Document:

EX-4.2

[CONFORMED AS EXECUTED]

SECOND INCREMENTAL COMMITMENT AGREEMENT

As of December 21, 2004

Ameristar Casinos, Inc.

3773 Howard Hughes Parkway

Suite 490S

Las Vegas, Nevada 89109

re Incremental Commitment

Gentlemen:

Reference is hereby made to the Credit Agreement, dated as of December 20, 2000 (as amended,
modified or supplemented from time to time, the “Credit Agreement”), among Ameristar Casinos, Inc.
(the “Borrower”), the lenders from time to time party thereto (the “Lenders”), and Deutsche Bank
Trust Company Americas (f/k/a Bankers Trust Company), as Administrative Agent (the “Administrative
Agent”). Unless otherwise defined herein, capitalized terms used herein shall have the respective
meanings set forth in the Credit Agreement.

Each Lender (each an “Incremental Lender”) party to this letter agreement (this “Agreement”)
hereby severally agrees to provide the Incremental Commitment(s) set forth opposite its name on
Annex I attached hereto (for each such Incremental Lender, its “Incremental Commitment”); provided
that the proceeds of any Term Loans made pursuant to the Incremental Commitments shall be utilized
by the Borrower solely to finance the Black Hawk Acquisition. Each Incremental Commitment provided
pursuant to this Agreement shall be subject to the terms and conditions set forth in the Credit
Agreement, including Section 1.14 thereof.

Each Incremental Lender, the Borrower and the Administrative Agent acknowledge and agree that
the Incremental Commitment(s) provided pursuant to this Agreement shall constitute an Incremental
Commitment(s) of the respective Tranche specified in Annex I attached hereto and, upon the
incurrence of Loans pursuant to such Incremental Commitments, shall constitute Loans under such
specified Tranche for all purposes of the Credit Agreement and the other Credit Documents. Each
Incremental Lender and the Borrower further agree that, with respect to the Incremental Commitment
provided by it pursuant to this Agreement, such Incremental Lender shall receive such upfront fees,
if any, equal to that amount set forth opposite its name on Annex I hereto, which upfront fee shall
be due and payable to such Incremental Lender upon the Agreement Effective Date (as defined in
Annex I) or as otherwise specified in said Annex I.

Furthermore, each of the parties to this Agreement hereby agree to the terms and conditions
set forth on Annex I hereto in respect of each Incremental Commitment provided pursuant to this
Agreement.

Each Incremental Lender party to this Agreement (i) confirms that it has received a copy of
the Credit Agreement and the other Credit Documents, together with copies of the financial
statements referred to therein and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into this Agreement and to become
a Lender under the Credit Agreement, (ii) agrees that it will, independently and without reliance
upon the Administrative Agent or any other Lender and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit decisions in taking or not
taking action under the Credit Agreement and the other Credit Documents, (iii) appoints and
authorizes the Administrative Agent and the Collateral Agent to take such action as agent on its
behalf and to exercise such powers under the Credit Agreement and the other Credit Documents as are
delegated to the Administrative Agent and the Collateral Agent, as the case may be, by the terms
thereof, together with such powers as are reasonably incidental thereto, (iv) agrees that it will
perform in accordance with their terms all of the obligations which by the terms of the Credit
Agreement and the other Credit Documents are required to be performed by it as a Lender, and (v) in
the case of each lending institution organized under the laws of a jurisdiction outside the United
States, attaches the forms prescribed by the Internal Revenue Service of the United States,
certifying as to its entitlement to a complete exemption from United States withholding taxes with
respect to all payments to be made under the Credit Agreement and the other Credit Documents.

The Borrower acknowledges and agrees that (i) it shall be liable for all Obligations with
respect to the Incremental Commitment(s) provided hereby including, without limitation, any Loans
made pursuant thereto and (ii) all such Obligations (including any such Loans) shall be entitled to
the benefits of the Security Documents.

Each Guarantor acknowledges and agrees that all Obligations with respect to the Incremental
Commitment(s) provided hereby and any Loans made pursuant thereto shall (i) be fully guaranteed
pursuant to the respective Guaranty in accordance with the terms and provisions thereof and (ii) be
entitled to the benefits of the Security Documents.

You may accept this Agreement by signing the enclosed copies in the space provided below, and
returning one copy of same to us before the close of business on December 21, 2004. If you do not
so accept this Agreement by such time, our Incremental Commitment(s) set forth in this Agreement
shall be deemed canceled.

After the execution and delivery to the Administrative Agent of a fully executed copy of this
Agreement (including by way of counterparts and by facsimile transmission) by the parties hereto,
this Agreement may only be changed, modified or varied by written instrument in accordance with the
requirements for the modification of Credit Documents pursuant to Section 13.12 of the Credit
Agreement.

