Document:

<PAGE>

                                                               EXHIBIT 10.3(13)

[MGM MIRAGE LOGO]
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
MASTER PLAN DOCUMENT
================================================================================

                            EFFECTIVE JANUARY 1, 2001

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                            PAGE
<S>            <C>                                                                                          <C>
PURPOSE        ...............................................................................................1

ARTICLE 1      DEFINITIONS....................................................................................1

ARTICLE 2      SELECTION, ENROLLMENT, ELIGIBILITY.............................................................6

      2.1      SELECTION BY COMMITTEE.........................................................................6
      2.2      ENROLLMENT REQUIREMENTS........................................................................6
      2.3      ELIGIBILITY; COMMENCEMENT OF PARTICIPATION.....................................................6
      2.4      TERMINATION OF PARTICIPATION AND/OR CONTRIBUTIONS..............................................7

ARTICLE 3      COMPANY CONTRIBUTION/CREDITING/TAXES...........................................................7

      3.1      ANNUAL COMPANY CONTRIBUTION AMOUNT.............................................................7
      3.2      VESTING........................................................................................8
      3.3      CREDITING/DEBITING OF ACCOUNT BALANCE.........................................................10
      3.4      FICA AND OTHER TAXES..........................................................................11

ARTICLE 4      UNFORESEEABLE FINANCIAL EMERGENCIES...........................................................12

      4.1      WITHDRAWAL PAYOUT FOR UNFORESEEABLE FINANCIAL EMERGENCIES.....................................12

ARTICLE 5      RETIREMENT BENEFIT............................................................................12

      5.1      RETIREMENT BENEFIT............................................................................12
      5.2      PAYMENT OF RETIREMENT BENEFIT.................................................................12
      5.3      DEATH PRIOR TO COMPLETION OF RETIREMENT BENEFIT...............................................13

ARTICLE 6      PRE-RETIREMENT SURVIVOR BENEFIT...............................................................13

      6.1      PRE-RETIREMENT SURVIVOR BENEFIT...............................................................13
      6.2      PAYMENT OF PRE-RETIREMENT SURVIVOR BENEFIT....................................................13

ARTICLE 7      TERMINATION BENEFIT...........................................................................14

      7.1      TERMINATION BENEFIT...........................................................................14
      7.2      PAYMENT OF TERMINATION BENEFIT................................................................14
      7.3      DEATH PRIOR TO COMPLETION OF RETIREMENT BENEFIT...............................................14

ARTICLE 8      DISABILITY BENEFIT............................................................................14

      8.1      CONTINUED ELIGIBILITY; DISABILITY BENEFIT.....................................................14

ARTICLE 9      BENEFICIARY DESIGNATION.......................................................................15
</TABLE>

--------------------------------------------------------------------------------

                                       -i-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================
<TABLE>
<S>            <C>                                                                                          <C>
      9.1      BENEFICIARY...................................................................................15
      9.2      BENEFICIARY DESIGNATION; CHANGE; SPOUSAL CONSENT..............................................15
      9.3      ACKNOWLEDGEMENT...............................................................................15
      9.4      NO BENEFICIARY DESIGNATION....................................................................15
      9.5      DOUBT AS TO BENEFICIARY.......................................................................15
      9.6      DISCHARGE OF OBLIGATIONS......................................................................15

ARTICLE 10     LEAVE OF ABSENCE..............................................................................16

      10.1     PAID LEAVE OF ABSENCE.........................................................................16
      10.2     UNPAID LEAVE OF ABSENCE.......................................................................16

ARTICLE 11     TERMINATION, AMENDMENT OR MODIFICATION........................................................16

      11.1     TERMINATION...................................................................................16
      11.2     AMENDMENT.....................................................................................16
      11.3     PLAN AGREEMENT................................................................................17
      11.4     EFFECT OF PAYMENT.............................................................................17

ARTICLE 12     ADMINISTRATION................................................................................17

      12.1     COMMITTEE DUTIES..............................................................................17
      12.2     AGENTS........................................................................................17
      12.3     BINDING EFFECT OF DECISIONS...................................................................17
      12.4     INDEMNITY OF COMMITTEE........................................................................18
      12.5     EMPLOYER INFORMATION..........................................................................18

ARTICLE 13     OTHER BENEFITS AND AGREEMENTS.................................................................18

      13.1     COORDINATION WITH OTHER BENEFITS..............................................................18

ARTICLE 14     CLAIMS PROCEDURES.............................................................................18

      14.1     PRESENTATION OF CLAIM.........................................................................18
      14.2     NOTIFICATION OF DECISION......................................................................18
      14.3     REVIEW OF A DENIED CLAIM......................................................................19
      14.4     DECISION ON REVIEW............................................................................19
      14.5     LEGAL ACTION..................................................................................19

ARTICLE 15     TRUST.........................................................................................20

      15.1     ESTABLISHMENT OF THE TRUST....................................................................20
      15.2     INTERRELATIONSHIP OF THE PLAN AND THE TRUST...................................................20
      15.3     DISTRIBUTIONS FROM THE TRUST..................................................................20
</TABLE>

--------------------------------------------------------------------------------

                                      -ii-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================
<TABLE>
<S>            <C>                                                                                          <C>
      15.4     INVESTMENT OF TRUST ASSETS....................................................................20
      15.5     NO CLAIM ON TRUST ASSETS......................................................................20

ARTICLE 16     MISCELLANEOUS.................................................................................21

      16.1     STATUS OF PLAN................................................................................21
      16.2     UNSECURED GENERAL CREDITOR....................................................................21
      16.3     EMPLOYER'S LIABILITY..........................................................................21
      16.4     NONASSIGNABILITY..............................................................................21
      16.5     NOT A CONTRACT OF EMPLOYMENT..................................................................21
      16.6     FURNISHING INFORMATION........................................................................22
      16.7     TERMS.........................................................................................22
      16.8     CAPTIONS......................................................................................22
      16.9     GOVERNING LAW.................................................................................22
      16.10    NOTICE........................................................................................22
      16.11    SUCCESSORS....................................................................................22
      16.12    SPOUSE'S INTEREST.............................................................................22
      16.13    VALIDITY......................................................................................22
      16.14    INCOMPETENT...................................................................................22
      16.15    COURT ORDER...................................................................................23
      16.16    DISTRIBUTION IN THE EVENT OF TAXATION.........................................................23
      16.17    LEGAL FEES TO ENFORCE RIGHTS AFTER CHANGE IN CONTROL..........................................23
</TABLE>

--------------------------------------------------------------------------------

                                     -iii-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

                                   MGM MIRAGE
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
                            Effective January 1, 2001

                                     PURPOSE

         The purpose of this Plan is to provide specified benefits to a select
group of management and highly compensated Employees who contribute materially
to the continued growth, development and future business success of MGM MIRAGE,
a Delaware corporation, and its subsidiaries that sponsor this Plan. This Plan
shall be unfunded for tax purposes and for purposes of Title I of ERISA.

                                    ARTICLE 1
                                   DEFINITIONS

     For purposes of this Plan, unless otherwise clearly apparent from the
context, the following phrases or terms shall have the following indicated
meanings:

1.1  "Account Balance" shall mean the sum of (a) and (b) less the sum of (c) and
     (d):

     (a)  The sum of the Participant's Annual Company Contribution Amounts.

     (b)  Amounts credited or debited in accordance with all the applicable
          crediting provisions of this Plan that relate to the Participant's
          Account Balance.

     (c)  Any forfeitures under Section 3.2.

     (d)  All distributions made to the Participant or his or her Beneficiary
          pursuant to this Plan. The Account Balance shall be a bookkeeping
          entry only and shall be utilized solely as a device for the
          measurement and determination of the amounts to be paid to a
          Participant, or his or her designated Beneficiary, pursuant to this
          Plan.

1.2  "Annual Company Contribution Amount" shall mean, for any one Plan Year, the
     amount determined in accordance with Section 3.1.

1.3  "Beneficiary" shall mean one or more persons, trusts, estates or other
     entities, designated in accordance with Article 9, that are entitled to
     receive benefits under this Plan upon the death of a Participant or the
     death of a predecessor Beneficiary receiving benefits under the Plan.

1.4  "Beneficiary Designation Form" shall mean the form established from time to
     time by the Committee that a Participant completes, signs and returns to
     the Committee to designate one or more Beneficiaries.

1.5  "Board" shall mean the board of directors of the Company.

1.6  "Change in Control" shall mean the first to occur of any of the following
     events:

     (a)  Any "person" or "group" of persons (as such terms are used in Section
          13 and 14(d)(2) of the Securities Exchange Act of 1934, as amended
          ("Exchange Act")), other than Tracinda Corporation, Kirk Kerkorian,
          members of the immediate family of Kirk Kerkorian, the

--------------------------------------------------------------------------------

                                      -1-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

          heirs and legatees of Kirk Kerkorian and trusts or other entities for
          the benefit of such persons or affiliates of such persons (as such
          term "affiliates" is defined in the rules promulgated by the
          Securities and Exchange Commission), becomes the beneficial owner (as
          that term is used in Section 13(d) of the Exchange Act), directly or
          indirectly, of fifty percent (50%) or more of the Company's capital
          stock entitled to vote generally in the election of directors. (For
          the avoidance of doubt, as of the date of the adoption of this Plan,
          Tracinda Corporation and its sole shareholder, Kirk Kerkorian, are the
          beneficial owners of in excess of fifty percent (50%) of the Company's
          capital stock);

     (b)  At any time, individuals who, at the date of the adoption of this
          Plan, constitute the Board, and any new director (other than a
          director designated by a person who has entered into an agreement with
          the Company to effect a transaction described in clause (a), (c), (d)
          or (e) of this Section 1.6) whose election by the Board or nomination
          for election by the Company's shareholders was approved by a majority
          vote of either (1) the directors then still in office who either were
          directors at the beginning of the period or whose election or
          nomination for election was previously so approved, or (2) the members
          of the Company's Executive Committee then still in office who either
          were members at the beginning of the period or whose election or
          nomination for election to the Executive Committee was previously so
          approved by the directors or the Executive Committee, cease for any
          reason to constitute at least a majority of the Board;

     (c)  Any consolidation or merger of the Company, other than a consolidation
          or merger of the Company in which the holders of the common stock of
          the Company immediately prior to the consolidation or merger hold more
          than fifty percent (50%) of the common stock of the surviving
          corporation immediately after the consolidation or merger;

     (d)  Any liquidation or dissolution of the Company; or

     (e)  The sale or transfer of all or substantially all of the assets of the
          Company to parties that are not within a "controlled group of
          corporations" (as defined in Code Section 1563) in which the Company
          is a member.

1.7  "Claimant" shall have the meaning set forth in Section 14.1.

1.8  "Code" shall mean the Internal Revenue Code of 1986, as it may be amended
     from time to time.

1.9  "Committee" shall mean the committee described in Article 12.

1.10 "Company" shall mean MGM MIRAGE, a Delaware corporation, and any successor
     to all or substantially all of the Company's assets or business.

1.11 "Compensation" shall mean the Participant's cash base salary relating to
     services performed during any calendar year, whether or not paid in such
     calendar year or included on the Federal Income Tax Form W-2 for such
     calendar year, excluding bonuses and incentive payments, fringe benefits,
     stock options, relocation expenses, non-monetary awards, automobile and
     other allowances paid to a Participant for employment services rendered
     (whether or not such allowances are included in the Employee's gross
     income). Compensation shall be calculated

--------------------------------------------------------------------------------

                                      -2-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     before reduction for compensation voluntarily deferred or contributed by
     the Participant pursuant to all qualified or non-qualified plans of any
     Employer and shall be calculated to include amounts not otherwise included
     in the Participant's gross income under Code Section 125, 402(e)(3),
     402(h), or 403(b) pursuant to plans established by any Employer; provided,
     however, that all such amounts will be included in compensation only to the
     extent that, had there been no such plan, the amount would have been
     payable in cash to the Employee.

