Document:

Eleventh Amendment to the 2001 Restatement of the Harrah's Entertainment,

 Exhibit 10.35 
 ELEVENTH AMENDMENT TO 
 2001 RESTATEMENT OF 
 THE HARRAH’S ENTERTAINMENT, INC. 
 SAVINGS AND RETIREMENT PLAN 
 WHEREAS, Harrah’s Entertainment, Inc., a Delaware corporation (the “Company”), has established
and maintains the Harrah’s Entertainment, Inc. Savings and Retirement Plan (the “Plan”) for the benefit of its eligible employees and the eligible employees of certain participating companies; and 
 WHEREAS, Section 14.2 of the Plan provides that the Board or the HRC has the authority to amend the Plan; and 
 WHEREAS, amendment of the Plan is desirable to permit Participants to make Roth Contributions, as defined below, and to implement automatic enrollment provisions.

 WHEREAS, the Company entered into the Agreement and Plan of Merger, dated as of December 19, 2006, among Hamlet Holdings LLC, Hamlet Merger Inc. and
the Company (the “Merger Agreement”); and 
 WHEREAS, on January 28, 2008, pursuant to the Merger Agreement, Hamlet Merger Inc. merged with
and into the Company and the stock of the Company, including all shares in the Harrah’s Stock Fundunder the Plan, ceased to be publicly traded; and 
 WHEREAS, amendment of the Plan is desirable to reflect changes with respect to the Harrah’s Stock Fund. 
 NOW, THEREFORE, BE IT RESOLVED that
this Eleventh Amendment to the 2001 Restatement of the Plan is adopted and shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions of this Eleventh Amendment. 
 BE IT FURTHER RESOLVED that, pursuant to the power and authority reserved by Section 14.2 of the Plan, the Plan is hereby amended as follows, effective as provided
below. 
 1. Effective January 28, 2008, by substituting the following for the last two paragraphs of the Preamble to the Plan:

 “Effective January 12, 2004 through January 28, 2008, the Plan was a stock bonus plan with a cash or deferred arrangement
intended to comply with the provisions of Sections 401(a), 401(k) and 401(m) of the Code. The Plan was an “eligible individual account plan,” as defined in ERISA Section 407(d)(3), and provided for the acquisition and holding of
“qualifying employer securities,” as defined in ERISA Section 407(d)(5). 
 The portion of the Plan that was invested in qualifying employer
securities was an employee stock ownership plan that met the requirements in Code Sections 401(a), 409 and 4975(e)(7). 
  

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 Effective January 28, 2008, the Plan is a profit-sharing plan with a cash or deferred arrangement
intended to comply with the provisions of Sections 401(a), 401(k) and 401(m) of the Code. The Plan is an “eligible individual account plan,” as defined in ERISA Section 407(d)(3).” 
 2. Effective January 28, 2008, Sections 1.15, 5.4, 5.5, 5.6. 5.7, 6.6(b), 6.8, and 11.5 of the Plan will cease to be effective and will be reserved.

 3. Effective as of April 1, 2008, by substituting the following for Paragraph 1.17(a)(i) of the Plan: 
 “(i) the sum of: (A) the amount of Matching Contributions allocated to his Matching Account and the amount of After Tax Contributions allocated
to his After Tax Account for the Plan Year, (B) any Qualified Nonelective Contributions or Qualified Matching Contributions for that Plan Year (under Section 3.5(b) or 3.6(b)), and (C) allocations of 401(k) Contributions to his 401(k)
Account and allocations of Roth Contributions to his Roth Account (excluding any Catch-up Contributions and any Roth Catch-up Contributions), to the extent the Administrator elects to take such allocations into account, by” 
 4. Effective as of April 1, 2008, by substituting the following for Paragraph 1.18(a)(i) of the Plan: 
 “(i) the sum of: (A) the amount of 401(k) Contributions, if any, credited to his 401(k) Account for the Plan Year in question under this Plan,
the amount of Roth Contributions, if any, credited to his Roth Account for the Plan Year in question under Appendix H of the Plan, and the amount, if any, credited under any other plans which are aggregated with this Plan under Code
Section 401(k)(3)(A) (including any excess amounts described in Code Section 402(g) if he is a Highly Compensated Employee, but excluding any excess amounts distributed to him pursuant to Section 3.8(b) and any Catch-Up Contributions
and any Roth Catch-Up Contributions) and (B) to the extent elected by the Administrator under Section 3.5(b), amounts credited to his Qualified Account for that Plan Year, by” 
 5. Effective as of January 28, 2008, by substituting the following for Section 1.43 of the Plan: 
 “Section 1.43 Investment Fund. “Investment Fund” means one of the investment funds of the Trust Fund as provided in Article V.”

