Exhibit 10.15
[▇▇▇▇▇ HOTELS & CASINO RESORTS, INC. LETTERHEAD]
August 4, 2000
▇▇. ▇▇▇▇ ▇. ▇▇▇▇▇
[ADDRESS]
Re: Second Amendment of the Employment Agreement dated March 6, 1998
between ▇▇▇▇ ▇. ▇▇▇▇▇ and ▇▇▇▇▇'▇ Castle Associates, as assigned to
▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ Associates and amended effective as of January 3, 2000
the "Agreement")
Dear ▇▇. ▇▇▇▇▇:
This letter will confirm our agreement to further amend the Agreement as
follows:
1. This Amendment shall be effective as of July 1, 2000, and the
Expiration Date shall be July 31, 2003, subject to ▇▇▇▇▇'▇ option
pursuant to new Paragraph 13.a. below.
2. Paragraph 1 is hereby amended to confirm your employment as President
and Chief Executive Officer of each of ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ Associates,
▇▇▇▇▇ Plaza Associates, Trump's Castle Associates and ▇▇▇▇▇ Indiana,
Inc. (subject to necessary licensing by the Indiana Gaming Commission).
3. In consideration for this Amendment, Paragraph 2.a, as previously
amended, is hereby deleted in its entirety and replaced as follows:
a. During the term of this Agreement, you shall be paid
an annual salary at the rate of One Million
($1,000,000) Dollars commencing effective as of July
1, 2000, payable periodically in accordance with
▇▇▇▇▇'▇ regular payroll practices. Said annual salary
shall increase to One Million One Hundred Thousand
Dollars ($1,100,000) commencing January 1, 2001 and
to One Million Two Hundred Thousand ($1,200,000)
Dollars commencing January 1, 2002.
4. Paragraph 13 is hereby deleted and replaced in its entirety with the
following:
▇. ▇▇▇▇▇, in its sole discretion, shall have the right
and option to extend the Expiration Date to July 31,
2005. ▇▇▇▇▇ agrees to notify you in writing one
hundred and eighty (180) days prior to the Expiration
Date as set forth herein of ▇▇▇▇▇'▇ decision to
exercise such option. In the event ▇▇▇▇▇ exercises
such option, your annual salary shall be
