Document:

EX-10.2

 Exhibit 10.2 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of this 14th day of June, 2014, (“Effective
Date”) by and between SBEHG LAS VEGAS I, LLC d/b/a SLS Las Vegas (“Hotel Operator”) and SB Gaming, LLC (“Gaming Operator,” and, together with Hotel Operator, the “Employer”)
and Robert L. Oseland II (“Employee”). Stockbridge/SBE Holdings, LLC (“Owner”) and Stockbridge Real Estate Fund III-A, LP, a Delaware limited liability partnership and Stockbridge Real Estate Fund
III-C, LP, a Delaware limited liability partnership (the two Stockbridge LPs are collectively “Guarantors”) join in this Agreement for the limited purpose of guaranteeing certain obligations of Employer undertaken pursuant
thereto (the aforementioned collectively “Parties”), . 
 RECITALS 

WHEREAS, Hotel Operator is a limited liability company duly organized and existing under the laws of the State of Nevada, maintains its
principal place of business at 2535 Las Vegas Boulevard, South, Las Vegas, Nevada 89109 and with the Owner and its Affiliates is engaged in the business of developing, owning and operating a casino resort at such place of business (the “SLS
Las Vegas”); and, 
 WHEREAS, Gaming Operator is a limited liability company duly organized and existing under the laws of
the State of Nevada, maintains its principal place of business at 2535 Las Vegas Boulevard, South, Las Vegas, Nevada 89109 and is engaged in the business of conducting Gaming Operations as defined in the Casino License Agreement between Owner and SB
Gaming, LLC, dated June 16, 2014, as it may be amended or restated from time to time (the “CLA”) at the SLS Las Vegas resort hotel-casino (the “SLS Las Vegas” or the “Project”); 

WHEREAS, pursuant to the Employee Lease Agreement between Hotel Operator, Gaming Operator dated June 16, 2014, as it may be
amended and/or restated from time to time (the “ELA”), Hotel Operator agrees to furnish to Gaming Operator, and Gaming Operator agrees to engage, certain employees, including Employee, as may be necessary to conduct all Gaming
Operations at the SLS Las Vegas; 
 WHEREAS, in furtherance of its business, Hotel Operator has employed Employee as the President
and Chief Operating Officer of SLS Las Vegas; and 
 WHEREAS, certain of the Parties executed an Employment Agreement, dated
March 14, 2012 (the “2012 Employment Agreement”) and an Addendum to Employment Agreement, dated May 21, 2012 (the “2012 Addendum”); and 

WHEREAS, the Parties desire to extinguish and dissolve the 2012 Employment Agreement and 2012 Addendum and this Agreement is
intended to amend, revise and supersede the 2012 Employment Agreement and 2012 Addendum and any other prior agreements or understandings, whether formal or informal, between the Parties; and 

NOW, THEREFORE, for and in consideration of the foregoing recitals and in consideration of the mutual covenants, agreements,
understandings, undertakings, representations, warranties and promises hereinafter set forth, with the parties intending to be legally bound thereby, Employer and Employee do hereby covenant and agree as follows: 

 

	1.	EMPLOYMENT POSITION AND DUTIES. 

 1.1 Employee will continue to be employed by
Hotel Operator, and will be employed by Gaming Operator, as the President and Chief Operating Officer (“COO”) of the SLS Las Vegas and shall, in a professional and businesslike manner, perform such duties assigned by Employer as are
generally associated with the duties of the President and COO of an integrated 

 
resort hotel and casino on the Las Vegas Strip for Employer, as well as such similar duties that are consistent with the foregoing as may be assigned to Employee by Employer. Employee’s
duties shall include, but not be limited to: (i) the responsibility for the strategic direction, operational planning and execution of all aspects of the business of the SLS Las Vegas in a manner consistent with the direction received from
Employer’s Representatives and in collaboration with other executives associated with Employer or its Affiliates; (ii) the efficient and continuous operation of the SLS Las Vegas; (iii) the preparation of relevant budgets and
allocation of relevant funds for the SLS Las Vegas; (iv) the selection and delegation of duties and responsibilities of subordinates; (v) the direction, review and oversight of all programs under Employee’s supervision; and
(vi) such other and further consistent duties as may be assigned by Employer to Employee from time to time. The foregoing notwithstanding, Employee shall devote such time to Employer’s Affiliates, as may be required by Employer, provided
such duties are with regard to their involvement with SLS Las Vegas only and not inconsistent with Employee’s primary duties to Employer. The Parties acknowledge and agree that circumstances may reasonably require Employer to seek to hire a new
professional with duties similar to those of the Employee and that such new professional may hold a position or rank equivalent or possibly senior to Employee. In such case, Employee shall be expected and agrees to facilitate any such new hire,
including by voluntarily relinquishing some or all of Employee’s existing duties to the new hire and instead accepting a modified role and job description with Employer. Such recruitment and hiring shall not be deemed by the Parties to be
a breach of this Agreement. Employee agrees to, at all times during the Term of this Agreement and in all material respects, adhere to any and all material non-conflicting internal written policies and procedures applicable to Employer’s
business and its employees as established or modified from time to time; provided, however, in the event of any conflict between the provisions of this Agreement and any such policies and procedures, the provisions of this Agreement shall control.

  

	2.	TERM 

 2.1 The term of Employee’s employment by Employer pursuant to this
Agreement shall commence on the Effective Date, and shall continue for a period of approximately eighteen (18) months through and including December 31, 2015, subject to earlier termination by either party as hereinafter provided
(“Term”). 
 2.2 The special termination provisions detailed in Section 5.1.4 will not be available to the employee
until subsequent to December 31, 2014. 
  

	3.	COMPENSATION; FRINGE BENEFITS 

 3.1 Base Salary. Except as
otherwise detailed in Section 5, the Employer shall pay Employee a Base Salary during the longer of December 31, 2014, or the Term of this Agreement, at the rate of Five Hundred Thousand Dollars ($540,450.00) per annum. Base Salary shall
be exclusive of, and in addition to, any other benefits which Employer may make available to Employee, including, but not limited to, any year-end bonus, discretionary bonus, disability or life insurance plan, medical and/or hospitalization plan
which may be in effect during the Term paid in accordance with the Employer’s payroll practices as established from time to time. 