 6. Effective April 1, 2008 by adding the following as a new Section 3.3(a)(v) of the Plan: 
 “(v) This Section 3.3(a)(v) shall apply to: (A) each Eligible Employee who has his first Hour of Service on or after April 1, 2008,
and (B) each Eligible Employee who is a former Employee who has his first Hour of Service after rehire on or after April 1, 2008. Subject to the Rules of the Plan, unless the Eligible Employee elects otherwise by the 105th day after his
date of hire or rehire, as applicable, the Administrator shall treat the Eligible Employee as having 

  

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elected to contribute a 401(k) Contribution by payroll reduction in an amount equal to 3% of his Compensation (the “Initial Automatic Enrollment”).
In accordance with the Rules of the Plan, unless the Eligible Employee elects otherwise, on January 1 of the year following the anniversary of the Employee’s Initial Automatic Enrollment, the payroll deduction shall increase by 1% of the
Eligible Employee’s Compensation, not to exceed 6%. Prior to an Eligible Employee’s Initial Automatic Enrollment and annually thereafter, the Administrator shall provide notices regarding the Eligible Employee’s 401(k) Contributions
under this Section 3.3(a)(v) that comply with the requirements set forth in the Rules of the Plan. All 401(k) Contributions made under this Section 3.3(a)(v) are subject to any combined limit on both 401(k) and After Tax Contributions set
by the Administrator. Except as elected by the Eligible Employee in accordance with Appendix H to the Plan, no portion of the Eligible Employee’s 401(k) Contributions to be made pursuant to this Section 3.3(a)(v) shall be made as Roth
Contributions, as defined in Section H1.3 of Appendix H, or Roth Catch-Up Contributions, as defined in Section H1.2 of Appendix H. Any Participant subject to this Section 3.3(a)(v) may increase, decrease, or completely discontinue his 401(k)
Contributions consistent with Section 3.3(d). All 401(k) Contributions made under this Section 3.3(a)(v) are subject to Section 5.1 (Investment Options) and Section 5.2 (Default Investment Fund).” 
 7. Effective as of April 1, 2008, by substituting the following for Subsection 3.3(h) of the Plan: 
 “(h) Return of Excess Deferrals. If a Participant makes elective deferrals, as defined in Treasury Regulation Section 1.401(k)-6, to this Plan
and any other cash or deferred arrangement for a calendar year which exceed the limit under Code Section 402(g) for such year, the Participant shall notify the Administrator of the amount of such excess deferrals made under this Plan by the
March 1 of the next calendar year. The amount of such excess deferrals (and any income thereon allocable thereto in accordance with Treasury Regulation Section 1.402(g)-1) shall be distributed to the Participant by the April 15 of the
next calendar year. If a Participant has made excess deferrals to this Plan the Participant shall be deemed to have given the notice referred to above, and the excess contributions (and any income thereon) shall be distributed to the Participant by
such April 15. Any such distribution shall not be subject to any Spousal Consent, nor shall it be treated as a withdrawal or distribution subject to the provisions of Article VIII or XI. If such Participant made elective deferrals to this Plan
for a calendar year as 401(k) Contributions and Roth Contributions, such Participant must identify the portion of the Roth Contributions to be treated as excess deferrals for purposes of this subsection.” 
 8. Effective as of January 28, 2008, by substituting the following for Section 3.4(c)(i) of the Plan: 
 “(c) Deposit in Trust. 
 (i) The fixed
Matching Contributions described in Section 3.4(a)(i) will typically be transmitted to the Trustee in cash to be held in the Trust Fund as soon as practicable following the end of each month. However, all Matching Contributions will be
transmitted to the Trustee to be held in the Trust Fund no later than the date upon which the Company’s federal income tax return is due (including extensions thereof) for its taxable year coinciding with the Plan Year in question.”

