AGREEMENT made as of October 1, l993 by and between AMREP CORPORATION (the "Company"), an
Oklahoma corporation, and RUDOLPH J. SKALKA ("Executive"), an individual residing at 23 Bouvant Drive,
Princeton, New Jersey 08540.
W I T N E S S E T H:
WHEREAS, the Company presently employs Executive as Vice President- Finance and desires that Executive
continue in the Company's employ for the term and on the terms and conditions hereinafter set forth, and
Executive is willing to do so.
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties
hereby agree as follows:
1. EMPLOYMENT. The Company agrees to continue to employ, and does hereby employ, Executive as Vice
President- Finance, and Executive hereby accepts such employment, for the Term, with the duties and
compensation and upon the terms
and conditions contained hereafter in this Agreement.
2. TERM. Unless earlier ended as hereinafter in this Agreement provided, the term of Executive's employment
(the "TERM") shall continue to and end on September 30, l995.
3. OFFICES AND DUTIES. (a) During the Term, Executive shall be Vice President-Finance of the Company.
Executive shall perform his services subject only to the direction and control of the Company's Board of
Directors ("BOARD") and of the Chairman of the Board and President. Executive shall not be required to
perform any duties other than those which are consistent with his status as a Vice President of the Company.
(b) During the Term Executive shall devote his full working time and energies to the business and affairs of the
Company. Executive agrees during the Term to use his best efforts, skill and abilities to promote the Company's
interests; to serve as a director and officer of any corporation which is a subsidiary of the Company if elected by
the stockholders or board of directors of such subsidiary corporation; and, subject to the provisions of the last
sentence of paragraph (a) of this