Termination Letter and Repayment Demand under Kean Consulting Agreement with Lakes Kickapoo Entities

Summary

This letter from Lakes Kickapoo Consulting, LLC and Lakes Kickapoo Management, LLC to Kevin M. Kean confirms the termination of their consulting agreement, effective April 3, 2006, following the end of their relationship with the Kickapoo Traditional Tribe of Texas. Kevin Kean is required to immediately repay a $300,000 advance. The letter also reminds him of a non-compete clause, prohibiting him from working with the Tribe or others to manage or develop the Lucky Eagle Casino.

EX-10.3 4 c04165exv10w3.htm LETTER AGREEMENT exv10w3

Exhibit 10.3

April 6, 2006

Mr. Kevin Kean
Kean Companies
210 E. Flamingo Road #101
Las Vegas, NV 89109-4707

Re: Kean Consulting Agreement for Kickapoo Traditional Tribe of Texas

Dear Kevin:

As you know, effective April 3, 2006 we formally terminated our agreement with the Kickapoo Traditional Tribe of Texas. As such, pursuant to Section 4 of the Consulting Agreement by and among Kevin M. Kean, Lakes Kickapoo Consulting, LLC, a Minnesota limited liability company and Lakes Kickapoo Management, LLC, a Minnesota limited liability company, dated June 2, 2005 (“Agreement”), the Agreement is terminated effective April 3, 2006.

As you also know, we have advanced to you under the Agreement $300,000, all of which remains outstanding. Pursuant to Section 5 of the Agreement, this amount is immediately due and payable in full. Please note that you are also subject to a non-compete provision that prohibits you from working with another company to facilitate an agreement between said company and the Tribe to manage/develop/refurbish the Lucky Eagle Casino, or working with the Tribe to accomplish the same.

As always, please feel free to contact me with any questions.



		Very truly yours,
		/s/ Damon E. Schramm

		Damon E. Schramm
		General Counsel

c: Timothy J. Cope