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Second Amendment to Employment Agreement, dated as of May
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EX-10.4 6 ex104secondamendmenttosart.htm EX-10.4 Document
SECOND AMENDMENT TO AMENDED AND RESTATED
This Second Amendment to Amended and Restated Employment Agreement (this “Amendment”) is made and entered into as of May 3, 2022, by and between Blake L. Sartini II (the “Employee”), and Golden Entertainment, Inc., a Minnesota corporation, including its subsidiaries and Affiliates (collectively, the “Company”).
WHEREAS, the Employee and the Company previously entered into that certain Amended and Restated Employment Agreement made and entered into as of March 10, 2017, as amended by the First Amendment to Amended and Restated Employment Agreement made and entered into as of March 14, 2018 (together, the “Agreement”), pursuant to which Employee currently is employed at-will by the Company; and
WHEREAS, the Company and the Employee wish to enter into this Amendment to modify certain terms of the Agreement.
NOW, THEREFORE, in consideration of the mutual promises and covenants and the respective undertakings of the Company and the Employee set forth below, the Company and the Employee agree as follows:
1.Amendment to Section 2. Section 2 of the Agreement is hereby amended by deleting “Four Hundred Twenty-Five Thousand Dollars ($425,000)” and by replacing the same with “, effective April 4, 2022, Four Hundred Fifty Thousand Dollars ($450,000).”
2.Amendment to Section 3. Section 3 of the Agreement is hereby deleted in its entirety and such Section is hereby replaced with the following new Section 3:
“3. Incentive Compensation. The Employee shall participate in the Company's incentive compensation program from time-to-time established and approved by the Compensation Committee of the Company's Board of Directors, such participation to be on the same terms and conditions as from time-to-time apply to executive officers of the Company. The Employee’s target bonus under the Company’s annual incentive compensation plan shall be eighty-five percent (85%) of the Employee’s Base Salary.”
3.Status of Agreement. Except to the limited extent expressly amended hereby, the Agreement and its terms and conditions remain in full force and effect and unchanged by this Amendment. Capitalized terms used herein but not defined herein shall have the meanings ascribed such terms in the Agreement.
4.Counterparts and Facsimile Signatures. This Amendment may be executed in one or more counterparts hereof, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Facsimile signatures are permitted and shall be binding for purposes of this Amendment.
[Signature Page Follows]
IN WITNESS WHEREOF, the Employee has hereunto set the Employee’s hand and, pursuant to the due authorization of its Board, the Company has caused this Amendment to be executed in its name and on its behalf, all as of the day and year first written above.
|GOLDEN ENTERTAINMENT, INC.:||EXECUTIVE:|
/s/ Charles H. Protell
|By:||/s/ Blake L. Sartini II|
|Name:||Charles H. Protell||Blake L. Sartini II|
President and Chief Financial Officer