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EXHIBIT 10.19
October 19, 1998
Xx. Xxxxxx X. Xxxxxxx
0000 Xxx Xxxx Xxxxxx Xxxxx
Xxxxxxxxxx, XX 00000
Dear Xx. Xxxxxxx:
Reference is made to the Second Amended and Restated Employment
Agreement, entered into as of October 1, 1995 (the "Employment Agreement"), by
and between Horseshoe Gaming, Inc., a Nevada corporation (the "Company"), and
you, as the "Employee". The Employment Agreement terminated in accordance with
Section 2 thereof on July 31, 1998. Either the Employee or Horseshoe Gaming,
L.L.C. (the "LLC") may exercise the respective options granted to them under
Section 12 of the Employment Agreement within 90 days after the termination of
the Employment Agreement. The LLC and you, as the Employee, hereby agree to
extend the term during which each of the Put Option (as defined in the
Employment Agreement) and the Call Option (as defined in the Employment
Agreement), as set forth in Section 12 thereof, may be exercised through, and
including, July 31, 1999 (the "Extended Term"). Other than as set forth in this
letter, the Employment Agreement shall not be deemed to have been modified.
Please indicate your acknowledgment and agreement with the foregoing by signing
in the space indicated below.
Sincerely,
HORSESHOE GAMING, INC.
By: ____________________________________
Xxxx X. Xxxxxx
Chief Executive Officer and Chairman
HORSESHOE GAMING, L.L.C.
By: Horseshoe Gaming, Inc., Manager
By: ____________________________________
Xxxx X. Xxxxxx
Chief Executive Officer and Chairman
ACKNOWLEDGED AND
ACCEPTED this __ day of October, 1998:
________________________________________________________________________________
Xx. Xxxxxx X. Xxxxxxx
