SEC Contract Filing

Filing Date: 2016-06-22

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d215570dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>EXECUTION VERSION </I></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1px;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; margin-left:1%; font-size:10pt; font-family:Times New Roman"><B>THIS AGREEMENT IS NOT, AND SHALL NOT BE DEEMED, A SOLICITATION FOR CONSENTS TO ANY PLAN PURSUANT TO SECTIONS 1125 AND 1126
OF THE BANKRUPTCY CODE. EACH UCC MEMBER&#146;S VOTE ON THE PLANS SHALL NOT BE SOLICITED UNTIL SUCH MEMBER HAS RECEIVED THE DISCLOSURE STATEMENTS AND RELATED BALLOT(S), AS APPROVED BY THE BANKRUPTCY COURT. </B></P></div>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RESTRUCTURING SUPPORT AND SETTLEMENT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Restructuring Support and Settlement Agreement dated as of June&nbsp;22, 2016 (as amended, supplemented, or otherwise modified from time
to time, this &#147;<U>Agreement</U>&#148;), among: (i)&nbsp;subject to <U>Section&nbsp;14</U> hereof, Caesars Entertainment Operating Company, Inc. (&#147;<U>CEOC</U>&#148;), on behalf of itself and each of the debtors in the Chapter 11 Cases
(collectively, the &#147;<U>Company</U>&#148;), (ii)&nbsp;Caesars Entertainment Corporation (&#147;<U>CEC</U>,&#148; and together with the Company, the &#147;<U>Caesars&nbsp;Parties</U>&#148;), and (iii)&nbsp;the statutory unsecured
claimholders&#146; committee appointed in the Chapter 11 Cases (as defined below) (the &#147;<U>UCC</U>&#148; and together with the Caesars Parties, each referred to as a &#147;<U>Party</U>&#148; and collectively referred to as the
&#147;<U>Parties</U>&#148;). All capitalized terms not defined herein shall have the meanings ascribed to them in the CEOC Plan (as defined below). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, before the date hereof, the Parties and their representatives engaged in arm&#146;s-length, good-faith negotiations regarding
a potential restructuring of the Company&#146;s funded indebtedness and other obligations pursuant to the proposed CEOC Plan (a copy of which is annexed hereto as <U>Exhibit A</U>) resulting in the terms and conditions of this Agreement and the
terms and conditions set forth in the CEOC Plan (the &#147;<U>Restructuring</U>&#148;) (which proposed plan is expressly incorporated by reference herein and made a part of this Agreement as if fully set forth herein (as such proposed plan may be
modified in accordance with <U>Section&nbsp;12</U> hereof)); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Restructuring will be implemented through the Plans; and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Restructuring settles the known and unknown potential and actual claims against the Company and its non-debtor
affiliates on the terms and conditions set forth in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE,</B> in consideration of the covenants contained
herein, and for other valuable consideration, the receipt and sufficiency of which each of the Parties hereby acknowledges, each Party, intending to be legally bound hereby, agrees as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1. <U>Definitions; Rules of Construction</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Definitions</U>. The following terms shall have the following definitions: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>105 Injunction Order</U>&#148; means an order of the Bankruptcy Court or any other court of competent jurisdiction temporarily
enjoining all or some of the Caesars Cases. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate</U>&#148; means, with respect to any Person, any other Person (whether now or
hereinafter in existence) which directly or indirectly controls, or is under common control with, or is controlled by, such Person. As used in this definition, &#147;control&#148; (including, with its correlative meanings, &#147;controlled by&#148;
and &#147;under common control with&#148;) shall mean, with respect to any Person, the possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or
other ownership interests, by contract or otherwise or through intermediaries) of such Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agreement</U>&#148; has the
meaning set forth in the preamble hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-famil