This Employment Agreement, made as of January 1, 2003, by and between Steven Baruch, residing at One Pondview West,
Purchase, New York 10577 (“Executive”) and PRESIDENTIAL REALTY CORPORATION, a Delaware corporation having offices
at 180 South Broadway, White Plains, New York 10605 (“Employer” or the “Company”);
W I T N E S S E T H:
WHEREAS, Employer is desirous of employing Executive as its Executive Vice President; and
WHEREAS, Executive desires to render such services to Employer.
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein set forth, the parties hereto agree as
1. Employment. Employer hereby employs Executive as its Executive Vice President, and Executive hereby accepts such
employment, upon the terms and conditions hereinafter set forth.
(a) In his capacity as Executive Vice President of Employer, Executive shall perform for Employer the executive,
administrative and technical duties customarily associated with such position, as well as such other duties reasonably
consistent therewith as may be reasonably assigned to Executive from time to time by the President or Board of Directors of
Employer; provided, however, that the duties assigned shall be of a character and dignity appropriate to a senior executive of a
corporation and consistent with Executive’s experience, education and background.
(b) Except as otherwise set forth in this paragraph, (i) Executive shall devote his full time and efforts during normal business
days and hours to the performance of this Employment Agreement and (ii) Executive shall not engage in the real estate business
or in any other business which conflicts with or competes in any material way with the business of Employer. Notwithstanding
the foregoing, (x) Executive may devote reasonable time and efforts during normal business days and hours to the business of
Scorpio Entertainment, Inc. and Scor