  

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 9. Effective as of April 1, 2008, by substituting the following for Paragraph 3.5(b)(iv) of the
Plan: 
 “(iv) Prior to the end of the following Plan Year, the amount of excess contributions within the meaning of Treasury Regulation
Section 1.401(k)-6 (adjusted for income or loss for the Plan Year and, only for Plan Years beginning in 2006 and 2007, the period from the end of the Plan Year until distributed, computed in a consistent and reasonable manner in accordance with
Section 5.1 and Code Section 401(a)(4)) for Participants who were Highly Compensated Employees for the Plan Year shall be distributed to the Highly Compensated Employees in question. Such distribution shall not be subject to any Spousal
Consent requirements or treated as a withdrawal or distribution subject to Article VIII or XI. To the extent that any excess contribution is distributed pursuant to this subsection, any Matching Contribution relating to such excess contribution will
be forfeited. If a Participant who was a Highly Compensated Employee for the Plan Year made elective deferrals for the Plan Year as 401(k) Contributions and Roth Contributions, such Participant may designate the portion of the 401(k) Contributions
to be treated as excess contributions and the portion of the Roth Contributions to be treated as excess contributions. If such Participant fails to make such designation, the portions of such Participant’s 401(k) Contributions and Roth
Contributions to be treated as excess contributions shall be determined under the Rule of the Plan.” 
 10. Effective as of
January 28, 2008, by substituting the following for the first sentence of Section 5.1(c) of the Plan: 
 “The Investment Funds
otherwise selected by the Investment Committee and offered under the Plan may be changed, from time to time, without the necessity of amending this Plan.” 
 11. Effective as of January 28, 2008, by substituting the following for Section 5.2 of the Plan: 
 “Section 5.2 Default Investment Fund. If a Participant or Beneficiary fails or declines to make an effective investment election, the Participant’s or Beneficiary’s Accounts shall be held in one or more default Investment
Funds, as selected by the Investment Committee.” 
 12. Effective as of January 28, 2008, by substituting the following for
Section 5.3(a)(i) of the Plan: 
 “(i) has the responsibility and authority to evaluate, select and remove the Investment
Funds;” 
  

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 13. Effective as of January 28, 2008, by substituting the following for Section 6.2(b) of the
Plan: 
 “(b) Transaction. Transaction fees and expenses may include, but are not limited to, withdrawal, distribution and loan
fees. Transaction fees shall be charged to the Participant’s Account involved in the transaction provided that no fee shall reduce a Participant’s Account balance below zero. No fees are assessed on Investment Fund election changes by a
Participant or Beneficiary.” 
 14. Effective as of January 28, 2008, by substituting the following for Section 8.2 of the
Plan: 
 “Section 8.2 Payment Form and Medium. The form of payment for an in-service withdrawal shall be a cash lump-sum.
However, if all or any portion of an in-service withdrawal represents an Eligible Rollover Distribution, a Participant may elect a Direct Rollover.” 
 15. Effective as of January 28, 2008, by substituting the following for Subsection 8.6(a) of the Plan: 
 “(a) After a Participant has exhausted all In-Service Withdrawals available to him under Section 8.7 (and Section H3.3 of Appendix H), a Hardship withdrawal is available from the following Participant Accounts: (i) the vested
Matching Account; (ii) the vested Discretionary Contribution Account; (iii) the 401(k) Account (excluding post-1988 investment earnings), and (iv) the vested Prior Plan Account.” 
 16. Effective as of January 28, 2008, by substituting the following for Paragraph 8.6A(c)(iv) of the Plan: 
 “(iv) By taking other currently available distributions or nontaxable loans from any plan; or” 
 17. Effective as of January 28, 2008, by substituting the following for the first paragraph of Section 11.2 of the Plan: 
 “Section 11.2 Distribution of Accounts. Except as provided in Appendix B or C, distribution of the vested Accounts of a Participant or a
Beneficiary of a deceased Participant shall be made in cash in one of the following forms as elected by the Participant or Beneficiary:” 
 18. Effective as of April 1, 2008, Section 11.3 of the Plan is hereby amended to read in its entirety as follows: 
 Section 11.3 Small Distributions. The Participant shall select the method by which his vested Accounts will be distributed to him. Notwithstanding the foregoing, if the distributable balance of the Participant’s Accounts is
$200 or less, then the Trustee shall distribute the Participant’s vested Accounts in a lump sum, and the Participant shall have no right to select the manner in which he will receive his distribution from the Plan. If the distributable balance
of the Participant’s Accounts is greater than $200, but not greater than $1,000 (provided such Participant does not have an Account subject to Appendix B) and the Participant fails to elect a form of distribution when payable, the Trustee shall
distribute the Participant’s vested Accounts 

  

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in a lump sum. If the distributable balance of the Participant’s Accounts is greater than $1,000 but not greater than $5,000 (provided that the
Participant does not have an Account subject to Appendix B), if the Participant fails to elect a form of distribution when payable, the Trustee shall distribute the Participant’s vested Accounts in a Direct Rollover to an individual retirement
account (described in Code Section 408(a)) or an individual retirement annuity (described in Code Section 408(b)) designated by the Administrator. This Section 11.3 shall not apply to the Participant’s Roth Account and Roth
Rollover Account (which shall be subject to Appendix H). 
 19. Effective April 1, 2008, the Plan is hereby amended by adding Appendix H
to the Plan in the form set forth on Exhibit A hereto. 
 IN WITNESS WHEREOF, Harrah’s Entertainment, Inc. has caused this Eleventh
Amendment to be executed by its duly authorized officer on July 11, 2008. 
  

