Document:

Exhibit 10.21

 

AMENDMENT
TO EMPLOYMENT AGREEMENT

 

This AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”), made this
8th day of September, 2008, by and between MTR Gaming Group, Inc., a
Delaware corporation having its principal office at State Route 2 South,
Chester, West Virginia 26034, together with all of its subsidiaries whether now
existing or hereafter formed or acquired (collectively, the “Company”), and John W. Bittner, Jr., 5487 Beverly Court, Bethel Park, PA 15102 (“Executive”).

 

WHEREAS, the Executive has been employed by the Company in the capacity
of Executive Vice President of Finance &
Accounting of the Company pursuant
to an Employment Agreement between the Company and the Executive dated August 15, 2007, as amended on May 15, 2008
(the “Agreement”); and

 

WHEREAS, the
Company has formed a Succession Committee to identify potentially qualified
individuals to succeed Mr. Edson R. Arneault as President and CEO of the
Company as well as to deal with any other succession issues that may arise from
time to time; and

 

WHEREAS, the
Succession Committee, in consultation with the full Board of Directors of the
Company, has determined it would be in the best interests of the Company and
beneficial to the implementation of the Company’s succession plan, to amend the
Agreement by extending the term thereof; and

 

WHEREAS, the
Executive and the Company desire to amend the terms of the Agreement.

 

Now,
therefore, the parties, in reliance upon the mutual promises and covenants
herein contained, do hereby agree as follows, effective as of the date hereof:

 

1.             Amendment to Section 1 of
the Agreement.  Section 1 of the
Agreement is hereby amended and restated in its entirety as follows:

 

“The Company hereby agrees to employ Executive, and Executive agrees to
serve the Company, in the capacity indicated above, for the period commencing
on January 1, 2007 (the “Employment Date”) and ending on the earlier of (A) December 31,
2009, or (B) the date which is, or would be, the one-year anniversary of
the date upon which a new CEO, who shall be Mr. Arneault’s successor,
commences his employment with the Company (such period, subject to earlier
termination  as provided herein, being
referred to as the “Period of Employment”).”

 

 

2.             Miscellaneous.

 

This Amendment
is further governed by the following provisions:

 

a.             Parties In Interest.  This Amendment shall be binding upon and
inure to the benefit of Executive, and it shall be binding upon and inure to
the benefit of the Company and any corporation succeeding to all or substantially
all of the business and assets of the Company by merger, consolidation,
purchase of assets or otherwise.

 

b.             Arbitration.  Any disputes arising under the terms of this
Amendment shall be settled by binding arbitration between the parties in Hancock
County, West Virginia in a proceeding held under the rules of the American
Arbitration Association.  In such
proceeding, each party shall choose one arbitrator and the two so chosen shall
choose a third arbitrator.  The vote of
two of the arbitrators shall be sufficient to determine an award.

 

c.             Governing Law.  This Amendment shall be governed by and
construed in accordance with the laws of the State of Delaware without giving
effect to the choice of law or conflicts of law rules and laws of such
jurisdiction.

 

d.             Severability.  In the event that any term or condition
contained in this Amendment shall for any reason be held by a court of
competent jurisdiction to be invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other term
or condition of this Amendment, but this Amendment shall be construed as if
such invalid or illegal or unenforceable term or condition had never been
contained herein.

 

e.             No Other Changes. This
Amendment is not intended to make any other changes to the Agreement.

 

IN WITNESS
WHEREOF, the parties hereto have executed this Amendment as of the day and year
first above written.

 

	
   

  	
   

  	
   

  	
   MTR GAMING GROUP, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  \s\ John W. Bittner, Jr.

  	
   

  	
  By:

  	
  \s\ Edson R. Arneault

  
	
  John W. Bittner, Jr.

