Document:

Services Agreement, dated as of May 20, 2005

 Exhibit 10.6 
  
 EXECUTION VERSION 
  
 SERVICES AGREEMENT 
  
 THIS SERVICES AGREEMENT (this “Agreement”), made as of this 20th day of May, 2005, is by and among DONALD J. TRUMP (“Mr. Trump”), TRUMP ENTERTAINMENT RESORTS, INC., a Delaware corporation formerly known as
Trump Hotels & Casino Resorts, Inc. (the “Company”), and TRUMP ENTERTAINMENT RESORTS HOLDINGS, L.P., a Delaware limited partnership formerly known as Trump Hotels & Casino Resorts Holdings, L.P. (“TER
Holdings”). 
  
 W I T N
E S S E T H: 
  
 WHEREAS, Mr. Trump has served as Chairman of the Board of Directors of the Company since its inception as a public company in 1995 and as its President and Chief Executive Officer since June, 2000, and has been compensated for
serving as such pursuant to the terms of a Prior Agreement (as hereinafter defined); 
  
 WHEREAS, on November 21, 2004, the Company and certain of its subsidiaries (the “Debtors”) filed voluntary petitions under Chapter 11 of Title 11 of the United States Code, 11 U.S.C.
§§ 101-1330, in the United States Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”), under Case Nos. 04-46898 through 04-46925 (J.H.W.); 
  
 WHEREAS, on April 5, 2005, by written order, the Bankruptcy Court confirmed the Debtors’ Second Amended Joint
Plan of Reorganization, dated as of March 30, 2005 (the “Plan”); 
  
 WHEREAS, the Plan contemplates a reorganization (the “Reorganization”) of the Debtors involving, among other things, an investment in the equity of the Company and TER Holdings pursuant to that
certain Amended and Restated Investment Agreement, dated as of May 20, 2005 (the “Investment Agreement”), by and among the Company, TER Holdings and Mr. Trump; 
  
 WHEREAS, pursuant to and in accordance with the Plan and the Investment Agreement, Mr. Trump is willing to agree to
the early termination of each Prior Agreement in order to facilitate the consummation of the Reorganization, which Reorganization is important to the Company; 
  

WHEREAS, Mr. Trump presently serves as the Chairman of the Board of Directors and the Chief Executive Officer of the Company; 
  
 WHEREAS, the Company and TER Holdings desire to secure the ongoing
services of Mr. Trump and desire to ensure his continued association with the Company and TER Holdings; and 
  
 WHEREAS, as contemplated by the Plan and the Investment Agreement, Mr. Trump is willing to perform certain services on behalf of the Company and
TER Holdings on the terms and subject to the conditions hereinafter provided; 
  

 NOW, THEREFORE, in consideration of the promises and the mutual covenants herein contained, the
sufficiency of which is acknowledged by the parties hereto, the parties hereto hereby agree as follows: 
  
 ARTICLE I. 
  
 COMPANY RECOMMENDATION; DUTIES 
  
 Section 1.1.
Company Recommendation; Duties. (a) The Company shall recommend that Mr. Trump be nominated to serve as a member of the Board of Directors of the Company at all times during the term hereof and, if elected a director, that he serve
as its Chairman at all times during the term hereof. So long as Mr. Trump is the Chairman of the Board of Directors of the Company, he shall have such reasonable and customary powers and duties as are generally associated with the position of a
Chairman of the Board of Directors of a public company, as well as those conferred upon such office by the by-laws of the Company and resolutions of its Board of Directors. Mr. Trump agrees to serve as a director of such subsidiaries of the Company
(in each case, on such terms and conditions) as the Board of Directors of the Company and Mr. Trump may agree upon from time to time. 
  
 (b) The Company may request from time to time that Mr. Trump participate in promotional or marketing activities on behalf of the Company.
Mr. Trump shall be obligated to participate only in up to six Specified Events within any one-year period (measured from the date hereof until successive anniversaries of the date hereof), not more than two of which Specified Events shall be located
in the Western Region. In the event that Mr. Trump shall not so participate in at least six such Specified Events within any such one-year period, he shall be obligated to participate in the balance of such six Specified Events in the successive
one-year period (measured from the date hereof until successive anniversaries of the date hereof); provided, however, that, notwithstanding anything to the contrary contained herein, Mr. Trump shall not be obligated hereby or otherwise
to participate in more than eight Specified Events within any one-year period (measured from the date hereof until successive anniversaries of the date hereof), not more than two of which Specified Events shall be located in the Western Region.

  
 (c) The Company and Mr. Trump shall
reasonably cooperate with each other to arrange for Mr. Trump’s participation from time to time, subject to Mr. Trump’s schedule and availability (as determined by Mr. Trump in his sole discretion), and at the Company’s sole expense,
in the production of advertisements on behalf of the Company (including print, billboard, television and radio advertisements); provided, however, that the nature of Mr. Trump’s participation in any such advertisement shall be
determined by Mr. Trump in his reasonable discretion; provided, further, that, prior to the initial commercial release of any such advertisement in which Mr. Trump appears, the Company shall obtain Mr. Trump’s approval of the
content of such advertisement (in its entirety), which approval shall be subject to Mr. Trump’s reasonable discretion (and will not be unreasonably delayed). 
  
 (d) Mr. Trump agrees that he will use his reasonable efforts to maintain all applicable Material Licenses.

  

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 (e) In recognition of the fact that Mr. Trump has, and will continue to have, diverse
business interests in addition to those of the Company, Mr. Trump shall not be required to devote any fixed amount of time to the performance of his duties hereunder, but shall devote sufficient time to discharge his duties hereunder responsibly and
in a professional manner and in the best interests of the Company consistent with standards generally applicable to directors of public companies. Without limiting the foregoing, Mr. Trump may perform this Agreement from one or more locations within
or without the United States that he selects from time to time (it being understood that, so long as Mr. Trump shall serve as a director of the Company or any subsidiary of the Company, he shall be entitled to participate in any meeting of the Board
of Directors of the Company or such subsidiary via conference telephone or any other electronic device by which all of the directors present at such meeting, in person or otherwise, can simultaneously hear each other speak). 
  
 (f) Nothing contained herein shall constitute (or be deemed
to constitute) an engagement, appointment or election of Mr. Trump to serve as an officer or executive of the Company or any of its subsidiaries or shall require Mr. Trump to engage in any activities or to undertake any duties that are customarily
associated with the position of an officer or executive of a company; provided, however, that nothing contained herein (including, without limitation, the foregoing) shall prevent Mr. Trump from serving as an officer or executive
(including, without limitation, the Chief Executive Officer) of the Company. 
  
 ARTICLE II. 
  
 TERM;
TERMINATION; ADMINISTRATIVE LEAVE 
  
 Section 2.1.
Term. (a) Subject to Sections 2.1(b) and 2.2 hereof, this Agreement shall be effective as of the date hereof and shall continue for an initial term of three years and thereafter for a three-year rolling term which
rolling term shall be automatically extended so that the remaining term of this Agreement on any date after the initial three year term is always three years. 
  

(b) This Agreement may be terminated: 
  

	 	(i)	by Mr. Trump for Good Reason, upon 30 days written notice to the Company and TER Holdings; 

  

	 	(ii)	by the Company and TER Holdings for Cause, upon 30 days written notice to Mr. Trump from the Company and TER Holdings; 

  

	 	(iii)	by reason of Mr. Trump’s Permanent Disability, upon 30 days written notice to Mr. Trump from the Company and TER Holdings; 

  

	 	(iv)	automatically in the event of Mr. Trump’s death; 

  

	 	(v)	 by the Company and TER Holdings, if the stockholders of the Company shall fail to elect Mr. Trump to serve (or shall otherwise 

  

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remove Mr. Trump from serving) as a member of the Board of Directors, provided that the Company shall not be in breach of its obligation pursuant to
Section 1.1(a) hereof to recommend that Mr. Trump be nominated to serve as a member of the Board of Directors; 

  

	 	(vi)	by the Company and TER Holdings, if Mr. Trump does not Own equity securities of the Company representing at least 5% of the outstanding Common Stock of the Company, upon not less
than three years prior written notice thereof by the Company and TER Holdings to Mr. Trump; provided that, during such three-year period, each of the Company and TER Holdings shall continue to be obligated to perform all of its respective
obligations hereunder (including, without limitation, the obligations thereof under Article III hereof); provided, however, that, during such three-year period, the Company shall not be obligated pursuant to Section 1.1
hereof to recommend that Mr. Trump be nominated to serve as a member of the Board of Directors of the Company if doing so would result in Mr. Trump serving as a director of the Company for more than one year after the expiration of such three-year
period. For the avoidance of doubt, a termination of this Agreement pursuant to this Section 2.1(b)(vi) shall be deemed to be effective, and shall occur, upon the expiration of such three-year period; or 

  

	 	(vii)	after the third anniversary of the date hereof, by the Company and TER Holdings with or without Cause, upon 45 days written notice to Mr. Trump from the Company and TER Holdings
(such 45-day period, the “Notice Termination Period”). 

  
 Section 2.2. Effect of Termination. Upon any expiration or termination of this Agreement pursuant to Section 2.1 hereof, this Agreement shall become null and void, and shall be of no further force
or effect, with no liability on the part of any party hereto with respect to this Agreement, except that: (a) all accrued and unpaid Compensation payable to Mr. Trump as of the date of such expiration or termination shall be paid by the Company to
Mr. Trump promptly (but not more than five business days) after such expiration or termination, it being understood that for purposes of determining what shall be payable under this clause (a), (i) the Annual Base Fee shall accrue on a monthly basis
and (ii) any annual bonus to which Mr. Trump may become entitled pursuant to Section 3.1(b) hereof shall accrue only when and if the Compensation Committee of the Board of Directors of the Company shall have determined that such bonus is
payable in accordance with Section 3.1(b) hereof; (b) the Company shall reimburse Mr. Trump in accordance with Section 3.2 hereof with respect to expenses incurred on or prior to the date of such expiration or termination; (c) in the
event of a termination of this Agreement pursuant to Section 2.1(b)(i), (iii), (iv) or (v) hereof, without limiting the provisions of the immediately preceding clauses (a) and (b) of this Section 2.2, the Company
shall continue to pay Compensation to Mr. Trump (or to his estate, in the case of a termination hereof pursuant to Section 2.1(b)(iv) hereof) that would otherwise have been payable to him hereunder (as if such 

  

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expiration or termination had not occurred) for a period of three years following the date of such expiration or termination, which continued Compensation
shall be paid in equal installments on a monthly basis (not later than the tenth day of each calendar month); provided that, in the event that the Company shall fail for any reason to timely make any such payment to Mr. Trump (or his estate)
of such continued Compensation and such failure to pay is not cured within five days after the Company’s receipt of written notice thereof from Mr. Trump (or from his authorized representative or estate, in the case of a termination hereof
pursuant to Section 2.1(b)(iii) or (iv) hereof), Mr. Trump (or his authorized representative or estate) shall have the right, by written notice to the Company, to accelerate all Compensation payable to him (or his estate) pursuant to
this clause (c) and the Company shall pay all such Compensation to Mr. Trump (or his estate) not more than five business days following the Company’s receipt of such notice of acceleration; (d) in the event of a termination of this Agreement
pursuant to Section 2.1(b)(vii) hereof, without limiting the provisions of the immediately preceding clauses (a) and (b) of this Section 2.2, at or prior to the expiration of the Notice Termination Period, the Company shall pay to Mr.
Trump in cash a lump sum payment in an aggregate amount equal to the Annual Base Fee, multiplied by three; and (e) in any event, the provisions of Sections 3.3(b), 4.1 (to the extent that any terms defined therein are used in
any provision that shall survive the termination of this Agreement as provided herein), 4.2, 4.3, 4.4, 4.9, 4.10 and 4.11 shall (except as otherwise specifically provided therein) survive any expiration or
termination of this Agreement indefinitely. 
  
