Document:

Exhibit 10.4

THIRD AMENDMENT TO LOAN
AGREEMENT

This
THIRD AMENDMENT TO LOAN AGREEMENT (this “Amendment”), dated as of
December 12, 2006, is entered into by and among CASCADE CORPORATION, an
Oregon corporation, (the “Borrower”), the several financial institutions
party as of the date hereof to the Loan Amendment referred to below
(collectively called the “Lenders” and individually called a “Lender”),
and BANK OF AMERICA, N.A., as agent for itself and the Lenders (in such
capacity, the “Agent”).

RECITALS

A.            The Borrower, the Lenders and the
Agent are parties to a Loan Agreement, dated as of February 28, 2003 (as
amended from time to time, the “Loan Agreement”).

B.            Pursuant to the Loan Agreement, the
Lenders have extended and are continuing to extend certain credit facilities to
the Borrower.

C.            The Borrower, the Agent and the
Lenders desire to increase the aggregate commitment from $25,000,000 to
$125,000,000, extend the maturity date, and make other changes to the terms and
conditions of the credit facilities.

D.            The Lenders are willing to amend the
Loan Agreement, but only as provided, and subject to the terms and conditions
contained, in this Amendment.

THEREFORE,
for valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto agree as follows:

1.             Defined
Terms.  Unless otherwise
defined herein, each capitalized term used herein shall have the meaning
assigned thereto in the Loan Agreement.

2.             Amendment
to Loan Agreement.  Upon the
effectiveness of, and subject to the terms and conditions contained in, this
Amendment:

(a)           Section
1.1 is hereby amended to delete the definition of “Applicable Interest Rate”
and replace such definition with the following:

“Applicable
Interest Rate” means the following percentages per annum, based upon the
Consolidated Leverage Ratio as set forth in the most recent Compliance
Certificate received by the Agent pursuant to Section 6.10(c):

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Applicable
Interest Rate

	
  Pricing Level

  	
   

  	
  Consolidated

  Leverage Ratio

  	
   

  	
  Commitment

  Fee

  (Basis Points)

  	
   

  	
  Standby

  L/C Fee

  and

  Offshore

  Rate +

  (Basis

  Points)

  	
   

  	
  Base Rate 

  +

  (Basis

  Points)

  
	
  1

  	
   

  	
  >2.00:1.00

  	
   

  	
  30.0

  	
   

  	
  125.0

  	
   

  	
  0

  
	
  2

  	
   

  	
  <2.00:1.00
  but > 1.00:1.00

  	
   

  	
  25.0

  	
   

  	
  100.0

  	
   

  	
  0

  
	
  3

  	
   

  	
  <1.00:1.00

  	
   

  	
  22.5

  	
   

  	
  75.0

  	
   

  	
  0

  

 

Any increase or decrease in the Applicable Interest
Rate resulting from a change in the Consolidated Leverage Ratio shall become
effective as of the first Business Day immediately following the date a
Compliance Certificate is delivered pursuant to Section 6.10(c); provided,
however, that if a Compliance Certificate is not delivered when due in
accordance with such Section, then Pricing Level 1 shall apply as of the first
Business Day after the date on which such Compliance Certificate was required
to have been delivered until such time as the Compliance Certificate has been
delivered and the actual Pricing Level has been determined.  The Applicable Interest Rate in effect from
the date of this Amendment through receipt of the financial statements for the
period ending October 31, 2006, and the accompanying Compliance Certificate,
shall be determined based upon Pricing Level 3.”

(b)           Section
1.1 is hereby amended to delete the definition of “Maturity Date” and replace
such definition with the following:

“‘Maturity Date’ means December 7, 2011.”

(c)           Section
2.1(a) is hereby amended to revise each Lender’s “Commitment Amount,” and
delete the allocation of “Aggregate Commitments” between the Lenders and
replace it with the following:

	
  

  	
   

  	
  Percentage

  	
   

  	
  Commitment

  	
   

  
	
  Lender

  	
   

  	
  Interest

  	
   

  	
  Amount

  	
   

  
	
  Bank of America

  	
   

  	
  60.00

  	
  %

  	
  $

  	
  75,000,000

  	
   

  
	
  Union Bank

  	
   

  	
  40.00

  	
  %

  	
  $

  	
  50,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  100.00

  	
  %

  	
  $

  	
  125,000,000

  	
   

  

 

(d)           Section
2.1(b) (Option to Increase Aggregate Commitments) is hereby deleted.

 2
 

 

(e)           Section
2.2 (Swing Line Loans) is hereby amended to increase the dollar limitation
referenced in the first sentence from Five Million Dollars ($5,000,000) to Ten
Million Dollars ($10,000,000).

(f)            Section
4.2(a) (Letters of Credit Requests) is hereby amended to increase the dollar
limitation in the fifth sentence from Ten Million Dollars ($10,000,000) to
Fifteen Million Dollars ($15,000,000).

(g)           Cascade
Kenhar, Inc., formerly a subsidiary of the Borrower and a Guarantor, has been
merged into the Borrower and is hereby deleted as a Guarantor.  Pursuant to Section 6.11, PSM LLC, a
Washington limited liability company (“PSM”), is hereby added as a Guarantor.

(h)           Section
6.13(a) (Consolidated Net Worth) is hereby deleted.

(i)            Section
6.13(b) (Consolidated Fixed Change Coverage Ratio) is hereby moved to new Section
7.11(a).

(j)            Section
6.13(c) is hereby deleted and replaced with the following:

“Section 7.11(b) 
Consolidated Leverage Ratio.  Permit
the Consolidated Leverage Ratio at any time to be greater than 3.00:1.00.”

(k)           A
new Section 7.11(c) (Capital Stock Repurchases) is hereby added:

“Section 7.11(c) Capital Stock
Repurchases.  During
the term of this Agreement, the Borrower shall not purchase or repurchase any
of its capital stock, or other equity interests, including through any
redemption, acquisition, cancellation or termination transaction or series of
transactions in excess of an aggregate amount of $100,000,000.”

(l)            Section
7.3 (Indebtedness) is hereby deleted and replaced with the following:

“Section 7.3 Indebtedness.  The Borrower shall not, and shall cause each
Subsidiary to not, create, incur or become liable for any Indebtedness except:
(a) the Loans; (b) existing Indebtedness reflected on the balance
sheets referred to in Section 5.7; (c) current accounts payable or accrued
expenses incurred by the Borrower in the ordinary course of business;
(d) Indebtedness permitted under Section 7.4; (e) intercompany
Indebtedness owing by the Borrower or any Subsidiary to the Borrower or any
other Subsidiary permitted under Section 7.6; (f) Indebtedness secured by newly
purchased tangible property (whether real or personal) in an aggregate amount
no greater than Five Million Dollars ($5,000,000) outstanding at any time; and (g) additional unsecured 

 3
 

 

Indebtedness, provided that the total aggregate amount
of such unsecured Indebtedness including any additional amount does not exceed
Twenty-Five Million Dollars ($25,000,000) at any time, and provided that
Borrower remains in compliance with all covenants set forth herein.”

(m)          Sections
10.4 (Mandatory Arbitration) and 10.5 (Waiver of Jury Trial) are hereby deleted
and replaced with the following:

“Section
10.4  Arbitration and Waiver of Jury
Trial.

(a)           This paragraph concerns the
resolution of any controversies or claims between the parties, whether arising
in contract, tort or by statute, including but not limited to controversies or
claims that arise out of or relate to: (i) this agreement (including any
renewals, extensions or modifications); or (ii) any document related to this
agreement (collectively a “Claim”).  For
the purposes of this arbitration provision only, the term “parties” shall
include any parent corporation, subsidiary or affiliate of the Bank involved in
the servicing, management or administration of any obligation described or
evidenced by this agreement.

(b)           At the request of any party to this
agreement, any Claim shall be resolved by binding arbitration in accordance
with the Federal Arbitration Act (Title 9, U.S. Code) (the “Act”).  The Act will apply even though this agreement
provides that it is governed by the law of a specified state.  The arbitration will take place on an
individual basis without resort to any form of class action.

(c)           Arbitration proceedings will be
determined in accordance with the Act, the then-current rules and procedures
for the arbitration of financial services disputes of the American Arbitration
Association or any successor thereof (“AAA”), and the terms of this
paragraph.  In the event of any
inconsistency, the terms of this paragraph shall control.  If AAA is unwilling or unable to (i) serve as
the provider of arbitration or (ii) enforce any provision of this arbitration
clause, any party to this agreement may substitute another arbitration
organization with similar procedures to serve as the provider of arbitration.

(d)           The arbitration shall be administered
by AAA and conducted, unless otherwise required by law, in any U.S. state where
real or tangible personal property collateral for this credit is located or if
there is no such collateral, in the state specified in the governing law
section of this agreement.  All Claims
shall be determined by one arbitrator; however, if Claims exceed Five Million
Dollars ($5,000,000), upon the request of any party, the Claims shall be decided
by three arbitrators.  All arbitration
hearings shall commence within ninety (90) days of the demand 

 4
 

 

for arbitration and close
within ninety (90) days of commencement and the award of the arbitrator(s)
shall be issued within thirty (30) days of the close of the hearing.  However, the arbitrator(s), upon a showing of
good cause, may extend the commencement of the hearing for up to an additional
sixty (60) days.  The arbitrator(s) shall
provide a concise written statement of reasons for the award.  The arbitration award may be submitted to any
court having jurisdiction to be confirmed, judgment entered and enforced.

(e)           The arbitrator(s) will give effect to
statutes of limitation in determining any Claim and may dismiss the arbitration
on the basis that the Claim is barred. For purposes of the application of the
statute of limitations, the service on AAA under applicable AAA rules of a
notice of Claim is the equivalent of the filing of a lawsuit.  Any dispute concerning this arbitration
provision or whether a Claim is arbitrable shall be determined by the
arbitrator(s).  The arbitrator(s) shall
have the power to award legal fees pursuant to the terms of this agreement.

(f)            This paragraph does not limit the
right of any party to: (i) exercise self-help remedies, such as but not limited
to, setoff; (ii) initiate judicial or non-judicial foreclosure against any real
or personal property collateral; (iii) exercise any judicial or power of sale
rights, or (iv) act in a court of law to obtain an interim remedy, such as but
not limited to, injunctive relief, writ of possession or appointment of a
receiver, or additional or supplementary remedies.

(g)           The filing of a court action is not
intended to constitute a waiver of the right of any party, including the suing
party, thereafter to require submittal of the Claim to arbitration.

(h)           BY AGREEING TO BINDING ARBITRATION,
THE PARTIES IRREVOCABLY AND VOLUNTARILY WAIVE ANY RIGHT THEY MAY HAVE TO A
TRIAL BY JURY IN RESPECT OF ANY CLAIM. 
FURTHERMORE, WITHOUT INTENDING IN ANY WAY TO LIMIT THIS AGREEMENT TO
ARBITRATE, TO THE EXTENT ANY CLAIM IS NOT ARBITRATED, THE PARTIES IRREVOCABLY
AND VOLUNTARILY WAIVE ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF
SUCH CLAIM.  THIS PROVISION IS A MATERIAL
INDUCEMENT FOR THE PARTIES ENTERING INTO THIS AGREEMENT.”

(n)           The
following Section 10.18 is hereby added to the Loan Agreement:

“Section
10.18  USA Patriot Act Notice: 
Each Lender that is subject to the Act (as hereinafter defined) and the
Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower
that 

 5
 

 

pursuant
to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed
into law October 26, 2001)) (the “Act”), it is required to obtain,
verify and record information that identifies the Borrower, which information
includes the name and address of the Borrower and other information that will
allow such Lender or the Agent, as applicable, to identify the Borrower in
accordance with the Act.”

3.             Representations
and Warranties.  The Borrower hereby
represents and warrants to the Agent and the Lenders as follows:

(a)           No
Default or Event of Default has occurred and is continuing.

(b)           The
execution, delivery and performance by the Borrower of this Amendment have been
duly authorized by all necessary corporate and other action and do not and will
not require any registration with, consent or approval of, or notice to or
action by any Person (including any Governmental Person) in order to be
effective and/or enforceable. Each of this Amendment and the Loan Agreement as
amended by this Amendment constitutes the legal, valid and binding obligation
of the Borrower, enforceable against it, without defense, counterclaim or
offset, in accordance with its terms (subject to the waivers set forth in this
Amendment), except as limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws of general applicability affecting the
enforceability of creditors’ rights.

(c)           All
representations and warranties of the Borrower contained in the Loan Agreement
and the statements set forth in the recitals of this Amendment are true and
correct on and as of the date hereof (or, if any such representation or
warranty is expressly stated to have been made as of a specific date, as of
such specific date), in each case, other than (i) those that would not be true
and correct but for the effectiveness of this Amendment, and (ii) with respect
to Section 5.16 of the Loan Agreement, as otherwise disclosed to the Agent.

(d)           The
Borrower is entering into this Amendment on the basis of its own business
judgment, without reliance upon the Agent, any Lender or any other Person.

4.             Effective
Date.  This Amendment will become
effective as of the date first set forth above (the “Effective Date”), provided
that each of the following conditions precedent is satisfied on or before the
Effective Date:

(a)           the
Agent has received, in sufficient number for each Lender, duly executed
originals (or, if elected by the Agent, an executed facsimile copy, to be
followed promptly by delivery of executed originals) of this Amendment,
executed by the Borrower and each of the Lenders and acknowledged by the Agent,
together with the Guarantor Acknowledgment and Consent attached hereto,
executed by each Guarantor, and such other documentation as Agent shall
reasonably require, including, but not limited to, an opinion of counsel to the
Borrower, resolutions authorizing the transaction described herein, and officer’s
certificates, and a Continuing Guaranty executed by PSM in favor of the Agent
and the Lenders.

(b)           all
of the representations and warranties contained herein (or incorporated herein
by reference) are true and correct as of the Effective Date.

 6
 

 

(c)           the
Agent shall have received payment for the fees set forth below, which are due
and payable at closing, as well as costs and expenses of the Agent (including
reasonable attorneys’ fees) in connection with the transactions contemplated
hereby:

(i)            Upfront
Fee.  Borrower shall pay to Bank
of America, as Agent for the Lenders, an upfront fee as set forth in the fee
letter agreement dated as of the date of this Amendment (the “Fee Letter”).  The upfront fee shall be fully earned and
non-refundable when paid.

(ii)           Arrangement
Fee.  Borrower shall pay to Bank
of America, for its own account, an arrangement fee as set forth in the Fee
Letter.  The arrangement fee shall be due
and payable at closing of this Amendment, and shall be fully earned and
non-refundable when paid.

(iii)          Annual
Agency Fees.  Pursuant to Section
2.13(d) of the Loan Agreement, so long as any Lender shall have any Commitment
hereunder and until payment in full of each Loan, the Borrower agrees to pay to
the Agent for its own account, an annual administrative fee as provided in the
Fee Letter.  The annual agency fee shall
be payable in advance on February 28th of each year and shall be deemed fully earned
when due and non-refundable when paid.

5.             No
Further Amendments.  Other than the specific amendments
of the Loan Agreement as set forth in Section 2 hereof: (i) nothing contained
herein shall be deemed a waiver of any provision, or any other existing or
future noncompliance with any provision, of the Loan Agreement (including the
Loan Agreement as amended hereby); and (ii) all of the terms, covenants and
provisions of the Loan Agreement are and shall remain in full force and effect.

6.             Miscellaneous.

(a)           All
references in the Loan Agreement and in the other Loan Documents to the Loan
Agreement shall henceforth refer to the Loan Agreement as amended by this
Amendment. This Amendment shall be deemed incorporated into, and a part of, the
Loan Agreement. This Amendment is a Loan Document.

(b)           This
Amendment is made pursuant to Section 10.1 of the Loan Agreement and shall be
binding upon and inure to the benefit of the parties hereto and thereto and
their respective successors and assigns. No third party beneficiaries are
intended in connection with this Amendment.

(c)           This
Amendment shall be governed by and construed in accordance with the law of the
State of Oregon.

(d)           This
Amendment may be executed in any number of counterparts, each of which shall be
deemed an original, but all such counterparts together shall constitute but one
and the same instrument. Each of the parties hereto understands and agrees that
this document (and any other document required herein) may be delivered by any
party thereto either in the form of an executed original or an executed
original sent by facsimile transmission to be followed promptly by delivery of
a hard copy original, and that receipt by the Agent of a facsimile 

 7
 

 

transmitted
document purportedly bearing the signature of a Lender or the Borrower (or
Guarantor) shall bind such Lender or the Borrower (or Guarantor), respectively,
with the same force and effect as the delivery of a hard copy original. Any
failure by the Agent to receive the hard copy executed original of such
document shall not diminish the binding effect of receipt of the facsimile
transmitted executed original of such document of the party whose hard copy
page was not received by the Agent.

(e)           If
any term or provision of this Amendment shall be deemed prohibited by or
invalid under any applicable law, such provision shall be invalidated without
affecting the remaining provisions of this Amendment or the Loan Agreement,
respectively.

(f)            Each
of the provisions set forth in Section 10 of the Loan Agreement is incorporated
herein by this reference and made applicable to this Amendment.

(g)           The
Borrower covenants to pay to or reimburse the Agent, upon demand, for all
reasonable costs and expenses (including reasonable attorneys’ fees) incurred
in connection with the development, preparation, negotiation, execution and
delivery of this Amendment.

(h)           UNDER OREGON LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS MADE BY THE
LENDERS CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR
PERSONAL, FAMILY OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY THE BORROWER’S
RESIDENCE MUST BE IN WRITING, EXPRESS CONSIDERATION, AND BE SIGNED BY THE
LENDERS TO BE ENFORCEABLE.

IN WITNESS WHEREOF, the parties have caused this
Amendment to be duly executed and delivered as of the date first written above.

	
  CASCADE CORPORATION, as the
  Borrower

  	
   

  	
  BANK OF AMERICA, N.A., as Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  BANK OF AMERICA,
  N.A., as a Lender

  	
   

  	
  UNION BANK OF CALIFORNIA, N.A., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  	
   

  
													

 

 8
 

 

GUARANTOR
ACKNOWLEDGMENT AND CONSENT

The
undersigned Guarantor hereby: (i) acknowledges and consents to the terms, and
the execution, delivery and performance, of the foregoing Amendment (the “Amendment”)
(without implying the need for any such acknowledgment or consent); and (ii)
represents and warrants to the Agent and the Lenders that, both before and
after giving effect to the Amendment: (A) its Guaranty remains in full force
and effect as an enforceable obligation of such Guarantor (except as
enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws of general applicability affecting the
enforceability of creditors’ rights), without defense, counterclaim or offset;
and (B) it is in compliance with all of its covenants contained in its Guaranty
and in each other Loan Document applicable to it. The undersigned further
represents and warrants to the Agent and the Lenders that the execution and
delivery by such Guarantor of, and the performance by such Guarantor of its
obligations under, this Guarantor Acknowledgment and Consent, have been duly
authorized by all necessary corporate and other action and do not and will not require
any registration with, consent or approval of, or notice to or action by any
Person (including, without limitation, any Governmental Person) in order to be
effective and/or enforceable. The undersigned remakes as of the Effective Date
(as defined in the Amendment) all of the representations and warranties made by
it under its Guaranty. Capitalized terms used herein and not otherwise defined
have the respective meanings assigned to them in the Loan Agreement (as defined
in the Amendment).

