Document:

exv10w4

 

EXHIBIT
10.4

CASINO SERVICES AGREEMENT

BETWEEN WIMAR TAHOE CORPORATION

DBA COLUMBIA ENTERTAINMENT

AND

WIMAR OPCO, LLC DBA

TROPICANA ENTERTAINMENT

This Casino Services Agreement (the “Agreement”) is made and entered into as of the
3rd day of January, 2007 between Wimar Tahoe Corporation (“CE”), and Wimar OpCo, LLC dba
Tropicana Entertainment, a Delaware limited liability company (“Trop”);

Whereas, Trop is desirous of having CE provide management services on behalf of the casino
operations of its various subsidiaries as listed in Exhibit I. In consideration of the terms and
conditions set forth in this Agreement, CE and Trop hereby enter into this Agreement which
provides, among other things, for CE’s services.

NOW THEREFORE, the parties agree as follows:

	 	1.	 	Contract. Trop hereby contracts for management services with CE and CE hereby agrees
to provide such services to Trop upon the terms and conditions hereinafter set forth.
	 
	 	2.	 	Term and Termination. CE’s provision of services shall commence on the effective date
of the merger between Aztar Corporation and WT- Columbia Development, Inc. and shall
continue in full force and effect until such time as Trop terminates this Agreement upon
sixty (60) days written notice to CE.
	 
	 	3.	 	Duties. During the term of this Agreement, CE shall provide to Trop any and all
services in casino management matters required or requested by Trop in connection with its
various casino operations as listed in Exhibit II. Within the limitations herein above
provided, CE will render such other services of a supervisory nature in the casino
operations as may be requested from time-to-time by Trop without further compensation than
that for which provision is made in this Agreement.
	 
	 	4.	 	Time Requirements. CE shall devote adequate time to provide management services as
are necessary to fulfill the requirements of Trop.
	 
	 	5.	 	Compensation. Trop shall pay to CE in monthly installments an estimate of its
allocated portion of CE’s headquarters operating expenses, excluding interest expense and
costs directly attributable to

 

 

	 	 	 	a specific casino operation. The allocation shall be based on the proportion of net
operating revenues of the Trop casino operations managed by CE under this Agreement to
the total net operating revenues of all casino operations managed by CE or owned
directly or indirectly by CE. The monthly estimate paid during each year shall be
based on the prior year’s CE headquarters operating expense (or the budgeted costs for
the first year of this Agreement) and the prior year’s net operating revenues
(provided, however, that for the first year of this Agreement, the first year pro
forma revenues will be used). A final adjustment to adjust the fee to actual will be
made within 60 days of each calendar year end and the parties shall reconcile any
overpayment or deficiency.
	 
	 	6.	 	Relationship Between the Parties. CE is retained only for the purposes and the extent
set forth in this Agreement, and its relationship to Trop shall be that of a provider of
services. This Agreement in no way affects any other agreements or other matters between
CE and Trop that do not relate to the management services specified herein. Each party
(the “Indemnifying Party”) hereby agrees to fully indemnify, defend, and hold harmless the
other party (the “Indemnified Party”) from and against any and all claims, demands,
losses, liabilities, judgments, damages, costs, and expenses of every kind and nature
whatsoever brought by a third party against the Indemnified Party, including reasonable
attorneys’ fees and court costs, arising from the acts of the Indemnifying Party or the
services provided by the Indemnifying Party under this Agreement.

2

 

In Witness Whereof, CE and Trop have caused this Agreement to be executed in their corporate
names by officers having the authority to do the same as of the day and year first above written.

Wimar OpCo, LLC dba Tropicana Entertainment

	 	 	 	 	 
	By:

	 	/s/ William J. Yung
 

William J. Yung, President
	 	 

Wimar Tahoe Corporation dba Columbia Entertainment

	 	 	 	 	 
	Bv:

	 	/s/ Richard M. FitzPatrick
 

Richard M. FitzPatrick
	 	 
	 

	 	Chief Financial Officer	 	 

3exv10w5

 

EXHIBIT
10.5

SERVICE AGREEMENT

BETWEEN

COLUMBIA SUSSEX CORPORATION

AND

COLUMBIA PROPERTIES VICKSBURG, LLC

     This agreement dated the 27th day October 2003 between Columbia Sussex Corporation
(CSC), a Kentucky corporation, and Columbia Properties Vicksburg, LLC (Vicksburg), a
Nevada Corporation;

     WITNESSETH, Vicksburg is desirous of having CSC provide accounting and business
management services related to its operation of the Horizon Vicksburg Hotel and Casino in
Vicksburg, Mississippi (Hotel). The parties agree that CSC is not providing any
management services related to the casino operations at this location, which are under
the sole control of Vicksburg. As such, CSC enter into this Agreement, which provides
among other things for CSC’s services.

     NOW THEREFORE, the parties agree as follows:

     1. CONTRACT. Vicksburg shall contract for accounting and business
management services with CSC and CSC shall provide these services to Vicksburg upon
the terms and conditions hereinafter set forth.

     2. TERM AND EXTENTION. CSC’s provision for services commence on November 1, 2003 and
shall continue in full force and effect until such time as Vicksburg or CSC terminates
the relationship with sixty (60) days written notice to the other party.