 Section 2.3.
Administrative Leave. In the event that Mr. Trump is Indicted, the Company’s Board of Directors may determine in good faith that it would be in the best interests of the Company to place Mr. Trump on paid administrative leave from
his services as a director of the Company during the pendency of such Indictment. During such paid administrative leave, Mr. Trump shall continue to be entitled to, and shall receive, Compensation as provided herein; provided, however,
that Mr. Trump shall reimburse the Company for any Compensation that is earned and paid to him during such administrative leave if the disposition of such Indictment shall result in a conviction of, or plea of guilty or no contest by, Mr. Trump of
any felony contemplated by such Indictment. For the avoidance of doubt, no Indictment (in and of itself) shall be deemed grounds for Cause. 
  
 ARTICLE III. 
  
 COMPENSATION; EXPENSES 
  
 Section 3.1. (a) Annual Base Fee. In consideration for Mr. Trump’s services hereunder, the Company shall pay to Mr. Trump an annual base fee of $2,000,000 (the “Annual Base
Fee”), payable in arrears to Mr. Trump in equal monthly installments. 
  
 (b) Bonus. In addition to the Annual Base Fee, Mr. Trump shall be eligible to receive, when and as determined by the
Compensation Committee of the Board of Directors of the Company, an annual bonus, which bonus shall be in such amount as shall be determined by the Compensation Committee in its sole discretion. 
  
 (c) Warrant. In consideration of Mr. Trump
entering into this Agreement, simultaneously with the execution and delivery hereof by Mr. Trump, the Company shall issue to Mr. Trump the Ten Year Warrant (as defined in the Investment Agreement), free and clear 

  

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of any and all Encumbrances (as defined in the Investment Agreement), other than any Encumbrances specifically set forth in the Amended Agreements, the
Services Agreement and the Voting Agreement (as each such term is defined in the Investment Agreement). 
  
 Section 3.2. Expenses. (a) Subject to Section 3.2(b) hereof, the Company shall reimburse Mr. Trump for all reasonable and
documented expenses (including, without limitation, all Travel Expenses and any expenses relating to Mr. Trump obtaining and maintaining any Material Consent) incurred by Mr. Trump or any of his controlled affiliates in respect of the performance of
Mr. Trump’s obligations under this Agreement or otherwise in respect of his service as Chairman of the Board of Directors of the Company. 
  
 (b) From time to time during the term hereof, Mr. Trump shall be entitled to submit to the Compensation Committee of the Board of
Directors for its approval a proposed budget (a “Budget”) for Administrative Expenses, as described in such Budget. The Company shall reimburse Mr. Trump for all Administrative Expenses incurred by Mr. Trump or any of his controlled
affiliates to the extent that such Administrative Expenses are contemplated by a Budget therefor approved (prior to their incurrence) by the Compensation Committee of the Board of Directors of the Company and reasonably documented by Mr. Trump. For
the avoidance of doubt, the provisions of this Section 3.2(b) shall not apply to, and no Budget shall be required hereunder or otherwise with respect to, any Travel Expenses (which shall be subject to reimbursement in accordance with
Section 3.2(a)). 
  
 (c) Any reimbursement
of expenses pursuant to this Section 3.2 shall be effected by the Company not more than ten business days after its receipt of an invoice therefor from Mr. Trump. 
  
 Section 3.3. Benefits. 
  
 (a) For so long as he is serving as Chairman of the Board of Directors of the Company, Mr. Trump shall be
entitled to fringe benefits and perquisites in accordance with the most favorable plans, practices, programs, policies and arrangements of the Company as in effect at the time with respect to other directors of the Company, including, without
limitation, first-class travel accommodations on all commercial carriers for travel related to the business of the Company. 
  
 (b) Without limiting the provisions of Section 3.3(a) hereof, Mr. Trump shall be eligible to participate in any and all other
benefit plans or arrangements of the Company for which present or former directors of the Company are eligible, in accordance with his status at the applicable time. 
  
 Section 3.4. Office and Support Services. During the term of this Agreement, Mr. Trump shall be
entitled to office space, and to secretarial and other support services, consistent with his role as Chairman of the Board of Directors. 
  
 Section 3.5. No Responsibility to Withhold. The parties acknowledge and agree that Mr. Trump, as Chairman of the Board of Directors,
shall not be deemed an employee of the Company and that, as a consequence, the Company shall have no responsibility to withhold from any payments made to Mr. Trump, and Mr. Trump shall be solely liable for the 

  

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payment of, any federal, state or local taxes that may be assessable in respect of the Compensation and other benefits payable to Mr. Trump pursuant to this
Article 3. 
  
 Section 3.6. Total
Compensation. Mr. Trump’s sole compensation in respect of his services under this Agreement shall be as provided in this Article III. 
  

ARTICLE IV. 
  
 DEFINITIONS; ADDITIONAL PROVISIONS 
  
 Section 4.1. Certain Definitions. In addition to the terms defined elsewhere in this Agreement, as used herein, the following terms shall have the following meanings: 
  
 “Administrative Expenses” means administrative and overhead
expenses (including, without limitation, any such expenses relating to staff or employees of Mr. Trump or any of his controlled affiliates) that are incurred by Mr. Trump or any of his controlled affiliates in respect of the performance of Mr.
Trump’s obligations under this Agreement or otherwise in respect of his service as the Chairman of the Board of Directors of the Company. For the avoidance of doubt, no Travel Expenses shall be deemed Administrative Expenses. 
  
 “Claim” means (a) any threatened, asserted, pending or
completed claim, demand, action, suit or proceeding, whether civil, criminal, administrative, arbitrative, investigative or other, and whether made pursuant to federal, state or other law, and (b) any inquiry or investigation, whether made,
instituted or conducted by the Company, THCR Holding or any other Person, including without limitation any federal, state or other governmental entity, that Mr. Trump determines might lead to the institution of any such claim, demand, action, suit
or proceeding. 
  
 “Casino and Gaming Activities”
means the business of owning, operating, managing or developing a casino or similar facility in which a principal business activity is the taking or receiving of bets or wagers upon the result of games of chance or skill, including hotel, dockside,
riverboat, cruise ship, and resort. 
  
 “Cause”
means if Mr. Trump: 
  
 (a) is convicted of, or
pleads guilty or no contest to any, felony; 
  
 (b) engages in conduct that constitutes (i) gross neglect or willful gross misconduct in carrying out his duties to the Company hereunder, in either case, resulting or reasonably likely to result in material economic harm to the Company or
TER Holdings, (ii) intentional fraud by Mr. Trump in the performance of his duties to the Company hereunder; or (iii) intentional misappropriation of the Company’s funds by Mr. Trump; 
  
 (c) materially breaches his obligations hereunder (except
under Section 1.1(b) or (c)); 
  
 (d) fails to maintain any Material License; or 
  

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 (e) materially and in a recurring manner breaches his obligations under Section
1.1(b) or (c) hereof; 
  
 provided, however, that, with
respect to the immediately preceding clauses (b), (c) and (e), Mr. Trump shall be given 30 days following his receipt of written notice thereof from the Company and TER Holdings to cure (to the extent capable of cure) any such action or omission
alleged to give rise to Cause under any such clause. For the purposes of this definition of Cause, no act or failure to act by Mr. Trump shall be considered “willful” unless done or omitted to be done by Mr. Trump in bad faith and without
reasonable belief that his action or omission was in the best interests of the Company. For the avoidance of doubt, any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board of Directors of the Company
(or any committee thereof) or based upon the advice of counsel to the Company shall be conclusively presumed to be done, or omitted to be done, by Mr. Trump in good faith and in the best interests of the Company. 
  
 “Compensation” means, collectively, any Annual Base Fee and
any bonus payable to Mr. Trump pursuant to Section 3.1(b) hereof. 
  
 “Contribution Agreement” means the Contribution Agreement, dated as of June 12, 1995, as amended from time to time, between Mr. Trump and TER Holdings. 
  
 “Good Reason” means, in each case without the prior written
consent of, or waiver by, Mr. Trump: (a) the failure for any reason of the stockholders of the Company to elect Mr. Trump as a director of the Company; (b) if then serving as a director of the Company, the failure for any reason of the Board of
Directors of the Company to elect Mr. Trump as the Chairman thereof; (c) any material increase or diminution in Mr. Trump’s authority or responsibility as the Chairman of Board of the Company as in effect on the date hereof; (d) the assignment
of duties or responsibilities that are inconsistent in any material respect with Mr. Trump’s position or status as the Chairman of the Board of Directors of the Company; or (e) the failure (for any reason) by the Company or TER Holdings, as the
case may be, to pay or provide to Mr. Trump any material amount of Compensation or benefit provided for under this Agreement, which failure shall have not been cured by the Company or TER Holdings, as the case may be, within 30 days after its
receipt of written notice thereof from Mr. Trump. 
  
 “Indemnifiable Claim” means any Claim, with respect to which Mr. Trump shall not be entitled to indemnification in full pursuant to the certificate of incorporation or by-laws of the Company or the limited partnership
agreement of TER Holdings (in each case, as in effect at the time that any such Claim is asserted), based upon, arising out of or resulting from: (a) any actual, alleged or suspected act or failure to act by Mr. Trump in his capacity as a director
(or Person in a similar position), officer, employee or agent of the Company or TER Holdings or as a director (or Person in a similar position), officer, employee, member, manager, trustee or agent of any other Person, whether or not for profit, as
to which Mr. Trump is or was serving at the request of the Company or TER Holdings, (b) any actual, alleged or suspected act or failure to act by Mr. Trump in respect of any business, transaction, communication, filing, disclosure or other activity
of the Company, TER Holdings or any other Person referred to in the immediately preceding clause (a); (c) Mr. Trump’s status as a current or former director (or Person in a similar position), officer, employee or agent of the Company or TER
Holdings or as a current or 

  

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former director (or Person in a similar position), officer, employee, member, manager, trustee or agent of the Company, TER Holdings or any other Person
referred to in the immediately preceding clause (a), or any actual, alleged or suspected act or failure to act by Mr. Trump in connection with any obligation or restriction imposed upon him by reason of such status; or (e) Mr. Trump’s
performance of his obligations under this Agreement; provided, however, that notwithstanding the foregoing, “Indemnified Claim” shall not include any Claim by the Company or any of its subsidiaries relating to a breach by Mr.
Trump or any of his controlled Affiliates under any agreement to which any of Mr. Trump or his controlled Affiliates, on the one hand, and the Company or any of its subsidiaries, on the other hand, is a party. 
  
 “Indemnifiable Losses” means any and all Losses
relating to, arising out of or resulting from any Indemnifiable Claim. 
  
 “Indictment” or “Indicted” means the issuance of a felony indictment by a governmental authority of the United States. 
  
 “Losses” means all damages, losses, liabilities, obligations, fines, penalties, costs and expenses
(including settlement costs, court costs and any reasonable legal, expert and consultant fees and expenses incurred in connection with defending any actions). 
  

“Material License” means any material casino gaming license and qualification that Mr. Trump is required to obtain to serve as the
Chairman of the Board of the Company with respect to any jurisdiction in which the Company or its subsidiaries conduct casino gambling activities. 
  
 “Own” shall have the meaning set forth in the Voting Agreement. 
  
 “Permanent Disability” shall mean any physical or mental disability or infirmity that prevents, or is
reasonably likely to prevent, Mr. Trump’s service as Chairman of the Board of Directors of the Company for a period of 120 consecutive days during any 12-month period; provided that any question as to the existence, extent or
potentiality of Mr. Trump’s Permanent Disability upon which Mr. Trump and the Company cannot agree shall be determined by a qualified, independent physician selected by Mr. Trump and approved by the Company, and the determination of any such
physician as to Mr. Trump’s Permanent Disability shall be final, conclusive and binding upon the parties hereto for all purposes under this Agreement. 
  
 “Person” means any individual, corporation, partnership (general or limited), limited liability company, joint venture, association,
joint-stock company, trust or unincorporated organization. 
  
 “Prior Agreement” means any of (a) the Amended and Restated Executive Agreement, dated as of January 1, 2003, by and among Mr. Trump, the Company and TER Holdings, or (b) the Amended and Restated Executive Agreement, dated
as of January 1, 2003, by and among Mr. Trump, the Company, TER Holdings and Trump Atlantic City Associates, a New Jersey general partnership. 
  
