Document:

Amended and Restated Design-Build Agreement

 Exhibit 10.5 
  
 AMENDED AND RESTATED DESIGN-BUILD AGREEMENT 
  
 FOR 
  
 GUARANTEED MAXIMUM PRICE 
 ARCHITECTURAL, ENGINEERING AND 
 CONSTRUCTION SERVICES 
  
 BETWEEN 
  
 WYNN RESORTS (MACAU) S.A. 
 (“Owner”) 
  
 AND 
  
 LEIGHTON CONTRACTORS (ASIA) LIMITED, 
  
 CHINA STATE CONSTRUCTION ENGINEERING 
 (HONG KONG) LIMITED, 
  
 AND 
  
 CHINA CONSTRUCTION ENGINEERING

 (MACAU) COMPANY LIMITED 
  
 (jointly and severally, “Contractor”) 
  
 FOR 
 LUXURY RESORT CASINO COMPLEX IN
MACAU 
  
 As of September 14, 2005 

					
	 	  	 	  	Page

		
	 ARTICLE I. CERTAIN DEFINITIONS
	  	2
		
	 ARTICLE II. INTENT, INTERPRETATION AND CORRELATION
	  	13
	 2.1
	  	 Intent of the Contract Documents
	  	13
	 2.2
	  	 Order of Precedence
	  	14
	 2.3
	  	 Contractor’s Compliance with Contract Documents
	  	14
	 2.4
	  	 Joint and Several Liability
	  	15
		
	 ARTICLE III. GUARANTEED MAXIMUM PRICE
	  	16
	 3.1
	  	 Guaranteed Maximum Price
	  	16
	 3.2
	  	 Cost of the Work
	  	22
	 3.3
	  	 Non-Allowable Cost of the Work
	  	28
	 3.4
	  	 Contractor’s Responsibility For Taxes
	  	31
	 3.5
	  	 Discounts, Rebates and Refunds
	  	32
	 3.6
	  	 No Duplication
	  	32
		
	 ARTICLE IV. CONTRACT TIME AND INTERIM MILESTONE DATES
	  	32
	 4.1
	  	 Definitions
	  	32
	 4.2
	  	 Time of the Essence
	  	33
	 4.3
	  	 Completion Guarantees
	  	34
	 4.4
	  	 Liquidated Damages With Respect to Delays
	  	35
	 4.5
	  	 Early Completion
	  	37
	 4.6
	  	 Guarantees of Completion and Performance
	  	38
		
	 ARTICLE V. PAYMENTS TO CONTRACTOR
	  	39
	 5.1
	  	 Schedule of Values
	  	39
	 5.2
	  	 Applications For Progress Payments
	  	40
	 5.3
	  	 Time of Payments
	  	42
	 5.4
	  	 Owner’s Right To Withhold
	  	43
	 5.5
	  	 Joint Payee Checks
	  	46
	 5.6
	  	 Retention
	  	47
	 5.7
	  	 Substantial Completion Payments
	  	48
	 5.8
	  	 Final Payment
	  	49
	 5.9
	  	 Disputed Payments
	  	51
	 5.10
	  	 Ownership of Materials
	  	52
	 5.11
	  	 Deposits and Advance Payments
	  	52
	 5.12
	  	 Waiver
	  	52
	 5.13
	  	 Materials Off-Site
	  	53
		
	 ARTICLE VI. OWNER’S RESPONSIBILITIES
	  	54
	 6.1
	  	 Information and Services
	  	54
	 6.2
	  	 Limitations
	  	55
	 6.3
	  	 Owner’s Representative
	  	55
	 6.4
	  	 Site Access
	  	56
	 6.5
	  	 Payments
	  	56
	 6.6
	  	 Proof of Funding
	  	56

					
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	 6.7
	  	 Good Faith
	  	56
		
	 ARTICLE VII. CONTRACTOR’S RESPONSIBILITIES
	  	56
	 7.1
	  	 Contractor's Specific Representations, Warranties and Covenants
	  	56
	 7.2
	  	 Further Covenants
	  	61
	 7.3
	  	 Preconstruction Services
	  	64
	 7.4
	  	 Systems and Procedures
	  	65
	 7.5
	  	 Schedule Meetings and Records
	  	66
	 7.6
	  	 Contractor’s Operations
	  	67
	 7.7
	  	 Site Discipline
	  	68
	 7.8
	  	 Site Security
	  	70
	 7.9
	  	 Coordination With Others
	  	71
	 7.10
	  	 Product and Design Substitutions
	  	72
	 7.11
	  	 Tests and Inspections
	  	73
	 7.12
	  	 Access to Stored Material
	  	74
	 7.13
	  	 Shop Drawings, Product Data and Samples
	  	74
	 7.14
	  	 Project Record Documents and As-Built Requirements
	  	75
	 7.15
	  	 Site Clean Up
	  	76
	 7.16
	  	 Construction Facilities and Temporary Controls
	  	78
	 7.17
	  	 Cutting and Patching of Work
	  	79
	 7.18
	  	 On-Demand Bond Requirements
	  	79
	 7.19
	  	 Liens
	  	81
	 7.20
	  	 Royalties and Patents
	  	82
	 7.21
	  	 Training
	  	82
	 7.22
	  	 Construction Photographs
	  	83
	 7.23
	  	 Statement of Unpaid Claims
	  	83
	 7.24
	  	 Protection of Work
	  	83
	 7.25
	  	 Information to Authorities
	  	83
	 7.26
	  	 Hazardous Materials
	  	84
	 7.27
	  	 Taxes, Customs and Import Duties
	  	85
		
	 ARTICLE VIII. ARCHITECT/ENGINEER; DESIGN DOCUMENTS
	  	86
	 8.1
	  	 Architect’s/Engineer’s Administration of the Contract
	  	86
	 8.2
	  	 Design Information, Drawings and Manuals
	  	86
		
	 ARTICLE IX. SUBCONTRACTORS AND VENDORS
	  	91
	 9.1
	  	 Subcontractors and Vendors
	  	91
	 9.2
	  	 Consent To Use Proposed Subcontractors and Vendors
	  	91
	 9.3
	  	 Award of Subcontracts and Purchase Orders
	  	92
	 9.4
	  	 Subcontractors and Vendors Designated By Owner
	  	93
	 9.5
	  	 Payments to Subcontractors from the Contractor
	  	93
	 9.6
	  	 Subcontractor and Vendor Replacements
	  	93
	 9.7
	  	 Communications With Subcontractors and Vendors
	  	93
	 9.8
	  	 Assignment
	  	93

					
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	 ARTICLE X. WARRANTY OBLIGATIONS
	  	94
	 10.1
	  	 Contractor’s Warranty
	  	94
	 10.2
	  	 Contractor’s Defects Liability Period and Other Warranty Periods
	  	95
	 10.3
	  	 Compliance With Contract Documents
	  	95
	 10.4
	  	 Warranty Costs
	  	96
	 10.5
	  	 Timeliness of Corrective Services
	  	96
	 10.6
	  	 Warranty Survival
	  	97
	 10.7
	  	 Owner’s Right To Correct
	  	97
	 10.8
	  	 Owner’s Right to Supplement Work of Contractor
	  	97
	 10.9
	  	 Acceptance of Non-Conforming Work
	  	98
	 10.10
	  	 Warranty Exclusions
	  	98
	 10.11
	  	 Written Guaranty
	  	98
		
	 ARTICLE XI. SCHEDULING, DELAYS AND ACCELERATION
	  	99
	 11.1
	  	 Owner’s Right to Modify
	  	99
	 11.2
	  	 Project Schedule
	  	99
	 11.3
	  	 Schedule Updates
	  	99
	 11.4
	  	 Events of Force Majeure
	  	100
	 11.5
	  	 Owner Delay
	  	101
	 11.6
	  	 Extensions of Time and Guaranteed Maximum Price Increases for Delay
	  	101
	 11.7
	  	 Limitations
	  	104
	 11.8
	  	 Recovery Plans
	  	104
	 11.9
	  	 Accelerations for Owner’s Convenience
	  	107
	 11.10
	  	 Schedule Coordination
	  	107
	 11.11
	  	 Flow-Down Provisions
	  	108
	 11.12
	  	 Partial Occupancy Or Use
	  	108
	 11.13
	  	 Timely Completion
	  	108
		
	 ARTICLE XII. SUBSTANTIAL AND FINAL COMPLETION
	  	109
	 12.1
	  	 Substantial Completion Procedures and Requirements
	  	109
	 12.2
	  	 Final Completion Procedures and Requirements
	  	112
		
	 ARTICLE XIII. CONCEALED CONDITIONS AND UNCOVERING OF WORK
	  	115
	 13.1
	  	 Concealed Conditions
	  	115
	 13.2
	  	 Covering of Work
	  	115
		
	 ARTICLE XIV. INDEMNIFICATION
	  	116
	 14.1
	  	 Indemnity
	  	116
	 14.2
	  	 Defense Costs
	  	117
	 14.3
	  	 Hazardous Materials
	  	117
	 14.4
	  	 Other Limitations
	  	117
	 14.5
	  	 Survival of Indemnification Provisions
	  	118
	 14.6
	  	 Risk
	  	118
	 14.7
	  	 Limit on Consequential Damages
	  	118

					
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	 ARTICLE XV. INSURANCE
	  	119
	 15.1
	  	 Types of Insurance
	  	119
	 15.2
	  	 Evidence of Coverage
	  	121
	 15.3
	  	 Deductibles
	  	121
	 15.4
	  	 Cooperation by the Parties
	  	121
	 15.5
	  	 Duration
	  	121
		
	 ARTICLE XVI. SAFETY AND COMPLIANCE
	  	122
	 16.1
	  	 Contractor’s Site Safety Responsibilities
	  	122
	 16.2
	  	 Compliance
	  	123
		
	 ARTICLE XVII. TERMINATION OR SUSPENSION OF THE CONTRACT
	  	123
	 17.1
	  	 Material Default By Contractor
	  	123
	 17.2
	  	 Termination For Convenience
	  	128
	 17.3
	  	 Suspensions By Owner
	  	130
	 17.4
	  	 Limitations
	  	131
	 17.5
	  	 Other Rights and Remedies
	  	131
	 17.6
	  	 Contractor’s Remedies
	  	132
		
	 ARTICLE XVIII. CHANGE IN THE WORK
	  	133
	 18.1
	  	 Change
	  	133
	 18.2
	  	 Change Order
	  	133
	 18.3
	  	 Change Proposal Request
	  	133
	 18.4
	  	 Construction Change Directive
	  	134
	 18.5
	  	 Determination of Increases or Decreases in Guaranteed Maximum Price
	  	136
	 18.6
	  	 Simultaneous Submittal Requirements
	  	137
	 18.7
	  	 Continued Performance
	  	137
	 18.8
	  	 Effect of Change Orders
	  	138
	 18.9
	  	 Verbal Instructions and Minor Changes in the Work
	  	138
	 18.10
	  	 Waiver and Release of Contractor’s Rights
	  	139
		
	 ARTICLE XIX. RECORD KEEPING AND AUDIT RIGHTS
	  	139
	 19.1
	  	 Required Accounting Records
	  	139
	 19.2
	  	 Purpose and Extent of Record Access
	  	139
	 19.3
	  	 Record Keeping Formats
	  	140
	 19.4
	  	 Certifications
	  	140
	 19.5
	  	 Flow-Down Provisions
	  	140
	 19.6
	  	 Remedies
	  	140
	 19.7
	  	 Record Retention
	  	141
		
	 ARTICLE XX. CLAIMS
	  	141
	 20.1
	  	 Definition
	  	141
	 20.2
	  	 Notice
	  	141
	 20.3
	  	 Pending Resolution
	  	141
	 20.4
	  	 Final Settlement of Claims
	  	142

					
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	 20.5
	  	 Unresolved Claims
	  	142
		
	 ARTICLE XXI. OWNER’S LENDERS
	  	142
	 21.1
	  	 Owner’s Lenders
	  	142
	 21.2
	  	 Assignment and Default
	  	142
	 21.3
	  	 Owner’s Lenders Election
	  	143
	 21.4
	  	 Payment and Work Continuation
	  	143
	 21.5
	  	 Payments
	  	144
	 21.6
	  	 Audit Rights
	  	144
	 21.7
	  	 Access
	  	144
	 21.8
	  	 Material Changes
	  	144
	 21.9
	  	 General Cooperation
	  	144
		
	 ARTICLE XXII. DISPUTE RESOLUTION AND GOVERNING LAW
	  	145
	 22.1
	  	 Arbitration
	  	145
	 22.2
	  	 Consolidation of Disputes
	  	147
	 22.3
	  	 Legal Fees
	  	147
	 22.4
	  	 Continued Performance
	  	147
	 22.5
	  	 Governing Law
	  	147
	 22.6
	  	 Non-Waiver
	  	148
		
	 ARTICLE XXIII. PROPRIETARY INFORMATION AND USE OF OWNER’S NAME
	  	148
	 23.1
	  	 Proprietary Information
	  	148
	 23.2
	  	 Advertising and Use of Owner’s Name
	  	148
	 23.3
	  	 Use of Drawings
	  	148
		
	 ARTICLE XXIV. MISCELLANEOUS PROVISIONS
	  	148
	 24.1
	  	 Assignment
	  	148
	 24.2
	  	 Subordination
	  	149
	 24.3
	  	 No Third-Party Beneficiaries
	  	149
	 24.4
	  	 Enforceability
	  	149
	 24.5
	  	 Headings
	  	150
	 24.6
	  	 Counterparts
	  	150
	 24.7
	  	 Subcontractors
	  	150
	 24.8
	  	 Waiver
	  	150
	 24.9
	  	 Sovereign Immunity
	  	150
	 24.10
	  	 Survival
	  	150
	 24.11
	  	 Independent Contractor
	  	150
	 24.12
	  	 Privileged Business
	  	151
	 24.13
	  	 Entire Agreement
	  	151
	 24.14
	  	 Rights and Remedies
	  	152
	 24.15
	  	 Further Acts and Assurances
	  	152
	 24.16
	  	 Expenses
	  	152
	 24.17
	  	 Press Releases
	  	152
	 24.18
	  	 Late Payments by Contractor
	  	152

					
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	 24.19
	  	 Construction of Agreement
	  	152
	 24.20
	  	 Business Days
	  	153
		
	 ARTICLE XXV. NOTICES
	  	153
	 25.1
	  	 Notice Procedures
	  	153
	 25.2
	  	 Notices To Owner
	  	153
	 25.3
	  	 Notices To Contractor
	  	154
	 25.4
	  	 Change of Address
	  	154
		
	 ARTICLE XXVI. REPRESENTATIONS AND WARRANTIES
	  	154
	 26.1
	  	 Contractor’s Representations and Warranties
	  	154
	 26.2
	  	 Owner’s Representations and Warranties
	  	157
		
	 ARTICLE XXVII. CONTRACTOR’S BUSINESS PRACTICES
	  	158
	 27.1
	  	 Business Practices
	  	158
		
	 ARTICLE XXVIII. GENERAL PROPRIETY
	  	160
	 28.1
	  	 Alcoholic Beverages and Drugs
	  	160
	 28.2
	  	 Arms and Ammunition
	  	160
	 28.3
	  	 Riotous and Disorderly Conduct
	  	160
	 28.4
	  	 Epidemics
	  	160

 AMENDED AND RESTATED DESIGN-BUILD AGREEMENT 
 FOR 
 GUARANTEED MAXIMUM PRICE 
 ARCHITECTURAL, ENGINEERING AND 
 CONSTRUCTION SERVICES 
  
 LUXURY RESORT CASINO
COMPLEX IN MACAU 
  
 This Amended and Restated Design-Build
Agreement for Guaranteed Maximum Price Architectural, Engineering and Construction Services (this “Agreement”), which amends and restates the Original Agreement (defined below), made as a Deed effective as of September 14, 2005
(the “Effective Date”), is entered into between WYNN RESORTS (MACAU) S.A., a company incorporated in the Macau Special Administrative Region having its registered office at 335-341, Alameda Dr. Carlos
d’Assumpção, 9th Floor, Hotline Center, Macau (“Owner”), and LEIGHTON
CONTRACTORS (ASIA) LIMITED, a private limited company incorporated in the Hong Kong Special Administrative Region, having its registered office at 39th Floor, Sun Hung Kai Centre, 30 Harbour Road, North Wanchai, Hong Kong (“Leighton”), CHINA STATE CONSTRUCTION ENGINEERING (HONG KONG) LIMITED, a private limited company incorporated in
the Hong Kong Special Administrative Region, having a registered office at 29th Floor, China Overseas Building, 139
Hennessy Road, Hong Kong (“China/HK”), and CHINA CONSTRUCTION ENGINEERING (MACAU) COMPANY LIMITED, a private limited company incorporated in the Macau Special Administrative Region, having a registered office at Rua do Campo, No 78,
Edificio Commercial Zhang Kian, 18 andar, Macau (“China/Macau”; Leighton, China/HK, and China/Macau being jointly and severally referred to as the “Contractor”). 
  
 RECITALS 
  
 A. Owner has been granted a concession to operate a casino and resort complex in Macau pursuant to a certain Concession
Contract for the Operation of Games of Chance or Other Games in Casinos in the Macau Special Administrative Region dated June 24, 2002, between the Macau Special Administrative Region (the “Macau SAR”) and Owner (the
“Gaming Concession Agreement”). 
  
 B. Owner has
been granted a leasehold interest in the real property described in Exhibit A hereto (the “Site”) pursuant to a certain Land Concession Contract dated June 4, 2004, between the Macau SAR and Owner (the “Land
Concession Agreement”). 
  
 C. Owner desires to construct
on the Site a “five-star”, first-class, Las Vegas-style luxury resort and casino, including high-rise hotel space and low rise space comprised of casino and gaming areas, restaurants, retail, spa, convention and meeting areas, together

  

 1 

 
with all exterior features, and all on-Site and off-Site improvements and infrastructure related thereto, all in accordance with the Contract Documents (as
defined below). 
  
 D. The Contractor has commenced the design and
construction of a high-rise hotel and low rise space comprised of casino and gaming areas and restaurants, retail, spa, convention and meeting areas, (as more fully described in this Agreement, the “Original Project”) in accordance
with the Original Agreement (as defined below). Owner desires to engage Contractor to design and construct a new front feature, a theatre, additional casino and gaming areas and additional retail and restaurant areas (as more fully described in this
Agreement, the “Expansion Project”; the Original Project and Expansion Project, together, the “Project”). 
  
 E. Owner and Contractor entered into that certain Design-Build Agreement for Guaranteed Maximum Price Architectural, Engineering and Construction Services
(the “Original Agreement”), made as a Deed effective as of May 10, 2004, pursuant to which the Contractor commenced construction of the Original Project on or about June 28, 2004. 
  
 F. In order to document the Expansion Project, Owner and Contractor desire to
amend and restate the Original Agreement to set forth the terms and conditions governing both the Original Project and the Expansion Contract. 
  
 G. Owner desires (i) to engage Contractor to design and construct the Expansion Project and (ii) for Contractor to continue its design and
construction of the Original Project, as more fully described in this Agreement, and Contractor desires to accept such engagement with respect to the Expansion Project and continue its engagement and construction with respect to the Original
Project, upon the terms and conditions contained in this Agreement. 
  
 AGREEMENT 
  
 In consideration of the mutual
covenants and agreements set forth below, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Contractor and Owner hereby adopt and incorporate the foregoing Recitals and agree as follows:

  
 ARTICLE I. 
 CERTAIN DEFINITIONS 
  
 As used in this Agreement, the following terms shall have the meanings respectively set forth in this Article 1: 
  
 “Actions” has the meaning given to it in
Section 14.1. 
  
 “Agreement” has the
meaning given to it in the introductory paragraph. 
  

 2 

 “Anticipated Cost Report” has the meaning given to it in Section 7.5.4.

  
 “Applications For Final Payment” has the
meaning given to it in Section 5.8. 
  
 “Architect/Engineer” for the Project means Wong & Ouyang (HK) Limited pursuant to the Architect/Engineer Agreement. 
  
 “Architect/Engineer Agreement” means that certain Designer Professional Services Agreement among Wynn Design and Development, LLC and
Wong & Ouyang (HK) Limited, dated as of February 28, 2003, which agreement was transferred to the Contractor pursuant to that certain Novation Agreement, dated June 3, 2005, among Wynn Design and Development, LLC, Wong &
Ouyang (HK) Limited and Contractor.  
  
 “As
Built” has the meaning given to it in Section 12.2.1.7. 
  
 “Auditable Subcontractors” has the meaning given to it in Section 19.1. 
  
 “Bases for Withholding” has the meaning given to it in Section 5.4. 
  
 “Casino Area 4” means that portion of the Expansion Project
Casino depicted on Attachment 4 of Exhibit B as “Area 4” on the ground floor, including all associated support and external features. 
  
 “Casino Area 5” means that portion of the Expansion Project Casino depicted on Attachment 4 of Exhibit B as “Area
5” on the ground floor, including all associated support and external features. 
  
 “Change” has the meaning given to it in Section 18.1. 
  
 “Change Order” has the meaning given to it in Section 18.2. 
  
 “Change Proposal” has the meaning given to it in Section 18.3.1. 
  
 “Change Proposal Request” has the meaning given to it in
Section 18.3. 
  
 “Claim” has the
meaning given to it in Section 20.1. 
  
 “Consequential Damages” has the meaning given to it in Section 14.7. 
  
 “Construction Change Directive” has the meaning given to it in Section 18.4.1. 
  
 “Contract” means the Contract Documents, collectively.

  

 3 

 “Contract Documents” means, collectively, the following documents which are hereby
incorporated herein by this reference: 
  

	 	a)	this Agreement; 

  

	 	b)	the description of the Site attached hereto as Exhibit A; 

  

	 	c)	Drawings; 

  

	 	d)	Specifications; 

  

	 	e)	the Original Project Schedule attached hereto as Exhibit B-1; 

  

	 	f)	the Expansion Project Schedule attached hereto as Exhibit B-4; 

  

	 	g)	the preliminary list of construction machinery and equipment to be rented or purchased by Contractor for use in the Work pursuant to Section 3.2.6 of this Agreement,
attached hereto as Exhibit D; 

  

	 	h)	the Original Project Schedule of Approved Values; 

  

	 	i)	Expansion Project Schedule of Values; 

  

	 	j)	the Original Project Guaranteed Maximum Price Premises and Assumptions attached hereto as Exhibit G; 

  

	 	k)	the Expansion Project Guaranteed Maximum Price Premises and Assumptions attached hereto as Exhibit G; 

  

	 	l)	all other exhibits to this Agreement, as set forth on the list of exhibits appearing at the end of this Agreement; and 

  

	 	m)	all supplements, addenda, modifications and amendments to any of the foregoing documents described in (a) through and including (i), from time to time approved by Owner (and
Contractor, to the extent required by the terms of this Agreement) in writing, including, but not limited to, any Change Orders and Construction Change Directives, and such other documents expressly referred to in the foregoing documents as being a
part of the Contract Documents. The Contract Documents do not include other documents such as bidding requirements (advertisement or invitation to bid, instructions to bidders, sample forms, and Contractor’s bid or portion of addenda relating
to bidding requirements). 

  
 “Contract
Time” has the meaning given to it in Section 4.1.5. 
  
 “Contractor” has the meaning given to it in the introductory paragraph. 
  
 “Contractor’s Certificate” has the meaning given to it in Section 5.2.5. 
  

 4 

 “Cost of the Work” has the meaning given to it in Section 3.2. 

 
 “day” has the meaning given to it in
Section 4.1.1. 
  
 “Defects Liability
Retainage” has the meaning given to it in Section 5.6.2. 
  
 “Design Documents” has the meaning given to it in Section 8.2.8. 
  
 “Design Information” has the meaning given to it in Section 8.2.1. 
  
 “Dispute” has the meaning given to it in
Section 22.1. 
  
 “Dispute Date” has
the meaning given to it in Section 22.1. 
  
 “Drawings” means the graphic and pictorial portions of the Contract Documents, in both digital and paper form, wherever located and whenever issued, which are approved for use during construction and show the design,
location and dimensions of the Work and Project including plans, elevations, sections, diagrams and other details. Owner and Contractor acknowledge that as of the Effective Date the Drawings with respect to the Expansion Project are not complete.
The Drawings include, but are not limited to, those listed on Exhibit E attached hereto and incorporated herein by this reference. 
  
 “Effective Date” has the meaning given to it in the preamble. 
  
 “Excepted Risks” has the meaning given to it in Section 5.10. 
  
 “Entry Feature” means the collective components of the
Feature as depicted on Attachment 3 of Exhibit E (including the dome, tree, lifts and other features described therein), and associated support and external features. 
  
 “Expansion Project” has the meaning given to it in preamble. 
  
 “Expansion Project Casino” means, collectively, those
portions of the Expansion Project comprising the casino and support facilities located in the lowrise podium, and associated support and external features. The footprint of the Expansion Project Casino on the Site is generally depicted on
Attachment 4 of Exhibit B. 
  
 “Expansion
Project Certificate of Final Completion” has the meaning given to it in Section 12.2.2.4. 
  
 “Expansion Project Certificate of Substantial Completion” has the meaning given to it in Section 12.1.2.7. 
  

 5 

 “Expansion Project Construction Contingency” has the meaning given to it in
Section 3.1.8.2. 
  
 “Expansion Project
Contractor’s Fee” has the meaning given to it in Section 3.1.3.2. 
  
 “Expansion Project Cost Control Incentive” has the meaning given to it in Section 3.2. 
  
 “Expansion Project Date of Commencement” means the “Expansion Project Date of Commencement” specified in Section 4.1.3
with respect to the Expansion Project Work. 
  
 “Expansion
Project Defects Liability Period” has the meaning given to it in Section 10.2. 
  
 “Expansion Project Final Completion” has the meaning given to it in Section 12.2.1. 
  
 “Expansion Project Final Payment” has the meaning given to
it in Section 5.8.2. 
  
 “Expansion Project
Guaranteed Maximum Price” has the meaning given to it in Section 3.1. 
  
 “Expansion Project Guaranteed Maximum Price Premises and Assumptions” means the contents of Exhibit G attached hereto, which describe Owner’s requirements for the Expansion Project.

  
 “Expansion Project Interim Milestone Dates”
has the meaning given to it in Section 4.1.4. 
  
 “Expansion Project Interim Milestones” has the meaning given to it in Section 4.1.4. 
  
 “Expansion Project Liquidated Damages” has the meaning given to it in Section 4.4.1. 
  
 “Expansion Project Owner Contingency” has the meaning given
to it in Section 3.1.7.2. 
  
 “Expansion
Project Punch List Items” has the meaning given to it in Section 12.1.2.5. 
  

 6 

 “Expansion Project Schedule” has the meaning given to it in Section 4.1.4.

  
 “Expansion Project Schedule of Values” has
the meaning given to it in Section 5.1.1. 
  
 “Expansion Project Substantial Completion” has the meaning given to it in Section 12.1.1. 
  
 “Expansion Project Work” means those portions of the Work to be executed by Contractor with respect to the Expansion Project. 

 
 “FCPA” has the meaning given to it in
Section 27.1.1. 
  
 “Fill Materials”
has the meaning given to it in Section 7.1.11.1. 
  
 “Force Majeure” has the meaning given to it in Section 11.4. 
  
 “Force Majeure Delay” has the meaning given to it in Section 11.4. 
  
 “Gaming Concession Agreement” has the meaning given to it in
the preamble. 
  
 “Guarantee” means the Amended
and Restated Parent Completion Guarantee in the form of Exhibit K attached hereto, whereby the Guarantors absolutely and unconditionally guarantee to Owner each and all of Contractor’s obligations and liabilities under this Agreement.

  
 “Guaranteed Date of Expansion Project Final
Completion” has the meaning given to it in Section 4.1.8. 
  
 “Guaranteed Date of Expansion Project Substantial Completion” has the meaning given to it in Section 4.1.9. 
  
 “Guaranteed Date of Original Project Final Completion” has the meaning given to it in
Section 4.1.6. 
  
 “Guaranteed Date of
Original Project Substantial Completion” has the meaning given to it in Section 4.1.7. 
  
 “Guaranteed Maximum Price” means, collectively, the Expansion Project Guaranteed Maximum Price and the Original Project Guaranteed
Maximum Price. 
  
 “Guarantor” and
“Guarantors” have the meaning given to them in Section 4.6.1. 
  
 “Hotel” means collectively those portions of the Project comprising the hotel guestrooms and suites as well as the sky casino, and ancillary facilities. The footprint of the Hotel on the Site is
generally depicted on Attachment 2 of Exhibit B. 
  

 7 

 “ICC” has the meaning given to it in Section 22.1. 
  
 “ICC Rules” has the meaning given to it in
Section 22.1. 
  
 “Independent Expert”
has the meaning given to it in Section 7.18.1.2. 
  
 “Land Concession Agreement” has the meaning given to it in the preamble. 
  
 “Laws” has the meaning given to it in Section 7.2. 
  
 “Lender Liens” has the meaning given to it in Section 24.2. 
  
 “Lender’s Notification” has the meaning given to it in
Section 21.2. 
  
 “Liquidated Damages”
has the meaning given to it in Section 4.4.1. 
  
 “Minor Changes” has the meaning given to it in Section 18.9. 
  
 “Modification” means any of the following: 
  

	 	(a)	a written amendment to the Contract identified as such and signed by both parties; 

  

	 	(b)	a Change Order; 

  

	 	(c)	a Construction Change Directive; or 

  

	 	(d)	a Minor Change. 

  
 “Non-Allowable Cost of the Work” has the meaning given to it in Section 3.3. 
  
 “Notice to Proceed” has the meaning given to it in
Section 4.1.2. 
  
 “Notices” has the
meaning given to it in Section 25.1. 
  
 “Official” has the meaning given to it in Section 27.1.3. 
  
 “On-Site Property” has the meaning given to it in Section 7.8. 
  
 “Original Agreement” has the meaning given to it in the preamble. 
  
 “Original Agreement Guaranteed Maximum Price” means Two
Hundred Fifty-Five Million Five Hundred Thousand United States Dollars (US$255,500,000). 
  
 “Original Project” has the meaning given to it in the preamble. 
  

 8 

 “Original Project Casino” means, collectively, those portions of the Original Project
comprising the casino and support facilities located in the lowrise podium, and associated support and external features. The footprint of the Casino on the Site is generally depicted on Attachment 2 of Exhibit B. 
  
 “Original Project Certificate of Final Completion” has the
meaning given to it in Section 12.2.2.4. 
  
 “Original Project Certificate of Substantial Completion” has the meaning given to it in Section 12.1.2.7. 
  
 “Original Project Construction Contingency” has the meaning given to it in Section 3.1.8.1. 
  
 “Original Project Contractor’s Fee” has the meaning
given to it in Section 3.1.2.2. 
  
 “Original
Project Cost Control Incentive” has the meaning given to it in Section 3.2. 
  
 “Original Project Date of Commencement” means June 28, 2004. 
  
 “Original Project Defects Liability Period” has the meaning given to it in Section 10.2.

  
 “Original Project Early Completion Component”
has the meaning given to it in Section 3.2. 
  
 “Original Project Final Completion” has the meaning given to it in Section 12.2.1. 
  
 “Original Project Final Payment” has the meaning given to it in Section 5.8.1. 
  
 “Original Project Guaranteed Maximum Price” has the meaning
given to it in Section 3.1. 
  
 “Original
Project Guaranteed Maximum Price Premises and Assumptions” means the contents of Exhibit G attached hereto, which describe Owner’s requirements for the Original Project. 
  
 “Original Project Interim Milestone Dates” has the meaning given to it in Section 4.1.4.

  
 “Original Project Interim Milestones” has the
meaning given to it in Section 4.1.4. 
  
 “Original Project Liquidated Damages” has the meaning given to it in Section 4.4.1. 
  

 9 

 “Original Project Owner Contingency” has the meaning given to it in
Section 3.1.7.1. 
  
 “Original Project Punch
List Items” has the meaning given to it in Section 12.1.2.5. 
  
 “Original Project Schedule” has the meaning given to it in Section 4.1.4. 
  
 “Original Project Approved Schedule of Values” means the Schedule of Values delivered by Contractor to Owner on July 27, 2004.

  
 “Original Project Substantial Completion” has
the meaning given to it in Section 12.1.1. 
  
 “Original Project Work” means those portions of the Work to be executed by Contractor with respect to the Original Project. 
  
 “Owner Delay” has the meaning given to it in Section 11.5. 
  
 “Owner Indemnitees” has the meaning given to it in Section 14.1. 
  
 “Owner Recovery Plan” has the meaning given to it in
Section 11.8.6. 
  
 “Owner’s
Consultants” means the Principal Interior Designer together with the additional interior design and other consultants retained by Owner to perform the Owner’s Design and other services as set out in the Guaranteed Maximum Price
Premises and Assumptions. 
  
 “Owner’s
Contractors” means the contractors, vendors and suppliers (other than Owner’s Consultants) retained by Owner in connection with the Project. The Contractor shall be responsible for managing and coordinating the activities of the
Owner’s Consultants and Owner’s Contractors with the Work. 
  
 “Owner’s Design” means those design services related to the Project prepared by Owner or the Owner’s Consultants, which shall, as may be required, be included in Contractor’s Work. 
  
 “Owner’s Lenders” has the meaning given to it in
Section 21.1. 
  
 “Owner’s Pre-Opening
Work” has the meaning given to it in Section 11.8.6. 
  
 “Owner’s Representative” has the meaning given to it in Section 6.3. 
  
 “Permissible Delay” means any Owner Delay, Force Majeure Delay, any other delay for circumstances specified in this Agreement as
providing for an extension of the 

  

 10 

 
Contract Time and/or an increase in the Guaranteed Maximum Price, and any other delay for causes which Owner and Contractor agree may justify delay.

  
 “Personnel” has the meaning given to it in
Section 3.2.1. 
  
 “Plant” has the
meaning given to it in Section 7.27.1. 
  
 “pre-existing hazardous materials” has the meaning given to it in Section 7.26.1. 
  
 “Principal Interior Designer” means Wynn Design and Development, LLC, which in turn shall be retaining additional interior design
consultants for the Project.  
  
 “Product
Data” has the meaning given to it in Section 7.13.2. 
  
 “Project” has the meaning given to it in the preamble. 
  
 “Recovery Plan” has the meaning given to it in Section 11.8. 
  
 “Recovery Plan Liabilities” has the meaning given to it in Section 4.2. 
  
 “Reimbursable Taxes” means all those Taxes described on
Exhibit N attached hereto as being reimbursable to Contractor as a Cost of the Work. 
  
 “Related Entities” has the meaning given to it in Section 27.1.1. 
  
 “Request” has the meaning given to it in Section 22.1. 
  
 “Retention” has the meaning given to it in Section 5.6.1. 
  
 “RFI” has the meaning given to it in
Section 7.3.3. 
  
 “Right to Audit”
has the meaning given to it in Section 19.5. 
  
 “Samples” has the meaning given to it in Section 7.13.3. 
  
 “Schedule Update” has the meaning given to it in Section 11.3. 
  
 “Schedule Update No. 1” has the meaning given to it in Section 11.3. 
  
 “Shop Drawings” has the meaning given to it in
Section 7.13.1. 
  
 “Site” has the
meaning given to it in the preamble. 
  
 “Specifications” means that portion of the Contract Documents, in both digital and paper form, wherever located and whenever issued, which are approved by Owner for use during construction and set forth the written
requirements for materials, equipment, 

  

 11 

 
construction systems, standards and workmanship for the Work. Owner and Contractor acknowledge that as of the Effective Date the Specifications are not
complete. The Specifications include, without limitation, those listed on Attachment 2 to Exhibit E attached hereto and incorporated herein by this reference. 
  
 “Subcontractor” means any person or entity (including employees, agents and representatives thereof) who
has a contract with or is engaged by Contractor, or with any other Subcontractor, at any tier to construct or perform a portion of the Work and/or provide construction related services for the Work at the Site, and includes any party any of them are
responsible or liable for at law or under the Contract Documents. 
  
 “Substitution” means the substitution of any materials or equipment specified in the Contract Documents, or any design change, initiated by the Contractor and approved by Owner in advance and in writing pursuant to
Section 7.10 of this Agreement after the Effective Date. 
  
 “Tax” or “Taxes” mean all taxes, charges, fees, duties, levies, penalties or other assessments imposed by any governmental authority, including income, gross receipts, excise, property, sales, gain, use,
license, custom duty, unemployment, capital stock, transfer, franchise, payroll, withholding, social security, minimum estimated, profit, gift, severance, value added, disability, premium, recapture, credit, occupation, service, leasing, employment,
stamp and other taxes. 
  
 “TCO” has the meaning
given to it in Section 12.1.2.2. 
  
 “Theatre” means collectively those portions of the Project comprising the theatre and its ancillary facilities. The footprint of the theatre on the Site is generally depicted on Attachment 4 of Exhibit B.

  
 “TPL” has the meaning given to it in
Section 15.1.6. 
  
 “Vendor” means
any person or entity (including employees, agents and representatives thereof) which has a purchase order or other agreement to provide materials, supplies, equipment and/or related services for the Work and/or provide installation services at the
Site for the Work, through a contract, purchase order or other arrangement with Contractor or any Subcontractor at any tier, and includes any party any of them are responsible or liable for at law or under the Contract Documents. 
  
 “Work” means the totality of the obligations imposed upon
Contractor by the Contract Documents with respect to each of the Original Project and the Expansion Project, including, but not limited to, (a) the design, supply and performance by Contractor, directly and through Architect/Engineer,
Subcontractors and Vendors, of all things (labor, services, materials, equipment, tools, machinery, fabrication, etc.) necessary and/or reasonably inferable from the Contract Documents (including those prepared by Owner) as being required or
necessary to fully complete the tasks and improvements described as 

  

 12 

 
Contractor’s Work with respect to each of the Original Project and the Expansion Project in the Contract Documents (b) the management of
Owner’s Consultants and the coordination of the Owner’s Design with the Architect/Engineer as may be required, and (c) the management of Owner’s Contractors, all in accordance with the requirements of the Original Project
Guaranteed Maximum Price Premises and Assumptions, the Expansion Project Guaranteed Maximum Price Premises and Assumptions and the other Contract Documents. The term “Work” includes the Original Project Work and the Expansion Project Work.
The term “Work” does not include the exclusions or Owner’s separate work as identified in Attachment 1 to Exhibit G. 
  
