Document:

[341182.EX10_6]1                                     

 
Exhibit 10.6 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (the
“Agreement”) is made effective this 10th day of
April, 2012, by and between PINNACLE ENTERTAINMENT, INC., a Delaware corporation (the “Company”), and NEIL E. WALKOFF, an individual (“Executive”), with respect to the following facts and circumstances: 

RECITALS 
 The
Company is currently employing Executive as its Senior Vice President and General Manager – St. Louis pursuant to the Employment Agreement dated November 15, 2011 (the “Employment Agreement”). 

The Company wishes to have Executive become Executive Vice President, Regional Operations of the Company and Executive is willing to
assume such position, in each case on the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration
of the mutual promises, covenants and agreements set forth herein, the Company and Executive agree as follows: 
 ARTICLE 1.

 EMPLOYMENT AND TERM 
 1.1 Employment. The Company agrees to continue to engage Executive in the capacity as Executive Vice President, Regional Operations of the Company and Executive hereby accepts such engagement by
the Company upon the terms and conditions specified below. 
 1.2 Term. The term of this Agreement shall commence on
April 10, 2012 and, unless earlier terminated under Article 6 below, shall continue in force until April 9, 2015 (the “Initial Term”); provided that commencing on December 11, 2014 and as of December 11 of each year
hereafter (a “Renewal Date”), this Agreement shall automatically renew for additional one-year periods (each, a “Renewal Period”), unless either party gives notice of non-renewal at least one hundred twenty (120) days prior
to the next Renewal Date. The Term of this Agreement, including any Renewal Periods, is referred to as the “Term.” 

ARTICLE 2. 

DUTIES OF EXECUTIVE 
 2.1 Duties. Executive shall perform all the duties and obligations generally associated with the position of Executive Vice President, Regional Operations with responsibility for the St. Louis,
Missouri, Indiana and Cincinnati, Ohio regions and such other regions as may be assigned from time to time, subject to the control and supervision of the Company’s Chief Executive Officer, and such other executive duties consistent with the
foregoing as may be 

[341182.EX10_6]2                                     

 

assigned to him from time to time by the Company. Executive shall perform the services contemplated herein faithfully, diligently, to the best of his ability and in the best interests of the
Company. Executive shall at all times perform such services in compliance with, and to the extent of his authority, shall to the best of his ability cause the Company to be in compliance with, any and all laws, rules and regulations applicable to
the Company of which Executive is aware. Executive shall, at all times during the Term, in all material respects adhere to and obey any and all written internal rules and regulations governing the conduct of the Company’s employees, as
established or modified from time to time; provided, however, in the event of any conflict between the provisions of this Agreement and any such rules or regulations, the provisions of this Agreement shall control. 

2.2 Location of Services. Executive’s principal place of employment shall be at the Company’s facility in St. Louis
County, Missouri, or at such other location as Executive and the Chief Executive Officer shall agree upon. Executive understands he will be required to travel to the Company’s various operations as part of his employment. 

2.3 Exclusive Service. Except as otherwise expressly provided herein, Executive shall devote his entire business time, attention,
energies, skills, learning and best efforts to the business of the Company. Executive may participate in social, civic, charitable, religious, business, educational or professional associations so long as such participation does not materially
interfere with the duties and obligations of Executive hereunder. This Section 2.3, however, shall not be construed to prevent Executive from making passive outside investments so long as such investments do not require material time of
Executive or otherwise interfere with the performance of Executive’s duties and obligations hereunder. Executive shall not make any investment in an enterprise that competes with the Company without the prior written approval of the Company
after full disclosure of the facts and circumstances; provided, however, that this sentence shall not preclude Executive from owning up to one-half percent (0.5%) of the securities of a publicly traded entity (a “Permissible Investment”).
During the Term, Executive shall not directly or indirectly work for or provide services to or, except as permitted above, own an equity interest in any person, firm or entity engaged in the casino, gaming, card club or horse racing business. In
this regard, and for purposes of this section only, Executive acknowledges that the gaming industry is international in scope and that accordingly this covenant shall apply throughout the United States and in Asia. With the prior approval of the
Board of Directors (which approval may subsequently be revoked by the Board in its discretion) Executive may serve on boards of charitable and not for profit organizations so long as such activities, individually or in the aggregate do not
materially interfere with Executive’s duties hereunder. 
 ARTICLE 3. 

COMPENSATION 

3.1 Base Salary. In consideration for Executive’s services hereunder, the Company shall pay Executive an annual base salary
at the rate of Four Hundred Sixteen Thousand Dollars ($416,000.00) per year during each of the years of the Term; payable in accordance with the Company’s regular payroll schedule from time to time (less any deductions required for Social
Security, state, federal and local withholding taxes, and any other authorized or mandated similar withholdings). 

[341182.EX10_6]3                                     

 
 
 3.2 Annual and
Other Bonuses. Executive shall be entitled to earn bonuses with respect to each year of the Term during which Executive is employed under this Agreement, with a targeted bonus of Eighty Percent (80%) of Executive’s base salary,
determined under the Company’s Annual Performance Based Plan for Executive Officers, or any successor Plan (the “Bonus Plan”). Any such Bonus shall be structured to comply with Section 162(m) of the Internal Revenue Code unless
otherwise determined by the Compensation Committee and shall be based on performance criteria developed by the Compensation Committee. Any such bonus shall be subject to (i) the Executive being employed by the Company on the day after the end
of the Company’s fiscal year or such later date as the Bonus Plan shall specify; and (ii) the Company’s Policy on Recovery of Incentive Compensation in Event of Financial Restatement attached as Appendix A hereto and any other similar
policies. Bonuses relative to partial years shall be prorated. Executive may also receive special bonuses in addition to his annual bonus eligibility at the discretion of the Board of Directors or the Compensation Committee; it being understood that
there is no entitlement thereto hereunder. Any bonuses paid hereunder shall be paid, in the Company’s discretion, in cash and/or restricted stock; provided, however, that Executive’s allocation of cash and restricted stock shall be the
same as that of other senior executive officers for the year. 
 3.3 Equity Awards. The Company may grant to Executive
options or other equity compensation pursuant to, and subject to the terms and conditions of, the then current equity compensation plan of the Company. The Company’s Compensation Committee shall set the amount and terms of such options or other
equity compensation. 
 ARTICLE 4. 
 EXECUTIVE BENEFITS 
 4.1 Vacation. In accordance with the general policies
of the Company applicable generally to other senior executives of the Company pursuant to the Company’s personnel policies from time to time, Executive shall be entitled to not less than four (4) weeks vacation each calendar year, without
reduction in compensation. Vacation expense will not accrue and unused vacation time will not accrue for severance purposes. 

4.2 Benefits. Executive shall receive all other such benefits as the Company may offer to other senior executives of the Company
generally under the Company personnel plans, practices, policies and programs in effect from time to time, such as health and disability insurance coverage, paid sick leave and fully eligible participation in deferred compensation plans. The Company
shall provide Executive coverage for those benefit items made generally available to its senior level executive employees that are not currently covered under Executive’s plan through his previous employer (e.g. short and long-term disability
and so forth) on the same terms provided to its other senior level executive employees. 
 4.3 Indemnification. Executive
shall have the benefit of indemnification to the fullest extent permitted by applicable law, which indemnification shall continue after the termination of 

[341182.EX10_6]4                                     

 

this Agreement for such period as may be necessary to continue to indemnify Executive for his acts while an officer of the Company. In addition, the Company shall cause Executive to be covered by
the Company’s policies of directors and officers liability insurance in effect from time to time in accordance with their terms, to the maximum extent of the coverage available for any officer of the Company. In the event of any merger or other
acquisition of the Company, the Company shall, no later than immediately prior to consummation of such transaction, purchase “tail” coverage under the officers liability insurance in effect at the time of such merger or acquisition.

 ARTICLE 5. 
 REIMBURSEMENT FOR EXPENSES 
 5.1 Executive shall be reimbursed by the Company for
all ordinary and necessary expenses incurred by Executive in the performance of his duties or otherwise in furtherance of the business of the Company in accordance with the policies of the Company in effect from time to time. Executive shall keep
accurate and complete records of all such expenses, including but not limited to, proof of payment and purpose. Executive shall account fully for all such expenses to the Company. No reimbursement will be made later than the close of the calendar
year following the calendar year in which the expense was incurred. Expenses eligible for reimbursement in any one taxable year shall not affect the amount of expenses eligible for reimbursement in any other taxable year, and the right to expense
reimbursement shall not be subject to liquidation or exchange for any other benefit. 
 ARTICLE 6. 

TERMINATION 

6.1 Termination for Cause. Without limiting the generality of Section 6.3, the Company shall have the right to terminate
Executive’s employment, without further obligation or liability to Executive, upon the occurrence of any one or more of the following events, which events shall be deemed termination for cause (“Cause”). 

6.1.1 Failure to Perform Duties. If Executive neglects to perform the material duties of his employment under this Agreement in a
professional and businesslike manner, other than due to his Disability (unless such Disability is due to substance or alcohol abuse), after having received thirty (30) days written notice specifying such failure to perform and a reasonable
opportunity to perform. 
 6.1.2 Willful Breach. If Executive willfully commits a material breach of this Agreement and
fails to cure such breach within thirty (30) days of written notice thereof or a material willful breach of his fiduciary duty to the Company. 
 6.1.3 Wrongful Acts. If Executive is convicted of a felony or misdemeanor involving acts of moral turpitude or commits fraud, misrepresentation, embezzlement or other acts of material misconduct
against the Company (including violating or condoning the violation of any material rules or regulations of gaming authorities which could have a material adverse effect on the Company) that would make the continuance of his employment by the
Company materially detrimental to the Company. 

[341182.EX10_6]5                                     

 
 
 6.1.4 Failure To Be
Licensed or Approved by the Company’s Compliance Committee. Executive shall promptly, accurately and truthfully complete all forms provided by the Company’s Compliance Committee and shall fully cooperate in any background investigation
conducted pursuant to the Company’s Compliance Program. Executive shall also promptly apply for all applicable gaming licenses, if required, to the extent Executive is not already licensed or on file as of the date hereof. If Executive fails to
be recommended for approval and retention by the Compliance Committee or Executive fails to be licensed in all jurisdictions in which the Company or its subsidiaries has gaming facilities within the date required by any jurisdiction, or if any of
such licenses shall be revoked or suspended at any time during the Term, or if the Company is directed to cease business with Executive by any governmental authority; or if the Company determines in its reasonable judgment that Executive was or
might be involved in, or is about to be involved in, any activity, relationship(s) or circumstance which could or does jeopardize the Company’s business, reputation or any of such licenses; or any of the Company’s licenses is threatened to
be, or is, denied, curtailed, suspended or revoked as a result of Executive’s employment by the Company or as a result of his actions, then the Company may by thirty (30) days written notice to Executive terminate the Agreement for Cause.
Executive agrees to promptly submit to the licensing requirements of all jurisdictions in which the Company or its subsidiaries does business. The Company shall bear all expenses incurred in connection with such licenses. 

