SCIENTIFIC GAMES CORPORATION (NASDAQ:SGMS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Executive Vice President and Chief Legal Officer and Departure of Executive Vice President and Chief Legal Officer
On September 4, 2018, Scientific Games Corporation (the “Company”) announced that James Sottile will succeed David W. Smail as Executive Vice President and Chief Legal Officer, effective as of September 4, 2018.
Mr. Sottile joins the Company from Jones Day, where he was a partner in its New York office.
Separation and Consultancy Agreement with Mr. Smail
On September 3, 2018, the Company entered into a separation and consultancy agreement (the “Agreement”) with Mr. Smail relating to the terms and conditions of his termination of employment with, and transition to his new role as a consultant to, the Company.
The Agreement provides that Mr. Smail will cease to serve as Executive Vice President and Chief Legal Officer of the Company, effective as of September 3, 2018 (the “Separation Date”), and immediately thereafter will become a consultant to the Company. In consideration for providing consulting services from the Separation Date through December 31, 2018, Mr. Smail will remain eligible to receive his 2018 bonus, payable at the time bonuses are normally paid. Upon the expiration of his term of employment, Mr. Smail will also be entitled to receive any applicable payments provided for under the terms of the previously disclosed employment agreement entered into between Mr. Smail and the Company.
Item 7.01.Regulation FD Disclosure.
On September 4, 2018, the Company issued a press release announcing that Mr. Sottile will succeed Mr. Smail as Executive Vice President and Chief Legal Officer. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information contained in this Item 7.01 as well as in Exhibit 99.1 is furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed to be incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits
SCIENTIFIC GAMES CORP ExhibitEX-99.1 2 ex99_1.htm PRESS RELEASE Exhibit 99.1 Scientific Games Announces James Sottile as New Executive Vice President and Chief Legal Officer LAS VEGAS – September 4,…To view the full exhibit click here
About SCIENTIFIC GAMES CORPORATION (NASDAQ:SGMS)
Scientific Games Corporation is a developer of technology-based products and services, and associated content for the gaming, lottery and interactive gaming industries. The Company operates through three segments: Gaming, Lottery and Interactive. The Company’s portfolio includes gaming machines and game content, casino management systems, table game products and services, instant and draw-based lottery games, server-based gaming and lottery systems, sports betting technology, lottery content and services, loyalty and rewards programs, interactive gaming and social casino solutions. Its Gaming segment’s activities include supplying gaming machines, video lottery terminals (VLTs), conversion kits, automatic card shufflers. Its Lottery segment’s activities include designing, printing and selling instant lottery games. The Company’s Interactive business segment includes social (non-wagering) gaming and interactive real-money gaming (RMG).
