Document:

EX-10.8

 Exhibit 10.8 

MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP 

CHANGE OF CONTROL POLICY FOR EXECUTIVE
OFFICERS 
 ADOPTED: APRIL 19, 2016 

 MGM GROWTH PROPERTIES OPERATING
PARTNERSHIP LP 
 CHANGE OF CONTROL POLICY
FOR EXECUTIVE OFFICERS 
 1. Definitions 

For purposes of the Change of Control Policy for Executive Officers, the following terms are defined as set forth below (unless the context
clearly indicates otherwise): 
  

			
	Administrator	  	The third-party accounting, actuarial, consulting or similar firm which shall be retained by the Company prior to a Change of Control to administer this Policy following a Change of Control.
		
	Annual Base Salary	  	The Participant’s base salary as in effect as of the date of a Change of Control.
		
	Board	  	The Board of Managers of MGM Growth Properties OP GP LLC, a Delaware limited liability company, which is the general partner of the Company.
		
	Change of Control	  	 “Change of Control” means, with respect to (x) MGP or (y) provided that it directly or indirectly controls, is controlled by or is
under common control with MGP at the relevant time, MGM (each of (x) and (y), a “Referenced Entity”), the first to occur of:
  

(1) the date that a reorganization, merger, consolidation, recapitalization, or similar transaction (other than a spinoff, exchange offer or similar
transaction to or with the applicable Referenced Entity’s public shareholders) is consummated, unless: (i) at least 50% of the outstanding voting securities of the surviving or resulting entity (including, without limitation, an entity which as
a result of such transaction owns the Company either directly or through one or more subsidiaries) (“Resulting Entity”) are beneficially owned, directly or indirectly, by the persons who were the beneficial owners of the outstanding voting
securities of the Corporation immediately prior to such transaction in substantially the same proportions as their beneficial ownership, immediately prior to such transaction, of the outstanding voting securities of the Corporation and (ii)
immediately following such transaction no person or persons acting as a group beneficially owns capital stock of the Resulting Entity possessing thirty-five percent (35%) or more of the total voting power of the stock of the Resulting Entity;

 
 (2) the date that a majority of members of the Referenced Entity’s Board is replaced
during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Referenced Entity’s Board before the date of the appointment or election; provided that no individual shall be
considered to be so endorsed if such individual initially assumed office as a result of either an actual or threatened “Election Contest” (as described in Rule 14a-11 promulgated under the Securities Exchange Act of 1934) or other actual
or threatened solicitation of

			
		  	 proxies or consents by or on behalf of a Person other than the Referenced Entity’s Board (a “Proxy Contest”) including by
reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest;
  

(3) the date that any one person, or persons acting as a group, acquires (or has or have acquired as of the date of the most recent acquisition by such person
or persons) beneficial ownership of stock of the Referenced Entity possessing thirty-five percent (35%) or more of the total voting power of the stock of the Referenced Entity; or

 
 (4) the date that any one person acquires, or persons acting as a group acquire (or has or
have acquired as of the date of the most recent acquisition by such person or persons), assets from the Referenced Entity that have a total gross fair market value equal to or more than forty percent (40%) of the total gross fair market value of all
of the assets of the Referenced Entity immediately before such acquisition or acquisitions.
  

For the avoidance of doubt, there can only be one Change of Control for purposes of the Policy.

		
	Code	  	The Internal Revenue Code of 1986, as amended from time to time.
		
	Company	  	MGM Growth Properties Operating Partnership LP, a Delaware limited partnership, or any successor thereto.
		
	Current Employment Agreement	  	The Participant’s employment agreement with the Company or any of its affiliates (including, without limitation, any Parent or Subsidiary) in effect as of the applicable date of determination, if any.
		
	Date of Termination	  	 If the Participant’s employment is terminated by:
  

(i) the Employer with Employer’s Good Cause or by the Participant for Participant’s Good Cause, the Date of Termination shall be the date on which
the Participant or the Employer, as the case may be, receives the Notice of Termination (as described in Section 3.2(b)) or any later date specified therein, as the case may be.

 
 (ii) the Employer without Employer’s Good Cause or by the Participant without
Participant’s Good Cause, the Date of Termination shall be the date on which the Employer or the Participant, as applicable, notifies the other party of such termination.
  

Notwithstanding the above, in the event that the Participant’s employment is terminated within six months prior to a Change of Control under circumstances
entitling the Participant to the benefits described in Section 3 hereof were such termination of employment within the period commencing on the Change of Control and ending on the one-year anniversary thereof, the Participant’s Date of
Termination for purposes of Section 3 hereof shall be the

  
 2 

			
		  	date of the Change of Control.
		
	Effective Date	  	April 19, 2016.
		
	Employer	  	As applicable, the Company, the Subsidiaries, any Parent and any affiliated companies.
		
	Employer’s Good Cause	  	As defined in Section 3.2(a).
		
	Excise Tax	  	The excise tax imposed by Section 4999 of the Code, together with any interest or penalties imposed with respect to such excise tax.
		
	Executive Officer	  	Any executive officer of the Company.
		
	MGM	  	MGM Resorts International, a Delaware corporation, and any successor entity.
		
	MGP	  	MGM Growth Properties LLC, a Delaware limited liability company, and any successor entity.
		
	Net After-Tax Benefit	  	The present value (as determined in accordance with Sections 280G(b)(2)(A)(ii) and 280G(d)(4) of the Code) of a Participant’s Payments less any Federal, state, and local income taxes and any Excise Tax payable on such
amount.
		
	Parent	  	A parent corporation as defined in Section 424(e) of the Code.
		
	Participant	  	An Executive Officer who meets the eligibility requirements of Section 2.1.
		
	Participant’s Good Cause	  	As defined in Section 3.2(a).
		
	Payment	  	Any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of the Participant, whether paid or payable pursuant to this Policy or otherwise.
		
	Policy	  	This MGM Growth Properties Operating Partnership LP Change of Control Policy for Executive Officers.
		
	Separation Benefits	  	The amounts and benefits payable or required to be provided in accordance with Section 3.3 of this Policy.
		
	Subsidiary	  	A subsidiary corporation of the Company as defined in Section 424(f) of the Code or corporation or other entity, whether domestic or foreign, direct or indirect, in which the Company has or obtains a proprietary interest of more
than fifty percent (50%) by reason of stock ownership or otherwise.

  
 3 

			
	Target Bonus	  	The annual target bonus award for which a Participant is eligible under the Company’s Annual Performance-Based Incentive Plan for Executive Officers, or any successor plan, as in effect as of the date of a Change of Control
(or, if greater, as of the Date of Termination).

 2. Eligibility 
 2.1.
Participation. Each Executive Officer set forth on Schedule A hereto shall be a Participant subject to the Policy effective as of the Effective Date and each other employee added to Schedule A by the Board from time to time shall become a
Participant subject to the Policy effective as of the date of such Board action. 
 2.2. Duration of Participation. A Participant shall cease to be a
Participant subject to the Policy if (i) the Participant terminates employment with the Employer under circumstances not entitling him or her to Separation Benefits or (ii) the Board determines that Participant shall cease to be subject to
the Policy prior to the occurrence of a Change of Control, provided that no Executive Officer may be so removed from Policy participation subsequent to or in connection with a Change of Control that actually occurs. In the event that a Participant
is removed from the Policy pursuant to the preceding sentence, the Company shall, effective as of the date of such removal, amend the terms of any equity award or other agreement between the Company and such Participant, to the minimum extent
necessary, to avoid the imposition of any additional taxes and/or penalties under Section 409A of the Code on such Participant as a result of such removal. Additionally, in the event that a Participant was removed from Policy participation in
the six months prior to a Change of Control, such Participant will be deemed retroactively eligible to participate in the Policy. Furthermore, a Participant who is entitled to receive benefits under the Policy shall remain a Participant subject to
the Policy until the amounts and benefits payable pursuant to the Policy have been paid or provided to the Participant in full. 
 3. Separation
Benefits 
 3.1. Right to Separation Benefits. A Participant shall be entitled to receive from the Employer the Separation Benefits as provided in
Section 3.3, if a Change of Control occurs and the Participant’s employment with the Employer is terminated under circumstances specified in Section 3.2(a) during the period commencing on the date that is six months prior to such
Change of Control and ending on the first anniversary of such Change of Control. Termination of employment shall have the same meaning as “separation from service” within the meaning of Treasury Regulation § 1.409A-1(h). 

3.2. Termination of Employment. 
  

	(a)	Terminations which give rise to Separation Benefits under this Policy. The circumstances specified in this Section 3.2(a) are any termination of employment with the Employer by action of the Employer
without Employer’s Good Cause (and not by reason of Participant’s death or disability) or by a Participant with Participant’s Good Cause. 

