Document:

Exhibit No. 10.2

 

PROMISSORY NOTE

(Installment
Payments)

 

	
  $1,000,000.00

  	
  New Hyde Park, New York

  
	
   

  	
  Date:
  January 10, 2005

  

 

For value
received, the undersigned hereby promises to pay to the order of JPMORGAN CHASE
BANK, N.A. (hereinafter the “Bank”) at its offices at 1985 Marcus Ave New Hyde Park,
N.Y.  $1,000,000.00 DOLLARS in 3  5  (select monthly
or quarterly) installments of $27,777.74 each, commencing on February 10, 2005 and continuing on the
10th day
of each Month
(insert “month” or “third month”) thereafter and a final principal
installment of $27,779.10
(or whatever other amount is then required to repay this note in full) on February 10, 2008 and to pay interest
on the unpaid principal balance hereof on each day principal is due hereunder
(including at final maturity) at a per annum rate of 1/2% above the Bank’s
Prime Rate (which shall be the rate of interest as is publicly announced at the
Bank’s principal office from time to time as its Prime Rate), adjusted as of
the date of each such change.  The foregoing
rate shall be computed for the actual number of days elapsed on the basis of a
360-day year, but in no event shall be higher than the maximum permitted under
applicable law.  Interest on any past due
amount, whether at the due date thereof or by acceleration, shall be paid at a
rate of four percent (4%) per annum in excess of the above stated rate, but in
no event higher than the maximum permitted under applicable law.  Time for payment extended by law shall be
included in the computation of interest.

 

The
undersigned hereby grants to the Bank a lien on, security interest in and right
of set-off against all monies, securities and other property of the undersigned
and the proceeds thereof now or hereafter delivered to remain with or in
transit in any manner to the Bank, its correspondents or its agents from or for
the undersigned, whether for safekeeping, custody, pledge, transmission,
collection or for any other purpose, or coming into possession, control or
custody of the Bank, J.P. Morgan Securities Inc., or any other affiliate of the
Bank in any way, and, also, any balance of any deposit account and credits of
the undersigned with, and any other claims of the undersigned against, the
Bank, J.P. Morgan Securities Inc., or any other affiliate of the Bank at any
time existing (all of which are hereinafter collectively called “Collateral”),
as collateral security for the payment of this note and all other liabilities
and obligations now or hereafter owed by the undersigned to the Bank,
contracted with or acquired by the Bank, whether joint, several, direct,
indirect, absolute, contingent, secured, unsecured, matured or unmatured (all
of which are hereafter collectively called “Liabilities”), hereby authorizing
the Bank at any time or times, without notice or demand, to apply any such
Collateral or any proceeds thereof to any of such Liabilities in such amounts
as it in its sole discretion may select, either contingent, unmatured or
otherwise and whether any other collateral security therefor is deemed adequate
or not.  Undersigned authorizes the Bank
to deliver to others a copy of this note as written notification of the
undersigned’s transfer of a security interest in the Collateral.  The Bank further is authorized at any time or
times, without demand or notice to the undersigned, to transfer to or register
in the name of its nominee or nominees all or any part of the Collateral and to
exercise any and all rights, power and privileges (except that prior to an
Event of Default the Bank shall not have the right to vote or to direct the
voting of any Collateral).  The
collateral security and other rights described herein shall be in addition to
any other collateral security described in any separate agreement executed by
the undersigned.

 

1

 

In the event
of: default in the prompt payment of any Liabilities; default in any other
indebtedness of the undersigned (which, for the purposes of this sentence,
means the undersigned or any guarantor, surety or endorser of, or any person or
entity which has pledged any of its property to secure, any Liabilities);
complete or partial liquidation or suspension of any business of the
undersigned; dissolution, merger, consolidation or reorganization of the
undersigned; death of or loss of employment by an individual or any member of
any partnership (if the undersigned is an individual or a partnership); failure
to furnish any financial information or to permit inspection of any books or
records at the Bank’s request; a representation, warranty or statement of the
undersigned proving false in any material respect when made or furnished;
general assignment for the benefit of creditors or insolvency of the
undersigned; commencement of any proceeding supplementary to any execution relating
to any judgment against the undersigned; attachment, distraint, levy, execution
or final judgment against the undersigned or against the property of the
undersigned; assignment by the undersigned of any equity in any of the
Collateral without the written consent of the Bank; appointment of a receiver,
conservator, rehabilitator or similar officer for the undersigned, or for any
property of the undersigned; tax assessment by the United States Government or
any state or political subdivision thereof against the undersigned; the taking
of possession of, or assumption of control over, all or any substantial part of
the property of the undersigned by the United States Government, or any state
or political subdivision thereof, foreign government (de facto or de jure) or
any agency of any thereof; calling of a meeting of creditors, assignment for
the benefit of creditors or bulk sale or notice thereof; any mortgage, pledge
of or creation of a security interest in any assets without the consent of the
holder of this note; filing of a petition in bankruptcy, commencement of any
proceeding under any bankruptcy or debtor’s law (or similar law analogous in
purpose or effect) for the relief, reorganization, composition, extension,
arrangement or readjustment of any of the obligations by or against the
undersigned; then, and in any of those events (each, an “Event of Default”),
all Liabilities, although otherwise unmatured or contingent, shall forthwith
become due and payable without notice or demand and notwithstanding anything to
the contrary contained herein or in any other instrument.  Further, acceptance of any payments shall not
waive or affect any prior demand or acceleration of these Liabilities, and each
such payment made shall be applied first to the payment of accrued interest,
then to the aggregate unpaid principal or otherwise as determined by the Bank
in its sole discretion.  The undersigned
hereby irrevocably consents to the in personam jurisdiction of the
federal and/or state courts located within the State of New York over
controversies arising from or relating to this note or the Liabilities and irrevocably waives trial by jury and the right to interpose
any counterclaim or offset of any nature in any such litigation.  The undersigned further irrevocably waives
presentment, demand, protest, notice of dishonor and all other notices or
demands of any kind in connection with this note or any Liabilities.  The undersigned shall be jointly and
severally liable hereon.

 

The Bank may,
at its option, at any time when in the judgment of the Bank the Collateral is
inadequate or the Bank deems itself insecure, or upon or at any time after the
occurrence of an Event of Default, proceed to enforce payment of the same and
exercise any of or all the rights and remedies afforded the Bank by the Uniform
Commercial Code as in effect from time to time (the “Code’’) or otherwise
possessed by the Bank.  Any requirement
of the Code for reasonable notice to the undersigned shall be deemed to have
been complied with if such notice is mailed, postage prepaid, to the
undersigned and such other persons entitled to notice, at the addresses shown
on the records of the Bank at least four (4) days prior to the time of sale,
disposition or other event requiring notice under the Code.

 

2

 

The
undersigned agrees to pay to the Bank, as soon as incurred, all costs and
expenses incidental to the care, preservation, processing, sale or collection
of or realization upon any of or all the Collateral or incurred in connection
with the enforcement or collection of this note, or in any way relating to the
rights of the Bank hereunder, including reasonable inside or outside counsel
fees and expenses.  Each and every right
and remedy hereby granted to the Bank or allowed to it by law shall be
cumulative and not exclusive and each may be exercised by the Bank from time to
time and as often as may be necessary. 
The undersigned shall have the sole responsibility for notifying the
Bank in writing that the undersigned wishes to take advantage of any
redemption, conversion or other similar right with respect to any of the
Collateral.  The Bank may release any
party (including any partner or any undersigned) without notice to any of the
undersigned, whether as co-makers, endorsers, guarantors, sureties, assigns or
otherwise, without affecting the liability of any of the undersigned hereof or
any partner of any undersigned hereof.

 

Upon any
transfer of this note, the undersigned hereby waiving notice of any such transfer,
the Bank may deliver the Collateral or any part thereof to the transferee who
shall thereupon become vested with all the rights herein or under applicable
law given to the Bank with respect thereto and the Bank shall thereafter
forever be relieved and fully discharged from any liability or responsibility
in the matter; but the Bank shall retain all rights hereby given to it with
respect to any Liabilities and Collateral not so transferred.  No modification or waiver of any of the
provisions of this note shall be effective unless in writing, signed by the
Bank, and only to the extent therein set forth; nor shall any such waiver be
applicable except in the specific instance for which given.  This agreement sets forth the entire
understanding of the parties, and the undersigned acknowledges that no oral or
other agreements, conditions, promises, understandings, representations or
warranties exist in regard to the obligations hereunder, except those
specifically set forth herein.

 

If the
undersigned is a partnership, the agreement herein contained shall remain in
force and applicable, notwithstanding any changes in the individuals composing
the partnership or any release of any partner or partners and their partners
shall not thereby be released from any liability.  If this note is signed by more than one
party, the terms “undersigned”, as used herein, shall include mean the “undersigned
and each of them” and each undertaking herein contained shall be their joint
and several undertaking, provided, however, that in the phrases “of the
undersigned”, “by the undersigned”, “against the undersigned”, “for the
undersigned”, “to the undersigned”, and “on the undersigned”, the term “undersigned”
shall mean the “undersigned or any of them”; and the Bank may release or exchange
any of the Collateral belonging to any of the parties hereto and it may renew
or extend any of the liabilities of any of them and may make additional
advances or extensions of credit to any of them or release or fail to set off
any deposit account or credit to any of them or grant other indulgences to any
of them, all from time to time, before or after maturity hereof, with or
without further notice to or assent form any of the other parties hereto.  Each reference herein to the Bank shall be
deemed to include its successors, endorsees and assigns, in whose favor the
provisions hereof shall also inure.  Each
reference herein to the undersigned shall be deemed to include the heirs,
executors, administrators, legal representatives, successors and assigns of the
undersigned, all of whom shall be bound by the provisions hereof.  This note may be pledged or assigned by the
Bank to any Federal Reserve Bank.

 

3

 

The
provisions of this note shall be construed and interpreted and all rights and
obligations hereunder determined in accordance with the laws of the State of
New York, and, as to interest rates,
applicable Federal law.

 

	
  Proginet Corporation

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Debra A. D. Maria

  	
   

  	
  By:

  	
  /s/
  Dan Mancini

  
	
   

  	
   

  	
   

  
	
  Name
  & Title:

  	
  Debra
  A. D. Maria, CFO

  	
   

  	
  Name
  & Title:

  	
  Dan
  Mancini, VP

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  200 Garden City Plaza

  	
   

  	
  Address:

  	
   

  
	
   

  	
   

  	
   

  
	
  Garden City New York 11530

  	
   

  	
   

  
									

 

4EXHIBIT
4.2

 

AMENDMENT
NUMBER ONE

TO
THE ALLIANCE GAMING CORPORATION

AMENDED
AND RESTATED

2001
LONG-TERM INCENTIVE PLAN

 

WHEREAS, Alliance Gaming Corporation (“the Company”) has
adopted the Alliance Gaming Corporation Amended and Restated 2001 Long Term Incentive
Plan (the “Plan”) which plan was originally approved by the stockholders of the
Company on December 11, 2001, and amended and restated as of June 30, 2004.

 

WHEREAS, the Company
has determined that an amendment should be made to the Plan to increase the
number of shares of the Common Stock issuable thereunder to 10,000,000 shares,
which increase was approved by affirmative vote of the holders of a majority of
the shares of the Company’s voting stock at the annual stockholders meeting
held on December 8, 2004.

 

WHEREAS, the Company is authorized to amend the Plan pursuant
to Section 18 thereof.

 

NOW, THEREFORE, the Plan is hereby amended as
follows:

 

1.                                     That the first sentence of
section 3 of the Plan is amended by replacing 7,500,000,

with 10,000,000, so that the first sentence of
section 3, as amended, reads in its entirety as

follows:

 

       “Limitation
on Number of Shares.  The
number of shares which may at any time be made subject to options or Stock
Appreciation Rights, or which may be issued upon the exercise of options or
Stock Appreciation Rights granted under the Plan or made subject to grants of
restricted stock or restricted stock units, is limited to an aggregate of
10,000,000 shares of the common stock, $.10 par value, of the Company (the “Stock”).

 

Executed this 8th day of December, 2004, to be effective as of the date
hereof.

 

	
   

  	
  ALLIANCE GAMING
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mark Lerner,

  	
   

  
	
   

  	
  Mark Lerner, Secretary

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