Document:

Amendment to Purchase Agreement with Rothbart Development dtd January 16, 2003

 EXHIBIT 10.4 
  
 [LETTERHEAD OF ROTHBART DEVELOPMENT] 
  

January 16, 2003 
  
 Sandra G. Kanengiser, Esq. 
 Irell & Manella, LLP 
 1800 Avenue of the Stars, Suite 900 
 Los Angeles, CA 90067-4276 
  
 Re:   Inglewood, California 
 Purchase Agreement: dated June 14, 2002 (“Purchase Agreement”) 
 Amendment to Purchase Agreement: dated November 14, 2002 (“Amendment”) 
 Buyer: Rothbart Development Corporation (“Rothbart”) 
 Seller: Pinnacle Entertainment, Inc. (“Seller”) 
  
 Dear Ms. Kanengiser: 
  
 On connection with the above-referenced transaction, this will letter will serve to clarify the following matters that have
been approved by Rothbart and/or waived by Seller. Terms not otherwise defined herein shall have the meaning set forth in the Purchase Agreement and/or Amendment. 
  

	 	1.	 	Section 4 of Amendment. Rothbart hereby approves the matters subject to Rothbart’s approval, set forth in Section 4 of the Amendment. Seller hereby waives any objection
to Rothbart’s failure to approve or disapprove such matters on, or before, December 15, 2002, as required by Section 4 of the Amendment. 

  

	 	2.	 	Additional Deposit. Pursuant to Section 5.a of the Amendment, Rothbart is required to make the Additional Deposit on, or before, November 18, 2002 (by cash or by allocation
to the Letter of Credit). The Additional Deposit was allocated to the Letter of Credit on December 6, 2002. Pinnacle hereby waives any objection to Rothbart’s failure to make the Additional Deposit on, or before, November 18, 2002.

  

	 	3.	 	Milestone Schedule. Pursuant to the Purchase Agreement, Rothbart is required to make reasonable efforts to adhere to the Milestone Schedule attached as Exhibit “J”
to the Purchase Agreement. Pursuant to the Milestone Schedule, entitlement applications were scheduled to be filed on October 16, 2002. As of the date hereof, project entitlement applications have not been filed, and Rothbart does not anticipate
filing them before February 3, 2003. Seller hereby waives any objection to Rothbart’s failure to file project entitlement applications on, or before, February 3, 2003, and Seller and Rothbart hereby agree that all of the dates set forth in the
Milestone Schedule shall be adjusted accordingly. 

  

	 	4.	 	Closing Date. Sections 18.A and 18.B. of the Purchase Agreement provide for certain termination rights for Seller, and extension rights for Rothbart. As a result of the
adjustment to the Milestone Schedule, it is also necessary to confirm the 

 January 16, 2003 
 Page 2

  
 corresponding changes to Seller’s termination rights and
Rothbart’s extension rights, as set forth in Sections 18.A and 18.B. Accordingly, Seller and Rothbart hereby agree that the second sentence of Section 18.A is hereby deleted and replaced with the following: “Notwithstanding any other
provision or contingency in this Agreement to the contrary, including, without limitation, the preceding sentence, if the Closing has not occurred on, or before, September 15, 2003, Seller shall have the right, in its sole and absolute discretion,
to terminate this Agreement; provided, however, that in the event Seller so elects to terminate the Agreement, Rothbart shall have the one-time option (in addition to Rothbart’s Section 18.B extension rights) to continue the Agreement and
extend the Closing for up to three (3) additional months.” Seller and Rothbart further hereby agree that the last sentence of Section 18.A is hereby deleted and replaced with the following: “Notwithstanding any other provision of this
Agreement (including without limitation Section 15 hereof), if Rothbart validly extends the Closing, but the Closing has not occurred on, or before, December 15, 2003, and Rothbart has not extended the Closing in accordance with Section 18.B hereof,
then Seller shall have the right, in its sole and absolute discretion, to terminate this Agreement.” Seller and Rothbart further hereby agree that the third sentence of Section 18.B is hereby deleted and replaced with the following:
“Rothbart may exercise its initial 6-month extension right relating to such Litigation by providing written notice to Seller of its intention to exercise such right prior to September 15, 2003, as such date may be extended pursuant to Section
18.A hereof.” 
  
