Third Amendment to Employment Agreement between Larry J. Mullin and Trump's Castle Associates (January 2000)

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between Larry J. Mullin and Trump's Castle Associates. Effective January 3, 2000, Mullin will serve as President and Chief Operating Officer until January 2, 2003. His annual base salary will increase each year from $350,000 in 2000 to $450,000 in 2002, and he will be eligible for a discretionary bonus based on the profitability of Trump Marina Casino Resort. All other terms of the original agreement remain unchanged.

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EX-10.18 32 dex1018.txt AMENDMENT, DATED JANUARY 2000, TO LAWRENCE J. MULLIN EMPLOYMENT AGREEMENT EXHIBIT 10.18 January 4, 2000 Larry J. Mullin 1108 Lavendar Lane Absecon, New Jersey 08201 Re: Third Amendment of the Agreement dated July 24, 1995 between Larry J. Mullin and Trump's Castle Associates ("TCA") (the "Agreement") Dear Mr. Mullin: This letter will confirm that the Agreement is hereby amended to provide that you shall be employed by TCA in the capacity of President and Chief Operating Officer effective as of January 3, 2000. This will also confirm our agreement to amend the Agreement hereby by amending the Expiration Date to January 2, 2003. As consideration for these amendments, your annual base salary as stated in Paragraph 3A of the Agreement shall be amended as follows (i) Three Hundred Fifty Thousand ($350,000.00) Dollars for the calendar year 2000, (ii) Four Hundred Thousand ($400,000.00) Dollars commencing January 1, 2001 and (iii) Four Hundred Fifty Thousand ($450,000.00) commencing January 1, 2002. In addition, the Agreement is also hereby amended to provide that you shall receive a discretionary bonus based upon the profitability of Trump Marina Casino Resort. Except to the extent modified herein, you and TCA hereby ratify the Agreement and agree that all other such terms, conditions and obligations contained therein remain in full force and effect as stated in the Agreement. Very truly yours, /s/ Donald J. Trump --------------------- DONALD J. TRUMP Chairman Trump's Castle Associates Agreed to this 14th day of January, 2000 /s/ Larry J. Mullin - --------------------------- LARRY J. MULLIN