EXHIBIT 10.17
FIRST AMENDMENT TO THE
CLUBCORP EMPLOYEE STOCK OWNERSHIP PLAN
AND
CLUBCORP EMPLOYEE STOCK OWNERSHIP TRUST AGREEMENT
Amendment made effective January 27, 1999, by ClubCorp, Inc., a Delaware
corporation, formerly ClubCorp International, Inc., (the Company").
W I T N E S S E T H:
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Whereas, the Company established the ClubCorp Stock Investment Plan (the
"Prior Plan") and the ClubCorp Stock Investment Trust (the "Prior Trust"); and
WHEREAS, the Company amended and restated the Prior Plan and Prior Trust,
effective January 1, 1999, as the ClubCorp Employee Stock Ownership Plan
("ESOP") and the ClubCorp Employee Stock Ownership Trust Agreement,
respectively; and
WHEREAS, effective January 27, 1999, the Company changed its name from
ClubCorp International, Inc. to ClubCorp, Inc.; and
WHEREAS, the Company now desires to amend the ESOP to change the name of
the Company, as defined therein, from ClubCorp International, Inc. to ClubCorp,
Inc. effective as of the date the Company changed its name; and
WHEREAS, the ESOP may be amended by the Company pursuant to the provisions
of Article 15 of the ESOP, and the company desires to amend the ESOP.
NOW, THEREFORE, the ESOP is amended as follows, effective as set forth
above:
1. All references to the name of the Corporation and its state of
incorporation, as "Club Corporation International, a Nevada corporation" in each
and every place it may appear in the Plan are deleted, and "ClubCorp, Inc.,
a Delaware corporation" is substituted in each place where "Club Corporation
International, a Nevada corporation" is deleted.
2. Existing Section 2.10 is deleted in its entirety, and the following is
substituted in its place:
"2.10" "Company" means ClubCorp, Inc., or its successor."
IN WITNESS WHEREOF, ClubCorp, Inc., acting by and through its duly
authorized officer, has executed this document on this 26th day of February,
1999.
CLUBCORP, INC., a Delaware corporation
By: /s/▇▇▇ ▇. ▇▇▇▇▇
Its:
