Document:

Indemnification Agreement

 Exhibit 10.48 
 INDEMNIFICATION AGREEMENT 
 INDEMNIFICATION AGREEMENT dated as of April 10, 2008 by and
between C&D Technologies, Inc. (the “Corporation”), a Delaware corporation, and Michael H. Kalb (“Indemnitee”): 
 Recitals: 
 WHEREAS, highly competent persons are becoming more reluctant to serve publicly held corporations as
directors unless they are provided with adequate protection through insurance and indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation; and

 WHEREAS, the current difficulties in the marketplace generally of obtaining adequate insurance and uncertainties relating to
indemnification have increased the difficulty of attracting and retaining such persons; and 
 WHEREAS, the Board of Directors has determined
that the inability to attract and retain such persons would be detrimental to the best interests of the Corporation and its stockholders and that the Corporation should act to assure its directors that such protection will be available in the
future; and 
 WHEREAS, it is reasonable, prudent and necessary for the Corporation contractually to obligate itself to indemnify its
directors to the fullest extent permitted by applicable law, subject only to the limited exceptions contained in this Agreement, so that they will serve or continue to serve the Corporation free from undue concern that they will not be so
indemnified. 
 NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Corporation and Indemnitee,
intending to be legally bound, hereby covenant and agree as follows: 
 Section 1. Indemnification. In consideration of
Indemnitee’s continued service as a director of the Corporation, the Corporation shall indemnify Indemnitee to the fullest extent permitted by applicable law in effect on the date hereof or as such laws may from time to time be amended, subject
only to the limited exceptions set forth in this Agreement. Without diminishing the scope of the indemnification provided by this Section 1, the rights of indemnification of Indemnitee provided hereunder shall include but shall not be limited
to those rights specified in this Agreement, except to the extent expressly prohibited by applicable law. 
 Section 2. Proceedings Other
Than an Action by or in the Right of the Corporation. Indemnitee shall be entitled to the indemnification rights provided in this Section 2 if Indemnitee is a party to or is threatened to be made a party to any Proceeding (as defined in
Section 7), other than an action by or in the right of the Corporation, by reason of the fact that Indemnitee is or was a director, officer, employee, agent, or fiduciary of the Corporation or is or was serving at the request of the Corporation
as a director, officer, employee, agent or fiduciary of any other corporation, partnership, limited liability company, joint venture, trust or other enterprise or entity or by reason of anything done or not done by Indemnitee in any such 

 
capacity. Pursuant to this Section 2, Indemnitee shall be indemnified against reasonable costs and expenses (including attorneys’ fees), judgments,
penalties, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee in connection with such Proceeding (including, but not limited to, the investigation, defense or appeal thereof), if Indemnitee acted in good faith and in
a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal Proceeding, had no reasonable cause to believe his conduct was unlawful. 
 Section 3. Actions by or in the Right of the Corporation. Indemnitee shall be entitled to the indemnification rights provided in this
Section 3 if Indemnitee is a person who was or is made a party or is threatened to be made a party to any Proceeding brought by or in the right of the Corporation to procure a judgment in its favor by reason of the fact that Indemnitee is or
was a director, officer, employee, agent or fiduciary of the Corporation or is or was serving at the request of the Corporation as a director, officer, employee, agent, or fiduciary of any other corporation, partnership, limited liability company,
joint venture, trust or other enterprise or entity by reason of anything done or not done by Indemnitee in any such capacity. Pursuant to this Section 3, Indemnitee shall be indemnified against reasonable costs and expenses (including
attorneys’ fees) actually and reasonably incurred by Indemnitee in connection with such Proceeding (including, but not limited to, the investigation, defense, settlement or appeal thereof) if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation. 
 Section 4. Indemnification for Costs
and Expenses of Successful Party. Notwithstanding the other provisions of this Agreement, to the extent that Indemnitee has served as a witness on behalf of the Corporation or has been successful on the merits or otherwise, including, without
limitation, the dismissal of a Proceeding without prejudice, in defense of any Proceeding referred to in Sections 2 and 3 hereof, or in defense of any claim, issue or matter therein, Indemnitee shall be indemnified against reasonable costs and
expenses (including attorneys’ fees) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 
 Section 5. Partial Indemnification. If Indemnitee is only partially successful in the defense, investigation, settlement or appeal of any Proceeding described in Section 2 or 3 hereof, and as a result is not entitled under
Section 6 hereof to indemnification by the Corporation for the reasonable costs and expenses (including attorneys’ fees), judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee, the
Corporation shall nevertheless indemnify Indemnitee pursuant to Section 6 hereof to the extent Indemnitee has been partially successful. 
 Section 6. Determination of Entitlement to Indemnification. When seeking indemnification under Section 3 or 4 hereof, Indemnitee shall submit a written request for indemnification to the Corporation. Such request shall include
documentation or information that is reasonably available to Indemnitee and reasonably necessary for the Corporation to make a determination of Indemnitee’s entitlement to indemnification. Determination of Indemnitee’s entitlement to
indemnification pursuant to this Agreement shall be determined by the following person or persons, who shall be empowered to make such determination: (a) the Board of Directors of the Corporation by a majority vote of a quorum consisting of
Disinterested Directors (as defined in Section 7); or (b) if such a quorum is not obtainable or, even if obtainable, if the Board of Directors by the majority vote of Disinterested Directors so directs, by Independent Counsel (as defined
in Section 7) in a written opinion to the Board of Directors, a copy of which 

  

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shall be delivered to Indemnitee; or (c) by the stockholders. Such Independent Counsel shall be selected by the Board of Directors and reasonably
acceptable to Indemnitee. Upon failure of the Board to so select such Independent Counsel or upon failure of Indemnitee to so accept, such Independent Counsel shall be selected by the Chancellor of the State of Delaware or such other person as the
Chancellor shall designate to make such selection. Such determination of entitlement to indemnification shall be made not later than 60 days after receipt by the Corporation of a written request for indemnification. Any reasonable costs or expenses
(including attorneys’ fees) incurred by Indemnitee in connection with a request for indemnification under this Agreement shall be borne by the Corporation provided that it is ultimately determined that the Indemnitee is entitled to
indemnification. If the person making such determination shall determine that Indemnitee is entitled to indemnification as to part (but not all) of the application for indemnification, such person shall reasonably prorate such partial
indemnification among such claims, issues or matters. 
 Section 7. Presumptions and Effect of Certain Proceedings. The Secretary of
the Corporation (or other officer designated by the Board of Directors) shall, promptly upon receipt of Indemnitee’s request for indemnification, advise in writing the Board of Directors, or such other person or persons empowered to make the
determination as provided in Section 6, that Indemnitee has made such request for indemnification. Upon making such request for indemnification, Indemnitee shall be presumed to be entitled to indemnification hereunder and the Corporation shall
have the burden of proof in the making of any determination contrary to such presumption. If the person or persons so empowered to make such determination shall fail to make the requested indemnification within 60 days after receipt by the
Corporation of such request, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be absolutely entitled to such indemnification, absent actual and material fraud in the request for
indemnification. The termination of any Proceeding described in Sections 2 or 3 hereof by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself: (a) create a presumption that
Indemnitee did not act in good faith and in a manner that Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe
that his conduct was unlawful; or (b) otherwise adversely affect the rights of Indemnitee to indemnification except as may be provided herein. 
 Section 8. Advancement of Expenses and Costs. Subject to the exceptions set forth in Section 10 hereof, all reasonable costs and expenses incurred by Indemnitee (including attorneys’ fees, retainers and advances of
disbursements required of Indemnitee) in defending a Proceeding shall be paid by the Corporation in advance of the final disposition of such Proceeding at the request of Indemnitee within 20 days after the receipt by the Corporation of a statement
or statements from Indemnitee requesting such advance or advances from time to time. Indemnitee’s entitlement to such costs and expenses shall include those incurred in connection with any proceeding by Indemnitee seeking an adjudication
pursuant to this Agreement. Such statement or statements shall reasonably evidence the costs and expenses incurred by Indemnitee in connection therewith and shall include or be accompanied by a written undertaking by or on behalf of Indemnitee to
repay such amount if it is ultimately determined that Indemnitee is not entitled to be indemnified against such costs and expenses by the Corporation as provided by this Agreement or otherwise. 
 Section 9. Remedies of Indemnitee in Cases of Determination Not To Indemnify or To Advance Expenses. In the event that a determination is made
that Indemnitee is not entitled to indemnification hereunder or if payment has not been timely made following a determination 

