AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT TO EMPLOYMENT AGREEMENT is entered into this 3rd day of
April, 1998 by and between Casino Resource Corporation (the "Company") and Xxxx
X. Xxxxxx ("Xxxxxx").
WHEREAS, the Company and Pilger are parties to an Employment Agreement
dated May 20, 1996 (the "Existing Agreement") which provides for an Initial Term
expiring on July 19, 1999 and for automatic year-to-year renewals thereafter in
the absence of notice to the contrary;
WHEREAS, the Company desires to change the Initial Term of the Existing
Agreement to conform to the Company's fiscal year and accounting cycles, and to
refine the renewal provisions of the Existing Agreement.
NOW, THEREFORE, for and in consideration of the mutual promises and
convenants contained herein, and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, and intending to be
legally bound hereby, the parties agree as follows:
1. Paragraph III of the Existing Agreement is hereby amended to
read as follows:
This Employment Agreement shall commence on May 20, 1996 and expire on
September 30, 1999 unless sooner terminated as provided in this
Agreement. Unless either party elects to terminate this Agreement by
giving written notice to the other party on or before the Notice of
Termination Date (as defined in the next sentence), the term of this
Employment Agreement shall be deemed to have been automatically
extended for an additional period of one year commencing on the day
after the day when the then current term would have otherwise expired,
and the expiration date of the term of this Employment Agreement shall
be correspondingly changed to the next anniversary of the formerly
prevailing expiration date. For purposes of this Employment Agreement,
the term "Notice of Termination Date" shall mean the date which is one
(1) year before the then prevailing expiration date of this Employment
Agreement.
2. Except as modified by this Amendment, the Existing Agreement
shall remain in full force and effect in accordance with its
terms.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment the day and year first above written.
(1)
3. ATTEST: CASINO RESOURCE CORPORATION
____________________________________ ___________________________________
Xxxxxx Xxxxxxx, Secretary Xxxxxx X. Xxxxx, Vice-President
Witness:
SEAL
____________________________________ ___________________________________
Xxxx X. Xxxxxx
(2)