<SEC-DOCUMENT>0001193125-17-071858.txt : 20170306
<SEC-HEADER>0001193125-17-071858.hdr.sgml : 20170306
<ACCEPTANCE-DATETIME>20170306172609
ACCESSION NUMBER:		0001193125-17-071858
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20170302
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170306
DATE AS OF CHANGE:		20170306

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DDR CORP
		CENTRAL INDEX KEY:			0000894315
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				341723097
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11690
		FILM NUMBER:		17668899

	BUSINESS ADDRESS:	
		STREET 1:		3300 ENTERPRISE PARKWAY
		CITY:			BEACHWOOD
		STATE:			OH
		ZIP:			44122
		BUSINESS PHONE:		2167555500

	MAIL ADDRESS:	
		STREET 1:		3300 ENTERPRISE PARKWAY
		CITY:			BEACHWOOD
		STATE:			OH
		ZIP:			44122

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEVELOPERS DIVERSIFIED REALTY CORP
		DATE OF NAME CHANGE:	19940218
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d367248d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of report (Date of earliest event reported): March&nbsp;2, 2017 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>DDR Corp. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name
of Registrant as Specified in Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Ohio</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">1-11690</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">34-1723097</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>3300 Enterprise Parkway, Beachwood, Ohio</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>44122</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code:
<FONT STYLE="white-space:nowrap">(216)&nbsp;755-5500</FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former Name or Former Address, if Changed Since Last Report) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (<I>see </I>General Instruction A.2. below): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744;&nbsp;&nbsp;&nbsp;&nbsp; Written communications
pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to <FONT
STYLE="white-space:nowrap">Rule&nbsp;14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744;&nbsp;&nbsp;&nbsp;&nbsp; <FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to
<FONT STYLE="white-space:nowrap">Rule&nbsp;14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744;&nbsp;&nbsp;&nbsp;&nbsp; <FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to
<FONT STYLE="white-space:nowrap">Rule&nbsp;13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Officer Appointments </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On
March&nbsp;3, 2017, DDR Corp. (&#147;<B><I>DDR</I></B>&#148;) announced that David R. Lukes was elected to the Board of Directors of DDR (the &#147;<B><I>Board</I></B>&#148;) and was named President and Chief Executive Officer of DDR, effective
March&nbsp;2, 2017 (the &#147;<B><I>Effective Date</I></B>&#148;). Mr.&nbsp;Lukes, age 47, most recently served as Chief Executive Officer of Equity One, Inc. (&#147;<B><I>Equity One</I></B>&#148;), an owner, developer, and operator of shopping
centers, as well as a member of Equity One&#146;s Board of Directors, from June 2014 until March 2017. Mr.&nbsp;Lukes also served as Equity One&#146;s Executive Vice President from May 2014 to June 2014. Prior to joining Equity One, Mr.&nbsp;Lukes
served as President and Chief Executive Officer of Sears Holding Corporation affiliate Seritage Realty Trust, a publicly traded, self-administered, self-managed REIT primarily engaged in the real property business through its investment in its
operating partnership, Seritage Growth Properties, L.P., from 2012 through April 2014. In addition, Mr.&nbsp;Lukes served as the President and Chief Executive Officer of Olshan Properties (formerly Mall Properties, Inc.), a privately owned real
estate firm that specializes in the development, acquisition and management of commercial real estate, from 2010 to 2012. Mr.&nbsp;Lukes&#146; qualifications to serve on the Board include his prior experience as Chief Executive Officer of Equity
One, his familiarity with the retail REIT industry and his extensive expertise and experience in retail real estate development and operations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Also on March&nbsp;3, 2017, DDR announced that Michael A. Makinen was named Executive Vice President and Chief Operating Officer of DDR,
effective the Effective Date. Mr.&nbsp;Makinen, age 52, most recently served as Equity One&#146;s Chief Operating Officer since July 2014. Prior to joining Equity One, Mr.&nbsp;Makinen served as the Chief Operating Officer of Olshan Properties from
2010 to June 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Furthermore, on March&nbsp;3, 2017, DDR announced that Matthew L. Ostrower was named Executive Vice President, Chief
Financial Officer and Treasurer of DDR, effective the Effective Date. Mr.&nbsp;Ostrower, age 46, most recently served as Equity One&#146;s Executive Vice President since March 2015 and as its Chief Financial Officer and Treasurer since April 2015.
Prior to joining Equity One, Mr.&nbsp;Ostrower served as Managing Director and Associate Director of Research at Morgan Stanley, an investment banking firm, since 2010. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Employment Agreements </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In
connection with the appointments described above, on the Effective Date, DDR entered into an employment agreement (&#147;<B><I>Employment Agreement</I></B>&#148;) with each of Messrs. Lukes, Makinen and Ostrower (each, the
&#147;<B><I>Executive</I></B>&#148;), pursuant to which (1)&nbsp;Mr.&nbsp;Lukes will serve as President and Chief Executive Officer of DDR, (2)&nbsp;Mr.&nbsp;Makinen will serve as Chief Operating Officer of DDR, and (3)&nbsp;Mr.&nbsp;Ostrower will
serve as Chief Financial Officer of DDR. The term of each Employment Agreement will end on March&nbsp;1, 2021 (the &#147;<B><I>Expiration Date</I></B>&#148;). The material terms of the Employment Agreements are summarized below: </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Base Salary </I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Annual base salary rate of not less than $850,000 per year for Mr.&nbsp;Lukes and not less than $500,000 per year for Messrs. Makinen and Ostrower; </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Annual Incentive Compensation </I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Eligibility to receive an annual cash incentive, with the actual payout determined based on the factors and criteria established by the Executive Compensation Committee (the &#147;<B><I>Committee</I></B>&#148;) of the
Board after consultation with the Executive and, for any partial calendar year during the contract term, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days the Executive is employed by DDR during such calendar year. For
Mr.&nbsp;Lukes, the threshold, target and maximum payout levels for the annual cash incentive are 50%, 125% and 200%, respectively, and for Messrs. Makinen and Ostrower, they are 50%, 100% and 150%, respectively; </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Equity Awards </I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Eligibility to receive equity awards during employment with DDR as follows, subject to the approval of the Committee and the terms and conditions of DDR&#146;s 2012 Equity and Incentive Compensation Plan (or its
successor(s)) (the &#147;<B><I>Equity Plan</I></B>&#148;) and the applicable award agreements: </TD></TR></TABLE>

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<TD ALIGN="left" VALIGN="top">On or as soon as practicable after the Effective Date, the following awards: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="14%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a grant of service-based restricted share units (&#147;<B><I>RSUs</I></B>&#148;) (or substantially similar award) covering a number of our Common Shares, par value $0.10 per share (&#147;<B><I>Shares</I></B>&#148;),
determined by dividing the applicable award value ($2,950,000 for Mr.&nbsp;Lukes and $800,000 for each of Messrs. Makinen and Ostrower) by the average closing price of a Share for the ten trading days immediately preceding the grant date on the
principal stock exchange on which the shares then trade (the &#147;<B><I>Average Share Price</I></B>&#148;). In general, and subject to the Executive&#146;s continued employment with DDR, such RSUs will vest in four substantially equal installments
on each of the first four anniversaries of the grant date; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="14%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance shares (or substantially similar award) covering a &#147;target&#148; number of Shares determined by dividing the applicable award value ($500,000 for Mr.&nbsp;Lukes and $100,000 for each of
Messrs. Makinen and Ostrower) by the Average Share Price, subject to a performance period beginning on March&nbsp;1, 2017 and ending on February&nbsp;28, 2018; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="14%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance-based RSUs (or substantially similar award) covering a &#147;target&#148; number of Shares determined by dividing the applicable award value ($1,000,000 for Mr.&nbsp;Lukes and $200,000 for each of
Messrs. Makinen and Ostrower) by the Average Share Price, subject to a performance period beginning on March&nbsp;1, 2017 and ending on February&nbsp;28, 2019; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="14%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance-based RSUs (or substantially similar award) covering a &#147;target&#148; number of Shares determined by dividing the applicable award value ($1,500,000 for Mr.&nbsp;Lukes and $300,000 for each of
Messrs. Makinen and Ostrower) by the Average Share Price, subject to a performance period beginning on March&nbsp;1, 2017 and ending on February&nbsp;28, 2020; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">On each of March&nbsp;2, 2018 and March&nbsp;2, 2019 and March&nbsp;2, 2020, a grant of performance-based RSUs (or substantially similar award) covering a &#147;target&#148; number of Shares determined by dividing the
applicable award value ($3,000,000 for Mr.&nbsp;Lukes and $600,000 for each of Messrs. Makinen and Ostrower) by the Average Share Price, subject to a three-year performance period beginning on March&nbsp;1, 2018, March&nbsp;1, 2019 or March&nbsp;1,
2020, respectively; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The payout of the performance-based equity awards described above will vary based on relative total shareholder return performance measured over the applicable performance period, with the ultimate payout ranging from a
threshold level of 50% of target to a maximum level of 200% of target (subject to reduction by 1/3 in the event that DDR&#146;s absolute total shareholder return during the applicable performance period is negative); </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Other Benefits/Obligations </I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Eligibility to participate in all retirement, health and welfare, and other benefit plans maintained by DDR that are generally available to senior executives of DDR and with respect to which the Executive is eligible
pursuant to the terms of the applicable plans; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">For Mr.&nbsp;Lukes only, <FONT STYLE="white-space:nowrap">DDR-provided</FONT> suitable automobile service for Mr.&nbsp;Lukes&#146; business use, including all reasonable related maintenance, repairs, parking, gasoline,
insurance and other reasonable costs and expenses, which automobile may also be used by Mr.&nbsp;Lukes (and anyone authorized by Mr.&nbsp;Lukes) for personal use at no cost to Mr.&nbsp;Lukes (except for applicable taxes); </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">For Messrs. Lukes and Ostrower only, reimbursement (up to an aggregate maximum of $25,000 in any calendar year) for premiums paid by the Executive for life, disability and/or similar insurance policies;
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">For Mr.&nbsp;Lukes only, reimbursement of reasonable attorneys&#146; fees and other reasonable expenses incurred in connection with the negotiation of the Employment Agreement, up to a maximum of $20,000;
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Each Executive will also be subject to customary <FONT STYLE="white-space:nowrap">non-competition,</FONT> <FONT STYLE="white-space:nowrap">non-solicitation,</FONT> confidentiality and mutual <FONT
STYLE="white-space:nowrap">non-disparagement</FONT> requirements during and for specified periods after the term of his employment; and </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Each Employment Agreement also includes customary indemnification provisions, and provides for the reimbursement of certain legal fees and expenses, including fees and expenses incurred in relation to enforcement of the
Employment Agreement. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Severance Compensation </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Employment Agreement provides that if the Executive&#146;s employment with DDR is terminated prior to the Expiration Date by DDR without
&#147;cause&#148; (as defined in the Employment Agreement), by the Executive for &#147;good reason&#148; (also as defined in the Employment Agreement), or as a result of death or disability, DDR will generally pay the Executive, or his personal
representative or dependents, as appropriate (in addition to certain accrued compensation and benefits), subject to the execution by the Executive of a customary release of claims in favor of DDR: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a lump sum amount equal in value to the Executive&#146;s annual bonus that he would have earned for the year of termination, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on his period of service during such
year, and calculated on the basis of actual performance of the applicable performance objectives for the entire performance period (except that, if the termination is due to death or disability, the <FONT STYLE="white-space:nowrap">pro-rated</FONT>
annual bonus will be based on the &#147;target&#148; level); </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a lump sum in cash equal to 18 months of monthly COBRA premiums for health, dental and vision benefits (if COBRA coverage is elected) and the employer portion of the premium for other insurance provided by DDR (or in
the event of death, a substantially similar benefit to his beneficiaries); and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if the termination is the result of a termination by DDR other than for cause, death or disability, a lump sum amount equal to up to two times for Mr.&nbsp;Lukes and up to 1.5 times for Messrs. Makinen and Ostrower (in
each case, the &#147;<B><I>Multiplier</I></B>&#148;) the sum of (1)&nbsp;the Executive&#146;s then-current base salary plus (2)&nbsp;an amount equal to (a)&nbsp;if the termination occurs prior to the 2017 annual bonus payout, the Executive&#146;s
&#147;target&#148; annual bonus, or (b)&nbsp;if the termination occurs after the 2017 annual bonus payout, the average of the annual bonuses earned by the Executive in the three fiscal years ending immediately prior to the fiscal year in which the
termination occurs (or, if the Executive has been eligible for fewer than three such annual bonuses, the number of fiscal years preceding the year in which the termination occurs for which the Executive was eligible for an annual bonus) (the
&#147;<B><I>Average Bonus</I></B>&#148;). For Mr.&nbsp;Lukes, the Multiplier will decrease monthly from two to zero on a linear basis beginning on March&nbsp;1, 2019 and ending on the Expiration Date. For Messrs. Makinen and Ostrower, the Multiplier
will decrease monthly from 1.5 to zero on a linear basis beginning on September&nbsp;1, 2019 and ending on the Expiration Date. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Severance Compensation Following a Change in Control </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Employment Agreement also provides that, in the event of certain &#147;triggering events&#148; (which include a termination by DDR without
cause or a termination by the Executive for good reason) occurring within two years after a &#147;change in control&#148; (as defined in the Employment Agreement) DDR will pay (in addition to certain accrued compensation and benefits): (1)&nbsp;a
lump sum amount equal to 2.5 times (or, for Mr.&nbsp;Lukes, three times) the sum of the Executive&#146;s base salary as of the termination date plus an amount equal in value to his Average Bonus (except that if the termination occurs before the
payout of the 2017 annual bonus, the Average Bonus will be deemed to be the Executive&#146;s then-current &#147;target&#148; annual bonus); (2)&nbsp;a lump sum amount equal to 18 months of monthly COBRA premiums for health, dental and vision
benefits (if COBRA coverage is elected) and the employer portion of the premium for other insurance provided by DDR; and (3)&nbsp;a lump sum amount equal in value to the Executive&#146;s &#147;target&#148; annual bonus for the year of termination, <FONT
STYLE="white-space:nowrap">pro-rated</FONT> based on the Executive&#146;s period of service during such year. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The foregoing is only a
brief description of the material terms of the Employment Agreements, does not purport to be a complete description of such Employment Agreements, and is qualified in its entirety by reference to the Employment Agreements, which are filed as
Exhibits 10.1, 10.2 and 10.3 to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> and are incorporated herein by reference. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Officer Transitions </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">DDR also
announced that, effective the Effective Date, Thomas F. August would no longer serve as President and Chief Executive Officer of DDR and that he resigned as a member of the Board. In connection with his separation from DDR, Mr.&nbsp;August will
generally receive only those payments and benefits to which he is contractually entitled upon his departure &#147;without cause&#148; under the terms of his Employment Agreement with DDR, dated as of December&nbsp;1, 2016, consistent with DDR&#146;s
prior disclosure in its Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed December&nbsp;2, 2016. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Furthermore, DDR announced that, effective the Effective Date, it terminated William T. Ross from
his position as Chief Operating Officer of DDR. Mr.&nbsp;Ross is expected to remain a <FONT STYLE="white-space:nowrap">non-officer</FONT> employee of DDR for up to 90 days following the Effective Date. In connection with his termination,
Mr.&nbsp;Ross will generally receive only those payments and benefits to which he is contractually entitled upon his departure &#147;without cause&#148; under the terms of his Employment Agreement with DDR, dated as of December&nbsp;13, 2016,
consistent with DDR&#146;s prior disclosure in its Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed December&nbsp;14, 2016. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Also effective as of the Effective Date, Christa A. Vesy, who was previously serving as DDR&#146;s Executive Vice President and Chief
Accounting Officer and interim Chief Financial Officer, will cease to hold the position of interim Chief Financial Officer but will remain Executive Vice President and Chief Accounting Officer of DDR. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Company expects to record a charge in the first quarter of 2017 of approximately $10 million related to the above mentioned officer
transitions as well as other management changes and expenses, which includes approximately $3 million of non-cash expense associated with the acceleration of expense related to previously granted equity awards. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Safe Harbor</B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">DDR considers portions of
the information in this Current Report on Form 8-K to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 with respect to DDR&#146;s expectation for
future periods. Although DDR believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements
contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements,
including, among other factors, local conditions such as supply of space or a reduction in demand for real estate in the area; competition from other available space; dependence on rental income from real property; the loss of, significant
downsizing of or bankruptcy of a major tenant; redevelopment and construction activities may not achieve a desired return on investment; our ability to buy or sell assets on commercially reasonable terms; our ability to complete acquisitions or
dispositions of assets under contract; our ability to secure equity or debt financing on commercially acceptable terms or at all; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements or our
failure to satisfy conditions to the completion of these arrangements; the success of our deleveraging strategy; and any impact or results from DDR&#146;s portfolio transition or any change in strategy. For additional factors that could cause the
results of DDR to differ materially from those indicated in the forward-looking statements, please refer to DDR&#146;s Form 10-K for the year ended December 31, 2016. DDR undertakes no obligation to publicly revise these forward-looking statements
to reflect events or circumstances that arise after the date hereof. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD WIDTH="86%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:55.75pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit&nbsp;Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement, dated as of March&nbsp;2, 2017, by and between DDR and David R. Lukes</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement, dated as of March&nbsp;2, 2017, by and between DDR and Michael A. Makinen</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement, dated as of March&nbsp;2, 2017, by and between DDR and Matthew L. Ostrower</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DDR CORP.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David E. Weiss</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Name:&nbsp;David E. Weiss</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Title:&nbsp;Executive
Vice President, General &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Counsel and Secretary</P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: March&nbsp;6, 2017 </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>INDEX TO EXHIBITS </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD WIDTH="86%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:55.75pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit&nbsp;Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement, dated as of March&nbsp;2, 2017, by and between DDR and David R. Lukes</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement, dated as of March&nbsp;2, 2017, by and between DDR and Michael A. Makinen</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement, dated as of March&nbsp;2, 2017, by and between DDR and Matthew L. Ostrower</TD></TR>
</TABLE>
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<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><U>EXHIBIT 10.1 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EMPLOYMENT AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Employment
Agreement (this &#147;<B><I>Agreement</I></B>&#148;), dated as of March&nbsp;2, 2017, is by and between DDR Corp., an Ohio corporation (&#147;<B><I>DDR</I></B>&#148; or the &#147;<B><I>Company</I></B>&#148;), and David R. Lukes
(&#147;<B><I>Executive</I></B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors of DDR (the &#147;<B><I>Board</I></B>&#148;), on behalf of the Company, and Executive
desire to enter into this Agreement to reflect the terms pursuant to which Executive will serve DDR (certain capitalized terms used in this Agreement have the meanings ascribed to them in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;23</U></B> of
this Agreement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">DDR and Executive agree, effective as of the date first set forth above (the &#147;<B><I>Effective Date</I></B>&#148;), as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U>Employment, Term</U>. DDR will engage and employ Executive to render services in the administration and operation of its affairs as its President and
Chief Executive Officer (the &#147;<B><I>CEO</I></B>&#148;), performing such duties and having such responsibilities and authority as are customarily incident to the principal executive officers of companies similar in size to, and in a similar
business as, DDR, together with such other duties as, from time to time, may be specified by the Board, in a manner consistent with Executive&#146;s status as President and CEO, all in accordance with the terms and conditions of this Agreement, for
a term extending from the Effective Date through March&nbsp;1, 2021. The period of time from the Effective Date through March&nbsp;1, 2021 is sometimes referred to herein as the &#147;<B><I>Contract Period</I></B>.&#148; During the Contract Period
while executive is employed by DDR, Executive shall report to the Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <U>Full-Time Services</U>. Throughout the Contract Period while Executive is
employed by DDR, Executive will devote substantially all of Executive&#146;s business time and efforts to the service of DDR, except for (a)&nbsp;usual vacation periods and reasonable periods of illness, (b)&nbsp;reasonable periods of time devoted
to Executive&#146;s personal financial affairs, and (c)&nbsp;services as a director or trustee of other corporations or organizations, either for profit or not for profit, that are not in competition with DDR; <U>provided</U>, <U>however</U>, that
in no event shall Executive devote less than 90% of Executive&#146;s business time and efforts to the service of DDR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.