  

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of entitlement to indemnification pursuant to Sections 6 and 7, or if expenses are not advanced pursuant to Section 8, Indemnitee shall be entitled to a
final adjudication in an appropriate court of the State of Delaware or any other court of competent jurisdiction of Indemnitee’s entitlement to such indemnification or advance. Such judicial proceeding shall be made de novo, and
Indemnitee shall not be prejudiced in seeking further relief by reason of a determination (if so made) that Indemnitee is not entitled to indemnification. If a determination is made or deemed to have been made pursuant to the terms of Section 6
or Section 7 hereof that Indemnitee is entitled to indemnification, the Corporation shall be bound by such determination and is precluded from asserting that such determination has not been made or that the procedure by which such determination
was made is not valid, binding and enforceable. The Corporation further agrees to stipulate in any such proceeding that the Corporation is bound by all the provisions of this Agreement and is precluded from making any assertion to the contrary. If
the court shall determine that Indemnitee is entitled to any indemnification hereunder, the Corporation shall pay all reasonable costs and expenses (including attorneys’ fees) actually incurred by Indemnitee in connection with such adjudication
(including, but not limited to, any appellate proceedings). 
 Section 10. Exceptions and Modifications to Indemnification.

 (a) Notwithstanding any other provision to the contrary set forth in this Agreement, unless otherwise determined by the Board of Directors
by a majority vote of the Disinterested Directors, Indemnitee shall not be entitled to indemnification or advancement of expenses from the Corporation under this Agreement in any of the following circumstances: (i) any Proceeding initiated by
or on behalf of Indemnitee against the Corporation (other than a Proceeding brought solely to seek the remedies set forth in Section 9 of this Agreement for a Proceeding not initiated by Indemnitee), or any counterclaim, cross-claim,
affirmative defense or similar claim of the Corporation in connection with such Proceeding; or (ii) any Proceeding initiated by the Corporation against Indemnitee. 
 (b) Notwithstanding any other provision to the contrary set forth in this Agreement, in the event that any insurance policy obtained by the Corporation would provide coverage for any liability, cost or expense for
which indemnification or advancement of expenses is sought by Indemnitee under this Agreement, the provisions of this Agreement shall be modified to the extent necessary to conform this Agreement to the requirements of such insurance policy so as to
provide coverage to the fullest extent possible, including but not limited to any requirement relating to incurring defense costs and retaining legal counsel. 
 Section 11. Other Rights to Indemnification. The indemnification and advancement of costs and expenses (including attorneys’ fees) provided by this Agreement shall not be deemed exclusive of any other
rights to which Indemnitee may now or in the future be entitled under any provision of the Corporation’s Certificate of Incorporation or By-Laws or any agreement, vote of stockholders or disinterested directors, provision of law or otherwise.

 Section 12. Attorneys’ Fees and Other Expenses to Enforce Agreement. In the event that Indemnitee is subject to or intervenes
in any Proceeding in which the validity or enforceability of this Agreement is at issue or seeks an adjudication to enforce Indemnitee’s rights under, or to recover damages for breach of, this Agreement, if Indemnitee prevails in whole or in
part in such Proceeding, Indemnitee shall be entitled to recover from the Corporation and shall be indemnified by the Corporation against, any actual expenses for attorneys’ fees and disbursements reasonably incurred by Indemnitee. 

 

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 Section 13. Duration of Agreement. This Agreement shall continue until and terminate upon the
later of: (a) ten years after Indemnitee has ceased to hold any of the positions or have any of the relationships described in Sections 2 and 3 of this Agreement; or (b) the final termination of all pending or threatened Proceedings with
respect to Indemnitee. This Agreement shall be binding upon the Corporation and its successors and assigns and shall inure to the benefit Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees, executors, administrators or other legal
representatives. 
 Section 14. Severability. If any provision of this Agreement shall be held to be invalid, illegal or unenforceable
for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be
invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of this Agreement (including, without
limitation, all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent
manifested by the provision held invalid, illegal or unenforceable. 
 Section 15. Identical Counterparts. This Agreement may be
executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same agreement. Only one such counterpart signed by the party against whom enforceability
is sought needs to be produced to evidence the existence of this Agreement. 
 Section 16. Headings. The headings of the paragraphs of
this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 
 Section 17. Definitions and Interpretations. For purposes of this Agreement: 
 (a) The term
“Corporation” shall include any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger that, if its separate existence continued, would have had power and authority to indemnify its
directors or officers, so that any person who is or was a director or officer of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee, or agent of another corporation,
partnership, joint venture, trust or other enterprise, shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation as such person would have with respect to such constituent
corporation if its separate existence had continued. 
 (b) The term “Disinterested Director” shall mean a director of the
Corporation who is not or was not a party to a Proceeding in respect of which indemnification is being sought by Indemnitee. 
 (c) The term
“fines” shall include any penalties and any excise or similar taxes assessed on a person with respect to an employee benefit plan. 
 (d) The term “Independent Counsel” shall mean a law firm or a member of a law firm that neither is presently nor in the past five years has been retained to represent: (i) the 

  

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Corporation or Indemnitee in any matter material to either such party, or (ii) any other party to the Proceeding giving rise to a claim for
indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in
representing either the Corporation or Indemnitee in a Proceeding to determine Indemnitee’s right to indemnification under this Agreement. 
 (e) The term “other enterprise” shall include employee benefit plans, including but not limited to any employee benefit plans of the Corporation. 
 (f) The term “Proceeding” shall mean any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative in nature, including any counterclaim.