			
	By:	 	 /s/    JEFFREY SHOVLIN

	Name:	 	Jeffrey Shovlin
	Title:	 	Vice President

  

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 EXHIBIT A 

			
	Roth Contributions	 	Appendix H

 The Harrah’s Entertainment, Inc. 
 Savings and Retirement Plan 
 Roth
Contributions 
 This Appendix H establishes a qualified Roth contribution program, within the meaning of Section 402A of the
Code, under the Plan. 
 Article H1 
 Definitions 
 Unless the context clearly indicates to the contrary, the terms used below with the first letter or letters
capitalized shall have the meanings specified in this Article H1. If no definition is provided below, such terms shall have the meaning specified in the Plan. 
 H1.1 Roth Account. “Roth Account” means the separate account, if any, maintained under Section 1.2 for each Participant to which shall be credited such Participant’s Roth Contributions made
pursuant to Section H2.2, and such Participant’s Roth Catch-up Contributions made pursuant to Section H2.3, and related investment earnings and from which shall be debited allocable expenses, investment losses, withdrawals and distributions.

 H1.2 Roth Catch-Up Contributions. “Roth Catch-Up Contributions” of a Participant means an amount contributed by his
Employer to the Plan for him under Section H2.3. A Roth Catch-up Contribution is designated irrevocably by the Participant at the time of the election as a Roth Catch-up Contribution that is being made in lieu of all or a portion of the Catch-up
Contribution the Participant is otherwise eligible to make under Section 3.3(b). The Roth Catch-up Contribution shall be treated by the Employer as not excludible from the Participant’s gross income at the time the Participant would have
received that amount in cash if the Participant had not made a Roth Catch-up Contribution election. A Participant’s Roth Catch-up Contributions shall be elective contributions, as defined in Treasury Regulation Section 1.401(k)-6, and
shall be designated Roth contributions subject to Section 402A of the Code and Treasury Regulation Section 1.401(k)-1(f). 
 H.1.3
Roth Contributions. “Roth Contributions” of a Participant means an amount contributed by his Employer to the Plan for him under Section H2.2. A Roth Contribution is designated irrevocably by the Participant at the time of the
election as a Roth Contribution that is being made in lieu of all or a portion of the 401(k) contribution the Participant is otherwise eligible to make under Section 3.3(a). The Roth Contribution shall be treated by the Employer as not
excludible from the Participant’s gross income at the time the Participant would have received that amount in cash if the Participant had not made a Roth Contribution election. A 

  

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Participant’s Roth Contributions shall be elective contributions, as defined in Treasury Regulation Section 1.401(k)-6, and shall be designated
Roth contributions subject to Section 402A of the Code and Treasury Regulation Section 1.401(k)-1(f). 
 H1.4 Roth Rollover
Account. “Roth Rollover Account” means the separate account, if any, maintained under Section 1.2 for each Participant to which shall be credited such Participant’s Roth Rollover Contributions made pursuant to Section H5.1
and related investment earnings, and from which shall be debited allocable expenses, investments, withdrawals and distributions. 
 H1.5
Roth Rollover Contribution. “Roth Rollover Contribution” means a contribution made pursuant to Section H5.1. 
 Article H2