1.12 "Deduction Limitation" shall mean the following described limitation on a
     benefit that may otherwise be distributable pursuant to the provisions of
     this Plan. Except as otherwise provided, this limitation shall be applied
     to all distributions that are "subject to the Deduction Limitation" under
     this Plan. If an Employer determines in good faith prior to a Change in
     Control that there is a reasonable likelihood that any compensation paid to
     a Participant for a taxable year of the Employer would not be deductible by
     the Employer solely by reason of the limitation under Code Section 162(m),
     then to the extent deemed necessary by the Employer to ensure that the
     entire amount of any distribution to the Participant pursuant to this Plan
     prior to the Change in Control is deductible, the Employer may defer all or
     any portion of a distribution under this Plan. Any amounts deferred
     pursuant to this limitation shall continue to be credited/debited with
     additional amounts in accordance with Section 3.3, even if such amount is
     being paid out in installments. The amounts so deferred and amounts
     credited thereon shall be distributed to the Participant or his or her
     Beneficiary (in the event of the Participant's death) at the earliest
     possible date, as determined by the Employer in good faith, on which the
     deductibility of compensation paid or payable to the Participant for the
     taxable year of the Employer during which the distribution is made will not
     be limited by Section 162(m).

1.13 "Disability" shall mean incapacity for medical reasons certified by a
     licensed physician that precludes a Participant from performing the
     essential functions of the Participant's duties of employment for a
     substantially consecutive period of six months or more, as such disability
     is determined by the Committee in its sole discretion.

1.14 "Disability Benefit" shall mean the benefit set forth in Article 8.

1.15 "Disclosure of Confidential Information" shall mean, for purposes of this
     Plan, a Participant's willful disclosure or use of any "Confidential
     Information" (as defined below) (except (i) in connection with regularly
     assigned duties for any Employer, (ii) as consented to in writing by any
     Employer or (iii) under legal compulsion) at any time during or following
     the term of employment, directly or indirectly, for any purpose whatsoever,
     whether or not such Confidential Information was acquired while the
     Participant was engaged in the Employers' affairs and regardless of by whom
     such Confidential Information was generated, either by the Participant or
     others in the employ of the Employers, or outside the Employers. For
     purposes of this Plan, "Confidential Information" shall mean confidential
     information, not generally known to the public and which was not already in
     the rightful possession of the person to whom it is disclosed, of a special
     and unique nature and value pertaining to the business of the Employers and
     relating to such matters as, without limitation, the Employers' patents,
     copyrights, employee data, proprietary information, trade secrets,
     inventions, software, systems, procedures, manuals,

--------------------------------------------------------------------------------

                                      -3-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     processes, applications, business practices and agreements, financial
     information, research and development, marketing strategies, know-how and
     lists of customers (which are deemed for all purposes confidential and
     proprietary).

1.16 "Election Form" shall mean the form established from time to time by the
     Committee that a Participant completes, signs and returns to the Committee
     to make an election under the Plan.

1.17 "Employee" shall mean a person who is an employee of any Employer.

1.18 "Employer(s)" shall mean the Company and/or any of its subsidiaries (now in
     existence or hereafter formed or acquired) that have been selected by the
     Board to participate in the Plan and have adopted the Plan as a sponsor.

1.19 "ERISA" shall mean the Employee Retirement Income Security Act of 1974, as
     it may be amended from time to time.

1.20 "Months of Continuous Service" shall mean, subject to the next sentence,
     the total number of continuous full calendar months that a Participant has
     been employed by one or more Employers (any partial calendar month of
     employment shall not be counted). Despite the foregoing, any employment
     prior to January 1, 1994, with one or more Employers shall not be taken
     into account for purposes of calculating Months of Continuous Service.
     Further, any Termination of Employment before Retirement, death or
     Disability and a subsequent re-employment with any Employer shall cause the
     calculation of Months of Continuous Service to begin again based on the
     date of re-employment, and service prior to such re-employment shall be
     disregarded. Notwithstanding the immediately previous sentence, the
     Committee, in its sole discretion, may allow Months of Continuous Service
     prior to a Termination of Employment to be counted after a re-employment.
     During any period of Disability or unpaid leave of absence, a Participant
     shall not be credited with additional Months of Continuous Service.

1.21 "Months of Plan Participation" shall mean the total number of continuous
     full months a Participant has been a Participant in the Plan, starting with
     his or her Plan Entry Date.

1.22 "Participant" shall mean any Employee (i) who is selected to participate in
     the Plan, (ii) who elects to participate in the Plan, (iii) who signs a
     Plan Agreement, an Election Form and a Beneficiary Designation Form, (iv)
     whose signed Plan Agreement, Election Form and Beneficiary Designation Form
     are accepted by the Committee, (v) who commences participation in the Plan,
     and (vi) whose Plan Agreement has not terminated. A spouse or former spouse
     of a Participant, as such, shall not be treated as a Participant in the
     Plan or have an account balance under the Plan, even if he or she has an
     interest in the Participant's benefits under the Plan in accordance with
     Article 5 or 6 of the Plan, or as a result of applicable law or property
     settlements resulting from legal separation or divorce.

1.23 "Plan" shall mean the Company's Supplemental Executive Retirement Plan,
     which shall be evidenced by this instrument and by each Plan Agreement, as
     they may be amended from time to time.

--------------------------------------------------------------------------------

                                      -4-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

1.24 "Plan Agreement" shall mean a written agreement, as may be amended from
     time to time, which is entered into by and between an Employer and a
     Participant. Each Plan Agreement executed by a Participant and the
     Participant's Employer shall provide for the entire benefit to which such
     Participant is entitled under the Plan; should there be more than one Plan
     Agreement, the Plan Agreement bearing the latest date of acceptance by the
     Employer shall supersede all previous Plan Agreements in their entirety and
     shall govern such entitlement. The terms of any Plan Agreement may be
     different for any Participant, and any Plan Agreement may provide
     additional benefits not set forth in the Plan or limit the benefits
     otherwise provided under the Plan; provided, however, that any such
     additional benefits or benefit limitations must be agreed to by both the
     Employer and the Participant.

1.25 "Plan Entry Date" shall mean the date on which a Participant first
     commences participation in the Plan, as determined by the Committee in its
     sole discretion.

1.26 "Plan Year" shall mean, for the first Plan Year, a period beginning on the
     effective date of this Plan and ending on December 31 of the calendar year.
     For each subsequent Plan Year, a Plan Year shall mean a period beginning on
     January 1 of each calendar year and continuing through December 31 of such
     calendar year.

1.27 "Pre-Retirement Survivor Benefit" shall mean the benefit set forth in
     Article 6.

1.28 "Quarterly Installment Method" shall mean quarterly installment payments
     over the number of quarters selected by the Participant in accordance with
     this Plan or as specified in the Plan, calculated as follows: the vested
     Account Balance of the Participant shall be calculated as of the close of
     business on the last business day of the calendar quarter in which the
     Participant becomes entitled to a quarterly installment payment under this
     Plan. The quarterly installment shall be calculated by multiplying this
     balance by a fraction, the numerator of which is one, and the denominator
     of which is the remaining number of quarterly payments due the Participant.
     By way of example, if the Participant elects 40 quarters, the first payment
     shall be 1/40 of the vested Account Balance, calculated as described in
     this definition. For the following calendar quarter, the payment shall be
     1/39 of the vested Account Balance, calculated as described in this
     definition.

1.29 "Reasonable Cause" shall mean a voluntary termination of employment by the
     Participant following: (i) any action by the Participant's Employer which
     results in a material diminution in the Participant's position, authority,
     duties or responsibilities to the Employer, including for this purpose any
     change in the Participant's employment location that is more than 60 miles
     from his or her location at the time of any Change in Control, or (ii) any
     reduction in the Participant's compensation not agreed to by the
     Participant; provided that, in either case, an isolated, insubstantial, and
     inadvertent failure or action not taken in bad faith and which is promptly
     remedied after notice by the Participant to the Participant's Employer
     shall not be deemed to be "Reasonable Cause".

1.30 "Retirement", "Retire(s)" or "Retired" shall mean severance from employment
     from all Employers for any reason other than an authorized leave of
     absence, death or Disability on or

--------------------------------------------------------------------------------

                                      -5-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     after the attainment of (i) age sixty-five (65) or (ii) age fifty-five (55)
     with one hundred twenty (120) Months of Continuous Service.

1.31 "Retirement Benefit" shall mean the benefit set forth in Article 5.

1.32 "Termination Benefit" shall mean the benefit set forth in Article 7.

1.33 "Termination for Cause" shall mean, for purposes of this Plan, that the
     Participant's Employers, acting in good faith and based upon the
     information then known to them, after due inquiry, terminate the
     Participant's employment with all Employers because the Participant (i) has
     been convicted of a felony or other crime involving moral turpitude, (ii)
     has acted or failed to act in connection with his or her employment in such
     manner as would constitute gross negligence or willful misconduct, (iii)
     has continued and habitual use of narcotics or alcohol that materially
     impairs the Participant's performance of his or her employment duties or
     (iv) has otherwise acted or failed to act in a manner which constitutes
     grounds for termination for cause (or the equivalent) as defined in any
     written employment agreement between the Participant and an Employer (other
     than a Participant's death or Disability).

1.34 "Termination of Employment" shall mean the severing of employment with all
     Employers, voluntarily or involuntarily, for any reason other than
     Retirement, Disability, death or an authorized leave of absence.

1.35 "Trust" shall mean one or more trusts established pursuant to Section 15.1.

1.36 "Unforeseeable Financial Emergency" shall mean an unanticipated emergency
     that is caused by an event beyond the control of the Participant that would
     result in severe financial hardship to the Participant resulting from (i) a
     sudden and unexpected illness or accident of the Participant or a dependent
     of the Participant, (ii) a loss of the Participant's property due to
     casualty, or (iii) such other extraordinary and unforeseeable circumstances
     arising as a result of events beyond the control of the Participant, all as
     determined in the sole discretion of the Committee.

                                    ARTICLE 2
                       SELECTION, ENROLLMENT, ELIGIBILITY

2.1  SELECTION BY COMMITTEE. Participation in the Plan shall be limited to a
     select group of management and highly compensated Employees, as determined
     by the Committee in its sole discretion. From that group, the Committee
     shall select, in its sole discretion, Employees to participate in the Plan.

2.2  ENROLLMENT REQUIREMENTS. As a condition to participation, each selected
     Employee shall complete, execute and return to the Committee a Plan
     Agreement, an Election Form and a Beneficiary Designation Form. In
     addition, the Committee shall establish from time to time such other
     enrollment requirements as it determines in its sole discretion are
     necessary.

2.3  ELIGIBILITY; COMMENCEMENT OF PARTICIPATION. Provided an Employee selected
     to participate in the Plan has met all enrollment requirements set forth in
     this Plan and required by the

--------------------------------------------------------------------------------

                                      -6-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     Committee, including returning all required documents to the Committee,
     that Employee shall commence participation in the Plan as of the first day
     of the calendar quarter following the calendar quarter in which he or she
     completes all enrollment requirements (which may occur prior to the
     effective date of this Plan).

2.4  TERMINATION OF PARTICIPATION AND/OR CONTRIBUTIONS. If the Committee
     determines in good faith that a Participant no longer qualifies as a member
     of a select group of management or highly compensated employees, as
     membership in such group is determined in accordance with Sections 201(2),
     301(a)(3) and 401(a)(1) of ERISA, the Committee shall have the right, in
     its sole discretion, to (i) discontinue making any additional contributions
     to the Plan for and on behalf of that Participant, and/or (ii) immediately
     distribute the Participant's then vested Account Balance as a Termination
     Benefit and terminate the Participant's participation in the Plan. The
     payment of any amount under this Section 2.4 shall be subject to the
     Deduction Limitation.