 “Specified Event” means any promotional or marketing activity (not to exceed two consecutive hours in duration) on behalf of the Company
in which the Company requests 

  

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that Mr. Trump participates at the Company’s sole expense (the nature and timing of which participation by Mr. Trump shall be subject to Mr.
Trump’s sole discretion) at any of the Company’s hotel and gaming facilities located in the continental United States (one or all of which facilities may be located in the same city, state or other domestic geographic region). 

 
 “subsidiary” means, with respect to any Person: (a) a
corporation a majority of whose voting stock is at the time, directly or indirectly, owned by such Person, by such Person and one or more subsidiaries of such Person or by one or more subsidiaries of such Person; (b) any other Person (other than a
corporation) in which such Person (above), one or more subsidiaries of such Person, or such Person and one or more subsidiaries of such Person, directly or indirectly, at the date of determination thereof have a majority ownership or equity
interest; or (c) a partnership or limited liability company in which such Person or a subsidiary of such Person is, at the time, general partner or a managing member (or serves in a similar capacity) and has a majority ownership or equity interest.

  
 “Travel Expenses” means any expenses incurred
(consistent with past practice) by Mr. Trump or any of his controlled affiliates in respect of travel (via private or chartered airplane or otherwise), lodging and entertainment activities which are incurred in respect of Mr. Trump’s service as
Chairman of the Board of Directors of the Company or otherwise in respect of his performance of services under this Agreement (including in connection with any promotional or marketing activities requested by the Company). 
  
 “Voting Agreement” means the Voting Agreement, dated as of
May 20, 2005, by and among the Company and the stockholders of the Company identified therein, as amended from time to time. 
  
 “Western Region” means any place within the continental United States that is located west of the Mississippi River. 
  
 Section 4.2. CHOICE OF LAW. THIS AGREEMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO ITS PRINCIPLES OF CONFLICTS OF LAWS. 
  
 Section 4.3. Confidential Information. Neither the Company nor Mr. Trump shall disclose or permit the disclosure of any information
identified as confidential by either of them except (a) to the directors (or Persons in similar positions), officers, agents, employees or representatives of the Company and TER Holdings and their respective subsidiaries; (b) if required by a court
of competent jurisdiction or other governmental agency or body or otherwise required by law or legal process; or (c) to the extent reasonably required to perform this Agreement. 
  
 Section 4.4. Indemnification and Insurance. 
  
 (a) The Company and TER Holdings shall jointly and severally
indemnify, defend and hold harmless Mr. Trump, to the fullest extent permitted or required by the laws of the State of Delaware in effect on the date hereof or as such laws may from time to time hereafter be amended to increase the scope of such
permitted indemnification, against any and 

  

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all Indemnifiable Claims and Indemnifiable Losses. Each of the Company and TER Holdings acknowledges that the foregoing obligation may be broader than that
now or hereafter provided by applicable law and/or its respective certificate of incorporation, bylaws, partnership agreement or other similar documents, and each of the Company and TER Holdings hereby intends that such obligation be interpreted
consistently with this Section 4.4. 
  
 (b) Mr. Trump shall have the right to advancement by the Company and/or TER Holdings prior to the final disposition of any Indemnifiable Claim of any and all actual and reasonable costs and expenses (including, without limitation, any court
costs and any reasonable legal, expert and consultant fees and expenses) incurred in connection with defending any actions relating to, arising out of or resulting from any Indemnifiable Claim paid or incurred by Mr. Trump, which advancements shall
be promptly repaid by Mr. Trump if a court of competent jurisdiction finally determines that Mr. Trump is not entitled to indemnification hereunder. Without limiting the generality or effect of the foregoing, within five business days after any
request by Mr. Trump that is accompanied by reasonable supporting documentation for any such expenses to be reimbursed or advanced, the Company and/or TER Holdings shall, in accordance with such request (but without duplication), (i) pay such
expenses on behalf of Mr. Trump, (ii) advance to Mr. Trump funds in an amount sufficient to pay such expenses, or (iii) reimburse Mr. Trump for such expenses. For the avoidance of doubt, the Company’s and TER Holdings’ obligations under
this Section 4.4(b) shall be joint and several. 
  
 (c) The Company shall continue to maintain in full force and effect director and officer liability insurance for the benefit of Mr. Trump consistent with its current practices. Without expanding the obligations of the Company under the
immediately preceding sentence, the provisions of this Section 4.4(c) shall survive the expiration or termination of this Agreement for any reason for 10 years after such expiration or termination or such longer period as the Company
maintains such insurance from time to time for the benefit of its former directors. 
  
 Section 4.5. Notices. All notices to be given hereunder shall be given in writing and shall be deemed given when delivered by messenger (including delivery by overnight express delivery services)
or by first-class U.S. mail, with postage prepaid, registered or certified, and if intended for the Company or TER Holdings, delivered or addressed to the following addresses (or at such address for a party as shall be specified by like notice):

  
 Trump Entertainment Resorts, Inc. 
 1000 Boardwalk at Virginia 
 Atlantic City, NJ
08401 
 Attention: Robert M. Pickus, Esq. 
  

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 and if intended for Mr. Trump, delivered or addressed to: 
  
 c/o The Trump Organization 
 725 Fifth Avenue 
 New York, New York 10022 
 Attention:  Donald J. Trump 
                    Allen Weisselberg 
                    Jason D. Greenblatt, Esq. 
  
 Section 4.6. Limitations on Rights of Third Parties. Except as otherwise set forth herein, nothing in this Agreement is intended or
shall be construed to confer upon or give any Person, other than the parties hereto and their respective successors, any rights or remedies under or by reason of this Agreement or any transaction contemplated hereby. 
  
 Section 4.7. Assignments. This Agreement (other than the
right of Mr. Trump to receive payments of any amounts hereunder) may not be assigned (by operation of law or otherwise) without the prior written consent of the parties hereto and any purported or attempted assignment or other transfer of rights or
obligations under this Agreement without such consent shall be void and of no force or effect; provided, however, that, without delegating or otherwise relieving himself of his duties under applicable law as a director of the Company,
Mr. Trump shall have the right to provide his services hereunder through a business entity 100% of the equity interests of which shall be beneficially owned by him. 
  
 Section 4.8. No Joint Venture or Business Entity. Nothing expressed or implied in this Agreement is
intended or shall be construed to create or establish a joint venture, partnership or other business entity by, among or between the parties hereto. 
  
 Section 4.9. Amendments. This Agreement may not be amended, modified or altered, and no provision hereof may be waived, in any such
case in whole or in part, except by a subsequent writing signed by the parties hereto; provided, however, that no amendments may be made to this Agreement without the prior approval of the Compensation Committee of the Board of Directors of the
Company. 
  
 Section 4.10. Termination of Certain
Agreements. 
  
 (a) Each Prior Agreement
is hereby terminated and shall no longer be of any force or effect. 
  
 (b) The Contribution Agreement is hereby terminated and shall no longer be of any force or effect; provided, however, that the provisions of Section 2.1 of the Contribution Agreement shall survive such
termination. 
  
 Section 4.11. Limitation on
Damages. Neither party shall be liable to the other party for any consequential damages resulting from a breach of this Agreement. 
  
 Section 4.12. Limitation on Mr. Trump’s Activities. From the date hereof until May 20, 2015, Mr. Trump shall not engage in,
consult for, or be employed by (whether or not for compensation), directly or through any Person controlled directly or indirectly by him (other than 

  

 - 12 - 

 
through the Company), any Casino and Gaming Activities; provided, however, that it shall not be a violation of this Section if Mr. Trump (or or any such
Person) owns 5% or less of the outstanding equity interests or voting power of any publicly traded Person engaged, directly or indirectly, in Casino and Gaming Activities provided Mr. Trump’s (or such Person’s) ownership is passive and
neither Mr. Trump nor any of his Affiliates are actively involved in the management of such Person. This Section 4.12 shall survive the termination of this Agreement. 
  
 [remainder of page left blank] 
  

 - 13 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Services Agreement to be duly executed as
of the day and year first above written. 
  

			
	
	/s/    DONALD J.
TRUMP        
	 Name:
	 	Donald J. Trump
	
	 TRUMP ENTERTAINMENT RESORTS, INC.

		
	By:	 	/s/    JOHN P. BURKE        
	 Name:
	 	John P. Burke
	 Title:
	 	Executive Vice President and Treasurer
	
	 TRUMP ENTERTAINMENT RESORTS
HOLDINGS, L.P.

		
	By:	 	 Trump Entertainment Resorts, Inc.
 its general
partner

		
	By:	 	/s/    JOHN P. BURKE        
	 Name:
	 	John P. Burke
	 Title:
	 	Executive Vice President and Treasurer

  

			
	ACKNOWLEDGED AND AGREED:
	
	 TRUMP ATLANTIC CITY ASSOCIATES

		
	By:	 	 Trump Entertainment Resorts Holdings, L.P.
 its general
partner

		
	By:	 	 Trump Entertainment Resorts, Inc.
 its general
partner

		
	By:	 	/s/    JOHN P. BURKE        
	 Name:
	 	John P. Burke
	 Title:
	 	Executive Vice President and TreasurerAmended and Restated Trademark License Agreement

 Exhibit 10.7 
  
 EXECUTION VERSION 
  
 AMENDED AND RESTATED 
 TRADEMARK LICENSE
AGREEMENT 
  
 AMENDED AND RESTATED TRADEMARK LICENSE AGREEMENT
(the “Agreement”), made as of this 20th day of May, 2005 (the “Effective Date”) by and among
Donald J. Trump, an individual with an address at 721 Fifth Avenue, New York, New York 10022 (“Trump”), Trump Entertainment Resorts Holdings, L.P., a Delaware limited partnership formerly known as Trump Hotels & Casino Resorts
Holdings, L.P., with a principal place of business at 1000 Boardwalk at Virginia, Atlantic City, New Jersey 08401 (“Trump Holdings”) and, solely for purposes of Sections 5.3, 5.4, 9, 10.2.1 and 11 hereof, Trump Entertainment Resorts, Inc.,
a Delaware corporation formerly known as Trump Hotels & Casino Resorts, Inc., with a principal place of business at 1000 Boardwalk at Virginia, Atlantic City, New Jersey 08401 (“Company”) and the Trump Taj Mahal Associates, LLC, a New
Jersey limited liability company, with a principal place of business at 1000 Boardwalk at Virginia, Atlantic City, New Jersey 08401, Trump Plaza Associates, LLC, a New Jersey limited liability company, with a principal place of business at the
Boardwalk at Mississippi Avenue, Atlantic City, New Jersey 08401, Trump Marina Associates, LLC, a New Jersey limited liability company, with a principal place of business at Huron & Brigantine Blvd., Atlantic City, New Jersey 08401, and Trump
Indiana, Inc., a Delaware corporation, with a principal place of business at One Buffington Harbor, Gary, Indiana 46401. 
  
 R E C I T A L S: 
  
 WHEREAS, Trump and Company entered into that certain Trademark License Agreement, dated as of June 12, 1995, as amended,
relating to the Licensed Marks (the “Prior Agreement”), and that certain Trademark Security Agreement, dated as of June 12, 1995, as amended (the “Security Agreement”). 
  
