Document:

ASCA-EX10.21_2011.12.31

Exhibit 10.21
SECOND AMENDMENT TO 
NON-QUALIFIED STOCK OPTION AGREEMENT
THIS SECOND AMENDMENT TO NON-QUALIFIED STOCK OPTION AGREEMENT (this “Amendment”) is made and entered into as of November 10, 2011, by and between Ameristar Casinos, Inc., a Nevada corporation (the “Company”), and the person named in the cover memorandum to which this Amendment is attached (the “Optionee”). 
WHEREAS, the Company and the Optionee are parties to one or more Non-Qualified Stock Option Agreements, as previously amended as of October 28, 2011 (each a “Stock Option Agreement”); and
WHEREAS, the Company and the Optionee desire to amend each Stock Option Agreement in certain respects as more particularly set forth in this Amendment. 
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the Company and the Optionee agree as follows: 
		
	1.
	Amendment to Provisions Regarding Vesting and Termination of Option.  The following new provisions are hereby added to the existing provisions regarding the termination of the Optionee's options:

“In the event that the Relationship is terminated by the Optionee's Retirement (as defined below), the Option, if granted at least one (1) year prior to the date of Retirement, shall continue to vest as described in Section 1 hereof and shall terminate only upon the earlier of (i) four years from the date of Retirement or (ii) the date set forth above next to the heading “Expiration Date.”  For purposes of this Agreement, “Retirement” means the termination of the Optionee's Relationship as an employee of the Company or a Related Company for any reason other than cause, death or Permanent Disability after the Optionee has (i) obtained at least 75 Points (as defined below), (ii) attained at least 60 years of age, and (iii) completed at least five (5) full years of service with the Company or a Related Company, including service as a non-employee member of the Board of Directors of the Company or a Related Company.  The Optionee's “Points” shall be equal the sum of the Optionee's age (full years only) and full years of service with the Company or a Related Company, including service as a non-employee member of the Board of Directors of the Company or a Related Company.
If the Optionee shall die at a time when the Optionee is in a Relationship or if the Optionee shall cease to have a Relationship by reason of Permanent Disability, any portion of the Option which is not otherwise fully vested and exercisable with respect to all of the Shares at that time subject to the Option shall automatically accelerate so that the Option shall immediately become exercisable for all the Shares at the time subject to the Option and may be exercised for any or all of those Shares, and the Option shall terminate upon the earlier of (i) four years from the date of death or termination of the Relationship by reason of Permanent Disability or (ii) the date set forth above next to the heading “Expiration Date.”     In the case of death, the Option may be exercised by the person or persons to whom the Optionee's rights under the Option shall pass by will or by the laws of descent and distribution.”
		
	2.
	Confirmation. Except as amended pursuant to this Amendment, the terms of the Stock Option Agreements shall continue in full force and effect.ASCA-EX10.22_2011.12.31

Exhibit 10.22
AMENDMENT TO 
RESTRICTED STOCK UNIT AGREEMENT
THIS AMENDMENT TO RESTRICTED STOCK UNIT AGREEMENT (this “Amendment”) is made and entered into as of October 28, 2011, by and between Ameristar Casinos, Inc., a Nevada corporation (the “Company”), and the person named in the cover memorandum to which this Amendment is attached (the “Grantee”). 
WHEREAS, the Company and the Grantee are parties to one or more Restricted Stock Unit Agreements (each an “RSU Agreement”); and
WHEREAS, the Company and the Grantee desire to amend each RSU Agreement in certain respects as more particularly set forth in this Amendment. 
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the Company and the Grantee agree as follows: 
		
	1.
	Amendment to Provision Relating to Vesting and Termination of RSUs.  The following new provisions are hereby added to the existing provisions regarding the vesting and termination of the Grantee's RSUs:

“Notwithstanding anything herein to the contrary, if your Relationship terminates by reason of Retirement (as defined below), your RSUs, if granted at least one (1) year prior to the date of Retirement, shall continue to vest as described above.  For purposes of this Section 2, “Retirement” means the termination of your Relationship with the Company or a Related Company as an employee for any reason other than cause after you have (i) obtained at least 75 Points (as defined below), (ii) attained at least 60 years of age, and (iii) completed at least five (5) full years of service with the Company or a Related Company, including service as a non-employee member of the Board of Directors of the Company or a Related Company.  Your “Points” shall be equal the sum of your age (full years only) and full years of service with the Company or a Related Company, including service as a non-employee member of the Board of Directors of the Company or a Related Company.  
As used herein, the term “cause” shall mean that the Relationship is terminated by the Company or a Related Company due to (i) your commission of a substantial violation, through intentional conduct or through a pattern of behavior not corrected within a reasonable period of time after written notice to you by the Company or such Related Company of such behavior (in either case, whether by action or omission), of your duties on behalf of the Company or a Related Company or the workplace policies or rules of the Company or a Related Company which conduct or behavior actually results in substantial harm to the Company or a Related Company or could reasonably be expected to put personnel of the Company or a Related Company in serious jeopardy of imminent harm to their safety, health or well-being or to cause substantial harm to the business of the Company or a Related Company or (ii) your commission of any act(s) or omission(s) constituting dishonesty, a felony or fraud or (iii) your failure to satisfy any requirements under applicable gaming laws or regulations for the continuance of your Relationship with the Company or such Related Company.  Notwithstanding the foregoing sentence, in the event of any conflict between the definition of “cause” set forth above and the definition of “for cause” or “cause” in any employment agreement you may have with the Company or a Related Company, the definition and other provisions concerning the determination of  “for cause” or “cause” in such employment agreement shall control. As used herein, whether a Relationship is or has been terminated for 

