AMENDED AND RESTATED
1999 EQUITY PARTICIPATION PLAN
WILSHIRE FINANCIAL SERVICES GROUP INC.
Participation Plan of Wilshire Financial Services Group Inc. (the "Plan"), effective Septemb
amended on December 2, 1999 and June 22, 2000, for the benefit of its eligible employees and
The purposes of the Plan are as follows:
(1) To provide an additional incentive for directors and key Employee
defined below) to further the growth, development and financial success of the Company by pe
through the ownership of Company stock and/or rights which recognize such growth, developmen
(2) To enable the Company to obtain and retain the services of direct
considered essential to the long range success of the Company by offering them an opportunit
Company and/or rights which will reflect the growth, development and financial success of th
1.1. General. Wherever the following terms are used in the Plan they
meanings specified below, unless the context clearly indicates otherwise.
1.2. Administrator. "Administrator" shall mean the entity that conduct
administration of the Plan as provided herein. With reference to the administration of the
Options granted to Independent Directors, the term "Administrator" shall refer to the Board.
the administration of the Plan with respect to any other Award, the term "Administrator" sha
Committee unless the Board has assumed the authority for administration of the Plan generall
1.3. Award. "Award" shall mean an Option, a Restricted Stock award,
or a Stock Payment award which may be awarded or granted under the Plan (collectively, "Awar
1.4. Award Agreem