Document:

Exhibit 10.23

 

AGREEMENT REGARDING THE BOND TRUSTEE’S
FEES (the “Fee Agreement”)

 

	 	Issuer:	Euronav Luxembourg SA
	 	Bond Trustee:	Nordic Trustee ASA
	 	ISIN (the Bonds):	NO0010793888
	 	Annual Fee:	NOK 150 000
	 	Annual Payment Date:	May 31
	 	Date of Agreement:	30 May 2017

 

		1.	Annual Fee: The Issuer shall pay the Annual Fee
on the Annual Payment Date as set out in the schedule above. The Annual Fee covers the work related to the establishing and the
supervision of the Bonds according to the bond agreement for the Bonds (the “Bond Agreement”). The Annual Fee
is payable in advance and falls due for the first time together with the issue of the Bonds, and subsequently on each Annual Payment
Date. The Annual Fee will be adjusted annually in accordance with the Norwegian Consumer Price Index (the “CPI”).

 

		2.	Break Fee: In the event the Bond Agreement or this
Fee Agreement is terminated prior to its original final maturity date, the Bond Trustee may require a fee (the “Break
Fee”) as compensation for loss of income, but always limited to one Annual Fee.

 

		3.	Security Fee: If the Bond Trustee according to the
Bond Agreement shall hold security documents or act as security trustee, this may be charged the Issuer separately (the “Security
Fee”).

 

		4.	Tap Issues:
                                         In connection with any tap issues under the Bond Agreement the Issuer shall pay a
                                         separate fee if an amendment agreement to the Bond Agreement is prepared (the “Tap
                                         Issue Fee”). The applicable Tap Issue Fee is published on the website www.nordictrustee.no.

 

		5.	The Bondholders'
                                         Meeting; The Issuer will be charged a fixed standard fee for any bondholders’
                                         meeting to be held (the “Fixed Meeting Fee”), regardless of who requested
                                         the meeting, except when a bondholders' meeting is requested with the purpose of electing
                                         a new Bond Trustee and this is due to the Bond Trustee's failure to fulfil its duties.
                                         The applicable Fixed Meeting Fee is published on the website www.nordictrustee.no.
                                         The Fixed Meeting Fee includes preparation of the standard documents for the meeting,
                                         inter alia the standard formal part of the summons, agenda, notice and minutes and also
                                         includes the use of the premises of the Bond Trustee related to the bondholders’
                                         meeting, and the Bond Trustee's participation at and management of the meeting.

 

The Issuer will be billed for any documented
costs which inter alia will include costs related to external meeting facilities, postage and the registry of securities. Any additional
work a bondholders' meeting entails for the Bond Trustee, including any preparation of case documents or any costs related to assistance
from consultants, financial and legal advisors will be charged separately as described in clause 6.

 

		6.	Work Fee:
                                         The Issuer shall pay the Bond Trustee for any work (the “Work Fee”)
                                         related to extraordinary situations under the Bond Agreement or any other Finance Document
                                         (as defined in the Bond Agreement), such as, but not limited to, requests from the Issuer
                                         regarding waivers or amendment requirements, restructuring processes, enforcements or
                                         any recovery procedures and default situations. The Work Fee will be charged on a case
                                         to case basis, either by an hourly rate or based on an assessed fixed rate for the process.
                                         The applicable hourly rates for Work Fee are published on the website www.nordictrustee.no.

 

		7.	Costs: The Issuer shall also cover any documented
cost incurred by the Bond Trustee (the “Costs”) which may include inter alia the costs for assistance from
legal advisors related to inter alia the establishment of the Bond Agreement, any security or any part of a restructuring process.

 

		8.	Taxes: The Issuer will be charged any value added
tax (“VAT”) or other taxes or duties applicable.

 

		9.	Invoice Handling Fee: All through-invoicing will
be added a handling fee (“Handling Fee”) of 2.50% of the invoice amount up to NOK 100 000 and 1.00% of the
part of the invoice amount exceeding NOK 100 000.

 

		10.	Termination: This Fee Agreement terminates without
further notice from any of the parties when all obligations under the Bond Agreement and any other Finance Document and the Fee
Agreement (as defined in the Bond Agreement) are fulfilled, including interest, expenses and any other sums payable thereunder
or subsequent to a bondholders’ meeting decision to appoint a new Bond Trustee.

 

		11.	Conflict, dispute resolution and legal venue: In
case of any conflict between this Fee Agreement and the related Bond Agreement, this Fee Agreement shall have precedence, provided
that this will not infringe the bondholders' rights under the Bond Agreement. This Fee Agreement and all disputes arising out
of, or in connection with this Fee Agreement, between the Bond Trustee and the Issuer shall be governed by Norwegian law. All
disputes arising out of, or in connection with this Fee Agreement, between the Bond Trustee and the Issuer shall be exclusively
resolved by the courts of Norway, with the District Court of Oslo as sole legal venue.

