Document:

Date:    March 6, 2003

To:      Seamus McGill

From:    Brian Gamache

Re:      Relocation

This letter documents our understanding concerning my request that you relocate
to Chicago, Illinois to work from our Chicago Technology campus ("Relocation").
In recognition of the financial implications this Relocation may impose on you,
the Company is prepared to offer you the following Relocation package
("Relocation Package"):

    o   To compensate you for the incremental increase in cost of living
        expenses from Las Vegas to Chicago, the Company will pay you a stipend
        of $5,000 per month (or such proportionate amount for a partial month),
        beginning March 1, 2003 (the "Stipend Amount"). This Stipend Amount will
        be grossed-up annually to cover your personal Federal and Illinois state
        income taxes based on your estimated personal tax rate and will be paid
        separately from your base salary. This Stipend Amount will not be
        included in the calculation of any bonus, merit increase or other
        benefit payable to you by the Company, nor will it be eligible for
        401(k) withholding. You have committed to moving your personal
        belongings to the Chicago metro area by April 15, 2003; if the
        Relocation does not occur by that date, the Stipend Amount will cease
        until such time as the Relocation does occur.

    o   After September 1, 2003, both you and the Company will have the right to
        terminate your Relocation upon 90-days written notice. If the Company
        terminates the Relocation is terminated for any reason, the Company will
        reimburse you for your costs to move your personal belongings, including
        one car, to Las Vegas, Nevada; further, you will continue to receive the
        Stipend Amount for the lesser of (i) four months from the date on which
        the Relocation is terminated, or (ii) until the actual date of your
        return to Las Vegas, Nevada.

    o   The Company will withhold Illinois state income taxes from your
        compensation once you have established an Illinois residence. All such
        income taxes will be your personal obligation.

    o   The Company will reimburse you up to $2,800 annually for costs actually
        incurred in the periodic maintenance of your landscaping and swimming
        pool for your home located at 9921 Laurel Springs Rd. Las Vegas, Nevada
        89134. Such costs will be reimbursed only upon presentation of actual
        receipts.

    o   The Company will reimburse you for costs actually incurred to move your
        personal belongings, including one car, from Las Vegas to Chicago or its
        suburbs. Such costs will be reimbursed only upon presentation of actual
        receipts.

    o   The Company will continue to reimburse your dues for the TPC Summerlin
        Country Club in Las Vegas, Nevada for the duration of the Relocation. In
        addition, the Company will add your name to its corporate membership at
        The Glen Club in Glenview, Illinois.

By signing this letter in the space provided below, you agree that the amounts
set forth in the Relocation Package constitute the only amounts owed to you by
the Company for any costs, including without limitation cost of living
increases, real estate transaction fees and costs and income taxes, that may
become incurred by you as a result of your Relocation at the Company's request.

                                                         /s/ Brian Gamache
                                                         --------------------
                                                         Brian Gamache
                                                         President and CEO

Accepted and agreed to this 7th day of March, 2003:

/s/ Seamus McGill
--------------------
Seamus McGill<PAGE>
                                                                    EXHIBIT 10.2

November 22, 2002

Ms. Kathleen McJohn
4 North 550 School Road
St. Charles, IL  60175

Dear Kathleen,

         On behalf of Orrin Edidin, I am pleased to offer you a position with
WMS Industries Inc. ("WMS") as Vice President, General Counsel and Secretary.
You will receive a bi-weekly salary of $9,230.77, ($240,000.02 annualized). You
will also be entitled to a fiscal year-end performance bonus (prorated for the
first year) with an opportunity of up to 50% of your base salary. Your start
date is to be determined and in this position, you will be reporting to Orrin
Edidin, Executive Vice President, and Chief Operating Officer.

         Upon the commencement of your employment, a recommendation to the Stock
Option Committee of the WMS Board of Directors will be made for a stock option
grant of 50,000 options to vest over a four-year period and to be priced at the
market price on the day of grant. Such grant may be subject to certain
restrictive covenants.

         To assist with your relocation needs, we will provide up to $10,000.00
to cover reasonable and customary relocation expenses payable upon providing
receipts. You will be required to repay the entire amount of the relocation
assistance should you leave the company for any reason within one year from your
start date.

         You will be eligible for all standard WMS benefits (including
Exec-U-Care supplemental medical coverage) after you meet the eligibility period
requirements applicable to each such benefit. Please see the enclosed materials
for more information concerning benefits. In the event your employment is
terminated by the Company without cause, you will be entitled to salary
continuation for six (6) months.

         Our employment offer is contingent upon (a) your passing a post-offer
drug test, (b) your truthful completion of the enclosed WMS Background
Questionnaire, (c) the conduct of a background investigation by WMS
Investigation Services, (d) your signing the attached Inventions, Intellectual
Material and Confidentiality Agreement, and (e) the acceptance of the results of
the investigation is at the sole discretion of WMS. You represent to WMS that
you are not subject to any restriction, contractual or otherwise, which would
prevent you from accepting this offer of employment or working for WMS.

         Please understand that nothing in this letter is intended to create an
express or implied contract of employment. Your employment with WMS will be
at-will, and while we hope your association with us will be long-term, both you
and WMS may terminate the employment relationship at any time, with or without
cause.

         If you accept this offer of employment, the post-offer drug test must
be completed at least five (5) full business days prior to your start date.
Please call Yvonne Tagge in Human Resources at 847-785-3739 to make your
appointment. Also, please bring your driver's license and Social Security card
on your start date.

         Please indicate your acceptance of this offer of employment by signing
and returning one copy of this letter and the forms enclosed in the envelope
provided. When filling out the forms, please make sure to include the full
spelling of your name including your middle name. We also need you to send a
legible photocopy of your driver's license clearly showing your date-of-birth
for the conduct of the background investigation. Again, welcome to WMS and we
look forward to the prospect of you joining our company.

<PAGE>
         If you have any questions, please contact me at 847-785-3767.

Sincerely,

/s/ Michael A. Komenda
-------------------------------
Michael A. Komenda
Vice President, Human Resources

Enclosure

Accepted this 23rd day of November 2002

By:  /s/ Kathleen McJohn
     -----------------------<PAGE>
                                                                    EXHIBIT 10.3

                        PURCHASE AND SETTLEMENT AGREEMENT

 This Purchase and Settlement Agreement is entered into by and between WMS
INDUSTRIES INC., a Delaware corporation (the "Company"), and LOUIS J. NICASTRO
("Grantee"), a Florida resident, as of May 7, 2003.

                                    RECITALS

        A.  The Company has previously granted to Grantee 250,000 shares of its
            common stock, $.50 par value (the "Restricted Shares"), subject to
            certain vesting conditions set forth in a Restricted Stock Agreement
            dated March 1, 2002 (the "Restricted Stock Grant").

        B.  The Board of Directors of the Company has determined as of the date
            hereof that (a) the Grantee has met the performance conditions for
            the vesting of the Restricted Shares and (b) the revisions to the
            Company's legacy operating system has been approved by gaming
            regulators in major jurisdictions and have reached an acceptable
            level of field performance, such that the only remaining condition
            for vesting of the Restricted Stock Grant is the occurrence of June
            30, 2003.

        C.  The Board of Directors of the Company has further determined that,
            based on the recent appreciation in the market price of the common
            stock of the Company and the corresponding increase in the
            compensation expense to the Company in connection with the vesting
            of the Restricted Shares, it is in the best interests of the Company
            to purchase Grantee's right to the Restricted Shares which are the
            subject of the Restricted Stock Grant at $14.00 per share,
            representing a discount of $0.50 per share from the market price of
            the common stock of the Company as of the close of business on May
            6, 2003.

        D.  The Company is willing to purchase and Grantee is willing to sell
            his rights under the Restricted Stock Grant on the terms set forth
            below.

                                    AGREEMENT

NOW, THEREFORE, in consideration of the mutual covenants and promises contained
herein and for other good and valuable consideration, the receipt and adequacy
of which is hereby acknowledged, the parties hereto agree as follows:

        1.  Purchase of Rights. Upon the terms and subject to the conditions set
            forth herein, Grantee hereby sells to the Company his rights to the
            Restricted Shares under the Restricted Stock Grant. In consideration
            for the Restricted Shares and the termination of Grantee's rights
            under the Restricted Stock Grant, the Company agrees to pay to
            Grantee an amount equal to Three Million Five Hundred Thousand
            Dollars ($3,500,000). Payment will be made within one (1) business
            day of the date hereof via wire transfer to an account in Grantee's
            name, as directed by Grantee.

        2.  Return of Restricted Shares. Within one (1) business day of the date
            hereof, Grantee shall endorse the Restricted Shares to the Company
            and shall deliver to the Company the certificate(s) representing
            such Restricted Shares.

        3.  Non-Solicitation and Non-Compete. Grantee agrees that, prior to June
            30, 2010, he will not, directly or indirectly, without the prior
            written consent of the Company, induce or influence, or seek to
            induce or influence, any person who is engaged by the Company or any
            affiliate of the Company as an employee, agent, independent
            contractor or otherwise, to terminate his employment or engagement,
            nor shall he directly or indirectly, through any person, firm or
            corporation, employ or engage, or solicit for employment or
            engagement, or advise or recommend to any other person or entity
            that such person or entity employ or engage or solicit for
            employment or engagement, any person or entity employed or engaged
            by the Company or any affiliate of the Company. In addition, Grantee
            agrees that the non-compete provisions of paragraph 8(a) of the
            employment agreement dated September 2, 1999 between Grantee and the
            Company will continue in effect during Grantee's lifetime.

        4.  Termination and Release of Restricted Stock Grant. Grantee hereby
            agrees to terminate the Restricted Stock Grant effective as of the
            date hereof and that such Grant will have no further force or
            effect. Grantee further releases and discharges the Company from all
            claims that Grantee has or may have had under the Restricted Stock
            Grant.

<PAGE>
IN WITNESS WHEREOF, the parties have executed this Purchase and Settlement
Agreement as of the date set forth above.

WMS INDUSTRIES INC.                             GRANTEE

By: /s/ Brian R. Gamache                        /s/ Louis J. Nicastro
    -----------------------                     --------------------------
    Brian R. Gamache                            Louis J. Nicastro
    President and Chief
    Executive Officer

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