Document:

Exhibit 10.17

Exhibit 10.17

FIRST AMENDMENT TO

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

THIS FIRST AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (“Amendment”) is made
effective as of the 18th day of December, 2009, by and between PINNACLE ENTERTAINMENT,
INC., a Delaware corporation (the “Company”), and CLIFFORD D. KORTMAN, an individual (“Executive”),
with respect to the following facts and circumstances:

RECITALS

The Company and Executive entered into an Amended and Restated Employment Agreement effective
December 22, 2008 (the “Agreement”) with Executive having the title Senior Vice President —
Construction/Development.

Effective December 10, 2009, the Board of Directors of the Company elected the Executive as
Executive Vice President of Construction and Development.

The Company and Executive desire to amend the Agreement to reflect Executive’s current title
and to make certain conforming changes.

NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements set forth
herein, the parties hereto agree as follows:

AMENDMENTS

1. Article 1, Section 1.1 of the Agreement (Employment) is hereby deleted in its entirety and
replaced with the following new Article 1, Section 1.1:

“1.1 Employment. The Company agrees to engage Executive in the capacity as
Executive Vice President of Construction and Development, and as President of the Company’s
subsidiary, Pinnacle Design & Construction, LLC, and Executive hereby accepts such
engagement by the Company upon the terms and conditions specified below.”

 

 

 

2. Article 2, Section 2.1 of the Agreement (Duties) is hereby deleted in its entirety and
replaced with the following new Article 2, Section 2.1:

“2.1 Duties. Executive shall perform all the duties and obligations generally
associated with the positions of Executive Vice President of Construction and Development,
and as President of Pinnacle Design & Construction, LLC, subject to the control and
supervision of the Company’s Chief Executive Officer (the “Chief Executive Officer”), and
such other executive duties consistent with the foregoing as may be assigned to him from
time to time by the Chief Executive Officer. Executive shall perform the services
contemplated herein faithfully, diligently, to the best of his
ability and in the best interests of the Company. Executive shall at all times perform
such services in compliance with, and to the extent of his authority, shall to the best of
his ability cause the Company to be in compliance with, any and all laws, rules and
regulations applicable to the Company of which Executive is aware. Executive may rely on
the Company’s inside counsel and outside lawyers in connection with such matters.
Executive shall, at all times during the Term, in all material respects adhere to and obey
any and all written internal rules and regulations governing the conduct of the Company’s
employees, as established or modified from time to time; provided, however, in the event of
any conflict between the provisions of this Agreement and any such rules or regulations,
the provisions of this Agreement shall control.”

3. Except as modified herein, all other terms of the Agreement shall remain in full force and
effect. In the event of a conflict between the terms of the Agreement and this Amendment, the
terms of this Amendment shall apply. No modification may be made to the Agreement or this
Amendment except in writing and signed by both the Company and Executive.

[SIGNATURE APPEAR ON THE FOLLOWING PAGE]

 

- 2 -

 

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

	 	 	 	 	 	 	 
	EXECUTIVE	 	PINNACLE ENTERTAINMENT, INC.	 	 
	 
	 	 	 	 	 	 
	/s/ Clifford D. Kortman
 

Clifford D. Kortman

	 	By:
	 	/s/ John A. Godfrey
 

John A. Godfrey, Executive Vice President,
	 	 
	 

	 	 	 	Secretary and General Counsel	 	 

 

- 3 -Exhibit 10.48

Exhibit 10.48

Summary of Compensatory Arrangement between Pinnacle Entertainment, Inc. and John V. Giovenco

John V. Giovenco shall be entitled to receive $75,000 per month as compensation for his
service as Interim Chief Executive Officer of Pinnacle Entertainment, Inc. (the “Company”),
retroactive to November 7, 2009. In addition, Mr. Giovenco received fully vested options on
November 24, 2009 and February 8, 2010, covering 50,000 shares of the Company’s common stock for
each grant. The exercise price for each option was the closing price of the Company’s common stock
on the date of grant. The options will be exercisable until one year following Mr. Giovenco’s
cessation of service as a director for any reason, but in no event shall the options be exercisable
more than ten years from the date of grant. At the end of Mr. Giovenco’s term as Interim Chief
Executive Officer, Mr. Giovenco shall be eligible to receive a discretionary bonus as determined by
the Board of Directors of the Company.Exhibit 10.54

Exhibit 10.54

FORM OF AMENDMENT TO STOCK OPTION AGREEMENTS FOR DIRECTORS

This Amendment is made as of
 _________ 

, 20
 _____ 

by and between Pinnacle Entertainment, Inc.,
a Delaware corporation (the “Company”) and
 _____________ 

(“Director”), with reference to the
following facts:

A. The Company has granted stock options to Director under one or more stock option agreements
to compensate him for his service on the Company’s Board of Directors.

B. The Company has determined that it is in its best interests to ensure that, in the event
that Director ceases to be a member of the Company’s Board of Directors, he will have an adequate
opportunity to exercise his stock options.

NOW, THEREFORE, the Company and Director hereby agree as follows:

1. Each stock option agreement between the Company and Director which is currently in force is
hereby amended so that, in the event that Director ceases for any reason to be a member of the
Company’s Board of Directors, Director may exercise each of his vested stock options until the
expiration of one year from the date Director ceased to be a member of the Company’s Board of
Directors, or, if longer, the applicable period specified in the stock option agreement governing
such stock option for exercisability of such stock option following the date on which Director
ceases to be a member of the Company’s Board of Directors; provided, however, that in no event
shall a stock option be exercisable more than ten years from the date such stock option was
granted.

2. In all other respects, the terms and provisions of each stock option agreement between the
Company and Director are hereby ratified and declared to continue in full force and effect.

IN WITNESS WHEREOF, this Amendment has been executed by the Company and Director as of the
date first above written.

	 	 	 	 	 
	 	PINNACLE ENTERTAINMENT, INC.

 	 
	 	By:  	 	 
	 	 	DIRECTORExhibit 10.55

Exhibit 10.55

FORM OF AMENDMENT TO STOCK OPTION AGREEMENTS

AND EMPLOYMENT AGREEMENT FOR EXECUTIVE OFFICERS

This Amendment is made as of
 ____________ 

, 20
 _____ 

by and between Pinnacle Entertainment, Inc., a
Delaware corporation (the “Company”) and
 ________________ 

(“Executive”), with reference to the
following facts:

A. The Company employs Executive, and, to compensate Executive for his services, has granted
stock options to Executive under one or more stock option agreements.

B. The Company believes that it is in its best interests to ensure that Executive will have
ample opportunity to exercise his stock options should his employment be terminated without Cause
or should he resign for Good Reason.

NOW, THEREFORE, the Company and Executive hereby agree as follows:

1. Each stock option agreement currently in force between the Company and Executive, and the
Employment Agreement currently in force between the Company and Executive, are hereby amended so
that, in the event that the Company terminates Executive’s employment without “Cause” or that
Executive terminates his employment with the Company for “Good Reason,” Executive may exercise each
of his vested stock options until the expiration of the earlier of (a) ten years from the date such
stock option was granted, or (b) one year from the date that Company terminated Executive’s
employment without “Cause” or Executive terminated his employment with the Company for “Good
Reason.” The terms “Cause” and “Good Reason” shall be as defined in Executive’s Employment
Agreement with the Company.

2. In all other respects, the terms and provisions of each stock option agreement between the
Company and Executive, and of Executive’s current Employment Agreement with the Company, are hereby
ratified and declared to continue in full force and effect.

IN WITNESS WHEREOF, the Company and Executive have executed this Amendment as of the date
first above written.

	 	 	 	 	 
	 	PINNACLE ENTERTAINMENT, INC.

 	 
	 	By:  	 	 
	 	 	EXECUTIVEExhibit 10.56

Exhibit 10.56

AMENDMENT TO SEPARATION AGREEMENT

This Amendment to Separation Agreement (the “Amendment”) is made this 11th day of February,
2010 by and between PINNACLE ENTERTAINMENT, INC. (the “Company”) and DANIEL R. LEE (“Executive” and
together with the Company, the “Parties”) with reference to the following facts:

A. On November 7, 2009 the Parties entered into a Separation Agreement setting forth the
rights and obligations of the Parties in connection with Executive’s separation from the Company.

B. The Parties wish to amend the Separation Agreement in the manner set forth herein.

Accordingly, the Separation Agreement is amended as follows:

1. Accrued Salary, Expenses and Prorated Bonus. The last sentence of Section 3(a) of
the Separation Agreement is amended to read as follows:

“In addition, Executive shall be entitled to receive a bonus for the 2009 year in the
amount of $749,325, payable six (6) months and one (1) day after the Separation date.”

2. Accelerated Vesting — Stock Options. Section 3(c) of the Separation Agreement is
amended by the addition of the following sentence at the end of that Section:

“Notwithstanding the preceding sentence, Executive agrees that options held by him
covering 483,333 shares at an exercise price of $14.70 shall expire and cease to be
exercisable concurrently with the execution of this Amendment.”

Except as amended as provided in Sections 1. and 2. above, the Separation Agreement remains in
full force and effect.

Executed on the year and date set forth above.

	 	 	 	 	 	 	 	 	 
	 	 	DANIEL R. LEE	 	PINNACLE ENTERTAINMENT, INC.
	 
	 	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Daniel R. Lee
	 	By:
	 	/s/ John A. Godfrey
	 

	 	 	 	Daniel R. Lee
	 	 	 	John A. Godfrey, Executive Vice
	 

	 	 	 	 	 	 	 	President and General Counsel

SPOUSAL CONSENT

By her signature below, the spouse of Daniel R. Lee agrees to be bound by all of the items and
conditions of the foregoing Amendment to Separation Agreement.

Dated: February 11, 2010

	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Suzanne Lee
	 	 
	 

	 	 	 	Suzanne Lee

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