# EDGAR Filing Document

**Accession Number:** 0000789570
**File Stem:** 0000789570-25-000041
**Filing Date:** 2025-9
**Character Count:** 186013
**Document Hash:** 9dbff8bbd06d4fdefaba1326cdbcf4ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000789570-25-000041.hdr.sgml**: 20250919

**ACCESSION NUMBER**: 0000789570-25-000041

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20250916

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250919

**DATE AS OF CHANGE**: 20250919

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MGM Resorts International
- **CENTRAL INDEX KEY:** 0000789570
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOTELS & MOTELS [7011]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 880215232
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10362
- **FILM NUMBER:** 251327501

**BUSINESS ADDRESS:**
- **STREET 1:** 3600 LAS VEGAS BLVD S
- **CITY:** LAS VEGAS
- **STATE:** NV
- **ZIP:** 89109
- **BUSINESS PHONE:** 702-693-7120

**MAIL ADDRESS:**
- **STREET 1:** 3600 LAS VEGAS BLVD S.
- **CITY:** LAS VEGAS
- **STATE:** NV
- **ZIP:** 89109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MGM MIRAGE
- **DATE OF NAME CHANGE:** 20000823

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MGM GRAND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GRAND NAME CO
- **DATE OF NAME CHANGE:** 19870713

?xml version='1.0' encoding='ASCII'? mgm-20250916

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549** 

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): September 16, 2025**

**MGM Resorts International**

**(Exact name of Registrant as Specified in its Charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-10362** | **88-0215232** |
| **(State or Other Jurisdiction**<br>**of Incorporation)** | **(Commission File Number)** | **(IRS Employer**<br>**Identification No.)** |

---

**3600 Las Vegas Boulevard South, Las Vegas, Nevada 89109**

**(Address of principal executive offices – Zip Code)**

**Registrant's Telephone Number, Including Area Code: (702) 693-7120**

**Not Applicable**

**(Former Name or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | | |
|:---|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol(s)** | **Name of each exchange on which registered** | **Name of each exchange on which registered** |
| **Common Stock (Par Value $0.01)** | **MGM** | **New York Stock Exchange** | **NYSE** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CRF § 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CRF § 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** 

**(e) *Executive Officer Employment Agreements***

*Jonathan Halkyard Employment Agreement*

On September 16, 2025, MGM Resorts International (the "Company") entered into an employment agreement with Jonathan S. Halkyard, Chief Financial Officer and Treasurer of the Company (the "Halkyard Employment Agreement"), effective as of October 1, 2025. The Halkyard Employment Agreement provides for a term until September 30, 2029 and a minimum base salary of $1,250,000 per year.

The Halkyard Employment Agreement also provides for an annual target bonus equal to 150% of Mr. Halkyard's base salary, and certain other benefits and perquisites, which are discussed in detail in the Halkyard Employment Agreement. Any amounts paid in excess of 150% of Mr. Halkyard's target bonus will be paid in fully vested deferred restricted stock units payable in three equal installments over the 3-year period following the grant date (and subject to acceleration in the event Mr. Halkyard's employment with the Company is terminated for any reason) ("DRSUs").

In the event of a termination of Mr. Halkyard's employment as the result of his death or a termination by the Company due to disability, the Company will pay Mr. Halkyard one year of salary payable at regular payroll intervals (less any payments received from an employer-paid short term disability policy) and any earned but unpaid bonus.

The Halkyard Employment Agreement also provides that, subject to the discretion of the Committee of the Board, Mr. Halkyard will be eligible for annual equity grants in 2025, 2026, 2027 and 2028 with an aggregated value targeted at $3,125,000 each year, which are expected to be provided 50% in the form of performance share units and 50% in the form of restricted stock units.

In the event of a termination by the Company for no cause or by Mr. Halkyard for good cause prior to the end of the term or, if Mr. Halkyard continues employment as an at-will employee during the 12-month period after the end of the term, Mr. Halkyard will receive (i) an amount equal to his annual base salary plus his target bonus amount, payable in 12 monthly installments; (ii) any earned but unpaid bonus due to him; and (iii) a payment equal to 1.5 times the cost of COBRA for a coverage period of 12 months, payable in 12 monthly installments. Any such severance payments will be subject to applicable taxes and Mr. Halkyard's execution and non-revocation of a general release of claims.

The Halkyard Employment Agreement also contains a non-compete covenant generally prohibiting Mr. Halkyard from providing services to a competitor or soliciting employees or business contacts for 12 months following his termination of employment or for 12 months following the term of the Halkyard Employment Agreement. In addition, the Halkyard Employment Agreement mandates that Mr. Halkyard's confidentiality obligations continue after his termination of employment.

The foregoing description is not a complete description of the Halkyard Employment Agreement and is qualified in its entirety by reference to the full text of the Halkyard Employment Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference in this Item 5.02.

------

*Gary Fritz Employment Agreement*

On September 16, 2025, a subsidiary of the Company entered into an employment agreement with Gary Fritz, Chief Commercial Officer and President, MGM Digital (the "Fritz Employment Agreement"), effective as of October 1, 2025. The Fritz Employment Agreement provides for a term until September 30, 2028, and a minimum base salary of $1,500,000 per year.

The Fritz Employment Agreement also provides for an annual target bonus equal to 175% of Mr. Fritz's base salary, and certain other benefits and perquisites, which are discussed in detail in the Fritz Employment Agreement. Any amounts paid in excess of 150% of Mr. Fritz's target bonus will be paid in DRSUs.

In the event of a termination of Mr. Fritz's employment as the result of his death or a termination by the Company due to disability, the Company will pay Mr. Fritz one year of salary in a lump sum and any earned but unpaid bonus. In addition, in the case of disability, he shall receive a payment equal to 1.5 times the cost of COBRA for a coverage period of 12 months, payable in a lump sum.

The Fritz Employment Agreement also provides that, subject to the discretion of the Committee of the Board, Mr. Fritz will be eligible for annual equity grants in 2025, 2026 and 2027 with an aggregate value targeted at of $4,500,000 each year, which are expected to be provided 50% in the form of performance share units and 50% in the form of restricted stock units.

The Fritz Employment Agreement also provides that Mr. Fritz will be granted an award on October 1, 2025, of 25,000 restricted stock units vesting on the one-year anniversary of the grant date. In addition, the agreement provides Mr. Fritz with the following two potential incentive opportunities, paid 50% as a lump sum cash amount and 50% in restricted stock units, (1) $2,000, 0000 for achievement of a specified trailing twelve month Adjusted EBITDA at BetMGM, LLC and (2) $500,000 for successfully launching a defined digital offering on a MGM property.

In the event of a termination by the Company for no cause or by Mr. Fritz for good cause prior to the end of the term or, if Mr. Fritz continues employment as an at-will employee during the 12-month period after the end of the term, Mr. Fritz will receive (i) an amount equal to his annual base salary plus his target bonus amount, payable in 12 monthly installments; (ii) any earned but unpaid bonus due to him; and (iii) a payment equal to 1.5 times the cost of COBRA for a coverage period of 12 months, payable in 12 monthly installments. Any such severance payments will be subject to applicable taxes and Mr. Fritz's execution and non-revocation of a general release of claims.

The Fritz Employment Agreement also contains a non-compete covenant generally prohibiting Mr. Fritz from providing services to a competitor or soliciting employees or business contacts for 12 months following his termination of employment or for 12 months following the term of the Fritz Employment Agreement. In addition, the Fritz Employment Agreement mandates that Mr. Fritz's confidentiality obligations continue even after his termination of employment.

The foregoing description is not a complete description of the Fritz Employment Agreement and is qualified in its entirety by reference to the full text of the Fritz Employment Agreement, a copy of which is attached hereto as Exhibit 10.2, and the equity award form, a copy of which is attached as Exhibit 10.3, each of which is incorporated by reference in this Item 5.02.

**Item 9.01 Financial Statements and Exhibits.**

 (a) Not applicable.

 (b) Not applicable.

 (c) Not applicable.

 (d) Exhibits:

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---

| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Description</u>** |
| 10.1 | <u>[Employment Agreement, effective as of October 1, 2025, by and between the Company and Jonathan Halkyard.](exhibit101-91925.htm)</u> |
| 10.2 | <u>[Employment Agreement, effective as of October 1, 2025, by and between the Company and Gary Fritz.](exhibit102-91925.htm)</u> |
| 10.3 | <u>[Form of RSU Agreement (Fritz).](exhibit103-91925.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | **MGM Resorts International** | **MGM Resorts International** |
| Date: September 19, 2025 | By: | /s/ Jessica Cunningham |
|  |  | Name: Jessica Cunningham |
|  |  | Title: Senior Vice President, Legal Counsel and Assistant Secretary |

---

## Exhibit 10.1

**Exhibit 10.1**

**EMPLOYMENT AGREEMENT**

This Employment Agreement (this "<u>Agreement</u>") is entered into as of September 16, 2025, with an effective date of **October 1, 2025**, by and between **MGM Resorts International** ("<u>Employer</u>"), and **Jonathan Halkyard** ("<u>Employee</u>").

1.<u>Employmen</u>t. Employer hereby employs Employee, and Employee hereby accepts employment by Employer as **Chief Financial Officer** to perform such executive, managerial or administrative duties as Employer may specify from time to time during the Specified Term (as defined in Section 22). If during the Specified Term Employee becomes an employee of another employer affiliated with the "<u>Company</u>" (defined below in Section 22) Employee's employment with the Employer shall terminate as of the date Employee commences such other employment, and pursuant to Section 19 Employee's new Company-affiliated employer shall assume all rights and obligations of Employer under this Agreement.

2.<u>Term</u>. The term of Employee's employment under this Agreement commences on **October 1, 2025** and it terminates on **September 30, 2029** (the "<u>Specified Term</u>"), unless a new written employment agreement is executed by the parties. If Employee remains employed after the expiration of the Specified Term, and the parties do not execute a new employment agreement, then Employee shall be employed **at-will** and none of the provisions of the Agreement shall apply to Employee's continued employment at-will, except Sections 8, 10.5, 11 and 12, and Employer shall have the right to terminate Employee's employment with or without cause or notice, for any reason or no reason, and (unless otherwise provided herein) without any payment of severance or compensation.

3.<u>Compensation</u>. During the Specified Term, Employer shall pay Employee a minimum annual salary of **$1,250,000** payable in arrears at such frequencies and times as Employer pays its other employees. Employee is also eligible to receive employee and fringe benefits that are no less favorable than those provided to employees having the rank of the second highest senior executive of the Company. Employer will also reimburse Employee for all reasonable business and travel expenses Employee incurs in performing Employee's duties under this Agreement, payable in accordance with Employer's customary practices and policies, as Employer may modify and amend them from time to time. Employee's performance may be reviewed periodically. Employee is eligible for consideration for a discretionary raise, bonuses (whether in cash or equity or equity-based awards), promotion, and/or participation in discretionary benefit plans; provided, however, whether and to what extent Employee will be granted any of the above will be determined by Employer in its sole and absolute discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1In addition, Employee is eligible for consideration for a discretionary annual bonus (the "<u>Bonus</u>"). With respect to the 2025 fiscal year, employee will be eligible for a Bonus pursuant to the terms of the Bonus Letter, dated as of March 11, 2025 (the "<u>Bonus Letter</u>"); provided, however that Paragraph 1.A. of the Bonus Letter will be revised to provide that Employee shall receive a pro-rated bonus for the 2025 fiscal year based on the effective salary and target bonus percentage during the year. Employee will be eligible for a Bonus pursuant to the terms of this Agreement, with a target bonus amount equal to **150%** of Employee's base salary (the "<u>Target Bonus</u>"). The terms and conditions of the Bonus may be changed from time to time. Except as otherwise provided in Sections 10.2, 10.3 or 10.6, any Bonus under this Section 3.1 shall be paid at such time as the Company pays bonuses to the Company's other senior executives with

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respect to each fiscal year, but not earlier than January 1 or later than March 15 of the year immediately following the end of each fiscal year; provided that, to the extent any such Bonus is in excess of **150%** the Target Bonus (such excess portion, the "<u>Incremental Bonus Amount</u>"), the Incremental Bonus Amount shall be payable 100% in the form of fully vested restricted stock units (the "<u>Deferred RSUs</u>"). The Deferred RSUs will be granted as of the Bonus Determination Date pursuant to the terms of the Company's 2022 Omnibus Incentive Plan and the Company's Form of Deferred Restricted Stock Unit Agreement for Bonus Payouts (the "<u>Award Agreement</u>"). The Deferred RSUs shall be payable annually in three equal installments over the three-year period following the grant date, subject to acceleration in the event of the Employee's termination of employment, in accordance with the specific terms set forth in the Award Agreement. Any such Bonus shall be subject to the Policy on Recovery of Incentive Compensation in Event of Financial Restatement, as may be amended by the Company from time to time in its discretion, and any other clawback policies as may be adopted from time to time, including but not limited to for the purpose of complying with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and regulations thereunder promulgated by the Securities Exchange Commission (the "<u>SEC</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2During the Specified Term, it is anticipated that Employee will be required to travel extensively on behalf of Employer. Such travel, if by air, may be on aircraft provided by Employer (if authorized by the Chief Executive Officer), or if commercial airlines are used, on a first-class basis (or best available basis, if first class is not available).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3Employee shall be eligible for annual equity awards in 2025, 2026, 2027 and 2028 in forms and amounts determined by the Human Capital and Compensation Committee (the "<u>Committee</u>") in its discretion. It is the Committee's present expectation that such annual awards will have an aggregate value targeted at **$3,125,000** and that such annual awards will be provided (i) 50% in the form of restricted stock units of the Company ("<u>RSUs</u>") that are subject to performance-based and service-based vesting conditions and (ii) 50% in the form of RSUs that are subject solely to service-based vesting conditions. These annual awards and any other equity awards granted on or after the Effective Date shall be subject to such terms as the Committee may determine in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4Notwithstanding anything herein to the contrary, (A) with respect to any regular annual incentive awards granted to Employee during the Specified Term under the Omnibus Plan or any successor thereto (but excluding any one-time or special retention awards, as determined by the Compensation Committee), the applicable award agreements for such awards shall include provisions with respect (i) retirement, (ii) death or Disability, (iii) termination by Employer other than by reason of "Employer's Good Cause" and (iv) termination by Employee by reason of "Participant's Good Cause" that shall, with respect to RSUs be no less favorable to Employee than as set forth in the Form of Restricted Stock Units Agreement filed as Exhibit 10.4(31) to the Company's Annual Report on Form 10-K for the year ended December 31, 2024 (the "Form 10-K") and, with respect to Relative Performance Share Units, the Form of Relative Performance Share Unit Agreement filed Exhibit 10.4(32) to Form 10-K and the Form of Performance Share Unit Agreement filed as Exhibit 10.4(33) to the Form 10-K and (B) during the Specified Term, any benefits Employee receives in connection with a Change of Control shall be no less favorable than those benefits provided

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in the Amended and Restated Change of Control Policy For Executive Officers adopted on August 16, 2022 (the "CoC Policy").

