Churchill Downs, Incorporated Letter Agreement March 9, 2009 Vernon Niven [Address Removed] Dear Vernon:Letter Agreement • May 6th, 2009 • Churchill Downs Inc • Services-racing, including track operation • Kentucky
In order to induce you to remain in your current position with Churchill Downs Incorporated (the “Company”) to facilitate the transition of the Company’s business and affairs, the Company will pay you a retention bonus (the “Retention Bonus”) if you remain employed with the Company through June 7, 2009 (the “Termination Date”), subject to the terms and conditions outlined below. The amount of the Retention Bonus will be $75,000, less any applicable withholding and deductions.