3.2 Incentive Compensation 

3.2.1 In addition to the Base Salary set forth in Section 3.1 above, Employee shall be eligible to receive additional incentives in
connection with his employment as set forth in this Section 3.2. 

  
 Page 2 of 12

 3.2.2 After the completion of each calendar year during the Term of this Agreement,
Employee shall be entitled to an Annual Bonus Award of Two Hundred Fifty Thousand Dollars ($250,000.00), payable within thirty (30) days after the end of each calendar year. Except as otherwise detailed in Section 5, in the event Employee
is no longer employed by Employer at the end of calendar year 2014 or 2015, he shall receive a pro-rata bonus based on number of days worked during the respective calendar year of his termination. 

3.2.3 In connection with Employee’s employment, Employee shall be eligible to participate in Employer’s discretionary bonus
plan. 
 3.3 Other Employee Benefits. 

Employer hereby covenants and agrees that Employee, if otherwise eligible, shall be entitled to participate in all applicable employee welfare benefits
pursuant to any policy, plan, fund or program that are generally available to Employer’s employees during the Term, including those providing medical, surgical or hospital care or benefits and benefits in the event of sickness, accident,
disability, death or unemployment, but not entitled to participate in those related to vacation, pensions on retirement or death, and insurance to provide such pensions. All issues as to eligibility for any specific benefit and payment of employee
welfare benefits shall be as set forth in the applicable company policy, insurance policy or plan documents. Nothing in this Agreement shall limit Employer’s ability to exercise its discretion under any such employee welfare benefit policy,
plan, fund or program, or to adopt, amend or terminate any such benefit at any time. Subject to timely providing adequate records of proof and purpose in accordance with Employer’s policies and procedures, Employee shall be reimbursed by
Employer for all ordinary and necessary expenses incurred in the performance of his duties. 
 3.4 Vacation. Employee shall be
entitled to four (4) weeks of paid vacation at the start of each calendar year. Employee’s prior employment period with Employer and vacation taken shall be included in this calculation for 2014. Employee shall not be permitted to
carryover over vacation from one calendar year to the next. 
 3.5 Indemnification. To the maximum extent allowed by law,
Employer and Owner agree, and as a condition to Employee performing services for any Entity (defined below) such Entity will prior to the performance of services agree, to indemnify Employee against any expenses, including attorney’s fees,
judgments, fines and amounts paid in settlement actually, reasonably incurred by him in connection with any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, including an action by
or in the right of the company to procure a judgment in its favor, by reason of the fact that he is, or was at any time including prior to the execution of this Agreement, a manager, officer, employee or agent of the Employer, or is or was serving
at the request of the Employer as a manager, employee, officer or agent of another limited-liability company, corporation, partnership, joint venture, trust, Affiliate or other enterprise (collectively “Entity”), if he acted in good faith
and in a manner which he reasonably believed to be in or not opposed to the best interests of the Employer or the Entity for which he is performing such services, and, with respect to any criminal action or proceeding, had no reasonable cause to
believe his conduct was unlawful. Indemnification shall survive any termination of this Agreement and will continue for Employee when he has ceased to be a member, manager, employee or agent of Employer or Entity, and inures to the benefit of his
heirs, executors and administrators for so long as Employee and his heirs, executors and administrators shall be subject to any possible or threatened or pending or completed action or proceeding by reason of the fact that Employee was a member,
manager, employee or agent of Employer or Entity. Additionally, Employer shall use its commercially best efforts to obtain and provide to Employee directors’ and officers’ liability insurance with

  
 Page 3 of 12

 
coverage for all acts and omissions alleged to have occurred during the Term. If any provision of this Agreement results in any adverse tax, interest or penalty consequences
(“Penalties”) under Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), the Parties agree to act in good faith, and they shall restructure that specific provision in a manner that results in the
Employee receiving the net compensation and economic benefits intended herein, as calculated without application of such Penalties. The obligations of this Section 3 shall survive the termination of Employee’s employment for any reason.

  

	4.	CONSOLIDATION PAYMENT. 

 Employee expressly agrees to remain employed by Employer until
October 15, 2014, or forty-five (45) days from date of the opening of SLS Las Vegas, whichever is later (“Consolidation Payment Qualification Date”). However, in no event shall the Consolidation Payment Qualification Date be
later than December 31, 2014. In the event that: (i) Employee is employed by Employer on the Consolidation Payment Qualification Date, (ii) the Employee dies before the Consolidated Payment Date, (iii) the Employee terminates
before the Consolidated Payment Date pursuant to Section 5.1.5 or because of a breach of this Agreement by Employer, Owner, or Guarantors, or (iv) in the event that Employer terminates the Employee for any reason or no reason prior to the
Consolidation Payment Qualification Date, Employer, Guarantors and/or Owner shall be unconditionally obligated to compensate Employee in the amount of Two Million One Hundred Four Thousand Seven Hundred Seventy Five Dollars ($2,104,775.00)
(“Consolidation Payment”), inclusive of any portion of the Consolidation Payment made prior to the Consolidation Payment Qualification Date. The Parties acknowledge that a bona fide dispute arose over the rights Employee has or may have
had to the Annual Bonus Award as detailed in Section 7(b), Annual Operating Performance Bonus as detailed in Section 7(c), Promoted Interest in SLS Las Vegas as detailed in Section 7(d), Promoted Interest in SBEEG Holdings, LLC as
detailed in Section 7(e), and any and all other rights to future compensation as contained in Section 7 of the 2012 Employment Agreement and/or 2012 Addendum and, in order to resolve that dispute over the aggregate amount of deferred
compensation in compliance with Treas. Reg. 1.409A, have agreed to make the Consolidation Payment. In exchange and consideration for the full payment of the Consolidation Payment, Employee expressly covenants and agrees to extinguish and discharge
any and all rights he has or may have had to the Annual Bonus Award as detailed in Section 7(b), Annual Operating Performance Bonus as detailed in Section 7(c), Promoted Interest in SLS Las Vegas as detailed in Section 7(d), Promoted
Interest in SBEEG Holdings, LLC as detailed in Section 7(e), and any and all other rights to future compensation as contained in Section 7 of the 2012 Employment Agreement and/or 2012 Addendum. Employee expressly acknowledges and agrees
that the Consolidation Payment is fair and reasonable compensation for the discharge of the aforementioned rights under the 2012 Employment Agreement and 2012 Addendum. The Consolidation Payment shall be paid to Employee in eighteen (18) equal
installments paid on a monthly basis on a regular scheduled payroll date commencing on July 1, 2014, except upon the occurrence of an Acceleration Event (defined below), in which case the scheduled installment shall be paid in the ordinary
course and the outstanding balance shall be paid within thirty (30) days after termination of Employee’s employment. 
  