<U>Compensation</U><I>.</I>&nbsp;For all services to be rendered by Executive to DDR under this Agreement during the Contract Period while Executive is employed by DDR, including services as President and CEO and any other services specified by the
Board, DDR will pay and provide to Executive the compensation and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.1 <U>Base Salary</U>. From and after the Effective Date and through the end of the Contract Period while Executive is employed by DDR, DDR
will pay Executive base salary (the &#147;<B><I>Base Salary</I></B>&#148;), in equal monthly or more frequent installments, at the rate of not less than Eight Hundred Fifty Thousand Dollars ($850,000) per year, subject to such increases as the
Committee or the Board may approve. Any such increased Base Salary shall constitute &#147;Base Salary&#148; for purposes of this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.2 <U>Annual Bonus</U>. For each calendar year (beginning with 2017) during the Contract Period while Executive is employed by DDR, subject to
achievement of applicable performance criteria, the Company shall make an annual incentive payment to Executive, in cash, for such calendar year (an &#147;<B><I>Annual Bonus</I></B>&#148;) between January&nbsp;1 and March&nbsp;15 of the immediately
subsequent calendar year, determined and calculated in accordance with the percentages set forth on <U>Exhibit A</U> attached hereto (and rounded to the nearest dollar); <U>provided</U>, <U>however</U>, that for any partial calendar year during the
Contract Period, the Annual Bonus payout shall be <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
the number of days Executive is employed by the Company during such calendar year. The Company&#146;s payment of an Annual Bonus to Executive shall be determined based on the factors and criteria
that have been or may be reasonably established from time to time for the calculation of the Annual Bonus by the Committee after consultation with Executive. For each calendar year in the Contract Period (beginning with 2017) while Executive is
employed by DDR, the Board or the Committee will establish, in consultation with Executive, and thereafter provide Executive with written notice of, the performance metrics and their relative weighting to be used in, and any specific threshold,
target and maximum performance targets applicable to, the determination of the Annual Bonus for Executive for such calendar year not later than March&nbsp;15 of such year. There is no guaranteed Annual Bonus under this Agreement, and for each
applicable year, Executive&#146;s Annual Bonus could be as low as zero or as high as the maximum percentage set forth on <U>Exhibit A</U> attached hereto. Notwithstanding anything in this Agreement to the contrary, each Annual Bonus shall be on the
terms and subject to such conditions as are specified for the particular Company plans or programs pursuant to which the Annual Bonus is granted. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.3 <U>Specific Equity Awards</U>. The awards described in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3.3</U></B> will at all times be
subject to the approval of the Committee and to the terms and conditions of the Company&#146;s 2012 Equity and Incentive Compensation Plan (or its successor(s)), as in effect from time to time (collectively, the &#147;<B><I>Equity
Plan</I></B>&#148;), including, without limitation, all authority and powers provided or reserved to such plan&#146;s administrator thereunder, as well as the award agreements for such awards. As applicable, any awards vesting in installments shall
be rounded up to the next nearest share amount divisible by the number of installments. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Initial Grants</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(i) <U>Service-Based RSUs</U>. On or as soon as practicable after the Effective Date, Executive shall be entitled to receive a grant of
service-based restricted share units (&#147;<B><I>RSUs</I></B>&#148;) (or substantially similar award) covering a number of Shares equal to the quotient of (A) $2,950,000 divided by (B)&nbsp;the average closing price of a Share for the ten trading
days immediately preceding the date of grant on the principal stock exchange on which it then trades (the &#147;<B><I>Service-Based RSUs</I></B>&#148;). Such Service-Based RSUs will, in general, vest subject to Executive&#146;s continued employment
with the Company in four substantially equal installments on each of the first four anniversaries of the date of grant, subject to terms and conditions set forth in the applicable award agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Performance-Based Equity</U>. On or as soon as practicable after the Effective Date, Executive shall be entitled to receive the
following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance shares (or substantially similar award) covering a &#147;target&#148; number of Shares equal to the quotient of (1) $500,000 divided by (2)&nbsp;the average closing price of a Share for the ten
trading days immediately preceding the date of grant on the principal stock exchange on which it then trades (the &#147;<B><I><FONT STYLE="white-space:nowrap">One-Year</FONT> Performance Shares</I></B>&#148;), subject to a performance period
beginning on March&nbsp;1, 2017 and ending on February&nbsp;28, 2018; </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance-based RSUs (or substantially similar award) covering a &#147;target&#148; number of Shares equal to the quotient of (1)&nbsp;$1,000,000 divided by (2)&nbsp;the average closing price of a Share for
the ten trading days immediately preceding the date of grant<B> </B>on the principal stock exchange on which it then trades (the &#147;<B><I><FONT STYLE="white-space:nowrap">Two-Year</FONT> PRSUs</I></B>&#148;), subject to a performance period
beginning on March&nbsp;1, 2017 and ending on February&nbsp;28, 2019; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(C)</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance-based RSUs (or substantially similar award) covering a &#147;target&#148; number of Shares equal to the quotient of (1)&nbsp;$1,500,000 divided by (2)&nbsp;the average closing price of a Share for
the ten trading days immediately preceding the date of grant<B> </B>on the principal stock exchange on which it then trades (the &#147;<B><I>Three-Year PRSUs</I></B>&#148;), subject to a performance period beginning on March&nbsp;1, 2017 and ending
on February&nbsp;28, 2020. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">The <FONT STYLE="white-space:nowrap">One-Year</FONT> Performance Shares, the <FONT
STYLE="white-space:nowrap">Two-Year</FONT> PRSUs and the Three-Year PRSUs (the &#147;<B><I>Performance Awards</I></B>&#148;) will be subject to terms and conditions set forth in the applicable award agreement, and the payout of each of the
Performance Awards will vary in accordance with the percentages set forth on <U>Exhibit A</U> attached hereto based on Company relative total shareholder return performance achievement based upon a peer group established by the Committee, measured
over the applicable performance period, in each case, subject to reduction by 1/3 (rounded to the nearest Share) in the event that the Company&#146;s absolute total shareholder return during the applicable performance period is negative. Each of the
Performance Awards will be payable, if earned, after the expiration of the applicable performance period. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Annual Grants</U>. On
each of March&nbsp;2, 2018, March&nbsp;2, 2019 and March&nbsp;2, 2020, provided that Executive is continuously employed by DDR through such date, Executive shall be eligible to receive a grant of performance-based RSUs (or substantially similar
award) covering a &#147;target&#148; number of Shares equal to the quotient of (i) $3,000,000 divided by (ii)&nbsp;the average closing price of a Share for the ten trading days immediately preceding the date of grant on the principal stock exchange
on which it then trades, the payout of which grant will vary in accordance with the percentages set forth on <U>Exhibit A</U> attached hereto based on Company relative total shareholder return performance achievement based upon a peer group
established by the Committee, measured over a three-year performance period beginning on March&nbsp;1, 2018, March&nbsp;1, 2019 or March&nbsp;1, 2020, respectively, in each case subject to reduction by 1/3 (rounded to the nearest RSU) in the event
that the Company&#146;s absolute total shareholder return during the performance period is negative. Such performance-based RSUs will be payable, if earned, after the expiration of the applicable performance period, and such performance-based RSUs
will be subject to terms and conditions set forth in the applicable award agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.4 <U>Taxes</U>. Executive shall be solely
responsible for taxes imposed on Executive by reason of any compensation and benefits provided under this Agreement, and all such compensation and benefits shall be subject to applicable withholding taxes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <U>Benefits</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.1 <U>Retirement and Other Benefit Plans Generally</U>. Throughout the Contract Period while Executive is employed by DDR, Executive will be
entitled to participate in all retirement and other benefit plans maintained by DDR that are generally available to its senior executives and with respect to which Executive is eligible pursuant to the terms of the underlying plan or plans,
including, without limitation, the DDR 401(k) plan for its employees and any DDR deferred compensation program. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.2 <U>Insurance,
Generally</U>. Throughout the Contract Period while Executive is employed by DDR, DDR will provide an enrollment opportunity to Executive and Executive&#146;s eligible dependents for health, dental and vision insurance coverage, other insurance
(e.g., life, disability, etc.) and any other health and welfare benefits maintained by DDR from time to time, if any, during the Contract Period that are generally available to its senior executives and with respect to which Executive is eligible
pursuant to the terms of the underlying plan or plans. To the extent that DDR maintains director and officer insurance coverage, Executive shall be covered by such policy on terms no less favorable than provided to other directors or officers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.3 <U>Paid Time Off</U>. Executive will be entitled to such periods of paid time off during the Contract Period while Executive is employed by
DDR as may be provided from time to time under any DDR paid time off policy for senior executive officers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.4 <U>Automobile</U>. During
the Contract Period while Executive is employed by DDR, DDR shall provide, at its reasonable cost, Executive with suitable automobile service for Executive&#146;s business use, including all reasonable related maintenance, repairs, parking,
gasoline, insurance and other reasonable costs and expenses. Such automobile may also be used by Executive (and anyone authorized by Executive, including family members) for personal use at no cost to Executive (except for any applicable taxes for
which Executive is responsible). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.5 <U>Executive Insurance Policy</U>. During the Contract Period while Executive is employed by DDR, DDR
shall promptly (and, in any event, within thirty (30)&nbsp;days following receipt from Executive of written evidence of Executive&#146;s having made expenditures therefor) reimburse Executive (up to an aggregate maximum of $25,000 in any calendar
year) for premiums paid by Executive for life, disability and/or similar insurance policies. Executive acknowledges that such reimbursement is being provided in lieu of any accelerated or continued vesting of equity awards in connection with his
termination of employment due to death or disability. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <U>Expense Reimbursements</U>. DDR will reimburse Executive during the Contract Period while
Executive is employed by DDR for travel, entertainment, and other expenses reasonably and necessarily incurred by Executive in connection with DDR&#146;s business. Executive will provide such documentation with respect to expenses to be reimbursed
as DDR may reasonably request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. <U>Termination</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.1 <U>Death or Disability</U>. Executive&#146;s employment under this Agreement will terminate immediately upon Executive&#146;s death. DDR
shall terminate Executive&#146;s employment under this Agreement immediately upon giving notice of termination if Executive is Totally Disabled (as that term is defined in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;9.1</U></B> below) for an
aggregate of 120 days in any consecutive 12 calendar months or for 90&nbsp;consecutive days. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.2 <U>For Cause by DDR</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) During the Contract Period while Executive is employed by DDR, DDR may terminate Executive&#146;s employment under this Agreement for
&#147;<B><I>Cause</I></B>&#148; at any time upon the occurrence of any of the following circumstances:<SUP STYLE="font-size:85%; vertical-align:top"> </SUP> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(i) willful failure by Executive substantially to perform the lawful instructions of DDR or one of its Subsidiaries (other than as a result of
total or partial incapacity due to physical or mental illness) following written notice by DDR to Executive of such failure and 10 days within which to cure such failure; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(ii) Executive&#146;s theft or embezzlement of DDR property; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(iii) Executive&#146;s dishonesty in the performance of Executive&#146;s duties resulting in material harm to DDR; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(iv) any act by Executive that constitutes (A)&nbsp;a felony under the laws of the United States or any state thereof or, where applicable,
any other equivalent offense (including a crime subject to a custodial sentence) under the laws of the applicable jurisdiction, or (B)&nbsp;any other crime involving moral turpitude; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(v) willful or gross misconduct by Executive in connection with Executive&#146;s duties to DDR or otherwise which, in the reasonable good
faith judgment of the Board, could reasonably be expected to be materially injurious to the financial condition or business reputation of DDR, its Subsidiaries or affiliates; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(vi) breach of the provisions of any restrictive covenants with DDR, its Subsidiaries or affiliates. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) The termination of Executive&#146;s employment under this Agreement shall not be deemed to be for &#147;Cause&#148; pursuant to this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.2</U></B> unless and until there shall have been delivered to Executive a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the entire membership of the Board
(other than Executive) at a meeting of the Board called and held for such purpose (after reasonable notice is provided to Executive and Executive is given an opportunity, together with counsel, to be heard before the Board) finding that, in the good
faith opinion of the Board, Executive has committed the conduct described in <B><U>Sections 6.2(a)(i)</U></B>, <B><U>(ii)</U></B>, <B><U>(iii)</U></B>, <B><U>(iv)</U></B>, <B><U>(v)</U></B> or <B><U>(vi)</U></B>&nbsp;above, and specifying the
particulars thereof in detail. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.3 <U>For Good Reason by Executive</U>. During the Contract Period while Executive is employed by DDR,
Executive may terminate Executive&#146;s employment under this Agreement for &#147;Good Reason&#148; if any of the following circumstances occur: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) DDR materially reduces Executive&#146;s authority, duties or responsibilities from those set forth in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;1</U></B> above; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) DDR materially reduces Executive&#146;s Base Salary, Annual Bonus
opportunity, or annual equity grant opportunity from that set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> above (but only to the extent that such reduction results in a substantial reduction in Executive&#146;s total
compensation); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) Executive is required to report to anyone other than the Board, such as a corporate officer
or employee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) DDR changes Executive&#146;s principal place of employment to a location that is more than 50 miles from the geographical
center of New York, NY, or changes DDR&#146;s principal executive offices to a location that is more than 50 miles from the geographical center of Cleveland, Ohio; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(e) DDR materially breaches any of its obligations under this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, no termination of employment by Executive shall constitute a termination for &#147;Good Reason&#148; unless
(i)&nbsp;Executive gives DDR notice of the existence of an event described in clause (a), (b), (c), (d) or (e)&nbsp;above, within sixty (60)&nbsp;days following the occurrence thereof and (ii)&nbsp;DDR does not remedy such event described in clause
(a), (b), (c), (d) or (e)&nbsp;above, as applicable, within thirty (30)&nbsp;days of receiving the notice described in the preceding clause (i), and (iii)&nbsp;in all cases, Executive terminates employment pursuant to this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.3</U></B> within one year from the date the event described in clause (a), (b), (c), (d) or (e)&nbsp;above initially occurred. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.4 <U>Without Cause by DDR</U>. During the Contract Period while Executive is employed by DDR, DDR may terminate Executive&#146;s employment
under this Agreement at any time without Cause pursuant to written notice provided to Executive not less than 90 days in advance of such termination upon the affirmative vote of a majority of all of the members of the Board (other than Executive).
Any termination under this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.4</U></B> will be effective at such time during the Contract Period while Executive is employed by DDR as may be specified in that written notice, subject to the preceding
sentence. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.5 <U>Without Good Reason by Executive</U>. During the Contract Period while Executive is employed by DDR, Executive may
terminate Executive&#146;s employment under this Agreement at any time without Good Reason pursuant to written notice provided to DDR not less than 90 days in advance of such termination. Any termination under this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.5</U></B> will be effective at such time during the Contract Period while Executive is employed by DDR as Executive may specify in that written notice, subject to the preceding sentence. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <U>Payments upon Termination</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.1 <U>Upon
Termination For Cause or Without Good Reason</U>. If Executive&#146;s employment under this Agreement is terminated by DDR for Cause or by Executive without Good Reason during the Contract Period, DDR will pay and provide to Executive the
Executive&#146;s Base Salary and any accrued but unused paid time off through the Termination Date in accordance with DDR policy to the extent not already paid and continuing health, dental and vision insurance and other insurance (e.g. life,
disability, etc.) at the levels specified in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;4.2</U></B> through the Termination Date, and, except as may otherwise be required by law, DDR will not pay or provide to Executive any further compensation
or other benefits under this Agreement. DDR will pay any Base Salary referred to in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.1</U></B> to Executive within 30 days of the Termination Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.2 <U>Upon Termination Without Cause or For Good Reason</U>. If Executive&#146;s employment
under this Agreement is terminated by DDR other than due to Cause, death or disability (pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B>), or by Executive for Good Reason, during the Contract Period, and
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B> does not apply, DDR will pay and provide to Executive the amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>, except that DDR will not be
obligated to pay the lump sum amounts specified in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B> <B><U>(c)</U></B>, <B><U>(d)</U></B> and <B><U>(e)</U></B>&nbsp;unless either (x)&nbsp;DDR is deemed to have waived its right to present
and require a Release as provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B> or (y)&nbsp;Executive has timely executed a Release as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>. The amounts and
benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B> are as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to
Executive&#146;s Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive within 30 days of the Termination
Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year immediately preceding the calendar year in
which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive on the same date and in the same amount that the Annual Bonus for such year would have been paid if Executive&#146;s employment had not been
terminated, but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount
equal in value to Executive&#146;s Annual Bonus that would have been earned for the calendar year in which the Termination Date occurs, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that Executive is employed by DDR
during the applicable performance period, and calculated on the basis of actual performance of the applicable performance objectives for the entire performance period. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will
pay this amount to Executive on the same date that the Annual Bonus for such year would have been paid if Executive&#146;s employment had not been terminated, but in any event not later than March&nbsp;15 of the calendar year following the calendar
year in which the Termination Date occurs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum amount equal to the product of (i)&nbsp;the sum of (A)&nbsp;Executive&#146;s
annual Base Salary as of the Termination Date, plus (B)&nbsp;an amount equal to the average of the Annual Bonuses earned by Executive in the three fiscal years ending immediately prior to the fiscal year in which the Termination Date occurs (or, if
Executive has been eligible for fewer than three such Annual Bonuses, the number of fiscal years preceding the year in which the Termination Date occurs for which Executive was eligible for an Annual Bonus) (the &#147;<B><I>Average Annual
Bonus</I></B>&#148;) multiplied by (ii)&nbsp;a fraction, the numerator of which is the lesser of (A) 24 and (B)&nbsp;the number of calendar months remaining in the Contract Period as of the Termination Date, and the denominator of which is 12.
Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date. Notwithstanding the foregoing, in the event that the
Termination Date occurs prior to the determination of Annual Bonus payouts with respect to the 2017 calendar year, the Average Annual Bonus will be deemed to be Executive&#146;s &#147;Target&#148; Annual Bonus as in effect on the Termination Date.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(e) A lump sum in cash in an amount equal to the product of (i) 18 multiplied by (ii)&nbsp;the
sum of (A)&nbsp;the monthly COBRA premium for health, dental and vision benefits but only if Executive timely elects continuation coverage under DDR&#146;s health, dental and vision plans pursuant to COBRA, plus (B)&nbsp;the employer portion of the
monthly premium for other DDR provided insurance (e.g., life, disability, etc.) in effect for Executive as of the Termination Date. Such payments shall be taxable to Executive. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>,
DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.3 <U>Upon
Termination by Reason of Death</U>. If Executive&#146;s employment under this Agreement is terminated by reason of Executive&#146;s death during the Contract Period, DDR will pay, or cause to be paid, and provide, or cause to be provided, to
Executive&#146;s personal representative and Executive&#146;s eligible dependents, as appropriate, the amounts and benefits specified in this<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B>, except that DDR will not be obligated to pay
the lump sum amounts specified in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> <B><U>(c)</U></B> and <B><U>(d)</U></B>&nbsp;unless either (x)&nbsp;DDR is deemed to have waived its right to present and require a Release as provided in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B> or (y)&nbsp;Executive&#146;s personal representative has timely executed a Release as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>. The amounts and benefits
specified in this<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> are as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to
Executive&#146;s Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive&#146;s personal representative
within 30 days of the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year
immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive&#146;s personal representative on the same date and in the same amount that the Annual Bonus for such
year would have been paid if Executive&#146;s employment had not been terminated, but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount equal in value to Executive&#146;s Annual Bonus that would have been earned for the calendar year in which the
Termination Date occurs at the &#147;Target&#148; level, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that Executive is employed by DDR during the applicable performance period. Subject to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive&#146;s personal representative as soon as practicable (but no later than 74 days) following the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum in cash to Executive&#146;s personal representative as soon as practicable (but no later than 74 days) following
Executive&#146;s death in an amount equal to the product of (i) 18 multiplied by (ii)&nbsp;the sum of (A)&nbsp;the monthly premium for DDR provided health, dental and vision insurance benefits at the levels specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;4.2</U></B> in effect for Executive as of Executive&#146;s death, plus (B)&nbsp;the employer portion of the monthly premium for other DDR provided insurance (e.g. life, disability, etc.) in effect for
Executive as of Executive&#146;s death. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.4 <U>Upon Termination by Reason of Disability</U>. If Executive&#146;s employment under this
Agreement is terminated by DDR pursuant to<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B> during the Contract Period following Executive&#146;s disability, DDR will pay and provide to Executive and Executive&#146;s eligible dependents,
as appropriate, the amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, except that DDR will not be obligated to pay the lump sum amounts specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B> <B><U>(c)</U></B> and <B><U>(d)</U></B>&nbsp;unless either (x)&nbsp;DDR is deemed to have waived its right to present and require a Release as provided in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B> or (y)&nbsp;Executive (or in the event of Executive&#146;s legal incapacity, Executive&#146;s personal representative) has timely executed a Release as contemplated by
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>. The amounts and benefits specified in this<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B> are as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to Executive&#146;s Base Salary and any accrued but unused paid time off for the year through the Termination Date,
to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive within 30 days of the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year immediately preceding the calendar year in which the
Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive on the same date and in the same amount that the Annual Bonus for such year would have been paid if Executive&#146;s employment had not been terminated,
but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount equal in
value to Executive&#146;s Annual Bonus that would have been earned for the calendar year in which the Termination Date occurs at the &#147;Target&#148; level, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that
Executive is employed by DDR during the applicable performance period. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the
Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum in cash in an amount equal to the product of (i) 18 multiplied by (ii)&nbsp;the sum of (A)&nbsp;the
monthly COBRA premium for health, dental and vision insurance benefits but only if Executive timely elects continuation coverage under DDR&#146;s health, dental and vision plans pursuant to COBRA, plus (B)&nbsp;the employer portion of the monthly
premium for other DDR provided insurance (e.g., life, disability, etc.) in effect for Executive as of the Termination Date. Such payments shall be taxable to Executive. DDR will pay this amount to Executive as soon as practicable (but no later than
74 days) following the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.5 <U>Upon Termination In Connection With a Change in Control</U>. Upon the occurrence of a
Triggering Event during the Contract Period while Executive is employed by DDR, DDR will pay and provide to Executive the amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B>, and DDR will be deemed to
have waived its right to provide a Release as provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B>, and the provision of a Release will not be a condition to Executive receiving any payment or benefit from DDR under this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B>. The amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B> are as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to Executive&#146;s Base Salary and any accrued but unused paid time off for the year through the Termination Date,
to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive within 30 days of the Termination Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year
immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive on the same date and in the same amount that the Annual Bonus for such year would have been paid if
Executive&#146;s employment had not been terminated, but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount equal in value to Executive&#146;s Annual Bonus that would have been earned for the calendar year in which the
Termination Date occurs at the &#147;Target&#148; level, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that Executive is employed by DDR during the applicable performance period. Subject to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum amount equal to 3 times the sum of (i)&nbsp;Executive&#146;s annual Base Salary as of the Termination Date, plus (ii)&nbsp;an
amount equal to the Average Annual Bonus. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date.
Notwithstanding the foregoing, in the event that the Termination Date occurs prior to the determination of Annual Bonus payouts with respect to the 2017 calendar year, the Average Annual Bonus will be deemed to be Executive&#146;s &#147;Target&#148;
Annual Bonus as in effect on the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(e) A lump sum in cash in an amount equal to the product of (i) 18 multiplied by
(ii)&nbsp;the sum of (A)&nbsp;the monthly COBRA premium for health, dental and vision benefits but only if Executive timely elects continuation coverage under DDR&#146;s health, dental and vision plans pursuant to COBRA, plus (B)&nbsp;the employer
portion of the monthly premium for other DDR provided insurance (e.g., life, disability, etc.) in effect for Executive as of the Termination Date. Such payments shall be taxable to Executive. Subject to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8. <U>Release</U>. This <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> will apply only upon termination of Executive&#146;s employment during the
Contract Period (a)&nbsp;by DDR without Cause, (b)&nbsp;by Executive for Good Reason, (c)&nbsp;by reason of Executive&#146;s death or (d)&nbsp;by DDR pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B> following Executive&#146;s
disability. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.1 <U>Presentation of Release by DDR</U>. If this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> applies, DDR may
present to Executive (or in the case of Executive&#146;s death or legal incapacity, to Executive&#146;s personal representative), not later than 21 days after the Termination Date, a form of release (a &#147;<B><I>Release</I></B>&#148;) of all
current and future claims, known or unknown, arising on or before the date on which the Release is to be executed, that Executive or Executive&#146;s assigns have or may have against DDR or any Subsidiary, and the directors, officers, and affiliates
of any of them, substantially in the form attached hereto as <U>Exhibit B</U>, but subject to such modifications as may be reasonably determined necessary or appropriate by the Committee to reflect changes in applicable law or reasonable changes in
best practices between the Effective Date and the execution of such Release, together with a covering message in which DDR advises Executive (or Executive&#146;s personal representative) that the Release is being presented in accordance with this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.1</U></B> and that a failure by Executive (or Executive&#146;s personal representative) to execute and return the Release as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>
would relieve DDR of the obligation to make payments otherwise due to Executive (or to Executive&#146;s personal representative) under one or more portions of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>,
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the case may be. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.2 <U>Effect of Failure by DDR to Present Release</U>. If DDR fails to present a Release and
covering message to Executive (or Executive&#146;s personal representative) as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.1</U></B>, DDR will be deemed to have waived the requirement that Executive (or Executive&#146;s personal
representative) execute a Release as a condition to receiving payments under any portion of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>, <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the case may be. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.3 <U>Execution of Release by Executive or
Executive</U><U>&#146;</U><U>s Personal Representative</U>. If DDR does present a Release and covering message to Executive (or Executive&#146;s personal representative) as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.1</U></B>,
Executive (or Executive&#146;s personal representative) will have until 60 days after the Termination Date (i.e., at least 39 days after presentation of the Release to Executive (or Executive&#146;s personal representative)) within which to deliver
an executed copy of the Release to DDR and thereby satisfy the condition to receiving payments under any portion of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>, <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the case may be, provided that Executive (or Executive&#146;s personal representative) does not revoke the execution of the Release during any applicable revocation period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.4 <U>Effect of Failure to Execute Release or of Revocation of Release</U>. If Executive (or Executive&#146;s personal representative) fails
to deliver an executed copy of the Release to DDR within 60 days after the Termination Date or revokes the execution of the Release during any applicable revocation period, Executive (or Executive&#146;s personal representative) will be deemed to
have waived the right to receive all payments under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>, <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the case may
be, that were conditioned on the Release. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9. <U>Disability Definitions; Physical Examination</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">9.1 <U>Definitions</U>. For all purposes of this Agreement: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) Executive&#146;s &#147;Own Occupation&#148; means the regular occupation in which Executive is engaged under this Agreement at the time
Executive becomes disabled. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) &#147;Total Disability&#148; means that, because of sickness or injury, Executive is not able to perform
the material and substantial duties of Executive&#146;s Own Occupation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) &#147;Totally Disabled&#148; means that Executive suffers from
Total Disability (and Executive will be deemed to continue to be Totally Disabled so long as Executive is not able to work in Executive&#146;s Own Occupation even if Executive works in some other capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">9.2 <U>Physical Examination</U>. If either DDR or Executive, at any time or from time to time after receipt of notice of Executive&#146;s Total
Disability from the other, desires to contend that Executive is not Totally Disabled, Executive will promptly submit to a physical examination by the chief of medicine of any major accredited hospital in the New York, New York or Cleveland, Ohio
areas (at DDR&#146;s reasonable cost) and, unless that physician issues his or her written statement to the effect that, in his or her opinion, based on his or her diagnosis, Executive is capable of resuming Executive&#146;s Own Occupation and
discharging the duties of Executive&#146;s Own Occupation in accordance with the terms of this Agreement, Executive will be deemed to be and to continue to be Totally Disabled for all purposes of this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.<I> </I><U>No Set</U><U><FONT STYLE="white-space:nowrap">-Off;</FONT> No Obligation to Seek Other Employment
or to Otherwise Mitigate Damages; No Effect Upon Other Plans</U><I>. </I>DDR&#146;s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations under this Agreement will not be affected by any <FONT
STYLE="white-space:nowrap">set-off,</FONT> counterclaim, recoupment, defense, or other claim whatsoever that DDR or any Subsidiary or affiliate may have against Executive, except that the prohibition on
<FONT STYLE="white-space:nowrap">set-off,</FONT> counterclaim, recoupment, defense, or other claim contained in this sentence will not apply if Executive&#146;s employment is terminated by DDR for Cause. Executive will not be required to mitigate
damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise. The amount of any payment provided for under this Agreement will not be reduced by any compensation or benefits earned by Executive as
the result of employment by another employer or otherwise after the Termination Date. Neither the provisions of this Agreement nor the making of any payment provided for under this Agreement, nor the termination of DDR&#146;s obligations under this
Agreement, will reduce any amounts otherwise payable, or in any way diminish Executive&#146;s rights, under any incentive compensation plan, stock option or stock appreciation rights plan, restricted stock plan or agreement, deferred compensation,
retirement, or supplemental retirement plan, stock purchase and savings plan, disability or insurance plan, or other similar contract, plan, or arrangement of DDR or any Subsidiary, all of which will be governed by their respective terms. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">11.<I> </I><U>Payments Are in Lieu of Severance Payments</U><I>.</I>&nbsp;If Executive becomes entitled to receive payments under this Agreement as a result of
termination of Executive&#146;s employment, those payments will be in lieu of any and all other claims or rights that Executive may have against DDR for severance, separation, and/or salary continuation pay upon that termination of Executive&#146;s
employment. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12. <U>Covenants and Confidential Information</U>. Executive acknowledges DDR&#146;s reliance on and expectation of Executive&#146;s continued
commitment to performance of Executive&#146;s duties and responsibilities during the Contract Period while Executive is employed by DDR and Executive assumes the obligations set out in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B>
in light of that reliance and expectation on the part of DDR. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.1 <U>Noncompetition</U>. During the Contract Period while Executive is
employed by DDR, and for a period of 12 months thereafter, Executive will not, directly or indirectly, own, manage, control, or participate in the ownership, management, or control of, or be employed or engaged by or otherwise affiliated or
associated as a consultant, independent contractor, or otherwise with, any entity that has been designated as being part of DDR&#146;s peer group, as determined by the Committee and set forth in the most recent proxy statement filed by DDR;
<U>provided</U>, <U>however</U>, that the ownership by Executive of not more than three percent of any class of publicly traded securities of any entity will not be deemed a violation of this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.1</U></B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.2 <U>Confidentiality</U>. Throughout and after the Contract Period,
Executive will not disclose, divulge, discuss, copy, or otherwise use or suffer to be used in any manner, in competition with, or contrary to the interests of, DDR, any confidential information relating to&nbsp;DDR&#146;s operations, properties, or
otherwise to its particular business or other trade secrets of DDR, it being acknowledged by Executive that all such information regarding the business of&nbsp;DDR compiled or obtained by, or furnished to, Executive during Executive&#146;s
employment by or association with DDR is confidential information and DDR&#146;s exclusive property. The restrictions in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.2</U></B> will not apply to any information to the extent that it
(a)&nbsp;is clearly obtainable in the public domain, (b)&nbsp;becomes obtainable in the public domain, except by reason of the breach by </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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Executive of Executive&#146;s obligations under this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.2</U></B>, (c) was not acquired by Executive in connection with Executive&#146;s employment
or affiliation with DDR, (d)&nbsp;was not acquired by Executive from DDR or its representatives, or (e)&nbsp;is required to be disclosed by rule of law or by order of a court or governmental body or agency. However, nothing herein is intended to
interfere with or discourage the disclosure of a suspected violation of the law to any governmental entity, or to discourage Executive from participating in an investigation by a governmental entity regarding a suspected violation of the law. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.3 <U><FONT STYLE="white-space:nowrap">Non-Disparagement</FONT></U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) Throughout and after the Contract Period, outside the ordinary course of business on behalf of the Company, Executive will not make or
issue, or procure any person, firm, or entity to make or issue, any statement in any form, including written, oral and electronic communications of any kind, which conveys negative or adverse information concerning DDR or its Subsidiaries or
affiliates, or any of their legal predecessors, successors, assigns, parents, subsidiaries, divisions or other affiliates, or any of the foregoing&#146;s respective past, present or future directors, officers, employees or representatives
(collectively, the &#147;<B><I><FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Parties</I></B>&#148;), or any <FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Party&#146;s business, or its actions, to any person or entity,
regardless of the truth or falsity of such statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) Throughout and after the Contract Period, DDR will reasonably direct the
executive officers and directors of DDR not to make or issue, or procure any person, firm, or entity to make or issue, any statement in any form, including written, oral and electronic communications of any kind, which conveys negative or adverse
information concerning Executive or any of Executive&#146;s legal successors, assigns, or other affiliates, or any of the foregoing&#146;s respective past, present or future directors, officers, employees or representatives (collectively, the
&#147;<B><I>Executive</I></B> <B><I><FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Parties</I></B>&#148;), or any Executive <FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Party&#146;s business, or its actions, to any person or
entity, regardless of the truth or falsity of such statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) This <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.3</U></B> does
not apply to truthful testimony or disclosure compelled or required by applicable law or legal process. Notwithstanding anything in this Agreement to the contrary, Executive is not prohibited from providing information voluntarily to the Securities
and Exchange Commission pursuant to Section 21F of the Securities Exchange Act of 1934, as amended. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.4 <U>Nonsolicitation</U>. During
the Contract Period while Executive is employed by DDR, and for a period of 12 months thereafter, Executive will not directly or indirectly solicit or induce or attempt to solicit or induce any employee of DDR and/or of any Subsidiary or affiliate
to terminate his or her employment with DDR and/or any Subsidiary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.5 <U>Remedies</U>. Executive acknowledges that the remedy at law for
any breach by Executive of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> may be inadequate and that the damages following from any such breach may not be readily susceptible to being measured in monetary terms. Accordingly,
Executive agrees that, upon adequate proof of Executive&#146;s violation of any legally enforceable provision of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B>, DDR will be entitled to immediate injunctive relief and may obtain a
temporary order restraining any threatened or further breach. Nothing in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> will be deemed to limit DDR&#146;s remedies at law or in equity for any breach by Executive of any of the
provisions of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> that may be pursued or availed of by DDR. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.6 <U>Acknowledgement</U>. Executive has carefully considered the nature and extent of the
restrictions upon Executive and the rights and remedies conferred upon DDR under this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B>, and hereby acknowledges and agrees that the same are reasonable in time and territory, are designed to
eliminate competition that otherwise would be unfair to DDR, do not stifle the inherent skill and experience of Executive, would not operate as a bar to Executive&#146;s sole means of support, are fully required to protect the legitimate interests
of DDR, and do not confer a benefit upon DDR disproportionate to the detriment to Executive. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">13. <U>Compliance with Section 409A</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.1 <U>Six Month Delay on Certain Payments, Benefits, and Reimbursements</U>. If Executive is a &#147;specified employee&#148; for purposes of
Section&nbsp;409A, as determined under DDR&#146;s policy for determining specified employees on the Termination Date, each payment, benefit, or reimbursement paid or provided under this Agreement that constitutes a &#147;deferral of
compensation&#148; within the meaning of Section 409A, that is to be paid or provided as a result of a &#147;separation from service&#148; within the meaning of Section 409A, and that would otherwise be paid or provided at any time (a
&#147;<B><I>Scheduled Time</I></B>&#148;) that is on or before the date (the &#147;<B><I>Six Month Date</I></B>&#148;) that is exactly six months after the Termination Date (other than payments, benefits, or reimbursements that are treated as
separation pay under Section <FONT STYLE="white-space:nowrap">1.409A-1(b)(9)(v)</FONT> of the Treasury Regulations) will not be paid or provided at the Scheduled Time but will be accumulated (together with interest at the applicable federal rate
under Section 7872(f)(2)(A) of the Internal Revenue Code in effect on the Termination Date) through the Six Month Date and paid or provided during the period of 30 consecutive days beginning on the first business day after the Six Month Date (that
period of 30 consecutive days, the &#147;<B><I>Seventh Month after the Termination Date</I></B>&#148;), except that if Executive dies before the Six Month Date, the payments, benefits, or reimbursements will be accumulated only through the date of
Executive&#146;s death and thereafter paid or provided not later than 30 days after the date of death. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.2 <U>Additional Limitations on
Reimbursements and <FONT STYLE="white-space:nowrap">In-Kind</FONT> Benefits</U>. The reimbursement of expenses or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits provided under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> or
under any other section of this Agreement that are taxable benefits (and that are not disability pay or death benefit plans within the meaning of Section 409A) are intended to comply, to the maximum extent possible, with the exception to Section
409A set forth in Section <FONT STYLE="white-space:nowrap">1.409A-1(b)(9)(v)</FONT> of the Treasury Regulations. To the extent that any reimbursement of expenses or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits provided under
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> or under any other section of this Agreement do not qualify for that exception and are otherwise deferred compensation subject to Section 409A , then they will be subject to the following
additional rules: (i)&nbsp;any reimbursement of eligible expenses will be paid within 30 days following Executive&#146;s written request for reimbursement; <U>provided</U>, <U>however</U>, that Executive provides written notice no later than 60 days
before the last day of the calendar year following the calendar year in which the expense was incurred so that DDR can make the reimbursement within the time periods required by Section 409A; (ii)&nbsp;the amount of expenses eligible for
reimbursement, or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits provided, during any calendar year will not affect the amount of expenses eligible for reimbursement, or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits to be
provided, during any other calendar year; and (iii)&nbsp;the right to reimbursement or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits will not be subject to liquidation or exchange for any other benefit. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.3 <U>Compliance Generally</U>. Each payment or reimbursement and the provision of each benefit
under this Agreement shall be considered a separate payment and not one of a series of payments for purposes of Section 409A. DDR and Executive intend that the payments and benefits provided under this Agreement will either be exempt from the
application of, or comply with, the requirements of Section 409A. This Agreement is to be construed, administered, and governed in a manner that effects that intent and DDR will not take any action that is inconsistent with that intent. Without
limiting the foregoing, the payments and benefits provided under this Agreement may not be deferred, accelerated, extended, paid out, or modified in a manner that would result in the imposition of an additional tax under Section 409A upon Executive.
