Document:

ex49to8k05558_07272009.htm

    Exhibit 4.9

     

    
      ASSIGNMENT
OF MORTGAGE

       

      BANK OF SCOTLAND PLC, New York
branch with an address at 1095 Avenue of the Americas, 34th Floor, New
York, New York 10036 (“Assignor”) in connection with the resignation of Assignor
as Agent under the Loan Agreement (as defined in the Mortgage referred to below)
and the appointment of THE PARK
AVENUE BANK, 460 Park Avenue, New York,
NY  10022  (“Assignee”) as such Agent and in
consideration  of $10 paid in hand and other good and valuable
consideration does hereby assign to Assignee that certain Mortgage, Security
Agreement,  Assignment of Leases and Rents, and Fixture
Filing  dated as of January 11, 2005, made by MONTICELLO RACEWAY MANAGEMENT,
INC., a New York corporation, to Assignor in the maximum principal sum of
$10,000,000 and recorded on March 15, 2005 as Instrument No. 2005-00066437 in
Liber 2931, page 505. (the “Mortgage”).

       

      TO HAVE
AND TO HOLD the same unto Assignee, its successors and assigns
forever.

      
         

        This
Assignment is made without any representation or warranty whatsoever by Assignor
and upon the express condition, understanding and agreement that this Assignment
is made without recourse to Assignor, for any cause whatsoever, by Assignee, or
by any successor to the interest of Assignee in the Mortgage and the obligations
secured thereby; provided, however, Assignor represents and warrants that it has
not heretofore assigned, pledged, hypothecated, conveyed or otherwise
transferred the Mortgage, Assignor has full authority to assign the Mortgage to
Assignee and the aggregate outstanding principal amount of all loans secured by
the Mortgage is $6,917,040.77. Nothing contained herein is intended to nor shall
limit or modify the terms of that certain Transfer Supplement pursuant to which
such loans are being transferred from Assignor, in its capacity as a Bank under
the Loan Agreement, to Assignee.

      

       

      Dated
the 23rd day of July , 2009.

       

      BANK OF
SCOTLAND PLC, New York branch

      as Agent
and Lender

       

      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  By:

                                	
                                  /s/
      Julia R. Franklin

                                
	 
      	
                                  Name:
      Julia R. Franklin

                                
	 
      	
                                  Title:
      Assistant Vice
President

                                

                        

                      

                    

                  

                

              

            

          

        

      

      
      

      

      

      

      State of
New York, County of Queens, SS:

       

      On the
23rd day of July in the year 2009, before me, the undersigned, personally
appeared, Julia R. Franklin, the undersigned, personally known to me or proved
to me on the basis of satisfactory evidence to be the individual whose name is
subscribed to the within instrument and Julia R. Franklin acknowledged
to me that she executed the same in her capacity, and that by her signature on
the instrument, the individual or the person upon behalf of which the individual
acted, executed the instrument.

       

      
        
          
            
              
                
                  
                    
                      	 
      	 
      
	 
      	 
      
	 
      	/s/
      Sara G. Alaimo
	 
      	
                              NOTARY
      PUBLIC

                            
	 	 
	 	[SEAL]Exhibit 10.1

July 27, 2009

Joel F.
Gemunder

100 E. RiverCenter Blvd.

Suite 1600

Covington, KY 41011

          Re:     
Temporary Salary Reduction Program

Dear Joel:

          As
you know, Omnicare is implementing a temporary salary reduction program. During
the period of Omnicare’s temporary salary reduction program, your regular base
salary will be reduced by five percent (5%) from its current level. This
reduction in your regular base salary will become effective as of July 16,
2009. 

          The
salary reduction does not constitute a breach of, or a failure by Omnicare or
any of its affiliates to observe or perform any of their obligations under,
your employment agreement with Omnicare, dated August 4, 1988, (the “Employment
Agreement”) or any other agreement you may have with Omnicare or any of its
affiliates. The salary reduction will have no effect on the validity or
enforceability of any provision of the Employment Agreement or any other
agreement that you may have with Omnicare or any of its affiliates.
Notwithstanding anything in this letter to the contrary, for purposes of
determining (i) the severance payable pursuant to Section 3.4 of the Employment
Agreement, (ii) the amount of “compensation” under the Excess Pension Benefit
portion of the Excess Benefit Plan and the Excess Savings Benefit portion of
the Excess Benefit Plan and (iii) your benefits under any other employee
benefit plan of Omnicare or any of its affiliates, your base salary shall be
determined without application of the salary reduction set forth above.

          Nothing
in this letter constitutes an admission by Omnicare or any of its affiliates
that your consent is required to reduce your regular base salary under the
terms of the Employment Agreement or otherwise. If and to the extent necessary,
however, this letter modifies the Employment Agreement to reflect the foregoing
temporary salary reduction. 