	5.	SPECIAL TERMINATION PROVISIONS. 

 5.1 This Agreement shall terminate upon the
occurrence of any of the following events: 
 5.1.1 The death of Employee; 

  
 Page 4 of 12

 5.1.2 The giving of written notice from Employer to Employee of the termination of this
Agreement upon the complete disability of Employee; 
 5.1.3 The giving of fourteen (14) days’ written notice pursuant to
Section 9 by Employer to Employee of the termination of this Agreement; 
 5.1.4 At any time on or after January 1, 2015,
upon the giving of fourteen (14) days written notice pursuant to Section 9 by Employee to Employer of the termination of this Agreement; and 

5.1.5 Upon the entering into an agreement for transfer, sale or assignment of all or substantially all of SLS Las Vegas to a Person
that isn’t an Affiliate of Employer or Owner, or the direct or indirect Change in Control of Employer or Owner, (collectively “Acceleration Event”) and upon the Employee giving of fourteen (14) days written notice pursuant to
Section 9 no later than thirty (30) days after Employee receives notice of the Acceleration Event to Employer of the termination of this Agreement. 

5.2 In the event that Employer elects to terminate Employee pursuant to Section 5.1.3 prior to December 31, 2014, or upon the
occurrence of an event described in 5.1.1, 5.1.2, or 5.1.5 on or before December 31, 2014, Employer, Guarantors, or Owner shall continue to pay Employee his Base Salary and Annual Bonus Award through and including December 31, 2014 paid in
accordance with the Employer’s established payroll practices, which for the Annual Bonus Award is January 30, 2015. 
 5.3
Upon termination of employment for any other reason, Employer, Guarantor, or Owner shall pay Employee: (i) accrued Base Salary, (ii) pro-rated Annual Bonus Award and other compensation to the extent approved by the Employer on or after
the date of this Agreement, (iii) other vested compensation, if any, and (iv) accrued, but unused, vacation pay, all to the date of termination. 

5.4 No termination of any kind at any time shall: (i) affect or release Employer’s, Guarantors’, and Owner’s
obligations to pay the Consolidation Payment which occurs on the Consolidation Payment Qualification Date, or the payments under Section 3 for the year ending December 31, 2014 that shall be prorated for any partial year, or
(ii) release their or their Affiliates’ obligations to Employee of indemnification as provided herein. 
  

	6.	CONFIDENTIALITY. 

 6.1 Employee hereby warrants, covenants and agrees that
Employee shall not directly or indirectly use or disclose any confidential information, trade secrets, or works for hire, whether in written, verbal, electronic or model form, at any time or in any manner, except as required in the conduct of
Employer’s or its Affiliate’s business or as expressly authorized by Employer in writing. Employee shall take all necessary and available precautions to protect against the unauthorized disclosure of confidential information, trade
secrets, or works for hire. Employee acknowledges and agrees that such confidential information, trade secrets, or works for hire are the sole and exclusive property of Employer or its Affiliates. 

6.2 Employee shall not remove from Employer’s premises any confidential information, trade secrets, works for hire or any other
documents pertaining to Employer’s or its Affiliate’s businesses, unless expressly authorized by Employer in writing. Furthermore, Employee specifically covenants and agrees not to make any duplicates, copies, or reconstructions of such
materials and that, if any such duplicates, copies, or reconstructions are made, they shall become the property of Employer or its Affiliate upon their creation. 

  
 Page 5 of 12

 6.3 Upon termination of Employee’s employment with Employer for any reason, Employee
shall turn over to Employer the originals and all copies of any and all papers, documents and things, including information stored for use in or with computers and software, all files, Rolodex cards, phone books, notes, price lists, customer
contracts, bids, customer lists, notebooks, books, memoranda, drawings, computer disks or drives, or other documents: (i) made, compiled by, or delivered to Employee concerning any customer served by Employer or its Affiliate or any product,
apparatus, or process manufactured, used, developed or investigated by Employer or its Affiliate; (ii) containing any confidential information, trade secret or work for hire; or (iii) otherwise relating to Employee’s performance of
duties under this Agreement. Employee further acknowledges and agrees that all such documents are the sole and exclusive property of Employer or its Affiliates. 

6.4 Employee hereby warrants, covenants and agrees that Employee shall not disclose to Employer or any Affiliate, officer, director,
employee or agent of Employer or its Affiliate, any proprietary or confidential information or property, including but not limited to any trade secret, formula, pattern, compilation, program, device, method, technique or process, which Employee is
prohibited by contract, or otherwise, to disclose to Employer (the “Restricted Information”). In the event Employer or its Affiliate requests Restricted Information from Employee, Employee shall advise Employer or its Affiliate that the
information requested is Restricted Information and may not be disclosed by Employee. 
 6.5 The obligations of this Section 6
are continuing and shall survive the termination of Employee’s employment with Employer for any reason. Nothing herein shall prevent Employee from consulting with accountants and attorneys, from disclosing information that is public, or from
using such information described in this Section 6 in any proceeding or litigation to enforce the provisions of, and claims related or made pursuant to, this Agreement. 
  

