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EXHIBIT 10.1    
    

THIS FIRST AMENDING AGREEMENT, made as of the 1st day of February, 2006. 

B
E T W E E N : 

MAGNA ENTERTAINMENT CORP.,

a corporation incorporated under the laws of the State of Delaware

(hereinafter called the "Borrower"), 

        OF
THE FIRST PART, 

— and — 

MID ISLANDI SF.,

a partnership formed under the laws of Iceland, acting through its Zug branch

(hereinafter called the "Lender"), 

        OF
THE SECOND PART, 

— and — 

MEC PENNSYLVANIA RACING, INC.,

a corporation incorporated under the laws of the Commonwealth of Pennsylvania, 

— and —

WASHINGTON TROTTING ASSOCIATION, INC.,

a corporation incorporated under the laws of the State of Delaware, 

— and — 

MOUNTAIN LAUREL RACING, INC.,

a corporation incorporated under the laws of the State of Delaware

(hereinafter collectively called "The Meadows Guarantors"), 

        OF
THE THIRD PART, 

 
— and — 

PACIFIC RACING ASSOCIATION,

a corporation incorporated under the laws of the State of California, 

— and —

MEC LAND HOLDINGS (CALIFORNIA) INC.,

a corporation incorporated under the laws of the State of California

(hereinafter collectively called the "Golden Gate Fields Guarantors"), 

        OF
THE FOURTH PART, 

— and —

THE SANTA ANITA COMPANIES, INC.,

a corporation incorporated under the laws of the State of Delaware,

— and — 

LOS ANGELES TURF CLUB, INCORPORATED,

a corporation incorporated under the laws of the State of California

(hereinafter collectively called the "Santa Anita Guarantors"), 

        OF
THE FIFTH PART, 

— and —

GULFSTREAM PARK RACING ASSOCIATION, INC.

a corporation incorporated under the laws of the State of Florida

(hereinafter called the "Gulfstream Guarantor"), 

        OF
THE SIXTH PART, 

2

 
— and — 

GPRA THOROUGHBRED TRAINING CENTER INC.,

a corporation incorporated under the laws of the State of Delaware

(hereinafter called the "Palm Meadows Training Guarantor"), 

        OF
THE SEVENTH PART, 

— and —

SLRD THOROUGHBRED TRAINING CENTER, INC.,

a corporation incorporated under the laws of the State of Delaware

(hereinafter called the "San Luis Rey Downs Guarantor"), 

        OF
THE EIGHTH PART, 

— and —

MEC DIXON, INC.,

a corporation incorporated under the laws of the State of Delaware

(hereinafter called the "Dixon Guarantor"), 

        OF
THE NINTH PART, 

— and —

SUNSHINE MEADOWS RACING INC.

a corporation incorporated under the laws of the State of Delaware

(hereinafter called the "Ocala Guarantor") (The Meadows Guarantors, the Golden Gate Fields Guarantors, the Santa Anita Guarantors, the Gulfstream
Guarantor, the Palm Meadows Training Guarantor, the San Luis Rey Downs Guarantor, the Dixon Guarantor and the Ocala Guarantor hereinafter collectively called the "Original
Guarantors"), 

        OF
THE TENTH PART. 

3

 
— and — 

OTL, INC.,

a corporation incorporated under the laws of the State of New York 

— and —

DLR, INC.,

a corporation incorporated under the laws of the State of New York

(hereinafter collectively called the "New York Lands Guarantors"), 

        OF
THE ELEVENTH PART. 

— and — 

PALM MEADOWS ESTATES, LLC,

a corporation incorporated under the laws of the State of Delaware

(hereinafter called the "Palm Meadows Residential Guarantor"), 

        OF
THE TWELFTH PART. 

— and — 

THISTLEDOWN, INC.

a corporation incorporated under the laws of the State of Ohio

(hereinafter called the "Thistledown Guarantor", and together with the New York Lands Guarantors and the Palm Meadows Residential Guarantors, the
"Additional Guarantors"), 

        OF
THE THIRTEENTH PART. 

        WHEREAS
the Lender, as lender; the Borrower, as borrower; and the Original Guarantors, as guarantors, are parties to a bridge loan agreement made as of July 22, 2005
(the "Original Bridge Loan Agreement"), as supplemented and amended by a bridge loan consent and waiver agreement made as of October 14,
2005 (the "Bridge Loan Consent and Waiver Agreement") (the Original Bridge Loan Agreement, as so amended, being referred to herein as the
"Bridge Loan Agreement"); 

4

 

        AND WHEREAS the Sales Milestones (as defined in the Bridge Loan Consent and Waiver Agreement) have not been met as of the date
hereof and, as a consequence: (i) the San Luis Rey Downs Guarantor and the Dixon Guarantor have granted to the Lender, as of the date hereof, the Additional Mortgage Security (as defined
in the Bridge Loan Consent and Waiver Agreement) in respect of the San Luis Rey Downs Property and the Dixon Property; (ii) the Borrower has, as of the date hereof, paid guarantee fees to the
Additional Guarantors to induce them to guarantee, in favour of the Lender, the Obligations under the Bridge Loan Agreement and to grant security for such guarantees; and (iii) the Additional
Guarantors have guaranteed the Obligations under the Bridge Loan Agreement and, as security for such guarantees, have granted to the Lender, as of the date hereof, the Additional Mortgage Security
(as defined in the Bridge Loan Consent and Waiver Agreement) in respect of the Palm Meadows Residential Property, and the New York lands and the Thistledown lands referenced on
Schedule A to the Bridge Loan Consent and Waiver Agreement; 

        AND WHEREAS the Lender, the Borrower, the Original Guarantors and the Additional Guarantors (the Original Guarantors and the
Additional Guarantors being collectively referred to herein as the "Guarantors ") have agreed to amend the Bridge Loan Agreement in certain respects as
set out herein; 

        NOW THEREFORE, in consideration of the mutual covenants and agreements set forth in this Agreement and the sum of Ten Dollars ($10.00)
paid by each of the parties hereto to the other and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto covenant and
agree as follows: 

	1.
	Definitions.    Unless otherwise defined herein, all capitalized terms used in this agreement
(this "Agreement") shall have the respective meanings ascribed to them in the Bridge Loan Agreement.

