Document:

10-Q

Exhibit 10.1                                            

24 November, 2014

BY HAND
Strictly Private & Confidential

Mr. Michael Olaf Thamm c/o            Costa Crociere S.p.A.

Subject: Compensation package

Dear Mr. Thamm,

Further to our recent discussions, we are pleased to confirm and set below your overall economic treatment and total compensation package for your services under your employment contract and any corporate role or task in favour of Costa Crociere S.p.A. and/or any and all companies belonging to the Carnival Corporation group (the "Group").

This document (the "Addendum") is the only contractual source of your compensation package and entirely replaces and supersedes sections 2, 3 and 4 of your employment contract of July 1st, 2012 (the "Contract") and the entire addendum to the Contract executed on January 24th, 2013 including its annexes.

***

Compensation

Your overall compensation package shall comprise the following items beginning in fiscal 2014 and in all subsequent years subject to changes recommended by Management and approved by the Compensation Committees of the Board of Directors of Carnival Corporation & plc:

		
	(i)
	Fixed salary

You will continue being entitled to an annual fixed salary equal to Euro 700,000.00  (Seven Hundred Thousand/00) gross, to be paid in 13 monthly installments, as per the CLA (as defined in the Contract).

The amount of your annual fixed salary in excess of the minimum wage set forth by the CLA, shall not be subject to annual increases due to the cost of living, shall be absorbed into any future increases in salary arising out of the renewal or modification of the CLA at national, local or Company level and it is expressly granted as advanced payment of future increases in salary provided for by the above contracts.

		
	(ii)
	Variable salary

You will be entitled to participate in the Carnival Corporation & PLC Brand Management 

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Incentive Plan ("BMIP") which is attached to this Addendum as an integral and essential part of it as "Annex A" at an annual Target Bonus equal to Euro 900,000.00 (Nine Hundred Thousand/00) gross. It is hereby understood and agreed that BMIP entirely replaces and supersedes the Costa Crociere CEO Management Incentive Plan so far applied to your employment relationship.

		
	(i)
	Restricted Stock Units and Performance Based Shares

You will continue being eligible to participate in Restricted Stock Unit (“RSU”) grants made pursuant to the Carnival plc 2014 Employee Share Plan (“2014 Plan”), attached to this Addendum as "Annex B", or any successor plan from time to time in force at discretion of the Compensation Committee of Carnival Corporation & PLC. Subject to the Carnival Compensation Committee approval, you shall be eligible for an annual grant equivalent to Euro 650,000.00 (Six Hundred and Fifty Thousand/00) RSUs of Carnival Corporation and Plc, under the terms and conditions of the applicable Plan.

You will continue being eligible to participate in the Performance Based Shares ("PBS") programs made pursuant to the terms of the 2014 Plan or any successor plan from time to time in force at discretion of the Compensation Committee of Carnival Corporation & PLC. Subject to the Carnival Compensation Committee approval, you shall be eligible for an annual target opportunity equivalent to Euro 350,000.00 (Three Hundred and Fifty Thousand/00) PBS of Carnival Corporation and Plc, under the terms and conditions of the applicable Plan.   

		
	(ii)
	Prior Equity Grants

Grants of equity made to you prior to the date of this Addendum, including RSU, PBS and special PBS grants, will continue being regulated by the relevant terms and conditions of the Carnival plc 2005 Employee Share Plan, which is attached to this Addendum as "Annex C".

		
	(iii)
	Additional Benefits

		
	a.
	Insurance

In addition to insurance policies provided by the CLA, the Company shall continue to bear the costs of a health insurance (to be chosen discretionally by the Company) covering also your partner and children.

		
	b.
	Housing allowance

The Company shall continue to pay a yearly housing allowance up to Euro 150,000.00 (One Hundred and Fifty Thousand/00) for your accommodation in Genoa or nearby, for the entire duration of your stay in Italy.

		
	c.
	Car and private jet

The Company shall continue to make available to you a company car with a driver and a jet private charter for business use within Europe.

		
	d.
	Relocation expenses

Further to our discussions we are pleased to confirm that the Company shall also reimburse you the relocation expenses from Hamburg to Genoa, subject to the applicable tax withholdings.

2

It is understood and agreed that the above compensation is inclusive of any possible remuneration due to you for any director or other corporate roles and or offices you may take or have covered within the Company and/or the Carnival Corporation Group.

All other terms and conditions of your employment as per the Contract shall remain unchanged.

If you agree with the above conditions please signed this letter (initialized on each page) for acceptance and express and unconditional approval of its content and return it to us.

Kind regards,

/s/ Jerry Montgomery
Costa Crociere S.p.A.

                                
For acknowledgment of receipt and express acceptance
Genoa, 24 November 2014

/s/ Michael Olaf Thamm
Michael Olaf Thamm

Enclosures:
		
	1.
	Annex A: Carnival Corporation & PLC Brand Management Incentive Plan;

		
	2.
	Annex B: Carnival plc 2014 Employee Share Plan;

		
	3.
	Annex C: Carnival plc 2005 Employee Share Plan

3CANCELLATION
AGREEMENT

 

THIS CANCELLATION
AGREEMENT (the “Cancellation
Agreement”) is made
and entered into as
of the 28th day
of September, 2015, among Lightning
Gaming, Inc.
(the “Company”)
and the persons listed as
the holders of capital stock
(“Stock”) on the signature
pages hereto (collectively,
the “Stock Holders”
and each individually a
“Stock Holder”).

