SEC Contract Filing

Filing Date: 2020-03-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.38
<SEQUENCE>7
<FILENAME>scapp-2019psuagreement.htm
<DESCRIPTION>EXHIBIT 10.38
<TEXT>
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<div><a name="sFA8DF9D8461F70B69F65A7147FAF523E"></a></div><div><div style="line-height:138%;padding-bottom:13px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.38</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">RESTRICTED STOCK UNIT AWARD AGREEMENT <br>(PERFORMANCE-BASED)</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">Twin River Worldwide Holdings, Inc.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">2015 Stock Incentive Plan</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">This Award Agreement (this &#8220;</font><font style="font-family:Arial;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:Arial;font-size:12pt;">&#8221;) is made as of April 2, 2019 (the &#8220;</font><font style="font-family:Arial;font-size:12pt;text-decoration:underline;">Grant Date</font><font style="font-family:Arial;font-size:12pt;">&#8221;) between Twin River Worldwide Holdings, Inc. (the &#8220;</font><font style="font-family:Arial;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:Arial;font-size:12pt;">&#8221;), and Stephen H. Capp (&#8220;</font><font style="font-family:Arial;font-size:12pt;text-decoration:underline;">Participant</font><font style="font-family:Arial;font-size:12pt;">&#8221;), pursuant to the terms of the Twin River Worldwide Holdings, Inc. 2015 Stock Incentive Plan (the &#8220;</font><font style="font-family:Arial;font-size:12pt;text-decoration:underline;">Plan</font><font style="font-family:Arial;font-size:12pt;">&#8221;). Any capitalized term used herein but not defined herein shall have the meaning set forth in the Plan. </font></div><div style="line-height:120%;text-align:justify;text-indent:33px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">&#160;</font></div><div style="line-height:138%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:Arial;font-size:12pt;font-weight:bold;padding-right:96px;">Section 1.</font><font style="font-family:Arial;font-size:12pt;font-weight:bold;text-decoration:underline;">Grant</font><font style="font-family:Arial;font-size:12pt;font-weight:bold;">.</font><font style="font-family:Arial;font-size:12pt;">&#32;&#32;The Company has granted to Participant, subject to the terms and conditions hereinafter set forth and in the Plan, a Restricted Stock Unit Award consisting of up to 39,152 restricted stock units, which shall become earned contingent upon the satisfaction of the performance, vesting and other conditions hereinafter set forth (the &#8220;</font><font style="font-family:Arial;font-size:12pt;text-decoration:underline;">Performance Stock Units</font><font style="font-family:Arial;font-size:12pt;">&#8221;). Each Performance Stock Unit represents the right to receive one share of Common Stock, subject to the terms and conditions set forth in this Agreement and the Plan. </font></div><div style="line-height:138%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">Section 2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:12pt;font-weight:bold;text-decoration:underline;">Earning of Performance Stock Units</font><font style="font-family:Arial;font-size:12pt;font-weight:bold;">.</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:138%;font-size:12pt;padding-left:48px;"><font style="font-family:Arial;font-size:12pt;">(a)</font></div></td><td style="vertical-align:top;padding-left:64px;"><div style="line-height:138%;text-align:justify;font-size:12pt;text-indent:-64px;"><font style="font-family:Arial;font-size:12pt;text-decoration:underline;">Generally</font><font style="font-family:Arial;font-size:12pt;">. Except as otherwise provided herein,</font><font style="font-family:Arial;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:Arial;font-size:12pt;">if Participant remains in continuous Service with the Company or a Subsidiary on January 1, 2020, 1/3 of the Performance Stock Units will become eligible to be earned with respect to the one-year performance period commencing January 1, 2019 and ending December 31, 2019, if Participant remains in continuous Service with the Company or a Subsidiary on January 1, 2021,</font><font style="font-family:Arial;font-size:12pt;"><sup style="vertical