SEC Contract Filing

Filing Date: 2015-03-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.101
<SEQUENCE>5
<FILENAME>a2014q4cecex10101-amended2.htm
<DESCRIPTION>EXHIBIT 10.101
<TEXT>
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 <title>2014 Q4 CEC Ex 10.101 - Amended 2012 Options - Time Based Options</title>
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<a name="s0FECE83A147B6549229AA883ADE247BD"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.101</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><br><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CAESARS ENTERTAINMENT CORPORATION <br>2012 PERFORMANCE INCENTIVE PLAN</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">AMENDED AND RESTATED NONQUALIFIED OPTION AWARD AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This is an </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">AMENDMENT AND RESTATEMENT</font><font style="font-family:inherit;font-size:10pt;">&#32;of that certain award agreement (as amended and restated, the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;) made by and between Caesars Entertainment Corporation, a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Corporation</font><font style="font-family:inherit;font-size:10pt;">&#8221;), and Gary Loveman (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Participant</font><font style="font-family:inherit;font-size:10pt;">&#8221;) on April 16, 2012 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Original Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;), relating to an award of Options under the Caesars Entertainment Corporation 2012 Performance Incentive Plan (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Plan</font><font style="font-family:inherit;font-size:10pt;">&#8221;). Any capitalized terms not otherwise defined in this Agreement shall have the definitions set forth in the Plan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:10pt;">, the Corporation and Participant entered into a new employment agreement, dated as of December 21, 2014 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">New Employment Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:10pt;">, pursuant to Section 5.3 of the New Employment Agreement, the Corporation has agreed that it shall amend certain agreements governing equity-based compensation to Participant, including the Original Agreement, to, amongst other matters, modify certain vesting and expiration provisions to reflect the revised terms of the New Employment Agreement;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:10pt;">, Section 8(l) of the Original Agreement requires that any change, modification or waiver of the Original Agreement be made in writing and signed by Participant and the Corporation;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:10pt;">, the Administrator has determined that it is in the best interests of the Corporation and its stockholders to effectuate the amendments to the terms of the Original Agreement provided for in the New Employment Agreement and set forth herein; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOW, THEREFORE</font><font style="font-family:inherit;font-size:10pt;">, the parties hereto, for themselves, their successors and assigns, hereby agree as follows: </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:10pt;font-weight:bold;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Grant of Option.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(a)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underli