Document:

First Amendment to Rights Agreement

 Exhibit 4.1 
 FIRST AMENDMENT TO RIGHTS AGREEMENT 
 This First Amendment to Rights Agreement (this
“Amendment”) dated as of January 24, 2008 is by and between Nautilus, Inc., a Washington corporation (the “Company”), and Computershare Trust Company N.A. (the “Rights Agent”). 
 RECITALS 
 WHEREAS, the Rights Agent and the Company
are parties to that certain Rights Agreement dated as of October 29, 2007 (the “Rights Agreement”); 
 WHEREAS, pursuant to Section 27 of
the Rights Agreement, the Company may, and the Rights Agent shall if the Company so directs, supplement or amend the Rights Agreement during such time as the Rights are redeemable; and 
 WHEREAS, the Board of Directors of the Company has determined to amend the Rights Agreement in certain respects and has so directed the Rights Agent. 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration the Company and the Rights Agent hereby agree: 
 AGREEMENT 
 1. Definitions. Capitalized terms used in this Amendment but not otherwise
defined shall have the meanings given to them in the Rights Agreement. 
 2. Amendments. Section 7(a) of the Rights Agreement is hereby deleted
and replaced in its entirety with the following paragraph: 
 Section 7. Exercise of Rights, Purchase Price; Expiration Date of
Rights. 
 (a) Except as otherwise provided herein, the Rights shall become exercisable on the Distribution Date, and thereafter the
registered holder of any Right Certificate may, subject to Section 11(a)(ii) hereof and except as otherwise provided herein, exercise the Rights evidenced thereby in whole or in part upon surrender of the Right Certificate, with the form of
election to purchase on the reverse side thereof duly executed, to the Rights Agent at the office or agency of the Rights Agent designated for such purpose, together with payment of the Purchase Price for each share of Common Stock (or other
securities, cash or assets, as the case may be) as to which the Rights are exercised, at any time which is both after the Distribution Date and prior to the time (the “Expiration Date”) that is the earliest of (i) the close of
business on January 22, 2008 (the “Final Expiration Date”), (ii) the time at which the Rights are redeemed as provided in Section 23 hereof (the “Redemption Date”) or (iii) the time at which such
Rights are exchanged as provided in Section 24 hereof. 

 3. Remaining Terms. Those portions of the Rights Agreement that are not expressly amended hereby shall continue in
full force and effect. Notwithstanding the foregoing, the Rights Agent and the Company acknowledge and agree that upon the Expiration Date the Rights Agreement shall terminate and be of no further force and effect. 
 4. Integration. This Amendment, read in conjunction with the Rights Agreement, constitutes the entire agreement between the parties with respect to the subject
mater hereof and expressly replaces, supersedes and negates any prior or contemporaneous agreements, whether written or oral. 
 5. Counterparts. This
Amendment may be executed in two or more counterparts, each of which shall be an original and all of which, taken together, shall constitute one document, and shall be effective when signed by all parties hereto. Signatures transmitted via facsimile
shall be effective and binding for all purposes. 
 [Remainder of this Page Intentionally Blank] 

 IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Rights Agreement to be duly
executed and attested, all as of the day and year first above written. 
  

									
		 		 	NAUTILUS, INC.
					
	Attest:	 	/s/ Teresa Feeser	 		 	By:	 	/s/ Wayne Bolio
		 		 		 	Name:	 	Wayne Bolio
		 		 		 	Title:	 	Chief Administrative Officer
			
		 		 	COMPUTERSHARE TRUST COMPANY, N.A.
					
	Attest:	 	/s/ Patrick Hayes	 		 	By:	 	/s/ Ian Yewer
		 		 		 	Name:	 	Ian Yewer
		 		 		 	Title:	 	Branch PresidentThird Supplemental Indenture, dated as of January 28, 2008

 Exhibit 4.1

 
 HARRAH’S OPERATING COMPANY, INC. 
 as Issuer 
 AND 
 HARRAH’S ENTERTAINMENT, INC.

 as Guarantor 
 AND

 U.S. BANK, NATIONAL ASSOCIATION 
 as Trustee 
  

 THIRD SUPPLEMENTAL INDENTURE 
 Dated as of January 28, 2008 
 to 
 the Amended and Restated Indenture 
 Dated as of July 28, 2005 
 Floating Rate
Contingent Convertible Senior Notes due 2024 

