Document:

Form of Amendment to Stock Option Agreements For Directors

 Exhibit 10.2 
 FORM OF AMENDMENT TO STOCK OPTION AGREEMENTS FOR DIRECTORS 
 This Amendment
is made as of _________ , 20 _____ by and between Pinnacle Entertainment, Inc., a Delaware corporation (the “Company”), and _____________ (“Director”), with reference to the following facts: 

A. The Company has granted stock options to Director under one or more stock option agreements to compensate the Director for his or
her service on the Company’s Board of Directors. 
 B. The Company has determined that it is in its best interests to
ensure that, in the event that Director ceases to be a member of the Company’s Board of Directors, he or she will have an adequate opportunity to exercise his or her stock options, subject to the terms, conditions and restrictions set forth
herein. 
 C. The Company and Director hereby desire to amend each stock option agreement between the Company and the Director
which is currently in force. Capitalized terms not otherwise defined herein have the meaning ascribed to them in each stock option agreement and if not defined therein, the meanings ascribed to them in the Company’s 2005 Equity and Performance
Incentive Plan. 
 NOW, THEREFORE, the Company and Director hereby agree as follows: 

 

	 	1.	Each stock option agreement between the Company and the Director which is currently in force is hereby amended to provide the following: 

 

	 	A.	Exercise Period of Stock Options. 

  

	 	(i)	Termination for any reason (other than for Cause). In the event that Director ceases for any reason, including death or Disability, (other than for Cause) to be
a member of the Company’s Board of Directors, Director may exercise each of his or her vested stock options until the earlier of: 

  

	 	a.	the expiration of the Term; or 

  

	 	b.	(1) one year after the Director ceases to be a member of the Company’s Board of Directors, if the Director has served on the Company’s Board of Directors for
less than five years; or (2) two years after the Director ceases to be a member of the Company’s Board of Directors, if the Director has served on the Company’s Board of Directors for at least five years, but less than ten years; or
(3) three years after the Director ceases to be a member of the Company’s Board of Directors, if the Director has served on the Company’s Board of Directors for at least ten years. 

 

	 	(ii)	Removal for Circumstance involving Cause. If the Company’s Board of Directors after due deliberation removes Director for circumstances involving Cause, or
if, after Director is removed as a member of the Company’s Board of Directors, the Board of Directors within twelve (12) months determines that Cause existed before such removal as a director, each of the stock options shall be cancelled
and terminated as of the date of such removal as a director and shall no longer be exercisable as to any Shares, whether or not previously vested, that have not been exercised in the interim. 

 

	 	B.	Non-Disparagement, Cooperation and Non-Competition. 

  

	 	(a)	 Director agrees that from and after the date Director ceased to be a member of the Company’s Board of Directors, he or she will not disparage (or
induce or encourage others to disparage) the Company, any of its affiliates or any of its or their officers, directors, executives, employees or stockholders. As used herein, the term “disparage,” includes, without limitation, comments or
statement to the press, any of the Company’s or its affiliates’ officers, directors, executives, employees or stockholders or any person with whom the Company or any of its affiliates has a business relationship which is designed to or
would reasonably be expected to adversely affect in 

	 	
any manner, the conduct of any of the Company’s or any of its affiliates’ business or the business or personal reputations of the Company, its affiliates or any of the Company’s or
its affiliates’ officers, directors, executives, employees or stockholders; 

  

	 	(b)	The Company shall not permit the Designated Company Executives to disparage (or induce or encourage others to disparage) Director. As used herein, the term
“disparage,” includes, without limitation, comments or statement to the press, any of the Company’s or its affiliates’ officers, directors, executives, employees, or stockholders or any person known to the Company to have a
business relationship with Director which is designed to or would reasonably be expected to adversely affect in any manner the conduct of Director’s business or the personal reputation of Director. “Designated Company Executives”
includes each of the Chief Executive Officer, Chief Financial Officer, General Counsel and any executive and senior vice president of the Company; 

  

	 	(c)	Director also agrees to cooperate with the Company and its attorneys in any current or future litigation or claims involving the Company or any of its operating
subsidiaries in which Director might be a witness or have material information including, but not limited to, any and all meetings, depositions, arbitrations, mediations, trials, etc. Director shall be entitled to indemnification and
advancement of expenses (including attorney fees) by the Company as provided in Article VIII of the Company’s Bylaws; and 

  

	 	(d)	During the period of time that such Director is permitted to exercise his or her options pursuant to Section 1A above, Director shall not, directly or indirectly,
work for or provide services to any person, firm or entity engaged (directly or indirectly or through an investment in another entity) in the casino, gaming, card club or horseracing business which competes against the Company in any
“market” in which the Company owns (in whole or in part, directly or through an investment in another entity) or operates a casino, card club or horseracing facility, except as otherwise approved by the Board of Directors. For purposes of
this Amendment, “market” shall be defined as the area within a 100 mile radius of any casino, card club or horseracing facility owned (in whole or in part, directly or through an investment in another entity) or operated or under
construction by the Company whether in the United States or internationally, including in Asia, within twelve (12) months of the date that Director ceases being a member of the Board of Directors. For the avoidance of doubt, this
Section 1(d) shall not prohibit a Director from providing legal services or accounting or auditing services to any casino, gaming, card club or horseracing business. 

