EXHIBIT 10.32

December 11, 2002

Mr. Mark A. Brown
[ADDRESS]

 

Re:

Third Amendment of Employment Agreement dated March 6, 1998, as amended (the
“Agreement”)

Dear Mr. Brown:

 

This letter will confirm our agreement to further amend the Agreement as
follows:

 

 

 

 

1.

This amendment shall be effective as of the date hereof and the Expiration Date
shall be December 31, 2006.

 

 

 

 

2.

In consideration for this Amendment, Paragraph 2.a, as previously amended, is
hereby deleted in its entirety and replaced as follows:

 

 

 

 

 

During the term of this Agreement, you shall be paid an annual salary at the
rate of One Million Five Hundred Thousand ($1,500,000) Dollars commencing
January 1, 2003, payable periodically in accordance with Trump’s regular payroll
practices.  Said annual salary shall increase to One Million Six Hundred
Thousand Dollars ($1,600,000) commencing January 1, 2004, to One Million Seven
Hundred Thousand  ($1,700,000) Dollars commencing January 1, 2005, and to One
Million Eight Hundred Thousand ($1,800,000) Dollars commencing January 1, 2006.

 

 

 

 

3.

Paragraph 13 of the Agreement dated March 6, 1998 is reinstated in its entirety.

          Except to the extent modified herein, you hereby ratify the Agreement
and confirm that all other such terms, conditions and obligations contained
therein remain in full force and effect as stated in the Agreement.

 

Very truly yours,

 

 

 

/s/ DONALD J. TRUMP

 

 

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DONALD J. TRUMP

 

 

Chairman

 

 

Trump’s Castle Associates

 

 

Trump Taj Mahal Associates

 

 

Trump Plaza Associates

 

 

Trump Indiana, Inc.

 

DJT/njd

 

 

 

 

 

Agreed to this 11th day of December, 2002

 

 

 

 

 

/s/ MARK A. BROWN

 

 

 

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MARK A. BROWN