 WHEREAS, on November 21, 2004, the Company and certain of its subsidiaries
(collectively, the “Debtors”), filed voluntary petitions under chapter 11 of title 11 of the United States Code, 11 U.S.C. §§ 101-1330 (the “Bankruptcy Code”), in the United States Bankruptcy Court for the District of
New Jersey (the “Bankruptcy Court”). The Debtors’ chapter 11 cases are being jointly administered under case numbers 04-46898 through 04-46925 (JHW); 
  
 WHEREAS, on April 5, 2005, by written order, the Bankruptcy Court confirmed the Debtors’ Second Amended Joint Plan of
Reorganization, dated as of March 30, 2005 (the “Plan”); 
  
 WHEREAS, pursuant to the Plan, all executory contracts and unexpired leases of the Reorganized Debtors (as defined in the Plan) identified on the Contract/Lease Schedule (as defined in the Plan) were deemed to have
been assumed by the applicable Reorganized Debtor(s) on the Effective Date (as defined in the Plan) in accordance with the provisions and requirements of Sections 365 and 1123 of the Bankruptcy Code; 
  
 WHEREAS, the Prior Agreement and the Security Agreement were listed on the
Contract/Lease Schedule and, pursuant to the Plan, were assumed by the Company on the 

  

 
Effective Date (as defined in the Plan) in accordance with the provisions and requirements of Sections 365 and 1123 of the Bankruptcy Code; 
  
 WHEREAS, pursuant to that certain Assignment and Assumption Agreement, dated
as of May 20, 2005, Company assigned of all its rights and obligations under the Prior Agreement and the Security Agreement to Trump Holdings; 
  
 WHEREAS, Trump and Trump Holdings desire to amend and restate the Prior Agreement, as provided herein, and the Security Agreement, as provided in that
certain Amended and Restated Security Agreement to be entered into by Trump and Trump Holdings on even date herewith (the “Amended Security Agreement”); 
  
 WHEREAS, by virtue of advertising, promoting, and adhering to the highest standards of service and marketing, Trump has made
the names and marks “DONALD J. TRUMP,” “DONALD TRUMP,” “D. J. TRUMP” and “D. TRUMP” (collectively, the “Donald Name”), and “TRUMP” (the “Trump Name” and together with the Donald
Name, the “Trump Names”) well known to the public and they enjoy among the trade and the public a superior reputation and widespread goodwill with respect to the style and quality of services and products bearing the Trump Names;

  
 WHEREAS, Trump is the owner of all rights in the Trump Names
in the United States or where Trump has registered trademarks for Casino Services and Products (as hereinafter defined) outside the United States, in each case for use in connection with Casino and Gaming Activities, and of each of the trademarks,
service marks and registrations and applications listed on Schedule A annexed hereto (the Trump Names with respect to the foregoing uses, together with each of the marks, registrations and applications listed on Schedule A and, subject to Section
2.2 hereof, any derivatives thereof, shall be referred to hereinafter, collectively, as the “Licensed Marks”); 
  
 WHEREAS, the Licensed Marks are of a unique character without an equivalent substitute; and 
  
 WHEREAS, pursuant to and in accordance with the Plan and that certain Amended and Restated Investment Agreement, dated as of
May 20, 2005, by and among the Company, Trump Holdings and Trump (the “Investment Agreement”), Trump has agreed to grant to Trump Holdings, and Trump Holdings desires to acquire from Trump, a perpetual, exclusive, royalty-free, worldwide
license to use the Licensed Marks and Trump’s likeness in connection with Casino and Gaming Activities (as hereinafter defined), subject to the terms and conditions herein; 
  
 NOW, THEREFORE, in consideration of the mutual premises and covenants contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree to amended and restate the Prior Agreement as follows: 
  

 - 2 - 

 1. Definitions. 
  
 1.1. “Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such Person. 
  
 1.2. “Amended Security Agreement” shall have the meaning set forth in the Preamble. 
  
 1.3. “Casino and Gaming Activities” shall mean the business of owning, operating, managing or developing a casino or similar facility in which a
principal business activity is the taking or receiving of bets or wagers upon the result of games of chance or skill, including hotel, dockside, riverboat, cruise ship, transportation, entertainment, sports, resort, bar, restaurant and retail
(subject to Section 2.3 hereof) services in connection with any of the foregoing activities. 
  
 1.4. “Casino Services and Products” shall mean (i) Casino and Gaming Activities and activities, services and products conducted, provided, sold or distributed in connection therewith solely within Company
Property or as set forth in Section 2.3 hereof; and (ii) advertising and promotion of the foregoing. 
  
 1.5. “Cause” shall have the meaning set forth in the Services Agreement. 
  
 1.6. “Company Property” shall mean any of (i) Trump Taj Mahal Casino Resort, (ii) Trump Plaza Hotel and Casino,
(iii) Trump Marina Hotel Casino, (iv) Trump Indiana Casino Hotel, (v) Trump 29 Casino, and (vi) any casino or other gaming facility, or lodging, restaurant, entertainment or other facility for Casino and Gaming Activities at a casino or other gaming
facility, in each case that Trump Holdings, Company or any of their respective Subsidiaries, owns, operates, manages or develops, it being acknowledged and agreed that, for purposes of Sections 5.3 and 5.4 hereof, any one location comprised of both
(i) a casino or other gaming facility and (ii) a restaurant, entertainment or other facility for Casino and Gaming Activities at a casino or gaming facility, will be considered one Company Property. 
  
 1.7. “Compensation” shall have the meaning set forth in the
Services Agreement. 
  
 1.8. “Conversion Date” shall
have the meaning set forth in Section 5.2. 
  
 1.9. “Domain
Names” shall mean the Internet domain names (or similar or successor address system) containing the Licensed Marks which promote Casino and Gaming Activities. 
  
 1.10. “EBITDA” shall mean, with respect to an applicable Company Property, for an applicable period, an amount
equal to the sum of (i) the net income (or loss) of the Company and its consolidated Subsidiaries for such period determined in accordance with generally accepted accounting principles, consistently applied, excluding any extraordinary, unusual or
non-recurring gains or losses, plus (ii) all amounts deducted in computing such net income (or loss) in respect of interest (including the imputed interest portions of rentals under 

  

 - 3 - 

 
capitalized leases), depreciation, amortization and taxes based upon or measured by income, plus (iii) other non-cash charges arising from market
value adjustments and adjustments pertaining to contributions of deposits in each case in respect of CRDA Bonds. 
  
 1.11. “Effective Date” shall have the meaning set forth in the Preamble. 
  
 1.12. “Entity” shall mean any general partnership, limited partnership, limited liability company, corporation,
joint venture, trust, business trust, real estate investment trust, association or other entity. 
  
 1.13. “Existing Agreements” shall have the meaning set forth in Section 2.3. 
  
 1.14. “Good Reason” shall have the meaning set forth in the Services Agreement. 
  
 1.15. “Investment Agreement” shall have the meaning set forth in
the Preamble. 
  
 1.16. “License” shall have the meaning
set forth in Section 2.1. 
  
 1.17. “Licensed Marks”
shall have the meaning set forth in the Preamble. 
  
 1.18.
“Nonconforming Activities” shall have the meaning set forth in Section 4.2. 
  
 1.19. “Permanent Disability” shall have the meaning set forth in the Services Agreement. 
  
 1.20. “Permitted Transferee” shall mean (i) the spouse and descendants of Trump (including any related trusts controlled by, and established and
maintained for the sole benefit of, Trump or such spouse or descendants), (ii) the estate of any of the foregoing, and (iii) any Entity of which Trump has a majority ownership interest. 
  
 1.21. “Person” shall mean any natural person or Entity. 
  
 1.22. “Prior Agreement” shall have the meaning set forth in the
Preamble. 
  
 1.23. “Royalty License” shall have the
meaning set forth in Section 5.1. 
  
 1.24. “Royalty
Option” shall have the meaning set forth in Section 5.1. 
  
 1.25. “Security Agreement” shall have the meaning set forth in the Preamble. 
  
 1.26. “Special Committee” shall mean the committee of the Company’s Board of Directors composed of two or more directors, none of whom is
an officer or employee of Company, Trump Holdings or any of their respective Affiliates, or an Affiliate of Trump or any of his Affiliates; provided, however, that a Person shall not be deemed to be such an Affiliate for purposes of this sentence
solely by reason of being a member of the Company’s Board of Directors or that of any of its Subsidiaries. 
  

 - 4 - 

 1.27. “Services Agreement” shall mean that certain Services Agreement, dated as of the date
hereof, as amended from time to time, entered into by and among Trump, Company and Trump Holdings. 
  
 1.28. “Subsidiary” of any Person means (i) a corporation a majority of whose voting stock is at the time, directly or indirectly, owned by such
Person, by such Person and one or more Subsidiaries of such Person or by one or more Subsidiaries of such Person, (ii) any other Person (other than a corporation) in which such Person, one or more Subsidiaries of such Person, or such Person and one
or more Subsidiaries of such Person, directly or indirectly, at the date of determination thereof has at least a majority ownership interest, or (iii) a partnership in which such Person or a Subsidiary of such Person is, at the time, a general
partner and has a majority ownership interest. 
  
 1.29.
“Termination Event” shall have the meaning set forth in Section 5.1 hereof. 
  
 1.30. “Trump Names” shall have the meaning set forth in the Preamble. 
  
 2. License. 
  
 2.1. License to Trump Holdings. Subject to the terms and conditions hereof, Trump hereby grants to Trump Holdings, and Trump Holdings hereby
accepts, upon the terms and conditions set forth herein, a perpetual, exclusive (including as to Trump), royalty-free, worldwide right and license, with the right of sublicense only as provided in Section 10.2 hereof: 
  
 2.1.1 to use the Licensed Marks solely in connection with
Casino Services and Products. 
  
 2.1.2 to use
Trump’s likeness solely in connection with Casino Services and Products. 
  
 2.1.3 to use the Licensed Marks as Domain Names, provided that any Domain Name is used only as a URL for a website maintained by Trump Holdings or Company solely for the purposes of advertising and/or offering Casino
Services and Products; provided, however, that the license grant does not include the right to use the Licensed Marks or Trump’s likeness in connection with online or Internet gaming or any form of electronic gaming activities, which activities
are expressly prohibited under this Agreement (hereinafter referred to, collectively, as the “License”). Notwithstanding the foregoing, Trump and Trump Holdings agree to negotiate in good faith an agreement pursuant to which Trump shall
grant to Trump Holdings the right to use the Licensed Marks in connection with online or Internet gaming activities; provided, however, that if the parties are unable to reach such agreement, neither Trump nor Trump Holdings may use the Licensed
Marks and/or Trump’s likeness in connection with such activities. Nothing contained herein shall preclude Trump from entering into negotiations with third parties for the use of the Trump Names and/or Trump’s likeness in connection with
online or Internet gaming activities, provided that Trump shall not enter into an agreement with any such third party in connection with such activities unless he shall have first presented such third-party’s final offer to Trump Holdings and
Trump Holdings 

  

 - 5 - 

 
shall have failed to (i) offer the identical terms to Trump within ten (10) days after receipt of such final offer and (ii) enter into a written agreement
with Trump upon such terms within thirty (30) days after receipt of such final offer. 
  
 2.2. Rights Retained by or Granted to Trump. 
  
 2.2.1 Nothing contained in this Agreement shall restrict or restrain Trump from using, registering, further licensing or otherwise
exploiting (i) the Trump Names and/or his likeness in connection with services, products and activities other than Casino Services and Products, including in connection with board games and similar games for consumer use such as chess, checkers,
backgammon, darts, cards, billiards, dominoes, tic tac toe, poker, Chinese checkers, cribbage, dice and marbles and (ii) marks other than the Licensed Marks, as well as terms included in the Licensed Marks that merely describe a type of product or
service (i.e., hotel and marina), for any purpose. For the avoidance of doubt and by way of example only, Trump shall have the right to use, register, license or otherwise exploit the Trump Names and/or Trump’s likeness anywhere in the world,
including, without limitation, in connection with hotel, dockside, riverboat, cruise ship, transportation, entertainment, sports, resort, bar, restaurant and retail store activities and services and merchandise provided or sold in connection
therewith, to the extent not provided or sold in connection with any Casino and Gaming Activities. Without limiting the foregoing, Trump hereby acknowledges and agrees that such uses shall conform in all material respects to the standards of quality
in existence prior to the Effective Date. 
  
 2.2.2 Trump Holdings hereby agrees that, any provision contained herein to the contrary notwithstanding, Trump may use the Licensed Marks and/or his likeness in connection with Internet websites maintained by Trump or his Affiliates,
including providing a link to those of Trump Holdings’, Company’s or their respective Subsidiaries’ Internet websites operated under or in connection with the Licensed Marks, provided that (i) any such use is of a quality consistent
with uses made by Trump or his Affiliates of the Licensed Marks or Trump’s likeness prior to the Effective Date and (ii) no such use disparages or otherwise suggests a negative opinion of any Company Property. If Trump Holdings reasonably
determines that any website use by Trump or his Affiliates has violated the foregoing, it shall so advise Trump in a written notice indicating with reasonable specificity the basis of such determination, and Trump shall cease the violating use
within five (5) business days after receipt of such notice. 
  
