Document:

Unassociated Document

    Exhibit
10.1

    

    FIRST
AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT

    

    THIS FIRST AMENDMENT TO EMPLOYMENT
AGREEMENT (this “Agreement”), is entered into as of the 17th day of
March 2010 by and between  MARTIN S.
HUGHES  (the “Executive”) and  REDWOOD TRUST,
INC., a Maryland Corporation (the “Company”).

    

    WHEREAS, the Executive and the
Company have entered into an Amended and Restated Employment Agreement dated as
of March 31, 2009 (as amended, the “Employment Agreement”); and

    

    WHEREAS, the Executive and the
Company desire to enter into this Agreement for purposes of amending the
Employment Agreement as set forth herein;

    

    NOW, THEREFORE, for good and
valuable consideration, the receipt and adequacy which is hereby acknowledged,
the Executive and the Company hereby agree that the Employment Agreement is
hereby amended as follows effective upon May 18, 2010:  

    

    
      	
            	
              (1)

            	
              Section
      1 of the Employment Agreement shall be amended and restated to read in its
      entirety as follows:

            

    

    

    “Employment as President and Chief
Executive Officer Of The Company.  The Company does hereby
employ the Executive as President and Chief Executive Officer of the
Company.  The Executive does hereby accept and agree to such
employment.  The Executive’s duties shall be such executive and
managerial duties as the Board of Directors of the Company shall from time to
time prescribe and as provided in the Bylaws of the Company.  The
Executive shall devote such time, energy and skill to the performance of his
duties for the Company and for the benefit of the Company as may be necessary or
required for the effective conduct and operation of the Company’s
business.  Furthermore, the Executive shall act only in good faith and
exercise due diligence and care in the performance of his duties to the Company
under this Agreement.”

    

    
      	
            	
              (2)

            	
              Section
      3(a) of the Employment Agreement shall be amended to replace the base
      salary amount of “$500,000” specified therein with
    “$700,000”.

            

    

    

    
      	
            	
              (3)

            	
              Section
      3(b) of the Employment Agreement shall be amended to replace the target
      annual bonus percentage of “150%” specified therein with
      “165%”.

            

    

    

    
      	
            	
              (4)

            	
              Section
      10 of the Employment Agreement shall be amended by replacing “Attn: Chief
      Executive Officer” with “Attn: Chief Operating
  Officer”.

            

    

    

    IN WITNESS WHEREOF, the
Company has caused this Agreement to be executed by its duly authorized officer,
and the Executive has executed this Agreement, as of the date first above
written.

     

    
      
        
          
            	
                    REDWOOD
      TRUST, INC.

                  	 
	 
      	 
      	 
	
                    By:  

                  	
                    /s/ George E. Bull, III

                  	 
	 
      	
                    Name:
      George E. Bull, III

                  	 
	 
      	
                    Title:
      Chairman & Chief Executive Officer

                  	 
	 
      	 
      	 
	
                    MARTIN
      S. HUGHES

                  	 
	 
      	 
	 
      	
                    /s/ Martin S. HughesUnassociated Document

    Exhibit
10.2

    

    FIRST
AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT

    

    THIS FIRST AMENDMENT TO EMPLOYMENT
AGREEMENT (this “Agreement”), is entered into as of the 17th day of
March 2010 by and between  BRETT D.
NICHOLAS  (the “Executive”) and  REDWOOD TRUST,
INC., a Maryland Corporation (the “Company”).

    

    WHEREAS, the Executive and the
Company have entered into an Amended and Restated Employment Agreement dated as
of March 31, 2009 (as amended, the “Employment Agreement”); and

    

    WHEREAS, the Executive and the
Company desire to enter into this Agreement for purposes of amending the
Employment Agreement as set forth herein;

    

    NOW, THEREFORE, for good and
valuable consideration, the receipt and adequacy which is hereby acknowledged,
the Executive and the Company hereby agree that the Employment Agreement is
hereby amended as follows effective upon May 18, 2010:  

    

    Section 1
of the Employment Agreement shall be amended to replace each occurrence of the
phrase “Chief Investment Officer and Co-Chief Operating Officer” therein with
“Chief Operating Officer, Chief Investment Officer, and Executive Vice
President”.

    

    IN WITNESS WHEREOF, the
Company has caused this Agreement to be executed by its duly authorized officer,
and the Executive has executed this Agreement, as of the date first above
written.

     

    
      
        
          
            
              	
                      REDWOOD
      TRUST, INC.

                    	 
	 
      	 
      	 
	
                      By:  

                    	
                      /s/ George E.
      Bull, III

                    	 
	 
      	
                      Name:
      George E. Bull, III

                    	 
	 
      	
                      Title: Chairman
      & Chief Executive Officer  

                    	 
	 
      	 
      	 
	
                      BRETT
      D. NICHOLAS

                    	 
	 
      	 
	 
      	
                      /s/ Brett D. NicholasUnassociated Document

    Exhibit
10.9

     

    SIXTH
AMENDMENT

    TO
THE

    MANAGEMENT
AGREEMENT

     

