Exhibit 10.5
WMS Gaming Inc.
800 S. Northpoint Boulevard
Waukegan, Illinois 60085
| Mr. Larry J. Pacey | December 7, 2012 | |
| c/o WMS Gaming Inc. | ||
| 800 South Northpoint Boulevard | ||
| Waukegan, IL 60085 |
Dear Larry:
Reference is made to the Employment Agreement made between you and WMS Gaming Inc., dated September 7, 2005, and amended July 1, 2008 (the “Employment Agreement”). The Employment Agreement is hereby amended as follows, effective November 1, 2012:
1. Section 3 of the Employment Agreement, as previously amended, is hereby further amended by adding the following sentence as the third sentence thereof:
“Such payments will commence within 60 days after Employee’s termination of employment; provided that Employee has signed and delivered to the Corporation a complete release of claims against the Corporation and such release of claims has become irrevocable; and, provided further, that if the period during which Employee may execute the release of claims spans two calendar years, payments will commence in the second calendar year regardless of when Employee executes and submits the release of claims.”
2. Except as expressly modified herein, the terms and conditions of the Employment Agreement shall remain in full force and effect.
Please indicate your agreement to the foregoing by signing this letter in the place provided below.
Yours very truly, | ||
| WMS GAMING INC. | ||
| By: | /s/ Brian R. Gamache | |
| Brian R. Gamache | ||
| Accepted and Agreed to: |
/s/ Larry J. Pacey |
| Larry J. Pacey 12/10/2012 |