	7.	RESTRICTIVE COVENANTS. 

 7.1 Employee acknowledges that Employer has and will
continue to provide and expose Employee to certain confidential information, trade secrets, inventions, works of authorship, business relationships and customer relationships possessed by and/or developed by or for Employer or its Affiliates at a
considerable investment of time and expense, such that Employer and/or its Affiliates would be irreparably harmed if the Employee were to improperly use and/or disclose such knowledge with respect to competitors, potential competitors, customers and
other parties. Further, Employee acknowledges that maintaining strong customer relationships is essential to Employer’s and Affiliates’ businesses and that such client relationships are special, unique and required considerable investment
of time and funds to develop. Given Employee’s high level position with Employer and relationship with Affiliates, Employee understands that he will be identified in the mind of customers with the products and services offered by Employer
and/or its Affiliates and will have established personal relationships with customers and accumulated important information about them, such that there is a substantial risk of Employee appropriating Employer’s and/or its Affiliates’
customer goodwill and/or otherwise compromising customer relations, resulting in irreparable harm to Employer and/or its Affiliates. 

7.2 Employee hereby covenants and agrees that through and including December 31, 2014, Employee shall not, directly or indirectly,
either as a principal, agent, employee, employer, consultant, partner, member of a limited liability company, shareholder of a closely held corporation, or shareholder in excess of two per cent (2%) of a publicly traded corporation, corporate
officer or director, manager or in any other individual or representative capacity, 

  
 Page 6 of 12

 
engage, work or otherwise participate in any manner or fashion in any business activity that is in competition in any manner whatsoever with the principal business activities of Employer or its
Affiliates, in or about any market in which Employer or its Affiliates: (i) operate; and/or (ii) plan to operate a hotel, gaming establishment, restaurant and/or nightclub within which Employer or its Affiliates have customer contacts or
good will established or have entered into leases, contracts and/or begun construction related to said planned hotel, gaming establishment, restaurant and/or nightclub operations. 

7.3 Employee hereby further covenants and agrees that, for one (1) year following Employee’s cessation of any continued
employment with Employer, Employee shall not, directly or indirectly, induce or attempt to induce or solicit or attempt to solicit the employment, hiring or engagement of any employee of Employer or its Affiliates, or actually employ, hire or engage
any such employee for Employee’s own purposes or on behalf of any other person or business entity in competition in any manner whatsoever with the principal business activities of Employer and/or its Affiliates: (i) operate; and/or
(ii) plan to operate a hotel, gaming establishment, restaurant and/or nightclub within which Employer or its Affiliates have customer contacts or good will established or have entered into leases, contracts and/or begun construction related to
said planned hotel, gaming establishment, restaurant and/or nightclub operations. 
 7.4 Employee also covenants and agrees that, for
one (1) year following Employee’s cessation of any continued employment with Employer, Employee shall not, directly or indirectly: (i) induce or attempt to induce or solicit or attempt to solicit any customer of Employer or Affiliate
to cease doing business with Employer and/or its Affiliates or otherwise move their business elsewhere; or (ii) interfere or attempt to interfere with the business relationships between any customer and Employer and/or its Affiliates, either
for Employee’s own purposes or on behalf of any other person or business entity in competition in any manner whatsoever with the principal business activities of Employer and/or its Affiliates, in or about any market in which Employer and/or
its Affiliates: (i) operate; and/or (ii) plan to operate a hotel, gaming establishment, restaurant and/or nightclub within which Employer or its Affiliates have customer contacts or good will established or have entered into leases,
contracts and/or begun construction related to said planned hotel, gaming establishment, restaurant and/or nightclub operations. Employee and Employer also agree that the fact that any particular customer does not exclusively utilize the services or
products of the Employer and/or Affiliate, i.e., the customer contracts with third parties for the provision of the same services or products offered by the Employer and/or its Affiliates shall have no bearing on the enforcement of this
subsection. 
 7.5 Non-Disparagement. 

7.5.1 Employee acknowledges and agrees that Employer, Owner and their Affiliates have a reputation for offering high quality services to the
public, and that Employer, Owner and their Affiliates desire to maintain their reputation and receive positive publicity. Accordingly, Employee agrees that he will not directly or indirectly make any oral, written or recorded private or public
statement or comment that is disparaging, or defamatory of Employer, Owner and their Affiliates or any of their respective owners, officers, directors, or shareholders. Disparaging statements include, without limitation, any and all statements or
implications which cast Employer, Owner and their Affiliates or any of their respective owners, officers, directors, shareholders or employees in a negative light. 

7.5.2 Employer, Owner and their Affiliates agree that they, and any of their respective owners, officers, directors, or shareholders, will not
directly or indirectly make any oral, written or recorded private or public statement or comment that is disparaging, or defamatory of Employee. Disparaging statements include, without limitation, any and all statements or implications which cast
Employee in a negative light. 

  
 Page 7 of 12

 7.5.3 Notwithstanding the provisions of subsection 7.5.1 above, Employee, Employer, Owner, and
their Affiliates and any of their respective owners, officers, directors and shareholders are permitted to respond truthfully and fairly in any court, government, regulatory, legal or administrative proceeding, or in response to any request or
inquiry by his employer, including but not limited to requests arising under that company’s ethical guidelines, compliance committee, code of conduct or reporting requirements of the public stock exchange on which the company’s publically
traded stock is traded and the rules and regulations of any governmental entity including the Securities and Exchange Commission, and any gaming regulatory body. 

7.5.4 The obligations of the Parties regarding “disparaging” remarks shall automatically terminate upon the later of: (a) five
(5) years from any termination, or (b) the date that any final payment is due to Employee. 
 7.6 Employee hereby further
covenants and agrees that the restrictive covenants contained in this Section 7 are reasonable as to duration, terms and geographical area and that they protect the legitimate interests of Employer, Owner and/or its Affiliates, impose no undue
hardship on Employee, and are not injurious to the public. Employee further agrees that the duration (time period) associated with the restrictive covenants in Sections 7.0 will be tolled during any period of noncompliance. Therefore, should the
Employer be compelled to seek injunctive relief, the parties envision the court’s order for compliance to provide for a complete period of time, whichever is applicable to the given dispute, and not merely the remaining portion of the
applicable time period. Further, in the event that any of the restrictions and limitations contained in this Section 7 are deemed to exceed the time, geographic or other limitations permitted by Nevada law, the parties agree that a court of
competent jurisdiction shall revise or otherwise “blue-pencil” any offending provisions so as to bring this Section 7 within the maximum time, geographical or other limitations permitted by Nevada law. 

