Item 1.01. Entry into a Material Definitive Agreement.
On March 4, 2009, Lakes Entertainment, Inc. ("Lakes") entered into a First Amendment to Employment Agreement with Lyle Berman, Chief Executive officer of Lakes, amending the term of Mr. Berman's employment agreement executed on February 15, 2006 to run from February 15, 2009 to February 15, 2012. Also on March 4, 2009, Lakes entered into a First Amendment to Employment Agreement with Timothy Cope, President and Chief Financial Officer of Lakes, amending the term of Mr. Cope's employment agreement executed on February 15, 2006 to run from February 15, 2009 to February 15, 2012.
A copy of these agreements attached as Exhibit 10.1 and 10.2 to this Current Report on Form 8-K.