 (g) Service by Indemnitee “at the request of the Corporation” shall include, but is not limited to, any service that imposes
duties on, or involves services by, Indemnitee with respect to an employee benefit plan, its participants or beneficiaries, including acting as a fiduciary thereof. 
 (h) A person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner
“not opposed to the best interests of the Corporation” as referred to in Sections 2 and 3 hereof. 
 (i) Service by Indemnitee as a
partner, trustee, manager or member of management or similar committee of a partnership, joint venture, trust or limited liability company, or as a director, officer, manager, partner, trustee or manager of an entity that is a partner, trustee,
member or joint venturer, shall be considered service as a director or officer of the partnership, joint venture, trust, limited liability company or other enterprise. 
 Section 18. Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of
this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
 Section 19. Notice by Indemnitee. Indemnitee agrees promptly to notify the Corporation in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document
relating to any matter that may be subject to indemnification covered hereunder, either civil, criminal or investigative. 
 Section 20.
Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication
shall have been directed or if (b) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed: 
 If to Indemnitee, to the address set forth on the signature page to this Agreement. 
  

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 If to the Corporation to: 
 C&D Technologies, Inc. 
 1400 Union Meeting Road 
 P.O. Box 3053 
 Blue Bell, PA 19422-0858

 Attention: Corporate Secretary 
 or to such
other address as may have been furnished to Indemnitee by the Corporation or to the Corporation by Indemnitee, as the case may be. 
 Section 21. Governing Law. The parties agree that this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written. 
  

			
	C&D TECHNOLOGIES, INC.
		
	By:	 	 /s/ Jeffrey A. Graves

	Title:	 	President & CEO

			
		
	Name:	 	Michael H. Kalb
	
	 /s/ Michael H. Kalb

	Signature
		
	Address:	 	541 W. 50th Street
		 	Miami Beach, FL 33140

  

 7Form of Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS AGREEMENT, made as of
            ,             , between Harrah’s Operating Company, Inc., with offices at One Caesars Palace
Drive, Las Vegas, Nevada (the “Company”), and              (“Executive”). 
 The Company and Executive agree as follows: 
 1. Introductory Statement. The Company desires to secure the services of Executive as              effective on the Closing Date of the merger (the “Effective
Date”) between Hamlet Merger Inc. and Harrah’s Entertainment, Inc. (the “Merger”), as defined in the agreement and plan of merger (the “Merger Agreement”) dated December 19, 2006, by and among
Hamlet Holdings LLC, Hamlet Merger, Inc., and Harrah’s Entertainment, Inc., and Executive is willing to execute this Agreement with respect to his or her employment. This Agreement supersedes the employment agreement between the Company and
Executive dated                      (the “Prior Employment Agreement”). 
 The Company hereby agrees to employ Executive, and Executive hereby agrees to be employed by the Company, subject to the terms and conditions of this
Agreement, for a period beginning on the Effective Date and ending on the third anniversary thereof (the “Initial Term”); provided that, on the third anniversary of the Effective Date and each anniversary of the Effective Date
thereafter, the employment period shall be extended by one year unless, at least sixty (60) days prior to such anniversary, the Company or Executive delivers a written notice (a “Notice of Non-Renewal”) to the other party that
the employment period shall not be so extended (the Initial Term as from time to time extended or renewed, the “Employment Term”). 
 2. Agreement of Employment. Effective as of the Effective Date, the Company agrees to, and hereby does, employ Executive, and Executive agrees to, and hereby does, accept continued employment by the Company, in a full-time capacity
as                      pursuant to the provisions of this Agreement and of the bylaws of the Company, and subject to the control of the
individual or individuals to whom Executive reports and the Board of Directors (the “Board”). 
 3. Executive’s
Obligations. During the period of his or her service under this Agreement, Executive shall devote substantially all of his or her time and energy during business hours to the benefit of the Company’s business. Executive agrees to serve the
Company diligently and to the best of his or her ability, and to follow the policies and directions of the Company. 
 4.
Compensation. 
 4.1 Base Salary. As compensation for all services performed by Executive under and during the
Employment Term, the Company shall pay to Executive a base salary at the rate of $             per year, in equal bi-weekly installments in accordance with its customary payroll
practices. The Human Resources Committee of the Board or any successor committee responsible for setting compensation levels for executives (the “Committee”) shall, in good faith, review the salary of Executive, on an annual basis,
with a view to consideration of appropriate merit increases (but not decreases) in such salary. Such base salary, as may be 

 
increased from time to time, is hereafter referred to as the “Base Salary.” All payments will be subject to Executive’s chosen benefit
deductions and the deductions of payroll taxes and similar assessments as required by law. 
 4.2 Bonus. Executive will
participate in the Company’s annual incentive bonus program(s) applicable to Executive’s position, in accordance with the terms of such program(s), and shall have the opportunity to earn an annual bonus thereunder based on the achievement
of performance objectives determined by the Board. 
 If Executive dies or resigns pursuant to this Agreement or pursuant to any other
agreement between the Company and Executive providing for such resignation during the period of this Agreement, service for any part of the month in which any such event occurs shall be considered service for the entire month. 
 5. Equity Award. As soon as reasonably practicable following the Effective Date, provided Executive has taken all steps necessary to complete his
or her investment in the Company in connection with the Merger, the Company will grant Executive certain options (the “Options”) to purchase shares of non-voting common stock of the Company (the “Option Shares”).
The specific terms and conditions governing all aspects of the Options shall be provided in applicable grant agreements and any relevant plan documents (collectively, the “New Option Plan”). The Options shall be comprised of Options
that vest and become exercisable in installments over a three-year period, subject to Executive’s continued employment with the Company through the applicable vesting date (the “Time Based Options”) and Options that will vest
and become exercisable only upon the achievement by the Company of certain performance targets in accordance with the New Option Plan (the “Performance Based Options”). Notwithstanding the foregoing, Executive’s Time Based
Options shall not vest during the Severance Agreement Period (as defined in Section 8 hereof) provided that, if Executive is employed by the Company on the first business day after the Severance Agreement Period expires in accordance with
Section 8 hereof, the Time Based Options that would have vested during the Severance Agreement Period will immediately vest and become exercisable in accordance with the terms of the New Option Plan. 
 6. Benefits. During the Employment Term, except as otherwise provided herein, Executive shall be entitled to participate in any and all incentive
compensation and bonus arrangements maintained by the Company for its similarly-situated executives and to receive benefits and perquisites at least as favorable to Executive as those presently provided to Executive by the Company. 
 6.1 Health Insurance. Executive will receive the regular group health plan coverage(s) provided to similarly situated officers,
which coverage(s) may be subject to generally applicable changes during the Employment Term, provided that such changes are generally applicable to similarly situated officers. Executive will be required to contribute to the cost of the basic plan
in the same manner as other similarly situated officers. Executive will receive coverage under no less favorable a health plan than other similarly situated officers. 
  

