Document:

Exhibit

Exhibit 10.1
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
This Amendment No. 1 to Employment Agreement (this “Amendment”) is made as of this 8th day of April, 2016, by and between Caesars Enterprise Services, LLC (“CES”) and Tariq M. Shaukat (“Executive”) (collectively, the “Parties”).
WHEREAS, Caesars Entertainment Operating Company, Inc. (“CEOC”) and Executive are parties to that certain Employment Agreement, dated as of April 2, 2012, which Employment Agreement has been assigned by CEOC to CES (the “Existing Agreement”); 
WHEREAS, Executive is contemplating relocation outside of Las Vegas, Nevada for personal family reasons, and Executive and CES are collaborating to ensure a seamless transition in connection with any such resignation; and
WHEREAS, each of CES and Executive desire to amend the Existing Agreement on the terms and subject to the conditions set forth in this Amendment.
NOW, THEREFORE, in exchange for good and valuable consideration, the sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:
1.Definitions.  Capitalized terms used and not otherwise defined herein shall have the respective meanings assigned to such terms in the Existing Agreement.
2.    Commitment to Continue.  Executive agrees that he shall not voluntarily terminate his employment with CES with an effective date of termination on or prior to May 31, 2016.     
3.    Qualifying Termination: For purposes of this Amendment, a “Qualifying Termination” shall be the Executive’s resignation and termination of employment with CES with an effective date of termination on or after May 31, 2016 after having provided the notice contemplated by the Existing Agreement; provided, however, that Executive’s resignation and termination of employment with CES with an effective date of termination after December 31, 2016 shall not be a “Qualifying Termination”.
4.    Certain Benefits Upon Qualifying Termination.   Subject to Executive’s execution and non-revocation of a customary release and compliance with the provisions of the Existing Agreement, including without limitation compliance with Section 11 of the Existing Agreement for a period of 18 months commencing on the date Executive’s employment with CES terminates (i.e., the “Non-Compete Period”) and compliance with Section 12 of the Existing Agreement, CES agrees that, upon a Qualifying Termination:
		
	(a)
	Executive shall be entitled to the amounts contemplated by Section 8.1(b)(ii) of the Existing Agreement as if Executive had resigned his position for Good Reason (as defined in the Existing Agreement); however, Executive shall not be entitled the amounts contemplated by Section 8.1(b)(ii)(A) and Section 8.1(b)(ii)(B) of the Existing Agreement;

719127765 15482999

		
	(b)
	Executive shall also be entitled to a pro rata bonus calculated through the date of termination, corresponding to the year in which the termination of employment occurs.  Such bonus is to be paid at the same time and in the same manner in which CES pays annual bonuses to its similarly situated active officers (but not later than March 15 of the calendar year following Executive’s termination of employment). The bonus shall be determined and adjusted based on the bonus pool determined by the CES Board of Directors, and shall be paid subject to the same criteria, and at the target bonus percentage applicable to similarly situated active officers of CES;

		
	(c)
	each option to purchase Caesars Entertainment Corporation (“Caesars”) common stock issued to Executive by Caesars and which is outstanding and unexercised (“Caesars Options”) shall, to the extent unvested, be vested and thereafter be exercisable in accordance with its respective terms. Expiration for all Caesars Options shall be as defined for Good Reason in the respective Caesars Options plans, including in Section 4(a) of the 2012 Performance Incentive Plan Nonqualified Option Award Agreement issued to Executive, and Section 6.4 of the Caesars Entertainment Corporation 2012 Performance Incentive Plan; and  

		
	(d)
	each restricted stock unit in respect of Caesars Entertainment Corporation or Caesars Acquisition Company common stock issued to Executive by Caesars and which is outstanding and unvested shall be vested. For the avoidance of doubt, settlement in respect of these restricted stock units shall occur in accordance with the terms of the respective plans under which they were issued (which, in the case of Caesars Acquisition Company, is scheduled to occur in October 2016) and Executive acknowledges and agrees that Caesars Entertainment Corporation and Caesars Acquisition Company shall be entitled to withhold shares to the extent necessary to satisfy tax withholding obligations.

For the avoidance of doubt, for the purposes of the Existing Agreement, Stock Award Agreements, Restricted Stock Agreements, and Caesars Options Agreements, a Qualifying Termination shall be considered a resignation for Good Reason, except as explicitly specified in Section 4(a) above. Further, for the avoidance of doubt, Executive reserves and maintains the right to resign for Good Reason as defined in the Existing Agreement, with no modifications to the benefits provided in Section 8.1(b)(ii) of the Existing Agreement, but without entitlement to the additional benefits provided in Section 4 of the present Amendment unless otherwise provided in the Existing Agreement. 
In the event Executive fails to execute or revokes a release as provided above or to comply with Section 11 of the Existing Agreement for the Non-Compete Period, CES shall have no further obligations to Executive under this Amendment or the Existing Agreement and any Caesars Options shall terminate immediately.  

