Document:

EX-10.2

 Exhibit 10.2 

 

THIS AGREEMENT IS NOT, AND SHALL NOT BE DEEMED, A SOLICITATION FOR CONSENTS TO THE CEOC PLAN PURSUANT TO
SECTIONS 1125 AND 1126 OF THE BANKRUPTCY CODE. VOTES ON THE CEOC PLAN SHALL NOT BE SOLICITED UNTIL SUCH PARTY HAS RECEIVED THE DISCLOSURE STATEMENT AND RELATED BALLOT(S), AS APPROVED BY THE BANKRUPTCY COURT. 

AMENDED AND RESTATED RESTRUCTURING SUPPORT AGREEMENT 

This Amended and Restated Restructuring Support Agreement dated as of July 9, 2016 (as amended, supplemented, or otherwise modified from
time to time, this “Agreement”) amends, restates, and replaces in its entirety the Restructuring Support Contribution Agreement dated as of June 12, 2016, including all schedules, annexes, and exhibits attached thereto, among:
(i) Caesars Entertainment Operating Company, Inc. (“CEOC”), on behalf of itself and each of the debtors in the Chapter 11 Cases and its other direct and indirect Subsidiaries (as defined below, collectively, the
“Company”), and (ii) Caesars Acquisition Company, on behalf of itself and each of its direct and indirect Subsidiaries (collectively, “CAC,” and together with the Company, each referred to as a
“Party” and collectively referred to as the “Parties”). All capitalized terms not defined herein shall have the meanings ascribed to them in the CEOC Plan (as defined below). 

RECITALS: 

WHEREAS, before the date hereof, the Parties and their representatives engaged in arm’s-length, good-faith negotiations regarding
a potential reorganization and realignment of certain of the Parties’ respective assets and operations, restructuring of the Company’s funded indebtedness and settlement of potential and actual claims asserted by the Company against its
non-debtor affiliates pursuant to the CEOC Plan, which negotiations resulted in the terms and conditions of this Agreement and the terms and conditions set forth in the CEOC Plan, including without limitation the Merger (collectively, the
“Restructuring”); 
 WHEREAS, the Company has investigated claims and causes of action against CAC and its
affiliates, sponsors, and others, as more fully disclosed in the CEOC Disclosure Statement (as defined below) (the “SGC Investigation”); provided, however, that CAC disputes many of the conclusions reached by the
Company as a result of the SGC Investigation and expressly reserves all rights to challenge those conclusions in connection with any litigation regarding the CEOC Plan or otherwise; 

WHEREAS, a chapter 11 examiner appointed in the Chapter 11 Cases investigated the claims and causes of action held by the Company and
its chapter 11 estates against CAC, and its affiliates, sponsors, and others, as more fully described in the Final Version of Examiner’s Final Report (Substantially Unredacted) Chapter 11 Cases, Docket No. 3720 (the
“Examiner Report”); provided, however, that CAC disputes many of the conclusions articulated in the Examiner Report and expressly reserves all rights to challenge those conclusions in connection with any litigation
regarding the CEOC Plan or otherwise; 

 WHEREAS, the Restructuring, the CEOC Plan and the distributions to be made to creditors
under the CEOC Plan are dependent upon the substantial, valuable contributions that CAC, through New CEC (as defined below) has agreed to make on, and subject to, the terms and conditions of this Agreement and the CEOC Plan; 

WHEREAS, the Restructuring, the CEOC Plan and the distributions of New CEC securities to be made to creditors under the CEOC Plan are
dependent and expressly conditioned upon the occurrence of a merger of CEC (as defined below) and CAC on terms and conditions acceptable to each of CEC and CAC; and 

WHEREAS, the Restructuring settles all potential and actual claims of the Company against its non-debtor affiliates, including against
CAC and its affiliates, sponsors, officers and directors and including all potential claims and causes of action investigated by the SGC Investigation and discussed in the Examiner Report, on the terms and conditions set forth in this Agreement and
the CEOC Plan. 
 NOW, THEREFORE, in consideration of the covenants contained herein and in the CEOC Plan, each Party, intending to
be legally bound hereby, agrees as follows. 
 1. Definitions; Rules of Construction. 

(a) Definitions. The following terms shall have the following definitions. 

“105 Injunction Order” means an order of the Bankruptcy Court or any other court of competent jurisdiction temporarily
enjoining the Caesars Cases on terms and conditions acceptable to CEC. 
 “Agreement” has the meaning set forth in the
preamble hereof. 
 “Alternative Proposal” means any dissolution or winding up, plan of reorganization or liquidation,
merger, consolidation, business combination, sale or issuance of equity interests, sale of a material portion of assets or restructuring involving CAC, its Subsidiaries or the Company or any offer or proposal for the foregoing, other than the
Restructuring or a transaction that is part of the Restructuring or is permitted under Section 16 hereof. 
 “Bankruptcy
Code” means title 11 of the United States Code, 11 U.S.C. §§101 et seq. 
 “Bankruptcy Court”
means the United States Bankruptcy Court for the Northern District of Illinois. 
 “Business Day” means any day other than
Saturday, Sunday, and any day that is a legal holiday or a day on which banking institutions in New York, New York are authorized by law or other governmental action to close. 

“CAC” has the meaning set forth in the preamble hereof. 

  
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 “CAC Termination Event” has the meaning set forth in Section 6
hereof. 
 “Caesars Cases” means the cases captioned (a) Wilmington Savings Fund Society, FSB, solely in its
capacity as successor Indenture Trustee for the 10% Second-Priority Senior Secured Notes due 2018, on behalf of itself and derivatively on behalf of Caesars Entertainment Operating Company, Inc. v. Caesars Entertainment Corporation, et. al.,
Case No. 10004-VCG (Del. Ch.), (b) Trilogy Portfolio Company LLC, et. al. v. Caesars Entertainment Corporation and Caesars Entertainment Operating Company, Inc., No. 14-cv-7091 (S.D.N.Y.), (c) Frederick Barton Danner v.
Caesars Entertainment Corporation and Caesars Entertainment Operating Company, Inc., No. 14-cv-7973 (S.D.N.Y.), (d) BOKF, N.A., solely in its capacity as successor Indenture Trustee for the 12.75% Second-Priority Senior Secured
Notes due 2018 v. Caesars Entertainment Corporation, Case No. 15-cv-01561 (S.D.N.Y.), (e) UMB Bank, N.A. solely in its capacity as Indenture Trustee under those certain indentures, dated as of June 10, 2009, governing Caesars
Entertainment Operating Company, Inc.’s 11.25% Notes due 2017; dated as of February 14, 2012, governing Caesars Entertainment Operating Company, Inc.’s 8.5% Senior Secured Notes due 2020; dated August 22, 2012, governing Caesars
Entertainment Operating Company. Inc.’s 9% Senior Secured Notes due 2020; dated February 15, 2013, governing Caesars Entertainment Operating Company, Inc.’s 9% Senior Secured Notes due 2020 v. Caesars Entertainment
Corporation, Case No. 15-cv-04634 (S.D.N.Y.), (f) Wilmington Trust, N.A., solely in its capacity as successor Indenture Trustee for the 10.75% Notes due 2016 v. Caesars Entertainment Corporation, Case No. 15-cv-08280
(S.D.N.Y.), and (g) all claims in, and causes of action relating to, the Caesars Cases otherwise described in clauses (a)–(f) above. 

“CEC” means Caesars Entertainment Corporation. 

“CEC Bankruptcy Event” means the filing against CEC of an involuntary bankruptcy petition. 

“CEC Chapter 11 Case” means, if applicable, a voluntary chapter 11 case filed by CEC or a chapter 11 case commenced by CEC
following a CEC Bankruptcy Event. 
 “CEC/CEOC RSA” means that certain First Amended and Restated Restructuring Support,
Settlement and Contribution Agreement, dated as of July 9, 2016, between CEC and CEOC, as it may be amended, modified or restated from time to time. 

“CEOC” has the meaning set forth in the preamble hereof. 

“CEOC Confirmation Order” means the entry by the Bankruptcy Court of an order confirming the CEOC Plan that is materially
consistent with this Agreement and the CEOC Plan and otherwise acceptable to the Company and CAC. 
 “CEOC Disclosure
Statement” means the Company’s disclosure statement, including any exhibits, appendices, related documents, ballots, and procedures related to the solicitation of votes to accept or reject the CEOC Plan, in each case, as amended,
supplemented, or otherwise modified from time to time in accordance with the terms hereof, in respect of the CEOC Plan and that is prepared and distributed in accordance with, among other things, sections 1125, 1126(b), and 1145 of the Bankruptcy
Code, Rule 3018 of the Federal Rules of Bankruptcy Procedure, and other applicable law, each of which shall be substantially consistent with this Agreement and the CEOC Plan, and shall otherwise be reasonably acceptable to the Company and CAC. 

  
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 “CEOC Plan” means the joint chapter 11 plan of reorganization for the Company
through which the Restructuring will be effected (as amended, supplemented, or otherwise modified from time to time), a copy of which proposed plan is attached hereto as Exhibit A, and any and all amendments thereto must be in form and
substance materially consistent with this Agreement and the CEOC Plan, and shall otherwise be acceptable to the Company and CAC. 

“Chapter 11 Cases” means the voluntary chapter 11 cases titled Caesars Entertainment Operating Company, Inc., et. al.,
Case No. 15-01145 (Bankr. N.D. Ill.). 
 “CIE Transaction” has the meaning set forth in Section 16 hereof.

 “Company” has the meaning set forth in the preamble hereof. 

“Company Fiduciary Out” has the meaning set forth in Section 5(c) hereof 

“Company Termination Event” has the meaning set forth in Section 5 hereof. 

“Definitive Documentation” means the CEOC Plan, the CEOC Disclosure Statement, the CEOC Confirmation Order, and any court
filings in the Chapter 11 Cases, and any other agreements, documents or exhibits related to or contemplated in the foregoing (but not, for the avoidance of doubt, any professional retention motions or applications), that could be reasonably expected
to affect the interests of the Company or CAC in connection with the Restructuring and any other agreements, instruments, certificates, or other documents necessary, desirable or appropriate in order to effectuate the Restructuring. 

“Effective Date” means the date upon which all conditions precedent to the effectiveness of the CEOC Plan have been satisfied
or are expressly waived in accordance with the terms thereof, as the case may be, and on which the Restructuring and the other transactions to occur on the Effective Date pursuant to the CEOC Plan become effective or are consummated. 

“Examiner Report” has the meaning set forth in the recitals hereof. 

“Merger Agreement” means the Amended and Restated Agreement and Plan of Merger between Caesars Acquisition Company and
Caesars Entertainment Corporation, dated as of July 9, 2016, as it may be amended from time to time. 
 “New CEC”
means CEC, giving effect to the merger of CAC with and into CEC pursuant to, and the consummation of the other transactions contemplated by, the Merger Agreement. 

“Outside Date” means December 31, 2017. 

“Parties” has the meaning set forth in the preamble hereof. 

  
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 “Person” means an individual, a partnership, a joint venture, a limited
liability company, a corporation, a trust, an unincorporated organization, a group or any legal entity or association. 

“Restructuring” has the meaning set forth in the recitals hereof. 

“Restructuring Support Period” means the period commencing on the date hereof and ending on the earlier of (i) the date
on which this Agreement is terminated with respect to all Parties and (ii) the Effective Date. 
 “SGC Investigation”
has the meaning set forth in the recitals hereof. 
 “Sponsor Agreements” means (i) the Voting Agreement, dated as of
July 9, 2016, by and between Hamlet Holdings LLC, a Delaware limited liability company, its members named therein, certain of the Sponsors and CEC, and (ii) the Voting Agreement, dated as of July 9, 2016, by and between Hamlet
Holdings LLC, its members named therein, certain of the Sponsors and CAC. 
 “Subsidiary” means, with respect to any
Person, any controlled subsidiary of such Person. 
 “Termination Date” means the date this Agreement is terminated in
accordance with the terms hereof. 
 “Termination Events” has the meaning set forth in Section 6 hereof. 

(b) Rules of Construction. Each reference in this Agreement to “this Agreement”, “hereunder”, “hereof”,
“herein”, or words of like import shall mean and be a reference to this Agreement and the CEOC Plan, taken as a whole. 
 2.
Commitments of CAC. 
 (a) Affirmative Covenants. Subject to the terms and conditions hereof, for the duration of the
Restructuring Support Period, CAC agrees that it shall: 
 (i) (A) support the Restructuring, (B) support and take, and cause (directly
or indirectly) to be taken (to the extent within its control), those actions contemplated by this Agreement or otherwise necessary, desirable, or appropriate to effectuate the Restructuring, including entering into all documents and agreements
necessary to consummate the Restructuring, in each case, to which CAC or any of its controlled subsidiaries is a party, and complete the Restructuring and all transactions contemplated under this Agreement and the CEOC Plan, (C) negotiate in
good faith and execute and deliver the Definitive Documentation necessary to effectuate the Restructuring, in form and substance consistent in all material respects with this Agreement and the CEOC Plan and as otherwise reasonably acceptable to the
Company and CAC, (D) use its commercially reasonable efforts to obtain any and all required governmental, regulatory, licensing, or other approvals (including, without limitation, any necessary third-party consents) necessary to the
implementation or consummation of the Restructuring, (E) use its commercially reasonable efforts to lift or otherwise reverse the effect 

  
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of any injunction or other order or ruling of a court or regulatory body that would impede the consummation of a material aspect of the Restructuring and (F) subject to
Section 16 hereof and the other terms and conditions hereof, operate CAC in the ordinary course consistent with industry practice and the operations contemplated pursuant to CAC’s business plan taking into account the Restructuring;
provided, however, that notwithstanding anything to the contrary in this Agreement, nothing shall limit, impair or impede CAC’s rights to assert positions in litigation that challenge or dispute any findings or conclusions
contained in the Examiner Report or reached or articulated by CEOC as a result of the SGC Investigation; 
 (ii) promptly notify or update
the Company upon becoming aware of any of the following occurrences: (A) a Termination Event or (B) material developments, negotiations or proposals relating any case or controversy that may be commenced against CAC or any of its
controlled subsidiaries in a court of competent jurisdiction or brought before a state or federal regulatory, licensing, or similar board, authority, or tribunal that would reasonably be expected to materially impede or prevent consummation of the
Restructuring (including any amendment to or modification or waiver of the Merger Agreement or the Sponsor Agreements that would have such effect or any termination of the Merger Agreement or the Sponsor Agreements); 

(iii) use commercially reasonable efforts to procure or facilitate the procurement of entry into a tolling agreement (in form and substance
reasonably acceptable to the Company) (a “Tolling Agreement”) from each individual and entity identified in the SGC Investigation and the Examiner Report (collectively, the “Tolling Parties”) by September 30,
2016. In the event a Tolling Agreement from any Tolling Party has not been procured by September 30, 2016, notwithstanding anything to the contrary herein, the Company may commence actions to begin pursuing any and all claims that they or their
bankruptcy estates may have against such Tolling Party, including any and all claims identified in the Examiner Report and the SGC Investigation; provided, however, that for the duration of the Restructuring Support Period, the Company
shall negotiate in good faith with any such Tolling Party to hold any such action in abeyance pending consummation of the Restructuring; 

(iv) use commercially reasonable efforts to cause the CAC Stockholder Meeting (as defined in the Merger Agreement) to be held and completed
prior to the Voting Deadline Date (as defined below). 
 (b) Negative Covenants. Subject to the terms and conditions hereof, for the
duration of the Restructuring Support Period, CAC agrees that it shall not, and shall not permit its controlled subsidiaries to, directly or indirectly: 

(i) seek, solicit, or support an Alternative Proposal; 

(ii) take, or authorize or permit to be taken, any action materially inconsistent with the transactions contemplated by this Agreement or the
CEOC Plan, or that would materially delay or obstruct the consummation of the Restructuring or adversely affect the consideration to be delivered to any party in connection therewith, including without limitation any amendment to or modification or
waiver of the Merger Agreement or the Sponsor Agreements that would have such effect and any amendment to or modification or waiver of the Merger Agreement that would permit any Sponsor to terminate any Sponsor Agreement; 

  
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 (iii) enter into or consummate any Acquisition Proposal, Acquisition Agreement or Superior
Proposal (each as defined in the Merger Agreement), in each case, without providing the Company at least ten (10) Business Days prior notice; 

(iv) take, or authorize or permit to be taken, any action in connection with the Restructuring that violates this Agreement; 

(v) initiate any litigation or other proceeding or enter into any proposed settlement of any Claim, litigation, dispute, controversy, cause
of action, proceeding, appeal, determination, investigation, matter, or otherwise, in each case, that would materially impair the Company’s or New CEC’s ability to consummate the Restructuring or that would provide for treatment of any
Claim that is greater than the treatment provided for such Claim pursuant to the CEOC Plan without the express written consent of the Company (which can be delivered by email from counsel to the Company); 

(vi) (A) publicly announce its intention not to pursue the Restructuring; (B) suspend or revoke the Restructuring; or (C) execute
any agreements, instruments, or other documents (including any modifications or amendments to any material Definitive Documentation) necessary to effectuate the Restructuring that, in whole or in part, are not materially consistent with this
Agreement and the CEOC Plan, or are not otherwise reasonably acceptable to the Company; 
 (vii) take any action or omit to take any
action, or incur, enter into, or suffer any transaction, arrangement, condition, matter, or circumstance, that (in any such case) materially impairs, or would reasonably be expected to materially impair, the ability of New CEC to perform its
obligations to carry out the Restructuring; 
 (viii) (A) subject to Section 16 and the other terms and conditions
hereof, sell, transfer, lease, license, pledge, allow to lapse, or otherwise dispose of (by merger, consolidation, or sale of stock or assets), subject to a Lien or otherwise encumber any material assets (including material intellectual
property or the equity or assets of any direct or indirect Subsidiary) other than transfers from one wholly-owned Subsidiary to another wholly-owned Subsidiary; (B) amend or propose to amend any organizational documents; (C) split,
combine, or reclassify any outstanding equity interests, or declare, set aside, or pay any dividend payable in cash, stock, property, or otherwise with respect to such shares or other equity interest (other than distributions and dividends by
wholly-owned Subsidiaries of CAC); or (D) redeem, purchase, acquire, or offer to acquire any equity interests; that (in any such case of (A)-(D)) materially impairs, or would reasonably be expected to materially impair, the ability of New CEC
to carry out its obligations in connection with the Restructuring; 
 (ix) (A) issue, sell, pledge, or dispose of any Equity Interests
other than equity awards in the ordinary course to the management and directors of CAC and its Subsidiaries; (B) acquire (by merger, consolidation, or acquisition of stock or assets) any corporation, partnership, or other business organization
or division thereof; (C) incur any 

  
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indebtedness for borrowed money, except in the ordinary course consistent with industry practice or issue any debt securities; or (D) dissolve or otherwise alter its corporate or other
organizational existence (other than any dissolution of Subsidiaries of CAC that are inactive); that (in any such case of (A)-(C)) materially impairs, or would reasonably be expected to materially impair, the ability of New CEC to carry out its
obligations in connection with the Restructuring; or 
 (x) agree or otherwise commit to any of the foregoing. 

(c) CEOC Plan Covenants. Without limiting anything in this Section 2, to the extent within its respective control, CAC will
take, will cause its controlled subsidiaries to take, and will use commercially reasonable efforts to cause (directly or indirectly) New CEC, upon consummation of the Merger, to take, all actions necessary or appropriate (including the negotiation
(consistent with this Agreement and the CEOC Plan), execution, and delivery of Definitive Documentation to which such Person is a party) to timely consummate the CEOC Plan, including without limitation the following (it being understood that
consummation of the transactions contemplated by the CEOC Plan are subject to the terms and conditions of the CEOC Plan, including consummation of the Merger, but CAC will take, and will cause its controlled subsidiaries to take, the actions and
make the efforts contemplated by this Section 2(c) in preparation for and in anticipation of such consummation): 
 (i) the
performance of all actions, deliveries, and obligations of New CEC contemplated by the CEOC Plan; 
 (ii) the negotiation (consistent
with this Agreement and the CEOC Plan), execution, and delivery of the New CEC Convertible Note Documents and the issuance and delivery of $1,000,000,000 of New CEC Convertible Notes; 

(iii) the issuance of up to 52.7% of the New CEC Common Equity (which includes the New CEC Common Equity issuable pursuant to the New CEC
Convertible Notes) in accordance with the terms of the CEOC Plan; 
 (iv) the commencement and consummation of any New CEC Capital Raise to
fund New CEC’s contributions to the CEOC Plan, provided that all holders of, or persons that will hold, New CEC Common Equity shall have preemptive rights to participate (pro rata based on such holder’s actual or anticipated pro
forma New CEC Common Equity) in any New CEC Capital Raise; provided, further, that to the extent that the Company determines that the structure of a New CEC Capital Raise would have negative consequences with respect to the tax
treatment of the Spin Structure, the Company shall be able to modify or eliminate to the extent necessary the New CEC Capital Raise to avoid such negative consequences; 

(v) the consummation of the transactions contemplated by the Merger Agreement and the Sponsor Agreements and enforcement of its rights
thereunder in accordance with the terms thereof (except to the extent such failure to enforce its rights would not materially delay or impede the consummation of the CEOC Plan); 

(vi) the New CEC OpCo Stock Purchase for $700,000,000 in Cash; 

  
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 (vii) the New CEC PropCo Common Stock Purchase, if applicable, for $91,000,000 in Cash,
provided that if the PropCo Equity Election contemplated by the CEOC Plan would materially affect the amount and/or value of PropCo Common Equity New CEC must purchase for the Partnership Contribution Structure, the Company and
New CEC shall negotiate the amount of Cash necessary to purchase 5% of PropCo Common Equity pursuant to the New CEC PropCo Common Stock Purchase; 

(viii) the contribution and/or distribution of Cash, including the New CEC Cash Contribution and including the Cash proceeds from the
New CEC Capital Raise to be used to fund the consummation of the Restructuring; 
 (ix) the negotiation (consistent with this Agreement and
the CEOC Plan), execution, and delivery of amendments to the CES LLC Agreement and the CES Shared Services Agreement; 
 (x) the
negotiation (consistent with this Agreement and the CEOC Plan), execution, and delivery of the OpCo Guaranty Agreement, the Management and Lease Support Agreements, and Master Lease Agreements; 

(xi) the contribution of the Bank Guaranty Purchase Price (as calculated in the CEOC Plan) to the Company; 

(xii) the establishment of the composition of the New CEC board of directors; 

(xiii) the negotiation (consistent with this Agreement and the CEOC Plan), execution, and delivery of the Right of First Refusal Agreement;
and 
 (xiv) the negotiation (consistent with this Agreement and the CEOC Plan), execution, and delivery of the PropCo Call Right
Agreement. 
 (d) Cooperation. Without limiting anything in this Section 2, CAC will, and will cause its controlled
subsidiaries to, use its commercially reasonable efforts and continue to cooperate with the Company and other parties in the implementation of the Restructuring, including providing, making available and/or providing access to the premises,
properties, businesses, operations, books and records and other information that is reasonably requested in connection with implementing the Restructuring (subject to existing confidentiality obligations among various parties, attorney/client and
other privileges and immunities and other customary limitations appropriate under the circumstances) and responding timely, and causing applicable personnel (including CES personnel) to respond timely, to such requests. 

(e) Certain Covenants Regarding Merger Agreement. CAC will keep the Company reasonably updated, including with weekly updates, with
respect to the Merger Agreement and developments related thereto, including with respect to the Shareholder Votes and any Acquisition Proposal, Acquisition Agreement or Superior Proposal (each as defined in the Merger Agreement) and providing the
Company contemporaneously with copies of any notices received or delivered with respect to the Merger Agreement. 

  
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 (f) Nothing in this Agreement shall limit, impair or impede (i) the exercise of the
fiduciary duties of the board of directors of CAC pursuant to and in accordance with the terms of Section 3.1 or 5.7 of the Merger Agreement or (ii) CAC’s right to perform its obligations and exercise its rights as set forth under the
Merger Agreement, including as set forth in Article VII thereof (other than Section 7.1(a) thereof) (it being acknowledged and agreed that the taking of any action pursuant to either of the immediately preceding clause (i) or
(ii) shall in no event constitute a breach of this Agreement); provided that in no event shall clause (ii) of this Section 2(f) be deemed to otherwise limit CAC’s obligations under Sections 2(a)(ii), 2(a)(iv),
2(b)(ii) and 2(c)(v) of this Agreement with respect to the Merger Agreement and enforcement of its rights thereunder (in accordance with the terms thereof). 

3. Covenants of the Company. 

(a) Affirmative Covenants of the Company. Subject to the terms and conditions hereof, for the duration of the Restructuring Support
Period, the Company shall: 
 (i) (A) support the Restructuring, (B) support and take, and cause (directly or indirectly) to be taken
(to the extent within its control) those actions contemplated by this Agreement or otherwise necessary, desirable or appropriate to effectuate the Restructuring, including entering into all documents and agreements necessary to consummate the
Restructuring, in each case, to which the Company is a Party, and complete the Restructuring and all transactions contemplated under this Agreement, the CEOC Plan, including but not limited to obtaining all Releases for all Released Parties on the
terms set forth in Article VIII of the CEOC Plan, (C) negotiate in good faith and execute and deliver the Definitive Documentation necessary to effectuate the Restructuring, in form and substance consistent in all material respects with this
Agreement, the CEOC Plan and as otherwise reasonably acceptable to the Company and CAC, (D) use its commercially reasonable efforts to obtain any and all required governmental, regulatory, licensing, Bankruptcy Court, or other approvals
(including, without limitation, any necessary third-party consents) necessary to the implementation or consummation of the Restructuring, (E) use its commercially reasonable efforts to lift or otherwise reverse the effect of any injunction or
other order or ruling of a court or regulatory body that would impede the consummation of a material aspect of the Restructuring, and (F) operate the Company in the ordinary course consistent with industry practice and the operations
contemplated pursuant to the Company’s business plan taking into account the Restructuring and the commencement of the Chapter 11 Cases; 

(ii) promptly notify or update CAC upon becoming aware of any of the following occurrences: (A) a Termination Event or (B) material
developments, negotiations or proposals relating any other case or controversy that may be commenced against the Company in a court of competent jurisdiction or brought before a state or federal regulatory, licensing, or similar board, authority, or
tribunal that would reasonably be expected to materially impede or prevent consummation of the Restructuring; 
 (iii) to the extent all
issues related to the underlying guaranty litigation are not otherwise resolved through settlement or mediation prior to such date, use commercially reasonable efforts to file a motion on or before August 14, 2016 in form and substance
reasonably acceptable to CEC seeking to extend the 105 Injunction Order currently in effect to the period ending on the Confirmation Date; 

  
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 (iv) promptly provide CAC with notice of any Alternative Proposals received by the Company; 

(v) promptly provide CAC with notice of any material discussions or communications that the Company engages in with any of its creditors that
could reasonably be expected to affect CEC’s rights, obligations or interests in the Restructuring and use commercially reasonable efforts to include CAC in such discussions or communications; 

(vi) consult and fully cooperate with CAC on all issues relating to any negotiations and litigation regarding the CEOC Plan, including all
matters relating to discovery, witness preparation, trial preparation, presentation and strategy in connection with the CEOC Plan. 
 (b)
Negative Covenants of the Company. Subject to the terms and conditions hereof, for the duration of the Restructuring Support Period, the Company shall not, and shall not permit its controlled subsidiaries to, directly or indirectly: 

(i) seek, solicit, or support an Alternative Proposal; 

(ii) take, or authorize or permit to be taken, any action materially inconsistent with the transactions contemplated by this Agreement or the
CEOC Plan, or that would materially delay or obstruct the consummation of the Restructuring or adversely affect the consideration to be delivered to any party in connection therewith; 

(iii) make any changes, amendments or modifications to the CEOC Plan that are not in form and substance materially consistent with this
Agreement and the CEOC Plan, or otherwise not reasonably acceptable to CAC, without CAC’s prior written consent; 
 (iv) take, or
authorize or permit to be taken, any action in connection with the Restructuring that violates this Agreement; 
 (v) initiate any
litigation or other proceeding or enter into any proposed settlement of any Claim, litigation, dispute, controversy, cause of action, proceeding, appeal, determination, investigation, matter, or otherwise, in each case, that would materially impair
the Company’s ability to consummate the Restructuring; 
 (vi) (A) publicly announce its intention not to pursue the Restructuring;
(B) suspend or revoke the Restructuring; or (C) execute any agreements, instruments, or other documents (including any modifications or amendments to any material Definitive Documentation) necessary to effectuate the Restructuring
that, in whole or in part, are not materially consistent with this Agreement and the CEOC Plan, or are not otherwise reasonably acceptable to CAC; 

(vii) take any action or omit to take any action, or incur, enter into, or suffer any transaction, arrangement, condition, matter, or
circumstance, that (in any such case) materially impairs, or would reasonably be expected to materially impair, the ability of the Company to perform its obligations to carry out the Restructuring; 

  
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 (viii) (A) sell, transfer, lease, license, pledge, allow to lapse, or otherwise dispose of
(by merger, consolidation, or sale of stock or assets), subject to a Lien or otherwise encumber any material assets (including material intellectual property or the equity or assets of any direct or indirect Subsidiary); (B) amend or propose to
amend any organizational documents; (C) split, combine, or reclassify any outstanding equity interests, or declare, set aside, or pay any dividend payable in cash, stock, property, or otherwise with respect to such shares or other equity
interest; or (D) redeem, purchase, acquire, or offer to acquire any equity interests; 
 (ix) (A) issue, sell, pledge, or dispose
of any Equity Interests; (B) acquire (by merger, consolidation, or acquisition of stock or assets) any corporation, partnership, or other business organization or division thereof; (C) incur any indebtedness for borrowed money, except in
the ordinary course consistent with industry practice or issue any debt securities; or (D) dissolve or otherwise alter its corporate or other organizational existence; or 

(x) agree or otherwise commit to any of the foregoing. 

(c) Cooperation. Without limiting anything in this Section 3 the Company will use its commercially reasonable efforts and
continue to cooperate with CAC and other parties in the implementation of the Restructuring, including providing, making available and/or providing access to the premises, properties, businesses, operations, books and records and other information
that is reasonably requested in connection with implementing the Restructuring (subject to existing confidentiality obligations among various parties, attorney/client and other privileges and immunities and other customary limitations appropriate
under the circumstances) and responding timely, and causing applicable personnel to respond timely, to such requests. 
 4. Mutual
Representations, Warranties and Covenants. 
 (a) Each of the Parties, severally and not jointly and solely with respect to itself,
represents and warrants to each other Party that the following statements are true, correct, and complete as of the date hereof: 
 (i) this
Agreement is a legal, valid, and binding obligation of such Party, enforceable against it in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium, or other similar laws relating to or
limiting creditors’ rights generally or by equitable principles relating to enforceability; 
 (ii) except for any and all required
Gaming Approvals, board of director and shareholder approvals necessary for the Merger, as expressly provided in this Agreement, the CEOC Plan or in the Bankruptcy Code, or as may be required for disclosure by the Securities and Exchange Commission,
no material consent or approval of, or any registration or filing with, any other Person is required for the Company or CAC to carry out the Restructuring contemplated by, and for each Party to perform its obligations under, this Agreement; 

  
 12 

 (iii) except as expressly provided in this Agreement or the Bankruptcy Code, it has all
requisite organizational power and authority to enter into this Agreement and, for the Company and New CEC to carry out the Restructuring contemplated by, and, for each Party, perform its obligations under, this Agreement; 

(iv) the execution and delivery by it of this Agreement, and the performance of its obligations hereunder, have been duly authorized by all
necessary organizational action on its part; 
 (v) it has been represented by counsel in connection with this Agreement and the
transactions contemplated by this Agreement; and 
 (vi) the execution, delivery, and performance by such Party of this Agreement does not
and will not (1) violate any provision of law, rule, or regulation applicable to it or any of its Subsidiaries or its charter, bylaws, or other similar governing documents, or those of any of its Subsidiaries, if applicable, (2) conflict
with, result in a breach of, or constitute (with or without notice or lapse of time or both) a default under any material debt for borrowed money to which it or any of its Subsidiaries is a party, or (3) violate any order, writ, injunction,
decree, statute, rule, or regulation; provided that, (x) the foregoing shall not apply with respect to any Party on account of any defaults arising from the commencement of the Chapter 11 Cases or the pendency of the
Restructuring and (y) nothing in this Section 4(a)(vi) shall, or shall be deemed to, waive, limit, or otherwise impair each of the Parties’ respective ability to exercise its duties as set forth in Section 15
hereof. 
 (b) Each Party, severally and not jointly, represents and warrants to the other Party that as of the date hereof, it is validly
existing and in good standing under the laws of the state of its organization. 
 5. Company Termination Events. This
Agreement may be terminated by delivery to CAC of a notice, delivered in accordance with Section 21 of this Agreement, by the Company upon the occurrence of any of the following events (each a “Company Termination
Event”): 
 (a) the breach by any of CAC of any of its obligations, representations, warranties, or covenants set forth in this
Agreement in any respect that would reasonably be expected to materially impede or prevent consummation of the Restructuring, which breach remains uncured for a period of five (5) Business Days after the receipt by CAC from the Company of
written (including email) notice of such breach; 
 (b) the issuance, promulgation, or enactment by any governmental entity, including any
regulatory or licensing authority or court of competent jurisdiction, of any statute, regulation, ruling or order declaring this Agreement or any material portion hereof to be unenforceable or enjoining or otherwise restricting the consummation of a
material portion of the Restructuring (including with respect to the regulatory approvals or tax treatment contemplated by the Restructuring), which action remains uncured for a period of five (5) Business Days after the receipt by the Company
and CAC or New CEC, as applicable, of written notice of such event; provided that the Company has otherwise complied with its obligations under Section 3(a)(i)(D) or (E) of this Agreement; 

  
 13 

 (c) the exercise by the Company of its duties as set forth by Section 15 hereof (the
“Company Fiduciary Out”); 
 (d) CAC files any motion, pleading, or other document with the Bankruptcy Court that is
materially inconsistent with this Agreement or the CEOC Plan and such motion or pleading has not been withdrawn or corrected within seven (7) Business Days of such Party receiving written notice from the Company that such motion or pleading is
materially inconsistent with this Agreement; 
 (e) if any of the Definitive Documentation (including any amendment or modification thereof)
necessary to effectuate the Restructuring is filed with the Bankruptcy Court or is otherwise finalized and contains terms and conditions materially inconsistent with this Agreement or the CEOC Plan or is otherwise not on terms reasonably acceptable
to the Company, and such material and adverse inconsistency remains uncured for a period of five (5) Business Days after the receipt by CAC of written notice of such material and adverse inconsistency; 

(f) the appointment of a trustee under section 1104 of the Bankruptcy Code or an examiner with expanded powers beyond those set forth in
section 1106(a)(3) and (4) of the Bankruptcy Code in a CEC Chapter 11 Case. For the avoidance of doubt, the prior appointment of the examiner in the Chapter 11 Cases pursuant to the examiner order shall not constitute a Company
Termination Right; 
 (g) a CEC Chapter 11 Case is converted to a case under chapter 7 of the Bankruptcy Code or a CEC Chapter 11 Case shall
have been dismissed, in each case, by order of the Bankruptcy Court, which order has not been stayed; 
 (h) the Merger Agreement or any
Sponsor Agreement terminates or is amended, modified or waived in a manner not reasonably acceptable to the Company; 
 (i) the CEC/CEOC RSA
terminate; or 
 (j) the Effective Date has not occurred by the Outside Date. 

6. CAC Termination Events. Upon CAC’s election, this Agreement may be terminated by delivery to the Company of a notice,
delivered in accordance with Section 21 of this Agreement, by CAC upon the occurrence of any of the following events (each a “CAC Termination Event”, and together with the Company Termination Events, the
“Termination Events”): 
 (a) the breach by the Company of any of its obligations, representations, warranties, or covenants
set forth in this Agreement in any respect that materially and adversely affects CAC’s interests in connection with the Restructuring or would reasonably be expected to materially impede or prevent consummation of the Restructuring, which
breach remains uncured for a period of five (5) Business Days after the receipt by the Company of written notice of such breach from CAC; 

  
 14 

 (b) the issuance, promulgation, or enactment by any governmental entity, including any regulatory
or licensing authority or court of competent jurisdiction, of any statute, regulation, ruling or order declaring this Agreement or any material portion hereof to be unenforceable or enjoining or otherwise restricting the consummation of a material
portion of the Restructuring (including with respect to the regulatory approvals or tax treatment contemplated by the Restructuring), which action remains uncured for a period of five (5) Business Days after the receipt by the Company of
written notice of such event; provided that CAC has otherwise complied with its obligations under Section 2(a)(i)(D) of this Agreement; 

(c) the Company (including any of its debtor Subsidiaries) files any motion, pleading, or other document with the Bankruptcy Court in the
Chapter 11 Cases that is materially inconsistent with this Agreement or the CEOC Plan and such motion or pleading has not been withdrawn or corrected within seven (7) Business Days of the Company receiving written notice from CAC that such
motion or pleading is materially inconsistent with this Agreement; 
 (d) any of the Definitive Documentation (including any amendment or
modification thereof) necessary to effectuate the Restructuring is filed with the Bankruptcy Court or is otherwise executed, in either case, in form and substance that is not materially consistent with this Agreement and the CEOC Plan, or otherwise
not reasonably acceptable to CAC, without the prior written consent of CAC; 
 (e) the scheduling order issued by the Bankruptcy Court
establishing the timetable for the confirmation process and all related deadlines is not reasonably acceptable to CAC; 
 (f) the CEOC
Confirmation Order is not entered by June 30, 2017; 
 (g) a trustee under section 1104 of the Bankruptcy Code or an examiner with
expanded powers beyond those set forth in section 1106(a)(3) and (4) of the Bankruptcy Code shall have been appointed in the Chapter 11 Cases. For the avoidance of doubt, the prior appointment of the examiner in the Chapter 11 Cases
pursuant to the examiner order shall not constitute a CAC Termination Right; 
 (h) the Chapter 11 Cases are converted to cases under
chapter 7 of the Bankruptcy Code or the Chapter 11 Cases shall have been dismissed, in each case, by order of the Bankruptcy Court, which order has not been stayed; 

(i) if either the class comprised of the Prepetition Credit Agreement Claims or the class comprised of the Secured First Lien Notes Claims
does not vote to accept the CEOC Plan as of the applicable Voting Deadline; 
 (j) the failure by the Company to obtain satisfaction or
waiver of any of the conditions to Consummation of the CEOC Plan; 
 (k) the Merger Agreement terminates; 

(l) the CEC/CEOC RSA terminates (including, but not limited to, pursuant to section 6(m) thereof); 

  
 15 

 (m) the Effective Date has not occurred by the Outside Date; 

(n) the appointment of a trustee under section 1104 of the Bankruptcy Code or an examiner with expanded powers beyond those set forth in
section 1106(a)(3) and (4) of the Bankruptcy Code in a CEC Chapter 11 Case. For the avoidance of doubt, the prior appointment of the examiner in the Chapter 11 Cases pursuant to the examiner order shall not constitute a Company
Termination Right; or 
 (o) a CEC Chapter 11 Case is converted to a case under chapter 7 of the Bankruptcy Code or a CEC Chapter 11 Case
shall have been dismissed, in each case, by order of the Bankruptcy Court, which order has not been stayed. 
 7. Mutual
Termination. This Agreement may be terminated by mutual agreement in writing among the Company and CAC. 
 8.
Termination. 
 (a) No Party may exercise any of its respective termination rights as set forth in Section 5, or
Section 6 hereof, as applicable, if such Party is in material breach of this Agreement and is not obligated to terminate by any of its duties as a title 11 debtor. 

(b) Upon the termination of this Agreement pursuant to Section 5, Section 6, Section 7, or hereof, all
Parties shall be released from their commitments, undertakings, and agreements under or related to this Agreement, and there shall be no liability or obligation on the part of any Party; provided, however, that if a Party (or Parties)
terminate(s) this Agreement due to a breach by another Party (or Parties), the non-breaching Party (or Parties) may enforce this Agreement against the breaching Party (or Parties) based on such breach. 

(c) Notwithstanding Section 8(b), but subject to Section 15 hereof, in no event shall any termination of this
Agreement relieve a Party from (i) liability for its breach or non-performance of its obligations hereunder prior to the Termination Date and (ii) obligations under this Agreement which by their terms expressly survive a Termination Date;
provided, however, that, notwithstanding anything to the contrary contained herein, any Termination Event (including any automatic termination) may be waived in accordance with the procedures established by Section 11
hereof, in which case such Termination Event so waived shall be deemed not to have occurred, and this Agreement consequently shall be deemed to continue in full force and effect, and the rights and obligations of the Parties shall be restored,
subject to any modification set forth in such waiver. 
 9. Effectiveness. The obligations of the Company under this Agreement
are effective as of the date hereof and will cease to be effective automatically on the date (the “Voting Deadline Date”) that is ten (10) days prior to the commencement date of the confirmation hearing in the Chapter 11
Cases, unless, prior to the Voting Deadline Date, each of the CEC Requisite Vote, the CAC Requisite Vote (each as defined in the Merger Agreement) and each other vote of shareholders of CEC or CAC required by the Merger Agreement or applicable Law
(collectively, the “Shareholder Votes”) shall have been validly obtained; provided that the Voting Deadline Date may be extended or waived by CEOC in writing in its sole discretion. 

  
 16 

 10. Cooperation. The Company shall use commercially reasonable efforts to provide
to counsel for CAC (a) drafts of all material motions, applications (other than applications seeking to retain professional advisors), and other documents the Company intends to file with the Bankruptcy Court, no less than three
(3) Business Days before the date when the Company intends to file any such document unless such advance notice is impossible or impracticable under the circumstances. 

11. Amendments. No amendment, modification, waiver, or other supplement of the terms of this Agreement shall be valid unless
such amendment, modification, waiver, or other supplement is in writing and has been signed by each of the Company and CAC. 
 12.
Entire Agreement. This Agreement, together with the CEOC Plan and the other Definitive Documents that are executed by the Parties, constitute the entire agreement of the Parties with respect to the subject matter of this Agreement, and
supersedes all other prior negotiations, agreements and understandings, whether written or oral, among the Parties with respect to the subject matter of this Agreement. 

13. No Waiver and Preservation of Rights. If the transactions contemplated herein are not consummated, or following the
occurrence of the termination of this Agreement with respect to all Parties, nothing herein (or in any of the Definitive Documentation, including the CEOC Plan) shall be construed as a waiver by any Party of any or all of such Party’s rights,
remedies, claims, and defenses and the Parties expressly reserve any and all of their respective rights, remedies, claims and defenses. 

14. Counterparts. This Agreement may be executed in one or more counterparts, each of which, when so executed, shall constitute
the same instrument and the counterparts may be delivered by facsimile transmission or by electronic mail in portable document format (.pdf). 

15. Fiduciary Duties. Notwithstanding anything in this Agreement, nothing in this Agreement shall require the Company or any of
the directors, officers, shareholders or members of the Company, each in its capacity as a director, officer, shareholder or member of the Company, to take any action, or to refrain from taking any action, to the extent inconsistent with its or
their fiduciary obligations under applicable law (as reasonably determined by them in good faith after consultation with legal counsel). 

16. CIE Transaction; CAC Liquidity Transactions. 

(a) Nothing in this Agreement restricts the ability of CAC to effect the sale or other transfer of all or any material portion of the CIE
business or assets pursuant to a transaction with an unaffiliated third party (a “CIE Transaction”); provided that, in the event that a CIE Transaction is consummated prior to the Effective Date, the net cash proceeds of such
CIE Transaction (net of taxes, transaction expenses and any working capital adjustment, holdback, indemnity payment or escrow for the benefit of the purchaser; provided that the release of any cash escrow prior to the Effective Date will
constitute proceeds subject to this Section 16(a)) that are payable to or received by Caesars Growth Partners, LLC (“CGP”) or any of its subsidiaries or affiliates (which for the avoidance of doubt shall not include minority
shareholders or employees or members of the management of CAC, CGP or CIE) shall not be distributed (by 

  
 17 

 
dividend or other distribution) or otherwise paid to any Person prior to the Effective Date and shall be held separate in a separate account and not comingled with any other cash held by CAC,
CGP, CIE or any of their respective subsidiaries or affiliates, other than (i) a distribution (by dividend or otherwise) of such proceeds to CAC or any Subsidiary of CAC in an amount not exceeding CAC’s pro rata share of such
proceeds (but subject to the separate account and commingling requirements above), (ii) a distribution to the members of CGP in an amount to pay taxes in respect of such sale and (iii) a distribution or advance to CEC or any of its
subsidiaries for the payment of professional fees in an aggregate amount not to exceed $200 million and for the support or advancement of a proposed casino project in South Korea not to exceed $100 million (it being understood and agreed that
nothing in this Section 16 will be deemed to constitute CEOC consent to, or preclude CEOC from seeking to enjoin, any CIE Transaction or any distribution, allocation, payment or other use of proceeds therefrom or taking any other action
with respect to any CIE Transaction that is necessary to protect the rights of the estates of CEOC and its related chapter 11 debtor subsidiaries). Subject to the terms of the Confidentiality Agreement entered into as of June 10, 2016 by
Millco Advisors, L.P. for the benefit of CAC and the CEOC Joinder thereto, CAC will keep the Company updated, on a weekly basis, of the status of and any material developments with respect to potential CIE Transactions and will provide the Company
written notice at least 30 days prior to the consummation of any CIE Transaction and during such period will provide the Company such information with respect to such CIE Transaction (including copies of transaction documents) as it may reasonably
request. 
 (b) Nothing in this Agreement restricts the ability of CAC to facilitate, seek, solicit, negotiate, execute agreements to or
consummate transactions to sell or receive or otherwise transfer assets or pledge (or receive the pledge of) any such assets to facilitate a financing transaction, in either case as may be necessary for CEC to maintain adequate liquidity as may be
agreed upon by CAC; provided that CAC will use commercially reasonable efforts to provide the Company reasonable prior notice of any such agreement or transaction. 

(c) Nothing in the Agreement restricts any rights the Company may have to investigate or challenge any such transaction or take any other such
action that the Company believes may be necessary to protect the rights of the estates of CEOC and its related chapter 11 debtor Subsidiaries. 

17. Headings. The headings of the Sections, paragraphs, and subsections of this Agreement are inserted for convenience only and
shall not affect the interpretation hereof. 
 18. Relationship Among Parties. Notwithstanding anything herein to the
contrary, the duties and obligations of the Parties under this Agreement shall be several, not joint. No Party shall, as a result of its entering into and performing its obligations under this Agreement, be deemed to be part of a “group”
(as that term is used in section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder) with the other Party. 

19. Specific Performance; Remedies Cumulative. Each Party acknowledges that because money damages would be an insufficient
remedy for any failure of any Party to perform its obligations in accordance with their specific terms or any other breach of this Agreement by any Party, each non-breaching Party shall be entitled to specific performance and injunctive or

  
 18 

 
other equitable relief as a remedy of any such breach, including, without limitation, an order of any court of competent jurisdiction requiring any Party to comply promptly with, or to prevent
breaches of, any of its obligations hereunder (including to take such actions as are necessary to consummate the Restructuring as contemplated by this Agreement and the CEOC Plan), without the necessity of proving the inadequacy of money damages as
an exclusive remedy. Each of the Parties hereby waives (a) any defense that a remedy at law is adequate and (b) any requirement to post bond or other security in connection with actions instituted for injunctive relief, specific
performance, or other equitable remedies. Nothing herein waives entitlements to money damages or any other remedies available at law or equity. None of the Parties shall oppose the granting of an injunction, specific performance and other equitable
relief when available pursuant to the terms of this Agreement on the basis that the other Parties have an adequate remedy at law. 
 20.
Governing Law and Dispute Resolution. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to such state’s choice of law provisions which would require the
application of the law of any other jurisdiction. The United States District Court for the Northern District of Illinois shall have exclusive jurisdiction of all matters arising out of or in connection with this Agreement; provided,
however, that nothing in this Agreement shall be deemed a consent or submission by CAC to the jurisdiction of the Bankruptcy Court for any purpose, including with respect to any disputes under or relating to this Agreement, and the Company
and CAC reserve all rights in this regard. 
 21. Notices. All notices, requests, documents delivered, and other
communications hereunder must be in writing and will be deemed to have been duly given only if delivered personally, by facsimile transmission, mailed (first class postage prepaid) or by electronic mail (“e-mail”) to the Parties at
the following addresses, facsimile numbers, or e-mail addresses: 
 If to the Company: 

Caesars Entertainment Operating Company, Inc. 

One Caesars Palace Drive 
 Las
Vegas, NV 89109 
 Attn: General Counsel 

With a copy to (which shall not constitute notice): 

Kirkland & Ellis LLP 

601 Lexington Ave 
 New York, NY
10022 

	 	Attn:	Paul M. Basta, P.C. 

	 	    	Nicole L. Greenblatt, P.C. 

 Facsimile: (212) 446 4900 

	 	E-mail Address:	paul.basta@kirkland.com  

	 	    	ngreenblatt@kirkland.com 

  
 19 

 -and- 

Kirkland & Ellis LLP 

300 North LaSalle 

	 	Chicago,	IL 60654 

	 	Attn:	David R. Seligman, P.C. 

	 	    	Joseph M. Graham 

 Facsimile: (312) 862-2200 

	 	E-mail Address:	dseligman@kirkland.com 

	 	    	joe.graham@kirkland.com 

 If to CAC: 

Caesars Acquisition Company 
 One
Caesars Palace Drive 
 Las Vegas, NV 89109 

Attn: General Counsel 
 With a
copy to (which shall not constitute notice): 
 Latham & Watkins LLP 

885 Third Avenue 
 New York, NY
10022-4834 

	 	Attn:	Christopher Harris 

	 	    	Mark Broude 

	 	    	Raymond Y. Lin 

	 	    	Daniel D. Adams 

 Telephone: (212) 373-3000 

Facsimile (212) 373-2053 

	 	E-mail Address:	christopher.harris@lw.com 

	 	    	mark.broude@lw.com 

	 	    	raymond.lin@lw.com 

	 	    	daniel.adams@lw.com 

 22. Third-Party Beneficiaries. The terms and provisions of
this Agreement are intended solely for the benefit of the Parties hereto and their respective successors and permitted assigns, and it is not the intention of the Parties to confer third-party beneficiary rights upon any other Person. 

23. Settlement Discussions. This Agreement is part of a proposed settlement of matters that could otherwise be the subject of
litigation among the Parties hereto. Nothing herein shall be deemed an admission of any kind. Pursuant to Federal Rule of Evidence 408 and any applicable state rules of evidence, this Agreement and all negotiations relating thereto shall not be
admissible into evidence in any proceeding other than to prove the existence of this Agreement or in a proceeding to enforce the terms of this Agreement. 

  
 20 

 24. Good-Faith Cooperation; Further Assurances. The Parties shall cooperate with
each other in good faith in respect of matters concerning the implementation and consummation of the Restructuring. From time to time, as and when requested by any Party, any other Party will execute and deliver, or cause to be executed and
delivered, all such documents and instruments and will take, or cause to be taken, all such further or other actions as such requesting Party may reasonably deem necessary or desirable to evidence and effectuate the Restructuring and actions
contemplated by this Agreement and the CEOC Plan. 
 25. Publicity. The Company shall submit drafts to CAC of any press
releases and public documents that constitute disclosure of the existence or terms of this Agreement or any amendment to the terms of this Agreement at least three (3) Business Days prior to making any such disclosure, and shall afford them a
reasonable opportunity under the circumstances to comment on such documents and disclosures and shall incorporate any such reasonable comments in good faith. 

[Signature page follows.] 

  
 21 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.

  

			
	CAESARS ENTERTAINMENT OPERATING COMPANY, INC., on behalf of itself and each of the debtors in the Chapter 11 Cases
		
	By:	 	/S/ RANDALL EISENBERG
		 	Name: Randall Eisenberg
		 	Title: Chief Restructuring Officer
	
	CAESARS ACQUISITION COMPANY, on behalf of itself and each of its direct and indirect Subsidiaries
		
	By:	 	/S/ MITCH GARBER
	Name:	 	Mitch Garber
	Title:	 	Chief Executive Officer

  
 [Signature page to
CEOC and CAC First Amended and Restated RSA] 

 Exhibit AExhibit
10.30 

   

 AMENDMENT
NO 2 

   

 THIS
AMENDMENT No. 2 (the “Amendment”), is entered into with effect from the 30th day of June 2016 (the
“Effective Date”) by and among SKYVIEW CAPITAL, LLC, a Delaware limited liability company, with its headquarters
at Suite 810-N, 2000 Avenue of the Stars, Los Angeles, CA 90067 (“Skyview”); MIMIO, LLC, a Delaware limited
liability company (“Mimio” or the “Company”); MIM HOLDINGS, LLC, a Delaware limited liability company
(“Holdings”), with its principal place of business at 10951 West Pico, Los Angeles, CA 90064; and BOXLIGHT CORPORATION,
a Nevada corporation (“BOXL”). This Amendment is intended to amend the Membership Interest Purchase Agreement dated
as of September 28, 2015 (the “Agreement”), as amended on November 3, 2015 (“Amendment 1”), among Skyview,
the Company and Holdings. The Company, Holdings, and BOXL are sometimes herein collectively referred to as the “Credit Parties”
and Skyview and the Credit Parties are sometimes herein collectively referred to as the “Parties”. 

   

 Recitals 

   

 WHEREAS,
pursuant to the Agreement and Amendment 1, Skyview sold to Holdings, all of the Membership Interests in the Company, subject to
the terms and conditions set forth in the Agreement, and 

   

 WHEREAS,
pursuant to Amendment 1, Skyview accepted as payment of the $3,425,000 purchase price for the Membership Interests in the Company,
a 6% $3,425,000 secured promissory note of Holdings and in the form of Exhibit A annexed to Amendment 1 (the “Purchase Note”),
and 

   

 WHEREAS,
effective as of May 1, 2016, BOXL purchased from an assignee of VC2 Capital Partners LLC, 100% of the membership interest in Holdings
and agreed to assume responsibility to pay the Purchase Note, when due; and 

   

 WHEREAS,
the Credit Parties intends to consummate (a) on or before August 3, 2016, a senior secured debt financing facility (the “Senior
Debt Facility”) from an asset based lender (the “Senior Lender”), and (b) an initial public offering of BOXL
common stock (the “BOXL IPO”); and 

   

 WHEREAS,
the Company has an outstanding payment obligation owed to an Affiliate of Skyview, NewNet Communication Technologies, LLC (“NewNet”),
in the sum of $235,507.50, which said sum BOXL has assumed, acknowledges is due and owing without objection, and agrees form part
of the obligations payable under the Purchase Note. 

   

 WHEREAS,
the Parties now wish to amend the Agreement and Amendment 1 (collectively, the “Skyview Purchase Agreements”) to modify
the Purchase Price and the Purchase Note, all upon the terms set out below. 

   

 NOW,
THEREFORE, in consideration of the mutual covenants, terms and conditions set forth herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 

   

 Terms
and Conditions 

   

	 1. 	 GENERAL 

   

 All
terms with capital letters and not otherwise defined in this Amendment shall have the same meanings given to them in the Skyview
Purchase Agreements. 

   

	 2. 	 AMENDMENTS 

   

	   	 2.1. 	 Purchase
    Price and Purchase Note 

   

 Section
2.02 of the Agreement shall be deleted and replaced with the following provisions: 

   

 Section
2.02. Purchase Price. The aggregate purchase price for the Membership Interests, including (a) sums required to discharge
a debt owed by the Company to NewNet in the amount of $235,507.50, and (b) unpaid and accrued interest due as of 30th
June 2016 in the sum of $34,250, shall be Three Million Six Hundred Ninety Four Thousand Seven Hundred and Fifty Seven Dollars
and Fifty Cents ($3,694,757.50) (the “Purchase Price”), payable in full by delivery to Skyview of (a) $34.250 in cash
to be paid to Skyview on or before July 5, 2016, and (b) $3,660,507.50 on the Effective Date in the form of a 6% $3,660,507.50
secured promissory note of Holdings described below and in the form of Exhibit A annexed to this Amendment 2 (the “Purchase
Note”).  

   

    	 		Page
                                         1 of 3

CONFIDENTIAL AND RESTRICTED

     

    

   

 The
Purchase Note, inter alia:  

   

	   	 (i) 	 shall
    bear interest at the rate of 6% per annum which shall accrue from the Closing Date and shall be payable quarterly in arrears;
     
	   	   	   
	   	 (ii) 	 an
    aggregate of $2,200,000 principal amount of the Purchase Note (the “First Installment Payment”) shall be due and
    payable on or before the earlier of (A) August 3, 2016, or (B) out of the net proceeds of the Senior Debt Facility provided
    by a Senior Lender; and 
	   	   	   
	   	 (iii) 	 the
    remaining balance of the Purchase Note shall be due and payable on the earlier to occur of November 3, 2016, or the occurrence
    and continuation of an “Event of Default,” as described therein (the “Maturity Date”);  
	   	   	   
	   	 (iv) 	 the
    Company shall procure that the Purchase Note is unconditionally guaranteed by VERT CAPITAL CORP., a Delaware corporation
    (“Vert”), VC2 PARTNERS, LLC, a Delaware limited liability company and BOXL (“VC2 and, together
    with Vert and BOXL, individually and collectively, the “Guarantors”) pursuant to the Amended and Restated Guaranty
    Agreement in the form of Exhibit B annexed hereto and made a part hereof; and 
	   	   	   
	   	 (v) 	 shall
    continue to be secured by a lien on the assets of Mimio pursuant to the Security Agreement in the form of Exhibit C annexed
    to Amendment 1. 

   

 Until
the Purchase Note shall be paid in full, Holdings shall provide Skyview with quarterly unaudited balance sheet and statement of
operations of Mimio and such additional financial reports as Skyview may reasonably require. 

   

	   	 2.2. 	 Subordination
    Agreement 

   

 Upon
consummation of the Senior Debt Facility and simultaneous with the payment of the First Installment Payment, Skyview hereby agrees
to subordinate, in a manner deemed acceptable by the Senior Lender, its lien and security interest on the assets of Mimio and
to enter into an intercreditor and subordination agreement with the Senior Lender in form and substance acceptable to the Senior
Lender (the “Subordination Agreement”). 

   

	   	 2.3
     	 Related
    Party Indebtedness. 

   

 The
increased Purchase Price set forth in this Amendment 2 settles and discharges all related party obligations owed by Mimio to Skyview
or its Affiliates as at the November 2015 Closing Date of the Purchase Agreement. 

   

	 3. 	 RATIFICATION 

   

 Except
as specifically stated in this Amendment No. 2, all of the other terms and conditions of the Purchase Agreement are, in all other
respects, ratified and confirmed and shall continue in full force and effect. 

   

 SIGNATURE
PAGE FOLLOW 

   

    	 		Page
                                         2 of 3

CONFIDENTIAL AND RESTRICTED

     

    

   

 IN
WITNESS WHEREOF, the parties hereto have executed this Amendment No 2 as of the date first above written. 

   

	 SKYVIEW
    CAPITAL, LLC 	   	 MIMIO,
    LLC 
	   	   	   	   	   
	 By: 	   	   	 By: 	   
	   	   	   	   	   
	 Name: 	   	   	 Name: 	   
	   	   	   	   	   
	 Title: 	   	   	 Title: 	   
	   	   	   	   	   
	 Date: 	   	   	 Date: 	   
	   	   	   	   	   
	 MIM
    HOLDINGS, LLC 	   	 BOXLIGHT
    CORPORATION 
	   	   	   	   	   
	 By: 	   	   	 By: 	   
	   	   	   	   	   
	 Name: 	   	   	 Name: 	   
	   	   	   	   	   
	 Title: 	   	   	 Title: 	   
	   	   	   	   	   
	 Date: 	   	   	 Date: 	   

   

    	 		Page
                                         3 of 3

CONFIDENTIAL AND RESTRICTED

     

    

   

 Exhibit
A 

   

 THIS
SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE
UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF
WHICH SHALL BE REASONABLY ACCEPTABLE TO THE BORROWER. 

   

 MIM
HOLDINGS, LLC  

   

 AMENDED
AND RESTATED INSTALLMENT NOTE 

   

 Issuance
Date: as of November 4, 2015 

	 Effective
    Date: June 30, 2016 	 $3,660,507.50 

   

 FOR
VALUE RECEIVED, MIM HOLDINGS, LLC, a Delaware corporation (referred to herein as “Borrower”)
with a business address at 10951 West Pico Boulevard, Suite 102, Los Angeles, CA 90064, hereby unconditionally agrees and promises
to pay to the order of SKYVIEW CAPITAL, LLC, a Delaware limited liability company (“Skyview”), and/or
its successors and assigns (together with Skyview, collectively, the “Holder”), at the office of Skyview at
2000 Avenue of the Stars, Suite 810-N, Los Angeles, CA 90067, or such other place as the Holder may from time to time designate,
in lawful money of the United States of America, the principal sum of THREE MILLION SIX HUNDRED SIXTY THOUSAND FIVE HUNDRED AND
SEVEN DOLLARS AND FIFTY CENTS ($3,660,507.50) (the “Principal Indebtedness”), together with interest on the
outstanding Principal Indebtedness evidenced by this Note at the Interest Rate (as defined below). 

   

 Unless
otherwise expressly defined in this Note, all capitalized terms used herein shall have the same meaning as assigned to them in
the Membership Interest Purchase Agreement, dated as of September 28, 2015, as amended by Amendment No. 1 dated November 3, 2015,
and as further amended by Amendment No. 2, dated as of the Effective Date, among Borrower, Boxlight Corporation, a Nevada corporation,
as successor-in-interest to VC2 Partners LLC (“BOXL”), Mimio, LLC, a Delaware limited liability company (“Mimio”)
and Skyview (collectively, the “Purchase Agreement”). All terms not otherwise defined in this Note shall have
the same meaning as they are defined in Amendment No. 2 to the Purchase Agreement. This Note is the Purchase Note being issued
by the Borrower under the Purchase Agreement. 

   

 1. Principal
Indebtedness of the Note. The unpaid Principal Indebtedness
under this Note, shall be due and payable as follows: 

   

 (a)an
aggregate of $2,200,000 principal amount of the Purchase Note (the “First Installment Payment”) shall be due
and payable on or before the earlier of (i) August 3, 2016, or (ii) out of the new proceeds of the Senior Debt Facility provided
by a Senior Lender (the “First Installment Payment Date”); and 

   

 (b)the
entire unpaid balance of the Principal Indebtedness, together with any accrued and unpaid interest at the Interest Rate hereon,
shall be due and payable on the earlier to occur of (a) the occurrence of an Event of Default (as defined herein),
or (b) November 3, 2016 (the “Final Maturity Date”). 

   

 2.
Interest.Interest shall be payable on the outstanding Principal Indebtedness (“Interest”) at the
rate of six (6%) percent per annum (the “Interest Rate”) and shall be calculated for actual days elapsed on
the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. Interest
shall be payable in cash, quarterly in arrears, commencing 90 days following the Issuance Date. 

   

 3.
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest shall accrue
on the outstanding Principal Indebtedness at the rate per annum equal to twelve (12%) percent (the “Default Interest
Rate”), compounded monthly; provided, however, that in no event shall Borrower be obligated to pay Interest, charges
or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect. 

   

    	 	 	 

     

    

   

 4.
Collateral. All obligations of the Borrower under this Note shall be secured by: (i) a security interest in the assets
of Mimio, LLC and Borrower pursuant to the Security Agreement, and by the unconditional guaranty of BOXL, Vert Capital Corp. and
VC2 Partners LLC (each the “Guarantor”) pursuant to the Guaranty Agreement. 

   

 5.
Subordination of Final Payment under this Note. Upon consummation of the Senior Debt Facility and simultaneous with the
payment of the First Installment Payment, the Holder hereby agrees to subordinate, in a manner deemed acceptable by the Senior
Lender, its right of payment of the unpaid Principal Indebtedness under this Note and its lien and security interest on the assets
of Mimio set forth in the Security Agreement, and to enter into an intercreditor and subordination agreement with the Senior Lender
in form and substance acceptable to the Senior Lender (the “Subordination Agreement”). 

   

 6.Events
of Defaults. The Holder is hereby authorized to declare all or any part of the entire outstanding Principal Indebtedness of
this Note plus all Interest accrued thereon (the “Indebtedness”) immediately due and payable upon the occurrence
of any of the following events (each, an “Event of Default”): 

   

 (a)the
failure of Borrower or any Guarantor to pay the First Installment Payment by or the First Installment Payment Date or the entire
unpaid Principal Indebtedness of this Note and all accrued Interest hereon on the Final Maturity Date, time being of the essence
to all payments due hereunder; or 

   

 (b)
the breach by Borrower or any Guarantor of any material covenant or agreement on its part to be performed under the Purchase
Agreement or any document, instrument or agreement executed and delivered in connection with the transactions contemplated by
the Purchase Agreement, which breach, if capable of being cured, is not cured by Borrower within thirty (30) days after written
notice of such breach describing in reasonable detail the nature of the alleged breach has been given by Holder to Borrower and
the Guarantors; or 

   

 (c)the
filing by Borrower or any Guarantor of any petition for relief under the United States Bankruptcy Code or any similar federal
or state statute, or Borrower’s or Guarantor’s consent to or acquiescence in any such filing by a third party, or
Borrower or Guarantor shall take any corporate action for the purpose of effecting, approving, or consenting to any of the foregoing;
or 

   

 (d)the
making by Borrower or any Guarantor of an application for the appointment of a custodian, trustee or receiver for, or of a general
assignment for the benefit of creditors by, Borrower, or Borrower’s consent to or acquiescence in any such application by
a third party or Borrower shall take any corporate action for the purpose of effecting, approving, or consenting to any of the
foregoing; or 

   

 (e)the
insolvency of Borrower or any Guarantor or the failure of Borrower or any Guarantor generally to pay its debts as such debts become
due; or 

   

    	 	2	 

     

    

   

 (f)the
dissolution, winding up, or termination of the business or cessation of operations of Borrower or Guarantor (including any transaction
or series of related transactions deemed to be a liquidation, dissolution or winding up of Borrower or Guarantor pursuant to the
provisions of Borrower’s charter documents), or Borrower or Guarantor shall take any corporate action for the purpose of
effecting, approving, or consenting to any of the foregoing; or 

   

 (g)the
occurrence of any “Event of Default” under and as defined in any document, instrument or agreement executed and delivered
in connection with the transactions contemplated by the Purchase Agreement that has not been cured within any applicable cure
period or waived by the Holder. 

   

 7.Prepayment.
All payments shall be applied first to Interest and then to Principal Indebtedness. Borrower shall be permitted to prepay any
amounts contemplated under this Note in full or in part prior to the Maturity Date, provided that each partial prepayment shall
be applied to the remaining Installments in the inverse order of maturity. 

   

 8.Governing
Law. The provisions of this Note shall be construed according to the internal substantive laws of the State of California
without regard to conflict of laws principles. If any provision of this Note is in conflict with any statute or rule of law of
the State of California or is otherwise unenforceable for any reason whatsoever, then such provision shall be deemed to be restated
so that it may be enforced to the fullest extent permitted by law, and the remainder of this Note shall remain in full force and
effect. 

   

 9.Acceleration.
It is agreed that time is of the essence in the performance of this Note. Upon the occurrence and during the continuation of an
Event of Default under this Note that is not cured within the applicable cure period, if any, set forth in herein, the Holder
shall have the right and option to declare, without notice, all the remaining indebtedness of unpaid principal and interest evidenced
by this Note immediately due and payable; provided, however, that upon the occurrence of an Event of Default described in Section
6.1(c), 6.1(d), 6.1(e) or 6.1(f), the principal of and accrued interest and all other amounts due and owing under this Note
(if not then due and payable) shall become due and payable immediately, without presentment, demand, notice, protest, declaration
or any other requirement of any kind, all which Borrower expressly waives. 

   

 10.Fees.
Borrower shall pay all of Holder’s reasonable fees and costs incurred in the preparation of this Note and any related documents.
If this Note is placed in the hands of an attorney for collection, by suit or otherwise, or to enforce its collection, Borrower
shall pay all reasonable costs of collection including reasonable attorneys’ fees. 

   

 11.Waivers.
Borrower hereby waives diligence, presentment, demand, protest, 1notice of intent to accelerate, notice of acceleration, and any
other notice of any kind. No delay or omission on the part of the Holder in exercising any right hereunder shall operate as a
waiver of such right or of any other remedy under this Note. A waiver on any one occasion shall not be construed as a bar to or
waiver of any such right or remedy on a future occasion. 

   

    	 	3	 

     

    

   

 12.Transfer.
This Note may be transferred or assigned, in whole or in part, by the Holder at any time subject to the limitations set forth
in the Purchase Agreement and herein. The term “Holder” as used herein shall also include any transferee of
this Note. Each transferee of this Note acknowledges that this Note has not been registered under the Securities Act, and may
be transferred only pursuant to an effective registration under the Securities Act or pursuant to an applicable exemption from
the registration requirements of the Securities Act. 

   

 13.Priority.
All claims of the Holder to full payment of the outstanding Principal Indebtedness and accrued Interest thereon set forth herein
shall be a senior secured obligation of the Borrower and each Guarantor, subordinated only to the rights of the Senior Lender
under the Subordination Agreement. 

   

 14.Prior
Note.This note amends, restates and supersedes in its entirety the Purchase Note executed and delivered in connection
with Amendment No. 1 to the Purchase Agreement (the “Prior Note”). 

   

 15.Obligation
Absolute.The obligation of Borrower to repay the Principal Indebtedness under this Note, together with all Interest accrued
thereon, is absolute and unconditional, and there exists no Borrower right of set off, recoupment, counterclaim or defense of
any nature whatsoever to payment of this Note. 

   

 16.Notices.
All notices, demands and other communications provided for or permitted hereunder shall be made in writing and shall be by registered
or certified first-class mail, return receipt requested, telecopier (with receipt confirmed), courier service or personal delivery
at the addresses specified in Section 8.02 of the Purchase Agreement. 

   

 17.Borrower
acknowledges that Holder’s willingness to issue this Note is based on the facts represented to Holder by Borrower as set
forth in the Purchase Agreement. 

   

 HOLDER
AND BORROWER IRREVOCABLY WAIVE ALL RIGHT TO A TRIAL BY JURY IN ANY PROCEEDING HEREAFTER INSTITUTED BY OR AGAINST HOLDER OR BORROWER
IN RESPECT OF THIS NOTE OR ARISING OUT OF ANY DOCUMENT, INSTRUMENT OR AGREEMENT EVIDENCING, GOVERNING OR SECURING THIS NOTE. BORROWER
ACKNOWLEDGES THAT THE INDEBTEDNESS EVIDENCED BY THIS NOTE IS PART OF A COMMERCIAL TRANSACTION. 

   

 IN
WITNESS WHEREOF, this Note has been executed by Borrower as of the day and year first set forth above. 

   

	   	 MIM
    HOLDINGS, LLC 
	   	   	   
	   	 By: 	   
	   	 Name:
     	 Adam
    E. Levin 
	   	 Title:
     	 Member
    and Manager 

   

    	 	4	 

     

    

   

 Exhibit
B 

   

 GUARANTY
AGREEMENT 

   

 THIS
GUARANTY AGREEMENT (this “Guaranty”), dated as of June 30, 2016, by BOXLIGHT CORPORATION, a Nevada
corporation (“BOXL”), VERT CAPITAL CORP., a Delaware corporation (“Vert”), VC2
PARTNERS, LLC, a Delaware limited liability company (“VC2 and, together with Vert and BOXL, individually and
collectively, the “Guarantor”) in favor of SKYVIEW CAPITAL, LLC, a Delaware limited liability company
( “Skyview”), or its registered assigns. 