 Roth Contribution Program 
 H2.1 Roth Contributions; Roth Catch-up Contributions. Each Active Participant who enters into a payroll reduction agreement may elect, in accordance with the Rules of the Plan, to make Roth Contributions by payroll reduction in
accordance with Sections H2.2, and Roth Catch-Up Contributions in accordance with Section H2.3, in an amount equal to a designated whole percentage of his Compensation within minimum and maximum amounts established by the Administrator from time to
time. 
 H2.2 Designation of 401(k) Contributions. An Active Participant who elects to make 401(k) Contributions pursuant to
Section 3.3(a) may designate that some or all of such 401(k) Contributions are Roth Contributions in accordance with Section 402A of the Code, Treasury Regulation Section 1.401(k)-1(f) and the Rules of the Plan. An Active
Participant’s 401(k) Contributions that are designated as Roth Contributions shall be subject to the limitations of Section 3.3(a) and the Rules of the Plan. 
 H2.3 Designation of Catch-up Contributions. An Active Participant who elects to make Catch-up Contributions pursuant to Section 3.3(b) may designate that some or all of such Catch-up Contributions are Roth
Catch-up Contributions in accordance with Section 402A of the Code, Treasury Regulation Section 1.401(k)-1(f) and the Rules of the Plan. An Active Participant’s Catch-up Contributions that are designated as Roth Catch-up Contributions
shall be subject to the limitations of Section 3.3(b), Code Section 414(v), and the Rules of the Plan. 
 H2.4 Vesting of Roth
Accounts. A Participant shall be 100% vested in his Roth Accounts at all times. 
 H2.5 Application of Plan Provisions. Except as
otherwise provided in the Plan and this Appendix H, the provisions of the Plan applicable to 401(k) Contributions shall apply to Roth Contributions, and the provisions of the Plan applicable to Catch-up Contributions shall apply to Roth Catch-up
Contributions, which provisions shall include, without limitation, the provisions 

  

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of Sections 1.7, 3.3, 3.4, 3.5, 3.6, 3.8, 3.9, Article VIII (other than Section 8.6A) and Appendix A to the Plan. Except as otherwise provided in the
Plan and this Appendix H, references in the Plan to a Participant’s Accounts shall include such Participant’s Roth Account and Roth Rollover Account, if any. 
 Article H3 
 In-Service Withdrawals from 
 Roth Accounts and Roth Rollover Accounts 
 H3.1 In-Service Withdrawals. Notwithstanding anything in the Plan or this Appendix H to the contrary, no Participant may make a withdrawal from his Roth Account until he attains age 59 1/2 or he has a financial hardship (as provided in Section 8.6). 
 H3.2 Hardship Withdrawals. After a Participant has exhausted all In-Service Withdrawals available to him under Section 8.7 (and Section
H3.3), a Hardship withdrawal is available from his Roth Account (excluding investment earnings). Such Participant must satisfy the conditions under Section 8.6 in order to receive such Hardship withdrawal. The Hardship withdrawal will result in
the suspension of all Matching Contributions with respect to any 401(k) Contributions, After Tax Contributions and Roth Contributions made for the next six months, beginning on the first day of the pay period following the pay period in which the
withdrawal is made, or as soon as administratively practicable thereafter. 
 H3.3 In-Service Withdrawals Not on Account of Hardship.

 (a) Roth Account. An Active or Inactive Participant who attains age 59 1/2 may withdraw all or a portion of his Roth Account at any time. Any such withdrawal will result in the suspension of all Matching
Contributions with respect to any 401(k) Contributions, After Tax Contributions and Roth Contributions made for the next six months, beginning with the first day of the first pay period in which the withdrawal is made, or as soon as administratively
practicable thereafter. 
 (b) Roth Rollover Account. An Active or Inactive Participant may withdraw all or a portion of his
Roth Rollover Account at any time. 
 Article H4 
 Distribution of Roth Accounts and Roth Rollover Accounts; Direct Rollovers 
 H4.1 Rights upon Normal or Disability Retirement or
Separation from the Service. 
 (a) Pursuant to Section 11.1, upon a Participant’s Normal, Early or Disability Retirement or
Separation from the Service, he shall be entitled to receive the vested amount credited to his Roth Account and Roth Rollover Account in accordance with Section 11.2. A Participant’s Roth Account shall be distributed on account the
Participant’s severance from employment subject to the other provisions of the Plan regarding distributions, other than provisions that require a Separation from the Service before such amount may be distributed. 
  