Notwithstanding any provision of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> to the contrary, if the period commencing on the Termination Date begins in one taxable year of Executive and the 74th day following the Termination Date is in
a subsequent taxable year, any amounts payable under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> which are considered deferred compensation under Section 409A shall be paid in such subsequent taxable year. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.4 <U>Termination of Employment to Constitute a Separation from Service</U>. The parties intend that the phrase &#147;termination of
employment&#148; and words and phrases of similar import mean a &#147;separation from service&#148; with DDR within the meaning of Section 409A. Executive and DDR will take all steps necessary (including taking into account this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.4</U></B> when considering any further agreement regarding provision of services by Executive to DDR after the Termination Date) to ensure that (a)&nbsp;any termination of employment under this
Agreement constitutes a &#147;separation from service&#148; within the meaning of Section 409A, and (b)&nbsp;the Termination Date is the date on which Executive experiences a &#147;separation from service&#148; within the meaning of Section 409A.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.<I> </I><U>Indemnification</U><I>.</I>&nbsp;DDR will indemnify Executive, to the full extent permitted or authorized by the Ohio General Corporation
Law as it may from time to time be amended, if Executive is made or threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative, by reason of the fact
that Executive is or was a director, officer, or employee of DDR and/or of any Subsidiary, or is or was serving at the request of DDR and/or of any Subsidiary as a director, trustee, officer, or employee of a corporation, partnership, joint venture,
trust, or other enterprise. The indemnification provided by this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;14</U></B> will not be deemed exclusive of any other rights to which Executive may be entitled under the articles of incorporation or the
regulations of DDR and/or of any Subsidiary, or any agreement, vote of shareholders or disinterested directors, or otherwise, both as to action in Executive&#146;s official capacity and as to action in another capacity while holding such office, and
will continue as to Executive after Executive has ceased to be a director, trustee, officer, or employee and will inure to the benefit of Executive&#146;s heirs, executors, and administrators. In particular, Executive will continue to be entitled to
the full benefit of the indemnification agreement dated as of the Effective Date between Executive and DDR (the &#147;<B><I>Indemnification Agreement</I></B>&#148;) for so long as that Indemnification Agreement remains in effect according to its
terms. In the event of any conflict or inconsistency between the provisions of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;14</U></B> and the provisions of the Indemnification Agreement, the provisions of the Indemnification Agreement shall
control. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">15.<I> </I><U>Adjustment of Certain Payments and Benefits</U>. Notwithstanding any provision of this Agreement to the contrary, if any payment or
benefit to be paid or provided hereunder or under any other plan or agreement would be an &#147;Excess Parachute Payment,&#148; within the meaning of Section 280G of the Internal Revenue Code, or any successor provision thereto, but for the
application of this sentence, then the payments and benefits to be paid or provided hereunder shall be reduced to the minimum extent necessary </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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(but in no event to less than zero) so that no portion of any such payment or benefit, as so reduced, constitutes an Excess Parachute Payment; <U>provided</U>, <U>however</U>, that the foregoing
reduction shall be made only if and to the extent that such reduction would result in an increase in the aggregate payments and benefits to be provided, determined on an <FONT STYLE="white-space:nowrap">after-tax</FONT> basis (taking into account
the excise tax imposed pursuant to Section&nbsp;4999 of the Internal Revenue Code, or any successor provision thereto, any tax imposed by any comparable provision of state law, and any applicable federal, state and local income taxes). The
determination of whether any reduction in such payments or benefits to be provided hereunder is required pursuant to the preceding sentence shall be made at the expense of the Company, if requested by Executive or the Company, by the Company&#146;s
independent accountants or a nationally recognized law firm chosen by the Company. The fact that Executive&#146;s right to payments or benefits may be reduced by reason of the limitations contained in this Section shall not of itself limit or
otherwise affect any other rights of Executive under this Agreement. In the event that any payment or benefit intended to be provided hereunder is required to be reduced pursuant to this Section, then the reduction shall occur in the following
order: (a)&nbsp;reduction of the lump sum amount set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5(d)</U></B>; (b)&nbsp;reduction of the lump sum amount set forth in <B><U>Section 7.5(c)</U></B>; and (c)&nbsp;reduction, on a <FONT
STYLE="white-space:nowrap">pro-rata</FONT> basis, of any other &#147;Excess Parachute Payments&#148; payable under any plan or arrangement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">16. <U>Certain
Expenses</U>. This <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;16</U></B> will apply only to expenses that (a)&nbsp;are otherwise described in one or more of its subsections and (b)&nbsp;are incurred at any time from the Effective Date through
the fifth anniversary of Executive&#146;s death. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">16.1 <U>Reimbursement of Certain Expenses</U>. DDR will pay, as incurred, all expenses,
including the reasonable fees of counsel engaged by Executive, of Executive in (a)&nbsp;prosecuting any action to compel DDR to comply with the terms of this Agreement upon receipt from Executive of an undertaking to repay DDR for such expenses if
it is ultimately determined by a court of competent jurisdiction that Executive had no reasonable grounds for bringing such action or (b)&nbsp;defending any action brought by a party other than Executive or Executive&#146;s personal representative
to have this Agreement declared invalid or unenforceable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">16.2 <U>Advancement of Certain Expenses</U>. Expenses (including the reasonable
fees of counsel engaged by Executive) incurred by Executive in defending any action, suit, or proceeding commenced or threatened against Executive for any action or failure to act as an employee, officer or director of DDR and/or of any Subsidiary
will be paid by DDR, as they are incurred, in advance of final disposition of the action, suit, or proceeding upon receipt of an undertaking by or on behalf of Executive in which Executive agrees to reasonably cooperate with DDR and/or the
Subsidiary, as the case may be, concerning the action, suit, or proceeding, and (a)&nbsp;if the action, suit, or proceeding is commenced or threatened against Executive for any action or failure to act as a director, to repay the amount if it is
proved by clear and convincing evidence in a court of competent jurisdiction that his action or failure to act involved an act or omission undertaken with deliberate intent to cause injury to DDR or a Subsidiary or with reckless disregard for the
best interests of DDR or a Subsidiary, or (b)&nbsp;if the action, suit, or proceeding is commenced or threatened against Executive for any action or failure to act as an officer or employee, to repay the amount if it is ultimately determined that
Executive is not entitled to be indemnified. The obligation of DDR to advance expenses provided for in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;16.2</U></B> will not be deemed exclusive of any other rights to which Executive may be
entitled under the articles of incorporation or the regulations of DDR or of any Subsidiary, or any agreement, vote of shareholders or disinterested directors, or otherwise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">17.<I> </I><U>Negotiation Fees</U>.<I> </I>DDR hereby agrees to reimburse Executive for his reasonable
attorneys&#146; fees and other reasonable expenses incurred in connection with the negotiation of this Agreement, up to a maximum of $20,000. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">18.<I>
</I><U>Survival of Obligations</U><I>.</I>&nbsp;Except as is otherwise expressly provided in this Agreement, the respective obligations of DDR and Executive under this Agreement will survive any termination of Executive&#146;s employment under this
Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">19. <U>Notices</U><I>.</I>&nbsp;Notices and all other communications provided for in this Agreement must be in writing and will be deemed to
have been duly given upon receipt (or rejection) when delivered in person or by overnight delivery (to the chief legal officer of DDR in the case of notices to DDR and to Executive in the case of notices to Executive) or mailed by United States
registered mail, return receipt requested, postage prepaid, and addressed, if to DDR, to its principal place of business, attention: Chief Legal Officer, and, if to Executive, to Executive&#146;s home address last shown on the records of DDR, or to
such other address or addresses as either party may furnish to the other in accordance with this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;19</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">20. <U>Entire Agreement</U>. Except as otherwise set forth below in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20</U></B>, this Agreement and the
agreements specifically referenced herein supersede in their entirety all prior agreements between the parties, if any, and all understandings between them, if any, with respect to the subject matter of this Agreement. As provided in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;14</U></B>, Executive will continue to be entitled to the full benefit of the Indemnification Agreement for so long as it remains in effect according to its terms. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">21. <U>Mandatory Arbitration Before a Change in Control</U>. <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;21.1</U></B> will apply if and only if either party
notifies the other, in writing, that it is demanding resolution of a then-current controversy or claim by arbitration and the notice is provided by the notifying party to the other party before any Change in Control has occurred. Nothing in this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;21</U></B> will limit the right of DDR to seek and obtain injunctive relief in a court of equity for any breach or threatened breach by Executive of any of Executive&#146;s covenants contained in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> above. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.1 <U>Scope of Arbitration</U>. If this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;21.1</U></B> applies, any controversy or claim arising out of or relating to this Agreement or any breach of this Agreement will be settled by binding arbitration to be held before three arbitrators and
conducted in accordance with the Employment Arbitration Rules and Mediation Procedures of the American Arbitration Association in the City of Cleveland, Ohio or New York, New York. The decision of the arbitrators will be final and binding on both
parties and judgment on any award rendered by the arbitrators may be entered in any court of competent jurisdiction. Costs and expenses of any such arbitration will be borne by the parties as may be directed by the arbitrators taking into account
the extent to which the positions taken by each of the parties are reasonable. The arbitrators will have the power to issue mandatory orders and restraining orders in connection with any such arbitration. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.2 <U>Other Disputes</U>. If <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;21.1</U></B> does not apply to any claim or controversy between
the parties, the parties may nevertheless, but need not, mutually agree to submit any controversy or claim to arbitration as though <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;21.1</U></B> did apply. Failing any such mutual agreement, either
party may bring proceedings against the other with respect to any claim or controversy in any court of competent jurisdiction that satisfies the venue requirements set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;22.8</U></B>. Nothing in
this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;21.2</U></B> imposes upon either party any obligation to discuss possible arbitration of any claim or controversy to which <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;21.1</U></B> does not apply
before bringing any court proceedings with respect to that claim or controversy. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">22. <U>Miscellaneous</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.1 <U>No Conflict</U>. Executive represents and warrants that Executive is not a party to any agreement, contract, or understanding, whether
employment or otherwise, that would restrict or prohibit Executive from undertaking or performing employment in accordance with the terms and conditions of this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.2 <U>Assistance</U>. During the term of this Agreement and thereafter, Executive will provide reasonable assistance to DDR in litigation and
regulatory matters that relate to events that occurred during Executive&#146;s period of employment with DDR and its predecessors, and will provide reasonable assistance to DDR with matters relating to its corporate history from the period of
Executive&#146;s employment with it or its predecessors. Executive will be entitled to reimbursement of reasonable <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> travel or related costs and expenses
relating to any such cooperation or assistance that occurs following the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.3 <U>Severability</U>. The provisions of
this Agreement are severable and if any one or more provision is determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions and any partially unenforceable provision to the extent enforceable in any
jurisdiction nevertheless will be binding and enforceable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.4 <U>Benefit of Agreement</U>. The rights and obligations of DDR under this
Agreement will inure to the benefit of, and will be binding on, DDR and its successors and assigns, and the rights and obligations (other than obligations to perform services) of Executive under this Agreement will inure to the benefit of, and will
be binding upon, Executive and Executive&#146;s heirs, personal representatives, and assigns. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.5 <U>No Waiver</U>. The failure of either
party to enforce any provision or provisions of this Agreement will not in any way be construed as a waiver of any such provision or provisions as to any future violations thereof, nor prevent that party from later enforcing each and every other
provision of this Agreement. The rights granted the parties in this Agreement are cumulative and the waiver of any single remedy will not constitute a waiver of that party&#146;s right to assert all other legal remedies available to it under the
circumstances. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.6 <U>Modification</U>. This Agreement may not be modified or terminated orally. No modification or termination will be
valid unless in writing and signed by the party against which the modification or termination is sought to be enforced. Notwithstanding anything in this Agreement to the contrary, however, Executive acknowledges and agrees that this Agreement and
any compensation described herein are subject to the terms and conditions of the Company&#146;s clawback policy (if any) as may be in effect from time to time specifically to implement Section 10D of the Securities Exchange Act of 1934, as amended,
and any applicable rules or regulations promulgated thereunder (including applicable rules and regulations of any national securities exchange on which the Shares may be traded) (the &#147;<B><I>Compensation Recovery Policy</I></B>&#148;), and that
applicable sections of this Agreement and any related documents shall be deemed superseded by and subject to the terms and conditions of the Compensation Recovery Policy from and after the effective date thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.7 <U>Merger or Transfer of Assets of DDR</U><I>.</I>&nbsp;During the Contract Period while Executive is employed by DDR, DDR will not
consolidate with or merge into any other corporation, or transfer all or substantially all of its assets to another corporation, unless such other corporation </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
assumes this Agreement in a signed writing and delivers a copy thereof to Executive, which signed writing may consist of the merger or sale agreement, or similar document. Upon any such
assumption, the successor corporation will become obligated to perform the obligations of DDR under this Agreement, and the terms &#147;DDR&#148; and the &#147;Company,&#148; as used in this Agreement, will be deemed to refer to that successor
corporation, and the term &#147;the Board&#148; as used in this Agreement will be deemed to refer to the board of directors of that successor corporation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.8 <U>Governing Law and Venue</U>. The provisions of this Agreement will be governed by and construed in accordance with the laws of the
State of Ohio applicable to contracts made in and to be performed exclusively within that State, notwithstanding any conflict of law provision to the contrary. Subject to the mandatory arbitration provisions of
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;21</U></B>, the parties consent to venue and personal jurisdiction over them in the courts of the State of Ohio and federal courts sitting in Cleveland, Ohio, for purposes of construing and enforcing
this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.9 <U>Termination of Status as Director or Officer</U>. Notwithstanding anything in this Agreement to the contrary,
unless otherwise agreed to by DDR and Executive prior to the Termination Date, Executive shall be deemed to have automatically resigned from all directorships and offices with DDR and its Subsidiaries, and their affiliates (including joint
ventures), as of the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">23. <U>Definitions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">23.1 <U>Cause</U>. The term &#147;Cause&#148; has the meaning set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.2</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">23.2 <U>Change in Control</U>. The term &#147;Change in Control&#148; means the occurrence, during the Contract Period while Executive is
employed by DDR, of any of the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) consummation of a consolidation or merger in which DDR is not the surviving corporation, the
sale of substantially all of the assets of DDR, or the liquidation or dissolution of DDR; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) any person or other entity (other than DDR
or a Subsidiary or any DDR employee benefit plan (including any trustee of any such plan acting in its capacity as trustee)) purchases any Shares (or securities convertible into Shares) pursuant to a tender or exchange offer without the prior
consent of the Board, or becomes the beneficial owner of securities of DDR representing 30% or more of the voting power of DDR&#146;s outstanding securities without the prior consent of the Board; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) during any <FONT STYLE="white-space:nowrap">two-year</FONT> period, individuals who at the beginning of such period constitute the entire
Board cease to constitute a majority of the Board; <U>provided</U>, that any person becoming a director of DDR during such <FONT STYLE="white-space:nowrap">two-year</FONT> period whose election, or nomination for election by DDR&#146;s shareholders,
was approved by a vote of at least <FONT STYLE="white-space:nowrap">two-thirds</FONT> of the directors who at the beginning of such period constituted the entire Board (either by a specific vote or by approval of DDR&#146;s proxy statement in which
such person is named as a nominee of DDR for director), but excluding for this purpose any person whose initial assumption of office as a director of DDR occurs as a result of either an actual or threatened election contest with respect to the
election or removal of directors of DDR or other actual or threatened solicitation of proxies or consents by or on behalf of an individual, corporation, partnership, group, associate or other entity or person other than the Board, shall be, for
purposes of this <B><U>Section 23.2(c)</U></B>, considered as though such person was a member of the Board at the beginning of such period. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">23.3 <U>Committee</U>. The term &#147;Committee&#148; means the Executive Compensation Committee
of the Board or any other committee or subcommittee authorized by the Board to discharge the Board&#146;s responsibilities relating to the compensation of DDR&#146;s executives and directors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">23.4 <U>Good Reason</U>. The term &#147;Good Reason&#148; has the meaning set forth in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.3</U></B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">23.5 <U>Internal Revenue Code</U>. The term &#147;Internal Revenue Code&#148;
means the Internal Revenue Code of 1986, as amended. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">23.6 <U>Section</U>. References in this Agreement to one or more &#147;Sections&#148;
are to sections of this Agreement, except for references to certain Sections of the Internal Revenue Code. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">23.7
<U>Section</U><U></U><U>&nbsp;409A</U>. The term &#147;Section&nbsp;409A&#148; means Section&nbsp;409A of the Internal Revenue Code. References in this Agreement to Section 409A are intended to include any proposed, temporary, or final regulations,
or any other guidance, promulgated with respect to Section 409A by the U.S. Department of Treasury or the Internal Revenue Service. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">23.8
<U>Shares</U>. The term &#147;Shares&#148; means the Common Shares, par value $0.10 per share, of DDR. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">23.9 <U>Subsidiary</U>. The term
&#147;Subsidiary&#148; means any corporation, partnership, or other entity a majority of the voting control of which is directly or indirectly owned or controlled by DDR. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">23.10 <U>Termination Date</U>. The term &#147;Termination Date&#148; means the date on which Executive&#146;s employment with DDR and its
Subsidiaries terminates. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">23.11 <U>Triggering Event</U>. A &#147;Triggering Event&#148; for the purpose of this Agreement will be deemed to
have occurred if, during the Contract Period while Executive is employed by DDR: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) Within two years after the date on which a Change in
Control occurs, DDR terminates the employment of Executive, other than in the case of a termination for Cause, a termination by DDR pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B> following Executive&#146;s disability, or a
termination based on death; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) Within two years after the date on which a Change in Control occurs, Executive terminates his
employment with DDR for Good Reason. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, DDR and Executive have executed this Agreement, DDR by its duly authorized
officer, as of the date first written above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>DDR CORP.</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David E. Weiss&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Name: David E. Weiss</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title:&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice
President,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Counsel and Secretary</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David R.