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 6.2 Long Term Disability Benefits. Executive will be eligible to receive long term
disability coverage paid by the Company in accordance with the terms of the Company’s policies. 
 6.3 Life
Insurance. Executive will receive life insurance paid by the Company in accordance with the terms of the Company’s policies as in effect from time to time, which policies may be subject to changes during the Employment Term, provided that
such changes are generally applicable to similarly situated officers. 
 6.4 Retirement Plan. Executive will also be
eligible during the Employment Term to participate in the Company’s 401(k) Plan, as may be modified or changed. In addition, Executive will also be eligible during the Employment Term to participate in the Company’s deferred compensation
plan, as may be modified or changed from time to time, in the same manner as other similarly situated officers of the Company. 
 6.5 Financial Counseling. During the Employment Term, Executive will also receive financial counseling in accordance with the terms of the Company’s policies as in effect from time to time, which policies may be subject to
changes during the Employment Term, provided that such changes are generally applicable to similarly situated officers. 
 6.6
Vacation. Executive will be entitled to paid vacation in accordance with the terms of the Company’s policies. 
 6.7 Reimbursement of Expenses. The Company shall pay, or will reimburse Executive for, reasonable business expenses incurred in the performance of Executive’s duties hereunder in accordance with Company policy. 
 6.8 D&O Insurance. The Company shall provide Executive with Director’s and Officer’s indemnification insurance
coverage, in amount and scope that is customary for a company of the Company’s size and nature, in accordance with the terms of the Company’s policies as in effect from time to time, which policies may be subject to changes during the
Employment Term, provided that such changes are generally applicable to similarly situated officers. 
 6.9 Reimbursements;
In-Kind Benefits. To the extent that any amount eligible for reimbursement or any in-kind benefit provided under this Agreement is deferred compensation subject to the requirements of Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”), the following rules shall apply: 
 (a) Payment of such reimbursements shall be made no
later than the end of Executive’s taxable year following the taxable year in which the expense is incurred; 
 (b) All
such amounts eligible for reimbursement or any in-kind benefit provided under this Agreement in one taxable year shall not affect the amount eligible for reimbursement or in-kind benefits to be provided in any other taxable year; and 
  

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 (c) The right to any such reimbursement or in-kind benefit hereunder shall not be subject
to liquidation or exchange for any other benefit. 
 The parties intend that all reimbursements or in-kind benefits provided for hereunder will be made in a
manner that makes such reimbursements and in-kind benefits consistent with or exempt from Section 409A of the Code. 
 7. Lifetime
Medical Coverage. If (a) Executive reaches the age of fifty (50) and, when added to his or her number of years of continuous service with the Company, including any period of salary continuation, the sum of his or her age and years of
service equals or exceeds sixty-five (65), and at any time after the occurrence of both such events Executive’s employment is terminated by the Company without Cause, by Executive for Good Reason or due to the Company’s delivery to
Executive of a Notice of Non-Renewal as described in Section 9.1 below or is terminated by reason of disability as described in Section 9.4 below; or (b) Executive reaches the age of fifty-five (55) and has attained ten
(10) years of continuous service with the Company, including any period of salary continuation, and at any time after the occurrence of both such events Executive’s employment terminates for any reason other than by the Company for
“Cause” as described in Section 9.2 below, Executive and his or her then-eligible dependents shall be entitled to participate in the Company’s group health insurance plan, as amended from time to time by the Company, after
Executive’s Separation Date or the end of the Salary Continuation Period, as applicable, for the remainder of Executive’s life (“Life Coverage Period”). During the Life Coverage Period, Executive shall pay twenty percent
(20%) of then applicable premium for current employees (revised annually) on an after-tax basis each quarter, and the Company shall pay eighty percent (80%) of said premium on an after-tax basis, which contribution will be imputed income
to Executive to the extent required by the applicable provisions of the Code. As soon after the Separation Date as Executive becomes eligible for Medicare coverage, the Company’s group health insurance plan shall become secondary to Medicare.
For the avoidance of doubt, the amount of health insurance benefits paid to Executive under this Section 7 shall be subject to the provisions of Section 6.9 herein. 
 If Executive engages in any of the activities described in Section 12.1 below during the Life Coverage Period, the entitlement of Executive and his
or her then-eligible dependents to participate in the Company’s group health insurance plan shall terminate automatically, without any further action or notice by either party, subject to applicable COBRA rights, which shall commence on the
Separation Date. If Executive engages in any of the activities described in said Section 12.1 in a business which does not compete with the Company or any of its subsidiaries during the Life Coverage Period, the Company’s group
health insurance plan shall become secondary to any primary health insurance plan or coverage made available to Executive by that business. 
 8. Severance Agreement. Executive hereby agrees that his or her Severance Agreement, dated                      with
Harrah’s Entertainment, Inc. (the “Severance Agreement”) as modified by this Section 8 and Section 16, shall remain in full force and effect during the two-year period following the Effective Date (the
“Severance Agreement Period”) and shall automatically cease to have any force and effect from and after the second anniversary of the Effective Date. If Executive’s employment is terminated by the Company without Cause or

  

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by Executive for Good Reason (as such terms are defined in the Severance Agreement) during the Severance Agreement Period, then (a) Executive’s
severance benefits (if any) shall be governed only by the Severance Agreement, as modified by this Section 8 and Section 16, it being understood that Executive shall be subject to the restrictive covenants (including non-compete
provisions) and other obligations under the Severance Agreement and such restrictive covenants and other obligations shall remain in effect in accordance with their terms following a termination of Executive’s employment with the Company and
its affiliates (b) all Time Based Options shall be forfeited and Executive’s Performance Based Options will be treated in accordance with the terms of the New Option Plan, (c) Executive shall retain the right to lifetime medical
coverage under Section 7 hereof and (d) Executive shall have no right to any severance benefit under Section 9 of this Agreement. If Executive’s employment is terminated under circumstances other than those described in the
preceding sentence, then (a) Executive’s severance benefits (if any) shall be governed by this Agreement, (b) Executive’s Options and Option Shares will be treated in accordance with the terms of the New Option Plan, and
(c) Executive shall have no right to any severance benefit under the Severance Agreement. Notwithstanding anything to the contrary set forth in the Severance Agreement, Executive expressly acknowledges and agrees that any provisions in the
Severance Agreement relating to equity or equity-based awards will not apply to any equity awards that may be granted to Executive from and after the Effective Date (including without limitation the Options and Option Shares), whether granted under
the New Option Plan or otherwise. Executive acknowledges and agrees that the Company’s execution of this Agreement satisfies the provisions of Section 5 of his or her Severance Agreement (and thereby waives his or her right to terminate
his or her employment for Good Reason pursuant to Section 2(c)(vii) of the Severance Agreement). 
 9. Termination of Employment.
Except as expressly provided in Section 8 hereof, the following provisions shall govern Executive’s rights to severance benefits (if any) upon a termination of his or her employment. 
 9.1 Termination Without Cause; Resignation for Good Reason; Company Failure to Renew. 
 (a) The Board reserves the right to terminate the Employment Term and Executive from his or her then current position without Cause at any
time. Executive reserves the right to terminate the Employment Term and resign from his or her position for Good Reason (as defined in Section 11.2 herein) by giving the Company thirty (30) days written notice which states the basis for
such Good Reason. 
 (b) Upon (x) the Company’s termination of Executive’s employment without Cause, (y) a
termination of Executive’s employment due to the Company’s delivery to Executive of a Notice of Non-Renewal in accordance with Section 1 hereof (it being understood and agreed that (1) the Company’s obligations pursuant to
this Section 9.1(b)(y) shall survive until fully discharged, notwithstanding the conclusion or expiration of the Employment Term and (2) for purposes of the Management Investor Rights Agreement, dated as of January 28, 2008, among
Harrah’s Entertainment, Inc. and the other parties thereto, the termination of Executive’s employment with the Company due to the Company’s delivery to Executive of a Notice of Non-Renewal in accordance with Section 1 shall be
treated as a termination of 

