DEVELOPERS DIVERSIFIED REALTY CORPORATION
SCOTT A. WOLSTEIN
THIS EMPLOYMENT AGREEMENT is entered into as of the 2nd day of April 1999, between Developers
Diversified Realty Corporation, an Ohio corporation ("the Company"), and Scott A. Wolstein (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;
WHEREAS, the Company and the Executive desire for this Agreement to amend and supercede the
Employment Agreement, dated as of January 1, 1993, between the Company and the Executive;
NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties agree as follows:
(a) The Company hereby employs the Executive as its Chief Executive Officer 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 term of
this Employment Agreement shall include references to the period of renewal hereof, if any), the Executive shall
be and have the title of Chief Executive Officer and shall devote substantially all of his business time and all
reasonable efforts to his employment and perform diligently such duties as are customarily performed by Chief
Executive Officers of companies similar in size to the Company, together with such other duties as may be
reasonably requested from time to time by 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 renewal and termination hereinafter provided, (i) the term of this Employment
Agreement shall begin on the date hereof and shall continue for the current "fiscal year" (as hereinaf