 2.2.3 Trump hereby acknowledges and agrees that his uses of the Licensed Marks, marks constituting the Licensed Marks and/or Trump’s likeness hereunder shall be conducted in a manner consistent with or exceeding
the high reputation and importance of the Licensed Marks as of the Effective Date. 
  
 2.3. Use of the Licensed Marks in Connection with Retail Services. 
  
 2.3.1 Subject to agreements in existence as of the Effective Date to which Trump is a party relating to the Licensed Marks and/or
Trump’s likeness (the “Existing Agreements”), Trump Holdings may use the Licensed Marks in connection 

  

 - 6 - 

 
with the operation of not more than five (5) retail stores owned by Trump Holdings; provided, however, that: (i) no such store, at the time initially opened
for business, shall be located within a ten (10)-mile radius of any retail establishment other than Company Properties offering products bearing any Licensed Marks and/or Trump’s likeness; (ii) Trump Holdings shall not use the Trump Name apart
from the Licensed Marks in connection with any such store (i.e., Trump Holdings may use Trump Taj Mahal or Taj Mahal, but not Trump); and (iii) no such store shall compete or conflict with the Existing Agreements. Notwithstanding clause (i) above,
Trump Holdings may use the Licensed Marks in connection with the ownership and operation of retail stores located in airports within any distance from establishments offering products bearing any Licensed Marks and/or Trump’s likeness. All
stores established pursuant to this Section 2.3 may only sell and offer for sale the products set forth on Schedule B hereof, which Schedule may be amended from time to time by mutual written agreement of Trump Holdings and Trump. Nothing contained
in this Section 2.3 shall prevent Trump Holdings from operating any number of retail stores on Company Property. 
  
 3. Representations and Warranties. 
  
 3.1. Representations and Warranties of Trump. Trump hereby represents and warrants that: 
  
 3.1.1 Trump is authorized to enter into this Agreement, and
his entry into this Agreement is not and would not, with the passage of time, be in material breach or violation of any governmental order or law or the contractual rights of any third party (by contract or otherwise); 
  
 3.1.2 The Licensed Marks constitute all of the trademarks,
service marks and trade names currently owned or used by Trump or any Entity owned or controlled by Trump in connection with any Casino Services and Products which consist of or incorporate the Trump Names; 
  
 3.1.3 Trump is the owner of the Licensed Marks in the United
States or where Trump has registered trademarks for Casino Services and Products outside the United States, and his rights therein are, free and clear of all liens and encumbrances and licenses to third parties (other than (i) the licenses granted
pursuant to that certain Trademark Sublicense and Consent, by and among Trump, Company and Trump Holdings, dated as of July 24, 2003, in connection with that certain Bankcard Joint Marketing Agreement, by and among Trump Taj Mahal Associates and
Bank One, dated as of July 24, 2003; and (ii) the security interest granted by Trump in favor of Trump Holdings pursuant to the Amended Security Agreement, including without limitation any claims arising under “community property” or
similar laws; 
  
 3.1.4 To the best of
Trump’s knowledge, there is no material claim, suit, action or proceeding pending or threatened against Trump or any Entity owned or controlled by Trump with respect to the validity of any of the Licensed Marks, Trump’s ownership of any of
the Licensed Marks, the infringement of any of the Licensed Marks 

  

 - 7 - 

 
by any third party or the infringement of the rights of any third party arising out of the use of any of the Licensed Marks; 
  
 3.1.5 The Licensed Marks are valid and enforceable in the
United States and, to the best of Trump’s knowledge, the Licensed Marks are valid and enforceable elsewhere in the world; 
  
 3.1.6 To the best of Trump’s knowledge, no third party owns or has asserted any rights in the Licensed Marks and, to the best of
Trump’s knowledge, the Licensed Marks do not infringe any rights of any third party; and 
  
 3.1.7 To the best of Trump’s knowledge, all renewal and other maintenance fees for registrations of any of the Licensed Marks or
applications therefor which have fallen due on or prior to the Effective Date have been paid. 
  
 3.2. Representations and Warranties of Trump Holdings. Trump Holdings represents and warrants that it is duly formed and validly existing under the laws of Delaware, that it is authorized to enter into this
Agreement, and that its entry into this Agreement is not and would not, with the passage of time, be in breach or violation of any governmental order or law or the rights of any third party (by contract or otherwise). 
  
 4. Quality Control. 
  
 4.1. Review. In order to maintain the validity of the Licensed Marks
and to protect the goodwill and integrity associated with the Licensed Marks and Trump’s likeness, Trump shall have the right to exercise quality control over the use of the Licensed Marks and Trump’s likeness in accordance with the
following: 
  
 4.1.1 Trump Holdings shall not be
required to submit samples for uses of the Licensed Marks and Trump’s likeness by Trump Holdings and its sublicensees made prior to the Effective Date, provided the level of quality is consistent with such prior uses (collectively, the
“Prior Uses”). 
  
 4.1.2 Trump Holdings
shall not be required to submit samples for uses of the Licensed Marks and Trump’s likeness by Trump Holdings and its sublicensees if such uses are substantially similar in type and quality to the Prior Uses. 
  
 4.1.3 Uses of the Licensed Marks by Trump Holdings and its
sublicensees that are not substantially similar to the Prior Uses, as well as any and all new uses of Trump’s likeness, shall be at a level consistent with the standards of quality associated with the Licensed Marks and Trump’s likeness as
used by Trump Holdings and its sublicensees. In adhering to these standards, Trump Holdings shall be guided by the standards of quality established for the Licensed Marks and Trump’s likeness as of the Effective Date. Upon Trump’s request,
Trump Holdings shall submit for Trump’s prior approval, representative samples of proposed uses (other than Prior Uses) of the Licensed Marks by Trump Holdings and its sublicensees; provided, however, that Trump Holdings shall submit for
Trump’s prior approval samples of all proposed uses of Trump’s likeness (other than Prior Uses). Trump may reject any sample if Trump 

  

 - 8 - 

 
reasonably believes the use thereof will harm the validity, goodwill and/or integrity of the Licensed Marks and/or Trump’s likeness. Trump shall advise
Trump Holdings in writing of his approval or rejection of each such sample, stating with reasonable specificity any objections thereto, and Trump Holdings shall refrain, and cause its sublicensees to refrain, from any rejected use until Trump’s
objections have been satisfied. If Trump does not send such notice within ten (10) business days following receipt of such sample, the sample shall be deemed approved. If Trump rejects a sample, Trump Holdings may modify such sample to address
Trump’s written objections and, if addressed to Trump’s reasonable satisfaction, Trump shall approve the sample. 
  
 4.1.4 The parties acknowledge that due to the nature of the Casino Services and Products, any inspection of such services and products and
of Trump Holdings’ and/or its sublicensees’ premises where activities relating to the Licensed Marks are conducted, such as is necessary for Trump to monitor Trump Holdings’ and its sublicensees’ compliance with the quality
standards, may in certain circumstances be conducted in publicly accessible facilities and that Trump and/or his representative(s) shall be free to inspect such publicly accessible facilities or publicly available products and materials; provided,
however, that Trump and/or his representative(s) shall do so in a discrete manner without materially disrupting or interfering with the normal operations of such facilities. 
  
 4.2. Misuse; Cure Provision; Termination. 
  
 4.2.1 All uses of the Licensed Marks and Trump’s likeness shall be at levels consistent with or
exceeding the standards of quality associated with them as of the Effective Date or as otherwise approved by Trump in accordance with Section 4.1.3 hereof. In the event that Trump, upon review of samples submitted by Trump Holdings or inspection of
the premises of Trump Holdings or its sublicensees pursuant to Section 4.1 hereof, in his reasonable business judgment, believes that Trump Holdings or its sublicensees, in their conduct of activities under the Licensed Marks, have failed to meet
such quality standards, Trump shall provide Trump Holdings with written notice thereof. Such notice shall specify the activities that fail to comply with such standards (the “Nonconforming Activities”) and the manner in which such
Nonconforming Activities fail to meet such standards. Trump Holdings shall cooperate with Trump to correct or cure such non-compliance within sixty (60) days from the date of Trump’s notice thereof. If after sixty (60) days from the date of
notice by Trump to Trump Holdings, Trump Holdings shall have failed to correct (or to have caused its sublicensees to correct) such Nonconforming Activities, Trump’s sole and exclusive remedy shall be to maintain an action in the district court
for the Southern District of New York or state court located in New York City for declaratory judgment and/or injunctive relief seeking to compel Trump Holdings to comply (or to cause its sublicensees to comply) with the quality control standards,
and any such remedy shall be limited to the Licensed Marks that are the subject of the Nonconforming Activities. Trump shall not have the right to terminate this Agreement for any breach or alleged breach of the quality control standards, unless a
court determines that Trump Holdings has failed to comply with a court order or injunction respecting quality standards obtained by Trump in a proceeding brought by Trump pursuant to this Section 4.2. Trump Holdings shall pay all costs and expenses

  

 - 9 - 

 
incurred by Trump in maintaining an action pursuant to this Section 4.2 in the event a court determines that Trump Holdings and/or its sublicensees engaged
in Nonconforming Activities and failed to correct such Nonconforming Activities within sixty (60) days from the date of notice thereof. Trump shall pay all costs and expenses incurred by Trump Holdings in the event a court determines that neither
Trump Holdings nor its sublicensees engaged in Nonconforming Activities. 
  
 5. Conversion to Royalty-Bearing License. 
  
 5.1. Royalty License. In the event that: (a) the Services Agreement is terminated (i) by Company and/or Trump Holdings other than for Cause, or (ii) by Trump for Good Reason, or (b) Company and Trump Holdings
are not offering terms to Trump pursuant to a services agreement at least as favorable to Trump as the Services Agreement (in either case other than as a result of Trump’s death or Permanent Disability) ((a) and (b) together, a
“Termination Event”), then either of the following shall occur: 
  
 5.1.1 At the sole option of Trump Holdings (the “Royalty Option”), the License granted pursuant to Section 2.1 hereof shall convert to a royalty-bearing license as described in Sections 5.2, 5.3 and 5.4
hereof (the “Royalty License”); or 
  
 5.1.2 If Trump Holdings does not exercise the Royalty Option within fifteen (15) days after the occurrence of a Termination Event, this Agreement shall automatically terminate. 
  
 If there has occurred a termination of the Services Agreement (or Company and Trump Holdings are not offering terms to Trump pursuant to a
services agreement at least as favorable to Trump as the Services Agreement) and the circumstances giving rise to such termination were caused by (i) Company and Trump Holdings terminating the Services Agreement for Cause, (ii) Trump terminating the
Services Agreement other than for Good Reason, or (iii) Trump’s death or Permanent Disability, then no such royalty (or any other royalty) shall be payable to Trump pursuant to the Royalty License (i.e., such license shall be royalty-free).

  
 5.2. Term. The term of the Royalty License pursuant to
Section 5.1 shall be ten (10) years from the date of occurrence of a Termination Event (the “Conversion Date”). 
  