IN
WITNESS WHEREOF, the undersigned Guarantor has executed this Guarantor
Acknowledgment and Consent by its duly authorized officer as of
December 12, 2006.

	
  

  	
  SANDY BLVD. DEVELOPMENT
  ASSOCIATES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 9
 

 

GUARANTOR
ACKNOWLEDGMENT AND CONSENT

The
undersigned Guarantor hereby: (i) acknowledges and consents to the terms, and
the execution, delivery and performance, of the foregoing Amendment (the “Amendment”)
(without implying the need for any such acknowledgment or consent); and (ii)
represents and warrants to the Agent and the Lenders that, both before and
after giving effect to the Amendment: (A) its Guaranty remains in full force
and effect as an enforceable obligation of such Guarantor (except as
enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws of general applicability affecting the
enforceability of creditors’ rights), without defense, counterclaim or offset;
and (B) it is in compliance with all of its covenants contained in its Guaranty
and in each other Loan Document applicable to it. The undersigned further
represents and warrants to the Agent and the Lenders that the execution and
delivery by such Guarantor of, and the performance by such Guarantor of its
obligations under, this Guarantor Acknowledgment and Consent, have been duly
authorized by all necessary corporate and other action and do not and will not
require any registration with, consent or approval of, or notice to or action
by any Person (including, without limitation, any Governmental Person) in order
to be effective and/or enforceable. The undersigned remakes as of the Effective
Date (as defined in the Amendment) all of the representations and warranties
made by it under its Guaranty. Capitalized terms used herein and not otherwise
defined have the respective meanings assigned to them in the Loan Agreement (as
defined in the Amendment).

IN
WITNESS WHEREOF, the undersigned Guarantor has executed this Guarantor
Acknowledgment and Consent by its duly authorized officer as of
December 12, 2006.

	
  

  	
  PSM LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 10Exhibit
10.29

EXECUTION
COPY

EMPLOYMENT
AGREEMENT

THIS
AGREEMENT (this “Agreement”) is executed this 15th day of December, 2006, to be
effective as of June 22, 2006 (the “Effective Date”) between the Seneca Gaming
Corporation (the “Company”), a wholly-owned subsidiary of the Seneca Gaming
Corporation and a governmental instrumentality of the Seneca Nation of Indians
of New York (the “Nation”), and Pat Fox (“Employee”).

WHEREAS,
it is in the best interest of the Company and the Employee that there be a
written contract defining the rights and obligations of the parties under their
employment arrangement.

IT
IS HEREBY AGREED AS FOLLOWS:

1.                                       Employment

The
Company hereby employs Employee as Vice President and Chief Financial Officer
and Employee hereby accepts such employment under the terms and conditions of
this Agreement.  Employee shall work
under the authority of the President and Chief Executive Officer or his
designee.  Employee shall perform all of
the duties generally associated with the position and such other duties as
shall be assigned from time to time by the President and Chief Executive
Officer or his designee, including those duties set forth on Exhibit A hereto.  Employee agrees to devote Employee’s full
business time, attention and best efforts exclusively to rendering the services
described herein and agrees that Employee will not engage in any other business
activity during the Term.

2.                                       Term

The
term of this Agreement (the “Term”) shall commence upon the Effective Date, and
terminate on June 21, 2008 (the “Termination Date”), unless renewed by a
subsequent written agreement of the parties. 
The Term may be sooner terminated by either party in accordance with
section 4 of this Agreement.

3.                                       Compensation;
Benefits

A.                                   The
Company shall pay Employee an initial salary of Three Hundred Twenty-Five
Thousand Dollars ($325,000) per year (“Base Compensation”).  The Company shall review said salary on an
annual basis (prior to or in connection with the close of its fiscal year) at
which time the Company shall determine in its sole discretion whether or not
said salary shall be increased and the timing thereof.  Said salary shall be payable in periodic
payments in accordance with the Company’s regular payroll practices.

B.                                     Employee
may also be eligible to participate in annual incentive compensation or other
bonus programs as determined by the Company in its sole discretion.

C.                                     During
the Term, Employee shall be entitled to participate in such employee benefit
plans and insurance programs offered by the Company, or which it may 

 

 

 

 

 

adopt from time to time, for its employees, in accordance with the
terms and conditions thereof.

4.                                       Termination

A.                                   Employee’s
employment hereunder may be terminated by the Company prior to the Termination
Date under the following circumstances:

(i)                                     upon
revocation or disapproval of the license required pursuant to the Nation-State
Gaming Compact between the Seneca Nation of Indians and the State of New York
(the “Compact”), or upon disapproval by the National Indian Gaming Commission
of the issuance of any license by the Nation pursuant to its own gaming
ordinances, if either such action renders it unlawful for Employee to perform
in the capacity set forth in this Agreement, or if any event renders it
unlawful for the Nation and/or the Company to continue to conduct casino gaming
on Nation Territory.  For purposes of
this Agreement, “Nation Territory” shall include current or future Nation
territory where the Company conducts or will conduct its gaming operations as
of the date Employee’s employment is terminated;

(ii)                                  upon
revocation or disapproval of such licenses for Employee as are required
pursuant to the Compact and/or by the Nation’s or the Company’s gaming
ordinances;

(iii)                               Employee
shall commit an act constituting “Cause,” which is defined to mean:

(a)                                  an
act of dishonesty by Employee intended to result in gain or personal enrichment
of Employee or others at the expense of the Company or any of its affiliates;

(b)                                 the
deliberate and intentional refusal by Employee (except by reason of disability)
to perform Employee’s duties hereunder;

(c)                                  acts
or omissions of Employee constituting gross negligence in the performance of
Employee’s duties hereunder; or

(d)                                 failure to
perform any material term or condition of this Agreement after written notice
thereof from Company and a reasonable opportunity to cure such failure (as
determined by Company and specified in the notice of breach).

(iv)                              Employee
shall die or the Company shall for any reason within the Company’s or the
Nation’s control permanently cease to conduct casino gaming on Nation
Territory; or

(v)                                 Employee
shall become unable to perform the duties and responsibilities set forth in
this Agreement for a period of 180 days in any 365 day period by reason of
long-term physical or mental disability.

