Amendment to Employment Agreement between Francis X. McCarthy, Jr. and Trump Hotels & Casino Resorts, Inc. (January 9, 2003)

Summary

This document amends the employment agreement between Francis X. McCarthy, Jr. and Trump Hotels & Casino Resorts, Inc. (and related entities). The amendment extends Mr. McCarthy's employment through December 31, 2006, sets his annual base salary at $400,000, and guarantees a minimum annual salary increase of 5% starting January 1, 2004. All other terms of the original agreement remain unchanged and in effect.

EX-10.23 37 dex1023.txt EMPLOYMENT AGREEMENT, DATED APRIL 17, 2000, OF FRANCIS X. MCCARTHY, JR. EXHIBIT 10.23 January 9, 2003 Francis X. McCarthy, Jr. [ADDRESS] Re: Employment Agreement dated April 17, 2000 between Francis X. McCarthy, Jr. and Trump Hotels & Casino Resorts, Inc., Trump Hotels & Casino Resorts Holdings, L.P. and Trump Atlantic City Associates (collectively "Trump") (the "Agreement") Dear Mr. McCarthy: This letter will confirm that the Agreement is hereby amended as set forth below: 1. the Expiration Date is extended to December 31, 2006; 2. paragraph 2 is amended to reflect the annual base salary of $400,000; and 3. paragraph 3 is amended to state that commencing January 1, 2004 the annual salary shall be increased at a rate not less than 5% per annum. Except to the extent modified herein, you and Trump hereby ratify the Agreement and agree that all other terms, conditions and obligations contained therein remain in full force and effect as stated in the Agreement. Very truly yours, /s/ Mark A. Brown ------------------------ MARK A. BROWN Chief Operating Officer Agreed and Consented to: /s/ Francis X. Mccarthy - ----------------------------- Francis X. McCarthy, Jr. 1/13/03 Date