Document:

Exhibit 10.3

AMENDMENT NO. 1 TO

AMENDED
AND RESTATED EMPLOYMENT AGREEMENT

This Amendment No. 1 to Amended and Restated
Employment Agreement (this “Amendment”)
is made and entered into on September 14, 2006 and effective as of June 22,
2006, by and between Seneca Gaming Corporation, a governmental instrumentality
of the Seneca Nation of Indians of New York (the “Parent”)
and Joseph D’Amato (“Executive”).  Capitalized terms not defined herein shall
have the meanings ascribed to such terms in the Amended and Restated Employment
Agreement made and entered into as of July 13, 2004, by and between the Parent
and Executive (the “Agreement”).

WHEREAS, the Board
of Directors for the Parent has adopted resolutions expressing its desire to
amend Executive’s Agreement (a) to retain Executive as its Chief Operating
Officer, (b) to extend the term of the Agreement until September 30, 2009, (c)
to increase the Executive’s Base Compensation for the fiscal year ending
September 30, 2007 and to provide for a minimum amount with respect to the
Executive’s Base Compensation for the fiscal years ending September 30, 2008
and September 30, 2009, it being understood that the Parent and Executive will
negotiate in good faith the Executive’s Base Compensation for each of the
fiscal years ending in 2008 and 2009 prior to the end of the immediately
preceding fiscal year and that Executive’s Base Compensation for such fiscal
years may exceed (but will not be less than) the minimum amount provided below,
and (d) to make certain additional amendments.

NOW,
THEREFORE, in consideration of the
above premises and other good and valuable consideration, receipt of which is
hereby acknowledged, the Parent and Executive agree as follows:

1.             All applicable Sections of the
Agreement are hereby amended to reflect Executive’s new title of “Chief
Operating Officer.”

2.     Sections
1, 2 and 3 of the Agreement are hereby amended in their entirety to read as
follows:

“1.           Employment.  Employer hereby employs Executive as its
Chief Operating Officer.  Executive shall
report and be accountable to and work under the authority of the President and
Chief Executive Officer and the Board of Directors of Parent (the “Board”).  Executive shall perform such duties and have
such responsibilities that are customary for such position and including those
that may be specified from time to time by the President and Chief Executive
Officer and/or the Board that are not inconsistent with such position.

2.             Term.  The term of this Agreement shall commence as
of June 22, 2006 (the “Effective Date” or “Commencement Date”) and terminate on
September 30, 2009 (the “Termination Date”), unless renewed by a subsequent
written agreement of the parties.

 

3.             Compensation.

(a)                                  Executive
shall be paid an annual base salary (“Base Compensation”) of (i) Eight
Hundred and Twenty Five Thousand Dollars ($825,000) for the period commencing
on the Effective Date and ending with Employer’s fiscal year ending September
30, 2006; (ii) Eight Hundred and Twenty Five Thousand Dollars ($825,000)
for Employer’s fiscal year ending September 30, 2007; (iii) a minimum of
Eight Hundred and Twenty Five Thousand Dollars ($825,000) for Employer’s fiscal
year ending September 30, 2008, such minimum amount subject to increase
based upon negotiations which Parent and Executive hereby agree to enter into
and complete in good faith prior to September 30, 2007; and (iv) a minimum
of Eight Hundred and Twenty Five Thousand Dollars ($825,000) for Employer’s
fiscal year ending September 30, 2009, such minimum amount subject to increase
based upon negotiations which Parent and Executive hereby agree to enter into
and complete in good faith prior to September 30, 2008 with respect to his
service for the Employer, with a salary review by the Board each fiscal year
thereafter at which time the Board shall determine whether, in its sole
discretion, Executive’s Base Compensation shall be increased.  Such salary shall be payable periodically in
accordance with the Employer’s regular payroll practice.

(b)                                 For the fiscal year
ending September 30, 2006, Executive shall be eligible for seventy-three
percent (73%) of the annual performance bonus set forth in Section 3(b)(iii) of
Executive’s Amended and Restated Employment Agreement, if the performance
target is met.

The annual performance bonus described above
shall be referred to as “Bonus Compensation” for such fiscal year.

(c)                                  Executive shall also
be eligible to receive any additional performance or incentive compensation
which is approved by the Board in its sole discretion.  Said additional performance or incentive
compensation, if any, shall be in addition to and shall not lessen or reduce
the Base Compensation or Bonus Compensation.

(d)                                 Executive shall be
provided with coverage under the Employer’s employee benefit insurance programs
and retirement programs, if any, at least equal to the coverage provided to
other senior executive officers of the Employer.

(e)                                  Should Executive
become unable to perform the duties required under this Agreement as a result
of temporary, documented medical disability, he shall be eligible to continue
to receive Base Compensation for a period of up to one hundred and eighty (180)
days.

 2
 

 

(f)                                    Compensation, if
any, due under paragraphs 3(b) or 3(c) of this Agreement shall be payable
within ninety (90) days after the close of the fiscal year with respect to
which it is earned.”

3.                                       Section
6(a) of the Agreement is hereby amended to read as follows:

“Executive acknowledges
that:  (i) as a result of Executive’s
employment  with the Employer, he will
obtain secret, proprietary and confidential information concerning the business
of the Employer, including, without limitation, business and marketing plans,
strategies, employee lists, patron lists, operating procedures, business
relationships (including persons, corporations or other entities performing
services on behalf of or otherwise engaged in business transactions with the
Employer), accounts, financial data, know-how, computer software and related
documentation, trade secrets, processes, policies and/or personnel, and other
information relating to the Employer (“Confidential Information”); (ii) the
Confidential Information has been developed and created by the Employer at
substantial expense and the Confidential Information constitutes valuable
proprietary assets and the Employer will suffer substantial damage and
irreparable harm which will be difficult to compute if, during the term of the
Agreement and during the Restricted Period, Executive should enter a
Competitive Business (as defined herein) in violation of the provisions of this
Agreement; (iii) the Employer will suffer substantial damage which will be
difficult to compute if, during the term of the Agreement or thereafter,
Executive should solicit or interfere with the Employer’s employees or patrons
or should divulge Confidential Information relating to the business of the
Employer; (iv) the provisions of this section 6 are reasonable and necessary
for the protection of the business of the Employer; (v) the Employer would not
have hired or employed Executive unless he signed this Agreement; and (vi) the
provisions of this Agreement will not preclude Executive from other gainful
employment.  “Competitive Business” shall
mean any gaming establishment which provides to its patrons games of chance
such as slot machines, card games, roulette, and similar games in the State of
New York or within the 100 mile radius of Nation Territory.”

4.                                       Section
6(e) of the Agreement is hereby amended to read as follows:

“By executing this Agreement, Executive acknowledges
that he understands that the Employer’s ability to operate its business depends
upon its ability to attract and retain patrons. 
Therefore, during the Restricted Period, Executive shall not, directly
or indirectly, solicit, contact, interfere with, or endeavor to entice away
from the Employer any of its current or potential patrons or any such persons
or entities that were patrons of the Employer within the one year period
immediately prior to Executive’s termination of employment.”

5.             Effect
on the Agreement.  Except as
specifically amended or waived by this Amendment, all terms and conditions of
the Agreement shall remain in full force and effect.  

 3
 

 

From and after the Effective
Date hereof, all references to the “Agreement” shall mean such Agreement (as
defined herein) as amended hereby.

6.             Counterparts.  This Amendment may be executed in
counterparts each of which shall be deemed to be an original but all of which
shall constitute one and the same agreement.

[Signature Page
Follows]

 4
 

 

IN WITNESS WHEREOF, each
of the parties have caused this Amendment to be executed on its behalf by its
officers thereunto duly authorized as of the day and year first written above.