Lukes&nbsp;&nbsp;&nbsp;&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>DAVID R. LUKES</B></P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT A </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ANNUAL BONUS OPPORTUNITY </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AS A PERCENTAGE OF <FONT STYLE="white-space:nowrap">YEAR-END</FONT> BASE SALARY </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="29%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Threshold</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Target</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Maximum</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">50%</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">125%</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">200%</TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PERFORMANCE SHARE AND PRSU AWARD OPPORTUNITIES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AS A PERCENTAGE OF &#147;TARGET&#148; </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="29%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Threshold</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Target</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Maximum</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">50%</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">200%</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT B </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Form of Release </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In consideration of
certain benefits provided to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (&#147;<B><I>Executive</I></B>&#148;) and to be received by Executive from DDR Corp. (the
&#147;<B><I>Compan</I></B>y&#148;) as described in the Employment Agreement between the Company and Executive dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (the &#147;<B><I>Agreement</I></B>&#148;): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Claims Released</U></B>. Executive, for himself and on behalf of anyone claiming through Executive including each and all of Executive&#146;s legal representatives, administrators, executors, heirs, successors and
assigns (collectively, the &#147;<B><I>Executive Releasors</I></B>&#148;), does hereby fully, finally and forever release, absolve and discharge the Company and each and all of its legal predecessors, successors, assigns, fiduciaries, parents,
subsidiaries, divisions and other affiliates, and each of the foregoing&#146;s respective past, present and future principals, partners, shareholders, directors, officers, employees, agents, consultants, attorneys, trustees, administrators,
executors and representatives (collectively, the &#147;<B><I>Company Released Parties</I></B>&#148;), of, from and for any and all claims, causes of action, lawsuits, controversies, liabilities, losses, damages, costs, expenses and demands of any
nature whatsoever, at law or in equity, whether known or unknown, asserted or unasserted, foreseen or unforeseen, that the Executive Releasors (or any of them) now have, have ever had, or may have against the Company Released Parties (or any of
them) based upon, arising out of, concerning, relating to or resulting from any act, omission, matter, fact, occurrence, transaction, claim, contention, statement or event occurring or existing at any time in the past up to and including the date on
which Executive signs this Release, including, without limitation, (a)&nbsp;all claims arising out of or in any way relating to Executive&#146;s employment with or separation of employment from the Company or its affiliates; (b)&nbsp;all claims for
compensation or benefits, including salary, commissions, bonuses, vacation pay, expense reimbursements, severance pay, fringe benefits, stock options, restricted stock units or any other ownership interests in the Company Released Parties;
(c)&nbsp;all claims for breach of contract, wrongful termination and breach of the implied covenant of good faith and fair dealing; (d)&nbsp;all tort claims, including claims for fraud, defamation, invasion of privacy and emotional distress;
(e)&nbsp;all other common law claims; and (f)&nbsp;all claims (including claims for discrimination, harassment, retaliation, attorneys fees, expenses or otherwise) that were or could have been asserted by Executive or on his behalf in any federal,
state, or local court, commission, or agency, or under any federal, state, local, employment, services or other law, regulation, ordinance, constitutional provision, executive order or other source of law, including without limitation under any of
the following laws, as amended from time to time: the Age Discrimination in Employment Act (the &#147;<B><I>ADEA</I></B>&#148;), as amended by the Older Workers&#146; Benefit Protection Act of 1990 (the &#147;<B><I>OWBPA</I></B>&#148;), Title VII of
the Civil Rights Act of 1964, 42 U.S.C. &#167;&#167; 1981 &amp; 1981a, the Americans with Disabilities Act, the Equal Pay Act, the Employee Retirement Income Security Act, the Lilly Ledbetter Fair Pay Act of 2009, the Family and Medical Leave Act,
Sarbanes-Oxley Act of 2002, the National Labor Relations Act, the Rehabilitation Act of 1973, the WARN Act, Federal Executive Order 11246, and the Genetic Information Nondiscrimination Act. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B><U>Scope of Release</U></B>. Nothing in this Release (a)&nbsp;shall release the Company from any of its
obligations set forth in the Agreement or any claim that by law is <FONT STYLE="white-space:nowrap">non-waivable,</FONT> (b)&nbsp;shall release the Company from any obligation to defend and/or indemnify Executive against any third party claims
arising out of any action or inaction by Executive during the time of his employment and </P></TD></TR></TABLE>

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within the scope of his duties with the Company to the extent Executive has any such defense or indemnification right, and to the extent permitted by applicable law and to the extent the claims
are covered by the Company&#146;s director&nbsp;&amp; officer liability insurance or (c)&nbsp;shall affect Executive&#146;s right to file a claim for workers&#146; compensation or unemployment insurance benefits. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Executive further acknowledges that by signing this Release, Executive does not waive the right to file a charge against the Company with, communicate with or participate in any investigation by the EEOC, the Securities
and Exchange Commission or any comparable state or local agency. However, Executive waives and releases, to the fullest extent legally permissible, all entitlement to any form of monetary relief arising from a charge Executive or others may file,
including without limitation any costs, expenses or attorneys&#146; fees. Executive understands that this waiver and release of monetary relief would not affect an enforcement agency&#146;s ability to investigate a charge or to pursue relief on
behalf of others. Notwithstanding the foregoing, Executive will not give up his right to any benefits to which he is entitled under any retirement plan of the Company that is intended to be qualified under Section 401(a) of the Internal Revenue Code
of 1986, as amended, or his rights, if any, under Part 6 of Subtitle B of Title I of the Employee Retirement Income Security Act of 1974, as amended (COBRA), or any monetary award offered by the Securities and Exchange Commission pursuant to Section
21F of the Securities Exchange Act of 1934, as amended. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Knowing and Voluntary ADEA Waiver</U></B>. In compliance with the requirements of the OWBPA, Executive acknowledges by his signature below that, with respect to the rights and claims waived and released in this
Release under the ADEA, Executive specifically acknowledges and agrees as follows: (a)&nbsp;Executive has read and understands the terms of this Release; (b)&nbsp;Executive has been advised and hereby is advised, and has had the opportunity, to
consult with an attorney before signing this Release; (c)&nbsp;Executive is releasing the Company and the other Company Released Parties from, among other things, any claims that Executive may have against them pursuant to the ADEA; (d)&nbsp;the
releases contained in this Release do not cover rights or claims that may arise after Executive signs this Release; (e)&nbsp;Executive has been given a period of 21 days in which to consider and execute this Release (although Executive may elect not
to use the full <FONT STYLE="white-space:nowrap">21-day</FONT> period at Executive&#146;s option); (f) Executive may revoke this Release during the <FONT STYLE="white-space:nowrap">seven-day</FONT> period following the date on which Executive signs
this Release, and this Release will not become effective and enforceable until the <FONT STYLE="white-space:nowrap">seven-day</FONT> revocation period has expired; and (g)&nbsp;any such revocation must be submitted in writing to the Company c/o
David E. Weiss, Executive Vice President, General Counsel and Secretary, DDR Corp., 3300 Enterprise Parkway, Beachwood, Ohio 44122 prior to the expiration of such <FONT STYLE="white-space:nowrap">seven-day</FONT> revocation period. If Executive
revokes this Release within such <FONT STYLE="white-space:nowrap">seven-day</FONT> revocation period, it shall be null and void. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Reaffirmation of Restrictive Covenants</U></B>. Executive agrees to and reaffirms his obligations as outlined in Section&nbsp;12 of the Agreement (&#147;<B><I>Restrictive Covenants</I></B>&#148;), and acknowledges
that the Restrictive Covenants remain in full force and effect. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Entire Agreement</U></B>. This Release, the Agreement, and the documents referenced therein contain the entire agreement between Executive and the Company, and take priority over any other written or oral
understanding or agreement that may have existed in the past. Executive acknowledges that no other promises or agreements have been offered for this Release (other than those described above) and that no other promises or agreements will be binding
unless they are in writing and signed by Executive and the Company. </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I agree to the terms and conditions set forth in this Release. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B>EXECUTIVE</B></TD></TR>
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<TD VALIGN="top">Date:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><U>EXHIBIT 10.2 </U></B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EMPLOYMENT AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Employment
Agreement (this &#147;<B><I>Agreement</I></B>&#148;), dated as of March&nbsp;2, 2017, is by and between DDR Corp., an Ohio corporation (&#147;<B><I>DDR</I></B>&#148; or the &#147;<B><I>Company</I></B>&#148;), and Michael A. Makinen
(&#147;<B><I>Executive</I></B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors of DDR (the &#147;<B><I>Board</I></B>&#148;), on behalf of the Company, and Executive
desire to enter into this Agreement to reflect the terms pursuant to which Executive will serve DDR (certain capitalized terms used in this Agreement have the meanings ascribed to them in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;22</U></B> of
this Agreement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">DDR and Executive agree, effective as of the date first set forth above (the &#147;<B><I>Effective Date</I></B>&#148;), as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U>Employment, Term</U>. DDR will engage and employ Executive to render services in the administration and operation of its affairs as its Chief Operating
Officer, reporting directly to DDR&#146;s Chief Executive Officer (the &#147;<B><I>CEO</I></B>&#148;) and performing such duties and having such responsibilities and authority as are customarily incident to the principal operating officers of
companies similar in size to, and in a similar business as, DDR, together with such other duties as, from time to time, may be specified by the CEO, in a manner consistent with Executive&#146;s status as Chief Operating Officer, all in accordance
with the terms and conditions of this Agreement, for a term extending from the Effective Date through March&nbsp;1, 2021. The period of time from the Effective Date through March&nbsp;1, 2021 is sometimes referred to herein as the
&#147;<B><I>Contract Period</I></B>.&#148; During the Contract Period while executive is employed by DDR, Executive shall report to the Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2.
<U>Full-Time Services</U>. Throughout the Contract Period while Executive is employed by DDR, Executive will devote substantially all of Executive&#146;s business time and efforts to the service of DDR, except for (a)&nbsp;usual vacation periods and
reasonable periods of illness, (b)&nbsp;reasonable periods of time devoted to Executive&#146;s personal financial affairs, and (c)&nbsp;services as a director or trustee of other corporations or organizations, either for profit or not for profit,
that are not in competition with DDR; <U>provided</U>, <U>however</U>, that in no event shall Executive devote less than 90% of Executive&#146;s business time and efforts to the service of DDR. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <U>Compensation</U><I>.</I>&nbsp;For all services to be rendered by Executive to DDR under this Agreement during the Contract Period while Executive is
employed by DDR, including services as Chief Operating Officer and any other services specified by the CEO, DDR will pay and provide to Executive the compensation and benefits specified in this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.1 <U>Base Salary</U>. From and after the Effective Date and through the end of
the Contract Period while Executive is employed by DDR, DDR will pay Executive base salary (the &#147;<B><I>Base Salary</I></B>&#148;), in equal monthly or more frequent installments, at the rate of not less than Five Hundred Thousand Dollars
($500,000) per year, subject to such increases as the Committee or the Board of Directors of DDR (the &#147;<B><I>Board</I></B>&#148;) may approve. Any such increased Base Salary shall constitute &#147;Base Salary&#148; for purposes of this
Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.2 <U>Annual Bonus</U>. For each calendar year (beginning with 2017) during the Contract Period while Executive is employed by
DDR, subject to achievement of applicable performance criteria, the Company shall make an annual incentive payment to Executive, in cash, for such calendar year (an &#147;<B><I>Annual Bonus</I></B>&#148;) between January&nbsp;1 and March&nbsp;15 of
the immediately subsequent calendar year, determined and calculated in accordance with the percentages set forth on <U>Exhibit</U><U></U><U>&nbsp;A</U> attached hereto (and rounded to the nearest dollar); <U>provided</U>, <U>however</U>, that for
any </P>

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partial calendar year during the Contract Period, the Annual Bonus payout shall be <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days Executive is employed by the
Company during such calendar year. The Company&#146;s payment of an Annual Bonus to Executive shall be determined based on the factors and criteria that have been or may be reasonably established from time to time for the calculation of the Annual
Bonus by the Committee after consultation with Executive. For each calendar year in the Contract Period (beginning with 2017) while Executive is employed by DDR, the Board or the Committee will establish, in consultation with Executive, and
thereafter provide Executive with written notice of, the performance metrics and their relative weighting to be used in, and any specific threshold, target and maximum performance targets applicable to, the determination of the Annual Bonus for
Executive for such calendar year not later than March&nbsp;15 of such year. There is no guaranteed Annual Bonus under this Agreement, and for each applicable year, Executive&#146;s Annual Bonus could be as low as zero or as high as the maximum
percentage set forth on <U>Exhibit A</U> attached hereto. Notwithstanding anything in this Agreement to the contrary, each Annual Bonus shall be on the terms and subject to such conditions as are specified for the particular Company plans or
programs pursuant to which the Annual Bonus is granted. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.3 <U>Specific Equity Awards</U>. The awards described in this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3.3</U></B> will at all times be subject to the approval of the Committee and to the terms and conditions of the Company&#146;s 2012 Equity and Incentive Compensation Plan (or its successor(s)), as in
effect from time to time (collectively, the &#147;<B><I>Equity Plan</I></B>&#148;), including, without limitation, all authority and powers provided or reserved to such plan&#146;s administrator thereunder, as well as the award agreements for such
awards. As applicable, any awards vesting in installments shall be rounded up to the next nearest share amount divisible by the number of installments. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Initial Grants</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(i)
<U>Service-Based RSUs</U>. On or as soon as practicable after the Effective Date, Executive shall be entitled to receive a grant of service-based restricted share units (&#147;<B><I>RSUs</I></B>&#148;) (or substantially similar award) covering a
number of Shares equal to the quotient of (A) $800,000 divided by (B)&nbsp;the average closing price of a Share for the ten trading days immediately preceding the date of grant on the principal stock exchange on which it then trades (the
&#147;<B><I>Service-Based RSUs</I></B>&#148;). Such Service-Based RSUs will, in general, vest subject to Executive&#146;s continued employment with the Company in four substantially equal installments on each of the first four anniversaries of the
date of grant, subject to terms and conditions set forth in the applicable award agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Performance-Based Equity</U>. On or
as soon as practicable after the Effective Date, Executive shall be entitled to receive the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance shares (or substantially similar award) covering a &#147;target&#148; number of Shares equal to the quotient of (1) $100,000 divided by (2)&nbsp;the average closing price of a Share for the ten
trading days immediately preceding the date of grant on the principal stock exchange on which it then trades (the &#147;<B><I><FONT STYLE="white-space:nowrap">One-Year</FONT> Performance Shares</I></B>&#148;), subject to a performance period
beginning on March&nbsp;1, 2017 and ending on February&nbsp;28, 2018; </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance-based RSUs (or substantially similar award) covering a &#147;target&#148; number of Shares equal to the quotient of (1) $200,000 divided by (2)&nbsp;the average closing price of a Share for the
ten trading days immediately preceding the date of grant<B> </B>on the principal stock exchange on which it then trades (the &#147;<B><I><FONT STYLE="white-space:nowrap">Two-Year</FONT> PRSUs</I></B>&#148;), subject to a performance period beginning
on March&nbsp;1, 2017 and ending on February&nbsp;28, 2019; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(C)</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance-based RSUs (or substantially similar award) covering a &#147;target&#148; number of Shares equal to the quotient of (1) $300,000 divided by (2)&nbsp;the average closing price of a Share for the
ten trading days immediately preceding the date of grant<B> </B>on the principal stock exchange on which it then trades (the &#147;<B><I>Three-Year PRSUs</I></B>&#148;), subject to a performance period beginning on March&nbsp;1, 2017 and ending on
February&nbsp;28, 2020. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">The <FONT STYLE="white-space:nowrap">One-Year</FONT> Performance Shares, the <FONT
STYLE="white-space:nowrap">Two-Year</FONT> PRSUs and the Three-Year PRSUs (the &#147;<B><I>Performance Awards</I></B>&#148;) will be subject to terms and conditions set forth in the applicable award agreement, and the payout of each of the
Performance Awards will vary in accordance with the percentages set forth on <U>Exhibit A</U> attached hereto based on Company relative total shareholder return performance achievement based upon a peer group established by the Committee, measured
over the applicable performance period, in each case, subject to reduction by 1/3 (rounded to the nearest Share) in the event that the Company&#146;s absolute total shareholder return during the applicable performance period is negative. Each of the
Performance Awards will be payable, if earned, after the expiration of the applicable performance period. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Annual Grants</U>. On
each of March&nbsp;2, 2018, March&nbsp;2, 2019 and March&nbsp;2, 2020, provided that Executive is continuously employed by DDR through such date, Executive shall be eligible to receive a grant of performance-based RSUs (or substantially similar
award) covering a &#147;target&#148; number of Shares equal to the quotient of (i) $600,000 divided by (ii)&nbsp;the average closing price of a Share for the ten trading days immediately preceding the date of grant on the principal stock exchange on
which it then trades, the payout of which grant will vary in accordance with the percentages set forth on <U>Exhibit</U><U></U><U>&nbsp;A</U> attached hereto based on Company relative total shareholder return performance achievement based upon a
peer group established by the Committee, measured over a three-year performance period beginning on March&nbsp;1, 2018, March&nbsp;1, 2019 or March&nbsp;1, 2020, respectively, in each case subject to reduction by 1/3 (rounded to the nearest RSU) in
the event that the Company&#146;s absolute total shareholder return during the performance period is negative. Such performance-based RSUs will be payable, if earned, after the expiration of the applicable performance period, and such
performance-based RSUs will be subject to terms and conditions set forth in the applicable award agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.4 <U>Taxes</U>. Executive
shall be solely responsible for taxes imposed on Executive by reason of any compensation and benefits provided under this Agreement, and all such compensation and benefits shall be subject to applicable withholding taxes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <U>Benefits</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.1 <U>Retirement and Other Benefit Plans Generally</U>. Throughout the Contract Period while Executive is employed by DDR, Executive will be
entitled to participate in all retirement and other benefit plans maintained by DDR that are generally available to its senior executives and with respect to which Executive is eligible pursuant to the terms of the underlying plan or plans,
including, without limitation, the DDR 401(k) plan for its employees and any DDR deferred compensation program. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.2 <U>Insurance,
Generally</U>. Throughout the Contract Period while Executive is employed by DDR, DDR will provide an enrollment opportunity to Executive and Executive&#146;s eligible dependents for health, dental and vision insurance coverage, other insurance
(e.g., life, disability, etc.) and any other health and welfare benefits maintained by DDR from time to time, if any, during the Contract Period that are generally available to its senior executives and with respect to which Executive is eligible
pursuant to the terms of the underlying plan or plans. To the extent that DDR maintains officer insurance coverage, Executive shall be covered by such policy on terms no less favorable than provided to other officers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.3 <U>Paid Time Off</U>. Executive will be entitled to such periods of paid time off during the Contract Period while Executive is employed by
DDR as may be provided from time to time under any DDR paid time off policy for senior executive officers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <U>Expense Reimbursements</U>. DDR will
reimburse Executive during the Contract Period while Executive is employed by DDR for travel, entertainment, and other expenses reasonably and necessarily incurred by Executive in connection with DDR&#146;s business. Executive will provide such
documentation with respect to expenses to be reimbursed as DDR may reasonably request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. <U>Termination</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.1 <U>Death or Disability</U>. Executive&#146;s employment under this Agreement will terminate immediately upon Executive&#146;s death. DDR
shall terminate Executive&#146;s employment under this Agreement immediately upon giving notice of termination if Executive is Totally Disabled (as that term is defined in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;9.1</U></B> below) for an
aggregate of 120 days in any consecutive 12 calendar months or for 90&nbsp;consecutive days. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.2 <U>For Cause by DDR</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) During the Contract Period while Executive is employed by DDR, DDR may terminate Executive&#146;s employment under this Agreement for
&#147;<B><I>Cause</I></B>&#148; at any time upon the occurrence of any of the following circumstances:<SUP STYLE="font-size:85%; vertical-align:top"> </SUP> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(i) willful failure by Executive substantially to perform the lawful instructions of DDR or one of its Subsidiaries (other than as a result of
total or partial incapacity due to physical or mental illness) following written notice by DDR to Executive of such failure and 10 days within which to cure such failure; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(ii) Executive&#146;s theft or embezzlement of DDR property; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(iii) Executive&#146;s dishonesty in the performance of Executive&#146;s duties resulting in
material harm to DDR; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(iv) any act by Executive that constitutes (A)&nbsp;a felony under the laws of the United States or any state
thereof or, where applicable, any other equivalent offense (including a crime subject to a custodial sentence) under the laws of the applicable jurisdiction, or (B)&nbsp;any other crime involving moral turpitude; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(v) willful or gross misconduct by Executive in connection with Executive&#146;s duties to DDR or otherwise which, in the reasonable good
faith judgment of the Board, could reasonably be expected to be materially injurious to the financial condition or business reputation of DDR, its Subsidiaries or affiliates; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(vi) breach of the provisions of any restrictive covenants with DDR, its Subsidiaries or affiliates. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) The termination of Executive&#146;s employment under this Agreement shall not be deemed to be for &#147;Cause&#148; pursuant to this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.2</U></B> unless and until there shall have been delivered to Executive a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the entire membership of the Board
at a meeting of the Board called and held for such purpose (after reasonable notice is provided to Executive and Executive is given an opportunity, together with counsel, to be heard before the Board) finding that, in the good faith opinion of the
Board, Executive has committed the conduct described in <B><U>Sections 6.2(a)(i)</U></B>, <B><U>(ii)</U></B>, <B><U>(iii)</U></B>, <B><U>(iv)</U></B>, <B><U>(v)</U></B> or <B><U>(vi)</U></B>&nbsp;above, and specifying the particulars thereof in
detail. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.3 <U>For Good Reason by Executive</U>. During the Contract Period while Executive is employed by DDR, Executive may terminate
Executive&#146;s employment under this Agreement for &#147;Good Reason&#148; if any of the following circumstances occur: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) DDR
materially reduces Executive&#146;s authority, duties or responsibilities from those set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;1</U></B> above; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) DDR materially reduces Executive&#146;s Base Salary, Annual Bonus opportunity, or annual equity grant opportunity from that set forth in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> above (but only to the extent that such reduction results in a substantial reduction in Executive&#146;s total compensation); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) Executive is required to report to anyone other than the CEO; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) DDR changes Executive&#146;s principal place of employment to a location that is more than 50 miles from the geographical center of New
York, NY, or changes DDR&#146;s principal executive offices to a location that is more than 50 miles from the geographical center of Cleveland, Ohio; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(e) DDR materially breaches any of its obligations under this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, no termination of employment by Executive shall constitute a
termination for &#147;Good Reason&#148; unless (i)&nbsp;Executive gives DDR notice of the existence of an event described in clause (a), (b), (c), (d) or (e)&nbsp;above, within sixty (60)&nbsp;days following the occurrence thereof and (ii)&nbsp;DDR
does not remedy such event described in clause (a), (b), (c), (d) or (e)&nbsp;above, as applicable, within thirty (30)&nbsp;days of receiving the notice described in the preceding clause (i), and (iii)&nbsp;in all cases, Executive terminates
employment pursuant to this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.3</U></B> within one year from the date the event described in clause (a), (b), (c), (d) or (e)&nbsp;above initially occurred. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.4 <U>Without Cause by DDR</U>. During the Contract Period while Executive is employed by DDR, DDR may terminate Executive&#146;s employment
under this Agreement at any time without Cause pursuant to written notice provided to Executive not less than 90 days in advance of such termination upon the affirmative vote of a majority of all of the members of the Board. Any termination under
this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.4</U></B> will be effective at such time during the Contract Period while Executive is employed by DDR as may be specified in that written notice, subject to the preceding sentence. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.5 <U>Without Good Reason by Executive</U>. During the Contract Period while Executive is employed by DDR, Executive may terminate
Executive&#146;s employment under this Agreement at any time without Good Reason pursuant to written notice provided to DDR not less than 90 days in advance of such termination. Any termination under this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.5</U></B> will be effective at such time during the Contract Period while Executive is employed by DDR as Executive may specify in that written notice, subject to the preceding sentence. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <U>Payments upon Termination</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.1
<U>Upon Termination For Cause or Without Good Reason</U>. If Executive&#146;s employment under this Agreement is terminated by DDR for Cause or by Executive without Good Reason during the Contract Period, DDR will pay and provide to Executive the
Executive&#146;s Base Salary and any accrued but unused paid time off through the Termination Date in accordance with DDR policy to the extent not already paid and continuing health, dental and vision insurance and other insurance (e.g. life,
disability, etc.) at the levels specified in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;4.2</U></B> through the Termination Date, and, except as may otherwise be required by law, DDR will not pay or provide to Executive any further compensation
or other benefits under this Agreement. DDR will pay any Base Salary referred to in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.1</U></B> to Executive within 30 days of the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.2 <U>Upon Termination Without Cause or For Good Reason</U>. If Executive&#146;s employment under this Agreement is terminated by DDR other
than due to Cause, death or disability (pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B>), or by Executive for Good Reason, during the Contract Period, and <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B> does not
apply, DDR will pay and provide to Executive the amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>, except that DDR will not be obligated to pay the lump sum amounts specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B> <B><U>(c)</U></B>, <B><U>(d)</U></B> and <B><U>(e)</U></B>&nbsp;unless either (x)&nbsp;DDR is deemed to have waived its right to present and require a Release as provided in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B> or (y)&nbsp;Executive has timely executed a Release as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>. The amounts and benefits specified in this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B> are as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to Executive&#146;s Base Salary and
any accrued but unused paid time off for the year through the Termination Date, to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive within 30 days of the Termination Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year
immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive on the same date and in the same amount that the Annual Bonus for such year would have been paid if
Executive&#146;s employment had not been terminated, but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount equal in value to Executive&#146;s Annual Bonus that would have been earned for the calendar year in which the
Termination Date occurs, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that Executive is employed by DDR during the applicable performance period, and calculated on the basis of actual performance of the applicable
performance objectives for the entire performance period. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive on the same date that the Annual Bonus for such year would have been paid if
Executive&#146;s employment had not been terminated, but in any event not later than March&nbsp;15 of the calendar year following the calendar year in which the Termination Date occurs. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum amount equal to the product of (i)&nbsp;the sum of (A)&nbsp;Executive&#146;s annual Base Salary as of the Termination Date, plus
(B)&nbsp;an amount equal to the average of the Annual Bonuses earned by Executive in the three fiscal years ending immediately prior to the fiscal year in which the Termination Date occurs (or, if Executive has been eligible for fewer than three
such Annual Bonuses, the number of fiscal years preceding the year in which the Termination Date occurs for which Executive was eligible for an Annual Bonus) (the &#147;<B><I>Average Annual Bonus</I></B>&#148;) multiplied by (ii)&nbsp;the lesser of
(A)&nbsp;1.5 and (B)&nbsp;1.5 multiplied by a fraction (not greater than 1), the numerator of which is the number of calendar months remaining in the Contract Period as of the Termination Date, and the denominator of which is 18. Subject to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date. Notwithstanding the foregoing, in the event that the Termination
Date occurs prior to the determination of Annual Bonus payouts with respect to the 2017 calendar year, the Average Annual Bonus will be deemed to be Executive&#146;s &#147;Target&#148; Annual Bonus as in effect on the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(e) A lump sum in cash in an amount equal to the product of (i) 18 multiplied by (ii)&nbsp;the sum of (A)&nbsp;the monthly COBRA premium for
health, dental and vision benefits but only if Executive timely elects continuation coverage under DDR&#146;s health, dental and vision plans pursuant to COBRA, plus (B)&nbsp;the employer portion of the monthly premium for other DDR provided
insurance (e.g., life, disability, etc.) in effect for Executive as of the Termination Date. Such payments shall be taxable to Executive. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive
as soon as practicable (but no later than 74 days) following the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.3 <U>Upon Termination by Reason of Death</U>. If
Executive&#146;s employment under this Agreement is terminated by reason of Executive&#146;s death during the Contract Period, DDR will pay, or cause to be paid, and provide, or cause to be provided, to Executive&#146;s personal representative and
Executive&#146;s eligible dependents, as appropriate, the amounts and benefits specified in this<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B>, except that DDR will not be obligated to pay the lump sum amounts specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> <B><U>(c)</U></B> and <B><U>(d)</U></B>&nbsp;unless either (x)&nbsp;DDR is deemed to have waived its right to present and require a Release as provided in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B> or (y)&nbsp;Executive&#146;s personal representative has timely executed a Release as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>. The amounts and benefits
specified in this<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> are as follows: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to Executive&#146;s Base Salary and any accrued but unused paid time
off for the year through the Termination Date, to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive&#146;s personal representative within 30 days of the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year immediately preceding the calendar year in which the
Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive&#146;s personal representative on the same date and in the same amount that the Annual Bonus for such year would have been paid if Executive&#146;s
employment had not been terminated, but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount equal in value to Executive&#146;s Annual Bonus that would have been earned for the calendar year in which the
Termination Date occurs at the &#147;Target&#148; level, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that Executive is employed by DDR during the applicable performance period. Subject to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive&#146;s personal representative as soon as practicable (but no later than 74 days) following the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum in cash to Executive&#146;s personal representative as soon as practicable (but no later than 74 days) following
Executive&#146;s death in an amount equal to the product of (i) 18 multiplied by (ii)&nbsp;the sum of (A)&nbsp;the monthly premium for DDR provided health, dental and vision insurance benefits at the levels specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;4.2</U></B> in effect for Executive as of Executive&#146;s death, plus (B)&nbsp;the employer portion of the monthly premium for other DDR provided insurance (e.g. life, disability, etc.) in effect for
Executive as of Executive&#146;s death. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.4 <U>Upon Termination by Reason of Disability</U>. If Executive&#146;s employment under this
Agreement is terminated by DDR pursuant to<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B> during the Contract Period following Executive&#146;s disability, DDR will pay and provide to Executive and Executive&#146;s eligible dependents,
as appropriate, the amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, except that DDR will not be obligated to pay the lump sum amounts specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B> <B><U>(c)</U></B> and <B><U>(d)</U></B>&nbsp;unless either (x)&nbsp;DDR is deemed to have waived its right to present and require a Release as provided in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B> or (y)&nbsp;Executive (or in the event of Executive&#146;s legal incapacity, Executive&#146;s personal representative) has timely executed a Release as contemplated by
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>. The amounts and benefits specified in this<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B> are as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to Executive&#146;s Base Salary and any accrued but unused paid time off for the year through the Termination Date,
to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive within 30 days of the Termination Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year
immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive on the same date and in the same amount that the Annual Bonus for such year would have been paid if
Executive&#146;s employment had not been terminated, but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount equal in value to Executive&#146;s Annual Bonus that would have been earned for the calendar year in which the
Termination Date occurs at the &#147;Target&#148; level, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that Executive is employed by DDR during the applicable performance period. Subject to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum in cash in an amount equal to the product of (i) 18 multiplied by (ii)&nbsp;the sum of (A)&nbsp;the monthly COBRA premium for
health, dental and vision insurance benefits but only if Executive timely elects continuation coverage under DDR&#146;s health, dental and vision plans pursuant to COBRA, plus (B)&nbsp;the employer portion of the monthly premium for other DDR
provided insurance (e.g., life, disability, etc.) in effect for Executive as of the Termination Date. Such payments shall be taxable to Executive. DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the
Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.5 <U>Upon Termination In Connection With a Change in Control</U>. Upon the occurrence of a Triggering Event during the
Contract Period while Executive is employed by DDR, DDR will pay and provide to Executive the amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B>, and DDR will be deemed to have waived its right to
provide a Release as provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B>, and the provision of a Release will not be a condition to Executive receiving any payment or benefit from DDR under this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B>. The amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B> are as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to Executive&#146;s Base Salary and any accrued but unused paid time off for the year through the Termination Date,
to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive within 30 days of the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year immediately preceding the calendar year in which the
Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive on the same date and in the same amount that the Annual Bonus for such year would have been paid if Executive&#146;s employment had not been terminated,
but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount equal in
value to Executive&#146;s Annual Bonus that would have been earned for the calendar year in which the Termination Date occurs at the &#147;Target&#148; level, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that
Executive is employed by DDR during the applicable performance period. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the
Termination Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum amount equal to 2.5 times the sum of (i)&nbsp;Executive&#146;s annual Base Salary
as of the Termination Date, plus (ii)&nbsp;an amount equal to the Average Annual Bonus. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days)
following the Termination Date. Notwithstanding the foregoing, in the event that the Termination Date occurs prior to the determination of Annual Bonus payouts with respect to the 2017 calendar year, the Average Annual Bonus will be deemed to be
Executive&#146;s &#147;Target&#148; Annual Bonus as in effect on the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(e) A lump sum in cash in an amount equal to the
product of (i) 18 multiplied by (ii)&nbsp;the sum of (A)&nbsp;the monthly COBRA premium for health, dental and vision benefits but only if Executive timely elects continuation coverage under DDR&#146;s health, dental and vision plans pursuant to
COBRA, plus (B)&nbsp;the employer portion of the monthly premium for other DDR provided insurance (e.g., life, disability, etc.) in effect for Executive as of the Termination Date. Such payments shall be taxable to Executive. Subject to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8. <U>Release</U>. This <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> will apply only upon termination of Executive&#146;s employment during the
Contract Period (a)&nbsp;by DDR without Cause, (b)&nbsp;by Executive for Good Reason, (c)&nbsp;by reason of Executive&#146;s death or (d)&nbsp;by DDR pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B> following Executive&#146;s
disability. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.1 <U>Presentation of Release by DDR</U>. If this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> applies, DDR may
present to Executive (or in the case of Executive&#146;s death or legal incapacity, to Executive&#146;s personal representative), not later than 21 days after the Termination Date, a form of release (a &#147;<B><I>Release</I></B>&#148;) of all
current and future claims, known or unknown, arising on or before the date on which the Release is to be executed, that Executive or Executive&#146;s assigns have or may have against DDR or any Subsidiary, and the directors, officers, and affiliates
of any of them, substantially in the form attached hereto as <U>Exhibit B</U>, but subject to such modifications as may be reasonably determined necessary or appropriate by the Committee to reflect changes in applicable law or reasonable changes in
best practices between the Effective Date and the execution of such Release, together with a covering message in which DDR advises Executive (or Executive&#146;s personal representative) that the Release is being presented in accordance with this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.1</U></B> and that a failure by Executive (or Executive&#146;s personal representative) to execute and return the Release as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>
would relieve DDR of the obligation to make payments otherwise due to Executive (or to Executive&#146;s personal representative) under one or more portions of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>,
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the case may be. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.2 <U>Effect of Failure by DDR to Present Release</U>. If DDR fails to present a Release and covering message to Executive (or
Executive&#146;s personal representative) as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.1</U></B>, DDR will be deemed to have waived the requirement that Executive (or Executive&#146;s personal representative) execute a Release
as a condition to receiving payments under any portion of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>, <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the
case may be. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.3 <U>Execution of Release by Executive or Executive</U><U>&#146;</U><U>s Personal Representative</U>. If DDR does present a
Release and covering message to Executive (or Executive&#146;s personal representative) as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.1</U></B>, Executive (or Executive&#146;s personal representative) will have until 60 days
after the Termination Date (i.e., at least 39 days after presentation of the Release to </P>
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Executive (or Executive&#146;s personal representative)) within which to deliver an executed copy of the Release to DDR and thereby satisfy the condition to receiving payments under any portion
of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>, <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the case may be, provided that Executive (or Executive&#146;s
personal representative) does not revoke the execution of the Release during any applicable revocation period. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.4 <U>Effect of Failure to
Execute Release or of Revocation of Release</U>. If Executive (or Executive&#146;s personal representative) fails to deliver an executed copy of the Release to DDR within 60 days after the Termination Date or revokes the execution of the Release
during any applicable revocation period, Executive (or Executive&#146;s personal representative) will be deemed to have waived the right to receive all payments under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>,
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the case may be, that were conditioned on the Release. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9. <U>Disability Definitions; Physical Examination</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">9.1 <U>Definitions</U>. For all purposes of this Agreement: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) Executive&#146;s &#147;Own Occupation&#148; means the regular occupation in which Executive is engaged under this Agreement at the time
Executive becomes disabled. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) &#147;Total Disability&#148; means that, because of sickness or injury, Executive is not able to perform
the material and substantial duties of Executive&#146;s Own Occupation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) &#147;Totally Disabled&#148; means that Executive suffers from
Total Disability (and Executive will be deemed to continue to be Totally Disabled so long as Executive is not able to work in Executive&#146;s Own Occupation even if Executive works in some other capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">9.2 <U>Physical Examination</U>. If either DDR or Executive, at any time or from time to time after receipt of notice of Executive&#146;s Total
Disability from the other, desires to contend that Executive is not Totally Disabled, Executive will promptly submit to a physical examination by the chief of medicine of any major accredited hospital in the New York, New York or Cleveland, Ohio
areas (at DDR&#146;s reasonable cost) and, unless that physician issues his or her written statement to the effect that, in his or her opinion, based on his or her diagnosis, Executive is capable of resuming Executive&#146;s Own Occupation and
discharging the duties of Executive&#146;s Own Occupation in accordance with the terms of this Agreement, Executive will be deemed to be and to continue to be Totally Disabled for all purposes of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.<I> </I><U>No Set</U><U><FONT STYLE="white-space:nowrap">-Off;</FONT> No Obligation to Seek Other Employment or to Otherwise Mitigate Damages; No Effect
Upon Other Plans</U><I>. </I>DDR&#146;s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations under this Agreement will not be affected by any <FONT STYLE="white-space:nowrap">set-off,</FONT>
counterclaim, recoupment, defense, or other claim whatsoever that DDR or any Subsidiary or affiliate may have against Executive, except that the prohibition on <FONT STYLE="white-space:nowrap">set-off,</FONT> counterclaim, recoupment, defense, or
other claim contained in this sentence will not apply if Executive&#146;s employment is terminated by DDR for Cause. Executive will not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other
employment or otherwise. The amount of any payment provided for under this Agreement will not be reduced by any compensation or benefits earned by Executive as the result of employment by another employer or otherwise after the Termination Date.