  

 5 

 
Executive’s employment without Cause) or (z) Executive’s resignation from his or her position for Good Reason as described in
Section 9.1(a) above: 
 (i) The Company shall pay Executive, within thirty (30) days following his or her
termination of employment, Executive’s accrued but unused vacation, unreimbursed business expenses and Base Salary through the date of termination (to the extent not theretofore paid) (the “Accrued Benefits”); 
 (ii) Subject to Executive executing and not revoking the release attached hereto as Exhibit B, the Company will pay Executive:
(A) in approximately equal installments during the eighteen (18) month period following such termination (the “Severance Period”), a cash severance payment in an amount equal to 1.5 multiplied by his or her Base Salary as
in effect on the date of termination (the “Severance Payment”) and (B) at the time it pays annual bonuses to its similarly situated active officers, a pro rated bonus for the year in which the termination of employment occurs
if (x) as of the date of termination of employment, Executive has been employed with the Company for more than six (6) months, (y) the separation occurs after June 30 of the year in which the termination of employment occurs and
(z) Executive is eligible to receive such bonus on the basis of actual performance in accordance with the terms of the applicable bonus plan. If applicable, Executive will be entitled to receive the benefits set forth on Exhibit A hereto during
the Severance Period. Subject to the following sentence, the installments of the Severance Payment will be paid to Executive in accordance with the Company’s customary payroll practices, and will commence on the first payroll date following the
termination of Executive’s employment. Notwithstanding the foregoing, if, as of the date of termination, Executive is a “specified employee” as defined in subsection (a)(2)(B)(i) of Section 409A of the Code (“Specified
Employee”), installments of the Severance Payments will not commence, and payment of the pro rated bonus (if any) will not be made, until the first business day after the date that is six months following Executive’s “separation
from service” within the meaning of subsection (a)(2)(A)(i) of Section 409A of the Code (the “Delayed Payment Date”) and, on the Delayed Payment Date, the Company will pay to Executive a lump sum equal to all amounts that
would have been paid during the period of the delay if the delay were not required plus interest on such amount at a rate equal to the short-term applicable federal rate then in effect, and will thereafter continue to pay Executive the Severance
Payment in installments in accordance with this Section; and 
 (iii) Executive’s Options and Option Shares will be
treated in accordance with the terms of the New Option Plan. 
 (c) Except as otherwise provided in this Agreement, and except
for any vested benefits under any tax qualified pension plans of the Company and vested deferred compensation under any applicable deferred compensation plans, and continuation of health insurance benefits on the terms and to the extent required by
Section 4980B of the Code and Section 601 of the Employee Retirement Income Security Act of 1974, as amended (which provisions are commonly known as “COBRA”), neither the Company nor Executive shall have any additional
obligations under this Agreement. 
 9.2 Termination for Cause or Resignation Without Good Reason. 
  

 6 

 (a) The Company will have the right to terminate the Employment Term and Executive’s
employment with the Company at any time from his or her then-current positions for Cause (as defined in Section 11.1 herein). A resignation by Executive without Good Reason shall not be a breach of this Agreement. 
 (b) If the Employment Term and Executive’s employment are terminated for Cause, or if he or she resigns from his or her position
without Good Reason, then: (i) Executive’s employment shall be deemed terminated on the date of such termination or resignation; (ii) Executive shall be entitled to receive all Accrued Benefits from the Company within thirty
(30) days following such termination; and (iii) his or her rights with respect to his or her Options and Option Shares will be as set forth in the New Option Plan. 
 (c) Except as otherwise provided in this Agreement, and except for any vested benefits under any tax qualified pension plans of the
Company and vested deferred compensation under any applicable deferred compensation plans, and continuation of health insurance benefits on the terms and to the extent required by COBRA, neither the Company nor Executive shall have any additional
obligations under this Agreement. 
 9.3 Death. 
 (a) In the event that the Employment Term and Executive’s employment are terminated due to his or her death,
(i) Executive’s right to receive his or her Base Salary and benefits under this Agreement (other than the Accrued Benefits) will terminate, and his or her estate and beneficiary(ies) will receive the benefits they are entitled to receive
under the terms of the Company’s benefit plans and programs by reason of a participant’s death during active employment, (ii) Executive’s estate shall be entitled to receive all Accrued Benefits from the Company within thirty
(30) days following such termination and (iii) Executive’s Options and Option Shares will be treated in accordance with the terms of the New Option Plan. For the avoidance of doubt, Executive’s estate shall be an express third
party beneficiary of this provision, with the right to enforce the provision for and on behalf of Executive’s beneficiary(ies). 
 (b) If Executive dies at a time when the Company owes Executive any Severance Payment(s) pursuant to Section 9.1(b), the Company shall pay such remaining Severance Payment(s) in a lump sum to Executive’s estate. 
 (c) Except as otherwise provided in this Agreement, and except for any vested benefits under any tax qualified pension plans of the
Company and vested deferred compensation under any applicable deferred compensation plans, and continuation of health insurance benefits on the terms and to the extent required by COBRA, neither the Company nor Executive shall have any additional
obligations under this Agreement. 
 9.4 Disability. 
 (a) If the Employment Term and Executive’s employment are terminated by reason of Executive’s disability (as defined below), he
or she will be entitled to apply, at his or her option, for the Company’s long-term disability benefits and, if he or she is accepted for such benefits, then Executive’s Options and Option Shares will be treated in 

  

 7 

 
accordance with the terms of the New Option Plan, and the terms and provisions of the Company’s benefit plans and programs that are applicable in the
event of such disability of an employee shall apply in lieu of the salary and benefits under this Agreement, except that: 
 (i) Executive will be entitled to the lifetime group insurance benefits described in Section 7; 
 (ii)
Executive will be paid his or her Accrued Benefits within thirty (30) days of termination; 
 (iii) Executive will
receive eighteen (18) months of Base Salary continuation (the “Salary Continuation Payment”), offset by any long term disability benefits to which he or she is entitled during such period of salary continuation. In addition to
payment of his or her Base Salary, Executive will be entitled to all benefits during the salary continuation period. Notwithstanding the foregoing, if, as of the date of termination pursuant to this Section 9.4, Executive is a Specified
Employee, installments of the Salary Continuation Payment will not commence until the Delayed Payment Date and, on the Delayed Payment Date, the Company will pay to Executive a lump sum equal to all amounts that would have been paid during the
period of the delay if the delay were not required plus interest on such amount at a rate equal to the short-term applicable federal rate then in effect, and will thereafter continue to pay Executive the Salary Continuation Payment in installments
in accordance with this Section. 
 (b) If Executive is disabled so that he or she cannot perform his or her duties, then the
Company may terminate his or her duties under this Agreement after giving Executive thirty (30) days’ notice of such termination (during which period Executive shall not have returned to full time performance of his or her duties). For
purposes of this Agreement, disability will be the inability of Executive, with or without a reasonable accommodation, to perform the essential functions of his or her job for one hundred and eighty (180) days during any three hundred and sixty
five (365) consecutive calendar day period as reasonably determined by the Committee (excluding Executive) based on independent medical advice from a physician who has examined Executive (such physician to be selected by the Company and
reasonably acceptable to Executive). 
 (c) Except as otherwise provided in this Agreement, and except for any vested benefits
under any tax qualified pension plans of the Company and vested deferred compensation under any applicable deferred compensation plans, and continuation of health insurance benefits on the terms and to the extent required by COBRA, neither the
Company nor Executive shall have any additional obligations under this Agreement. 
 10. Voluntary Termination Notice Period.
Executive may terminate this Agreement at any time for any or no reason during its term upon thirty (30) days’ prior written notice to the Company, except as specified in this Section. If Executive is going to work or act in competition
with the Company or its affiliates as described in Section 12 of this Agreement, Executive must give the Company six (6) months’ prior written notice of his or her intention to do so. The written notice provided by Executive shall
specify the last day to be worked by Executive (the “Separation Date”), which Separation Date must be at least thirty (30) days or up to six (6) months (as appropriate) after the date the notice is received by the Company
(it being understood 

