TRUMP HOTELS & CASINO RESORTS FUNDING INC
AMENDMENT, DATED JANUARY 9, 2003, JOSEPH A. FUSCO'S EMPLOYEE AGREEMENT
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<TYPE>EX-10.38
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<DESCRIPTION>AMENDMENT, DATED JANUARY 9, 2003, JOSEPH A. FUSCO'S EMPLOYEE AGREEMENT
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<TITLE>AMENDMENT, DATED JANUARY 9, 2003, JOSEPH A. FUSCO'S EMPLOYEE AGREEMENT</TITLE>
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  <p align=right><font size="2" face="Times New Roman"><b><u>EXHIBIT 10.38</u></b></font></p> <p> <font size="2" face="Times New Roman">January 9, 2003</font></p> <p> <font size="2" face="Times New Roman">Joseph A.
Fusco<br> [ADDRESS]</font></p>
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<td width="4%" valign="top"> <p> <font size="2" face="Times New Roman"><b>Re:</b></font></p> </td>
<td width="96%" valign="top"> <p> <font size="2" face="Times New Roman"><b>Employment Agreement dated April 17, 2000 between Joseph A. Fusco and Trump Hotels &amp; Casino Resorts, Inc., Trump Hotels &amp; Casino Resorts Holdings, L.P. and Trump
Atlantic City Associates (collectively &#147;Trump&#148;) (the &#147;Agreement&#148;)</b></font></p> </td> </tr> </table> <p> <font size="2" face="Times New Roman">Dear Mr. Fusco:</font></p> <p> <font size="2" face="Times New Roman">This letter will
confirm that the Agreement is hereby amended as set forth below:</font></p>
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<td width="4%" valign="top"> <p> <font size="2" face="Times New Roman">1.</font></p> </td>
<td width="95%" valign="top"> <p> <font size="2" face="Times New Roman">the Expiration Date is extended to December 31, 2006;</font></p> </td> </tr>
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<td width="4%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td width="95%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td> </tr>
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<td width="4%" valign="top"> <p> <font size="2" face="Times New Roman">2.</font></p> </td>
<td width="95%" valign="top"> <p> <font size="2" face="Times New Roman">paragraph 2 is amended to reflect the annual base salary of $400,000; and</font></p> </td> </tr>
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<td width="4%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td width="95%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td> </tr>
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<td width="4%" valign="top"> <p> <font size="2" face="Times New Roman">3.</font></p> </td>
<td width="95%" valign="top"> <p> <font size="2" face="Times New Roman">paragraph 3 is amended to state that commencing January 1, 2004 the annual salary shall be increased at a rate not less than 5% per annum.</font></p> </td> </tr> </table> <p>
<font size="2" face="Times New Roman">Except to the extent modified herein, you and Trump hereby ratify the Agreement and agree that all other terms, conditions and obligations contained therein remain in full force and effect as stated in the
Agreement.</font></p>
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<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">Very truly yours,</font></p> </td> </tr>
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<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td> </tr>
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<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td align="Left" width="25%" valign="top"> <p align="center"> <font size="2" face="Times New Roman">/s/ M<small>ARK</small> A. B<small>ROWN</small></font></p> </td>
<td align="Left" width="25%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td> </tr>
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<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td align="Left" width="25%" valign="top"> <hr size="1" width="100%" noshade color=black> </td>
<td align="Left" width="25%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td> </tr>
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<td align="Left" width="25%" valign="top"> <p align="center"> <font size="1" face="Times New Roman"><b>MARK A. BROWN</b></font></p> </td>
<td align="Left" width="25%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td> </tr>
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<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td align="Left" width="25%" valign="top"> <p align="center"> <font size="1" face="Times New Roman"><b>Chief Operating Officer</b></font></p> </td>
<td align="Left" width="25%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td> </tr>
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<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td> </tr>
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<td width="50%" colspan="2" valign="top"> <p> <font size="2" face="Times New Roman">Agreed and Consented to:</font></p> </td>
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<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
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<td align="Left" width="25%" valign="top"> <p align="center"> <font size="2" face="Times New Roman">/s/ J<small>OSEPH</small> A. F<small>USCO</small></font></p> </td>
<td align="Left" width="25%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td> </tr>
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<td align="Left" width="25%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
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<td align="Left" width="25%" valign="top"> <p align="center"><font size="1" face="Times New Roman"><b>Joseph A. Fusco</b></font></p> </td>
<td align="Left" width="25%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
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<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman">1/9/03<br> Date</font></p> </td>
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