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 (b) Notwithstanding Section 11.2(c), a Direct Rollover of a distribution from a Roth Account or Roth
Rollover Account will be made only to another “designated Roth account,” as defined in Section 402A of the Code and Treasury Regulation Section 1.401(k)-6, under an applicable retirement plan, described in-Section 402A(e)(1) of
the Code, or to a Roth IRA described in Section 408A of the Code, and only to the extent the rollover from the Roth Account is an Eligible Rollover Distribution and the recipient is a Distributee. 
 (c) In the case of an Eligible Rollover Distribution from a Participant’s Roth Account and Roth Rollover Account, for purposes of subsection
H4.1(b), a “Direct Rollover” means a payment by the Plan to a designated Roth account, as defined in Section 402A of the Code and Treasury Regulation Section 1.401(k)-6, under an applicable retirement plan, described in
Section 402A(e)(1) of the Code, or to a Roth IRA, described in Section 408A of the Code, which is designated by the Distributee. 
 H4.2 Small Distributions. The Participant shall select the method by which his Roth Account and Roth Rollover Account will be distributed to him under Section 11.2. Notwithstanding the foregoing, if the distributable balance of the
Participant’s Accounts is $200 or less, then the Trustee shall distribute the Participant’s vested Accounts in a lump sum, and the Participant shall have no right to select the manner in which he will receive his distribution from the
Plan. If the distributable balance of the Participant’s Accounts is greater than $200, but not greater than $1,000 (provided such Participant does not have an Account subject to Appendix B) and the Participant fails to elect a form of
distribution when payable, the Trustee shall distribute the Participant’s vested Accounts in a lump sum. Notwithstanding the foregoing, if the distributable balance of the Participant’s Roth Account and Roth Rollover Account is $200 or
less, then the Trustee shall distribute the Participant’s vested Accounts in a lump sum, and the Participant shall have no right to select the manner in which he will receive his distribution from the Plan. If the distributable balance of the
Participant’s Roth Account and Roth Rollover Account is greater than $200, but not greater than $1,000 and the Participant fails to elect a form of distribution when payable, the Trustee shall distribute the Participant’s Roth Account and
Roth Rollover Account in a lump sum. If the distributable balance of the Participant’s Roth Account and Roth Rollover Account is greater than $1,000, but not greater than $5,000, if the Participant fails to elect a form of distribution when
payable, the Trustee shall distribute the Participant’s Roth Account and Roth Rollover Account in a Direct Rollover to a Roth IRA described in Code Section 408A designated by the Administrator. 
 H4.3 Roth Account and Roth Rollover Account Considered Separately for Certain Purposes. 
 (a) For purposes of Section 1.28(b)(iii), any distribution from a Participant’s Roth Account or Roth Rollover Account shall not be considered in
determining whether a total lump sum distribution of the remainder of the Participant’s Accounts is less than $200, as described in Treasury Regulation Section 1.401(a)(31)-1, Q&A 11, in accordance with Treasury Regulation
Section 1.401(k)-1(f)(4). 
 (b) For purposes of Section 11.3, any amount that a Participant’s Roth Account and Roth Rollover
Account shall be considered separately from the remainder of a Participant’s Accounts in determining the distributable balance of the Participant’s Accounts, in accordance with Treasury Regulation Section 1.401(k)-1(f)(4). 

 

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 Article H5 
 Roth Rollover Contributions 
 H5.1 Roth Rollover Contributions. As provided in the Rules of the Plan, an
Eligible Employee may make a contribution to his Roth Rollover Account if it is a direct rollover from another “designated Roth account,” as defined in Section 402A of the Code and Treasury Regulation Section 1.401(k)-6, under an
applicable retirement plan, described in Code Section 402A(e)(1), and only to the extent the direct rollover is an eligible rollover distribution, within the meaning of Section 401(a)(31) of the Code. 
 H5.2 Conditions to Roth Rollover Contributions. 
 (a) To meet the requirements of Section H4.1, such contribution must 
 (i) constitute an eligible rollover distribution, as
defined in Section 402(f)(2)(A) of the Code, and 
 (ii) consist entirely of cash and exclude any other type of property. 

(b) If the Administrator accepts a contribution pursuant to Section H4.1 and later determines that it was improper to do so, in whole or in part, the
Plan shall refund the necessary amount to the Eligible Employee. 
 (c) An Eligible Employee who makes a contribution to his Roth Rollover
Account pursuant to Section H4.1 prior to the date that he satisfies the eligibility requirements described in Article II shall generally be treated as a Participant for purposes of the Plan provisions relating to the valuation, investment and
distribution of Accounts. However, such Eligible Employee shall not be treated as a Participant for purposes of eligibility to make 401(k) Contributions, Catch-Up Contributions, After Tax Contributions, Roth Contributions or Roth Catch-up
Contributions or to receive an allocation of any Matching Contributions, Discretionary Matching Contributions, or Discretionary Contributions. 
 H5.3 Vesting of Roth Rollover Accounts. A Participant shall be 100% vested in his Roth Rollover Account at all times. 
  