(x) For purposes of this Policy, “Employer’s Good Cause” shall have the following meaning, regardless of the definition given
such term in any Current Employment Agreement: 

  
 4 

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

  

	 	(ii)	Participant’s failure or inability to apply for and obtain any license, qualification, clearance or other similar approval which the Employer or any regulatory authority which has jurisdiction over the Employer
requests or requires that the Participant obtain; 

  

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

 

	 	(iv)	Any of the Employer’s gaming business licenses are threatened to be, or are, denied, curtailed, suspended or revoked as a result of the Participant’s employment by the Employer or as a result of the
Participant’s actions. 

 (y) For purposes of this Policy, “Participant’s Good Cause” shall have the
following meaning, regardless of the definition given such term in any Current Employment Agreement: 
  

	 	(i)	The failure of Employer to pay Participant any compensation when due; or 

  

	 	(ii)	A material reduction in the scope of duties or responsibilities of Participant or any reduction in Participant’s salary or Target Bonus. 

Within ten (10) days following the first occurrence of circumstances constituting Participant’s Good Cause, the Participant shall
give the Employer thirty (30) days’ advance written notice specifying the facts and circumstances of the alleged breach. During such thirty (30) day period, the Employer may either cure the breach (in which case such notice will be
considered withdrawn) or declare (to the Participant in writing) that the Employer disputes that Participant’s Good Cause exists, in which case Participant’s Good Cause shall not exist until the dispute is resolved in accordance with the
methods for resolving disputes specified in Exhibit A hereto. 
  

	(b)	 Notice of Termination. Any termination of employment initiated by the Employer for Employer’s Good
Cause, or by the Participant for Employee’s Good Cause, shall be communicated by a Notice of Termination to the other party. For purposes of this Policy, a “Notice of Termination” means a written notice which (i) indicates the
specific 

  
 5 

 
termination provision in this Policy relied upon, and (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of
the Participant’s employment under the provision so indicated. The failure by the Participant or the Employer to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Employer’s Good Cause or
Employee’s Good Cause shall not waive any right of the Employer or the Participant, respectively, hereunder or preclude the Employer or the Participant, respectively, from asserting such fact or circumstance in enforcing the Employer’s or
the Participant’s rights hereunder. 
 3.3. Separation Benefits. 
  

	(a)	If a Participant’s employment is terminated under the circumstances set forth in Section 3.2(a) entitling the Participant to Separation Benefits: 

 

	 	(i)	The Employer shall pay to the Participant, in a lump sum in cash within 30 days after the Date of Termination, or on such earlier date as required by applicable law, the sum of (i) the Participant’s Annual
Base Salary through the Date of Termination to the extent not theretofore paid, (ii) any bonus attributable to the Company’s most recently completed fiscal year to the extent not previously paid, and (iii) any accrued vacation pay, in
each case to the extent not theretofore paid. 

  

	 	(ii)	In addition, if the Participant executes the general release of claims described in Section 3.5 within 21 days following the Date of Termination, then, contingent upon the expiration of any revocation period
provided in such release and subject to Section 7.6, within 30 days following the Date of Termination, the Participant shall become entitled to the following benefits (the “Separation Benefits”): 

(1) The Employer shall pay to the Participant, in a lump sum in cash within 30 days after the Date of Termination, an amount
(“Separation Pay”) equal to the product of (A) two and (B) the sum of (x) the Participant’s Annual Base Salary and (y) the Participant’s Target Bonus; provided, however, that the Separation Pay amount pursuant
to this clause (b) shall not exceed $4,000,000 per Participant (or, in the case of a Participant who served as the Chief Executive Officer of the Company at any point within the six (6) months prior to the Change of Control (not taking
into account any change in title that would qualify as Employee’s Good Cause), $10,000,000). 
 (2) The Employer also
shall pay to the Participant, in a lump sum in cash within 30 days after the Date of Termination, an amount (“Benefits Pay”) equal in value to 24 months of continued health and other insurance benefits provided by the Employer to the
Participant immediately prior to the Change of Control (or, if greater, as of the Date of Termination). 
  

	(b)	 If a Participant’s employment is terminated under the circumstances set forth in Section 3.2(a)
entitling the Participant to Separation Benefits and such termination of employment occurs prior to the occurrence of a Change of Control, the Participant’s benefits under this Policy as described in this Section 3.3 shall commence upon
the occurrence of the Change of Control (or such later date as may be required pursuant to 

  
 6 

	 	
Section 409A of the Code) and (i) shall be reduced by any severance compensation or benefits the Participant was entitled to and received as a result of such termination of employment
prior to the Change of Control under any other agreement between the Participant and the Company or any other Company plan or policy, and (ii) shall replace and supersede any severance compensation or benefits the Participant would otherwise
receive pursuant to such other agreement, plan or policy following the date of the Change of Control. 

 3.4. Excise Tax. Unless
otherwise provided in a Current Employment Agreement, notwithstanding anything in this Policy to the contrary, in the event it shall be determined that any Payment would be subject to the Excise Tax, and if the Participant’s Net After-Tax
Benefit would be greater if the amount of the Payments was one dollar less than the smallest amount that would give rise to any Excise Tax (the “Reduced Amount”), then the amount of the Payments will be reduced to the Reduced Amount. The
Company and its affiliates shall bear no responsibility for any Excise Tax payable on any Reduced Amount pursuant to a subsequent claim by the Internal Revenue Service or otherwise. For purposes of determining the Reduced Amount under this
Section 3.4, amounts otherwise payable to the Participant shall be reduced such that the reduction of compensation to be provided to the Participant as a result of this Section 3.4 is minimized. In applying this principle, the reduction
shall be made in a manner consistent with the requirements of Section 409A of the Code and where two economically equivalent amounts are subject to reduction but payable at different times, such amounts shall be reduced on a pro rata basis but
not below zero. All determinations required to be made under this Section 3.4, including whether a Reduced Amount or a Net After-Tax Benefit is payable, and the assumptions to be utilized in arriving at such determinations, shall be made by the
Company’s independent auditors or such other nationally recognized certified public accounting firm as may be designated by the Company and approved by the Participant (the “Accounting Firm”), which shall provide detailed supporting
calculations both to the Company and the Participant within 15 business days of the receipt of notice from the Participant that there has been a Payment, or such earlier time as is requested by the Company. All fees and expenses of the Accounting
Firm shall be borne solely by the Company. Any determination by the Accounting Firm shall be binding upon the Company, its Affiliates and the Participant. 

3.5. Payment Obligations Absolute. Upon a Change of Control and termination of employment under the circumstances described in Section 3.2(a),
subject to Participant’s execution of a general release, the obligations of the Employer to pay or provide the Separation Benefits described in Section 3.3 shall be absolute and unconditional and shall not be affected by any circumstances,
including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Employer may have against any Participant. In no event shall a Participant be obligated to seek other employment or take any other action by way
of mitigation of the amounts payable to a Participant under any of the provisions of this Policy, nor shall the amount of any payment or value of any benefits hereunder be reduced by any compensation or benefits earned by a Participant as a result
of employment by another employer. 
 3.6. General Release of Claims; Compliance With Restrictive Covenants. Upon a Change of Control and termination
of employment under the circumstances described in Section 3.2(a), the obligations of the Employer to pay or provide the Separation Benefits described in Section 3.3 are contingent on: 

  
 7 

	(a)	the Participant’s (for him/herself, his/her heirs, legal representatives and assigns) agreement to execute a general release in the form and substance to be provided by Employer, releasing the Employer, its
affiliated companies and their officers, directors, agents and employees from any claims or causes of action of any kind that the Participant might have against any one or more of them as of the date of the release, regarding his/her employment or
the termination of that employment; and 

  

	(b)	the Participant’s continued compliance with any restrictive covenants (including, without limitation, noncompetition, nonsolicitation, nondisclosure, intellectual property assignment and confidentiality covenants),
whether set forth in the Current Employment Agreement or elsewhere, that are binding on the Participant following termination of the Participant’s employment with the Employer (or, if no such restrictive covenants are otherwise in effect, as
may be set forth in the release described in clause (a) above consistent with the restrictive covenants set forth in the Current Employment Agreements of other Participants), and in the event that a Participant breaches any such restrictive
covenant, the Participant shall have no further right to Separation Benefits pursuant to this Policy, and any Separation Benefits previously provided to the Participant shall be subject to clawback by the Employer. 