6.2 Death or Disability. This Agreement shall terminate on the death or “Disability” of Executive. Executive will be
deemed to have a “Disability” when he is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a
substantially continuous period of not less than one hundred eighty (180) days, or begins receiving income replacement benefits for a period of not less than three months under an accident and health plan of the Company or an affiliate by
reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than six (6) months. If there should be a dispute between the Company and
Executive as to Executive’s physical or mental Disability for purposes of this Agreement, the question shall be settled by the opinion of an impartial reputable physician or psychiatrist agreed upon by the parties or their representatives, or
if the parties cannot agree within ten (10) days after a request for designation of such party, then a physician or psychiatrist designated by the Clark County Medical Association or similar body. The certification of such a physician or
psychiatrist as to the questioned dispute shall be final and binding upon the parties hereto. 
 6.3 Termination Without
Cause. Notwithstanding anything to the contrary herein, the Company shall have the right to terminate Executive’s employment under this Agreement at any time without Cause by giving thirty (30) days written notice of such termination
to Executive. Failure by the Company to extend the Term for any Renewal Period shall not be a termination of this Agreement Without Cause. 

[341182.EX10_6]6                                     

 
 
 6.4 Termination by
Executive for Good Reason. Executive may terminate his employment under this Agreement on thirty (30) days prior notice to the Company for good reason (“Good Reason”). For purposes of this Agreement, “Good Reason” shall
mean and be limited to (i) a material breach of this Agreement by the Company (including without limitation the assignment to Executive of duties materially inconsistent with his status as Executive Vice President, Regional Operations of the
Company), or any material reduction in the authority, duties or responsibilities of Executive; (ii) any relocation of his or its principal place of business in Missouri outside the greater St. Louis County area (without Executive’s
consent); (iii) a material reduction by the Company in Executive’s then Base Salary or Bonus targets, a material reduction in other benefits (except as such benefits may be changed or reduced for other senior executives), or the failure by
the Company to pay Executive any material portion of his current compensation when due; or (iv) following a Change in Control, (A) the failure of any acquiring or successor company, or, if the acquiring or successor company is a subsidiary
of another company, the failure of the highest-level parent of the acquiring or successor company, to enter into an agreement naming Executive as the Executive Vice President, Regional Operations of the acquiring or successor company, or of the
highest-level parent, as the case may be; or (B) Executive’s termination for Good Reason from the Company and any parent entity or termination without cause by the Company and any parent entity within eighteen (18) months of a Change
in Control. Notwithstanding the foregoing, except with respect to a termination by Executive following a Change in Control, Executive’s resignation shall not be treated as a resignation for Good Reason unless (a) Executive notifies the
Company (including any acquiring and/or successor company) in writing of a condition constituting Good Reason within thirty (30) days following Executive’s becoming aware of such condition; (b) the Company fails to remedy such
condition within thirty (30) days following such written notice (the “Remedy Period”); and (c) Executive resigns within thirty (30) days following the expiration of the Remedy Period. Further, in the event that
Executive resigns for Good Reason and within two years from such date accepts employment with the Company, any acquirer or successor to the Company’s business or any affiliate, parent, or subsidiary of either the Company or its successor, then
Executive will forfeit any right to severance payments hereunder and will reimburse the Company for the full amount of such payments received by Executive within thirty (30) days of accepting such employment. 

6.5 Effect of Termination. 
 6.5.1 Payment of Salary and Expenses Upon Termination. Any termination under this Section 6 shall be effective upon receipt of notice by Executive or the Company, as the case may be, of such
termination or upon such other later date as may be provided herein or specified by the Company or Executive in the notice (the “Termination Date”), except as otherwise provided in this Section 6. If this Agreement is terminated, all
benefits provided to Executive by the Company hereunder shall thereupon cease, except as provided in this Section 6.5, and the Company shall pay or cause to be paid to Executive all accrued but unpaid base salary, any compensation previously
voluntarily deferred by Executive payable in accordance with the provisions of the applicable deferred compensation plan and in accordance with Executive’s election under such plan, and, except in the case of Termination for Cause, as
additional severance and notwithstanding the provisions of Section 3.2 hereof, a prorated bonus for the year of termination. Such prorated bonus shall be determined and paid as follows:
(a)

[341182.EX10_6]7                                     

 

First, the performance criteria shall be applied to the entire year of termination to determine the bonus that Executive would have received for the entire year if his employment had not
terminated, (b) Second, amount determined under clause (a) of this sentence shall be multiplied by a fraction, the numerator of which is the number of days in the year before the date of the termination of Executive’s employment and
the denominator of which is three hundred sixty five (365), to determine the amount of the prorated bonus, and (c) Third, the prorated bonus shall be paid at the times and in the form specified when the Compensation Committee determined the
performance criteria for the year, or, if no such time was then specified, within ninety (90) days after the end of the year in which the termination of employment occurred. If at the Termination Date, Executive shall have satisfied all the
requirements to earn an annual bonus relative to the calendar year immediately preceding the Termination Date but such bonus has not yet been paid, then except in the case of a Termination for Cause, such bonus shall be paid to Executive at the same
time such bonus was otherwise scheduled to have been paid. In addition, promptly upon submission by Executive of his unpaid expenses incurred prior to the Termination Date and owing to Executive pursuant to Article 5, reimbursement for such expenses
shall be made. If the Agreement is terminated for “Cause,” or by the Executive without “Good Reason”, Executive shall not be entitled to receive any payments other than as specified in this Section 6.5.1. Termination by the
Company for Cause shall be in addition to and without prejudice to any other right or remedy that the Company may be entitled to at law, in equity, or under this Agreement. 
 6.5.2 Termination Without Cause or Termination by Executive for Good Reason Other than in Connection with a Change of Control or due to Death or Disability. If the Company terminates Executive
without Cause or Executive terminates for Good Reason other than in connection with a Change of Control as contemplated by Section 6.5.3, or due to death or disability, the following shall apply (but, except as provided in Section 9.2
hereof, only clause (b) hereof in the case of death or disability): 
  

	 	(a)	Executive shall be entitled to receive an amount equal to one hundred fifty percent (150%) times (i) Executive’s annual base salary (the “Base
Severance Benefit”) in effect on the date of termination; plus (ii) the Bonus Amount (as hereinafter defined). The Bonus Amount shall equal the average annual bonus paid to Executive in the three years prior to termination (or such shorter
period, during which Executive is employed); provided, however, for purposes of calculating the Bonus Amount, any bonus paid to Executive for any period less than a full calendar year shall be annualized. The Base Severance Benefit shall be paid to
Executive in equal monthly installments over eighteen (18) months immediately following the date of termination in accordance with the Company’s regular salary payment schedule from time to time. The Bonus Amount shall be paid in two equal
annual installments on the first and second anniversaries of the termination of employment. In addition, Executive shall be entitled to receive any amounts payable under Section 6.5.1 above. The payments contemplated herein shall not be subject
to any duty of mitigation by Executive nor to offset for any income earned by Executive following termination. 

[341182.EX10_6]8                                     

 
 

	 	(b)	Executive shall also be entitled to receive health benefits coverage for Executive and his dependents, and disability insurance coverage for Executive, under the same
plan(s) or arrangement(s) under which Executive and his dependents were covered immediately before his death or Disability or plan(s) established or arrangement(s) provided by the Company or any of its Subsidiaries thereafter for the benefit of
senior executives (the “Health and Disability Coverage Continuation”) until the earliest of (i) eighteen (18) months; and (ii) the date Executive (and in the case of his dependents, the dependents) becomes covered or
eligible for coverage under any other group health plan or group disability plan (as the case may be) not maintained by the Company or any of its Subsidiaries; provided, however, that if such other group health plan excludes any pre-existing
condition that Executive or Executive’s dependents may have when coverage under this Section 6.5.2 shall continue (but not beyond the period described in clause (i) of this sentence) with respect to such pre-existing condition until
such exclusion under such other group health plan lapses or expires. Executive or his dependents, as the case may be, shall pay any applicable premiums or other required payments for their health coverage on the same basis as other senior executives
of the Company. In the event Executive is required to make an election under Sections 601 through 607 of the Employee Retirement Income Security Act of 1974, as amended (commonly known as COBRA) to qualify for the benefits described in this
Section 6.5.2, the obligations of the Company and its Subsidiaries under this Section 6.5.2 shall be conditioned upon Executive’s timely making such an election. Nothing contained herein shall prevent Executive or his dependents from
securing continued coverage under COBRA at their own expense to the extent permitted by COBRA or otherwise applicable law. Any payment or reimbursement of benefits under this Section 6.5.2 that is taxable to Executive or his dependents shall be
made by December 31 of the calendar year following the calendar year in which Executive or his dependent incurred the expense. Expenses eligible for reimbursement in any one taxable year shall not affect the amount of expenses eligible for
reimbursement in any other taxable year, and the right to expense reimbursement shall not be subject to liquidation or exchange for any other benefit. 

  

	 	(c)	 Any outstanding unvested stock options, restricted stock or restricted stock units (collectively “Equity Grants”) at the date of termination
which would otherwise vest during the twelve (12)

[341182.EX10_6]9                                     

	 	
months following termination shall immediately become vested and may be exercised in accordance with their terms for the period provided in Section 6.6. The remaining unvested Equity Grants
shall immediately terminate. 