Neither the provisions of this Agreement nor the making of any payment provided for under this Agreement, nor the termination of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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DDR&#146;s obligations under this Agreement, will reduce any amounts otherwise payable, or in any way diminish Executive&#146;s rights, under any incentive compensation plan, stock option or
stock appreciation rights plan, restricted stock plan or agreement, deferred compensation, retirement, or supplemental retirement plan, stock purchase and savings plan, disability or insurance plan, or other similar contract, plan, or arrangement of
DDR or any Subsidiary, all of which will be governed by their respective terms. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">11.<I> </I><U>Payments Are in Lieu of Severance
Payments</U><I>.</I>&nbsp;If Executive becomes entitled to receive payments under this Agreement as a result of termination of Executive&#146;s employment, those payments will be in lieu of any and all other claims or rights that Executive may have
against DDR for severance, separation, and/or salary continuation pay upon that termination of Executive&#146;s employment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12. <U>Covenants and
Confidential Information</U>. Executive acknowledges DDR&#146;s reliance on and expectation of Executive&#146;s continued commitment to performance of Executive&#146;s duties and responsibilities during the Contract Period while Executive is
employed by DDR and Executive assumes the obligations set out in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> in light of that reliance and expectation on the part of DDR. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.1 <U>Noncompetition</U>. During the Contract Period while Executive is employed by DDR, and for a period of 12 months thereafter, Executive
will not, directly or indirectly, own, manage, control, or participate in the ownership, management, or control of, or be employed or engaged by or otherwise affiliated or associated as a consultant, independent contractor, or otherwise with, any
entity that has been designated as being part of DDR&#146;s peer group, as determined by the Committee and set forth in the most recent proxy statement filed by DDR; <U>provided</U>, <U>however</U>, that the ownership by Executive of not more than
three percent of any class of publicly traded securities of any entity will not be deemed a violation of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.1</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.2 <U>Confidentiality</U>. Throughout and after the Contract Period, Executive will not disclose, divulge, discuss, copy, or otherwise use or
suffer to be used in any manner, in competition with, or contrary to the interests of, DDR, any confidential information relating to&nbsp;DDR&#146;s operations, properties, or otherwise to its particular business or other trade secrets of DDR, it
being acknowledged by Executive that all such information regarding the business of&nbsp;DDR compiled or obtained by, or furnished to, Executive during Executive&#146;s employment by or association with DDR is confidential information and DDR&#146;s
exclusive property. The restrictions in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.2</U></B> will not apply to any information to the extent that it (a)&nbsp;is clearly obtainable in the public domain, (b)&nbsp;becomes obtainable in the
public domain, except by reason of the breach by Executive of Executive&#146;s obligations under this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.2</U></B>, (c) was not acquired by Executive in connection with Executive&#146;s employment or
affiliation with DDR, (d)&nbsp;was not acquired by Executive from DDR or its representatives, or (e)&nbsp;is required to be disclosed by rule of law or by order of a court or governmental body or agency. However, nothing herein is intended to
interfere with or discourage the disclosure of a suspected violation of the law to any governmental entity, or to discourage Executive from participating in an investigation by a governmental entity regarding a suspected violation of the law. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.3 <U><FONT STYLE="white-space:nowrap">Non-Disparagement</FONT></U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) Throughout and after the Contract Period, outside the ordinary course of business on behalf of the Company, Executive will not make or
issue, or procure any person, firm, or entity to make or issue, any statement in any form, including written, oral and electronic communications of any kind, which conveys negative or adverse information concerning DDR or its Subsidiaries or
affiliates, or any of their legal predecessors, successors, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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assigns, parents, subsidiaries, divisions or other affiliates, or any of the foregoing&#146;s respective past, present or future directors, officers, employees or representatives (collectively,
the &#147;<B><I><FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Parties</I></B>&#148;), or any <FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Party&#146;s business, or its actions, to any person or entity, regardless of the
truth or falsity of such statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) Throughout and after the Contract Period, DDR will reasonably direct the executive officers and
directors of DDR not to make or issue, or procure any person, firm, or entity to make or issue, any statement in any form, including written, oral and electronic communications of any kind, which conveys negative or adverse information concerning
Executive or any of Executive&#146;s legal successors, assigns, or other affiliates, or any of the foregoing&#146;s respective past, present or future directors, officers, employees or representatives (collectively, the &#147;<B><I>Executive</I></B>
<B><I><FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Parties</I></B>&#148;), or any Executive <FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Party&#146;s business, or its actions, to any person or entity, regardless of the
truth or falsity of such statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) This <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.3</U></B> does not apply to truthful
testimony or disclosure compelled or required by applicable law or legal process. Notwithstanding anything in this Agreement to the contrary, Executive is not prohibited from providing information voluntarily to the Securities and Exchange
Commission pursuant to Section 21F of the Securities Exchange Act of 1934, as amended. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.4 <U>Nonsolicitation</U>. During the Contract
Period while Executive is employed by DDR, and for a period of 12 months thereafter, Executive will not directly or indirectly solicit or induce or attempt to solicit or induce any employee of DDR and/or of any Subsidiary or affiliate to terminate
his or her employment with DDR and/or any Subsidiary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.5 <U>Remedies</U>. Executive acknowledges that the remedy at law for any breach
by Executive of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> may be inadequate and that the damages following from any such breach may not be readily susceptible to being measured in monetary terms. Accordingly, Executive agrees
that, upon adequate proof of Executive&#146;s violation of any legally enforceable provision of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B>, DDR will be entitled to immediate injunctive relief and may obtain a temporary order
restraining any threatened or further breach. Nothing in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> will be deemed to limit DDR&#146;s remedies at law or in equity for any breach by Executive of any of the provisions of this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> that may be pursued or availed of by DDR. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.6 <U>Acknowledgement</U>. Executive
has carefully considered the nature and extent of the restrictions upon Executive and the rights and remedies conferred upon DDR under this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B>, and hereby acknowledges and agrees that the same
are reasonable in time and territory, are designed to eliminate competition that otherwise would be unfair to DDR, do not stifle the inherent skill and experience of Executive, would not operate as a bar to Executive&#146;s sole means of support,
are fully required to protect the legitimate interests of DDR, and do not confer a benefit upon DDR disproportionate to the detriment to Executive. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">13. <U>Compliance with Section 409A</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.1 <U>Six Month Delay on Certain Payments, Benefits, and Reimbursements</U>. If Executive is a &#147;specified employee&#148; for purposes of
Section&nbsp;409A, as determined under DDR&#146;s policy for determining specified employees on the Termination Date, each payment, benefit, or reimbursement paid or provided under this Agreement that constitutes a &#147;deferral of
compensation&#148; within the meaning of Section 409A, that is to be paid or provided as a result of a &#147;separation from service&#148; within the meaning of Section 409A, and that would otherwise be paid or provided at any time (a
&#147;<B><I>Scheduled Time</I></B>&#148;) that is on or before the date (the &#147;<B><I>Six Month Date</I></B>&#148;) that is exactly six months after the Termination Date (other than payments, benefits, or reimbursements that are treated as
separation pay under Section <FONT STYLE="white-space:nowrap">1.409A-1(b)(9)(v)</FONT> of the Treasury Regulations) will not be paid or provided at the Scheduled Time but will be accumulated (together with interest at the applicable federal rate
under Section 7872(f)(2)(A) of the Internal Revenue Code in effect on the Termination Date) through the Six Month Date and paid or provided during the period of 30 consecutive days beginning on the first business day after the Six Month Date (that
period of 30 consecutive days, the &#147;<B><I>Seventh Month after the Termination Date</I></B>&#148;), except that if Executive dies before the Six Month Date, the payments, benefits, or reimbursements will be accumulated only through the date of
Executive&#146;s death and thereafter paid or provided not later than 30 days after the date of death. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.2 <U>Additional Limitations on
Reimbursements and <FONT STYLE="white-space:nowrap">In-Kind</FONT> Benefits</U>. The reimbursement of expenses or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits provided under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> or
under any other section of this Agreement that are taxable benefits (and that are not disability pay or death benefit plans within the meaning of Section 409A) are intended to comply, to the maximum extent possible, with the exception to Section
409A set forth in Section <FONT STYLE="white-space:nowrap">1.409A-1(b)(9)(v)</FONT> of the Treasury Regulations. To the extent that any reimbursement of expenses or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits provided under
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> or under any other section of this Agreement do not qualify for that exception and are otherwise deferred compensation subject to Section 409A , then they will be subject to the following
additional rules: (i)&nbsp;any reimbursement of eligible expenses will be paid within 30 days following Executive&#146;s written request for reimbursement; <U>provided</U>, <U>however</U>, that Executive provides written notice no later than 60 days
before the last day of the calendar year following the calendar year in which the expense was incurred so that DDR can make the reimbursement within the time periods required by Section 409A; (ii)&nbsp;the amount of expenses eligible for
reimbursement, or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits provided, during any calendar year will not affect the amount of expenses eligible for reimbursement, or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits to be
provided, during any other calendar year; and (iii)&nbsp;the right to reimbursement or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits will not be subject to liquidation or exchange for any other benefit. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.3 <U>Compliance Generally</U>. Each payment or reimbursement and the provision of each benefit under this Agreement shall be considered a
separate payment and not one of a series of payments for purposes of Section 409A. DDR and Executive intend that the payments and benefits provided under this Agreement will either be exempt from the application of, or comply with, the requirements
of Section 409A. This Agreement is to be construed, administered, and governed in a manner that effects that intent and DDR will not take any action that is inconsistent with that intent. Without limiting the foregoing, the payments and benefits
provided under this Agreement may not be deferred, accelerated, extended, paid out, or modified in a manner that would result in the imposition of an additional tax under Section 409A upon Executive. Notwithstanding any provision of
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> to the contrary, if the period commencing on the Termination Date begins in one taxable year of Executive and the 74th day following the Termination Date is in a subsequent taxable year, any
amounts payable under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> which are considered deferred compensation under Section 409A shall be paid in such subsequent taxable year. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.4 <U>Termination of Employment to Constitute a Separation from Service</U>. The parties intend
that the phrase &#147;termination of employment&#148; and words and phrases of similar import mean a &#147;separation from service&#148; with DDR within the meaning of Section 409A. Executive and DDR will take all steps necessary (including taking
into account this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.4</U></B> when considering any further agreement regarding provision of services by Executive to DDR after the Termination Date) to ensure that (a)&nbsp;any termination of
employment under this Agreement constitutes a &#147;separation from service&#148; within the meaning of Section 409A, and (b)&nbsp;the Termination Date is the date on which Executive experiences a &#147;separation from service&#148; within the
meaning of Section 409A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.<I> </I><U>Indemnification</U><I>.</I>&nbsp;DDR will indemnify Executive, to the full extent permitted or authorized by the
Ohio General Corporation Law as it may from time to time be amended, if Executive is made or threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or
investigative, by reason of the fact that Executive is or was a director, officer, or employee of DDR and/or of any Subsidiary, or is or was serving at the request of DDR and/or of any Subsidiary as a director, trustee, officer, or employee of a
corporation, partnership, joint venture, trust, or other enterprise. The indemnification provided by this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;14</U></B> will not be deemed exclusive of any other rights to which Executive may be entitled
under the articles of incorporation or the regulations of DDR and/or of any Subsidiary, or any agreement, vote of shareholders or disinterested directors, or otherwise, both as to action in Executive&#146;s official capacity and as to action in
another capacity while holding such office, and will continue as to Executive after Executive has ceased to be a director, trustee, officer, or employee and will inure to the benefit of Executive&#146;s heirs, executors, and administrators. In
particular, Executive will continue to be entitled to the full benefit of the indemnification agreement dated as of the Effective Date between Executive and DDR (the &#147;<B><I>Indemnification Agreement</I></B>&#148;) for so long as that
Indemnification Agreement remains in effect according to its terms. In the event of any conflict or inconsistency between the provisions of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;14</U></B> and the provisions of the Indemnification
Agreement, the provisions of the Indemnification Agreement shall control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">15.<I> </I><U>Adjustment of Certain Payments and Benefits</U>. Notwithstanding
any provision of this Agreement to the contrary, if any payment or benefit to be paid or provided hereunder or under any other plan or agreement would be an &#147;Excess Parachute Payment,&#148; within the meaning of Section 280G of the Internal
Revenue Code, or any successor provision thereto, but for the application of this sentence, then the payments and benefits to be paid or provided hereunder shall be reduced to the minimum extent necessary (but in no event to less than zero) so that
no portion of any such payment or benefit, as so reduced, constitutes an Excess Parachute Payment; <U>provided</U>, <U>however</U>, that the foregoing reduction shall be made only if and to the extent that such reduction would result in an increase
in the aggregate payments and benefits to be provided, determined on an <FONT STYLE="white-space:nowrap">after-tax</FONT> basis (taking into account the excise tax imposed pursuant to Section&nbsp;4999 of the Internal Revenue Code, or any successor
provision thereto, any tax imposed by any comparable provision of state law, and any applicable federal, state and local income taxes). The determination of whether any reduction in such payments or benefits to be provided hereunder is required
pursuant to the preceding sentence shall be made at the expense of the Company, if requested by Executive or the Company, by the Company&#146;s independent accountants or a nationally recognized law firm chosen by the Company. The fact that
Executive&#146;s right to payments or benefits may be reduced by reason of the limitations contained in this Section shall not of itself limit or otherwise affect any other rights of Executive under this Agreement. In the event that any payment or
benefit intended to be provided hereunder is required to be reduced pursuant to this Section, then the reduction shall occur in the following order: (a)&nbsp;reduction of the lump sum amount set forth in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5(d)</U></B>; (b)&nbsp;reduction of the lump sum amount set forth in <B><U>Section 7.5(c)</U></B>; and (c)&nbsp;reduction, on a <FONT STYLE="white-space:nowrap">pro-rata</FONT> basis, of any other
&#147;Excess Parachute Payments&#148; payable under any plan or arrangement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">16. <U>Certain Expenses</U>. This <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;16</U></B> will apply only to
expenses that (a)&nbsp;are otherwise described in one or more of its subsections and (b)&nbsp;are incurred at any time from the Effective Date through the fifth anniversary of Executive&#146;s death. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">16.1 <U>Reimbursement of Certain Expenses</U>. DDR will pay, as incurred, all expenses, including the reasonable fees of counsel engaged by
Executive, of Executive in (a)&nbsp;prosecuting any action to compel DDR to comply with the terms of this Agreement upon receipt from Executive of an undertaking to repay DDR for such expenses if it is ultimately determined by a court of competent
jurisdiction that Executive had no reasonable grounds for bringing such action or (b)&nbsp;defending any action brought by a party other than Executive or Executive&#146;s personal representative to have this Agreement declared invalid or
unenforceable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">16.2 <U>Advancement of Certain Expenses</U>. Expenses (including the reasonable fees of counsel engaged by Executive)
incurred by Executive in defending any action, suit, or proceeding commenced or threatened against Executive for any action or failure to act as an employee, officer or director of DDR and/or of any Subsidiary will be paid by DDR, as they are
incurred, in advance of final disposition of the action, suit, or proceeding upon receipt of an undertaking by or on behalf of Executive in which Executive agrees to reasonably cooperate with DDR and/or the Subsidiary, as the case may be, concerning
the action, suit, or proceeding, and (a)&nbsp;if the action, suit, or proceeding is commenced or threatened against Executive for any action or failure to act as a director, to repay the amount if it is proved by clear and convincing evidence in a
court of competent jurisdiction that his action or failure to act involved an act or omission undertaken with deliberate intent to cause injury to DDR or a Subsidiary or with reckless disregard for the best interests of DDR or a Subsidiary, or
(b)&nbsp;if the action, suit, or proceeding is commenced or threatened against Executive for any action or failure to act as an officer or employee, to repay the amount if it is ultimately determined that Executive is not entitled to be indemnified.
The obligation of DDR to advance expenses provided for in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;16.2</U></B> will not be deemed exclusive of any other rights to which Executive may be entitled under the articles of incorporation or the
regulations of DDR or of any Subsidiary, or any agreement, vote of shareholders or disinterested directors, or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">17.<I> </I><U>Survival of
Obligations</U><I>.</I>&nbsp;Except as is otherwise expressly provided in this Agreement, the respective obligations of DDR and Executive under this Agreement will survive any termination of Executive&#146;s employment under this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">18. <U>Notices</U><I>.</I>&nbsp;Notices and all other communications provided for in this Agreement must be in writing and will be deemed to have been duly
given upon receipt (or rejection) when delivered in person or by overnight delivery (to the chief legal officer of DDR in the case of notices to DDR and to Executive in the case of notices to Executive) or mailed by United States registered mail,
return receipt requested, postage prepaid, and addressed, if to DDR, to its principal place of business, attention: Chief Legal Officer, and, if to Executive, to Executive&#146;s home address last shown on the records of DDR, or to such other
address or addresses as either party may furnish to the other in accordance with this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;18</U></B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">19.
<U>Entire Agreement</U>. Except as otherwise set forth below in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;19</U></B>, this Agreement and the agreements specifically referenced herein supersede in their entirety all prior agreements between
the parties, if any, and all understandings between them, if any, with respect to the subject matter of this Agreement. As provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;14</U></B>, Executive will continue to be entitled to the full
benefit of the Indemnification Agreement for so long as it remains in effect according to its terms. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">20. <U>Mandatory Arbitration Before a Change in Control</U>.
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.1</U></B> will apply if and only if either party notifies the other, in writing, that it is demanding resolution of a then-current controversy or claim by arbitration and the notice is provided by
the notifying party to the other party before any Change in Control has occurred. Nothing in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20</U></B> will limit the right of DDR to seek and obtain injunctive relief in a court of equity for any
breach or threatened breach by Executive of any of Executive&#146;s covenants contained in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> above. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">20.1 <U>Scope of Arbitration</U>. If this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.1</U></B> applies, any controversy or claim arising
out of or relating to this Agreement or any breach of this Agreement will be settled by binding arbitration to be held before three arbitrators and conducted in accordance with the Employment Arbitration Rules and Mediation Procedures of the
American Arbitration Association in the City of Cleveland, Ohio or New York, New York. The decision of the arbitrators will be final and binding on both parties and judgment on any award rendered by the arbitrators may be entered in any court of
competent jurisdiction. Costs and expenses of any such arbitration will be borne by the parties as may be directed by the arbitrators taking into account the extent to which the positions taken by each of the parties are reasonable. The arbitrators
will have the power to issue mandatory orders and restraining orders in connection with any such arbitration. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">20.2 <U>Other Disputes</U>.
