AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT TO EMPLOYMENT AGREEMENT is entered into this 3rd day of
April, 1998 by and between Casino Resource Corporation (the "Company") and
Xxxx X. Xxxxxx ("Xxxxxx").
WHEREAS, the Company and Pilger are parties to an Employment Agreement
dated May 20, 1996 (the "Existing Agreement") which provides for an Initial
Term expiring on July 19, 1999 and for automatic year-to-year renewals
thereafter in the absence of notice to the contrary;
WHEREAS, the Company desires to change the Initial Term of the Existing
Agreement to conform to the Company's fiscal year and accounting cycles, and
to refine the renewal provisions of the Existing Agreement.
NOW, THEREFORE, for and in consideration of the mutual promises and
convenants contained herein, and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, and intending to be
legally bound hereby, the parties agree as follows:
1. Paragraph III of the Existing Agreement is hereby amended to read as
follows:
This Employment Agreement shall commence on May 20, 1996 and
expire on September 30, 1999 unless sooner terminated as provided
in this Agreement. Unless either party elects to terminate this
Agreement by giving written notice to the other party on or
before the Notice of Termination Date (as defined in the next
sentence), the term of this Employment Agreement shall be deemed
to have been automatically extended for an additional period of
one year commencing on the day after the day when the then
current term would have otherwise expired, and the expiration
date of the term of this Employment Agreement shall be
correspondingly changed to the next anniversary of the formerly
prevailing expiration date. For purposes of this Employment
Agreement, the term "Notice of Termination Date" shall mean the
date which is one (1) year before the then prevailing expiration
date of this Employment Agreement.
2. Except as modified by this Amendment, the Existing Agreement
shall remain in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment the day and year first above written.
ATTEST: CASINO RESOURCE CORPORATION
------------------------- -------------------------------
Xxxxxx Xxxxxxx, Secretary Xxxxxx X. Xxxxx, Vice-President
Witness:
SEAL
------------------------- ------------------------------
Xxxx X. Xxxxxx