	2.
	Representations and Warranties.    The Borrower and the Guarantors jointly and severally
represent and warrant to and in favour of the Lender, with the intent that the Lender shall be entitled to rely upon such representations and warranties in entering into this Agreement and
notwithstanding the completion of the transactions contemplated herein, that: (i) all of the recitals to this Agreement are true and complete in all material respects; and (ii) there are
no facts, conditions or circumstances that are known to the Borrower or any of the Guarantors and that may reasonably be considered relevant to the Lender's decision to enter into this Agreement that
have not been disclosed in writing to the Lender. 

        Further,
the Borrower and the Guarantors hereby covenant and agree that all of the representations, warranties and covenants contained in the Bridge Loan Agreement in respect of the
Mortgaged Properties (as defined in the Original Bridge Loan Agreement) apply to the Additional Properties to be Mortgaged (as defined in the Bridge Loan Consent and Waiver Agreement),  mutatis
mutandis, as if they had been given as of the date of the Original Bridge Loan Agreement and, for greater certainty, but without in any way
limiting the generality of the foregoing, the Additional Properties to be Mortgaged are: (i) unencumbered by any Liens (except Permitted Encumbrances); and (ii) not the subject matter of
any negative pledge given by any owner thereof (except the Negative Pledge or any other negative pledge given to the Lender). 

5

 
	3.
	Additional Guarantors.    The New York Lands Guarantors, the Palm Meadows Residential
Guarantor and the Thistledown Guarantor are hereby joined as parties to the Bridge Loan Agreement.

	4.
	Amendments.    The Bridge Loan Agreement is hereby amended as follows:

	(a)
	by
adding in proper alphabetical order the following definition of "Additional Assignments of Material Agreements" to
Section 1.1 of the Bridge Loan Agreement: ""Additional Assignments of Material Agreements" means, collectively; (i) a first general
assignment, dated January 26, 2006, of the Dixon Guarantor's interest in the Material Agreements relating to the Dixon Property, where permitted; provided that if the assignment of any such
Material Agreements is not permitted, the Dixon Guarantor shall use its commercially reasonable efforts to obtain all consents and waivers necessary to assign to the Lender such Material Agreement and
if such consents and waivers are not obtained, such Material Agreement shall be held by the Dixon Guarantor for the benefit of and in trust for the Lender; (ii) a first general assignment,
dated January 26, 2006, of the San Luis Rey Downs Guarantor's interest in the Material Agreements relating to the San Luis Rey Downs Property, where permitted; provided that if the assignment
of any such Material Agreements is not permitted, the San Luis Rey Downs Guarantor shall use its commercially reasonable efforts to obtain all consents and waivers necessary to assign to the Lender
such Material Agreement and if such consents and waivers are not obtained, such Material Agreement shall be held by the San Luis Rey Downs Guarantor for the benefit of and in trust for the Lender;
(iii) a first general assignment, dated January 26, 2006, of the New York Lands Guarantors' interest in the Material Agreements relating to the New York Lands Property,
where permitted; provided that if the assignment of any such Material Agreements is not permitted, the New York Lands Guarantors shall use their commercially reasonable efforts to obtain all
consents and waivers necessary to assign to the Lender such Material Agreement and if such consents and waivers are not obtained, such Material Agreement shall be held by the New York Lands
Guarantors for the benefit of and in trust for the Lender; (iv) a first general assignment, dated January 26, 2006, of the Palm Meadows Residential Guarantor's interest in the Material
Agreements relating to the Palm Meadows Residential Property, where permitted; provided that if the assignment of any such Material Agreements is not permitted, the Palm Meadows Residential Guarantor
shall use its commercially reasonable efforts to obtain all consents and waivers necessary to assign to the Lender such Material Agreement and if such consents and waivers are not obtained, such
Material Agreement shall be held by the Palm Meadows Residential Guarantor for the benefit of and in trust for the Lender; and (v) a first general assignment, dated January 26, 2006, of
the Thistledown Guarantor's interest in the Material Agreements relating to the Thistledown Property, where permitted; provided that if the assignment of any such Material Agreements is not permitted,
the Thistledown Guarantor shall use its commercially reasonable efforts to obtain all consents and waivers necessary to assign to the Lender such Material Agreement and if such consents and waivers
are not obtained, such Material Agreement shall be held by the Thistledown Guarantor for the benefit of and in trust for the Lender;"; 

6

 

	(b)
	by
adding in proper alphabetical order the following definition of "Additional Assignments of Rents and Leases" to Section 1.1
of the Bridge Loan Agreement: ""Additional Assignments of Rents and Leases" means, collectively; (i) a first priority assignment of rents and
leases generated by the use and occupancy of Dixon Property pursuant to an assignment of rents and lessor's interest in the Occupancy Agreements relating to the Dixon Property dated January 26,
2006 from the Dixon Guarantor to the Lender; (ii) a first priority assignment of rents and leases generated by the use and occupancy of San Luis Rey Downs Property pursuant to an assignment of
rents and lessor's interest in the Occupancy Agreements relating to the San Luis Rey Downs Property dated January 26, 2006 from the San Luis Rey Downs Guarantor to the Lender; (iii) a
first priority assignment of rents and leases generated by the use and occupancy of New York Lands Property pursuant to an assignment of rents and lessor's interest in the Occupancy Agreements
relating to the New York Lands Property dated January 26, 2006 from the New York Lands Guarantor to the Lender; (iv) a first priority assignment of rents and leases
generated by the use and occupancy of Palm Meadows Residential Property pursuant to an assignment of rents and lessor's interest in the Occupancy Agreements relating to the Palm Meadows Residential
Property dated January 26, 2006 from the Palm Meadows Residential Guarantor to the Lender; and (v) a first priority assignment of rents and leases generated by the use and occupancy of
Thistledown Property pursuant to an assignment of rents and lessor's interest in the Occupancy Agreements relating to the Thistledown Property dated January 26, 2006 from the Thistledown
Guarantor to the Lender;";

