EXHIBIT 10.24
SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT, is made and entered into
as of the 8th day of January 2003, by and between MIKOHN GAMING CORPORATION
("MIKOHN") and XXXX XXXXXXX ("Employee").
W I T N E S S E T H:
WHEREAS, MIKOHN and Employee deem it to be in their respective best
interests to amend that certain Employment Agreement entered into as of August
31, 1998, as amended, between MIKOHN and Employee (the "Agreement").
NOW, THEREFORE, in consideration of the premises and the mutual promises
and agreements contained herein, it is hereby agreed as follows:
1. The following provision shall be added to the Agreement as Section
6.11:
Any other provision in this Agreement to the contrary
notwithstanding, in the event Employee is terminated without cause,
all stock options granted to Employee shall remain in full force
and effect.
2. The following provision shall be added to the Agreement as
Section 11.6:
Any other provision in this Agreement to the contrary
notwithstanding, in the event Employee is terminated without cause
after any change in ownership of MIKOHN, the provisions in this
Section 11 shall not apply and shall have no force or effect. For
purposes of this Agreement, "change in ownership" means: (1) a
merger or consolidation where MIKOHN is not the surviving
corporation, (2) a transfer of all or substantially all of the
assets of MIKOHN, or (3) a voluntary or involuntary dissolution of
MIKOHN.
IN WITNESS WHEREOF, the parties hereto have read, understood, and
voluntarily executed this Second Amendment to Employment Agreement as of the
day and year first above written.
EMPLOYEE MIKOHN GAMING CORPORATION
______________________________ By:__________________________
XXXX XXXXXXX
Title:_______________________
Date:________________________ Date:________________________
