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                                                                  EXHIBIT 10.209

                     AMENDMENT NO. 5 TO SEVERANCE AGREEMENT
                            AND CONSULTING AGREEMENT

        It is hereby agreed as of this 10th day of May 2000, by and between MEGO
FINANCIAL CORP. (the "Company") and DON A. MAYERSON (the "Employee") as follows:

WHEREAS, the Employee was a senior officer of the Corporation from January, 1988
to December 31, 1998, holding the offices of Executive Vice President, General
Counsel and Secretary during most of that period; and

WHEREAS, the parties hereto previously entered into an agreement dated as of
September 2, 1997 (the "Agreement") which, among other things provided for a
lump sum payment of $250,000.00 (the "Payment") in the event the Employee's
employment by the Company was terminated for any reason; and

WHEREAS, the parties hereto have previously entered into an indemnification
agreement dated as of September 23, 1998 (the "Indemnification Agreement"); and

WHEREAS, the Employee retired on December 31, 1998 and is no longer employed by
the Company; and

WHEREAS, pursuant to Amendment No. 1 to Severance Agreement, and Consulting
Agreement dated as of December 24, 1998 (the "Amendment No. 1"), and Amendment
No. 2 to Severance Agreement, and Consulting Agreement dated as of June 18, 1999
(the "Amendment No. 2"), Amendment No. 3 to Severance Agreement, and Consulting
Agreement dated as of September 28, 1999 (the "Amendment No. 3") and Amendment
No. 4 to Severance Agreement, and Consulting Agreement dated as of December 30,
1999 (the "Amendment No. 4") the Company and the Employee agreed to modify the
payment terms of the Payment so as to defer the payment of a portion thereof,
and provided for the possible future services of Employee as a consultant to the
Company; and

WHEREAS, in accordance with the terms of Amendment No. 1, Amendment No. 2,
Amendment No. 3, and Amendment No. 4, the Company has paid monthly payments
through the date hereof aggregating $170,000, leaving a balance due on the
Payment of $80,000 as of the date hereof, and

NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth
and for other good and valuable consideration, it is agreed as follows:

1.  The above recitals are true and correct.

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2.  Paragraph 2 of the Agreement is hereby amended and restated to read in full
    as follows:

    "In the event the employment of the Employee in his present capacity with
    the Company is terminated for any reason, including but not limited to the
    Employee's death, disability, or retirement, the Company shall pay to the
    Employee (or his personal representative if the Employee is deceased) the
    sum of Two Hundred Fifty Thousand Dollars ($250,000), in full satisfaction
    of any severance obligations of the Company, which amount shall be paid as
    follows:

    a.  The sum of Ten Thousand Dollars ($10,000) on the first payday of each
        month to executive officers of the Company for the months of January
        1999 through August 2000, aggregating Two Hundred Thousand Dollars
        ($200,000).

    b.  The balance of Fifty Thousand Dollars ($50,000) on August 31, 2000.

    c.  In the event the Company executes an agreement involving a "Change of
        Control" as hereinafter defined, the Company shall immediately pay any
        unpaid balance of Payment to the Employee at the closing of the
        transaction, if prior to August 31, 2000. This sub-paragraph shall not
        extend the final payment date of the Payment beyond August 31, 2000.

    d.  The Payment shall be deemed to be in the nature of a non-qualified
        pension.

3.  As further consideration for the agreement of the Employee to continue
    deferring payment of a portion of the Payment, the Company agrees to permit
    the Employee to utilize available space, if any, at the Company's offices in
    North Miami, Florida, in connection with Employee providing consulting
    services to the Company if requested by the Company and agreed to by the
    Employee, as well as for the Employee's personal matters, until December 31,
    2000 or such other date as is agreed to by the parties.

4.  Except as modified above, all other terms and conditions of the Agreement,
    Amendment No. 1, Amendment No. 2, Amendment No. 3 and Amendment No. 4 shall
    remain in full force and effect. The Indemnification Agreement shall also
    remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have executed this agreement the date
first above written.

