Document:

Other First Lien Secured Party Consent to the Guaranty and Pledge Agreement

 Exhibit 10.5 
 OTHER FIRST LIEN SECURED PARTY CONSENT 
 March 1, 2012

 The undersigned is the Authorized Representative for Persons wishing to become Secured Parties (the “New Secured
Parties”) under the Amended and Restated Guaranty and Pledge Agreement dated as of January 28, 2008 and as amended and restated as of June 10, 2009 (as heretofore amended and/or supplemented, the “Guaranty and Pledge
Agreement” (terms used without definition herein have the meanings assigned to such term in the Guaranty and Pledge Agreement)) among Caesars Entertainment Corporation (formerly known as Harrah’s Entertainment, Inc.)
(“CEC”) and Bank of America, N.A., as Collateral Agent (the “Agent”). 
 In consideration of
the foregoing, the undersigned hereby: 
 (i) represents that the Authorized Representative has been duly
authorized by the New Secured Parties pursuant to Section 11.02(d) of the Base Indenture to become a party to the First Lien Intercreditor Agreement on behalf of the New Secured Parties under the indenture, dated as of February 14, 2012
(the “Base Indenture”), by and among Caesars Escrow Corporation (“Escrow Corp.”), Caesars Operating Escrow LLC (together with Escrow Corp., the “Escrow Issuers”), CEC, as guarantor, and U.S. Bank
National Association, as trustee (the “Trustee”), as supplemented by a supplemental indenture, to be entered into as of the date hereof, among Caesars Entertainment Operating Company, Inc. (“CEOC”), the Escrow
Issuers and the Trustee, pursuant to which CEOC will assume the obligations of the Escrow Issuers under the Base Indenture (the “New Secured Obligation”) and to act as the Authorized Representative for the New Secured Parties;

 (ii) acknowledges that the Authorized Representative has received a copy of the Guaranty and Pledge Agreement
and the First Lien Intercreditor Agreement; 
 (iii) appoints and authorizes the Agent to take such action as
agent on its behalf and on behalf of all other Secured Parties and to exercise such powers under the Guaranty and Pledge Agreement and First Lien Intercreditor Agreement as are delegated to the Agent by the terms thereof, together with all such
powers as are reasonably incidental thereto; 
 (iv) accepts and acknowledges the terms of the First Lien
Intercreditor Agreement applicable to it and the New Secured Parties and agrees to serve as Authorized Representative for the New Secured Parties with respect to the New Secured Obligations and agrees on its own behalf and on behalf of the New
Secured Parties to be bound by the terms thereof applicable to holders of Other First Lien Obligations, with all the rights and obligations of a Secured Party thereunder and bound by all the provisions thereof (including, without limitation,
Section 2.02(b) thereof) as fully as if it had been a Secured Party on the effective date of the First Lien Intercreditor Agreement and agrees that its address for receiving notices pursuant to the Guaranty and Pledge Agreement and the First
Lien Intercreditor Agreement shall be as follows: 
  

							
	  	 	U.S. Bank National Association	  	 
		 	EP-MN-WS3C	  	
		 	60 Livingston Avenue	  	
		 	St. Paul, MN 55107-1419	  	
		 	Attention:	 	Corporate Trust Services	  	
		 		 	Raymond S. Haverstock	  	

 (v) confirms the authority of the Agent to enter into the Security Documents
on its behalf and on behalf of the New Secured Parties and agrees on its own behalf and on behalf of the New Secured Parties to be bound by the terms thereof applicable to it and the New Secured Parties as fully as if it had been a party to each
such agreement on behalf of itself and the New Secured Parties. 
 For the avoidance of doubt, it is acknowledged and agreed
that this Other First Lien Secured Party Consent shall constitute a “Security Document” as defined in the Base Indenture. 
 The Agent, by acknowledging and agreeing to this Other First Lien Secured Party Consent, accepts the appointment set forth in clause (iii) above. 

THIS OTHER FIRST LIEN SECURED PARTY CONSENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK. 

