Company: LAWIL
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-041831
Chunk: 84

Company: Light & Wonder, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 84
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 consultants or advisers who provide substantial services are eligible to be granted awards under the A&R 2003 Plan. A prospective employee may be granted an award, but no value may be realized under it if such person does not become an employee. As of December 31, 2024 we had approximately 540 full-time employees (including 4 executive officers) and 8 directors (excluding Mr. Wilson) who are potentially eligible for awards under the 2003 Plan. The number of non-employee service providers currently eligible for grants cannot be readily determined. Approximately 968 individuals held outstanding awards under the 2003 Plan as of December 31, 2024. Administration. The A&R 2003 Plan is administered by the Compensation Committee, except that the Board may itself act in place of the Compensation Committee to administer the A&R 2003 Plan, and determinations with respect to grants to non-employee directors must be made by the Board. Subject to the terms and conditions of the A&R 2003 Plan, the Compensation Committee is authorized to select participants, determine the type and number of awards to be granted and the number of shares to which awards will relate or the amount of an annual or long-term incentive award, specify times at which awards will be exercisable or settled, including performance conditions that may be required as a condition thereof, set other terms and conditions of such awards, prescribe forms of award agreements, interpret and specify rules and regulations relating to the A&R 2003 Plan and make all other determinations which may be necessary or advisable for the administration of the A&R 2003 Plan. Nothing in the A&R 2003 Plan precludes the Compensation Committee from authorizing payment of compensation outside of the A&R 2003 Plan, including bonuses based upon performance, to executive officers and other employees. The Compensation Committee is permitted to delegate authority to executive officers for the granting of awards, but action pursuant to delegated authority generally will be limited to grants to employees who are below the executive officer level. The A&R 2003 Plan provides that Compensation Committee members will not be personally liable, and will 63 TABLE OF CONTENTS be fully indemnified, in connection with any action, determination or interpretation taken or made in good faith under the A&R 2003 Plan unless such action resulted from such person’s bad faith, fraud or willful criminal act or omission. Stock Options and SARs. The Compensation Committee is authorized to grant stock options, including both ISOs, which can result in potentially favorable tax treatment