If <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.1</U></B> does not apply to any claim or controversy between the parties, the parties may nevertheless, but need not, mutually agree to submit any controversy or claim to arbitration as though
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.1</U></B> did apply. Failing any such mutual agreement, either party may bring proceedings against the other with respect to any claim or controversy in any court of competent jurisdiction that
satisfies the venue requirements set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;21.8</U></B>. Nothing in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.2</U></B> imposes upon either party any obligation to discuss possible
arbitration of any claim or controversy to which <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.1</U></B> does not apply before bringing any court proceedings with respect to that claim or controversy. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">21. <U>Miscellaneous</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.1 <U>No
Conflict</U>. Executive represents and warrants that Executive is not a party to any agreement, contract, or understanding, whether employment or otherwise, that would restrict or prohibit Executive from undertaking or performing employment in
accordance with the terms and conditions of this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.2 <U>Assistance</U>. During the term of this Agreement and thereafter,
Executive will provide reasonable assistance to DDR in litigation and regulatory matters that relate to events that occurred during Executive&#146;s period of employment with DDR and its predecessors, and will provide reasonable assistance to DDR
with matters relating to its corporate history from the period of Executive&#146;s employment with it or its predecessors. Executive will be entitled to reimbursement of reasonable
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> travel or related costs and expenses relating to any such cooperation or assistance that occurs following the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.3 <U>Severability</U>. The provisions of this Agreement are severable and if any one or more provision is determined to be illegal or
otherwise unenforceable, in whole or in part, the remaining provisions and any partially unenforceable provision to the extent enforceable in any jurisdiction nevertheless will be binding and enforceable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.4 <U>Benefit of Agreement</U>. The rights and obligations of DDR under this Agreement will
inure to the benefit of, and will be binding on, DDR and its successors and assigns, and the rights and obligations (other than obligations to perform services) of Executive under this Agreement will inure to the benefit of, and will be binding
upon, Executive and Executive&#146;s heirs, personal representatives, and assigns. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.5 <U>No Waiver</U>. The failure of either party to
enforce any provision or provisions of this Agreement will not in any way be construed as a waiver of any such provision or provisions as to any future violations thereof, nor prevent that party from later enforcing each and every other provision of
this Agreement. The rights granted the parties in this Agreement are cumulative and the waiver of any single remedy will not constitute a waiver of that party&#146;s right to assert all other legal remedies available to it under the circumstances.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.6 <U>Modification</U>. This Agreement may not be modified or terminated orally. No modification or termination will be valid unless in
writing and signed by the party against which the modification or termination is sought to be enforced. Notwithstanding anything in this Agreement to the contrary, however, Executive acknowledges and agrees that this Agreement and any compensation
described herein are subject to the terms and conditions of the Company&#146;s clawback policy (if any) as may be in effect from time to time specifically to implement Section 10D of the Securities Exchange Act of 1934, as amended, and any
applicable rules or regulations promulgated thereunder (including applicable rules and regulations of any national securities exchange on which the Shares may be traded) (the &#147;<B><I>Compensation Recovery Policy</I></B>&#148;), and that
applicable sections of this Agreement and any related documents shall be deemed superseded by and subject to the terms and conditions of the Compensation Recovery Policy from and after the effective date thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.7 <U>Merger or Transfer of Assets of DDR</U><I>.</I>&nbsp;During the Contract Period while Executive is employed by DDR, DDR will not
consolidate with or merge into any other corporation, or transfer all or substantially all of its assets to another corporation, unless such other corporation assumes this Agreement in a signed writing and delivers a copy thereof to Executive, which
signed writing may consist of the merger or sale agreement, or similar document. Upon any such assumption, the successor corporation will become obligated to perform the obligations of DDR under this Agreement, and the terms &#147;DDR&#148; and the
&#147;Company,&#148; as used in this Agreement, will be deemed to refer to that successor corporation, and the term &#147;the Board&#148; as used in this Agreement will be deemed to refer to the board of directors of that successor corporation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.8 <U>Governing Law and Venue</U>. The provisions of this Agreement will be governed by and construed in accordance with the laws of the
State of Ohio applicable to contracts made in and to be performed exclusively within that State, notwithstanding any conflict of law provision to the contrary. Subject to the mandatory arbitration provisions of
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20</U></B>, the parties consent to venue and personal jurisdiction over them in the courts of the State of Ohio and federal courts sitting in Cleveland, Ohio, for purposes of construing and enforcing
this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.9 <U>Termination of Status as Director or Officer</U>. Notwithstanding anything in this Agreement to the contrary,
unless otherwise agreed to by DDR and Executive prior to the Termination Date, Executive shall be deemed to have automatically resigned from all directorships and offices with DDR and its Subsidiaries, and their affiliates (including joint
ventures), as of the Termination Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">22. <U>Definitions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.1 <U>Cause</U>. The term &#147;Cause&#148; has the meaning set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.2</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.2 <U>Change in Control</U>. The term &#147;Change in Control&#148; means the occurrence, during the Contract Period while Executive is
employed by DDR, of any of the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) consummation of a consolidation or merger in which DDR is not the surviving corporation, the
sale of substantially all of the assets of DDR, or the liquidation or dissolution of DDR; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) any person or other entity (other than DDR
or a Subsidiary or any DDR employee benefit plan (including any trustee of any such plan acting in its capacity as trustee)) purchases any Shares (or securities convertible into Shares) pursuant to a tender or exchange offer without the prior
consent of the Board, or becomes the beneficial owner of securities of DDR representing 30% or more of the voting power of DDR&#146;s outstanding securities without the prior consent of the Board; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) during any <FONT STYLE="white-space:nowrap">two-year</FONT> period, individuals who at the beginning of such period constitute the entire
Board cease to constitute a majority of the Board; <U>provided</U>, that any person becoming a director of DDR during such <FONT STYLE="white-space:nowrap">two-year</FONT> period whose election, or nomination for election by DDR&#146;s shareholders,
was approved by a vote of at least <FONT STYLE="white-space:nowrap">two-thirds</FONT> of the directors who at the beginning of such period constituted the entire Board (either by a specific vote or by approval of DDR&#146;s proxy statement in which
such person is named as a nominee of DDR for director), but excluding for this purpose any person whose initial assumption of office as a director of DDR occurs as a result of either an actual or threatened election contest with respect to the
election or removal of directors of DDR or other actual or threatened solicitation of proxies or consents by or on behalf of an individual, corporation, partnership, group, associate or other entity or person other than the Board, shall be, for
purposes of this <B><U>Section 22.2(c)</U></B>, considered as though such person was a member of the Board at the beginning of such period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.3 <U>Committee</U>. The term &#147;Committee&#148; means the Executive Compensation Committee of the Board or any other committee or
subcommittee authorized by the Board to discharge the Board&#146;s responsibilities relating to the compensation of DDR&#146;s executives and directors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.4 <U>Good Reason</U>. The term &#147;Good Reason&#148; has the meaning set forth in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.3</U></B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.5 <U>Internal Revenue Code</U>. The term &#147;Internal Revenue Code&#148;
means the Internal Revenue Code of 1986, as amended. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.6 <U>Section</U>. References in this Agreement to one or more &#147;Sections&#148;
are to sections of this Agreement, except for references to certain Sections of the Internal Revenue Code. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.7
<U>Section</U><U></U><U>&nbsp;409A</U>. The term &#147;Section&nbsp;409A&#148; means Section&nbsp;409A of the Internal Revenue Code. References in this Agreement to Section 409A are intended to include any proposed, temporary, or final regulations,
or any other guidance, promulgated with respect to Section 409A by the U.S. Department of Treasury or the Internal Revenue Service. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.8 <U>Shares</U>. The term &#147;Shares&#148; means the Common Shares, par value $0.10 per
share, of DDR. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.9 <U>Subsidiary</U>. The term &#147;Subsidiary&#148; means any corporation, partnership, or other entity a majority of
the voting control of which is directly or indirectly owned or controlled by DDR. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.10 <U>Termination Date</U>. The term
&#147;Termination Date&#148; means the date on which Executive&#146;s employment with DDR and its Subsidiaries terminates. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.11
<U>Triggering Event</U>. A &#147;Triggering Event&#148; for the purpose of this Agreement will be deemed to have occurred if, during the Contract Period while Executive is employed by DDR: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) Within two years after the date on which a Change in Control occurs, DDR terminates the employment of Executive, other than in the case of
a termination for Cause, a termination by DDR pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B> following Executive&#146;s disability, or a termination based on death; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) Within two years after the date on which a Change in Control occurs, Executive terminates his employment with DDR for Good Reason. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] </B></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, DDR and Executive have executed this Agreement, DDR by its duly authorized
officer, as of the date first written above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DDR CORP.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David E. Weiss</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: David E. Weiss</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title: Executive Vice President,</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Counsel and Secretary</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Michael A. Makinen</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>MICHAEL A. MAKINEN</B></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT A </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ANNUAL BONUS OPPORTUNITY </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AS A PERCENTAGE OF <FONT STYLE="white-space:nowrap">YEAR-END</FONT> BASE SALARY </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="29%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Threshold</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Target</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Maximum</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">50%</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">150%</TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PERFORMANCE SHARE AND PRSU AWARD OPPORTUNITIES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AS A PERCENTAGE OF &#147;TARGET&#148; </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="29%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Threshold</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Target</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Maximum</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">50%</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">200%</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT B </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Form of Release </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In consideration of
certain benefits provided to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (&#147;<B><I>Executive</I></B>&#148;) and to be received by Executive from DDR Corp. (the
&#147;<B><I>Compan</I></B>y&#148;) as described in the Employment Agreement between the Company and Executive dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (the &#147;<B><I>Agreement</I></B>&#148;): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Claims Released</U></B>. Executive, for himself and on behalf of anyone claiming through Executive including each and all of Executive&#146;s legal representatives, administrators, executors, heirs, successors and
assigns (collectively, the &#147;<B><I>Executive Releasors</I></B>&#148;), does hereby fully, finally and forever release, absolve and discharge the Company and each and all of its legal predecessors, successors, assigns, fiduciaries, parents,
subsidiaries, divisions and other affiliates, and each of the foregoing&#146;s respective past, present and future principals, partners, shareholders, directors, officers, employees, agents, consultants, attorneys, trustees, administrators,
executors and representatives (collectively, the &#147;<B><I>Company Released Parties</I></B>&#148;), of, from and for any and all claims, causes of action, lawsuits, controversies, liabilities, losses, damages, costs, expenses and demands of any
nature whatsoever, at law or in equity, whether known or unknown, asserted or unasserted, foreseen or unforeseen, that the Executive Releasors (or any of them) now have, have ever had, or may have against the Company Released Parties (or any of
them) based upon, arising out of, concerning, relating to or resulting from any act, omission, matter, fact, occurrence, transaction, claim, contention, statement or event occurring or existing at any time in the past up to and including the date on
which Executive signs this Release, including, without limitation, (a)&nbsp;all claims arising out of or in any way relating to Executive&#146;s employment with or separation of employment from the Company or its affiliates; (b)&nbsp;all claims for
compensation or benefits, including salary, commissions, bonuses, vacation pay, expense reimbursements, severance pay, fringe benefits, stock options, restricted stock units or any other ownership interests in the Company Released Parties;
(c)&nbsp;all claims for breach of contract, wrongful termination and breach of the implied covenant of good faith and fair dealing; (d)&nbsp;all tort claims, including claims for fraud, defamation, invasion of privacy and emotional distress;
(e)&nbsp;all other common law claims; and (f)&nbsp;all claims (including claims for discrimination, harassment, retaliation, attorneys fees, expenses or otherwise) that were or could have been asserted by Executive or on his behalf in any federal,
state, or local court, commission, or agency, or under any federal, state, local, employment, services or other law, regulation, ordinance, constitutional provision, executive order or other source of law, including without limitation under any of
the following laws, as amended from time to time: the Age Discrimination in Employment Act (the &#147;<B><I>ADEA</I></B>&#148;), as amended by the Older Workers&#146; Benefit Protection Act of 1990 (the &#147;<B><I>OWBPA</I></B>&#148;), Title VII of
the Civil Rights Act of 1964, 42 U.S.C. &#167;&#167; 1981 &amp; 1981a, the Americans with Disabilities Act, the Equal Pay Act, the Employee Retirement Income Security Act, the Lilly Ledbetter Fair Pay Act of 2009, the Family and Medical Leave Act,
Sarbanes-Oxley Act of 2002, the National Labor Relations Act, the Rehabilitation Act of 1973, the WARN Act, Federal Executive Order 11246, and the Genetic Information Nondiscrimination Act. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B><U>Scope of Release</U></B>. Nothing in this Release (a)&nbsp;shall release the Company from any of its
obligations set forth in the Agreement or any claim that by law is <FONT STYLE="white-space:nowrap">non-waivable,</FONT> (b)&nbsp;shall release the Company from any obligation to defend and/or indemnify Executive against any third party claims
arising out of any action or inaction by Executive during the time of his employment and </P></TD></TR></TABLE>

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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
within the scope of his duties with the Company to the extent Executive has any such defense or indemnification right, and to the extent permitted by applicable law and to the extent the claims
are covered by the Company&#146;s director&nbsp;&amp; officer liability insurance or (c)&nbsp;shall affect Executive&#146;s right to file a claim for workers&#146; compensation or unemployment insurance benefits. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Executive further acknowledges that by signing this Release, Executive does not waive the right to file a charge against the Company with, communicate with or participate in any investigation by the EEOC, the Securities
and Exchange Commission or any comparable state or local agency. However, Executive waives and releases, to the fullest extent legally permissible, all entitlement to any form of monetary relief arising from a charge Executive or others may file,
including without limitation any costs, expenses or attorneys&#146; fees. Executive understands that this waiver and release of monetary relief would not affect an enforcement agency&#146;s ability to investigate a charge or to pursue relief on
behalf of others. Notwithstanding the foregoing, Executive will not give up his right to any benefits to which he is entitled under any retirement plan of the Company that is intended to be qualified under Section 401(a) of the Internal Revenue Code
of 1986, as amended, or his rights, if any, under Part 6 of Subtitle B of Title I of the Employee Retirement Income Security Act of 1974, as amended (COBRA), or any monetary award offered by the Securities and Exchange Commission pursuant to Section
21F of the Securities Exchange Act of 1934, as amended. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Knowing and Voluntary ADEA Waiver</U></B>. In compliance with the requirements of the OWBPA, Executive acknowledges by his signature below that, with respect to the rights and claims waived and released in this
Release under the ADEA, Executive specifically acknowledges and agrees as follows: (a)&nbsp;Executive has read and understands the terms of this Release; (b)&nbsp;Executive has been advised and hereby is advised, and has had the opportunity, to
consult with an attorney before signing this Release; (c)&nbsp;Executive is releasing the Company and the other Company Released Parties from, among other things, any claims that Executive may have against them pursuant to the ADEA; (d)&nbsp;the
releases contained in this Release do not cover rights or claims that may arise after Executive signs this Release; (e)&nbsp;Executive has been given a period of 21 days in which to consider and execute this Release (although Executive may elect not
to use the full <FONT STYLE="white-space:nowrap">21-day</FONT> period at Executive&#146;s option); (f) Executive may revoke this Release during the <FONT STYLE="white-space:nowrap">seven-day</FONT> period following the date on which Executive signs
this Release, and this Release will not become effective and enforceable until the <FONT STYLE="white-space:nowrap">seven-day</FONT> revocation period has expired; and (g)&nbsp;any such revocation must be submitted in writing to the Company c/o
David E. Weiss, Executive Vice President, General Counsel and Secretary, DDR Corp., 3300 Enterprise Parkway, Beachwood, Ohio 44122 prior to the expiration of such <FONT STYLE="white-space:nowrap">seven-day</FONT> revocation period. If Executive
revokes this Release within such <FONT STYLE="white-space:nowrap">seven-day</FONT> revocation period, it shall be null and void. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Reaffirmation of Restrictive Covenants</U></B>. Executive agrees to and reaffirms his obligations as outlined in Section&nbsp;12 of the Agreement (&#147;<B><I>Restrictive Covenants</I></B>&#148;), and acknowledges
that the Restrictive Covenants remain in full force and effect. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Entire Agreement</U></B>. This Release, the Agreement, and the documents referenced therein contain the entire agreement between Executive and the Company, and take priority over any other written or oral
understanding or agreement that may have existed in the past. Executive acknowledges that no other promises or agreements have been offered for this Release (other than those described above) and that no other promises or agreements will be binding
unless they are in writing and signed by Executive and the Company. </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I agree to the terms and conditions set forth in this Release. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>EXECUTIVE </B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>d367248dex103.htm
<DESCRIPTION>EX-10.3
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.3</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><U>EXHIBIT 10.3 </U></B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EMPLOYMENT AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Employment
Agreement (this &#147;<B><I>Agreement</I></B>&#148;), dated as of March&nbsp;2, 2017, is by and between DDR Corp., an Ohio corporation (&#147;<B><I>DDR</I></B>&#148; or the &#147;<B><I>Company</I></B>&#148;), and Matthew L. Ostrower
(&#147;<B><I>Executive</I></B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors of DDR (the &#147;<B><I>Board</I></B>&#148;), on behalf of the Company, and Executive
desire to enter into this Agreement to reflect the terms pursuant to which Executive will serve DDR (certain capitalized terms used in this Agreement have the meanings ascribed to them in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;22</U></B> of
this Agreement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">DDR and Executive agree, effective as of the date first set forth above (the &#147;<B><I>Effective Date</I></B>&#148;), as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U>Employment, Term</U>. DDR will engage and employ Executive to render services in the administration and operation of its affairs as its Chief Financial
Officer, reporting directly to DDR&#146;s Chief Executive Officer (the &#147;<B><I>CEO</I></B>&#148;) and performing such duties and having such responsibilities and authority as are customarily incident to the principal financial officers of
companies similar in size to, and in a similar business as, DDR, together with such other duties as, from time to time, may be specified by the CEO, in a manner consistent with Executive&#146;s status as Chief Financial Officer, all in accordance
with the terms and conditions of this Agreement, for a term extending from the Effective Date through March&nbsp;1, 2021. The period of time from the Effective Date through March&nbsp;1, 2021 is sometimes referred to herein as the
&#147;<B><I>Contract Period</I></B>.&#148; During the Contract Period while executive is employed by DDR, Executive shall report to the Board. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2.
<U>Full-Time Services</U>. Throughout the Contract Period while Executive is employed by DDR, Executive will devote substantially all of Executive&#146;s business time and efforts to the service of DDR, except for (a)&nbsp;usual vacation periods and
reasonable periods of illness, (b)&nbsp;reasonable periods of time devoted to Executive&#146;s personal financial affairs, and (c)&nbsp;services as a director or trustee of other corporations or organizations, either for profit or not for profit,
that are not in competition with DDR; <U>provided</U>, <U>however</U>, that in no event shall Executive devote less than 90% of Executive&#146;s business time and efforts to the service of DDR. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <U>Compensation</U><I>.</I>&nbsp;For all services to be rendered by Executive to DDR under this Agreement during the Contract Period while Executive is
employed by DDR, including services as Chief Financial Officer and any other services specified by the CEO, DDR will pay and provide to Executive the compensation and benefits specified in this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.1 <U>Base Salary</U>. From and after the Effective Date and through the end of
the Contract Period while Executive is employed by DDR, DDR will pay Executive base salary (the &#147;<B><I>Base Salary</I></B>&#148;), in equal monthly or more frequent installments, at the rate of not less than Five Hundred Thousand Dollars
($500,000) per year, subject to such increases as the Committee or the Board of Directors of DDR (the &#147;<B><I>Board</I></B>&#148;) may approve. Any such increased Base Salary shall constitute &#147;Base Salary&#148; for purposes of this
Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.2 <U>Annual Bonus</U>. For each calendar year (beginning with 2017) during the Contract Period while Executive is employed by
DDR, subject to achievement of applicable performance criteria, the Company shall make an annual incentive payment to Executive, in cash, for such calendar year (an &#147;<B><I>Annual Bonus</I></B>&#148;) between January&nbsp;1 and March&nbsp;15 of
the immediately subsequent calendar year, determined and calculated in accordance with the percentages set forth on <U>Exhibit</U><U></U><U>&nbsp;A</U> attached hereto (and rounded to the nearest dollar); <U>provided</U>, <U>however</U>, that for
any </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
partial calendar year during the Contract Period, the Annual Bonus payout shall be <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days Executive is employed by the
Company during such calendar year. The Company&#146;s payment of an Annual Bonus to Executive shall be determined based on the factors and criteria that have been or may be reasonably established from time to time for the calculation of the Annual
Bonus by the Committee after consultation with Executive. For each calendar year in the Contract Period (beginning with 2017) while Executive is employed by DDR, the Board or the Committee will establish, in consultation with Executive, and
thereafter provide Executive with written notice of, the performance metrics and their relative weighting to be used in, and any specific threshold, target and maximum performance targets applicable to, the determination of the Annual Bonus for
Executive for such calendar year not later than March&nbsp;15 of such year. There is no guaranteed Annual Bonus under this Agreement, and for each applicable year, Executive&#146;s Annual Bonus could be as low as zero or as high as the maximum
percentage set forth on <U>Exhibit A</U> attached hereto. Notwithstanding anything in this Agreement to the contrary, each Annual Bonus shall be on the terms and subject to such conditions as are specified for the particular Company plans or
programs pursuant to which the Annual Bonus is granted. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.3 <U>Specific Equity Awards</U>. The awards described in this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3.3</U></B> will at all times be subject to the approval of the Committee and to the terms and conditions of the Company&#146;s 2012 Equity and Incentive Compensation Plan (or its successor(s)), as in
effect from time to time (collectively, the &#147;<B><I>Equity Plan</I></B>&#148;), including, without limitation, all authority and powers provided or reserved to such plan&#146;s administrator thereunder, as well as the award agreements for such
awards. As applicable, any awards vesting in installments shall be rounded up to the next nearest share amount divisible by the number of installments. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Initial Grants</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(i)
<U>Service-Based RSUs</U>. On or as soon as practicable after the Effective Date, Executive shall be entitled to receive a grant of service-based restricted share units (&#147;<B><I>RSUs</I></B>&#148;) (or substantially similar award) covering a
number of Shares equal to the quotient of (A) $800,000 divided by (B)&nbsp;the average closing price of a Share for the ten trading days immediately preceding the date of grant on the principal stock exchange on which it then trades (the
&#147;<B><I>Service-Based RSUs</I></B>&#148;). Such Service-Based RSUs will, in general, vest subject to Executive&#146;s continued employment with the Company in four substantially equal installments on each of the first four anniversaries of the
date of grant, subject to terms and conditions set forth in the applicable award agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Performance-Based Equity</U>. On or
as soon as practicable after the Effective Date, Executive shall be entitled to receive the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance shares (or substantially similar award) covering a &#147;target&#148; number of Shares equal to the quotient of (1) $100,000 divided by (2)&nbsp;the average closing price of a Share for the ten
trading days immediately preceding the date of grant on the principal stock exchange on which it then trades (the &#147;<B><I><FONT STYLE="white-space:nowrap">One-Year</FONT> Performance Shares</I></B>&#148;), subject to a performance period
beginning on March&nbsp;1, 2017 and ending on February&nbsp;28, 2018; </TD></TR></TABLE>
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<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance-based RSUs (or substantially similar award) covering a &#147;target&#148; number of Shares equal to the quotient of (1)&nbsp;$200,000 divided by (2)&nbsp;the average closing price of a Share for
the ten trading days immediately preceding the date of grant<B> </B>on the principal stock exchange on which it then trades (the &#147;<B><I><FONT STYLE="white-space:nowrap">Two-Year</FONT> PRSUs</I></B>&#148;), subject to a performance period
beginning on March&nbsp;1, 2017 and ending on February&nbsp;28, 2019; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(C)</TD>
<TD ALIGN="left" VALIGN="top">a grant of performance-based RSUs (or substantially similar award) covering a &#147;target&#148; number of Shares equal to the quotient of (1)&nbsp;$300,000 divided by (2)&nbsp;the average closing price of a Share for
the ten trading days immediately preceding the date of grant<B> </B>on the principal stock exchange on which it then trades (the &#147;<B><I>Three-Year PRSUs</I></B>&#148;), subject to a performance period beginning on March&nbsp;1, 2017 and ending
on February&nbsp;28, 2020. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">The <FONT STYLE="white-space:nowrap">One-Year</FONT> Performance Shares, the <FONT
STYLE="white-space:nowrap">Two-Year</FONT> PRSUs and the Three-Year PRSUs (the &#147;<B><I>Performance Awards</I></B>&#148;) will be subject to terms and conditions set forth in the applicable award agreement, and the payout of each of the
Performance Awards will vary in accordance with the percentages set forth on <U>Exhibit A</U> attached hereto based on Company relative total shareholder return performance achievement based upon a peer group established by the Committee, measured
over the applicable performance period, in each case, subject to reduction by 1/3 (rounded to the nearest Share) in the event that the Company&#146;s absolute total shareholder return during the applicable performance period is negative. Each of the
Performance Awards will be payable, if earned, after the expiration of the applicable performance period. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Annual Grants</U>. On
each of March&nbsp;2, 2018, March&nbsp;2, 2019 and March&nbsp;2, 2020, provided that Executive is continuously employed by DDR through such date, Executive shall be eligible to receive a grant of performance-based RSUs (or substantially similar
award) covering a &#147;target&#148; number of Shares equal to the quotient of (i) $600,000 divided by (ii)&nbsp;the average closing price of a Share for the ten trading days immediately preceding the date of grant on the principal stock exchange on
which it then trades, the payout of which grant will vary in accordance with the percentages set forth on <U>Exhibit</U><U></U><U>&nbsp;A</U> attached hereto based on Company relative total shareholder return performance achievement based upon a
peer group established by the Committee, measured over a three-year performance period beginning on March&nbsp;1, 2018, March&nbsp;1, 2019 or March&nbsp;1, 2020, respectively, in each case subject to reduction by 1/3 (rounded to the nearest RSU) in
the event that the Company&#146;s absolute total shareholder return during the performance period is negative. Such performance-based RSUs will be payable, if earned, after the expiration of the applicable performance period, and such
performance-based RSUs will be subject to terms and conditions set forth in the applicable award agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3.4 <U>Taxes</U>. Executive
shall be solely responsible for taxes imposed on Executive by reason of any compensation and benefits provided under this Agreement, and all such compensation and benefits shall be subject to applicable withholding taxes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <U>Benefits</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.1 <U>Retirement and Other Benefit Plans Generally</U>. Throughout the Contract Period while Executive is employed by DDR, Executive will be
entitled to participate in all retirement and other benefit plans maintained by DDR that are generally available to its senior executives and with respect to which Executive is eligible pursuant to the terms of the underlying plan or plans,
including, without limitation, the DDR 401(k) plan for its employees and any DDR deferred compensation program. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.2 <U>Insurance,
Generally</U>. Throughout the Contract Period while Executive is employed by DDR, DDR will provide an enrollment opportunity to Executive and Executive&#146;s eligible dependents for health, dental and vision insurance coverage, other insurance
(e.g., life, disability, etc.) and any other health and welfare benefits maintained by DDR from time to time, if any, during the Contract Period that are generally available to its senior executives and with respect to which Executive is eligible
pursuant to the terms of the underlying plan or plans. To the extent that DDR maintains officer insurance coverage, Executive shall be covered by such policy on terms no less favorable than provided to other officers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.3 <U>Paid Time Off</U>. Executive will be entitled to such periods of paid time off during the Contract Period while Executive is employed by
DDR as may be provided from time to time under any DDR paid time off policy for senior executive officers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4.4 <U>Executive Insurance
Policy</U>. During the Contract Period while Executive is employed by DDR, DDR shall promptly (and, in any event, within thirty (30)&nbsp;days following receipt from Executive of written evidence of Executive&#146;s having made expenditures
therefor) reimburse Executive (up to an aggregate maximum of $25,000 in any calendar year) for premiums paid by Executive for life, disability and/or similar insurance policies. Executive acknowledges that such reimbursement is being provided in
lieu of any accelerated or continued vesting of equity awards in connection with his termination of employment due to death or disability. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <U>Expense
Reimbursements</U>. DDR will reimburse Executive during the Contract Period while Executive is employed by DDR for travel, entertainment, and other expenses reasonably and necessarily incurred by Executive in connection with DDR&#146;s business.
