Exhibit 10(96)
DEFERRAL AGREEMENT
TARSAP DEFERRAL PLAN
This Agreement is dated June 29, 2001 (insert date) and relates to my deferral
of the receipt of TARSAP shares under the Harrah's Entertainment, Inc. TARSAP
Deferral Plan.
1. Election of Deferral for Annual Vesting
I elect to defer receipt of 10,000 shares (insert number) of my maximum
annual TARSAP shares that will vest on January 1, 2002. This deferral
election constitutes my consent to the immediate cancellation of this
elected number of TARSAP shares and the issuance of rights to an equal
amount of Xxxxxx'x Entertainment, Inc. common stock in lieu of these
shares (Deferred Shares). This deferral is in addition to any previous
deferral election that is applicable to this vesting.
2. Election of Receipt Date
I elect to receive my Deferred Shares commencing on the date of my
termination of employment or on the following date (insert date if
applicable), January 1, 2006, whichever date comes first (the
Commencement Date).
The shares will then be issued as follows (check either A, B or C):
X (A) All Deferred Shares will be issued as a lump sum of shares
on the Commencement Date.
_____(B) All Deferred Shares will be issued as a lump sum on the
first anniversary of the Commencement Date (i.e., one year
after the Commencement Date).
_____(C) All Deferred Shares will be issued over ____ years (insert
2 to 10) in approximately equal annual installments of
shares, with the first installment issued on the first
anniversary of the Commencement Date (i.e. one year after
the Commencement Date) and each installment thereafter will
be issued on successive anniversaries of the Commencement
Date.
I understand that my elections are irrevocable, subject to the provisions of the
TARSAP Deferral Plan. I further understand my Deferred Shares are subject to
forfeiture in the same manner that TARSAP shares are subject to forfeiture. I
agree to be bound by the terms of the TARSAP Program, the TARSAP Deferral Plan
and the Company's 1990 Restricted Stock Plan, as amended from time to time,
which are incorporated herein by reference. This Agreement will be governed by
Nevada law.
Participant
Signature: /s/ XXXXXXX X. XXXXXXXX
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Printed Name: Xxxxxxx X. Xxxxxxxx
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Address: 000 Xxxxx Xxxxx Xxxxx, XX, XX
Harrah's Entertainment, Inc.
By:______________________
Title:___________________