 
6.5.3 Termination Without Cause or Termination by Executive for Good Reason in
Connection With or Within the Eighteen (18) Months After a Change of Control. If the Company terminates Executive without Cause or Executive terminates for Good Reason in connection with or within eighteen (18) months after a Change of
Control, the following shall apply: 
  

	 	(a)	The Company shall pay to Executive in lieu of the Base Severance Benefit, in a lump sum as soon as practicable, but in no event later than thirty (30) days after
the termination of Executive’s employment, (i) an amount (the “Change of Control Severance Benefit”) equal to one hundred fifty percent (150%) of the sum of Executive’s annual base salary in effect on the date of
termination and the Bonus Amount, plus (ii) any amounts payable under Section 6.5.1. In addition, Executive shall also be entitled to receive continuation of health and disability insurance coverage as specified in Section 6.5.2(b)
and all unvested Equity Grants, including any unvested replacement Equity Grants that may have been granted to Executive to replace unvested Equity Grants that expired by their terms in connection with a Change of Control, shall immediately become
vested and may be exercised in accordance with their terms and Section 6.6 hereof. To the extent that any unvested Equity Grants terminate by their terms at the time of or in connection with a Change of Control and replacement Equity Grants of
at least equivalent value are not granted to Executive, the Executive shall receive as additional cash severance at the time of termination the consideration paid for the securities underlying the unvested expired Equity Grants at the time of the
Change of Control less, to the extent applicable, (a) the exercise price or other consideration payable by Executive for the Equity Grants; and (b) the value of any replacement Equity Grants realized by Executive through or as a result of
such termination. 

  

	 	(b)	For purposes of this Agreement, a “Change of Control” shall mean the occurrence of any of the following: 

 

	 	(i)	The direct or indirect acquisition by an unrelated “Person” or “Group” or “Beneficial Ownership” (as such terms are defined below) of more
than 50% of the voting power of the Company’s issued and outstanding voting securities in a single transaction or a series of related transactions; 

[341182.EX10_6]10                                     

 
 

	 	(ii)	The direct or indirect sale or transfer by the Company of substantially all of its assets to one or more unrelated Persons or Groups in a single transaction or a series
of related transactions; 

  

	 	(iii)	The merger, consolidation or reorganization of the Company with or into another corporation or other entity in which the Beneficial Owners of more than 50% of the
voting power of the Company’s issued and outstanding voting securities immediately before such merger or consolidation do not own more than 50% of the voting power of the issued and outstanding voting securities of the surviving corporation or
other entity immediately after such merger, consolidation or reorganization; or 

  

	 	(iv)	During any consecutive 12-month period, individuals who at the beginning of such period constituted the Board of the Company (together with any new Directors whose
election to such Board or whose nomination for election by the stockholders of the Company was approved by a vote of a majority of the Directors of the Company then still in office who were either Directors at the beginning of such period or whose
election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of the Company then in office. 

 None of the foregoing events, however, shall constitute a Change of Control if such event is not a “Change in Control Event” under Treasury Regulation Section 1.409A-3(i)(5) or successor
IRS guidance. For purposes of determining whether a Change of Control has occurred, the following Persons and Groups shall not be deemed to be “unrelated”: (A) such Person or Group directly or indirectly has Beneficial Ownership of
more than 50% of the issued and outstanding voting power of the Company’s voting securities immediately before the transaction in question, (B) the Company has Beneficial Ownership of more than 50% of the voting power of the issued and
outstanding voting securities of such Person or Group, or (C) more than 50% of the voting power of the issued and outstanding voting securities of such Person or Group are owned, directly or indirectly, by Beneficial Owners of more than 50% of
the issued and outstanding voting power of the Company’s voting securities immediately before the transaction in question. The terms “Person,” “Group,” “Beneficial Owner,” and “Beneficial Ownership” shall
have the meanings used in the Securities Exchange Act of 1934, as amended. Notwithstanding the foregoing, (I) Persons shall not be considered to be acting as a “Group” solely because they purchase or own stock of the Company at the
same time, or as a result of the same public offering, (II) however, Persons will be considered to be acting as “Group” if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or
similar business transaction, with the Company, and (III) if a Person, including an entity, owns stock both in the Company and in a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar transaction,
with the Company, such shareholders shall be considered to be acting as a Group with other shareholders only with respect to the ownership in the corporation before the transaction. 

[341182.EX10_6]11                                     

 
 
 6.5.4 I.R.C.
Section 409A. (a) The compensation arrangements under this Agreement are intended to comply with, or be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated
thereunder (collectively “Code Section 409A”), and will be interpreted in a manner intended to comply with, or be exempt from, Code Section 409A. If any payment of money or other benefits due to the Executive hereunder could
cause the application of an accelerated or additional tax under Code Section 409A (a “409A Tax”), the Company, in its sole discretion, may decide such payments or other benefits shall be restructured, to the extent possible, in a
manner, determined by the Company, that does not cause such 409A Tax; provided, however, neither the Company, nor its respective officers, employees and/or representatives, shall have any liability to the Executive with respect to any such
determination, or any such taxes, interest or penalties, or liability for any other alleged damages related thereto. (b) In the event that any compensation with respect to Executive’s separation from service is “deferred
compensation” within the meaning of Code Section 409A, the stock of the Company or any affiliate is publicly traded on an established securities market or otherwise, and Executive is determined to be a “specified employee,” as
defined in Section 409A(a)(2)(B)(i) of the Code, payment of such compensation shall be delayed as required by Code Section 409A. Such delay shall last six (6) months from the date of Executive’s separation from service, except in
the event of Executive’s death. Within thirty (30) days following the end of such six-month period, or, if earlier, Executive’s death, the Company will make a catch-up payment to Executive equal to the total amount of such payments
that would have been made during the six-month period but for this Section 6.5.4. Whenever payments under this Agreement are to be made in installments, each such installment shall be deemed to be a separate payment for purposes of
Section 409A. Payments of compensation or benefits on Executive’s termination of employment (other than accrued salary and other accrued amounts that must be paid under applicable law, and “welfare benefits” specified in Treasury
Regulations Section 1.409A-1(a)(5)) shall be paid only if and when the termination of employment constitutes a “separation from service” under Treasury Regulation Section 1.409A-1(h). 

6.5.5 Suspension. In lieu of terminating Executive’s employment hereunder for Cause under Section 6.1, the Company shall
have the right, at its sole election, to suspend the performance of duties by Executive under this Agreement during the continuance of events or circumstances under Section 6.1 for an aggregate of not more than thirty (30) days during the
Term (the “Default Period”) by giving Executive written notice of the Company’s election to do so at any time during the Default Period. The Company shall have the right to extend the Term beyond its normal expiration date by the
period(s) of any suspension(s). The Company’s exercise of its right to suspend the operation of this Agreement shall not preclude the Company from subsequently terminating Executive’s employment hereunder; provided nothing herein shall
eliminate the Company’s obligation to provide required written notice, or prevent Executive from having the opportunity to cure any defect raised in such notice, to the extent applicable under the relevant subsection of Section 6.1.
Executive shall not render services to any other person, firm or corporation in the casino business during any period of suspension. Executive shall be entitled to continued compensation and benefits pursuant to the provisions of this Agreement
during the Default Period. 

[341182.EX10_6]12                                     

 
 
 6.6 Exercisability
of Equity Grants. All vested Equity Grants will terminate on the earlier of (a) the expiration of their stated terms or (b) one (1) year after the termination of Executive’s employment with the Company, regardless of the
cause of such termination, except that, in the event of a termination for “Cause” or Executive’s termination without Good Reason, all vested Equity Grants will terminate on the earlier of (I) the expiration of the stated term, or
(II) thirty (30) days after the termination. As provided in the Equity Grant agreements, unvested Equity Grants will terminate on the termination of Executive’s continuous status as an employee, director, or consultant with the Company,
except to the extent that such Equity Grants become vested as a result of such termination under the terms of the governing Equity Grant agreement or this Agreement. 
 6.7 No-Exclusivity of Rights. Nothing in this Agreement shall prevent or limit Executive’s continuing or future participation in any plan, program, policy or practice provided by the Company
or its subsidiaries and for which the Executive may qualify, nor shall anything herein limit or otherwise affect such rights as Executive may have under any other contract or agreement with the Company or its subsidiaries at or subsequent to the
Date of Termination (“Other Benefits”), which such Other Benefits shall be payable in accordance with such plan, policy, practice or program or contract or agreement, except as explicitly modified by this Agreement. Notwithstanding the
foregoing, if Executive receives payments and benefits pursuant to Article VI of this Agreement, Executive shall not be entitled to any severance pay or benefits under any severance plan, program or policy of the Company and its subsidiaries, unless
otherwise specifically provided therein in a specific reference in or to this Agreement. 
 6.8 Full Settlement. Except
as expressly provided for herein, in no event shall Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement and such amounts
shall not be reduced whether or not Executive obtains other employment. 
 6.9 Release. It shall be a condition for
Executive’s right to receive any severance benefits hereunder that he execute a general release in favor of the Company and its affiliates in the form as attached hereto as Appendix B and covering such additional matters as may be reasonably
requested by the Company, which release shall not encompass the payments contemplated hereby. The timing of payments under this Agreement upon the execution of the general release shall be governed by the following provisions: 

 

	 	(a)	The Company must deliver the release to Executive for execution no later than fourteen (14) days after Executive’s termination of employment. If the Company
fails to deliver the release to Executive within such fourteen (14) day period, Executive will be deemed to have satisfied the release requirement and will receive payments conditioned on execution of the release as though Executive had
executed the release and all revocation rights had lapsed at the end of such fourteen (14) day period. 

[341182.EX10_6]13                                     

 
 

	 	(b)	Executive must execute the release within forty-five (45) days from its delivery to him. 

 

	 	(c)	If Executive has revocation rights, Executive shall exercise such rights, if at all, not later than seven (7) days after executing the release.

  

	 	(d)	In any case in which the release (and the expiration of any revocation rights) could only become effective in a particular tax year of Executive, payments conditioned
on execution of the release shall begin within twenty (20) days after the release becomes effective and revocation rights have lapsed. 

  

	 	(e)	In any case in which the release (and the expiration of any revocation rights) could become effective in one of two taxable years of Executive depending on when
Executive executes the release, payments conditioned on execution of the release shall not begin before the first business day of the later of such tax years. 

 6.10 Excise Tax Limitation. 
 6.10.1 Notwithstanding anything contained in this
Agreement to the contrary, (i) in the event that any payment or benefit (within the meaning of Section 280G(b)(2) of the Code) to be paid or made payable to Executive or for Executive’s benefit pursuant to the terms of this Agreement
or otherwise in connection with, or arising out of, Executive’s employment with the Company or any of its Subsidiaries on a “change of control” within the meaning of Section 280G of the Code (a “Payment” or
“Payments”) would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), and (ii) (A) the net amount of the Payments Executive would retain after payment of the Excise Tax and federal
and state income taxes on the Payments would be less than (B) the net amount of the Payments Executive would retain, after payment of the Excise Tax and federal and state income taxes on the Payments, if the Payments were reduced to the extent
necessary that no portion of the Payments would be subject to the Excise Tax (the “Section 4999 Limit”), then the Payments shall be reduced (but not below zero) to the Section 4999 Limit. Unless Executive shall have given prior
written notice specifying a different order to the Company to effectuate the limitations described in the preceding sentence, the Company shall reduce or eliminate the Payments by first reducing or eliminating those Payments or benefits which are
not payable in cash and then by reducing or eliminating cash Payments, in each case in reverse order beginning with payments or benefits which are to be paid the farthest in time from the Determination (as hereinafter defined). Any notice given by
Executive pursuant to the preceding sentence shall take precedence over the provisions of any other Agreement, arrangement or agreement governing Executive’s rights and entitlements to any benefits or compensation. For purposes of the
calculations described above, it shall be assumed that Executive’s tax rate will be the maximum marginal federal and state income tax rate on earned income. 

[341182.EX10_6]14                                     

 
 
 6.10.2 All
determinations required to be made under this Section 6.10 (each, a “Determination”) shall be made, at the Company’s expense, by the accounting firm which is the Company’s accounting firm prior to a “change of
control” (within the meaning of Section 280G of the Code) or another nationally recognized accounting firm designated by the Board (or a committee thereof) prior to the change of control (the “Accounting Firm”). The Accounting
Firm shall provide its calculations, together with detailed supporting documentation, both to the Company and to Executive before payment of Executive’s Severance Payment hereunder (if requested at that time by the Company or Executive) or such
other time as requested by the Company or Executive (in either case provided that the Company or Executive believes in good faith that any of the Payments may be subject to the Excise Tax). Within ten (10) calendar days of the delivery of the
Determination to Executive, Executive shall have the right to dispute the Determination (the “Dispute”). The existence of any Dispute shall not in any way affect Executive’s right to receive the Payments in accordance with the
Determination. If there is no Dispute, the Determination by the Accounting Firm shall be final, binding and conclusive upon the Company and Executive, subject to the application of Section 6.10.3. 

6.10.3 As a result of the uncertainty in the application of Sections 4999 and 280G of the Code, it is possible that the Payments either
will have been made or will not have been made by the Company, in either case in a manner inconsistent with the limitations provided in Section 6.10.1 (an “Excess Payment” or “Underpayment”, respectively). If it is
established pursuant to (i) a final determination of a court for which all appeals have been taken and finally resolved or the time for all appeals has expired, or (ii) an Internal Revenue Service (the “IRS”) proceeding which has
been finally and conclusively resolved, that an Excess Payment has been made, such Excess Payment shall be deemed for all purposes to be a loan to Executive made on the date Executive received the Excess Payment and Executive shall repay the Excess
Payment to the Company on demand, together with interest on the Excess Payment at one hundred twenty percent (120%) of the applicable federal rate (as defined in Section 1274(d) of the Code) compounded semi-annually from the date of
Executive’s receipt of such Excess Payment until the date of such repayment. If it is determined (i) by the Accounting Firm, the Company (which shall include the position taken by the Company, together with its consolidated group, on its
federal income tax return) or the IRS, (ii) pursuant to a determination by a court, or (iii) upon the resolution to Executive’s satisfaction of the Dispute, that an Underpayment has occurred, the Company shall pay an amount equal to
the Underpayment to Executive within ten (10) calendar days of such determination or resolution, together with interest on such amount at one hundred twenty percent (120%) of the applicable federal rate compounded semi-annually from the
date such amount should have been paid to Executive pursuant to the terms of this Agreement or otherwise, but for the operation of this Section 6.10.3, until the date of payment. 

ARTICLE 7. 

CONFIDENTIALITY 

7.1 Nondisclosure of Confidential Material. In the performance of his duties, Executive may have access to confidential records,
including, but not limited to, development, marketing, organizational, financial, managerial, administrative and sales information, data, specifications and processes presently owned or at any time hereafter developed or used by the

[341182.EX10_6]15                                     

 

Company or its agents or consultants that is not otherwise part of the public domain (collectively, the “Confidential Material”). All such Confidential Material is considered secret and
is disclosed to Executive in confidence. Executive acknowledges that the Confidential Material constitutes proprietary information of the Company which draws independent economic value, actual or potential, from not being generally known to the
public or to other persons who could obtain economic value from its disclosure or use, and that the Company has taken efforts reasonable under the circumstances, of which this Section 7.1 is an example, to maintain its secrecy. Except in the
performance of his duties to the Company or as required by a court order or any gaming regulator or as required for his personal tax or legal advisors to advise him, Executive shall not, directly or indirectly for any reason whatsoever, disclose,
divulge, communicate, use or otherwise disclose any such Confidential Material, unless such Confidential Material ceases to be confidential because it has become part of the public domain (not due to a breach by Executive of his obligations
hereunder). Executive shall also take all reasonable actions appropriate to maintain the secrecy of all Confidential Information. All records, lists, memoranda, correspondence, reports, manuals, files, drawings, documents, equipment, and other
tangible items (including computer software), wherever located, incorporating the Confidential Material, which Executive shall prepare, use or encounter, shall be and remain the Company’s sole and exclusive property and shall be included in the
Confidential Material. Upon termination of this Agreement, or whenever requested by the Company, Executive shall promptly deliver to the Company any and all of the Confidential Material, not previously delivered to the Company, that is in the
possession or under the control of Executive. 
 7.2 Assignment of Intellectual Property Rights. Any ideas, processes,
know-how, copyrightable works, maskworks, trade or service marks, trade secrets, inventions, developments, discoveries, improvements and other matters that may be protected by intellectual property rights, that relate to the Company’s business
and are the results of Executive’s efforts during the Term (collectively, the “Executive Work Product”), whether conceived or developed alone or with others, and whether or not conceived during the regular working hours of the
Company, shall be deemed works made for hire and are the property of the Company. In the event that for whatever reason such Executive Work Product shall not be deemed a work made for hire, Executive agrees that such Executive Work Product shall
become the sole and exclusive property of the Company, and Executive hereby assigns to the Company his entire right, title and interest in and to each and every patent, copyright, trade or service mark (including any attendant goodwill), trade
secret or other intellectual property right embodied in Executive Work Product. The Company shall also have the right, in its sole discretion to keep any and all of Executive Work Product as the Company’s Confidential Material. The foregoing
work made for hire and assignment provisions are and shall be in consideration of this agreement of employment by the Company, and no further consideration is or shall be provided to Executive by the Company with respect to these provisions.
Executive agrees to execute any assignment documents the Company may require confirming the Company’s ownership of any of Executive Work Product. Executive also waives any and all moral rights with respect to any such works, including without
limitation any and all rights of identification of authorship and/or rights of approval, restriction or limitation on use or subsequent modifications. Executive promptly will disclose to the Company any Executive Work Product. 

[341182.EX10_6]16                                     

 
 
 7.3 No Unfair
Competition After Termination of Agreement. Executive hereby acknowledges that the sale or unauthorized use or disclosure of any of the Company’s Confidential Material obtained by Executive by any means whatsoever, at any time before,
during or after the Term shall constitute unfair competition. Executive shall not engage in any unfair competition with the Company either during the Term or at any time thereafter. 

7.4 Covenant Not to Compete. In the event this Agreement is terminated by the Company or by Executive, for a reason other than one
specified in Section 6.2 above or the expiration of the Initial Term or any Renewal Term without this Agreement being renewed, then for a period of one (1) year after the effective date of such termination (but only six (6) months in
the case of an entity whose only competitive relationship with the Company is in the market in which the Company has its principal place of business but does not also own or manage a casino), Executive shall not, directly or indirectly, work for or
provide services to or own an equity interest (except for a Permissible Investment) in any person, firm or entity engaged (directly or indirectly or through an investment in another entity) in the casino, gaming, card club or horseracing business
which competes against the Company in any “market” in which the Company has its principal place of business or in which the Company owns (in whole or in part, directly or through an investment in another entity) or operates a casino, card
club or horseracing facility. For purposes of this Agreement, “market” shall be defined as the area within a 100 mile radius of the Company’s principal place of business or of any casino, card club or horseracing facility owned (in
whole or in part, directly or through an investment in another entity) or operated or under construction by the Company. 
 7.5
No Hire Away Policy. In the event this Agreement is terminated prior to the normal expiration of the Term, either by the Company, or by Executive, for any reason, then for a period of one (1) year after the effective date of such
termination, Executive shall not, directly or indirectly, for himself or on behalf of any entity with which he is affiliated or employed, hire any person known to Executive to be an employee of the Company or any of its subsidiaries (or any person
known to Executive to have been such an employee within six (6) months prior to such occurrence). Executive shall not be deemed to hire any such person so long as he did not directly or indirectly engage in or encourage such hiring. 

7.6 No Solicitation. During the Term and for a period of one (1) year thereafter, or, if sooner, for a period of one
(1) year after earlier termination of this Agreement prior to expiration of the Term, and regardless of the reason for such termination (whether by the Company or Executive), Executive shall not directly or indirectly, for himself or on behalf
of any entity with which he is affiliated or employed, solicit any employee of the Company or any of its subsidiaries (or any person who was such an employee within six (6) months prior to such occurrence) or encourage any such employee to
leave the employment of the Company or any of its subsidiaries. 
 7.7 Non-Solicitation of Customers. During the Term and
for a period of one (1) year thereafter, or, if sooner, for a period of one (1) year after the earlier termination of this Agreement prior to the expiration of the Term, and regardless of the reason for such termination (whether by the
Company or Executive), Executive shall not solicit any customers of the Company or its subsidiaries or any of their respective casinos or card clubs, or knowingly 

[341182.EX10_6]17                                     

 

encourage any such customers to leave the Company’s casinos or card clubs or knowingly encourage any such customers to use the facilities or services of any competitor of the Company or its
subsidiaries. Executive shall at no times use proprietary customer lists or Confidential Material to solicit customers. 
 7.8
Irreparable Injury. The promised service of Executive under this Agreement and the other promises of this Article 7 are of special, unique, unusual, extraordinary, or intellectual character, which gives them peculiar value, the loss of which
cannot be reasonably or adequately compensated in damages in an action at law. 
 7.9 Remedies for Breach. Executive
agrees that money damages will not be a sufficient remedy for any breach of the obligations under this Article 7 and Article 2 hereof and that the Company shall be entitled to injunctive relief (which shall include, but not be limited to,
restraining Executive from directly or indirectly working for or having an ownership interest (except for a Permissible Investment) in any person engaged in the casino, gaming or horseracing businesses in any market which the Company or its
affiliates owns or operates any such business, using or disclosing the Confidential Material) and to specific performance as remedies for any such breach. Executive agrees that the Company shall be entitled to such relief, including temporary
restraining orders, preliminary injunctions and permanent injunctions, without the necessity of proving actual damages and without the necessity of posting a bond or making any undertaking in connection therewith. Any such requirement of a bond or
undertaking is hereby waived by Executive and Executive acknowledges that in the absence of such a waiver, a bond or undertaking might otherwise be required by the court. Such remedies shall not be deemed to be the exclusive remedies for any breach
of the obligations in this Article 7, but shall be in addition to all other remedies available at law or in equity. 
 ARTICLE 8.

 ARBITRATION 
 8.1 General. Except for a claim for injunctive relief under Section 7.9, any controversy, dispute, or claim between the parties to this Agreement, including any claim arising out of, in
connection with, or in relation to the formation, interpretation, performance or breach of this Agreement shall be settled exclusively by arbitration, before a single arbitrator, in accordance with this Article 8 and the then most applicable rules
of the American Arbitration Association. Judgment upon any award rendered by the arbitrator may be entered by any state or federal court having jurisdiction thereof. Such arbitration shall be administered by the American Arbitration Association.
Arbitration shall be the exclusive remedy for determining any such dispute, regardless of its nature. Notwithstanding the foregoing, either party may in an appropriate matter apply to a court for provisional relief, including a temporary restraining
order or a preliminary injunction, on the ground that the award to which the applicant may be entitled in arbitration may be rendered ineffectual without provisional relief. Unless mutually agreed by the parties otherwise, any arbitration shall take
place in Las Vegas, Nevada. 
 8.2 Selection of Arbitrator. In the event the parties are unable to agree upon an
arbitrator, the parties shall select a single arbitrator from a list of nine arbitrators drawn by the 

[341182.EX10_6]18                                     

 

parties at random from the “Independent” (or “Gold Card”) list of retired judges or, at the option of Executive, from a list of nine persons (which shall be retired judges or
corporate or litigation attorneys experienced in executive employment agreements) provided by the office of the American Arbitration Association having jurisdiction over Las Vegas, Nevada. If the parties are unable to agree upon an arbitrator from
the list so drawn, then the parties shall each strike names alternately from the list, with the first to strike being determined by lot. After each party has used four strikes, the remaining name on the list shall be the arbitrator. If such person
is unable to serve for any reason, the parties shall repeat this process until an arbitrator is selected. 
 8.3
Applicability of Arbitration; Remedial Authority. This agreement to resolve any disputes by binding arbitration shall extend to claims against any parent, subsidiary or affiliate of each party, and, when acting within such capacity, any
officer, director, stockholder, employee or agent of each party, or of any of the above, and shall apply as well to claims arising out of state and federal statutes and local ordinances as well as to claims arising under the common law. In the event
of a dispute subject to this paragraph the parties shall be entitled to reasonable discovery subject to the discretion of the arbitrator. The remedial authority of the arbitrator (which shall include the right to grant injunctive or other equitable
relief) shall be the same as, but no greater than, would be the remedial power of a court having jurisdiction over the parties and their dispute. The arbitrator shall, upon an appropriate motion, dismiss any claim without an evidentiary hearing if
the party bringing the motion establishes that he or it would be entitled to summary judgment if the matter had been pursued in court litigation. In the event of a conflict between the applicable rules of the American Arbitration Association and
these procedures, the provisions of these procedures shall govern. 
 8.4 Fees and Costs. Any filing or administrative
fees shall be borne initially by the party requesting arbitration. The Company shall be responsible for the costs and fees of the arbitration, unless Executive wishes to contribute (up to 50%) of the costs and fees of the arbitration.
Notwithstanding the foregoing, the prevailing party in such arbitration, as determined by the arbitrator, and in any enforcement or other court proceedings, shall be entitled, to the extent permitted by law, to reimbursement from the other party for
all of the prevailing party’s costs (including but not limited to the arbitrator’s compensation), expenses, and attorneys’ fees. 
 8.5 Award Final and Binding. The arbitrator shall render an award and written opinion, and the award shall be final and binding upon the parties. If any of the provisions of this paragraph, or of
this Agreement, are determined to be unlawful or otherwise unenforceable, in whole or in part, such determination shall not affect the validity of the remainder of this Agreement, and this Agreement shall be reformed to the extent necessary to carry
out its provisions to the greatest extent possible and to insure that the resolution of all conflicts between the parties, including those arising out of statutory claims, shall be resolved by neutral, binding arbitration. If a court should find
that the arbitration provisions of this Agreement are not absolutely binding, then the parties intend any arbitration decision and award to be fully admissible in evidence in any subsequent action, given great weight by any finder of fact, and
treated as determinative to the maximum extent permitted by law. 

[341182.EX10_6]19                                     

 
ARTICLE 9. 
 MISCELLANEOUS 
 9.1 Amendments. The provisions of this Agreement may not be
waived, altered, amended or repealed in whole or in part except by the signed written consent of the parties sought to be bound by such waiver, alteration, amendment or repeal. 

9.2 Entire Agreement. This Agreement and the stock option and other equity grant agreements between the Company and Executive
constitute the total and complete agreement of the parties and, except as provided below, supersedes all prior and contemporaneous understandings and agreements heretofore made, including the Employment Agreement, and there are no other
representations, understandings or agreements. 
 9.3 Counterparts. This Agreement may be executed in one of more
counterparts, each of which shall be deemed an original, but all of which shall together constitute one and the same instrument. 
 9.4 Severability. Each term, covenant, condition or provision of this Agreement shall be viewed as separate and distinct, and in the event that any such term, covenant, condition or provision shall
be deemed by an arbitrator or a court of competent jurisdiction to be invalid or unenforceable, the court or arbitrator finding such invalidity or unenforceability shall modify or reform this Agreement to give as much effect as possible to the terms
and provisions of this Agreement. Any term or provision which cannot be so modified or reformed shall be deleted and the remaining terms and provisions shall continue in full force and effect. 

9.5 Waiver or Delay. The failure or delay on the part of the Company, or Executive to exercise any right or remedy, power or
privilege hereunder shall not operate as a waiver thereof. A waiver, to be effective, must be in writing and signed by the party making the waiver. A written waiver of default shall not operate as a waiver of any other default or of the same type of
default on a future occasion. 
 9.6 Successors and Assigns. This Agreement shall be binding on and shall inure to the
benefit of the parties to it and their respective heirs, legal representatives, successors and assigns, except as otherwise provided herein. Except as provided in this Section 9.6, without the prior written consent of Executive, this Agreement
shall not be assignable by the Company. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly
and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. “Company” means the Company as hereinbefore defined and any successor to
its business and/or assets as aforesaid that assumes and agrees to perform this Agreement by operation of law or otherwise. 

9.7 No Assignment or Transfer by Executive. Neither this Agreement nor any of the rights, benefits, obligations or duties
hereunder may be assigned or transferred by Executive. Any purported assignment or transfer by Executive shall be void. 

[341182.EX10_6]20                                     

 
 
 9.8 Necessary
Acts. Each party to this Agreement shall perform any further acts and execute and deliver any additional agreements, assignments or documents that may be reasonably necessary to carry out the provisions or to effectuate the purpose of this
Agreement. 
 9.9 Governing Law. This Agreement and all subsequent agreements between the parties shall be governed by
and interpreted, construed and enforced in accordance with the laws of the State of Nevada. 
 9.10 Notices. All notices,
requests, demands and other communications to be given under this Agreement shall be in writing and shall be deemed to have been duly given on the date of service, if personally served on the party to whom notice is to be given, or forty-eight
(48) hours after mailing, if mailed to the party to whom notice is to be given by certified or registered mail, return receipt requested, postage prepaid, and properly addressed to the party at his address set forth as follows or any other
address that any party may designate by written notice to the other parties: 
  

			
	To Executive:	  	Neil E. Walkoff
		  	1305 Weidman Manor Court
		  	St. Louis, MO 70810
		  	Facsimile: N/A
		
	To the Company:	  	Pinnacle Entertainment, Inc.
		  	8918 Spanish Ridge Avenue
		  	Las Vegas, NV 89148
		  	Attn: General Counsel
		  	Telephone: 702 541-7777
		  	Facsimile: 702 541-7773

[341182.EX10_6]21                                     

 
 
 9.11 Headings and
Captions. The headings and captions used herein are solely for the purpose of reference only and are not to be considered as construing or interpreting the provisions of this Agreement. 

9.12 Construction. All terms and definitions contained herein shall be construed in such a manner that shall give effect to the
fullest extent possible to the express or implied intent of the parties hereby. 
 9.13 Counsel. Executive has been
advised by the Company that he should consider seeking the advice of counsel in connection with the execution of this Agreement and Executive has had an opportunity to do so. Executive has read and understands this Agreement, and has sought the
advice of counsel to the extent he has determined appropriate. The Company shall reimburse Executive for the reasonable fees and expenses of Executive’s counsel in connection with this Agreement not to exceed $10,000. 

9.14 Withholding of Compensation. Executive hereby agrees that the Company may deduct and withhold from the compensation or other
amounts payable to Executive hereunder or otherwise in connection with Executive’s employment any amounts required to be deducted and withheld by the Company under the provisions of any applicable Federal, state and local statute, law,
regulation, ordinance or order. 
 9.15 References to Sections of the Code. All references in this Agreement and Appendix
A hereto to sections of the Code shall be to such sections and to any successor or substantially comparable sections of the Code or to any successor thereto. 
 9.16 Effect of Delay. Executive’s or the Company’s failure to insist upon strict compliance with any provision of this Agreement or the failure to assert any right Executive or the
Company may have hereunder, including without limitation the right of Executive to terminate employment for Good Reason pursuant to Section 6.5, shall not be deemed to be a waiver of such provision or right or any other provision or right of
this Agreement. 

[341182.EX10_6]22                                     

 
IN WITNESS WHEREOF, the parties hereto have caused this Employment
Agreement to be duly executed this 24th day of April and
effective as of the 10th day of April, 2012. 

 

					
	 THE COMPANY
	 	 PINNACLE ENTERTAINMENT, INC.

			
		 	By:	 	 /s/ Anthony M. Sanfilippo

		 		 	    Anthony M. Sanfilippo
		 	Its:	 	President and Chief Executive Officer
		
	 EXECUTIVE
	 	NEIL E. WALKOFF
		
		 	 /s/ Neil E. Walkoff

[341182.EX10_6]23                                     

 
APPENDIX A 
 POLICY ON RECOVERY OF INCENTIVE COMPENSATION 
 IN EVENT OF FINANCIAL
RESTATEMENT 
 The following rules shall apply if (1) there is a restatement of the Company’s financial statements
for the fiscal year for which a bonus is paid, other than a restatement due to changes in accounting principles or applicable law, and (2) the Compensation Committee determines that a participant has received an “excess bonus” for the
relevant fiscal year. 
  

	 	1.	The amount of the excess bonus shall be equal to the difference between the bonus paid to the participant and the payment or grant that would have been made based on
the restated financial results. 

  

	 	2.	The requirement to repay all or a portion of the excess bonus as determined by the Compensation Committee shall only exist if the Audit Committee has taken steps to
consider restating the financials prior to the end of the third year following the year in question. 

  

	 	3.	The Compensation Committee may take such action in its discretion that it determines appropriate to recover all or a portion of the excess bonus if it deems such action
appropriate under the facts and circumstances. Such actions may include recovery of all or a portion of such amount from the participant from any of the following sources: prior incentive compensation payments, future payments of incentive
compensation, cancellation of outstanding equity awards, future equity awards, gains realized on the exercise of stock options, and direct repayment by the participant. Participant’s receipt of the bonus constitutes his agreement that, if
requested by the Compensation Committee, he shall repay to the Company the excess bonus (or that portion thereof specified by the Committee) within 90 days of the time that he is notified by the Committee of the overpayment. Application of this
policy does not preclude the Company from taking any other action to enforce a participant’s obligations to the Company, including termination of employment or institution of civil or criminal proceedings. 

This Policy shall be applicable to all incentive compensation paid subsequent to the adoption of the Policy. 

This Policy is in addition to the requirements of Section 304 of the Sarbanes-Oxley Act of 2002 that are applicable to the
Company’s Chief Executive Officer and Chief Financial Officer. 

  
 - 1 -

[341182.EX10_6]24                                     

 
APPENDIX B 
 RELEASE and RESIGNATION 
 For valuable consideration, receipt of which is
hereby acknowledged, the undersigned Neil E. Walkoff (“Executive”), for himself and his spouse, heirs, estate, administrators and executors, hereby fully and forever releases and discharges Pinnacle Entertainment, Inc., a Delaware
corporation (the “Company”), and each of its subsidiaries and the officers, directors, employees, attorneys and agents of the Company and each such subsidiary, of and from any and all claims, demands, causes of action of any kind or
nature, in law, equity or otherwise, whether known or unknown, which Executive has had, may have had, or now has, or may have, arising out of or in connection with Executive’s employment with the Company and/or its subsidiaries or the
termination of such employment; provided, however, that nothing contained herein is intended to nor shall constitute a release of the Company from any obligations it may have to Executive under any written employment agreement between Executive and
the Company in effect as of the date hereof, or any deferred compensation plan or arrangement in which Executive participates or any rights of indemnification under the Company’s Articles, Bylaws, Indemnity Trust Agreement or the like, or
coverage under Director and Officer Insurance, nor shall it prevent Executive from exercising his rights, if any, under any such employment agreement or under any stock option, restricted stock or similar agreement in effect as of the date hereof in
accordance with their terms. 
 Executive represents and warrants that he has not assigned or in any way conveyed, transferred
or encumbered all or any portion of the claims or rights covered by this release. 
 Executive hereby resigns from all positions
as an officer, director or employee of the Company and each of its subsidiaries or affiliates effective the date hereof and further agrees to execute such further evidence of such resignations as may be necessary or appropriate to effectuate the
foregoing. 
 Executed this         day of
            , 20    . 
  

	
	  

Executive

  
 - 1 -GLOW-EX10.5_2012.3.31-Q1

AMENDED AND RESTATED EMPLOYMENT AGREEMENT
This Amended and Restated Employment Agreement, dated March 12, 2012 (the "Effective Date"), is between Glowpoint, Inc., a Delaware corporation (the “Company”), and Michael S. Hubner ("Employee").
WHEREAS, the Company and the Employee were parties to that certain Employment Agreement (the “Original Employment Agreement”) dated August 30, 2010 (the “Original Effective Date”) and are currently parties to that certain Amended and Restated Employment Agreement dated December 23, 2010 (the “Prior Employment Agreement” and, together with the Original Employment Agreement, the “Prior Agreements”). 
WHEREAS, the Company and the Employee desire to modify certain provisions set forth in the Prior Employment Agreement. 
NOW, THEREFORE, in consideration of the mutual covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
		
	1.
	POSITION AND RESPONSIBILITIES.   

1.1    Position.  Employee is employed by the Company to render services to the Company in the position of General Counsel and Corporate Secretary.  Employee shall perform such duties and responsibilities as are normally related to such position in accordance with the standards of the industry and any additional duties consistent with his position now or hereafter assigned to Employee by the Chief Executive Officer of the Company.  Employee shall abide by the rules, regulations and practices of the Company as adopted or modified from time to time in the Company’s reasonable discretion.
1.2    Other Activities.  Employee shall devote his full business time, attention and skill to perform any assigned duties, services and responsibilities, consistent with the position of General Counsel and Corporate Secretary, while employed by the Company, for the furtherance of the Company's business, in a diligent, loyal and conscientious manner.  Except upon the prior written consent of the Board of Directors, Employee will not, during the Term (as defined below):  (a) accept any other employment; or (b) engage, directly or indirectly, in any other business activity (whether or not pursued for pecuniary advantage) that interferes with Employee’s duties and responsibilities hereunder or creates a conflict of interest with the Company. 
1.3    No Conflict.  Employee represents and warrants that Employee’s execution of this Agreement, Employee’s employment with the Company, and the performance of Employee’s proposed duties under this Agreement will not violate any obligations Employee may have to any other employer, person or entity, including any obligations with respect to proprietary or confidential information of any other person or entity.
		
	2.
	COMPENSATION AND BENEFITS.

2.1    Base Salary.  In consideration of the services to be rendered under this Agreement and so long as Employee remains employed by the Company, the Company shall pay Employee a salary of not less than $267,500.00 per year (as such may be increased by the Company from time to time, the "Base Salary").  The Base Salary shall be paid in accordance with the Company’s regularly established payroll practice.  Employee’s Base Salary will be reviewed from time to time in accordance with the established procedures of the Company.
2.2    Equity.  
(a)    Pursuant to the terms of the Original Employment Agreement, the Company issued to Employee shares of restricted common stock of the Company ("Restricted Stock ") in the amount of 100,000 shares, which issuance is governed by the Company’s standard form of Restricted Stock Award Agreement; provided, that, in no way limiting the terms of Section 3.3(c) below, any additional agreements pertaining to new grants of Restricted Stock or options to purchase shares of Company common stock (“Options”) shall expressly state that such securities shall become unrestricted and fully vested, as applicable, upon the occurrence of a Change in Control or Corporate Transaction (as each is defined in the Glowpoint, Inc. 2007 Stock Incentive Plan (as amended, the “Plan”)).
(b)    Other than as expressly provided herein, the terms and conditions governing the shares of Restricted Stock and Options shall be set forth in the applicable equity award agreement.  
2.3    Incentive Compensation. No later than sixty days after the Effective Date, Employee and the Chief Executive Officer will establish mutually agreed upon appropriate goals and metrics applicable to Employee's performance under this Agreement.  Such goals and metrics will be taken into consideration by the Compensation Committee of the Board of Directors in determining the amount, if any, of incentive compensation to be paid to Employee each year.  Updated goals and metrics will be established no later than 60 days after the start of each new calendar year.  Employee will be eligible to receive incentive compensation with a target of forty percent (40%) of his Base Salary annually.  The determination of the awarding of any incentive compensation to Employee shall be at the sole discretion of the Compensation Committee.  The Company shall pay the incentive compensation no later than March 15 following the calendar year for which the Employee earned the incentive compensation.
2.4    Benefits.  Employee shall be eligible to participate in all benefits made generally available by the Company to similarly-situated employees, in accordance with the benefit plans established by the Company, and as may be amended from time to time in the Company’s sole discretion.  
2.5    Expenses.  The Company shall reimburse Employee for reasonable travel and other business expenses incurred by Employee in the performance of Employee’s duties hereunder in accordance with the Company’s expense reimbursement guidelines, as they may be amended in the Company's sole discretion.  
2.6    Vacation.  Employee will be entitled to accrue four (4) weeks of paid vacation per year.  Such vacation may be carried over from year to year only as permitted by the Company’s then-current employee handbook.
		