7.7 Notwithstanding anything to the contrary contained herein, the restrictive covenants set forth in this Section 7, shall not
apply in the event: (i) the Employer, Owner or any of their Affiliates fail to pay specified compensation or provide benefits due Employee during the Term, fail to pay amounts due Employee on any termination, fail to pay Employee any
installment of the Consolidation Payment, or fail to comply with the provisions of Section 3.5 for the benefit of Employee or (ii) the Employee gives notice under Section 5.1.5. upon an Acceleration Event. 

 

	8.	REMEDIES. 

 Employee acknowledges that Employer and/or its Affiliates have and will continue to deliver,
provide and expose Employee to certain knowledge, information, practices, and procedures possessed or developed by or for Employer or its Affiliates at a considerable investment of time and expense, which are protected as confidential and which are
essential for carrying out Employer’s or its Affiliate’s business in a highly competitive market. Employee also acknowledges that Employee will be exposed to Confidential Information, Trade Secrets, Works of Authorship, inventions and
business relationships possessed or developed by or for Employer or its Affiliates, and that Employer or its Affiliates would be irreparably harmed if Employee were to improperly use or disclose such items to competitors, potential competitors or
other parties. Employee further acknowledges that the protection of Employer’s and its Affiliates’ customers and businesses is essential, and understands and agrees that Employer’s and its Affiliates’ relationships with its
customers and its employees are special and unique and have 

  
 Page 8 of 12

 
required a considerable investment of time and funds to develop, and that any loss of or damage to any such relationship will result in irreparable harm. Consequently, Employee covenants and
agrees that any violation by Employee of Section 6 or 7 shall entitle Employer and/or its Affiliates to immediate injunctive relief in a court of competent jurisdiction. Employee further agrees that no cause of action for recovery of materials
or for breach of any of Employee’s representations, warranties or covenants shall accrue until Employer or its Affiliate has actual notice of such breach. 
  

	9.	NOTICES. 

 Any and all notices required under this Agreement shall be in writing and shall be either
hand-delivered or mailed, certified mail, return receipt requested, addressed to (as may later be modified): 
  

			
	TO EMPLOYER:	  	SBEHG LAS VEGAS I, LLC d/b/a SLS Las Vegas
		  	Attn: General Counsel
		  	4285 Polaris Avenue
		  	Las Vegas, NV 89103
		
	WITH COPY TO:	  	Terry Fancher
		  	Executive Managing Director
		  	Stockbridge Real Estate Funds
		  	4 Embarcadero Center, 33rd Floor
		  	San Francisco, CA 94111
		
	TO EMPLOYEE:	  	Robert L. Oseland II
		  	212 Satin Mist Court
		  	Las Vegas, NV 89144
		
	WITH COPY TO:	  	Bruce Leslie, Esq.
		  	Bruce A. Leslie, Chtd.
		  	3960 Howard Hughes Pkwy # 500
		  	Las Vegas, NV 89169

 All notices hand-delivered shall be deemed delivered as of the date actually delivered. All notices mailed shall be deemed
delivered as of three (3) business days after the date postmarked. Any changes in any of the addresses listed herein shall be made by notice as provided in this Section 9. 

10. SUPERSEDING AGREEMENT. The Parties hereby expressly covenant and agree, to extinguish and dissolve the 2012 Employment Agreement and 2012 Addendum,
and that this Agreement while immediately binding on the Parties is intended to become effective and implemented as of July 1, 2014 to amend, replace and supersede the 2012 Employment Agreement and 2012 Addendum and any other prior agreements
or understandings, whether formal or informal, between the Parties. 

  
 Page 9 of 12

	11.	REVIEW BY PARTIES AND THEIR LEGAL COUNSEL. 

 11.1 The parties represent that they
have read this Agreement and acknowledge that they have discussed its contents with their respective legal counsel or have been afforded the opportunity to avail themselves of the opportunity to the extent they each wished to do so. 

11.2 Employee has been advised by the Employer that he should consider seeking the advice of counsel in connection with the execution
of this Agreement and Employee has had an opportunity to do so. Employee has read and understands this Agreement, and has sought the advice of counsel to the extent he has determined appropriate. 

11.3 Each person executing this Agreement in a representative capacity represents and warrants that he or she has full power and authority to
execute this Agreement on such entities’ behalf and that this Agreement is binding and enforceable against such entity. 

  
 Page 10 of
12 

 IN WITNESS WHEREOF AND INTENDING TO BE LEGALLY BOUND THEREBY, the Parties hereto have executed and
delivered this Agreement as of the year and date first above written. 
  

			
	SBEHG LAS VEGAS I, LLC	 	EMPLOYEE
		
	 By: /s/ Sam
Nazarian                                        
     
 Name: Sam Nazarian
 Title:
CEO SBE
	 	 By: /s/ Robert L. Oseland
II                                        
      
 Name: Robert L. Oseland II

		
	STOCKBRIDGE/SBE HOLDINGS, LLC	 	SB GAMING, LLC
		
	 By: /s/ Terrence E.
Fancher                                    

Name: Terrence E. Fancher
 Title: Authorized Signatory
	 	 By: /s/ Terrence E.
Fancher                                       
    
 Name: Terrence E. Fancher
 Title:
Chief Executive Officer

  
 Page 11 of
12 

 Schedule 1- Definitions 

 

	 	(a)	“Affiliate” - means with respect to a specified Person, (i) any other Person who or which is: directly or indirectly controlling, controlled by or under common control with the specified
Person; or (ii) any member or manager of the specified Person, that is not an individual. For purposes of this definition only, “control,” “controlling” and “controlled” mean the right to exercise, directly or
indirectly, more than fifty percent (50%) of the voting power of the stockholders, members or owners and, with respect to any partnership, trust or other entity or association, the possession, directly or indirectly, of the power to direct or
cause the direction of, or whose consent is required for, the management or policies of the controlled entity. For purposes hereof, “Person” shall mean an individual, partnership, corporation, limited liability company, trust,
unincorporated association, joint venture existing as of the date of this Agreement. 

  

	 	(b)	“Change of Control” - shall mean the occurrence of any of the following: (1) the beneficial, direct, or indirect acquisition by a Person or Persons that are not a present owner/member of Owner,
parties to this Agreement and/or not an Affiliate of the aforementioned individuals/entities (“Unrelated Persons”) of more than 50% of the ownership, voting power, membership or economic interests of Employer or Owner in a single
transaction or a series of transactions, including but not limited to public offerings, private placements, or sales; (2) the direct or indirect sale, lease or transfer by Employer of substantially all of its assets to one or more Unrelated
Persons in a single transaction or a series of related transactions; (3) the merger, combination, consolidation or reorganization of Employer with or into an Unrelated Person such that Employer’s or Owner’s members, who owned more
than 50% of the voting power of Employer’s voting securities or membership interests immediately before such merger or consolidation, do not own, themselves or together with their Affiliates, more than 50% of the voting power of the issued and
outstanding voting securities or membership interests of the surviving corporation or other entity immediately after such merger, consolidation or reorganization. 

  
 Page 12 of
12EX-10.1

 Exhibit 10.1 

MedAssets Services, LLC 

Separation and Release Agreement 

PLEASE READ CAREFULLY BEFORE SIGNING 

THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS 

This document sets forth the terms of the agreement between you and the Company relating to your separation from employment (the
“Agreement”). This Agreement is between you on the one hand, and MedAssets, Inc., MedAssets Services, LLC, and their subsidiaries and affiliates (collectively, the “Company”) on the other hand. By signing this
Agreement, you and the Company are agreeing to all of the following terms, conditions, representations, promises, and acknowledgements: 
 1. As we have
discussed and agreed, your employment with the Company has ended or will end on March 31, 2015. This is the “Separation Date.” However, your active employment with the Company will end on December 31, 2014.
During the time between December 31, 2014 and the Separation Date (the “Transition Period”), you will have no job duties, except that you will remain available to the Company on a periodic, as-needed basis to assist in the
transition of your job duties, not to exceed one hour per week. During the Transition Period, you shall not come into the office and you are not required to remain close to your Company laptop or to remain at any particular geographic location. 

2. In consideration of your representations, promises, acknowledgements, and other obligations, which you are making or undertaking by signing this Agreement,
the Company will provide you with separation pay in an amount equal to $388,000 (the “Separation Pay”) less statutory and authorized withholdings and deductions. You acknowledge and agree that you are not entitled to
any such payment except as set forth in this Agreement. 
 As you know, you have several restricted stock grants currently outstanding (Award Nos. 728, 540,
352, 967, 1375, 1156). Each of these awards will vest, or, in the case of performance-based awards, be eligible to vest based on actual performance, pursuant to the terms of the Long Term Performance Incentive Plan (the “LTPIP”) and the
applicable award agreements. As such, a number of the restricted stock units (“RSUs”) will have vested by March 1, 2015. Any RSUs not vested by March 1, 2015 shall remain unvested. You are not eligible for any additional equity
grants. 
 3. The Separation Pay will be paid no later than the first pay period immediately following the day on which the Revocation Period, defined in
Section 16 below, elapses without revocation, or the first pay period immediately following the Separation Date, whichever is later. 
 4. In
addition to the Separation Pay, the Company acknowledges its obligation to compensate you for time worked through December 31, 2014 at your current wage rate, less statutory and authorized withholdings and deductions. You acknowledge and agree
that you are not entitled to any salary or other wages for the duration of the Transition Period. If it is later determined by any agency, court, or judicial body having jurisdiction over this matter that you

  
 1 

 
are or were entitled to any salary or other wages during the Transition Period, then an appropriate portion of the Separation Pay, not to exceed one-quarter of it, shall be deemed wages paid for
any and all compensable work performed during the Transition Period, and both parties acknowledge and agree that this amount shall constitute full, fair, and final pay for any and all such work. Accordingly, provided that you receive the Separation
Pay, you would not be entitled to any further compensation for any compensable work deemed to have been performed during the Transition Period. 
 In
addition, as you know, you are eligible to earn an incentive for 2014 performance pursuant to the Company’s Corporate Incentive Plan (“2014 Annual Bonus”). At the time that this Agreement was delivered to you, it was not possible to
calculate the 2014 Annual Bonus you may have actually earned or received with any reasonable certainty. Accordingly, the Company agrees to pay, and you agree to accept, $213,000 in full and final satisfaction of any and all obligations that the
Company may have in relation to the 2014 Annual Bonus. This payment shall be paid pursuant to the Company’s ordinary bonus pay schedule, and in any event no later than March 15, 2015. You are not eligible to earn any other Annual Bonus or
to participate in any other Company-sponsored incentive or bonus programs. 
 5. If you are currently participating in one or more health insurance benefit
plans offered by the Company, your coverage under these plans will end on December 31, 2014. Under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), you have the opportunity to continue current
coverage at your own expense. ADP COBRA Services will mail a COBRA packet to your home address within a few weeks following the Separation Date. If you intend to apply for COBRA benefits, please submit all forms back to ADP COBRA, not to the
Company. You may enroll on line at https://www.benedirect.adp.com/ParticipantWeb/login.jsp. ADP COBRA’s customer service number for participants is 800-526-2720. 

Before electing continuation of benefits under COBRA, you may want to consider and compare health coverage available through the Health Insurance Marketplace
(“Marketplace”). Qualified beneficiaries may be eligible for a premium tax credit (a tax credit to help pay for some or all of the cost of coverage in plans offered through the Marketplace) and cost-sharing reductions (amounts that lower
out-of-pocket costs for deductibles, coinsurance, and copayments), and may find that Marketplace coverage is more affordable than COBRA. Contact ADP COBRA for more information. 

