WHG RESORTS & CASINOS INC.
0000 Xxxx Xxxx Xxxxx Xxxxxx
Xxxxxxxx, Xxxxxx Xxxx 00000
April 21, 1997
Xx. Xxxxx X. Xxxxxxx
0 Xxxxxxx Xxxxxx
Xxxxxxx, Xxxxxxxx
Xxxxxx Xxxx 00000
Dear Xx. Xxxxxxx:
Reference is made to your employment agreement dated October 27, 1996
with Xxxxxxxx Hospitality Group Inc. ("WHGI"). As you are aware, our parent
corporation, WMS Industries Inc., has announced its intention to spin off its
hotel & casino business to the stockholders of WMS Industries Inc., a
transaction which we expect to occur on or about April 21, 1997 (the
"Distribution Date").
This letter will confirm that it is our mutual intention that you will
serve as President and Chief Operating Officer of WHG Resorts & Casinos Inc.
(the "Company"), the new public company which results from the spin off
transaction, effective on the Distribution Date. In connection therewith, the
Company will pay you a salary at the rate of $50,000 per annum, payable in
accordance with the Company's customary payroll practices. You agree to devote
such time to the business of the Company that is reasonable to perform the
duties as its President and Chief Operating Officer. The term of your employment
by the Company pursuant to this letter shall coincide with the term of your
employment with WHGI under your existing employment agreement.
Very truly yours,
WHG RESORTS & CASINOS INC.
By: /s/ Xxxxx X. Xxxxxxxx
------------------------------
Name: Xxxxx X. Xxxxxxxx
Title: Chairman of the Board
ACCEPTED AND AGREED TO
this 21st day of April, 1997
/s/ Xxxxx X. Xxxxxxx
--------------------------------
XXXXX X. XXXXXXX