	3.
	TERM AND SEVERANCE. 

3.1    Term.  The initial term of this Agreement expires on December 31, 2013 (the “Initial Term”).  If the Company does not provide Employee with written notice of non-renewal of this Agreement at least six (6) months prior to expiration, then this Agreement shall automatically renew for additional one-year periods (each, a “Renewal Term” and, together with the Initial Term, the “Term”).  If the Company does provide Employee with written notice of non-renewal of this Agreement at least six (6) months prior to expiration of the current Term, then this Agreement shall automatically expire as of the expiration date for such Term (an “Expiration Event”).  Notwithstanding the foregoing, either the Company or Employee may terminate Employee’s employment hereunder at any time, for any reason or no reason at all so long as they comply with the terms of this Section 3. 
3.1    Termination for Cause or Voluntary Resignation.  If Employee is terminated for Cause (as defined below) or if Employee voluntarily resigns, Employee will be entitled to his Base Salary and other benefits through the last day actually worked.  Thereafter, all benefits, compensation and perquisites of employment will cease. 
3.2    Termination Without Cause, Resignation for Good Reason, Expiration or Death.  If (a) Employee is terminated without Cause (as defined below) or Employee resigns for Good Reason (as defined below) or an Expiration Event occurs or Employee dies (each, a “Qualifying Termination Event”), (b) there exists a “separation from service” as defined under the Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), (c) Employee executes the Company’s standard form of release and waiver (the “Release”) and the Release becomes irrevocable and effective in accordance with its terms within thirty (30) days after Employee’s separation from service, and (d) Employee is not in material breach of any of the terms and conditions of this Agreement, then Employee shall be entitled to the following benefits, payable commencing with the payroll period immediately following the effective date of the Release:
(a)    Cash severance payments equal to six (6) months of his current Base Salary, which severance shall be paid as salary continuation in accordance with the Company’s regular payroll practices, plus a lump-sum payment in an amount equal to the prorated portion of the annual bonus for the current fiscal year, as determined at the established target performance levels for Employee and accrued by the Company (collectively, the “Severance Payments”); provided, that notwithstanding the foregoing, in the event that a Change of Control or Corporate Transaction (as each is defined in the Plan) shall occur, (i) the Base Salary portion of the Severance Payments shall be increased from six (6) months to twelve (12) months and (ii) if such Change of Control or Corporate Transaction constitutes a "change in the ownership", a "change in the effective control" or a "change in the ownership of a substantial portion of the assets" of the Company within the meaning of Section 409A of the Code, the payment of all unpaid Severance Payments will be accelerated and become immediately due and payable (A) upon the consummation of such Change of Control or Corporate Transaction if a Qualifying Termination Event has already occurred or (B) as of the effective date of such Qualifying Termination Event, if the separation from service occurs within the two-year period immediately following the Change of Control or Corporate Transaction;
(b)    If Employee timely elects COBRA coverage, the Company will pay for COBRA coverage on Employee’s behalf (less the employee contribution portion, if any, immediately prior to such separation from service) until the earlier to occur of (i) the date Employee is entitled to receive substantially similar health insurance coverage from another source and (ii) the date that is six (6) months after such separation from service; provided, that notwithstanding the foregoing, in the event that a Change of Control or Corporate Transaction shall occur, the duration of COBRA coverage shall be extended from six (6) months to twelve (12) months; and 
(c)    Notwithstanding the vesting provisions of any applicable equity grant agreement to the contrary, with respect to the issued and outstanding shares of Restricted Stock and unvested Options then held by Employee other than the 50,000 shares of Restricted Stock and 150,000 Options granted to Employee on or about March 12, 2012 (collectively, the “Eligible Equity”), a certain percentage of such Eligible Equity shall immediately become unrestricted and vested as follows:
(i)    If the Qualifying Termination Event occurs before the first anniversary of the Original Effective Date, then 15% of the Eligible Equity;
(ii)    If the Qualifying Termination Event occurs between the first anniversary and second anniversary of the Original Effective Date, then 40% of the Eligible Equity;
(iii)    If the Qualifying Termination Event occurs between the second anniversary and third anniversary of the Original Effective Date, then 75% of the Eligible Equity; and
(iv)    If the Qualifying Termination Event occurs after the third anniversary of the Original Effective Date, then 100% of the Eligible Equity; provided, that for purposes of this Section 3(c), the parties expressly agree that the Options, if any, with the lowest exercise price shall vest first.  
3.3    Definition of Cause.  For purposes of this Agreement, Cause shall mean, in the judgment of the Company: (a) Employee willfully engages in any act or omission which is in bad faith and to the detriment of the Company;  (b) Employee exhibits unfitness for service, dishonesty, habitual neglect, persistent and serious deficiencies in performance, or gross incompetence, which conduct is not cured within fifteen (15) days after receipt by Employee of written notice of the conduct; (c) Employee is convicted of a crime; or (d) Employee refuses or fails to act on any reasonable and lawful directive or order from the Chief Executive Officer, which refusal is not cured within fifteen (15) days after receipt by the Employee of written notice thereof. Notice of any termination for Cause shall be given in writing to the Employee, which notice shall set forth in reasonable detail all acts or omission upon which the Company is relying for such termination prior to the effective date of the termination.
3.4    Definition of Resignation for Good Reason.  For purposes of this Agreement, resigning for “Good Reason” shall mean if Employee resigns because: (a) there has been a material diminution in his Base Salary (with the parties in agreement that for this purpose, a material diminution means a diminution of at least 10% in Employee’s Base Salary); (b) he is required to be based in an office that is more than 50 miles from the current location of the office; (c) he is assigned duties that are materially inconsistent with his position as General Counsel and Corporate Secretary; or (d) there is a material diminution of his status, office, title, responsibility, or reporting requirements.    Notwithstanding the foregoing, Employee’s resignation shall not be considered to be for Good Reason unless Employee provides written notice to the Company of the condition constituting Good Reason within ninety (90) days of the initial existence of such condition, and the Company fails to remedy such condition within thirty (30) days after receipt of such notice from Employee.
3.5    Excise Tax.  If any benefits paid or distributed to, or realized by, Employee pursuant to this Agreement, together with any other amounts or value otherwise paid or distributed to Employee by Glowpoint (e.g., the lapsing of restrictions on Restricted Stock) in connection with a Change in Control or Corporate Transaction (collectively, the "280G Payments"), would be an "excess parachute payment" as defined in Section 280G of the Code and would thereby subject Employee to the tax imposed under Section 4999 of the Code or any similar tax (the "Excise Tax"), then Glowpoint shall pay to Employee the greater of (a) the total value of the 280G Payments payable if reduced to an amount that avoids the triggering of the Excise Tax or (b) the total value of the 280G Payments payable even if the Excise Tax is triggered, such that the total amount of 280G Payments actually received by Employee, net of all applicable taxes (including, without limitation, the Excise Tax), is maximized.  In the event that Employee's 280G Payments are reduced pursuant to this Section 3.6, such reduction shall be applied to the 280G Payments by first reducing the prorated annual bonus under Section 3.3(a) then reducing the other Severance Payments under Section 3.3(a), then reducing the benefits under Section 3.3(b), then reducing the benefits described in Section 3.3(c).  For purposes of determining the Excise Tax and making any other calculations under this Section 3.6, the determinations of Glowpoint's outside auditing firm will be deemed conclusive and binding on Glowpoint and Employee.   
3.6    Section 409A of the Code.  The parties intend that any payments and benefits under this Agreement shall be exempt from, or comply with, the requirements of Section 409A of the Code, and this Agreement shall be interpreted and administered in accordance with such intent.  In particular, the parties intend that each installment of Severance Payments under this Agreement be treated as a separate payment for purposes of Section 409A of the Code.  Moreover, to the extent required to comply with Section 409A of the Code, then notwithstanding any other provision of this Agreement to the contrary: (a) if, at the time of his separation from service, Employee is not a "specified employee" within the meaning of Section 409A of the Code, payment of any nonqualified deferred compensation provided under this Agreement shall commence within sixty (60) days following the date of Employee’s separation from service, and if such sixty-day period begins in one calendar year and ends in a second calendar, such payment shall commence in the second calendar year; or (b) if, at the time of his separation from service, Employee is a "specified employee" within the meaning of Section 409A of the Code, any nonqualified deferred compensation provided under this Agreement shall be paid on the first business day that is at least six (6) months after Employee's separation from service (such six-month period, the “Tolling Period”) and the first such payment shall include all unpaid amounts that otherwise would have been paid prior to that date pursuant to this Agreement.
		
	4.
	TERMINATION OBLIGATIONS.

4.1    Return of Property.  Employee agrees that all property (including without limitation all equipment, tangible proprietary information, documents, records, notes, contracts and computer-generated materials) furnished to or created or prepared by Employee incident to Employee’s employment belongs to the Company and shall be promptly returned to the Company upon termination of Employee’s employment.
4.2    Cooperation.  Following any termination of employment, Employee shall cooperate with the Company in the winding up of pending work on behalf of the Company and the orderly transfer of work to other employees.  Employee shall also cooperate with the Company in the defense of any action brought by any third party against the Company that relates to Employee’s employment by the Company. 
		