  

 8 

 
that Executive shall not work or act in competition with the Company or its affiliates as described in Section 12 of this Agreement for the six
(6) month period following delivery of the written notice referenced in the immediately preceding sentence without the prior written consent of the Company). Unless otherwise specified herein, or in a writing executed by both parties, Executive
shall not receive any of the benefits provided in this Agreement after the Separation Date except for applicable rights and benefits that apply to employees generally after their termination of employment. 
 11. Definitions of Cause and Good Reason. 
 11.1 (a) For purposes of this Agreement, “Cause” shall mean: 
 (i) The
willful failure of Executive to substantially perform Executive’s duties with the Company (as described in Section 2 and Section 3) or to follow a lawful, reasonable directive from the Board or the chief executive officer of the
Company (“CEO”) or such other executive officer to whom Executive reports (other than any such failure resulting from incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to
Executive by the Board (or the CEO, as applicable) which specifically identifies the manner in which the Board (or the CEO, as applicable) believes that Executive has willfully not substantially performed Executive’s duties or has willfully
failed to follow a lawful, reasonable directive; 
 (ii)(A) Any willful act of fraud, or embezzlement or theft, by Executive,
in each case, in connection with Executive’s duties hereunder or in the course of Executive’s employment hereunder or (B) Executive’s admission in any court, or conviction of, or plea of nolo contendere to, a felony;

 (iii) Executive being found unsuitable for or having a gaming license denied or revoked by the gaming regulatory
authorities in any jurisdiction in which the Company or Harrah’s Entertainment, Inc. conducts gaming operations; 
 (iv)(A) Executive’s willful and material violation of, or noncompliance with, any securities laws or stock exchange listing rules, including, without limitation, the Sarbanes-Oxley Act of 2002, provided that such violation or
noncompliance resulted in material economic harm to the Company, or (B) a final judicial order or determination prohibiting Executive from service as an officer pursuant to the Securities and Exchange Act of 1934 or the rules of the New York
Stock Exchange; or 
 (v) A willful breach by Executive of Section 12 or Section 13 of this Agreement. 

(b) For purposes of this Section 11, no act or failure to act on the part of Executive, shall be considered “willful”
unless it is done, or omitted to be done, by Executive in bad faith and without reasonable belief that Executive’s action or omission was in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a
resolution duly adopted by the Board or based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in the best interests of the Company. The cessation of
employment of Executive shall not be 

  

 9 

 
deemed to be for Cause unless and until Executive has been provided with written notice of the claim(s) against him or her under the above provision(s) and a
reasonable opportunity (not to exceed thirty (30) days) to cure, if possible, and to contest said claim(s) before the Board. 
 11.2 For purposes of this Agreement, “Good Reason” shall mean, without Executive’s express written consent, the occurrence of any of the following circumstances unless such circumstances are fully corrected prior to
the date of termination specified in the written notice given by Executive notifying the Company of his or her intention to terminate his or her Employment for Good Reason: 
 (a) A reduction by the Company in Executive’s annual Base Salary, as the same may be increased from time to time pursuant to
Section 4.1 hereof, other than a reduction in base salary that applies to a similarly situated class of employees of the Company or its affiliates; 
 (b) Any material diminution in the duties or responsibilities of Executive as of the date hereof; provided that a change in control of the Company that results in the Company becoming part of a larger organization
will not, in and of itself and unaccompanied by any material diminution in the duties or responsibilities of Executive, constitute Good Reason; 
 (c)(i) The failure by the Company to pay or provide to Executive any material portion of his or her then current Base Salary or then current benefits hereunder (except pursuant to a compensation deferral elected by
Executive) or (ii) the failure to pay Executive any material portion of deferred compensation under any deferred compensation program of the Company within thirty (30) days of the date such compensation is due and permitted to be paid
under Section 409A of the Code, in each case other than any such failure that results from a modification to any compensation arrangement or benefit plan that is generally applicable to similarly situated officers; 
 (d) The Company’s requiring Executive to be based anywhere other than Atlantic City or Las Vegas (except for required travel on the
Company’s business to an extent substantially consistent with Executive’s present business travel obligations); or 
 (e) The Company’s failure to obtain a satisfactory agreement from any successor to assume and agree to perform this Agreement, as contemplated in Section 17 hereof. 
 12. Non-Competition Agreement. 
 12.1 During the Employment Term (so long as Executive remains employed by the Company or its affiliates) and for a period following the termination of Executive’s employment with the Company and its affiliates
equal to the Non-Compete Period (as defined below), he or she will not, directly or indirectly, engage in any activity, including development activity, whether as an employer, employee, consultant, director, investor, contractor, or otherwise,
directly or indirectly, which is in competition with the casino, casino/hotel and/or casino/resort businesses conducted by the Company or any of its subsidiaries or affiliates in the United States, Canada or Mexico or such other location that the
Company or an affiliate of the Company conducts significant business operations (a) with respect to periods prior to the 

  