	(c)
	by
adding in proper alphabetical order the following definition of "Additional General Security Agreements" to Section 1.1 of
the Bridge Loan Agreement: ""Additional General Security Agreements" means, collectively; (i) a perfected first priority Lien, dated
January 26, 2006, in all personal property of the Dixon Guarantor now owned and hereafter acquired (excluding licenses and permits), in each case to the extent permitted by Applicable Law, and
a negative pledge in respect of all such personal property (excluding licenses and permits), pursuant to a general security agreement, dated January 26, 2006, from the Dixon Guarantor to the
Lender; (ii) a perfected first priority Lien, dated January 26, 2006, in all personal property of the San Luis Rey Downs Guarantor now owned and hereafter acquired (excluding licenses
and permits), in each case to the extent permitted by Applicable Law, and a negative pledge in respect of all such personal property (excluding licenses and permits), pursuant to a general security
agreement, dated January 26, 2006, from the San Luis Rey Downs Guarantor to the Lender; (iii) a perfected first priority Lien, dated January 26, 2006, in all personal property of
the New York Lands Guarantors now owned and hereafter acquired (excluding licenses and permits), in each case to the extent permitted by Applicable Law, and a negative pledge in respect of all
such personal property (excluding licenses and permits), pursuant to a general security agreement, dated January 26, 2006, from the New York Lands Guarantors to the Lender; (iv) a
perfected first priority Lien, dated January 26, 2006, in all personal property of the Palm Meadows Residential Guarantor now owned and hereafter acquired (excluding licenses and permits), in
each case to the extent permitted by Applicable Law, and a negative pledge in respect of all such personal property (excluding licenses and permits), pursuant to a general security agreement, dated
January 26, 2006, from the Palm Meadows Residential Guarantor to the Lender; and (v) a perfected first priority Lien, dated January 26, 2006, in all personal property of the
Thistledown Guarantor now owned and hereafter acquired (excluding licenses and permits), in each case to the extent permitted by Applicable Law, and a negative pledge in respect of all such personal
property (excluding licenses and permits), pursuant to a general security agreement, dated January 26, 2006, from the Thistledown Guarantor to the Lender;"; 

7

 

	(d)
	by
adding in proper alphabetical order the following definition of "Additional Mortgages" to Section 1.1 of the Bridge Loan
Agreement: ""Additional Mortgages" means, collectively; (i) a perfected first priority Lien on the Dixon Property pursuant to a mortgage dated
January 26, 2006 from the Dixon Guarantor in favour of the Lender; (ii) a perfected first priority Lien on the San Luis Rey Downs Property pursuant to a mortgage dated January 26,
2006 from the San Luis Rey Downs Guarantor in favour of the Lender; (iii) a perfected first priority Lien on the New York Lands Property pursuant to a mortgage of dated
January 26, 2006 from the New York Lands Guarantors in favour of the Lender; (iv) a perfected first priority Lien on the Palm Meadows Residential Property pursuant to a mortgage
dated January 26, 2006 from the Palm Meadows Residential Guarantor in favour of the Lender; (v) a perfected first priority Lien on the Thistledown Property pursuant to a mortgage dated
January 26, 2006 from the Thistledown Guarantor in favour of the Lender;";

	(e)
	by
adding in proper alphabetical order the following definition of "Additional Mortgaged Properties" to Section 1.1 of the
Bridge Loan Agreement: ""Additional Mortgaged Properties" means, the Dixon Property, the San Luis Rey Downs Property, the Palm Meadows Residential
Property, the New York Lands Property and the Thistledown Property"; 

8

 

	(f)
	by
adding in proper alphabetical order the following definition of "Additional Security" to Section 1.1 of the Bridge Loan
Agreement: ""Additional Security" means, collectively, the Additional Mortgages, the Additional Assignments of Rents and Leases, the Additional
Assignments of Material Agreements and the Additional General Security Agreements, and such other assignments, mortgages, security agreements, indemnities and undertakings relating to the Additional
Mortgaged Properties and other documentation in support thereof as the Lender and its counsel shall reasonably require;";

	(g)
	by
deleting in its entirety the definition of "Guarantors" in Section 1.1 of the Bridge Loan Agreement and replacing it with the
following: "Guarantors" means, collectively, The Meadows Guarantors, the Golden Gate Fields Guarantors, the Santa Anita Guarantors, the Gulfstream
Guarantor, the Palm Meadows Training Guarantor, the San Luis Rey Downs Guarantor, the Dixon Guarantor, the Ocala Guarantor, the New York Lands Guarantors, the Palm Meadows Residential
Guarantor; and the Thistledown Guarantor and, in the singular, any one of them;";

	(h)
	by
deleting in its entirety the definition of "Mortgaged Properties" in Section 1.1 of the Bridge Loan Agreement and replacing
it with the following: ""Mortgaged Properties" means, collectively, the Golden Gate Fields Property, The Meadows Property, the Santa Anita Property, the
Dixon Property, the New York Lands Property, the Palm Meadows Residential Property, the San Luis Rey Downs Property, and the Thistledown Property and, in the singular, any one of them;";

	(i)
	by
adding in proper alphabetical order the following definition of "New York Lands Guarantors" to Section 1.1 of the
Bridge Loan Agreement: ""New York Lands Guarantors" means, collectively, OTL, Inc. and DLR, Inc., and "New York Lands
Guarantor" mean any one of them;";

	(j)
	by
adding in proper alphabetical order the following definition of "New York Lands Property" to Section 1.1 of the Bridge
Loan Agreement: ""New York Lands Property" means the lands and premises designated as the New York Lands Property in Schedule C
hereto;";

	(k)
	by
adding in proper alphabetical order the following definition of "Palm Meadows Residential Guarantor" to Section 1.1 of the
Bridge Loan Agreement: ""Palm Meadows Residential Guarantor" means Palm Meadows Estates, LLC;"; 

9

 

	(l)
	by
adding in proper alphabetical order the following definition of "Thistledown Guarantor" to Section 1.1 of the Bridge Loan
Agreement: ""Thistledown Guarantor" means Thistledown, Inc.;";

	(m)
	by
adding in proper alphabetical order the following definition of "Thistledown Property" to Section 1.1 of the Bridge Loan
Agreement: ""Thistledown Property" means the lands and premises designated as the Thistledown Property in Schedule C hereto;";

	(n)
	by
deleting the last sentence of Section 8.1(h) of the Bridge Loan Agreement, beginning with the words "The security" and ending with the words "herein called the "Security"
and replacing it with the following: "At all times after February1, 2006, the security set out above in this Section 8.1(h) (except the Borrower Note), together with the Additional Security, is
herein called the "Security;";

	(o)
	by
adding the following to Section 10.6(a) of the Bridge Loan Agreement, immediately prior to the words "with a copy to:" i 

"Thistledown, Inc.,

21501 Emery Road

Cleveland, Ohio 44128 

Attention:
General Manager

Facsimile number 216.662.8248 

DLR, Inc.,
OTL, Inc., and/or Palm Meadows Estates, LLC

c/o Magna Entertainment Corp.