    This
sixth amendment  (this “Amendment”) to that certain Management
Agreement dated January 25, 2008 as amended by the Amendment to the Management
Agreement, dated April 30, 2008, as further amended by the Second Amendment to
the Management Agreement, dated May 30, 2008, as further amended by the Third
Amendment to the Management Agreement, dated as of September 16, 2008, as
further amended by the Fourth Amendment to the Management Agreement, dated as of
October 23, 2006 and as further amended by the Fifth Amendment to the
Management Agreement, dated as of October 23, 2006 (collectively, the
“Agreement”) is made and entered into as of the 8TH day of
July, 2009, by and among AMERICAN REALTY CAPITAL TRUST, INC., a Maryland
corporation (the “Company”), AMERICAN REALTY CAPITAL OPERATING PARTNERSHIP,
L.P., a Delaware limited partnership (the “OP”, and together with the Company,
the “Owner”), ARC FEHOUTX 001 LLC, a Delaware limited liability company (the
“FedEx Owner”) and AMERICAN REALTY CAPITAL PROPERTIES, LLC, a Delaware limited
liability company (the “Manager”).

    

    WHEREAS,
the OP was organized to acquire, own, operate, lease and manage real estate
properties on behalf of the Company;

    

    WHEREAS,
the FedEx Owner is a subsidiary of the OP and was organized to acquire, own,
operate, lease and manage the real estate property, identified in Exhibit A hereto, on
behalf of the OP (the “FedEx Property”);

    

    WHEREAS,
the Company intends to continue to raise money from the sale of its common stock
to be used, net of payment of certain offering costs and expenses, for
investment in the acquisition or rehabilitation of income-producing real estate
to be acquired and held by the Company, by the OP or by the Subsidiary Owners on
behalf of the Company; and

    

    WHEREAS,
Owner and the Subsidiary Owners (defined below) wish to retain Manager to manage
and coordinate the leasing of the real estate properties acquired by Owner and
the Subsidiary Owners, and the Manager wishes to be so retained, all under the
terms and conditions set forth in this Management Agreement.

     

    NOW,
THEREFORE, in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound hereby, do hereby agree as
follows:

    

    1.           
Section 1.11 will be replaced in its entirety with the following:

    

    “Properties means all
real estate properties owned by Owner or the Subsidiary Owners, and all tracts
as yet unspecified but to be acquired by Owner or the Subsidiary Owners
containing income-producing Improvements or on which Owner or the Subsidiary
Owners will rehabilitate income-producing Improvements, the Rockland Properties,
the National City Property, the Pompano Property, the PNC Property and the FedEx
Property.  Properties shall be classified under four categories,
residential, retail, industrial and office properties.”

    

    2.           
Section 1.13 will be added with the following:

    

    
      
         

      

      
        - 1
-

        
          

        

      

      
         

      

    

    “Subsidiary Owners”
means, collectively, ARC ROCK17MA LLC, a Delaware limited liability company (the
“Rockland Owner”), ARC WBPCFL0001, LLC,  a Delaware limited liability
company (the “National City Owner”), ARC WBPBFL0001, LLC,  a Delaware
limited liability company (the “Pompano Owner”), ARC PANJOH54 LLC, a
Delaware limited liability company (the “PNC1 Owner”), ARC PA-QRS Trust, a
Virginia business trust (the “PNC2 Owner”) and the FedEx Owner.

    

    3.           
With respect to the FedEx Property alone, all references to Owner herein shall
be deemed to include the FedEx Owner.

    

    

    [INTENTIONALLY
LEFT BLANK]

    
      
         

      

      
        - 2
-

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the parties have executed this Amendment as of the date first
above written.

     

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	 
      	
                                      AMERICAN
      REALTY CAPITAL TRUST, INC.

                                    
	 
      	 
      	 
      
	 
      	By:
       /s/ William M.
      Kahane
	 
      	
                                      Name:

                                    	
                                      William
      M. Kahane

                                    
	 
      	
                                      Title:

                                    	
                                      President

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      AMERICAN
      REALTY CAPITAL

                                    
	 
      	
                                      OPERATING
      PARTNERSHIP, L.P.

                                    
	 
      	 
      	 
      
	 
      	By:    
      American
      Realty Capital Trust, Inc.,
	 
      	 
      	
                                      its
      General Partner

                                    
	 
      	 
      	 
      
	 
      	By:
       /s/ William M.
      Kahane
	 
      	
                                      Name:

                                    	
                                      William
      M. Kahane

                                    
	 
      	
                                      Title:

                                    	
                                      President

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	AMERICAN
      REALTY CAPITAL PROPERTIES, LLC
	 
      	 
      	 
      
	 
      	By:
       /s/ William M.
      Kahane
	 
      	
                                      Name:

                                    	
                                      William
      M. Kahane

                                    
	 
      	
                                      Title:

                                    	
                                      President

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      ARC
      FEHOUTX 001 LLC

                                    
	 
      	
                                      a
      Delaware limited liability company

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	By:
       /s/ William M.
      Kahane
	 
      	
                                      Name:

                                    	
                                      William
      M. Kahane

                                    
	 
      	
                                      Title:

                                    	
                                      President

                                    

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        - 3
-

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    List of
Properties

    

    

    
      
        	
                 

                Property
No.

              	
                 

                Address

              	
                 

                City

              	
                 

                State

              	
                 

                Owner

              
	
                1.

              	
                9010
      Jackrabbit Road

              	
                Houston

              	
                Texas

              	
                ARC FEHOUTX 001
      LLC

              

      

    

    

      
        
           

        

        
          - 4
-

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