Document:

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                                                               EXHIBIT 10.4(14)

                 A FOURTH AMENDMENT TO THE MAY 3, 1996 AGREEMENT
                      BETWEEN THE CITY OF ATLANTIC CITY AND
                      MIRAGE RESORTS, INCORPORATED FOR THE
                DEVELOPMENT OF THE HURON NORTH REDEVELOPMENT AREA

                              1. INITIAL RECITALS

     THIS FOURTH AMENDMENT (this "Fourth Amendment") KNOWN AS "A FOURTH
AMENDMENT TO THE MAY 3, 1996 AGREEMENT BETWEEN THE CITY OF ATLANTIC CITY AND
MIRAGE RESORTS, INCORPORATED FOR THE DEVELOPMENT OF THE HURON NORTH
REDEVELOPMENT AREA" IS MADE THIS 18th DAY OF OCTOBER, 2000 by and between the
City of Atlantic City (the "City") and MAC, CORP. (the "Redeveloper"), in
consideration of the provisions set forth hereinafter and the mutual promises
contained herein.

     WHEREAS, pursuant to Ordinance No. 14 of 1996 adopted by the City Council
of the City (the City Council"), the City entered into a certain agreement known
as "An Agreement Between the City of Atlantic City and Mirage Resorts,
Incorporated for the Development of the Huron North Redevelopment Area" (the
"Agreement"), which Agreement was executed on May 3, 1996; and

     WHEREAS, in accordance with Section 5.6 of the Agreement, the Redeveloper
is the successor by assignment to the rights of Mirage Resorts, Incorporated in
and to the Agreement; and

     WHEREAS, Section 10.5.3 of the Agreement provides that any amendment to the
Agreement must be in writing and specifically recite that it is being entered
into by and

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between the City and the Redeveloper with the specific intention to modify the
terms of the Agreement; and

     WHEREAS, pursuant to Ordinance No. 75 of 1997 adopted by the City Council,
the City entered into a certain agreement known as "An Amendment to the May 3,
1996 Agreement Between the City of Atlantic City and Mirage Resorts,
Incorporated for the Development of the Huron North Redevelopment Area" (the
"First Amendment"), which First Amendment was executed on January 8, 1998; and

     WHEREAS, pursuant to Ordinance No. 61 of 1998 adopted by the City Council,
the City entered into a certain agreement known as "A Second Amendment to the
May 3, 1996 Agreement Between the City of Atlantic City and Mirage Resorts,
Incorporated for the Development of the Huron North Redevelopment Area" (the
"Second Amendment"), which Second Amendment was executed on December 15, 1998;
and

     WHEREAS, pursuant to the First Amendment, the City conveyed the Project
Parcels (as defined in the Agreement) to Redeveloper by deed dated January 8,
1998 and recorded on January 9, 1998 in the Atlantic County Clerk's Office in
Deed Book 6237, Page 223 (the "Original City Deed"); and

     WHEREAS, the Original City Deed contains various restrictions, including,
without limitation, a right of reversion and statutory covenants, provisions and
controls which affect the Project Parcels, all as more particularly set forth in
Sections 5 and 6 of the Original City Deed (collectively, the "City Deed
Restrictions"); and

     WHEREAS, the Redeveloper and Boyd Atlantic City, Inc., a New Jersey
corporation ("Boyd") have entered into a certain amended and restated joint
venture

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agreement dated as of July 14, 1998, as amended by a certain first amendment to
amended and restated joint venture agreement dated September 10, 1998, as
further amended by Second Amended and Restated Joint Venture Agreement dated as
of August 31, 2000 (as so amended, the "Joint Venture Agreement"), pursuant to
which Redeveloper and Boyd have formed a joint venture known as Marina District
Development Company ("MDDC"); and

     WHEREAS, pursuant to the terms of the Joint Venture Agreement, Redeveloper
has agreed to convey to MDDC a portion of the Project Parcels as more
particularly described on Exhibit "A" hereto (the "Joint Venture Property"), for
the purpose of, among other things, developing and operating thereon a facility
consisting of a 2,010 room hotel-casino and related restaurant, entertainment,
retail and other amenities (the "MDDC Project");

     WHEREAS, pursuant to Ordinance No. 70 of 1998 adopted by the City Council
on December 16, 1998, the City entered into a certain agreement known as "A
Third Amendment to the May 3, 1996 Agreement Between the City of Atlantic City
and Mirage Resorts, Incorporated for the Development of the Huron North
Redevelopment Area" (the "Third Amendment"), which Third Amendment was executed
on January 13, 1999; and

     WHEREAS, pursuant to the Third Amendment, the City approved, INTER ALIA,
Redeveloper's conveyance of the Joint Venture Property to MDDC; and

     WHEREAS, pursuant to the Third Amendment, the City executed an Agreement
Modifying Deed Book 6237, Page 223 dated January 18, 1999 and recorded on
February 10,

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1999 in Deed Book 6433, Page 285 (the "Prior Deed Modification"), pursuant
to which the Original City Deed was modified to provide for the release of the
Mirage Land from the City Deed Restrictions and to incorporate the Harrah's Land
into the "Property" as defined therein (as such terms are defined in the Prior
Deed Modification) (the Original City Deed, as previously modified by the Prior
Deed Modification, is hereinafter referred to as the "City Deed"); and

     WHEREAS, the Property less the Joint Venture Property is hereinafter
collectively referred to as the "MAC Property"; and

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

     WHEREAS, at a hearing held on March 15, 2000, the City Planning Board
granted preliminary and final site plan approval for the MDDC Project; and

