate of 120 days in any period of twelve
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(12) months (“disability”), for cause (as hereafter defined) or as provided below. Forpurposes of this Agreement “cause” shall mean:(i) gross or willful misconduct, gross negligence or material failure toperform Employee’s duties under this Agreement (which gross negligence ormaterial failure shall have an adverse effect on the Employer’s business andshall either not be curable or, if curable, shall continue uncured for morethan 15 days after the Employee’s receipt of written notice setting forthwith particularity such misconduct); or          (ii) conviction of a felony or act of fraud or dishonesty.In connection with any termination hereunder, all amounts owing and accrued to the Employee on thedate of termination shall be paid promptly to the Employee upontermination, (b) Upon thedeath of the Employee during the Term, the Employee’s beneficiary(ies) shall receive any IncentiveCompensation determined to be due in accordance with Paragraph 3(b) for the fiscal year in whichsuch death occurs.     7. Notices. Any notice in connection with this Agreement shall be in writing andpersonally delivered, sent by overnight delivery service or sent by registered or certified mail tothe addressee at its or his address set forth above, or to such other address(es) as either partymay designate by like written notice to each other.     8. Binding Effect. This Agreement shall be binding upon the parties hereto, theirrespective heirs, administrators, successors and assigns, and shall inure to benefit of and bebinding upon the Employer, its affiliates, and their successors and assigns.     9. Entire Agreement. This Agreement contains the entire agreement of the parties andsupersedes any prior employment agreements or understandings between them. It may not be changed,waived, extended or terminated orally, but only by a writing signed by the party against
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whom enforcement of any change, waive, extension or termination is sought. The headingsherein have been inserted for convenience only, and are not to be part of this Agreement.     10. Governing Law, Venue. This Agreement shall be governed by the laws of the Stateof Florida. Any and all suits, legal actions or proceedings missing out of this Agreement shallbe brought in the court of competent jurisdiction in Palm Beach, Florida, and the partiesirrevocably waive any objection to such choice of venue.       LEVITT AND SONS, INC.       By: /s/ John E. Abdo,         John E. Abdo, Chairman of the Board         /s/ Elliott M. Wiener       Elliott M. Wiener
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