 A-5Stock Option Grant Agreement between Gary W. Loveman and Harrah's

 Exhibit 10.52 
 STOCK OPTION GRANT AGREEMENT 
 THIS AGREEMENT,
made as of this 27th day of February 2008 between Harrah’s Entertainment, Inc. (the “Company”) and Gary W. Loveman (the
“Participant”). 
 WHEREAS, the Company has adopted and maintains the Harrah’s Entertainment, Inc. Management Equity
Incentive Plan (the “Plan”) to promote the interests of the Company and its Affiliates and Stockholders by providing the Company’s key employees and others with an appropriate incentive to encourage them to continue in the
employ of and provide services for the Company or its Affiliates and to improve the growth and profitability of the Company; 
 WHEREAS, the
Plan provides for the Grant to Participants of Options to purchase Shares. 
 NOW, THEREFORE, in consideration of the premises and the mutual
covenants hereinafter set forth, the parties hereto hereby agree as follows: 
 1. Grant of Options. Pursuant to, and subject to, the
terms and conditions set forth herein and in the Plan, the Company hereby grants to the Participant a Time-Based Option, a 2X Performance Option and a 3x Performance Option as set forth on the signature page hereto. 
 2. Grant Date. The Grant Date of the Option hereby granted is February 27, 2008. 
 3. Incorporation of Plan. All terms, conditions and restrictions of the Plan are incorporated herein and made part hereof as if stated herein. If
there is any conflict between the terms and conditions of the Plan and this Agreement, the terms and conditions of this Agreement, as interpreted by the Committee, shall govern. All capitalized terms used and not defined herein shall have the
meaning given to such terms in the Plan. 
 4. Exercise Price. The exercise price of each Share underlying the Option hereby granted
is set forth on the signature page hereto. 
 5. Non-Renewal Termination. In the event that Participant’s employment is
terminated by the Company due to the delivery by the Company of a notice of non-renewal of his employment agreement (“Non–Renewal Termination”) the following additional provisions will apply. 
 (a) Notwithstanding the provisions of Section 4.4 of the Plan, Participant’s Option(s),
or any portion thereof, which have become exercisable on or before the date of a Non-Renewal Termination shall expire on the earlier of (i) 120 days following such Non-Renewal Termination or (ii) the 10th anniversary of the Grant Date for such Option(s). 
  

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 (b) Notwithstanding the limitations set forth in Section 4.4.1 of the Plan, all of the provisions
of Section 4.4.1 of the Plan shall apply to Participant in the same manner for a Non-Renewal Termination as such provisions would apply to Participant in the event that Participant terminated his employment for Good Reason. 
 (c) Notwithstanding the limitations set forth in Section 4.9 of the Plan, in the event of a Non-Renewal Termination, the Company will permit the
Participant (or his permitted Transferee, guardian or legal representative, if applicable) to exercise all or any portion of his then-exercisable Option through cashless exercise to satisfy the exercise price and/or the minimum amount of applicable
withholding taxes, but only to the extent such utilization of such right would not cause the Option to be subject to Section 409A of the Code. 
 6. MoM Determinations. If the Participant’s Employment is terminated by the Company without Cause or by virtue of a Non-Renewal Termination or by the Participant for Good Reason, and the Participant disagrees with the
determination of the Deemed MoM made by the Board or Committee pursuant to Section 4.4.1 of the Plan, the Participant shall have the right to require the Company to seek an appraisal to determine the Deemed MoM in lieu of the Board or Committee
determination (an “Outside Appraisal”); provided that the Participant shall not be entitled to an Outside Appraisal in the event an appraisal to determine the Fair Market Value of a Share has been done within the six-month period
immediately preceding the determination of the Deemed MoM and the Board or Committee determines that no event has occurred that would reasonably be expected to affect the Fair Market Value in the reasonable, good faith judgment of the Board or
Committee. Any such Outside Appraisal shall be made by one qualified person (which can be an accounting firm or investment banking firm or similar firm) (each, an “Appraiser”), having substantial experience in the valuation of
similar enterprises in the United States. The Company and the Participant shall mutually agree upon such Appraiser within 30 days of the determination of the Deemed MoM. The Participant shall bear 100% of the fees and expenses of the Appraiser,
unless the Appraiser’s determination of the Fair Market Value of a Share is at least 5% greater than the Board’s determination of the Fair Market Value of a Share, in which case the Company shall bear 100% of the fees and expenses of the
Appraiser. 
 7. Construction of Agreement. Any provision of this Agreement (or portion thereof) which is deemed invalid, illegal or
unenforceable in any jurisdiction shall, as to that jurisdiction and subject to this section, be ineffective to the extent of such invalidity, illegality or unenforceability, without affecting in any way the remaining provisions thereof in such
jurisdiction or rendering that or any other provisions of this Agreement invalid, illegal, or unenforceable in any other jurisdiction. If any covenant should be deemed invalid, illegal or unenforceable because its scope is considered excessive, such
covenant shall be modified so that the scope of the covenant is reduced only to the minimum extent necessary to render the modified covenant valid, legal and enforceable. No waiver of any provision or violation of this Agreement by the Company shall
be implied by the Company’s forbearance or failure to take action. This Agreement is intended to comply with Section 409A of the Code and any guidance issued thereunder and shall be interpreted, operated and administered by the Committee
accordingly. 
  