                                    ARTICLE 3
                      COMPANY CONTRIBUTION/CREDITING/TAXES

3.1  ANNUAL COMPANY CONTRIBUTION AMOUNT. For a Participant, the Annual Company
     Contribution Amount shall be calculated for each Plan Year in the following
     manner:

     (a)  The Participant's projected Months of Continuous Service until age 65
          (which shall not exceed 360 months) shall be calculated assuming that
          the first Month of Continuous Service is his or her Plan Entry Date
          (and if the Participant experiences a Termination of Employment and is
          rehired, the first day of the rehire, rather than the original date of
          employment shall be used, unless the Committee, in its sole
          discretion, determines otherwise) and (ii) the Participant's
          employment with at least one Employer will continue until the
          Participant reaches age 65. (The Committee, in its sole discretion,
          may award Months of Continuous Service for employment service with an
          Employer prior to the Plan Entry Date, provided that any such award
          shall not exceed 84 months.) The number of months so calculated shall
          be divided by 12, rounding the number to two decimal places. (For
          example, if a Participant turns age 40 on his or her Plan Entry Date
          and has been granted by the Committee 60 months of continuous service
          prior to commencing participation in the Plan, his or her Months of
          Continuous Service shall be 360 and that number shall be divided by
          12, with a result of 30.)

     (b)  The result in (a) above shall be multiplied by 2%.

     (c)  The result in (b) above shall have 5% added to it. (As a note of
          clarification, this percentage is subject to vesting under Section
          3.2(a)(i) and shall be shown on periodic benefit statements as
          unvested until vesting occurs and represents an additional benefit for
          60 Months of Continuous Service starting with the Participant's Plan
          Entry Date.)

     (d)  The result in (c) above shall be multiplied by the "Applicable
          Percentage" found in the Table attached to this Plan as Schedule A.
          The "Applicable Percentage" shall correspond

--------------------------------------------------------------------------------

                                      -7-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

          to the Participant's age, stated in complete months (using the
          Participant's birthday and monthly anniversary dates of that birthday
          to determine complete months), on the Participant's Plan Entry Date.

     (e)  The result in (d) above shall be multiplied by the Participant's
          Compensation for the applicable Plan Year. In this regard, for the
          first year of the Participant's Plan participation, Compensation shall
          be the Participant's Compensation as of the Participant's Plan Entry
          Date, adjusted to take into account only the Compensation to be paid
          from the Plan Entry Date to the end of the Plan Year. For subsequent
          Plan Years, Compensation shall be the Participant's Compensation,
          determined as of the first day of the Plan Year. Despite the
          foregoing, should a Participant receive a Compensation increase during
          any calendar quarter of Plan participation, the above computations in
          this Section 3.1 will be recalculated to take into account, for the
          purpose of calculating the installment contribution for that calendar
          quarter and any subsequent calendar quarter during the Plan Year, the
          Compensation increase.

     (f)  The result in (e) above shall be the Annual Company Contribution
          Amount and that amount shall be credited to the Participant's Account
          Balance as follows. For the first year of Plan participation, it shall
          be credited in equal installments on the last day of each calendar
          quarter during that portion of the Plan Year for which the Participant
          participates in the Plan. For subsequent Plan Years, the Annual
          Company Contribution Amount shall be credited to the Participant's
          Account Balance in equal quarterly installments on the last day of
          each calendar quarter; provided, however, that if a Participant is not
          employed by an Employer as of the last day of a calendar quarter, the
          portion of the Annual Company Contribution Amount that otherwise would
          be credited to the Participant's Account Balance for that calendar
          quarter shall not be credited. Despite the foregoing, no contribution
          shall be made for any calendar quarter after the calendar quarter in
          which a Participant reaches age 65.

3.2  VESTING.

     (a)  Except as otherwise provided in this Section 3.2:

          (i)  A Participant shall vest in that portion of a Participant's
               Account Balance that represents the 5% additional benefit
               provided for in Section 3.1(c), plus earnings thereon, upon the
               Participant's attainment of both (1) sixty (60) Months of Plan
               Participation and (2) one hundred and twenty (120) Months of
               Continuous Service. If a Participant does not vest in accordance
               with the immediately preceding sentence, for purposes of
               determining the Participant's vested Account Balance under this
               Plan, the contributions credited to the Participant's Account
               Balance under Section 3.1, starting with the first Plan Year in
               which the Participant commences participation in the Plan, shall
               be calculated without the addition of 5% in Section 3.1(c) and
               earnings thereon. For purposes of this

--------------------------------------------------------------------------------

                                      -8-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

               Section 3.2(a) only, the Committee, in its sole discretion, may
               award a Participant with extra Months of Continuous Service, not
               to exceed 84 months.

          (ii) A Participant shall vest in his or her remaining Account Balance
               (i.e., the portion not described in (i) above) upon the
               attainment of thirty-six (36) Months of Plan Participation.

          (iii) In the event of a Participant's death or Disability, a
               Participant's Account Balance shall immediately become 100%
               vested (if it is not already vested in accordance with the above
               vesting schedules). In addition, if a Change in Control occurs
               and, within two years of the date of that Change in Control, the
               Participant is terminated by his or her Employer without cause
               (i.e., other than for a Termination for Cause), or the
               Participant terminates his or her employment for Reasonable
               Cause, then the Participant's Account Balance shall immediately
               become 100% vested (if it is not already vested in accordance
               with the above vesting schedules).

     (b)  Notwithstanding subsection (a) above, the vesting schedule for a
          Participant's Account Balance shall not be accelerated to the extent
          that the Committee determines that such acceleration would cause the
          deduction limitations of Section 280G of the Code to become effective.
          In the event that all of a Participant's Account Balance is not vested
          pursuant to such a determination, the Participant may request
          independent verification of the Committee's calculations with respect
          to the application of Section 280G. In such case, the Committee must
          provide to the Participant within 15 business days of such a request
          an opinion from a nationally recognized accounting firm selected by
          the Participant (the "Accounting Firm"). The opinion shall state the
          Accounting Firm's opinion that any limitation on the vested percentage
          hereunder is necessary to avoid the limits of Section 280G and contain
          supporting calculations. The reasonable cost of such opinion shall be
          paid for by the Company.

     (c)  Notwithstanding any other provision of this Section 3.2:

          (i)  If a Participant is Terminated for Cause, he or she shall forfeit
               that portion of his or her Account Balance that represents (1)
               the Annual Company Contribution Amount under Section 3.1, plus
               earnings thereon, for the Plan Year in which such termination
               takes place, and (2) the Annual Company Contribution Amounts
               under Section 3.1, plus earnings thereon, credited during the two
               Plan Years immediately preceding the Plan Year in which such
               termination takes place.

          (ii) If a Participant (1) Discloses Confidential Information at any
               time, (2) participates at any time in any action that has a
               direct, substantial and adverse effect on the reputation or
               business of any Employer, or (3) within two years after his or
               her Termination of Employment accepts a position of employment
               with a Competitor of any Employer, he or she shall forfeit his or
               her entire unpaid Account Balance. A "Competitor" shall be any
               employer or person who is in the same primary business or
               provides the same primary

--------------------------------------------------------------------------------

                                      -9-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

               services as those primarily conducted or provided by the Company
               and all other Employers, considered as a single enterprise, as
               reasonably determined by the Committee. Despite the foregoing, if
               within two years following a Change in Control, a Participant
               accepts a position of employment with a Competitor of any
               Employer, the Participant shall not forfeit his or her unpaid
               vested Account Balance as a result of accepting such a position.

          (iii) Notwithstanding (i) or (ii) immediately above, the Committee, in
               its sole and absolute discretion, may waive, limit or condition
               any such forfeiture of benefits.

     (d)  Any amount not vested under this Section 3.2 when a Participant would
          otherwise first become entitled to the payment of a benefit under this
          Plan shall be forfeited and debited against the Participant's Account
          Balance.

3.3  CREDITING/DEBITING OF ACCOUNT BALANCES. In accordance with, and subject to,
     the rules and procedures that are established from time to time by the
     Committee, in its sole discretion, amounts shall be credited or debited to
     a Participant's Account Balance in accordance with the following rules:

     (a)  ELECTION OF MEASUREMENT FUNDS. A Participant, in connection with his
          or her initial participation in the Plan, shall elect, on the Election
          Form, one or more Measurement Fund(s) (as described in Section 3.3(c))
          to be used to determine the additional amounts to be credited or
          debited to his or her Account Balance. A Participant may (but is not
          required to) elect to add or delete one or more available Measurement
          Fund(s) to be used to determine the additional amounts to be credited
          or debited to his or her Account Balance, or to change the portion of
          his or her Account Balance allocated to each previously or newly
          elected Measurement Fund. A Participant may elect to make such a
          change by submitting an Election Form, whether written or electronic
          (as determined by the Committee from time to time and in its sole
          discretion), to the Committee. Any election so made and accepted by
          the Committee shall apply no later than the third business day
          following the Committee's acceptance of the election. Any such
          election shall continue to apply, unless subsequently changed in
          accordance with this Section 3.3(a).

     (b)  PROPORTIONATE ALLOCATION. In making any election described in Section
          3.3(a), the Participant shall specify on the Election Form, in
          increments of five percentage points (5%), the percentage of his or
          her Account Balance to be allocated to a Measurement Fund (as if the
          Participant were making an investment in that Measurement Fund with
          that portion of his or her Account Balance).

     (c)  MEASUREMENT FUNDS. A Participant may elect one or more measurement
          funds (the "Measurement Funds") from among those selected by the
          Committee for the purpose of crediting or debiting additional amounts
          to his or her Account Balance. As necessary, the Committee may, in its
          sole discretion, discontinue, substitute or add Measurement Funds.

--------------------------------------------------------------------------------

                                      -10-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

          Each such action will take effect as of the first day of the calendar
          quarter that follows by thirty (30) days or more the day on which the
          Committee gives Participants advance written notice of such change. In
          selecting the Measurement Funds that are available from time to time,
          neither the Committee nor any Employer shall be liable to any
          Participant for such selection or adding, deleting or continuing any
          available Measurement Fund.

     (d)  CREDITING OR DEBITING METHOD. The performance of each elected
          Measurement Fund (either positive or negative) will be reasonably
          determined by the Committee. A Participant's Account Balance shall be
          credited or debited on a daily basis based on the performance of each
          Measurement Fund selected by the Participant.

     (e)  NO ACTUAL INVESTMENT. Notwithstanding any other provision of this Plan
          that may be interpreted to the contrary, the Measurement Funds are
          to be used for measurement purposes only, and a Participant's
          election of any such Measurement Fund, the allocation to his or her
          Account Balance thereof, the calculation of additional amounts and
          the crediting or debiting of such amounts to a Participant's
          Account Balance SHALL NOT be considered or construed in any manner
          as an actual investment of his or her Account Balance in any such
          Measurement Fund. In the event that the Company or the Trustee (as
          that term is defined in the Trust), in its sole discretion, decides
          to invest funds in any or all of the Measurement Funds, no
          Participant shall have any rights in or to such investments
          themselves. Without limiting the foregoing, a Participant's Account
          Balance shall at all times be a bookkeeping entry only and shall
          not represent any investment made on his or her behalf by the
          Company or the Trust; and the Participant shall at all times remain
          an unsecured creditor of the Company.

     (f)  EMPLOYER DISCRETION. Notwithstanding the foregoing provisions of this
          Section 3.3, the Committee shall retain the overriding discretion
          regarding the Participant's designation of Measurement Funds under
          this Section 3.3. If a Participant fails to designate any Measurement
          Fund under this Section 3.3, the Participant shall be deemed to have
          elected the money market fund, or such other fund as determined from
          time to time by the Committee in its sole discretion.

     (g)  SELECTION RESULTS. The Participant shall bear full responsibility for
          all results associated with his or her selection of Measurement Funds
          under this Section 3.3, and the Employers shall have no responsibility
          or liability with respect to the Participant's selection of such
          Measurement Funds.

3.4  FICA AND OTHER TAXES.

     (a)  COMPANY CONTRIBUTION AMOUNTS. When a Participant becomes vested in his
          or her Account Balance, the Participant's Employer(s) shall withhold
          from the Participant's salary and/or bonus, in a manner determined by
          the Employer(s), the Participant's share of FICA and other employment
          taxes. If necessary, the Committee may reduce the vested portion of
          the Participant's Account Balance in order to comply with this Section
          3.4.

--------------------------------------------------------------------------------

                                      -11-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     (b)  DISTRIBUTIONS. The Participant's Employer(s), or the Trustee of the
          Trust, shall withhold from any payments made to a Participant under
          this Plan all federal, state and local income, employment and other
          taxes required to be withheld by the Employer(s), or the Trustee of
          the Trust, in connection with such payments, in amounts and in a
          manner to be determined in good faith in the sole discretion of the
          Employer(s) and the Trustee of the Trust.

                                    ARTICLE 4
                       UNFORESEEABLE FINANCIAL EMERGENCIES

4.1  WITHDRAWAL PAYOUT FOR UNFORESEEABLE FINANCIAL EMERGENCIES. If the
     Participant experiences an Unforeseeable Financial Emergency, the
     Participant may petition the Committee to receive a partial or full payout
     from the Plan. The payout shall not exceed the lesser of the Participant's
     vested Account Balance, calculated as if such Participant were receiving a
     Termination Benefit, or the amount reasonably needed to satisfy the
     Unforeseeable Financial Emergency. If, subject to the sole discretion of
     the Committee, the petition for a payout is approved, any payout shall be
     made within 60 days of the date of approval. The payment of any amount
     under this Section 4.1 shall be subject to the Deduction Limitation.

                                    ARTICLE 5
                               RETIREMENT BENEFIT

5.1  RETIREMENT BENEFIT. Subject to the Deduction Limitation, a Participant who
     Retires shall receive, as a Retirement Benefit, his or her vested Account
     Balance.

5.2  PAYMENT OF RETIREMENT BENEFIT.

     (a)  RETIREMENT AT OR AFTER AGE 65. If a Participant Retires at or after
          age 65, the Participant shall commence receiving his or her Retirement
          Benefit within 60 days of his or her Retirement, as elected by the
          Participant, either in a lump sum or in installments of up to 80
          quarters pursuant to the Quarterly Installment Method. The
          Participant, in connection with his or her commencement of
          participation in the Plan, may elect on an Election Form how he or she
          is to receive his or her Retirement Benefit as set forth in the
          immediately preceding sentence. The Participant may annually change
          his or her election to an allowable alternative payout period by
          submitting a new Election Form to the Committee, provided that any
          such Election Form is submitted at least 1 year prior to the
          Participant's Retirement and is accepted by the Committee in its sole
          discretion. Subject to the prior sentence, the Election Form most
          recently accepted by the Committee shall govern the payout of the
          Retirement Benefit. If the Participant does not make any election with
          respect to the payment of the Retirement Benefit, then such benefit
          shall be payable in a lump sum. Any payment made shall be subject to
          the Deduction Limitation.

--------------------------------------------------------------------------------

                                      -12-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     (b)  RETIREMENT BEFORE AGE 65. If a Participant Retires before reaching age
          65, then no later than 60 days after the last day of the calendar
          quarter in which the second anniversary of the Participant's
          Retirement falls (the "Second Anniversary of Retirement"), the
          Participant shall commence receiving his or her Retirement Benefit, as
          elected by the Participant, either in a lump sum or in installments of
          up to 80 quarters pursuant to the Quarterly Installment Method. A
          Participant, in connection with his or her commencement of
          participation in the Plan, may elect on an Election Form how he or she
          is to receive his or her Retirement Benefit as set forth in the
          immediately preceding sentence. The Participant may annually change
          his or her election to an allowable alternative payout period by
          submitting a new Election Form to the Committee, provided that any
          such Election Form is submitted at least 1 year prior to the
          Participant's Second Anniversary of Retirement and is accepted by the
          Committee in its sole discretion. Subject to the prior sentence, the
          Election Form most recently accepted by the Committee shall govern the
          payout of the Retirement Benefit. If the Participant does not make any
          election with respect to the payment of the Retirement Benefit, then
          such benefit shall be payable in a lump sum, starting within 60 days
          after the Participant's Second Anniversary of Retirement. Any payment
          made shall be subject to the Deduction Limitation.

5.3  DEATH PRIOR TO COMPLETION OF RETIREMENT BENEFIT. If a Participant dies
     after Retirement but before the Retirement Benefit is paid in full, the
     Participant's unpaid Retirement Benefit payments shall continue and shall
     be paid to the Participant's Beneficiary (a) over the remaining number of
     quarters and in the same amounts as that benefit would have been paid to
     the Participant had the Participant survived, or (b) in a lump sum, if
     requested by the Beneficiary and allowed in the sole discretion of the
     Committee, that is equal to the Participant's unpaid remaining vested
     Account Balance.

                                    ARTICLE 6
                         PRE-RETIREMENT SURVIVOR BENEFIT

6.1  PRE-RETIREMENT SURVIVOR BENEFIT. Subject to the Deduction Limitation, the
     Participant's Beneficiary shall receive a Pre-Retirement Survivor Benefit
     equal to the Participant's vested Account Balance if the Participant dies
     before he or she Retires, experiences a Termination of Employment or
     suffers a Disability.

6.2  PAYMENT OF PRE-RETIREMENT SURVIVOR BENEFIT. A Participant, in connection
     with his or her commencement of participation in the Plan, may elect on an
     Election Form whether the Pre-Retirement Survivor Benefit shall be received
     by his or her Beneficiary in a lump sum or in installments of up to 80
     quarters pursuant to the Quarterly Installment Method. The Participant may
     annually change this election to an allowable alternative payout period by
     submitting a new Election Form to the Committee, which form may be accepted
     or rejected by the Committee in its sole discretion. Subject to the prior
     sentence, the Election Form most recently accepted by the Committee prior
     to the Participant's death shall govern the payout of the Participant's
     Pre-

--------------------------------------------------------------------------------

                                      -13-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     Retirement Survivor Benefit. If a Participant does not make any election
     with respect to the payment of the Pre-Retirement Survivor Benefit, then
     such benefit shall be paid in a lump sum. Despite the foregoing, if the
     Participant's vested Account Balance at the time of his or her death is
     less than $25,000, payment of the Pre-Retirement Survivor Benefit may be
     made, in the sole discretion of the Committee, in a lump sum or in
     installments of up to 20 quarters pursuant to the Quarterly Installment
     Method. The lump sum payment shall be made, or installment payments shall
     commence, no later than 60 days after the last day of the calendar quarter
     in which the Committee is provided with proof that is satisfactory to the
     Committee of the Participant's death. Any payment made shall be subject to
     the Deduction Limitation.

                                    ARTICLE 7
                               TERMINATION BENEFIT

7.1  TERMINATION BENEFIT. Subject to the Deduction Limitation, the Participant
     shall receive a Termination Benefit, which shall be equal to the
     Participant's vested Account Balance if a Participant experiences a
     Termination of Employment prior to his or her Retirement, death or
     Disability.

7.2  PAYMENT OF TERMINATION BENEFIT. No later than 60 days after the last day of
     the calendar quarter in which the second anniversary of the Participant's
     Termination of Employment falls, the Participant shall commence receiving
     his Termination Benefit in installments, based on 12 quarters, using the
     Quarterly Installment Method. The Committee, in its sole discretion, may
     cause the Termination Benefit to be paid in a lump sum or in installments
     pursuant to the Quarterly Installment Method of up to 120 months. Any
     payment made shall be subject to the Deduction Limitation.

7.3  DEATH PRIOR TO COMPLETION OF TERMINATION BENEFIT. If a Participant dies
     after his or her Termination of Employment but before the Termination
     Benefit is paid in full, the Participant's unpaid Termination Benefit
     payments shall continue and shall be paid to the Participant's Beneficiary
     (a) over the remaining number of quarters and in the same amounts as that
     benefit would have been paid to the Participant had the Participant
     survived, or (b) in a lump sum, if requested by the Beneficiary and allowed
     in the sole discretion of the Committee, that is equal to the Participant's
     unpaid remaining vested Account Balance.

                                    ARTICLE 8
                               DISABILITY BENEFIT

8.1  CONTINUED ELIGIBILITY; DISABILITY BENEFIT. A Participant suffering a
     Disability shall, for benefit purposes under this Plan, continue to be
     considered to be employed, and shall be eligible for the benefits provided
     for in Article 4, 5, 6 or 7 in accordance with the provisions of those
     Articles. However, during any period of Disability, no additional Months of
     Continuous Service shall be awarded to the Participant. Notwithstanding the
     above, the Committee shall have the right to, in

--------------------------------------------------------------------------------

                                      -14-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     its sole and absolute discretion and for purposes of this Plan only, and
     must in the case of a Participant who is otherwise eligible to Retire, deem
     the Participant to have experienced a Termination of Employment, or in the
     case of a Participant who is eligible to Retire, to have Retired, at any
     time (or in the case of a Participant who is eligible to Retire, as soon as
     practicable) after such Participant is determined to be suffering a
     Disability, in which case the Participant shall receive a Disability
     Benefit equal to his or her vested Account Balance at the time of the
     Committee's determination; provided, however, that should the Participant
     otherwise have been eligible to Retire, he or she shall be paid in
     accordance with Article 5. The Disability Benefit shall be paid in a lump
     sum within 60 days of the Committee's exercise of such right. Any payment
     made shall be subject to the Deduction Limitation.

                                    ARTICLE 9
                             BENEFICIARY DESIGNATION

9.1  BENEFICIARY. Each Participant shall have the right, at any time, to
     designate his or her Beneficiary(ies) (both primary as well as contingent)
     to receive any benefits payable under the Plan to a beneficiary upon the
     death of a Participant or the death of a predecessor Beneficiary receiving
     benefits under the Plan. The Beneficiary designated under this Plan may be
     the same as or different from the Beneficiary designation under any other
     plan of an Employer in which the Participant participates.

9.2  BENEFICIARY DESIGNATION; CHANGE; SPOUSAL CONSENT. A Participant shall
     designate his or her Beneficiary by completing and signing the Beneficiary
     Designation Form, and returning it to the Committee or its designated
     agent. A Participant shall have the right to change a Beneficiary by
     completing, signing and otherwise complying with the terms of the
     Beneficiary Designation Form and the Committee's rules and procedures, as
     in effect from time to time. If a married Participant names someone other
     than his or her spouse as a primary Beneficiary, a spousal consent, in the
     form designated by the Committee, must be signed by that Participant's
     spouse and returned to the Committee. Upon the acceptance by the Committee
     of a new Beneficiary Designation Form, all Beneficiary designations
     previously filed shall be canceled. The Committee shall be entitled to rely
     on the last Beneficiary Designation Form filed by the Participant and
     accepted by the Committee prior to his or her death.

9.3  ACKNOWLEDGMENT. No designation or change in designation of a Beneficiary
     shall be effective until received and acknowledged in writing by the
     Committee or its designated agent.

9.4  NO BENEFICIARY DESIGNATION. If a Participant fails to designate a
     Beneficiary as provided in Sections 9.1, 9.2 and 9.3 or, if all designated
     Beneficiaries predecease the Participant or die prior to complete
     distribution of the Participant's benefits, then the Participant's
     designated Beneficiary shall be deemed to be his or her surviving spouse.
     If the Participant has no surviving spouse, the benefits remaining under
     the Plan to be paid to a Beneficiary shall be payable to the executor or
     personal representative of the Participant's estate.

--------------------------------------------------------------------------------

                                      -15-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

9.5  DOUBT AS TO BENEFICIARY. If the Committee has any doubt as to the proper
     Beneficiary to receive payments pursuant to this Plan, the Committee shall
     have the right, exercisable in its discretion, to cause the Participant's
     Employer to withhold such payments until this matter is resolved to the
     Committee's satisfaction.

9.6  DISCHARGE OF OBLIGATIONS. The payment of benefits under the Plan to a
     Beneficiary shall fully and completely discharge all Employers and the
     Committee from all further obligations under this Plan with respect to the
     Participant, and that Participant's Plan Agreement shall terminate upon
     such full payment of benefits.

                                   ARTICLE 10
                                LEAVE OF ABSENCE

10.1 PAID LEAVE OF ABSENCE. If a Participant is authorized by the Participant's
     Employer for any reason to take a paid leave of absence from the employment
     of the Employer, the Participant shall continue to be considered employed
     by the Employer and shall continue to accrue Months of Continuous Service
     during the continuation of such leave of absence.

10.2 UNPAID LEAVE OF ABSENCE. If a Participant is authorized by the
     Participant's Employer for any reason to take an unpaid leave of absence
     from the employment of the Employer, the Participant shall continue to be
     considered employed by the Employer, but the Participant shall not accrue
     additional Months of Continuous Service.

                                   ARTICLE 11
                     TERMINATION, AMENDMENT OR MODIFICATION

11.1 TERMINATION. Although each Employer anticipates that it will continue the
     Plan for an indefinite period of time, there is no guarantee that any
     Employer will continue the Plan or will not terminate the Plan at any time
     in the future. Accordingly, each Employer reserves the right, in its sole
     discretion, to discontinue its sponsorship of the Plan and/or to terminate
     the Plan at any time with respect to any or all of its participating
     Employees, by action of its board of directors. Upon the termination of the
     Plan with respect to any Employer, the Plan Agreements of the affected
     Participants who are employed by that Employer shall terminate and their
     vested Account Balances, determined as if they had experienced a
     Termination of Employment on the date of Plan termination or, if Plan
     termination occurs after the date upon which a Participant was eligible to
     Retire, then with respect to that Participant as if he or she had Retired
     on the date of Plan termination, shall be paid to the Participants as
     follows: Prior to a Change in Control, if the Plan is terminated with
     respect to all of its Participants, an Employer shall have the right, in
     its sole discretion, and notwithstanding any elections made by the
     Participant, to pay such benefits in a lump sum or in installments of up to
     60 quarters pursuant to the Quarterly Installment Method, with amounts
     credited and debited during the installment period as provided herein. If
     the Plan is terminated with respect to less than all of its Participants,
     an Employer shall be

--------------------------------------------------------------------------------

                                      -16-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     required to pay such benefits in a lump sum. After a Change in Control, the
     Employer shall be required to pay such benefits in a lump sum. The
     termination of the Plan shall not adversely affect any Participant or
     Beneficiary who has become entitled to the payment of any benefits under
     the Plan as of the date of termination; provided however, that the Employer
     shall have the right to accelerate installment payments without a premium
     or prepayment penalty by paying the vested Account Balance in a lump sum or
     in installments using fewer quarters pursuant to the Quarterly Installment
     Method.

11.2 AMENDMENT. Any Employer may, at any time in its sole discretion, amend or
     modify the Plan in whole or in part with respect to that Employer by the
     action of its board of directors; provided, however, that: (i) no amendment
     or modification shall be effective to decrease or restrict the value of a
     Participant's vested Account Balance in existence at the time the amendment
     or modification is made, calculated as if the Participant had experienced a
     Termination of Employment as of the effective date of the amendment or
     modification or, if the amendment or modification occurs after the date
     upon which the Participant was eligible to Retire, the Participant had
     Retired as of the effective date of the amendment or modification, and (ii)
     no amendment or modification of this Section 11.2 shall be effective. The
     amendment or modification of the Plan shall not affect any Participant or
     Beneficiary who has become entitled to the payment of benefits under the
     Plan as of the date of the amendment or modification; provided, however,
     that the Employer shall have the right to accelerate installment payments
     by paying the vested Account Balance in a lump sum or in installments using
     fewer quarters pursuant to the Quarterly Installment Method.

11.3 PLAN AGREEMENT. Despite the provisions of Section 11.1 and 11.2, if a
     Participant's Plan Agreement contains benefits or limitations that are not
     in this Plan document, the Employer may only amend or terminate such
     provisions with the consent of the Participant.

11.4 EFFECT OF PAYMENT. The full payment of the applicable benefit under Article
     4, 5, 6, 7 or 8 of the Plan shall completely discharge all obligations to a
     Participant and his or her designated Beneficiary under this Plan and the
     Participant's Plan Agreement shall terminate.

                                   ARTICLE 12
                                 ADMINISTRATION

12.1 COMMITTEE DUTIES. Except as otherwise provided in this Article 12, this
     Plan shall be administered by a Committee which shall consist of the Board,
     or such committee as the Board shall appoint from time to time. Members of
     the Committee may be Participants under this Plan and need not be members
     of the Board. The Committee shall also have the discretion and authority to
     (i) make, amend, interpret, and enforce all appropriate rules and
     regulations for the administration of this Plan and the governance of the
     Committee and (ii) decide or resolve any and all questions, including
     interpretations of this Plan, as may arise in connection with the Plan. Any
     individual serving on the Committee who is a Participant shall not vote or
     act on any matter

--------------------------------------------------------------------------------

                                      -17-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     relating solely to himself or herself. When making a determination or
     calculation, the Committee shall be entitled to rely on information
     furnished by a Participant or the Company.

12.2 AGENTS. In the administration of this Plan, the Committee may, from time to
     time, employ agents and delegate to them such administrative duties as it
     sees fit (including acting through a duly appointed representative) and may
     from time to time consult with counsel who may be counsel to any Employer.
     The Company shall pay all expenses of such agents.

12.3 BINDING EFFECT OF DECISIONS. The decision or action of the Committee with
     respect to any question arising out of or in connection with the
     administration, interpretation or application of the Plan and the rules and
     regulations promulgated hereunder shall be final and conclusive and binding
     upon all persons having any interest in the Plan.

12.4 INDEMNITY OF COMMITTEE. All Employers shall indemnify, defend and hold
     harmless each member of the Committee, and any Employee to whom the duties
     of the Committee may be delegated, against any and all claims, losses,
     damages, expenses or liabilities, including reasonable attorneys' fees and
     court costs, arising from any action or failure to act with respect to this
     Plan, except in the case of willful misconduct by such member of the
     Committee or such Employee.

12.5 EMPLOYER INFORMATION. To enable the Committee to perform its functions, the
     Company and each Employer shall supply full and timely information to the
     Committee on all matters relating to the compensation of its Participants,
     the date and circumstances of the Retirement, Disability, death or
     Termination of Employment of its Participants, and such other pertinent
     information as the Committee may reasonably require.

                                   ARTICLE 13
                          OTHER BENEFITS AND AGREEMENTS

13.1 COORDINATION WITH OTHER BENEFITS. The benefits provided for a Participant
     and Participant's Beneficiary under the Plan are in addition to any other
     benefits available to such Participant under any other plan or program for
     employees of the Participant's Employer. The Plan shall supplement and
     shall not supersede, modify or amend any other such plan or program except
     as may otherwise be expressly provided.

                                   ARTICLE 14
                                CLAIMS PROCEDURES

14.1 PRESENTATION OF CLAIM. Any Participant or Beneficiary of a deceased
     Participant (such Participant or Beneficiary being referred to below as a
     "Claimant") may deliver to the Committee a written claim for a
     determination with respect to the amounts distributable to such Claimant
     from the Plan. If such a claim relates to the contents of a notice received
     by the Claimant, the claim must be made within 60 days after such notice
     was received by the Claimant. All other

--------------------------------------------------------------------------------

                                      -18-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     claims must be made within 180 days of the date on which the event that
     caused the claim to arise occurred. The claim must state with particularity
     the determination desired by the Claimant.

14.2 NOTIFICATION OF DECISION. The Committee shall consider a Claimant's claim
     within a reasonable time, and shall notify the Claimant in writing:

     (a)  that the Claimant's requested determination has been made, and that
          the claim has been allowed in full; or

     (b)  that the Committee has reached a conclusion contrary, in whole or in
          part, to the Claimant's requested determination, and such notice must
          set forth in a manner calculated to be understood by the Claimant:

          (i)  the specific reason(s) for the denial of the claim, or any part
               of it;

          (ii) specific reference(s) to pertinent provisions of the Plan upon
               which such denial was based;

          (iii) a description of any additional material or information
               necessary for the Claimant to perfect the claim, and an
               explanation of why such material or information is necessary; and

          (iv) an explanation of the claim review procedure set forth in Section
               14.3.

14.3 REVIEW OF A DENIED CLAIM. Within 60 days after receiving a notice from the
     Committee that a claim has been denied, in whole or in part, a Claimant (or
     the Claimant's duly authorized representative) may file with the Committee
     a written request for a review of the denial of the claim. Thereafter, but
     not later than 30 days after the review procedure began, the Claimant (or
     the Claimant's duly authorized representative):

     (a)  may review pertinent documents;

     (b)  may submit written comments or other documents; and/or (c) may request
          a hearing, which the Committee, in its sole discretion, may grant.

14.4 DECISION ON REVIEW. The Committee shall render its decision on review
     promptly, and not later than 60 days after the filing of a written request
     for review of the denial, unless a hearing is held or other special
     circumstances require additional time, in which case the Committee's
     decision must be rendered within 120 days after such date. Such decision
     must be written in a manner calculated to be understood by the Claimant,
     and it must contain:

     (a)  specific reasons for the decision;

     (b)  specific reference(s) to the pertinent Plan provisions upon which the
          decision was based; and

     (c)  such other matters as the Committee deems relevant.

--------------------------------------------------------------------------------

                                      -19-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

14.5 LEGAL ACTION. A Claimant's compliance with the foregoing provisions of this
     Article 14 is a mandatory prerequisite to a Claimant's right to commence
     any legal action with respect to any claim for benefits under this Plan.

                                   ARTICLE 15
                                      TRUST

15.1 ESTABLISHMENT OF THE TRUST. The Company shall establish the Trust, with
     sub-trusts for each Employer. Each Employer shall at least annually
     transfer over to the Trust such assets as the Employer determines, in its
     sole discretion, are necessary to provide, on a present value basis, for
     its respective future liabilities created with respect to the Annual
     Company Contribution Amounts for such Employer's Participants for all
     periods prior to the transfer, as well as any debits and credits to the
     Participants' Account Balance for all periods prior to the transfer, taking
     into consideration the value of the assets in the trust at the time of the
     transfer. Such assets shall be allocated to the respective sub-trust of
     each contributing Employer.

15.2 INTERRELATIONSHIP OF THE PLAN AND THE TRUST. The provisions of the Plan and
     the Plan Agreement shall govern the rights of a Participant to receive
     distributions pursuant to the Plan. The provisions of the Trust shall
     govern the rights of the Employers, Participants and the creditors of the
     Employers to the assets transferred to the Trust. Each Employer shall at
     all times remain liable to carry out its obligations under the Plan with
     respect to its Participants. In this regard, if a Participant has been
     employed by only one Employer, such Employer shall be responsible for the
     total amounts credited to such Participant's Account Balance under this
     Plan. If a Participant has been employed by more than one Employer, each
     Employer shall be responsible only for the amounts credited to the
     Participant's Account Balance by such Employer.

15.3 DISTRIBUTIONS FROM THE TRUST. Each Employer's obligations under the Plan
     may be satisfied with Trust assets distributed pursuant to the terms of the
     Trust, and any such distribution shall reduce the Employer's obligations
     under this Plan.

15.4 INVESTMENT OF TRUST ASSETS. The Trustee of the Trust shall be authorized,
     upon written instructions received from the Committee or investment manager
     appointed by the Committee, to invest and reinvest the assets of the Trust
     in accordance with the applicable Trust Agreement.

15.5 NO CLAIM ON TRUST ASSETS. A Participant shall have no preferred claim on,
     or any beneficial interest in, any assets of the Trust. Any assets held by
     the Trust shall be subject to the claims of general creditors of each
     Employer that is the grantor of the Trust under federal and state law in
     the event of the Employer's "insolvency" (i.e., the Employer is unable to
     pay its debts as they become due or is subject to a pending proceeding as a
     debtor under the United States Bankruptcy Code), but only with respect to
     the assets of the Trust held for the benefit of Participants employed or
     formerly employed by such Employer.

--------------------------------------------------------------------------------

                                      -20-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

                                   ARTICLE 16
                                  MISCELLANEOUS

16.1 STATUS OF PLAN. The Plan is intended to be a plan that is not qualified
     within the meaning of Code Section 401(a) and that "is unfunded and is
     maintained by an employer primarily for the purpose of providing deferred
     compensation for a select group of management or highly compensated
     employees" within the meaning of ERISA Sections 201(2), 301(a)(3) and
     401(a)(1). The Plan shall be administered and interpreted to the extent
     possible in a manner consistent with that intent.

16.2 UNSECURED GENERAL CREDITOR. Participants and their Beneficiaries, heirs,
     successors and assigns shall have no legal or equitable rights, interests
     or claims in any property or assets of an Employer. For purposes of the
     payment of benefits under this Plan, any and all of an Employer's assets
     shall be, and remain, the general, unpledged unrestricted assets of the
     Employer. An Employer's obligation under the Plan shall be merely that of
     an unfunded and unsecured promise to pay money in the future.

16.3 EMPLOYER'S LIABILITY. An Employer's liability for the payment of benefits
     shall be defined only by the Plan and the Plan Agreement, as entered into
     between the Employer and a Participant. An Employer shall have no
     obligation to a Participant under the Plan except as expressly provided in
     the Plan and his or her Plan Agreement.

16.4 NONASSIGNABILITY. Neither a Participant nor any other person shall have any
     right to commute, sell, assign, transfer, pledge, anticipate, mortgage or
     otherwise encumber, transfer, hypothecate, alienate or convey in advance of
     actual receipt, the amounts, if any, payable hereunder, or any part
     thereof, which are, and all rights to which are expressly declared to be,
     unassignable and non-transferable. No part of the amounts payable shall,
     prior to actual payment, be subject to seizure, attachment, garnishment or
     sequestration for the payment of any debts, judgments, alimony or separate
     maintenance owed by a Participant or any other person, be transferable by
     operation of law in the event of a Participant's or any other person's
     bankruptcy or insolvency or be transferable to a spouse as a result of a
     property settlement or otherwise.

16.5 NOT A CONTRACT OF EMPLOYMENT. The terms and conditions of this Plan shall
     not be deemed to constitute a contract of employment between any Employer
     and the Participant. Such employment is hereby acknowledged to be an "at
     will" employment relationship that can be terminated at any time for any
     reason, or no reason, with or without cause, and with or without notice,
     unless otherwise expressly provided in a written employment agreement.
     Nothing in this Plan shall be deemed to give a Participant the right to be
     retained in the service of any Employer, or to interfere with the right of
     any Employer to discipline or discharge the Participant at any time.

16.6 FURNISHING INFORMATION. A Participant or his or her Beneficiary will
     cooperate with the Committee by furnishing any and all information
     requested by the Committee and take such other actions as may be requested
     in order to facilitate the administration of the Plan and the

--------------------------------------------------------------------------------

                                      -21-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     payments of benefits hereunder, including but not limited to taking such
     physical examinations as the Committee may deem necessary.

16.7 TERMS. Whenever any words are used herein in the masculine, they shall be
     construed as though they were in the feminine in all cases where they would
     so apply; and whenever any words are used herein in the singular or in the
     plural, they shall be construed as though they were used in the plural or
     the singular, as the case may be, in all cases where they would so apply.

16.8 CAPTIONS. The captions of the articles, sections and paragraphs of this
     Plan are for convenience only and shall not control or affect the meaning
     or construction of any of its provisions.

16.9 GOVERNING LAW. Subject to ERISA, the provisions of this Plan shall be
     construed and interpreted according to the internal laws of the State of
     Nevada, without regard to its conflicts of laws principles.

16.10 NOTICE. Any notice or filing required or permitted to be given to the
      Committee under this Plan shall be sufficient if in writing and
      hand-delivered, or sent by registered or certified mail, to the address
      below:

                          Secretary of the MGM MIRAGE SERP Plan
                          Committee 3600 Las Vegas Blvd So.
                          Las Vegas, NV  89109

      Such notice shall be deemed given as of the date of delivery or, if
      delivery is made by mail, as of the date shown on the postmark on the
      receipt for registration or certification.

      Any notice or filing required or permitted to be given to a Participant
      under this Plan shall be sufficient if in writing and hand-delivered, or
      sent by mail, to the last known address of the Participant.

16.11 SUCCESSORS. The provisions of this Plan shall bind and inure to the
      benefit of the Participant's Employer and its successors and assigns and
      the Participant and the Participant's designated Beneficiaries. No other
      person shall be a third-party beneficiary or acquire any rights under this
      Plan.

16.12 SPOUSE'S INTEREST. The interest in the benefits hereunder of a spouse of a
      Participant who has predeceased the Participant shall automatically pass
      to the Participant and shall not be transferable by such spouse in any
      manner, including but not limited to such spouse's will, nor shall such
      interest pass under the laws of intestate succession.

16.13 VALIDITY. In case any provision of this Plan shall be illegal or invalid
      for any reason, said illegality or invalidity shall not affect the
      remaining parts hereof, but this Plan shall be construed and enforced as
      if such illegal or invalid provision had never been inserted herein.

16.14 INCOMPETENT. If the Committee determines in its discretion that a benefit
      under this Plan is to be paid to a minor, a person declared incompetent or
      a person incapable of handling the disposition of that person's property,
      the Committee may direct payment of such benefit to the guardian,

--------------------------------------------------------------------------------

                                      -22-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

      legal representative or person having the care and custody of such minor,
      incompetent or incapable person. The Committee may require proof of
      minority, incompetence, incapacity or guardianship, as it may deem
      appropriate prior to distribution of the benefit. Any payment of a benefit
      shall be a payment for the account of the Participant and the
      Participant's Beneficiary, as the case may be, and shall be a complete
      discharge of any liability under the Plan for such payment amount.

16.15 COURT ORDER. The Committee is authorized to make any payments directed by
      court order in any action in which the Plan or the Committee has been
      named as a party. In addition, if a court determines that a spouse or
      former spouse of a Participant has an interest in the Participant's
      benefits under the Plan in connection with a property settlement or
      otherwise, the Committee, in its sole discretion, shall have the right,
      notwithstanding any election made by a Participant, to immediately
      distribute the spouse's or former spouse's interest in the Participant's
      benefits under the Plan to that spouse or former spouse.

16.16 DISTRIBUTION IN THE EVENT OF TAXATION.

     (a)  IN GENERAL. If, for any reason, all or any portion of a Participant's
          benefits under this Plan becomes taxable to the Participant prior to
          receipt, a Participant may petition the Committee before a Change in
          Control, or the Trustee of the Trust after a Change in Control, for a
          distribution of that portion of his or her benefit that has become
          taxable. Upon the grant of such a petition, which grant shall not be
          unreasonably withheld (and, after a Change in Control, shall be
          granted), a Participant's Employer shall distribute to the Participant
          immediately available funds in an amount equal to the taxable portion
          of his or her benefit (which amount shall not exceed a Participant's
          unpaid vested Account Balance under the Plan). If the petition is
          granted, the tax liability distribution shall be made within 90 days
          of the date when the Participant's petition is granted. Such a
          distribution shall affect and reduce the benefits to be paid under
          this Plan.

     (b)  TRUST. If the Trust terminates in accordance with its terms and
          benefits are distributed from the Trust to a Participant in accordance
          therewith, the Participant's benefits under this Plan shall be reduced
          to the extent of such distributions.

16.17 LEGAL FEES TO ENFORCE RIGHTS AFTER CHANGE IN CONTROL. The Company and each
      Employer is aware that upon the occurrence of a Change in Control, the
      Board or the board of directors of a Participant's Employer (which
      might then be composed of new members) or a shareholder of the Company
      or the Participant's Employer, or of any successor corporation, might
      cause or attempt to cause, the Company, the Participant's Employer or
      such successor to refuse to comply with its obligations under the Plan
      and might cause or attempt to cause the Company or the Participant's
      Employer to institute, or may institute, litigation seeking to deny
      Participants the benefits intended under the Plan. In these
      circumstances, the purpose of the Plan could be frustrated.
      Accordingly, if, following a Change in Control, it should appear to any
      Participant that the Company, the Participant's Employer or any
      successor corporation has failed to comply with any of its obligations
      under the Plan or any agreement thereunder or, if the Company, such
      Employer

--------------------------------------------------------------------------------

                                      -23-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

     or any other person takes any action to declare the Plan void or
     unenforceable or institutes any litigation or other legal action designed
     to deny, diminish or to recover from any Participant the benefits intended
     to be provided (collectively, the "Dispute"), then the Company and the
     Participant's Employer shall pay, if the Participant prevails in the
     Dispute, the Participant's reasonable legal fees and court costs actually
     incurred by the Participant in the initiation or defense of the Dispute,
     whether by or against the Company or the Participant's Employer or any
     director, officer, shareholder or other person affiliated with the Company,
     the Participant's Employer or any successor thereto.

IN WITNESS WHEREOF, the Company has signed this Plan document effective as of
January 1, 2001.

                                    "Company"
                                    MGM MIRAGE, a Delaware corporation

                                    By:  /s/  SCOTT LANGSNER
                                         --------------------------------------
                                    Title:  Sr VP and Secretary/Treasurer
                                          -------------------------------------

--------------------------------------------------------------------------------

                                      -24-

<PAGE>

[MGM MIRAGE LOGO]
Supplemental Executive Retirement Plan
MASTER PLAN DOCUMENT
================================================================================

                                   SCHEDULE A

--------------------------------------------------------------------------------

                                      -25-

<PAGE>

                                          SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
                                                        SCHEDULE A

<TABLE>
<CAPTION>
---------------- ------------            ---------------- ------------            ----------------- ------------
     Age          Applicable                  Age          Applicable                  Age           Applicable
  (in months)     Percentage               (in months)     Percentage               (in months)      Percentage
---------------- ------------            ---------------- ------------            ----------------- ------------

-----------------------------            -----------------------------            ------------------------------
  35 Years                                   40 Years                                45 Years
(420 Months)      19.67%                   (480 Months)      25.57                 (540 Months)     34.56%
-----------------------------            -----------------------------            ------------------------------
<S>               <C>                    <C>               <C>                    <C>               <C>
     421          19.75%                     481             25.69%                 541             34.76%
     422          19.84%                     482             25.81%                 542             34.95%
     423          19.92%                     483             25.94%                 543             35.15%
     424          20.01%                     484             26.06%                 544             35.35%
     425          20.09%                     485             26.19%                 545             35.55%
     426          20.17%                     486             26.31%                 546             35.75%
     427          20.26%                     487             26.43%                 547             35.95%
     428          20.34%                     488             26.56%                 548             36.15%
     429          20.43%                     489             26.68%                 549             36.35%
     430          20.51%                     490             26.81%                 550             36.54%
     431          20.59%                     491             26.93%                 551             36.74%