	
  

  	
   

  	
  SENECA GAMING CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ John Pasqualoni

  
	
   

  	
   

  	
  Name:

  	
   

  	
  John Pasqualoni

  
	
   

  	
   

  	
  Title:

  	
   

  	
  President and CEO

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EXECUTIVE

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Joseph A. D’Amato

  
	
   

  	
   

  	
  Name:

  	
   

  	
  Joseph A. D’Amato

  

 

 5Exhibit
10.4

AMENDMENT NO. 1 TO

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

This Amendment No. 1 to Amended and Restated
Employment Agreement (this “Amendment”)
is made and entered into on September 14, 2006 and effective as of June 22,
2006, by and between Seneca Gaming Corporation, a governmental instrumentality
of the Seneca Nation of Indians of New York (the “Parent”)
and Michael Speller (“Executive”).  Capitalized terms not defined herein shall
have the meanings ascribed to such terms in the Amended and Restated Employment
Agreement made and entered into as of July 13, 2004, by and between the Parent
and Executive (the “Agreement”).

WHEREAS, the Board of
Directors for the Parent has adopted resolutions expressing its desire to amend
Executive’s Agreement (a) to retain Executive as its Senior Vice President of
Gaming Operations, (b) to extend the term of the Agreement until September 30,
2009, (c) to increase the Executive’s Base Compensation for the fiscal year
ending September 30, 2007 and to provide for a minimum amount with respect to
the Executive’s Base Compensation for the fiscal years ending September 30,
2008 and September 30, 2009, it being understood that the Parent and Executive
will negotiate in good faith the Executive’s Base Compensation for each of the
fiscal years ending in 2008 and 2009 prior to the end of the immediately
preceding fiscal year and that Executive’s Base Compensation for such fiscal
years may exceed (but will not be less than) the minimum amount provided below,
and (d) to make certain additional amendments.

NOW, THEREFORE, in
consideration of the above premises and other good and valuable consideration,
receipt of which is hereby acknowledged, the Parent and Executive agree as
follows:

1.             All applicable
Sections of the Agreement are hereby amended to reflect Executive’s new title
of “Senior Vice President of Gaming Operations.”

2.             Sections 1, 2 and 3
of the Agreement are hereby amended in their entirety to read as follows:

“1.           Employment.  Employer hereby employs Executive as its
Senior Vice President of Gaming Operations. 
Executive shall report and be accountable to and work under the
authority of the President and Chief Executive Officer and the Board of
Directors of Parent (the “Board”). 
Executive shall perform such duties and have such responsibilities that
are customary for such position and including those that may be specified from
time to time by the President and Chief Executive Officer and/or the Board that
are not inconsistent with such position.

2.             Term.  The term of this Agreement shall commence as
of June 22, 2006 (the “Effective Date”) and terminate on September 30, 2009
(the “Termination Date”), unless renewed by a subsequent written agreement of
the parties.

 

3.             Compensation.

(a)                                  Executive shall be
paid an annual base salary (“Base Compensation”) of (i) Six Hundred
Thousand Dollars ($600,000) for the period commencing on the Effective Date and
ending with Employer’s fiscal year ending September 30, 2006; (ii) Six
Hundred Thousand Dollars ($600,000) for Employer’s fiscal year ending September
30, 2007; (iii) a minimum of Six Hundred Thousand Dollars ($600,000) for
Employer’s fiscal year ending September 30, 2008, such minimum amount
subject to increase based upon negotiations which Parent and Executive hereby
agree to enter into and complete in good faith prior to September 30, 2007; and
(iv) a minimum of Six Hundred Thousand Dollars ($600,000) for Employer’s
fiscal year ending September 30, 2009, such minimum amount subject to
increase based upon negotiations which Parent and Executive hereby agree to
enter into and complete in good faith prior to September 30, 2008 with respect
to his service for the Employer, with a salary review by the Board each fiscal
year thereafter at which time the Board shall determine whether, in its sole
discretion, Executive’s Base Compensation shall be increased.  Such salary shall be payable periodically in
accordance with the Employer’s regular payroll practice.

(b)                                 For
the fiscal year ending September 30, 2006, Executive shall be eligible for
seventy-three percent (73%) of the annual performance bonus set forth in
Section 3(b)(iii) of Executive’s Amended and Restated Employment Agreement, if
the performance target is met.

The annual performance bonus described above shall be referred to as “Bonus
Compensation” for such fiscal year.

(c)                                  Executive
shall also be eligible to receive any additional performance or incentive
compensation which is approved by the Board in its sole discretion.  Said additional performance or incentive
compensation, if any, shall be in addition to and shall not lessen or reduce
the Base Compensation or Bonus Compensation.

(d)                                 Executive
shall be provided with coverage under the Employer’s employee benefit insurance
programs and retirement programs, if any, at least equal to the coverage
provided to other senior executive officers of the Employer.

(e)                                  Should
Executive become unable to perform the duties required under this Agreement as
a result of temporary, documented medical disability, he shall be eligible to
continue to receive Base Compensation for a period of up to one hundred and
eighty (180) days.

 2
 

 

(f)                                    Compensation,
if any, due under paragraphs 3(b) or 3(c) of this Agreement shall be payable
within ninety (90) days after the close of the fiscal year with respect to
which it is earned.”

3.             Section 6(a) of the
Agreement is hereby amended to read as follows:

“Executive acknowledges that:  (i) as a result of Executive’s
employment  with the Employer, he will
obtain secret, proprietary and confidential information concerning the business
of the Employer, including, without limitation, business and marketing plans,
strategies, employee lists, patron lists, operating procedures, business
relationships (including persons, corporations or other entities performing
services on behalf of or otherwise engaged in business transactions with the
Employer), accounts, financial data, know-how, computer software and related
documentation, trade secrets, processes, policies and/or personnel, and other
information relating to the Employer (“Confidential Information”); (ii) the
Confidential Information has been developed and created by the Employer at
substantial expense and the Confidential Information constitutes valuable
proprietary assets and the Employer will suffer substantial damage and
irreparable harm which will be difficult to compute if, during the term of the
Agreement and during the Restricted Period, Executive should enter a
Competitive Business (as defined herein) in violation of the provisions of this
Agreement; (iii) the Employer will suffer substantial damage which will be
difficult to compute if, during the term of the Agreement or thereafter,
Executive should solicit or interfere with the Employer’s employees or patrons
or should divulge Confidential Information relating to the business of the
Employer; (iv) the provisions of this section 6 are reasonable and necessary
for the protection of the business of the Employer; (v) the Employer would not
have hired or employed Executive unless he signed this Agreement; and (vi) the
provisions of this Agreement will not preclude Executive from other gainful
employment.  “Competitive Business” shall
mean any gaming establishment which provides to its patrons games of chance
such as slot machines, card games, roulette, and similar games in the State of
New York or within the 100 mile radius of Nation Territory.”

4.                                       Section
6(e) of the Agreement is hereby amended to read as follows:

“By executing this Agreement, Executive acknowledges
that he understands that the Employer’s ability to operate its business depends
upon its ability to attract and retain patrons. 
Therefore, during the Restricted Period, Executive shall not, directly
or indirectly, solicit, contact, interfere with, or endeavor to entice away
from the Employer any of its current or potential patrons or any such persons
or entities that were patrons of the Employer within the one year period
immediately prior to Executive’s termination of employment.”

 3
 

 

5.             Effect
on the Agreement.  Except as
specifically amended or waived by this Amendment, all terms and conditions of
the Agreement shall remain in full force and effect.  From and after the Effective Date hereof, all
references to the “Agreement” shall mean such Agreement (as defined herein) as
amended hereby.

6.             Counterparts.  This Amendment may be executed in
counterparts each of which shall be deemed to be an original but all of which
shall constitute one and the same agreement.

[Signature Page Follows]

 4
 

 

IN WITNESS WHEREOF, each of the parties have caused
this Amendment to be executed on its behalf by its officers thereunto duly
authorized as of the day and year first written above.

	
  

  	
   

  	
  SENECA GAMING CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ John Pasqualoni

  
	
   

  	
   

  	
  Name:

  	
   

  	
  John Pasqualoni

  
	
   

  	
   

  	
  Title:

  	
   

  	
  President and CEO

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EXECUTIVE

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:r

  	
   

  	
  /s/ Michael Speller

  
	
   

  	
   

  	
  Name:

  	
   

  	
  Michael Speller

  

 

 5

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