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AMENDMENT NO. 3 TO EMPLOYMENT
AGREEMENT
THIS AMENDMENT NO.
3 TO EMPLOYMENT AGREEMENT (this “Amendment”) is made
and entered into as of November 7, 2008, by and between
Ameristar Casinos, Inc., a Nevada corporation (the “
Company ”), and Thomas M. Steinbauer (the “
Employee ”).
WHEREAS, the
Company and the Employee are parties to an Employment Agreement,
dated as of November 15, 1993, as previously amended by
Amendment No. 1 to Employment Agreement dated as of
October 5, 2001 and by Amendment No. 2 to Employment
Agreement dated as of August 15, 2002 (as so amended, the
“ Agreement ”); and
WHEREAS, the
Company and the Employee desire to amend the Agreement to conform
to the requirements of Section 409A of the Internal Revenue
Code of 1986, as amended.
NOW, THEREFORE, in
consideration of the foregoing and for other good and valuable
consideration, the Company and the Employee agree as
follows:
1. New
Section 10.9 . The following new Section 10.9 is
hereby added to the end of the Agreement:
“
10.9 SECTION 409A COMPLIANCE
(a)
A termination of employment shall not be deemed to have occurred
for purposes of any provision of this Agreement providing for the
payment of any amounts or benefits upon or following a termination
of employment unless such termination is also a “separation
from service” within the meaning of Code Section 409A
and the regulations and gui
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