Sample Business Contracts

Employment Agreement - Trump Hotels & Casino Resorts Inc., Trump Hotels & Casino Resorts Holdings LP, Trump Atlantic City Associates and Francis X. McCarthy

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                                                     April 17, 2000

Francis X. McCarthy

Dear Mr. McCarthy:

         This letter will serve to confirm our understanding and agreement
pursuant to which Trump Hotels & Casino Resorts, Inc. ("THCR"), Trump Hotels &
Casino Resorts Holdings, L.P. ("Holdings"), and Trump Atlantic City Associates
("TACA"), (THCR, Holdings and TACA collectively referred to as "Trump") have
agreed to employ you, and you have agreed to be employed by Trump commencing as
of April 17, 2000, and expiring April 16, 2003 ("Expiration Date"), unless
terminated earlier pursuant to Paragraph 12 or 13 hereof:

1.       You shall be employed by Trump in the capacity of Executive Vice
         President of Corporate Finance to perform such duties as are commonly
         attendant upon such offices and shall report directly to THCR's Chief
         Executive Officer.

2.       During the term of this Agreement, you shall be paid an annual base
         salary at a rate not less than your current salary, payable
         periodically in accordance with Trump's regular payroll practices.

3.       During each year of your employment with Trump, you shall be eligible
         to receive bonus in an amount determined in the sole and absolute
         discretion of Trump's Chairman based upon the performance and
         profitability of Trump.

4.       You shall be afforded coverage under Trump's employee insurance
         programs in such form and at such levels as Trump, in its sole and
         absolute discretion, may hereafter elect to provide for similarly
         situated executives.

5.       a.       You shall be entitled to participate in Trump's executive
                  benefit programs in such form and at such levels as Trump,
                  in its sole and absolute discretion, may hereafter elect to
                  provide similarly situated executives.


Francis X. McCarthy
April 17, 2000
Page Two

         b.       You shall also have free use of hotel valet and laundry
                  services and executive comping privileges at such levels, if
                  any, as Trump in its sole and absolute discretion, shall
                  establish from time to time for similarly situated executives.

6.       You agree that until the Expiration Date and so long as Trump continues
         to pay your salary as provided herein, you shall not accept employment,
         either as an employee, consultant or independent contractor, with any
         other casino hotel located in Atlantic City, New Jersey. You
         acknowledge and agree that this restrictive covenant is reasonable as
         to duration, terms and geographical area and that the same is necessary
         to protect the legitimate interests of Trump, imposes no undue hardship
         on you and is not injurious to the public.

7.       You hereby agree that throughout the term of this Agreement you shall
         devote your full time, attention and efforts to Trump's business and
         shall not, directly or indirectly, work for, consult with or otherwise
         engage in any other activities of a business nature for any other
         person or entity, without Trump's prior written consent. You will
         promptly communicate to Trump, in writing when requested, and
         marketing strategies, technical designs and concepts, and other ideas
         pertaining to Trump's business which are conceived or developed by
         you, alone or with others, at any time (during or after business
         hours) while you are employed by Trump. You acknowledge that all of
         those ideas will be Trump's exclusive property. You agree to sign any
         documents which Trump deems necessary to confirm its ownership of
         those ideas, and you agree to otherwise cooperate with Trump in order
         to allow Trump to take full advantage of those ideas.

8.       You acknowledge that you have access to information which is
         proprietary and confidential to Trump. This information includes, but
         is not limited to, (1) the identity of customers and prospects, (2)
         names, addresses and phone numbers of individual contacts, (3) pricing
         policies, marketing strategies, product strategies and methods of
         operation, and (4) expansion plans, management policies and other
         business strategies and policies. You acknowledge and understand that
         this information must be maintained in strict confidence in order for
         Trump to protect its business and its competitive position in the
         marketplace. Accordingly, both during and after termination of your
         employment, you agree that you will not disclose any of this
         information for any purpose or remove materials containing this
         information from Trump's premises. Upon termination of your
         employment, you will immediately return to Trump all correspondence
         files, business card files, customer and prospect lists, price books,
         technical data, notes and other materials which contain any of this
         information, and you will not retain copies of those materials.


Francis X. McCarthy
April 17, 2000
Page Three

9.       You represent to Trump that there are no restrictions or agreements to
         which you are a party which would be violated by our execution of this
         Agreement and your employment hereunder.

