AMENDED AND RESTATED EMPLOYMENT AGREEMENT
THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Employment
Agreement”) is entered into as of the 29 th day of December 2008, between Developers Diversified Realty
Corporation, an Ohio corporation (the “Company”), and Robin R. Walker-Gibbons (the “Executive”).
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; and
WHEREAS, the Company and the Executive desire for this Employment Agreement to amend and
supersede any prior employment agreements between the Company and the Executive.
NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties agree as
(a) The Company hereby employs the Executive as its Executive Vice President of Leasing, and the
Executive hereby accepts such employment, on the terms and subject to the conditions hereinafter set
(b) During the term of this Employment Agreement, the Executive shall be and have the title of Executive
Vice President of Leasing and shall devote all of her business time and all reasonable efforts to her
employment and perform diligently such duties as are customarily performed by Executive Vice
Presidents of Leasing of companies similar in size to, and in a similar business as, the Company, together
with such other duties as may be reasonably requested from time to time by the Senior Executive Vice
President, President or Chief Executive Officer of the Company or the Board of Directors of the
Company (the “Board”), which duties shall be consistent with her positions previously set forth and as
provided in Paragraph 2.
2. Term and Positions.
(a) The period of employment of the Executive by the Company shall, subject to earlier termination as
provided in this Employment Agreement, continue until December