Document:

Exhibit

Exhibit 10.1

SIXTH AMENDMENT TO
FIRST LIEN CREDIT AGREEMENT

THIS SIXTH AMENDMENT TO FIRST LIEN CREDIT AGREEMENT (this “Amendment”), dated as of March 11, 2016 (the “Effective Date”), is entered into by and among FULL HOUSE RESORTS, INC., a Delaware corporation (the “Borrower”); each of the undersigned financial institutions (collectively, the “Lenders”); and CAPITAL ONE, NATIONAL ASSOCIATION (“Capital One”), as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), as L/C Issuer and as Swing Line Lender (as such terms are defined in the Credit Agreement referenced below).

RECITALS

A.    The Borrower, Administrative Agent and Lenders have executed a First Lien Credit Agreement, dated as of June 29, 2012 (as amended, the “Credit Agreement”) providing for a Revolving Loan in the maximum aggregate principal amount of $5,000,000, a Term Loan in the original principal amount of $50,000,000, a Term Loan (Hotel) in the maximum principal amount of $10,000,000 and a Swing Line Loan in the maximum principal amount of $1,000,000.  Capitalized terms used herein and not otherwise defined herein shall have the meanings defined in the Credit Agreement.

B.    The Borrower has requested an extension of the maturity date of the Obligations.  The Administrative Agent and the Lenders are willing to accept such requests on the terms and conditions set forth below.

NOW, THEREFORE, in consideration of the above Recitals and the mutual covenants herein contained, the parties hereto hereby agree as follows:

I.     AMENDMENTS TO CREDIT AGREEMENT

1.Section 1.01 (Definitions) of the Credit Agreement is hereby amended to modify the following definitions:

“Maturity Date” shall mean April 1, 2017.

2.    Except as specifically amended hereby, all of the remaining terms and conditions of the Credit Agreement shall remain in full force and effect.

II.     MISCELLANEOUS

1.Representations and Warranties.  Borrower represents to the Administrative Agent and the Lenders, as of December 31, 2015, as follows:

(a)The representations and warranties of the Loan Parties set forth in Article IV of the Credit Agreement and in the other Credit Documents are true and correct in all material respects (except to the extent that such representation and warranty is qualified by materiality, in which case such representation and warranty must be true in all respects) as 
 

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if made on such date (except for representations and warranties expressly made as of a specified date, which shall be true and correct in all material respects (except to the extent that such representation and warranty is qualified by materiality, in which case such representation and warranty must be true in all respects) as of such date);

(b)No Default has occurred and is continuing; and

(c)No material adverse change in the business, operations, condition (financial or otherwise), assets or liabilities (whether actual or contingent) of the Borrower Parties taken as a whole has occurred since December 31, 2015.

2.Conditions Precedent.  Upon the satisfaction of all of the following conditions precedent, this Amendment shall, retroactively as of the Effective Date, become effective:  (i) the Borrower shall have paid or caused to be paid all costs and expenses incurred by the Agent and the Lenders through the Effective Date and (ii) the Agent and the Lenders shall have received the following, all of which shall be in form and substance satisfactory to the Agent and in sufficient counterparts:

(a)Executed counterparts of this Amendment signed by all of the Loan Parties.

(b)Acknowledgment of First Lien Guarantors to this Amendment.

(c)Acknowledgment of Second Lien Lenders to this Amendment.

(d)Flood hazard determination certificates for Silver Slipper Casino property, if required by Administrative Agent.

(e)Certificate of Borrower stating that (i) all material consents necessary or advisable in connection with the transactions contemplated by this Amendment have been obtained, (ii) all of the foregoing conditions precedent have been satisfied and (iii) the Effective Date has occurred; provided that if such certificate is not received by June 30, 2015 (unless such date is extended by the Administrative Agent), this Amendment shall become null and void.

(f)Such other documents as the Administrative Agent may reasonably request.

3.Counterparts.  This Amendment may be executed in any number of identical counterparts, any set of which signed by all the parties hereto shall be deemed to constitute a complete, executed original for all purposes.  Transmission by facsimile, “pdf” or similar electronic copy of an executed counterpart of this Amendment shall be deemed to constitute due and sufficient delivery of such counterpart.  Any party hereto may request an original counterpart of any party delivering such electronic counterpart.

4.Effective Date.  Upon the satisfaction of the conditions precedent set forth in Section 2 of this Article II, this Amendment shall become effective as of the Effective Date.

[Signatures on following pages]

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IN WITNESS WHEREOF, the Borrower, the Lenders, the Administrative Agent, the L/C Issuer and the Swing Line Lender have caused this Agreement to be executed as of the day and year first above written.