In the event of any conflict between the terms of this Agreement and those of the Credit
Agreement, the terms of the Credit Agreement shall control.

THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF
NEW YORK.

Very truly yours,

DEUTSCHE BANK TRUST COMPANY AMERICAS

By: /s/ Mary Kay Coyle

	 	 	 	Title: Managing Director

1

Agreed and Accepted this 21st

day of December, 2004:

AMERISTAR CASINOS, INC.

By: /s/ Peter C. Walsh

Title: Senior Vice President & General Counsel

DEUTSCHE BANK TRUST COMPANY

AMERICAS (f/k/a Bankers Trust Company),

as Administrative Agent

By: /s/ Mary Kay Coyle

Title: Managing Director

2

Each Guarantor acknowledges and agrees to the foregoing provisions of this Incremental Commitment
Agreement, specifically including the acknowledgments and agreements made by it pursuant to the
seventh paragraph of the Agreement.

AMERISTAR CASINO VICKSBURG, INC.,

AMERISTAR CASINO COUNCIL BLUFFS, INC.,

CACTUS PETE’S, INC.,

A.C. FOOD SERVICES, INC.,

AMERISTAR CASINO ST. LOUIS, INC.,

AMERISTAR CASINO KANSAS CITY, INC.,

AMERISTAR CASINO ST. CHARLES, INC.,

AMERISTAR CASINO LAS VEGAS, INC.

AMERISTAR CASINO BLACK HAWK, INC.

RICHMOND STREET DEVELOPMENT, INC.,

each as a Guarantor

By: /s/ Peter C. Walsh

Title: Vice President

3

ANNEX I TO INCREMENTAL COMMITMENT AGREEMENT DATED DECEMBER
21, 2004

TERMS AND CONDITIONS FOR

INCREMENTAL COMMITMENT AGREEMENT

1. INCREMENTAL COMMITMENTS

	 	 	 	 	 
	Name of Incremental Lender	 	Amount of B-1 Term Loan Commitment
	Deutsche Bank Trust

Company Americas
	 	$	115,000,000	 
	Total
	 	$	115,000,000	 
	 
	 	 	 	 

2. Designation of Tranche of Incremental Term Loan Commitments (and Incremental Term Loans to be
funded thereunder): B-1 Term Loan Tranche.

3. Incremental Term Loan Maturity Date: The B-1 Term Maturity Date provided in the Credit
Agreement.

4. Dates for, and amounts of, Incremental Term Loan Scheduled Repayments: Calculated as provided
in Section 4.02(c) of the Credit Agreement.

5. Other Fees: The fee set forth in Section 1.14(b)(ii) of the Credit Agreement.

6. Interest Rates: The interest rate applicable to B-1 Term Loans pursuant to the Credit
Agreement.

7. Specified Tranche: Not Applicable.

8. Conditions Precedent:

In addition to the conditions to the making of Incremental Loans under the Credit Agreement
(including, without limitation, those set forth in Section 1.14 and Section 6), the obligation of
each Incremental Lender party hereto to make the Term Loans pursuant to the Incremental Commitments
shall be subject to the following conditions:

(i) the structure and all terms of, and the documentation for, the Black Hawk Acquisition shall be
satisfactory in form and substance to the Administrative Agent and such documentation shall be in
full force and effect and the Black Hawk Acquisition shall have been consummated in accordance with
the respective documentation therefor and all applicable laws;

(ii) no Default or Event of Default shall have occurred and be continuing and all representations
and warranties contained in the Credit Agreement or any other Credit Document are true and correct
in all material respects;

(iii) all necessary and material governmental (domestic and foreign) approvals and/ or consents in
connection with the Black Hawk Acquisition and the incurrence of Term Loans made pursuant to the
Incremental Commitments shall have been obtained and remain in effect, and all applicable waiting
periods shall have expired without any action being taken by any competent authority which
restrains, prevents, or imposes materially adverse conditions upon the consummation of the Black
Hawk Acquisition. In addition, all necessary governmental (domestic and foreign) and material
third party approvals and/or consents in connection with the incurrence of the Loans shall have
been obtained and remain in effect. Additionally, there shall not exist any judgment, order,
injunction or other restraint prohibiting or imposing materially adverse conditions upon the Black
Hawk Acquisition or the Loans or the transactions contemplated herein.