     3. DUTIES. During the term of this contract CSC shall provide to Vicksburg the
following services. Accounting and tax matters required or requested in connection with
the operation of the Hotel, including the preparation of monthly accounting statements
and tax reports and returns. CSC will also perform certain clerical functions associated
with casino such as preparing payrolls, paying bills and preparing certain tax returns.
Within the limitations herein above provided, CSC will render such other services of a
supervisory nature in the financial area of the operation as may be requested from
time-to-time by the Vicksburg related to the Hotel and Restaurant operations without
further compensation than that for which provision is made in this Agreement.

     4. TIME REQUIREMENTS. CSC shall devote adequate time to provide accounting,
tax, and business services as is necessary to fulfill the requirements of
Vicksburg.

     5. COMPENSATION. Vicksburg shall pay to CSC in equal monthly installments, as fees
for its services, sums in the aggregate amounting to $10,000.00 (Ten Thousand Dollars)
per month prorated for partial months for as long as this Agreement remains in full force
and effect, subject to future

 

 

escalation by mutual agreement for increases in CSC’s costs of providing these services.

     6. OVERHEAD EXPENSE REIMBURSMENT. Vicksburg contemplates that CSC, in performing the
services herein, will incur natural and normal business expenses such as travel, professional,
secretarial, and incidental expenses. Vicksburg will reimburse CSC for all such expenses, monthly
or quarterly, in CSC’s discretion, upon CSC’s submission of bills or statements of accounts
therefore. All personnel hired by CSC who perform services exclusively for Vicksburg and the Hotel
will be employees of Vicksburg and not CSC. Other supervisory or other personnel who do not work
exclusively for Vicksburg or the Hotel will be employed by CSC.

     7. RELATIONSHIP BETWEEN THE PARTIES. CSC is retained only for the purposes and the extent
set forth in this Agreement, and its relationship to Vicksburg shall be that of a provider of
services only and no other. This Agreement in no way affects any other agreements on other matters
between CSC and Vicksburg that do not relate accounting and/or business management services, and
each party agrees to hold the other harmless and indemnifies same for any acts which create
liability on the other party as a consequence of the services provided pursuant to this Agreement.

     IN WITNESS WHEREOF, CSC and Vicksburg have caused this Agreement to be executed in
their corporate names by officers having the authority to do same as of the day and year
first above written.

	 	 	 	 	 	 	 
	COLUMBIA PROPERTIES VICKSBURG, LLC	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ William J. Yung
	 	 	 	(corporate seal)
	 

	 	 	 	 	 	 
	 

	 	William J. Yung	 	 	 	 
	 

	 	President	 	 	 	 
	 
	 	 	 	 	 	 
	COLUMBIA SUSSEX CORPORATION	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Theodore R. Mitchel
	 	 	 	(corporate seal)
	 

	 	 	 	 	 	 
	 

	 	Theodore R. Mitchel	 	 	 	 
	 

	 	Secretary/Treasurerexv10w5xay

 

EXHIBIT
10.5(a)

1st Amendment to Service Agreement

between

Columbia Sussex Corporation

and

Columbia Properties Vicksburg, LLC

The first amendment dated August 7, 2006, amends the Service Agreement between Columbia Sussex
Corporation (CSC) and Columbia Properties Vicksburg, LLC (Vicksburg) originally dated October 27,
2003.

Whereas, the parties desire to amend the original agreement.

Now therefore, the parties agree to amend paragraph 5. Compensation to provide for annual increases
in the monthly fee, currently $10,000 per monthly, on each January 1st. The fee shall
increase by 3% each year.

In witness whereof, CSC and Vicksburg have caused this First Amendment to be executed in their
corporate names by officers having the authority to do same as of August 7, 2006.

	 	 	 	 	 	 	 	 	 	 	 
	Columbia Properties Vicksburg, LLC	 	 	 	Columbia Sussex Corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ William J. Yung
 

William J. Yung
	 	 	 	By:
	 	/s/ Theodore R. Mitchel
 

Theodore R. Mitchel
	 	 
	 

	 	President
	 	 	 	 	 	Secretary/Treasurerexv10w5xby

 

EXHIBIT
10.5(b)

2nd Amendment to Service Agreement

between

Columbia Sussex Corporation

and

Columbia Properties Vicksburg, LLC

The second amendment dated November 6, 2006, amends the Service Agreement between Columbia Sussex
Corporation (CSC) and Columbia Properties Vicksburg, LLC (Vicksburg) originally dated October 27,
2003 and amended on August 7, 2006.

Whereas, the parties desire to amend the original agreement and the first amendment.

Now therefore, the parties agree to amend paragraph 2 and 3 of the original agreement and
the first amendment as follows:

Revised to allow only Vicksburg with termination rights as follows:

CSC’s provision for services commence on November 1, 2003 and shall continue in full force and
effect until such time as Vicksburg terminates the relationship with sixty (60) days written notice
to the other party.

Duties to include the services listed on the attached Exhibit I in addition to those listed in
paragraph 3.

First Amendment dated August 7, 2006, amended to remove the following sentence:

“The fee shall increase by 3% each year”

and to add the following sentence:

“The fee shall increase by 3% each year commencing January 1, 2008”

In witness whereof, CSC and Vicksburg have caused this Second Amendment to be executed in their
corporate names by officers having the authority to do same as of November 6, 2006.

	 	 	 	 	 	 	 	 	 	 	 
	Columbia Properties Vicksburg, LLC	 	 	 	Columbia Sussex Corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ William J. Yung
 

William J. Yung
	 	 	 	By:
	 	/s/ Theodore R. Mitchel
 

Theodore R. Mitchel
	 	 
	 

	 	President
	 	 	 	 	 	Secretary/Treasurer

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