MEGO FINANCIAL CORP. (COMPANY)

By: /s/ JEROME J. COHEN
    -------------------------------
    JEROME J. COHEN, PRESIDENT

DON A. MAYERSON (EMPLOYEE)

/s/ DON A. MAYERSON
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                                                                  Exhibit 10.210

                                 NINTH AMENDMENT
                     TO ASSIGNMENT AND ASSUMPTION AGREEMENT

This Ninth Amendment (the "Amendment") to Assignment and Assumption Agreement,
by and between RER Corp., COMAY corp., GROWTH REALTY INC. and H&H FINANCIAL,
INC. (the "Assignors") and MEGO FINANCIAL CORP., formerly named Mego Corp., (the
"Assignee")

                                   WITNESSETH:

WHEREAS, the Assignors are parties to the Assignment Agreement dated October 25,
1987, with the Assignee, and the Assignment and Assumption Agreement, dated
February 1, 1988, between the Assignors and the Assignee, which two agreements
were amended by the Amendment to Assignment and Assumption Agreement dated July
29, 1988 and by the Second Amendment to Assignment and Assumption Agreement
dated as of March 2, 1995, the Third Amendment to Assignment and Assumption
Agreement dated as of August 20, 1997 and the Fourth, Fifth, Sixth, Seventh and
Eighth Amendments to Assignment and Assumption Agreement dated as of February
26, 1999, May 28, 1999, August 9, 1999, November 20, 1999, and January 31, 2000,
respectively, between the Assignors and the Assignee (collectively, the
described agreements as so amended are hereinafter referred to as the
"Assignment"): and

     WHEREAS, the Assignment fixed the date of January 31, 1995 as the date on
which the accrual of amounts due to the Assignors under the Assignment would
terminate, except for interest on any of such amounts which remained unpaid; and

     WHEREAS, the amount due the Assignors as of January 31, 1995 was
$13,328,742.25, plus interest from January 28, 1995, in the amount of $9,322.57,
collectively, and with interest from January 31, 1995 to March 2, 1995 (the
"Amount Due"); and

     WHEREAS, $10,000,000 of the Amount Due was agreed to be considered
subordinated debt (the "Subordinated Debt"), against which payments were made as
follows: (i) $1,428,571.43 was paid on March 1, 1997 as scheduled, (ii)
$4,250,000 was deemed paid by credit against the exercise price of certain
warrants as is set forth in the Third Amendment, and (iii) $35, 714.28 was paid
on September 1, 1998, leaving a remaining balance of the Subordinated Debt of
$4,285,714.29; and

     WHEREAS, the balance of the Subordinated Debt continues to be secured by a
pledge of all of the issued and outstanding common stock of Preferred Equities
Corporation ( and any distributions in respect thereto) pursuant to a Pledge and
Security Agreement dated as of February 1, 1988 (the "Pledge Agreement") between
the Assignee and the Assignors; and

     WHEREAS, interest on the Subordinated Debt has been paid through March 1,
2000; and

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     WHEREAS, under the terms of the Assignment, all of the principal in the
amount of $4,285,714.29 will be due and payable on May 1, 2000; and

     WHEREAS, the Assignee has requested that the Assignors further defer the
payment of principal of the Subordinated Debt payable on May 1, 2000, in the
total amount of $4,285,714.29, to September 1, 2000.

     NOW THEREFORE, in consideration of the mutual covenants herein contained it
is hereby agreed as follows:

     1.   The statements in the foregoing preamble are true and correct.

     2.   The payments previously deferred to May 1, 2000, totaling in the
aggregate $4,285,714.29, and hereby deferred to September 1, 2000.

     3.   The Assignee and Assignors agree that all amounts due to Assignors
pursuant to the Assignment as amended by this Amendment shall continue to be
secured as set forth in the Pledge Agreement and that the Pledge Agreement
remains in full force and effect.

     4.   The Assignee and Assignors agree that this Amendment is an amendment
to the Assignment and not a novation, and that except as modified hereby, all
terms and conditions of the Assignment, including but not limited to provisions
with respect to the payment of interest and acceleration of the entire balance
of principal and interest if any payment is not made within 30 days of its due
date, shall remain in full force and effect.

     5.   It is agreed that this Amendment may be signed in counterparts, and
all such counterparts in the aggregate shall constitute one agreement.

     IN WITNESS WHEREOF, the parties have duly executed this Amendment as of
April 30, 2000.

<TABLE>
<S>                                          <C>
     MEGO FINANCIAL CORP.                      H&H Financial, Inc

     By:/s/ Jerome J. Cohen                    By:/s/ Herbert Hirsch
        --------------------------                --------------------------
        Jerome J. Cohen, President                Title: President

     RER CORP.                                 Growth Realty Inc.

     By:/s/ Robert Nederlander                 By:/s/ Eugene Schuster
        --------------------------                --------------------------
        Title: President                          Title: C.E.O.

     Comay Corp

     By:/s/ Jerome J. Cohen
        --------------------------
        Title: President

</TABLE>

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