Amendment to Employment Agreement (this Amendment), dated as of December 30, 2008, by and between Scientific Games Corporation, a Delaware corporation (the Company), and DeWayne E. Laird (Executive).
WHEREAS, Executive has been employed pursuant to an Employment Agreement dated as of November 1, 2002 by and between the Company and Executive (the 2002 Agreement), as amended by a letter agreement dated August 2, 2006 (the August 2006 Amendment) and as further amended by a letter agreement dated October 7, 2008 (the October 2008 Amendment and, collectively with the 2002 Agreement and the August 2006 Amendment, the Employment Agreement); and
WHEREAS, the Company and Executive desire to amend the Employment Agreement as set forth herein to bring the Employment Agreement into compliance with Section 409A of the Internal Revenue Code of 1986 and the regulations and Treasury guidance thereunder; and
WHEREAS, the amendments contemplated hereby are intended to bring the timing of, and certain procedural aspects with respect to, certain payments under the Employment Agreement into compliance with Section 409A but not to otherwise affect Executives right to such payments.
NOW THEREFORE, in consideration of the premises and the mutual benefits to be derived herefrom and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be executed on its behalf as of the date first above written.
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SCIENTIFIC GAMES CORPORATION |
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By: |
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/s/ Ira H. Raphaelson |
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Name: |
Ira H. Raphaelson |
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Title: |
Vice President, General Counsel and Secretary |
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/s/ DeWayne E. Laird |
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DeWayne E. Laird |
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