Attached files
Exhibit 10.56
AMENDMENT TO SEPARATION AGREEMENT
This Amendment to Separation Agreement (the Amendment) is made this 11th day of February,
2010 by and between PINNACLE ENTERTAINMENT, INC. (the Company) and DANIEL R. LEE (Executive and
together with the Company, the Parties) with reference to the following facts:
A. On November 7, 2009 the Parties entered into a Separation Agreement setting forth the
rights and obligations of the Parties in connection with Executives separation from the Company.
B. The Parties wish to amend the Separation Agreement in the manner set forth herein.
Accordingly, the Separation Agreement is amended as follows:
1. Accrued Salary, Expenses and Prorated Bonus. The last sentence of Section 3(a) of
the Separation Agreement is amended to read as follows:
In addition, Executive shall be entitled to receive a bonus for the 2009 year in the
amount of $749,325, payable six (6) months and one (1) day after the Separation date.
2. Accelerated Vesting Stock Options. Section 3(c) of the Separation Agreement is
amended by the addition of the following sentence at the end of that Section:
Notwithstanding the preceding sentence, Executive agrees that options held by him
covering 483,333 shares at an exercise price of $14.70 shall expire and cease to be
exercisable concurrently with the execution of this Amendment.
Except as amended as provided in Sections 1. and 2. above, the Separation Agreement remains in
full force and effect.
Executed on the year and date set forth above.
DANIEL R. LEE | PINNACLE ENTERTAINMENT, INC. | |||||||
By: | /s/ Daniel R. Lee | By: | /s/ John A. Godfrey | |||||
Daniel R. Lee | John A. Godfrey, Executive Vice | |||||||
President and General Counsel |
SPOUSAL CONSENT
By her signature below, the spouse of Daniel R. Lee agrees to be bound by all of the items and
conditions of the foregoing Amendment to Separation Agreement.
Dated: February 11, 2010
By: | /s/ Suzanne Lee | |||||
Suzanne Lee |