 2
 

 

B.                                     If
Employee’s employment should be terminated under paragraph 4A above, then the
Company shall as soon as administratively feasible following termination pay
Employee (or Employee’s estate, if applicable) the Base Compensation earned through
the date Employee is terminated, whereupon the Company shall have no further
liability or obligation to Employee under this Agreement or otherwise.

C.                                     If
Employee’s employment should be terminated by the Company for any reason other
than those specified in paragraph 4A above (it being understood that a
purported termination for Cause which is contested by Employee and finally
determined not to have been proper shall be treated as a termination under this
paragraph 4C) or paragraph 4D below, then the Company shall: (i) as soon as
administratively feasible, pay Employee his or her Base Compensation earned,
but unpaid, through the date Employee is terminated, and (ii) as soon as
administratively feasible following the applicable revocation period set forth
in the general release of claims contemplated in paragraph 4E below and
provided Employee does not revoke the general release or breach any provision
in section 5 of this Agreement following Employee’s termination, in which case
all payments under this clause (ii) shall cease, continue to pay Employee his
or her Base Compensation in effect as of the date of termination for a period
equal to the lesser of six (6) months or the remainder of the Term, whereupon
the Company shall have no further liability or obligation to Employee under
this Agreement; provided, however, that Employee shall have a
duty to mitigate damages by seeking other employment.  If Employee shall obtain other employment,
perform consulting services or become entitled to unemployment benefits,
Employee shall immediately notify the Company in writing and the Company shall
have the right to offset on a dollar for dollar basis any amounts payable to
Employee under this clause (ii) by any amounts earned by Employee through other
employment, consulting activities or unemployment benefits.  Employee agrees to keep the Company informed
of whether Employee’s employment or consulting activities are on a full or
part-time basis, and to provide the Company with such other details as the
Company shall request.

D.                                    Employee
may terminate his or her employment for any reason upon sixty (60) days prior
written notice to the Company.  If
Employee terminates his or her employment pursuant to this section 4D, the
Company shall as soon as administratively feasible following termination pay
Employee the Base Compensation earned through the date of termination,
whereupon the Company shall have no further liability or obligation to Employee
under this Agreement or otherwise, including obligations to pay Employee post-termination
severance compensation.

E.                                      Employee
acknowledges and agrees that the payments set forth in this section 4
constitute liquidated damages for termination of Employee’s employment during
the Term and such liquidated damages shall be his only remedy with respect to
any claim, including, without limitation, breach of contact, he may have under
this Agreement and that prior to receiving any such payments under section 4
and as a material condition thereof, Employee shall sign and agree to be bound by
a general release of claims in favor of the Company and its affiliates related
to 

 3
 

 

Employee’s
employment (and termination of employment) with the Company and, if applicable,
any affiliates in substantially the form attached hereto as Exhibit B as
may be modified by the Company in good faith to reflect changes in law or its
employment practices.  Notwithstanding
any other provision of this Agreement to the contrary, Employee acknowledges
and agrees that other than any claim for the liquidated damages contemplated
hereunder, Employee waives any rights to be awarded any other damages with
respect to any claim Employee may have under this Agreement, including, without
limitation, compensatory or punitive damages.

5.                                       Restrictive
Covenants

For purposes of this section 5, the term “Company” shall include, in
addition to the Company, its affiliates and any of their respective
predecessors, successors, and assigns.

A.                                   Employee
acknowledges that:  (i) as a result of
Employee’s employment  with the Company,
Employee will obtain secret, proprietary and confidential information
concerning the business of the Company, 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 Company), accounts, financial data, know-how, computer
software and related documentation, trade secrets, processes, policies and/or
personnel, and other information relating to the Company (“Confidential
Information”); (ii) the Confidential Information has been developed and created
by the Company at substantial expense and the Confidential Information
constitutes valuable proprietary assets and the Company will suffer substantial
damage and irreparable harm which will be difficult to compute if, during the
term of the Agreement and thereafter, Employee should enter a Competitive
Business (as defined herein) in violation of the provisions of this Agreement;
(iii) the Company will suffer substantial damage which will be difficult to
compute if, during the Term or thereafter, Employee should solicit or interfere
with the Company’s employees or patrons or should divulge Confidential
Information relating to the business of the Company; (iv) the provisions of
this section 5 are reasonable and necessary for the protection of the business
of the Company; (v) the Company would not have hired or employed Employee
unless Employee signed this Agreement; and (vi) the provisions of this
Agreement will not preclude Employee 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 a 100 mile radius of Nation Territory, and any other business in which
the Company is then engaged as of the date of termination of this Agreement.

B.                                     Employee
acknowledges and agrees that the unauthorized disclosure or misuse of
Confidential Information will cause substantial damage to the Company.  Therefore, Employee agrees not to, at any
time, either during the Term or thereafter, divulge, use, publish or in any
other manner reveal, directly or indirectly, to any person, firm or corporation
any Confidential Information obtained or learned by Employee during the course
of Employee’s employment with the Company, with regard to the operational,
financial, business or other 

 4
 

 

affairs and
activities of the Company, their officers, directors or employees and the
entities with which they have business relationships, except (i) as may be
necessary to the performance of Employee’s duties with the Company, (ii) with
the Company’s express written consent, (iii) to the extent that any such
information is in the public domain other than as a result of Employee’s breach
of any of obligations hereunder, or (iv) where required to be disclosed by
court order, subpoena or other government process which is consistent with the
terms and conditions of paragraphs 15(f) and 15(g) of the Compact and, in such
event, Employee shall cooperate with the Company in attempting to keep such
information confidential.

C.                                     During
Employee’s employment with the Company and for one (1) year after Employee’s
termination of employment for any reason (the “Restricted Period”), Employee,
without the prior written permission of the Company, shall not, directly or
indirectly, (i) enter into the employ of or render any services to any  corporation, limited liability company,
entity, trust, group, company, partnership or individual, engaged in a
Competitive Business; or (ii) become associated with or interested in any
Competitive Business as an individual, partner, shareholder, member, creditor,
director, officer, principal, agent, employee, trustee, consultant, advisor or
in any other relationship or capacity. 
This paragraph 5C shall not prevent Employee from owning common stock in
a publicly traded corporation which owns or manages a casino provided Employee
does not take an active role in the ownership or management of such corporation
and Employee’s ownership interest represents less than 3% of the voting
securities and/or economic value of such corporation.

D.                                    By
executing this Agreement, Employee acknowledges that Employee understands that
the Company’s ability to operate its business depends upon its ability to
attract and retain skilled people and that the Company has and will continue to
invest substantial resources in training such individuals.  Therefore, during the Restricted Period,
Employee shall not, without the prior written permission of the Company,
directly or indirectly solicit, employ or retain, or have or cause any other
person or entity to solicit, employ or retain, any person who is employed or is
providing personal services to the Company.

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

 5
 

 

F.                                      Employee
acknowledges and agrees during Employee’s employment and for all time
thereafter that Employee will not defame or publicly criticize the services,
business, integrity, veracity or personal or professional reputation of the
Company and its officers, directors, employees, affiliates, or agents thereof
in either a professional or personal manner. 
The Company acknowledges and agrees that during Employee’s employment
and for all time thereafter, the Company will not defame or publicly criticize
Employee either in a professional or personal manner, except as may be
necessary to defend the Company from comments made by or on behalf of Employee.

G.                                     If
Employee commits a breach, or threatens to commit a breach, of any of the
provisions of this section 5 of the Agreement, the Company shall have the right
and remedy to have the provisions specifically enforced by any court or other
body having jurisdiction, it being acknowledged and agreed by Employee that the
services being rendered hereunder to the Company are of a special, unique and
extraordinary character and that any such breach or threatened breach will
cause irreparable injury to the Company and that money damages will not provide
an adequate remedy to the Company.  Such
right and remedy shall be in addition to, and not in lieu of, any other rights
and remedies available to the Company at law or in equity.  Accordingly, Employee consents to the
issuance of an injunction, whether preliminary or permanent, consistent with
the terms of this Agreement.

H.                                    If,
at any time, the provisions of this Agreement shall be determined to be invalid
or unenforceable under any applicable law, by reason of being vague or
unreasonable as to area, duration or scope of activity, this Agreement shall be
considered divisible and shall become and be immediately amended to only such
area, duration and scope of activity as shall be determined to be reasonable
and enforceable by the court or other body having jurisdiction over the matter
and Employee and the Company agree that this Agreement as so amended shall be
valid and binding as though any invalid or unenforceable provision had not been
included herein.

6.                                       Miscellaneous

A.                                   Employee
represents to Company that there are no restrictions or agreements to which
Employee is a party which would be violated by Employee’s execution of this
Agreement and Employee’s employment hereunder.

B.                                     This
Agreement and all questions relating to its validity, interpretation,
performance and enforcement shall be governed by and construed in accordance
with the laws of the Seneca Nation of Indians.

C.                                     No
amendment or waiver of any provision of this Agreement shall be effective
unless in writing signed by both parties.

D.                                    This
Agreement contains the entire agreement between the parties and may not be
amended or modified except by a writing signed by the party sought to be
charged.

 6
 

 

E.                                      The
invalidity or unenforceability of any provision or provisions of this Agreement
shall not affect the validity or enforceability of any other provision of this
Agreement, which shall remain in full force and effect.

F.                                      Except
as otherwise provided herein, this Agreement sets forth the entire agreement of
the parties hereto in respect of the subject matter contained herein and
supersedes all prior agreements, promises, covenants, arrangements,
communications, representations or warranties, whether oral or written, by any
officer, employee or representative of any party hereto in respect of such
subject matter.  Except as otherwise
provided herein, any prior agreement of the parties hereto in respect of the
subject matter contained herein is hereby terminated and cancelled.

G.                                     All
payments hereunder shall be subject to any required withholding of Federal,
state and local taxes pursuant to any applicable law or regulation.

H.                                    The
section headings in this Agreement are for convenience of reference only, and
they form no part of this Agreement and shall not affect its interpretation.

I.                                         This
Agreement may be executed in any number of counterparts, each of which shall be
deemed to be an original, but all of which, when taken together, shall be
deemed to constitute one and the same instrument.

7.                                       Assignment

This
Agreement may not be assigned by either party unless consented to by the other
party in writing.

8.                                       Compliance
with Section 409A of the Code

This
Agreement is intended to comply with Section 409A of the Internal Revenue Code
of 1986, as amended (the “Code”), and shall be construed and interpreted in
accordance with such intent.  Employee
acknowledges and agrees that the Company may revise any provision in this Agreement
(including, without limitation, provisions concerning the timing of any
payments described hereunder) to the extent necessary to comply with Section
409A of the Code and any regulations and/or guidance promulgated thereunder.

[Signature Page Follows]

 7
 

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first written above.

	
  SENECA GAMING CORPORATION

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By: 

  	
   

  	
  /s/ John Pasqualoni

  	
  Date:

  	
   

  
	
   

  	
   

  	
  John Pasqualoni

  	
   

  	
   

  
	
   

  	
   

  	
  President &
  CEO

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EMPLOYEE

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Patrick M. Fox

  	
  Date

  	
   

  
	
   

  	
   

  	
  Patrick M. Fox

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

 8
 

 

EXECUTION COPY

Exhibit A

Description of Duties

JOB SUMMARY:

The Vice President of Finance and CFO is directly responsible for the
efficient and effective operations of the Finance, Purchasing and Warehouse
departments and their employees. Responsible for timely issuance of all
financial reports, including Securities and Exchange Commission (SEC) filings
and compliance with Sarbanes Oxley requirements. The Vice President of Finance
and CFO assumes direct responsibility for ensuring that these departments are
operating within the guidelines of the Seneca Gaming Corporation’s policies and
procedures, Internal Control Standards and objectives.  Oversees all financial and operational
accounting functions through his/her direct reports.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES include the following. Other duties may be
assigned:

1.              Creates, develops and implements
an effective strategy of departmental organization and
following management objectives.

2.               Develops departmental
business plans to include performance and profit objectives for short and
long-term goals.

3.               Establishes, monitors, and reviews all
departmental budgets on a regular basis. 
Ensure departments are meeting or exceeding established financial and
performance goals.  Provides
recommendations to improve financial results.

4.               Reviews activity reports and financial
statements to determine progress and status in attaining objectives and
proposes revisions to plans in accordance with current conditions.

5.               Ensures effective recruitment, hiring,
training, recognition, coaching, terminations, and other personnel related
matters are being handled appropriately throughout all departments.

6.               Responsible for the development of departmental
procedures and compliance with internal controls to ensure proper financial
operations, including compliance with Sarbanes Oxley requirements of the SEC.