337 Magna Drive

Aurora, Ontario

L4G 7K1 

Attention:
Chief Financial Officer, Finance 

Fax:
905.726.2585"; and 

	(p)
	by
deleting Schedule C (and the Exhibits attached thereto) to the Bridge Loan Agreement and replacing it with the revised Schedule C (and the Exhibits
attached thereto) attached hereto as Exhibit "1".

	5.
	Confirmation of Amended Bridge Loan Agreement.    The Bridge Loan Agreement, as amended by this
Agreement, is hereby ratified and confirmed in all respects and time shall remain of the essence. After the date hereof, all references in each Loan Document to the Credit Agreement or Loan Agreement
shall be deemed to be a reference to the Bridge Loan Agreement as amended by this Agreement. 

10

 
	6.
	Successors and Assigns.    This Agreement shall enure to the benefit of and shall be binding on
and enforceable by the parties hereto and their respective successors and permitted assigns.

	7.
	Governing Law.    This Agreement shall be governed by and construed in accordance with the laws
of the State of New York and the federal laws of the United States of America applicable herein.

	8.
	Time of the Essence.    Time shall be of the essence of this Agreement. If anything herein is to
be done on a day which is not a Business Day, the same shall be done on the next succeeding Business Day. Where in this Agreement a number of days is prescribed, the number shall be computed by
excluding the first day and including the last day.

	9.
	Headings, Extended Meanings.    The headings in this Agreement are inserted for convenience of
reference only and shall not constitute a part hereof and are not to be considered in the interpretation hereof. In this Agreement, words importing the singular include the plural and  vice versa; words
importing the masculine gender include the feminine and vice versa; and words
importing persons include firms or corporations and vice versa.

	10.
	Counterparts.    This Agreement may be executed in counterparts and may be delivered by
e-mail and/or facsimile transmission. 

        IN
WITNESS WHEREOF, the parties hereto have executed this Agreement or have caused the same to be executed by their duly authorized representatives as of the date first above written. 

11

  

	 	 	MAGNA ENTERTAINMENT CORP., as Borrower
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.
	
 	
 	
MEC PENNSYLVANIA RACING, INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.

12

 

	 	 	WASHINGTON TROTTING ASSOCIATION, INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.
	
 	
 	
MOUNTAIN LAUREL RACING, INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.

13

 

	 	 	PACIFIC RACING ASSOCIATION
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.
	
 	
 	
MEC LAND HOLDINGS (CALIFORNIA) INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.

14

 

	 	 	THE SANTA ANITA COMPANIES, INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.
	
 	
 	
LOS ANGELES TURF CLUB, INCORPORATED
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.

15

 

	 	 	GULFSTREAM PARK RACING ASSOCIATION, INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.
	
 	
 	
SLRD THOROUGHBRED TRAINING CENTER, INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.

16

 

	 	 	MEC DIXON, INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.
	
 	
 	
GPRA THOROUGHBRED TRAINING CENTER, INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.

17

 

	 	 	SUNSHINE MEADOWS RACING INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.
	
 	
 	
OTL, INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.

18

 

	 	 	DLR, INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.
	
 	
 	
PALM MEADOWS ESTATES, LLC
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.

19

 

	 	 	THISTLEDOWN, INC.
	
 	
 	

by	

/s/  BLAKE TOHANA      
 Name: Blake Tohana

Title: Executive Vice President

          and Chief Financial Officer
	
 	
 	

 	

/s/  MARY LYN SEYMOUR      
 Name: Mary Lyn Seymour

Title: Controller
	
 	
 	

 	

We have authority to bind the Corporation.
	
 	
 	
MID ISLANDI SF., ACTING THROUGH ITS ZUG BRANCH
	
 	
 	

by	

/s/  THOMAS SCHULTHEISS      
 Name: Thomas Schultheiss

Title: Branch Manager
	
 	
 	

 	

/s/  HERTA KESSLER      
 Name: Herta Kessler

Title: Branch Manager
	
 	
 	

 	

We have authority to bind the Partnership.

20

 
 

EXHIBIT "1"
  
    SCHEDULE C
  
    Properties and Prior Mortgages    
    

1.     Golden Gate Fields Property  

Owner:
MEC Land Holdings (California) Inc. 

Prior
Mortgages: 

A.)    A
deed of trust to secure an indebtedness in the amount shown below, and any other obligations secured thereby: 

	

 	
 	

 
	
 Amount:	
 	

$50,000,000.00
	
 Dated:	
 	

October 10, 2003
	
 Trustor:	
 	

MEC Land Holdings (California) Inc.
	
 Trustee:	
 	

First American Title Insurance Company
	
 Beneficiary:	
 	

Bank of Montreal
	
 Loan No.:	
 	

None shown
	
 Recorded:	
 	

October 17, 2003, Instrument No. 2003-620524, of Official Records

Legal
Description: See Exhibit C-1 

 

2.     Santa Anita Property  

Owner:
The Santa Anita Companies, Inc. 

Prior
Mortgages: 

A.)    A
deed of trust to secure an indebtedness in the amount shown below, and any other obligations secured thereby 

	

 	
 	

 
	
 Amount:	
 	

$50,000,000.00
	
 Dated:	
 	

October 16, 2003
	
 Trustor:	
 	

The Santa Anita Companies, Inc., a Delaware corporation (as successor by merger to 234567 Developments, Inc., a Delaware corporation)
	
 Trustee:	
 	

First American Title Insurance Company
	
 Beneficiary:	
 	

Bank of Montreal
	
 Loan No.:	
 	

 
	
 Recorded:	
 	

October 16, 2003, Instrument No. 03-3088186, of Official Records

B.)    An
agreement which states that this instrument was subordinated to the document or interest shown as Item No. C, 

	By agreement Recorded:	 	October 8, 2004, Instrument No. 04-258165, of Official Records

C.)    A
deed of trust to secure an indebtedness in the amount shown below, and any other obligations secured thereby 

	

 	
 	

 
	
 Amount:	
 	

$75,000,000.00
	
 Dated:	
 	

October 8, 2004
	
 Trustor:	
 	

The Santa Anita Companies, Inc.
	