3.7. Non-Exclusivity of Rights; Non-Duplication of Benefits. Nothing in this Policy shall prevent or limit the Participant’s continuing or future
participation in any plan, program, policy or practice provided by the Employer and for which the Participant may qualify, nor shall anything herein limit or otherwise affect such rights as the Participant may have under any contract or agreement
with the Employer; provided, however, that in the event the Participant becomes eligible for Severance Benefits hereunder, the Participant shall cease to be eligible for severance or termination benefits under any Current Employment Agreement or any
other contract or agreement with the Employer that might otherwise apply. 
 4. Treatment of Equity Awards. In the event that a Participant
holds any equity award (whether issued pursuant to the MGM Growth Properties LLC 2016 Omnibus Incentive Plan or otherwise) at the time of a Change of Control, such award shall be eligible to accelerate and vest as and to the extent provided in the
applicable plan and/or award agreement governing the terms of such award. 
 5. Successor to Company 

5.1. This Policy shall bind any successor of the Company, its assets or its businesses (whether direct or indirect, by purchase, merger, consolidation or
otherwise), in the same manner and to the same extent that the Company or its Subsidiaries would be obligated under this Policy if no succession had taken place. 

5.2. In the case of any transaction in which a successor would not by the foregoing provision or by operation of law be bound by this Policy, the Company
shall require such successor expressly and unconditionally to assume and agree to perform the Company’s or its Subsidiaries’ obligations under this Policy, in the same manner and to the same extent that the Company would be required to
perform if no such succession had taken place. The term “Company,” as 

  
 8 

 
used in this Policy, shall mean the Company as hereinbefore defined and any successor or assignee to the business or assets which by reason hereof becomes bound by this Policy. 

6. Duration, Amendment and Termination 
 6.1.
Duration. This Policy shall remain in effect until terminated as provided in Section 6.2. Notwithstanding the foregoing, if a Change of Control occurs, this Policy shall continue in full force and effect and shall not terminate or expire
until after all Participants who become entitled to any payments or benefits hereunder shall have received such payments or benefits in full. 
 6.2.
Amendment and Termination. The Policy may be terminated or amended in any respect by resolution adopted by the Board prior to the occurrence of a Change of Control. However, after the Board has knowledge of a possible transaction or event
that if consummated would constitute a Change of Control, this Policy may not be terminated or amended in any manner which would adversely affect the rights or potential rights of Participants, unless and until the Board has determined that all
transactions or events that, if consummated, would constitute a Change of Control have been abandoned and will not be consummated, and, provided that, the Board does not have knowledge of other transactions or events that, if consummated, would
constitute a Change of Control. If a Change of Control occurs, the Policy shall no longer be subject to amendment, change, substitution, deletion, revocation or termination in any respect that adversely affects the rights of Participants, and no
Participant shall be removed from Policy participation. 
 7. Miscellaneous 

7.1. Legal Fees. The Employer agrees to pay, to the full extent permitted by law, all reasonable legal fees and expenses which the Participant may
reasonably incur as a result of any contest by the Employer, the Participant or others of the validity or enforceability of, or liability under, any provision of this Policy or any guarantee of performance thereof (including as a result of any
contest by the Participant about the amount of any payment pursuant to this Policy); provided that the Employer shall have no obligation under this Section 7.1 to the extent the resolution of any such contest includes a finding denying, in
total, the Participant’s claims in such contest. Such fees and expenses shall be paid within thirty (30) days following an invoice from the Participant to the Company following the initial resolution of any contest. 

7.2. Employment Status. This Policy does not constitute a contract of employment or impose on the Participant, the Company or the Participant’s
Employer any obligation to retain the Participant as an employee or to change the Employer’s policies regarding termination of employment. 
 7.3.
Tax Withholding. The Employer may withhold from any amounts payable under this Policy such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

7.4. Validity and Severability. The invalidity or unenforceability of any provision of the Policy shall not affect the validity or enforceability of
any other provision of the Policy, which shall remain in full force and effect, and any prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

  
 9 

 7.5. Governing Law. The validity, interpretation, construction and performance of the Policy shall in all
respects be governed by the laws of the State of Delaware, without reference to principles of conflict of law. 
 7.6. Section 409A of the Code.
Notwithstanding anything herein to the contrary: 
  

	(a)	The Policy shall be interpreted, construed and operated to reflect the intent of the Company that all aspects of the Policy shall be interpreted either to be exempt from the provisions of Section 409A of the Code
or, to the extent subject to Section 409A of the Code, comply with Section 409A of the Code and any regulations and other guidance thereunder. This Policy may be amended at any time, without the consent of any Participant, to avoid the
application of Section 409A of the Code in a particular circumstance or to the extent determined necessary or desirable to satisfy any of the requirements under Section 409A of the Code, but the Employer shall not be under any obligation
to make any such amendment. Nothing in the Policy shall provide a basis for any person to take action against the Employer based on matters covered by Section 409A of the Code, including the tax treatment of any award made under the Policy, and
the Employer shall not under any circumstances have any liability to any Participant or other person for any taxes, penalties or interest due on amounts paid or payable under the Policy, including taxes, penalties or interest imposed under
Section 409A of the Code. 

  

	(b)	To the extent that any payment or benefit pursuant to this Policy constitutes a “deferral of compensation” subject to Section 409A of the Code (after taking into account to the maximum extent possible any
applicable exemptions) (a “409A Payment”) treated as payable upon a separation from service (as defined under Section 409A of the Code, then, if on the date of the Participant’s separation from service, the Participant is a
specified employee (as defined under Section 409A of the Code), then to the minimum extent required for the Participant not to incur additional taxes pursuant to Section 409A of the Code, no such 409A Payment shall be made to the
Participant sooner than the earlier of (i) six (6) months after the Participant’s separation from service; or (ii) the date of the Participant’s death, at which time all such delayed payments shall be paid in lump sum
without interest. 

  

	(c)	No 409A Payment payable under this Policy shall be subject to acceleration or to any change in the specified time or method of payment, except as otherwise provided under this Policy and consistent with
Section 409A. If under this Policy, a 409A Payment is to be paid in two or more installments, for purposes of Section 409A, each installment shall be treated as a separate payment. Moreover, if the Company determines in good faith that any
provision of this Policy has the effect of impermissibly delaying or accelerating any payment schedule initially set forth in any applicable employment agreement or equity award, the applicable provision (or part thereof) of this Policy shall be
disregarded and have no force or effect and the payment schedule shall be governed by the applicable provision of the applicable employment agreement or equity award agreement. 

7.7. Claim Procedure. If a Participant makes a written request alleging a right to receive Separation Benefits under the Policy or alleging a right to
receive an adjustment in benefits being paid under the Policy, the Company shall treat it as a claim for benefits. All claims for 

  
 10 

 
Separation Benefits under the Policy shall be sent to the General Counsel of the Company and must be received within 30 days after the Date of Termination. If the Company determines that any
individual who has claimed a right to receive Separation Benefits under the Policy is not entitled to receive all or a part of the benefits claimed, it will inform the claimant in writing of its determination and the reasons therefore in terms
calculated to be understood by the claimant. The notice will be sent within 90 days of the written request, unless the Company determines additional time, not exceeding 90 days, is needed and provides the Participant with notice, during the initial
90-day period, of the circumstances requiring the extension of time and the length of the extension. The notice shall make specific reference to the pertinent Policy provisions on which the denial is based, and describe any additional material or
information that is necessary. Such notice shall, in addition, inform the claimant what procedure the claimant should follow to take advantage of the review procedures set forth below in the event the claimant desires to contest the denial of the
claim. The claimant may within 90 days thereafter submit in writing to the Administrator a notice that the claimant contests the denial of his or her claim by the Company and desires a further review. The Administrator shall within 60 days
thereafter review the claim and authorize the claimant to appear personally and review the pertinent documents and submit issues and comments relating to the claim to the persons responsible for making the determination on behalf of the
Administrator. The Administrator will render its final decision with specific reasons therefor in writing and will transmit it to the claimant within 60 days of the written request for review, unless the Administrator determines additional time, not
exceeding 60 days, is needed, and so notifies the Participant during the initial 60-day period. The Board may revise the foregoing procedures as it determines necessary to comply with changes in the applicable U.S. Department of Labor regulations.

 7.8. Unfunded Status. This Policy is intended to be an unfunded plan and to qualify as a severance pay plan within the meaning of Department of
Labor regulations Section 2510.3-2(b). All payments pursuant to the Policy shall be made from the general funds of the Employer and no special or separate fund shall be established or other segregation of assets made to assure payment. No
Participant or other person shall have under any circumstances any interest in any particular property or assets of the Employer as a result of being subject to the Policy. Notwithstanding the foregoing, the Board may authorize the creation of
trusts or other arrangements to assist in accumulating funds to meet the obligations created under the Policy; provided, however, that, unless the Board otherwise determines, the existence of such trusts or other arrangements is consistent with the
“unfunded” status of the Policy. 
 7.9. Reliance on Adoption of Policy. Subject to Section 6.2, each person who shall become a
Participant shall be deemed to have served and continue to serve in such capacity in reliance upon the Change on Control provisions contained in this Policy. 

  
 11 

 SCHEDULE A 
  

	1.	James Stewart 

  

	2.	Andrew Chien 

  
 12 

 EXHIBIT A 

ARBITRATION 
 This Exhibit A sets forth the
methods for resolving disputes should any arise under the Policy, and accordingly, this Exhibit A shall be considered a part of the Policy. 
  

	1.	Except for a claim by either Participant or the Company for injunctive relief where such would be otherwise authorized by law, any controversy or claim arising out of or relating to the Policy or the breach hereof
including without limitation any claim involving the interpretation or application of the Policy, shall be submitted to binding arbitration in accordance with the employment arbitration rules then in effect of the Judicial Arbitration and Mediation
Service (“JAMS”), to the extent not inconsistent with this paragraph. This Exhibit A covers any claim Participant might have against the Company, any officer, director, employee, or agent of the Company, or any of the Company’s
subsidiaries, divisions, and affiliates, and all successors and assigns of any of them. The promises by the Company and Participant to arbitrate differences, rather than litigate them before courts or other bodies, provide consideration for each
other, in addition to other consideration provided under the Policy. 

  

	2.	Claims Subject to Arbitration: This Exhibit A contemplates mandatory arbitration to the fullest extent permitted by law. Only claims that are justiciable under applicable state or federal law are covered by this
Exhibit A. Such claims include any and all alleged violations of any state or federal law whether common law, statutory, arising under regulation or ordinance, or any other law, brought by any current or former employees. 

 

	3.	Non-Waiver of Substantive Rights: This Exhibit A does not waive any rights or remedies available under applicable statutes or common law. However, it does waive Participant’s right to pursue those rights and
remedies in a judicial forum. By accepting benefits under the Policy, the Participant shall be deemed to have voluntarily agreed to arbitrate his or her claims covered by this Exhibit A. 

 

	4.	Time Limit to Pursue Arbitration; Initiation: To ensure timely resolution of disputes, Participant and the Company must initiate arbitration within the statute of limitations (deadline for filing) provided for by
applicable law pertaining to the claim. The failure to initiate arbitration within this time limit will bar any such claim. The parties understand that the Company and Participant are waiving any longer statutes of limitations that would otherwise
apply, and any aggrieved party is encouraged to give written notice of any claim as soon as possible after the event(s) in dispute so that arbitration of any differences may take place promptly. The parties agree that the aggrieved party must,
within the time frame provided by this Exhibit A, give written notice of a claim. In the event such notice is to be provided to the Company, the Participant shall provide a copy of such notice of a claim to the Company’s designated legal
counsel for purposes of arbitration. Written notice shall identify and describe the nature of the claim, the supporting facts and the relief or remedy sought. 

  
 13 

	5.	Selecting an Arbitrator: This Exhibit A mandates Arbitration under the then current rules of the Judicial Arbitration and Mediation Service (JAMS) regarding employment disputes. The arbitrator shall be either a
retired judge or an attorney experienced in employment law and licensed to practice in the state in which arbitration is convened. The parties shall select one arbitrator from among a list of three qualified neutral arbitrators provided by JAMS. If
the parties are unable to agree on the arbitrator, each party shall strike one name and the remaining named arbitrator shall be selected. 

  

	6.	Representation/Arbitration Rights and Procedures: 

  

	 	a.	Participant may be represented by an attorney of his/her choice at his/her own expense. 

  

	 	b.	The arbitrator shall apply the substantive law (and the law of remedies, if applicable) of Nevada (without regard to its choice of law provisions) and/or federal law when applicable. In all cases, this Exhibit A shall
provide for the broadest level of arbitration of claims between the Company and Participant under Nevada or applicable federal law. The arbitrator is without jurisdiction to apply any different substantive law or law of remedies. 

 

	 	c.	The arbitrator shall have no authority to award non-economic damages or punitive damages except where such relief is specifically authorized by an applicable state or federal statute or common law. In such a situation,
the arbitrator shall specify in the award the specific statute or other basis under which such relief is granted. 

  

	 	d.	The applicable law with respect to privilege, including attorney-client privilege, work product, and offers to compromise must be followed. 

 

	 	e.	The parties shall have the right to conduct reasonable discovery, including written and oral (deposition) discovery and to subpoena and/or request copies of records, documents and other relevant discoverable information
consistent with the procedural rules of JAMS. The arbitrator shall decide disputes regarding the scope of discovery and shall have authority to regulate the conduct of any hearing and/or trial proceeding. The arbitrator shall have the right to
entertain a motion to dismiss and/or motion for summary judgment. 

  

	 	f.	The parties shall exchange witness lists at least 30 days prior to the trial/hearing procedure. The arbitrator shall have subpoena power so that either Participant or the Company may summon witnesses. The arbitrator
shall use the Federal Rules of Evidence. Both parties have the right to file a post hearing brief. Any party, at its own expense, may arrange for and pay the cost of a court reporter to provide a stenographic record of the proceedings.

  

	 	g.	Any arbitration hearing or proceeding shall take place in private, not open to the public, in Las Vegas, Nevada. 

  

	7.	 Arbitrator’s Award: The arbitrator shall issue a written decision containing the specific issues
raised by the parties, the specific findings of fact, and the specific conclusions of 

  
 14 

	 	
law. The award shall be rendered promptly, typically within 30 days after conclusion of the arbitration hearing, or the submission of post-hearing briefs if requested. The arbitrator may not
award any relief or remedy in excess of what a court could grant under applicable law. The arbitrator’s decision is final and binding on both parties. Judgment upon an award rendered by the arbitrator may be entered in any court having
competent jurisdiction. 

  

	 	a.	Either party may bring an action in any court of competent jurisdiction to compel arbitration under this Exhibit A and to enforce an arbitration award. 

 

	 	b.	In the event of any administrative or judicial action by any agency or third party to adjudicate a claim on behalf of Participant which is subject to arbitration under this Exhibit A, Participant hereby waives the right
to participate in any monetary or other recovery obtained by such agency or third party in any such action, and Participant’s sole remedy with respect to any such claim shall be any award decreed by an arbitrator pursuant to the provisions of
this Exhibit A. 

  

	8.	Fees and Expenses: The Company shall be responsible for paying any filing fee and the fees and costs of the arbitrator; provided, however, that if Participant is the party initiating the claim, Participant will
contribute an amount equal to the filing fee to initiate a claim in the court of general jurisdiction in the state in which Participant is (or was last) employed by the Company. Participant and the Company shall each pay for their own expenses,
attorney’s fees (a party’s responsibility for his/her/its own attorney’s fees is only limited by any applicable statute specifically providing that attorney’s fees may be awarded as a remedy), and costs and fees regarding
witness, photocopying and other preparation expenses. If any party prevails on a statutory claim that affords the prevailing party attorney’s fees and costs, or if there is a written agreement providing for attorney’s fees and/or costs,
the arbitrator may award reasonable attorney’s fees and/or costs to the prevailing party, applying the same standards a court would apply under the law applicable to the claim(s). 

 

	9.	The arbitration provisions of this Exhibit A shall survive the termination of Participant’s employment with the Company. These arbitration provisions can only be modified or revoked in a writing signed by both
parties and which expressly states an intent to modify or revoke the provisions of this Exhibit A. 

  

	10.	The arbitration provisions of this Exhibit A do not alter or affect the termination provisions of the Policy. 

  

	11.	Capitalized terms not defined in this Exhibit A shall have the same definition as in the Policy to which this is Exhibit A. 

  

	12.	If any provision of this Exhibit A is adjudged to be void or otherwise unenforceable, in whole or in part, such adjudication shall not affect the validity of the remainder of Exhibit A. All other provisions shall remain
in full force and effect. 

  
 15 

 ACKNOWLEDGMENT 

BOTH PARTIES ACKNOWLEDGE THAT: THEY HAVE CAREFULLY READ THIS EXHIBIT A IN ITS ENTIRETY, THEY UNDERSTAND ITS TERMS, EXHIBIT A CONSTITUTES A MATERIAL TERM AND
CONDITION OF POLICY TO WHICH IT IS EXHIBIT A, AND THEY AGREE TO ABIDE BY ITS TERMS. 
 The parties also specifically acknowledge that by accepting benefits
under the Policy and thereby agreeing to the terms of this Exhibit A, they are waiving the right to pursue claims covered by this Exhibit A in a judicial forum and instead agree to arbitrate all such claims before an arbitrator without a court or
jury. It is specifically understood that this Exhibit A does not waive any rights or remedies which are available under applicable state and federal statutes or common law. Both parties enter into this Exhibit A voluntarily and not in reliance on
any promises or representation by the other party other than those contained in the Agreement or in this Exhibit A. 
 Participant further acknowledges that
Participant has been given the opportunity to discuss this Exhibit A with Participant’s private legal counsel and that Participant has availed himself/herself of that opportunity to the extent Participant wishes to do so. 

*        *        * 

  
 16EX-10.9

 Exhibit 10.9 

MGM Growth Properties Operating Partnership LP 

Nonqualified Deferred Compensation Plan 

Master Plan Document 

Effective April 19, 2016 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 Purpose
	 		  	 	1	  
			
	 ARTICLE 1
	 	 DEFINITIONS
	  	 	1	  
			
	 ARTICLE 2
	 	 SELECTION, ENROLLMENT, ELIGIBILITY
	  	 	5	  
	 2.1
	 	 Selection by Committee
	  	 	5	  
	 2.2
	 	 Enrollment Requirements
	  	 	5	  
	 2.3
	 	 Eligibility; Commencement of Participation
	  	 	6	  
	 2.4
	 	 Termination of Participation and/or Deferrals
	  	 	6	  
			
	 ARTICLE 3
	 	 DEFERRAL COMMITMENTS/CREDITING/TAXES
	  	 	6	  
	 3.1
	 	 Minimum Deferrals
	  	 	6	  
	 3.2
	 	 Maximum Deferrals
	  	 	7	  
	 3.3
	 	 Election to Defer; Effect of Election Form
	  	 	7	  
	 3.4
	 	 Withholding of Annual Deferral Amounts
	  	 	7	  
	 3.5
	 	 Vesting
	  	 	8	  
	 3.6
	 	 Crediting/Debiting of Account Balances
	  	 	8	  
	 3.7
	 	 FICA and Other Taxes
	  	 	9	  
			
	 ARTICLE 4
	 	 SHORT-TERM PAYOUT; UNFORESEEABLE FINANCIAL EMERGENCIES; WITHDRAWAL ELECTIONS; SMALL SUM
CASHOUTS
	  	 	9	  
	 4.1
	 	 Short-Term Payout
	  	 	9	  
	 4.2
	 	 Other Benefits Take Precedence Over Short-Term
	  	 	10	  
	 4.3
	 	 Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies
	  	 	10	  
	 4.4
	 	 Small Sum Cashouts
	  	 	10	  
			
	 ARTICLE 5
	 	 RETIREMENT BENEFIT
	  	 	11	  
	 5.1
	 	 Retirement Benefit
	  	 	11	  
	 5.2
	 	 Payment of Retirement Benefit
	  	 	11	  
	 5.3
	 	 Death Prior to Completion of Retirement Benefit
	  	 	11	  
			
	 ARTICLE 6
	 	 ARTICLE 6 PRE-RETIREMENT SURVIVOR BENEFIT
	  	 	11	  
	 6.1
	 	 Pre-Retirement Survivor Benefit
	  	 	11	  
	 6.2
	 	 Payment of Pre-Retirement Survivor Benefit
	  	 	11	  
			
	 ARTICLE 7
	 	 TERMINATION BENEFIT
	  	 	12	  
	 7.1
	 	 Termination Benefit
	  	 	12	  
	 7.2
	 	 Payment of Termination Benefit
	  	 	12	  
	 7.3
	 	 Death Prior to Completion of Termination Benefit
	  	 	12	  
			
	 ARTICLE 8
	 	 DISABILITY BENEFIT
	  	 	13	  
	 8.1
	 	 Disability Benefit
	  	 	13	  
			
	 ARTICLE 9
	 	 BENEFICIARY DESIGNATION
	  	 	13	  
	 9.1
	 	 Beneficiary
	  	 	13	  
	 9.2
	 	 Beneficiary Designation; Change; Spousal Consent
	  	 	13	  
	 9.3
	 	 Acknowledgment
	  	 	13	  
	 9.4
	 	 No Beneficiary Designation
	  	 	13	  

  
 i 

							
	 9.5
	 	 Doubt as to Beneficiary
	  	 	14	  
	 9.6
	 	 Discharge of Obligations
	  	 	14	  
			
	 ARTICLE 10
	 	 LEAVE OF ABSENCE
	  	 	14	  
	 10.1
	 	 Leaves of Absence
	  	 	14	  
			
	 ARTICLE 11
	 	 TERMINATION, AMENDMENT OR MODIFICATION
	  	 	14	  
	 11.1
	 	 Termination
	  	 	14	  
	 11.2
	 	 Amendment
	  	 	14	  
	 11.3
	 	 Plan Agreement
	  	 	15	  
	 11.4
	 	 Effect of Payment; Non-Discretionary Cashout
	  	 	15	  
			
	 ARTICLE 12
	 	 ADMINISTRATION
	  	 	15	  
	 12.1
	 	 Committee Duties
	  	 	15	  
	 12.2
	 	 Agents
	  	 	15	  
	 12.3
	 	 Binding Effect of Decisions
	  	 	15	  
	 12.4
	 	 Indemnity of Committee
	  	 	16	  
	 12.5
	 	 Employer Information
	  	 	16	  
			
	 ARTICLE 13
	 	 OTHER BENEFITS AND AGREEMENTS
	  	 	16	  
	 13.1
	 	 Coordination with Other Benefits
	  	 	16	  
			
	 ARTICLE 14
	 	 CLAIMS PROCEDURES
	  	 	16	  
	 14.1
	 	 Presentation of Claim
	  	 	16	  
	 14.2
	 	 Notification of Decision
	  	 	16	  
	 14.3
	 	 Review of a Denied Claim
	  	 	17	  
	 14.4
	 	 Decision on Review
	  	 	17	  
	 14.5
	 	 Legal Action
	  	 	17	  
			
	 ARTICLE 15
	 	 TRUST
	  	 	17	  
	 15.1
	 	 Establishment of the Trust
	  	 	17	  
	 15.2
	 	 Interrelationship of the Plan and the Trust
	  	 	18	  
	 15.3
	 	 Distributions from the Trust
	  	 	18	  
	 15.4
	 	 Investment of Trust Assets
	  	 	18	  
	 15.5
	 	 No Claim on Trust Assets
	  	 	18	  
			
	 ARTICLE 16
	 	 MISCELLANEOUS
	  	 	18	  
	 16.1
	 	 Status of Plan
	  	 	18	  
	 16.2
	 	 Unsecured General Creditor
	  	 	19	  
	 16.3
	 	 Employer’s Liability
	  	 	19	  
	 16.4
	 	 Nonassignability
	  	 	19	  
	 16.5
	 	 Not a Contract of Employment
	  	 	19	  
	 16.6
	 	 Furnishing Information
	  	 	19	  
	 16.7
	 	 Terms
	  	 	19	  
	 16.8
	 	 Captions
	  	 	20	  
	 16.9
	 	 Governing Law
	  	 	20	  
	 16.10
	 	 Notice
	  	 	20	  
	 16.11
	 	 Successors
	  	 	20	  
	 16.12
	 	 Spouse’s Interest
	  	 	20	  
	 16.13
	 	 Validity
	  	 	20	  

  
 ii 

							
	 16.14
	 	 Incompetent
	  	 	20	  
	 16.15
	 	 Court Order
	  	 	21	  
	 16.16
	 	 Distribution in the Event of Taxation
	  	 	21	  
	 16.17
	 	 Legal Fees To Enforce Rights After Change in Control
	  	 	21	  

  
 iii 

 MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP 

NONQUALIFIED DEFERRED COMPENSATION PLAN 

Effective April 19, 2016 

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 Growth Properties Operating
Partnership LP, a Delaware limited partnership, 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: 

“Account Balance” shall mean, with respect to a Participant, a credit on the records of the Employer equal to the Deferral
Account balance. 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 the Participant’s designated Beneficiary,
pursuant to this Plan. 
 “Annual Deferral Amount” shall mean that portion of a Participant’s Base Annual Salary and
Bonus that a Participant elects to have, and is, deferred in accordance with Article 3, for any one Plan Year. In the event of a Participant’s Retirement, Disability, death or a Termination of Employment prior to the end of a Plan Year,
such year’s Annual Deferral Amount shall be the actual amount withheld prior to such event. 
 “Base Annual Salary”
shall mean the annual cash compensation 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, commissions,
overtime, fringe benefits, equity or equity-based incentives, relocation expenses, incentive payments, non-monetary awards and other fees and 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). Base Annual Salary shall be calculated 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 Sections 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. 