7.               Oversees and directs budgeting, income audit,
financial analysis, financial reporting, general accounting, purchasing, and
risk management areas.

8.               Responsible for the timely issuance of
internal financial reports, and all financial filings with the SEC, including,
10-K, 10-Qs and, when appropriate 8-Ks.

9.               Coordinates obtaining all internal officer
certification for SEC filings.

10.         Ensures compliance with of the debt covenants of the Company’s debt.

11.         In conjunction with the COO maintains relationships with the Company’s
investors and analysts ensuring timely and accurate supply of financial data in
compliance with all confidential guidelines of the Company and the SEC.

12.         Informs appropriate management of the Company’s and its subsidiaries
financial position, and issues financial and operating reports.

13.         Coordinates the establishment of budget programs.

14.         Oversees and directs the preparation and issuance of the Nation Gaming
Operations regulatory and required reports, including SEC.

15.         Through staff, provides analysis of marketing promotions and events.

16.         Communicates regularly with subordinate managers regarding operational,
business policy and staffing issues.

17.         Evaluates management performance and provides feedback in order to
further develop management team.

 9
 

 

18.         Implements and monitors controls designed to assure full compliance
with state, Federal, and Nation regulatory requirements.

19.         Provides exceptional customer service to all patrons and communicates
in a pleasant, friendly, and professional manner at all times.  Maintains a professional work environment
with supervisors and staff.

20.         Attends all necessary training meetings.

21.         Member of SARC, Credit and Complimentary Committees.

22.         Duties, responsibilities, requirements and expectations pertaining to
this job are subject to change as needed. 
Hours are determined by 24-hour schedule.

23.

 10
 

 

EXECUTION COPY

Exhibit B

Form of Release

See Attached.

 11
 

 

 

MUTUAL RELEASE OF ALL CLAIMS

Release of Claims by Executive.

It
is understood and agreed by the Seneca Gaming Corporation (the “Company”), a
governmental instrumentality of the Seneca Nation of Indians of New York, and
___________________ (“Executive”), that in consideration of the mutual promises
and covenants contained in this general release of all claims (the “Release
Agreement”), Executive, on behalf of Executive and Executive’s agents,
representatives, administrators, receivers, trustees, estates, heirs, devisees,
assignees, legal representatives, and attorneys, past or present (as the case
may be), hereby irrevocably and unconditionally releases, discharges, and
acquits all the Released Parties (as defined below) from any and all claims,
promises, demands, liabilities, contracts, debts, losses, damages, attorneys’
fees and causes of action of every kind and nature, known and unknown, up to
and including the Effective Date (as defined below), provided, however, that
any claims arising after the Effective Date from the then present effect of
acts or conduct occurring on or before the Effective Date shall be deemed
released under this agreement, including but not limited to causes of action,
claims or rights arising out of, or which might be considered to arise out of
or to be connected in any way with (i) Executive’s employment or service with
the Company and, to the extent applicable, a Released Party, or the termination
thereof; (ii) the Employment Agreement dated as of _______________ between
the Company and Executive, or the termination thereof; (iii) any treatment of
Executive by any of the Released Parties, which shall include, without
limitation, any treatment or decisions with respect to hiring, placement,
promotion, discipline, work hours, demotion, transfer, termination,
compensation, performance review, or training; (iv) any statements or alleged
statements by the Company or any of the Released Parties regarding Executive,
whether oral or in writing; (v) any damages or injury that Executive may have
suffered, including without limitation, emotional or physical injury,
compensatory damages, or lost wages; (vi) employment discrimination, which
shall include, without limitation, any individual or class claims of
discrimination on the basis of age, disability, sex, race, religion, national
origin, citizenship status, marital status, sexual preference, or any other
basis whatsoever; or (vii) all such other claims that Executive could assert
against any, some, or all of the Released Parties in any forum, whether such
claims are known or unknown, accrued or unaccrued, liquidated or contingent,
direct or indirect.

Said
release shall be construed as broadly as possible and shall also extend to
release the Released Parties, without limitation, from any and all claims that
Executive has alleged or could have alleged, whether known or unknown, accrued
or unaccrued, against any Released Party for violation(s) of any of the
following, to the extent applicable:  the
National Labor Relations Act, as amended; Title VII of the Civil Rights Act of
1964, as amended; the Age Discrimination in Employment Act; the Civil Rights
Act of 1991; Sections 1981-1988 of Title 42 of the United States Code; the
Equal Pay Act; the Employee Retirement Income Security Act of 1974, as amended;
the Immigration Reform Control Act, as amended; the Americans with Disabilities
Act of 1990, as amended; the Fair Labor Standards Act, as amended; the
Occupational Safety and Health Act, as amended; the New York Human Rights Law;
the New York City Human Rights 

 12
 

 

Law; the New York Labor Law;
the New York Whistleblower Protection Law; the New York Wage and Hour Laws; the
New York City Administrative Code; any other tribal, federal, state, or local
law or ordinance; any public policy, whistleblower, contract, tort, or common
law; and any demand for costs or litigation expenses, including but not limited
to attorneys’ fees.

The
term “Released Parties” or “Released Party” as used herein shall mean and
include: the Company and the Company’s parents, subsidiaries, affiliates, and
all of their predecessors and successors (collectively, the “Released Entities”),
and with respect to each such Released Entity, all of its former, current, and
future officers, directors, agents, representatives, employees, servants,
owners, shareholders, partners, joint venturers, attorneys, insurers,
administrators, and fiduciaries, and any other persons acting by, through,
under, or in concert with any of the persons or entities listed herein.

