Item 1.01 Entry into Material Definitive Agreement
On June 8, 2009, Nevada Gold & Casinos, Inc. (the "Company") entered into a
Second Amendment to Employment Agreement with Ernest E. East, the Company's
Senior Vice President, General Counsel and Chief Compliance Officer (the
"Amendment"). The Amendment, effective as of August 1, 2009, provides that Mr.
East may perform his employment duties from a location outside Houston, Texas
while devoting no more than 50% of his working time as an employee of the
Company. In addition, Mr. East's annual salary is reduced to $130,000 per annum
and the criteria for his performance bonus shall be based solely upon
achievement of the Company's Target Plan strategic and financial goals.
For a complete description of Mr. East's employment agreement reference is made
to his original agreement dated December 29, 2007, as amended on April 14, 2008.
The Amendment dated June 8, 2009 is filed herewith.
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