 

	 	C.	Violation of Section 1B; Remedies. After Director ceases being a member of the Board of Directors and in the event that the Board of Directors, in their
discretion after due deliberation, determines that the Director has violated the terms, conditions and restrictions set forth in Section 1B above, the options covered by each stock option agreement may be cancelled and terminated and if the
Board of Directors takes such action in cancellation and termination of the options, the options shall no longer be exercisable as to any Shares, whether or not previously vested, that have not been exercised in the interim. Nothing in this
Section 1 is intended to prevent or limit the Director from complying with all laws, rules, regulations, examinations, investigations or inquiries of any governmental or regulatory body, or participating in any legal, court, or administrative
proceeding or process, or exercising any of his or her legal rights and remedies outside of the rights and remedies related to the Director as addressed herein. 

 

	 	2.	In all other respects, the terms and provisions of each stock option agreement between the Company and Director are hereby ratified and declared to continue in full
force and effect. This Amendment, including each stock option agreement to which this Amendment relates, constitute the complete and entire agreement and understanding of the parties with respect to the subject matter hereof, and supersedes in its
entirety any and all prior understandings, commitments, obligations and/or agreements (including any amendments entered into between the Company and the Director related to stock option agreement(s) entered into prior to the date of this Amendment),
whether written or oral, with respect thereto. 

 IN WITNESS WHEREOF, this Amendment has been executed by the Company and Director as of the
date first above written. 
  

			
	PINNACLE ENTERTAINMENT, INC.
		
	 By:
	 	 
		
		 	DIRECTORFirst Supplemental Indenture

 Exhibit 10.5 
 FIRST SUPPLEMENTAL INDENTURE 
 FIRST SUPPLEMENTAL
INDENTURE (this “Supplemental Indenture”), dated as of July 19, 2012, among President Riverboat Casino-Missouri, Inc. (the “Guarantying Subsidiary”), a Missouri corporation and a subsidiary of
Pinnacle Entertainment, Inc. (or its permitted successor), a Delaware corporation (the “Company”), the Company, the other Guarantors (as defined in the Indenture referred to herein) and The Bank of New York Mellon Trust Company,
N.A., as trustee under the Indenture referred to below (the “Trustee”). 
 W I T N E S S E T H 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of
March 19, 2012 providing for the issuance of 7.75% Senior Subordinated Notes due 2022 (the “Notes”); 

WHEREAS, the Indenture provides that under certain circumstances the Guarantying Subsidiary shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guarantying Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the
“Guaranty”); 
 WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute
and deliver this Supplemental Indenture; and 
 WHEREAS, all acts and requirements necessary to make this Supplemental Indenture
the legal, valid and binding obligation of the Guarantying Subsidiary and the Company have been done. 
 NOW, THEREFORE, in
consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guarantying Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the
Notes as follows: 
 1. CAPITALIZED TERMS. Capitalized terms used herein without definition shall
have the meanings assigned to them in the Indenture. 
 2. AGREEMENT TO GUARANTY.
The Guarantying Subsidiary hereby agrees to provide an unconditional Guaranty on the terms and subject to the conditions set forth in the Guaranty and in the Indenture including but not limited to Article 11 thereof. 

3. NO RECOURSE AGAINST OTHERS. No past, present or future director, officer,
employee, incorporator, stockholder or agent of the Guarantying Subsidiary, as such, shall have any liability for any obligations of the Company or any Guarantying Subsidiary under the Notes, any Guaranties, the Indenture or this Supplemental
Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for
issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against public policy. 

4. NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE

 
WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

5. COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. 
 6. EFFECT OF
HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof. 

7. THE TRUSTEE. The Trustee shall not be responsible in any manner whatsoever for or in respect of the
validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guarantying Subsidiary and the Company. 

 IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be
duly executed all as of the date first above written. 
 Dated: July 19, 2012 

 

							
	President Riverboat Casino-Missouri, Inc.
		
	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Chief Financial Officer and Treasurer
	
	PINNACLE ENTERTAINMENT, INC.
		
	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	 Executive Vice President and Chief
 Financial Officer

	
	ACE GAMING, LLC
		
	By:	 	PNK Development 13, LLC
	Its:	 	Sole Member
			
		 	By:	 	Biloxi Casino Corp.
		 	Its:	 	Sole Member
				
		 		 	By:	 	 /s/ Carlos A. Ruisanchez

		 		 	Name:	 	Carlos A. Ruisanchez
		 		 	Title:	 	Chief Financial Officer and Treasurer
	
	AREH MLK LLC
		
	By:	 	Biloxi Casino Corp.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Chief Financial Officer and Treasurer

					
	AREP BOARDWALK PROPERTIES LLC
		
	By:	 	Biloxi Casino Corp.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Chief Financial Officer and Treasurer
	
	BELTERRA RESORT INDIANA, LLC
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	BILOXI CASINO CORP.
		