  	
   

  	
   

  	
   Name:

  
	
   

  	
   

  	
   

  	
   Title:

  
					

 

2Exhibit 10.23

 

AMENDMENT
TO EMPLOYMENT AGREEMENT

 

This AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”), made this
8th day of September, 2008, by and between MTR Gaming Group, Inc./Presque
Isle Downs, Inc., having an address at State Route 2 South, Chester, West
Virginia 26034 (“MTR/PIDI” or the “Company”), and Patrick J. Arneault, 2525 Rolling
Acres, New Cumberland, WV 26047 (“Executive”).

 

WHEREAS, the
Executive has been employed by the Company in the capacity of Executive Vice President of Development of MTR Gaming Group, Inc. and Presque Isle Downs, Inc.
pursuant to an Employment Agreement between the Company and the Executive dated
August 15, 2007 (the “Agreement”);
and

 

WHEREAS, the
Company has formed a Succession Committee to identify potentially qualified
individuals to succeed Mr. Edson R. Arneault as President and CEO of the
Company as well as to deal with any other succession issues that may arise from
time to time; and

 

WHEREAS, the
Succession Committee, in consultation with the full Board of Directors of the
Company, has determined it would be in the best interests of the Company and
beneficial to the implementation of the Company’s succession plan, to amend the
Agreement by extending the term thereof; and

 

WHEREAS, the
Executive and the Company desire to amend the terms of the Agreement.

 

Now,
therefore, the parties, in reliance upon the mutual promises and covenants
herein contained, do hereby agree as follows, effective as of the date hereof:

 

1.             Amendment to Section 1 of
the Agreement.  Section 1 of the
Agreement is hereby amended and restated in its entirety as follows:

 

“The Company hereby agrees to employ Executive, and Executive agrees to
serve the Company, in the capacity indicated above, for the period commencing
on January 1, 2007 (the “Employment Date”) and ending on the earlier of (A) December 31,
2009, or (B) the date which is, or would be, the one-year anniversary of
the date upon which a new CEO, who shall be Mr. Arneault’s successor,
commences his employment with the Company (such period, subject to earlier
termination  as provided herein, being
referred to as the “Period of Employment”).”

 

2.            Miscellaneous.

 

This Amendment
is further governed by the following provisions:

 

a.             Parties In Interest.  This Amendment shall be binding upon and
inure to the benefit of Executive, and it shall be binding upon and inure to
the benefit of the Company 

 

 

and any corporation succeeding to all or substantially all of the
business and assets of the Company by merger, consolidation, purchase of assets
or otherwise.

 

b.             Arbitration.  Any disputes arising under the terms of this
Amendment shall be settled by binding arbitration between the parties in
Hancock County, West Virginia in a proceeding held under the rules of the
American Arbitration Association.  In
such proceeding, each party shall choose one arbitrator and the two so chosen
shall choose a third arbitrator.  The
vote of two of the arbitrators shall be sufficient to determine an award.

 

c.             Governing Law.  This Amendment shall be governed by and
construed in accordance with the laws of the State of Delaware without giving
effect to the choice of law or conflicts of law rules and laws of such
jurisdiction.

 

d.             Severability.  In the event that any term or condition
contained in this Amendment shall for any reason be held by a court of
competent jurisdiction to be invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other term
or condition of this Amendment, but this Amendment shall be construed as if
such invalid or illegal or unenforceable term or condition had never been
contained herein.

 

e.             No Other Changes. This
Amendment is not intended to make any other changes to the Agreement.

 

IN WITNESS
WHEREOF, the parties hereto have executed this Amendment as of the day and year
first above written.

 

	
   

  	
   

  	
   

  	
   MTR GAMING GROUP, INC./

   PRESQUE ISLE DOWNS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  \s\ Patrick J. Arneault

  	
   

  	
  By:

  	
  \s\ Edson R. Arneault

  
	
  Patrick J. Arneault

  	
   

  	
   

  	
   Name:

  
	
   

  	
   

  	
   

  	
   Title:

  
					

 

2Exhibit 10.31

 

EMPLOYMENT AGREEMENT AMENDMENT

 

THIS EMPLOYMENT
AGREEMENT AMENDMENT (the “Amendment”) is made this 16th day of October, 2008,
by and between MTR Gaming Group, Inc, (“MTR” or the “Company”), and David
Hughes (“Executive”).