 

     

     

    

 

	/s/ Hugo De Stoop	 	/s/ Vivian Trosch
	Issuer	 	Bond Trustee
	 	 	 
	EuronavLuxemberg S.A.	 	Vivian Trosch
	Public limited liability company (societie anonyme)	 	Attorney-at-Law
	25 boulevard Prince Henri	 	 
	L-1724 Luxembourg	 	 
	Grand Duchy of Luxembourg	 	 
	RCS Luxembourg B 51212Exhibit

Exhibit 10.3.1

AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT 
AGREEMENT 

Agreement made and entered into effective as of the 21st day of December (the “Effective Date”), by and between Mastercard International Incorporated, a Delaware corporation (the “Company”) and Martina Hund-Mejean (the “Executive”).
W I T N E S S E T H:
WHEREAS, the Executive and the Company have previously entered into an Employment Agreement, effective as of the 30th day of December 2008, amended and restated as of the 24th day of  December 2012 (the “Amended and Restated Employment Agreement”) and; 
WHEREAS, the Executive and the Company wish to further amend the Amended and Restated Employment Agreement and continue the employment of the Executive on the modified terms and conditions specified herein; 
NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties agree as follows:
		
	1.
	Elimination of Gross-Up Payments 

Section 5.2.7 of the Amended and Restated Employment Agreement, entitled “Gross-Up Payments” is hereby deleted in its entirety.  All other terms and conditions set forth in the Amended and Restated Employment Agreement remain otherwise in effect, in accordance with its terms.
IN WITNESS WHEREOF, each of the Company and the Executive has executed this Agreement effective as of the Effective Date.
	
		
	 
	MASTERCARD INTERNATIONAL INCORPORATED

	/s/ MARTINA HUND-MEJEAN
    Martina Hund-Mejean
	By: /s/ AJAY BANGA
        Ajaypal Banga
        President and Chief Executive 
        OfficerExhibit 4.1

 

SUPPLEMENTAL INDENTURE

 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of February 14, 2018, among Scientific Games International, Inc., a Delaware corporation (the “Issuer”), the Guarantors (as defined in the Base Indenture (as defined below)) and Deutsche Bank Trust Company Americas, as trustee and collateral agent (in such capacities, the “Trustee”).  Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Base Indenture.

 

W I T N E S S E T H

 

WHEREAS, the Issuer, the Guarantors and the Trustee are party to an indenture dated as of October 17, 2017 (the “Base Indenture”) relating to the Issuer’s 5.000% Senior Secured Notes due 2025 (the “Existing Securities”);

 

WHEREAS, Section 2.15 of the Base Indenture provides that the Issuer may, from time to time and in accordance therewith, create and issue Additional Securities under the Base Indenture;

 

WHEREAS, the Issuer wishes to issue an additional $900,000,000 aggregate principal amount of its 5.000% Senior Secured Notes due 2025 as Additional Securities (the “New Securities”);

 

WHEREAS, Section 9.01 of the Base Indenture provides that, without the consent of the Holders of any Securities, the Issuer and the Trustee may enter into one or more indentures supplemental to the Base Indenture to provide for the issuance of Additional Securities pursuant to Section 2.15 of the Base Indenture and to amend the Base Indenture to cure any ambiguity, defect or inconsistency so long as such change does not adversely affect the rights of any Holders in any material respects;

 

WHEREAS, the Issuer and the Guarantors are authorized to execute and deliver this Supplemental Indenture;

 

WHEREAS, the Issuer has requested that the Trustee execute and deliver this Supplemental Indenture; and

 

WHEREAS, all conditions and requirements necessary to the execution and delivery of this Supplemental Indenture have been done and performed, and the execution and delivery hereof has been in all respects authorized.

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties to this Supplemental Indenture mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as follows:

 

1.                                      AMOUNT OF NEW SECURITIES. The aggregate principal amount of New Securities to be authenticated and delivered under this Supplemental Indenture on February 14, 2018 is $900,000,000.

 

 

2.                                      TERMS OF NEW SECURITIES. The New Securities are to be issued as Additional Securities under the Base Indenture and shall:

 

a.              be issued as part of the existing series of Existing Securities under the Base Indenture, and the New Securities and the Existing Securities shall be a single class for all purposes under the Indenture, including, without limitation, with respect to waivers, amendments, redemptions and offers to purchase;

 

b.              be issued on February 14, 2018 at a purchase price of 100.000% of the principal amount, and will accrue interest from October 17, 2017;

 

c.               be issuable in whole in the form of one or more Global Securities to be held by the Depositary and in the form, including appropriate transfer restriction legends, provided in Exhibit 1 to the Base Indenture; and

 

d.              bear, in the case of New Securities sold under Rule 144A of the Securities Act, the CUSIP number of 80874Y AW0 and ISIN of US80874YAW03, and, in the case of New Securities sold under Regulation S of the Securities Act, initially bear the CUSIP number of U8067T AL0 and ISIN of USU8067TAL09, and after 40 days, will bear the CUSIP number of U8067T AK2 and ISIN of USU8067TAK26.

