Amendment No. 3 to Letter of Intent between Dover Downs Gaming Management Corp. and UG Entertainment, LLC
Dover Downs Gaming Management Corporation and UG Entertainment, LLC have agreed to extend the exclusive dealing provision in their original Letter of Intent for one additional year, until October 14, 2012. This amendment confirms both parties' commitment to continue negotiating exclusively with each other for the specified period. The agreement is effective upon signature by both parties' representatives.
Exhibit 10.1
Dover Downs Gaming Management Corporation
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| September 16, 2011 |
Daniel E. O’Leary
President
UG Entertainment, LLC
50 Upper Alabama Street
Suite 50
Atlanta, GA 30303
| Re: | Amendment No. 3 to the Letter of Intent (“ LOI”) dated October 14, 2008 between Dover Downs Gaming Management Corp. and UG Entertainment, LLC |
Dear Dan:
As we have discussed, we would like to extend Section 4.1 (Exclusive Dealing) for an additional year (until October 14, 2012).
If this is acceptable to you, please so indicate by executing the enclosed copy and returning it to me. Thank you.
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| DOVER DOWNS GAMING MANAGEMENT CORP. | |
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| By: | /s/ Edward J. Sutor |
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| Edward J. Sutor |
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| President |
Accepted and Agreed:
UG ENTERTAINMENT, LLC
| By: | /s/ Daniel E. O’Leary |
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| Daniel E. O’Leary |
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| President |
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| Date: | 10/06/11 |
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ADERHOLD/O’LEARY, LLC
a Georgia limited liability company
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| O’Leary, Inc., its sole manager |
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| By: | /s/ | Daniel E. O’Leary |
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| Daniel E. O’Leary, President |
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| Date: | 10/06/11 |
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