SEC Contract Filing

Filing Date: 2016-05-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101-cec2012pipamend.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s988C71BE22B4DFF07B47CF2223DF5D57"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.1</font></div></div><div><br></div><div style="line-height:144%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">AMENDMENT NO. 3</font></div><div style="line-height:144%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">TO THE</font></div><div style="line-height:144%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CAESARS ENTERTAINMENT CORPORATION</font></div><div style="line-height:144%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2012 PERFORMANCE INCENTIVE PLAN</font></div><div style="line-height:144%;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Amendment No. 3 (&#8220; </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Amendment</font><font style="font-family:inherit;font-size:10pt;">&#8221;) to the Caesars Entertainment Corporation 2012 Performance Incentive Plan (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Plan</font><font style="font-family:inherit;font-size:10pt;">&#8221;), is adopted by Caesars Entertainment Corporation, a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:10pt;">&#8221;). Capitalized terms used in this Amendment and not otherwise defined shall have the same meanings assigned to them in the Plan.</font></div><div style="line-height:144%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">RECITALS</font></div><div style="line-height:144%;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A. Section 4.2 of the Plan provides that the maximum number of shares of Common Stock that may be delivered pursuant to awards granted under the Plan is the sum of (1) 14,867,018 shares of Common Stock, plus (2) the number of shares of Common Stock subject to stock options granted under the Company&#8217;s Management Equity Incentive Plan (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">MEIP</font><font style="font-family:inherit;font-size:10pt;">&#8221;) and outstanding on the Stockholder Approval Date (as such term is used in the Plan) which expired, or for any reason were cancelled or terminated, after the Stockholder Approval Date without being exercised, plus (3) the number of shares of Common Stock that, as of the Stockholder Approval Date, remained available for issuance pursuant to the MEIP, other than shares of Common Stock subject to options that were outstanding as of the Stockholder Approval Date.</font></div><div style="line-height:144%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">B. Section 8.6 of the Plan provides that the Board of Directors of the Company (the &#8220; </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Board</font><font style="font-family:inherit;font-size:10pt;">&#32;&#8221;) may amend or modify the Plan at any time, provided , however , that to the extent necessary to comply with any applicable law, the Company must obtain stockholder approval of any Plan amendment as required.</font></div><div style="line-height:144%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C. The Board believes it to be in the best interests of the Company and its stockholders to amend the Plan to increase the maximum number of shares of Common Stock that may be delivered pursuant to awards granted under the Plan, pursuant to Section 4.2 of the Plan, subject to approval by the stockholders of the Company.</font></div><div style="line-height:144%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">AMENDMENT</font></div><div style="line-height:144%;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1. Subject to approval by the stockholders of the Company, Section 4.2 of the Plan is hereby amended by striking &#8220;14,867,018&#8221; and replacing it with &#8220;22,367,018&#8221;.</font></div><div style="line-height:144%;text-align:justify;text-ind