 Trustee:	
 	

American Securities Company, a California corporation
	
 Beneficiary:	
 	

Wells Fargo Bank, National Association

2

 

	

 	
 	

 
	
 Loan No.:	
 	

 
	
 Recorded:	
 	

October 8, 2004, Instrument No. 04-2598164, of Official Records

D.)    An
assignment of all the moneys due, or to become due, as rental, as additional security for the obligations by deed of trust shown as Item No. C. 

	

 	
 	

 
	
 Assigned to by Assignment	
 	

Wells Fargo Bank, National Association
	
 Recorded:	
 	

October 14, 2004, Instrument No. 04-2635762, of Official Records

Legal
Description: See Exhibit C-2 

3.     The Meadows Property  

Owner:
MEC Pennsylvania Racing, Inc. 

Prior
Mortgages: 

A.)    Open-End
Deed of Mortgage Under 42 PA. C.S.A. S.8143ETSEQ by MEC Pennsylvania Racing, Inc. in favour of MID Islandi sf, acting though its Zug Branch,
recorded as Instrument # 200440496. 

B.)    Assignment
of Rents and Landlord's Interest in Leases by MEC Pennsylvania Racing, Inc. in favour of MID Islandi sf, acting though its Zug Branch, recorded as Instrument #
200440497. 

Legal
Description: See Exhibit C-3 

4.     Dixon Property  

Owner:
MEC Dixon, Inc. 

Prior
Mortgages: None. 

Legal
Description: See Exhibit C-4 

5.     Ocala Property  

Owner:
Sunshine Meadows Racing Inc. 

Prior
Mortgages: None. 

Legal
Description: See Exhibit C-5 

3

 

6.     San Luis Rey Downs Property  

Owner:
SLRD Thoroughbred Training Center, Inc. 

Prior
Mortgages: None. 

Legal
Description: See Exhibit C-6 

7.     Gulfstream and Aventura Properties  

Owner:
Gulfstream Park Racing Association, Inc. 

Prior
Mortgages: 

A.)    Mortgage,
Security, Agreement and Assignment of Leases by Gulfstream Park Racing Association, Inc. in favour of MID Islandi sf, acting though its Zug Branch, recorded as
Instrument # 104557401 and CFN 2004R1101023. 

B.)    Assignment
of Rents and Landlord's Interest in Leases by Gulfstream Park Racing Association, Inc. in favour of MID Islandi sf, acting though its Zug Branch, recorded as
Instrument # 104557402 and CFN 2004R1101024. 

Legal
Description: See Exhibit C-7 

8.     Remington Property  

Owner:
Remington Park, Inc. 

Prior
Mortgages: None. 

Legal
Description: See Exhibit C-8 

9.     Flamboro Downs Property  

Owner:
Flamboro Downs Limited

Prior Mortgages: 

A.)    Instrument
No. VM176204, registered February 16, 1994 is a Charge in favour of Margaret Juravinski in the principal amount of $750,000.00. This Charge was subsequently assigned
to The Ontario Jockey Club by Instrument No. WE4337, registered September 19, 2000, further assigned to The Bank of Nova Scotia by Instrument No. WE19885, registered January 5, 2001, and
finally assigned back to Margaret Juravinski by Instrument No. WE30418, registered April 3, 2001. 

4

 

B.)    Charge
No. VM176205, registered February 16, 1994 is a Charge in favour of Charles Juravinski in the principal amount of $9,000,000.00. This Charge was assigned to The Ontario
Jockey Club by Instrument No. WE4338, registered September 19, 2000, further assigned to The Bank of Nova Scotia by Instrument No. WE19884, registered January 5, 2001, and finally
assigned back to Charles Juravinski by Instrument No. WE30417, registered April 3, 2001. 

C.)    Instrument
No. WE125564, registered October 21, 2002 is a Charge in favour of 1180554 Ontario Limited in the principal amount of $5,500,000.00. 

D.)    Instrument
No. WE125483, registered October 18, 2002, is a Charge in favour of Charles Juravinski and Margaret Juravinski in the principal amount of $51,694,000.00. 

Legal
Description: See Exhibit C-9 

10.   Palm Meadows Residential Property  

Owner:
Palm Meadows Estates, LLC

Prior
Mortgages: None.

Legal
Description: See Exhibit C-10 

11.   New York Lands Property  

Owner:
OTL, Inc. and DLR, Inc. 

Prior
Mortgages: None. 

Legal
Description: See Exhibit C-11 

12.   Thistledown Property  

Owner:
Thistledown, Inc. 

Prior
Mortgages: None. 

Legal
Description: See Exhibit C-12 

5

QuickLinks

EXHIBIT 10.1

EXHIBIT "1" SCHEDULE C Properties and Prior MortgagesQuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.7    
    

[LOGO] 

Via
Federal Express

June 3, 2005

Wayne Mackie

231 Country Drive

Weston, MA 02493 

Dear
Wayne: 

        I
am pleased to confirm CRA International's (CRA) offer of employment to join our Boston, MA office as Vice President and Chief Financial Officer with all the duties and responsibilities
related to such position on the following terms: 

	•
	Salary, payable twice a month at a rate equal to $250,000 per year.

	•
	Signing Bonus—Assuming a July 1, 2005 start date, you will be paid a signing bonus of $205,000. If you
terminate your employment voluntarily within the first three years of your employment, you agree to return (within seven (7) business days from the effective date of your termination) to CRA a
portion of the signing bonus, pro-rated in accordance with the percentage of the three-year service period that will not be completed (e.g., if you leave after two years, you agree to repay one third
of the signing bonus to CRA).

	•
	Year-end Bonus—You are eligible for CRA's bonus plan for Officers, in accordance with CRA's compensation system.
Your target cash bonus is $200,000, half of which will be based on personal performance and half on corporate performance. Bonuses are discretionary and are based on company, practice, and personal
performance. Bonuses will be in the form of cash and/or stock, payable based on the results of CRA's fiscal year, as determined after the end of the fiscal year. The fiscal year ends this year on
November 26, 2005. The Company sets aside a bonus pool based on corporate profitability; the bonuses are allocated based on assessments of contribution of individuals to corporate success. At
the end of each year, the Board Compensation Committee approves total cash compensation for each officer, based on corporate profitability and the officer's contribution to corporate profitability.
The annual bonus is the difference between total compensation and salary paid over the course of the year. Payment is dependent on being employed by CRA, and not under termination notice on the day of
payment. There is no entitlement to payment if your employment ends part way through a fiscal year. Bonus awards are paid after the end of the fiscal year and after receivables for the year are
substantially paid.