 ARTICLE II. 
 INTENT, INTERPRETATION
AND CORRELATION 
  
 2.1 Intent of the Contract
Documents. The intent of the Contract Documents is for the Contractor to perform, supply and complete, and Owner hereby engages Contractor to and Contractor hereby agrees to perform, supply and complete, the Work. Contractor’s obligation to
perform, supply, complete and commission the Work shall include, without limitation, providing all necessary architectural design (except for the Owner’s Design); engineering; scheduling, procurement, supervision, construction, and construction
management services; the management and coordination of Owner’s Consultants and Owner’s Contractors and Owner’s Vendors with the Work; and the supplying of all necessary labor, materials, equipment and related work and services,
including all things reasonably inferable from the Contract Documents as being necessary to fully complete the Work and obtain the intended results described in the Original Project Guaranteed Maximum Price Premises and Assumptions, and the
Expansion Project Guaranteed Maximum Price Premises and Assumptions, all in accordance with the requirements of the Contract Documents (including, but not limited to, the requirements of the Original Project Schedule, the Expansion Project Schedule,
the Original Project Guaranteed Maximum Price requirements set forth in Article 3 below and Expansion Project Guaranteed Maximum Price requirements set forth in Article 3 below). Contractor shall be solely responsible for the
preparation of the Drawings and Specifications (other than those to be prepared by Owner’s Consultants with respect to Owner’s Design); for the means, methods, techniques and sequences of construction; and for the finished construction
fully complying with the Project requirements established pursuant to the Contract Documents and with applicable Laws. Contractor recognizes that Owner is not retaining its own architect or engineer on the Project and Contractor acknowledges that it
is solely responsible for Project Site analysis and for the design (except for the Owner’s Design) and construction of the Work, including coordinating the Owner’s Design with the Architect/Engineer’s design, and that Owner is relying
upon Contractor for such services. Contractor accepts the relationship of trust and confidence thus imposed and shall efficiently design, administer, construct and supervise the Work in a professional manner, timely delivering the completed Original
Project and completed Expansion Project to Owner with all applicable mechanical, electrical, plumbing, fire safety and other building systems fully operational. The enumeration of particular items in the Specifications and/or Drawings and/or other
Contract Documents shall not be 

  

 13 

 
construed to exclude other items reasonably inferable from the Contract Documents or being necessary to fully complete the Work. The Contract Documents are
complementary, and what is required by or reasonably inferable from any one of the Contract Documents (including either a Drawing or Specification) as being necessary to produce the intended results shall be binding and required as a part of the
Work as if required by all Contract Documents. Notwithstanding that Exhibit F attached hereto sets forth Contractor’s estimated breakdown of the Original Project Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum
Price into line items and categories and that Contractor’s acceptance of the Original Project Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum Price may have been based on such estimates, Contractor agrees that the scope of
the Work to be performed by Contractor shall be determined by the Original Project Guaranteed Maximum Price Premises and Assumptions, the Expansion Project Guaranteed Maximum Price Premises and Assumptions and the other Contract Documents.
Contractor further agrees that in the event of any discrepancy between (a) the Original Project Guaranteed Maximum Price Premises and Assumptions, the Expansion Project Guaranteed Maximum Price Premises and Assumptions and the other Contract
Documents (other than Exhibit F) and (b) Exhibit F, the Original Project Guaranteed Maximum Price Premises and Assumptions, the Expansion Project Guaranteed Maximum Price Premises and Assumptions (as applicable) and the other
Contract Documents (other than Exhibit F) shall control, and no adjustment to the Original Project Guaranteed Maximum Price, the Expansion Project Guaranteed Maximum Price or the Contract Time shall be made as a result thereof. 
  
 2.2 Order of Precedence. Subject to the provisions of
Section 2.3 and the last two sentences of Section 2.1 hereof, in the event of any conflicts or inconsistencies which cannot be resolved by reading the Contract Documents as a whole, the provisions of the Contract Documents shall be
controlling in accordance with the following order of precedence: 
  
 2.2.1 this Agreement; 
  
 2.2.2 the Original Project Guaranteed Maximum Price Premises and Assumptions and the Expansion Project Guaranteed Maximum Price Premises and Assumptions (as applicable); 
  
 2.2.3 the Drawings; 
  
 2.2.4 Specifications; and 
  
 2.2.5 the other Contract Documents. 
  
 2.3 Contractor’s Compliance with Contract Documents. Contractor
hereby agrees and accepts that Contractor has a duty to refer all questions with respect to any doubts or concerns over the intent or appropriate interpretation of the Contract Documents to Owner for Owner’s decision. Contractor agrees, accepts
and assumes that Owner’s decision will require implementation of the most stringent requirements among any conflicting 

  

 14 

 
provisions of the Contract Documents as being part of the Work. Contractor agrees to be bound by all decisions by Owner to implement the most stringent of
any conflicting requirements within the Contract Documents. Any failure by Contractor to seek such clarifications shall in no way limit Owner’s ability to require such implementation, including replacement by Contractor of installed Work at a
later date (as a Cost of the Work, subject to the provisions of Section 3.3, and without increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable)), to achieve compliance with
the standard required pursuant to this Section 2.3. 
  
 2.3.1 The failure of Owner to insist in any one or more instances upon a strict compliance with any provision of this Contract, or to exercise any option herein conferred, shall not be construed as a waiver or
relinquishment of Owner’s right thereafter to require compliance with such provision of this Contract, or as being a waiver of Owner’s right thereafter to exercise such option, and such provision or option will remain in full force and
effect. 
  
 2.3.2 If there is any
inconsistency in the Drawings or any conflict between the Drawings and Specifications, Contractor shall provide the better quality or greater quantity of Work or materials, as applicable, unless Owner directs otherwise in writing. 
  
 2.3.3 Contractor shall be responsible for dividing
the Work among the appropriate qualified Subcontractors and Vendors. No claim will be entertained by Owner based upon the organization or arrangement of the Specifications and/or the Drawings into areas, sections, subsections or trade disciplines.

  
 2.3.4 Detail drawings shall take
precedence over scale drawings, and figured dimensions on the Drawings shall govern the setting out of the Work. 
  
 2.3.5 Unless the Specifications expressly state otherwise, references to documents and standards of professional organizations
shall mean the latest editions published prior to the Effective Date. 
  
 2.3.6 Technical words, abbreviations and acronyms in the Contract Documents not defined therein shall be used and interpreted in accordance with customary usage in the construction industry. 
  
 2.3.7 Whenever consent, permission or approval is
required from any party pursuant to the provisions of the Contract Documents, such consent, permission or approval shall, unless expressly provided otherwise in this Agreement, be given or obtained, as applicable, in writing and shall not be
unreasonably withheld or delayed. 
  
 2.4 Joint and Several
Liability. Leighton, China/HK and China/Macau shall be jointly and severally liable to Owner for the fulfillment by Contractor of the terms of this Agreement. All references to Contractor in the Contract Documents shall be deemed to include
references to Leighton, China/HK and China/Macau jointly and severally. Each of 

  

 15 

 
Leighton, China/HK and China/Macau shall be fully responsible for the proper performance of the obligations of Contractor under the Contract Documents.
Leighton, China/HK and China/Macau shall be liable to Owner and the Owner Indemnities on a joint and several basis for any and all acts or omissions of Contractor, whether under this Agreement or pursuant to the Contract Documents. The composition
of the joint venture formed by Leighton, China/HK and China/Macau, as well as the terms and conditions of the written joint venture agreement among such parties, shall be subject to Owner’s prior written consent and shall not be materially
altered without Owner’s prior written consent, which consent shall not be unreasonably withheld or delayed; and any direct or indirect transfers of interests in the joint venture by or among any of such parties shall be subject to Owner’s
prior written consent. Contractor’s Representative shall have the authority to bind the joint venture constituting Contractor and each of its members. The Contractor’s Representative is authorized to act on behalf of Contractor with regard
to the Work and the Contract Documents and his decisions will be binding upon Contractor. Owner may rely on, and Contractor shall be bound by, any notice or correspondence delivered by Contractor’s Representative in connection with the Contract
Documents. 
  
 ARTICLE III. 
 GUARANTEED MAXIMUM PRICE 
  
 3.1 Guaranteed Maximum Price. Subject to additions and deductions which may be made only in accordance with the Contract Documents, Contractor
represents, warrants and guarantees to Owner that the total maximum cost to be paid by Owner for Contractor’s complete performance under the Contract Documents, including, but not limited to, Original Project Final Completion and Expansion
Project Final Completion (as applicable) of all Work, all services of Contractor under the Contract, and all fees, compensation and reimbursements to Contractor, shall not exceed the total amount of: 
  
 (a) with respect to the Original Project, Three Hundred
Million Four Hundred Sixty-Four Thousand Six Hundred Fifty-Eight United States Dollars (US$300,464,658) (“Original Project Guaranteed Maximum Price”); and 
  
 (b) with respect to the Expansion Project, One Hundred Fifty-Six Million Seven Hundred Fifty-Nine Thousand
Three Hundred Twenty-Six United States Dollars (US$156,759,326) (“Expansion Project Guaranteed Maximum Price”). 
  
 Costs which would cause either the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as each may be adjusted pursuant to the
Contract Documents) to be exceeded shall be paid by the Contractor without reimbursement by Owner. Contractor acknowledges that each of the Original Project Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum Price is stated and is
payable in United States dollars, and that no adjustment will be made thereto on account of change in any exchange rate relevant to the performance of the Work, including, but not 

  

 16 

 
limited to, any changes in exchange rates of the United States dollar, Hong Kong dollar, Macau pataca and People’s Republic of China renminbi. Each of
the Original Project Guaranteed Maximum Price and Expansion Project Guaranteed Maximum Price is inclusive of all Taxes assessed in any jurisdiction for the performance by Contractor (including Subcontractors and Vendors at any tier) of its
obligations under the Contract Documents. Further, Contractor shall be deemed to have satisfied itself before entering into this Agreement as to (a) all of the conditions and circumstances which may affect each of the Original Project
Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum Price, including the nature and character of the Work to be executed, the prevailing geotechnical, environmental and ambient conditions, local uses, the existing installations (if
any), the general circumstances at the Site, the general labor position at the Site and in the region generally and the coordination and interrelation of the execution of the Original Project Work and the Expansion Project Work; and (b) the
correctness and sufficiency of the each of the Original Project Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum Price to cover all of its obligations under the Contract Documents. Contractor shall be responsible for obtaining
all information necessary for the Work and shall be deemed to have included and accounted for in each of the Original Project Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum Price all risks, contingencies, Taxes, local and
national conditions, laws, customs, policies and practices and other conditions affecting the Work, the Project or the performance thereof, in each case whether known or unknown, or foreseeable or unforeseeable (subject to the provisions of this
Agreement relating to Permissible Delay and Excepted Risks). Contractor shall be responsible for all errors made and for any misunderstanding or incorrect information provided by any person or entity or relied upon by Contractor, except to the
extent otherwise provided for in the Contract Documents. Notwithstanding the preceding sentence, Contractor shall not be responsible for errors made or for any incorrect information provided by any of Owner’s Consultants or Owner’s
Contractors, except to the extent that Contractor has failed in its duty of coordination, supervision and management with respect to Owner’s Consultants and Owner’s Contractors, as set forth in this Agreement. 
  
 3.1.2 Original Project Guaranteed Maximum Price
Components. The Original Project Guaranteed Maximum Price is comprised of the maximum amount payable by Owner for: 
  
 3.1.2.1 the Cost of the Work listed in Section 3.2 hereof for full and complete performance of the Work in strict
accordance with Contract Documents, and 
  
 3.1.2.2 a fixed fee to Contractor in the amount of Twenty Million Five Hundred Forty-One Thousand Nine-Hundred Sixty-Seven United States Dollars (US$20,541,967) (“Original Project Contractor’s Fee”). 

 
 The Original Project Contractor’s Fee shall be the Contractor’s sole and
exclusive compensation for all costs described as Non-Allowable Costs of the Work in Section 3.3  

  

 17 

 
hereof and is inclusive of all overhead and profit arising out of or relating to the Contractor’s Work. The Original Project Guaranteed Maximum Price is
further broken down into line items and categories on Exhibit F attached hereto. 
  
 3.1.3 Expansion Project Guaranteed Maximum Price Components. The Expansion Project Guaranteed Maximum Price is comprised of the
maximum amount payable by Owner for: 
  
 3.1.3.1 the Cost of the Work listed in Section 3.2 hereof for full and complete performance of the Work in strict accordance with Contract Documents, and 
  
 3.1.3.2 a fixed fee to Contractor in the amount of Eleven Million Five Hundred Eighteen Thousand
Three Hundred Fifty-Eight United States Dollars (US$11,518,358) (“Expansion Project Contractor’s Fee”). 
  
 The Expansion Project Contractor’s Fee shall be the Contractor’s sole and exclusive compensation for all costs described as Non-Allowable Costs of the Work in
Section 3.3 hereof and is inclusive of all overhead and profit arising out of or relating to the Contractor’s Work. The Expansion Project Guaranteed Maximum Price is further broken down into line items and categories on
Exhibit F attached hereto. 
  
 3.1.4 Cost Overruns. Subject to any adjustment to each of the Original Project Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum Price (as applicable) which may be made in accordance with the Contract Documents,
Contractor shall be solely liable and responsible for and shall pay any and all costs, fees and other expenditures in excess of the Original Project Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum Price (as applicable) for
and/or relating to the Original Project Work and Expansion Project Work (as applicable), without entitlement to reimbursement from Owner. 
  
 3.1.5 Proof of Funds. The Contractor shall, within five (5) days of receipt of any request by Owner or Owner’s Lenders
therefor, provide Owner and Owner’s Lenders with evidence satisfactory to Owner’s Lenders that (i) based on the progress of the Work and Cost of the Work already incurred, the remaining Work can be completed for the Original Project
Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum Price, or (ii) sufficient funds are available to Contractor (directly, or through any of the Guarantors) to pay any anticipated overage. 
  
 3.1.6 Inferable Work. Contractor agrees that the
scope of each of the Original Project Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum Price includes Work not expressly indicated on the Contract Documents, but which is reasonably inferable from the Contract Documents, or
consistent therewith, and such Work shall be performed by Contractor without any increase in the Original Project Guaranteed Maximum Price or the Expansion Project Guaranteed Maximum Price (as applicable). The intent of the Contract Documents is
described in Section 2.1 and shall 

  

 18 

 
include all additional items reasonably inferable from the Contract Documents as being necessary to conform with this Contract and applicable Laws.
Contractor acknowledges that it bears responsibility for consequences resulting from its design and construction processes and acknowledges its responsibility to manage and coordinate all of the design and construction processes for the Project so
that the requirements of the Contract are achieved. 
  
 3.1.7 Owner Contingency. 
  
 3.1.7.1 The Original Project Guaranteed Maximum Price includes an Owner contingency in the amount of Three Million Twelve Thousand Eight Hundred Twenty-One United States Dollars (US$3,012,821) (“Original Project Owner
Contingency”). 
  
 3.1.7.2 The
Expansion Project Guaranteed Maximum Price includes an Owner contingency in the amount of Two Million Five Hundred Thousand United States Dollars (US$2,500,000) (“Expansion Project Owner Contingency”). 
  
 To allocate a portion of the Original Project Owner Contingency or the Expansion Project
Owner Contingency (as applicable) to a portion of the Original Project Work or Expansion Project Work, respectively, for any purpose, Owner shall submit a Construction Change Directive to Contractor with respect to such allocation. Contractor and
Owner will then follow the procedure described in Article 18 of this Agreement. Each allocation of either the Original Project Owner Contingency or the Expansion Project Owner Contingency shall be reflected on the respective Application
for Progress Payment for the period during which Owner makes such approved allocation. Any portion of either of the Original Project Owner Contingency or the Expansion Project Owner Contingency remaining unallocated at Original Project Final
Completion and Expansion Project Final Completion, respectively, shall revert to the Owner as provided for in Section 3.2. Contractor shall have the right to propose to Owner at any time an allocation of either of the Original Project
Owner Contingency or the Expansion Project Owner Contingency (as applicable), setting forth in reasonable detail why Contractor considers such an allocation to be appropriate, but Owner may in its sole discretion agree or disagree to such use or
allocation of the Original Project Owner Contingency or the Expansion Project Owner Contingency (as applicable),. 
  
 3.1.8 Construction Contingency. 
  
 3.1.8.1 The Original Project Guaranteed Maximum Price includes a construction contingency in the amount of Thirteen Million Three
Hundred Fifty-Two Thousand Eight Hundred Twenty-Two United States Dollars (US$13,352,822) (“Original Project Construction Contingency”). 
  
 3.1.8.2 The Expansion Project Guaranteed Maximum Price includes a construction contingency in the amount of Twelve Million Seven
Hundred Forty-Five Thousand Five Hundred Forty-Six United States Dollars (US$12,745,546) (“Expansion Project Construction Contingency”). 
  

 19 

 Subject to the terms of the Contract Documents, Contractor shall be entitled to allocate from and apply against the
Original Project Construction Contingency or the Expansion Project Construction Contingency (as applicable) Costs of the Work for the following, and no other, purposes relating to the Original Project Work or Expansion Project Work (as applicable):
(a) implementation of any Recovery Plan, (b) cost overruns, (c) Minor Changes in the Original Work or Expansion Project Work (as applicable), (d) warranty costs prior to Original Project Final Completion and Expansion Project
Final Completion (as applicable), (e) those circumstances where the actual cost of an item exceeds the amount allocated to such item in the Original Project Guaranteed Maximum Price or the Expansion Project Guaranteed Maximum Price (as
applicable) (pursuant to Section 3.1.9.2 or 3.1.9.3 of this Agreement), (f) the costs described in Sections 3.2.13.7, 3.2.13.10, 3.3.6, 3.3.9, 3.3.13, 3.3.15, 3.3.17 or
7.17, (g) any other purpose expressly authorized in this Agreement, and (h) concealed conditions; provided, however, that Contractor may not apply, use or allocate from the Original Project Construction Contingency or the Expansion
Project Construction Contingency any amounts for any of the foregoing purposes that are the result of, relate to or arise from any gross negligence, willful misconduct, fraud, material breach or material failure to perform by, Contractor, any
Subcontractor or Vendor (except as necessary to replace any Subcontractor or Vendor because of the bankruptcy or failure to perform of such Subcontractor or Vendor), or any party for which any of them are liable or responsible at law or under the
Contract Documents, or for any Non-Allowable Costs of the Work except as provided above. Each use of the Original Project Construction Contingency or the Expansion Project Construction Contingency (as applicable) by Contractor shall be
reflected (with a narrative explanation) on the respective Application for Progress Payment for the period during which Contractor makes such use and application. Any portion of the Original Project Construction Contingency or the Expansion Project
Construction Contingency remaining unused at Original Project Final Completion and Expansion Project Final Completion, respectively, shall be allocated as provided in Section 3.2. 
  
 3.1.9 Subcontractor Bids. As Drawings and
Specifications are deemed sufficient to call for tenders for a particular portion of the Work, Contractor shall propose and obtain bona fide bids from a minimum of three Subcontractors and/or Vendors for such portion of the Work and, in accordance
with Section 9.2 hereof, make a recommendation to Owner in writing as to which bid Owner should select. 
  
 3.1.9.1 If the amount of the bid selected by Owner exceeds the amount budgeted in the Original Project Guaranteed Maximum Price or
the Expansion Project Guaranteed Maximum Price (as applicable) for that item or portion of the Work and the increase in cost is due to the failure of the Drawings and Specifications to substantially conform to the Original Project Guaranteed Maximum
Price Premises and Assumptions or the Expansion Project Guaranteed Maximum Price Premises and Assumptions (as applicable), then to the extent that the applicable Drawings and Specifications were not prepared by any of Owner’s Consultants, there
shall be no adjustment to the Original Project Guaranteed Maximum Price or the Expansion Project Guaranteed Maximum Price (as applicable) and, at Owner’s option, (a) Contractor shall cause Architect/Engineer to rework 

  

 20 

 
the Drawings and Specifications to cause the Work depicted therein to conform to the Original Project Guaranteed Maximum Price Premises and Assumptions or
the Expansion Project Guaranteed Maximum Price Premises and Assumptions (as applicable); or (b) Contractor shall allocate a portion of the Original Project Construction Contingency or the Expansion Project Construction Contingency (as
applicable) to such increased cost pursuant to Section 3.1.8; or (c) Owner may require Contractor to cause some revisions to be made to such Drawings and Specifications to bring down the cost while allocating a portion of the
Original Project Construction Contingency or the Expansion Project Construction Contingency (as applicable) to any remaining increased cost. 
  
 3.1.9.2 If the amount of the bid selected by Owner exceeds the amount budgeted in the Original Project Guaranteed Maximum Price or
the Expansion Project Guaranteed Maximum Price (as applicable) for that item or portion of the Work and the increase in cost is due to the failure of the Drawings and Specifications to substantially conform to the Original Project Guaranteed Maximum
Price Premises and Assumptions or the Expansion Project Guaranteed Maximum Price Premises and Assumptions (as applicable), then to the extent any of the applicable Drawings and Specifications were prepared by any of Owner’s Consultants, Owner
shall, at its option, (a) increase the Original Project Guaranteed Maximum Price or the Expansion Project Guaranteed Maximum Price (as applicable) by the amount of such increase in cost; or (b) cause such Owner’s Consultant(s) to
rework such Drawings and Specifications to cause the Work depicted therein to conform to the Original Project Guaranteed Maximum Price Premises and Assumptions or the Expansion Project Guaranteed Maximum Price Premises and Assumptions (as
applicable); or (c) allocate a portion of the Original Project Owner Contingency or the Expansion Owner Contingency (as applicable) to such increased cost pursuant to Section 3.1.7; or (d) do any combination of the foregoing as
necessary to cover such increase in cost. 
  
 3.1.9.3 If the amount of the bid recommended by Contractor and accepted by Owner exceeds the amount allocated or budgeted in the Original Project Guaranteed Maximum Price or the Expansion Project Guaranteed Maximum Price (as
applicable) for that item or portion of the Work, and the Drawings and Specifications substantially conform to the Original Project Guaranteed Maximum Price Premises and Assumptions or the Expansion Project Guaranteed Maximum Price Premises and
Assumptions (as applicable), then Contractor shall perform such Work and such increase in costs shall be solely Contractor’s responsibility, except that Contractor shall be entitled to use a portion of the Original Project Construction
Contingency or the Expansion Project Construction Contingency (as applicable) to cover such cost increase to the extent permitted under Section 3.1.8 hereof (provided, however, if no funds remain in the Original Project Construction
Contingency or the Expansion Project Construction Contingency (as applicable), Contractor shall still be responsible for the increased cost of the Work), and Contractor shall not be entitled to, and will not seek, any increase in the Original
Project Guaranteed Maximum Price or the Expansion Project Guaranteed Maximum Price (as applicable) with regard thereto. 
  

 21 

 3.1.9.4 Notwithstanding the provisions of Sections 3.1.9.1 through
3.1.9.3 above, if Contractor failed to comply with its obligations under Section 7.3 of this Agreement and, as a result, the amount of the bid selected by Owner exceeds the amount allocated or budgeted in the Original Project
Guaranteed Maximum Price or the Expansion Project Guaranteed Maximum Price (as applicable) for that item or portion of the Work, Contractor shall perform such Work and such increase in costs shall be solely Contractor’s responsibility, except
that Contractor may use a portion of the Original Project Construction Contingency or the Expansion Project Construction Contingency (as applicable) to cover such increased costs to the extent permitted under Section 3.1.8 hereof
(provided, however, if no funds remain in the Original Project Construction Contingency or the Expansion Project Construction Contingency (as applicable), Contractor shall still be responsible for the increased costs of such Work), and Contractor
shall not be entitled to, and will not seek, any increase in the Original Project Guaranteed Maximum Price or the Expansion Project Guaranteed Maximum Price (as applicable) with regard thereto. 
  
 3.1.9.5 If the amount of the bid selected by Owner
plus the additional and customary cost to complete the bid Work (if such additional and customary amount is so required as mutually determined between Owner and Contractor) is less than the amount budgeted in the Original Project Guaranteed Maximum
Price or the Expansion Project Guaranteed Maximum Price (as applicable) for that item or portion of the Work, then the savings shall remain within the Original Project Guaranteed Maximum Price or the Expansion Project Guaranteed Maximum Price (as
applicable) and be made available to pay for the Cost of the Work, but shall not be allocated to the Original Project Construction Contingency or the Expansion Project Construction Contingency (as applicable) until Original Project Substantial
Completion or the Expansion Project Substantial Completion (as applicable) of the applicable portion of the Work. 
  
 3.1.9.6 Notwithstanding the foregoing provisions of this Section 3.1.9, if Owner elects in accordance with the terms of
this Agreement to have a party other than the Contractor perform a portion of the Work, or otherwise eliminates or reduces the scope of a portion of the Work to be performed by the Contractor, the Original Project Guaranteed Maximum Price or the
Expansion Project Guaranteed Maximum Price (as applicable)e shall be reduced in accordance with Article 18. 
  
 3.2 Cost of the Work. “Cost of the Work” means those elements of costs described in this Section 3.2 up to the
Original Project Guaranteed Maximum Price or the Expansion Project Guaranteed Maximum Price (as applicable) (subject to change only as provided in this Agreement) which are chargeable to Owner and payable to Contractor when reasonably, actually and
necessarily incurred by the Contractor during or in connection with performance of the Work, without mark-up or add on of any kind by or at the request of Contractor. Such costs shall be actual costs paid or to be paid by Contractor during the
applicable billing period and agreed upon by Owner, less all discounts, rebates and salvages taken by Contractor. All amounts paid or payable as Costs of the Work shall be subject to verification by audit pursuant to Article 19 of this
Agreement. Contractor covenants and 

  

 22 

 
agrees to use reasonable efforts to achieve the lowest price or cost available and consistent with the Contract Documents, for all Cost of the Work items.
Upon Original Project Substantial Completion or the Expansion Project Substantial Completion (as applicable) of the Original Project Work and the Expansion Project Work (as applicable), all savings on any and all components of the Cost of the Work,
including, but not limited to, all savings on labor costs and other general conditions costs, as well as any savings resulting from early delivery of the completed Project, shall be allocated to and included within the Original Project Construction
Contingency or the Expansion Project Construction Contingency (as applicable). Upon Original Project Final Payment, any unused amounts in the Original Project Owner’s Contingency and sixty percent (60%) of any unused amounts in the
Original Project Construction Contingency shall revert to the Owner, and forty percent (40%) of any unused amounts in the Original Project Construction Contingency shall be paid to Contractor as a “Original Project Cost Control
Incentive” at the time of payment by the Owner of the Original Project Final Payment; provided, however, that if (a) Original Project Substantial Completion is achieved at least fifteen (15) calendar days prior to the Guaranteed Date
of Original Project Substantial Completion, and (b) Contractor provides Owner with a written notice accurately confirming to Owner the date of Original Project Substantial Completion of the Original Project Work not less than one hundred
fifty-two (152) calendar days prior to such date, then upon Original Project Final Payment a portion of the One Million Two Hundred Eighty-Two Thousand Fifty-One United States Dollars (US$1,282,051) component of the Original Project
Construction Contingency representing the cost of anticipated project preliminaries associated with the twenty-sixth month of the Work (such US$1,282,051 component, the “Original Project Early Completion Component”) shall be paid to
Contractor as part of the “Original Project Cost Control Incentive”, which portion shall be calculated as follows: (i) if Original Project Substantial Completion of the entire Original Project Work is achieved between fifteen
(15) and thirty (30) calendar days prior to the Guaranteed Date of Original Project Substantial Completion, then a percentage of the Original Project Early Completion Component shall be so paid to Contractor equal to (A) the number of
calendar days by which Original Project Substantial Completion of the entire Original Project Work is achieved prior to the Guaranteed Date of Original Project Substantial Completion, divided by (B) thirty (30) for example, if Original
Project Substantial Completion of the entire Original Project Work is achieved twenty-four (24) calendar days prior to the Guaranteed Date of Original Project Substantial Completion, then Contractor would be paid eighty percent (80%) (24 /
30 = 80%) of the Original Project Early Completion Component; and (ii) if Original Project Substantial Completion of the entire Work is achieved more than thirty (30) calendar days prior to the Guaranteed Date of Original Project
Substantial Completion, then one hundred percent (100%) of the Original Project Early Completion Component shall be so paid to Contractor. In no event shall the total payment to Contractor of any unused amounts in the Original Project
Construction Contingency, excluding any payment to Contractor of any portion of the Original Project Early Completion Component, exceed the sum of Four Million United States Dollars (US$4,000,000). Upon Expansion Project Final Payment, any unused
amounts in the Expansion Project Owner’s Contingency and sixty percent (60%) of any unused amounts in the Expansion Project Construction Contingency shall revert to the Owner, and forty percent 

  

 23 

 
(40%) of any unused amounts in the Expansion Project Construction Contingency shall be paid to Contractor as an “Expansion Project Cost Control
Incentive” at the time of payment by the Owner of the Expansion Project Final Payment. In no event shall the total payment to Contractor of any unused amounts in the Expansion Project Construction Contingency exceed the sum of Two Million Two
Hundred Fifty Thousand United States Dollars (US$2,250,000). Costs of the Work shall be strictly limited to and include only the following items, unless otherwise agreed by the Owner in writing: 
  
 3.2.1 Contractor’s Salaried Employees. Direct
cost of amounts actually paid by Contractor for the salaries paid to Contractor’s employees (excluding craft labor) while and only to the extent they are performing Work at the Site, except to the extent approved otherwise by Owner, and except
for those off-Site personnel listed in Exhibit C attached hereto (all such on-Site and off-Site personnel collectively being “Personnel”). Such direct costs include Contractor’s actual costs of statutory payroll taxes
and payroll burden and customary employee benefits (including vacation) to the extent stated in this Section 3.2.1, pro-rated for the time they are performing Work. Such employee benefits shall include the Chinese New Year bonus, if
applicable, and any reasonable and customary costs considered a normal part of the employee’s salary and not a bonus (other than the Chinese New Year bonus). Contractor shall submit to Owner all documentation necessary to support the referenced
rate and benefits. Costs for Contractor’s staff shall exclude any elements of overhead or profit. Any changes to the Personnel listed in Exhibit C during the course of the Work must be approved in advance and in writing by Owner,
which approval shall not be unreasonably withheld or delayed. The Contractor shall submit a rate schedule for each of its Personnel for Owner’s audit and approval, including any increases other than increases solely for annual standard cost of
living adjustments and merit raises in Contractor’s normal and customary practice, but not to exceed three percent (3%) of an employee’s direct annual salary (excluding benefits) per year, unless approved otherwise by Owner. Costs
included in such proposed rates shall, however, be strictly limited to actual payroll costs including actual labor burden, and excluding any element for overhead or profit. Items covered by or included within the labor burden shall not be separately
or otherwise included in Costs of the Work or billed to Owner. 
  
 3.2.2 Contractor’s Site Craft Labor. Direct cost of amounts actually paid for Contractor’s craft labor, including actual labor burden and any Chinese New Year bonus paid to such workers. Contractor
shall submit daily rates for regular time and hourly rates for premium time hours for Owner’s review and approval, which approval shall not be unreasonably withheld or delayed. In no event shall such rates exceed the lesser of (a) those
daily or hourly rates, as applicable, specified in collective bargaining agreements applicable to such labor, including stated increases, or (b) the amount actually paid by Contractor for such craft labor, unless approved in writing in advance
by Owner. 
  
 3.2.3 Subcontractor and Vendor
Costs. Direct cost of amounts actually paid or payable during the applicable billing period by Contractor to its Subcontractors and Vendors for Work performed pursuant to subcontracts and purchase orders (including any 

  

 24 

 
change orders or other modifications thereto) which have been reviewed and approved in advance and in writing by Owner (except to the extent Owner’s
prior written consent is not required pursuant to Section 9.3 of this Agreement). 
  
 3.2.4 Materials and Equipment Incorporated in the Work. Direct cost of amounts actually paid or to be paid during the applicable
billing period by Contractor and approved by Owner for all materials and equipment incorporated or to be incorporated into the Work by Contractor, including the actual direct costs of transportation, insurance and temporary storage (including any
materials stored off-Site so long as the requirements of Section 5.13 of this Agreement are fulfilled to Owner’s satisfaction). Contractor shall promptly disclose to Owner all relevant details regarding any such materials, equipment
and other items if any of the foregoing is being provided for purchase by Contractor or any company which is a subsidiary or otherwise affiliated with Contractor or its parent company. Said costs shall be invoiced at actual prices, net of any
available trade and quantity discounts. Contractor shall use reasonable efforts to achieve the lowest cost or price available and consistent with the Contract Documents. Any salvage value received by Contractor for any excess items, materials or
equipment paid for by Owner, to be determined prior to the Original Project Final Payment or the Expansion Project Final Payment (as applicable) upon Original Project Final Completion or Expansion Project Final Completion (as applicable), shall
reduce the Cost of the Work and be a credit to Owner. 
  
 3.2.5 Materials and Equipment Consumed at the Site. Direct cost of amounts actually paid or to be paid during the applicable billing period by Contractor for all materials, equipment, supplies and small tools which are provided by
Contractor, its Subcontractors or Vendors at the Site and fully consumed at the Site during performance of the Work, including, but not limited to, the actual direct costs of transportation and related insurance costs and temporary storage on-Site
or pursuant to Section 5.13 hereof. Contractor shall promptly disclose to Owner all relevant details regarding any such materials, equipment and other items if any of the foregoing is being provided for purchase by Contractor or any
company which is a subsidiary or otherwise affiliated with Contractor or its parent company. Said costs shall be at lowest rates reasonably available and consistent with the Contract Documents and shall be invoiced at actual prices, net of any
available trade and quantity discounts. Contractor shall use reasonable efforts to achieve the lowest cost or price available and consistent with the Contract Documents. Any salvage value received by the Contractor for any excess items paid for by
Owner, to be determined prior to the Original Project Final Payment or the Expansion Project Final Payment (as applicable) upon Original Project Final Completion or Expansion Project Final Completion (as applicable), shall reduce the Cost of the
Work and be a credit to Owner. 
  
 3.2.6
Rental Equipment. Direct cost of amounts actually paid or to be paid during the applicable billing period by Contractor for rental charges for all necessary construction machinery and equipment utilized at the Site (exclusive of small tools),
including, but not limited to, the direct costs of transportation, delivery, installation, dismantling, removal, maintenance, and insurance. Contractor shall use reasonable efforts 

  

 25 

 
to achieve the lowest cost or price available and which is consistent with the Contract Documents. Contractor shall promptly disclose to Owner all relevant
details regarding any such construction machinery or equipment that is being provided, either for purchase or rental, by Contractor or any company which is a subsidiary or otherwise affiliated with Contractor or its parent company. The rental rates
for any machinery and equipment owned by Contractor or an affiliated entity shall be agreed upon by Owner and Contractor in advance; provided that the aggregate amount of rental costs charged for any individual piece of Contractor or affiliate-owned
machinery or equipment shall not exceed 75% of its actual acquisition cost. The preliminary list of machinery and equipment to be rented or purchased by the Contractor for use in the Work is set out on Exhibit D attached hereto. 

 
 3.2.7 Site Office Costs. Direct cost of amounts
actually paid or to be paid during the applicable billing period by Contractor for Site office facilities and Site office general expenses, telephone services, long distance telephone calls, photocopying, postage, reasonable and customary petty cash
expenses not to exceed US$250 monthly, facsimile transmissions, office supplies, standard printing required by the Contract Documents, express and air courier mail delivery services, Site office equipment such as computers, telephones, copiers,
facsimile machines, typewriters and similar items used in connection with the Work. Contractor shall use reasonable efforts to achieve the lowest cost or price available and consistent with the Contract Documents, provided, however, such costs shall
be expressly limited to such of the foregoing items as are not otherwise made available or provided by Owner to Contractor at the Site to the Contractor’s reasonable satisfaction. Contractor shall promptly advise Owner of any such Site office
equipment which is charged to the Work and provide Owner with all purchase and rental agreements pertaining thereto for Owner’s approval. Contractor shall promptly disclose to Owner all relevant details if any such Site office equipment is
being provided, either for purchase or rental, by Contractor or any company which is a subsidiary or otherwise affiliated with the Contractor or its parent company. Any salvage value received by Contractor for any excess items paid for by Owner, to
be determined prior to the Original Project Final Payment or the Expansion Project Final Payment (as applicable) upon Original Project Final Completion or Expansion Project Final Completion (as applicable), shall reduce the Cost of the Work and be a
credit to Owner. 
  
 3.2.8 Reimbursable
Taxes. Direct cost of amounts properly and actually paid by Contractor for Reimbursable Taxes arising from or payable in connection with the execution of the Work. 
  
 3.2.9 Bond Premiums. Direct cost of amounts actually paid or to be paid during the applicable billing
period by Contractor for premiums solely attributable to the Work for Contractor’s On-Demand Bonds to the extent required by Owner, and direct cost of amounts paid or to be paid during the applicable billing period for Subcontractor bond
premiums. 
  

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 3.2.10 Course of Constructions Repairs. Actual and reasonable costs incurred and
paid by Contractor in repairing minor damage to trade Work caused as a normal by-product during the course of construction and not otherwise a Non-Allowable Cost of the Work. 
  
 3.2.11 Royalties. Royalties and license fees necessarily and reasonably paid or to be paid during the
applicable billing period by Contractor for an express design, process or product required by the Contract Documents in accordance with Section 7.20 hereof. 
  
 3.2.12 Cost of Hedging Exchange Rate. Reasonable costs incurred and paid by Contractor in connection
with hedging the exchange rate risk under this Contract, provided that such costs shall not exceed, in the aggregate, Fifty Thousand United States Dollars (US$50,000). 
  
 3.2.13 Miscellaneous Costs. Miscellaneous costs are chargeable as a Cost of the Work only as follows:

  
 3.2.13.1 Direct costs actually
incurred or paid by Contractor for clean-up and removal of debris; 
  
 3.2.13.2 Direct costs actually incurred or paid to respond to an emergency affecting the safety of persons and property, and not otherwise a Non-Allowable Cost of the Work; 
  
 3.2.13.3 Direct costs actually incurred or paid by
Contractor and approved by Owner for Site security services for protection of the Work; 
  
 3.2.13.4 Direct costs actually incurred or paid by Contractor for blueprinting of Drawings as required by the Contract Documents
and required postage, express mail and long distance costs in the performance of the Work; 
  
 3.2.13.5 Direct costs actually incurred or paid for building permit fees, including plan check fees, licenses and other
authorizations which are required by governmental authorities to be taken out in Owner’s or Contractor’s name for construction and completion of the Work, including, but not limited to, temporary and final certificates of occupancy, and
licenses (such as the kitchen license) required by governmental authorities strictly for the operation of the completed Project; 
  
 3.2.13.6 Direct costs actually and reasonably incurred and paid or to be paid during the applicable billing period by
Contractor’s Personnel and required for travel or while traveling in the performance of the Work, all in accordance with travel policies agreed upon in advance by Owner and Contractor; 
  

 27 

 3.2.13.7 Losses and expenses from property damage not compensated by insurance and
incurred by Contractor directly relating to the performance of the Work and not relating to or arising from the failure of Contractor to comply with the Contract Documents or otherwise a Non-Allowable Cost of the Work; 
  
 3.2.13.8 The costs of insurance required to be
carried by Contractor and Subcontractors relating to the Work pursuant to Section 15.1.1 hereof; 
  
 3.2.13.9 Direct costs actually incurred or paid by the Contractor for the purpose of correcting minor defects in the Work, subject
to the provisions of Section 3.3.6, prior to or during the Original Project Defects Liability Period or the Expansion Project Defects Liability Period (as applicable) and not otherwise a Non-Allowable Cost of the Work and provided that
any such costs shall only be payable to Contractor from amounts available in the Original Project Construction Contingency or the Expansion Project Construction Contingency (as applicable), if any; 
  
 3.2.13.10 The cost of an insurance policy obtained by
Contractor in its name (but naming Owner as an additional insured) relating to the Project and providing coverage for the difference between Contractor’s normal and customary insurance coverage and the insurance required to be maintained by
Owner pursuant to Section 15.1 of this Agreement; provided, however, that any portion of the cost of such policy in excess of Two Hundred Thousand United States Dollars (US$200,000) shall only be payable to Contractor from amounts
available in the Original Project Construction Contingency or the Expansion Project Construction Contingency (as applicable), if any; 
  
 3.2.13.11 Other actual direct costs specifically stated in this Agreement as being payable to Contractor as a Cost of the Work; and

  
 3.2.13.12 Other actual direct costs
incurred in the performance of the Work, but limited solely to those costs which are approved in writing by Owner in advance. 
  