     WHEREAS, on July 19, 2000, the Planning Board of the City of Atlantic City
approved an application by MDDC for an amendment to preliminary and final site
plan approval to increase the size and scope of the MDDC Project to 2,010 hotel
rooms; and

     WHEREAS, MDDC has made application for other approvals in order to develop
the Joint Venture Property; and

     WHEREAS, with respect to the MAC Property and the Joint Venture Property,
the public policy goals set forth in Section 3.4 of that certain Redevelopment
Plan for the Huron North Redevelopment Area adopted by the City Council, as
amended by

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Ordinance No. 60 of 1998 adopted by the City Council (the "Redevelopment Plan")
would be satisfied upon completion of construction of the MDDC Project; and

     WHEREAS, the Redeveloper and MDDC have requested that on the effective date
of the City Ordinance approving and adopting this Fourth Amendment, the City
shall execute and deliver to the Redeveloper: (a) an agreement in the form
attached as Exhibit "B" hereto (the "Second Deed Modification"), and (b) an
agreement by and among MDDC, the Redeveloper and the City in the form attached
as Exhibit "C" hereto (the "H-Tract Tri-Party Agreement"); and

     WHEREAS, in light of the foregoing recitals, the City and the Redeveloper
are desirous of entering into this Fourth Amendment to amend various sections of
the Redevelopment Agreement; and

     WHEREAS, the City and the Redeveloper acknowledge that the mutual promises
contained in this Fourth Amendment are good and valuable consideration for the
binding execution of this Fourth Amendment;

     IT IS ON THE DATE STATED ABOVE AGREED BY AND BETWEEN THE CITY AND THE
REDEVELOPER AS FOLLOWS:

                          2. INCORPORATION OF RECITALS

2.0  INCORPORATION OF RECITALS. The recitals set forth in Section 1 of this
Fourth Amendment are hereby incorporated by reference and are considered a part
of this Fourth Amendment.

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                                 3. DEFINITIONS

3.0  GOVERNING DEFINITIONS. The defined words, phrases and terms in the
Agreement, the First Amendment, the Second Amendment, and the Third Amendment
shall have their same respective meanings in this Fourth Amendment unless the
context clearly indicates otherwise.

                           4. PROJECT IDENTIFICATION

4.0  THE MDDC PROJECT. The Redevelopment Agreement is hereby amended to add the
following provision:

     "3.1.6 THE MDDC PROJECT.

     Notwithstanding the terms of Section 3.1 of the Agreement, pursuant to
     Section 4.2.4 of the Redevelopment Plan, as it may be amended from time to
     time, the MDDC Project on the Joint Venture Property shall be considered a
     separate development tract within the Project Parcels for the development
     of the MDDC Project. The MDDC Project is hereby agreed to meet the terms
     and conditions of the Agreement and is found to be consistent with and
     meets the definition of and shall constitute the "Project" as set forth in
     Section 3.1 of the Agreement. Redeveloper has caused MDDC to agree to join
     in and deliver to the City MDDC's and Redeveloper's agreement, the form of
     which is attached hereto and made a part hereof as Exhibit "C" (the
     "H-Tract Tri-Party Agreement"). Upon the City's receipt of the H-Tract
     Tri-Party Agreement which has been executed by MDDC and Redeveloper, the
     City shall promptly execute and deliver same to MDDC and Redeveloper. The
     City agrees to provide any pertinent information in

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     its possession and to provide any reasonable assistance, without cost or
     expense to the City other than payroll and internal administrative costs,
     which may be required of it to enable MDDC to properly apply for and obtain
     such permits or approvals in a timely fashion, including making
     applications in the name of the City when reasonably advantageous or
     otherwise required to do so.

          MDDC and the Joint Venture Property are hereby released from the
     requirements, restrictions and conditions of the Agreement. No default by
     Redeveloper in the performance of any provision of the Redevelopment
     Agreement or the subsequent reversion of title of any of the MAC Property
     to the City will disturb or interfere with MDDC's use and enjoyment of the
     Joint Venture Property, the MDDC Project, or any improvements, including,
     without limitation, utilities, roadways, landscaping, lighting, and
     stormwater drainage, located on the MAC Property and used by MDDC in
     connection with the construction, use, operation, ownership, and management
     of the MDDC Project.

     3.1.7 RELEASE OF JOINT VENTURE PROPERTY AND MAC PROPERTY FROM CITY DEED
     RESTRICTIONS AND THE AGREEMENT RESTRICTING THE HARRAH'S LAND.

     Upon Substantial Completion of the MDDC Project (as defined in the H-Tract
     Tri-Party Agreement) and upon satisfaction of the other conditions set
     forth in the Second Deed Modification attached hereto as Exhibit "B", the
     City will execute and deliver that certain release of City Deed
     Restrictions in the form attached hereto as Exhibit "D" (the "Release of
     City Deed Restrictions"), whereby the City will release the Joint Venture
     Property and the MAC Property from the City Deed

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     Restrictions contained in the City Deed, as amended by the Second City Deed
     Modification, and the Agreement Restricting the Harrah's Land.

     3.1.8 NO EFFECT UPON JOINT VENTURE PROPERTY.

     No default by Redeveloper in the performance of any provision of the
     Redeveloper Agreement or any other agreement with the City and no
     termination of any such agreement, for any reason whatsoever, shall in any
     manner affect the City's rights or obligations with respect to the MDDC
     Project or the Joint Venture Property.

     3.1.9 TERMINATION OF JOINT VENTURE AGREEMENT.

     In the event, for any reason, the Joint Venture Agreement is terminated
     prior to the conveyance of the Joint Venture Property to MDDC (or its
     nominee), then in such event, upon such termination, the Second City Deed
     Modification shall be null and void and the City, the Redeveloper, and MDDC
     agree, that upon the request of the Redeveloper, to execute and deliver to
     the Redeveloper an instrument memorializing same, and further that this
     Section 4.0 shall be void and severed from the Agreement.