(iv) since December 31, 2003, nothing shall have occurred (and the Administrative Agent shall not
have become aware of any facts or conditions not previously known) which the Administrative Agent
shall determine has had, or could reasonably be expected to have, a Material Adverse Effect (both
before and immediately after giving pro forma effect to the Black Hawk Acquisition);

(v) no litigation by any entity (private or governmental) shall be pending or threatened with
respect to the Black Hawk Acquisition or any documentation executed in connection therewith, or
which the Administrative Agent shall determine has had, or could reasonably be expected to have, a
Material Adverse Effect (both before and immediately after giving pro forma effect to the Black
Hawk Acquisition);

(vi) the Administrative Agent shall have received (i) from Gibson, Dunn & Crutcher LLP, special
counsel to the Borrower and its Subsidiaries, an opinion addressed to the Administrative Agent and
each of the Lenders and dated the Agreement Effective Date, which shall be in form and substance
reasonably satisfactory to the Administrative Agent, (ii) from Holme Roberts & Owen LLP, special
counsel to the Borrower and its Subsidiaries, an opinion addressed to the Administrative Agent and
each of the Lenders, which shall be in form and substance reasonably satisfactory to the
Administrative Agent and shall cover the perfection of the security interests granted pursuant to
the Mortgage, Colorado Gaming Regulations and such other matters incident to the transactions
contemplated herein as the Administrative Agent may reasonably request and (iii) from Schreck
Brignone LLP, special counsel to the Borrower and its Subsidiaries, an opinion addressed to the
Administrative Agent and each of the Lenders, which shall be in form and substance reasonably
satisfactory to the Administrative Agent;

(vii) the incurrence of the Incremental Loans shall be in full compliance with all applicable
requirements of the margin regulations;

(viii) all costs, fees, expenses (including, without limitation, reasonable legal fees and
expenses) and other compensation contemplated hereby, payable to the Lenders or the Administrative
Agent shall have been paid to the extent due; and

(ix) the Administrative Agent shall have received a certificate in the form of Exhibit A attached
hereto from the chairman of the board, president, any vice president, the treasurer, any other
financial officer or an authorized manager of the Borrower, dated the Agreement Effective Date,
certifying that (i) the conditions set forth in this paragraph 8 (excluding any items to be
determined by the Administrative Agent) have been satisfied and (ii) the Asset Purchase Agreement,
dated as of May 28, 2004, by and between Windsor Woodmont Black Hawk Resort Corp. and the Borrower
and all amendments thereto are in full force and effect (such date of the satisfaction of the
conditions set forth in this paragraph 8, the “Agreement Effective Date”).

9. Conditions Subsequent:

The Borrower shall, or cause its Subsidiaries to:

(i) amend each Mortgage and each Ship Mortgage in a manner reasonably satisfactory in form and
substance to the Administrative Agent to secure the Obligations with respect to the Incremental
Commitment provided hereby and any Loans made pursuant thereto;

(ii) update all Mortgage Policies, the endorsement thereto being subject to the mortgagee’s
reasonable approval;

(iii) obtain and deliver to the Administrative Agent any and all consents from or notices to third
parties (including, without limitation, tenants, Gaming Authorities and the Iowa Department of
Natural Resources), as applicable;

(iv) deliver to the Collateral Agent (A) a Mortgage covering all real property acquired pursuant to
the Black Hawk Acquisition (the “Black Hawk Property”), (B) a Mortgage Policy for the Black Hawk
Property, (C) flood insurance covering the Black Hawk Property, by an insurer reasonably
satisfactory to the Collateral Agent and in an amount reasonably satisfactory to the Administrative
Agent, (D) an ALTA survey of the Black Hawk Property certified to the Collateral Agent and (E)
copies of all leases affecting the Black Hawk Property together with fully executed Subordination,
Non-Disturbance and Attornment Agreements, in form and substance satisfactory to the Collateral
Agent, if requested by the Collateral Agent;

It shall constitute a Default if the conditions contained in this paragraph 9 are not satisfied
within ten (10) days of receipt by the Borrower of written notice of such failure of condition from
the Administrative Agent, given more than thirty (30) days after the Agreement Effective Date, and
an Event of Default if such conditions are not satisfied in a manner reasonably satisfactory in
form and substance to the Administrative Agent within thirty (30) days of receipt by the Borrower
of written notice of such Default from the Administrative Agent. The Borrower agrees to pay all
costs and expenses in connection with the negotiation and execution of the amendments to the
Mortgages, Ship Mortgages, deeds of trust and any and all other agreements and documents relating
to the Real Property or the Ship Property, including, without limitation, recordation and filing
fees, taxes, reasonable attorneys’ fees and expenses, and, to the extent incurred in connection
with updating the Mortgage Policies, charges for title examination and title insurance premiums.
In addition, the Borrower acknowledges that certain notice filings with respect to this Agreement
need to be completed pursuant to the Gaming Regulations applicable to the Borrower and its
Subsidiaries. The Borrower agrees to complete all such filings, and to cause its Subsidiaries to
complete such filings, in a timely manner and to notify the Administrative Agent upon the
completion thereof.

