PH06/159256.2
Exhibit 10.3
AMENDMENT
THIS AMENDMENT, dated as of August 31, 1998, is between
Players International, Inc. (together with its successors or
assigns, the "Company") and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇. ("Executive").
W I T N E S S E T H:
WHEREAS, the Company and Executive are parties to an
Employment Agreement dated as of March 31, 1997 (the "Employment
Agreement"), and the Company and Executive now wish to amend the
Employment Agreement.
NOW, THEREFORE, in consideration of the premises and mutual
covenants contained herein and for other good and valuable
consideration, the Company and Executive agree as follows:
1. Section 2(b) is amended in its entirety to read as
follows:
(b) The Term of Employment shall commence on the
date hereof and shall, unless sooner terminated as
provided in Paragraph 9 or unless extended by the
Company in its sole discretion, terminate on the close
of business on January 22, 2000.
2. Section 3(a) is amended in its entirety to read as
follows:
(a) During the Term of Employment, Executive
shall be employed as Vice President - General Counsel
of the Company or such other more senior position as
the Company may determine in its sole discretion.
Executive's duties, responsibilities and authorities
shall consist of those regularly rendered by a Vice
President - General Counsel or such other duties
appropriate to any senior position within the Company
in which Executive may serve during the Term of
Employment, as the case may be.
3. Section 4 is amended in its entirety to read as
follows:
4. Base Compensation. During the Term of
Employment, Executive shall be paid by the Company or
any of its Affiliates Base Compensation payable no
frequently than in equal semi-monthly installments at
an annualized rate of no less than $175,000 per annum
for the period commencing January 1, 1998 through
January 22, 2000. The Company shall be entitled to
make proper withholdings from Executive's Base
Compensation (and all other payments of compensation
under this Agreement) as required by law.
4. In all respects not amended, the Employment Agreement
is hereby ratified and confirmed.
IN WITNESS WHEREOF, the undersigned have executed this
Amendment as of the date first above written.
PLAYERS INTERNATIONAL, INC.
____________________________________
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Chief Executive Officer
____________________________________
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇.