Document:

Post-Employment Agreement

 Exhibit 10.27 
  
 POST EMPLOYMENT AGREEMENT 
  
 THIS POST EMPLOYMENT AGREEMENT (“AGREEMENT”), is made and entered into on December 3, 2003, by and between
MIKOHN GAMING CORPORATION, a Nevada corporation (“MIKOHN”), and Denny Garcia (“GARCIA”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, MIKOHN and GARCIA deem it to be in their respective best interests to enter into an AGREEMENT pursuant to the terms herein stated and conclude GARCIA’s employment as of December 31, 2003; 
  
 NOW, THEREFORE, in consideration of the premises and the mutual promises and
agreements contained herein, it is hereby agreed as follows: 
  

	 	1.	Payment. MIKOHN shall pay to GARCIA a payment (the “Settlement Payment”) equal to $600,000 USD in full and final satisfaction of all
obligations of MIKOHN to GARCIA pursuant to that certain Employment Agreement dated January 1, 2000 as well as all related amendments pertaining thereto (Collectively, “Employment Agreement”). The Settlement Payment shall be in thirty-six
(36) monthly payments of $16,666.66 USD commencing January 1, 2004 and continuing on the first of each month thereafter for the remaining thirty-five (35) months. 

  

	 	2	Medical Benefits & Life Insurance. MIKOHN agrees that GARCIA will be offered medical benefits for himself under the same terms as he received them
prior to the execution of this Agreement. The medical benefits granted hereunder shall extend to his spouse for vision coverage only. These executive medical benefits will expire on December 31, 2006. Additionally, MIKOHN agrees to disclaim any
interest it has in GARCIA’s Life Insurance Policy that MIKOHN established during GARCIA’s employment. GARCIA acknowledges that upon execution of this Agreement, he shall assume all responsibility for premium payments associated with such
policy going forward. 

  

	 	3	Vacation Pay. In addition to the Settlement Payment payable hereunder, GARCIA shall receive payment for all vacation time earned and unused up through and
including December 31, 2003. (“Vacation Payment”) This Vacation Payment shall be made in conjunction with the first installment of the Settlement Payment on January 1, 2004. 

  

	 	4	Consultancy Agreement. In further consideration of the Settlement Payment, up through and including December 31, 2006, GARCIA agrees to be available for
reasonable sales consultation to MIKOHN at no additional cost, the scope and objectives of which shall be within MIKOHN’s sole and reasonable discretion. At all times until December 31, 2006, GARCIA’s relationship with MIKOHN shall be one
of an independent contractor. 

  

	 	5	Contractor’s License. GARCIA agrees to allow MIKOHN to retain the use of GARCIA’s Contractor’s license in the State of Nevada as necessary and
applicable, until such time as MIKOHN separately completes the necessary qualification process for this license. MIKOHN agrees to separately compensate GARCIA in a reasonable manner for this service in a market rate for services of this type that is
mutually agreed between the parties. 

  

	 	6	P & M Platform. Upon execution of this AGREEMENT, MIKOHN agrees to provide GARCIA with a non-exclusive, royalty-free license, with no right to sub-license,
the intellectual property comprising the P& M game platform until December 31, 2006. MIKOHN and GARCIA agree to separately negotiate a price for any other tangible P& M platform assets, should GARCIA be interested in acquiring
same. 

  

	 	7	Laptop. GARCIA shall be entitled to retain and keep two (2) laptops mutually agreed between the parties for his own personal use. 

  

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	 	8	Covenant of Confidentiality. All documents, records, files, manuals, forms, materials, supplies, computer programs, trade secrets, customer lists, and
other information which came into GARCIA’s possession from time to time during GARCIA’s employment by MIKOHN, and/or any of MIKOHN’s subsidiaries or affiliates, shall be deemed to be confidential and proprietary to MIKOHN and shall
remain the sole and exclusive property of MIKOHN. GARCIA acknowledges that all such confidential and proprietary information is confidential and proprietary and not readily available to MIKOHN’s business competitors. GARCIA agrees that GARCIA
will return to MIKOHN all such confidential and proprietary items (including, but not limited to, company badge and keys) in GARCIA’s control or possession, and all copies thereof, and that GARCIA will not remove any such items from the offices
of MIKOHN. It is the intention of the parties that the broadest possible protection be given to MIKOHN’s trade secrets and proprietary information and nothing in this Section shall in any way be construed to narrow or limit the protection and
remedies afforded by the Uniform Trade Secrets Act. 

  

	 	9	Covenant of Non-Disclosure. Without the prior written approval of MIKOHN, GARCIA shall keep confidential and not disclose or otherwise make use of any of
the confidential or proprietary information or trade secrets referred to in this AGREEMENT nor reveal the same to any third party whomsoever, except as required by law. 

  

	 	10	Covenant of Non-Solicitation. 

  
 Employees. For a period of one (1) year from the date hereof, GARCIA, either on GARCIA’s own account or for any person, firm,
company or other entity, shall not solicit, interfere with or induce, or attempt to induce, any employees of MIKOHN, or any of its subsidiaries or affiliates to leave their employment or to breach their employment AGREEMENT, if any, with MIKOHN.

  
 Customers. For a period of one (1) year from
the date hereof, GARCIA, either on GARCIA’s own account or for any person, firm, company or other entity, shall not solicit or induce, or attempt to induce, any customer of MIKOHN to purchase any products or services which compete with any
products or services offered by MIKOHN at the time of the termination of the employment relationship. 
  

	 	11	Covenant of Cooperation and Assistance. In consideration of the payments made under this AGREEMENT to GARCIA by MIKOHN, upon request by MIKOHN, GARCIA
agrees to cooperate with and assist MIKOHN in any matters with which GARCIA was involved during GARCIA’s employment by MIKOHN including, but not limited to, any administrative or legal matters. MIKOHN shall reimburse GARCIA for reasonable
out-of-pocket expenses incurred in providing such assistance. 

  

	 	12	Covenant Against Competition. For a period of two (2) years from the date hereof (the “Non-Compete Term”), GARCIA shall not directly or
indirectly engage in or become a partner, officer, principal, employee, consultant, investor, creditor or stockholder of any business, proprietorship, association, firm, corporation or any other business entity which is engaged or proposes to engage
or hereafter engages in any business which competes with the business of MIKOHN and/or any of MIKOHN’s subsidiaries or affiliates in any geographic area in which MIKOHN conducts business at the time of the termination or expiration of the
employment relationship. Notwithstanding the foregoing, nothing contained herein shall prevent GARCIA from engaging in a business or accepting employment with a business which sells to the gaming industry in a way that is not competitive with
MIKOHN. For the purposes of this Agreement, the sale of gaming devices shall not be deemed to be competitive with MIKOHN. Lease and or participation of gaming devices shall be deemed competitive, however, during the Non-Compete Term, MIKOHN may
allow GARCIA to do so on a case-by-case basis within MIKOHN’s sole discretion. 

  

	 	13	Non-Disparagement. Neither party shall make any remarks disparaging the conduct or character of the other party or any of its affiliates, officers or
directors. 

  

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	 	14	Release. Effective upon the execution of this AGREEMENT, GARCIA hereby releases and forever discharges MIKOHN, together with MIKOHN’s past, present and
future officers, directors, shareholders, employees, agents, representatives, subsidiaries, parent companies and affiliates, and their successors, heirs and assigns, from any and all claims, demands, damages, actions, causes of action, suits, debts,
liabilities and obligations, liens, costs and expenses of any nature, character and description, known or unknown, accrued or not yet accrued, whether anticipated or unanticipated, arising from or in any way related to GARCIA’s employment by
MIKOHN which GARCIA now holds, or has any time heretofore owned or held, or may at any time hereafter own or hold, by reason of any manner, cause or thing whatsoever existing as of the date hereof or at any time prior hereto. The foregoing
notwithstanding, this release shall not apply to any claim GARCIA’s may now or hereafter have for indemnity from MIKOHN in respect to any claim asserted by third parties against GARCIA arising from acts or omissions of GARCIA within the scope
of his employment by MIKOHN. 