 Rothbart and Seller hereby expressly
reinstate the Purchase Agreement, as amended, as the result of any automatic termination for any of the matters set forth above, and Rothbart and Seller hereby reaffirm the Purchase Agreement, as amended by the Amendment and the matters set forth
herein. 
  
 If the foregoing comports to your understanding of the
agreement between Seller and Rothbart, please have Seller countersign this letter where indicated and return Seller’s original signature to me. 
  
  

	Very truly yours,
		
	 	 	 
	 Stanley G. Rothbart, for
 ROTHBART DEVELOPMENT
 CORPORATION 

  
 PINNACLE ENTERTAINMENT, INC.

  

		
	 By:    
	 	 /s/    JOHN A.
GODFREY            

		
	 Its:
	 	 Senior VP, Secretary and General CounselFIRST SUPPLEMENTAL INDENTURE

 EXHIBIT 10.1 
  
 FIRST SUPPLEMENTAL INDENTURE 
  

This First Supplemental Indenture, dated as of March 31, 2003 (this “Supplemental Indenture” or
“Guarantee”), among PXP Gulf Coast Inc., a Delaware corporation (the “New Subsidiary Guarantor”), Plains Exploration & Production Company, a Delaware corporation (together with its successors and
assigns, the “Company”) and Plains E&P Company, a Delaware corporation (together with the Company, the “Issuers”), each other then existing Subsidiary Guarantor under the Indenture referred to
below, and JPMorgan Chase Bank, a New York banking corporation, as Trustee (the “Trustee”) under the Indenture referred to below. 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Company, the Subsidiary Guarantors and the Trustee have heretofore executed and delivered an Indenture, dated as of July 3, 2002 (as amended,
supplemented, waived or otherwise modified, the “Indenture”), providing for the issuance of an aggregate principal amount of $200,000,000 of 8 3/4% Senior Subordinated Notes due 2012 of the Issuers (the
“Securities”); 
  
 WHEREAS, Section
3.12 of the Indenture provides that the Company is required to cause each Restricted Subsidiary other than a Foreign Subsidiary created or acquired by the Company execute and deliver to the Trustee a Subsidiary Guarantee pursuant to which such
Subsidiary Guarantor will unconditionally Guarantee, on a joint and several basis with the other Subsidiary Guarantors, the full and prompt payment of the principal of, premium, if any, and interest on the Securities on a senior subordinated basis;
and 
  
 WHEREAS, pursuant to Section 9.1 of the Indenture,
the Trustee and the Issuers are authorized to execute and deliver this Supplemental Indenture to amend the Indenture, without the consent of any Securityholder. 
  

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the New
Subsidiary Guarantor, the Issuers, the other Subsidiary Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as follows: 
  
 ARTICLE I 
  
 Definitions 
  
 SECTION 1.1 Defined Terms.    As used in this Subsidiary Guarantee, terms defined in the Indenture or in the preamble or
recital hereto are used herein as therein defined, except that the term “Holders” in this Guarantee shall refer to the term “Securityholders” as defined in the Indenture and the Trustee acting on
behalf or for the benefit of such Holders. The words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this
Supplemental Indenture as a whole and not to any particular section hereof. 

 ARTICLE II 
  
 Agreement to be Bound; Guarantee 
  
 SECTION 2.1 Agreement to be Bound.    The New Subsidiary Guarantor hereby becomes a party to the Indenture, as a Subsidiary
Guarantor and as such will have all of the rights and be subject to all of the obligations and agreements of a Subsidiary Guarantor under the Indenture. The New Subsidiary Guarantor agrees to be bound by all of the provisions of the Indenture
applicable to a Subsidiary Guarantor and to perform all of the obligations and agreements of a Subsidiary Guarantor under the Indenture. 
  