	•
	Stock Options—Subject to approval of the Board Compensation Committee (which has already approved this grant
informally), you will be awarded options on 25,000 shares of CRA stock at a strike price set as of the date of the actual formal Compensation Committee approval. The options will vest in four equal
annual installments, have a ten-year exercise period and have an exercise price equal to the market price on the date of award. In connection with equity participation, we require all officers to sign
a non-solicitation and non-hire agreement at the time of award. I have enclosed a copy of this agreement as Exhibit A. In addition, there is a
one-year, post-termination non-compete provision that takes effect only if and when the options are exercised. The provisions of this paragraph and the terms of  Exhibit A shall survive the
termination of this Agreement and/or the termination of your employment. 

John
Hancock Tower 200 Clarendon Street, T-33 Boston, Massachusetts 02116-5092

617-425-3000 Fax 617-425-3132 

 

	•
	Retirement Plan Benefits—you will be entitled to the following retirement benefits:

	•
	401(k) Savings—You may defer up to 100 percent of your compensation each pay period as a salary reduction
contribution (up to an annual maximum dollar limit established by the IRS each year) on a pre-tax basis.

	•
	401(k) Match Contribution—The Company provides a discretionary matching contribution in the amount of 50% of the
first 6% of your elective 401(k) deferrals. The employer match contribution will be funded each pay period and is 100% vested.

	•
	Profit Sharing Contribution—After you complete 6 months of service, you will be eligible for a
discretionary profit sharing contribution made to the retirement plan on your behalf. The company contribution is voted on by CRA's Board of Directors and funded on an annual basis. You must be
employed on the last day of the plan year in order to be eligible for a contribution for any given fiscal year. The profit sharing contribution is based on percentage of total compensation (up to
maximum limits established by the IRS each year). Benefits vest over a period of five years.

	•
	Benefits—You will receive CRA Officer benefits and standard employee benefits, which include 4 weeks vacation,
holidays, sick leave, life insurance, short-term disability, long-term disability, Company-paid standard group medical coverage for individual or family, as appropriate, and Company-paid parking or
public transportation passes.

	•
	Executive Supplement of Group Medical Coverage—Vice Presidents are provided with an Executive supplement to your
group medical coverage, covering all eligible medical/dental expenses not insured by your group medical plan, up to $5,000 per occurrence per year,
subject to a maximum of $50,000 per year for all claims.

	•
	Severance During the First 18 Months Other Than For Cause or Change of Control—Only if CRA terminates your
employment without cause before you have completed the first 18 consecutive months of service from your start date, and which termination is not a result of a change of control as defined below, you
will be entitled to received as liquidated damages and not as a penalty, an amount equal to a bonus for the pro-rated portion of the period you have worked computed at the target bonus amount, one
year's salary, and continuation of the standard employee health insurance for one year post-termination.

	•
	Employment At Will—You are an "at will" employee of CRA and your employment with CRA may be terminated upon four
(4) weeks prior written notice of termination of
your employment for any or no reason whatsoever, or if CRA serves such notice, CRA may pay you four (4) weeks base salary in lieu of notice; provided, however, in the event CRA terminates your
employment for "cause", CRA may terminate your employment immediately upon written notice of termination without any payment of any amounts other than accrued and unpaid compensation.

	•
	Termination in the Event of Change of Control—If your employment is terminated as a result of change of control,
you will receive a performance bonus of your target bonus for the year, prorated for length of service, and a lump sum bonus equal to one year's salary; in addition, the vesting of all stock options
that have been awarded to you will be immediately accelerated. The definition of "change of control" is attached hereto as Rider A attached hereto.

	•
	You
acknowledge that any severance payments made to you are, in part, in consideration of your continuing obligations under this agreement following the termination of your
employment with CRA for any reason.

	•
	Inventions, Confidentiality, and Publications—You acknowledge and understand that as an employee of CRA you will
be exposed to a significant amount of confidential information 

2

 

concerning
business methods, operations and Clients, that such information may be retained by you in tangible form or simply retained in your memory, and that the protection of CRA's exclusive rights
to such confidential information and trade secrets can best be ensured by means of a restriction on your activities during your employment with CRA and after termination of employment. Therefore, you
agree to be bound by CRA's standard Invention, Confidentiality, and Publication Agreement, a copy of which is attached hereto as Exhibit B. The
provisions of this paragraph and the terms of Exhibit B shall survive the termination of this Agreement and/or the termination of your
employment.

	•
	CRA Policies and Procedures—You acknowledge and understand that as an employee of CRA you will be required to
comply with all laws and regulations, as well as CRA rules, policies, and procedures as may be in effect from time to time, including, but not limited to, policies governing discrimination,
harassment, email and internet use, and securities trading.

	•
	Other Agreements—You represent that execution of this Agreement and your performance of all the terms of this
Agreement and the performance of your duties as an
employee of CRA do not and will not breach any agreement with any prior employer or other party to which you are a party (including without limitation any nondisclosure or non-competition agreement).

	•
	Governing Law—This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth
of Massachusetts (without reference to the conflicts of laws provisions thereof). Any action, suit or other legal proceeding arising under or relating to any provision of this Agreement shall be
commenced only in a court of the Commonwealth of Massachusetts. CRA and you each hereby irrevocably waive any right to a trial by jury in any action, suit or other legal proceeding arising under or
relating to any provision of this Agreement.

	•
	You
will abide by all professional, ethical, and CRA requirements, rules, laws, policies and practices, including, (i) without limitation, CRA's Code of Business
Conduct and Ethics and (ii) including without limitation CRA's policy regarding service on outside Board of Directors or Trustees.

	•
	Upon
termination of your employment for any reason, you will cooperate with CRA in all matters relating to the completion of pending work on behalf of CRA and the orderly
transfer of work to others as directed at CRA.

	•
	Entire Agreement—This Agreement, including the exhibits, documents and instruments referred to herein or therein,
constitute the entire agreement with respect of the subject matter covered by this Agreement, and supersedes all other prior agreements and understandings, both written and oral, among the parties
with respect to the subject matter hereof. 