  

	 	15	Arbitration. Any controversy involving the construction, application, enforceability or breach of any of the terms, provisions, or conditions of this
AGREEMENT, including without limitation claims for breach of contract, violation of public policy, breach of implied covenant, intentional infliction of emotional distress or any other alleged claims which are not settled by mutual AGREEMENT of the
parties, shall be submitted to final and binding arbitration in accordance with the rules of the American Arbitration Association at Las Vegas, Nevada. The cost of arbitration shall be borne by the losing party. In consideration of each party’s
AGREEMENT to submit to arbitration any and all disputes that arise under this AGREEMENT, each party agrees that the arbitration provisions of this AGREEMENT shall constitute his/its exclusive remedy and each party expressly waives the right to
pursue redress of any kind in any other forum. The parties further agree that the arbitrator acting hereunder shall not be empowered to add to, subtract from, delete or in any other way modify the terms of this AGREEMENT. Notwithstanding the
foregoing, any party shall have the limited right to seek equitable relief in the form of a temporary restraining order or preliminary injunction in a court of competent jurisdiction to protect itself from actual or threatened irreparable injury
resulting from an alleged breach of this AGREEMENT pending a final decision in arbitration. 

  

	 	16	Authorization. MIKOHN and GARCIA each represent and warrant to the other that he/she/it has the authority, power and right to deliver, execute and fully
perform the terms of this AGREEMENT. 

  

	 	17	Entire AGREEMENT. GARCIA understands and acknowledges that this document constitutes the entire AGREEMENT between GARCIA and MIKOHN with regard to
GARCIA’s employment by MIKOHN and GARCIA’s post-employment activities concerning MIKOHN. This AGREEMENT supersedes any and all other written and oral Agreements between the parties with respect to the subject matter hereof. Any and all
prior Agreements, promises, negotiations, or representations, either written or oral, relating to the subject matter of this AGREEMENT not expressly set forth in this AGREEMENT are of no force and effect. This AGREEMENT may be altered, amended, or
modified only in writing signed by all of the parties hereto. Any oral representations or modifications concerning this instrument shall be of no force and effect. 

  

	 	18	Severability. If any term, provision, covenant, or condition of this AGREEMENT is held by a court or other tribunal of competent jurisdiction to be
invalid, void, or unenforceable, the remainder of such provisions and all of the remaining provisions hereof shall remain in full force and effect to the fullest extent permitted by law and shall in no way be affected, impaired, or invalidated as a
result of such decision. 

  

	 	19	Governing Law. Except to the extent that federal law may preempt Nevada law, this AGREEMENT and the rights and obligations hereunder shall be governed,
construed and enforced in accordance with the laws of the State of Nevada. 

  

	 	20	 Taxes. All compensation payable hereunder is gross and shall be subject to such withholding taxes and other taxes as may be provided by
law. GARCIA shall be responsible for the payment of all taxes 

  

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attributable to the compensation provided by this AGREEMENT except for those taxes required by law to be paid or withheld by MIKOHN.

  

	 	21	Assignment. This AGREEMENT shall be binding upon and inure to the benefit of the successors and assigns of MIKOHN. GARCIA may not sell, transfer, assign,
or pledge any of GARCIA’s rights or interests pursuant to this AGREEMENT. 

  

	 	22	Waiver. Either party’s failure to enforce any provision or provisions of this AGREEMENT shall not in any way be construed as a waiver of any such
provision or provisions, or prevent that party thereafter from enforcing such provision or provisions and each and every other provision of this AGREEMENT. 

  

	 	23	Captions. Titles and headings to sections in this AGREEMENT are for the purpose of reference only and shall in no way limit, define, or otherwise affect
any provisions contained therein. 

  

	 	24	Breach - Right to Cure. A party shall be deemed in breach of this AGREEMENT only upon the failure to perform any obligation under this AGREEMENT after
receipt of written notice of breach and failure to cure such breach within ten (10) days thereafter; provided, however, such notice shall not be required where a breach or threatened breach would cause irreparable harm to the other party and such
other party may immediately seek equitable relief in a court of competent jurisdiction to enjoin such breach. 

  

	 	25	Acknowledgement. GARCIA acknowledges that he has been given a reasonable period of time to study this AGREEMENT before signing it. GARCIA certifies that
he has fully read, has received an explanation of, and completely understands the terms, nature, and effect of this AGREEMENT. GARCIA further acknowledges that he is executing this AGREEMENT freely, knowingly, and voluntarily and that his execution
of this AGREEMENT is not the result of any fraud, duress, mistake, or undue influence whatsoever. In executing this AGREEMENT, GARCIA does not rely on any inducements, promises, or representations by MIKOHN other than the terms and conditions of
this AGREEMENT. 

  
 IN WITNESS WHEREOF, the
parties hereto have read, understood, and voluntarily executed this AGREEMENT as of the day and year first above written. 
  

									
	 	 	 	 	 MIKOHN GAMING CORPORATION

				
	 	 	 	 	 By:
	 	 
	
	 	 	 	 	 	

	DENNIS A. GARCIA	 	 	 	 Title:
	 	 
	 	 	 	 	 	 	 	

  

 4Amendment Number 3 to Loan and Security Agreement

 Exhibit 10.28 
  
 AMENDMENT NUMBER 3 TO LOAN AND SECURITY AGREEMENT 
  
 THIS AMENDMENT NUMBER 3 TO LOAN AND SECURITY AGREEMENT (this “Amendment”), is entered into as of January
16, 2004, by and among, on the one hand WELLS FARGO FOOTHILL, INC., a California corporation, formerly known as Foothill Capital Corporation (“Lender”) and, on the other hand MIKOHN GAMING CORPORATION, a Nevada corporation
(“Borrower”), and the other Obligors identified on the signature pages hereof. 
  
 W I T N E S S E T H 
  
 WHEREAS, Borrower, the other Obligors and Lender are parties to that certain Loan and Security Agreement, dated as of February 14, 2002 (as amended, restated, supplemented, or modified from time to time, the “Loan Agreement”);

  
 WHEREAS, Borrower has requested that Lender waive
non-compliance with a certain financial covenant and that the Loan Agreement be amended to provide for a reset of such financial covenant; and 
  
 WHEREAS, subject to the satisfaction of the conditions set forth herein, Lender is willing to so consent to the amendment of the Loan Agreement.

  
 NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree to amend the Loan Agreement as follows: 
  
 1. DEFINITIONS. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Loan
Agreement, as amended hereby. 
  
 2. AMENDMENTS TO LOAN
AGREEMENT. 
  
 (a) Section 1.1 of
the Loan Agreement is hereby amended by amending and restating the following definition in its entirety: 
  
 “Consolidated EBITDA” means, with respect to any Person, for any period, the Consolidated Net Income of such Person for
such period adjusted to add thereto (to the extent deducted from net revenues in determining Consolidated Net Income), without duplication, the sum of 
  
 (1) Consolidated income tax expense; 
  
 (2) Consolidated depreciation and amortization expense; 
  
 (3) Consolidated Interest Expense; 
  

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 (4) All other non-cash charges attributable to the grant, exercise or repurchase of
options for or shares of Qualified Capital Stock to or from employees of such Person and its Consolidated Subsidiaries; and 
  
 (5) With respect to Borrower, (x) a one-time charge related to bond redemption expenses of no greater than $5,200,000, and (y) a one-time
charge related to cash severance expenses of no greater than $1,100,000; each such charge as demonstrated to Lender’s satisfaction and taken during the fiscal quarter of Borrower ending December 31, 2003; less the amount of all cash payments
made by such Person or any of its Subsidiaries during such period to the extent such payments relate to non-cash charges that were added back in determining Consolidated EBITDA for such period or any prior period, provided, that consolidated income
tax expense and depreciation and amortization of a Subsidiary that is less than a Wholly Owned Subsidiary shall only be added to the extent of the equity interest of Borrower in such Subsidiary. 
  
