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EXHIBIT 10.10
EMPLOYMENT AGREEMENT AMENDMENT
This Employment Agreement Amendment ("Amendment") is entered into as
of January 15, 1997 by and between Xxxxxx X. Xxxxxxxxx of 0000 Xxxxxxxxx Xxxxxxx
Xxxxx, Xxxx Xxxxxx, Xxxxxx ("Employee") and Acres Gaming Inc., a Nevada
corporation ("Employer").
RECITALS
A. Employer and Employee entered into an Employment Agreement dated as
of January 2, 1996 (the "Employment Agreement").
B. The parties hereto wish to amend that Employment Agreement as set
forth below.
AGREEMENT
In consideration of the mutual promises and agreements hereinafter set
forth, Employer and Employee hereby agree as follows:
1. The first sentence of the first paragraph of Section 4 of the
Employment Agreement is hereby amended to read as follows:
"Employer shall pay Employee, and Employee shall accept from
Employer, in full payment for all of Employee's services hereunder,
an annual base salary of Two Hundred Twenty-Five Thousand and
No/100 Dollars ($225,000.00)."
2. The second paragraph of Section 4 of the Employment Agreement is
hereby amended to read as follows:
"In addition to the aforementioned base salary, the Employer may,
but is not required to, pay Employee a performance bonus. The
amount of any performance bonus shall be determined by the Board of
Directors."
IN WITNESS WHEREOF, the parties have executed this Agreement in
Corvallis, Oregon as of the date first above written.
EMPLOYEE:
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Xxxxxx X. Xxxxxxxxx
EMPLOYER:
ACRES GAMING INC.
By:
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Xxxx X. Acres
Chairman and Chief Executive Officer
