This Employee Benefits Plan Agreement involves
Title: THE HARRAH'S ENTERTAINMENT, INC. SAVINGS AND RETIREMENT PLAN
Industry: Casinos and Gaming Sector: Services
TWELFTH AMENDMENT TO
2001 RESTATEMENT OF
THE HARRAH’S ENTERTAINMENT, INC.
SAVINGS AND RETIREMENT PLAN
WHEREAS, Harrah’s Entertainment, Inc., a Delaware corporation (the “Company”), has established and maintains the Harrah’s Entertainment, Inc. Savings and Retirement Plan (the “Plan”) for the benefit of its eligible employees and the eligible employees of certain participating companies; and
WHEREAS, Section 14.2 of the Plan provides that the Board or the HRC has the authority to amend the Plan; and
WHEREAS, amendment of the Plan is desirable to suspend the Fixed Matching Contributions under the Plan.
NOW, THEREFORE, BE IT RESOLVED that, this Twelfth Amendment to the 2001 Restatement of the Plan is adopted and shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions of this Amendment.
BE IT FURTHER RESOLVED that, pursuant to the power and authority reserved by Section 14.2 of the Plan, the Plan is hereby amended as follows, effective as of February 9, 2009:
1. By substituting for Section 3.4(a)(i) of the Plan the following:
“(i) Fixed Matching Contribution . (A) For Plan Years ending on or before December 31, 2008, the Employers shall contribute, on behalf of each Participant who satisfies Section 2.1(b) and makes 401(k) Contributions and/or After Tax Contributions during the Plan Year, an amount equal to 50% of the first 6% of Compensation contributed under Section 3.3 either as 401(k) Contributions and/or After Tax Contributions.
(B) For purposes of the Plan Year ending on December 31, 2009, the Employers shall contribute, on behalf of each Participant who satisfies Section 2.1(b) and makes 401(k) Contributions and/or After Tax Contributions during the Plan Year from Compensation otherwise pa