Preheat oven to 350°F (180°C). Spray an 8-inch square baking pan with baking spray with flour. Line pan with parchment paper, letting excess extend over all sides of pan.

In the bowl of a stand mixer fitted with the paddle attachment, beat butter, Marzipan, and sugar at medium speed until light and creamy, 2 to 3 minutes, stopping to scrape sides of bowl. Add eggs, one at time, beating well after each addition. Beat in extracts.

In a medium bowl, whisk together flour, baking powder, and salt. With mixer on low speed, gradually add flour mixture to butter mixture alternately with milk, beginning and ending with flour mixture, beating just until combined after each addition. Spoon two-thirds of batter (3 cups or 875 grams) into prepared pan. Dollop half of preserves onto batter in pan. Top with remaining batter. Dollop remaining preserves on top; using a wooden pick, gently swirl just the top layer of preserves, making sure to swirl preserves all the way to edges of pan. Sprinkle almonds on top.

Bake until a wooden pick inserted in center comes out clean, 1 hour and 10 minutes to 1 hour and 15 minutes, covering with foil during final 10 to 15 minutes of baking to prevent excess browning. Let cool in pan for 10 minutes. Using excess parchment as handles, remove from pan, and place on a wire rack. Serve warm or at room temperature.