Heat oven to 350.
Place a 9-inch round cake dish on top of parchment paper.
Cut a round from the parchment paper that will fit the cake dish.
Butter the 9-inch round cake dish.
Then butter the parchment paper as well.
Pit the cherries and cut each one in half.
Arrange the halves cut-side-up on the bottom of the cake dish.
Combine 3/4 cup sugar, vanilla, 1 teaspoon almond extract and ½ cup water in a small saucepan.
Cook over medium-high heat until the mixture turns amber, about 15 minutes.
(Do not stir while the mixture is cooking but you may have to remove from heat occasionally and swirl the mixture).
Remove from heat immediately.
Ladle caramel sauce evenly and very quickly over the cherries in the cake dish.
In a medium bowl, combine flour and baking powder.
Set aside.
In another bowl, beat together the butter and remaining 3/4 cup sugar, 1 teaspoon almond extract and eggs.
Stir the flour mixture into the egg mixture.
Spread the batter evenly over the cherries and caramel sauce.
Bake for 30 to 45 minutes, or until cake is set and a toothpick inserted in center comes out clean.
Remove cake from oven and set on a cooling rack.
Run a knife around the sides to loosen edges.
Place a platter or large plate on top of the cake.
Invert the cake onto the platter.
If any of the cherry halves stick to the pan, lift them off carefully.
Then replace them on top of the cake.
This should not be refrigerated before serving.