        Based
on my understanding of your expectations and career aspirations, I believe that CRA can offer you a warm and stimulating environment to grow professionally and contribute to the
growth of our firm. 

        If
this offer is acceptable to you, please sign one original of this letter and return to us as soon as possible, but, in any event, no later than June 7, 2005. 

        This
offer is contingent upon the satisfactory completion of reference and background checks, the latter conducted by Pinkerton Consulting and Investigations. This is a standard
procedure required by our Board for all senior hires. 

3

 

        My
colleagues and I are excited about the prospect of your joining us. 

	

Sincerely yours,	
 	

 
	

CRA INTERNATIONAL, INC.	
 	

 
	

/s/ JAMES C. BURROWS	
 	

 
	

James C. Burrows President and CEO	
 	

 
	

JCB/cdb	
 	

 
	

Enclosures	
 	

 
	

/s/ WAYNE D. MACKIE
 Wayne D. Mackie	
 	

 
	

June 7, 2005

Date	
 	

 

4

Exhibit A  

CRA International, Inc.

NON-SOLICIT/NON-HIRE AGREEMENT  

        This NON-SOLICIT/NON-HIRE Agreement is made as of June 3, 2005, by and between CRA International, Inc., a Massachusetts corporation ("CRA"), and
Wayne Mackie. For the purposes of this Agreement, the "Company" shall mean CRA and all affiliates of CRA who provide economic, financial or business consulting services, including subsidiaries and
joint ventures providing such services, as well as any other parties controlling, controlled by, or under common control with CRA to provide such services. 

        In
consideration of your equity participation in CRA, as outlined in our offer letter to you dated June 3, 2005, you agree that, for one year after the date of termination of your
employment by CRA: 

	(a)
	you
shall not directly or indirectly solicit, induce, attempt to hire, or hire any employee or consultant of the Company (or any other person who may have been employed or retained by
the Company during the 12-month period prior to your date of termination), or assist in such hiring by any other person or business entity or encourage any such employee or consultant to terminate his
or her employment or retention with the Company;

	(b)
	you
shall not directly or indirectly solicit, divert or take away, or attempt to divert or take away, from the Company the business or patronage of (i) any persons or entities
who were clients or accounts of the Company while you were employed by the Company or (ii) any prospective clients or accounts of the Company which the Company or any of its employees or
consultants had held substantive discussions with or submitted a proposal to while you were employed by the Company. The restrictions of this paragraph (b) shall (x) not apply with
respect to clients, if any, who you can demonstrate were your active clients prior to your employment by the Company and shall (y) not limit you from soliciting business directly or indirectly
from any Client in a line of business that the Company has affirmatively discontinued. 

        BY
SIGNING THIS AGREEMENT BELOW, YOU ACKNOWLEDGE THAT YOU HAVE READ ALL THE PROVISIONS OF THIS AGREEMENT AND THAT YOU AGREE TO ALL OF ITS TERMS. 

	
	 	 
	 	 	Accepted:
	

 	
 	
CRA International, Inc.
	

 	
 	

By:
	

 	
 	

Its:

Exhibit B  

CRA International, Inc.

Employee's Invention, Confidentiality, and Publication Agreement  

	 	 	Employee's Name:	 	

	

 	
 	

Practice/Department:	
 	

        In
consideration of my employment by CRA International, Inc. (CRA), I agree with CRA as follows: 

I. Purpose of This Agreement  

        This Agreement represents CRA's and my effort to express in plain terms our rights and obligations concerning confidential information belonging to CRA or its
clients, and concerning publications and work product produced during my term of employment with CRA. 

        The
terms of this Agreement are the result of extensive consultation between CRA and representatives of the interests of its employees. As a result, CRA and I agree that there shall be
no presumption that this Agreement should be strictly construed against either CRA or me. 

II. Confidential Information  

        I recognize that my relationship with CRA is one of trust and confidence and that during the period of my employment with CRA I may acquire knowledge of, or have
access to, confidential information belonging to CRA or its clients. I agree not to disclose confidential information to anyone outside of CRA, either during or subsequent to my employment at CRA,
subject to the exceptions enumerated below. 

For
purposes of this Agreement, CRA and I agree that "confidential information" shall mean CRA's or a client's confidential, business and proprietary information, which shall include, but not be
limited to, technical data and know-how, as well as information relating to research, products, software, models, services, development, inventions, personnel, clients, projects, engagements,
proposals, contact lists, processes, engineering, marketing, techniques, customers, pricing, internal procedures, business and marketing plans or strategies, finances, employees, business
opportunities, and other related confidential and proprietary information, in any form presented or revealed.

        I
understand that confidential information includes the above types of information however provided or revealed to me, whether or not I have been specifically notified of such
designation, and also includes other types of generic classes of information that CRA or a CRA client has notified me are considered confidential. In such cases, I understand that such written
notification may include CRA's written Policies and Procedures as well as written notices directed to me personally. For purposes of this Agreement, CRA also includes all of its subsidiaries. 

        CRA
agrees that my obligation not to disclose confidential information is subject to the following exceptions: 1) any information that is generally known or available to the
public or that has been disclosed to the public in connection with a patent or copyright registration; 2) any information that CRA or a CRA client has disclosed to a third party, where the
effect of such disclosure is to make the information public; 3) any information that CRA has authorized me to disclose by means of a letter addressed to me and signed by CRA's President or
Executive Vice President; 4) any information belonging to CRA that CRA has requested me to disclose in the course of my work for CRA; and 5) any information belonging to a CRA client,
including CRA work product, that the client has specifically designated nonconfidential or of which the client has specifically authorized disclosure. 

III. Inventions, Patents, and Copyrights  

        I agree to communicate and assign to CRA, or its clients if CRA so requests, all inventions that I may make during my term of employment with CRA, whether
conceived during or outside of CRA's 

normal
working hours. CRA and I agree, however, that this obligation shall apply only to inventions made or conceived by me in the course of or arising out of or suggested by my work for CRA or out of
my use of CRA's data or facilities. For purposes of this agreement, CRA and I agree that "Invention" shall be defined as follows: 

        "Any
invention, potentially patentable idea, discovery, or improvement, whether or not patentable and whether or not reduced to writing or to practice." 