          Please
execute and return this letter to show your acknowledgment of and agreement to
the foregoing. We appreciate your efforts on behalf of Omnicare. 

	
 

	
 

	
 

	
Sincerely,

	
 

	
 

	
 

	
/s/
 Mark G. Kobasuk

	
 

	
 

	
 

	
Mark G.
 Kobasuk

	
 

	
 

	
Agreed and
 accepted:

	
 

	
/s/ Joel F. Gemunder
 

	
 

	

	
 

	
Employee

	
Printed
 Name: Joel F. Gemunder

	
Date: July
 27, 2009Exhibit 10.2

July 27, 2009

Patrick E. Keefe

100 E. RiverCenter Blvd.

Suite 1600

Covington, KY 41011

          Re:     Temporary
Salary Reduction Program

Dear Patrick:

          As
you know, Omnicare is implementing a temporary salary reduction program. During
the period of Omnicare’s temporary salary reduction program, your regular base
salary will be reduced by five percent (5%) from its current level. This
reduction in your regular base salary will become effective as of July 16,
2009.

          The
salary reduction does not constitute a breach of, or a failure by Omnicare or
any of its affiliates to observe or perform any of their obligations under,
your employment agreement with Omnicare, dated March 4, 1993 (the “Employment
Agreement”) or any other agreement you may have with Omnicare or any of its
affiliates. The salary reduction will have no effect on the validity or
enforceability of any provision of the Employment Agreement or any other
agreement that you may have with Omnicare or any of its affiliates.
Notwithstanding anything in this letter to the contrary, for purposes of
determining (i) the severance payable pursuant to Section 3.4 of the Employment
Agreement, (ii) the amount of “compensation” under the Excess Pension Benefit
portion of the Excess Benefit Plan and the Excess Savings Benefit portion of
the Excess Benefit Plan and (iii) your benefits under any other employee
benefit plan of Omnicare or any of its affiliates, your base salary shall be
determined without application of the salary reduction set forth above. 

          Nothing
in this letter constitutes an admission by Omnicare or any of its affiliates
that your consent is required to reduce your regular base salary under the
terms of the Employment Agreement or otherwise. If and to the extent necessary,
however, this letter modifies the Employment Agreement to reflect the foregoing
temporary salary reduction. 

          Please
execute and return this letter to show your acknowledgment of and agreement to
the foregoing. We appreciate your efforts on behalf of Omnicare. 

	
 

	
 

	
 

	
Sincerely,

	
 

	
 

	
 

	
/s/ Mark G. Kobasuk

	
 

	
 

	
 

	
Mark G.
 Kobasuk

Agreed and
accepted:

/s/ Patrick E.
Keefe

Employee

Printed Name: Patrick E. Keefe

Date: July 27, 2009Exhibit 10.3

July 27, 2009

David W.
Froesel, Jr.

100 E. RiverCenter Blvd.

Suite 1600

Covington, KY 41011

          Re:     
Temporary Salary Reduction Program

Dear David:

          As
you know, Omnicare is implementing a temporary salary reduction program. During
the period of Omnicare’s temporary salary reduction program, your regular base
salary will be reduced by five percent (5%) from its current level. This
reduction in your regular base salary will become effective as of July 16,
2009. 

          The
salary reduction does not constitute a breach of, or a failure by Omnicare or
any of its affiliates to observe or perform any of their obligations under,
your employment agreement with Omnicare, dated February 17, 1996 (the
“Employment Agreement”) or any other agreement you may have with Omnicare or
any of its affiliates. The salary reduction will have no effect on the validity
or enforceability of any provision of the Employment Agreement or any other
agreement that you may have with Omnicare or any of its affiliates.
Notwithstanding anything in this letter to the contrary, for purposes of
determining (i) the severance payable pursuant to Section 3.4 or 3.5 of the
Employment Agreement, (ii) the amount of “compensation” under the Rabbi Trust
for Deferred Compensation Arrangements and the Excess Savings Benefit portion
of the Excess Benefit Plan and (iii) your benefits under any other employee
benefit plan of Omnicare or any of its affiliates, your base salary shall be
determined without application of the salary reduction set forth above.

          Nothing
in this letter constitutes an admission by Omnicare or any of its affiliates
that your consent is required to reduce your regular base salary under the
terms of the Employment Agreement or otherwise. If and to the extent necessary,
however, this letter modifies the Employment Agreement to reflect the foregoing
temporary salary reduction. 

          Please
execute and return this letter to show your acknowledgment of and agreement to
the foregoing. We appreciate your efforts on behalf of Omnicare.

	
 

	
 

	
 

	
Sincerely,

	
 

	
 

	
 

	
/s/ Mark G. Kobasuk

	
 

	
 

	
 

	
Mark G. Kobasuk

Agreed and
accepted:

/s/ David W.
Froesel, Jr.

Employee

Printed Name: David W. Froesel, Jr.

Date: July 27, 2009

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