 3.3 Non-Allowable Cost of the Work. “Non-Allowable Cost of the Work” means the direct and/or indirect costs described in this
Section 3.3 and all similar costs and all other costs not included within the Cost of the Work, which are paid or incurred by Contractor during or in connection with the performance of the Work. All such Non-Allowable Costs of the Work
are included in the Original Project Contractor’s Fee and the Expansion Project Contractor’s Fee set forth in Sections 3.1.2 and 3.1.3 above, regardless of whether they exceed the amount of the Original Project
Contractor’s Fee or the Expansion Project Contractor’s Fee (as applicable). Notwithstanding any provision of this Contract to the contrary, (a) an item of cost which would otherwise be included in the Cost of the Work shall be deemed
a Non-Allowable Cost of the Work if any of the provisions of Sections 3.3.1 through 3.3.26 below shall apply to such item of cost, and (b) Contractor shall not be entitled to receive any additional reimbursement for Non-Allowable
Costs of the Work, including, but not limited to, any of the types of cost items described as follows: 
  
 3.3.1 The cost of any item not specifically and expressly included as a Cost of the Work in Section 3.2 above;

  

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 3.3.2 Costs in excess of the Original Project Guaranteed Maximum Price or the
Expansion Project Guaranteed Maximum Price (as applicable); 
  
 3.3.3 Salaries and all other compensation of the Contractor’s personnel and representatives performing any function at any location other than at the Site, except for those Personnel individually named as
approved in Exhibit C attached hereto, and to the extent described therein; 
  
 3.3.4 All direct and indirect operating, maintenance and overhead costs of any nature whatsoever arising out of or in any way
relating to any of the Contractor’s principal or branch offices, including, but not limited to: office space; furniture and equipment which is dedicated to or reserved for use for the Work; leasing and rental costs; maintenance; local
telephone; utilities; depreciation; security; office supplies; property taxes; the development of engineering and construction manuals, standards or computer programs; personnel training of any kind; and janitorial services; excepting only those
actual and direct costs incurred and permitted to the extent described in Sections 3.2.7 and 3.2.13 above; 
  
 3.3.5 Any expenses relating to Contractor’s operating capital, including interest on the Contractor’s capital employed in
support of the Work (provided, however, as to interest, only so long as Owner timely pays amounts properly due and owing to Contractor in accordance with and subject to the Contract Documents); 
  
 3.3.6 All direct and indirect costs arising out of
the fault or negligence of, or failure to comply with the terms of the Contract Documents or any subcontracts by, the Contractor, any Subcontractor or Vendor, Architect/Engineer, or anyone directly or indirectly employed by any of them, or for whose
acts or omissions any of them are responsible or liable at law or under the Contract Documents; 
  
 3.3.7 Except to the extent provided in Section 7.2, all direct and indirect costs arising out of the failure of any
portion of the Work to comply with applicable Laws; all direct and indirect costs of any nature relating to work arising during the Original Project Defects Liability Period or the Expansion Project Defects Liability Period defined in
Section 10.2 of this Agreement, for correction, removal, replacement or disposal of any non-conforming Work, materials or equipment to the extent defined in Article 10 of this Agreement 
  
 3.3.8 All costs incurred by Contractor for bonuses
(other than the Chinese New Year bonus, as applicable), stock options, profits sharing arrangements and similar incentive programs; 
  

 29 

 3.3.9 All direct and indirect costs of any nature resulting from or attributable
to either delays, disruptions or interferences, excepting only for those costs which are expressly identified and permitted in accordance with Article 11 of this Agreement; 
  
 3.3.10 All direct and indirect costs of any nature resulting from or attributable to terminations,
cancellations for convenience or suspensions, excepting only for those costs which are expressly identified and permitted in accordance with Article 17 of this Agreement; 
  
 3.3.11 Rental costs of Contractor or affiliate owned machinery and equipment, except as specifically
provided in Section 3.2.6 of this Agreement; 
  
 3.3.12 All costs and fees relating to business and/or operating permits, licenses and taxes, required by any governmental authorities (except as provided in Sections 3.2.8 and 3.2.13.5, and
other than work visas and/or work permits, which shall be included in the Cost of the Work) or by labor agreements to enable the Contractor, its Subcontractors or Vendors of any tier to be qualified to do business and/or perform trade activities
and/or any Work pursuant to the Contract Documents; 
  
 3.3.13 Costs incurred by Contractor in satisfying its indemnification obligations pursuant to Article 14 of this Agreement or any other Contractor indemnification provision of the Contract Documents; 
  
 3.3.14 Payments on account of materials, supplies,
and equipment until delivered and suitably stored at the Site for subsequent incorporation or consumption in the Work, except as specifically provided in Sections 3.2.4, 5.11 and 5.13 of this Agreement or as otherwise
approved by Owner on a case-by-case basis (if, however, in Owner’s reasonable opinion, such warehousing and storage costs are due to Contractor caused delays and/or poor sequencing of the Work by Contractor, these costs shall not be considered
a Cost of the Work and will be at Contractor’s sole cost and expense); 
  
 3.3.15 Payments made to Subcontractors or Vendors in violation of the provisions of this Agreement; 
  
 3.3.16 Legal costs incurred by Contractor relating to the preparation, response to or defense of any Claim, or of any claims by
third parties for copyright or patent infringement, for which Contractor or any Subcontractor or Vendor are liable or responsible at law or under the Contract Documents; 
  
 3.3.17 Any cost incurred by Contractor relating to a Change in the Work without a Change Order or
Construction Change Directive (other than a Minor Change or unless approved otherwise in writing by Owner and Owner’s Lenders); 
  

 30 

 3.3.18 Costs reimbursed by insurance to Contractor or any Subcontractor or Vendor;

  
 3.3.19 The costs of any insurance
premiums for insurance coverage, and the amounts of any insurance deductibles, beyond that required or permitted, respectively, by Section 15.1 hereof, except to the extent provided in Section 3.2.13.10 hereof or as otherwise
provided for in this Agreement; 
  
 3.3.20
Costs that Owner has already paid; 
  
 3.3.21 All direct and indirect costs of any nature relating to work arising during the Original Project Defects Liability Period or the Expansion Project Defects Liability Period defined in Section 10.2 of this Agreement,
for correction, removal, replacement or disposal of any non-conforming Work, materials or equipment, except to the extent provided in Section 3.2.13.9 hereof; 
  
 3.3.22 Costs incurred for the purpose of correcting any defects in the Work after the Original
Project Defects Liability Period and the Expansion Project Defects Liability Period; 
  
 3.3.23 Costs of repairing defective or non-conforming Work or Work damaged by Contractor, any Subcontractor or Vendor, anyone
directly or indirectly employed by any of them, or for those acts or omissions any of them are responsible or liable at law or under the Contract Documents, except to the extent provided in Section 3.2.10 hereof; 
  
 3.3.24 Costs that are incurred or are submitted to
Owner for payment after Original Project Final Payment or Expansion Project Final Payment (as applicable) has been made, except for the specific dollar amounts of any unresolved claims specifically identified in its Application for Original Project
Final Payment or Expansion Project Final Payment (as applicable); 
  
 3.3.25 Any cost specifically stated in this Agreement as not reimbursable to the Contractor or not includable in the Cost of the Work; and 
  
 3.3.26 All other direct, indirect and/or overhead costs of any nature whatsoever, except as otherwise
expressly provided to the contrary in the Contract Documents. 
  
 3.4 Contractor’s Responsibility For Taxes. Other than as provided in Section 3.2.8, Exhibit N or elsewhere in this Agreement, it is expressly understood that no Taxes of any nature whatsoever are considered a
Cost of the Work and that Contractor will not be separately reimbursed for any Taxes. Contractor shall be responsible for and shall timely pay, all Taxes relating to or arising out of the performance of the Work or Contractor’s obligations
under the Contract. 
  

 31 

 3.5 Discounts, Rebates and Refunds. All cash discounts (so long as Owner has made payment to
Contractor to the extent advance or timely payment is necessary to obtain such cash discount), trade discounts, rebates and refunds obtained by Contractor during the course of the Work shall be credited to the Original Project Construction
Contingency or the Expansion Project Construction Contingency based on whether such trade discount, rebate or refund arises out of the Original Project Work or the Expansion Project Work, and allocated in accordance with Section 3.2.
Contractor shall take all necessary steps to obtain, secure and pass on such credits to Owner and all such discounts, rebates and refunds shall be fully reflected in Contractor’s monthly Applications for Progress Payment submitted pursuant to
Article 5 of this Agreement. Title to all materials, tools, and equipment paid for by Owner shall be vested in Owner. At the completion of the Work and when no longer required, such tools, equipment and materials as remain and have been or
shall be paid for by the Owner shall belong to Owner and be, as Owner may direct (a) sold at the direction of Owner and all sums and allowances realized and received by Contractor shall be credited against the Cost of the Work for all purposes
under this Agreement or (b) delivered to Owner, all as Owner shall direct. 
  
 3.6 No Duplication. Notwithstanding the breakdown or categorization of any costs in this Article 3 or elsewhere in the Contract Documents, there shall be no duplication of payment in the event any
particular items for which payment is requested can be characterized as falling into more than one of the types of compensable or reimbursable categories. 
  
 ARTICLE IV. 
 CONTRACT TIME AND
INTERIM MILESTONE DATES 
  
 4.1 Definitions.

  
 4.1.1 The term
“day” means any calendar day including public holidays. 
  
 4.1.2 The term “Notice to Proceed” means the written notice from Owner to Contractor providing Contractor with a “Date of Commencement” for the Work, which Date of Commencement shall
not be earlier than thirty (30) days after the date on which the Notice to Proceed is delivered to Contractor. At Owner’s option, the Notice to Proceed may specify a Date of Commencement with respect to only a specific portion or aspect of
the Work or may specify varying Dates of Commencement for different portions or aspects of the Work. Contractor will not commence or perform any Work or portion thereof, or enter upon the Site except with the prior written consent of Owner, prior to
the Date of Commencement for such Work in Owner’s Notice to Proceed. 
  
 4.1.3 The Contractor and the Owner hereby agree (i) that the Notice to Proceed given by the Owner to the Contractor with respect to the Original Project Work was properly provided in accordance with the
terms and conditions of this Agreement on June 11, 2004 and (ii) with respect to the Expansion Project, July 15, 2005 shall be the Expansion 

  

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Project Date of Commencement, and no Notice to Proceed with respect to the Expansion Project Work is required. 
  
 4.1.4 The term “Original Project Interim
Milestone Dates” means either the fixed dates, or the fixed number of calendar days, available to Contractor to achieve the key schedule “Original Project Interim Milestones” identified in Attachment 2 to Exhibit
B (as it may be updated or revised from time to time in accordance with Section 11.2, the “Original Project Schedule”). The term “Expansion Project Interim Milestone Dates” means either the fixed dates, or
the fixed number of calendar days, available to Contractor to achieve the key schedule “Expansion Project Interim Milestones” identified in Attachment 5 to Exhibit B (as it may be updated or revised from time to time
in accordance with Section 11.2, the “Expansion Project Schedule”). 
  
 4.1.5 The term “Contract Time” means (a) with respect to Original Project Substantial Completion, the period
of time between the Original Project Date of Commencement and Guaranteed Date of Original Project Substantial Completion, (b) with respect to Original Project Final Completion, the period of time between the Guaranteed Date of Original Project
Substantial Completion and the Guaranteed Date of Original Project Final Completion, (c) with respect to Expansion Project Substantial Completion, the period of time between the Expansion Project Date of Commencement and Guaranteed Date of
Expansion Project Substantial Completion and (d) with respect to Expansion Project Final Completion, the period of time between the Guaranteed Date of Expansion Project Substantial Completion and the Guaranteed Date of Expansion Project Final
Completion. 
  
 4.1.6 The term
“Guaranteed Date of Original Project Final Completion” means the date which is sixty (60) calendar days after the date of Original Project Substantial Completion or such longer period as is permitted pursuant to
Section 12.2. 
  
 4.1.7 The
term “Guaranteed Date of Original Project Substantial Completion” means the date which is seven hundred ninety-one (791) calendar days from and after the Original Project Date of Commencement. 
  
 4.1.8 The term “Guaranteed Date of Expansion
Project Final Completion” means the date which is sixty (60) calendar days after the date of Expansion Project Substantial Completion or such longer period as is permitted pursuant to Section 12.2. 
  
 4.1.9 The term “Guaranteed Date of Expansion
Project Substantial Completion” means the date which is seven hundred twenty-six (726) calendar days from and after the Expansion Project Date of Commencement. 
  
 4.2 Time of the Essence. Contractor hereby accepts and confirms that, subject to the terms of this Agreement, the
Contract Time is reasonable for completing the Work and hereby agrees to dedicate such personnel and other resources as are necessary to assure that the Work is continuously managed and performed in a diligent, skilled and workmanlike manner to
achieve the Original Project Interim Milestone Dates, the Expansion Project 

  

 33 

 
Interim Milestone Dates, the Guaranteed Date of Original Project Substantial Completion and the Guaranteed Date of Expansion Project Substantial Completion.
Contractor and Owner acknowledge that TIME IS OF THE ESSENCE with respect to their respective obligations under the Contract Documents, and that Owner’s business interests will suffer substantial losses in the event that any Original Project
Interim Milestone or Expansion Project Interim Milestone is not achieved by the applicable Original Project Interim Milestone Date or Expansion Project Interim Milestone Date and/or Original Project Substantial Completion or Expansion Project
Substantial Completion is not achieved by the Guaranteed Date of Original Project Substantial Completion or Guaranteed Date of Expansion Project Substantial Completion (as applicable) in accordance with and subject to the terms of this Agreement.
Notwithstanding the foregoing, the liability of Contractor due solely to the failure to achieve one or more of the Original Project Interim Milestones or the Expansion Project Interim Milestones by the applicable Original Project Interim Milestone
Date or Expansion Project Interim Milestone Date shall be limited to (a) the cost of preparing and implementing an acceptable Recovery Plan with respect to the applicable milestone(s) in accordance with Section 11.8 to address such
failure, (b) all costs and expenses incurred by Owner in preparing and implementing an Owner Recovery Plan to address such failure as described in and subject to any limitation set forth in Section 11.8.6 (any such amounts described
under clauses (a) and (b), collectively, “Recovery Plan Liabilities”), and (c) the Original Project Liquidated Damages or the Expansion Project Liquidated Damages (as applicable) provided for under
Section 4.4.1.1 with respect to each such milestone. Contractor’s liability with respect to the failure to achieve Original Project Substantial Completion by the Guaranteed Date of Original Project Substantial Completion is covered
under Section 4.4. Contractor’s liability with respect to the failure to achieve Expansion Project Substantial Completion by the Guaranteed Date of Expansion Project Substantial Completion is covered under Section 4.4.
Notwithstanding anything to the contrary contained herein, the aggregate liability of Contractor with respect to Original Project Work for (i) Recovery Plan Liabilities, as provided in this Section 4.2, and (ii) Original
Project Liquidated Damages, as provided in Section 4.4.1, shall not exceed the sum of Twenty Million United States Dollars (US$20,000,000) and the aggregate liability of Contractor with respect to Expansion Project Work for
(i) Recovery Plan Liabilities, as provided in this Section 4.2, and (ii) Expansion Project Liquidated Damages, as provided in Section 4.4.1, shall not exceed the sum of Ten Million United States Dollars
(US$10,000,000). 
  
 4.3 Completion Guarantees. Contractor
and Owner agree that the Original Project Work commenced on the Original Project Date of Commencement. Subject to changes in the Contract Time which are mutually agreed to in accordance with the Contract Documents, Contractor hereby guarantees to
cause the Expansion Project Work to be commenced on the Expansion Project Date of Commencement as provided in Section 4.1.2 hereof, and (a) to timely achieve each of the Original Project Interim Milestones and the Expansion Project
Interim Milestones on or before the applicable Original Project Interim Milestone Date or Expansion Project Interim Milestone Date, and (b) to timely achieve Original Project Substantial Completion and Expansion Project Substantial Completion
in 

  

 34 

 
accordance with the requirements of Section 12.1 of this Agreement on or before the Guaranteed Date of Original Project Substantial Completion
and the Guaranteed Date of Expansion Project Substantial Completion (as applicable). Contractor shall and hereby agrees to indemnify Owner from and against any and all costs, damages, expenses, losses, liabilities and obligations relating to and/or
arising out of Contractor’s failure to achieve either of Original Project Substantial Completion or Expansion Project Substantial Completion by the Guaranteed Date of Original Project Substantial Completion or the Guaranteed Date of Expansion
Project Substantial Completion (as applicable), except pursuant to schedule extensions which are set forth in Change Orders in accordance with the Contract Documents. 
  
 4.4 Liquidated Damages With Respect to Delays. 
  
 4.4.1 If any Original Project Interim Milestone or Expansion Project Interim Milestone is not
achieved by the applicable Original Project Interim Milestone Date or Expansion Project Interim Milestone Date and/or Original Project Substantial Completion or Expansion Project Substantial Completion is not achieved by the Guaranteed Date of
Original Project Substantial Completion or the Guaranteed Date of Expansion Project Substantial Completion (as applicable), as such time periods may be adjusted pursuant to the Contract Documents, Contractor acknowledges and agrees that Owner will
suffer significant damages. Accordingly, if any Original Project Interim Milestone or Expansion Project Interim Milestone is not achieved by the applicable Original Project Interim Milestone Date or Expansion Project Interim Milestone Date and/or
Original Project Substantial Completion or Expansion Project Substantial Completion is not achieved by the Guaranteed Date of Original Project Substantial Completion or the Guaranteed Date of Expansion Project Substantial Completion (as applicable),
Contractor shall pay to Owner on demand (or, at Owner’s option Owner may deduct, withhold and/or set off the whole or any portion of the following liquidated damages amounts from or against any amounts then or thereafter payable or due to
Contractor from Owner), as liquidated damages for such delay and not as a penalty, the following amounts: 
  
 4.4.1.1 If any Original Project Interim Milestone is not achieved by the applicable Original Project Interim Milestone Date, the
amount identified in Attachment 2 to Exhibit B with respect to such Original Project Interim Milestone per day for each day of delay from and after such Original Project Interim Milestone Date until such Original Project Interim
Milestone is achieved; 
  
 4.4.1.2 If
Original Project Substantial Completion is not achieved by the Guaranteed Date of Original Project Substantial Completion, Three Hundred Thousand United States Dollars (US$300,000) per day for each day of delay from and after the Guaranteed Date of
Original Project Substantial Completion until Original Project Substantial Completion is achieved; 
  

 35 

 4.4.1.3 If any Expansion Project Interim Milestone is not achieved by the
applicable Expansion Project Interim Milestone Date, the amount identified in Attachment 5 to Exhibit B with respect to such Expansion Project Interim Milestone per day for each day of delay from and after such Expansion Project
Interim Milestone Date until such Expansion Project Interim Milestone is achieved; and 
  
 4.4.1.4 If Expansion Project Substantial Completion is not achieved by the Guaranteed Date of Expansion Project Substantial
Completion, One Hundred Fifty Thousand United States Dollars (US$150,000) per day for each day of delay from and after the Guaranteed Date of Expansion Project Substantial Completion until Expansion Project Substantial Completion is achieved;

  
 The liquidated damages payable by Contractor
pursuant to this Section 4.4.1 are referred to herein as “Liquidated Damages”. The Liquidated Damages payable by Contractor with respect to Original Project Work are referred to herein as “Original Project
Liquidated Damages”. The Liquidated Damages payable by Contractor with respect to Expansion Project Work are referred to herein as “Expansion Project Liquidated Damages”. Notwithstanding anything to the contrary contained
herein, the aggregate liability of Contractor with respect to Original Project Work for (i) Recovery Plan Liabilities, as provided in Section 4.2, and (ii) Original Project Liquidated Damages, as provided in this
Section 4.4.1, shall not exceed the sum of Twenty Million United States Dollars (US$20,000,000) and the aggregate liability of Contractor with respect to Expansion Project Work for (i) Recovery Plan Liabilities, as provided in
Section 4.2, and (ii) Expansion Project Liquidated Damages, as provided in this Section 4.4.1, shall not exceed the sum of Ten Million United States Dollars (US$10,000,000). 
  
 4.4.2 Owner and Contractor hereby agree that it would
be impractical or impossible to ascertain at the outset of the Project the exact amount of damages in the case of Contractor’s failure to cause any Original Project Interim Milestone or Expansion Project Interim Milestone to be achieved by the
applicable Original Project Interim Milestone Date or Expansion Project Interim Milestone Date or Original Project Substantial Completion or Expansion Project Substantial Completion to be achieved by the Guaranteed Date of Original Project
Substantial Completion or Guaranteed Date of Expansion Project Substantial Completion (as applicable) and agree to stipulate that Owner’s loss in the case of any such failure will be deemed equal to the amounts set forth herein as liquidated
damages for the specific periods set forth in Section 4.4.1 above, which amounts both parties agree represent the parties’ best efforts at the outset in making a genuine pre-estimate of Owner’s actual damages in such event, and
which amount shall be the only monies due from the Contractor for such failure and which the parties agree shall be the Owner’s sole remedy for delay in the execution of the Work, except as set forth in Section 4.2. Other than with
respect to Owner’s right to claim damages for delay in the execution of the Work, the imposition or payment of Original Project Liquidated Damages or Expansion Project Liquidated Damages (as applicable) under Section 4.4.1 shall not
in any way limit Contractor’s liability for any other act or omission, or for any breach or default of 

  

 36 

 
Contractor, Subcontractor or any Vendor under any of the Contract Documents, other than for delay in the execution of the Work, or any way limit Owner’s
other rights and remedies under this Agreement, including, but not limited to, Owner’s right to terminate Contractor as the contractor with respect to the Work and to retain a different contractor to complete the Work. 
  
 4.4.3 Notwithstanding the provisions of this
Section 4.4, the foregoing Original Project Liquidated Damages and Expansion Project Liquidated Damages shall not apply to or limit in any way any of Contractor’s obligations and covenants under Section 11.8 hereof,
including, but not limited to, Contractor’s obligation to provide and implement any Recovery Plan and/or take all available steps to overcome or mitigate against the adverse effects of all delays identified by Owner; provided, however, that the
aggregate liability of Contractor with respect to Original Project Work for (i) Recovery Plan Liabilities, as provided in Section 4.2, and (ii) Original Project Liquidated Damages, as provided in this Section 4.4.3,
shall not exceed the sum of Twenty Million United States Dollars (US$20,000,000) and the aggregate liability of Contractor with respect to Expansion Project Work for (i) Recovery Plan Liabilities, as provided in Section 4.2, and
(ii) Expansion Project Liquidated Damages, as provided in this Section 4.4.3, shall not exceed the sum of Ten Million United States Dollars (US$10,000,000). 
  
 4.5 Early Completion. 
  
 4.5.1 If Original Project Substantial Completion is achieved by Contractor prior to the Guaranteed Date of Original Project
Substantial Completion, as may be adjusted pursuant to the Contract Documents, and Contractor has fully and timely performed all of its obligations under the Contract Documents and is not in default or breach thereunder, Contractor shall be entitled
to an early completion bonus payment (in addition to the Original Project Contractor’s Fee), to be paid to Contractor concurrently with the Original Project Final Payment, in the amount of Fifty Thousand United States Dollars (US$50,000) per
day for each day, up to but not to exceed a maximum total early completion bonus payment of One Million United States Dollars (US$1,000,000), that the Contractor achieves Original Project Substantial Completion in advance of the Guaranteed Date of
Original Project Substantial Completion. The early completion bonus will only be owed to Contractor if (a) Contractor is able to accelerate Original Project Substantial Completion without the use of excessive overtime labor funded as a Cost of
the Work or other increase in the Cost of the Work which is incurred or arranged with the intent to achieve Original Project Substantial Completion prior to the Guaranteed Date of Original Project Substantial Completion and (b) the amount of
the early completion bonus exceeds the cost of any recovery plan under Section 11.8. 
  
 4.5.2 If Casino Area 4 is completed by Contractor prior to its applicable Expansion Project Interim Milestone identified in
Attachment 5 to Exhibit B, as may be adjusted pursuant to the Contract Documents, and Contractor has fully and timely performed all of its obligations under the Contract Documents and is not in default or breach 

  

 37 

 
thereunder, Contractor shall be entitled to an early completion bonus payment (in addition to the Expansion Project Contractor’s Fee), to be paid to
Contractor concurrently with the Expansion Project Final Payment, in the amount of Twenty-Five Thousand United States Dollars (US$25,000) per day for each day, up to but not to exceed a maximum total early completion bonus payment, when aggregated
with the early completion bonus payment under Section 4.5.3, of Five Hundred Thousand United States Dollars (US$500,000), that the Contractor completes Casino Area 4 in advance of its applicable Expansion Project Interim Milestone. The early
completion bonus will only be owed to Contractor if (a) Contractor is able to accelerate the completion of Casino Area 4 without the use of excessive overtime labor funded as a Cost of the Work or other increase in the Cost of the Work which is
incurred or arranged with the intent to completes Casino Area 4 in advance of its applicable Expansion Project Interim Milestone and (b) the amount of the early completion bonus exceeds the cost of any recovery plan under Section 11.8. The
determination of whether Casino Area 4 has been completed for purposes of this Section 4.5.2 shall be made in accordance with the provisions in Section 12.1 governing substantial completion, as if Casino Area 4 is the “Expansion
Project” thereunder. 
  
 4.5.3 If
Casino Area 5 is completed by Contractor prior to its applicable Expansion Project Interim Milestone identified in Attachment 5 to Exhibit B, as may be adjusted pursuant to the Contract Documents, and Contractor has fully and timely performed all of
its obligations under the Contract Documents and is not in default or breach thereunder, Contractor shall be entitled to an early completion bonus payment (in addition to the Expansion Project Contractor’s Fee), to be paid to Contractor
concurrently with the Expansion Project Final Payment, in the amount of Twenty-Five Thousand United States Dollars (US$25,000) per day for each day, up to but not to exceed a maximum total early completion bonus payment, when aggregated with the
early completion bonus payment under Section 4.5.2, of Five Hundred Thousand United States Dollars (US$500,000), that the Contractor completes Casino Area 5 in advance of its applicable Expansion Project Interim Milestone. The early completion
bonus will only be owed to Contractor if (a) Contractor is able to accelerate the completion of Casino Area 5 without the use of excessive overtime labor funded as a Cost of the Work or other increase in the Cost of the Work which is incurred
or arranged with the intent to completes Casino Area 5 in advance of its applicable Expansion Project Interim Milestone and (b) the amount of the early completion bonus exceeds the cost of any recovery plan under Section 11.8. The
determination of whether Casino Area 5 has been completed for purposes of this Section 4.5.3 shall be made in accordance with the provisions in Section 12.1 governing substantial completion, as if Casino Area 5 is the “Expansion
Project” thereunder. 
  
 4.6 Guarantees of Completion and
Performance. 
  
 4.6.1 Parent
Completion Guarantee. Contractor shall cause Leighton Holdings Limited and China Overseas Holdings Limited (each, a “Guarantor”, and jointly and severally, the “Guarantors”) to execute and deliver to
Owner, on or before the date that is the earlier of (A) thirty days following the execution of this Agreement and (B) the consummation of Owner’s refinancing of 

  

 38 

 
the Project (currently scheduled to be on or about August 15, 2005), (i) the Guarantee and (ii) a consent to the assignment of the Guarantee
by Owner to Owner’s Lenders. 
  
 ARTICLE V. 

PAYMENTS TO CONTRACTOR 
  
 In consideration of Contractor’s performance of the Work in full compliance with the Contract Documents, Owner shall pay Contractor as follows:

  
 5.1 Schedule of Values. 
  
 5.1.1 Upon execution of this Agreement, Contractor
shall submit to Owner and Owner’s Lenders an initial “Expansion Project Schedule of Values” for the Expansion Project Work, allocating values among all categories or portions of the Expansion Project Work. the Expansion Project
Schedule of Values shall be prepared in such form and supported by data to substantiate its accuracy to the extent as Owner may reasonably require, shall be based upon the latest cost information available to Contractor, and shall be subject to
Owner’s approval which approval shall not be unreasonably withheld or delayed. By way of example and not by limitation, the Expansion Project Schedule of Values should include and delineate: (a) each trade subcontract and major component
thereof; (b) each significant purchase order and the installation costs for all procured materials and equipment, so that logical and realistic cost breakdowns are established and set forth for all facilities, phases, areas, trade disciplines,
utility and electrical systems, FF&E items and major components of each of the foregoing. The Owner accepted Expansion Project Schedule of Values together with the payment terms of subcontracts and purchase orders approved by Owner (as Work is
performed pursuant to such subcontracts and purchase orders) shall be used as a basis for the Contractor’s Applications For Progress Payments described in Section 5.2 below. Owner shall have the right to reject all or any portion of
the Expansion Project Schedule of Values which Owner determines does not accurately define the Work in reasonable detail, or if the detail provided does not accurately reflect an appropriate cost, allocation or proportion of the Work. At any time
and from time to time if it reasonably appears to Owner or Contractor that any aspect of the Expansion Project Schedule of Values is incomplete or inaccurate, and following any Change Order or Construction Change Directive, the Expansion Project
Schedule of Values shall be adjusted by Contractor, in each case subject to Owner’s written approval, to reflect accurately the values of the various portions of the Expansion Project Work. 
  
 5.1.2 The Original Project Schedule of Approved
Values was delivered by Contractor to Owner on or about July 27, 2004. 
  

 39 

 5.2 Applications For Progress Payments. 
  
 5.2.1 Format of Applications 
  
 5.2.1.1 On or before the first (1st) day of each month, Contractor shall submit to Owner and Owner’s Lenders an initial draft of a Contractor’s
Application for Progress Payment for the previous month itemized with respect to Original Project Work and Expansion Project Work. 
  
 5.2.1.2 On or before the fifth (5th) day of each month, Contractor shall submit to Owner and Owner’s Lenders fully completed Applications For Progress Payment for Original Project Work and Expansion Project Work for the
previous month in a format reasonably satisfactory to Owner and supported by such documentation to verify entitlement as Owner and Owner’s Lenders may reasonably require, and certified by Contractor as correct. Each Application for Progress
Payment, identified as a Original Project Work application or a Expansion Project Work application, shall be separately and sequentially numbered by Original Project Work or Expansion Project Work, and shall clearly identify, itemize and attribute
all Costs of the Work in a manner which facilitates review by Owner. Such Applications for Progress Payment may only request payment for Cost of the Work actually incurred prior to the date of such Application for Progress Payment and that the
Contractor has paid or intends to pay to a Subcontractor or Vendor promptly after receipt by the Contractor of the corresponding payment from the Owner, and may not include requests for payment of amounts Contractor does not intend to pay promptly
to a Subcontractor or Vendor because of a dispute or other reason. Contractor shall not submit more than one Application for Progress Payment per Original Project Work or Expansion Project Work per month, unless otherwise requested by Owner. In
addition, each Application for Progress Payment shall separately identify and itemize the following: 
  
 (a) Work performed during such preceding calendar month, together with a statement indicating what portion of such Work relates to the
Hotel or the Casino, respectively. 
  
 (b)
Amounts due for Contractor’s initial scope of Work satisfactorily completed during the preceding month as measured by the Contractor’s direct and actual costs incurred in accordance with the Cost of the Work described in
Section 3.2 of this Agreement, a list of all bills for supplies, materials, equipment, and fixtures incorporated or to be incorporated in the Work (in detail reasonably sufficient to allow Owner to determine where each item is
incorporated or to be incorporated) and labor performed (in detail reasonably sufficient to allow Owner to determine where and on what portion of the Work the labor was performed, including, but not limited to, labor payrolls with names, dates,
hours and rates) in connection with the Work, together with copies of the actual bills payable to Subcontractors and Vendors under lump sum agreements or otherwise as they relate to such Application for Payment. 
  
 (c) For each category and portion of the Work as shown on
the Original Project Schedule of Approved Values or Expansion Project 

  

 40 

 
Schedule of Values (as applicable): (1) the amount requested on all previous Applications for Progress Payment, (2) the amount requested on the
current Application for Progress Payment, and (3) the amount allocated to the Work yet to be completed. 
  
 (d) The percentage completion of each portion of the Work as of the end of the period covered by the Application for Progress Payment,
shown as the percentage obtained by dividing (a) the expense which has actually been incurred by Contractor on account of that portion of the Work for which Contractor has made or intends to make actual payment prior to the next Application for
Progress Payment, by (b) the amount allocated to that portion of the Work in the Original Project Schedule of Approved Values or Expansion Project Schedule of Values (as applicable). 
  
 (e) Amounts due which are attributable to the Original
Project Contractor’s Fee or Expansion Project Contractor’s Fee (as applicable) earned as a result of the completion of Contractor’s scope of Work during such period covered by and included in the Application for Progress Payment and
approved by Owner. Under no circumstances shall Contractor include in any Application for Progress Payment, nor shall Owner be required to pay, an Application for Progress Payment for funds to pay an amount in excess of the then applicable pro rata
portion of the Original Project Contractor’s Fee or Expansion Project Contractor’s Fee (as applicable), using the ratio that the portion of the Work then completed bears to the total Work (as determined by the total Costs of the Work
disbursed to date for the Original Project Work or Expansion Project Work (as applicable) compared to the total approved Costs of the Work amount on the Original Project Schedule of Approved Values or Expansion Project Schedule of Values (as
applicable)). 
  
 (f) For all amounts due as the
result of Change Orders and Construction Change Directives, the Contractor shall make submittals for each Change Order and Construction Change Directive. 
  
 (g) Reflect Retention in the amount provided for pursuant to Section 5.6 of this Agreement. 
  
 (h) Such additional information and documentation regarding
the progress of the Work as Owner or Owner’s Lenders may reasonably require. 
  
 5.2.2 Substantiation of Costs. Contractor shall support its Applications for Progress Payment with relevant documentary evidence
for cost verification purposes as Owner and Owner’s Lenders may reasonably require. This obligation shall include providing Owner with such supporting documentation as necessary to enable Owner to verify Costs of the Work submitted pursuant to
Section 3.2 of this Agreement, including any 

  

 41 

 
Costs of the Work attributable to Change Orders or Construction Change Directives. To the extent requested by Owner, this shall include providing audit
access to Contractor’s books and records to the extent described in Article 19 of this Agreement. All blanks and columns in the Application for Progress Payment must be completed. With respect to all costs associated with deposits,
advance payments or materials stored off-Site, Contractor must comply with the provisions of Sections 5.11 and 5.13 of this Agreement. 
  
 5.2.3 Additional Costs For Change Orders and Claims. Except for Construction Change Directives or pursuant to an Owner signed
Change Order, Owner shall not have any obligation to pay any amounts to Contractor or any Subcontractor or Vendor for work outside the scope of Contractor’s Work. 
  
 5.2.4 Lien Waivers. Each Application for Progress Payment shall include signed (along with company
seal or chop, at Contractor’s option) Waiver and Release of Lien Upon Progress Payment in the form attached hereto as Exhibit H from Contractor with regard to Work that is covered on the Application for Progress Payment.
Owner’s receipt of such executed waiver shall be a condition precedent to Owner’s obligation to pay any amounts pertaining thereto. In addition, Owner may at any time direct Contractor to submit a certificate that all payrolls, invoices
for material and equipment, and other indebtedness connected with the Work and associated with an Application For Progress Payment have been paid. 
  
 5.2.5 Contractor Statements. Each Application for Progress Payment (and for Original Project Final Payment and Expansion Project
Final Payment) shall include a “Contractor’s Certificate,” in form and substance identical to Exhibit I attached to this Agreement, signed by Contractor. Further, unless otherwise stated by Contractor in the
Contractor’s Certificate and accepted by Owner, the issuance of an Application for Payment by Contractor will constitute a representation by Contractor to Owner that (a) the Work has progressed in accordance with the Original Project
Schedule or Expansion Project Schedule (as applicable), (b) the quality of the Work performed up to the date of such Application for Payment is in compliance with the requirements set forth in the Contract Documents, (c) Contractor is not
in breach of any of the provisions of the Contract Documents, and (d) Contractor is entitled to payment in the amount certified. The payment by Owner of any amount requested in an Application for Progress Payment shall not be deemed to
represent in any way that (i) Owner has inspected the quality or quantity of the Work, (ii) Owner has reviewed the construction means, methods, techniques, sequences or procedures used by Contractor, or (iii) Owner has made any
examination to ascertain how Contractor has used the progress payments previously made to it. 
  
 5.3 Time of Payments. Subject to the terms of the Contract Documents, Owner shall make to Contractor progress payments properly due and undisputed based on an approved Application for Progress Payment within
twenty-five (25) calendar days after receipt of such fully completed Applications for Progress Payment which are submitted along with all requirements under Section 5.2 above, and substantiated in accordance with 

  

 42 

 
Section 5.2.2 above, and otherwise reasonably satisfactory to and approved by Owner and Owner’s Lenders, less any amounts that may be
retained or withheld pursuant to the Contract Documents. Contractor recognizes that (i) any payment to it by the Owner is conditional upon the approval by Owner’s Lenders of the related Application for Progress Payment, and that
(ii) Owner’s Lenders are entitled to request that the Contractor deliver further documents or substantiation of costs before approving any Application for Progress Payment. Owner shall promptly inform Contractor if Owner becomes aware that
any of Owner’s Lenders will not be funding all or any portion of a particular Application for Progress Payment, notwithstanding that Owner shall have approved such Application for Progress Payment. 
  
 5.4 Owner’s Right To Withhold. Notwithstanding anything to the
contrary herein, and in addition to Retention, Owner may, upon written notice to Contractor, together with a written explanation of all such withholding and the calculation of the amounts withheld, withhold from any payments otherwise due to the
Contractor (including Final Payment), up to one hundred percent (100%) of the amount which, in Owner’s reasonable opinion, is necessary to protect Owner against or compensate Owner for any and all damages, costs, lawsuits claims,
overpayments, expenses and losses, including, but not limited to, for the cure of any breach, default or failure to perform, or to assure the payment of claims of third persons, in each case attributable to any of the items or circumstances listed
below in this Section 5.4 (such items or circumstances, the “Bases for Withholding”). Owner, at its option, may apply such sums in such manner as Owner may in good faith deem necessary or proper to secure protection from
or to satisfy such claims, and Owner shall not be deemed in default by reason of withholding payment under this Agreement in good faith. Contractor shall not be entitled to receive payment with respect to any portion of an Application for Progress
Payment that is inaccurate or incomplete or that contains any misrepresentation. If Owner becomes aware of any problems developing with respect to the Contractor or the Work which could form the basis for withholding, Owner shall notify Contractor
thereof (provided, however, that any failure by Owner to so notify Contractor shall in no way limit Owner’s right to withhold funds as provided in this Section 5.4). The rights and remedies of Owner under this
Section 5.4 shall be non-exclusive and shall be in addition to all other remedies available to Owner under this Agreement or at law, in equity or otherwise. The Bases for Withholding shall be limited to the following: 
  
 5.4.1 The overall percentage of Original Project Work
or Expansion Project Work (as applicable) satisfactorily completed by Contractor and each relevant Subcontractor and/or Vendor (determined by comparing the amount of Original Project Work or Expansion Project Work (as applicable) satisfactorily
completed to the total amount of Original Project Work or Expansion Project Work (as applicable) to be completed), is less than the overall percentage of payments determined by comparing (i) the sum of (a) all amounts previously paid by
Owner with respect to the Original Project Work or Expansion Project Work (as applicable); and (b) the pending invoice to be paid, to (ii) the total amount of the Cost of Work for the Original Project Work or Expansion Project Work (as
applicable) within the Original Project Guaranteed Maximum Price or Expansion Project 

  

 43 

 
Guaranteed Maximum Price (as applicable); provided, however, that Owner shall not be entitled to withhold on such basis to the extent that Contractor is
otherwise entitled to receive the applicable payment from amounts available in the Original Project Construction Contingency or Expansion Project Construction Contingency (as applicable). 
  