-----------------------------            -----------------------------            ------------------------------
  36 Years                                     41 Years                              46 Years
(432 Months)      20.68%                     (492 Months)    27.05%                (552 Months)     36.94%
-----------------------------            -----------------------------            ------------------------------
     433          20.77%                     493             27.19%                 553             37.16%
     434          20.86%                     494             27.32%                 554             37.38%
     435          20.95%                     495             27.46%                 555             37.61%
     436          21.04%                     496             27.59%                 556             37.83%
     437          21.13%                     497             27.73%                 557             38.05%
     438          21.22%                     498             27.87%                 558             38.27%
     439          21.31%                     499             28.00%                 559             38.49%
     440          21.40%                     500             28.14%                 560             38.71%
     441          21.49%                     501             28.27%                 561             38.93%
     442          21.58%                     502             28.41%                 562             39.16%
     443          21.67%                     503             28.54%                 563             39.38%

-----------------------------            -----------------------------            ------------------------------
  37 Years                                     42 Years                              47 Years
(444 Months)      21.76%                     (504 Months)    28.68%                (564 Months)     39.60%
-----------------------------            -----------------------------            ------------------------------
     445          21.86%                     505             28.82%                 565             39.85%
     446          21.96%                     506             28.97%                 566             40.09%
     447          22.05%                     507             29.12%                 567             40.34%
     448          22.15%                     508             29.27%                 568             40.59%
     449          22.25%                     509             29.42%                 569             40.84%
     450          22.35%                     510             29.57%                 570             41.09%
     451          22.44%                     511             29.71%                 571             41.33%
     452          22.54%                     512             29.86%                 572             41.58%
     453          22.64%                     513             30.01%                 573             41.83%
     454          22.74%                     514             30.16%                 574             42.08%
     455          22.83%                     515             30.31%                 575             42.33%

-----------------------------            -----------------------------            ------------------------------
  38 Years                                     43 Years                              48 Years
(456 Months)      22.93%                     (516 Months)    30.45%                (576 Months)     42.57%
-----------------------------            -----------------------------            ------------------------------
     457          23.04%                     517             30.62%                 577             42.85%
     458          23.14%                     518             30.78%                 578             43.13%
     459          23.25%                     519             30.94%                 579             43.41%
     460          23.35%                     520             31.10%                 580             43.69%
     461          23.46%                     521             31.27%                 581             43.97%
     462          23.56%                     522             31.43%                 582             44.25%
     463          23.67%                     523             31.59%                 583             44.53%
     464          23.77%                     524             31.75%                 584             44.81%
     465          23.88%                     525             31.92%                 585             45.09%
     466          23.98%                     526             32.08%                 586             45.37%
     467          24.09%                     527             32.24%                 587             45.65%

-----------------------------            -----------------------------            ------------------------------
  39 Years                                     44 Years                              49 Years
(468 Months)      24.20%                     (528 Months)    32.40%                (588 Months)     45.93%
-----------------------------            -----------------------------            ------------------------------
     469          24.31%                     529             32.58%                 589             46.25%
     470          24.42%                     530             32.76%                 590             46.57%
     471          24.54%                     531             32.94%                 591             46.88%
     472          24.65%                     532             33.12%                 592             47.20%
     473          24.77%                     533             33.30%                 593             47.52%
     474          24.88%                     534             33.48%                 594             47.84%
     475          24.99%                     535             33.66%                 595             48.15%
     476          25.11%                     536             33.84%                 596             48.47%
     477          25.22%                     537             34.02%                 597             48.79%
     478          25.34%                     538             34.20%                 598             49.11%
     479          25.45%                     539             34.38%                 599             49.42%
</TABLE>

                                       -1-

<PAGE>

                                          SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
                                                        SCHEDULE A

<TABLE>
<CAPTION>
---------------- ------------            ---------------- ------------            ----------------- ------------
     Age          Applicable                  Age          Applicable                  Age           Applicable
  (in months)     Percentage               (in months)     Percentage               (in months)      Percentage
---------------- ------------            ---------------- ------------            ----------------- ------------

-----------------------------            -----------------------------            ------------------------------
  50 Years                                     55 Years                              60 Years
(588 Months)      49.74%                     (660 Months)    80.42%                (720 Months)    173.06%
-----------------------------            -----------------------------            ------------------------------
<S>               <C>                    <C>               <C>                    <C>               <C>
     601          50.11%                     661             81.27%                 721            176.93%
     602          50.47%                     662             82.13%                 722            180.80%
     603          50.83%                     663             82.98%                 723            184.66%
     604          51.20%                     664             83.84%                 724            188.53%
     605          51.56%                     665             84.70%                 725            192.40%
     606          51.92%                     666             85.55%                 726            196.27%
     607          52.29%                     667             86.41%                 727            200.14%
     608          52.65%                     668             87.26%                 728            204.00%
     609          53.02%                     669             88.12%                 729            207.87%
     610          53.38%                     670             88.97%                 730            211.74%
     611          53.74%                     671             89.83%                 731            215.61%

-----------------------------            -----------------------------            ------------------------------
  51 Years                                     56 Years                              61 Years
(612 Months)      54.11%                     (672 Months)    90.68%                (732 Months)    219.48%
-----------------------------            -----------------------------            ------------------------------
     613          54.53%                     673             91.75%                 733            225.93%
     614          54.95%                     674             92.83%                 734            232.38%
     615          55.37%                     675             93.90%                 735            238.83%
     616          55.79%                     676             94.97%                 736            245.28%
     617          56.21%                     677             96.04%                 737            251.73%
     618          56.63%                     678             97.11%                 738            258.18%
     619          57.05%                     679             98.18%                 739            264.63%
     620          57.47%                     680             99.25%                 740            271.07%
     621          57.89%                     681            100.32%                 741            277.52%
     622          58.31%                     682            101.39%                 742            283.97%
     623          58.73%                     683            102.46%                 743            290.42%

-----------------------------            -----------------------------            ------------------------------
  52 Years                                     57 Years                              62 Years
(624 Months)      59.15%                     (684 Months)   103.53%                (744 Months)    296.87%
-----------------------------            -----------------------------            ------------------------------
     625          59.64%                     685            104.91%                 745            309.78%
     626          60.14%                     686            106.29%                 746            322.68%
     627          60.63%                     687            107.67%                 747            335.59%
     628          61.12%                     688            109.04%                 748            348.49%
     629          61.61%                     689            110.42%                 749            361.40%
     630          62.10%                     690            111.80%                 750            374.30%
     631          62.59%                     691            113.18%                 751            387.21%
     632          63.08%                     692            114.56%                 752            400.11%
     633          63.58%                     693            115.94%                 753            413.02%
     634          64.07%                     694            117.31%                 754            425.92%
     635          64.56%                     695            118.69%                 755            438.83%

-----------------------------            -----------------------------            ------------------------------
  53 Years                                     58 Years                              63 Years
(636 Months)      65.05%                     (696 Months)   120.07%                (756 Months)    451.73%
-----------------------------            -----------------------------            ------------------------------
     637          65.63%                     697            121.91%                 757            490.46%
     638          66.21%                     698            123.75%                 758            529.18%
     639          66.79%                     699            125.59%                 759            567.91%
     640          67.38%                     700            127.43%                 760            606.63%
     641          67.96%                     701            129.27%                 761            645.36%
     642          68.54%                     702            131.10%                 762            684.09%
     643          69.12%                     703            132.94%                 763            722.81%
     644          69.70%                     704            134.78%                 764            761.54%
     645          70.28%                     705            136.62%                 765            800.26%
     646          70.87%                     706            138.46%                 766            838.99%
     647          71.45%                     707            140.30%                 767            877.71%

-----------------------------            -----------------------------            ------------------------------
  54 Years                                     59 Years                              64 Years
(648 Months)      72.03%                     (708 Months)   142.14%                (768 Months)    916.44%
-----------------------------            -----------------------------            ------------------------------
     649          72.73%                     709            144.72%                 769            913.15%
     650          73.43%                     710            147.29%                 770            909.86%
     651          74.13%                     711            149.87%                 771            906.57%
     652          74.83%                     712            152.45%                 772            903.28%
     653          75.52%                     713            155.02%                 773            899.99%
     654          76.22%                     714            157.60%                 774            896.70%
     655          76.92%                     715            160.18%                 775            893.42%
     656          77.62%                     716            162.75%                 776            890.13%
     657          78.32%                     717            165.33%                 777            886.84%
     658          79.02%                     718            167.91%                 778            883.55%
     659          79.72%                     719            170.48%                 779            880.26%
</TABLE>

                                       -2-<PAGE>

                                                               EXHIBIT 10.4(13)

                           H-TRACT TRI-PARTY AGREEMENT

     THIS AGREEMENT (this "AGREEMENT") is made this 18th day of October, 2000 by
and among MAC, CORP., a New Jersey corporation, having an address at 6595
Delilah Road, Egg Harbor Township, New Jersey 08234 ("MAC"), MARINA DISTRICT
DEVELOPMENT COMPANY, a joint venture, whose address is 8025 Black Horse Pike,
Suite 200, West Atlantic City, NJ 08232 ("MDDC"), and the CITY OF ATLANTIC CITY,
whose office is located at 1301 Bacharach Blvd., Atlantic City, New Jersey 08401
(the "CITY").

                                    RECITALS

     A.   MAC is the successor by assignment to the rights of Mirage Resorts,
Incorporated ("MRI") in and to that certain May 3, 1996 Agreement between the
City and MRI, as subsequently amended (the "Redevelopment Agreement"), which
Redevelopment Agreement provides for the development of the Huron North
Redevelopment Area;

     B.   MDDC is a joint venture comprised of Boyd Atlantic City, Inc., a New
Jersey corporation ("Boyd"), and MAC. MDDC is the developer of a 2,010 room
hotel casino, together with related restaurant, entertainment, retail and other
amenities on the "Joint Venture Property" as defined in Recital E herein (the
"MDDC Project");

     C.   In accordance with the terms of the Redevelopment Agreement, the City
conveyed title to the Huron North Redevelopment Area to MAC by deed dated
January 8, 1998, as recorded in the Atlantic County Clerk's Office on January 9,
1998 in Deed Book 6237, Page 223 (the "Original City Deed");

     D.   The Original City Deed contains various restrictions, including,
without limitation, a right of reversion and statutory covenants, provisions and
controls which affect the Huron North Redevelopment Area, all as more
particularly set forth in Sections 5 and 6 of the Original City Deed
(collectively, the "City Deed Restrictions");

     E.   On December 16, 1998, the City Council of the City adopted Ordinance
#70 of 1998 (the "Ordinance") which approved, INTER ALIA, the conveyance by MAC
to MDDC

<PAGE>

of a portion of the Huron North Redevelopment Area as shown on Exhibit A to the
Ordinance, and as more particularly described on Exhibit "A" hereto (the "Joint
Venture Property"), for the purpose of, among other things, developing and
operating thereon the MDDC Project;

     F.   Pursuant to the Ordinance, on January 13, 1999, the City and MAC
entered into a certain third amendment to the Redevelopment Agreement (the
"Third Amendment"), which amended, INTER ALIA, the Redevelopment Agreement to
approve the conveyance of the Joint Venture Property to MDDC;

     G.   Pursuant to the Third Amendment, the City executed an Agreement
Modifying Deed Book 6237, Page 223 dated January 18, 1999 and recorded on
February 10, 1999 in Deed Book 6433, Page 285 (the "Prior Deed Modification"),
pursuant to which the Original City Deed was modified to provide for the release
of the Mirage Land from the City Deed Restrictions and to incorporate the
Harrah's Land into the "Property" as defined therein (as such terms are defined
in the Prior Deed Modification) (the Original City Deed, as previously modified
by the Prior Deed Modification, is hereinafter referred to as the "City Deed");

     H.   The City and MAC entered into the "Agreement Restricting the Harrah's
Land" (as such term is defined in the Prior Deed Modification) dated January 18,
1999 and recorded on February 10, 1999 in Deed Book 6433, Page 323, pursuant to
which the Harrah's Land was subjected to the City Deed Restrictions;

     I.   The property subject to the City Deed less the Joint Venture Property
is hereinafter collectively referred to as the "MAC Property";

     J.   In connection with the development of the MDDC Project, MAC and MDDC
have requested that the City Council of the City adopt an Ordinance in the form
attached hereto as Exhibit "B" (the "Proposed Ordinance"), which Proposed
Ordinance will authorize the execution of a fourth amendment to the
Redevelopment Agreement in the form attached hereto as Exhibit "C" (the
"Proposed Fourth Amendment");

                                      2

<PAGE>

     K.   The Proposed Fourth Amendment will provide for the following: (1) upon
the conveyance of the Joint Venture Property from MAC to MDDC, the City will
release MDDC and the Joint Venture Property from all of the requirements,
restrictions and conditions of the Redevelopment Agreement, and (2)
contemporaneously with the execution of the Fourth Amendment, the City will
execute a second modification of the City Deed, a form of which is attached
hereto as Exhibit "D" (the "Second City Deed Modification");

     L.   The Second City Deed Modification will provide that upon completion of
the MDDC Project, the City will deliver a Release of City Deed Restrictions, a
form of which is attached hereto as Exhibit "E" (the "Release of City Deed
Restrictions");

     M.   The Release of City Deed Restrictions will provide for the release of
the Joint Venture Property and the MAC Property from the provisions relating to
the City Deed Restrictions of the City Deed, as amended by the Second City Deed
Modification, and the Agreement Restricting the Harrah's Land.