6. No later than the Separation Date, you must return to the Company all documents, files, papers, equipment, and materials that are the property of the
Company, or that relate in any way to the business of the Company, including but not limited to keys, security badges, cellular telephones, laptop computers, Company credit cards, air cards, thumb drives, external hard drives, and any and all other
such items. Except as authorized in a written document signed by a vice president or senior vice president in Human Resources, you are not permitted to retain any copies of these items. 

7. As may be further set forth in any confidentiality agreement that you may have entered into with the Company, you must not directly or indirectly disclose,
reveal, report, publish, or transfer any Confidential Information (defined below) to any person or entity except as set forth in the next sentence. Nothing in this Agreement prohibits you from disclosing information in

  
 2 

 
order to comply with a court order or similar legal process, but you must notify the Company as soon as possible if you believe such disclosure is necessary. “Confidential
Information” generally means any and all information or material (whether or not reduced to writing) that is proprietary to the Company, or that is designated as confidential by the Company, or that is not generally known to non-Company
personnel. “Confidential Information” also includes any trade secret, invention, information, and material that was conceived, originated, discovered, or developed in whole or in part by you, as well as any trade secret, invention,
information, or material about which you obtained knowledge or to which you obtained access as a result of or in connection with your employment relationship with the Company. For clarity, Confidential Information also includes any trade secrets,
inventions, information, and materials which the Company obtains from third parties, including customers and consultants, which the Company treats as proprietary or confidential, whether or not actually owned or developed by the Company. 

8. Except as required by law, or as necessary to comply with the law, or as necessary to fulfill the terms of this Agreement, you shall not knowingly disclose,
privately or publicly, the terms or provisions of this Agreement or even the existence of this Agreement to anyone, other than your attorney and tax advisors for purposes of obtaining their professional services and your spouse, and only on
the condition that they also maintain such information in confidence. 
 9. Because full compliance with all laws and regulations is important to the
Company, you shall cooperate with the Company (including any applicable subsidiary or business unit) with respect to any pending or future litigation or other claim or investigation involving the Company regarding which you have relevant
information. Cooperation, as used herein, means: (1) you shall meet with Company representatives and attorneys at reasonable times and places to discuss facts and other matters related to litigation or other claims (this includes travel to
such locations as requested by the Company at the Company’s expense); (2) you shall appear and provide testimony if requested by the Company (this includes travel to such locations as requested by the Company at the Company’s
expense); and (3) if you ever testify in any litigation or other claim against the Company, you shall provide full, complete, and truthful testimony, with no expectation of additional compensation except the expense reimbursement described
above. 
 10. All restrictions on “Competitive Activities” as set forth in the Executive Employment Agreement shall expire or have expired on
December 31, 2016. In addition, all restrictions on Interfering Activities as set forth in the Executive Employment Agreement shall expire or have expired on December 31, 2016, except that all restrictions pertaining to the solicitation of
employees shall remain in effect until March 31, 2018. Regardless of the existence or expiration of those restrictions, you agree that you will not make such statements or take such action as will slander, libel, or defame the Company, any of
its products, or any of its directors, officers, or employees. 
 11. In exchange for the Separation Pay, you hereby release any and all claims arising out
of your employment with the Company and your separation from employment with the Company, in accordance with subsections a, b, c, d, and e of this Section 11. 
  

	 	a.	 THE “RELEASED ENTITIES” INCLUDE THE
COMPANY, ITS CUSTOMERS, AND THEIR RESPECTIVE SUBSIDIARIES, RELATED COMPANIES, PARENTS,
SUCCESSORS, ASSIGNS, OFFICERS, DIRECTORS, AGENTS, EMPLOYEES AND FORMER EMPLOYEES. FOR
AND 

  
 3 

	 	
ON BEHALF OF YOURSELF AND YOUR HEIRS, EXECUTORS,
ADMINISTRATORS, SUCCESSORS, AND ASSIGNS, YOU HEREBY FOREVER RELEASE AND DISCHARGE
THE RELEASED ENTITIES FROM ANY AND ALL CLAIMS, DEBTS, PROMISES, AGREEMENTS,
DEMANDS, CAUSES OF ACTION, ATTORNEYS’ FEES, LOSSES AND EXPENSES OF EVERY
NATURE WHATSOEVER, KNOWN OR UNKNOWN, SUSPECTED OR UNSUSPECTED, FILED OR UNFILED,
ARISING PRIOR TO THE EFFECTIVE DATE OF THIS AGREEMENT. THIS INCLUDES
ANY AND ALL CLAIMS OR DEMANDS ARISING DIRECTLY OR INDIRECTLY OUT OF
OR IN CONNECTION WITH YOUR EMPLOYMENT WITH THE COMPANY, ARISING OUT
OF OR IN CONNECTION WITH ANY WORK YOU MAY HAVE PERFORMED FOR
ANY CUSTOMER, AND THE TERMINATION OF THAT EMPLOYMENT OR WORK. This total release includes but
is not limited to any and all claims or demands relating to wages, salary, bonuses, commissions, stock, stock options, vacation pay, fringe benefits, and expense reimbursements; any and all claims or demands arising under any federal, state, or
local law or cause of action, including, but not limited to, breach of contract, negligent or intentional infliction of emotional harm, wrongful discharge, retaliation, violation of public policy, defamation, impairment of economic opportunity,
breach of implied covenant of good faith and fair dealing, and promissory estoppel; any and all claims or demands for violation of Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Civil Rights Act of 1866, 42 U.S.C.
§ 1981, the Americans with Disabilities Act of 1990, the Rehabilitation Act, the Family and Medical Leave Act of 1993, the Equal Pay Act, Executive Order 11246, the Fair Labor Standards Act, the Genetic Information Non-Disclosure Act,
USERRA, WARN Act (each as amended, if amended); any and all Texas or other local laws, regulations, or executive orders pertaining to employment discrimination, equal pay, retaliation, whistleblowers, workers’ compensation, civil rights; and
any and all other federal, state, or local employment or anti-discrimination laws. By executing this Agreement, you also release any and all claims under the Age Discrimination in Employment Act of 1967 (“ADEA”), as amended, a federal
statute which, among other things, prohibits discrimination on the basis of age in employment and employee benefit plans. 