	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Chief Financial Officer and Treasurer
	
	BOOMTOWN, LLC
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	CASINO MAGIC CORP.
		
	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Chief Financial Officer and Treasurer

							
	CASINO ONE CORPORATION
		
	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Treasurer
	
	LOUISIANA – I GAMING, A LOUISIANA PARTNERSHIP IN COMMENDAM
		
	By:	 	Boomtown, LLC
	Its:	 	General Partner
			
		 	By:	 	Pinnacle Entertainment, Inc.
		 	Its:	 	Sole Member
				
		 		 	By:	 	 /s/ Carlos A. Ruisanchez

		 		 	Name:	 	Carlos A. Ruisanchez
		 		 	Title:	 	Executive Vice President and
		 		 		 	Chief Financial Officer
	
	MITRE ASSOCIATES LLC
		
	By:	 	PNK Development 13, LLC
	Its:	 	Sole Member
			
		 	By:	 	Biloxi Casino Corp.
		 	Its:	 	Sole Member
				
		 		 	By:	 	 /s/ Carlos A. Ruisanchez

		 		 	Name:	 	Carlos A. Ruisanchez
		 		 	Title:	 	Chief Financial Officer and Treasurer
	
	OGLE HAUS, LLC
		
	By:	 	Belterra Resort Indiana, LLC
	Its:	 	Sole Member
			
		 	By:	 	Pinnacle Entertainment, Inc.
		 	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer

							
	PNK (BATON ROUGE) PARTNERSHIP
		
	By:	 	PNK Development 8, LLC
	Its:	 	Managing Partner
			
		 	By:	 	Pinnacle Entertainment, Inc.
		 	Its:	 	Sole Member
				
		 		 	By:	 	 /s/ Carlos A. Ruisanchez

		 		 	Name:	 	Carlos A. Ruisanchez
		 		 	Title:	 	Executive Vice President and
		 		 		 	Chief Financial Officer
	
	PNK (BOSSIER CITY), INC.
		
	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Treasurer
	
	PNK DEVELOPMENT 7, LLC
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	PNK DEVELOPMENT 8, LLC
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer

					
	PNK DEVELOPMENT 9, LLC
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	PNK DEVELOPMENT 13, LLC
		
	By:	 	Biloxi Casino Corp.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Chief Financial Officer and Treasurer
	
	PNK (ES), LLC
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	PNK (LAKE CHARLES), L.L.C.
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member/Manager
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer

							
	PNK (OHIO), LLC
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	PNK (OHIO) II, LLC
		
	By:	 	PNK (OHIO) LLC
	Its:	 	Sole Member
			
		 	By:	 	Pinnacle Entertainment, Inc.
		 	Its:	 	Sole Member
				
		 		 	By:	 	 /s/ Carlos A. Ruisanchez

		 		 	Name:	 	Carlos A. Ruisanchez
		 		 	Title:	 	Executive Vice President and
		 		 		 	Chief Financial Officer
	
	PNK (OHIO) III, LLC
		
	By:	 	PNK (OHIO) LLC
	Its:	 	Sole Member
			
		 	By:	 	Pinnacle Entertainment, Inc.
		 	Its:	 	Sole Member
				
		 		 	By:	 	 /s/ Carlos A. Ruisanchez

		 		 	Name:	 	Carlos A. Ruisanchez
		 		 	Title:	 	Executive Vice President and
		 		 		 	Chief Financial Officer

							
	PNK (RENO), LLC
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	PNK (RIVER CITY), LLC
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	PNK (SCB), L.L.C.
		
	By:	 	PNK Development 7, LLC
	Its:	 	Sole Member
			
		 	By:	 	Pinnacle Entertainment, Inc.
		 	Its:	 	Sole Member
				
		 		 	By:	 	 /s/ Carlos A. Ruisanchez

		 		 	Name:	 	Carlos A. Ruisanchez
		 		 	Title:	 	Executive Vice President and
		 		 		 	Chief Financial Officer
	
	PNK (ST. LOUIS RE), LLC
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer

					
	PNK (STLH), LLC
		
	By:	 	Pinnacle Entertainment, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
	
	PSW PROPERTIES LLC
		
	By:	 	Biloxi Casino Corp.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Carlos A. Ruisanchez

		 	Name:	 	Carlos A. Ruisanchez
		 	Title:	 	Chief Financial Officer and Treasurer
	
	YANKTON INVESTMENTS, LLC
		
	By:	 	 /s/ John A. Godfrey

	Name:	 	John A. Godfrey
	Title:	 	Manager

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as Trustee
		
	By:	 	 /s/ Teresa Petta

	Name:	 	Teresa Petta
	Title:	 	Vice President

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