	
		
	BORROWER:
	FULL HOUSE RESORTS, INC.,

	 
	a Delaware corporation

	 
	 

	By:
	/s/ Daniel Lee

	Name:
	Daniel Lee

	Title:
	President and Chief Executive Officer

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	ADMINISTRATIVE AGENT,
	 

	COLLATERAL TRUSTEE, L/C
	 

	ISSUER. SWING LINE LENDER
	 

	AND LENDER:
	CAPITAL ONE, NATIONAL ASSOCIATION,

	 
	 

	By:
	/s/ Ross S. Wales

	Name:
	Ross S. Wales

	Title:
	Senior Vice President

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	LENDERS:
	NEVADA STATE BANK

	 
	 

	By:
	/s/ Troy Morris

	Name:
	Troy Morris

	Title:
	Vice President

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	FIRST TENNESSEE BANK

	 
	NATIONAL ASSOCIATION

	 
	 

	By:
	/s/ James M. Hennigan

	Name:
	James M. Hennigan

	Title:
	Senior Vice President

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	TRUSTMARK NATIONAL BANK

	 
	 

	By:
	/s/ Craig E. Sosebee

	Name:
	Craig E. Sosebee

	Title:
	First Vice President

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	Western Alliance Bank, an Arizona corporation, as

	 
	successor-in-interest to Bank of Nevada

	 
	 

	By:
	/s/ Anthony J. Stelluto

	Name:
	Anthony J. Stelluto

	Title:
	Senior Vice President

 8EXHIBIT 10.17

 

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

 

THIS SECOND AMENDMENT
TO EMPLOYMENT AGREEMENT (this “Amendment”) is made and entered into as of November 16, 2015 (the “Amendment
Date”), by and between Radnet Management, Inc., a California corporation (“Company”), and
Howard G. Berger, M.D. (“Employee”).

 

W I T N E S S E T H:

 

WHEREAS, CCC Franchising
Acquisition Corp. II, a California corporation, and Employee previously entered into that certain Employment Agreement, dated as
of June 12, 1992, as amended by that certain First Amendment to Employment Agreement, dated as of January 30, 2004 that assigned
the Employment Agreement to Company (collectively, the “Agreement”), which Agreement provides certain
terms and conditions of Employee’s employment by the Company;

 

WHEREAS, Employee has
been continuously employed from June 12, 1992 through the Amendment Date; and

 

WHEREAS, in accordance
with Section 14 of the Agreement, Company and Employee now wish to modify the terms of the Agreement pursuant to this Amendment
and in accordance with the below.

 

NOW, THEREFORE, in
consideration of the mutual covenants set forth in this Amendment and in the Agreement, effective as of the Amendment Date, Company
and Employee agree as follows:

 

1.             Addition
of New Section 20 to Agreement. A new section 20 is hereby added to the Agreement, as follows:

 

20.            409A.

 

To the maximum extent permitted, this
Agreement is intended to not constitute a “nonqualified deferred compensation plan” within the meaning of Internal
Revenue Code Section 409A (“Section 409A”) but in any event will be interpreted to comply with Section
409A. In the event this Agreement or any benefit paid under this Agreement to Employee is deemed to be subject to Section 409A,
Employee consents to the Company’s adoption of such conforming amendments as the Company deems advisable or necessary, in
its sole discretion (but without an obligation to do so), to comply with Section 409A and avoid the imposition of taxes under
Section 409A.

 

For purposes
of this Agreement, a termination of employment means a “separation from service” as defined in Section 409A. 
Each payment made pursuant to any provision of this Agreement shall be considered a separate payment and not one of a series of
payments for purposes of Section 409A.   To the extent any nonqualified deferred compensation payment to Employee could
be paid in one or more of Employee’s taxable years depending upon Employee completing certain employment-related actions,
then any such payments will commence or occur in the later taxable year to the extent required by Section 409A.

 

 

 

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If upon Employee’s
“separation from service” within the meaning of Section 409A, Employee is then a “specified employee” (as
defined in Section 409A), then solely to the extent necessary to comply with Section 409A and avoid the imposition of taxes under
Section 409A, the Company shall defer payment of “nonqualified deferred compensation” subject to Section 409A payable
as a result of and within six (6) months following such “separation from service” until the earlier of (i) the first
business day of the seventh month following Employee’s “separation from service,” or (ii) ten (10) days after
the Company receives written confirmation of Employee’s death.  Any such delayed payments shall be made without interest.

 

 

2.             Acknowledgements.
This Amendment is to be read and construed with the Agreement as constituting one and the same agreement. Except as specifically
modified by this Amendment, all other remaining provisions, terms and conditions of the Agreement shall remain as is and shall
not be modified by this Amendment. This Amendment may not be altered, modified or amended, except by a written instrument signed
by the parties hereto.

 

3.             Defined
Terms. All terms not herein defined shall have the meanings ascribed to them in the Agreement.

 

4.            Counterparts.
This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which
together shall constitute one and the same instrument.

 

5.           Governing
Law. This Amendment shall be governed, construed, interpreted and enforced in accordance with the substantive laws of
the State of California, without reference to the principles of conflicts of law of California or any other jurisdiction, and
where applicable, the laws of the United States.

 

 

[Signature Page Follows]

 

 

 

 

 

 

 

 

 

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IN WITNESS WHEREOF,
the undersigned have executed this Amendment as of the Amendment Date.

 

	 	RADNET MANAGEMENT, INC. 
	 	 
	 	By: 	/s/ Jeffrey L. Linden
	 	 	Name: Jeffrey L. Linden
Title:   Executive Vice President and General Counsel
	 	 	 
	 	 	 
	 		/s/ Howard G. Berger, M.D.
	 	 	HOWARD G. BERGER, M.D.

 

 

 

 

 

 

 

 

 

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