 10 

 
termination of Executive’s employment with the Company and its affiliates, at any time during Executive’s active employment period and
(b) with respect to periods following the termination of Executive’s employment with the Company and its affiliates, at any time during the twelve months preceding the termination of Executive’s employment with the Company and its
affiliates. Notwithstanding anything herein to the contrary, this Section 12.1 shall not prevent Executive from: (i) acquiring securities representing not more than 1% of the outstanding voting securities of any entity the securities of
which are traded on a national securities exchange or in the over the counter market; or (ii) obtaining employment in the hotel/resort industry for an entity that does not engage in the casino business. Executive acknowledges that the
restrictions described above are reasonable as to both time and geographic scope, as the Company competes for customers with all gaming establishments in these areas. For purposes of this Agreement, “Non-Compete Period” shall mean
the following: (w) if the Executive has voluntarily terminated employment with the Company without Good Reason, the notice period under Section 10 (including for the avoidance of doubt, the six-month notice period in the event Executive is
going to work or act in competition with the Company as described in Section 13 of this Agreement); (x) (1) if the Company has terminated Executive’s employment with the Company without Cause, (2) if Executive has terminated
employment with the Company with Good Reason or (3) if the Company delivers to Executive a Notice of Non-Renewal in accordance with Section 1, the period during which the Company is obligated to pay Executive severance pursuant to
Section 9.1, (y) if the Company has terminated Executive’s employment with the Company for Cause, six (6) months, or (z) if the Executive’s employment with the Company is terminated due to disability, the salary
continuation period pursuant to Section 9.4. 
 12.2 If Executive breaches any of the covenants in Section 12.1,
then the Company may terminate any of his or her rights under this Agreement, whereupon all of the Company’s obligations under this Agreement shall terminate (including, without limitation, the right to lifetime group insurance) without further
obligation to him or her except for obligations that have been paid (except as otherwise provided in Section 12.6), accrued or are vested as of or prior to such termination date. In addition, the Company shall be entitled to seek to enforce any
such covenants, including obtaining monetary damages, specific performance and injunctive relief. Executive’s Options and Option Shares will be treated in accordance with the terms of the New Option Plan. 
 12.3 During the Employment Term (so long as Executive remains employed by the Company or its affiliates) and for a period of eighteen
(18) months following the termination of Executive’s employment with the Company and its affiliates, Executive will not, directly or indirectly hire, induce, persuade or attempt to induce or persuade, any salary grade M50 or higher
employee of the Company or its subsidiaries, to leave or abandon employment with the Company, its subsidiaries or affiliates, for any reason whatsoever (other than Executive’s personal secretary and/or assistants). 
 12.4 During the Employment Term (so long as Executive remains employed by the Company or its affiliates) and for a period of eighteen
(18) months following the termination of Executive’s employment with the Company and its affiliates, Executive will not communicate with employees, customers, or suppliers of the Company, or its subsidiaries or affiliates of the Company or
any principals or employee thereof, or any person or organization in any manner whatsoever that is detrimental to the business interests of the Company, its subsidiaries or 

  

 11 

 
affiliates. Executive further agrees from the end of Executive’s full-time employment with the Company and its affiliates not to make statements to the
press or general public with respect to the Company or its subsidiaries or affiliates that are detrimental to the Company, its subsidiaries, affiliates or employees without the express written prior authorization of the Company, and the Company
agrees that it will not make statements to the press or general public with respect to Executive that are detrimental to him or her without the express written prior authorization of Executive. Notwithstanding the foregoing, Executive shall not be
prohibited at the expiration of the non-competition period from pursuing his or her own business interests that may conflict with the interests of the Company. 
 12.5 Each of Executive and the Company intends and agrees that if, in any action before any court, agency or arbitration tribunal legally
empowered to enforce the covenants in this Section 12, any term, restriction, covenant or promise contained herein is found to be unreasonable and, accordingly, unenforceable, then such term, restriction, covenant or promise shall be deemed
modified to the extent necessary to make it enforceable by such court, agency or arbitration tribunal. 
 12.6 Should any
court, agency or arbitral tribunal legally empowered to enforce the covenants contained in this Section 12 find that Executive has breached the terms, restrictions, covenants or promises herein in any material respect (except to the extent it
has been modified to make it enforceable): (a) the Company will not be obligated to continue to pay Executive the salary or benefits provided for under the severance provisions contained in the Agreement (including all required benefits under
benefit plans), and (b) Executive will reimburse the Company any severance benefits received after the date of termination as well as any reasonable costs and attorney fees necessary to secure such repayments. For the avoidance of doubt, the
Company shall be entitled to money damages and/or injunctive relief due to Executive’s breach of the terms, restrictions, covenants or promises contained in this Section 12 without regard to whether or not such breach is material, it being
understood that the limiting effect of the phrase “in any material respect” in the immediately preceding sentence shall operate solely with respect to the remedies available pursuant to this Section 12.6. 
 12.7 For the avoidance of doubt, for purposes of this Section 12, “Executive’s employment” shall not include any
period of salary continuation hereunder. 
 12.8 This Section and all of its provisions will survive Executive’s
separation from employment for any reason. 
 13. Confidentiality. 
 13.1 Executive’s position with the Company will or has resulted in his or her exposure and access to confidential and proprietary
information which he or she did not have access to prior to holding the position, which information is of great value to the Company and the disclosure of which by him or her, directly or indirectly, would be irreparably injurious and detrimental to
the Company. During his or her term of employment and without limitation thereafter, Executive agrees to use his or her best efforts and to observe the utmost diligence to guard and protect all confidential or proprietary information relating to the
Company from disclosure to third parties. Executive shall not at any time during and after the end of his or her 

  

 12 

 
full-time active employment, make available, either directly or indirectly, to any competitor or potential competitor of the Company or any of its
subsidiaries, or their affiliates, or divulge, disclose, communicate to any firm, corporation or other business entity in any manner whatsoever, any confidential or proprietary information covered or contemplated by this Agreement, unless expressly
authorized to do so by the Company in writing. Notwithstanding the above, Executive may provide such Confidential Information if ordered by a federal or state court, arbitrator or any governmental authority, pursuant to subpoena, or as necessary to
secure legal and financial counsel from third party professionals or to enforce his or her rights under this Agreement. In such cases, Executive will use his or her reasonable best efforts to notify the Company, at least five (5) business days
prior to providing such information, including the nature of the information required to be provided. 
 13.2 For the purpose
of this Agreement, “Confidential Information” shall mean all information of the Company, its subsidiaries and affiliates relating to, or useful in connection with, the business of the Company, its subsidiaries and affiliates,
whether or not a “trade secret” within the meaning of applicable law, which is not generally known to the general public and which has been or is from time to time disclosed to, or developed by, Executive as a result of his or her
employment with the Company. Confidential Information includes, but is not limited to, the Company’s product development and marketing programs, data, future plans, formula, food and beverage procedures, recipes, finances, financial management
systems, player identification systems (Total Rewards), pricing systems, client and customer lists, organizational charts, salary and benefit programs, training programs, computer software, business records, files, drawings, prints, prototyping
models, letters, notes, notebooks, reports, and copies thereof, whether prepared by him, her or others, and any other information or documents which Executive is told or reasonably ought to know that the Company regards as confidential. 

13.3 Executive agrees that upon separation from employment for any reason whatsoever, he or she shall promptly deliver to the Company
all Confidential Information, including but not limited to documents, reports, correspondences, computer printouts, work papers, files, computer lists, telephone and address books, rolodex cards, computer tapes, disks, and any and all records in his
or her possession (and all copies thereof) containing any such Confidential Information, and all items created in whole or in part by Executive within the scope of his or her employment even if the items do not contain Confidential Information.