10.      You hereby agree to comply with all of the rules, regulations, policies
         and/or procedures adopted by Trump during the term of this Agreement,
         as well as all applicable state, federal and local laws, regulations
         and ordinances.

11.      You hereby represent that you presently hold the New Jersey Casino
         Control Commission ("Commission") license required in connection with
         your employment hereunder and will take appropriate steps to renew said
         license in a timely manner.

12.      Prior to the Expiration Date, Trump may terminate your employment
         hereunder only under the following circumstances (herein referred to
         as "Cause"):

         (i)               Upon revocation by the Commission of your casino key
                           employee license and the exhaustion of all appeals
                           therefrom, or in the absence of an appeal, the
                           exhaustion of any appeal period from such action;

         (ii)              Your conviction of a crime under the law of any
                           jurisdiction which constitutes a disqualifying crime
                           described in N.J.S.A. 5:12-86;

         (iii)             You shall become permanently disabled and unable to
                           perform the essential functions of your position;

         (iv)              You die; or

         (v)               Any breach by you of your duty of trust to Trump,
                           such as theft by you from Trump or fraud committed by
                           you upon Trump.

         In the event of a termination pursuant to this paragraph, Trump shall
         pay to you your compensation under Section 2 hereof earned to the date
         of termination and shall have no further liability or obligation to you
         under this Agreement.


Francis X. McCarthy
April 17, 2000
Page Four

13.      You may terminate this Agreement upon written notice to Trump at any
         time following a Change of Control, which termination shall be
         effective on the thirtieth day after such notice. For purposes of this
         Paragraph, a Change in Control means (i) the acquisition of Trump or
         over thirty-five (35%) percent of THCR's common stock or equivalent
         limited partnership interests by an unrelated entity, or (ii) the sale
         or long-term lease of all or substantially all of the assets of Trump.
         In the event of a termination pursuant to this Paragraph, you will
         receive in a lump sum payment the full amount of the unpaid
         compensation payable pursuant to Paragraph 2 hereof through the
         Expiration Date and the restrictions contained in Paragraph 6 hereof
         shall be null and void.

14.      Trump shall indemnify, defend and hold you harmless, including the
         payment of reasonable attorney fees, if Trump does not directly provide
         your defense, from and against any and all claims made by anyone,
         including, but not limited to, a corporate entity, company, other
         employee, agent, patron or member of the general public with respect to
         any claim which asserts as a basis, any acts, omissions or other
         circumstances involving the performance of your employment duties
         hereunder unless such claim is based upon your gross negligence or any
         willful and/or wanton act.

15.      You represent that you are a citizen of the United States or that you
         possess the proper visa and/or work permits necessary to perform your
         functions hereunder.

16.      You acknowledge that it would be extremely difficult to measure the
         damages that might result from any breach by you of your promises in
         Sections 6, 7, and 8 of the Employment Contract and that a breach may
         cause irreparable injury to Trump which could not be compensated by
         money damages. Accordingly, Trump will be entitled to enforce this
         Employment Contract by obtaining a court order prohibiting you (and any
         others involved) from breaching this Agreement. If a court decides that
         any part of this Agreement is too broad, the court may limit that part
         and enforce it as limited.

17.      This Agreement shall be governed by and construed in accordance with
         the laws of the State of New Jersey and in any lawsuit involving this
         Agreement, I consent to the jurisdiction and venue of any state or
         federal court located in New Jersey. This Agreement represents the
         entire agreement between the parties, superceding all previous
         agreements and may not be modified, amended, extended or renewed
         without the written agreement of both parties.


Francis X. McCarthy
April 17, 2000
Page Five

         If the foregoing correctly sets forth our understanding, kindly sign
and return to me the duplicate copy of this letter enclosed herewith.

Very truly yours,

By:  Trump Hotels & Casino Resorts, Inc.
         General Partner

By: Trump Atlantic City Holding, Inc.
         General Partner

                                                 Agreed and Consented to:

BY:      /s/ Robert M. Pickus                    /s/ Francis X. McCarthy
         --------------------                    -----------------------------
         ROBERT M. PICKUS                        FRANCIS X. MCCARTHY
         Executive Vice President

                                                 May 16, 2000