 “Revolving Loan B Reserve” means
$10,000,000; provided, however, that so long as no Event of Default has occurred and is continuing, the Revolving Loan B Reserve shall be zero, effective from the first day of the calendar month immediately following Lender’s
receipt of a Compliance Certificate which demonstrates Consolidated EBITDA of Obligors for the immediately preceding three consecutive fiscal quarters of no less than $20,000,000 on an annualized basis (provided that such Compliance
Certificate is received by Lender no later than 11:00 a.m., California time, at least 1 Business Day prior to the first day of such calendar month) until the earliest to occur of any of the following: (x) the date on which Lender receives a
Compliance Certificate which fails to demonstrate Consolidated EBITDA of Obligors for the immediately preceding three consecutive fiscal quarters of no less than $20,000,000 on an annualized basis; (y) the failure to deliver any Compliance
Certificate by the date required hereunder (after giving effect to any applicable grace period); and (z) the occurrence of an Event of Default. The occurrence of any event described in clauses (x), (y) and (z) above shall automatically cause the
Revolving Loan B Reserve to be $10,000,000, effective immediately. 
  
 (b) Section 7.20(a)(i) of the Loan Agreement is hereby amended and restated in its entirety as follows: 
  
 (i) Minimum Consolidated EBITDA. Consolidated EBITDA, measured on a fiscal quarter-end basis, of not less than the required amount
set forth in the following table for the applicable period set forth opposite thereto: 
  

			
	 Applicable
Amount

	  	 Applicable Period

	$8,000,000	  	 For the 12 month period ending December 31, 2003

		
	$8,000,000	  	 For the 12 month period ending March 31, 2004

		
	$6,500,000	  	 For the 12 month period ending June 30, 2004

		
	$6,500,000	  	 For the 12 month period ending September 30, 2004

		
	$8,000,000	  	 For the 12 month period ending on the last day of each fiscal quarter thereafter

  

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 3. LIMITED ONE-TIME WAIVER. Lender grants to Borrower a limited one-time waiver of
Section 7.20(a)(i) of the Loan Agreement, effective as of September 30, 2003, with respect only to Borrower’s fiscal quarter ended September 30, 2003. This waiver is not a waiver of any subsequent Default or Event of Default of the same
provisions of the Loan Agreement, nor is it a waiver of any other current or future Default or Event of Default. Lender is not obligated to provide this or any other waiver of its default rights. 
  
 4. REAFFIRMATION AND CONSENT. Each Guarantor hereby (a)
represents and warrants to Lender that the execution, delivery, and performance of this Amendment are within its powers, have been duly authorized by all necessary action, and are not in contravention of any law, rule, or regulation, or any order,
judgment, decree, writ, injunction, or award of any arbitrator, court, or governmental authority, or of the terms of its charter or bylaws, or of any contract or undertaking to which it is a party or by which any of its properties may be bound or
affected; (b) consents to the transactions contemplated by this Amendment; (c) acknowledges and reaffirms its obligations owing to Lender under any Loan Documents to which it is a party; and (d) agrees that each of the Loan Documents to which it is
a party is and shall remain in full force and effect. Although each Guarantor has been informed of the matters set forth herein and has acknowledged and agreed to same, it understands that Lender has no obligations to inform it of such matters in
the future or to seek its acknowledgement or agreement to future amendments, and nothing herein shall create such a duty. 
  
