Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
On October 13, 2022, SciPlay Corporation (the “Company”) announced that James Bombassei, age 59, will succeed Daniel O’Quinn as Chief Financial
Officer and Secretary of the Company, effective December 1, 2022 (the “Transition”). Mr. O’Quinn will remain with the Company and will serve as Vice President, Finance.
Mr. Bombassei has served as Senior Vice President of Investor Relations at Light & Wonder, Inc. (“Light & Wonder”) since December 2020. Prior
to joining Light & Wonder, Mr. Bombassei held multiple senior positions during his over 20-year tenure at global media and entertainment company Paramount Global, including Senior Vice President, Treasurer & Investor Relations. Mr.
Bombassei began his career in Ernst & Young, LLP’s Audit practice and is a former CPA in the State of New York. Mr. Bombassei holds an MBA in Finance from New York University and a bachelor’s degree in Business and Economics from Lehigh
Employment Agreement with Mr. Bombassei
In connection with the Transition, the Company will enter into an employment agreement with Mr. Bombassei (the “Employment Agreement”), with a term
beginning on December 1, 2022 and ending on November 30, 2025 (the “Term”), subject to automatic one-year extensions, and will provide that Mr. Bombassei will receive: (1) an annual base salary of $450,000; (2) an annual target bonus
opportunity of 75% of his base salary; and (3) eligibility for annual equity awards with an aggregate grant date fair value of approximately 75% of his base salary.
The Employment Agreement will provide that, in the event of Mr. Bombassei’s termination of employment by the Company without “cause” or due to the
expiration of the Term or by Mr. Bombassei for “good reason”, Mr. Bombassei will generally receive: (i) a pro rata bonus for the year of termination; (ii) cash severance equal to his base salary; and (iii) up to 12 months of continued COBRA
coverage at the Company’s expense. The Employment Agreement will provide that Mr. Bombassei will be eligible to participate in the Company’s Senior Executive Incentive Plan beginning in 2023 and contain, among other things, a “best net cutback”
provision in the event any payments or benefits to Mr. Bombassei would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended, and restrictive covenants regarding non-competition, non-solicitation,
non-disparagement and confidentiality.
In connection with entering into the Employment Agreement, within ten days after the Transition, Mr. Bombassei will receive a grant of Company
restricted stock units with a grant date value of $500,000, vesting in three substantially equal annual installments on each of December 1, 2023, 2024 and 2025, which are intended in part to replace certain Light & Wonder equity that Mr.
Bombassei will forfeit in connection with his appointment.
Item 7.01. Regulation FD Disclosure.
On October 13, 2022, the Company issued a press release announcing that Mr. Bombassei will succeed Mr. O’Quinn as Chief Financial Officer and
Secretary of the Company, effective December 1, 2022. A copy of this 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.