Executive will provide such documentation with respect to expenses to be reimbursed as DDR may reasonably request. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. <U>Termination</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.1 <U>Death or Disability</U>. Executive&#146;s employment under this Agreement will terminate immediately upon Executive&#146;s death. DDR
shall terminate Executive&#146;s employment under this Agreement immediately upon giving notice of termination if Executive is Totally Disabled (as that term is defined in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;9.1</U></B> below) for an
aggregate of 120 days in any consecutive 12 calendar months or for 90&nbsp;consecutive days. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.2 <U>For Cause by DDR</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) During the Contract Period while Executive is employed by DDR, DDR may terminate Executive&#146;s employment under this Agreement for
&#147;<B><I>Cause</I></B>&#148; at any time upon the occurrence of any of the following circumstances:<SUP STYLE="font-size:85%; vertical-align:top"> </SUP> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(i) willful failure by Executive substantially to perform the lawful instructions of DDR or one
of its Subsidiaries (other than as a result of total or partial incapacity due to physical or mental illness) following written notice by DDR to Executive of such failure and 10 days within which to cure such failure; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(ii) Executive&#146;s theft or embezzlement of DDR property; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(iii) Executive&#146;s dishonesty in the performance of Executive&#146;s duties resulting in material harm to DDR; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(iv) any act by Executive that constitutes (A)&nbsp;a felony under the laws of the United States or any state thereof or, where applicable,
any other equivalent offense (including a crime subject to a custodial sentence) under the laws of the applicable jurisdiction, or (B)&nbsp;any other crime involving moral turpitude; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(v) willful or gross misconduct by Executive in connection with Executive&#146;s duties to DDR or otherwise which, in the reasonable good
faith judgment of the Board, could reasonably be expected to be materially injurious to the financial condition or business reputation of DDR, its Subsidiaries or affiliates; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(vi) breach of the provisions of any restrictive covenants with DDR, its Subsidiaries or affiliates. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) The termination of Executive&#146;s employment under this Agreement shall not be deemed to be for &#147;Cause&#148; pursuant to this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.2</U></B> unless and until there shall have been delivered to Executive a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the entire membership of the Board
at a meeting of the Board called and held for such purpose (after reasonable notice is provided to Executive and Executive is given an opportunity, together with counsel, to be heard before the Board) finding that, in the good faith opinion of the
Board, Executive has committed the conduct described in <B><U>Sections 6.2(a)(i)</U></B>, <B><U>(ii)</U></B>, <B><U>(iii)</U></B>, <B><U>(iv)</U></B>, <B><U>(v)</U></B> or <B><U>(vi)</U></B>&nbsp;above, and specifying the particulars thereof in
detail. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.3 <U>For Good Reason by Executive</U>. During the Contract Period while Executive is employed by DDR, Executive may terminate
Executive&#146;s employment under this Agreement for &#147;Good Reason&#148; if any of the following circumstances occur: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) DDR
materially reduces Executive&#146;s authority, duties or responsibilities from those set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;1</U></B> above; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) DDR materially reduces Executive&#146;s Base Salary, Annual Bonus opportunity, or annual equity grant opportunity from that set forth in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> above (but only to the extent that such reduction results in a substantial reduction in Executive&#146;s total compensation); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) Executive is required to report to anyone other than the CEO; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) DDR changes Executive&#146;s principal place of employment to a location that is more than 50 miles from the geographical center of New
York, NY, or changes DDR&#146;s principal executive offices to a location that is more than 50 miles from the geographical center of Cleveland, Ohio; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(e) DDR materially breaches any of its obligations under this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, no termination of employment by Executive shall constitute a termination for &#147;Good Reason&#148; unless
(i)&nbsp;Executive gives DDR notice of the existence of an event described in clause (a), (b), (c), (d) or (e)&nbsp;above, within sixty (60)&nbsp;days following the occurrence thereof and (ii)&nbsp;DDR does not remedy such event described in clause
(a), (b), (c), (d) or (e)&nbsp;above, as applicable, within thirty (30)&nbsp;days of receiving the notice described in the preceding clause (i), and (iii)&nbsp;in all cases, Executive terminates employment pursuant to this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.3</U></B> within one year from the date the event described in clause (a), (b), (c), (d) or (e)&nbsp;above initially occurred. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.4 <U>Without Cause by DDR</U>. During the Contract Period while Executive is employed by DDR, DDR may terminate Executive&#146;s employment
under this Agreement at any time without Cause pursuant to written notice provided to Executive not less than 90 days in advance of such termination upon the affirmative vote of a majority of all of the members of the Board. Any termination under
this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.4</U></B> will be effective at such time during the Contract Period while Executive is employed by DDR as may be specified in that written notice, subject to the preceding sentence. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6.5 <U>Without Good Reason by Executive</U>. During the Contract Period while Executive is employed by DDR, Executive may terminate
Executive&#146;s employment under this Agreement at any time without Good Reason pursuant to written notice provided to DDR not less than 90 days in advance of such termination. Any termination under this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.5</U></B> will be effective at such time during the Contract Period while Executive is employed by DDR as Executive may specify in that written notice, subject to the preceding sentence. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <U>Payments upon Termination</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.1 <U>Upon
Termination For Cause or Without Good Reason</U>. If Executive&#146;s employment under this Agreement is terminated by DDR for Cause or by Executive without Good Reason during the Contract Period, DDR will pay and provide to Executive the
Executive&#146;s Base Salary and any accrued but unused paid time off through the Termination Date in accordance with DDR policy to the extent not already paid and continuing health, dental and vision insurance and other insurance (e.g. life,
disability, etc.) at the levels specified in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;4.2</U></B> through the Termination Date, and, except as may otherwise be required by law, DDR will not pay or provide to Executive any further compensation
or other benefits under this Agreement. DDR will pay any Base Salary referred to in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.1</U></B> to Executive within 30 days of the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.2 <U>Upon Termination Without Cause or For Good Reason</U>. If Executive&#146;s employment under this Agreement is terminated by DDR other
than due to Cause, death or disability (pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B>), or by Executive for Good Reason, during the Contract Period, and <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B> does not
apply, DDR will pay and provide to Executive the amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>, except that DDR will not be obligated to pay the lump sum amounts specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B> <B><U>(c)</U></B>, <B><U>(d)</U></B> and <B><U>(e)</U></B>&nbsp;unless either (x)&nbsp;DDR is deemed to have waived its right to present and require a Release as provided in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B> or (y)&nbsp;Executive has timely executed a Release as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>. The amounts and benefits specified in this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B> are as follows: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to Executive&#146;s Base Salary and any accrued but unused paid time
off for the year through the Termination Date, to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive within 30 days of the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year immediately preceding the calendar year in which the
Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive on the same date and in the same amount that the Annual Bonus for such year would have been paid if Executive&#146;s employment had not been terminated,
but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount equal in
value to Executive&#146;s Annual Bonus that would have been earned for the calendar year in which the Termination Date occurs, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that Executive is employed by DDR during the
applicable performance period, and calculated on the basis of actual performance of the applicable performance objectives for the entire performance period. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this
amount to Executive on the same date that the Annual Bonus for such year would have been paid if Executive&#146;s employment had not been terminated, but in any event not later than March&nbsp;15 of the calendar year following the calendar year in
which the Termination Date occurs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum amount equal to the product of (i)&nbsp;the sum of (A)&nbsp;Executive&#146;s annual Base
Salary as of the Termination Date, plus (B)&nbsp;an amount equal to the average of the Annual Bonuses earned by Executive in the three fiscal years ending immediately prior to the fiscal year in which the Termination Date occurs (or, if Executive
has been eligible for fewer than three such Annual Bonuses, the number of fiscal years preceding the year in which the Termination Date occurs for which Executive was eligible for an Annual Bonus) (the &#147;<B><I>Average Annual Bonus</I></B>&#148;)
multiplied by (ii)&nbsp;the lesser of (A)&nbsp;1.5 and (B)&nbsp;1.5 multiplied by a fraction (not greater than 1), the numerator of which is the number of calendar months remaining in the Contract Period as of the Termination Date, and the
denominator of which is 18. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date. Notwithstanding the
foregoing, in the event that the Termination Date occurs prior to the determination of Annual Bonus payouts with respect to the 2017 calendar year, the Average Annual Bonus will be deemed to be Executive&#146;s &#147;Target&#148; Annual Bonus as in
effect on the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(e) A lump sum in cash in an amount equal to the product of (i) 18 multiplied by (ii)&nbsp;the sum of
(A)&nbsp;the monthly COBRA premium for health, dental and vision benefits but only if Executive timely elects continuation coverage under DDR&#146;s health, dental and vision plans pursuant to COBRA, plus (B)&nbsp;the employer portion of the monthly
premium for other DDR provided insurance (e.g., life, disability, etc.) in effect for Executive as of the Termination Date. Such payments shall be taxable to Executive. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will
pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.3 <U>Upon Termination by Reason of Death</U>. If Executive&#146;s employment under this
Agreement is terminated by reason of Executive&#146;s death during the Contract Period, DDR will pay, or cause to be paid, and provide, or cause to be provided, to Executive&#146;s personal representative and Executive&#146;s eligible dependents, as
appropriate, the amounts and benefits specified in this<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B>, except that DDR will not be obligated to pay the lump sum amounts specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> <B><U>(c)</U></B> and <B><U>(d)</U></B>&nbsp;unless either (x)&nbsp;DDR is deemed to have waived its right to present and require a Release as provided in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B> or (y)&nbsp;Executive&#146;s personal representative has timely executed a Release as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>. The amounts and benefits
specified in this<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> are as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to
Executive&#146;s Base Salary and any accrued but unused paid time off for the year through the Termination Date, to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive&#146;s personal representative
within 30 days of the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year
immediately preceding the calendar year in which the Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive&#146;s personal representative on the same date and in the same amount that the Annual Bonus for such
year would have been paid if Executive&#146;s employment had not been terminated, but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount equal in value to Executive&#146;s Annual Bonus that would have been earned for the calendar year in which the
Termination Date occurs at the &#147;Target&#148; level, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that Executive is employed by DDR during the applicable performance period. Subject to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive&#146;s personal representative as soon as practicable (but no later than 74 days) following the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum in cash to Executive&#146;s personal representative as soon as practicable (but no later than 74 days) following
Executive&#146;s death in an amount equal to the product of (i) 18 multiplied by (ii)&nbsp;the sum of (A)&nbsp;the monthly premium for DDR provided health, dental and vision insurance benefits at the levels specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;4.2</U></B> in effect for Executive as of Executive&#146;s death, plus (B)&nbsp;the employer portion of the monthly premium for other DDR provided insurance (e.g. life, disability, etc.) in effect for
Executive as of Executive&#146;s death. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.4 <U>Upon Termination by Reason of Disability</U>. If Executive&#146;s employment under this
Agreement is terminated by DDR pursuant to<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B> during the Contract Period following Executive&#146;s disability, DDR will pay and provide to Executive and Executive&#146;s eligible dependents,
as appropriate, the amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, except that DDR will not be obligated to pay the lump sum amounts specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B> <B><U>(c)</U></B> and <B><U>(d)</U></B>&nbsp;unless either (x)&nbsp;DDR is deemed to have waived its right to present and require a Release as provided in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B> or (y)&nbsp;Executive (or in the event of Executive&#146;s legal incapacity, Executive&#146;s personal representative) has timely executed a Release as contemplated by
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>. The amounts and benefits specified in this<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B> are as follows: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to Executive&#146;s Base Salary and any accrued but unused paid time
off for the year through the Termination Date, to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive within 30 days of the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year immediately preceding the calendar year in which the
Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive on the same date and in the same amount that the Annual Bonus for such year would have been paid if Executive&#146;s employment had not been terminated,
but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount equal in
value to Executive&#146;s Annual Bonus that would have been earned for the calendar year in which the Termination Date occurs at the &#147;Target&#148; level, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that
Executive is employed by DDR during the applicable performance period. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the
Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum in cash in an amount equal to the product of (i) 18 multiplied by (ii)&nbsp;the sum of (A)&nbsp;the
monthly COBRA premium for health, dental and vision insurance benefits but only if Executive timely elects continuation coverage under DDR&#146;s health, dental and vision plans pursuant to COBRA, plus (B)&nbsp;the employer portion of the monthly
premium for other DDR provided insurance (e.g., life, disability, etc.) in effect for Executive as of the Termination Date. Such payments shall be taxable to Executive. DDR will pay this amount to Executive as soon as practicable (but no later than
74 days) following the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7.5 <U>Upon Termination In Connection With a Change in Control</U>. Upon the occurrence of a
Triggering Event during the Contract Period while Executive is employed by DDR, DDR will pay and provide to Executive the amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B>, and DDR will be deemed to
have waived its right to provide a Release as provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.2</U></B>, and the provision of a Release will not be a condition to Executive receiving any payment or benefit from DDR under this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B>. The amounts and benefits specified in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5</U></B> are as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) A lump sum amount equal to Executive&#146;s Base Salary and any accrued but unused paid time off for the year through the Termination Date,
to the extent not already paid in accordance with DDR policy. DDR will pay this amount to Executive within 30 days of the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) A lump sum amount equal to Executive&#146;s Annual Bonus earned for the calendar year immediately preceding the calendar year in which the
Termination Date occurs, to the extent not already paid. DDR will pay this amount to Executive on the same date and in the same amount that the Annual Bonus for such year would have been paid if Executive&#146;s employment had not been terminated,
but in any event not later than March&nbsp;15 of the calendar year in which the Termination Date occurs. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) A lump sum amount equal in value to Executive&#146;s Annual Bonus that would have been earned
for the calendar year in which the Termination Date occurs at the &#147;Target&#148; level, <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on the number of days that Executive is employed by DDR during the applicable performance period.
Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) A lump sum amount equal to 2.5 times the sum of (i)&nbsp;Executive&#146;s annual Base Salary as of the Termination Date, plus (ii)&nbsp;an
amount equal to the Average Annual Bonus. Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date.
Notwithstanding the foregoing, in the event that the Termination Date occurs prior to the determination of Annual Bonus payouts with respect to the 2017 calendar year, the Average Annual Bonus will be deemed to be Executive&#146;s &#147;Target&#148;
Annual Bonus as in effect on the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(e) A lump sum in cash in an amount equal to the product of (i) 18 multiplied by
(ii)&nbsp;the sum of (A)&nbsp;the monthly COBRA premium for health, dental and vision benefits but only if Executive timely elects continuation coverage under DDR&#146;s health, dental and vision plans pursuant to COBRA, plus (B)&nbsp;the employer
portion of the monthly premium for other DDR provided insurance (e.g., life, disability, etc.) in effect for Executive as of the Termination Date. Such payments shall be taxable to Executive. Subject to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.1</U></B>, DDR will pay this amount to Executive as soon as practicable (but no later than 74 days) following the Termination Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8. <U>Release</U>. This <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> will apply only upon termination of Executive&#146;s employment during the
Contract Period (a)&nbsp;by DDR without Cause, (b)&nbsp;by Executive for Good Reason, (c)&nbsp;by reason of Executive&#146;s death or (d)&nbsp;by DDR pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B> following Executive&#146;s
disability. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.1 <U>Presentation of Release by DDR</U>. If this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> applies, DDR may
present to Executive (or in the case of Executive&#146;s death or legal incapacity, to Executive&#146;s personal representative), not later than 21 days after the Termination Date, a form of release (a &#147;<B><I>Release</I></B>&#148;) of all
current and future claims, known or unknown, arising on or before the date on which the Release is to be executed, that Executive or Executive&#146;s assigns have or may have against DDR or any Subsidiary, and the directors, officers, and affiliates
of any of them, substantially in the form attached hereto as <U>Exhibit B</U>, but subject to such modifications as may be reasonably determined necessary or appropriate by the Committee to reflect changes in applicable law or reasonable changes in
best practices between the Effective Date and the execution of such Release, together with a covering message in which DDR advises Executive (or Executive&#146;s personal representative) that the Release is being presented in accordance with this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.1</U></B> and that a failure by Executive (or Executive&#146;s personal representative) to execute and return the Release as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.3</U></B>
would relieve DDR of the obligation to make payments otherwise due to Executive (or to Executive&#146;s personal representative) under one or more portions of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>,
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the case may be. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.2 <U>Effect of Failure by DDR to Present Release</U>. If DDR fails to present a Release and
covering message to Executive (or Executive&#146;s personal representative) as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.1</U></B>, DDR will be deemed to have waived the requirement that Executive (or Executive&#146;s personal
representative) execute a Release as a condition to receiving payments under any portion of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>, <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the case may be. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.3 <U>Execution of Release by Executive or
Executive</U><U>&#146;</U><U>s Personal Representative</U>. If DDR does present a Release and covering message to Executive (or Executive&#146;s personal representative) as contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8.1</U></B>,
Executive (or Executive&#146;s personal representative) will have until 60 days after the Termination Date (i.e., at least 39 days after presentation of the Release to Executive (or Executive&#146;s personal representative)) within which to deliver
an executed copy of the Release to DDR and thereby satisfy the condition to receiving payments under any portion of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>, <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the case may be, provided that Executive (or Executive&#146;s personal representative) does not revoke the execution of the Release during any applicable revocation period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8.4 <U>Effect of Failure to Execute Release or of Revocation of Release</U>. If Executive (or Executive&#146;s personal representative) fails
to deliver an executed copy of the Release to DDR within 60 days after the Termination Date or revokes the execution of the Release during any applicable revocation period, Executive (or Executive&#146;s personal representative) will be deemed to
have waived the right to receive all payments under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.2</U></B>, <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.3</U></B> or <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.4</U></B>, as the case may
be, that were conditioned on the Release. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9. <U>Disability Definitions; Physical Examination</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">9.1 <U>Definitions</U>. For all purposes of this Agreement: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) Executive&#146;s &#147;Own Occupation&#148; means the regular occupation in which Executive is engaged under this Agreement at the time
Executive becomes disabled. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) &#147;Total Disability&#148; means that, because of sickness or injury, Executive is not able to perform
the material and substantial duties of Executive&#146;s Own Occupation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) &#147;Totally Disabled&#148; means that Executive suffers from
Total Disability (and Executive will be deemed to continue to be Totally Disabled so long as Executive is not able to work in Executive&#146;s Own Occupation even if Executive works in some other capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">9.2 <U>Physical Examination</U>. If either DDR or Executive, at any time or from time to time after receipt of notice of Executive&#146;s Total
Disability from the other, desires to contend that Executive is not Totally Disabled, Executive will promptly submit to a physical examination by the chief of medicine of any major accredited hospital in the New York, New York or Cleveland, Ohio
areas (at DDR&#146;s reasonable cost) and, unless that physician issues his or her written statement to the effect that, in his or her opinion, based on his or her diagnosis, Executive is capable of resuming Executive&#146;s Own Occupation and
discharging the duties of Executive&#146;s Own Occupation in accordance with the terms of this Agreement, Executive will be deemed to be and to continue to be Totally Disabled for all purposes of this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.<I> </I><U>No Set</U><U><FONT STYLE="white-space:nowrap">-Off;</FONT> No Obligation to Seek Other Employment
or to Otherwise Mitigate Damages; No Effect Upon Other Plans</U><I>. </I>DDR&#146;s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations under this Agreement will not be affected by any <FONT
STYLE="white-space:nowrap">set-off,</FONT> counterclaim, recoupment, defense, or other claim whatsoever that DDR or any Subsidiary or affiliate may have against Executive, except that the prohibition on
<FONT STYLE="white-space:nowrap">set-off,</FONT> counterclaim, recoupment, defense, or other claim contained in this sentence will not apply if Executive&#146;s employment is terminated by DDR for Cause. Executive will not be required to mitigate
damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise. The amount of any payment provided for under this Agreement will not be reduced by any compensation or benefits earned by Executive as
the result of employment by another employer or otherwise after the Termination Date. Neither the provisions of this Agreement nor the making of any payment provided for under this Agreement, nor the termination of DDR&#146;s obligations under this
Agreement, will reduce any amounts otherwise payable, or in any way diminish Executive&#146;s rights, under any incentive compensation plan, stock option or stock appreciation rights plan, restricted stock plan or agreement, deferred compensation,
retirement, or supplemental retirement plan, stock purchase and savings plan, disability or insurance plan, or other similar contract, plan, or arrangement of DDR or any Subsidiary, all of which will be governed by their respective terms. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">11.<I> </I><U>Payments Are in Lieu of Severance Payments</U><I>.</I>&nbsp;If Executive becomes entitled to receive payments under this Agreement as a result of
termination of Executive&#146;s employment, those payments will be in lieu of any and all other claims or rights that Executive may have against DDR for severance, separation, and/or salary continuation pay upon that termination of Executive&#146;s
employment. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12. <U>Covenants and Confidential Information</U>. Executive acknowledges DDR&#146;s reliance on and expectation of Executive&#146;s continued
commitment to performance of Executive&#146;s duties and responsibilities during the Contract Period while Executive is employed by DDR and Executive assumes the obligations set out in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B>
in light of that reliance and expectation on the part of DDR. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.1 <U>Noncompetition</U>. During the Contract Period while Executive is
employed by DDR, and for a period of 12 months thereafter, Executive will not, directly or indirectly, own, manage, control, or participate in the ownership, management, or control of, or be employed or engaged by or otherwise affiliated or
associated as a consultant, independent contractor, or otherwise with, any entity that has been designated as being part of DDR&#146;s peer group, as determined by the Committee and set forth in the most recent proxy statement filed by DDR;
<U>provided</U>, <U>however</U>, that the ownership by Executive of not more than three percent of any class of publicly traded securities of any entity will not be deemed a violation of this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.1</U></B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.2 <U>Confidentiality</U>. Throughout and after the Contract Period,
Executive will not disclose, divulge, discuss, copy, or otherwise use or suffer to be used in any manner, in competition with, or contrary to the interests of, DDR, any confidential information relating to&nbsp;DDR&#146;s operations, properties, or
otherwise to its particular business or other trade secrets of DDR, it being acknowledged by Executive that all such information regarding the business of&nbsp;DDR compiled or obtained by, or furnished to, Executive during Executive&#146;s
employment by or association with DDR is confidential information and DDR&#146;s exclusive property. The restrictions in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.2</U></B> will not apply to any information to the extent that it
(a)&nbsp;is clearly obtainable in the public domain, (b)&nbsp;becomes obtainable in the public domain, except by reason of the breach by Executive of Executive&#146;s obligations under this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.2</U></B>, (c) was not acquired by Executive in connection with Executive&#146;s employment or affiliation with DDR, (d)&nbsp;was not acquired by Executive from DDR or its representatives, or
(e)&nbsp;is required to be disclosed by rule of law or by </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
order of a court or governmental body or agency. However, nothing herein is intended to interfere with or discourage the disclosure of a suspected violation of the law to any governmental entity,
or to discourage Executive from participating in an investigation by a governmental entity regarding a suspected violation of the law. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.3 <U><FONT STYLE="white-space:nowrap">Non-Disparagement</FONT></U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) Throughout and after the Contract Period, outside the ordinary course of business on behalf of the Company, Executive will not make or
issue, or procure any person, firm, or entity to make or issue, any statement in any form, including written, oral and electronic communications of any kind, which conveys negative or adverse information concerning DDR or its Subsidiaries or
affiliates, or any of their legal predecessors, successors, assigns, parents, subsidiaries, divisions or other affiliates, or any of the foregoing&#146;s respective past, present or future directors, officers, employees or representatives
(collectively, the &#147;<B><I><FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Parties</I></B>&#148;), or any <FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Party&#146;s business, or its actions, to any person or entity,
regardless of the truth or falsity of such statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) Throughout and after the Contract Period, DDR will reasonably direct the
executive officers and directors of DDR not to make or issue, or procure any person, firm, or entity to make or issue, any statement in any form, including written, oral and electronic communications of any kind, which conveys negative or adverse
information concerning Executive or any of Executive&#146;s legal successors, assigns, or other affiliates, or any of the foregoing&#146;s respective past, present or future directors, officers, employees or representatives (collectively, the
&#147;<B><I>Executive</I></B> <B><I><FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Parties</I></B>&#148;), or any Executive <FONT STYLE="white-space:nowrap">Non-Disparagement</FONT> Party&#146;s business, or its actions, to any person or
entity, regardless of the truth or falsity of such statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) This <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12.3</U></B> does
not apply to truthful testimony or disclosure compelled or required by applicable law or legal process. Notwithstanding anything in this Agreement to the contrary, Executive is not prohibited from providing information voluntarily to the Securities
and Exchange Commission pursuant to Section 21F of the Securities Exchange Act of 1934, as amended. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.4 <U>Nonsolicitation</U>. During
the Contract Period while Executive is employed by DDR, and for a period of 12 months thereafter, Executive will not directly or indirectly solicit or induce or attempt to solicit or induce any employee of DDR and/or of any Subsidiary or affiliate
to terminate his or her employment with DDR and/or any Subsidiary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.5 <U>Remedies</U>. Executive acknowledges that the remedy at law for
any breach by Executive of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> may be inadequate and that the damages following from any such breach may not be readily susceptible to being measured in monetary terms. Accordingly,
Executive agrees that, upon adequate proof of Executive&#146;s violation of any legally enforceable provision of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B>, DDR will be entitled to immediate injunctive relief and may obtain a
temporary order restraining any threatened or further breach. Nothing in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> will be deemed to limit DDR&#146;s remedies at law or in equity for any breach by Executive of any of the
provisions of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> that may be pursued or availed of by DDR. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">12.6 <U>Acknowledgement</U>. Executive has carefully considered the nature and extent of the
restrictions upon Executive and the rights and remedies conferred upon DDR under this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B>, and hereby acknowledges and agrees that the same are reasonable in time and territory, are designed to
eliminate competition that otherwise would be unfair to DDR, do not stifle the inherent skill and experience of Executive, would not operate as a bar to Executive&#146;s sole means of support, are fully required to protect the legitimate interests
of DDR, and do not confer a benefit upon DDR disproportionate to the detriment to Executive. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">13. <U>Compliance with Section 409A</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.1 <U>Six Month Delay on Certain Payments, Benefits, and Reimbursements</U>. If Executive is a &#147;specified employee&#148; for purposes of
Section&nbsp;409A, as determined under DDR&#146;s policy for determining specified employees on the Termination Date, each payment, benefit, or reimbursement paid or provided under this Agreement that constitutes a &#147;deferral of
compensation&#148; within the meaning of Section 409A, that is to be paid or provided as a result of a &#147;separation from service&#148; within the meaning of Section 409A, and that would otherwise be paid or provided at any time (a
&#147;<B><I>Scheduled Time</I></B>&#148;) that is on or before the date (the &#147;<B><I>Six Month Date</I></B>&#148;) that is exactly six months after the Termination Date (other than payments, benefits, or reimbursements that are treated as
separation pay under Section <FONT STYLE="white-space:nowrap">1.409A-1(b)(9)(v)</FONT> of the Treasury Regulations) will not be paid or provided at the Scheduled Time but will be accumulated (together with interest at the applicable federal rate
under Section 7872(f)(2)(A) of the Internal Revenue Code in effect on the Termination Date) through the Six Month Date and paid or provided during the period of 30 consecutive days beginning on the first business day after the Six Month Date (that
period of 30 consecutive days, the &#147;<B><I>Seventh Month after the Termination Date</I></B>&#148;), except that if Executive dies before the Six Month Date, the payments, benefits, or reimbursements will be accumulated only through the date of
Executive&#146;s death and thereafter paid or provided not later than 30 days after the date of death. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.2 <U>Additional Limitations on
Reimbursements and <FONT STYLE="white-space:nowrap">In-Kind</FONT> Benefits</U>. The reimbursement of expenses or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits provided under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> or
under any other section of this Agreement that are taxable benefits (and that are not disability pay or death benefit plans within the meaning of Section 409A) are intended to comply, to the maximum extent possible, with the exception to Section
409A set forth in Section <FONT STYLE="white-space:nowrap">1.409A-1(b)(9)(v)</FONT> of the Treasury Regulations. To the extent that any reimbursement of expenses or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits provided under
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> or under any other section of this Agreement do not qualify for that exception and are otherwise deferred compensation subject to Section 409A , then they will be subject to the following
additional rules: (i)&nbsp;any reimbursement of eligible expenses will be paid within 30 days following Executive&#146;s written request for reimbursement; <U>provided</U>, <U>however</U>, that Executive provides written notice no later than 60 days
before the last day of the calendar year following the calendar year in which the expense was incurred so that DDR can make the reimbursement within the time periods required by Section 409A; (ii)&nbsp;the amount of expenses eligible for
reimbursement, or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits provided, during any calendar year will not affect the amount of expenses eligible for reimbursement, or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits to be
provided, during any other calendar year; and (iii)&nbsp;the right to reimbursement or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits will not be subject to liquidation or exchange for any other benefit. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.3 <U>Compliance Generally</U>. Each payment or reimbursement and the provision of each benefit
under this Agreement shall be considered a separate payment and not one of a series of payments for purposes of Section 409A. DDR and Executive intend that the payments and benefits provided under this Agreement will either be exempt from the
application of, or comply with, the requirements of Section 409A. This Agreement is to be construed, administered, and governed in a manner that effects that intent and DDR will not take any action that is inconsistent with that intent. Without
limiting the foregoing, the payments and benefits provided under this Agreement may not be deferred, accelerated, extended, paid out, or modified in a manner that would result in the imposition of an additional tax under Section 409A upon Executive.