“Beneficiary” shall mean one or more persons, trusts, estates or other entities, designated

  
 1 

 
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. 
 “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. 
 “Board” shall mean the
board of managers of MGM Growth Properties OP GP LLC, a Delaware limited liability company, which is the general partner of the Company. 

“Bonus” shall mean any cash compensation, other than Base Salary, earned by a Participant for services rendered during a Plan
Year, under any Employer’s bonus, commission or other cash incentive arrangements (whether written or oral). 
 “Change of
Control” shall mean, with respect to (x) MGP or (y) provided that it controls, is controlled by or is under common control with MGP at the relevant time, MGM (each of (x) and (y), a “Referenced Entity”), the
first to occur of: 
 (1) the date that a reorganization, merger, consolidation, recapitalization, or similar transaction (other than a
spinoff, exchange offer or similar transaction to or with the applicable Referenced Entity’s public shareholders) is consummated, unless: (i) at least 50% of the outstanding voting securities of the surviving or resulting entity
(including, without limitation, an entity which as a result of such transaction owns MGP either directly or through one or more subsidiaries) (“Resulting Entity”) are beneficially owned, directly or indirectly, by the persons who were the
beneficial owners of the outstanding voting securities of the Corporation immediately prior to such transaction in substantially the same proportions as their beneficial ownership, immediately prior to such transaction, of the outstanding voting
securities of the Corporation and (ii) immediately following such transaction no person or persons acting as a group beneficially owns capital stock of the Resulting Entity possessing thirty-five percent (35%) or more of the total voting
power of the stock of the Resulting Entity; 
 (2) the date that a majority of members of the Referenced Entity’s Board is replaced
during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Referenced Entity’s Board before the date of the appointment or election; provided that no individual shall
be considered to be so endorsed if such individual initially assumed office as a result of either an actual or threatened “Election Contest” (as described in Rule 14a-11 promulgated under the Securities Exchange Act of 1934) or other
actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Referenced Entity’s Board (a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Election Contest or
Proxy Contest; 
 (3) the date that any one person, or persons acting as a group, acquires (or has or have acquired as of the date of the
most recent acquisition by such person or persons) beneficial ownership of stock of the Referenced Entity possessing thirty-five percent (35%) or more of the total voting power of the stock of the Referenced Entity; or 

(4) the date that any one person acquires, or persons acting as a group acquire (or has or have acquired as of the date of the most recent
acquisition by such person or persons), assets 

  
 2 

 
from the Referenced Entity that have a total gross fair market value equal to or more than forty percent (40%) of the total gross fair market value of all of the assets of the Referenced
Entity immediately before such acquisition or acquisitions. 
 For the avoidance of doubt, there can only be one Change of Control for
purposes of the Plan. 
 “Claimant” shall have the meaning set forth in Section 14.1. 

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

“Committee” shall mean the committee described in Article 12. 

“Company” shall mean MGM Growth Properties Operating Partnership LP, a Delaware limited partnership, and any successor to all
or substantially all of the Company’s assets or business. 
 “Deferral Account” shall mean (a) the sum
(i) the aggregate amount of all of a Participant’s Annual Deferral Amounts and (ii) amounts credited or debited in accordance with all applicable crediting provisions of this Plan that relate to the Participant’s Deferral Account
less (b) all distributions made to the Participant or the Participant’s Beneficiary pursuant to this Plan that relate to the Participant’s Deferral Account. 

“Disability” shall mean that a Participant (a) is unable to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, as certified by a licensed physician, or (b) is receiving income
replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the Participant’s Employer by reason of any medically determinable physical or mental impairment which can be expected to
result in death or can be expected to last for a continuous period of not less than 12 months, as certified by a licensed physician in each case. 

“Disability Benefit” shall mean the benefit set forth in Article 8. 

“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. 
 “Employee” shall mean a person who is an employee of any
Employer. 
 “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. 

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

  
 3 

 “MGM” shall mean MGM Resorts International, a Delaware corporation. 

“MGP” shall mean MGM Growth Properties LLC, a Delaware limited liability company. 

“Participant” shall mean any Employee (a) who is selected to participate in the Plan, (b) who elects to participate
in the Plan, (c) who signs a Plan Agreement, an Election Form and a Beneficiary Designation Form, (d) whose signed Plan Agreement, Election Form and Beneficiary Designation Form are accepted by the Committee, (e) who commences
participation in the Plan, and (f) 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 the
Participant 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. 

“Plan” shall mean the MGM Growth Properties Operating Partnership LP Nonqualified Deferred Compensation Plan, which shall be
evidenced by this instrument and by each Plan Agreement, as they may be amended from time to time. 
 “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. 

“Plan Year” shall mean (a) the short year commencing April 19, 2016, and continuing through December 31, 2016,
and (b) January 1 of each calendar year beginning on or after January 1, 2017, and continuing through December 31 of such calendar year, while the Plan is in effect. 

“Pre-Retirement Survivor Benefit” shall mean the benefit set forth in Article 6. 

“Quarterly Installment Method” shall mean quarterly installment payments over the number of quarters selected by the
Participant in accordance with this Plan, calculated as follows: the 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 Account Balance, calculated as described in this definition. For the following calendar quarter, the payment shall be 1/39 of the Account
Balance, calculated as described in this definition. Continuing Payments pursuant to the Quarterly Installment Method shall be made no later than 60 days following the 

  
 4 

 
last business day of the applicable calendar quarter for which the installment payment is made. 

“Retirement”, “Retire(s)” or “Retired” shall mean separation from service (as defined in
accordance with Code Section 409A and the regulations issued thereunder) from all Employers for any reason other than an authorized leave of absence, death or Disability on or after the earlier of the attainment of (a) age sixty-five
(65) or (b) age fifty-five (55) with ten (10) Years of Service. 
 “Retirement Benefit” shall mean the
benefit set forth in Article 5. 
 “Short-Term Payout” shall mean the payout set forth in Section 4.1. 

“Termination Benefit” shall mean the benefit set forth in Article 7. 

“Termination of Employment” shall mean separation from service (as defined in accordance with Code Section 409A and the
regulations issued thereunder) from all Employers, voluntarily or involuntarily, for any reason other than Retirement, Disability or death. 

“Trust” shall mean one or more trusts established in accordance with Section 15.1. 

“Unforeseeable Financial Emergency” shall mean severe financial hardship to a Participant resulting from an illness or
accident of the Participant, the Participant’s spouse, or a dependent (as defined in Section 152(a) of the Code) of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable
circumstances arising as a result of events beyond the control of the Participant, as determined in the sole discretion of the Committee consistent with Code Section 409A. 

“Years of Service” shall mean the total number of full years of employment in which a Participant has been employed by one or
more Employers. For purposes of this definition, a year of employment shall be a 365-day period (or 366-day period in the case of a leap year) that, for the first year of employment, commences on the Employee’s date of hiring and that, for any
subsequent year, commences on an anniversary of that hiring date. Any partial year of employment shall not be counted. 
 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, who upon selection become eligible to participate in the Plan.
Notwithstanding the foregoing, an Employee cannot be selected to be a participant in the Plan until the Employee has been employed with an Employer for at least 90 days. 

2.2 Enrollment Requirements. As a condition to participation, each selected Employee shall complete, execute and return to the
Committee, in a manner determined by the Committee, a Plan Agreement, an Election Form and a Beneficiary Designation Form, all by 

  
 5 

 
October 1st of the Plan Year in which the Employee becomes eligible to participate in the Plan. If an Employee is selected to participate
in the Plan after October 1st of a given Plan Year, the Employee shall complete the required enrollment materials by October 1st of
the Plan Year following the Plan Year in which the Employee becomes eligible to participate in the Plan. Notwithstanding anything to the contrary in this Section 2.2, each Employee selected to participate in the short 2016 Plan Year shall
complete, execute and return the required enrollment materials within 30 days following the effective date of this Plan (or, if later, within 30 days following the date the Employee first becomes eligible to participate in this Plan), and any
elections shall be made with respect to Base Annual Salary and/or Bonus earned following the date the elections contained within the enrollment materials become effective. 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.
Subject to the next sentence, an Employee selected to participate in the Plan in accordance with Section 2.1 by October 1st of a given Plan Year shall commence participation in the Plan
as of the first day of the Plan Year following the Plan Year in which the Committee selects that Employee to participate in the Plan. However, if the Employee fails to return the required enrollment materials by October 1st of the Plan Year in which the Employee was selected to participate in the Plan and thus fails to meet the requirements of Section 2.2, that Employee shall not be eligible to participate in the
Plan until the subsequent Plan Year, subject to the delivery to and acceptance by the Committee of the required documents by October 1st of the Plan Year following the Plan Year in which the
Employee was selected to participate in the Plan. An Employee selected to participate in the Plan in accordance with Section 2.1 after October 1st of a given Plan Year shall not be
eligible to commence participation in the Plan as of the first day of the Plan Year following selection but instead will become eligible to participate in the Plan in the following Plan Year, subject to the Employee meeting the applicable
requirements of Section 2.2. 
 2.4 Termination of Participation and/or Deferrals. 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 prevent the Participant from making future deferral elections. 
 ARTICLE 3 

