Amendment to Employment Agreement Between John M. Boushy and Harrah's Operating Company, Inc. (August 2, 2000)

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between John M. Boushy and Harrah's Operating Company, Inc. It clarifies how vesting of TARSAP II stock awards will be handled during any salary continuation period after Boushy's separation. The next possible vesting of TARSAP II may be granted at the discretion of the CEO and Human Resources Committee, and any unvested shares at the end of the salary continuation period will be forfeited. If a change in control occurs during this period, Boushy is only entitled to the next potential vesting installment not otherwise earned.

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EX-10.2 3 a2029570zex-10_2.txt EX-10.2 Exhibit 10.2 Amendment to Employment Agreement With John M. Boushy August 2, 2000 This Amendment amends the Employment Agreement dated April 1, 1998, between the undersigned Executive and Harrah's Operating Company, Inc. In consideration of the mutual agreements herein, it is agreed as follows: 1. The parties understand and agree that the provisions in Section 6 of the Employment Agreement which relate to TARSAP vesting during Salary Continuation were intended to only apply to TARSAP I. 2. The parties agree that the following provision applies regarding vesting of TARSAP II during a period of Salary Continuation: The next potential vesting installment of TARSAP II for Executive after the Separation Date if the installment is earned will vest for Executive (all, part or none) at the CEO's and HRC's discretion. If a Change in Control as defined in Executive's Severance Agreement occurs during Salary Continuation, Executive will only be entitled to the next potential vesting installment of TARSAP II not otherwise earned. Unvested shares at the end of Salary Continuation are forfeited. IN WITNESS WHEREOF, the parties have executed this Amendment as of this 2nd day of August, 2000. Executive: Harrah's Operating Company, Inc. /s/ JOHN M. BOUSHY By: /s/ MARILYN G. WINN - --------------------------- ------------------------------ Title: Senior Vice President HR