AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT DATED SEPTEMBER 1, 2006
Exhibit
10.179
AMENDMENT
NO. 2 TO EMPLOYMENT AGREEMENT
DATED
SEPTEMBER 1, 2006
This
Amendment No. 2 to Employment Agreement (“EA”) is amending the Employment
Agreement that was entered into and signed on February 18, 2003, and amended
on
February 3, 2005, by and between Century Casinos, Inc., a Delaware corporation
and Mag. Xxxxx Xxxxxxxxxx (“Employee”), an Austrian citizen, as
follows:
A) |
The
following sentence shall be added to Section 2 (Duties of Employee):
“Employee shall plan, schedule and book all business travels at his
discretion.”
|
B) |
A
new Section 4.4 shall be added to read as follows: “Employer shall provide
pension insurance for the benefit of Employee (or Employee’s dependents in
case of death of Employee). The contract value of the pension insurance
shall be €500,000 (five hundred thousand Euros); it is expected that the
monthly cost to Employer for this pension insurance will be in the
range
of €1,500 to €2,500. In case any of the following Sections of the EA
becomes effective, Employee shall promptly receive the contract value
of
the pension insurance as a cash payment from the Company or Century:
5.1(a), 5.1(b), 5.3.”
|
C) |
Section
5.4 (Effective Date of Termination) has been amended in its entirety
to
read as follows: “Unless otherwise specified, the effective date of
termination, as used in this Section 5, shall be the date on which
(i)
Employee receives written notice of termination from the Company
and such
termination is not contested by Employee, or, if contested by Employee,
such termination has been found legally correct and there are no
further
possibilities for Employee to challenge such legal decision, or (ii)
Employee gives written notice of termination to the
Company.”
|
IN
WITNESS WHEREOF, Employer and Employee have duly
executed this Amendment No. 2 as of the day and year first above
written.
EMPLOYER EMPLOYEE:
CENTURY
CASINOS EUROPE GMBH:
/s/
Xxxxxxxxx Xxxxxxx
/s/
Xxxxx Xxxxxxxxxx
By:
Xx.
Xxxxxxxxx Xxxxxxx, By:
Mag. Xxxxx Xxxxxxxxxx
Geschäftsführer
FOR
CENTURY CASINOS, INC.
AND
THE
COMPENSATION COMMITTEE:
/s/
Xxxxxxxxx Xxxxxxxxxx
By: Mag.
Xxxxxxxxx Xxxxxxxxxx,
Director
and
Member of the Compensation Committee
/s/
Xxxxx Xxxxxxx
By: Xx.
Xxxxx
Xxxxxxx,
Director
and
Member of the Compensation Committee