 5. CONDITIONS PRECEDENT TO THIS AMENDMENT. The satisfaction of each of the following shall constitute conditions precedent to the
effectiveness of this Amendment and each and every provision hereof: 
  
 (a) The representations and warranties in the Loan Agreement and the other Loan Documents shall be true and correct in all respects on and as of the date hereof, as though made on such date (except to the extent that
such representations and warranties relate solely to an earlier date); 
  
 (b) Lender shall have received from Borrower an amendment fee (the “Amendment Fee”) in the amount of $18,000. Upon Lender’s receipt of a copy of this Amendment executed by Borrower and the other
Obligors, Lender shall be authorized to charge 

  

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Borrower’s Loan Account the Amendment Fee, which Amendment Fee shall be non-refundable when charged; 
  
 (c) No Default or Event of Default shall have occurred and
be continuing on the date hereof or as of the date of the effectiveness of this Amendment; and 
  
 (d) No injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the consummation of the
transactions contemplated herein shall have been issued and remain in force by any Governmental Authority against any Obligor or Lender. 
  
 6. CONSTRUCTION. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEVADA APPLICABLE TO
CONTRACTS MADE AND TO BE PERFORMED IN THE STATE OF NEVADA. 
  
 7. ENTIRE AMENDMENT; EFFECT OF AMENDMENT. This Amendment constitutes the entire agreement among the parties pertaining to the subject matter hereof and supersedes any and all prior or contemporaneous
amendments relating to the subject matter hereof. Except for the amendments to the Loan Agreement expressly set forth in Section 2 hereof, the Loan Agreement and other Loan Documents shall remain unchanged and in full force and effect. To the
extent any terms or provisions of this Amendment conflict with those of the Loan Agreement or other Loan Documents, the terms and provisions of this Amendment shall control. This Amendment is a Loan Document. 
  
 8. COUNTERPARTS; TELEFACSIMILE EXECUTION. This Amendment may be
executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Amendment by signing any such counterpart. Delivery of an executed counterpart of this
Amendment by telefacsimile shall be equally as effective as delivery of an original executed counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment by telefacsimile also shall deliver an original executed
counterpart of this Amendment, but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment. 
  
 9. MISCELLANEOUS. 
  
 (a) Upon the effectiveness of this Amendment, each reference
in the Loan Agreement to “this Agreement,” “hereunder,” “herein,” “hereof” or words of like import referring to the Loan Agreement shall mean and refer to the Loan Agreement as amended by this Amendment.

  
 (b) Upon the effectiveness of this Amendment,
each reference in the Loan Documents to the “Loan Agreement,” “thereunder,” “therein,” “thereof” or words of like import referring to the Loan Agreement shall mean and refer to the Loan Agreement as amended by
this Amendment. 
  

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 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed and delivered as of the date
first written above. 
  

			
	MIKOHN GAMING CORPORATION,
	 a Nevada corporation, as Borrower

		
	 By:
	 	 
	 	 	

	 Title:
	 	 
	 	 	

	
	CASINO EXCITEMENT, INC.,
	 a Nevada corporation, as a Guarantor

		
	 By:
	 	 
	 	 	

	 Title:
	 	 
	 	 	

	
	GAMES OF NEVADA, INC.,
	 a Nevada corporation, as a Guarantor

		
	 By:
	 	 
	 	 	

	 Title:
	 	 
	 	 	

	
	MGC, INC.,
	 a Nevada corporation, as a Guarantor

		
	 By:
	 	 
	 	 	

	 Title:
	 	 
	 	 	

	
	MIKOHN INTERNATIONAL, INC.,
	 a Nevada corporation, as a Guarantor

		
	 By:
	 	 
	 	 	

	 Title:
	 	 
	 	 	

  

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	MIKOHN NEVADA,
	 a Nevada corporation, as a Guarantor

		
	 By:
	 	 
	 	 	

	 Title:
	 	 
	 	 	

	
	PROGRESSIVE GAMES, INC.,
	 a Delaware corporation, as a Guarantor

		
	 By:
	 	 
	 	 	

	 Title:
	 	 
	 	 	

	
	WELLS FARGO FOOTHILL, INC.,
	 a California corporation, as Lender

		
	 By:
	 	 
	 	 	

	 Title:
	 	 
	 	 	

  

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