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 8. Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to
any party hereto upon any breach or default of any party under this Agreement, shall impair any such right, power or remedy of such party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in
any similar breach or default thereafter occurring nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or
character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party or any provisions or conditions of this Agreement, shall be in writing and shall be effective only to the extent specifically
set forth in such writing. 
 9. Limitation on Transfer. The Option shall be exercisable only by the Participant or the
Participant’s Permitted Transferee(s), as determined in accordance with the terms of the Plan (including without limitation the requirement that the Participant obtain the prior written approval by the Committee of any proposed Transfer to a
Permitted Transferee during the lifetime of the Participant). Each Permitted Transferee shall be subject to all the restrictions, obligations, and responsibilities as apply to the Participant under the Plan and this Stock Option Grant Agreement and
shall be entitled to all the rights of the Participant under the Plan, provided that in respect of any Permitted Transferee which is a trust or custodianship, the Option shall become exercisable and/or expire based on the Employment and termination
of Employment of the Participant. All Shares obtained pursuant to the Option granted herein shall not be transferred except as provided in the Plan and, where applicable, the Management Investor Rights Agreement. 
 10. No Special Employment Rights. Nothing contained in the Plan shall confer upon the Participant any right with respect to the continuation of
Employment or interfere in any way with the right of the Company or an Affiliate, subject to the terms of any separate Employment agreement to the contrary, at any time to terminate such Employment or to increase or decrease the compensation of the
Participant from the rate in existence at the time of the grant of the Option. 
 11. Participant’s Undertaking and Consents. The
Participant hereby agrees to take whatever reasonable additional actions and execute whatever additional documents the Company may in its reasonable, good faith judgment deem necessary or advisable in order to carry out or effect one or more of the
obligations or restrictions imposed on the Participant pursuant to the express provisions of this Stock Option Grant Agreement and the Plan (it being understood that such additional actions and documents shall not in any way expand such obligations
or restrictions). The Participant hereby consents to the collection, retention, use, processing and transfer of the Participant’s personal data by the Company and any of its Affiliates, any administrator of the Plan, the Company’s
registrars or brokers for the purposes of implementing and operating the Plan. 
 12. Integration. This Agreement, and the other
documents referred to herein or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. There are no restrictions, agreements, promises, representations, warranties,
covenants or undertakings with respect to the subject matter hereof other than those expressly set forth herein and in the Plan. This Agreement, 

  

 3 

 
including without limitation the Plan, supersedes all prior agreements and understandings between the parties with respect to its subject matter, except to
the extent of any conflict between the provisions hereof and an employment agreement effective on the date hereof. 
 13.
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. 
 14. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware without
regard to the provisions governing conflict of laws. 
 15. Participant Acknowledgment. The Participant hereby acknowledges receipt of
a copy of the Plan. The Participant hereby acknowledges that all decisions, determinations and interpretations of the Committee in respect of the Plan, this Agreement and the Option shall be final and conclusive. The Participant further acknowledges
that, prior to the occurrence of an Initial Public Offering, no exercise of the Option or any portion thereof shall be effective unless and until the Participant has executed the Management Investor Rights Agreement and the Participant hereby agrees
to be bound thereby. Finally, the Participant acknowledges that the Company has satisfied in full its obligations pursuant to Section 5 of the Employment Agreement. 
 *        *        *        *        * 
  

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 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its duly authorized
officer and said Participant has hereunto signed this Agreement on his own behalf, thereby representing that he has carefully read and understands this Agreement, the Plan and the Management Investor Rights Agreement as of the day and year first
written above. 
  

			
	Harrah’s Entertainment, Inc.
		
	By:	 	 /s/    MARY H. THOMAS

	Name:	 	Mary H. Thomas
	Title:	 	Senior Vice President-Human Resources
	
	 /s/    GARY W. LOVEMAN

	Gary W. Loveman

  

				
	 Number of Shares subject to Time-Based Option:
	  	 	466,729
	 Number of Shares subject to 2X Performance Option:
	  	 	274,612
	 Number of Shares subject to 3X Performance Option:
	  	 	274,612
	 Exercise Price for Time-Based Option, 2x Performance Option and 3X Performance Option:
	  	$	100 per Share

  

 5

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