                         5. THE SECOND DEED MODIFICATION

5.0  THE SECOND DEED MODIFICATION. The Agreement is hereby amended to add the
following provision:

     "5.1.2.4 THE SECOND DEED MODIFICATION

     The City agrees that concurrently upon the execution of this Fourth
     Amendment, it will execute and deliver to the Redeveloper for recording the
     Second Deed

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     Modification, the form of which is attached hereto and made a part hereof
     as Exhibit "B".

                                6. MISCELLANEOUS

6.0  RATIFICATION OF ALL OTHER TERMS AND CONDITIONS OF THE REDEVELOPMENT
AGREEMENT AND THE FIRST AMENDMENT, THE SECOND AMENDMENT, AND THE THIRD
AMENDMENT.

     Except to the extent inconsistent with the terms and conditions of this
Fourth Amendment, all remaining terms and conditions of the Redevelopment
Agreement, the First Amendment, the Second Amendment, and the Third Amendment
are hereby ratified and confirmed and are agreed to be in full force and effect.

     IN WITNESS WHEREOF, the parties have executed this Fourth Amendment
effective as of the date appearing on the first page hereof.

ATTEST                                 CITY OF ATLANTIC CITY

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

                                       Approved as to form:

                                       MARY C. SIRACUSA
                                       ----------------------------------------
                                       Mary C. Siracusa, City Solicitor
                                       MAC, CORP.

ATTEST:

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

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                         EXHIBIT "A" TO FOURTH AMENDMENT

                           TO REDEVELOPMENT AGREEMENT

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

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                         EXHIBIT "B" TO FOURTH AMENDMENT

                           TO REDEVELOPMENT AGREEMENT

                            SECOND DEED MODIFICATION
                            ------------------------

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                         EXHIBIT "C" TO FOURTH AMENDMENT

                           TO REDEVELOPMENT AGREEMENT

                          H-TRACT TRI-PARTY AGREEMENT
                          ---------------------------

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                         EXHIBIT "D" TO FOURTH AMENDMENT

                           TO REDEVELOPMENT AGREEMENT

                   PROPOSED RELEASE OF CITY DEED RESTRICTIONS
                   ------------------------------------------

                    AND AGREEMENT RESTRICTING HARRAH'S LAND
                    ---------------------------------------

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                                                               EXHIBIT 10.4(15)

                       CONTRIBUTION AND ADOPTION AGREEMENT

     THIS CONTRIBUTION AND ADOPTION AGREEMENT (this "Agreement"), is made
effective as of the 13th day of December, 2000 (the "Effective Date"), by and
among MARINA DISTRICT DEVELOPMENT HOLDING CO., LLC, a New Jersey limited
liability company ("Holding"); MAC, CORP., a New Jersey corporation ("MR Sub");
and BOYD ATLANTIC CITY, INC., a New Jersey corporation ("Boyd Sub") (Holding, MR
Sub and Boyd Sub each, a "Party" and collectively, the "Parties").

                                   BACKGROUND

     A.   MR Sub and Boyd Sub were the sole, equal general partners in Marina
District Development Company, a New Jersey general partnership (the "Joint
Venture").

     B.   MR Sub and Boyd Sub formed, as the sole equal members (i) Marina
District Development Company, LLC, a New Jersey limited liability company
("MDDC"); and (ii) Marina District Development Holding Co., LLC ("Holding"), a
New Jersey limited liability company.

     C.   On the Effective Date, the Joint Venture merged with and into MDDC
pursuant to, and in accordance with, Section 42:1-49 of the New Jersey Uniform
Partnership Act and Section 42:2B-20 of the New Jersey Limited Liability Company
Act, and a Plan of Merger adopted by the Joint Venture and MDDC (the "Merger"),
pursuant to which (i) each of MR Sub and Boyd Sub contributed to MDDC its
respective partnership interests in the Joint Venture, which such interests
were, as a result of the Merger, cancelled; and (ii) MDDC is the surviving
entity of the Merger.

     D.   The Parties have agreed, among other things, and wish to memorialize
and carry out in accordance with the terms of this Agreement, that: (i) each of
MR Sub and Boyd Sub shall contribute to Holding its respective membership
interest in MDDC (collectively, the "MDDC Membership Interests"); (ii) Holding
shall adopt as its operating agreement that certain Second Amended and Restated
Joint Venture Agreement of the Partnership, dated as of August 31, 2000, by and
between MR Sub and Boyd Sub (the "Joint Venture Agreement"), as amended in
accordance with this Agreement; and (iii) MR Sub and Boyd Sub shall fulfill
their remaining obligations to Holding under the terms of the Joint Venture
Agreement, as amended, with regard to capital contributions by contributing the
capital to MDDC as designee of Holding, rather than directly to Holding.

     E.   MR Sub and Boyd Sub intend that the transactions described in Sections
B through D above not effect any substantive change in the Parties' rights and
obligations as set forth in the Joint Venture Agreement.

     NOW, THEREFORE, in consideration of the foregoing premises, the mutual
promises of the Parties and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged by each Party to the other, the
Parties, intending to be legally bound, hereby covenant and agree as follows:

                                      TERMS

     1.   INCORPORATION OF RECITALS. The recitals set forth above in Sections A
through E above are hereby incorporated into and made a part of this Agreement.

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     2.   CONTRIBUTION OF MDDC MEMBERSHIP INTERESTS. Each of MR Sub and Boyd Sub
hereby contributes to Holding, free and clear of all liens, pledges,
hypothecations or encumbrances of any type or nature whatsoever (collectively,
"Liens"), all of its respective MDDC Membership Interests, and Holding hereby
accepts the MDDC Membership Interests (the "Contribution"). As a result of the
Contribution, Holding is the sole member of MDDC, holding 100% of the membership
interests in MDDC.

     3.   ADOPTION OF JOINT VENTURE AGREEMENT AS OPERATING AGREEMENT. MR Sub and
Boyd Sub, in their capacity as the sole members of Holding, hereby adopt as the
operating agreement of Holding, the Joint Venture Agreement as amended in
accordance with the following (the "Operating Agreement"):

          A.   SECTION 1.1. Section 1.1 of the Joint Venture Agreement shall be
deleted and the following Section 1.1 shall be substituted:

          "SECTION 1.1 ORGANIZATION. THE MEMBERS HEREBY CONFIRM THAT THEY HAVE
          FORMED AND ESTABLISHED A LIMITED LIABILITY COMPANY (THE "COMPANY"),
          UNDER AND PURSUANT TO THE PROVISIONS OF THE NEW JERSEY LIMITED
          LIABILITY COMPANY ACT, N.J.S.A. 42:2B-1 ET SEQ., AS AMENDED (THE "LLC
          ACT"), UPON THE TERMS AND CONDITIONS SET FORTH IN THIS AGREEMENT."

          B.   SECTION 1.2. Section 1.2 of the Joint Venture Agreement shall be
deleted and the following Section 1.2 shall be substituted:

          "SECTION 1.2 NAME. THE NAME OF THE COMPANY SHALL BE MARINA DISTRICT
          DEVELOPMENT HOLDING CO., LLC, AND ALL BUSINESS OF THE COMPANY SHALL BE
          CONDUCTED SOLELY IN SUCH NAME OR IN SUCH OTHER NAME OR NAMES AS THE
          MEMBERS MAY MUTUALLY DETERMINE."

          C.   SECTION 1.4. Section 1.4 of the Joint Venture Agreement shall be
deleted and the following Section 1.4 shall be substituted:

          "SECTION 1.4 BUSINESS OF THE COMPANY. THE BUSINESS OF THE COMPANY IS
          TO ACQUIRE AND OWN THE PROPERTY AND TO DESIGN, DEVELOP, CONSTRUCT,
          FINANCE, OWN AND OPERATE THE FACILITY ON THE PROPERTY. THE PURPOSES OF
          THE COMPANY SHALL INCLUDE THE CONDUCT OF CASINO GAMING. THE BUSINESS
          OF THE COMPANY MAY BE CONDUCTED THROUGH ONE OR MORE OPERATING
          SUBSIDIARIES, INCLUDING BUT NOT LIMITED TO MDDC. IN FURTHERANCE OF ITS
          BUSINESS, THE COMPANY SHALL HAVE AND MAY EXERCISE ALL THE POWERS NOW
          OR HEREAFTER CONFERRED BY THE LAWS OF THE STATE OF NEW JERSEY ON
          LIMITED LIABILITY COMPANIES FORMED UNDER THE LAWS OF THAT STATE, AND
          MAY DO ANY AND ALL THINGS RELATED OR INCIDENTAL TO ITS BUSINESS AS
          FULLY AS NATURAL PERSONS MIGHT OR COULD DO UNDER THE LAWS OF THAT
          STATE. ONE SUCH POWER SHALL INCLUDE, BUT SHALL NOT BE LIMITED TO, THE
          CREATION, OWNERSHIP AND OPERATION OF AN ENTITY TO BE UTILIZED IN
          CONNECTION WITH FINANCING THE FACILITY, WHOSE BOARD OF DIRECTORS OR
          MANAGERS SHALL BE APPOINTED BY THE MANAGING MEMBER."

          D.   SECTION 1.9. Section 1.9 of the Joint Venture Agreement shall be
deleted and the following Section 1.9 shall be substituted:

          "SECTION 1.9 DURATION. THE COMPANY WAS FORMED ON NOVEMBER 21, 2000
          UPON THE FILING OF A CERTIFICATE OF FORMATION WITH THE NEW JERSEY
          DEPARTMENT OF TREASURY AND THE COMPANY SHALL CONTINUE IN EXISTENCE
          UNTIL DISSOLVED AND LIQUIDATED PURSUANT TO LAW OR ANY PROVISIONS OF
          THIS AGREEMENT."

          E.   SECTION 1.10. The definition of "Venturer" and "Venturers" in
Section 1.10 of the Joint Venture Agreement shall be deleted and the following
shall be substituted:

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          "MEMBER" AND "MEMBERS" MEANS, INDIVIDUALLY OR COLLECTIVELY, AS
          APPLICABLE, MR SUB AND BOYD SUB OR ANY SUCCESSOR TO EITHER PARTY BY
          TRANSFER EXPRESSLY PERMITTED BY THIS AGREEMENT.

          F.   SUBSTITUTION OF TERMS. All references in the Joint Venture
Agreement to the term or terms (A) "Venturer" or "Venturers," including
references in defined terms such as "Responding Venturer," "Defaulting
Venturer," "Managing Venturer," etc., shall be replaced with the terms "Member"
and "Members", respectively; (B) "Joint Venture" shall be replaced with the term
"Company"; and (C) "Second Amended and Restated Joint Venture Agreement" shall
be replaced with the term "Operating Agreement." For the purposes of this
Agreement, the term "Company" shall include, as appropriate, MDDC.

          G.   SECTION 2.5. The following sentence shall be added to the end of
Section 2.5 of the Joint Venture Agreement:

          "THE LIABILITY OF EACH OF MR SUB AND BOYD SUB AS A MEMBER OF HOLDING
          SHALL BE LIMITED AS SET FORTH IN THE OPERATING AGREEMENT, THE LLC ACT
          AND OTHER APPLICABLE LAW, AS EACH IS AMENDED FROM TIME TO TIME."

          H.   Section 3.3(a) of the Joint Venture Agreement shall be deleted
and the following Section 3.3(a) shall be substituted:

               "(a) MR SUB HAS PREVIOUSLY CONTRIBUTED THE PROPERTY TO THE JOINT
          VENTURE PURSUANT TO SECTION 3.2, AND CONCURRENTLY THEREWITH, BOYD SUB
          MADE AN ADDITIONAL CAPITAL CONTRIBUTION OF CASH IN THE AMOUNT OF
          $90,000,000 TO THE COMPANY. FROM TIME TO TIME, EXCEPT AS OTHERWISE
          PROVIDED IN THIS SECTION 3.3(a), EACH OF THE MEMBERS SHALL
          CONCURRENTLY MAKE EQUAL ADDITIONAL CAPITAL CONTRIBUTIONS OF CASH
          AGGREGATING $117,000,000 EACH TO THE COMPANY AT SUCH TIME OR TIMES AS
          REQUIRED BY THE PROVIDER OF THE CONSTRUCTION FINANCING OR AT THE TIME
          OR TIMES AS THE MANAGING MEMBER REASONABLY DETERMINES NECESSARY TO
          COINCIDE WITH THE FUNDING OF PROJECT COSTS; PROVIDED, HOWEVER, THAT IF
          ACCEPTABLE TO THE PROVIDER OF THE CONSTRUCTION FINANCING, EACH OF THE
          MEMBERS MAY PROVIDE ALL OR PART OF SUCH $117,000,000 CASH CONTRIBUTION
          AS SUBORDINATED LOANS, ON SUCH TERMS AS THE MEMBERS MAY MUTUALLY
          DETERMINE, RATHER THAN AS CAPITAL CONTRIBUTIONS. NOTWITHSTANDING THE
          FOREGOING, IF ACCEPTABLE TO THE PROVIDER OF CONSTRUCTION FINANCING,
          EACH MEMBER SHALL BE ENTITLED TO DEFER A PORTION OF SUCH $117,000,000
          CAPITAL CONTRIBUTION BY PROVIDING THE COMPANY WITH A STANDBY LETTER OF
          CREDIT IN THE AMOUNT OF $25,000,000 AS SECURITY FOR ITS OBLIGATION TO
          CONTRIBUTE SUCH AMOUNT. ANY SUCH LETTER OF CREDIT SHALL BE ON TERMS
          AND CONDITIONS REASONABLY ACCEPTABLE TO THE MEMBERS AND TO THE
          PROVIDER OF THE CONSTRUCTION FINANCING, BUT IN ANY EVENT, EACH SUCH
          LETTER OF CREDIT SHALL PROVIDE THAT THE LETTER OF CREDIT MAY BE DRAWN
          IF, BUT ONLY IF, THE RESPECTIVE MEMBER SHALL FAIL TO CONTRIBUTE THE
          CAPITAL CONTRIBUTION SECURED BY SUCH LETTER OF CREDIT AT THE TIME
          REQUIRED BY EITHER THE MANAGING MEMBER OR BY THE PROVIDER OF
          CONSTRUCTION FINANCING PURSUANT TO THE EXPRESS TERMS OF THE
          CONSTRUCTION FINANCING. THE PARTIES ACKNOWLEDGE AND AGREE THAT
          PURSUANT TO THE TERMS OF THE CONSTRUCTION FINANCING, THE COMPANY MAY
          BE REQUIRED TO FUND IN BALANCE CONTRIBUTIONS (THE AGGREGATE AMOUNT OF
          SUCH CONTRIBUTIONS HEREIN REFERRED TO AS "IN BALANCE CONTRIBUTIONS")
          BASED ON ONE OR MORE REVISED ESTIMATES THAT TOTAL PROJECT COSTS WILL
          BE IN EXCESS OF $1,035,000,000 (EXCLUDING THE ITEMS SET FORTH IN
          SECTION 3.3(b) SUBPARTS (i), (ii) AND (iii) BELOW). IN THE EVENT THE
          PROVIDER OF CONSTRUCTION FINANCING REQUIRES ANY SUCH IN BALANCE
          CONTRIBUTIONS, BOYD SUB SHALL MAKE SUCH IN BALANCE CONTRIBUTIONS. FOR
          PURPOSES OF THIS AGREEMENT, IN BALANCE CONTRIBUTIONS SHALL BE
          CONSIDERED AS ADDITIONAL CAPITAL CONTRIBUTIONS BY BOYD SUB. UPON THE
          FINAL COMPLETION OF THE PROJECT IN ACCORDANCE WITH THE TERMS HEREOF
          AND TERMINATION OF ANY REMAINING LIABILITY UNDER EACH MEMBER'S STANDBY
          LETTER