 5.3. Annual Royalty. Subject to the final paragraph of Section 5.1, for each Company Property that uses any Licensed Mark and/or Trump’s
likeness in connection with a Company Property, including Casino Services and Products provided for or offered in connection with the Company Property (regardless of the number of Licensed Marks used, or the number of uses of Trump’s likeness
made, by such Company Property), Company, Trump Holdings, such Company Property, and their respective Subsidiaries shall be jointly and severally obligated to pay to Trump, a royalty in the annual amount of: (i) $500,000 for each such Company
Property that has an annual EBIDTA of at least $25 million; or (ii) $100,000 for each such Company Property that has an annual EBITDA less than $25 million; provided, however, that the aggregate royalties payable under the Royalty License with
respect to all Company Properties shall in no event exceed $5 million per annum. All royalties payable under the Royalty License shall be paid quarterly in arrears, beginning on the Conversion Date. The 

  

 - 10 - 

 
first quarterly royalty payment hereunder shall be due and payable within thirty (30) days after the end of the quarter in which the Conversion Date occurs.
The annual EBITDA shall be calculated quarterly based upon the EBITDA for the four (4) full quarters immediately preceding each payment date; provided, however, within thirty (30) days after each annual period, the EBITDA for such annual period
shall be calculated and (a) if the EBITDA for any Company Property for which a $500,000 royalty was paid actually was less than $25 million, Trump shall refund $400,000 of such paid royalty to Trump Holdings, and (b) if the EBITDA for any Company
Property for which a $100,000 royalty was paid actually was equal to or exceed $25 million, Trump Holdings shall pay an additional $400,000 to Trump. The royalty payment for the period (the “Initial Period”) from the Conversion Date to the
end of the quarter in which the Conversion Date occurs shall be prorated based on the actual number days in the Initial Period. The royalty payments for the annual period beginning on the Conversion Date shall also be prorated based on the actual
number of days in the period from the Conversion Date through the end of the first annual period. In the event that the Services Agreement shall have been terminated for any reason, the royalties payable to Trump hereunder for any such quarterly
period following the Conversion Date shall be reduced by an amount equal to the amount of any Compensation payable for such period that shall have been actually paid to and received by Trump pursuant to Section 2.2(c) of the Services Agreement. If
such Compensation exceeds the amount of royalties payable hereunder, the excess amount shall be credited to future royalty obligations hereunder. Without limiting or waiving any other rights of Trump hereunder, any payments that are not paid within
thirty (30) days of such payment date shall bear interest from the end of such thirty-day period at the rate of ten (10%) percent per annum. If any Company Property ceases to use any Licensed Mark or Trump’s likeness in connection with such
Company Property and all Casino Services and Products provided therein, then Trump shall receive a pro-rata royalty during any such 12-month period in which such Company Property used any Licensed Mark or Trump likeness. 
  
 5.4. Audit Rights. Company, Trump Holdings and their Subsidiaries
shall maintain accurate records in sufficient detail to enable Trump to verify annual EBITDA of each Company Property in order to calculate royalties accrued under the Royalty License. Each of Company and Trump Holdings hereby grants Trump the
right, two times per year during the term of this Agreement and for two (2) years after expiration or termination, to examine, audit and copy such records and books of account, either directly or through his representatives, upon reasonable written
notice and during Company’s or Trump Holdings’ regular business hours. If any such inspection reveals, in Trump’s reasonable good faith judgment, any alleged underpayment of royalties, then Trump shall notify Company and Trump
Holdings (such notice shall set forth, in reasonable detail, the calculation of such alleged underpayment of royalties and the total amount of such underpayment) and Company, Trump Holdings, and the Company Property whose use of the Licensed Marks
or Trump likeness is the subject of such underpayment shall use their best efforts to resolve any such dispute with Trump. If such dispute is not resolved within fifteen (15) days after receipt of notice of such underpayment, the dispute shall be
submitted to a neutral independent auditor acceptable to both parties (the “Independent Auditor”) for resolution. The Independent Auditor shall determine (and written notice shall be given to the Company, Trump Holdings and Trump) as
promptly as practicable, but in any event within thirty (30) days of the date of which such dispute is referred to the Independent Auditor: (i) whether the amounts of EBITDA were prepared in accordance with the definition hereof and (ii) only with
respect to the disputed items submitted to the Independent Auditor, whether and to 

  

 - 11 - 

 
what extent (if any) any amount of royalties payable hereunder require adjustment. The determination of the Independent Auditor shall be final, conclusive
and binding on the parties, and Trump shall have the right to make and retain copies of any reports or other materials reviewed by the Independent Auditor in connection with the dispute. If any underpayment of royalties is finally determined by the
Independent Auditor to be owed to Trump, then Company, Trump Holdings, any Company Property whose use of the Licensed Marks and/or Trump likeness is the subject of such underpayment, and their respective Subsidiaries shall within five (5) days after
receipt of notice from the Independent Auditor that such underpayment is in fact due remit to Trump, and each shall be jointly and severally obligated to remit to Trump, the amount of such underpayment. In addition, if the amount of such
underpayment of royalties is determined by the Independent Auditor to exceed five (5%) percent, then Company, Trump Holdings, such Company Property, and their respective Subsidiaries shall (i) reimburse Trump for the full cost and expense of the
Independent Auditor and the inspection and (ii) pay interest on amount of such underpayment at the rate of ten (10%) per annum. 
  
 6. Duties and Covenants of Parties. 
  
 6.1. Duties and Covenants of Trump Holdings. Trump Holdings shall assume and fulfill the following obligations: 
  
 6.1.1 Trump Holdings agrees that all uses, including
display, advertising and/or promotional activities relating to and/or incorporating the Licensed Marks and/or Trump’s likeness by Trump Holdings and its sublicensees shall in all respects, including as to theme, media, content, standards and
policies, be conducted in a dignified manner consistent with or exceeding the high reputation and importance of the Licensed Marks and his likeness as in existence as of the Effective Date. 
  
 6.1.2 Trump Holdings shall, at its own cost and expense,
procure and maintain with respect to any and all of the Licensed Marks and Trump Holdings’ and its sublicensees’ use thereof, and provide Trump with certificates of insurance delivered to 725 Fifth Avenue, 26th floor, New York, New York 10022 evidencing as a minimum the following coverage: 
  

	 	I.	Comprehensive General Liability Insurance, written on an occurrence basis, with limits of $1 million per occurrence and $2 million general aggregate, excluding umbrella coverage,
for claims against bodily injury and property damage including loss or damage by terrorist acts. Such coverage shall include products liability and completed operations, broad form contractual (written and oral), personal injury and advertising
liability, and extending the definition of bodily injury to include humiliation and harassment. 

  

	 	II.	Worker’s Compensation Insurance subject to the statutory limits and employer’s liability insurance with a limit of at least $500,000 per accident and per disease per
employee. Professional Liability Insurance with limits of $10 million for each occurrence and $10 million general aggregate. 

  

 - 12 - 

	 	III.	Umbrella Liability Insurance in addition to primary coverage in an amount not less than $50 million per occurrence and $50 million aggregate on terms consistent with the
Comprehensive General Liability Insurance required hereof under subsection (I) above. 

  

	 	IV.	All policies of insurance procured by Trump Holdings shall be issued by insurance carriers with a financial strength and claims paying ability rating of at least “A- : X”
from A.M. Best Company. 

  

	 	V.	All policies procured by Trump Holdings shall name each of the Additional Insureds (as defined below) as additional insureds and shall be entitled to recover for any loss or damage
occasioned to it, its agents, employees and contractors by reason of negligence. The term “Additional Insureds” shall mean Donald J. Trump and all other Trump Names and any designees of Donald J. Trump, The Trump Organization and each of
their respective officers, agents, directors, employees, servants, partners and members. Additionally, all policies shall contain a waiver of subrogation against Trump and the Additional Insureds. 

  

	 	VI.	All policies of insurance must remain in force and may not be cancelled for non-payment of premium or allowed to lapse except after thirty days’ prior notice from the insurance
company to Trump Holdings and consequently replaced without any lapses in coverage, with the required minimum insurance coverage as required hereof in this Section of the Agreement. Trump Holdings shall be solely responsible for the payment of all
premiums and Trump shall have no obligations for the payment thereof notwithstanding that Trump is named as an additional insured. 

  
 6.1.3 Trump Holdings shall not violate in any material respect any applicable laws, regulations, orders, and other governmental and
regulatory requirements relating to the advertising, promotion, and operation of Trump Holdings. 
  
 6.1.4 Trump Holdings agrees, upon the reasonable written request of Trump and at Trump’s sole expense, to execute additional
documents or instruments deemed necessary or appropriate, in the reasonable judgment of Trump, to confirm the License and Royalty License contemplated herein or record this Agreement. 
  
 6.1.5 Trump Holdings shall not, subject to the terms of the Amended Security Agreement (i) challenge
Trump’s present and/or future use of the Licensed Marks to the extent such use is made pursuant to rights expressly retained by Trump hereunder, except as provided hereunder; (ii) contest the fact that Trump Holdings’ rights under this
Agreement are solely those of a licensee and will terminate as provided herein; (iii) represent in any manner that it has any title or right to the ownership, registration, and/or use of the Licensed Marks or Trump’s likeness, in any manner,
except as set forth in this Agreement; (iv) challenge the License and Royalty License (if applicable) granted hereunder or the legality of the terms hereof; (v) challenge Trump’s ownership of the Licensed Marks; or (vi) engage in any activity
which could reasonably, in Trump 

  

 - 13 - 

 
Holdings’ reasonable business judgment, be expected to harm the reputation of the Licensed Marks. 
  
 6.1.6 Trump Holdings acknowledges and agrees that nothing
contained in this Agreement and/or anything contemplated hereunder shall be construed to confer upon Trump Holdings any right to have the Licensed Marks registered in the name of Trump Holdings, unless authorized by Trump, which authorization shall
be deemed granted if, with respect to any country in which Trump Holdings has requested Trump to register any of the Licensed Marks other than the Trump Names pursuant to Section 6.2.3 hereof (assuming compliance by Trump Holdings with the terms of
Section 6.2.3), Trump fails to take such actions as are necessary to apply for registration within thirty (30) days from Trump Holdings’ written request that Trump obtain registration of such Licensed Mark. Trump Holdings further acknowledges
and agrees that nothing contained herein shall be construed to vest in Trump Holdings any right of ownership in or to the Licensed Marks, and other than as provided herein or in the Amended Security Agreement, Trump Holdings shall not, directly or
indirectly, register or cause to be registered in any country or governmental subdivision, any trademark, service mark or trade name consisting of, related to, and/or constituting a colorable imitation of the Licensed Marks. Notwithstanding the
foregoing, Trump Holdings may, at its sole expense and upon written notice to Trump within sixty (60) days thereafter, register any Domain Name as an Internet domain name (or similar or successor address), but not as a trademark or service mark.
Upon termination or expiration of this Agreement, Trump Holdings hereby agrees to allow any such registration for the Domain Name to lapse or, at the request of Trump, to cancel or assign to Trump any such registration without payment. 

 
 6.1.7 Trump Holdings agrees and undertakes to use the
Licensed Marks only in accordance with all requirements of all governmental authorities, foreign or domestic, having jurisdiction over Trump Holdings or the use by Trump Holdings of the Licensed Marks. 
  
 6.1.8 Trump Holdings agrees that, in using the Licensed
Marks, it will (if Trump shall request) add the designation ®, “SM”, or “TM”, or other registration or trademark or service mark notice, and (if Trump shall reasonably request in conformance with industry practice) a statement that the Licensed Marks are
trademarks or service marks of Trump licensed by Trump for use by Trump Holdings. 
  
 6.2. Duties and Covenants of Trump. 
  
 6.2.1 Trump agrees that he: (i) shall not challenge the License and Royalty License (if applicable) granted hereunder or the legality of the terms hereof and (ii) shall not violate in any material respect any
applicable laws, regulations, orders, and other governmental and regulatory requirements relating to the advertising, promotion, and operation of Trump Holdings. 
  
 6.2.2 Trump agrees, upon the reasonable written request of Trump Holdings and at Trump Holding’s sole
expense, to execute additional documents or 

  

 - 14 - 

 
instruments deemed necessary or appropriate, in the reasonable judgment of Trump Holdings, to confirm the License and Royalty License contemplated herein or
record this Agreement. 
  
 6.2.3 Trump hereby
agrees, upon the reasonable, written request of Trump Holdings and at Trump Holdings’ sole expense, to promptly execute all documents or instruments deemed reasonably necessary by Trump Holdings to permit Trump Holdings to (i) secure
registrations (and all renewals thereof) and applications for registration of the Licensed Marks (other than the Trump Names) in Trump’s name and (ii) file applications for registration of the Licensed Marks (other than the Trump Names) in
Trump’s name anywhere in the world, and Trump Holdings shall have the right to secure and maintain such applications or registrations or file such applications in Trump’s name anywhere in the world at Trump Holdings’ expense; provided
that Trump Holdings, in the prosecution of such applications or registrations, shall not agree to any disclaimer of the Trump Names or other limitation with respect to the Licensed Marks nor shall Trump Holdings enter into any agreement regarding
the Licensed Marks (other than the Trump Names) without Trump’s prior written consent, which consent shall not be unreasonably withheld or delayed. Trump Holdings shall provide copies of all such filings and related documents to Trump.