4.<u>Extent of Services</u>. Employee agrees that Employee's employment by Employer is full time and exclusive. Employee further agrees to perform Employee's duties in a competent, trustworthy and businesslike manner. Except with respect to the entities and positions noted on <u>Exhibit A</u>, Employee agrees that during the Specified Term, Employee will not render any services of any kind (whether or not for compensation) for any person or entity other than Employer, and that Employee will not engage in any other business activity (whether or not for compensation) that is similar to or conflicts with Employee's duties under this Agreement, without the approval of the Board of Directors of MGM Resorts International or the person or persons designated by the Board of Directors to determine such matters.

5.<u>Policies and Procedures</u>. Employee agrees and acknowledges that Employee is bound by Employer's policies and procedures as they may be modified, amended or adopted by Employer from time to time, including, but not limited to, the Company's Code of Conduct and Conflict of Interest policies. In the event the terms in this Agreement conflict with Employer's policies and procedures, the terms of this Agreement shall take precedence. As Employee is aware, problem gaming and underage gambling can have adverse effects on individuals and the gaming industry as a whole. Employee acknowledges that Employee has read and is familiar with Employer's policies, procedures and manuals and agrees to abide by them. Because these matters are of such importance to Employer, Employee specifically confirms that Employee is familiar with and will comply with Employer's policies of prohibiting underage gaming, supporting programs to treat compulsive gambling, and promoting diversity in all aspects of Employer's business.

6.<u>Licensing Requirements</u>. Employee acknowledges that Employer and its affiliates are engaged in a business in various jurisdictions that are or may be subject to and exists because of privileged licenses issued by governmental authorities in Nevada, Michigan, Mississippi, Maryland, Massachusetts, Ohio, New Jersey, New York, Macau S.A.R., and other jurisdictions in which Employer or its affiliates is engaged in a gaming business or where Employer has applied to (or during the Specified Term may apply to) engage in a gaming business. Employee shall apply for and obtain any license, qualification, clearance or other similar approval which Employer or its affiliates or any regulatory authority which has jurisdiction over Employer or its affiliates requests or requires that Employee obtain.

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7.<u>Failure to Satisfy Licensing Requiremen</u>t. Employer has the right to terminate Employee's employment under Section 10.1 of this Agreement if: (i) Employee fails to satisfy any licensing requirement referred to in Section 6 above; (ii) Employer or any of its subsidiaries is directed to cease business with Employee by any governmental authority referred to in Section 6 above; (iii) Employer determines, in its sole and exclusive judgment, that Employee was, is or might be involved in, or are about to be involved in, any activity, relationship(s) or circumstance which could or does jeopardize Employer's business, reputation or such licenses; or (iv) any of Employer's licenses is threatened to be, or is, denied, curtailed, suspended or revoked as a result of Employee's employment by Employer or as a result of Employee's actions.

8.<u>Restrictive Covenants</u>. Employee acknowledges that, in the course of performing Employee's responsibilities under this Agreement, Employee will form relationships and become acquainted with "<u>Confidential Information</u>" (defined below in Section 22). Employee further acknowledges that such relationships and the Confidential Information are valuable to Employer and the Company, and the restrictions on Employee's future employment contained in this Agreement, if any, are reasonably necessary in order for Employer to remain competitive in Employer's various businesses and to prevent Employee from engaging in unfair competition against Employer after termination of Employee's employment with Employer for any reason.

In consideration of this Agreement and the compensation payable to Employee under this Agreement, and in recognition of Employer's heightened need for protection from abuse of relationships formed or disclosure and misuse of Confidential Information garnered before and during the Specified Term of this Agreement, Employee covenants and agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1<u>Competition</u>. Except as otherwise explicitly provided in Paragraph 10 of this Agreement, during the entire Specified Term and thereafter for the "<u>Restrictive Period</u>" (defined below in Section 22) Employee shall not directly or indirectly be employed by, provide consultation or other services to, engage in, participate in or otherwise be connected in any way with any "<u>Competitor</u>" (defined below in Section 22) in any capacity that is the same, substantially the same or similar to the position or capacity (irrespective of title or department) as that held at any time during Employee's employment with Employer; provided, however, that if Employee remains employed at-will by Employer after expiration of the Specified Term and is thereafter separated by Employer during the Restrictive Period for any reason other than "Employer's Good Cause" (defined below in Section 22), Employee shall not be subject to this Section 8.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2<u>Non-Solicitation</u>. At all times during Employee's employment with the Company and at all times thereafter, Employee shall not use, access, disclose, make known to, or otherwise disseminate for personal gain or for the benefit of a third party (or induce, encourage or assist others in doing any of the foregoing acts) any Company "<u>Trade Secrets</u>" (as defined in Section 22) for any purpose whatsoever. Further, at all times during Employee's employment with the Company, and for 12 months thereafter, Employee will not, without the prior written consent of Company:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)make known to any Competitor and/or any member, manager, officer, director, employee or agent of a Competitor, the "<u>Business Contacts</u>" (defined in Section 22) of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)call on, solicit, induce to leave and/or take away, or attempt to call on, solicit, induce to leave and/or take away, any Business Contacts of the Company; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)approach, solicit, contract with or hire any current Business Contacts of the Company or entice any Business Contact to cease his/her/its relationship with the Company or end his/her employment with the Company, without the prior written consent of Company, in each and every instance, such consent to be within Company's sole and absolute discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3<u>Confidentiality</u>. At all times during Employee's employment with the Company, and at all times thereafter, Employee shall not, without the prior written consent of the Company's Chief Executive Officer or Chief Legal and Administrative Officer (or General Counsel, as applicable) in each and every instance—such consent to be within the Company's sole and absolute discretion—use, disclose or make known to any person, entity or other third party outside of the Company any Confidential Information belonging to the Company or its individual members.

Notwithstanding the foregoing, the provisions of Section 8.3 shall not apply to Confidential Information: (i) that is required to be disclosed by law or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) in any litigation, arbitration, mediation or legislative hearing, with jurisdiction to order Employee to disclose or make accessible any information, provided, however, that Employee provides Company with ten (10) days' advance written notice of such disclosure to enable Company to seek a protective order or other relief to protect the confidentiality of such Confidential Information; (ii) that becomes generally known to the public or within the relevant trade or industry other than due to Employee's or any third party's violation of this Agreement or other obligation of confidentiality; or (iii) that becomes available to Employee on a non-confidential basis from a source that is legally entitled to disclose it to Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4<u>Third Party Information</u>. Employee understands and acknowledges that the Company has received, and in the future will receive, from third parties, their confidential or proprietary information subject to a duty to maintain the confidentiality of such information and to use it only for certain limited purposes. At all times during Employee's employment with the Company, whether pursuant to this Agreement or at-will, and at all times thereafter, Employee shall hold any and all such third party confidential or proprietary information of third parties in the strictest confidence and will not intentionally or negligently disclose it to any person or entity or to use it except as necessary in carrying out Employee's duties and obligations hereunder consistent with the Company's agreement with such third party. Employee shall not be in violation of Employee's obligations hereunder if such third party confidential or proprietary information is already generally known to the public through no wrongful act of Employee or any other party.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5<u>Acknowledgement of Ownership of Confidential Information Property Acquired or Developed During Employment; Non-Transfer</u>. Employee understands, agrees, and hereby confirms that Employee's duties and responsibilities include acquiring Confidential Information and developing Relationships for the benefit of Company and, as applicable, the Company. Employee acknowledges that Confidential Information acquired, obtained, learned, or developed during Employee's employment with Company, including but not limited to, Business Contacts developed during Employee's employment, constitutes the sole and exclusive property of Company, regardless of whether the information qualifies for protection as a Trade Secret.

Employee further understands, agrees, and hereby confirms that during Employee's employment, Employee shall not, at any time or for any reason whatsoever, except upon the express written authorization of the Company, store, transfer, maintain, copy, duplicate or otherwise possess Confidential Information on any device or in any form or format except on devices and in such formats as expressly approved and issued by the Company to Employee. By way of example, and without limitation, Employee shall not text, copy, or otherwise transfer in any form or format Confidential Information to any document, paper, computer, tablet, Blackberry, cellular phone, personal mobile device, iPhone, iPad, thumb drive, smart phone memory, zip drive or disk, flash drive, external drive or any other similar device used for storing or recording data of any kind (the "<u>Devices</u>") unless such Device is issued by the Company to Employee, or unless such text, copy or transfer is expressly approved in writing by the Company before Employee's use of such Device.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6<u>Return of Confidential Information</u>. Upon termination of Employee's employment for any reason at any time, Employee shall immediately return to the Company, and retain no copies of, any all Confidential Information in Employee's possession or control. If any Confidential Information is recorded or saved in any format or on any Devices, Employee shall delete the Confidential Information and, upon Company's request, allow Company to inspect such Devices to confirm the deletion. Upon Company's request, Employee shall allow Company reasonable access to Employee's personal computers, email accounts, and Devices to confirm that Employee does not possess any Confidential Information of Company in contravention of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7<u>Acknowledgement of Copyrights in and to Compilations of Confidential Information</u>. Employee acknowledges that Company owns copyrights in any and all compilations of Confidential Information in any tangible or electronic form (including, but not limited to, printed lists, handwritten lists, spreadsheets, and databases) in any storage media, including, but not limited to, Devices, (collectively, "<u>Copyrighted Works</u>"). Employee further acknowledges that unauthorized copying, distributing, or creating derivative works, or inducing or contributing to such conduct by others, based on such Copyrighted Works constitutes infringement of Company's copyrights in and to the Copyrighted Works. Employee acknowledges that only the Chief Executive Officer or Chief Financial Officer of the Company are authorized to grant authorization to Employee to copy, distribute or create derivative works based on the Copyrighted Works. Employee shall obtain any such authorization from Company in writing, in advance of any copying, distribution or creation of derivative works by

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Employee. Employee acknowledges that federal law provides for civil liability and criminal penalties for copyright infringement. Employee agrees not to challenge, contest or dispute Company's right, title and interest in the Copyrighted Works and waives any legal or equitable defense to infringement of such Copyrighted Works.

9.<u>Representations and Warranties</u>. Employee hereby represents and warrants to Company, and hereby agrees with Company, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1A portion of Employee's compensation and consideration under this Agreement is (i) Company's agreement to employ Employee; (ii) Employee's agreement that the covenants contained in Sections 4 and 8 hereof are reasonable, appropriate and suitable in their geographic scope, duration and content; (iii) Employee's agreement that Employee shall not, directly or indirectly, raise any issue of the reasonableness, appropriateness and suitability of the geographic scope, duration or content of such covenants and agreements in any proceeding to enforce such covenants and agreements; (iv) Employee's agreement that such covenants and agreements shall survive the termination of this Agreement, in accordance with their terms; and (v) the free and full assignability by Company of such covenants and agreements upon a sale, reorganization or other transaction of any kind relating to the ownership and/or control of the Company or its members or assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2The enforcement of any remedy under this Agreement will not prevent Employee from earning a livelihood, because Employee's past work history and abilities are such that Employee can reasonably expect to find work irrespective of the covenants and agreements contained in Section 8 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3The covenants and agreements stated in Sections 4, 6, 7, and 8 hereof are essential for the Company's reasonable protection of its Trade Secrets, Business Contacts, and Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4The Company has reasonably relied on Employee's covenants, representations and agreements in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5Employee has the full right, power and authority to enter into this Agreement and perform Employee's duties and obligations hereunder, and the entering into and performance of this Agreement by Employee will not violate or conflict with any arrangements or other agreements Employee may have or agreed to have with any other person or entity.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6Employee acknowledges that the Company has and will continue to invest substantial time and expense in developing and protecting Confidential Information, all of which Employee expressly understands and agrees belongs solely and exclusively to Company. Employee further acknowledges and agrees that because the Company has and will continue to invest substantial time and expense in developing and protecting Confidential Information, that any loss of or damage to the Company as a result of a breach or threatened breach of any of the covenants or agreements set forth in Sections 4 and 8 hereof, the Company will suffer irreparable harm. Consequently, Employee covenants and agrees that any violation by Employee of Sections 4 or 8 of this Agreement shall entitle the Company to immediate injunctive relief in a court of competent jurisdiction without the necessity of posting any bond or waiving any claim for damages. Employee further covenants and agrees that Employee will not contest the enforceability of such an injunction in any state or country in which such an injunction is not, itself, a violation of law.

10.<u>Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1<u>Employer's Good Cause Termination</u>. Employer has the right to terminate this Agreement at any time during the Specified Term hereof for "Employer's Good Cause" (defined below in Section 22). Upon any such termination, Employer shall have no further liability or obligations whatsoever to Employee under this Agreement except as provided under Sections 10.1.1 and 10.1.2 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.1In the event Employer's Good Cause termination is the result of Employee's death during the Specified Term, Employee's beneficiary (as designated by Employee on Employer's benefit records) shall be entitled to receive Employee's salary for a twelve (12) month period following Employee's death, such amount to be paid at regular payroll intervals. Employer shall also pay any Earned Bonus Amount (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.2In the event Employer's Good Cause termination is the result of Employee's "<u>Disability</u>" (defined below in Section 22), Employer shall pay Employee (or Employee's beneficiary in the event of Employee's death during the period in which payments are being made) an amount equal to Employee's salary for twelve (12) months following Employee's termination, such amount to be paid at regular payroll intervals, net of payments received by Employee from any short term disability policy which is either self-insured by Employer or the premiums of which were paid by Employer (and not charged as compensation to Employee). Employer shall also pay any Earned Bonus Amount (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2<u>Employer's No Cause Termination</u>. Employer has the right to terminate this Agreement on written notice to Employee in its sole discretion for any cause Employer deems sufficient or for no cause, at any time during the Specified Term, including on the last day of the Specified Term. Subject to the conditions set forth below, Employer's sole liability to Employee upon such termination shall be as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.1Employee shall receive an amount equal to: (i) Employee's annual base salary and (ii) Target Bonus (the "<u>Severance Payment</u>"), less all applicable taxes, payable in twelve (12) monthly installments commencing upon the date that is thirty (30) days after the date of separation; plus any earned but unpaid discretionary bonus due to Employee, payable in accordance with the provisions of the Program. For the avoidance of doubt, an earned bonus includes any bonus where the performance period has been completed and a bonus has become payable to the Employee (an "Earned Bonus Amount"). In addition, Employee shall receive a lump sum payment equal to 1.5 times the cost of COBRA coverage for a period of twelve (12) months immediately following separation (the "<u>COBRA Payment</u>"), payable in twelve (12) monthly installments commencing upon separation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)If Employee remains employed at-will by Employer after expiration of the Specified Term and is thereafter separated during the Restrictive Period for No Cause, employee shall receive a lump sum payment (less all applicable taxes) equal to the Severance Payment, payable upon the date that is thirty (30) days after the date of separation and any Earned Bonus Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.2Employee's eligibility for the Severance Payment and COBRA Payment set forth in Section 10.2.1 shall be expressly subject to, conditioned upon, and in consideration of Employee's execution, within twenty-one (21) days following the date of Employee's termination of employment (or such shorter time period as may be required by the Company consistent with applicable law) and non-revocation of a release prepared by Employer and waiving and releasing Employer and the Company, their parents, subsidiaries and affiliates, and their officers, directors, agents, benefit plan trustees and employees, from any and all claims whether known or unknown, and regardless of type, cause or nature, including but not limited to claims arising under any and all express or implied employment agreements, any and all statutory and common law tort claims, any and all salary, bonus, stock, vacation (PTO), insurance and other benefit plans, and all state and federal laws, ordinances and statutes applicable to Employee's employment or the cessation of that employment that may be released by private agreement (including but not limited to Title VII of the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act as amended by the Older Workers Benefit Protection Act of 1990; the Americans with Disabilities Act, as amended; the Equal Pay Act; the Lily Ledbetter Fair Pay Act; the Family and Medical Leave Act; the Employee Retirement Income Security Act; the Genetic Information Nondiscrimination Act; Chapter 608, Compensation, Wages and Hours, of the Nevada Revised Statutes; Chapter 613, Employment Practices, of the Nevada Revised Statutes; the Worker Adjustment Retraining Notification Act ("<u>WARN</u>"); Post-Civil War Reconstruction Act, as Amended (42 U.S.C. §1981-1988); the National Labor Relations Act; the Labor Management Relations Act; any other federal, state or local law prohibiting employment discrimination or otherwise regulating employment; which release becomes irrevocable in accordance with its terms (which, for the avoidance of doubt, will occur

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within thirty (30) days or fewer following the date of Employee's termination of employment).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.3As a further condition to Employer's obligations under Section 10.2.1 above, Employee agrees to cooperate with Employer regarding matters on which Employee has worked, on a reasonable basis and at times mutually convenient to both parties. Employee further agrees to fully cooperate with the Company in any ongoing or future legal matters about which Employee has knowledge or information, or that concern Employee's former position with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.4Upon any such termination, Employee shall continue to be bound by the restrictions in Section 8 above; provided, however, that if the reason for the termination is the elimination of Employee's position, Employee shall not be bound by Section 8.1 but will continue to be bound by all other restrictions in Section 8 above. Notwithstanding anything to the contrary herein, Employer's conditional obligation under Section 10.2.1 to pay Employee's salary shall cease if Employee breaches in any material respect any of the covenants set forth in Section 8 above; additionally, and without waiving any rights to other damages resulting from said breach, Employer shall be entitled to recover any and all amounts already paid to Employee under Section 10.2.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3<u>Employee's Good Cause Termination</u>. Employee may terminate this Agreement for "Employee's Good Cause" (defined below in Section 22). Prior to any termination under this Section 10.3 being effective, Employee agrees to give Employer thirty (30) days' advance written notice, within thirty (30) days of the initial event comprising Employee's Good Cause, specifying the facts and circumstances that comprise Employee's Good Cause. During such thirty (30) day period, Employer may either cure the breach (in which case Employee's notice will be considered withdrawn and this Agreement will continue in full force and effect) or declare that Employer disputes that Employee's Good Cause exists, in which case this Agreement will continue in full force until the dispute is resolved in accordance with Section 12. In the event this Agreement is terminated under this Section 10.3, subject to the conditions set forth below, Employer's sole liability to Employee upon such termination shall be as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3.1Employee shall receive an amount equal to: (i) Employee's annual base salary and (ii) Target Bonus (the "<u>Severance Payment</u>"), less all applicable taxes, payable in twelve (12) monthly installments commencing upon the date that is thirty (30) days after the date of separation; plus any earned but unpaid discretionary bonus due to Employee, payable in accordance with the provisions of the Program. In addition, Employee shall receive a lump sum payment equal to 1.5 times the cost of COBRA coverage for a period of twelve (12) months immediately following separation (the "<u>COBRA Payment</u>"), payable in twelve (12) monthly installments commencing upon separation.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)If Employee remains employed at-will by Employer after expiration of the Specified Term and is thereafter separated during the Restrictive Period by Employee for Employee's Good Cause (assuming for purposes of such defined term that this Agreement remains in effect), Employee shall receive a lump sum payment (less all applicable taxes) equal to the Severance Payment, payable upon the date that is thirty (30) days after the date of separation and any Earned Bonus Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3.2Employee's eligibility for the salary payments and health benefits set forth in Section 10.3.1 shall be expressly subject to, conditioned upon, and in consideration of Employee's execution, within twenty-one (21) days following the date of Employee's termination of employment (or such shorter time period as may be required by the Company consistent with applicable law), and non-revocation of a release prepared by Employer and waiving and releasing Employer and the Company, their parents, subsidiaries and affiliates, and their officers, directors, agents, benefit plan trustees and employees, from any and all claims whether known or unknown, and regardless of type, cause or nature, including but not limited to claims arising under any and all express or implied employment agreements, any and all statutory and common law tort claims, any and all salary, bonus, stock, vacation (PTO), insurance and other benefit plans, and all state and federal laws, ordinances and statutes applicable to Employee's employment or the cessation of that employment that may be released by private agreement (including but not limited to Title VII of the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act as amended by the Older Workers Benefit Protection Act of 1990; the Americans with Disabilities Act, as amended; the Equal Pay Act; the Lily Ledbetter Fair Pay Act; the Family and Medical Leave Act; the Employee Retirement Income Security Act; the Genetic Information Nondiscrimination Act; Chapter 608, Compensation, Wages and Hours, of the Nevada Revised Statutes; Chapter 613, Employment Practices, of the Nevada Revised Statutes; the Worker Adjustment Retraining Notification Act ("<u>WARN</u>"); Post-Civil War Reconstruction Act, as Amended (42 U.S.C. §1981-1988); the National Labor Relations Act; the Labor Management Relations Act; any other federal, state or local law prohibiting employment discrimination or otherwise regulating employment; which release becomes irrevocable in accordance with its terms (which, for the avoidance of doubt, will occur within thirty (30) days or fewer following the date of Employee's termination of employment).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3.3As a further condition to Employer's salary obligations under Section 10.2.1 above, Employee agrees to cooperate with Employer regarding matters on which Employee has worked, on a reasonable basis and at times mutually convenient to both parties. Employee further agrees to fully cooperate with the Company in any ongoing or future legal matters about which Employee has knowledge or information, or that concern Employee's former position with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3.4In the event of termination of this Agreement under this Section 10.3, the restrictions of Section 8.1 shall no longer apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4<u>Employee's No Cause Termination</u>. In the event Employee terminates Employee's employment under this Agreement without cause, Employer will have no further liability or obligations whatsoever to Employee hereunder. Employer will be entitled to all of Employer's rights and remedies by reason of such termination, including without limitation, the right to enforce the covenants and agreements contained in Section 8 and Employer's right to recover damages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5<u>Survival of Covenants</u>. Notwithstanding anything contained in this Agreement to the contrary, except as specifically provided in Sections 10.2.4 and 10.3.4 with respect to the undertaking contained in Section 8.1, the covenants and agreements contained in Section 8 shall survive a termination of this Agreement or the cessation of Employee's employment to the extent and for the period provided for in Section 8, regardless of the reason for such termination.

11.<u>Arbitration</u>. Except as otherwise provided for in this Agreement and in <u>Exhibit D</u> to this Agreement (which constitutes a material provision of this Agreement), any controversy, dispute or claim directly or indirectly arising out of or relating to this Agreement, or the breach thereof, or arising out of or relating to the employment of Employee, or the termination thereof, shall be resolved by binding arbitration pursuant to <u>Exhibit D</u>.

12.<u>Disputed Claim</u>. In the event of any "<u>Disputed Claim</u>" (defined below in Section 22), such Disputed Claim shall be resolved by binding arbitration pursuant to <u>Exhibit D</u>. Unless and until the arbitration process for a Disputed Claim is finally resolved in Employee's favor and Employer thereafter fails to satisfy such award within thirty (30) days of its entry, Employee shall not have affected an Employee's Good Cause termination and Employee shall not have any termination rights pursuant to Section 10.3 with respect to such Disputed Claim. Nothing herein shall preclude or prohibit Company from invoking the provisions of Section 10.2, or of Company seeking or obtaining injunctive or other equitable relief.

13.<u>Severability</u>. If any section, provision, paragraph, phrase, word, and/or line (collectively, "<u>Provision</u>") of this Agreement is declared to be unenforceable, then this Agreement will be deemed retroactively modified to the extent necessary to render the otherwise unenforceable Provision, and the rest of the Agreement, valid and enforceable. If a court or arbitrator declines to modify this Agreement as provided herein, the invalidity or unenforceability of any Provision of this Agreement shall not affect the validity or enforceability of the remaining Provisions. This Section 13 does not limit the Company's rights to seek damages or such additional relief as may be allowed by law and/or equity in respect to any breach by Employee of the enforceable provisions of this Agreement.

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14.<u>No Waiver of Breach or Remedies</u>. No failure or delay on the part of Employee or Employer in exercising any right, power or remedy hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The remedies herein provided are cumulative and not exclusive of any remedies provided by law.

15.<u>Amendment or Modification</u>. No amendment, modification, termination or waiver of any provision of this Agreement shall be effective unless the same shall be in writing and signed by Employee and a duly authorized member of Employer's senior management and be approved by the Committee. No consent to any departure by Employee from any of the terms of this Agreement shall be effective unless the same is signed by a duly authorized member of Employer's senior management and is approved by the Committee. Any such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

16.<u>Governing Law</u>. The laws of the State in which the Employer's principal place of business is located shall govern the validity, construction and interpretation of this Agreement, and except for Disputed Claims and subject to the Arbitrations provisions included herewith, exclusive jurisdiction over any claim with respect to this Agreement shall reside in the courts of the State of Nevada.

17.<u>Number and Gender</u>. Where the context of this Agreement requires the singular shall mean the plural and vice versa and references to males shall apply equally to females and vice versa.

18.<u>Headings</u>. The headings in this Agreement have been included solely for convenience of reference and shall not be considered in the interpretation or construction of this Agreement.

19.<u>Assignment</u>. This Agreement is personal to Employee and may not be assigned by Employee. Employee agrees that Employer may assign this Agreement. Without limitation of the foregoing, Employee expressly agrees that Employer's successors, affiliates and assigns may enforce the provisions of Section 8 above, and that five percent (5%) of the annual salary Employer has agreed to pay in Section 3 above is in consideration for Employee's consent to the right of Employer's successors, affiliates and assigns to enforce the provisions of Section 8.

20.<u>Successors and Assigns</u>. This Agreement shall be binding upon and inure to the benefit of Employer's successors and assigns.

21.<u>Prior Agreements</u>. This Agreement shall supersede and replace any and all other employment agreements which may have been entered into by and between the parties, including, without limitation, the Employment Agreement, dated as of January 26, 2021, by and between Employee and Employer. Any such prior employment agreements shall be of no force and effect.

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22.<u>Certain Definitions</u>. As used in this Agreement:

"<u>Business Contacts</u>" are defined as the names, addresses, contact information or any information pertaining to any persons, advertisers, suppliers, vendors, independent contractors, brokers, partners, employees, entities, patrons or customers (excluding Company's Trade Secrets, which are protected from disclosure in accordance with Section 8.2 above) upon whom or which Employee: contacted or attempted to contact in any manner, directly or indirectly, or which Company reasonably anticipated Employee would contact within six months of Employee's last day of employment at Company, or with whom or which Employee worked or attempted to work during Employee's employment by Company.

"<u>Company</u>" means MGM Resorts International, and all of its subsidiary and affiliated entities, together with all of their respective officers, directors, joint venturers, members, shareholders, employees, ERISA plans, attorneys and assigns.

"<u>Competitor</u>" means any person, corporation, partnership, limited liability company or other entity which is either directly, indirectly or through an affiliated company, engaged in or proposes to engage in the development, ownership, operation or management of (i) gaming facilities; (ii) convention or meeting facilities; or (iii) one or more hotels if any such hotel is connected in any way, whether physically or by business association, to a gaming establishment and, further, where Competitor's activities are within a 150 mile radius of any location where any of the foregoing facilities, hotels, or venues are, or are proposed to be, owned, operated, managed or developed by the Company. Given the unique nature of Employee's involvement in Employer's sports betting and mobile gaming/betting business, Competitor also includes any business or enterprise (located anywhere in the world) which owns, operates, develops, maintains or facilitates the operation of mobile gaming/betting, regardless of whether such mobile gaming/betting is conducted online, through an "app," via peer-to-peer transactions, and/or under the auspices of a gaming-resort. Without limitation, William Hill is an example of such a Competitor, and Flutter Entertainment plc (formerly Paddy Power Betfair plc), which is based in Ireland, the United Kingdom and Italy, but which engages in business in the United States, is another. Because Employer's business interest in the mobile gaming/betting market and customer base is not dependent on geographic proximity or location and instead draws from Business Contacts around the world, and because such business or enterprise allows for Employee to work remotely, Employee agrees the foregoing world-wide restriction is reasonable and necessary.

"<u>Confidential Information</u>" is defined as all Trade Secrets, Business Contacts, business practices, business procedures, business processes, financial information, contractual relationships, marketing practices and procedures, management policies and procedures, and/or any other information of the Company or otherwise regarding the Company's operations and/or Trade Secrets or those of any member of the Company and all information maintained or entered on any database, document or report set forth on

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Exhibit C or any other loyalty, hotel, casino or other customer database or system, irrespective of whether such information is used by Employee during Employee's employment by Company.

"<u>Disputed Claim</u>" means that Employee maintains pursuant to Section 10.3 that Employer has materially breached its duty to Employee and Employer has denied such material breach.

"<u>Employee's Good Cause</u>" shall mean (i) any assignment to Employee of duties that are materially and significantly different than those contemplated by the terms of this Agreement; (ii) any material and significant limitation on the powers of the Employee not contemplated by the terms of the Agreement; (iii) a material adverse change in Employee's reporting relationship; or (iv) the failure of Employer to pay Employee any compensation when due, save and except a Disputed Claim to compensation.

"<u>Employee's Physician</u>" shall mean a licensed physician selected by Employee for purposes of determining Employee's disability pursuant to the terms of this Agreement.

"<u>Employer's Good Cause</u>" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Employee's death;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;Employee's "<u>Disability</u>," which is hereby defined to include incapacity for medical reasons certified to by "Employer's Physician" (defined below) which precludes the Employee from performing the essential functions of Employee's duties hereunder for a consecutive or predominately consecutive period of six (6) months, with or without reasonable accommodations. (In the event Employee disagrees with the conclusions of Employer's Physician, Employee (or Employee's representative) shall designate a physician of Employee's choice, ("<u>Employee's Physician</u>") and Employer's Physician and Employee's Physician shall then jointly select a third physician, who shall make a final determination regarding Employee's Disability, which shall be binding on the parties). Employee acknowledges that consistent and reliable attendance is an essential function of Employee's position. Employee agrees and acknowledges that a termination under this paragraph does not violate any federal, state or local law, regulation or ordinance, including but not limited to the Americans With Disabilities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;(A) the Employee's conviction of, or plea of guilty or nolo contendere to (x) a crime relating to the Company or its affiliates or (y) any felony, (B) Employee is found disqualified or not suitable to hold a casino or other gaming license by a final, non-appealable determination (or if Employee fails to appeal a determination that may be appealed) of an applicable governmental gaming authority, which causes Employee's failure or inability to satisfy gaming licensing requirements set forth in this Agreement, (C) willful misconduct, gross misconduct, or gross negligence in the performance of the Employee's duties to the Company, (D) a material breach by the Employee of any material written agreement entered into between the Employee and the Company, or any material written policy of the Company, including the Company's sexual harassment

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policy, (E) the Employee's refusal or intentional failure to follow a lawful and proper direction of the Chief Executive Officer or the Board, or (F) any conduct (whether or not listed in (A) through (E) of this paragraph) by the Employee, whether or not in the course of performing the Employee's responsibilities to the Company, that has or is reasonably likely to have a material adverse effect on the business, assets or reputation of the Company; in the cases of each of (C) through (F) above, that, if curable, is not cured by the Employee within thirty (30) days following the Employee's receipt of written notice given to the Employee by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;Employee's failure or inability to satisfy the requirements stated in Section 6 above.

"<u>Employer's Physician</u>" shall mean a licensed physician selected by Employer for purposes of determining Employee's disability pursuant to the terms of this Agreement.

"<u>Restrictive Period</u>" means the twelve (12) month period immediately following any separation of Employee from active employment for any reason occurring during the Specified Term or the twelve (12) month period immediately following the expiration of the Specified Term.

"<u>Trade Secrets</u>" are defined in a manner consistent with the broadest interpretation of Nevada law. Trade Secrets shall include, without limitation, Confidential Information, formulas, inventions, patterns, compilations, vendor lists, customer lists, contracts, business plans and practices, marketing plans and practices, financial plans and practices, programs, devices, methods, know-hows, techniques or processes, any of which derive economic value, present or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who may or could obtain any economic value from its disclosure or use, including but not limited to the general public.

23. Employee acknowledges that MGM Resorts International is a publicly traded company and agrees that in the event there is any default or alleged default by Employer under the Agreement, or Employee has or may have any claims arising from or relating to the Agreement, Employee shall not commence any action or otherwise seek to impose any liability whatsoever against any person or entity in its capacity as a stockholder of MGM Resorts International ("<u>Stockholder</u>"). Employee further agrees that Employee shall not permit any party claiming through Employee, to assert a claim or impose any liability against any Stockholder (in its capacity as a Stockholder) as to any matter or thing arising out of or relating to the Agreement or any alleged breach or default by Employer.

24.<u>Section 409A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.1This Agreement is intended to comply with, or otherwise be exempt from, Section 409A of Internal Revenue Code of 1986, as amended (the "<u>Code</u>") and any regulations and Treasury guidance promulgated thereunder ("<u>Section 409A</u>"). If Employer determines in good faith that any provision of this Agreement would cause Employee to incur an additional tax, penalty, or interest under Section 409A, the Committee and Employee shall use reasonable efforts to reform such provision, if possible, in a mutually agreeable fashion to maintain to the maximum extent practicable the original intent of the applicable provision without

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violating the provisions of Section 409A or causing the imposition of such additional tax, penalty, or interest under Section 409A. The preceding provisions, however, shall not be construed as a guarantee by Employer of any particular tax effect to Employee under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.2"Termination of employment," or words of similar import, as used in this Agreement means, for purposes of any payments under this Agreement that are payments of deferred compensation subject to Section 409A, Employee's "separation from service" as defined in Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.3For purposes of Section 409A, the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.4With respect to any reimbursement of Employee's expenses, or any provision of in-kind benefits to Employee, as specified under this Agreement, such reimbursement of expenses or provision of in-kind benefits shall be subject to the following conditions: (1) the expenses eligible for reimbursement or the amount of in-kind benefits provided in one taxable year shall not affect the expenses eligible for reimbursement or the amount of in-kind benefits provided in any other taxable year, except for any medical reimbursement arrangement providing for the reimbursement of expenses referred to in Section 105(b) of the Code; (2) the reimbursement of an eligible expense shall be made pursuant to Employer's reimbursement policy but no later than the end of the year after the year in which such expense was incurred; and (3) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.5If a payment obligation under this Agreement that constitutes a payment of "deferred compensation" (as defined under Treasury Regulation Section 1.409A-1(b)(1), after giving effect to the exemptions in Treasury Regulation Sections 1.409A-1(b)(3) through (b)(12)) arises on account of Employee's separation from service while Employee is a "specified employee" (as defined under Section 409A), any payment thereof that is scheduled to be paid within six (6) months after such separation from service shall accrue without interest and shall be paid within 15 days after the end of the six-month period beginning on the date of such separation from service or, if earlier, within 15 days following Employee's death.

25.<u>Ownership of Intellectual Property</u>. Employee expressly acknowledges that all trademarks, trade dress, copyrightable works, patentable inventions, ideas, new or novel inventions, concepts, systems, methods of operation, improvements, strategies, techniques, trade secrets including, but not limited to, customers (including, but not limited to, customer names, contact information, historical and/or theoretical play, or other information, and the right to market to such customers), data of any type or nature and regardless of the form or media, as well as all materials of any type of nature that comprise, reflect or embody any of the foregoing including, without limitation, databases, software, artistic works, advertisements, brochures, marketing plans, customer lists, memoranda, business plans, and proposals (collectively, "<u>Intellectual Property</u>") created, conceived, developed, contributed to, or otherwise obtained, in whole or in part by the Employee during the term of Employee's employment by Employer shall at all times be owned by Employer (and is hereby expressly assigned by Employee to Employer) if the Intellectual Property: (a) was created, conceived, developed, or contributed to: (1) using any of Employer's property or resources; (2) on Employer's premises; or (3) during Employee's hours of employment; or (b) relates to Employee's employment by Employer, even though creation of such Intellectual Property was not within the scope of

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26.<u>Certain Protections</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.1Employee understands that nothing contained in this Agreement limits or otherwise prohibits Employee from filing a charge or complaint with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission ("<u>Government Agencies</u>"). Employee further understands that this Agreement does not limit Employee's ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information (subject to paragraph 26.2 below), without notice to the Employer. This Agreement does not limit Employee's right to receive an award for information provided to any Government Agencies.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.2<u>Defend Trade Secrets Act Notice</u>. Notwithstanding anything to the contrary in this Agreement or otherwise, pursuant to the Defend Trade Secrets Act of 2016, Employer hereby advises Employee as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (i) is made (a) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (b) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (i) files any document containing the trade secret under seal; and (ii) does not disclose the trade secret, except pursuant to court order.

**IN WITNESS WHEREOF**, Employer and Employee have entered into this Agreement in Las Vegas, Nevada, as of the date first written above.

---

| | |
|:---|:---|
| **EMPLOYEE – Jonathan Halkyard** | **EMPLOYEE – Jonathan Halkyard** |
| /s/ Jonathan Halkyard | /s/ Jonathan Halkyard |
| Dated: | 9/16/2025 |
| **EMPLOYER – MGM Resorts International** | **EMPLOYER – MGM Resorts International** |
| /s/ William J. Hornbuckle | /s/ William J. Hornbuckle |
| By:&nbsp;&nbsp;&nbsp;&nbsp;William J. Hornbuckle, Chief Executive<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Officer and President  | By:&nbsp;&nbsp;&nbsp;&nbsp;William J. Hornbuckle, Chief Executive<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Officer and President  |
| Dated: | 9/16/2025 |

---

## Exhibit 10.2

**Exhibit 10.2**

**EMPLOYMENT AGREEMENT**

This Employment Agreement (this "Agreement") is entered into as of September 16, 2025**,** with an effective date of **October 1, 2025,** by and between **MGM Resorts Satellite, LLC** ("Employer"), and **Gary Fritz** ("Employee").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Employment</u>. Employer hereby employs Employee, and Employee hereby accepts employment by Employer as **Chief Commercial Officer and President, MGM Digital**, reporting to the Chief Executive Officer, to perform such executive duties as Employer may specify from time to time during the Specified Term (as defined in Section 2). If during the Specified Term Employee becomes an employee of another employer affiliated with the "Company," Employee's employment with Employer shall terminate as of the date Employee commences such other employment and, pursuant to Section 19, Employee's new Company employer shall assume all rights and obligations of Employer under this Agreement. For purposes of this Agreement, "Company" means MGM Resorts International, and all of its subsidiary and affiliated entities, together with all of their respective officers, directors, joint venturers, members, shareholders, employees, ERISA plans, attorneys and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Term</u>. The term of employment under this Agreement commences on **October 1, 2025** and it terminates on **September 30, 2028** (the "Specified Term"), unless a new written employment agreement is executed by the parties. If Employee remains employed after the expiration of the Specified Term, and the parties do not execute a new employment agreement, then Employee shall be employed **at-will** and none of the provisions of the Agreement shall apply to Employee's continued employment at-will, except applicable provisions of Sections 8, 10 (including, but not limited to, definitions of Employer's Good Cause and Employee's Good Cause), 11, 12-23, 24 (so long as the Board continues to determine that Employee is an Officer of MGM Resorts International ("MGM"), and 25, and Employer shall have the right to terminate Employee's employment with or without cause or notice, for any reason or no reason, and (unless otherwise provided herein) without any payment of severance or compensation, except as described in Section 10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Compensation</u>. During the Specified Term, Employer shall pay Employee a minimum annual salary of **$1,500,000** payable in arrears at such frequencies and times as Employer pays its other employees. Employee is also eligible to receive employee and fringe benefits that are no less favorable than those provided to employees having the rank of the second highest senior executive of the Company. Employer will reimburse Employee for all reasonable business and travel expenses Employee incurs in performing Employee's duties under this Agreement payable in accordance with Employer's customary practices and policies as Employer may modify and amend them from time to time. Employee's performance may be reviewed periodically. Employee may be eligible to participate in MGM Resorts' deferred compensation plan according to the terms and conditions of the plan, which may be amended or discontinued at any time at the Company's discretion. Employee is eligible for consideration for a discretionary raise,

Employment Agreement – Gary Fritz (2025)

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bonuses (whether in cash or equity or equity-based awards), promotion, and/or participation in discretionary benefit plans; provided, however, whether and to what extent Employee will be granted any of the above will be determined by Employer in its sole and absolute discretion. In addition,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1<u>Annual Bonus</u>. Effective October 1, 2025, Employee will be eligible for a discretionary annual bonus (the "Annual Bonus") pursuant to the terms of this Agreement, with a target bonus amount equal to **175%** of Employee's base salary (the "Target Bonus"). With respect to the 2025 fiscal year, the Bonus will be administered pursuant to the terms of the Bonus Letter Dated March 11, 2025 (the "Bonus Letter"); provided, however, that Paragraph 1.A. of the Bonus Letter is revised to provide that Employee shall receive a pro-rated bonus for the 2025 fiscal year based on his effective salary and target bonus percentage during the year. Consistent with this Agreement, the terms and conditions of the annual bonus program may be changed from time to time. Except as otherwise provided in Sections 10.2, 10.3, 10.4 or 10.6, any Bonus under this Section 3.1 shall be paid at such time as the Company pays bonuses to the Company's other senior executives with respect to each fiscal year, but not earlier than January 1 or later than March 15 of the year immediately following the end of each fiscal year; provided that to the extent any such bonus is in excess of **150%** of the Target Bonus (such excess portion, the "Incremental Bonus Amount"), the Incremental Bonus Amount shall be payable 100% in the form of fully vested restricted stock units (the "Deferred RSUs"). The Deferred RSUs will be granted as of the Bonus Determination Date pursuant to the terms of the Company's 2022 Omnibus Incentive Plan and the Company's Form of Deferred Restricted Stock Unit Agreement for Bonus Payouts (the "Award Agreement"). The Deferred RSUs shall be payable annually in three equal installments over the three-year period following the grant date, subject to acceleration in the event of Employee's termination of employment, in accordance with the specific terms set forth in the Award Agreement. Any Annual Bonus shall be subject to the Policy on Recovery of Incentive Compensation in Event of Financial Restatement, as may be amended by the Company from time to time in its discretion, and any other clawback policies as may be adopted from time to time, including but not limited to for the purpose of complying with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and regulations thereunder promulgated by the Securities Exchange Commission (the "SEC").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2<u>Air Travel</u>. It is anticipated that Employee will be required to travel extensively on behalf of Employer. Such travel, if by air, may be on aircraft provided by Employer (if authorized by the Chief Executive Officer), or if commercial airlines are used, on a first-class basis (or best available basis, if first class is not available).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3<u>Incentive Opportunities</u>. During the Specified Term, Employee will be provided two discrete incentive opportunities tied to key role-specific objectives: (1) **$2,000,000** for achievement of a trailing twelve month Adjusted EBITDA at BetMGM, LLC, split 50% in a one-time single lump sum cash amount and 50% in RSUs vesting over the three year period following the grant date; and (2) **$500,000** for successfully launching a defined digital offering on an MGM property split 50% in a one-time single lump sum cash amount and 50% in RSUs (which, for the avoidance of doubt, replaces and supersedes the bonus set forth in Employee's prior agreement). Each of these incentive opportunities is more fully detailed in <u>Exhibit A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4<u>RSU Signing Bonus</u>. The Company hereby grants to Employee on the Effective Date (the "Grant Date"), subject to the terms and conditions of the Plan and the Restricted Stock Units Agreement attached as <u>Exhibit B</u>, **25,000** Restricted Stock Units vesting on the one-year anniversary of the Grant Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5<u>Annual Equity Awards</u>. Employee shall be eligible for annual equity awards in 2025, 2026 and 2027 in forms and amounts determined by the Human Capital and Compensation Committee (the "Committee") in its discretion. It is the Committee's present expectation that such annual awards will have an aggregate value targeted at **$4,500,000** and that such annual awards will be provided (i) 50% in the form of RSUs of the Company that are subject to performance-based and service-based vesting conditions and (ii) 50% in the form of RSUs that are subject solely to service-based vesting conditions. These annual awards and any other equity awards granted on or after the Effective Date shall be subject to such terms as the Committee may determine in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6<u>Equity Agreements; COC Policy.</u> Notwithstanding anything herein to the contrary, (A) with respect to any regular annual incentive awards or awards pursuant to Section 3.3 granted to Employee during the Specified Term under the Omnibus Plan or any successor thereto (but excluding any one-time or special retention awards, as determined by the Committee), the applicable award agreements for such awards shall include provisions with respect (i) death or Disability, (ii) termination by Employer other than by reason of "Employer's Good Cause" and (iii) termination by Employee by reason of "Participant's Good Cause" that shall, with respect to RSUs be no less favorable to Employee than as set forth in the Form of Restricted Stock Units Agreement filed as Exhibit 10.4(31) to the Company's Annual Report on Form 10-K for the year ended December 31, 2024 (the "Form 10-K") and, with respect to Relative Performance Share Units, the Form of Relative Performance Share Unit Agreement filed Exhibit 10.4(32) to Form 10-K and the Form of Performance Share Unit Agreement filed as Exhibit 10.4(33) to the Form 10-K and (B) during the Specified Term, any benefits Employee receives in connection with a Change of Control shall be no less favorable than those benefits provided in the Amended and Restated Change of Control Policy For Executive Officers adopted on August 16, 2022 (the "COC Policy").

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Extent of Services</u>. Employee agrees that Employee's employment by Employer is full time and exclusive. Employee further agrees to perform Employee's duties in a competent, trustworthy and businesslike manner. Employee agrees that during the Specified Term Employee will not render any services of any kind (whether or not for compensation) for any person or entity and that Employee will not engage in any other

business activity (whether or not for compensation) that is similar to or conflicts with Employee's duties under this Agreement, without the approval of the CEO or the Chief Legal and Administrative Officer (or General Counsel, as applicable) or the person or persons designated by the Office of the General Counsel to determine such matters. Employer understands that Employee serves or intends to serve on corporate boards and the restrictions of this Section 4 will not apply to Employee's board service, whether or not such board service is compensated, if such board service does not pose a conflict of interest to the Company (it being agreed that service on the board of a competitor of the Company or BetMGM would pose a conflict) and provided that Employee only serves on one public company Board (in addition to any Boards specified on <u>Exhibit C</u> hereto). Employee must submit a conflict-of-interest form in connection with all such activities and receive approval from the Company, which approval shall not be unreasonably withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Policies and Procedures</u>. Employee agrees and acknowledges that Employee is bound by Employer's policies and procedures as they may be modified, amended or adopted by Employer from time to time including, but not limited to, the Anti-Discrimination/Anti-Harassment/No Retaliation, Code of Conduct and Conflict of Interest policies. In the event the terms in this Agreement conflict with Employer's policies and procedures, the terms of this Agreement shall take precedence. As Employee is aware, problem gaming and underage gambling can have adverse effects on individuals and the gaming industry as a whole. Employee acknowledges that Employee has read and is familiar with Employer's policies, procedures and manuals and agrees to abide by them. Because these matters are of such importance to Employer, Employee specifically confirms that Employee is familiar with and will comply with Employer's policies of prohibiting underage gaming and supporting programs to treat compulsive gambling.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Licensing Requirements</u>. Employee acknowledges that Employer and its affiliates are engaged in a business in various jurisdictions that are or may be subject to and exists because of privileged licenses issued by governmental authorities within and outside the United States. Employee shall apply for and obtain any license, qualification, clearance or other similar approval that Employer or its affiliates or any regulatory authority, which has jurisdiction over Employer or its affiliates, requests or requires that Employee obtain.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Failure to Satisfy Licensing Requirement</u>. Employer has the right to terminate Employee's employment under Section 10.1 of this Agreement if: (i) Employee fails to satisfy any licensing requirement referred to in Section 6 above; (ii) Employer or any of its subsidiaries is directed to cease business with Employee by any governmental authority referred to in Section 6 above; (iii) Employer determines, in its sole and exclusive judgment, that Employee was, is or might be involved in, or are about to be involved in, any activity, relationship(s) or circumstance which could or does jeopardize Employer's business, reputation or such licenses; or (iv) any of Employer's licenses is threatened to be, or is, denied, curtailed, suspended or revoked as a result of Employee's employment by Employer or as a result of Employee's actions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Restrictive Covenants</u>. Employee acknowledges that in the course of performing Employee's responsibilities under this Agreement Employee will form relationships and become acquainted with Employer and Company's "Trade Secrets" and "Confidential Information" (defined below in Sections 8.3.1 and 8.3.2). Employee further acknowledges that such relationships, Trade Secrets, and Confidential Information are valuable to Employer. Employee therefore acknowledges that the restrictions on Employee's future employment contained in this Agreement, if any, are reasonably necessary and appropriate in scope such that such restrictions do not impose an undue hardship on Employee and are no broader than necessary for the protection of Employer. In light of the valuable consideration provided for in this Agreement including, but not limited to, Employee's offer of employment and/or continued employment, and the "Severance Payment" to which Employee is entitled to under the circumstances stated below in Section 10, Employee agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1<u>Competition</u>. During the term of Employee's employment within the Specified Term and for a period of 12 months immediately thereafter (the "<u>Restricted Period</u>"), Employee shall not directly or indirectly be employed by, provide consultation or other services to, engage in, participate in or otherwise be connected in any way with any "Competitor" (defined below) in any capacity that is the same or substantially the same to the position or capacity (irrespective of title or department) as Employee held during the last year of Employee's employment with Employer. Notwithstanding the foregoing, if (a) during the Specified Term, (i) Employer terminates this Agreement due to elimination of Employees position (and such general duties are not otherwise moved to another position or role regardless of the title) or (ii) Employee terminates this Agreement with Employee Good Cause, or (b) Employee remains employed at-will by Employer after expiration of the Specified Term and is thereafter separated by Employer during the Restricted Period for any reason other than "Employer's Good Cause" (defined below), Employee shall not be subject to this Section 8.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1.1.<u>Competitor Defined</u>. "<u>Competitor</u>" means any person, corporation, partnership, limited liability company or other entity which is either directly, indirectly or through an affiliated company, engaged in or proposes to engage in the development, ownership, operation or management of (i) gaming facilities; (ii) convention or meeting facilities; or (iii) one or more hotels if any such hotel is connected in any way, whether physically or by business association, to a gaming establishment and, further, where Competitor's activities are within a

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150 mile radius of any location where any of the foregoing facilities, hotels, or venues are, or are proposed to be, owned, operated, managed or developed by the Company. Given the unique nature of Employee's involvement in Employer's sports betting and mobile gaming/betting business, Competitor also includes any business or enterprise (located anywhere in the world) which owns, operates, develops, maintains or facilitates the

operation of mobile gaming/betting, regardless of whether such mobile gaming/betting is conducted online, through an "app," via peer-to-peer transactions, and/or under the auspices of a gaming-resort. Without limitation, William Hill is an example of such a Competitor, and Flutter Entertainment plc (formerly Paddy Power Betfair plc), which is based in Ireland, the United Kingdom and Italy, but which engages in business in the United States, is another. Because Employer's business interest in the mobile gaming/betting market and customer base is not dependent on geographic proximity or location and instead draws from Business Contacts around the world, and because such business or enterprise allows for Employee to work remotely, Employee agrees the foregoing world- wide restriction is reasonable and necessary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2<u>Non-Solicitation</u>. At all times during Employee's employment with Employer, and for twelve (12) months thereafter, Employee will not, without the prior written consent of Employer, in each and every instance such consent to be within Employer's sole and absolute discretion, call on, solicit, induce to leave and/or take away, or attempt to call on, solicit, induce to leave and/or take away:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.1.any "Business Contacts" (defined below) of Employer or the Company for the benefit of a Competitor or any person or entity working on behalf of a Competitor. For purposes of this Agreement "Business Contacts" means (a) any person including, but not limited to, any of Employer or Company's patrons, customers or guests, or agents of thereof, (b) any business entity including, but not limited to, advertisers, suppliers, vendors, or independent contractors, or agent thereof, or (c) any contact or other information pertaining to any person or business entity with whom Employee worked or did business during the 12 months prior to Employee's termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.2.any Business Contact for purposes of prompting or attempting to prompt such Business Contact to cease or diminish his/her/its relationship with Employer or the Company for the benefit of a Competitor or any person or entity working on behalf of a Competitor; or,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.3.any of Employer's employees who worked in any department in which Employee worked during the 12 months immediately prior to Employee's termination to end such employee's employment with Employer or to breach any agreement with Employer, including, but not limited to an agreement for non-disclosure, non- competition or non-solicitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3<u>Confidentiality</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3.1.<u>Trade Secrets</u>. At all times during Employee's employment with Employer, and at all times thereafter, Employee shall not use, access, disclose, make known to, or otherwise disseminate for personal gain or for the benefit of a third party (or induce, encourage or assist others in doing any of the foregoing acts) any Employer or Company "Trade Secrets" (defined below) for any purpose whatsoever. "Trade Secrets" are defined in a manner consistent with the broadest interpretation of the law of the state in which Employee was last employed and shall include, without limitation, formulas, inventions, patterns, compilations, vendor lists, customer lists, contracts, business plans and practices, marketing plans and practices, financial plans and practices, programs, devices, methods, know-hows, techniques or processes, any of which derive economic value, present or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who may or could obtain any economic value from its disclosure or use, including but not limited to the general public.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3.2.<u>Confidential Information</u>. At all times during Employee's employment with Employer and thereafter, Employee shall not, without the prior written consent of Employer's Chief Executive Officer, Chief Operating Officer, President, or Chief Legal Officer (or General Counsel, as applicable), in each and every instance--such consent to be within Employer's sole and absolute discretion--use, disclose or make known to any person, entity or other third party outside of Employer or Company any "Confidential Information" (defined below) belonging to Employer or the Company. For purposes of this Agreement Confidential Information includes, but is not limited to, Employer's Business Contacts; business plans, practices, and procedures; contractual relationships; financial information, operations or plans; financial management systems; marketing practices and procedures; management policies; customer databases; client and customer lists; the identities and contact information for customers, players, and/or guests; pricing systems pertaining to all goods and services offered by Employer; and any information regarding Employer's marketing, financial plans and practices, and business operation whatsoever that a reasonable person in Employee's position would understand to be confidential or proprietary that is not already generally known to the public through no wrongful act of Employee or any other party known to Employee.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3.2.1 Notwithstanding the foregoing, the provisions of Section 8.3.1 shall not apply to Confidential Information: (i) that is required to be disclosed by law or by any court, arbitrator, mediator or administrative or legislative body (including any

committee thereof) in any litigation, arbitration, mediation or legislative hearing, with jurisdiction to order Employee to disclose or make accessible any information, provided, however, that Employee provides Employer with ten (10) days' advance written notice of such disclosure to enable Employer to seek a protective order or other relief to protect the confidentiality of such Confidential Information; (ii) that becomes generally known to the public or within the relevant trade or industry other than due to Employee's violation of this Agreement; or (iii) that becomes available to Employee on a non-confidential basis from a source that is legally entitled to disclose it to Employee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3.2.2 Under the federal Defend Trade Secrets Act of 2016, Employee shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made to Employee's attorney in relation to a lawsuit for retaliation against Employee for reporting a suspected violation of law; or (c) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

Nothing in this Agreement (or another agreement between Employee and the Company) is intended to or shall prevent or interfere with Employee disclosing information that Employee has a right to disclose under applicable law, including but not limited to: (i) Employee discussing or disclosing information relating to conduct that Employee reasonably believes to be illegal discrimination, illegal harassment, illegal retaliation, a wage and hour violation, sexual assault that is recognized as illegal under any state, federal, or common law, or that is recognized as against a clear mandate of public policy, and that occurs or occurred at the workplace, at work-related events coordinated by or through the Company, between employees of the Company or between the Company and an employee, whether on or off the employment premises; and (ii) Employee disclosing Employee's own compensation information with other employees, or with third parties who are not future employers or competitors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4<u>Third Party Information</u>. Employee understands and acknowledges that Employer and the Company have received, and in the future will receive, from third parties, their confidential or proprietary information subject to a duty to

maintain the confidentiality of such information and to use it only for certain limited purposes. At all times during Employee's employment with Employer, whether pursuant

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to this Agreement or at-will, and at all times thereafter, Employee shall hold any and all such third party confidential or proprietary information of third parties in the strictest confidence and will not intentionally or negligently disclose it to any person or entity or to use it except as necessary in carrying out Employee's duties and obligations hereunder consistent with the Employer or Company's agreement with such third party. Employee shall not be in violation of Employee's obligations hereunder if such third party confidential or proprietary information is already generally known to the public through no wrongful act of Employee or any other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5<u>Acknowledgement of Ownership of Confidential Information Property</u> <u>Acquired or Developed During Employment; Non-Transfer</u>. Employee understands, agrees, and hereby confirms that Employee's duties and responsibilities include acquiring Confidential Information and developing Relationships for the benefit of Employer and Employer. Employee acknowledges that Confidential Information acquired, obtained, learned, or developed during Employee's employment with Employer, including but not limited to, Business Contacts developed during Employee's employment, constitutes the sole and exclusive property of Employer, regardless of whether the information qualifies for protection as a Trade Secret. Employee further understands, agrees, and hereby confirms that during Employee's employment, Employee shall not, at any time or for any reason whatsoever, except upon the express written authorization of Employer, store, transfer, maintain, copy, duplicate or otherwise possess Confidential Information on any device or in any form or format except on devices and in such formats as expressly approved and issued by Employer to Employee. By way of example, and without limitation, Employee shall not text, copy, or otherwise transfer in any form or format Confidential Information to any document, paper, computer, tablet, cellular phone, personal mobile device, iPhone, iPad, thumb drive, smart phone memory, zip drive or disk, flash drive, external drive or any other similar device used for storing or recording data of any kind (a "Device" or the "Devices") unless such Device is issued by Employer to Employee, or unless such text, copy or transfer is expressly approved in writing by Employer before Employee's use of such Device. Employer expressly approves Employee's use of the following devices for his work with the Company: MacBook Pro, iPad and Google Pixel Phone (including future replacements for these devices). Employee may store, transfer, maintain, copy, duplicate or otherwise possess Confidential Information on or to said devices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6<u>Return of Confidential Information</u>. Upon termination of Employee's employment for any reason at any time, Employee shall immediately return to Employer, and retain no copies of, any and all Confidential Information in Employee's possession or control. If any Confidential Information is recorded or

saved in any format or on any Devices, Employee shall delete the Confidential Information. Upon Employer's request, at Employer's expense and through a mutually agreed third party service and protocol, Employee will allow Employer to inspect such Devices to confirm the deletion. Upon Employer's request, at Employer's expense and through a mutually agreed third party service and protocol, Employee shall allow Employer reasonable access to Employee's personal computers, email accounts, and

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Devices to confirm that Employee does not possess any Confidential Information of Employer in contravention of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7<u>Acknowledgement of Copyrights in and to Compilations of Confidential</u> <u>Information</u>. Employee acknowledges that Employer and/or the Company owns copyrights in any and all compilations of Confidential Information in any tangible or electronic form (including, but not limited to, printed lists, handwritten lists, spreadsheets, and databases) in any storage media, including, but not limited to, Devices, (collectively, "Copyrighted Works"). Employee further acknowledges that unauthorized copying, distributing, or creating derivative works, or inducing or contributing to such conduct by others, based on such Copyrighted Works constitutes infringement of Employer and/or the Company's copyrights in and to the Copyrighted Works. Employee acknowledges that only the Chief Executive Officer, Chief Operating Officer, President, or Chief Legal and Administrative Officer (or General Counsel, as applicable) of Employer or the Company are authorized to grant authorization to Employee to copy, distribute or create derivative works based on the Copyrighted Works. Employee shall obtain any such authorization from Employer or the Company in writing, in advance of any copying, distribution or creation of derivative works by Employee. Employee acknowledges that federal law provides for civil liability and criminal penalties for copyright infringement. Employee agrees not to challenge, contest or dispute Employer's or the Company's right, title and interest in the Copyrighted Works and waives any legal or equitable defense to infringement of such Copyrighted Works.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Representations and Warranties</u>. Employee hereby represents and warrants to Employer, and hereby agrees with Employer, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1Employee has received valuable consideration in light of each and all of the restrictions set forth above in Sections 4 and 8. Employee therefore expressly agrees that the restrictions contained in Sections 4 and 8 are reasonable, appropriate and suitable in their geographic scope, duration and content, and are essential for Employer's reasonable protection of its Trade Secrets, Business Contacts, and Confidential Information. In accordance with Employee's agreement to suitability, appropriateness, and reasonableness of such restriction, Employee agrees that Employee shall not raise any issue of the reasonableness, appropriateness and suitability of the geographic scope, duration or content of such restrictions in any proceeding to enforce such restrictions. Employee further

agrees that Sections 4 and 8 shall survive the termination of this Agreement in accordance with their terms. Employee further expressly agrees that Employee has received sufficient and valuable consideration allowing Employer to freely and fully assign its rights under Sections 4 and 8 to the Company or upon a sale or other transaction of any kind relating to the ownership and/or control of Employer, so long as any other remaining obligations to Employee under this Agreement are also assigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2Employee agrees that the enforcement of any remedy under this Agreement will not prevent Employee from earning a livelihood because Employee's past work history and abilities are such that Employee can reasonably expect to find work irrespective of the restrictions contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3Employer has reasonably relied on Employee's covenants, representations and agreements with respect to Sections 4 and 8 in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4Employee acknowledges and agrees that because Employer has and will continue to invest substantial time and expense in developing and protecting its relationships and Confidential Information, any loss of or damage to Employer as a result of a breach or threatened breach of any of the covenants or agreements set forth in Sections 4 and 8 hereof will cause Employer to suffer irreparable harm. Consequently, Employee covenants and agrees that any violation by Employee of Sections 4 and 8 of this Agreement shall entitle Employer to seek immediate injunctive relief in a court of competent jurisdiction without the necessity of posting any bond or waiving any claim for damages. Employee further covenants and agrees that Employee will not contest the enforceability of just an injunction in any state or country in which such an injunction is not, itself, a violation of law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5Employee has the full right, power and authority to enter into this Agreement and perform Employee's duties and obligations hereunder, and the entering into and performance of this Agreement by Employee will not violate or conflict with any

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arrangements or other agreements Employee may have or has with any other person or entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>Termination</u>. Upon termination of employment for any reason, during the Specified Term or thereafter, Employee shall be entitled to a) any accrued base salary and benefits due to Employee for his work through the termination date; b) reimbursement of reasonable business and travel expenses incurred by Employee prior to the termination date, payable in accordance with Employer's customary practices and policies, and c) equity vesting pursuant to the terms of applicable equity award agreements. In addition to the foregoing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1<u>Employer's Good Cause Termination</u>. Employer has the right to terminate this Agreement for "Good Cause" at any time during the Specified Term. Good Cause" shall mean (1) (A) Employee's conviction of, or plea of guilty or nolo contendere to (x) a crime relating to the Company or its affiliates or (y) any felony, (B) Employee is found disqualified or not suitable to hold a casino or other gaming license by a final, non-appealable determination (or if Employee fails to appeal a determination that may be appealed) of an applicable governmental gaming authority, which causes Employee's failure or inability to satisfy gaming licensing requirements set forth in this Agreement, (C) willful misconduct, gross misconduct, or gross negligence in the performance of Employee's duties to the Company (which includes but is not limited to material inattention to Employer's business or material dishonesty) (D) a material breach by Employee of any material written agreement entered into between Employee and the Company, or any material written policy of the Company, including but not limited to the Company's sexual harassment policy, (E) Employee's refusal or intentional failure to follow a lawful and proper direction of the Chief Executive Officer or the Board, or (F) any conduct (whether or not listed in (A) through (E) of this paragraph) by Employee, whether or not in the course of performing the Employee's responsibilities to the Company, that has or is reasonably likely to have a material adverse effect on the business, assets or reputation of the Company; in the cases of each of (C) through (F) above, that, if curable, is not cured by Employee within thirty (30) days following Employee's receipt of written notice given to Employee by the Company; or (2) Employee's failure or inability to satisfy the requirements stated in Section 6 above. Employer further reserves the sole and absolute discretion to determine Employee's failure or inability to satisfy the requirements stated in Section 6 above, which discretion will be exercised lawfully and in good faith. Upon Employer's Good Cause termination, Employer shall have no further liability or obligations whatsoever to Employee under this Agreement except as expressly described at the beginning of this Section 10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2<u>Termination Due to Employee's Death</u>. In the event Employee's employment is terminated as the result of Employee's death during the Specified Term, Employee's beneficiary (as designated by Employee on Employer's benefit records) shall be entitled to receive Employee's salary for a twelve (12) month period (less taxes and withholding), such amount to be paid as a lump sum within thirty (30) days of Employee's termination date. Employer shall also pay any Earned Bonus Amount (as defined below).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3<u>Termination Due to Employee's Disability</u>. In the event that Employee's termination is the result of Employee's "Disability" (defined below) during the Specified Term, Employer shall pay Employee an amount equal to Employee's salary for twelve (12) month period (less taxes and withholding), such amount to be paid as a lump sum within thirty (30) days of Employee's termination date. In addition, Employee shall receive a payment equal to 1.5 times the cost of COBRA coverage for a period of twelve (12) months immediately following separation , payable in a lump sum within thirty (30) days of Employee's termination date (the "<u>COBRA Payment</u>"). Employer shall also pay any Earned Bonus Amount (as defined below). For purposes of this Agreement, and because of Employee's unique position and duties for Employer, "Disability" shall mean Employee's inability to perform the essential functions of Employee's position, with or without a reasonable accommodation, for a period of six (6) consecutive months or for a cumulative period of six (6) months over a twelve (12) month period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4<u>Employer's No Cause Termination of Employee</u>. Employer has the right to terminate Employee's employment for "No Cause" (defined below) in its sole discretion at any time during the Specified Term. A "No Cause" termination of Employee is termination for a reason other than a reason stated in Section 10.1 through 10.3 above. Subject to the conditions set forth below in Section 10.5:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4.1.If Employee is terminated during the Specified Term, Employee shall receive an amount equal to: (i) Employee's annual base salary and (ii) Target Bonus (the "Severance Payment"), less all applicable taxes, payable in twelve (12) monthly installments commencing upon the date that is thirty (30) days after the date of separation; plus any earned but unpaid bonus or incentive due to Employee pursuant to Section 3 of this Agreement, payable in accordance with applicable provisions of this Agreement or the applicable award form to the extent an incentive payment is payable in Restricted Stock Units or another form of equity (including continuing to apply any forfeiture provisions and employee related covenants in the applicable award form). For the avoidance of doubt, an earned bonus includes any bonus or incentive where the performance period has been completed, or applicable milestone(s) have been achieved, and a bonus or incentive has become payable to Employee (an "<u>Earned Bonus Amount</u>"). In addition, Employee shall receive the COBRA Payment.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4.2.If Employee remains employed at-will by Employer after expiration of the Specified Term and is thereafter separated during the Restricted Period for No Cause (assuming for purposes of such defined term that this Agreement remains in effect), employee shall receive a lump sum payment (less all applicable taxes) equal to the Severance Payment, payable upon the date that is thirty (30) days after the date of separation and any Earned Bonus Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4.3.If Employer's No Cause termination of Employee occurs in circumstances that cause Employee to be eligible for compensation and/or benefits under the Amended and Restated Change of Control Policy For Executive Officers adopted on August 16, 2022 (the "COC Policy"), Employee shall, at his election, receive compensation and benefits under either this Agreement or the COC Policy, whichever is more favorable to Employee, and under terms applicable to the controlling document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5<u>Payments Conditioned on Release</u>. Employee's eligibility for the amounts set forth in Sections 10.3, 10.4, and 10.6 shall be expressly subject to, conditioned upon, and in consideration of Employee's execution of a full and final release and non-revocation of all claims of any kind whatsoever (except those that cannot be released as a matter of law) in favor of Employer and the Company, whether such claims are known or unknown, and regardless of type, cause or nature of such claims.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.1 As a further condition to Employer's obligations under Section

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 above, Employee agrees to cooperate with Employer and Company regarding matters on which Employee has worked, on a reasonable basis and at times mutually convenient to both parties. Employee further agrees to fully cooperate with Employer and the Company in any ongoing or future legal matters about which Employee has knowledge or information, or that concern Employee's former position with Employer. To the extent that Employee's cooperation requires more than a de minimis time commitment, Employer and Employee shall agree on a reasonable hourly rate for time and services related to Employee's cooperation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6<u>Employee's Good Cause Termination</u>. Employee may terminate this Agreement during the Specified Term for "Employee's Good Cause." For purposes of this Agreement, Employee's Good Cause shall mean, without Employee's written consent (i) any assignment to Employee of duties that are materially different than those contemplated by the terms of this Agreement, (ii) a decrease to Employee's salary and/or target bonus potential, each as set forth in Section 3, (iii) a materially adverse change in Employee's reporting relationship,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any requirement by Employer for Employee to change his current primary residence as of the date hereof, (v) the failure of Employer to pay Employee any compensation when due, (vi) other material breach of this Agreement by Employer, or (vii) any material and significant limitation on the powers of Employee not contemplated by the

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terms of this Agreement. Employee's Good Cause Termination shall not be effective until Employee has given Employer specific notice identifying the alleged Good Cause and Employer has not cured the circumstances constituting Good Cause within ten (10) business days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6.1 If Employee terminates employment during the Specified Term for Employee's Good Cause, Employee shall receive an amount equal to the

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Severance Payment, less all applicable taxes, payable in twelve (12) monthly installments commencing upon the date that is thirty (30) days after Employee's termination date and in accordance with 10.5 and (b) any Earned Bonus Amount. In addition, Employee shall receive the COBRA Payment. To the extent any Earned Bonus Amount includes a bonus or incentive payable in Restricted Stock Units or another form of equity then the payment of such Earned Bonus Amount shall be pursuant to the terms of the applicable award form (including continuing to apply any forfeiture provisions and employee related covenants in the applicable award forms).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6.2 If Employee remains employed at-will by Employer after expiration of the Specified Term and is thereafter separated during the Restricted Period by Employee for Employee's Good Cause (assuming for purposes of such defined term that this Agreement remains in effect), Employee shall receive a lump sum payment (less all applicable taxes) equal to the Severance Payment, payable upon the date that is thirty (30) days after the date of separation and any Earned Bonus Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6.3 If Employee's Good Cause termination occurs in circumstances that cause Employee to be eligible for compensation and/or benefits under the Amended and Restated Change of Control Policy For Executive Officers adopted on August 16, 2022 (the "COC Policy"), Employee shall, at his election, receive compensation and benefits under either this Agreement or the COC Policy, whichever is more favorable to Employee, and under terms applicable to the controlling document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7<u>Employee's No Cause Termination</u>. Employee may terminate Employee's employment at any time during the Specified Term for "No Cause" after providing Employer at least thirty (30) days advance notice (the "<u>Notice Period'</u>) of such intent to terminate. Employer may elect to terminate Employee prior to the expiration of the Notice Period but must, in that event, keep Employee on its payroll for the duration of the Notice Period and continue to provide related benefits and vesting pursuant to this Agreement, which shall remain in effect for the duration of the Notice Period. A No Cause termination by Employee shall mean a termination by Employee of Employee's employment for any reason other than for Good Cause, as defined above. In the event Employee terminates Employee's employment under this Agreement for No Cause, Employer shall have no further liability or obligations whatsoever to Employee under this Agreement except as expressly described at the beginning of this Section 10.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.8<u>Employer's Option to Make Additional Salary Continuation Payments</u>. In the event Employee is terminated as the result of a layoff (as the term "layoff" is construed under RCW 49.62.020), and in the event the terms of this Agreement do not otherwise provide for Employee to receive compensation equivalent to Employee's base salary at the time of termination in a manner permitting Employer to enforce the terms of Sections 8.1 and/or 8.2 for the restricted periods set forth therein, Employer may, at its sole option, elect to pay Employee compensation equivalent to employee's base salary at the time of termination, less any compensation earned through subsequent employment, during the periods of restriction set forth in Sections 8.1 and/or 8.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.<u>Arbitration</u>. Except as otherwise provided for in this Agreement, any controversy, dispute or claim: (a) arising directly or indirectly out of or relating to this Agreement, or the breach thereof; or, (b) arising out of or relating to the employment of Employee, or the termination thereof, <u>except</u> for claims of Sex Discrimination/Harassment, shall be resolved by binding arbitration pursuant to <u>Exhibit D</u>, which is incorporated as if fully set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.<u>Severability</u>. If any section, provision, paragraph, phrase, word, and/or line (collectively, "Provision") of this Agreement is declared to be unenforceable, then this Agreement will be deemed retroactively modified to the extent necessary to render the otherwise unenforceable Provision, and the rest of the Agreement, valid and enforceable. If a court or arbitrator declines to modify this Agreement as provided herein, the invalidity or unenforceability of any Provision of this Agreement shall not affect the validity or enforceability of the remaining Provisions. This Section 12 does not limit either party's rights to seek damages or such additional relief as may be allowed by law and/or equity in respect to any breach of the enforceable provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.<u>No Waiver of Breach or Remedies</u>. No failure or delay on the part of Employee or Employer in exercising any right, power or remedy hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The remedies herein provided are cumulative and not exclusive of any remedies provided by law.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.<u>Amendment or Modification</u>. No amendment, modification, termination or waiver of any provision of this Agreement shall be effective unless the same shall be in writing and signed by Employee and a duly authorized member of Employer's senior management and be approved by the Committee. No consent to any departure by Employee from any of the terms of this Agreement shall be effective unless the same is signed by a duly authorized member of Employer's senior management and is approved by the Committee. Any such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.<u>Governing Law and Venue</u>. The laws of the State of Washington shall govern the validity, construction and interpretation of this Agreement. Further, venue for any claim brought pursuant to this Agreement and, in accordance with the terms of the Arbitration Agreement incorporated herein, shall reside exclusively in King County, Washington, and each party to this Agreement irrevocably consents and agrees to such venue and to personal jurisdiction in King County, Washington. In the event Employer commences an action for injunctive relief to enforce the obligations set forth in Sections 8.1 through 8.7, the parties expressly agree and consent to venue and personal jurisdiction in the state or federal courts located in King County, Washington.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.<u>Number and Gender</u>. Where the context of this Agreement requires the singular shall mean the plural and vice versa and references to males shall apply equally to females and vice versa.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.<u>Headings</u>. The headings in this Agreement have been included solely for convenience of reference and shall not be considered in the interpretation or construction of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.<u>Assignment.</u> This Agreement is personal to Employee and may not be assigned by Employee. Employee agrees that Employer may assign this Agreement. Without limitation of the foregoing, Employee expressly understands and agrees that Employer's successors, affiliates and assigns may, to the extent that each have also assumed all obligations of Employer under this Agreement, enforce the provisions of Sections 4 and 8 above, and that the consideration recited above for such assignability is sufficient and valuable consideration for Employee's consent to the right of Employer's successors, affiliates and assigns to enforce the provisions of Sections 4 and 8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.<u>Successors and Assigns.</u> This Agreement shall be binding upon and inure to the benefit of Employer's successors and assigns and Employee's heirs and legal successors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.<u>Prior Agreements.</u> This Agreement constitutes the entire agreement between the parties on the subjects described herein and shall supersede and replace any and all other employment agreements that may have been entered into by and between the parties. Any such prior employment agreements shall be of no force and effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.Employee acknowledges that MGM Resorts International is a publicly traded company and agrees that in the event there is any default or alleged default by Employer under the Agreement, or Employee has or may have any claims arising from or relating to the Agreement, Employee shall not commence any action or otherwise seek to impose any liability whatsoever against any person or entity in its capacity as a stockholder of MGM Resorts International ("Stockholder"). Employee further agrees that Employee shall not permit any party claiming through Employee, to assert a claim or impose any liability against any Stockholder (in its capacity as a Stockholder) as to any matter or thing arising out of or relating to the Agreement or any alleged breach or default by Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.<u>Section 409A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.1This Agreement is intended to comply with, or otherwise be exempt from, Section 409A of Internal Revenue Code of 1986, as amended (the "Code") and any regulations and Treasury guidance promulgated thereunder ("Section 409A"). If Employer determines in good faith that any provision of this Agreement would cause Employee to incur an additional tax, penalty, or interest under Section 409A, the Committee and Employee shall use reasonable efforts to reform such provision, if possible, in a mutually agreeable fashion to maintain to the maximum extent practicable the original intent of the applicable provision without violating the provisions of Section 409A or causing the imposition of such additional tax, penalty, or interest under Section 409A. However, the preceding provisions shall not be construed as a guarantee by Employer of any particular tax effect to Employee under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.2"Termination of employment," or words of similar import, as used in this Agreement means, for purposes of any payments under this Agreement that are payments of deferred compensation subject to Section 409A, Employee's "separation from service" as defined in Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.3For purposes of Section 409A, the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.4With respect to any reimbursement of Employee's expenses, or any provision of in-kind benefits to Employee, as specified under this Agreement, such reimbursement of expenses or provision of in-kind benefits shall be subject to the following conditions: (1) the expenses eligible for reimbursement or the amount of in-kind benefits provided in one taxable year shall not affect the expenses eligible for reimbursement or the amount of in-kind benefits provided in any other taxable year, except for any medical reimbursement arrangement providing for the reimbursement of expenses referred to in Section 105(b) of the Code; (2) the reimbursement of an eligible expense shall be made pursuant to Employer's reimbursement policy but no later than the end of the year after the year in which such expense was incurred; and (3) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.5If a payment obligation under this Agreement that constitutes a payment of "deferred compensation" (as defined under Treasury Regulation Section 1.409A-1(b)(1), after giving effect to the exemptions in Treasury Regulation Sections 1.409A-1(b)(3) through (b)(12)) arises on account of Employee's separation from service while Employee is a "specified employee" (as defined under Section 409A), any payment thereof that is scheduled to be paid within six (6) months after such separation from service shall accrue without interest and shall be paid within 15 days after the end of the six-month period beginning on the date of such separation from service or, if earlier, within 15 days following Employee's death.

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and attorney in fact to transfer, vest or confirm Employer's rights and to execute and file any such applications and to do all other lawful acts to further the prosecution and issuance of letters, patents or trademark or copyright registrations with the same legal force as if done by Employee, in all instances in which Employer is unable for any reason to secure Employee's personal signature. Employee shall not be entitled to any compensation or other consideration for any Intellectual Property covered by this provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.<u>Indemnification</u>. Employer agrees that Employee is designated as an Officer of MGM such that Employee will be a beneficiary of the indemnification provisions under MGM's Amended and Restated Bylaws (as may be amended or amended and restated from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.<u>Interpretation; Each Party the Drafter</u>. This Agreement is the product of extensive discussions and negotiations between Employee and Employer. Each of these parties was represented by or had the opportunity to consult with counsel who either participated in the formulation and documentation of, or was afforded the opportunity to review and provide comments on, this Agreement. Accordingly, this Agreement and the provision contained in it shall not be construed or interpreted for or against any party to this Agreement because that party drafted or caused that party's legal representative to draft any of its provisions. In addition, the provisions set forth in Section 8 of this Agreement are intended to comply with the requirements of Chapter 49.62 RCW, and to the maximum extent permitted by the language of this Agreement, Section 8 of this Agreement shall be construed and interpreted in a manner that complies with Chapter 49.62. RCW.

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**IN WITNESS WHEREOF**, Employer and Employee have entered into this Agreement in Las Vegas, Nevada, as of the date first written above.

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| | |
|:---|:---|
| **EMPLOYEE - Gary Fritz** | **EMPLOYEE - Gary Fritz** |
| /s/ Gary Fritz | /s/ Gary Fritz |
| Dated: | 9/16/2025 |
| **EMPLOYER - MGM Resorts Satellite, LLC** | **EMPLOYER - MGM Resorts Satellite, LLC** |
| /s/ William J. Hornbuckle  | /s/ William J. Hornbuckle  |
| William J. Hornbuckle, President | William J. Hornbuckle, President |
| Dated: | 9/16/2025 |

---

## Exhibit 10.3

**Exhibit 10.3**

**(RSU Award -- no performance criteria)**

**MGM RESORTS INTERNATIONAL<br>RESTRICTED STOCK UNITS AGREEMENT**

No. of Restricted Stock Units: ________________

This Agreement (including its Exhibit, the "Agreement") is made by and between MGM Resorts International, a Delaware corporation (the "Company"), and __________ (the "Participant") with an effective date of ________ (the "Effective Date").

**<u>RECITALS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Board of Directors of the Company (the "Board") has adopted the Company's 2022 Omnibus Incentive Plan, as amended (the "Plan"), which provides for the granting of Restricted Stock Units (as that term is defined in Section 1 below) to selected service providers. Capitalized terms used and not defined in this Agreement shall have the same meanings as in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Board believes that the grant of Restricted Stock Units will stimulate the interest of selected employees in, and strengthen their desire to remain with, the Company or a Parent or Subsidiary (as those terms are hereinafter defined).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. The Human Capital and Compensation Committee of the Board (the "Committee") has authorized the grant of Restricted Stock Units to the Participant pursuant to the terms of the Plan and this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. The Committee and the Participant intend that the Plan and this Agreement constitute the entire agreement between the parties hereto with regard to the subject matter hereof and shall supersede any other agreements, representations or understandings (whether oral or written and whether express or implied, and including, without limitation, any employment agreement between the Participant and the Company or any of its affiliates (including, without limitation, any Parent or Subsidiary) whether previously entered into, currently effective or entered into in the future) which relate to the subject matter hereof.

Accordingly, in consideration of the mutual covenants contained herein, the parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Definitions.</u>

&nbsp;&nbsp;&nbsp;&nbsp;1.1 "Business Contacts" means the names, addresses, contact information or any information pertaining to any persons, advertisers, suppliers, vendors, independent contractors, brokers, partners, employees, entities, patrons or customers (excluding Employer's Trade Secrets, which are protected from disclosure in accordance with Section 3.10 below) upon whom or which a Participant: contacted or attempted to contact in any manner, directly or indirectly, or which Employer reasonably anticipated a Participant would contact within six months of a Participant's last day of employment at Employer, or with whom or which a Participant worked or attempted to work during Participant's employment by Employer.

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&nbsp;&nbsp;&nbsp;&nbsp;1.2 "Code" means the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;1.3 "Competitor" means any person, corporation, partnership, limited liability company or other entity which is either directly, indirectly or through an affiliated company, engaged in or proposes to engage in the development, ownership, operation or management of (i) gaming facilities; (ii) convention or meeting facilities; or (iii) one or more hotels if any such hotel is connected in any way, whether physically or by business association, to a gaming establishment and, further, where Competitor's activities are within a 150 mile radius of any location where any of the foregoing facilities, hotels, or venues are, or are proposed to be, owned, operated, managed or developed by Employer.

&nbsp;&nbsp;&nbsp;&nbsp;1.4 "Confidential Information" means all Trade Secrets, Business Contacts, business practices, business procedures, business processes, financial information, contractual relationships, marketing practices and procedures, management policies and procedures, and/or any other information of Employer or otherwise regarding Employer's operations and/or Trade Secrets or those of any member of Employer and all information maintained or entered on any database, document or report set forth on <u>Exhibit B</u> hereto or any other loyalty, hotel, casino or other customer database or system, irrespective of whether such information is used by Participant during Participant's employment by Employer.

&nbsp;&nbsp;&nbsp;&nbsp;1.5 "Current Employment Agreement" means the Participant's employment agreement with the Company or any of its affiliates (including, without limitation, any Parent or Subsidiary) in effect as of the applicable date of determination.

&nbsp;&nbsp;&nbsp;&nbsp;1.6 "Disability" means that the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months or is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of Employer.

&nbsp;&nbsp;&nbsp;&nbsp;1.7 "Employer" means the Company, the Subsidiaries and any Parent and affiliated companies.

&nbsp;&nbsp;&nbsp;&nbsp;1.8 "Employer's Good Cause" shall have the meaning given such term or a comparable term in the Current Employment Agreement; provided that if there is no Current Employment Agreement or if such agreement does not include such term or a comparable term, "Employer's Good Cause" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Participant's failure to abide by Employer's policies and procedures, misconduct, insubordination, inattention to Employer's business, failure to perform the duties required of the Participant up to the standards established by Employer's senior management, or material breach of the Current Employment Agreement, which failure or breach is not cured by the Participant within ten (10) days after written notice thereof from Employer specifying the facts and circumstances of the alleged failure or breach, <u>provided</u>, <u>however</u>, that such notice and opportunity to cure shall not be required if, in the good faith judgment of the Board, such breach is not capable of being cured within ten (10) days;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Participant's failure or inability to apply for and obtain any license, qualification, clearance or other similar approval which Employer or any regulatory authority which has jurisdiction over Employer requests or requires that the Participant obtain;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Employer is directed by any governmental authority in Nevada, Michigan, Mississippi, Illinois, Macau S.A.R., or any other jurisdiction in which Employer is engaged in a gaming business or where Employer has applied to (or during the term of the Participant's employment under the Current Employment Agreement, may apply to) engage in a gaming business to cease business with the Participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Employer determines, in its reasonable judgment, that the Participant was, is or might be involved in, or is about to be involved in, any activity, relationship(s) or circumstance which could or does jeopardize Employer's business, reputation or licenses to engage in the gaming business; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. any of Employer's gaming business licenses are threatened to be, or are, denied, curtailed, suspended or revoked as a result of the Participant's employment by Employer or as a result of the Participant's actions.

&nbsp;&nbsp;&nbsp;&nbsp;1.9 "Fair Market Value" means the closing price of a share of Stock reported on the New York Stock Exchange ("NYSE") or other applicable established stock exchange or over the counter market on the applicable date of determination, or if no closing price was reported on such date, the first trading day immediately preceding the applicable date of determination on which such a closing price was reported. In the event shares of Stock are not publicly traded at the time a determination of their value is required to be made hereunder, the determination of their Fair Market Value shall be made by the Committee in such manner as it deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;1.10 "Parent" means a parent corporation as defined in Section 424(e) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;1.11 "Participant's Good Cause" shall have the meaning given such term or a comparable term in the Current Employment Agreement; provided that if there is no Current Employment Agreement or if such agreement does not include such term or a comparable term, "Participant's Good Cause" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The failure of Employer to pay the Participant any compensation when due; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. A material reduction in the scope of duties or responsibilities of the Participant or any reduction in the Participant's salary.

&nbsp;&nbsp;&nbsp;&nbsp;If a breach constituting Participant's Good Cause occurs, the Participant shall give Employer thirty (30) days' advance written notice specifying the facts and circumstances of the alleged breach. During such thirty (30) day period, Employer may either cure the breach (in which case such notice will be considered withdrawn) or declare that Employer disputes that Participant's Good Cause exists, in which case Participant's Good Cause shall not exist until the dispute is resolved in accordance with the methods for resolving disputes specified in <u>Exhibit A</u> hereto.

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&nbsp;&nbsp;&nbsp;&nbsp;1.12 "Restricted Stock Unit" means an award granted to a Participant pursuant to Article 8 of the Plan, except that no shares of Stock are actually awarded or granted to the Participant on the date of grant.

&nbsp;&nbsp;&nbsp;&nbsp;1.13 "Restrictive Period" means the twelve (12) month period immediately following the Participant's date of termination.

&nbsp;&nbsp;&nbsp;&nbsp;1.14 "Section 409A" means Section 409A of the Code, and the regulations and guidance promulgated thereunder to the extent applicable.

&nbsp;&nbsp;&nbsp;&nbsp;1.15 "Stock" means the Company's common stock, $.01 par value per share.

&nbsp;&nbsp;&nbsp;&nbsp;1.16 "Subsidiary" means a subsidiary corporation of the Company as defined in Section 424(f) of the Code or corporation or other entity, whether domestic or foreign, in which the Company has or obtains a proprietary interest of more than fifty percent (50%) by reason of stock ownership or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;1.17 "Trade Secrets" are defined in a manner consistent with the broadest interpretation of Nevada law. Trade Secrets shall include, without limitation, Confidential Information, formulas, inventions, patterns, compilations, vendor lists, customer lists, contracts, business plans and practices, marketing plans and practices, financial plans and practices, programs, devices, methods, know-hows, techniques or processes, any of which derive economic value, present or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who may or could obtain any economic value from its disclosure or use, including but not limited to the general public.

&nbsp;&nbsp;&nbsp;&nbsp;1.18 "Vesting Period" means the period of time from the date of this Agreement until the last scheduled vesting date described in Section 3.1 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Grant to Participant</u>. The Company hereby grants to the Participant, subject to the terms and conditions of the Plan and this Agreement, an award of <u>________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Restricted Stock Units. Except as otherwise set forth in the Plan or this Agreement, (i) each Restricted Stock Unit represents the right to receive one (1) share of Stock upon vesting of such Restricted Stock Units, (ii) unless and until the Restricted Stock Units have vested in accordance with the terms of this Agreement, the Participant shall not have any right to delivery of the shares of Stock underlying such Restricted Stock Units or any other consideration in respect thereof and (iii) each Restricted Stock Unit that vests shall be paid to the Participant within thirty (30) days following the date that the Restricted Stock Unit vests or the date(s) set forth in Sections 3.1 and 3.2, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Terms and Conditions</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>Vesting Schedule</u>. Subject to Section 3.2, the Restricted Stock Units shall vest on the first anniversary of the Effective Date, subject to the Participant's continued employment with the Company or any Subsidiary or Parent; <u>provided</u>, that any Restricted Stock Units which vest under the schedule set forth in this Section 3.1 shall be paid to the Participant within thirty (30) days following the vesting date.

&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Vesting at Termination</u>. Upon termination of employment with Employer for any reason the unvested portion of the Restricted Stock Units shall be forfeited without any consideration; <u>provided</u>, <u>however</u>, that, (i) upon termination of employment by Employer without Employer's Good Cause or by the Participant with Participant's Good Cause, the Restricted Stock Units that would have become vested (but for such termination) under the schedule determined in Section 3.1 herein during the twelve (12) months from the date of termination of employment shall remain outstanding and be paid on the same schedule determined in Section 3.1 herein, and (ii) upon termination of employment due to the Participant's death or Disability, all unvested Restricted Stock Units shall become immediately vested and paid to the Participant within thirty (30) days following the date of termination. Any continued vesting provided for in the preceding sentence shall immediately cease and unvested Restricted Stock Units shall be forfeited in the event the Participant breaches any post-termination covenant with the Company or its affiliate in an employment agreement or set forth in Section 3.10 below (after taking into account any applicable cure period).

&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Committee Discretion</u>. The Committee, in its discretion, may accelerate the vesting of the balance, or some lesser portion, of the Participant's unvested Restricted Stock Units at any time, subject to the terms of the Plan and this Agreement. If so accelerated, the Restricted Stock Units will be considered as having vested as of the date specified by the Committee or an applicable written agreement but the Committee will have no right to accelerate any payment under this Agreement if such acceleration would cause this Agreement to fail to comply with Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;3.4 <u>Stockholder Rights and Dividend Equivalents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Participant will have no rights as a stockholder with respect to any shares of Stock subject to Restricted Stock Units until the Restricted Stock Units have vested and shares of Stock relating thereto have been issued and recorded on the records of the Company or its transfer agent or registrars.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, each Restricted Stock Unit shall accrue dividend equivalents with respect to dividends that would otherwise be paid on the Stock underlying such Restricted Stock Unit during the period from the date of grant to the date such Stock is delivered. Any such dividend equivalent shall be deemed reinvested in additional full and fractional Restricted Stock Units immediately upon the related dividend's payment date, based on the then-current Fair Market Value, and shall be subject to the same vesting, settlement and other conditions applicable to the Restricted Stock Unit on which such dividend equivalent is paid. Any fractional shares shall be paid in cash upon the vesting of such Restricted Share Units.

