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                               GENESEE CORPORATION
                                AND SUBSIDIARIES



                                   EXHIBIT 10

                        AMENDMENT OF EMPLOYMENT AGREEMENT
                        ---------------------------------



         This AMENDMENT made as of this 13th day of November, 2003 (the
"AMENDMENT DATE") shall modify and amend the Employment Agreement by and between
GENESEE CORPORATION (the "COMPANY") and STEVEN M. MORSE (the "EXECUTIVE") dated
December 15, 2002, as amended by Amendment of Employment Agreement dated May 4,
2003 (collectively, the "AGREEMENT").

         WHEREAS, the Company and the Executive wish to amend certain terms of
the Agreement as set forth herein;

         NOW, THEREFORE, the parties agree to amend the Agreement as follows:

         1.       TERM.  Section 2 of the Agreement is hereby deleted in its
entirety and replaced with the following:

                  "The term of the Executive's employment under this Agreement
                  shall expire on April 30, 2004."

         2.       SURVIVAL OF THE AGREEMENT.  Except as amended by this
Amendment, the Agreement shall remain in full force and effect in accordance
with the terms thereof.

         3.       MISCELLANEOUS.  This Amendment is governed by the internal
laws of the State of New York.  All references in the Agreement to the
Agreement shall mean the Agreement as modified by this Amendment.

         IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the Amendment Date.


                                 GENESEE CORPORATION

                                 By: /s/ Stephen B. Ashley
                                     ------------------------------
                                     Stephen B. Ashley, President


                                 /s/ Steven M. Morse
                                 -----------------------------------
                                 Steven M. Morse