 THIS THIRD SUPPLEMENTAL INDENTURE, (the “Supplemental Indenture”), dated as of
January 28, 2008, is by and among Harrah’s Entertainment, Inc., a Delaware corporation (the “Parent”), Harrah’s Operating Company, Inc., a Delaware corporation and a wholly owned subsidiary of the Parent (the
“Company”), and U.S. Bank National Association, as trustee under the indenture referred to below (the “Trustee”). 
 W I T N E S S E T H 
 WHEREAS, reference is made to that certain Amended and Restated
Indenture, dated as of July 28, 2005, by and among the Parent, the Company, as successor to Caesars Entertainment, Inc., a Delaware corporation (“Caesars”), and the Trustee, as amended and supplemented by that certain First
Supplemental Indenture, dated as of September 9, 2005 and that certain Second Supplemental Indenture, dated as of January 28, 2008 (as so amended and restated, the “Original Indenture,” and as further amended and
supplemented hereby, the “Indenture”), with respect to the Company’s Floating Rate Contingent Convertible Senior Notes due 2024 (the “Notes”); 
 WHEREAS, in accordance with Section 9.02 of the Original Indenture, the Company and the Trustee may amend the Original Indenture with the written
consent of holders of at least a majority in principal amount of the Notes outstanding; 
 WHEREAS, the Parent and the Company desire to
amend the Original Indenture in accordance with Section 9.02 of the Original Indenture and have solicited consents from the holders of the Notes to certain amendments to the Original Indenture pursuant to an Offer to Purchase and Consent
Solicitation Statement dated December 21, 2007 (the “Offer”); 
 WHEREAS, the holders of at least a majority in
principal amount of the Notes outstanding have consented to the amendments to the Original Indenture contained herein; 
 WHEREAS,
Section 10.11 requires that the Company and the Parent execute a supplemental indenture to give effect to any consolidation, combination, merger or share exchange to which the Parent is a party; 
 WHEREAS, on the date hereof, the Parent shall consummate a merger (the “Merger”) with Hamlet Merger Inc., a Delaware corporation
(“Merger Inc.”), whereby Merger Inc. will merge with and into the Parent, each share of existing Common Stock of the Parent will convert into the right to receive $90.00 in cash, and the capital stock of Merger Inc. will become the
new capital stock of Merger Inc.; 
 WHEREAS, in accordance with Section 9.01 of the Original Indenture, the Company, the Parent and the
Trustee may amend or supplement the Original Indenture without notice to or consent of any Holder to comply with Section 10.11; 
 WHEREAS, the Parent has agreed to fully and unconditionally guarantee the Company’s obligations under the Indenture and the Notes, which guarantee is provided in this Second Supplemental Indenture, as permitted pursuant to
Section 9.01 of the Original Indenture; and 
 WHEREAS, the execution and delivery of this Second Supplemental Indenture has been duly
authorized by the parties hereto, and all other acts necessary to make this Supplemental Indenture a valid and binding supplement to the Original Indenture effectively amending the Original Indenture as set forth herein have been duly taken.

 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Company, the Parent and the Trustee mutually covenant and agree as follows: 
 ARTICLE I  
 DEFINITIONS 
 Section 1.1 Deletion
of Definitions and Related References. Section 1.01 of the Original Indenture is hereby amended to delete in their entirety all terms and their respective definitions for which all references are eliminated in the Original Indenture as
a result of the amendments set forth in Section 2.1 of this Supplemental Indenture. 
  

 2 

 ARTICLE II  
 AMENDMENTS 
 Section 2.1 Amendments to the Original Indenture in accordance with
Section 9.02. The Original Indenture is hereby amended by deleting the following sections of the Original Indenture and all references thereto in the Original Indenture in their entirety: 
  

	 	•	 	 Section 4.02 (SEC and Other Reports) 

  

	 	•	 	 Section 4.03 (Compliance Certificate; Notice of Default) 

  

	 	•	 	 Section 4.04 (Further Instruments and Acts) 

  

	 	•	 	 Section 4.05 (Maintenance of Office or Agency) 

  

	 	•	 	 Section 4.06 (Delivery of Certain Information) 

  

	 	•	 	 Section 4.07 (Liquidated Damages) 

  

	 	•	 	 Section 5.01 (When the Company May Consolidate, Merger or Transfer Assets - deleting clause 5.01(b) only) 

  

	 	•	 	 Section 6.01 (Events of Default - deleting clauses (c), (d), (e) and (f) only) 

