UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): March 4, 2008
RIVIERA HOLDINGS CORPORATION
(exact name of registrant as specified in its charter)
Nevada 000-21430 88-0296885
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
2901 Las Vegas Boulevard
Las Vegas, Nevada 89109
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (702) 794-9527
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
[] Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers, Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 4, 2008, the Company's Board of Directors approved the Third Amendment
to our employment agreementwith William L. Westerman, our Cheif Executive
Officer and Chairman of the Board. The Third Amendment provides that effective
as of January 1, 2008 Mr. Westerman is eligible to participate in the senior
management incentive compensation plan. The Third Amendment also provides for
the payment to Mr. Westerman of a discretionary bonus in the amount of $300,000
prior to March 15, 2008, for Mr. Westerman's contribution to our performance in
2007.
On March 4, the Company also awarded bonuses to our other Executive Officers,
payable prior to March 15, 2008 as follows: (i)Robert Vannucci was awarded
a 2007 incentive bonus in the amount of $203,434; and Mark Lefever and
Tullio Marchionne were each awarded a 2007 incentive bonus in the amount of
$114,761 and a discretionary bonus in the amount of $35,239.
In addition to the named Executive Officers, Incentive Bonuses totaling
approximately $900,000 were awarded to 113 Riviera Las Vegas and Riviera Black
Hawk participants.
Item 9.01 Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits:
Exhibit 10.01 William Westerman Employment Agreement Third Amendment dated
March 4, 2008
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 10, 2008 RIVIERA HOLDINGS CORPORATION
By: /s/ Mark Lefever
Mark Lefever
Treasurer and Chief Financial Officer