        If
requested to do so by CRA, whether during or subsequent to my employment, I agree to do whatever is reasonably required to take out patents on inventions assignable to CRA under this
Agreement, and to assign all such patents and applications relating to them to CRA or to persons or firms designated by CRA. While employed by CRA I agree to keep and promptly make available to CRA
records of the type required to obtain patents. 

        If
requested to do so by CRA, whether during or subsequent to my employment, I agree to do whatever is reasonably required to assist CRA in obtaining copyrights on written work created
by me in the course of or arising out of my work for CRA. 

        CRA
agrees to pay all costs of procuring patents or copyrights and making assignments of them, when such patents or copyrights are applied for at CRA's request. Since my obligations to
CRA will continue after I have left CRA, CRA agrees to pay for actual out of pocket costs incurred in order to comply with this Section III of the Agreement. 

IV. Employee's Publications  

        CRA wishes to encourage its employees to advance themselves in their professions through publication of professional works, but also wishes to protect its rights
under this Agreement with respect to confidential information and employees' work product. I understand that the substance and quality of my publications, including publications not sponsored by CRA,
may affect the reputation and business interests of CRA and the professional reputations of my colleagues. I understand that the substance and quality of my publications is one criterion upon which my
continuing performance as a CRA employee may be evaluated. 

        I
agree, therefore, during my term of employment with CRA to notify CRA's President in writing prior to submitting any work of mine for publication or to agreeing to have my name used in
connection with any publication. If at the time that I sign this agreement I have agreed to publish any work or to have my name used in connection with any publication that will appear in the future,
I agree to describe any such agreements in a signed letter to CRA's President, a copy of which is attached to this agreement. 

        I
further agree after leaving CRA not to use CRA's name or logo (or any similar derivation) in connection with any publication of my work unless specifically authorized to do so by a
letter signed by CRA's President or Executive Vice President. 

        I
understand that nothing in this Section modifies my obligation, under other Sections of this Agreement, not to disclose confidential information. 

V. Termination Provisions  

        If I cease to be employed by CRA, I agree to return promptly any confidential information, including computer programs, specifications, drawings, blueprints,
reproductions, sketches, notes, reports, proposals, business plans, or copies of them, other documents or materials, tools, equipment, or other property belonging to CRA or its clients. I understand
that this obligation includes the obligation upon termination to turn over to CRA complete and current records of the type required to obtain patents on inventions assignable to CRA under this
Agreement. 

        If
requested to do so by CRA, I agree to sign a Termination Certification which states that I have complied with the requirement of the preceding paragraph and which also states that I
am aware that certain restrictions imposed upon me in my Invention, Confidentiality, and Publication Agreement with CRA continue after termination of my employment. I understand, however, that my and
CRA's rights and obligations under this Agreement will continue even if I do not sign a Termination Certification. 

VI. Other Legal Provisions  

	A.
	To
avoid any subsequent misunderstanding about this Agreement, CRA and I agree that it is supplemental of and in addition to any other agreements signed between me and CRA, and shall
not be construed to limit or restrict any other obligations or restrictions upon me relating to the subject matter herein. I also agree that subsequent modifications of this Agreement will not be
effective unless they are in writing and signed by both me and the President or Executive Vice President of CRA.

	B.
	CRA
and I agree that this Agreement will bind any successors in interest to either of us, including, for example, successors, heirs, assignees, executors, and administrators.

	C.
	If
any court or administrative agency determines that part of this Agreement cannot be enforced, CRA and I agree that such terms may be modified by such entity to the extent necessary
to become enforceable. The remaining terms shall of the Agreement will remain in force. In addition, we agree that my confidentiality obligations under this Agreement are separate and independent from
CRA's obligations to me under this or any other agreement.

	D.
	If
CRA ever claims that I have violated or am about to violate my confidentiality obligations with respect to any confidential information, I agree that I will have the burden of
proving that the relevant information is not confidential information (as defined in Section II of this Agreement). In addition to any other rights, CRA may obtain an injunction to prevent me
from disclosing that information, since it is agreed that money damages alone would not provide adequate compensation to CRA for a breach or threatened breach.

	E.
	CRA's
failure to enforce any violation of this Agreement shall not be a waiver of CRA's right to seek enforcement of any future violation or be construed that such failure waives CRA's
rights to seek any subsequent similar breach of the Agreement.

	F.
	CRA
AND I EACH IRREVOCABLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT OR OTHER LEGAL PROCEEDING ARISING UNDER OR RELATING TO THIS AGREEMENT.

	G.
	CRA
and I agree that this Agreement will be governed and interpreted according to Massachusetts law and that it will have the effect of a sealed instrument. I agree that any action to
enforce the terms of the Agreement shall be held in a court situated in the Suffolk County, Massachusetts. 

        I
HAVE READ THIS AGREEMENT, AND I UNDERSTAND IT.

CRA International, Inc. 

	
	 	

	Cynthia D. Butler

Vice President, Human Resources	 	Employee Name (Print)
	

 	
 	

 Employee Signature

Rider A

Definition of Change in Control of the Company  

        For purposes of this letter, a "change in Control of the company" shall be deemed to occur if (i) there shall be consummated (x) any consolidation
or merger of the company in which CRA (hereinafter "the Company") is not the continuing or surviving corporation or pursuant to which shares of the Company's Common Stock would be converted into cash,
securities or other property, other than a merger or consolidation in which the holders of the company's Common Stock immediately prior to the merger or consolidation have more than 50% of the
combined voting power of the continuing or surviving corporation immediately after the merger, or (y) any sale, lease, exchange or other transfer (in one transaction or a series of related
transactions) of all, or substantially all, of the assets of the Company, or (ii) the stockholders of the company shall approve any plan or proposal for complete liquidation or dissolution of
the company, or (iii) any person (as such term is used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the "Exchange Act")) shall become the beneficial owner
(within the meaning of Rule 13d-3 under the Exchange Act) (other than the company, or any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same
proportions as their ownership of stock of the Company) of securities of the Company representing more than 50% of the combined voting power of the Company's then outstanding securities, or
(iv) during any year, individuals who at the beginning of such year constitute the entire Board of Directors of the Company shall cease for any reason to constitute a majority thereof unless
the election, or the nomination for election by the Company's stockholders, of each new director was approved by a vote of at least a majority of the directors then still in office who were directors
at the beginning of the year. 

QuickLinks

Exhibit 10.7

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