THIS EMPLOYMENT AGREEMENT is entered into as of the 25th day of May, 1999, between Developers
Diversified Realty Corporation, an Ohio corporation (the "Company"), and Daniel B. Hurwitz (the "Executive").
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 its Executive Vice President/Director of Leasing, 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 Executive Vice President/Director of Leasing 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
Executive Vice Presidents/Directors of Leasing of companies similar in size to the Company, together with such
other duties as may be reasonably requested from time to time by the President or the Chief Executive Officer of
the Company or the Board of Directors of the Company (the "Board"), which duties shall be consistent with his
positions as set forth above and as provided in Paragraph 2.
2. TERM AND POSITIONS.
(a) Subject to the provisions for termination hereinafter provided, the term of this Employment Agreement shall
begin on June 14, 1999 and shall continue for the current "fiscal year" (as hereinafter defined) and for the
immediately succeeding fiscal year. As of December 31, 2000, such term automatically shall be extended for the
fiscal year commencing January 1, 2001 and for each f