Amendment to Cash Award Agreement under Caesars Entertainment Corporation 2017 Performance Incentive Plan
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Summary
This amendment is between Caesars Entertainment Corporation and a participant in its 2017 Performance Incentive Plan. It changes the vesting schedule for a previously granted cash award, stating that the award will now vest on February 1, 2020, if the participant remains employed through that date. The award will also fully vest earlier if the participant is terminated without cause, resigns for good reason, or in the event of death or disability. All other terms of the original agreement remain in effect.
EX-10.112 6 ex10112amendmenttoform.htm EXHIBIT 10.112 Exhibit
Exhibit 10.112
CAESARS ENTERTAINMENT CORPORATION
2017 PERFORMANCE INCENTIVE PLAN
FORM OF AMENDMENT TO CASH AWARD AGREEMENT
THIS AMENDMENT TO CASH AWARD AGREEMENT (the “Amendment”) is made by and between Caesars Entertainment Corporation, a Delaware corporation (the “Corporation”), and ______________________ (the “Participant”), on the date set forth on the final page of this Amendment. Any capitalized terms not otherwise defined in this Amendment shall have the definitions set forth in the Plan (defined below).
WHEREAS, the Corporation has adopted the Caesars Entertainment Corporation 2017 Performance Incentive Plan (the “Plan”), pursuant to which a variety of types of awards, including cash awards, may be granted;
WHEREAS, the Administrator has granted to Participant an award pursuant to the Plan in the form of the Cash Award Agreement dated as of December , 2018 (the “Agreement”); and
WHEREAS, the Administrator and Participant desire to amend the Agreement as set forth herein.
NOW, THEREFORE, the parties hereto, for themselves, their successors and assigns, hereby agree as follows:
1.Amendment. The term “Vesting Schedule” on the final page of the Agreement is hereby amended and restated in its entirety to read as follows: “The Cash Award shall vest on February 1, 2020, subject to Participant’s continued employment or service with the Company or one of its Subsidiaries through such vesting date; provided, that the unvested Cash Award shall automatically vest in full upon a Participant’s termination employment or service with the Company or one of its Subsidiaries resulting from (i) a termination by the Company without Cause, (ii) a resignation by Participant for Good Reason, or (iii) a Participant’s death or Disability.”
2.Miscellaneous. The provisions of Article 6 of the Agreement are incorporated herein by reference and apply mutatis mutandis to this Amendment.
IN WITNESS WHEREOF, the Corporation and Participant have executed this Agreement as set forth below.
CAESARS ENTERTAINMENT CORPORATION
By: _____________________________________
Name:
Title:
Date: ____________________________________
Agreed to and Accepted by:
_________________________
Name: