Compensation Adjustment Letter Agreement between Nevada Gold & Casinos, Inc. and Ernest E. East
This agreement between Nevada Gold & Casinos, Inc. and Ernest E. East confirms that Mr. East will continue as a full-time employee at an annual salary of $225,000 until the company notifies him otherwise. After such notification, his salary will revert to $90,000 per year, as previously set by the Board of Directors. The agreement extends his compensation arrangement beyond the completion or termination of a transaction with Great Elm Capital Group.
Exhibit 10.11
July 10, 2018
Ernest E. East
Nevada Gold & Casinos, Inc.
133 E. Warm Springs Road
Suite 102
Las Vegas, Nevada 89119
Dear Ernest:
Reference is made to the letter agreement dated April 2, 2018 between you and Nevada Gold & Casinos, Inc. (the “Company”) regarding an adjustment in your compensation in connection with the preparation of a definitive purchase agreement with Great Elm Capital Group (“GEC”).
By mutual agreement, your continued participation as a full-time employee is necessary and desirable for an extended period beyond the completion or termination of the transaction with GEC.
Accordingly, your compensation shall remain at $225,000 per annum until notification by the Company. After such notification your base compensation shall return to $90,000 per annum as previously established by the Board of Directors.
| Nevada Gold & Casinos, Inc. | ||
| By | ||
| William J. Sherlock | ||
| Chairman of the Board of Directors | ||
| Agreed | ||
| Ernest E. East |
133 E. Warm Springs Road, Suite 102 Ÿ Las Vegas, NV 89119 Ÿ P: 702 ###-###-#### Ÿ F: 702 ###-###-####
