THIRD AMENDMENT TO MANAGEMENT AGREEMENT
Exhibit 8.17
THIRD AMENDMENT TO MANAGEMENT AGREEMENT
THIS THIRD AMENDMENT TO MANAGEMENT AGREEMENT effective September 1, 2001 amends that
certain Management Agreement dated as of December 1, 1997, between Retama Development Corporation
having an office at 0 Xxxxxx Xxxxxxx, Xxxxx, Xxxxx 00000 (“Owner”), Retama Partners, Ltd. having an
office at 0000 Xxxxx Xxxxx, Xxx Xxxxxxx, Xxxxx 00000 (“License Holder”), and Retama Entertainment
Group, Inc., a Texas Limited Liability Corporation, having an office at 0 Xxxxxx Xxxxxxx, Xxxxx,
Xxxxx 00000 (“Operator”).
The Management Agreement is hereby amended as follows:
1. Section 4 of the Second Amendment to Management Agreement shall be deleted.
2. Section 6.2 of the Agreement shall be deleted and replaced with the following:
“6.2 The annual Variable Management Fee shall be in the amount of three-tenths of one percent
(.3%) of total Handle of the Racetrack in excess of $100,000,000; provided, however, that the
amount payable for the Variable Management Fee for any year shall not exceed 25% of total Fixed
Management Fees.”
All other provisions of the Management Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the day
and year above written.
OWNER: | ||||||
RETAMA DEVELOPMENT CORPORATION | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
OPERATOR: | ||||||
RETAMA ENTERTAINMENT GROUP | ||||||
By: | ||||||
Name: | ||||||
Title: |