 

WHEREAS,
the parties hereto previously
entered into that
certain Amended and
Restated Voting
Agreement, dated August
6, 2015 (the “Voting Agreement”)
pursuant to which the
parties agreed to vote all
of their Stock for the
election of certain candidates
to the Board of Directors
of the Company
(the “Board”)
as detailed in the
Voting Agreement; and

 

WHEREAS,
the parties hereto have
amicably determined that
it is in their collective best interest
to: (i) cancel the Voting
Agreement; and
(ii) provide for such additional
agreements as
are set forth herein.

 

NOW,
THEREFORE, in consideration
of the mutual covenants
contained in this
Cancellation Agreement,
and for other
good and valuable consideration,
the receipt and
adequacy of which
are hereby acknowledged,
and intending
to be legally bound hereby,
the parties agree
as follows:

 

1.                    
Cancellation of Voting
Agreement.

 

(a)                  
The Voting Agreement shall
be deemed terminated and
of no further
force or
effect as of
the date hereof.

 

(b)                 
The parties acknowledge that no vote
with regard to electing
the members
of the Board took place
between August 6, 2015 and the
date hereof.

 

(c)                  
The parties acknowledge that, as of
the date hereof and
going forward,
each party
shall be able
to vote its Stock with
regard to any votes
put before the Company’s
shareholders (including,
but not limited to, Board elections)
as it sees fit
and without needing
to consult with
any other party.

 

(d)                 
The parties acknowledge that, as of
the date hereof, there
are no individuals
or entities that are
an executive officer
of the Company
or who
own 5% of
the capital stock
of the Company
other than the applicable parties
hereto.

 

(e)                 
For the absence of
doubt, no party hereto shall
have any
right to designate
any full member
of the Board
or any
observer member of
the Board
except in accordance
with the
Company’s Articles
of Incorporation and
Bylaws.

 

(f)                  
For the absence of
doubt, the legend specified in Section
5 of the Voting
Agreement shall not be placed on
any Stock.

 

    	1

    	 

    

 

 

2.                     
Notices. All notices,
requests, consents and other
communications hereunder
shall be in writing
and shall be personally
delivered or delivered by
overnight courier or mailed
by first-class
registered or
certified mail, postage prepaid,
return receipt requested,
or sent by
fax machine, or
sent by electronic
mail, return receipt
requested, addressed
as follows:

 

		(a)	If to the
Co-Investment Fund,
II, L.P.
(“CI-II”):

The Co-Investment Fund, II, L.P.

150 North
Radnor-Chester Road, Suite B101

Radnor, Pennsylvania
19087

Attention:
Brian K. Adamsky

Facsimile: (610) 971-2062

 

		(b)	If to the
Company at:

 

Lightning
Gaming Inc.

23 Creek
Circle, Suite 400

Boothwyn,
Pennsylvania 19061

Attention: Chief Executive Office

Facsimile: (610) 494-6654

 

		(c)	If to
a Stock Holder, to his or
its address on the
books of the Company.

 

3.                     
Integration: Amendments.
This Agreement embodies
the entire agreement and
understanding among
the parties hereto
and supersedes all
prior agreements and understandings
relating to the
subject matter hereof. Unless
otherwise specifically stated herein,
neither this Agreement
nor any
provision hereof may
be waived, modified,
amended or
terminated except as
approved in writing by
(i) the Company,
(ii) CI-II, and
(iii) the Stock Holders
holding more than
50% of the
Stock; provided, further, that
any provision herein
waived, modified, amended or
terminated with the
aforestated approval shall bind
all other parties who
do not consent or
otherwise expressly approve
such waiver, modification, amendment
or termination.

 

4.                  
Governing Law:
Successors and Assigns.
This Agreement shall
be governed by
the laws of the
Commonwealth of Pennsylvania regardless of
laws that might otherwise
govern under
applicable principles of conflicts of
laws and choice of laws thereof,
and shall be
binding upon the heirs, personal
representatives, executors, administrators,
successors and assigns
of the parties.

 

5.                  
Counterparts. This Agreement
may be
executed in two or more
counterparts, each
of which shall be
deemed an original,
but all of which together
shall constitute one and the
same instrument.

 

6.              
Severability. The illegality,
invalidity or
unenforceability of any
provisions of this Agreement
shall not affect the legality, validity
or enforceability
of any
other provisions of this
Agreement.

 

    	2

    	 

    

 

7.             
Telecopy Execution and
Delivery.
A facsimile, telecopy or
other reproduction of this Agreement
may be
executed by one
or more parties hereto,
and an
executed copy of
this Agreement may
be delivered by
one or
more parties hereto by
facsimile or similar
electronic transmission device
pursuant to which the signature of
or on behalf of
such party can
be seen,
and such execution
and delivery shall
be considered valid, binding
and effective for all purposes.
At the request of
any party hereto,
all parties hereto agree
to execute an original
of this Agreement
as well as
any facsimile, telecopy
or other
reproduction hereof.

 

(Signature
Page Follows)

 

    	3

    	 

    

 

 

IN
WITNESS WHEREOF, the
parties hereto have executed this
Agreement as of
the date first set
forth above.

 

COMPANY:

 

LIGHTNING GAMING,
INC.

By: /S/ Brian Haveson

Title:
 CEO

 

 

STOCKHOLDERS:

 

THE CO-INVESTMENT
FUND, II,
L.P.

 

By: Co-Investment
Management II,
L.P.

 Title:
General Partner

 

By: Co-Invest
II Capital Partners,
Inc. 

Title:
General Partner

 

 

By:
/s/ Brian Adamsky

 

 

 

 

Title:
 CFO & Treasurer

 

 

/s/
C. Fred Tecce

C.
Fred Tecce

 

 

/s/
Donald R. Caldwell

Don
Caldwell

 

 

/s/
Brian Haveson

Brian
Haveson

 

 

/s/
Richard Hansen

Richard
Hansen

 

 

/s/
Seth Berger 

Seth
Berger 

 

 

 

4

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