   

 PREAMBLE 

   

 A.Reference
is made to that certain amended and restated installment note in $3,660,507.50 principal amount, dated the Effective Date (the
“Purchase Note”) issued by Mim Holdings, LLC, a Delaware limited liability company (the “Borrower”)
in favor of Skyview, as partial payment of the Purchase Price for the Membership Interests set forth in the Membership
Interest Purchase Agreement among VC2, the Borrower, Mimio, LLC and Skyview, dated as of September 28, 2015, as amended by Amendment
No. 1, dated November 3, 2015 and as further amended by Amendment No. 2, dated as of June 30, 2016 (collectively, the “Purchase
Agreement”). Unless otherwise defined herein, all capitalized terms in this Guaranty Agreement shall have the same meaning
as they are defined in the Purchase Agreement. 

   

 B.
An assignee of VC2 has heretofore transferred to BOXL the record and beneficial ownership of one hundred (100%) percent of the
outstanding capital stock of Borrower (the “Borrower Equity”), and Vert is an Affiliate of VC2 and the Borrower
and BOXL, and will derive benefits from the financial accommodations evidenced by the Purchase Agreement and the Purchase Note. 

   

 NOW,
THEREFORE, in consideration of and as a material inducement to Skyview to enter into the Purchase Note, each Guarantor has
agreed to execute this Guaranty in favor of Skyview, and each Guarantor does hereby jointly and severally represent, warrant,
covenant and agree as follows: 

   

 1.
Guaranty of Payment and Performance. Subject at all times to the provisions of Section
1(b) below: 

   

 (a)Each
Guarantor hereby unconditionally and irrevocably guarantees to Skyview, the full and punctual payment when due (whether at stated
maturity, by pre-payment, by acceleration or otherwise), of 100% of the obligations of Borrower under the Purchase Note (the “Guaranteed
Obligation”) 

   

 (b)This
Agreement and the Guaranty provided herein shall remain in full force and effect until all of the Guaranteed Obligations and the
obligations of the Borrower under the Purchase Note have been paid in full. 

   

    	 	5	 

     

    

   

 (c)This
Guaranty is an absolute, unconditional and continuing guaranty of the full and punctual payment and performance of the Guaranteed
Obligations. Should the Borrower default in the payment or performance of any of the Guaranteed Obligations, the obligations of
each Guarantor hereunder with respect to such Guaranteed Obligations in default shall, upon demand by Skyview, become immediately
due and payable to Skyview, without demand or notice of any nature, all of which are expressly waived by each Guarantor. 

   

 (d)
Except as agreed by Skyview, in its sole discretion, Guarantor acknowledges and agrees that no distributions shall be made to
Guarantor by reason of Borrower Equity or otherwise until the Purchase Note is paid by Borrower in full. 

   

 2.
The Guarantor’s Agreement to Pay Enforcement Costs, etc. The Guarantor further agrees to pay to Skyview, on demand,
all costs and expenses (including court costs and legal expenses) incurred or expended by the Skyview in connection with this
Guaranty and the enforcement thereof. 

   

 3.
Waivers by each Guarantor; Skyview’s Freedom to Act. The Guarantor agrees that the Guaranteed Obligations will
be paid and performed strictly in accordance with their respective terms, regardless of any law, regulation or order now or hereafter
in effect in any jurisdiction affecting any of such terms or the rights of the Skyview with respect thereto. The Guarantor waives
promptness, diligence, presentment, demand, protest, notice of acceptance, notice of any Guaranteed Obligations incurred and all
other notices of any kind, all defenses which may be available by virtue of any valuation, stay, moratorium law or other similar
law now or hereafter in effect, any right to require the marshalling of assets of any other person primarily or secondarily liable
with respect to any of the Guaranteed Obligations or obligations of the Borrower, and all suretyship defenses generally. Without
limiting the generality of the foregoing, each Guarantor agrees to the provisions of any instrument evidencing, securing or otherwise
executed in connection with any Guaranteed Obligations and agrees that the obligations of each Guarantor hereunder shall not be
released or discharged, in whole or in part, or otherwise affected by (i) the failure of Skyview to assert any claim or demand
or to enforce any right or remedy against any other entity or other person primarily or secondarily liable with respect to any
of the Guaranteed Obligations; (ii) any extensions, compromise, refinancing, consolidation or renewals of any Guaranteed Obligation;
(iii) any change in the time, place or manner of payment of any of the Guaranteed Obligations or any rescissions, waivers, compromise,
refinancing, consolidation or other amendments or modifications of any of the terms or provisions of the agreements evidencing,
securing or otherwise executed in connection with any of the Guaranteed Obligations, (iv) the addition, substitution or release
of any entity or other person primarily or secondarily liable for any Guaranteed Obligation; or (v) any other act or omission
which might in any manner or to any extent vary the risk of each Guarantor or otherwise operate as a release or discharge of either
Guarantor, all of which may be done without notice to either Guarantor. 

   

 4.
Unenforceability of Obligations Against Borrower. If for any reason the Borrower has no legal existence or is under
no legal obligation to discharge any of the Guaranteed Obligations, or if any of the Guaranteed Obligations have become irrecoverable
from Borrower by reason of Borrower’s insolvency, bankruptcy or reorganization or by other operation of law or for any other
reason, this Guaranty shall nevertheless be binding on each Guarantor to the same extent as if each Guarantor at all times had
been the principal obligor on all such Guaranteed Obligations. In the event that acceleration of the time for payment of any of
the Guaranteed Obligations is stayed upon the insolvency, bankruptcy or reorganization of Borrower, or for any other reason, all
such amounts otherwise subject to acceleration under the terms of the agreements evidencing, securing or otherwise executed in
connection with any Guaranteed Obligation shall be immediately due and payable by each Guarantor. 

   

    	 	6	 

     

    

   

 5.
Subrogation; Subordination.  

   

 5.1.Waiver
of Rights. Until the final payment and performance in full of all of the Guaranteed Obligations, each Guarantor shall
not exercise and hereby waives any rights against the Borrower arising as a result of payment by each Guarantor hereunder, by
way of subrogation, reimbursement, restitution, contribution or otherwise, and will not prove any claim in competition with Skyview
in respect of any payment hereunder in any bankruptcy, insolvency or reorganization case or proceedings of any nature; and each
Guarantor will not claim any setoff, recoupment or counterclaim against Borrower in respect of any liability of either Guarantor
to Borrower. 

   

 5.2.Subordination.
The payment of any amounts due with respect to any indebtedness of the Borrower for money borrowed or credit received now
or hereafter owed to each Guarantor is hereby subordinated to the prior payment in full of all of the obligations of Borrower
to Skyview. The Guarantor agrees that each Guarantor will not demand, sue for or otherwise attempt to collect any such indebtedness
of the Borrower to each Guarantor until all of the Guaranteed Obligations shall have been paid in full. If, notwithstanding the
foregoing sentence, each Guarantor shall collect, enforce or receive any amounts in respect of such indebtedness while any Guaranteed
Obligations are still outstanding, such amounts shall be collected, enforced and received by each Guarantor as trustee for Skyview
and be paid over to Skyview on account of the Guaranteed Obligations without affecting in any manner the liability of either Guarantor
under the other provisions of this Guaranty. 

   

 6.
Further Assurances. Each Guarantor agree that it will from time to time, at the reasonable request of Skyview, do all
such things and execute all such documents as Skyview may consider necessary or desirable to give full effect to this Guaranty
and to perfect and preserve the rights and powers of Skyview. 

   

 7.
Termination; Upon the indefeasible payment and performance of the obligations of Borrower to Skyview under the Purchase
Note, this Agreement shall terminate. 

   

 8.
Successors and Assigns. This Guaranty shall be binding upon each Guarantor, his successors and assigns, and shall inure
to the benefit of Skyview and its successors, transferees and assigns. The Guarantor may not assign any of his obligations hereunder. 

   

 9.
Amendments and Waivers. No amendment or waiver of any provision of this Guaranty nor consent to any departure by either
Guarantor therefrom shall be effective unless the same shall be in writing and signed by each Guarantor and Skyview. No failure
on the part of Skyview to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall
any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other
right. 

   

    	 	7	 

     

    

   

 10.
Notices. All notices and other communications called for hereunder shall be made in the manner set forth in the Pledge
and Security Agreement of Skyview and Guarantor of even date herewith between. 

   

 11.
Governing Law; Consent to Jurisdiction. THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF CALIFORNIA. Each Guarantor agrees that any suit for the enforcement of this Guaranty may be brought in the courts
of Los Angeles County, Los Angeles, California or any federal court sitting therein and consents to the nonexclusive jurisdiction
of such court and to service of process in any such suit being made upon each Guarantor by mail at the address specified by reference
in Section 12. Each Guarantor hereby waives any objection that he may now or hereafter have to the venue of any such suit or any
such court or that such suit was brought in an inconvenient court. 

   

 12.
Waiver of Jury Trial. EACH GUARANTOR HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES HIS RIGHTS TO A JURY TRIAL
WITH RESPECT TO ANY LITIGATION, ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS GUARANTY, ANY RIGHTS OR OBLIGATIONS
HEREUNDER OR THEREUNDER OR THE PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS OR ANY COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS
(WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY. 

   

 13.
Miscellaneous. This Guaranty constitutes the entire agreement of each Guarantor with respect to the matters set forth
herein. The rights and remedies herein provided are cumulative and not exclusive of any remedies provided by law or any other
agreement of Borrower to Skyview. The invalidity or unenforceability of any one or more sections of this Guaranty shall not affect
the validity or enforceability of its remaining provisions. Captions are for the ease of reference only and shall not affect the
meaning of the relevant provisions. The meanings of all defined terms used in this Guaranty shall be equally applicable to the
singular and plural forms of the terms defined. 

   

 [Remainder
of page intentionally left blank; signature page follows] 

   

    	 	8	 

     

    

   

 IN
WITNESS WHEREOF, each Guarantor has caused this Guaranty to be executed and delivered as of the date first above written. 

   

	   	 BOXLIGHT
    CORPORATION 
	   	   	   
	   	 By:
     	   
	   	 Name:
     	 Mark
    Elliott 
	   	 Title:
     	 Chief
    Executive Officer 
	   	   	   
	   	 VERT
    CAPITAL CORP. 
	   	   	   
	   	 By:
     	   
	   	 Name:
     	 Adam
    E. Levin 
	   	 Title:
     	 Chief
    Executive Officer 
	   	   	   
	   	 VC2
    PARTNERS, LLC 
	   	   	   
	   	 By: 	   
	   	 Name:
     	 Adam
    E. Levin 
	   	 Title:
     	 Chief
    Executive Officer 

   

    	 	9	 

     

    

   

 EXHIBIT
A 

   

 PURCHASE
NOTE 

   

    	 	10	 

     

    

   

 EXHIBIT
B 

   

 Amended
and Restated Guaranty Agreement 

   

    	 	11

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