Notwithstanding any provision of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> to the contrary, if the period commencing on the Termination Date begins in one taxable year of Executive and the 74th day following the Termination Date is in
a subsequent taxable year, any amounts payable under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> which are considered deferred compensation under Section 409A shall be paid in such subsequent taxable year. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">13.4 <U>Termination of Employment to Constitute a Separation from Service</U>. The parties intend that the phrase &#147;termination of
employment&#148; and words and phrases of similar import mean a &#147;separation from service&#148; with DDR within the meaning of Section 409A. Executive and DDR will take all steps necessary (including taking into account this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;13.4</U></B> when considering any further agreement regarding provision of services by Executive to DDR after the Termination Date) to ensure that (a)&nbsp;any termination of employment under this
Agreement constitutes a &#147;separation from service&#148; within the meaning of Section 409A, and (b)&nbsp;the Termination Date is the date on which Executive experiences a &#147;separation from service&#148; within the meaning of Section 409A.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.<I> </I><U>Indemnification</U><I>.</I>&nbsp;DDR will indemnify Executive, to the full extent permitted or authorized by the Ohio General Corporation
Law as it may from time to time be amended, if Executive is made or threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative, by reason of the fact
that Executive is or was a director, officer, or employee of DDR and/or of any Subsidiary, or is or was serving at the request of DDR and/or of any Subsidiary as a director, trustee, officer, or employee of a corporation, partnership, joint venture,
trust, or other enterprise. The indemnification provided by this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;14</U></B> will not be deemed exclusive of any other rights to which Executive may be entitled under the articles of incorporation or the
regulations of DDR and/or of any Subsidiary, or any agreement, vote of shareholders or disinterested directors, or otherwise, both as to action in Executive&#146;s official capacity and as to action in another capacity while holding such office, and
will continue as to Executive after Executive has ceased to be a director, trustee, officer, or employee and will inure to the benefit of Executive&#146;s heirs, executors, and administrators. In particular, Executive will continue to be entitled to
the full benefit of the indemnification agreement dated as of the Effective Date between Executive and DDR (the &#147;<B><I>Indemnification Agreement</I></B>&#148;) for so long as that Indemnification Agreement remains in effect according to its
terms. In the event of any conflict or inconsistency between the provisions of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;14</U></B> and the provisions of the Indemnification Agreement, the provisions of the Indemnification Agreement shall
control. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">15.<I> </I><U>Adjustment of Certain Payments and Benefits</U>. Notwithstanding any provision of this Agreement to the contrary, if any payment or
benefit to be paid or provided hereunder or under any other plan or agreement would be an &#147;Excess Parachute Payment,&#148; within the meaning of Section 280G of the Internal Revenue Code, or any successor provision thereto, but for the
application of this sentence, then the payments and benefits to be paid or provided hereunder shall be reduced to the minimum extent necessary (but in no event to less than zero) so that no portion of any such payment or benefit, as so reduced,
constitutes an Excess Parachute Payment; <U>provided</U>, <U>however</U>, that the foregoing reduction shall be made </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
only if and to the extent that such reduction would result in an increase in the aggregate payments and benefits to be provided, determined on an <FONT STYLE="white-space:nowrap">after-tax</FONT>
basis (taking into account the excise tax imposed pursuant to Section&nbsp;4999 of the Internal Revenue Code, or any successor provision thereto, any tax imposed by any comparable provision of state law, and any applicable federal, state and local
income taxes). The determination of whether any reduction in such payments or benefits to be provided hereunder is required pursuant to the preceding sentence shall be made at the expense of the Company, if requested by Executive or the Company, by
the Company&#146;s independent accountants or a nationally recognized law firm chosen by the Company. The fact that Executive&#146;s right to payments or benefits may be reduced by reason of the limitations contained in this Section shall not of
itself limit or otherwise affect any other rights of Executive under this Agreement. In the event that any payment or benefit intended to be provided hereunder is required to be reduced pursuant to this Section, then the reduction shall occur in the
following order: (a)&nbsp;reduction of the lump sum amount set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7.5(d)</U></B>; (b)&nbsp;reduction of the lump sum amount set forth in <B><U>Section 7.5(c)</U></B>; and (c)&nbsp;reduction, on a <FONT
STYLE="white-space:nowrap">pro-rata</FONT> basis, of any other &#147;Excess Parachute Payments&#148; payable under any plan or arrangement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">16. <U>Certain
Expenses</U>. This <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;16</U></B> will apply only to expenses that (a)&nbsp;are otherwise described in one or more of its subsections and (b)&nbsp;are incurred at any time from the Effective Date through
the fifth anniversary of Executive&#146;s death. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">16.1 <U>Reimbursement of Certain Expenses</U>. DDR will pay, as incurred, all expenses,
including the reasonable fees of counsel engaged by Executive, of Executive in (a)&nbsp;prosecuting any action to compel DDR to comply with the terms of this Agreement upon receipt from Executive of an undertaking to repay DDR for such expenses if
it is ultimately determined by a court of competent jurisdiction that Executive had no reasonable grounds for bringing such action or (b)&nbsp;defending any action brought by a party other than Executive or Executive&#146;s personal representative
to have this Agreement declared invalid or unenforceable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">16.2 <U>Advancement of Certain Expenses</U>. Expenses (including the reasonable
fees of counsel engaged by Executive) incurred by Executive in defending any action, suit, or proceeding commenced or threatened against Executive for any action or failure to act as an employee, officer or director of DDR and/or of any Subsidiary
will be paid by DDR, as they are incurred, in advance of final disposition of the action, suit, or proceeding upon receipt of an undertaking by or on behalf of Executive in which Executive agrees to reasonably cooperate with DDR and/or the
Subsidiary, as the case may be, concerning the action, suit, or proceeding, and (a)&nbsp;if the action, suit, or proceeding is commenced or threatened against Executive for any action or failure to act as a director, to repay the amount if it is
proved by clear and convincing evidence in a court of competent jurisdiction that his action or failure to act involved an act or omission undertaken with deliberate intent to cause injury to DDR or a Subsidiary or with reckless disregard for the
best interests of DDR or a Subsidiary, or (b)&nbsp;if the action, suit, or proceeding is commenced or threatened against Executive for any action or failure to act as an officer or employee, to repay the amount if it is ultimately determined that
Executive is not entitled to be indemnified. The obligation of DDR to advance expenses provided for in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;16.2</U></B> will not be deemed exclusive of any other rights to which Executive may be
entitled under the articles of incorporation or the regulations of DDR or of any Subsidiary, or any agreement, vote of shareholders or disinterested directors, or otherwise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">17.<I> </I><U>Survival of Obligations</U><I>.</I>&nbsp;Except as is otherwise expressly provided in this
Agreement, the respective obligations of DDR and Executive under this Agreement will survive any termination of Executive&#146;s employment under this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">18. <U>Notices</U><I>.</I>&nbsp;Notices and all other communications provided for in this Agreement must be in writing and will be deemed to have been duly
given upon receipt (or rejection) when delivered in person or by overnight delivery (to the chief legal officer of DDR in the case of notices to DDR and to Executive in the case of notices to Executive) or mailed by United States registered mail,
return receipt requested, postage prepaid, and addressed, if to DDR, to its principal place of business, attention: Chief Legal Officer, and, if to Executive, to Executive&#146;s home address last shown on the records of DDR, or to such other
address or addresses as either party may furnish to the other in accordance with this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;18</U></B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">19.
<U>Entire Agreement</U>. Except as otherwise set forth below in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;19</U></B>, this Agreement and the agreements specifically referenced herein supersede in their entirety all prior agreements between
the parties, if any, and all understandings between them, if any, with respect to the subject matter of this Agreement. As provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;14</U></B>, Executive will continue to be entitled to the full
benefit of the Indemnification Agreement for so long as it remains in effect according to its terms. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">20. <U>Mandatory Arbitration Before a Change in
Control</U>. <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.1</U></B> will apply if and only if either party notifies the other, in writing, that it is demanding resolution of a then-current controversy or claim by arbitration and the notice is
provided by the notifying party to the other party before any Change in Control has occurred. Nothing in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20</U></B> will limit the right of DDR to seek and obtain injunctive relief in a court of
equity for any breach or threatened breach by Executive of any of Executive&#146;s covenants contained in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> above. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">20.1 <U>Scope of Arbitration</U>. If this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.1</U></B> applies, any controversy or claim arising
out of or relating to this Agreement or any breach of this Agreement will be settled by binding arbitration to be held before three arbitrators and conducted in accordance with the Employment Arbitration Rules and Mediation Procedures of the
American Arbitration Association in the City of Cleveland, Ohio or New York, New York. The decision of the arbitrators will be final and binding on both parties and judgment on any award rendered by the arbitrators may be entered in any court of
competent jurisdiction. Costs and expenses of any such arbitration will be borne by the parties as may be directed by the arbitrators taking into account the extent to which the positions taken by each of the parties are reasonable. The arbitrators
will have the power to issue mandatory orders and restraining orders in connection with any such arbitration. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">20.2 <U>Other Disputes</U>.
If <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.1</U></B> does not apply to any claim or controversy between the parties, the parties may nevertheless, but need not, mutually agree to submit any controversy or claim to arbitration as though
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.1</U></B> did apply. Failing any such mutual agreement, either party may bring proceedings against the other with respect to any claim or controversy in any court of competent jurisdiction that
satisfies the venue requirements set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;21.8</U></B>. Nothing in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.2</U></B> imposes upon either party any obligation to discuss possible
arbitration of any claim or controversy to which <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20.1</U></B> does not apply before bringing any court proceedings with respect to that claim or controversy. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">21. <U>Miscellaneous</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.1 <U>No
Conflict</U>. Executive represents and warrants that Executive is not a party to any agreement, contract, or understanding, whether employment or otherwise, that would restrict or prohibit Executive from undertaking or performing employment in
accordance with the terms and conditions of this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.2 <U>Assistance</U>. During the term of this Agreement and thereafter, Executive will provide
reasonable assistance to DDR in litigation and regulatory matters that relate to events that occurred during Executive&#146;s period of employment with DDR and its predecessors, and will provide reasonable assistance to DDR with matters relating to
its corporate history from the period of Executive&#146;s employment with it or its predecessors. Executive will be entitled to reimbursement of reasonable <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT>
travel or related costs and expenses relating to any such cooperation or assistance that occurs following the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.3
<U>Severability</U>. The provisions of this Agreement are severable and if any one or more provision is determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions and any partially unenforceable provision to
the extent enforceable in any jurisdiction nevertheless will be binding and enforceable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.4 <U>Benefit of Agreement</U>. The rights and
obligations of DDR under this Agreement will inure to the benefit of, and will be binding on, DDR and its successors and assigns, and the rights and obligations (other than obligations to perform services) of Executive under this Agreement will
inure to the benefit of, and will be binding upon, Executive and Executive&#146;s heirs, personal representatives, and assigns. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.5 <U>No
Waiver</U>. The failure of either party to enforce any provision or provisions of this Agreement will not in any way be construed as a waiver of any such provision or provisions as to any future violations thereof, nor prevent that party from later
enforcing each and every other provision of this Agreement. The rights granted the parties in this Agreement are cumulative and the waiver of any single remedy will not constitute a waiver of that party&#146;s right to assert all other legal
remedies available to it under the circumstances. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.6 <U>Modification</U>. This Agreement may not be modified or terminated orally. No
modification or termination will be valid unless in writing and signed by the party against which the modification or termination is sought to be enforced. Notwithstanding anything in this Agreement to the contrary, however, Executive acknowledges
and agrees that this Agreement and any compensation described herein are subject to the terms and conditions of the Company&#146;s clawback policy (if any) as may be in effect from time to time specifically to implement Section 10D of the Securities
Exchange Act of 1934, as amended, and any applicable rules or regulations promulgated thereunder (including applicable rules and regulations of any national securities exchange on which the Shares may be traded) (the &#147;<B><I>Compensation
Recovery Policy</I></B>&#148;), and that applicable sections of this Agreement and any related documents shall be deemed superseded by and subject to the terms and conditions of the Compensation Recovery Policy from and after the effective date
thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.7 <U>Merger or Transfer of Assets of DDR</U><I>.</I>&nbsp;During the Contract Period while Executive is employed by DDR, DDR
will not consolidate with or merge into any other corporation, or transfer all or substantially all of its assets to another corporation, unless such other corporation assumes this Agreement in a signed writing and delivers a copy thereof to
Executive, which signed writing may consist of the merger or sale agreement, or similar document. Upon any such assumption, the successor corporation will become obligated to perform the obligations of DDR under this Agreement, and the terms
&#147;DDR&#148; and the &#147;Company,&#148; as used in this Agreement, will be deemed to refer to that successor corporation, and the term &#147;the Board&#148; as used in this Agreement will be deemed to refer to the board of directors of that
successor corporation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.8 <U>Governing Law and Venue</U>. The provisions of this Agreement will be governed by and
construed in accordance with the laws of the State of Ohio applicable to contracts made in and to be performed exclusively within that State, notwithstanding any conflict of law provision to the contrary. Subject to the mandatory arbitration
provisions of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20</U></B>, the parties consent to venue and personal jurisdiction over them in the courts of the State of Ohio and federal courts sitting in Cleveland, Ohio, for purposes of construing
and enforcing this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">21.9 <U>Termination of Status as Director or Officer</U>. Notwithstanding anything in this Agreement to the
contrary, unless otherwise agreed to by DDR and Executive prior to the Termination Date, Executive shall be deemed to have automatically resigned from all directorships and offices with DDR and its Subsidiaries, and their affiliates (including joint
ventures), as of the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">22. <U>Definitions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.1 <U>Cause</U>. The term &#147;Cause&#148; has the meaning set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.2</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.2 <U>Change in Control</U>. The term &#147;Change in Control&#148; means the occurrence, during the Contract Period while Executive is
employed by DDR, of any of the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) consummation of a consolidation or merger in which DDR is not the surviving corporation, the
sale of substantially all of the assets of DDR, or the liquidation or dissolution of DDR; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) any person or other entity (other than DDR
or a Subsidiary or any DDR employee benefit plan (including any trustee of any such plan acting in its capacity as trustee)) purchases any Shares (or securities convertible into Shares) pursuant to a tender or exchange offer without the prior
consent of the Board, or becomes the beneficial owner of securities of DDR representing 30% or more of the voting power of DDR&#146;s outstanding securities without the prior consent of the Board; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(c) during any <FONT STYLE="white-space:nowrap">two-year</FONT> period, individuals who at the beginning of such period constitute the entire
Board cease to constitute a majority of the Board; <U>provided</U>, that any person becoming a director of DDR during such <FONT STYLE="white-space:nowrap">two-year</FONT> period whose election, or nomination for election by DDR&#146;s shareholders,
was approved by a vote of at least <FONT STYLE="white-space:nowrap">two-thirds</FONT> of the directors who at the beginning of such period constituted the entire Board (either by a specific vote or by approval of DDR&#146;s proxy statement in which
such person is named as a nominee of DDR for director), but excluding for this purpose any person whose initial assumption of office as a director of DDR occurs as a result of either an actual or threatened election contest with respect to the
election or removal of directors of DDR or other actual or threatened solicitation of proxies or consents by or on behalf of an individual, corporation, partnership, group, associate or other entity or person other than the Board, shall be, for
purposes of this <B><U>Section 22.2(c)</U></B>, considered as though such person was a member of the Board at the beginning of such period. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.3 <U>Committee</U>. The term &#147;Committee&#148; means the Executive Compensation Committee
of the Board or any other committee or subcommittee authorized by the Board to discharge the Board&#146;s responsibilities relating to the compensation of DDR&#146;s executives and directors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.4 <U>Good Reason</U>. The term &#147;Good Reason&#148; has the meaning set forth in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.3</U></B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.5 <U>Internal Revenue Code</U>. The term &#147;Internal Revenue Code&#148;
means the Internal Revenue Code of 1986, as amended. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.6 <U>Section</U>. References in this Agreement to one or more &#147;Sections&#148;
are to sections of this Agreement, except for references to certain Sections of the Internal Revenue Code. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.7
<U>Section</U><U></U><U>&nbsp;409A</U>. The term &#147;Section&nbsp;409A&#148; means Section&nbsp;409A of the Internal Revenue Code. References in this Agreement to Section 409A are intended to include any proposed, temporary, or final regulations,
or any other guidance, promulgated with respect to Section 409A by the U.S. Department of Treasury or the Internal Revenue Service. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.8
<U>Shares</U>. The term &#147;Shares&#148; means the Common Shares, par value $0.10 per share, of DDR. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.9 <U>Subsidiary</U>. The term
&#147;Subsidiary&#148; means any corporation, partnership, or other entity a majority of the voting control of which is directly or indirectly owned or controlled by DDR. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.10 <U>Termination Date</U>. The term &#147;Termination Date&#148; means the date on which Executive&#146;s employment with DDR and its
Subsidiaries terminates. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">22.11 <U>Triggering Event</U>. A &#147;Triggering Event&#148; for the purpose of this Agreement will be deemed to
have occurred if, during the Contract Period while Executive is employed by DDR: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(a) Within two years after the date on which a Change in
Control occurs, DDR terminates the employment of Executive, other than in the case of a termination for Cause, a termination by DDR pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6.1</U></B> following Executive&#146;s disability, or a
termination based on death; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) Within two years after the date on which a Change in Control occurs, Executive terminates his
employment with DDR for Good Reason. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, DDR and Executive have executed this Agreement, DDR by its duly authorized
officer, as of the date first written above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>DDR CORP.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David E. Weiss</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">David E. Weiss</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Executive Vice President,</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">General Counsel and Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Matthew L. Ostrower</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"><B>MATTHEW L. OSTROWER</B></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT A </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ANNUAL BONUS OPPORTUNITY </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AS A PERCENTAGE OF <FONT STYLE="white-space:nowrap">YEAR-END</FONT> BASE SALARY </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="29%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Threshold</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Target</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Maximum</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">50%</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">150%</TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PERFORMANCE SHARE AND PRSU AWARD OPPORTUNITIES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AS A PERCENTAGE OF &#147;TARGET&#148; </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="29%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Threshold</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Target</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Maximum</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">50%</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">200%</TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT B </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Form of Release </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In consideration of
certain benefits provided to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (&#147;<B><I>Executive</I></B>&#148;) and to be received by Executive from DDR Corp. (the
&#147;<B><I>Compan</I></B>y&#148;) as described in the Employment Agreement between the Company and Executive dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (the &#147;<B><I>Agreement</I></B>&#148;): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Claims Released</U></B>. Executive, for himself and on behalf of anyone claiming through Executive including each and all of Executive&#146;s legal representatives, administrators, executors, heirs, successors and
assigns (collectively, the &#147;<B><I>Executive Releasors</I></B>&#148;), does hereby fully, finally and forever release, absolve and discharge the Company and each and all of its legal predecessors, successors, assigns, fiduciaries, parents,
subsidiaries, divisions and other affiliates, and each of the foregoing&#146;s respective past, present and future principals, partners, shareholders, directors, officers, employees, agents, consultants, attorneys, trustees, administrators,
executors and representatives (collectively, the &#147;<B><I>Company Released Parties</I></B>&#148;), of, from and for any and all claims, causes of action, lawsuits, controversies, liabilities, losses, damages, costs, expenses and demands of any
nature whatsoever, at law or in equity, whether known or unknown, asserted or unasserted, foreseen or unforeseen, that the Executive Releasors (or any of them) now have, have ever had, or may have against the Company Released Parties (or any of
them) based upon, arising out of, concerning, relating to or resulting from any act, omission, matter, fact, occurrence, transaction, claim, contention, statement or event occurring or existing at any time in the past up to and including the date on
which Executive signs this Release, including, without limitation, (a)&nbsp;all claims arising out of or in any way relating to Executive&#146;s employment with or separation of employment from the Company or its affiliates; (b)&nbsp;all claims for
compensation or benefits, including salary, commissions, bonuses, vacation pay, expense reimbursements, severance pay, fringe benefits, stock options, restricted stock units or any other ownership interests in the Company Released Parties;
(c)&nbsp;all claims for breach of contract, wrongful termination and breach of the implied covenant of good faith and fair dealing; (d)&nbsp;all tort claims, including claims for fraud, defamation, invasion of privacy and emotional distress;
(e)&nbsp;all other common law claims; and (f)&nbsp;all claims (including claims for discrimination, harassment, retaliation, attorneys fees, expenses or otherwise) that were or could have been asserted by Executive or on his behalf in any federal,
state, or local court, commission, or agency, or under any federal, state, local, employment, services or other law, regulation, ordinance, constitutional provision, executive order or other source of law, including without limitation under any of
the following laws, as amended from time to time: the Age Discrimination in Employment Act (the &#147;<B><I>ADEA</I></B>&#148;), as amended by the Older Workers&#146; Benefit Protection Act of 1990 (the &#147;<B><I>OWBPA</I></B>&#148;), Title VII of
the Civil Rights Act of 1964, 42 U.S.C. &#167;&#167; 1981 &amp; 1981a, the Americans with Disabilities Act, the Equal Pay Act, the Employee Retirement Income Security Act, the Lilly Ledbetter Fair Pay Act of 2009, the Family and Medical Leave Act,
Sarbanes-Oxley Act of 2002, the National Labor Relations Act, the Rehabilitation Act of 1973, the WARN Act, Federal Executive Order 11246, and the Genetic Information Nondiscrimination Act. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B><U>Scope of Release</U></B>. Nothing in this Release (a)&nbsp;shall release the Company from any of its
obligations set forth in the Agreement or any claim that by law is <FONT STYLE="white-space:nowrap">non-waivable,</FONT> (b)&nbsp;shall release the Company from any obligation to defend and/or indemnify Executive against any third party claims
arising out of any action or inaction by Executive during the time of his employment and </P></TD></TR></TABLE>

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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
within the scope of his duties with the Company to the extent Executive has any such defense or indemnification right, and to the extent permitted by applicable law and to the extent the claims
are covered by the Company&#146;s director&nbsp;&amp; officer liability insurance or (c)&nbsp;shall affect Executive&#146;s right to file a claim for workers&#146; compensation or unemployment insurance benefits. </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Executive further acknowledges that by signing this Release, Executive does not waive the right to file a charge against the Company with,
communicate with or participate in any investigation by the EEOC, the Securities and Exchange Commission or any comparable state or local agency. However, Executive waives and releases, to the fullest extent legally permissible, all entitlement to
any form of monetary relief arising from a charge Executive or others may file, including without limitation any costs, expenses or attorneys&#146; fees. Executive understands that this waiver and release of monetary relief would not affect an
enforcement agency&#146;s ability to investigate a charge or to pursue relief on behalf of others. Notwithstanding the foregoing, Executive will not give up his right to any benefits to which he is entitled under any retirement plan of the Company
that is intended to be qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended, or his rights, if any, under Part 6 of Subtitle B of Title I of the Employee Retirement Income Security Act of 1974, as amended (COBRA), or any
monetary award offered by the Securities and Exchange Commission pursuant to Section 21F of the Securities Exchange Act of 1934, as amended. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Knowing and Voluntary ADEA Waiver</U></B>. In compliance with the requirements of the OWBPA, Executive acknowledges by his signature below that, with respect to the rights and claims waived and released in this
Release under the ADEA, Executive specifically acknowledges and agrees as follows: (a)&nbsp;Executive has read and understands the terms of this Release; (b)&nbsp;Executive has been advised and hereby is advised, and has had the opportunity, to
consult with an attorney before signing this Release; (c)&nbsp;Executive is releasing the Company and the other Company Released Parties from, among other things, any claims that Executive may have against them pursuant to the ADEA; (d)&nbsp;the
releases contained in this Release do not cover rights or claims that may arise after Executive signs this Release; (e)&nbsp;Executive has been given a period of 21 days in which to consider and execute this Release (although Executive may elect not
to use the full <FONT STYLE="white-space:nowrap">21-day</FONT> period at Executive&#146;s option); (f) Executive may revoke this Release during the <FONT STYLE="white-space:nowrap">seven-day</FONT> period following the date on which Executive signs
this Release, and this Release will not become effective and enforceable until the <FONT STYLE="white-space:nowrap">seven-day</FONT> revocation period has expired; and (g)&nbsp;any such revocation must be submitted in writing to the Company c/o
David E. Weiss, Executive Vice President, General Counsel and Secretary, DDR Corp., 3300 Enterprise Parkway, Beachwood, Ohio 44122 prior to the expiration of such <FONT STYLE="white-space:nowrap">seven-day</FONT> revocation period. If Executive
revokes this Release within such <FONT STYLE="white-space:nowrap">seven-day</FONT> revocation period, it shall be null and void. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Reaffirmation of Restrictive Covenants</U></B>. Executive agrees to and reaffirms his obligations as outlined in Section&nbsp;12 of the Agreement (&#147;<B><I>Restrictive Covenants</I></B>&#148;), and acknowledges
that the Restrictive Covenants remain in full force and effect. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Entire Agreement</U></B>. This Release, the Agreement, and the documents referenced therein contain the entire agreement between Executive and the Company, and take priority over any other written or oral
understanding or agreement that may have existed in the past. Executive acknowledges that no other promises or agreements have been offered for this Release (other than those described above) and that no other promises or agreements will be binding
unless they are in writing and signed by Executive and the Company. </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I agree to the terms and conditions set forth in this Release. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>EXECUTIVE </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
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