Trump Entertainment Resorts (TRMP: 0.00 N/A) has bought six executives out of their employment contracts under a “change of control” clause in the agreements.

The provision became valid when bondholders led by Avenue Capital gained control of the Atlantic City gaming company in a $255 million bankruptcy takeover in July.

Among the executives that have tendered their resignation invoking the clause are Rosalind Krause, general manager of Trump Taj Mahal Casino Resort, Jim Rigot, general manager of Trump Plaza Hotel and Casino, Joseph A. Fusco, executive vice president of government affairs; Craig D. Keyser, executive vice president of human resources; Richard M. Santoro, executive vice president of asset protection and risk management and Ravneet Bhandari, senior vice president of revenue management.

Trump Entertainment said that the leaner executive team will help them achieve their goal of reducing expenses as they try and recover from debt and a faulting economy.

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