Exhibit 99.1
AMENDMENT
DATED OCTOBER 13, 2008
to
FIRST AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AND
CONSULTING AGREEMENT
DATED DECEMBER 12, 2007
between
XXXXXXX X. XXXXXX ("Executive")
and
PRESIDENTIAL REALTY CORPORATION (the "Company")
WHEREAS, the Employment and Consulting Agreement originally entered
into as of January 1, 2004 between Executive and the Company was amended and
restated as of December 12, 2007 and further amended pursuant to a First
Amendment dated December 12, 2007 (collectively the "Amended Agreement"), and
WHEREAS, Executive and the Company wish to amend the terms and
conditions of the Amended and Restated Agreement as set forth herein.
NOW, THEREFORE, the parties hereto agree as follows:
1. Subsection 3(a)(iii) is amended by changing the date "December 31,
2011" to the date "December 31, 2012".
2. Section 8(a) is amended to delete the seventh line thereof
commencing with the word "2009" and ending with the word "a" and replacing it
with the following:
"2009 and $.63 per share for calendar years 2010 and
subsequent thereto to the extent any aforesaid year is a"
3. Except as expressly provided herein, all of the other terms and
conditions of the Amended and Restated Agreement shall remain in full force and
effect.
PRESIDENTIAL REALTY CORPORATION
By: /s/ Xxxxxx Xxxxxx
-----------------------------
Xxxxxx Xxxxxx
Executive Vice President
EXECUTIVE:
/s/ Xxxxxxx X. Xxxxxx
------------------------------
Xxxxxxx X. Xxxxxx