 

3.                                      AMENDMENT. Pursuant to Section 9.01(1) of the Base Indenture, clause (2) of the definition of “Permitted Liens” in the Base Indenture is hereby amended and restated as follows:

 

(2) Liens on assets of the Company or any of its Restricted Subsidiaries securing (a) Indebtedness or other Obligations under Credit Facilities that was permitted by the terms of this Indenture to be incurred pursuant to clause (2) of the definition of “Permitted Indebtedness;” provided that, for absence of doubt, during any period that certain covenants have been suspended pursuant to Section 4.18, the aggregate principal amount of Indebtedness and other Obligations that is permitted to be secured pursuant to this clause (a) will continue to be limited to the amount set forth in clause (2) of the definition of “Permitted Indebtedness”; provided, further, that such Liens are subject to the provisions of the Intercreditor Agreement; provided, further, that any such Liens shall not secure Indebtedness and other Obligations of the Company or a Restricted Subsidiary of the Company unless such Lien shall also secure the Securities, the Guarantees and Permitted Additional Pari Passu Obligations; and (b) Indebtedness that was permitted by the terms of this Indenture to be incurred pursuant to clause (1) of the definition of “Permitted Indebtedness,” the 2022 Secured Notes and/or Refinancing Indebtedness in respect thereof;

 

4.                                      NO RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator, stockholder or controlling person of the Issuer or any Guarantor, as such, shall have any liability for any obligations of the Issuer or any Guarantor under the Additional Securities, any Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of,

 

 

or by reason of, such obligations or their creation.  Each Holder of the Additional Securities by accepting an Additional Security waives and releases all such liability.  The waiver and release are part of the consideration for issuance of the Additional Securities.

 

5.                                      RATIFICATION OF BASE INDENTURE; SUPPLEMENTAL INDENTURE PART OF BASE INDENTURE.  Except as expressly amended hereby, the Base Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect.  This Supplemental Indenture shall form a part of the Base Indenture for all purposes, and every Holder heretofore or hereafter authenticated and delivered shall be bound hereby.

 

6.                                      NEW YORK LAW TO GOVERN.  THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

7.                                      COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.  The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes.  Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

 

8.                                      EFFECT OF HEADINGS. The section headings herein are for convenience only and shall not affect the construction hereof.

 

9.                                      THE TRUSTEE. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guarantors and the Issuer.

 

[Signatures on following page]

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.

 

 

	
 
    	
Issuer:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SCIENTIFIC GAMES INTERNATIONAL, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael A. Quartieri
    
	
 
    	
 
    	
Name:
    	
Michael A. Quartieri
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President, Chief Financial Officer, Secretary   and Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Guarantors:
    
	
 
    	
 
    
	
 
    	
SCIENTIFIC GAMES CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael A. Quartieri
    
	
 
    	
 
    	
Name:
    	
Michael A. Quartieri
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President, Chief Financial Officer, Treasurer and Corporate Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BALLY GAMING, INC.
    
	
 
    	
BALLY TECHNOLOGIES, INC.
    
	
 
    	
SCIENTIFIC GAMES PRODUCTS, INC.
    
	
 
    	
SCIENTIFIC GAMES SA, INC.
    
	
 
    	
SG GAMING NORTH AMERICA, INC.
    
	
 
    	
WILLIAMS ELECTRONICS GAMES, INC.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael A. Quartieri
    
	
 
    	
 
    	
Name:
    	
Michael A. Quartieri
    
	
 
    	
 
    	
Title:
    	
Treasurer and Secretary
    

 

Signature Page to Supplemental Indenture-2025 Secured Notes

 

 

	
 
    	
 
    
	
 
    	
BALLY PROPERTIES EAST, LLC
    
	
 
    	
BALLY PROPERTIES WEST, LLC
    
	
 
    	
SHFL PROPERTIES, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Bally Gaming, Inc., as its Sole Member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael A. Quartieri
    
	
 
    	
 
    	
Name:
    	
Michael A. Quartieri
    
	
 
    	
 
    	
Title:
    	
Treasurer and Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
MDI ENTERTAINMENT, LLC
    
	
 
    	
SCIENTIFIC GAMES NEW JERSEY, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Scientific Games International, Inc., as its Sole Member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael A. Quartieri
    
	
 
    	
 
    	
Name:
    	
Michael A. Quartieri
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President, Chief Financial Officer, Secretary and Treasurer
    
	
 
    	
 
    
	
 
    	
LAPIS SOFTWARE ASSOCIATES, L.L.C.
    
	
 
    	
 
    
	
 
    	
By:   Scientific Games International, Inc., as its Sole Shareholder and Member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael A. Quartieri
    
	
 
    	
 
    	
Name:
    	
Michael A. Quartieri
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President, Chief Financial Officer, Secretary and Treasurer
    

 

Signature Page to Supplemental Indenture-2025 Secured Notes

 

 

	
 
    	
Trustee and Collateral Agent:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
DEUTSCHE BANK TRUST COMPANY AMERICAS,
    
	
 
    	
a New York banking corporation
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Robert S. Peschler
    
	
 
    	
Name:
    	
Robert S. Peschler
    
	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Chris Niesz
    
	
 
    	
Name:
    	
Chris Niesz
    
	
 
    	
Title:
    	
Assistant Vice President
    

 

Signature Page to Supplemental Indenture-2025 Secured Notes

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