  
 6.2.4 Except as otherwise set forth in this
Agreement, as of the Effective Date, Trump shall immediately cease use of the Licensed Marks and all use of his likeness in connection with any and all Casino Services and Products, other than (i) in connection with his service to, or other
retention with, Trump Holdings, Company and/or their respective Subsidiaries or (ii) uses of his likeness for purposes other than the advertising or other promotion of Casino Services and Products. Trump agrees not to interfere with Trump
Holdings’ use of the Licensed Marks and/or Trump’s likeness in accordance with the terms of this Agreement. 
  
 7. Protection of Licensed Marks. 
  
 7.1. Notification of Unauthorized Use of Licensed Marks. In the event that Trump Holdings shall become aware of any unauthorized use or
infringement of any of the Licensed Marks or Trump’s likeness by any third party or any act of unfair competition by any third party relating to any of the Licensed Marks or Trump’ likeness, Trump Holdings shall promptly notify Trump of
such unauthorized use, act of unfair competition or infringement. In the event that Trump shall become aware of any unauthorized use or infringement of any of the Licensed Marks or Trump’s likeness by any third party or any act of unfair
competition by any third party relating to any of the Licensed Marks or Trump’s likeness, Trump shall promptly notify Trump Holdings of such unauthorized use, act of unfair competition or infringement. 
  
 7.2. Suits Related to Licensed Marks. 
  
 7.2.1 Trump Holdings, at its sole cost and expense, may
institute and prosecute infringement actions or similar proceedings with respect to the unauthorized use or infringement of any of the Licensed Marks or Trump’s likeness by any third party or any act of unfair competition by any third party
relating to any of the Licensed Marks 

  

 - 15 - 

 
or Trump’s likeness. In such event, Trump shall fully cooperate with Trump Holdings, at Trump Holdings’ sole cost and expense, in the prosecution
of such actions and shall, if requested by Trump Holdings, and at Trump Holdings’ sole cost and expense, join with Trump Holdings as a party to any action brought by Trump Holdings for such purpose. Any recovery as a result of any such
infringement or other action instituted by Trump Holdings with respect to the unauthorized use or infringement of any of the Licensed Marks or Trump’s likeness by any third party or any act of unfair competition by any third party relating to
any of the Licensed Marks or Trump’s likeness, shall belong solely to Trump Holdings, except that Trump shall have the right to recover from such third party losses and damages suffered as a direct consequence of such infringement or other
action. Should Trump Holdings fail to take action within ninety (90) days of receiving notice thereof (or otherwise notifies Trump of its intent not to take action), Trump may, at Trump’s expense, bring such action or proceeding and shall be
entitled to any recovery therefrom. 
  
 7.2.2 In
the event of the institution of any infringement action by a third party against Trump Holdings or any of its sublicensees for use of any of the Licensed Marks or Trump’s likeness in accordance with the provisions of this Agreement, Trump
Holdings shall promptly notify Trump of such action in writing. Trump shall cooperate in such defense as reasonably requested by Trump Holdings, at Trump Holdings’ expense. Any settlement of such suit shall be subject to Trump’s approval,
such approval not unreasonably to be withheld. If within such time as the situation may allow, Trump Holdings shall request Trump to consent to the proposed settlement, and Trump shall neglect or decline to do so, Trump shall, at Trump
Holdings’ sole option and upon notice by Trump Holdings, immediately undertake to continue the defense at his sole expense. In the event Trump fails so to assume the defense, if so requested, Trump Holdings shall have the right to settle such
matter upon terms Trump Holdings reasonably believes advisable or in Trump Holdings’ reasonable business discretion to continue the defense thereof. 
  
 7.3. Trump’s Duty to Indemnify Trump Holdings. 
  
 7.3.1 Trump hereby agrees to indemnify Trump Holdings and its Affiliates and their respective officers, agents and employees, and to hold
each of them harmless from and against any damages, liability, cost, claim, fee, obligation or expense, including reasonable attorneys’ fees and expenses incurred in defense of any of the foregoing (“Losses”), in connection with any
claim that the use by Trump Holdings of the Licensed Marks and/or Trump’s likeness in accordance with the terms of this Agreement infringes the intellectual property rights of any third party, provided, however, that the obligation to indemnify
and hold harmless hereunder shall not include any Losses suffered by Trump Holdings arising out of the negligence, bad faith or willful misconduct of Trump Holdings. 
  
 7.3.2 Trump shall indemnify, defend, and hold Trump Holdings, its Affiliates and their respective officers,
directors and employees harmless from and against any Losses arising out of Trump’s breach of any representation, warranty, obligation, covenant or other provision of this Agreement. 
  

 - 16 - 

 7.4. Trump Holdings’ Duty to Indemnify Trump. 
  
 7.4.1 Trump Holdings hereby agrees to indemnify and hold
Trump, his Affiliates and their respective officers, agents and employees, and to hold each of them harmless from and against any Losses arising out of or in connection with any Nonconforming Activities or use of the Licensed Marks and/or
Trump’s likeness, or any activities relating to use of the Licensed Marks and/or Trump’s likeness and/or conducted on Company Property bearing the Trump Name or other Licensed Mark; provided, however, that the obligation to indemnify and
hold harmless hereunder shall not include any Losses suffered by Trump arising out of the negligence, bad faith or willful misconduct of Trump. 
  
 7.4.2 Trump Holdings shall indemnify, defend and hold harmless Trump, his Affiliates and their respective officers, and directors and
employees from and against any and all Losses arising out of Trump Holdings’ breach of any representation, warranty, obligation, covenant or other provision of this Agreement. 
  
 8. Termination 
  
 8.1. Termination. Except as set forth in Sections 4.2 and 5.1 hereof, Trump may not terminate this Agreement except with Trump Holdings’ prior
written consent. Trump Holdings may terminate this Agreement if Trump commits a material breach of this Agreement and fails to cure such breach within thirty (30) days after receipt of written notice thereof. 
  
 8.2. Rights Upon Termination. Upon the termination of this Agreement
in accordance herewith, neither Trump Holdings nor its Subsidiaries, sublicensees, successors or assigns shall have any right to exploit or in any way use the Licensed Marks or Trump’s likeness. Within six (6) months after any such termination,
Trump Holdings shall discontinue, and shall cause its sublicensees to discontinue, all use of the Licensed Marks (and any variation or simulation thereof, and any mark or marks confusingly similar thereto) and Trump’s likeness. Notwithstanding
the foregoing, if termination shall be due to the occurrence of a Termination Event and failure of Trump Holdings to exercise the Royalty Option as provided in Section 5.1 hereof, Trump Holdings and its sublicensees shall discontinue all use of the
Licensed Marks and Trump’s likeness within sixty (60) days after termination; provided, however, that if discontinuing any specific use of the Licensed Marks requires construction or other significant structural alteration (e.g., removal of
Licensed Marks from building facing) and such alteration cannot be completed within such sixty (60)-day period, Trump Holdings and its sublicensees shall discontinue such use as soon as reasonably possible but in no event later than one hundred
twenty (120) days after termination. Trump Holdings and its sublicensees thereafter shall have no right to make any use whatsoever of the Licensed Marks and/or Trump’s likeness, including the Domain Names. 
  
 9. Survival of Certain Terms Upon Termination. Notwithstanding the
termination of this Agreement, Trump Holdings, until such time as it and its sublicensees discontinue all use of the Licensed Marks, and Trump, until such time as Trump Holdings and its sublicensees shall, pursuant to the terms hereof, be required
to discontinue all use of the Licensed Marks, shall be obligated to comply with the provisions of Sections 4.1, 4.2, 5.3, 5.4, 6 and 7.1 hereof, applicable 

  

 - 17 - 

 
to the parties, respectively. The termination of this Agreement for any reason whatsoever shall not relieve (i) Company or Trump Holdings, as applicable, of
any of its rights or obligations pursuant to Sections 3.2, 5.3, 5.4, 6.1.2, 7.4, 8, and 9 hereof; (ii) Trump of any of his rights or obligations pursuant to Sections 3.1, 7.3, and 9 hereof; and (iii) any party of its respective obligations, if any,
arising prior to the termination of this Agreement or during the time periods described in Section 8.2 hereof. For the avoidance of doubt, Trump Holdings, Company, the applicable Company Property, and their respective Subsidiaries shall continue to
be jointly and severally obligated to make royalty payments to Trump as described in Section 5.3 hereof for use of the Licensed Marks and/or Trump’s likeness after termination of the Royalty License. 
  
 10. Assignments and Sublicenses. 
  
 10.1. Assignment by Trump. Trump may not assign any of his rights or
obligations under this Agreement or in and to the Licensed Marks without the prior written consent of the Special Committee; provided, however, that nothing herein shall prohibit Trump from: (i) assigning his rights and obligations under this
Agreement or the Licensed Marks to a Permitted Transferee who agrees to be bound by the terms and conditions herein; or (ii) assigning his right to receive royalty payments under Sections 5.3 and 5.4 hereof to any third party. 
  
 10.2. Assignment and Sublicense Trump Holdings. Except as otherwise
provided in any agreement or instrument to which Trump and Trump Holdings are parties, without the prior written consent of Trump, in his sole and absolute discretion, Trump Holdings may not assign, sublicense or pledge any of its rights under this
Agreement, except: 
  
 10.2.1 Trump Holdings may,
in its sole discretion, sublicense its rights relating to the Licensed Marks under this Agreement to: (i) Company and/or any Subsidiary of Trump Holdings and (ii) Persons providing Casino Services and Products on Company Property, provided in each
case that such sublicensee agrees in writing to be bound by all of the terms and conditions of this Agreement, with said sublicense terminating if and when such sublicensee no longer qualifies for a sublicense under this Section; or 
  
 10.2.2 Trump Holdings may assign its rights under this
Agreement to a successor to all or substantially all of its business which agrees in writing to be bound by all of the terms and conditions hereof. 
  
 10.3. No permitted assignment, sublicense or pledge by Trump Holdings or Trump of any of its rights under this Agreement shall relieve or release Trump
Holdings or Trump from any of its obligations hereunder arising or accruing before or after such assignment or sublicense. 
  
 11. Miscellaneous. 
  
 11.1. Amendments; Extension; Waiver. Subject to compliance with applicable law, this Agreement may not be amended, altered or modified except by
written instrument executed by Trump and Trump Holdings. Failure of a party to enforce any one or more of the provisions of this Agreement, or to exercise any option or other right hereunder, or to require, at 

  

 - 18 - 

 
any time, performance of any of the obligations hereof, shall not be construed to be a waiver of such provisions by such party, shall not affect, in any way,
the validity of this Agreement or such party’s right thereafter to enforce each and every provision of this Agreement, and shall not preclude such party from taking any other action, at any time, which it is legally entitled to take.

  
 11.2. Entire Agreement. This Agreement (including the
Schedules and Attachments referred to herein) constitutes the entire agreement of the parties hereto, except as provided herein, and supersedes the Prior Agreement and all prior agreements and understandings, written and oral, among the parties with
respect to the subject matter hereof. 
  
 11.3. Relationship of
the Parties. This Agreement shall not be construed to constitute a joint venture between Trump and Trump Holdings, and does not constitute Trump Holdings as the agent or legal representative of Trump. Neither Trump Holdings nor Trump shall have
any right or authority to assume or create any obligation or responsibility, express or implied, on behalf of or in the name of the other, or to bind the other in any manner. 
  
 11.4. Rights Upon Default. In the event that Trump Holdings or Trump shall default in its performance of any of the
terms and provisions hereof, or shall breach or violate any of its respective covenants contained in this Agreement, the other party shall be entitled to exercise any right or remedy available to it either at law or in equity, subject to any express
limitations contained herein. Such rights and remedies shall include, but shall not be limited to, termination of this Agreement (only pursuant to Sections 4.2, 5.1 and 8.1), damages and/or injunctive relief provided, however, that neither party
shall be liable to the other party for any consequential damages resulting from a breach hereof. The exercise of any right or remedy available to Trump or Trump Holdings shall not preclude the concurrent or subsequent exercise by such party of any
other right or remedy, and all rights and remedies shall be cumulative. 
  