“cause” shall be finally determined by the Committee.”
		
	2.
	Amendment to Provision Regarding Change in Control.  The provision of the RSU Agreements regarding vesting acceleration and/or cash-out in connection with a Change in Control or other corporate transaction are hereby amended to provide that any such adjustment will only occur to the extent permitted by Section 409A of the Internal Revenue Code and Treasury Regulations thereunder.

		
	3.
	Confirmation. Except as amended pursuant to this Amendment, the terms of the RSU Agreements shall continue in full force and effect.ASCA-EX10.23_2011.12.31

Exhibit 10.23
SECOND AMENDMENT TO 
RESTRICTED STOCK UNIT AGREEMENT
THIS SECOND AMENDMENT TO RESTRICTED STOCK UNIT AGREEMENT (this “Amendment”) is made and entered into as of November 10, 2011, by and between Ameristar Casinos, Inc., a Nevada corporation (the “Company”), and the person named in the cover memorandum to which this Amendment is attached (the “Grantee”). 
WHEREAS, the Company and the Grantee are parties to one or more Restricted Stock Unit Agreements, as previously amended as of October 28, 2011 (each an “RSU Agreement”); and
WHEREAS, the Company and the Grantee desire to amend each RSU Agreement in certain respects as more particularly set forth in this Amendment. 
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the Company and the Grantee agree as follows: 
		
	1.
	Amendment to Provision Relating to Vesting of RSUs.  The following new provision is hereby added to the existing provisions regarding the vesting of the Grantee's RSUs:

“Notwithstanding anything herein to the contrary, if you die at a time when you are in a Relationship, or if you cease to have a Relationship by reason of Permanent Disability, any portion of your RSUs that have not otherwise vested shall automatically accelerate so that all such RSUs shall immediately become vested.  As used herein, the term “Permanent Disability” shall mean termination of your Relationship with the Company or any Related Company with the consent of the Company or such Related Company by reason of your permanent and total disability within the meaning of Section 22(e)(3) of the Internal Revenue Code. 
		
	2.
	Confirmation. Except as amended pursuant to this Amendment, the terms of the RSU Agreements shall continue in full force and effect.ASCA-EX10.24_2011.12.31

Exhibit 10.24
AMENDMENT TO 
NON-QUALIFIED STOCK OPTION AGREEMENT
THIS AMENDMENT TO NON-QUALIFIED STOCK OPTION AGREEMENT (this “Amendment”) is made and entered into as of October 28, 2011, by and between Ameristar Casinos, Inc., a Nevada corporation (the “Company”), and the person named in the cover memorandum to which this Amendment is attached (the “Optionee”). 
WHEREAS, the Company and the Optionee are parties to one or more Non-Qualified Stock Option Agreements (each a “Stock Option Agreement”); and
WHEREAS, the Company and the Optionee desire to amend each Stock Option Agreement in certain respects as more particularly set forth in this Amendment. 
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the Company and the Optionee agree as follows: 
		
	1.
	Amendment to Provisions Regarding Adjustments.  The provision of the Stock Option Agreements regarding adjustments in the event of certain corporate transactions is hereby amended to add the following sentence to the end thereof: “Notwithstanding the foregoing, no adjustment or substitution shall be made with respect to the Option pursuant to this paragraph that would cause the Option, or any other option granted in substitution for the Option, to be treated as providing for a deferral of compensation under Treas. Reg. 1.409A-1(b)(5)(i).”

		
	2.
	Amendment to Provisions Regarding Change in Control.  The provision of the Stock Option Agreements regarding a minimum exercise period for the Optionee's options in the event of a Change in Control or certain other corporate transactions is hereby amended to add the following sentence to the end thereof: “Notwithstanding the foregoing, no extension to the period of exercisability of the Option shall be made that would cause the Option to be treated as providing for a deferral of compensation under Treas. Reg. 1.409A-1(b)(5)(i).”

		
	3.
	Confirmation. Except as amended pursuant to this Amendment, the terms of the Stock Option Agreements shall continue in full force and effect.

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