 13.4 Executive shall also be required to sign a non-disclosure or confidentiality agreement if Executive is not currently a
party to such an agreement with the Company. Such agreement shall also remain in full force and effect, provided that, in the event of any conflict between any such agreement(s) and this Agreement, this Agreement shall control. The
form of non-disclosure or confidentiality agreement is attached hereto as Exhibit C. 
 13.5 This Section and all of its
provisions will survive Executive’s separation from employment for any reason. 
 14. Injunctive Relief. Executive acknowledges
and agrees that the terms provided in Sections 12 and 13 are the minimum necessary to protect the Company, its affiliates and subsidiaries, and their successors and assigns, in the use and enjoyment of the Confidential Information and the good will
of the business of the Company. Executive further agrees that 

  

 13 

 
damages cannot fully and adequately compensate the Company in the event of a breach or violation of the restrictive covenants set forth herein and that
without limiting the right of the Company to pursue all other legal and equitable remedies available to it, the Company shall be entitled to seek injunctive relief, including but not limited to a temporary restraining order, preliminary injunction
and permanent injunction, to prevent any such violations or any continuation of such violations for the protection of the Company. The granting of injunctive relief will not act as a waiver by the Company of its right to pursue any and all
additional remedies. 
 15. Post Employment Cooperation. Executive agrees that upon separation for any reason from the Company,
Executive will cooperate in assuring an orderly transition of all matters being handled by him or her. Upon the Company providing reasonable notice to him or her, he or she will also appear as a witness at the Company’s request and/or assist
the Company in any litigation, bankruptcy or similar matter in which the Company or any affiliate thereof is a party or otherwise involved. The Company will defray any reasonable out-of-pocket expenses incurred by Executive in connection with any
such appearance. In connection therewith, the Company agrees to indemnify Executive as prescribed in Article Tenth of the Certificate of Incorporation, as amended, of the Company. 
 16. Release. Upon the termination of Executive’s active full-time employment, and in consideration of and as a condition to the actual
receipt of all compensation and benefits described in this Agreement (including without limitation any severance payments pursuant to this Agreement or the Severance Agreement), except for claims arising from the covenants, agreements, and
undertakings of the Company as set forth herein and except as prohibited by statutory language, Executive and the Company will enter into an agreement which forever and unconditionally waives and releases Harrah’s Entertainment, Inc.,
Harrah’s Operating Company, Inc., their subsidiaries and affiliates, and their officers, directors, agents, benefit plan trustees, and employees from any and all claims, whether known or unknown, and regardless of type, cause or nature,
including but not limited to claims arising under all salary, vacation, insurance, bonus, stock, and all other benefit plans, and all state and federal anti-discrimination, civil rights and human rights laws, ordinances and statutes, including Title
VII of the Civil Rights Act of 1964 and the Age Discrimination in Employment Act, concerning Executive’s employment with Harrah’s Entertainment, Inc., its subsidiaries and affiliates, the cessation of that employment and Executive’s
service as a shareholder, employee, officer and director of the Company and its subsidiaries. The form of release is set forth in Exhibit B. 
 17. Assumption of Agreement on Merger, Consolidation or Sale of Assets. In the event the Company agrees to (a) enter into any merger or consolidation with another company in which the Company is not the surviving company or
(b) sell or dispose of all or substantially all of its assets, and the company which is to survive fails to make a written agreement with Executive to either: (1) assume the Company’s financial obligations to Executive under this
Agreement or (2) make such other provision for Executive as is reasonably satisfactory to Executive, then Executive shall have the right to resign for Good Reason as defined under this Agreement. 
 18. Assurances on Liquidation. The Company agrees that until the termination of this Agreement as above provided, it will not voluntarily
liquidate or dissolve without first making a 

  

 14 

 
full settlement or, at the discretion of Executive, a written agreement with Executive satisfactory to and approved by him or her in writing, in fulfillment
of or in lieu of its obligations to him or her under this Agreement. 
 19. Amendments; Entire Agreement. This Agreement may not be
amended or modified orally, and no provision hereof may be waived, except in a writing signed by the parties hereto. This Agreement and the New Option Plan and, to the extent expressly provided herein, the Severance Agreement (as modified herein),
contain the entire agreement between the parties concerning the subject matter hereof and supersede all prior agreements and understandings, written and oral, between the parties with respect to the subject matter of this Agreement and the New
Option Plan, including without limitation the Prior Employment Agreement. 
 20. Assignment. 
 20.1 Except as otherwise provided in Section 20.2, this Agreement cannot be assigned by either party hereto, except with the written
consent of the other. Any assignment of this Agreement by either party shall not relieve such party of its or his or her obligations hereunder. 
 20.2 The Company may elect to perform any or all of its obligations under this Agreement through a subsidiary or affiliate, and if the Company so elects, Executive will be an employee of such subsidiary or affiliate.
Notwithstanding any such election, the Company’s obligations to Executive under this Agreement will continue in full force and effect as obligations of the Company, and the Company shall retain primary liability for their performance.

 21. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the personal representatives and successors in
interest of the Company. 
 22. Governing Law. This Agreement shall be governed by the laws of the State of Nevada as to all matters,
including but not limited to matters of validity, construction, effect and performance. 
 23. Jurisdiction. Any judicial proceeding
seeking to enforce any provision of, or based on any right arising out of, this Agreement or any agreement identified herein may be brought only in state or federal courts of the State of Nevada, and by the execution and delivery of this Agreement,
each of the parties hereto accepts for themselves the exclusive jurisdiction of the aforesaid courts and irrevocably consents to the jurisdiction of such courts (and the appropriate appellate courts) in any such proceedings, waives any objection to
venue laid therein and agrees to be bound by the judgment rendered thereby in connection with this Agreement or any agreement identified herein. 
 24. Notices. Any notice to be given hereunder by either party to the other may be effected by personal delivery, in writing, or by mail, registered or certified, postage prepaid with return receipt requested. Mailed notices shall be
addressed to the parties at the addresses set forth below, but each party may change his, her or its address by written notice in accordance with this Section 24. Notices shall be deemed communicated as of the actual receipt or refusal of
receipt. 
  

 15 

					
	 If to Executive:
	  		  	
		  	 	  	
		  	 	  	
			
	And to:	  		  	
			
	If to Company:	  	 Harrah’s Operating Company, Inc.
 One Caesars
Palace Drive
 Las Vegas, NV 89109
 Attn: General
Counsel
	  	

 25. Construction. This Agreement is to be construed as a whole, according to its fair
meaning, and not strictly for or against any of the parties. 
 26. Severability. If any provision of this Agreement shall be
determined by a court to be invalid or unenforceable, the remaining provisions of this Agreement shall not be affected thereby, shall remain in full force and effect, and shall be enforceable to the fullest extent permitted by applicable law.

 27. Withholding Taxes. Any payments or benefits to be made or provided to Executive pursuant to this Agreement shall be subject to
any withholding tax (including social security contributions and federal income taxes) as shall be required by federal, state, and local withholding tax laws. 
 28. Counterparts. This Agreement may be executed by the parties in any number of counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same agreement.

 [Signature Page Follows] 
  

 16 

 IN WITNESS WHEREOF, Executive has hereunto set his or her hand and the Company has caused this Agreement
to be executed in its name and on its behalf and its corporate seal to be hereunto affixed and attested by its corporate officers thereunto duly authorized. 
  

			
	 
	Executive

  

			
	Harrah’s Operating Company, Inc.
		
	By:	 	 
	Its:

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