EXHIBIT 10.26
January 9, 2003
Xxxxxx X. Xxxxx
[ADDRESS]
Re: Employment Agreement dated April 17, 2000 between Xxxxxx X. Xxxxx and Xxxxx
Hotels & Casino Resorts, Inc., Xxxxx Hotels & Casino Resorts Holdings, L.P.
and Xxxxx Atlantic City Associates (collectively "Xxxxx") (the "Agreement")
Dear Xx. Xxxxx:
This letter will confirm that the Agreement is hereby amended as set forth
below:
1. the Expiration Date is extended to December 31, 2006;
2. paragraph 2 is amended to reflect the annual base salary of $400,000; and
3. paragraph 3 is amended to state that commencing January 1, 2004 the annual
salary shall be increased at a rate not less than 5% per annum.
Except to the extent modified herein, you and Xxxxx hereby ratify the Agreement
and agree that all other terms, conditions and obligations contained therein
remain in full force and effect as stated in the Agreement.
Very truly yours,
/s/ XXXX X. XXXXX
---------------------------
XXXX X. XXXXX
Chief Operating Officer
Agreed and Consented to:
/s/ XXXXXX X. XXXXX
---------------------------
Xxxxxx X. Xxxxx
1/9/03
Date