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719127765 15482999

5.    Section 409A Compliance.  This Amendment is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the "Code") (including the exceptions thereto), to the extent applicable, and the provisions of this Amendment will be administered, interpreted and construed accordingly. If any provision contained in the Amendment conflicts with the requirements of Section 409A of the Code, the Amendment shall be deemed to be reformed so as to comply with the requirements of Section 409A of the Code (or the applicable exemptions thereto). Notwithstanding anything to the contrary herein, to the extent permitted under Section 409A of the Code, each payment described under Section 4 of this Amendment, or Section 8 or Exhibit A of the Existing Agreement shall be deemed to be a separate payment for purposes of Section 409A of the Code.
6.    Withholding.  For the avoidance of doubt, Section 26 of the Existing Agreement applies to any payment or benefit provided to Executive pursuant to this Amendment.
7.    No Other Amendments.  Except as expressly set forth herein, the Existing Agreement shall remain in full force and effect and shall not be amended or modified.
8.    Governing Law.  This Amendment, and any disputes which arise in connection with this Amendment, shall be governed by Sections 21 and 22 of the Existing Agreement as if such provisions were set forth herein.
9.    Counterparts. This Amendment may be executed in any number of counterparts and signatures may be delivered by facsimile, each of which may be executed by less than all parties, each of which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one instrument.

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719127765 15482999

IN WITNESS WHEREOF, the parties have entered into this Agreement as of the date first written above.
CAESARS ENTERPRISE SERVICES, LLC

By:  /s/ Mark Frissora
Name:  Mark Frissora
Title: President and Chief Executive Officer

 
/s/ Tariq M. Shaukat
Tariq M. Shaukat

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719127765 15482999Exhibit 4.1

 

AMENDMENT NO. 1 TO THE RIGHTS AGREEMENT

 

AMENDMENT NO. 1, dated as of April 8, 2016
(the “Amendment”) to the Rights Agreement dated as of April 9, 2013 (the “Rights Agreement”),
between Gain Capital Holdings, Inc., a Delaware corporation (the “Company”), and Broadridge Corporate Issuer
Solutions, Inc., a Delaware corporation, as Rights Agent (the “Rights Agent”). Capitalized terms used, but not
otherwise defined herein, shall have the respective meanings ascribed to such terms in the Rights Agreement.

 

WHEREAS, Section 24 of the Rights Agreement
permits the Company to amend the Rights Agreement in the manner provided therein at any time prior to the occurrence of a Section
9(a)(ii) Event; and

 

WHEREAS, no Section 9(a)(ii) Event has occurred
as of the date hereof.

 

NOW, THEREFORE, the Rights Agreement is
hereby amended as follows:

 

Section 1.Amendments to Rights Agreement.
The Rights Agreement is hereby amended as follows:

 

(a)The definition of “Final Expiration
date” in Section 1 of the Rights Agreement is hereby amended and restated in its entirety to read as follows:

 

““Final Expiration
Date” means the close of business on April 9, 2019.”

 

(b)In Exhibit B and Exhibit
C of the Rights Agreement, all references to “April 9, 2016” are amended and restated so that such references read
“April 9, 2019”.

 

(c)In Section 1, Exhibit B and
Exhibit C of the Rights Agreement, all references to “$17.00” are amended and restated so that such references
read “$27.50”.

 

Section 2.Certification. This
Section 2 shall constitute a certificate from an Authorized Officer of the Company for purposes of Section 24 of the Rights Agreement,
and the Company and the Authorized Officer signing this Amendment below, on behalf of the Company, (i) hereby certify that this
Amendment is in compliance with the terms of Section 24 of the Rights Agreement and (ii) request and direct that the Rights Agent
execute and deliver this Amendment, in accordance with Section 24.

 

Section 3.Effective Date. This
Amendment is effective as of April 8, 2016.

 

Section 4.Full Force and Effect.
Except as expressly amended hereby, the Rights Agreement shall continue in full force and effect unamended and in accordance with
the provisions thereof on the date hereof.

 

Section 5.Governing Law. This
Amendment shall be governed by and construed in accordance with the laws of the State of Delaware applicable to contracts to be
made and performed entirely within such State.

 

    	 

     

    

Section 6.Severability. If any
term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or other authority to be
invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment shall remain
in full force and effect and shall in no way be affected, impaired or invalidated.

 

Section 7.Counterparts. This
Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and all of which together shall
constitute one and the same instrument.

 

[Signature Page Follows]

 

    	2

     

    

 

IN WITNESS WHEREOF, the Company has caused
this instrument to be duly executed under its corporate seal by its authorized officers.

 

Dated as of April 8, 2016

 

	GAIN CAPITAL HOLDINGS, INC.
	 
	By:	/s/ Diego Rotsztain
	 	Name:	Diego Rotsztain
	 	Title:	EVP, General Counsel and Secretary

 

    
[Signature Page to Amendment No. 1 to Rights Agreement]

     

    

Countersigned:

 

	Broadridge Corporate

                    Issuer Solutions, Inc.
 as Rights Agent

	 
	 
	By:	/s/ John P. Dunn
	 	Name:	John P. Dunn
	 	Title:	Vice President

 

    
[Signature Page to Amendment No. 1 to Rights Agreement]

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