 5.4.2 Contractor’s failure to perform any
Original Project Work or Expansion Project Work (as applicable) and its other obligations hereunder in accordance with the Contract Documents, including, but not limited to, failing to comply with any applicable Laws, failure to submit or carry out
Recovery Plans in accordance with Section 11.8 of this Agreement, and/or failure to maintain insurance in compliance with the requirements of this Agreement; provided, however, that Owner shall not be entitled to withhold on such basis
to the extent that Contractor is otherwise entitled to receive the applicable payment from amounts available in the Original Project Construction Contingency or Expansion Project Construction Contingency (as applicable). 
  
 5.4.3 Defective Work not remedied in a timely manner
after receipt of notice from Owner during the course of the Work, during the Original Project Defects Liability Period or during the Expansion Project Defects Liability Period (as applicable). If any Work inspected by Owner is not to Owner’s
reasonable satisfaction in accordance with the Contract Documents, a condition of any additional payments to Contractor shall be the correction of any such unsatisfactory Work to Owner’s reasonable satisfaction in accordance with the Contract
Documents. 
  
 5.4.4 Failure by Contractor
to make timely or properly due payments to Subcontractors or Vendors in the amounts for which Contractor has received payments from Owner. 
  
 5.4.5 Contractor’s failure to submit lien waivers as required pursuant to Section 5.2.4 above. 
  
 5.4.6 The exercising by Contractor or any
Subcontractor or Vendor of mechanic’s lien rights or other claims relating to the Work against Owner, the premises of Owner, the Project and/or the Site, or the making of any claim against the same by any other party arising out of or relating
to the Work or acts or omissions of Contractor, any Subcontractor or any other person for whose acts Contractor is responsible or liable at law or under the Contract Documents, except for those lien rights exercised as a result of Owner’s
failure to make payment when due to Contractor under the Contract. 
  
 5.4.7 Contractor’s failure to expeditiously remove or release mechanic’s or similar liens made against the premises of Owner and/or the Site, except for those liens made as a result of Owner’s
failure to make payment when due to Contractor under the Contract. 
  

 44 

 5.4.8 Any failure by the Contractor to provide timely access to the
Contractor’s books and records for audit purposes to the extent described in Article 19 of this Agreement. 
  
 5.4.9 Any failure by Contractor to provide the Schedule Updates as required by Article 11 of this Agreement.

  
 5.4.10 Any failure by Contractor to
satisfy any of its obligations under this Agreement to provide certificates or other information requested by Owner’s Lenders. 
  
 5.4.11 Any failure by Contractor to satisfy its obligations under Section 3.1.5 of this Agreement. 
  
 5.4.12 Regarding any particular portion of the
Original Project Work or Expansion Project Work (as applicable) as shown on the Original Project Schedule of Approved Values or Expansion Project Schedule of Values, respectively, any amount requested is attributable to a portion of the Work not
actually completed; provided, however, that Owner shall not be entitled to withhold on such basis to the extent that the applicable payment to be made to Contractor is in respect of a deposit or advance payment to be made by Contractor to a
Subcontractor or Vendor and Contractor is otherwise entitled to receive such payment in accordance with the terms of this Agreement. 
  
 5.4.13 Owner’s or Owner’s Lenders’ good faith belief based on reasonable evidence that any Work will not be
completed within the applicable Contract Time, provided that Contractor has been notified of such belief and fails to provide within seven (7) days either satisfactory evidence to the contrary or an acceptable Recovery Plan pursuant to
Section 11.8. 
  
 5.4.14
Damage to property or Work or injury to persons attributable to the acts or omissions of Contractor, any Subcontractor or any person for whose acts or omissions Contractor is responsible or liable at law or under the Contract Documents. 

 
 5.4.15 Deviations from the Contract Documents
other than those approved or permitted in accordance with the Agreement without an applicable Change Order or Construction Change Directive. 
  
 5.4.16 Any material breach or default or failure to perform by Contractor under the Contract Documents, including, but not limited
to, failure to maintain any required insurance, or any material inaccuracy in any of Contractor’s representations or warranties. 
  
 5.4.17 A determination by Owner to nullify in whole or in part a prior approval of an Application for Progress Payment and/or prior
payment made, because of subsequently discovered evidence or subsequent observations which otherwise would allow Owner to withhold pursuant to this Section 5.4 or elsewhere in the Contract Documents. 
  

 45 

 5.4.18 Contractor’s failure to obtain, comply with and keep valid and in full
force, and deliver copies to Owner of, all approvals, permits, certifications, consents and licenses of governmental authorities or other parties having jurisdiction over the Site, the Project or the Work or contractual rights to approve or inspect
any of the foregoing which are necessary at the stage of construction and/or otherwise existing and required to be complied with or satisfied when such disbursement to Contractor is to be made to enable Original Project Final Completion or Expansion
Project Final Completion on or before the applicable Contract Time. 
  
 5.4.19 Except as contemplated by the Contract Documents or otherwise approved by Owner, encroachments by any part of the Work being constructed on property located outside the boundaries of the Site.

  
 5.4.20 An order or statement shall
have been made by or received from any governmental, administrative or regulatory authority or agency stating that the whole or any part of the Work, and/or any proposed change thereto, for which Contractor or any Subcontractor is responsible or
which relates to Contractor’s or any Subcontractor’s activities is in violation of any Laws, unless such order or statement has been timely corrected to the satisfaction of both the applicable governmental agency and Owner and evidence of
such timely correction shall have been provided to Owner in form and substance satisfactory to Owner. 
  
 5.4.21 Contractor’s failure to comply with the requirements of Section 5.13 of this Agreement relating to off-Site
materials. 
  
 5.5 Joint Payee Checks. Owner shall have the
right at any time and from time to time upon notice to Contractor, to issue one or more checks for portions of a progress payment, Original Project Final Payment or Expansion Project Final Payment which are payable jointly to Contractor and its
Subcontractors or Vendors of any tier or the parties owed. This right includes, but is not limited to, issuing jointly payable checks in circumstances where a dispute exists between Owner and Contractor with respect to the value of any partially or
fully completed Work, including disputed Change Proposal Requests and Claims, and circumstances where Contractor has failed to provide lien waiver documents as required herein. Any such checks shall be forwarded to Contractor for further handling.
Without limiting the generality of the foregoing, if Contractor fails, neglects, or refuses to pay for labor or services performed or materials or equipment supplied in connection with the Work for which Contractor has been paid by Owner, Owner
shall have the right (but not the obligation), after giving Contractor written notice thereof, and provided that Contractor fails within fifteen (15) days after such notice to cure such situation or to put forward satisfactory reasons to
justify such non-payment, to make payments directly for any and all such labor, materials, or equipment and to deduct the amount of such payment from any payments otherwise due to Contractor and from the Original Project Guaranteed Maximum Price or
Expansion Project Guaranteed Maximum Price (as applicable). 
  

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 5.6 Retention. 
  
 5.6.1 From each Progress Payment made by Owner on an approved Application for Progress Payment, Owner
shall retain and withhold “Retention” in an amount equal to ten percent (10%) of the approved amounts to be paid with respect to the Work performed directly by Contractor (as distinguished from Work performed by Subcontractors,
Vendors or any other third party). Upon Original Project Substantial Completion, fifty percent (50%) of the Retention withheld with respect to the Original Project Work shall be released on the next regularly scheduled payment date. Subject to
Section 5.6.2, all remaining Retention withheld with respect to the Original Project Work shall be released on the first (1st) anniversary of the date of Original Project Substantial Completion. Upon Expansion Project Substantial Completion, fifty percent (50%) of the Retention withheld with respect to the Expansion Project Work shall be
released on the next regularly scheduled payment date. Subject to Section 5.6.2, all remaining Retention withheld with respect to the Expansion Project Work shall be released on the first (1st) anniversary of the date of Expansion Project Substantial Completion. 
  
 5.6.2 With respect to any portions of the Work for which the Original Project Defects Liability
Period or the Expansion Project Defects Liability Period has been extended pursuant to Section 10.2 of this Agreement, Owner shall retain and withhold from the Retention an amount (the “Defects Liability Retainage”) equal to
three times the Owner’s reasonable estimate of the cost to correct, repair or replace such portions of the Work; thereafter, at the expiration of the Original Project Defects Liability Period or Expansion Project Defects Liability Period (as
extended) for such Work, the Defects Liability Retainage shall be either (i) retained by Owner in the event the Owner exercised its right to correct such Work in accordance with Section 10.7 hereof prior to the expiration of the Original
Project Defects Liability Period or Expansion Project Defects Liability Period (as extended)or (ii) released to Contractor. 
  
 5.6.3 Except as may otherwise be agreed to by Owner pursuant to Section 9.3, Contractor shall retain and withhold from
payments due to Subcontractors and Vendors a retention as follows: (i) in the case of Work performed by Subcontractors providing labor and materials, ten percent (10%) on the approved amounts to be paid, provided that after retaining an
aggregate amount equal to five percent (5%) of the total contract price of the applicable subcontract or purchase order, Contractor is not required to withhold further retention with respect to such Work; (ii) in the case of Work performed
by Subcontractors providing only labor, an amount equal to two and one-half percent (2-1/2%) on the approved amounts to be paid; and (iii) in the case of materials or equipment to be supplied by Vendors, ten percent (10%) on the approved
amounts to be paid, provided that Owner in its sole discretion may agree to reduce such amount in the case of certain Vendors. Except as may otherwise be agreed to by Owner pursuant to Section 9.3, Contractor shall not request in any
Application for Progress Payment, and Owner shall have no obligation to include in any Progress Payment made pursuant thereto, any retention amounts that Contractor is required to withhold pursuant to the foregoing, until such time as the retention
is required to 

  

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be released to the Subcontractor or Vendor in accordance with the applicable approved subcontract or purchase order. For purposes of clarity, as used in this
Section 5.6.3, “approved amounts to be paid” means the approved amounts payable to the applicable Subcontractor or Vendor without subtraction of the required retention. 
  
 5.7 Substantial Completion Payments. 
  
 5.7.1 Payment by Owner of the first half of the
Retention withheld with respect to Original Project Work upon Original Project Substantial Completion shall be in consideration of Contractor’s unconditional covenant and agreement to complete all final Original Project Punch List Items. At
Owner’s option, upon Original Project Substantial Completion, Owner may elect to release any Retention withheld with respect to Original Project Work then being held by Owner, less a sum equal to one hundred percent (100%) of the costs
reasonably estimated by Owner to be necessary to complete any such Original Project Punch List Items, which sum shall be retained by Owner until such Original Project Punch List Items are completed. Thereafter, Owner shall pay to the Contractor
monthly the amounts retained for such Original Project Punch List Items to the extent that each Original Project Punch List Item is satisfactorily completed by Contractor and accepted by Owner. It shall be a condition precedent to payment to
Contractor of the first half of the Retention withheld with respect to Original Project Work related to Original Project Substantial Completion that Contractor obtain and deliver to Owner all certificates of occupancy (or any other equivalent
permits required for occupancy and use) as may be required by Owner. Contractor shall obtain all such certificates of occupancy and other permits as soon as practicable after they are first available to be obtained (unless due to the fault of Owner
such certificates are not obtainable). 
  
 5.7.2 Payment by Owner of the first half of the Retention withheld with respect to Expansion Project Work upon Expansion Project Substantial Completion shall be in consideration of Contractor’s unconditional covenant and
agreement to complete all final Expansion Project Punch List Items. At Owner’s option, upon Expansion Project Substantial Completion, Owner may elect to release any Retention withheld with respect to Expansion Project Work then being held by
Owner, less a sum equal to one hundred percent (100%) of the costs reasonably estimated by Owner to be necessary to complete any such Expansion Project Punch List Items, which sum shall be retained by Owner until such Expansion Project Punch
List Items are completed. Thereafter, Owner shall pay to the Contractor monthly the amounts retained for such Expansion Project Punch List Items to the extent that each Expansion Project Punch List Item is satisfactorily completed by Contractor and
accepted by Owner. It shall be a condition precedent to payment to Contractor of the first half of the Retention withheld with respect to Expansion Project Work related to Expansion Project Substantial Completion that Contractor obtain and deliver
to Owner all certificates of occupancy (or any other equivalent permits required for occupancy and use) as may be required by Owner. Contractor shall obtain all such certificates of occupancy and other permits as soon as practicable after they are
first available to be obtained (unless due to the fault of Owner such certificates are not obtainable). 
  

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 5.8 Final Payment. Contractor’s “Applications For Final Payment” shall be
submitted in accordance with the following: 
  
 5.8.1 “Original Project Final Payment” means the payment to Contractor of all amounts due and owing and remaining to be paid to Contractor under the Contract Documents with respect to Original Project Work, including
any Retention, based on Contractor’s Application for Original Project Final Payment and Owner’s Original Project Certificate of Final Completion. Original Project Final Payment shall not be due, and Contractor’s Application for
Original Project Final Payment shall not be considered, until (i) the Contractor completes all of the Original Project Work in accordance with the Contract Documents, including the requirements set forth in this Section 5.8.1 and
the prerequisites for a Original Project Certificate of Final Completion set forth in Section 12.2 of this Agreement, and (ii) the first (1st) anniversary of the date of Original Project Substantial Completion has occurred. 
  
 5.8.2 “Expansion Project Final Payment” means the payment to Contractor of all amounts due and owing and remaining
to be paid to Contractor under the Contract Documents with respect to Expansion Project Work, including any Retention, based on Contractor’s Application for Expansion Project Final Payment and Owner’s Certificate of Expansion Project Final
Completion. Expansion Project Final Payment shall not be due, and Contractor’s Application for Expansion Project Final Payment shall not be considered, until (i) the Contractor completes all of the Expansion Project Work in accordance with
the Contract Documents, including the requirements set forth in this Section 5.8.2 and the prerequisites for a Certificate of Expansion Project Final Completion set forth in Section 12.2 of this Agreement, and (ii) the
first (1st) anniversary of the date of Expansion Project Substantial Completion has occurred. 
  
 5.8.3 It shall be a condition to each of Original
Project Final Payment and Expansion Project Final Payment that Contractor deliver to Owner the following: 
  
 5.8.3.1 A certificate that all payrolls (including all union dues, health, welfare, pension plan and other labor associated
contributions), invoices for all labor, materials and equipment and all other indebtedness connected with the Original Project Work or Expansion Project Work (as applicable) for which Owner or its property might in any way be responsible, and for
which Owner has paid the Contractor, have been paid or otherwise satisfied. 
  
 5.8.3.2 Final Waivers in a form acceptable to Owner from Contractor and all Subcontractors and Vendors and all other persons providing any services, labor, materials or equipment in relation to the Original
Project Work or Expansion Project Work (as applicable), including certified copies of waivers of all lien rights exercised during the course of the Original Project Work or Expansion Project Work (as applicable) and not previously provided to Owner,
and no lien rights have been exercised, or other claims or encumbrances have been filed or are outstanding, with respect to the whole or any part of or 

  

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interest in either the Site or the Original Project Work or Expansion Project Work (as applicable). 
  
 5.8.3.3 A certificate that Contractor has timely paid
all applicable Taxes due and payable prior to Original Project Final Payment or Expansion Project Final Completion (as applicable) and arising out of the Original Project Work or Expansion Project Work (as applicable) in a form satisfactory to
Owner. 
  
 5.8.3.4 An accounting of the
credits due to Owner for the value of any excess items paid for by Owner and a complete detailed statement of the Cost of the Original Project Work or Expansion Project Work (as applicable) showing, without limitation, all expenditures for which tax
credits or deductions may be allowed (if applicable). 
  
 5.8.3.5 Any documents, instruments, releases, certificates and indemnitees reasonably required and that Contractor is able to obtain using its best efforts in order to establish that no mechanics or materialmen’s lien rights
have been exercised, that all Lender Liens are of first priority (including prior to any other liens or lien rights) as it relates to Contractor’s obligations under the Contract, and that there are no encroachments or violations of any
covenants, conditions or restrictions affecting the Site. 
  
 5.8.3.6 If required by Owner or Owner’s Lenders, other data establishing payment or satisfaction of obligations, such as receipts, releases and waivers of liens, claims, security interests or encumbrances
arising out of the Contract, the Original Project Work or the Expansion Project Work which may then or in the future affect Owner, Owner’s property, the Original Project, the Expansion Project or the Site, and to the extent and in such form as
may reasonably be designated by Owner or Owner’s Lenders. If a Subcontractor or Vendor refuses to furnish a release or waiver required by Owner, Contractor shall within such time as set forth in Section 7.19 hereof furnish a bond
satisfactory to Owner to indemnify Owner against such lien and cause it to be paid and released; if such lien remains unsatisfied after payments are made, Contractor shall immediately refund to Owner and indemnify Owner against all money that Owner
may be compelled to pay in releasing Owner, Owner’s property, the Original Project, the Expansion Project or the Site from such lien, including all costs and reasonable attorneys’ fees. 
  
 5.8.3.7 Such other certificates and instruments
relating to the Original Project Work or Expansion Project Work (as applicable) as Owner’s Lenders may reasonably require. 
  
 5.8.4 Owner will have no obligation to make either of the Original Project Final Payment or the Expansion Project Final Payment as
long as any unresolved mechanic’s liens or claims exist relating to Owner, Owner’s property, the Site, the Original Project and/or the Expansion Project, regardless of whether such liens are exercised or claims are made by Contractor, any
Subcontractor or Vendor or any other party relating to the Work; 

  

 50 

 
unless and until Contractor releases or causes the release of Owner, Owner’s property, the Site, the Original Project or the Expansion Project, as
applicable, from such liens and claims or, as directed by Owner, Contractor provides Owner and Owner’s Lenders with indemnitees acceptable to Owner and Owner’s Lenders and/or bonds around any mechanic’s lien or claim in a manner
acceptable to Owner and Owner’s Lenders, all in accordance with Section 7.19 hereof. 
  
 5.8.5 The Applications For Final Payment shall include a statement of all unresolved Claims (and for which payment has been and/or
shall be withheld by Owner). Contractor shall separately list by Claim number the specific dollar amounts which have previously been submitted as Claims by Contractor in good faith and in full compliance by Contractor with this Agreement.

  
 5.8.6 Except for such unresolved
Claims stated in specific dollar amounts which have been previously filed by Contractor in good faith and in full compliance with this Agreement, the submittal by Contractor of an Application For Final Payment shall constitute a final and
irrevocable release and waiver by Contractor of any and all other Claims and causes of action for additional costs allowable under the Contract Documents with respect to Original Project Work or Expansion Project Work (as applicable). This release
and waiver shall include, without limitation, any and all claims for amounts in addition to the specific dollar amounts relating to the unresolved Claims so identified by Contractor, and all other Claims or potential claims of Subcontractors and
Vendors arising out of this Contract, whether or not any such Claims or potential Claims arise in contract or in tort or were known or unknown at the time of submittal of an Application For Final Payment. Contractor shall evidence such release and
waiver by delivering a fully executed release and waiver with respect to the Original Project Work and the Expansion Project Work, as applicable, in the form attached hereto as Exhibit J. 
  
 5.8.7 Upon Owner’s concurrence that all
conditions listed in Section 12.2 of this Agreement with respect to the Original Project Work or the Expansion Project Work have been fulfilled and that the balance set forth in the relevant Application For Final Payment is due and
payable, and subject to the approval of Owner’s Lenders, Owner shall make the Original Project Final Payment or Expansion Project Final Payment (as applicable) to Contractor in accordance with this Agreement. 
  