 Section 2.2 Amendments and Supplements to the Original Indenture in accordance with Section 10.11. The Original Indenture is
hereby amended and supplemented as follows: 
 (a) During the Transaction Conversion Period beginning from and after the
consummation of the Merger until and including the date that is 15 days after the consummation of the Merger, a Holder may convert its Notes into $1,379.52 in cash per $1,000 principal amount of Notes in accordance with Article 10 of the Original
Indenture. 
 (b) After completion of the Transaction Conversion Period referred to in Section 2.2(a) above, (i) the
Notes shall be convertible into the post-Merger non-voting common stock of the Parent (the “New Common Stock”) as and to the extent convertible into the currently existing Common Stock in Article 10 of the Original Indenture,
(ii) such New Common Stock shall be the basis for determining the Conversion Value pursuant to Section 10.01, Section 10.14 and the Securities (with the initial Conversion Rate in respect of such New Common Stock equal to the
then-existing Conversion Rate multiplied by the number of shares (or fraction thereof) of such New Common Stock issuable for each share of Common Stock in the Merger, assuming conversion of the Securities entirely into Common Stock, and the initial
Conversion Price in respect of such New Common Stock equal to the then-existing Conversion Price divided by such number of shares (or fraction thereof)) and (iii) such New Common Stock shall be subject to all adjustments contemplated by Article
10 of the Original Indenture. 
 ARTICLE III  
 MISCELLANEOUS PROVISIONS 
 Section 3.1 Indenture. Except as amended hereby, the Indenture
is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes
heretofore or hereafter authenticated and delivered under the Original Indenture shall be bound by the Indenture as amended hereby. Subject to Section 9.03 of the Original Indenture, in the case of conflict between the Original Indenture and
this Supplemental Indenture, the provisions of this Supplemental Indenture shall control. 
  

 3 

 Section 3.2 Amendment to Notes. The Notes included certain of the foregoing provisions
from the Indenture to be deleted or amended pursuant to Articles I and II hereof. Upon the effective date of this Supplemental Indenture, such provision from the Notes shall be deemed deleted or amended as applicable. 
 Section 3.3 Effectiveness of Amendments. This Supplemental Indenture shall be effective upon execution hereof by the Company, the
Parent and the Trustee; provided, however, that the amendments to the Original Indenture and the Notes set forth in Articles I and II and Section 3.2 of this Supplemental Indenture shall not become operative until the acceptance for payment by
the Company of the Notes tendered pursuant to the Offer. In the event the Company notifies (if orally, then confirmed in writing) Global Bond Services Corporation, as depositary and information agent under the Offer, that it has withdrawn or
terminated the Offer, this Supplemental Indenture shall be terminated and of no force of effect and the Original Indenture shall not be modified hereby. 
 Section 3.4 Severability. In case any provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall
not in any way be affected or impaired thereby. 
 Section 3.5 Capitalized Terms. Capitalized terms used herein but not
defined shall have the meanings assigned to them in the Original Indenture.  
 Section 3.6 Effect of Headings. The
Article and Section headings used herein are for convenience only and shall not affect the construction of this Supplemental Indenture. 
 Section 3.7 Trustee Makes No Representations. The Trustee makes no representation as to the validity or sufficiency of this Second Supplemental Indenture. 
 Section 3.8 Certain Duties and Responsibilities of the Trustee. In entering into this Supplemental Indenture, the Trustee shall be
entitled to the benefit of every provision of the Original Indenture relating to the conduct or affecting the liability or affording protection to the Trustee, whether or not elsewhere herein so provided. 
 Section 3.9 Governing Law. THIS SUPPLEMENTAL INDENTURE AND THE NOTES WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. Each of the parties hereto agrees to submit to the jurisdiction of the courts of the State of New York
in any action or proceeding arising out of, or relating to, this Supplemental Indenture or the Notes. 
 Section 3.10
Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent one and the same agreement. 
 Section 3.11 Successors. All agreements of the Company, the Parent and the Trustee in this Supplemental Indenture and the Notes shall
bind their respective successors. 
 Section 3.12 Endorsement and Change of Form of Notes. Any Notes authenticated and
delivered after the close of business on the date that this Supplemental Indenture becomes effective shall be affixed to, stamped, imprinted or otherwise legended by the Trustee, with a notation as follows: 
 “Effective as of January 28, 2008, the restrictive covenants of the Company and certain of the Events of Default have been eliminated, as provided in the Third
Supplemental Indenture, dated as of January 28, 2008. Reference is hereby made to said Third Supplemental Indenture, copies of which are on file with the Trustee, for a description of the amendments made therein.” 
 (THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK) 
  

 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed
as of the day and year written above. 
  

			
	HARRAH’S OPERATING COMPANY, INC.
		
	By:	 	 /s/ Jonathan S. Halkyard

	Name:	 	Jonathan S. Halkyard
	Title:	 	 Senior Vice President, Chief Financial
 Officer and
Treasurer

	
	HARRAH’S ENTERTAINMENT, INC.
		
	By:	 	 /s/ Jonathan S. Halkyard

	Name:	 	Jonathan S. Halkyard
	Title:	 	 Senior Vice President, Chief Financial
 Officer and
Treasurer

  

			
	U.S. BANK, N.A., as Trustee
		
	By:	 	 /s/ Raymond S. Haverstock

	Name:	 	Raymond S. Haverstock
	Title:	 	Vice President

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