  

	 	b.	You hereby agree that you will never file a lawsuit against any Released Entity with regard to any claims or liabilities released in this Agreement. You further agree not to accept, recover, or receive any monetary
damages or any other form of relief which may arise out of or relate to any administrative remedies, whether pursued independently or by any federal, state, or local government agency or branch. 

 

	 	c.	If any claim is not subject to release, then to the extent permitted by law, you waive any right or ability to be a class or collective action representative or to otherwise participate in any putative or certified
class, collective, or multi-party action or proceeding based on such a claim in which any Released Entity is a party. 

  

	 	d.	You acknowledge that this release is intended to include, without limitation, claims and causes of action which you may have but about which you do not know or do not suspect to exist at the time of your execution of
this Agreement. This Agreement contemplates extinguishment of all such claims and causes of action. 

  
 4 

	 	e.	Nothing in this Agreement shall constitute or be construed as a release of your rights to any vested amounts you may have in the Company’s retirement plan. 

12. You hereby acknowledge and agree that: 
  

	 	a.	This Agreement is intended to be legally binding and enforceable; 

  

	 	b.	You have the right to legal counsel, and you are advised to consult with legal counsel of your choosing before entering into this Agreement; 

 

	 	c.	You are advised to seek tax advice from your own tax advisors regarding any payments that may be made to you pursuant to this Agreement; 

 

	 	d.	The Company has not provided any legal or tax advice to you in connection with this Agreement; and 

  

	 	e.	You shall be solely responsible for your own attorney’s fees and tax advisors’ fees. 

 13. You
acknowledge and agree that except as clearly stated in this Agreement, the Company shall have no obligations to you, financial or otherwise. You further agree that this Agreement sets forth the full understanding and agreement between you and the
Company with regard to these matters and supersedes any prior agreements, understandings or negotiations respecting such matters. The terms of this Agreement shall inure to the benefit of and be binding upon your heirs, representatives, successors
and assigns. If any provision of this Agreement is held by a court or arbitrator to be unlawful or unenforceable the remaining provisions of this Agreement will remain in full force and effect. This Agreement may not be modified except by written
agreement signed by both you and the Company. 
 14. You understand that neither this Agreement nor anything in it shall be considered as any admission by
the Company of any preexisting obligation or improper conduct whatsoever, except for the wage payment obligation described in Section 4. You understand that the Company denies any such obligations or improper conduct. 

15. By signing this Agreement, you certify that: 
  

	 	a.	You have carefully read and fully understand the provisions of this Agreement, including the portions relating to the release and waiver of all claims, known and unknown, that exist as of the time you sign this
Agreement; 

  

	 	b.	The Company has advised you, via this Agreement, to consult with an attorney before signing this Agreement, if you so desire; 

  

	 	c.	This Agreement was delivered to you on or before December 1, 2014, and you were given at least 21 days to consider this Agreement before accepting its terms and signing it; 

  
 5 

	 	d.	You agree to the terms of this Agreement knowingly, voluntarily, and without intimidation, coercion, or inappropriate pressure; 

  

	 	e.	You have been reimbursed for all expenses to which you are entitled; 

  

	 	f.	You have reported to the Company all injuries or illnesses, if any, that you incurred at work or because of your work with or for the Company, and with or for any of the Company’s customers; 

 

	 	g.	You affirm that all of the Company’s decisions regarding your pay and benefits through the Separation Date were not discriminatory based on age, disability, race, color, sex, sexual orientation, gender identity,
pregnancy, marital status, veteran status, religion, national origin; or any other classification protected by law; 

  

	 	h.	You have been paid for all salary, wages and bonuses to which you are entitled; 

  

	 	i.	You have reported to the Company any and all allegations of wrongdoing by the Company or its officers of which you have any knowledge, including any allegations of corporate fraud; 

 

	 	j.	You have not been retaliated against for reporting any allegations of wrongdoing by the Company or its officers, including any allegations of corporate fraud; 

 

	 	k.	You had or could have the entire Review Period (as defined below) in which to review and consider this Agreement, and if you execute this Agreement prior to the expiration of the Review Period, you have voluntarily and
knowingly waived the remainder of the Review Period; 

  

	 	l.	You affirm that you are in possession of all of your own property that you had on or at the Company’s premises and that the Company is not in possession of any of your property; and 

 

	 	m.	You affirm that you have been provided and/or have not been denied any leave requested under federal or state law. 

16. You have until December 22, 2014 (the “Review Period”) to review and consider this Agreement. 

 

	 	a.	If it is your decision to enter into this Agreement, and accept its terms and conditions, then prior to the expiration of the Review Period, you must execute this Agreement where indicated below and return the executed
copy to the attention of Mary Simmons in Human Resources. 

  

	 	b.	 This Agreement will not be effective or enforceable for the first seven calendar days immediately following the date of its execution
(the “Revocation Period”). During the Revocation Period, you may revoke your acceptance of this Agreement by notifying the Company in writing only by one of the following

  
 6 

	 	
methods: by delivery in writing to MedAssets Services, LLC, “Attention: Mary Simmons,” 5543 Legacy Drive, Plano, Texas 75024, or to msimmons@MedAssets.com. In order for any
revocation to be effective, a proper notice of revocation must be received by Ms. Simmons no later than 5:00p.m. Central Time on the seventh calendar day following execution of this Agreement. 

 

	 	c.	Provided that the Agreement is timely executed and you do not revoke it, its effective date shall be the eighth day following the date on which this Agreement is executed. If you do not execute and deliver this
Agreement prior to the expiration of the Review Period, or if you revoke this Agreement during the Revocation Period, this Agreement will be null and void and of no effect, and the Company will have no obligation to pay any Separation Pay.

  

					
	Accepted and Agreed by:	 		 	
			
	 /s/ Keith Thurgood
	 		 	 12/20/2014

	Keith Thurgood	 		 	Date
			
	MedAssets Services, LLC	 		 	
			
	 /s/ Mary Simmons
	 		 	 1/2/2015

	Mary Simmons	 		 	Date
	Vice President Human Resources	 		 	

  
 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]