     NOW, THEREFORE, in consideration of the mutual covenants and conditions set
forth in this Agreement and other good and valuable consideration, receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

1.   MDDC AGREEMENT

     (a)  MDDC will continue to pursue its pending applications for the MDDC
Project currently under consideration by governmental agencies;

     (b)  MDDC will take all necessary steps to prepare, apply for and proceed
diligently to attempt to obtain other needed permits for the MDDC Project at its
sole cost and expense;

     (c)  MDDC will commence construction of the MDDC Project within 120 days of
the receipt of all final and unappealable permits and approvals which are
necessary to complete the MDDC Project and thereafter complete the construction
of the MDDC Project in accordance with the terms of this Agreement; and

                                       3

<PAGE>

     (d)  MDDC will in good faith attempt to complete the MDDC Project on or
before December 31, 2004 (the "Completion Date").

2.   EXTENSION OF COMPLETION DATE

     The Completion Date shall be subject to extension for delays caused by
force majeure which shall include an act of God, sabotage, strike, labor
dispute, lock-out or other industrial disturbance not caused by any act or
omission of MDDC, act of the public enemy, war, blockade, riots, lightening,
fire, flood, explosion, order or acts of military or civil authority, failure to
timely receive necessary governmental approvals, so long as such an event is not
caused by an act or omission of MDDC, and any other cause, whether of the kind
specifically enumerated above or otherwise, which is not reasonably within the
control of MDDC.

3.   THE CITY'S AGREEMENTS

     The City agrees:

     (a)  To provide any pertinent information in its possession and to provide
          any reasonable assistance, without cost or expense to the City other
          than payroll and internal administrative costs, which may be required
          of it to enable MDDC to properly apply for and obtain permits or
          approvals for the MDDC Project in a timely fashion;

     (b)  That the MDDC Project meets the requirements of and the terms and
          conditions of the Redevelopment Agreement and is agreed to be
          consistent with the definition of and to constitute the "Project" as
          defined in Section 3.1 of the Redevelopment Agreement;

     (c)  Simultaneously with the execution hereof, to execute the Fourth
          Amendment, pursuant to which MDDC and the Joint Venture Property will
          be released from the requirements, restrictions and conditions of the
          Redevelopment Agreement;

                                       4

<PAGE>

     (d)  That no default by MAC in the performance of any provision of the
          Redevelopment Agreement or the subsequent reversion of title of any of
          the MAC Property to the City will disturb or interfere with MDDC's use
          and enjoyment of the Joint Venture Property, the MDDC Project, or any
          improvements, including, without limitation, utilities, roadways,
          landscaping, lighting, and stormwater drainage, located on the MAC
          Property and used by MDDC in connection with the construction, use,
          operation, ownership, and management of the MDDC Project.

4.   RELEASE OF MAC PROPERTY AND JOINT VENTURE PROPERTY FROM RESTRICTIONS OF THE
CITY DEED AND THE SECOND CITY DEED MODIFICATION.

     Completion of construction of the MDDC Project shall occur when the
improvements shown on the plans prepared by Paulus, Sokolowski and Sartor, Inc.,
as the same may have been amended from time to time, are sufficiently complete
so that MDDC may occupy or utilize such improvements for their intended purpose,
which in any event shall not occur later than the opening of the MDDC Project to
the public ("Substantial Completion"). The City Planning Director or his
designee shall, within fifteen (15) days after MDDC's request therefor, inspect
the MDDC Project and either: (i) issue a certificate in recordable form that the
MDDC Project has reached Substantial Completion (a "Completion Certificate"); or
(ii) if the MDDC Project has not achieved Substantial Completion, provide MDDC a
written list detailing the remaining work necessary to cause the MDDC Project to
achieve Substantial Completion. If MDDC disagrees with such list, Substantial
Completion shall occur when determined by Sykes, O'Connor, Salerno & Hazaveh,
New Jersey Licensed Architects (the "Architect"), and the City Planning Director
shall issue a Completion Certificate upon Architect's determination thereof.

     Upon Substantial Completion of the MDDC Project, the conditions determined
to exist at the time the MAC Property and Joint Venture Property was determined
to be in

                                       5

<PAGE>

need of rehabilitation shall be deemed to no longer exist. Upon Substantial
Completion of the MDDC Project, the City agrees to provide MAC and MDDC with the
Release of City Deed Restrictions, pursuant to which the City will release the
MAC Property and the Joint Venture Property from the City Deed Restrictions
contained in the City Deed, as amended by the Second City Deed Modification, and
the Agreement Restricting the Harrah's Land. MAC and MDDC will then be free to
record the Release of City Deed Restrictions on presentation to the Atlantic
County Clerk recording officer pursuant to N.J.S.A. 46:15-1.1 et.seq.

5.   REMEDIES.

     (a)  The City's sole remedy under this Agreement is that the City may elect
to terminate MDDC's estate in the Joint Venture Property, and cause the Joint
Venture Property to automatically revert to the City, if MDDC or another
developer fails to complete the MDDC Project by the Completion Date. Such remedy
may not be exercised unless and until: (i) MDDC shall have been determined by a
final and unappealable determination of a court of competent jurisdiction to
have materially failed to complete the MDDC Project by the Completion Date; and
(ii) City shall have thereafter provided MDDC notice and opportunity to cure
equal to that set forth in Section 5.3.1.2 of the Redevelopment Agreement.

     (b)  MDDC and MAC shall be entitled to exercise any remedy available at law
or equity to enforce this Agreement and/or contest any alleged default.

6.   NOTICES

     All notices hereunder shall be given only (a) in writing; and (b) either
(i) delivered by hand; (ii) sent by certified mail, postage prepaid, return
receipt requested, deposited in a branch of the United States Postal Service; or
(iii) sent by Federal Express or other overnight courier service to the
respective parties as follows:

IF TO THE CITY:                City of Atlantic City
                               c/o Mary Siracusa, City Solicitor

                                       6

<PAGE>

                               1301 Bacharach Blvd.
                               Atlantic City,  NJ 08401

IF TO MDDC:                    Marina District Development Company
                               8025 Black Horse Pike
                               Atlantic City, New Jersey 08401
                               ATTN:  Chief Executive Officer

WITH A COPY TO:                Fox, Rothschild, O'Brien & Frankel, LLP
                               1300 Atlantic Avenue, Suite 500
                               Atlantic City, New Jersey 08401
                               ATTN:  Jack Plackter, Esquire

IF TO MAC:                     MAC CORP.
                               c/o MGM MIRAGE
                               3799 Las Vegas Blvd. South
                               Las Vegas, NV  89109
                               Attn:  John Redmond, Co-Chief Executive Officer

WITH A COPY TO:                MGM MIRAGE
                               3600 Las Vegas Blvd. South
                               Las Vegas, NV  89109
                               Attn:  Gary Jacobs, Esq.
                               Executive Vice President & General Counsel

Notices shall be effective upon receipt.

7.   CONSTRUCTION OF AGREEMENT

     a.   Nothing contained herein is intended to modify any of the rights and
obligations of the parties under that certain amended and restated joint venture
agreement by and among Boyd and MAC, dated as of July 14, 1998, as amended.

     b.   This Agreement is to be construed as a New Jersey contract, and shall
be governed by and construed in accordance with the laws of the State of New
Jersey. The parties hereto agree that the Courts of the State of New Jersey
shall have jurisdiction over any and all disputes between the parties under this
Agreement, or relating to the subject matter hereof, whether at law or in
equity, and venue in any such dispute shall be laid only in the Superior Court
of New Jersey in and for the County of Atlantic.

                                       7

<PAGE>

     c.   This Agreement may be canceled, modified or amended only by written
 instrument executed by all parties.

     d.   This Agreement may be executed in multiple counterparts, with
signature by facsimile, each of which, when executed, shall constitute one and
the same Agreement.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the day and year first above set forth.

ATTEST                              CITY OF ATLANTIC CITY

BENJAMIN FITZGERALD                 By:  JAMES WHELAN
-----------------------------------    ----------------------------------------
Benjamin Fitzgerald, City Clerk        Name:   James Whelan
                                       Title:  Mayor

                                    Approved as to form:
                                    MARY C. SIRACUSA
                                    -------------------------------------------
                                    Mary C. Siracusa, City Solicitor

                                    MARINA DISTRICT DEVELOPMENT
                                    COMPANY, a New Jersey joint venture
                                    BY:  BOYD ATLANTIC CITY, INC., a New
                                         Jersey  corporation,  Managing Venturer
ATTEST:

KEVIN J. SULLIVAN                   BY:  ROBERT L. BOUGHNER
-----------------------------------    ----------------------------------------
Kevin J. Sullivan, Vice President                 Robert L. Boughner,
                                                  Vice President

                                    MAC, CORP., a New Jersey corporation
ATTEST:

PETER C. WALSH                      BY:  ROBERT H. BALDWIN
-----------------------------------    ----------------------------------------
Peter C. Walsh, Assistant Secretary    Robert H. Baldwin, President

                                       8

<PAGE>

                   EXHIBIT "A" TO H-TRACT TRI-PARTY AGREEMENT

                   LEGAL DESCRIPTION OF JOINT VENTURE PROPERTY
                   -------------------------------------------

                                       9

<PAGE>

                   EXHIBIT "B" TO H-TRACT TRI-PARTY AGREEMENT

                               PROPOSED ORDINANCE
                               ------------------

                                       10

<PAGE>

                   EXHIBIT "C" TO H-TRACT TRI-PARTY AGREEMENT

              PROPOSED FOURTH AMENDMENT OF REDEVELOPMENT AGREEMENT
              ----------------------------------------------------

                                       11

<PAGE>

                   EXHIBIT "D" TO H-TRACT TRI-PARTY AGREEMENT

                     PROPOSED SECOND CITY DEED MODIFICATION
                     --------------------------------------

                                       12

<PAGE>

                   EXHIBIT "E" TO H-TRACT TRI-PARTY AGREEMENT

                   PROPOSED RELEASE OF CITY DEED RESTRICTIONS
                   ------------------------------------------
                     AND AGREEMENT RESTRICTING HARRAH'S LAND
                     ---------------------------------------

                                       13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}]]