THIS EMPLOYMENT AGREEMENT is entered into as of the 15th day of November, 2002, between
Developers Diversified Realty Corporation, an Ohio corporation (the "Company"), and Timothy J. Bruce (the
W I T N E S S E T H:
WHEREAS, the Company desires to employ the Executive, and the Executive desires to be employed by the
Company, on the terms and subject to the conditions set forth herein;
NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties agree as follows:
(a) The Company hereby employs the Executive as a Senior Vice President of Development and the Executive
hereby accepts such employment, on the terms and subject to the conditions hereinafter set forth.
(b) During the term of this Employment Agreement and any renewal hereof (all references herein to the terms of
this Employment Agreement shall include references to the period of renewal hereof, if any), the Executive shall
be and have the title of Senior Vice President of Development and shall devote all of his business time and all
reasonable efforts to his employment and perform diligently such duties as are customarily performed by Senior
Vice Presidents of companies similar in size to the Company, including managing the expansion and/or
redevelopment and operating joint venture portions of the Company's development business, together with such
other duties as may be reasonably requested from time to time by the Chief Executive Officer, the President or
the Executive Vice President of the Company or the Board of Directors of the Company (the "Board"), which
duties shall be consistent with his position as set forth above and as provided in Paragraph 2.
2. TERM AND POSITIONS.
(a) Subject to the provisions for termination hereinafter provided, (i) the term of this Employment Agreement shall
begin on or about September 9, 2002 (the date on which the Executive commences employment being the
"Effective Date") and shall continue for the ba