 

WHEREAS, MTR
and Executive entered into an Employment Agreement on May 15, 2008 (the “Agreement”).

 

WHEREAS, the
parties desire to amend the Agreement in the form of this Amendment.

 

NOW,
THEREFORE, the undersigned, in consideration of the promises, covenants and
agreements contained herein, does hereby agree as follows:

 

1.             Amendments.

 

a.             Subsection (b) of Section 3
of the Agreement is hereby amended in its entirety to read as follows:

 

(b)           Discretionary Cash Bonus.
Executive shall be entitled to periodic cash bonuses of a minimum of 25% of
base salary, payable on January 1 of each year of the Term with the
ability to earn additional discretionary bonuses at the sole discretion of the
Company’s Compensation Committee.

 

b.             Subsection (c) of Section 4
of the Agreement is hereby amended in its entirety to read as follows:

 

(c)           In the event Executive is discharged
by the Company other than for the reasons set forth in Section 4(b) above,
Executive shall have no further obligations or duties under this Agreement
(except as set forth in Section 5). In the event of termination of the
Period of Employment pursuant to the preceding sentence, unless such
termination is in connection with a change in control of the Company or a sale
of all or substantially all of the assets of MTR (individually or collectively,
a “Change in Control”) (in which case Executive’s severance will be as set
forth below in this subsection (c)), in consideration for Executive or his
beneficiaries releasing the Company from any claims, damages or causes of
action, the Company shall continue to pay Executive the entire compensation
otherwise payable to him/her under the provisions of Section 3 hereof for
the otherwise remaining Period of Employment but not less than one year of base
pay salary as defined in Section 3(a) without any duty on the part of
Executive to mitigate such payments; provided, however, that if Executive
should die prior to the end of such period, the provisions of Section 4(b) hereof
shall be applicable as though Executive’s employment hereunder had not 

 

 

been so
terminated. In the event of a Change in Control, then the Company shall pay
Executive severance in an amount of two years of base salary as defined in Section 3(a),
without any duty on the part of the Executive to mitigate such payments, in
consideration for a mutual release from any further obligations of either party
hereunder. The payment for Change in Control would be payable in two equal
installments with the first installment paid upon an executed agreement
resulting in a change in control of MTR and the second installment paid at or
prior to closing. If the new CEO of MTR, Robert Griffin, ceases to serve as CEO
of MTR, Executive’s reporting line of authority is changed such that Executive
no longer reports directly to the CEO or Executive’s level of authority is
materially diminished, then Executive shall have the right to notify the Company’s
Board of Directors of such and if such is not cured within ten (l0) business
days, Executive, upon 90 days’ written notice (which notice the Company may
waive or reduce at its sole discretion), shall have the right to resign from
his employment with the Company, thereby terminating the Agreement and shall be
immediately entitled to severance amounting to one times his base salary as
described in Section 3(a) of the Agreement, provided Executive or his
beneficiaries release the Company from any claims, damages or causes of action.
In the event of such resignation, MTR shall have no further obligation to
Executive.

 

2.             Binding Effect.
This Amendment shall be binding upon, and shall inure to the benefit of, the
parties hereto and any other party to the Agreement and MTR’s respective
successors and assigns.

 

3.             Agreement in
Effect. Except as hereby amended, the Agreement shall remain in full force and
effect.

 

IN WITNESS
WHEREOF, the undersigned has caused this Amendment to be fully executed as of
the day and year first above written.

 

	
   

  	
  MTR Gaming
  Group, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  \s\ D. Duffy

  
	
   

  	
  Its: 

  	
  Director –
  Chairman 

  Compensation Committee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  \s\ David
  Hughes

  
	
   

  	
  David Hughes

  

 

2

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