Pursuant
to the Older Workers Benefit Protection Act of 1990, Executive understands and
acknowledges that by executing this Release Agreement and releasing all claims
against any of the Released Parties, Executive has waived any and all rights or
claims that Executive has or could have against any Released Party under the
Age Discrimination in Employment Act, which includes any claim that any
Released Party discriminated against Executive on account of Executive’s age.  Executive also acknowledges the following:

(a)                                  The Company, by
this written Release Agreement, has advised Executive to consult with an
attorney prior to executing this Release Agreement;

(b)                                 This Release
Agreement does not include claims arising after the Effective Date, provided,
however, that any claims arising after the Effective Date from the then present
effect of acts or conduct occurring on or before the Effective Date shall be
deemed released under this Release Agreement;

(c)                                  The Company has
provided Executive the opportunity to review and consider this Release
Agreement for twenty-one (21) days from the date Executive receives this
Release Agreement.  At Executive’s option
and sole discretion, Executive may waive the twenty-one (21) day review period
and execute this Release Agreement before the expiration of twenty-one (21)
days.  If Executive elects to waive the
twenty-one (21) day review period, Executive acknowledges and admits that
Executive was given a reasonable period of time within which to consider this
Release Agreement and Executive’s waiver is made freely and voluntarily,
without duress or any coercion by any other person; and

(d)                                 Executive may
revoke this Release Agreement within a period of seven (7) days after execution
of the agreement.  Executive agrees that
any such revocation is not effective unless it is made in writing and delivered
to the Company, to the attention of the General Counsel of the Seneca Gaming
Corporation, 310 Fourth Street, Niagara Falls, New York (Seneca Nation
Territory) 14303, by the end of the seventh (7th) calendar day.  Under any such valid revocation, Executive
shall not be entitled to any benefits under this Release Agreement and this
Release Agreement shall become null and

 13
 

 

void.  This Release Agreement becomes effective on
the eighth (8th) calendar day after it is executed by both parties (the “Effective
Date”).

Executive
confirms that no claim, charge, or complaint against any of the Released
Parties, brought by Executive, exists before any federal, state, or local court
or administrative agency.  Executive
hereby waives Executive’s right to accept any relief or recovery, including
costs and attorney’s fees, from any charge or complaint before any federal,
state, or local court or administrative agency against any of the Released
Parties, except as such waiver is prohibited by law.

Executive
agrees that Executive will not, unless otherwise prohibited by law, at any time
hereafter, participate in as a party, or permit to be filed by any other person
on  Executive’s behalf or as a member of
any alleged class of persons, any action or proceeding of any kind, against the
Released Parties or any past, present or future employee benefit and/or pension
plans or funds of the Released Entities with respect to any act, omission,
transaction or occurrence up to and including the date of the execution of this
Release Agreement.  Executive further
agrees that Executive will not seek or accept any award or settlement from any
source or proceeding with respect to any claim or right covered by this
paragraph or by the Release Agreement and that this Release Agreement shall act
as a bar to recovery in any such proceedings.

Executive
agrees that neither this Release Agreement nor the furnishing of the
consideration for the general release set forth in this Release Agreement shall
be deemed or construed at any time for any purpose as an admission by the
Released Parties of any liability or unlawful conduct of any kind.  Executive further acknowledges and agrees
that the consideration provided for herein is adequate consideration for
Executive’s obligations under this Release Agreement.

Release of Claims by Company.

Subject
to the provisions of this Release Agreement and subject to Executive not
exercising Executive’s revocation rights hereunder, the Company hereby
irrevocably and unconditionally releases, waives and fully and forever
discharges Executive, from and against any and all claims, liabilities,
obligations, covenants, rights, demands and damages of any nature whatsoever,
whether known or unknown, anticipated or unanticipated, arising from, by reason
of or in any way related to any transaction, event or circumstance which
occurred or existed prior to and including the date of this Release Agreement
arising out of or in any way related to Executive’s employment with the Company
and, to the extent applicable, a Released Party, or the termination
thereof.  Notwithstanding the provisions
of this paragraph, nothing in this waiver or release shall be construed to constitute
any release or waiver by the Company of its rights or claims against Executive
arising out of any intentional or willful misconduct or fraudulent or criminal
acts engaged in by Executive while in the course of Executive’s employment or
service.

Miscellaneous.

This
Agreement and all questions relating to its validity, interpretation,
performance and enforcement shall be governed by and construed in accordance
with the laws of the Seneca Nation of Indians. 
If any provision of the Release Agreement other than the general release
set 

 14
 

 

forth above, is declared
legally or factually invalid or unenforceable by any court of competent
jurisdiction and if such provision cannot be modified to be enforceable to any
extent or in any application, then such provision immediately shall become null
and void, leaving the remainder of this Release Agreement in full force and
effect.  If any portion of the general
release set forth in this Release Agreement is declared to be unenforceable by
a court of competent jurisdiction in any action in which Executive participates
or joins, Executive agrees that all consideration paid to Executive under this
Release Agreement shall be offset against any monies that Executive may receive
in connection with any such action.

This
Release Agreement sets forth the entire agreement between Executive and the
Released Parties and it supersedes any and all prior agreements or
understandings with respect to the subject matter hereof, whether written or
oral, between the parties, except as otherwise specified in this Release
Agreement.  Executive acknowledges that
Executive has not relied on any representations, promises, or agreements of any
kind made to her in connection with Executive’s decision to sign this Release
Agreement, except for those set forth in this Release Agreement.

This
Release Agreement may not be amended except by a written agreement signed by
both parties, which specifically refers to this Release Agreement.

EXECUTIVE
ACKNOWLEDGES THAT EXECUTIVE CAREFULLY HAS READ THIS RELEASE AGREEMENT; THAT
EXECUTIVE HAS HAD THE OPPORTUNITY TO THOROUGHLY DISCUSS ITS TERMS WITH COUNSEL
OF EXECUTIVE’S CHOOSING; THAT EXECUTIVE FULLY UNDERSTANDS ITS TERMS AND ITS
FINAL AND BINDING EFFECT; THAT THE ONLY PROMISES MADE TO SIGN THIS RELEASE
AGREEMENT ARE THOSE STATED AND CONTAINED IN THIS RELEASE AGREEMENT; AND THAT
EXECUTIVE IS SIGNING THIS RELEASE AGREEMENT KNOWINGLY AND VOLUNTARILY.  EXECUTIVE STATES THAT EXECUTIVE IS IN GOOD
HEALTH AND IS FULLY COMPETENT TO MANAGE EXECUTIVE’S BUSINESS AFFAIRS AND
UNDERSTANDS THAT EXECUTIVE MAY BE WAIVING SIGNIFICANT LEGAL RIGHTS BY SIGNING
THIS RELEASE AGREEMENT.

[Signature
Page Follows]

 15
 

 

IN
WITNESS WHEREOF, Executive has executed this Release Agreement as of the date
set forth below.

	
  

  	
   

  	
  EXECUTIVE

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Date:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sworn to and
  subscribed before me

  	
   

  	
   

  	
   

  	
   

  
	
  this ___ day of
  _____________, 20___.

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Notary Public

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  ACCEPTED AND
  ACKNOWLEDGED BY

  
	
   

  	
   

  	
   

  	
   

  	
  SENECA GAMING
  CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  	
  Date:

  

 

 

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Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]