AMENDED AND RESTATED OPTION AGREEMENTAmended and Restated Option Agreement • May 21st, 2014 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation • California
This Amended and Restated Option Agreement (“Agreement”), effective May 15, 2014 (the “Effective Date”), amends and restates in its entirety that certain Option Agreement effective September 14, 2012 (the "Original Option Agreement") by and between Lakes Kean Argovitz Resorts – California, LLC (the “Seller”) and Penn National Gaming Inc., or its assignee or nominee (“Buyer”). For purposes of this Agreement, Buyer and Seller shall be referred to herein as the “Parties,” and solely for purposes of the covenants set forth in Section 10(a)(i), (ii), (vi), (viii), and (ix), and Section 13 hereof, the term “Seller” shall include the members, owners, successors, and assigns of Lakes Kean Argovitz Resources – California, LLC, including Lakes Entertainment, Inc.