&nbsp;&nbsp;&nbsp;&nbsp;3.5 <u>Limits on Transferability</u>. The Restricted Stock Units granted under this Agreement may be transferred solely to a trust in which the Participant or the Participant's spouse control the management of the assets. With respect to Restricted Stock Units, if any, that have been

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transferred to a trust, references in this Agreement to vesting related to such Restricted Stock Units shall be deemed to include such trust. Any transfer of Restricted Stock Units shall be subject to the terms and conditions of the Plan and this Agreement and the transferee shall be subject to the same terms and conditions as if it were the Participant. No interest of the Participant under this Agreement shall be subject to attachment, execution, garnishment, sequestration, the laws of bankruptcy or any other legal or equitable process.

&nbsp;&nbsp;&nbsp;&nbsp;3.6 <u>Adjustments</u>. If there is any change in the Stock by reason of any stock dividend, recapitalization, reorganization, merger, consolidation, split-up, combination or exchange of shares of Stock, or any similar change affecting the Stock the Committee will make appropriate and proportionate adjustments (including relating to the Stock, other securities, cash or other consideration which may be acquired upon vesting of the Restricted Stock Units) that it deems necessary to the number and class of securities subject to the Restricted Stock Units and any other terms of this Agreement. Any adjustment so made shall be final and binding upon the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;3.7 <u>No Right to Continued Performance of Services</u>. The grant of the Restricted Stock Units does not confer upon the Participant any right to continue to be employed by the Company or any of its affiliates (including, without limitation, any Parent or Subsidiary) nor may it interfere in any way with the right of the Company or any of its affiliates (including, without limitation, any Parent or Subsidiary) for which the Participant performs services to terminate the Participant's employment at any time.

&nbsp;&nbsp;&nbsp;&nbsp;3.8 <u>Compliance With Law and Regulations</u>. The grant and vesting of Restricted Stock Units and the obligation of the Company to issue shares of Stock under this Agreement are subject to all applicable federal and state laws, rules and regulations, including those related to disclosure of financial and other information to the Participant and to approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Stock prior to (A) the listing of such shares on any stock exchange on which the Stock may then be listed and (B) the completion of any registration or qualification of such shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable.

&nbsp;&nbsp;&nbsp;&nbsp;3.9 <u>Corporate Transaction</u>. Upon the occurrence of a reorganization, merger, consolidation, recapitalization, or similar transaction, unless otherwise specifically prohibited under applicable laws or by the applicable rules and regulations of any governing governmental agencies or national securities exchanges, the Committee is authorized (but not obligated) to make adjustments in the terms and conditions of the Restricted Stock Units, including without limitation the following (or any combination thereof): (i) continuation or assumption of the Restricted Stock Units by the Company (if it is the surviving company or corporation) or by the surviving company or corporation or its parent; (ii) substitution by the surviving company or corporation or its parent of an award with substantially the same terms for the Restricted Stock Units; (iii) accelerated vesting with respect to the Restricted Stock Units immediately prior to the occurrence of such event and payment to the Participant within thirty (30) days thereafter; and (iv) cancellation of all or any portion of the Restricted Stock Units for fair value (in the form of cash or its equivalent (e.g., by check), other property or any combination thereof) as determined in the sole discretion of the Committee and which value may be zero (if the value of the underlying stock is zero), and payment to the Participant within thirty (30) days thereafter.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 <u>Participant Covenants</u>. The Participant acknowledges that, in the course of performing his or her responsibilities to Employer, the Participant will form relationships and become acquainted with Confidential Information. The Participant further acknowledges that such relationships and the Confidential Information are valuable to Employer, and the restrictions on his or her future employment contained in this Section 3.10, if any, are reasonably necessary in order for Employer to remain competitive in its various businesses. In consideration of the benefits provided under this Agreement (including, but not limited to, the potential vesting continuation or acceleration under Section 3.2 hereof), and in recognition of Employer's heightened need for protection from abuse of relationships formed or Confidential Information garnered during the Participant's employment with Employer, Participant hereby agrees to the following covenants as a condition of receipt of the benefits provided under this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) &nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Competition</u>. During the entire Restrictive Period, the Participant shall not directly or indirectly be employed by, provide consultation or other services to, engage in, participate in or otherwise be connected in any way with any "Competitor" in any capacity that is the same, substantially the same or similar to the position or capacity (irrespective of title or department) as that held at any time during Participant's employment with the Company. During the entire Vesting Period, if the Participant directly or indirectly becomes employed by, provides consultation or other services to, engages in, participates in or otherwise becomes connected in any way with any "Competitor", the continued vesting provided for under Section 3.2 of this Agreement will immediately terminate and all of such Participant's then outstanding Restricted Stock Units will immediately terminate and be forfeited as of the date Participant becomes employed by or otherwise associated in any way with a Competitor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Solicitation</u>. In addition, during the Restrictive Period under this Section 3.10: (A) the Participant will not call on, solicit, induce to leave and/or take away, or attempt to call on, solicit, induce to leave and/or take away, any Business Contacts of Employer, and (B) the Participant will not approach, solicit, contract with or hire any current Business Contacts of Employer or entice any Business Contact to cease his/her/its relationship with Employer or end his/her employment with Employer, without the prior written consent of Company, in each and every instance, such consent to be within Company's sole and absolute discretion. During the entire Vesting Period, if the Participant (x) calls on, solicits, induces to leave and/or takes away, or attempts to call on, solicit, induce to leave and/or take away, any Business Contacts of Employer or (y) approaches, solicits, contracts with or hires any current Business Contacts of Employer or entices any Business Contact to cease his/her/its relationship with Employer or end his/her employment with Employer, without the prior written consent of Company, the continued vesting provided for under Section 3.2 of this Agreement will immediately terminate and all of such Participant's then outstanding Restricted Stock Units will immediately terminate and be forfeited as of the date of such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Disclosure and Confidentiality</u>. The Participant will not make known to any Competitor and/or any member, manager, officer, director, employee or agent of a Competitor, the Business Contacts of Employer. The Participant further covenants and agrees that at all times during Participant's employment with the Company, and at all times thereafter, Participant shall not, without the prior written consent of the Company's Chief Executive Officer, Chief Operating Officer or General Counsel in each and every instance—such consent to be within the Company's sole and absolute discretion—use, disclose or make known to any person, entity or other

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third party outside of Employer any Confidential Information belonging to Employer or its individual members. Notwithstanding the foregoing, the provisions of this paragraph shall not apply to Confidential Information: (A) that is required to be disclosed by law or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) in any litigation, arbitration, mediation or legislative hearing, with jurisdiction to order Participant to disclose or make accessible any information, provided, however, that Participant provides Company with ten (10) days' advance written notice of such disclosure to enable Company to seek a protective order or other relief to protect the confidentiality of such Confidential Information; (B) that becomes generally known to the public or within the relevant trade or industry other than due to Participant's or any third party's violation of this Section 3.10 or other obligation of confidentiality; or (C) that becomes available to Participant on a non-confidential basis from a source that is legally entitled to disclose it to Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;<u>Forfeiture</u>. It is a condition to the receipt of any benefits under this Agreement that, in the event of any breach of the Participant's obligations under this Section 3.10, the continued vesting provided for under Section 3.2 of this Agreement will immediately terminate and all of the Participant's then outstanding Restricted Stock Units will immediately terminate and be forfeited as of the date the Company determines that such a breach has occurred.

Nothing contained in this Section 3.10 limits or otherwise prohibits the Participant from filing a charge or complaint with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission ("Government Agencies"). Further, this Section 3.10 does not limit the Participant's ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information (subject to the paragraph below), without notice to the Company. This Section 3.10 does not limit the Participant's right to receive an award for information provided to any Government Agencies.

Notwithstanding anything to the contrary in this Section 3.10 or otherwise, pursuant to the Defend Trade Secrets Act of 2016, the Company hereby advises the Participant as follows: (A) an individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (i) is made (a) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (b) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; and (B) an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (i) files any document containing the trade secret under seal; and (ii) does not disclose the trade secret, except pursuant to court order.

The Participant agrees to notify the Company immediately of any other persons or entities for whom he or she works or provide services within the Vesting Period (excluding occasional consulting services for a non-Competitor, and similar activities), and to provide such information as the Company may reasonably request regarding such work or services during the Vesting Period within a reasonable time following such request. If the Participant fails to provide such notice or information, which failure is not cured by Participant within thirty (30) days after written notice thereof from the

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Company, any right to continued vesting under Section 3.2 shall immediately cease. The Participant further agrees to promptly notify the Company, within the Vesting Period, of any contacts made by any Competitor which concern or relate to an offer to employ the Participant or for the Participant to provide consulting or other services during the Vesting Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Investment Representation</u>. The Participant must, within five (5) days of demand by the Company furnish the Company an agreement satisfactory to the Company in which the Participant represents that the shares of Stock acquired upon vesting are being acquired for investment. The Company will have the right, at its election, to place legends on the certificates representing the shares of Stock so being issued with respect to limitations on transferability imposed by federal and/or state laws, and the Company will have the right to issue "stop transfer" instructions to its transfer agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Participant Bound by Plan</u>. The Participant hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof as amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Withholding</u>. The Company or any Parent or Subsidiary shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of the Restarted Stock Units awarded by this Agreement, their grant, vesting or otherwise, and to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such withholding taxes, which may include, without limitation, reducing the number of shares otherwise distributable to the Participant by the number of shares of Stock whose Fair Market Value is equal to the amount of tax required to be withheld by the Company or a Parent or Subsidiary as a result of the vesting or settlement or otherwise of the Restricted Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Notices</u>. Any notice hereunder to the Company must be addressed to: MGM Resorts International, 3600 Las Vegas Boulevard South, Las Vegas, Nevada 89109, Attention: 2022 Omnibus Incentive Plan Administrator, and any notice hereunder to the Participant must be addressed to the Participant at the Participant's last address on the records of the Company, subject to the right of either party to designate at any time hereafter in writing some other address. Any notice shall be deemed to have been duly given on personal delivery or three (3) days after being sent in a properly sealed envelope, addressed as set forth above, and deposited (with first class postage prepaid) in the United States mail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Entire Agreement</u>. This Agreement and the Plan and the Participant's Employment Agreement constitute the entire agreement between the parties hereto with regard to the subject matter hereof and shall supersede any other conflicting agreements, representations or understandings (whether oral or written and whether express or implied, whether previously entered into, currently effective or entered into in the future that includes terms and conditions regarding equity awards) which relate to the subject matter hereof.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Waiver</u>. No waiver of any breach or condition of this Agreement shall be deemed a waiver of any other or subsequent breach or condition whether of like or different nature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Participant Undertaking</u>. The Participant agrees to take whatever additional action and execute whatever additional documents the Company may deem necessary or advisable to carry out or effect one or more of the obligations or restrictions imposed on either the Participant or the Restricted Stock Units pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Successors and Assigns</u>. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and upon the Participant, the Participant's assigns and the legal representatives, heirs and legatees of the Participant's estate, whether or not any such person shall have become a party to this Agreement and agreed in writing to be joined herein and be bound by the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Governing Law</u>. The parties hereto agree that the validity, construction and interpretation of this Agreement shall be governed by the laws of the state of Nevada.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Arbitration</u>. Except as otherwise provided in <u>Exhibit A</u> to this Agreement (which constitutes a material provision of this Agreement), disputes relating to this Agreement shall be resolved by arbitration pursuant to <u>Exhibit A</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Clawback Policy</u>. By accepting this award the Participant hereby agrees that this award and any other compensation paid or payable to the Participant is subject to Company's recoupment, recovery or clawback policy or policies as in effect from time to time, and that this award shall be considered a bonus for purposes of the Policy on Recovery of Incentive Compensation in Event of Financial Restatement. In addition, the Participant agrees that such policy or policies may be amended from time to time by the Board in a manner designed to comply with applicable law and/or stock exchange listing requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Amendment</u>. This Agreement may not be altered, modified, or amended except by written instrument signed by the parties hereto; <u>provided</u> that the Company may alter, modify or amend this Agreement unilaterally if such change is not materially adverse to the Participant or to cause this Agreement to comply with applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Severability</u>. The provisions of this Agreement are severable and if any portion of this Agreement is declared contrary to any law, regulation or is otherwise invalid, in whole or in part, the remaining provisions of this Agreement shall nevertheless be binding and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. <u>Execution</u>. Each party agrees that an electronic, facsimile or digital signature or an online acceptance or acknowledgment will be accorded the full legal force and effect of a handwritten signature under Nevada law. This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. <u>Variation of Pronouns</u>. All pronouns and any variations thereof contained herein shall be deemed to refer to masculine, feminine, neuter, singular or plural, as the identity of the person or persons may require.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. <u>Tax Treatment; Section 409A</u>. The Participant shall be responsible for all taxes with respect to the Restricted Stock Units. Notwithstanding the forgoing or any provision of the Plan or this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;19.1 The parties agree that this Agreement shall be interpreted to comply with or be exempt from Section 409A, and all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A. If any provision of this Agreement or the Plan contravenes Section 409A or could cause the Participant to incur any tax, interest or penalties under Section 409A, the Committee may, in its sole discretion and without the Participant's consent, modify such provision in order to comply with the requirements of Section 409A or to satisfy the conditions of any exception therefrom, or otherwise to avoid the imposition of the additional income tax and interest under Section 409A, while maintaining, to the maximum extent practicable, the original intent and economic benefit to the Participant, without materially increasing the cost to the Company, of the applicable provision. However, the Company makes no guarantee regarding the tax treatment of the Restricted Stock Units and none of the Company, its Parent, Subsidiaries or affiliates, nor any of their employees or representatives shall have any liability to the Participant with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;19.2 A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits considered "nonqualified deferred compensation" under Section 409A upon or following a termination of employment unless such termination is also a "separation from service" within the meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a "termination," "termination of employment" or like terms shall mean "separation from service." If the Participant is deemed on the date of termination to be a "specified employee" within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered nonqualified deferred compensation under Section 409A payable on account of a "separation from service," such payment or benefit shall be made or provided at the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of such "separation from service" of the Participant, and (ii) the date of the Participant's death (the "<u>Delay Period</u>"). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 19.2 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed on the first business day following the expiration of the Delay Period to the Participant in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein.

&nbsp;&nbsp;&nbsp;&nbsp;19.3 For purposes of Section 409A, the Participant's right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (<u>e.g.</u>, "payment shall be made within thirty (30) days

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following the date of termination"), the actual date of payment within the specified period shall be within the sole discretion of the Company.

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IN WITNESS WHEREOF, the parties hereto have executed this Restricted Stock Units Agreement as of the date first written above.

MGM RESORTS INTERNATIONAL

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PARTICIPANT

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