EX-10.11 Executive Services Agreement with Tatum

Tatum
Executive Services Agreement

December 5, 2007

Mr. Alan B. Levan
Levitt Corporation
2100 W. Cypress Creek Road
Ft. Lauderdale, FL 33309

Dear Alan:

Tatum, LLC (“Tatum,” “we,” or “us”) is pleased that Levitt Corporation (the “Company”, “you” or “your”) desires to employ Patrick Worsham, a member of Tatum (the “Employee”), to serve as a part of the office of the CFO of the Company, with a title to be determined as the role is more fully defined. The Employee’s status shall be at-will, and nothing in this Agreement shall alter the Company’s ability to terminate the Employee, with or without cause or notice; provided, however, if termination of this Agreement is under Section 4(a) of Exhibit A the Company shall continue to pay Tatum and the Employee during the 30 day notice period. This letter along with the terms and conditions attached as Exhibit A and any other exhibits or schedules attached hereto (collectively, the “Agreement”) confirms our mutual understanding of the terms and conditions upon which we will make available to you the Employee and Tatum’s intellectual capital to the Employee for use in connection with the Employee’s employment relationship with you.

Effective as of December 10, 2007, the Employee will become your employee serving in the capacity set forth above. The Employee will work on a full-time basis and be subject to the Company’s policies and supervision, direction and control of and report directly to the Company’s management. While the Employee will remain a member of Tatum and have access to Tatum’s intellectual capital to be used in connection with the Employee’s employment relationship with you, we will have no supervision, direction or control over the Employee with respect to the services provided by the Employee to you.

You will pay directly to the Employee a salary of $25,200 a month (“Salary”). In addition, you will reimburse the Employee for all travel related and out-of pocket expenses incurred by the Employee in connection with his services to the Company. These will include reasonable accommodations, meals and travel related costs as approved by the Company. In addition, you will pay directly to Tatum a fee of $10,800 per month (“Fees”). Seventy percent of any cash or equity incentive bonus shall be paid directly to the Employee and the remaining 30% shall be paid/granted directly to Tatum.

Payments to the Employee shall be made in accordance with the Company’s standard payroll and expense reimbursement policies. Payments to Tatum should be made in accordance with the instructions set forth on Exhibit A at the same time payments are made to the Employee.

In lieu of the Employee participating in the Company-sponsored employee health insurance plans, the Employee will remain on his or her current health insurance plans. You will reimburse the Employee for amounts paid by the Employee for health insurance for himself and his family of up to the lesser of the amount provided to other similar senior level employees or actual amounts paid by the employee which will be based upon presentation of reasonable documentation of premiums paid by the Employee. In accordance with the U.S. federal tax law, such amount will not be considered reportable W-2 income, but instead, non-taxable benefits expense.