• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

LVS paying US$1.26mln bonus to retain general counsel

Jun 26, 2019 Newsdesk Latest News, Top of the deck, World  


LVS paying US$1.26mln bonus to retain general counsel

United States-based casino operator Las Vegas Sands Corp says it will pay a one-time retention bonus of US$1.26 million to its executive vice president Lawrence Jacobs. Mr Jacobs is also the group’s general counsel and company secretary, and is described by the group as being responsible for the leadership and oversight of the group’s legal affairs around the world.

The information was disclosed in a recent filing to the U.S. Securities and Exchange Commission, which included an agreement to amend certain terms of Mr Jacobs’ employment contract.

Mr Jacobs has been Las Vegas Sands’ executive vice president and general counsel since September 8, 2016 and has been the firm’s secretary since November 2016. Las Vegas Sands is the parent of Macau casino operator Sands China Ltd.

Las Vegas Sands said the reason for a second amendment of the employment contract was because of Mr Jacobs’ “desire to pursue other opportunities and interests” and the company’s wish to retain the executive beyond July 31, 2019.

The company said the two parties have agreed to the amendment to provide for “an orderly transition” of Mr Jacobs’ duties and to allow the executive to depart earlier than anticipated in the original agreement. The parties had agreed in 2018 to a first amendment to the employment contract, although without the company paying a retention bonus.

Under the second amendment now announced, Mr Jacobs’ employment can be terminated by Las Vegas Sands on two weeks’ notice after August 1, 2019, and by Mr Jacobs himself on two weeks’ notice after January 1, 2020.

Upon termination of employment, Mr Jacobs will be entitled to a pro rata payment of the portion of his 2019 bonus incentive for the period between August 1 and December 31, 2019, and accelerated vesting of the remaining tranches of his unvested stock, according to the filing.


  • tweet
Related articles
  • LVS gets 1-year extension for Marina Bay Sands 2.0 start
    LVS gets 1-year extension for Marina...

    Mar 24, 2023  

  • Sands China woos Singaporeans as Air Macau opens route
    Sands China woos Singaporeans as Air...

    Mar 23, 2023  

More news
  • Pagcor chairman keynote speech at SiGMA Asia
    Pagcor chairman keynote speech at SiGMA...

    Mar 28, 2023  

  • 3-month eVisa plan to boost Vietnam tourism: report
    3-month eVisa plan to boost Vietnam...

    Mar 28, 2023  


Latest News

Pagcor chairman keynote speech at SiGMA Asia

Pagcor chairman keynote speech at SiGMA Asia

Mar 28, 2023  

Alejandro Tengco (pictured), chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), is to give the keynote speech for the opening of the SiGMA Asia conference for the...
Read More
3-month eVisa plan to boost Vietnam tourism: report

3-month eVisa plan to boost Vietnam tourism: report

Mar 28, 2023  

Kangwon Land slot brand Manila office eyes SE Asia sales

Kangwon Land slot brand Manila office eyes SE Asia sales

Mar 28, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us