Exhibit 10.30
Amendment to Employment
Agreement
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 Executive’s 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:
1.
Section 7(c) of the
Employment Agreement is hereby amended to delete clause
(vi) thereof in its entirety and replace such language by the
notation “(vi) [RESERVED]”.
2.
Section 7(c)(viii) of
the Employment Agreement is hereby amended to (i) delete the
words commencing with “Executive shall receive” and
ending with “additional” and replacing such words with
“the Company shall reimburse Executive on an after-tax basis
for the costs he incurs in obtaining benefits that are reasonably
comparable to the” and (ii) delete the words between the
last two parentheticals of such section.
3.
Section 7(d) of the
Employment Agreement is hereby amended to delete clause
(vii) thereof in its entirety and replace such language by the
notation “(vii) [RESERVED]”.
4.
Section 7(g) of the
Employment Agreement is hereby amended by inserting the following
at the end thereof:
“The
Company shall provide Executive with the proposed form of release
referred to in the immediately preceding sentence no l