 IN WITNESS WHEREOF, the undersigned has caused this Other First Lien Secured Party Consent
to be duly executed by its authorized officer as of the date and year first set forth above. 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 AS AUTHORIZED REPRESENTATIVE

		
	By:	 	 /s/ Raymond S. Haverstock

		 	Name: Raymond S. Haverstock
		 	Title: Vice President
	
	ACKNOWLEDGED AND AGREED:
	
	 BANK OF AMERICA, N.A.,
 AS COLLATERAL AGENT

		
	By:	 	 /s/ Edward Martin

		 	Name: Edward Martin
		 	Title: Director
	
	CAESARS ENTERTAINMENT CORPORATION
		
	By:	 	 /s/ Jonathan S. Halkyard

		 	Name: Jonathan S. Halkyard
		 	Title: Executive Vice President and Chief Financial Officer

 [Other First Lien Secured Party Consent – Guaranty and Pledge Agreement]2012 Executive Officer Incentive Bonus Plan

 Exhibit 10.1 
 Majesco Entertainment Company 
 2012 Executive Officer Incentive Bonus
Program 
 The 2012 incentive bonus program of Majesco Entertainment Company (the “Company”) applies to the Company’s
executive officers and other management. The program is comprised of two components, a funding component and an allocation component. The funding component is the basis on which the dollar amount of the bonus pool to be allocated among all
participants is calculated and is based on the achievement by the Company of financial and operational goals (the “Goals”). The allocation component is the basis on which the actual bonus amount will be paid to each participant.

 If the Company meets all of the Goals set forth below, the bonus pool for the executive officers will be $488,000 (the “Bonus
Target”). The Bonus Target is determined as follows: 
 GOALS 
 The financial goal accounts for 75% of the Bonus Target, and is determined by a measure of net income as adjusted for certain non-operational items. 

The purpose of the operational goals (the “Operational Goals”) is to provide incentives for activities important to the Company’s
long-term value, outside of immediate financial impact. The Operational Goals account for 25% of the Bonus Target, and address the following areas: 
  

	 	•	 	 Digital Platforms 

	 	•	 	 Franchise Creation 

ALLOCATION 
 The Bonus Target will be
allocated pro rata among the participants based on their target bonus amounts set forth below. If any participant is not entitled to a payment, their pro rata portion will not be allocated to the other participants. 

 

					
	 Name
	 	 Position
	 	 Target Bonus

	Jesse Sutton	 	Chief Executive Officer	 	100% of annual salary, or $363,000
	Michael Vesey	 	Chief Financial Officer	 	50% of annual salary, or $125,000Form of Restricted Stock Agreement for Executive Officers

 Exhibit 10.1 
 RESTRICTED STOCK AGREEMENT 
 FOR OFFICERS 

HERCULES OFFSHORE 
 2004 LONG-TERM INCENTIVE PLAN 
 This Restricted Stock Agreement (the
“Agreement”) is made and entered into by and between Hercules Offshore, Inc., a Delaware corporation (the “Company”), and Participant Name (the “Participant”) as of Grant Date (the “Date of
Grant”). 
 W I T N E S S E T H 
 WHEREAS, the Company has adopted the Amended and Restated Hercules Offshore 2004 Long-Term Incentive Plan (the “Plan”) to strengthen the ability of the Company to attract, motivate and retain
Employees, Outside Directors and Consultants who possess superior capabilities and to encourage such persons to have a proprietary interest in the Company; and 
 WHEREAS, the Compensation Committee of the Board of Directors of Hercules Offshore, Inc. believes that the grant of Restricted Stock to the Participant as described herein is consistent with the stated
purposes for which the Plan was adopted; and 
 NOW, THEREFORE, in consideration of the mutual covenants and conditions
hereafter set forth and for other good and valuable consideration, the Company and the Participant agree as follows: 
 1.
Restricted Stock. In order to encourage the Participant’s contribution to the successful performance of the Company, and in consideration of the covenants and promises of the Participant herein contained, the Company hereby grants to the
Participant as of the Date of Grant, an Award of «Rest_Stk» shares of Common Stock, subject to the conditions and restrictions set forth below and in the Plan (the “Restricted Stock”). 

2. Restrictions on Transfer Before Vesting. 
  

	 	(a)	The Restricted Stock will be transferred of record to the Participant and a certificate or certificates representing said Restricted Stock will be issued in the name of
the Participant immediately upon the execution of this Agreement. Each of such Restricted Stock certificates will bear a legend as provided by the Company, conspicuously referring to the terms, conditions and restrictions as permitted under
Section 6(c) of the Plan. The Company may either deliver such Restricted Stock certificate(s) to the Participant, retain custody of such Restricted Stock certificate(s) prior to vesting (the “Restriction Period”) or require the
Participant to enter into an escrow arrangement under which such Restricted Stock certificate(s) will be held by an escrow agent. The delivery of any shares of Restricted Stock pursuant to this Agreement is subject to the provisions of Paragraph 8
below. 