Deferral Commitments/Crediting/Taxes 

3.1 Minimum Deferrals. For each Plan Year, a Participant may elect to defer, as the Participant’s Annual Deferral Amount in whole
percentages, Base Annual Salary and/or Bonus in the following minimum percentages for each deferral elected: 
  

			
	Deferral	  	Minimum Amount
	 Base Annual Salary
	  	3%
	 Bonus
	  	3%

  
 6 

 If an election is made for less than the stated minimum amounts, or if no election is made, the
amount deferred shall be zero. 
 3.2 Maximum Deferrals. For each Plan Year, a Participant may elect to defer, as the
Participant’s Annual Deferral Amount in whole percentages, Base Annual Salary and/or Bonus up to the following maximum percentages for each deferral elected: 
  

			
	Deferral	  	Maximum Amount
	 Base Annual Salary
	  	50%
	 Bonus
	  	75%

 Notwithstanding the foregoing, if a Participant first becomes a Participant after the first day of a Plan
Year, the maximum Annual Deferral Amount, with respect to Base Annual Salary and Bonus, shall be limited to the amount of such compensation earned by the Participant after the Participant commences participation in the Plan in accordance with
Section 2.3 above. 
 3.3 Election to Defer; Effect of Election Form. 

(a) First Plan Year. In connection with a Participant’s commencement of participation in the Plan, the Participant shall make an
irrevocable deferral election for the Plan Year in which the Participant commences participation in the Plan, along with such other elections as the Committee deems necessary or desirable under the Plan. For these elections to be valid, the Election
Form must be completed and signed by the Participant, timely delivered to the Committee (in accordance with Section 2.2) and accepted by the Committee. 

(b) Subsequent Plan Years. For each succeeding Plan Year, an irrevocable deferral election for that Plan Year, and such other elections
as the Committee deems necessary or desirable under the Plan, shall be made by timely delivering to the Committee, in accordance with its rules and procedures, before the end of the Plan Year preceding the Plan Year for which the election is made
(or such earlier time as the Committee may establish, in its sole discretion), a new Election Form. If no such Election Form is timely delivered for a Plan Year, the Annual Deferral Amount shall be zero for that Plan Year. 

(c) Performance-Based Compensation. Notwithstanding the foregoing, the Committee may, in its sole discretion, determine that an
irrevocable deferral election pertaining to performance-based compensation may be made by timely delivering a new Election Form to the Committee, in accordance with its rules and procedures, no later than six (6) months before the end of the
performance service period. “Performance-based compensation” shall be compensation based on services performed over a period of at least twelve (12) months, in accordance with Code Section 409A and related guidance. 

3.4 Withholding of Annual Deferral Amounts. For each Plan Year, the Base Annual Salary portion of the Annual Deferral Amount shall be
withheld from each regularly scheduled Base Annual Salary payroll in the percentage elected by the Participant. The Bonus portion of the Annual Deferral Amount shall be withheld at the time the Bonus is paid to the Participant. 

  
 7 

 3.5 Vesting. A Participant shall at all times be 100% vested in the Participant’s
Deferral Account. 
 3.6 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 the Participant’s initial deferral election in accordance
with Section 3.3(a), shall elect, on the Election Form, one or more Measurement Fund(s) (as described in Section 3.6(c)) to be used to determine the additional amounts to be credited or debited to the Participant’s 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 the Participant’s Account Balance, or to change the portion of
the Participant’s 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 3.6(a). 
 (b) Proportionate Allocation. In
making any election described in Section 3.6(a), the Participant shall specify on the Election Form, in increments of one percentage point (1%), the percentage of the Participant’s 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 the Participant’s 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 the
Participant’s Account Balance. As necessary, the Committee may, in its sole discretion, discontinue, substitute or add Measurement Funds. 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 the Participant’s Account Balance thereof, the calculation of
additional amounts and the crediting or 

  
 8 

 
debiting of such amounts to a Participant’s Account Balance shall not be considered or construed in any manner as an actual investment of the Participant’s 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 the Participant’s 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 3.6, the Committee shall retain the overriding discretion regarding the Participant’s designation of Measurement Funds under this Section 3.6. If a Participant fails to designate any Measurement
Fund under this Section 3.6, 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 the Participant’s selection
of Measurement Funds under this Section 3.6, and the Employers shall have no responsibility or liability with respect to the Participant’s selection of such Measurement Funds. 

3.7 FICA and Other Taxes. 

(a) Annual Deferral Amounts. For each Plan Year in which an Annual Deferral Amount is being withheld from a Participant, the
Participant’s Employer(s) shall withhold from that portion of the Participant’s Base Annual Salary and Bonus that is not being deferred, in a manner determined by the Employer(s), the Participant’s share of FICA and other employment
taxes on such Annual Deferral Amount. If necessary, the Committee may reduce the Annual Deferral Amount in order to comply with this Section 3.7. 

(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 

Short-Term Payout; Unforeseeable Financial Emergencies; 

Withdrawal Elections; Small Sum Cashouts 

4.1 Short-Term Payout. 

(a) In connection with each election to defer an Annual Deferral Amount, a Participant may irrevocably elect to receive a future
“Short-Term Payout” from the Plan with respect to such Annual Deferral Amount. The Short-Term Payout shall be a lump sum payment in an amount that is equal to the Annual Deferral Amount plus amounts credited or debited in the manner
provided in Section 3.6 above on that amount, determined at the time that the Short-

  
 9 

 
Term Payout becomes payable. Subject to the terms and conditions of this Plan, each Short-Term Payout elected shall be paid out during a 60 day period commencing immediately after the last
day of any Plan Year designated by the Participant that is at least five Plan Years after the Plan Year in which the Annual Deferral Amount is actually deferred. By way of example, if a five-year Short-Term Payout is elected for Annual Deferral
Amounts that are deferred in the Plan Year commencing January 1, 2017, the five-year Short-Term Payout would become payable during a 60 day period commencing January 1, 2023. 

(b) A Participant may make a one time election to postpone a Short-Term Payout described above, and have such amount paid out during a sixty
(60) day period commencing immediately after an allowable alternative distribution date designated by the Participant in accordance with the following rules. To make this one time election, the Participant must submit a new Election Form to the
Committee in accordance with the following criteria: (i) the Election Form is submitted at least 1 year prior to the schedule distribution date of the Short-Term Payout, (ii) the election cannot take effect until at least
12 months after the date on which the election is made, (iii), the first payment with respect to which such election is made must be deferred for a period of 5 years from the date such payment would otherwise have been made, (iv) the
election cannot accelerate the payment of such benefit and (v) the election is accepted by the Committee in its sole discretion. 
 4.2
Other Benefits Take Precedence Over Short-Term. Should an event occur that triggers a benefit under Article 5, 6, 7 or 8, any Annual Deferral Amount, plus amounts credited or debited thereon, that is subject to a Short-Term Payout
election under Section 4.1 shall not be paid in accordance with Section 4.1 but shall be paid in accordance with the other applicable Article. Notwithstanding the foregoing, the Committee shall interpret this Section in a manner that is
consistent with Code Section 409A and the regulations thereunder, including without limitation guidance issued in connection with that Section. 

4.3 Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies. If the Participant experiences an Unforeseeable Financial
Emergency, the Participant may petition the Committee to (a) suspend any deferrals required to be made by a Participant during the remaining portion of the Plan Year and/or (b) receive a partial or full payout from the Plan. The payout
shall not exceed the lesser of the Participant’s Account Balance, calculated as if such Participant were receiving a Termination Benefit, or the amount necessary to satisfy the Unforeseeable Financial Emergency plus amounts necessary to pay
taxes reasonably anticipated as a result of the distribution, after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the
participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship). If, in the sole discretion of the Committee, the petition for a suspension and/or payout is approved, suspension shall take
effect upon the date of approval and any payout shall be made within 60 days of the date of approval. 
 4.4 Small Sum Cashouts. The
Company may elect in writing to effect a cashout pursuant to Treasury Regulation Section 1.409A-3(j)(4)(v), where the Account Balance under the Plan (together with account balances of any other aggregated
arrangements) do not exceed the applicable dollar amount under Code Section 402(g)(1)(B) (or a lower threshold set by the Company in such election). An Employee whose entire Account Balance has been distributed in

  
 10 

 
a lump sum pursuant to this Section 4.4 and who recommences making deferral elections shall be treated for the Plan Year of such recommencement as a new Participant under the Plan and shall
for such Plan Year be eligible to make a new payout election with respect to such new participation. 
 ARTICLE 5 

Retirement Benefit 

5.1 Retirement Benefit. A Participant who Retires shall receive, as a Retirement Benefit, the Participant’s Account Balance. 

5.2 Payment of Retirement Benefit. In connection with the Participant’s commencement of participation in the Plan, a Participant
will elect on an Election Form to receive the Retirement Benefit within sixty (60) days following the six month anniversary of the Participant’s Retirement, in a lump sum or in installments of up to 60 quarters pursuant to the Quarterly
Installment Method. The Participant may change the Participant’s election once to an allowable alternative payout period by submitting a new Election Form to the Committee, provided that (a) the election cannot take effect until at least
12 months after the date on which the election is made, (b) the payment with respect to which such election is made must be deferred for a period of 5 years from the date such payment would otherwise have been made under the previous
election, (c) the election cannot accelerate the payment of such benefit and (d) the election 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 a 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. The lump sum payment shall be made, or
installment payments shall commence, no earlier than six months after the Participant’s Retirement and no later than 60 days after that six month anniversary. 

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(ies) over the remaining number of quarters and in the same amounts as the Retirement Benefit would have been
paid had the participant survived. 
 ARTICLE 6 

Pre-Retirement Survivor Benefit 

6.1 Pre-Retirement Survivor Benefit. The Participant’s Beneficiary shall receive a Pre-Retirement Survivor Benefit equal to the
Participant’s Account Balance if the Participant dies before the Participant Retires, experiences a Termination of Employment or is determined by the Committee to have a Disability. 

6.2 Payment of Pre-Retirement Survivor Benefit. A Participant, in connection with the Participant’s commencement of participation
in the Plan, will elect on an Election Form whether the Pre-Retirement Survivor Benefit shall be received by the Participant’s Beneficiary in 

  
 11 

 
a lump sum or in installments of up to 60 quarters pursuant to the Quarterly Installment Method, payable or commencing within sixty (60) days after the last business day of the calendar
quarter in which the Committee receives proof of the Participant’s death that it deems satisfactory. The Participant may change this election once to an allowable alternative payout period by submitting a new Election Form to the Committee,
provided that (a) the election cannot take effect until at least 12 months after the date on which the election is made, (b) the election cannot accelerate the payment of such benefit and (c) the election is accepted 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-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 payment made no later than 60 days after the last business day of the calendar quarter in
which the Committee is provided with proof of the Participant’s death that it deems satisfactory. 
 ARTICLE 7 

Termination Benefit 

7.1 Termination Benefit. The Participant shall receive a Termination Benefit, which shall be equal to the Participant’s Account
Balance, if a Participant experiences a Termination of Employment prior to the Participant’s Retirement, death or Disability. 
 7.2
Payment of Termination Benefit. In connection with the commencement of participation in the Plan, a Participant will elect on an Election Form to receive the Termination Benefit in a lump sum or in installments of up to 20 quarters, pursuant
to the Quarterly Installment Method, commencing or paid no later than sixty (60) days following the date that is six months after the Participant’s Termination of Employment. The Participant may change the Participant’s election once
to an allowable alternative payout period by submitting a new Election Form to the Committee, provided that (a) the election cannot take effect for at least 12 months after the date on which the election is made, (b), the payment with
respect to which such election is made must be deferred for a period of 5 years from the date such payment would otherwise have been made, (c) the election cannot accelerate the payment of such benefit and (d) the election 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 Termination Benefit. If a Participant does not make any election with respect to the
payment of the Termination Benefit, then such benefit shall be payable in a lump sum, payable no later than 60 days after the date that is six months after the Participant’s Termination of Employment. 

7.3 Death Prior to Completion of Termination Benefit. If a Participant dies after 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 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. 

  
 12 

 ARTICLE 8 

Disability Benefit 

8.1 Disability Benefit. A Participant who is determined by the Committee to have a Disability shall receive a Disability Benefit equal
to the Participant’s Account Balance. In connection with commencement of participation in the Plan, the Participant will elect on an Election Form receive the Disability Benefit in a lump sum or in installments of up to 60 quarters, pursuant to
the Quarterly Installment Method, payable or commencing within sixty days of the last business day of the calendar quarter in which the Committee determines that the Participant has a Disability. In the event a Participant does not make any
election, the Disability Benefit shall be paid in a lump sum payment commencing within sixty days after the last business day of the calendar quarter in which the Committee determines that the Participant has a Disability. 

ARTICLE 9 

Beneficiary Designation 

9.1 Beneficiary. Each Participant shall have the right, at any time, to designate the Participant’s 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 the Participant’s 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 the Participant’s 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 the Participant’s 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 the Participant’s surviving spouse. If the 

  
 13 

 
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. 
 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 Leaves of Absence. A Participant on a leave of absence will be treated as employed by the Employer if the
period of leave does not exceed six months (extended to 29 months in the case of Disability leave) or, if longer, the period during which the Participant retains a right to reemployment under applicable law or contract. A participant on an unpaid
leave of absence shall not be required to make deferrals until the Participant returns to a paid employment status. Upon such return, the Participant may make a deferral election in accordance with the terms of the Plan, to take effect in the
following Plan Year. 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
the Annual Deferral Amount shall continue to be withheld during such paid leave of absence in accordance with Section 3.3. 
 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 either the Committee or its board of directors, consistent with the requirements of Code Section 409A and the regulations thereunder. Termination of the
Plan shall not result in a reduction in any Participant’s Account Balance under the Plan. 
 11.2 Amendment. The Committee may,
at any time in its sole discretion, amend or modify the Plan in whole or in part with respect to any Employer; provided, however, that: (a) no amendment or modification shall be effective to decrease or restrict the value of a
Participant’s 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

  
 14 

 
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 (b) 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, except to the extent permitted or required under Code Section 409A and the regulations issued thereunder. 

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; Non-Discretionary Cashout. 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 the Participant’s designated Beneficiary under this Plan and the Participant’s Plan Agreement shall terminate. Notwithstanding anything in this Plan to the contrary, in
the event a Participant’s Account Balance under the Plan, determined as of the last business day of the calendar quarter following the date the Participant first becomes entitled to a benefit pursuant to Articles 4, 5, 6, 7 or 8, is less than
$25,000, the Participant’s Account Balance shall be paid in a lump sum within sixty (60) days after the last business day of the applicable calendar quarter in which the Account Balance determination is made by the Employer. 

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
(a) make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Plan and the governance of the Committee and (b) decide or resolve any and all inconsistencies, ambiguities, omissions and
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 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 

  
 15 

 
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 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: 

  
 16 

	 	(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. 

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. On or as soon as practicable following the effective date of this Plan, the Company shall establish the Trust, with sub-trusts for each Employer. Each 

  
 17 

 
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 Deferral Amounts for such Employer’s Participants for all periods prior to the transfer, as well as any debits and credits to the Participants’ Account Balances 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 participating 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. 
 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). In addition, the Plan is intended to comply with Code Sections 409A(a)(1) to (4) and (b)(1) to (2). The Plan shall be administered and interpreted in a manner consistent with those foregoing intents. Should any provision of
this Plan not comply the 

  
 18 

 
provisions of Code Section 409A listed above, that provision shall have no effect on the remaining parts of this Plan and this Plan shall be construed and enforced as if such provision had
never been inserted herein. 
 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 the Participant’s 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 Participant’s 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 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. 

  
 19 

 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: 
 MGM Growth Properties Operating Partnership LP 

c/o MGM Resorts 
 3600 Las Vegas
Blvd So. 
 Las Vegas, NV 89109 

Attention: Designated legal counsel for purposes of administration of the MGM Growth Properties Operating Partnership LP Nonqualified Deferred
Compensation Plan 
 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, 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 

  
 20 

 
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. Notwithstanding the foregoing, the Committee shall interpret this provision in a manner that is consistent with Code Section 409A and other applicable tax law, including but not limited to guidance issued after the
effective date of this Plan. 
 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 the Participant’s 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 the Participant’s benefit (which amount shall not exceed a Participant’s unpaid 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. Notwithstanding the foregoing, the Committee shall interpret this provision in a manner that is consistent with
Code Section 409A and other applicable tax law, including but not limited to guidance issued after the effective date of 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 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 

  
 21 

 
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. 

  
 22

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00257-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00257-of-00352.parquet"}]]