	5.
	INVENTIONS AND PROPRIETARY INFORMATION; PROHIBITION ON THIRD PARTY INFORMATION.

5.1    Proprietary Information.  Employee hereby covenants, agrees and acknowledges as follows:
(a)    The Company is engaged in a continuous program of research, design, development, production, marketing and servicing with respect to its business.
(b)    Employee's employment hereunder creates a relationship of confidence and trust between Employee and the Company with respect to certain information pertaining to the business of the Company or pertaining to the business of any customer of the Company which may be made known to the Employee by the Company or by any customer of the Company or learned by the Employee during the period of Employee's employment by the Company.
(c)    The Company possesses and will continue to possess information that has been created, discovered or developed by, or otherwise becomes known to it (including, without limitation, information created, discovered or developed by, or made known to,  Employee during the period of Employee's employment or arising out of Employee's employment and which pertains to the Company’s actual or contemplated business, products, intellectual property or processes) or in which property rights have been or may be assigned or otherwise conveyed to the Company, which information has commercial value in the business in which the Company is engaged and is treated by the Company as confidential.
(d)    Any and all inventions, products, discoveries, improvements, processes, manufacturing, marketing and services, methods or techniques, formulae, designs, styles, specifications, data bases, computer programs (whether in source code or object code), know-how, strategies and data, whether or not patentable or registrable under copyright or similar statutes, made, developed or created by Employee (whether at the request or suggestion of the Company or otherwise, whether alone or in conjunction with others, and whether during regular hours of work or otherwise) during the period of Employee's employment by the Company which pertains to the Company's actual or contemplated business, products, intellectual property or processes (collectively hereinafter referred to as “Developments”), shall be the sole property of the Company and will be promptly and fully disclosed by Employee to the Board without any additional compensation therefor, including, without limitation, all papers, drawings, models, data, documents and other material pertaining to or in any way relating to any Developments made, developed or created by Employee as aforesaid.  The Company shall own all right, title and interest in and to the Developments and such Developments shall be considered “works made for hire” for the Company under applicable law.  If any of the Developments are held for any reason not to be “works made for hire” for the Company or if ownership of all right, title and interest in and to the Developments has not vested exclusively and immediately in the Company upon creation, Employee irrevocably assigns, without further consideration, any and all right, title and interest in and to the Developments to the Company, including any and all moral rights, and “shop rights” in the Developments recognized by applicable law.  Employee irrevocably agrees to execute any document requested by the Company to give effect to this Section 5.1 such as an assignment of invention or other general assignments of intellectual property rights, without additional compensation therefor.  
(e)     Employee will keep confidential and will hold for the Company's sole benefit any Development which is to be the exclusive property of the Company under this Section 5.1 irrespective of whether any patent, copyright, trademark or other right or protection is issued in connection therewith.  
(f)     Employee also agrees that Employee will not, without the prior approval of the Chief Executive Officer, use for Employee's benefit or disclose at any time during Employee's employment by the Company, or thereafter, except to the extent required by the performance by Employee of Employee's duties, any information obtained or developed by Employee while in the employ of the Company with respect to any Developments or with respect to any customers, clients, suppliers, products, services, prices, employees, financial affairs, or methods of design, distribution, marketing, service, procurement or manufacture of the Company or any confidential matter, except information which at the time is generally known to the public other than as a result of disclosure by Employee not permitted hereunder.  Notwithstanding the foregoing, the following will not constitute confidential information for purposes of this Agreement: (i) information which is or becomes publicly available other than as a result of disclosure by the Employee; (ii) information designated in writing by the Company as no longer confidential; or (iii) information known by Employee as of the date of this Agreement, to the extent Employee can document such prior knowledge.  In addition, Employee may use or disclose Company confidential information to the extent Employee is legally compelled to disclose such information; provided, that prior to any such compelled disclosure, Employee shall give the Company reasonable advance notice of any such disclosure and shall cooperate with the Company in protecting against any such disclosure and/or obtaining a protective order narrowing the scope of such disclosure and/or use of such information.  Employee will comply with all intellectual property disclosure policies established by the Company from time to time with respect to the Company's confidential information, including with respect to Developments.  
5.2    Non-Disclosure of Third Party Information.  Employee represents, warrants and covenants that Employee shall not disclose to the Company, or use, or induce the Company to use, any proprietary information or trade secrets of others at any time, including but not limited to any proprietary information or trade secrets of any former employer, if any; and Employee acknowledges and agrees that any violation of this provision shall be grounds for Employee’s immediate termination and could subject Employee to substantial civil liabilities and criminal penalties.  Employee further specifically and expressly acknowledges that no officer or other employee or representative of the Company has requested or instructed Employee to disclose or use any such third party proprietary information or trade secrets.
5.3    Injunctive Relief.  Employee acknowledges and agrees that a remedy at law for any breach or threatened breach of the provisions of this Section 5 would be inadequate and, therefore, agrees that the Company shall be entitled to injunctive relief in addition to any other available rights and remedies in case of any such breach or threatened breach.
		
	6.
	LIMITED AGREEMENT NOT TO COMPETE OR SOLICIT.

6.1    Non-Competition.  During the Term and also after expiration or termination of the Term if, and only for so long as, Employee is receiving the Severance Payments (collectively, the “Restricted Period”), unless mutually agreed otherwise by the Employee and the Company, Employee shall not, directly or indirectly, work as an employee, consultant, agent, principal, partner, manager, officer, or director for any person or entity who or which engages in a substantially similar business as the Company.  For purposes of this Agreement, the Company is currently engaged in the business of designing, developing, providing and selling video communication services; provided, that the Restricted Period shall run concurrently with, and shall not be extended for, the Tolling Period, if any.
6.2    Non-Solicitation.  Employee shall not, during the Restricted Period, either directly or indirectly: (a) call on or solicit for similar services, or, encourage or take away any of the Company’s customers or potential customers about whom Employee became aware or with whom Employee had contact as a result of Employee’s employment with the Company, either for benefit of Employee or for any other person or entity; or (b) solicit, induce, recruit, or encourage any of the Company’s employees or contractors to leave the employ of the Company or cease providing services to the Company on behalf of the Employee or on behalf of any other person or entity; or (c) hire for himself or any other person or entity any employee who was employed or engaged by the Company within six months prior to the termination of Employee’s employment.
6.3    Limitations; Remedies.  The Employee further agrees that the limitations set forth in this Section 6 (including, without limitation, any time limitation) are reasonable and properly required for the adequate protection of the businesses of the Company.  The Employee agrees that the lack of territorial limit is reasonable given the global reach of the Company.  If any of the restrictions contained in Sections 6.1 and 6.2 are deemed by a court or arbitrator to be unenforceable by reason of the extent, duration or geographic scope thereof, or otherwise, then the parties agree that such court or arbitrator may modify such restriction to the extent necessary to render it enforceable and enforce such restriction in its modified form.  The Employee acknowledges and agrees that a remedy at law for any breach or threatened breach of the provisions of this Section 6 would be inadequate and, therefore, agrees that the Company shall be entitled to injunctive relief in addition to any other available rights and remedies in cases of any such breach or threatened breach.
		
	7.
	ALTERNATIVE DISPUTE RESOLUTION.

7.1    The Company and Employee mutually agree that any controversy or claim arising out of or relating to this Agreement or the breach thereof, or any other dispute between the parties arising from or related to Employee’s employment with the Company, shall be submitted to mediation before a mutually agreeable mediator.  In the event mediation is unsuccessful in resolving the claim or controversy, such claim or controversy shall be resolved by arbitration  
7.2    Company and Employee agree that arbitration shall be held in New Jersey, before a mutually agreed upon single arbitrator licensed to practice law, in accordance with the rules of the American Arbitration Association.  The arbitrator shall have authority to award or grant legal, equitable, and declaratory relief.  Such arbitration shall be final and binding on the parties.  If the parties are unable to agree on an arbitrator, the matter shall be submitted to the American Arbitration Association solely for appointment of an arbitrator.  
7.3    The claims covered by this Agreement (“Arbitrable Claims”) include, but are not limited to, claims for wages or other compensation due; claims for breach of any contract (including this Agreement) or covenant (express or implied); tort claims; claims for discrimination (including, but not limited to, race, sex, religion, national origin, age, marital status, medical condition, or disability); claims for benefits (except where an employee benefit or pension plan specifies that its claims procedure shall culminate in an arbitration procedure different from this one); and claims for violation of any federal, state, or other law, statute, regulation, or ordinance, except claims excluded in the following paragraph.  The parties hereby waive any rights they may have to trial by jury in regard to Arbitrable Claims.  
7.4    This Section 7 does not cover (a) claims that Employee may have for Workers' Compensation State disability or unemployment compensation benefits or (b) either party's right to obtain provisional remedies, or interim relief from a court of competent jurisdiction.
7.5    Arbitration under this Agreement shall be the exclusive remedy for all Arbitrable Claims.  This agreement to mediate and arbitrate survives termination of Employee’s employment.
		
	8.
	AMENDMENTS; WAIVERS; REMEDIES.

This Agreement may not be amended or waived except by a writing signed by Employee and by a duly authorized representative of the Company.  Failure to exercise any right under this Agreement shall not constitute a waiver of such right.  Any waiver of any breach of this Agreement shall not operate as a waiver of any subsequent breaches.  All rights or remedies specified for a party herein shall be cumulative and in addition to all other rights and remedies of the party hereunder or under applicable law.
		
	9.
	ASSIGNMENT; BINDING EFFECT.

9.1    Assignment.  The performance of Employee is personal hereunder, and Employee agrees that Employee shall have no right to assign and shall not assign or purport to assign any rights or obligations under this Agreement.  This Agreement may be assigned or transferred by the Company; and nothing in this Agreement shall prevent the consolidation, merger or sale of the Company or a sale of any or all or substantially all of its assets.
9.2    Binding Effect.  Subject to the foregoing restriction on assignment by Employee, this Agreement shall inure to the benefit of and be binding upon each of the parties, the affiliates, officers, directors, agents, successors and assigns of the Company, and the heirs, devisees, spouses, legal representatives and successors of Employee.
		
	10.
	SEVERABILITY.

If any provision of this Agreement shall be held by a court or arbitrator to be invalid, unenforceable, or void, such provision shall be enforced to the fullest extent permitted by law, and the remainder of this Agreement shall remain in full force and effect.  In the event that the time period or scope of any provision is declared by a court or arbitrator of competent jurisdiction to exceed the maximum time period or scope that such court or arbitrator deems enforceable, then such court or arbitrator shall reduce the time period or scope to the maximum time period or scope permitted by law.
		
	11.
	TAXES.

All amounts paid under this Agreement (including, without limitation, Base Salary) shall be reduced by all applicable state and federal tax withholdings and any other withholdings required by any applicable jurisdiction.
		
	12.
	GOVERNING LAW.

The validity, interpretation, enforceability, and performance of this Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey, without regard to New Jersey conflict of laws principles.  
		
	13.
	INTERPRETATION.

This Agreement shall be construed as a whole, according to its fair meaning, and not in favor of or against any party.  Sections and section headings contained in this Agreement are for reference purposes only, and shall not affect in any manner the meaning or interpretation of this Agreement.  Whenever the context requires, references to the singular shall include the plural and the plural the singular.  
		
	14.
	OBLIGATIONS SURVIVE TERMINATION OF EMPLOYMENT.

The Parties' rights and obligations that by their nature would extend beyond the termination or expiration of this Agreement, including, without limitation, the confidentiality, non-solicit and non-compete provisions, shall survive such termination or expiration.
		
	15.
	AUTHORITY.

Each party represents and warrants that such party has the right, power and authority to enter into and execute this Agreement and to perform and discharge all of the obligations hereunder and that this Agreement constitutes the valid and legally binding agreement and obligation of such party and is enforceable in accordance with its terms.
		
	16.
	ENTIRE AGREEMENT.

This Agreement is the final, complete and exclusive agreement of the parties with respect to the subject matter hereof and supersedes and merges all prior or contemporaneous representations, discussions, proposals, negotiations, conditions, communications and agreements, whether written or oral, between the parties relating to the subject matter hereof and all past courses of dealing or industry custom, including, without limitation, the Consulting Agreement dated July 13, 2010 between the parties and also the Prior Agreements.  Employee acknowledges Employee has had the opportunity to consult legal counsel concerning this Agreement, that Employee has read and understands the Agreement, that Employee is fully aware of its legal effect, and that Employee has entered into it freely based on Employee’s own judgment and not on any representations or promises other than those contained in this Agreement.

In Witness Whereof, the parties have duly executed this Agreement as of the date first written above.  

	
				
	Glowpoint, Inc.

	Employee
	 

	           
Name:  Joseph Laezza
Title:  President and CEO
	           
Michael S. Hubner

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00204-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00204-of-00352.parquet"}]]