Attached files
Exhibit 10.48
Summary of Compensatory Arrangement between Pinnacle Entertainment, Inc. and John V. Giovenco
John V. Giovenco shall be entitled to receive $75,000 per month as compensation for his
service as Interim Chief Executive Officer of Pinnacle Entertainment, Inc. (the Company),
retroactive to November 7, 2009. In addition, Mr. Giovenco received fully vested options on
November 24, 2009 and February 8, 2010, covering 50,000 shares of the Companys common stock for
each grant. The exercise price for each option was the closing price of the Companys common stock
on the date of grant. The options will be exercisable until one year following Mr. Giovencos
cessation of service as a director for any reason, but in no event shall the options be exercisable
more than ten years from the date of grant. At the end of Mr. Giovencos term as Interim Chief
Executive Officer, Mr. Giovenco shall be eligible to receive a discretionary bonus as determined by
the Board of Directors of the Company.