 11.5. Interpretation. When a reference is made in this Agreement to Sections or Schedules, such reference shall be to a Section or Schedule to this Agreement unless otherwise indicated. The headings contained in this Agreement are
for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be
followed by the words “without limitation.” 
  
 11.6.
Severability. Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or
unenforceable the remaining terms and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction. If any provision of this Agreement is so broad as to be
unenforceable, the provision shall be interpreted to be only so broad as is enforceable. 
  
 11.7. Other Rights. Nothing herein shall affect the rights and remedies provided under the Investment Agreement. 
  
 11.8. Notices. All notices and other communications hereunder shall be in writing and shall be deemed given if (a) delivered in person, (b)
transmitted by telecopy (with 

  

 - 19 - 

 
confirmation), (c) mailed by certified or registered mail (return receipt requested) or (d) delivered by an express courier (with confirmation) to the
parties at the following addresses (or at such other address for a party as shall be specified by like notice) 
  

			
	 If to Trump Holdings:
	  	c/o Trump Entertainment Resorts, Inc.
	 	  	1000 Boardwalk at Virginia
	 	  	Atlantic City, New Jersey 08401
	 	  	Telecopy: (212) 688-0397
	 	  	Attention: Chief Executive Officer
		
	 If to Trump:
	  	c/o The Trump Organization
	 	  	725 Fifth Avenue
	 	  	New York, New York 10022
	 	  	Telecopy: (212) 755-3230
	 	  	Attention:   Donald J. Trump
	 	  	 Allen Weisselberg

	 	  	 Michelle L. Lokey, Esq.

  
 11.9. Binding
Effect; Persons Benefiting. This Agreement shall inure to the benefit of and be binding upon the parties hereto and the respective successors and assigns of the parties and such persons. Nothing in this Agreement is intended or shall be
construed to confer upon any entity or person other than the parties hereto and their respective successors and permitted assigns any right, remedy or claim under or by reason of this Agreement or any part hereof. 
  
 11.10. Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same agreement, it being understood that all of the parties need not sign the same counterpart. 
  
 11.11. Governing Law. THIS AGREEMENT, THE LEGAL RELATIONS BETWEEN THE
PARTIES AND THE ADJUDICATION AND THE ENFORCEMENT THEREOF, SHALL BE GOVERNED BY AND INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO APPLICABLE CONFLICT OF LAW, EXCEPT THAT ANY QUESTIONS
GOVERNED BY THE TRADEMARK STATUTES OF THE UNITED STATES OF AMERICA SHALL BE GOVERNED BY AND DETERMINED PURSUANT TO AND/OR UNDER SUCH STATUTES. 
  
 11.12. Convenience of Forum; Consent to Jurisdiction. The parties to this Agreement, acting for themselves and for their respective successors and
assigns, without regard to domicile, citizenship or residence, hereby expressly and irrevocably elect as the sole judicial forum for the adjudication of any matters arising under or in connection with this Agreement, and consent and subject
themselves to the jurisdiction of, the courts of the State of New York and federal court located in New York, in respect of any matter arising under this Agreement. 

  

 - 20 - 

 
Service of process, notices and demands of such courts may be made upon any party to this Agreement by personal service at any place where it may be found or
giving notice to such party as provided in Section 11.7 hereof. 
  
 11.13. Injunctive Relief. Trump Holdings acknowledges that Trump would be irreparably harmed and there would be no adequate remedy at law for Trump Holdings’ violation of any covenants or agreements contained in this Agreement.
Trump Holdings accordingly agrees that, in addition to any other remedies available to Trump upon Trump Holdings’ breach of such covenants and agreements under this Agreement, Trump shall have the right to obtain injunctive relief to restrain
any breach or threatened breach of such covenants or agreements or otherwise to obtain specific performance of any such covenants or agreement. 
  
 [remainder of page intentionally left blank] 
  

 - 21 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Amended and Restated Trademark License Agreement
to be executed as of the date first above written. 
  

			
	/s/    DONALD J.
TRUMP        
	 Name:
	 	Donald J. Trump

  

			
	TRUMP ENTERTAINMENT RESORTS HOLDINGS, L.P.
		
	By:	 	 Trump Entertainment Resorts, Inc.
 its general
partner

		
	By:	 	/s/    JOHN P. BURKE         
	 Name:
	 	John P. Burke
	 Title:
	 	Executive Vice President and Treasurer

  

 Trump Entertainment Resorts, Inc., Trump Taj Majal Associates, LLC, Trump Plaza Associates, LLC, Trump
Marina Associates, LLC, and Trump Indiana, Inc. are signatories hereof pursuant to the terms and conditions of Section 10.2.1 of this Agreement and Trump Holdings is hereby sublicensing to each of the aforementioned Subsidiaries its rights relating
to those Licensed Marks used by such Subsidiary in its operations. Each such Subsidiary agrees to be bound by all of the terms and conditions of this Agreement as set forth in Section 10.2.1 hereof. 
  

			
	 TRUMP ENTERTAINMENT RESORTS, INC.
 [FOR PURPOSES OF SECTIONS 5.3, 5.4, 9, 10.2.1 AND 11]

		
	By:	 	/s/    JOHN P. BURKE         
	 Name:
	 	John P. Burke
	 Title:
	 	Executive Vice President and Treasurer

  

			
	 TRUMP TAJ MAHAL ASSOCIATES, LLC
 [FOR PURPOSES OF SECTIONS 5.3, 5.4, 9, 10.2.1 AND 11]

		
	By:	 	 Trump Entertainment Resorts Holdings, L.P.
 its sole
member

		
	 By:
	 	 Trump Entertainment Resorts, Inc.
 its general
partner

  

			
	By:	 	/s/    JOHN P. BURKE         
	 Name:
	 	John P. Burke
	 Title:
	 	Executive Vice President and Treasurer

  

			
	 TRUMP PLAZA ASSOCIATES, LLC
 [FOR PURPOSES OF SECTIONS 5.3, 5.4, 9, 10.2.1 AND 11]

		
	By:	 	 Trump Entertainment Resorts Holdings, L.P.
 its sole
member

		
	 By:
	 	 Trump Entertainment Resorts, Inc.
 its general
partner

  

			
	By:	 	/s/    JOHN P. BURKE         
	 Name:
	 	John P. Burke
	 Title:
	 	Executive Vice President and Treasurer

  

			
	 TRUMP MARINA ASSOCIATES, LLC
 [FOR PURPOSES OF SECTIONS 5.3, 5.4, 9, 10.2.1 AND 11]

		
	By:	 	 Trump Entertainment Resorts Holdings, L.P.
 its sole
member

		
	 By:
	 	 Trump Entertainment Resorts, Inc.
 its general
partner

  

			
	By:	 	/s/    JOHN P. BURKE         
	 Name:
	 	John P. Burke
	 Title:
	 	Executive Vice President and Treasurer

  

			
	 TRUMP INDIANA, INC.
 [FOR
PURPOSES OF SECTIONS 5.3, 5.4, 9, 10.2.1 AND 11]

		
	By:	 	/s/    JOHN P. BURKE         
	 Name:
	 	John P. Burke
	 Title:
	 	Executive Vice President and Treasurer

  

 Schedule A 
  

LICENSED MARKS 
  
 U.S. Registrations 
  

							
	 Mark

	  	Reg. Date

	  	Reg. No.

	  	 Goods/Services

	TRUMP PLAZA	  	10/30/90	  	1,620,477	  	Casino services; hotel, bar and restaurant services
	TRUMP TAJ MAHAL CASINO-RESORT	  	3/8/94	  	1,825,666	  	See Attachment A hereto
	TRUMP TAJ MAHAL CASINO RESORT	  	3/2/93	  	1,755,971	  	Casino services; hotel services
	TRUMP TAJ MAHAL CASINO RESORT AND DESIGN	  	1/26/93	  	1,749,119	  	Casino services; hotel services
	TRUMP CASTLE	  	10/3/89	  	1,559,355	  	Hotel services
	TRUMP CASTLE	  	9/19/89	  	1,557,303	  	Entertainment services, namely providing casino services
	TRUMP CARD	  	12/19/00	  	2,414,739	  	Customer recognition program in the nature of an incentive card for use in hotel, casino and resort facilities
	TRUMP MARINA and Design	  	4/3/01	  	2,441,215	  	Casino services; hotel services
	TRUMP CASINO and Design	  	11/4/97	  	2,110,542	  	Casino services
	TRUMP WORLD’S FAIR	  	6/30/98	  	2,168,809	  	Casino services
	TRUMP 29	  	10/5/04	  	2,890,910	  	Casino services
	TRUMP MARINA HOTEL CASINO and Design	  	10/12/04	  	2,892,467	  	Casino services; hotel services

  
 Foreign Registrations 
  

							
	 Mark

	  	Reg. Date

	  	Reg. No.

	  	 Goods/Services

	TRUMP (UK)	  	7/26/02	  	2293320	  	See Attachment B hereto

  

 Attachment A 
  
 Goods/Services for Registration No. 1,825,666: (Int. Cl. 8) Spoons; (Int. Cl. 9) Sunglasses, Signal Bells, and Magnets; (Int. Cl. 14)
Jewelry; (Int. Cl. 16) Adhesive Backed. Note Paper Pads, Playing Cards, Posters, Pencils, Ball Point Pens, and Stationery; (Int. Cl. 18) Umbrellas, Luggage, Hip Packs, Tote Bags and Carry-on Bags; (Int. Cl. 20) Non-Metallic Money Clips, Plastic Key
Chains, and Ornamental Novelty Pins; (Int. Cl. 21) Mugs, Beer Steins, and Glasses for Drinking Liquor; (Int. Cl. 24) Towels; (Int. Cl. 25) Clothing; namely, T-Shirts, Jackets, Sweatshirts, Sweatpants, Sweaters, Hats, Visors, Socks, Boxer Shorts,
Robes, Shorts, Golf Shirts, Night Shirts, and Beach Cover-ups; (Int. C1. 28) Plush Toys, Board, Card and Parlor Games, Dice, and Gaming Equipment; namely, Gaming Wheels; (Int. Cl. 34) Ash Trays and Cigarette Lighters. 
  

 Attachment B 
  
 Goods/Services for UK Registration No. 2293320: (Int. Cl. 41) Gambling and casino services and the provision of casino facilities; other
entertainment services including the organization and presentation of theatrical, musical, cultural and recreational events; (Int. Cl. 43) hotels and accommodation services; hotel and accommodation reservations; restaurants, coffee shops, bistros
and bars; catering, function and conference services and the provision of function and conference facilities. 
  

 Schedule B 
  

AIRPORT PRODUCTS 
  
 Apparel 
  

			
	Tee shirts	 	Bathing Suits
	Sweatshirts	 	Sweat Pants
	Sweat Suits	 	Shorts
	Jackets (Seasonal)	 	Hats
	Wind Shirts	 	Night Shirts
	Robes	 	Socks
	Sun Dresses	 	Denim Shirts
	Cover ups	 	 
	2 piece women’s/children’s casual and active wear sets (not golf apparel)

  
 Sundries 
  
 Shampoo 
 Conditioner 
 Bath Gel 
 Hand and body lotion of the
type sold at health clubs/spas and sundry stores 
 Cigarette/Cigar lighters 
 Cigars 
  
 Giftware 
  

					
	Glassware	 	Golf Balls	 	Bottled Water
	Shot/Wine Glasses	 	Beach Towels	 	Shopping Bag
	Rock Glasses	 	Sunglasses	 	Jewelry
	Coffee	 	Lanyards	 	Watches
	Beer Stein	 	Slippers	 	Desk Accessories
	Plates	 	Blankets	 	Paper Weights
	Travel Mugs	 	Candy / Snacks	 	Picture Frames
	Clocks	 	Luggage Tags	 	Umbrellas
	Ornaments (seasonal)	 	Water Bottles	 	Casino Games
	Magnets	 	Sports Bottles	 	Video Games
	Spoons	 	Leather Accessories	 	Pictures
	Plush Stuffed Animals	 	Huggies (Beverage cooler)	 	Snow Globes
	Tote Bags	 	Pens	 	Chachkes
	Luggage	 	Post Cards	 	 
	Key Chains	 	Stationery

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00085-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00085-of-00352.parquet"}]]