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          OF CREDIT, IN ORDER TO PROPERLY REFLECT THE CAPITAL CONTRIBUTIONS OF
          THE MEMBERS, IF ANY IN BALANCE CONTRIBUTIONS HAVE BEEN MADE BY BOYD
          SUB, TO THE EXTENT THAT ANY SUCH IN BALANCE CONTRIBUTIONS WERE NOT
          ACTUALLY NEEDED IN ORDER TO FUND PROJECT COSTS IN EXCESS OF
          $1,035,000,000 (EXCLUDING FOR PURPOSES HEREOF ANY PROJECT COSTS OF THE
          TYPE SET FORTH IN SECTION 3.3(b) SUBPARTS (i), (ii) OR (iii) BELOW,
          WHICH ITEMS ARE NOT THE SOLE RESPONSIBILITY OF BOYD SUB PURSUANT TO
          THE TERMS HEREOF) (A "BOYD SUB OVERPAYMENT"), THEN MRI SHALL CAUSE MR
          SUB TO REIMBURSE BOYD SUB DIRECTLY OUTSIDE OF THE COMPANY AN AMOUNT
          EQUAL TO ONE-HALF (1/2) OF THE BOYD SUB OVERPAYMENT (THE "MR SUB
          REIMBURSEMENT"). AT SUCH TIME, MR SUB'S CAPITAL ACCOUNT SHALL BE
          INCREASED BY THE AMOUNT OF THE MR SUB REIMBURSEMENT, AND BOYD SUB'S
          CAPITAL ACCOUNT SHALL BE REDUCED BY THE AMOUNT OF SUCH MR SUB
          REIMBURSEMENT. IN NO EVENT SHALL MR SUB BE REQUIRED TO MAKE THE MR SUB
          REIMBURSEMENT TO THE EXTENT THAT THE TOTAL ADDITIONAL CAPITAL
          CONTRIBUTIONS MADE BY MR SUB PURSUANT TO THIS SECTION 3.3(a),
          INCLUDING ANY REMAINING LIABILITY UNDER MR SUB'S STANDBY LETTER OF
          CREDIT, PLUS THE AMOUNT OF THE MR SUB REIMBURSEMENT, WOULD EXCEED
          $117,000,000.

          I.   A new Section 3.3(f) shall be added to the Joint Venture
Agreement as follows:

               "(f) IN THE EVENT THAT ANY PROVIDER OF CONSTRUCTION FINANCING
          BECOMES A "DEFAULTING LENDER" OR A "DISQUALIFIED LENDER" (AS SUCH
          TERMS ARE DEFINED IN THE CONSTRUCTION FINANCING DOCUMENTS) AND A
          REPLACEMENT LENDER HAS NOT ASSUMED THE COMMITMENT OF SUCH DEFAULTING
          LENDER OR DISQUALIFIED LENDER, THEN EACH MEMBER SHALL FUND ONE-HALF OF
          THE LOANS OF SUCH DEFAULTING LENDER OR DISQUALIFIED LENDER AS AND WHEN
          LOANS ARE REQUIRED TO BE FUNDED UNDER THE CONSTRUCTION FINANCING, AND
          SHALL THEREBY ASSUME THE RIGHTS AND OBLIGATIONS (OTHER THAN VOTING
          RIGHTS) OF SUCH DEFAULTING LENDER OR DISQUALIFIED LENDER. THE MANAGING
          MEMBER SHALL USE REASONABLE COMMERCIAL EFFORTS AS PROMPTLY AS
          PRACTICABLE TO FIND AN ELIGIBLE ASSIGNEE UNDER THE TERMS OF THE
          CONSTRUCTION FINANCING TO ASSUME THE COMMITMENTS OF THE DEFAULTING
          LENDER OR DISQUALIFIED LENDER AND TO PURCHASE THE LOANS MADE BY THE
          MEMBERS AS CONTEMPLATED BY THIS SECTION 3.3(f)."

          J.   Section 7.13 shall be added to the Joint Venture Agreement as
follows:

          "SECTION 7.13 CONSOLIDATED RECORDS. THE BOOKS, RECORDS, REPORTS, AND
          RETURNS CONTEMPLATED BY THIS SECTION 7 SHALL INCLUDE MDDC."

          K.   Section 9.1 of the Joint Venture Agreement shall be amended to
add subsection (n) as follows:

          "(n) OVERSEE, OPERATE AND MANAGE THE COMPANY'S SUBSIDIARIES, INCLUDING
          WITHOUT LIMITATION, MDDC, AND TAKE ACTIONS WITH RESPECT TO SUCH
          SUBSIDIARIES AS ARE CONTEMPLATED UNDER SUBSECTIONS (a)-(m) ABOVE."

          L.   Section 9.2 of the Joint Venture Agreement shall be amended to
add subsection (r) as follows:

          "(r) TRANSFER (AS DEFINED IN SECTION 11.1, BELOW) ANY INTEREST IN ANY
          SUBSIDIARY, INCLUDING MDDC, OR ISSUE ANY INTEREST IN SUCH SUBSIDIARY,
          OR TAKE ANY ACTION DESCRIBED IN SUBSECTIONS (a)-(q), ABOVE, THROUGH,
          ON BEHALF OF OR WITH RESPECT TO SUCH SUBSIDIARY."

          M.   Sections 11.2(c), 13.1(d) and 14.9 of the Joint Venture Agreement
are deleted in their entirety and amended to read "Intentionally Omitted".

                                       4

<PAGE>

     4.   DIRECTION AND CONSENT WITH REGARD TO CERTAIN OBLIGATIONS.

          A.   DIRECTION AND CONSENT WITH REGARD TO CAPITAL CONTRIBUTIONS.
Holding hereby authorizes and directs MR Sub and Boyd Sub, and MR Sub and Boyd
Sub hereby acknowledge and agree to comply with such authorization and
direction, as follows: whenever the Operating Agreement requires either MR Sub
or Boyd Sub to make a capital contribution to Holding, including without
limitation, the capital contributions required under Article 3 of the Operating
Agreement (to the extent not previously made to MDDC or the Joint Venture), MR
Sub or Boyd Sub, as the case may be, must and shall fulfill its obligation to
make such capital contribution by contributing the required capital to MDDC,
rather than directly to Holding. Notwithstanding the foregoing, the Parties
hereby acknowledge that the Property (as defined in the Joint Venture Agreement)
has been previously contributed by MR Sub to the Joint Venture, and pursuant to
the Merger, the Property is now held by MDDC.

          B.   AUTHORIZATION AND CONSENT WITH REGARD TO OTHER OBLIGATIONS. The
Parties hereby acknowledge and agree that whenever the Operating Agreement
establishes rights and obligations of Boyd Sub and/or MR Sub to, or with respect
to, Holding, including, without limitation, such rights and obligations
regarding: (1) the Road Development Agreement; (2) the Special Revenue Bonds;
(3) the Ordinance; (4) the Employee Parking Lot and Option regarding same; (5)
the Jobs and Business Opportunities Program; and (6) the CRDA funds (as each
such term is defined in the Operating Agreement), Holding shall have the sole
right and discretion to authorize and direct either or both of MR Sub and Boyd
Sub, and MR Sub and/or Boyd Sub, as the case may be, shall comply with such
authorization and direction, to perform or fulfill such obligations as to MDDC,
rather than directly as to Holding.

          C.   CONTINUED RESPONSIBILITY FOR CERTAIN COSTS. The Parties hereby
acknowledge and agree that nothing in this Section 4 is intended to, and shall
not be construed to, relieve either Boyd Sub or MR Sub from any responsibility
for the payment of certain costs and expenses as specified in the Operating
Agreement, solely as the result of Holding's authorization and direction to
contribute or perform as to MDDC, rather than directly to Holding including,
without limitation, MR Sub's sole responsibility to pay all real property
transfer taxes or fees and any other costs and expenses of conveying the
Property (as defined in the Operating Agreement) to MDDC.

          D.   CONFIRMATION OF ALLOCATIONS. The Parties hereby acknowledge and
agree that (1) nothing set forth in this Agreement is intended to amend, revise
or alter (A) the allocation of Profits and Losses and the respective Capital
Accounts (as such terms are defined in the Operating Agreement) of MR Sub or
Boyd Sub; or (B) the special allocations set forth in Section 5.2 of the
Operating Agreement; and (2) the terms and conditions of the Operating Agreement
shall govern and prevail with respect to the allocations referenced in the
provisions of Section 4.D(1) immediately above.

     5.   NO VIOLATION. The Parties hereby acknowledge and agree that nothing in
this Agreement, including Holding's authorization and direction with regard to
capital contributions set forth in Section 4A above or Holding's right to make
future directions with regard to capital contributions and the fulfillment of
performance obligations set forth in Section 4B above is in violation, or
constitutes a breach, of any provision of the Operating Agreement including,
without limitation, any provision of Section 3.4(b), Section 9.3 or Article 11.

     6.   REPRESENTATIONS AND WARRANTIES OF MR SUB. MR Sub hereby restates and
confirms as of the Effective Date all of the representations and warranties made
by MR Sub in the Joint Venture Agreement, including but not limited to the
representations and warranties in Section 10.1 thereof. In addition, MR Sub
hereby represents and warrants to Holding and to Boyd Sub, as follows:

                                       5

<PAGE>

          A.   NO FURTHER APPROVAL. All corporate action required to be taken by
MR Sub to enter into and carry out the terms of this Agreement has been taken
and, except as otherwise provided or contemplated in this Agreement, no further
approval of any governmental agency, court or other body is necessary in order
to permit MR Sub to enter into and carry out the terms of this Agreement.

          B.   DUE EXECUTION; BINDING OBLIGATION. This Agreement has been duly
executed and delivered by MR Sub and constitutes the legal, valid and binding
obligation of MR Sub, enforceable in accordance with its terms (subject to
applicable bankruptcy, insolvency, moratorium or similar laws affecting
creditors' rights generally, equitable principles and judicial discretion).

          C.   NO VIOLATION. To the best of MR Sub's knowledge, neither the
execution and delivery of this Agreement, nor the performance of its obligations
hereunder, has resulted or will result in any violation of, or default under,
the certificate of incorporation or by-laws of MR Sub or any indenture, trust
agreement, mortgage or other agreement or any permit, judgment, decree or order
to which MR Sub is a party or by which it is bound and there is no default and
no event or omission has occurred which, with the passage of time or the giving
of notice or both, would constitute a default on the part of MR Sub under this
Agreement.

          D.   NO PROCEEDINGS. To the best of MR Sub's knowledge, there is no
action, proceeding or investigation, pending or threatened, which questions the
validity or enforceability of this Agreement as to MR Sub.

          E.   NO LIENS. All of the MDDC Membership Interests owned by MR Sub
are currently owned, and are being contributed to Holding, free and clear of all
Liens.

     7.   REPRESENTATIONS AND WARRANTIES OF BOYD SUB. Boyd Sub hereby restates
and confirms as of the Effective Date all of the representations and warranties
made by Boyd Sub in the Joint Venture Agreement, including but not limited to
the representations and warranties in Section 10.2 thereof. In addition, Boyd
Sub hereby represents and warrants to MR Sub and Holding, as follows:

          A.   NO FURTHER APPROVAL. All corporate action required to be taken by
Boyd Sub to enter into and carry out the terms of this Agreement has been taken
and, except as otherwise provided or contemplated in this Agreement, no further
approval of any governmental agency, court or other body is necessary in order
to permit Boyd Sub to enter into and carry out the terms of this Agreement.

          B.   DUE EXECUTION; BINDING OBLIGATION. This Agreement has been duly
executed and delivered by Boyd Sub and constitutes the legal, valid and binding
obligation of Boyd Sub, enforceable in accordance with its terms (subject to
applicable bankruptcy, insolvency, moratorium or similar laws affecting
creditors' rights generally, equitable principles and judicial discretion).

                                       6

<PAGE>

          C.   NO VIOLATION. To the best of Boyd Sub's knowledge, neither the
execution and delivery of this Agreement, nor the performance of its obligations
hereunder, has resulted or will result in any violation of, or default under,
the certificate of incorporation or by-laws of Boyd Sub or any indenture, trust
agreement, mortgage or other agreement or any permit, judgment, decree or order
to which Boyd Sub is a party or by which it is bound and there is no default and
no event or omission has occurred which, with the passage of time or the giving
of notice or both, would constitute a default on the part of Boyd Sub under this
Agreement.

          D.   NO PROCEEDINGS. To the best of Boyd Sub's knowledge, there is no
action, proceeding or investigation, pending or threatened, which questions the
validity or enforceability of this Agreement as to Boyd Sub.

          E.   NO LIENS. All of the MDDC Membership Interests owned by Boyd Sub
are currently owned, and are being contributed to Holding, free and clear of all
Liens.

     8.   RATIFICATION AND CONFIRMATION . Except as, and to the extent, amended
in accordance with the terms of this Agreement, all other provisions of the
Joint Venture Agreement are hereby ratified and confirmed by the Parties as
provisions of the Operating Agreement. To the extent that this Agreement
expressly conflicts with the Joint Venture Agreement, the terms of this
Agreement shall prevail. Notwithstanding the foregoing, it is the Parties'
intent that the transactions described in the Recitals not substantively change
the rights and obligations as set forth in the Joint Venture Agreement prior to
the date hereof.

     9.   MISCELLANEOUS PROVISIONS.

          A.   AMENDMENTS. The provisions of this Agreement may not be waived,
amended or repealed, in whole or in part, by any of the Parties, except with the
written consent of each of the Parties.

          B.   SUCCESSORS AND ASSIGNS. This Agreement shall be binding on, and
inure to the benefit of, the Parties and their respective legal representatives,
successors and permitted transferees and assigns.

          C.   SEVERABILITY. Each provision of this Agreement is intended to be
severable. If any term or provision hereof is held to be illegal or invalid for
any reason, such illegality or invalidity shall not affect the legality or
validity of the remainder of this Agreement.

          D.   COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

          E.   ENTIRE AGREEMENT; NO ASSIGNMENT. This Agreement, including the
Joint Venture Agreement as revised in accordance with the terms of this
Agreement, constitutes the complete and exclusive statement of the agreement
among the Parties with regard to its subject matter. No Party may assign its
rights or obligations under this Agreement to any other person or entity without
the prior written consent of each of the other Parties and any attempt to do so
will be null and void as of the inception and of no effect.

          F.   FURTHER ASSURANCES. Each of the Parties agrees to perform any
further acts and execute, acknowledge and deliver any documents or instruments
which

                                       7

<PAGE>

may be reasonably necessary or appropriate to carry out the provisions of this
Agreement.

          G.   GOVERNING LAW AND CHOICE OF FORUM. This Agreement shall be
governed by and construed in accordance with the laws of the State of New Jersey
without regard to its conflict of laws principles. In the event of any
litigation between or among any of the Parties concerning or arising out of this
Agreement, the Parties hereby consent to the exclusive jurisdiction of the
federal and state courts in New Jersey.

     IN WITNESS WHEREOF, the Parties have executed this Agreement as of the
Effective Date.

                                       MARINA DISTRICT DEVELOPMENT
                                         HOLDING CO., LLC

                                       By Its Members:

                                       MAC, CORP., Member

                                   By: PETER C. WALSH
                                       ----------------------------------------
                                       Peter C. Walsh, Assistant Secretary

                                       Boyd Atlantic City, Inc., Member

                                   By: ELLIS LANDAU
                                       ----------------------------------------
                                       Ellis Landau

                                       Vice President, Treasurer and Chief
                                         Financial Officer

                                       MAC, CORP.

                                   By: PETER C. WALSH
                                       ----------------------------------------
                                       Peter C. Walsh, Assistant Secretary

                                       BOYD ATLANTIC CITY, INC.

                                   By: ELLIS LANDAU
                                       ----------------------------------------
                                       Ellis Landau

                                       Vice President, Treasurer and Chief
                                         Financial Officer

                                     [signatures continued on next page]

                                       Marina District Development Company, LLC,
                                       hereby

                                       8

<PAGE>

                                       acknowledges and consents to the terms
                                       of this Agreement.

                                       Marina District Development
                                         Company, LLC

                                       By Its Members:

                                       MAC, CORP., Member

                                   By: PETER C. WALSH
                                       ----------------------------------------
                                       Peter C. Walsh, Assistant Secretary

                                       Boyd Atlantic City, Inc., Member

                                   By: ELLIS LANDAU
                                       ----------------------------------------
                                       Ellis Landau
                                       Vice President, Treasurer and Chief
                                         Financial Officer

     Each of the undersigned, Mirage Resorts, Incorporated and Boyd Gaming
Corporation, hereby (1) acknowledges and consents to the terms of this
Agreement; and (2) reaffirms the continuing existence of its respective
obligations under the Joint Venture Agreement, which obligations shall remain
unchanged by virtue of the Merger, this Agreement or any transactions
contemplated in connection with either the Merger or this Agreement.

                                       Mirage Resorts, Incorporated

                                   By: GARY N. JACOBS
                                       ----------------------------------------
                                       Name/Title:  Gary N. Jacobs
                                                    Assistant Secretary

                                       Boyd Gaming Corporation

                                   By: ELLIS LANDAU
                                       ----------------------------------------
                                       Ellis Landau
                                       Executive Vice President, Treasurer and
                                         Chief Financial Officer

                                       9

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