AMENDMENT NO. ONE
WHEREAS, Home Properties of New York, L.P. (the "Company") and Nelson B. Leenhouts ("Employee")
entered into an Employment Agreement, dated August 4, 1994 (the "Agreement");
WHEREAS, the Agreement provided for incentive compensation pursuant to the Company's original incentive
compensation plan; and
WHEREAS, the Company has changed its incentive compensation plan and the Company and the Employee
have agreed that incentive compensation should be paid to the Employee pursuant to the Company's current
compensation plan rather than as originally described in the Agreement.
NOW THEREFORE, the parties hereto agree as follows:
1. The first paragraph of Section 3.2 of the Agreement shall be amended and restated in its entirety to read as
"Employee shall receive incentive compensation pursuant to the Company's Incentive Compensation Plan as such
plan may be amended from time to time. Initially, the Employee shall have the factor of 10% applied to his base
salary for purposes of determining his share of the bonus pool under the Incentive Compensation Plan. One-half
of the bonus shall be non- discretionary and the other half shall be payable to the Employee in the discretion of
the Management Committee of the Board of Directors of Home Properties of New York, Inc. The above is
subject to modification upon the agreement of the Employee and the Management Committee without further
need to modify this Agreement."
2. The above amendment shall apply to the bonus payable in 1998 and thereafter, but the parties acknowledge
that the Employee has voluntary received his bonus pursuant to the Company's then current incentive
compensation plan rather than as provided in the Agreement since 1996.
3. As amended above, the Agreement remains in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of January 1, 1998.
HOME PROPERTIES OF NEW YORK, L.P.
By: Home Properties of New York, Inc.