  

	 	(b)	Absent prior written consent of the Committee, the shares of Restricted Stock granted hereunder to the Participant may not be sold, assigned, transferred, pledged or
otherwise encumbered, whether voluntarily or involuntarily, by operation of law or otherwise, from the Date of Grant until said shares shall have become vested in the Participant over the three-year period following the Date of Grant in accordance
with the following table, or as otherwise provided in Paragraph 3: 

  
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	 Date
	  	Aggregate Percentage of Shares of Restricted
Stock Granted herein which are Vested
	 First Anniversary of Grant Date
	  	33 1/3%
	 Second Anniversary of Grant Date
	  	66 2/3%
	 Third Anniversary of Grant Date
	  	100%

  

	 	(c)	Consistent with the foregoing, except as contemplated by Paragraph 5, no right or benefit under this Agreement shall be subject to transfer, anticipation, alienation,
sale, assignment, pledge, encumbrance or charge, whether voluntary, involuntary, by operation of law or otherwise, and any attempt to transfer, anticipate, alienate, sell, assign, pledge, encumber or charge the same shall be void. No right or
benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities or torts of the person entitled to such benefits. If the Participant or his Beneficiary hereunder shall become bankrupt or attempt to transfer,
anticipate, alienate, assign, sell, pledge, encumber or charge any right or benefit hereunder, other than as contemplated by Paragraph 5, or if any creditor shall attempt to subject the same to a writ of garnishment, attachment, execution,
sequestration, or any other form of process or involuntary lien or seizure, then such right or benefit shall cease and terminate. 

 3. Effect of Termination of Employment or Services. 
  

	 	(a)	The Restricted Stock granted pursuant to this Agreement shall vest in accordance with the vesting schedule reflected in Paragraph 2(b) above, as long as the Participant
remains employed by or continues to provide services to the Company or a Subsidiary. If, however, either: 

  

	 	(i)	the Company and its Subsidiaries terminate the Participant’s employment (or if the Participant is not an Employee, determine that the Participant’s services
are no longer needed), or 

  

	 	(ii)	the Participant terminates employment (or if the Participant is not an Employee, ceases to perform services for the Company and its Subsidiaries),

 for reasons other than the Participant’s death or Disability (as defined in Paragraph 3(b) below), then
the shares of Restricted Stock that have not previously vested in accordance with the vesting schedule reflected in Paragraph 2(b) above, as of the date of such termination of employment (or cessation of services, as applicable), shall be forfeited
by the Participant to the Company. 
  

	 	(b)	 If the Participant’s employment is terminated (whether by the Company and its Subsidiaries or by the Participant) (or if the Participant is not an
Employee, ceases to perform services for the Company and its Subsidiaries) due to the Participant’s (i) death or (ii) Disability, then the shares of Restricted Stock that have not previously vested in accordance with the vesting
schedule reflected in Paragraph 2(b) above, as of the date of such termination of employment (or cessation of services, as applicable), shall vest. For purposes of this Paragraph 3,

  
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“Disability” means (i) the inability of the Participant to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can
be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months or (ii) the receipt of income replacements by the Participant, by reason of any medically determinable physical or mental
impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, for a period of not less than three (3) months under the Company’s accident and health plan.

  

	 	(c)	Notwithstanding Paragraph 3(a) above, upon the cessation of the Participant’s employment or services (whether voluntary or involuntary) for reasons other than
Participant’s death or Disability, the Committee may, in its sole and absolute discretion, elect to accelerate the vesting of some or all of the unvested shares of Restricted Stock. 

4. Limitation of Rights. Nothing in this Agreement or the Plan shall be construed to: 

 

	 	(a)	give the Participant any right to be awarded any further restricted stock or any other Award in the future, even if restricted stock or other Awards are granted on a
regular or repeated basis, as grants of restricted stock and other Awards are completely voluntary and made solely in the discretion of the Committee; 

  

	 	(b)	give the Participant or any other person any interest in any fund or in any specified asset or assets of the Company or any Subsidiary; or 

 

	 	(c)	confer upon the Participant the right to continue in the employment or service of the Company or any Subsidiary, or affect the right of the Company or any Subsidiary to
terminate the employment or service of the Participant at any time or for any reason. 

 5. Prerequisites to
Benefits. Neither the Participant, nor any person claiming through the Participant, shall have any right or interest in the Restricted Stock awarded hereunder, unless and until all the terms, conditions and provisions of this Agreement and the
Plan which affect the Participant or such other person shall have been complied with as specified herein. 
 6. Rights as a
Stockholder. Subject to the limitations and restrictions contained herein, the Participant (or Beneficiary) shall have all rights as a stockholder with respect to the shares of Restricted Stock, including the right to vote and receive dividends;
provided, however, that any dividends attributable to shares of Restricted Stock that have not otherwise vested shall be subject to the same restrictions as the shares of Restricted Stock to which they related until such restrictions lapse and shall
be paid within 60 days following vesting of the Restricted Stock. 
 7. Successors and Assigns. This Agreement shall bind
and inure to the benefit of and be enforceable by the Participant, the Company and their respective permitted successors and assigns (including personal representatives, heirs and legatees), except that the Participant may not assign any rights or
obligations under this Agreement except to the extent and in the manner expressly permitted herein. 

  
 3 

 8. Securities Act. The Company will not be required to deliver any shares of Common
Stock pursuant to this Agreement if, in the opinion of counsel for the Company, such issuance would violate the Securities Act of 1933, as amended (the “Securities Act”) or any other applicable federal or state securities laws or
regulations. The Committee may require that the Participant, prior to the issuance of any such shares, sign and deliver to the Company a written statement, which shall be in a form and contain content acceptable to the Committee, in its sole
discretion (“Investment Letter”): 
  

	 	(a)	stating that the Participant is acquiring the shares for investment and not with a view to the sale or distribution thereof; 

 

	 	(b)	stating that the Participant will not sell any shares of Common Stock that the Participant may then own or thereafter acquire except either: 

 

	 	(i)	through a broker on a national securities exchange or 

  

	 	(ii)	with the prior written approval of the Company; and 

  

	 	(c)	containing such other terms and conditions as counsel for the Company may reasonably require to assure compliance with the Securities Act or other applicable federal or
state securities laws and regulations. 

 9. Federal and State Taxes. 

 

	 	(a)	Any amount of Common Stock that is payable or transferable to the Participant hereunder may be subject to the payment of or reduced by any amount or amounts which the
Company is required to withhold under the then applicable provisions of the Internal Revenue Code of 1986, as amended (the “Code”), or its successors, or any other federal, state or local tax withholding requirement. When the Company is
required to withhold any amount or amounts under the applicable provisions of the Code, the Company shall withhold from the Common Stock to be issued to the Participant a number of shares necessary to satisfy the Company’s withholding
obligations. The number of shares of Common Stock to be withheld shall be based upon the Fair Market Value of the shares on the date of withholding. 

  

	 	(b)	Notwithstanding Paragraph 9(a) above, if the Participant elects, and the Committee agrees, the Company’s withholding obligations may instead be satisfied as
follows: 

  

	 	(i)	the Participant may direct the Company to withhold cash that is otherwise payable to the Participant; 

 

	 	(ii)	the Participant may deliver to the Company a sufficient number of shares of Common Stock then owned by the Participant to satisfy the Company’s withholding
obligations, based on the Fair Market Value of the shares as of the date of withholding; 

  

	 	(iii)	the Participant may deliver sufficient cash to the Company to satisfy its withholding obligations; or 

 

	 	(iv)	any combination of the alternatives described in Paragraphs 9(b)(i) through 9(b)(iii) above. 

  
 4 

	 	(c)	Authorization of the Participant to the Company to withhold taxes pursuant to one or more of the alternatives described in Paragraph 9(b) above must be in a form and
content acceptable to the Committee. The payment or authorization to withhold taxes by the Participant shall be completed prior to the delivery of any shares pursuant to this Agreement. An authorization to withhold taxes pursuant to this provision
will be irrevocable unless and until the tax liability of the Participant has been fully paid. 

 10. Governing
Law. This Award Agreement shall be governed by, construed and enforced in accordance with the laws of the State of Delaware. 
 11. Definitions. All capitalized terms in this Agreement shall have the meanings ascribed to them in the Plan unless otherwise defined in this Award Agreement. 

IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its officers thereunto duly authorized, and the
Participant has hereunto set his hand as of the day and year first above written. 
  

			
	
	HERCULES OFFSHORE, INC.
		
	By:	 	 
	Name:	 	James W. Noe
	Title:	 	 Senior Vice President, General Counsel and
 Chief Compliance Officer

		
	Date:	 	 
	
	PARTICIPANT
		
	Name:	 	 
	Name:	 	Participant Name
		
	Date:	 	 

  
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