10. Commitment Termination.

The commitment of each Incremental Lender under this Agreement shall terminate on January 31, 2005
unless the Black Hawk Acquisition has been consummated and the Term Loans contemplated herein have
been incurred on or prior to such date. The Borrower shall have the right, at any time upon
written notice to the Administrative Agent, to terminate the commitment of the Incremental Lenders
under this Agreement.

4

INCREMENTAL COMMITMENT AGREEMENT OFFICER’S CERTIFICATE

I, the undersigned, [Authorized Officer] of AMERISTAR CASINOS, INC., a corporation organized and
existing under the laws of the State of Nevada (the “Company”), do hereby certify on behalf of the
Company that:

1. This Certificate is furnished pursuant to paragraph 8(ix) of Annex I to the Second Incremental
Commitment Agreement, dated as of December 21, 2004, among the Borrower, Deutsche Bank Trust
Company Americas, as Incremental Lender and the Administrative Agent. and the Subsidiary Guarantors
named therein (the “Incremental Commitment Agreement”). Unless otherwise defined herein,
capitalized terms used in this Certificate shall have the meanings set forth in the Incremental
Commitment Agreement.

2. On the date hereof, all of the conditions set forth in paragraph 8 of Annex I to the Incremental
Commitment Agreement (excluding any items to be determined by the Administrative Agent) have been
satisfied.

3. Attached hereto as Annex A is a true and correct copy of the Asset Purchase Agreement, dated as
of May 28, 2004, by and between Windsor Woodmont Black Hawk Resort Corp. and Ameristar Casinos,
Inc. and all amendments thereto, which is in full force and effect.

IN WITNESS WHEREOF, I have hereunto on behalf of the Company set my hand this    day of December,
2004.

AMERISTAR CASINOS, INC.

By    

Name:

Title:

5EX-10.1

Exhibit 10.1

FIRST AMENDMENT

THIS FIRST AMENDMENT (“Amendment”) is entered into on this 22nd day of December, 2004, by and
between Wilsons The Leather Experts Inc. (the “Company”), and Joel N. Waller, a Minnesota resident
(“Waller”).

WHEREAS, Waller has been employed by the Company as its Chairman and Chief Executive Officer
and is a director of the Company;

WHEREAS, the Company and Waller previously entered into an Agreement dated October 28th, 2004
(the “Original Agreement”), pursuant to which Waller resigned all positions held by Waller as an
employee, officer, and director of the Company and as a director and officer of all subsidiaries of
the Company effective as of January 31, 2005;

WHEREAS, Waller and the Company have agreed that Waller shall remain a director of the Company
until the expiration of his term at the 2005 annual meeting of shareholders of the Company, subject
to the terms and conditions of this Amendment; and

WHEREAS, the Company and Waller desire to amend the Original Agreement as set forth in this
Amendment in connection with Waller’s service as a director of the Company;

NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements contained
herein, the parties agree as follows:

1. Section 2 of the Original Agreement is hereby deleted in its entirety and replaced with the
following:

2. Resignations/Final Pay.

(a) The Company and Waller confirm that Waller has resigned as Chief Executive
Officer of the Company effective December 15, 2004. By executing this
Agreement, Waller confirms his resignation of all other positions held by Waller as
an employee and officer of the Company (including as Chairman of the Board of the
Company) and as a director and officer of all subsidiaries of the Company, effective
as of the Separation Time. Waller shall continue as a director of the Company for
the remainder of his term, ending at the 2005 annual meeting of shareholders,
subject to his earlier resignation or removal, but shall not seek re-election as a
director at the 2005 annual meeting of shareholders.

(b) Waller shall be paid his base salary through the Separation Time, in bi-weekly
installments, at the rate in effect as of the date of this Agreement. Following the
Separation Time, the Company will pay, or will cause one or more of its subsidiaries
to pay, Waller: (i) any accrued and unused paid time off, payable in accordance with
the regular practices of the Company; and (ii) the full amount of the incentive
award for the Incentive Plan period ending on the Separation Time, payable on the
same date and in the same manner that awards under the Incentive Plan for such year
are paid to the other participants in the Incentive Plan.

(c) Waller shall not be entitled to receive any compensation for his service as a
director of the Company.

2. All capitalized terms not otherwise defined herein shall have the meanings ascribed to such
terms in the Original Agreement. Other than as expressly amended in this Amendment, the Original
Agreement shall continue in full force and effect, as so amended by this Amendment.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the date stated above.

/s/ Joel N. Waller

Joel N. Waller

WILSONS THE LEATHER EXPERTS INC.

By: /s/Michael Cowhig

	 	 	 	Michael Cowhig

Its Chairman, Compensation Committee

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