VIDEO LOTTERY TECHNOLOGIES, INC.
000 Xxxxxxxxx Xxxxxx Xxxxx. Suite 911
Atlanta, GA 30346
Tel. 404/000-0000
Fax 404/000-0000
January 21, 1997
Xxxxxxxx Xxxxxx
0000 Xxxxxxxxx Xxxxx
Xxx Xxxxx, XX 00000
RE: Amended Letter Agreement
Dear Xxxxx:
This letter will amend the letter agreement (the "Agreement") between you and
Video Lottery Technologies, Inc. dated January 16, 1995, as follows:
It is hereby agreed that the term of the Agreement is hereby extended for a
period of one (1) year from January 16, 1997 through January 15, 1998.
Except as hereinabove amended, the Agreement remains in full force and effect.
Please indicate your acceptance by signing one copy of this letter, retain the
other copy for your files.
Yours very truly,
VIDEO LOTTERY TECHNOLOGIES INC
Xxxxxxx X. Xxxxxxxx
President
ACCEPTED AND AGREED TO:
/S/
-----------------------------
Xxxxxxxx Xxxxxx
Dated: 1/25 , 1997
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VIDEO LOTTERY TECHNOLOGIES, INC.
000 Xxxxxxxxx Xxxxxx Xxxxx. Suite 911
Atlanta, GA 30346
Tel. 404/000-0000
Fax 404/000-0000
January 16, 1995
Xxxxxxxx Xxxxxx, Esq.
0000 Xxxxxx Xxxxx
Xxxx, XX 00000
Dear Xxxxx:
This will confirm our agreement concerning services to be rendered by you
as a consultant to Video Lottery Technologies, Inc. (the "Company").
It is agreed as follows:
1. The Company hereby retains you as a Consultant for a period of two (2)
years, from January 16, 1995 to January 15, 1997, to serve as the Chairman of
the Compliance Committee of the Company, and otherwise to provide advice and
assistance to the Company on matters of regulatory compliance and such other
matters as requested by the President and CEO of the Company. It is understood
that your services as a Consultant hereunder shall be separate and distinct from
your duties and responsibilities as a Director of the Company.
2. In consideration of your performing services as a Consultant hereunder,
the Company shall pay you an annual retainer fee of $75,000, payable monthly,
and shall also pay you at the rate of $1,000 per day for each day in which you
perform such services, plus reimbursement of your expenses incurred in
connection therewith, payable within fifteen (15) days after the end of each
month during which you perform such services. Such reimbursement of expenses
shall be in accordance with existing Company policies.
3. During the term hereof, you will use your best efforts, skill, knowledge
and experience in the performance of your services as a Consultant hereunder;
and you will not directly or indirectly maintain any business or financial
interests, or engage in any business or financial activities, or perform similar
type services as provided hereunder which conflict with the interests of the
Company. You also agree not to disclose, either during the term hereof or
thereafter, any unpublished or confidential proprietary information concerning
the business of the Company obtained by you hereunder.
Xx. Xxxxxx
January 16, 1995
Page 2
4. It is understood that you will be performing your services as a
Consultant hereunder as an independent contractor, and not as an agent or
employee of the Company. However, since you will also be serving as a Director
of the Company, and will be performing your duties as a Consultant at the
request and with the approval of the Board, your services hereunder will be
covered by the Company's directors' and officers' liability insurance, and the
indemnification provided by the Company to you as a Director will extend to your
activities as a consultant to the Company as well.
6. This agreement calls for your personal services and is not assignable by
you.
7. You or the Company may terminate this agreement, without penalty, at any
time and for any reason, upon ninety (90) days' prior written notice to the
other.
8. You hereby acknowledge that you have received and have read the
Company's Code of Conduct and agree to abide by its provisions.
If the foregoing correctly reflects our agreement, please so acknowledge
below where indicated and return one copy to me, retaining the original of this
letter for your files.
Sincerely,
/S/
X. Xxxxxxx Xxxxxxxxxxx
ACCEPTED AND AGREED TO:
/s/
-----------------------------
Xxxxxxxx Xxxxxx
Date: January 18, 1995
JSV/jjd