 SECTION 2.2 Guarantee.    The New Subsidiary Guarantor hereby fully, unconditionally and irrevocably guarantees, as primary
obligor and not merely as surety, jointly and severally with each other Subsidiary Guarantor, to each Holder of the Securities and the Trustee, the full and punctual payment when due, whether at maturity, by acceleration, by redemption or otherwise,
of the Obligations pursuant to Article X of the Indenture on a senior subordinated basis. 
  
 ARTICLE III 
  
 Miscellaneous 
  
 SECTION 3.1
Notices.    All notices and other communications to the New Subsidiary Guarantor shall be given as provided in the Indenture to the New Subsidiary Guarantor at the following address, with a copy to the Issuers as provided
in the Indenture for notices to the Issuers: c/o Plains Exploration & Production Company, 500 Dallas Street, Suite 700, Houston, Texas 77002, Attention: Timothy T. Stephens, General Counsel. 
  
 SECTION 3.2 Parties.     Nothing expressed or
mentioned herein is intended or shall be construed to give any Person, firm or corporation, other than the Holders and the Trustee, any legal or equitable right, remedy or claim under or in respect of this Supplemental Indenture or the Indenture or
any provision herein or therein contained. 
  
 SECTION 3.3
Governing Law.    This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York. 
  
 SECTION 3.4 Severability Clause.    In case any provision in this Supplemental Indenture shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such invalidity, illegality
or unenforceability. 
  
 SECTION 3.5 Ratification of Indenture;
Supplemental Indentures Part of Indenture.    Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and
effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby. 
  

 2 

 The Trustee makes no representation or warranty as to the validity or sufficiency of this Supplemental Indenture.

  
 SECTION 3.6 Counterparts.    The
parties hereto may sign one or more copies of this Supplemental Indenture in counterparts, all of which together shall constitute one and the same agreement. 
  
 SECTION 3.7 Headings.    The headings of the Articles and the sections in this Guarantee are for convenience of reference only
and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof. 
  
 [SIGNATURE PAGE FOLLOWS] 
  
  

 3 

 IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly executed
as of the date first above written. 
  

	 PXP GULF COAST INC.,
 as a Subsidiary Guarantor

		
	 By:
	 	 /s/ Timothy T. Stephens

	 	 	 Name: Timothy T. Stephens

	 	 	 Title: Executive Vice President –

	 	 	       Administration, Secretary and         General
Counsel

  

	JPMORGAN CHASE BANK, as Trustee
		
	 By:
	 	 /s/ Rebecca A. Newman

	 	 	 Name: Rebecca A. Newman

	 	 	 Title: Vice President & Trust Officer

  

	PLAINS EXPLORATION & PRODUCTION COMPANY
		
	 By:
	 	 /s/ Timothy T. Stephens

	 	 	 Name: Timothy T. Stephens

	 	 	 Title: Executive Vice President –       

	 	 	       Administration, Secretary and         General
Counsel

  

	PLAINS E&P COMPANY
		
	 By:
	 	 /s/ Timothy T. Stephens

	 	 	 Name: Timothy T. Stephens

	 	 	 Title: Vice President and Secretary

  
  

	 ARGUELLO INC., as a Subsidiary Guarantor

		
	 	 	 
	 By:
	 	 /s/ Timothy T. Stephens

	 	 	 Name: Timothy T. Stephens

	 	 	 Title: Vice President and Secretary

  
  
  
  
  
  
  
  
  
  
  

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	PLAINS ILLINOIS INC., as a Subsidiary Guarantor
		
	 	 	 
	 By:
	 	 /s/ Timothy T. Stephens

	 	 	 Name: Timothy T. Stephens

	 	 	 Title: Vice President and Secretary

  

	PLAINS RESOURCES INTERNATIONAL INC., as a Subsidiary Guarantor
		
	 	 	 
	 By:
	 	 /s/ Timothy T. Stephens

	 	 	 Name: Timothy T. Stephens

	 	 	 Title: Vice President and Secretary

  

	PMCT INC., as a Subsidiary Guarantor
		
	 	 	 
	 By:
	 	 /s/ Timothy T. Stephens

	 	 	 Name: Timothy T. Stephens

	 	 	 Title: Vice President and Secretary

  

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