 5.8.8 Original Project Final Payment or Expansion
Project Final Payment (as applicable) shall not relieve Contractor of any warranty obligations (including, but not limited to, warranty obligations contained in the Contract Documents or at law). 
  
 5.9 Disputed Payments. When the reason(s) for withholding a particular
payment are removed to Owner’s reasonable satisfaction, Owner will pay such previously withheld amounts for such matters (less amounts properly withheld or retained) with the next regularly scheduled payment. In the event of a dispute with
respect to amounts payable under an Application for Progress Payment, the Original Project Final Payment or the 

  

 51 

 
Expansion Project Final Payment, Owner shall pay all undisputed amounts. If Contractor disputes any determination by Owner with regard to any Application for
Progress Payment or any withheld amounts, Contractor shall nevertheless expeditiously continue to execute the Work. Any amounts in dispute and withheld by Owner shall be promptly paid after the earlier of: (a) settlement of the dispute by
execution of a final Change Order document; or (b) final resolution of the dispute pursuant to Section 22.1 of this Agreement. The payment of any undisputed amounts shall not waive or otherwise limit Owner’s rights as set forth
in this Agreement, including, but not limited to, in Article 19 below. 
  
 5.10 Ownership of Materials. All material and work covered by progress payments made shall upon such payment become the sole property of Owner, however the Contractor shall not be relieved from the risk of loss
and responsibility for all material and Work upon which payments have been made or the restoration of any damaged Work. Contractor represents and warrants to Owner that (i) title to all of the Work, materials and equipment covered by any
Application for Progress Payment will pass to Owner upon the earlier of incorporation in the Work or receipt of payment by Contractor, and such title shall be free and clear of all liens, claims, security interests or encumbrances; (ii) the
vesting of such title shall not impose any obligations on Owner or relieve Contractor of any of its obligations under the Contract Documents; (iii) Contractor shall remain responsible for damage to or loss of the Work, whether completed or
under construction, except for Excepted Risks, until responsibility for the Work has been accepted by Owner in the manner set forth in Article 12 of this Agreement; and (iv) no Work covered by an Application for Progress Payment and no
material or equipment incorporated in the Work will have been acquired or incorporated into the Work, subject to an agreement under which an interest in the Work or an encumbrance on the Work is retained by the seller or otherwise imposed by
Contractor or any other person. “Excepted Risks” means all events listed in Section 11.4 as events of Force Majeure, except to the extent that any damage to or loss of the Work is caused by Contractor’s failure to
comply with the provisions of Section 7.2.7. 
  
 5.11 Deposits and Advance Payments. If any deposits or advance payments are required in connection with the execution of the Work, such deposits or advance payments will be specifically identified by category and credited against
amounts as billed in that category. Contractor shall provide Owner with a monthly statement of the total amount of all such deposits and advance payments then outstanding. In addition, Contractor will, promptly upon written request from Owner,
account for any and all funds theretofore received by Contractor from Owner. Contractor agrees to arrange to purchase such materials or equipment in advance of the time for installation in the Project as are deemed advisable by Owner or Contractor,
provided such purchases in excess of US$25,000 are approved by Owner and Owner’s Lenders. Upon Owner’s request, Contractor shall provide Owner with an assignment of Contractor’s rights relating to such deposit made and agreement for
purchase of such item. 
  
 5.12 Waiver. Any waiver by Owner
of the requirement that Contractor provide lien waivers with respect to any Application for Progress Payment, the Application for 

  

 52 

 
Original Project Final Payment or the Application for Expansion Project Final Payment shall not constitute a waiver of the obligation of Contractor to remove
or satisfy any and all liens exercised against Owner, Owner’s property, the Site, the Original Project or the Expansion Project, which obligation shall at all times remain the responsibility of Contractor hereunder. Owner’s allowance or
payment of any item pursuant to any Application for Progress Payment or otherwise shall not constitute approval of the Work or the Application for Progress Payment, or result in Owner’s waiver of any claims, all of Owner’s rights being
specifically reserved, and no such payments shall operate as an admission on the part of Owner as to the propriety or accuracy of any amounts on such Application for Progress, Original Project Final Payment or Expansion Project Final Payment. A
progress payment or partial or entire use or occupancy of the Original Project or the Expansion Project by Owner shall not constitute acceptance of Work not in accordance with the Contract Documents. Owner shall not be bound by any entries in
previous Applications for Progress Payment and shall be permitted to make corrections for errors therein. Owner’s final Original Project Contractor’s Fee installment payment, final Expansion Project Contractor’s Fee installment
payment, Original Project Final Payment and Expansion Project Final Payment shall in no way relieve Contractor of any obligations or responsibilities under the Contract Documents which extend beyond the date of such payment. 
  
 5.13 Materials Off-Site. Subject to Section 5.11 and
except as otherwise approved by Owner pursuant to Article 9, all materials which are the subject of an Application for Progress Payment (or an application for Original Project Final Payment or Expansion Project Final Payment, if applicable)
shall be stored at all times at the Project, in a bonded warehouse or such other secured facility satisfactory to Owner and Owner’s Lenders, or at the premises of the manufacturer or fabricator (in which event the materials shall be
appropriately marked and identified with the applicable purchase contract and physically segregated in an area with access to a public street), until the materials are incorporated into the Project; provided that if the materials are stored with the
manufacturer or fabricator, Owner must receive evidence satisfactory to Owner of the creditworthiness of the manufacturer or fabricator and/or Contractor shall procure and deliver or cause to be procured and delivered to Owner such dual obligee
performance and labor and material payment bond or bonds, in form, substance and amount satisfactory to Owner and Owner’s Lenders, as Owner and Owner’s Lenders may require. All materials that are stored off-Site shall be marked and
identified as the property of Owner, and Owner shall have the right to access all materials stored off-Site and to remove them from such off-Site location(s). Furthermore, Contractor shall: 
  
 5.13.1.1 use the materials only for construction of
the Project, and not make any transfer thereof or permit any lien to attach thereto which could materially impair the ability of Owner to use the materials for such purpose; 
  
 5.13.1.2 take or cause to be taken all actions necessary to insure, maintain, preserve and protect
the materials and keep them in good condition and repair, and 

  

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to comply with all laws, regulations and ordinances relating to the ownership, storage or use of the materials; 
  
 5.13.1.3 cause to be delivered to Owner any
applicable bailee waivers where such bailee rights exists, and the original warehouse receipt covering any stored materials, and ensure that such stored materials have been stored in such a way as to eliminate the possibility that they will be
commingled with other materials or projects; and 
  
 5.13.1.4 if Contractor shall fail to perform any of its obligations under this Section 5.13 after Owner has made payment to Contractor for the materials, Owner or Owner’s Lender may, but shall not be obligated to,
take such actions and expend such sums as either may deem necessary to protect and preserve Owner’s and/or Owner’s Lenders’ security interest in such materials, and all such expenditures so incurred (including, but not limited to,
attorneys’ fees and disbursements) shall be reimbursed by Contractor promptly on demand and shall be Non-Allowable Costs of the Work. 
  
 ARTICLE VI. 
 OWNER’S
RESPONSIBILITIES 
  
 6.1 Information and Services.
Owner shall, at such times as are reasonably required for the successful and expeditious completion of the Work, provide Contractor with the following information and services at Owner’s expense and/or perform the following obligations:

  
 6.1.1 Purchase and deliver to
Contractor in accordance with the Original Project Schedule and the Expansion Project Schedule (as applicable), the material and equipment to be provided by Owner for installation by the Contractor, if any; 
  
 6.1.2 Pay any real property taxes assessed against
the Work, to the extent applicable (Owner acknowledging that such taxes shall not be included in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price); 
  
 6.1.3 Prepare the Owner’s Design or cause the
Owner’s Design to be prepared in accordance with the Original Project Schedule and Expansion Project Schedule (as applicable) in order not to delay the execution of the Work, provided that Contractor agrees to use all reasonable efforts to
mitigate the effect of any delay in the performance of the Owner’s Design (provided, however, that the foregoing shall in no way alter the definition of what constitutes an Owner Delay or the application of the provisions of this Agreement
relating to any Owner Delay); 
  
 6.1.4
Generally perform in a timely manner all of Owner’s obligations under the Contract Documents; 
  
 6.1.5 Prior to the Original Project Date of Commencement, obtain all licenses, approvals, consents, permits and authorizations
required to be obtained by Owner 

  

 54 

 
under the Contract Documents to allow the commencement of the Original Project Work, all of which Contractor acknowledges that, to the best of its knowledge,
have been obtained; provided, however, that upon Owner’s request, Contractor shall use commercially reasonable efforts to assist Owner in obtaining any remaining licenses, approvals, consents, permits and authorizations necessary for the
orderly prosecution of the Original Project Work; 
  
 6.1.6 Prior to the Expansion Project Date of Commencement, obtain all licenses, approvals, consents, permits and authorizations required to be obtained by Owner under the Contract Documents to allow the commencement of the Expansion
Project Work; provided, however, that upon Owner’s request, Contractor shall use commercially reasonable efforts to assist Owner in obtaining all licenses, approvals, consents, permits and authorizations necessary for the orderly prosecution of
the Expansion Project Work; and 
  
 6.1.7
Include in all subcontracts, purchase orders and other agreements entered into with any of Owner’s Contractors or Owner’s Consultants a requirement that such Owner’s Contractor or Owner’s Consultant must comply with the direction
of Contractor in connection with the execution of the Work. 
  
 6.2 Limitations. Information on the Site and local conditions affecting the Site and any and all other information, reports, studies, surveys and materials provided by, or on behalf of, Owner is furnished solely for the convenience
of Contractor only, and without any representation, warranty or guarantee of accuracy, adequacy, correctness or completeness by Owner and Owner hereby disclaims all such warranties, guarantees and representations. Except to the extent set forth in
Article 13 below, and except to the extent the information and materials supplied by Owner contain inaccurate information that was not known to Contractor to be inaccurate (and such inaccuracy would not have been reasonably discovered by
Contractor in the exercise and/or performance of its obligations under the Contract Documents), Contractor assumes the risk of such conditions and shall fully complete the Work without an increase in the Expansion Project Guaranteed Maximum Price or
the Original Project Guaranteed Maximum Price (as applicable) and within the applicable Contract Time (subject to Contractor’s right to use the Original Project Construction Contingency and the Expansion Project Construction Contingency (as
applicable) as provided in Section 3.1.8 hereof, to the extent there remain funds therein). 
  
 6.3 Owner’s Representative. Owner has designated Todd Nisbet and Gary Chin, each as “Owner’s Representative” to be
Owner’s authorized representative (each acting alone) to provide approvals and directives necessary for the day-to-day administration of the Project, including the Work. Each Owner’s Representative shall have the authority to bind the
Owner and the decision of any Owner’s Representative shall be binding on the Owner. Contractor acknowledges and confirms that no apparent authority, agency or similar claims may be made by Contractor with respect to any approval, authorization,
order or decision given or made from and after the execution date of this Agreement by any purported representative or employee of Owner other than any of Owner’s Representatives in writing 

  

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(or such other individual authorized in writing by Owner), and all such claims are hereby waived by Contractor. 
  
 6.4 Site Access. Owner, Owner’s Lenders, Owner’s
Lenders’ technical advisor, Owner’s Consultants, Owner’s Contractors, Macau SAR representatives and any party designated by Owner shall at all times have, and Contractor shall provide, complete and unfettered access to the Site and
the Work in progress and preparation wherever located at all times for any and all purposes as Owner and/or Owner’s Lenders may desire or as may be required under the Gaming Concession Agreement. Visits to the Site or observations of the Work
by Owner, Owner’s Consultants, Owner’s Contractors, Macau SAR representatives, any party designated by Owner, Owner’s representatives or contractors, or Owner’s Lenders or Owner’s Lenders’ technical advisor shall in no
way relieve Contractor from its obligations to carry out the Work in accordance with the Contract Documents. Subject to the terms of the Contract Documents, Owner shall, and shall require Owner’s Consultants and Owner’s Contractors to,
work without causing labor disharmony, coordination difficulties, delays, disruptions or interferences with Contractor, Subcontractors and Vendors. 
  
 6.5 Payments. Owner shall timely make payment to Contractor of amounts properly due to Contractor under and subject to (including Owner’s
right to offset and withhold as provided in) the Contract Documents. 
  
 6.6 Proof of Funding. Upon Contractor’s request, and subject to availability to Owner and the rights of the Owner’s Lenders, Owner will provide to Contractor a copy of the loan commitment and loan common terms agreement
between Owner and Owner’s Lenders relating to the provision and disbursement of funds to Owner for its obligations under this Contract (excluding therefrom information deemed proprietary or confidential by Owner or Owner’s Lenders).

  
 6.7 Good Faith. Owner shall use good faith in
performing its obligations under the Contract Documents, and, in addition to any specific obligations of Owner hereunder in this respect, it is agreed that Owner shall not unreasonably delay its review of and/or response to matters requiring
Owner’s review and/or response under the Contract Documents. 
  
 ARTICLE VII. 
 CONTRACTOR’S RESPONSIBILITIES 
  
 7.1 Contractor’s Specific Representations, Warranties and Covenants. By entering into this Contract, Contractor
undertakes to furnish its best skill and judgment and to cooperate with Owner in furthering the best interests of Owner, the Work and the Project, and shall use good faith in performing its obligations under the Contract Documents. By entering into
this Contract, Owner is relying upon the specific undertakings, representations and warranties of Leighton, China/HK and China/Macau in favor of Owner as follows, and 

  

 56 

 
Leighton, China/HK and China/Macau each hereby represents, warrants and covenants to Owner that: 
  
 7.1.1 As of the Original Project Date of Commencement
and the Expansion Project Date of Commencement, Contractor shall be duly authorized and shall have the necessary license(s), approvals, consents, permits and other authorizations to practice and perform all Work in this jurisdiction, and Contractor
shall remain so licensed at all times relevant to the Work. Contractor shall ensure that all Subcontractors are duly authorized and have the necessary license(s), approvals, consents, permits and other authorizations to practice and perform all Work
to be performed by such Subcontractors in this jurisdiction and will remain so licensed at all times relevant to the Work. Contractor shall produce such license(s), approvals, consents, permits and other authorizations to the Owner upon request, and
Contractor shall be responsible to obtain copies of such license(s) from all Subcontractors prior to allowing them to perform Work on Site. Contractor has substantial experience in performing major projects with scopes of work similar to the Work
defined herein, is familiar with the activities of the governmental bodies having authority over the Project and has expertise and experience managing Subcontractors on projects of similar scope within the region. Contractor also represents that
such experience includes performing major projects with stringent time constraints and where construction begins before all drawings and specifications have been issued for construction purposes, as is the case with the Work and Project. The
standard by which Contractor shall be judged in its performance of this Agreement and its exercise of judgment hereunder shall be that of a contractor with the level of skill, experience and expertise necessary for the planning and construction of a
“five-star” first class international luxury resort and casino, including the foregoing qualifications and consistent with such other Contractor representations, warranties and covenants contained in the Contract Documents. 
  
 7.1.2 All of Contractor’s management involved
with the Project and key supervisory personnel shall speak fluent English and shall remain committed to and available for full-time assignments (except when on leave approved in advance by Owner) devoted to the Work until at least sixty
(60) days after the later of Expansion Project Substantial Completion and Original Project Substantial Completion. If Owner is dissatisfied with the services rendered by any of such persons, then upon Owner’s written request, Contractor
shall promptly substitute a person who is fluent in English of at least equal qualifications to perform the same function. Owner shall include in its written request Owner’s reasons for requiring such removal and substitution. If any of such
persons or any replacements thereof under the preceding sentence are no longer employed by Contractor, then Contractor shall promptly substitute a person who is fluent in English of at least equal qualifications to perform the same function and
notify Owner of the name of the substitute and his or her qualifications. Owner shall retain the right to approve all key personnel of Contractor involved in the Project. The individuals who shall be responsible on behalf of Contractor for
supervising the Work are set forth on Contractor’s Personnel list attached as Exhibit C to this Agreement. Except for reasons beyond its control, Contractor shall not change any of the individuals designated in said Exhibit C
during the term of the Agreement 

  

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without the prior approval or specific direction of Owner, which approval shall not be unreasonably withheld or delayed. At least one Project Superintendent
or Project Manager shall be at the Site on a full-time basis and at all times while any Work is being performed. In no event shall Mr. Michael Derrington Harvey be removed as a Contractor’s Representative from the Project (other than due
to death, serious illness or incapacity), or be transferred to a different position with respect to the Project, without Owner’s prior written consent, which Owner may withhold in its sole discretion. 
  
 7.1.3 Contractor has examined and will continue to
examine all Contract Documents provided by Owner pertaining to the Work and the Site. Contractor fully accepts the lack of completeness of such documents. Contractor also represents that the Original Project Guaranteed Maximum Price Premises and
Assumptions and the Expansion Project Guaranteed Maximum Price Premises and Assumptions were sufficiently detailed and comprehensive to enable Contractor to have reliably estimated and established each of the Original Project Guaranteed Maximum
Price and the Expansion Project Guaranteed Maximum Price set forth in Article 3 of this Agreement. Subject to the provisions of this Agreement, Contractor further agrees that all Work shall be performed within the Original Project Guaranteed
Maximum Price and the Expansion Project Guaranteed Maximum Price and within the applicable Contract Time set forth in Article 4 of this Agreement, notwithstanding that the Contract Documents, including the Drawings and Specifications, are not
complete in every detail and are still being developed. 
  
 7.1.4 Contractor has had ample time to and has visited and examined the Site and has reviewed the physical conditions affecting the Work, and will continue to do all of the foregoing, and, subject to the
provisions of Article 13 hereof, is familiar with all of the conditions on, under, and affecting the Site, as Contractor deemed necessary or desirable based on Contractor’s skill, experience and knowledge and the scope of the Work and
terms of the Contract Documents. Furthermore, Contractor has satisfied itself as to the nature and location of the Work, the general and local conditions, and traffic, particularly those bearing upon transportation, handling, and storage of
materials, availability of labor, water, power, roads, weather, above-ground and sub-surface conditions at the Site and all other matters which can affect the Work or the cost thereof. Contractor has verified field conditions, and carefully and
fully compared such field conditions, Site observations and other information known to Contractor with the Contract Documents (including the requirements thereof) and has not found any omissions, errors or discrepancies and has satisfied and will
continue to satisfy itself as to: (a) access thereto; (b) the location of all utility pipelines and wiring conduits which can be ascertained through Site visits or by any documents which are provided by Owner; (c) the type of
equipment and facilities needed before and during prosecution of the Work; (d) the general and local labor and weather conditions and availability of materials and equipment under which the Work is to be performed; (e) the presence of
construction hazards, if any; (f) the nature, location, and character of the Work and the Site, including, but not limited to, all improvements and obstructions on and under the Site, both natural and man-made, and coordination of the execution
and completion of all phases of the Original Project and Expansion Project; and (g) all other matters which may 

  

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affect the Contractor’s means, methods, techniques and procedures necessary to construct the Work in strict accordance with the Contract Documents and
otherwise fulfill its obligations under the Contract Documents, including but not limited to its obligation to complete the Work for an amount not in excess of the Original Project Guaranteed Maximum Price and the Expansion Project Guaranteed
Maximum Price on or before the applicable Contract Time. Any condition at the Site, whether or not consistent with conditions shown or called for on the Contract Documents, shall not be allowed as a basis for claims for increase of the Original
Project Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum Price or extensions of the applicable Contract Time, except as otherwise specifically provided for in Article 13 below or otherwise in this Agreement,
notwithstanding any statements or representations by Owner or any party on behalf of Owner, oral or written, with respect to the conditions of the Site or improvements thereon, or regarding the completeness, correctness, or adequacy of any Contract
Documents (provided that such statements or representations were made in good faith). 
  
 7.1.5 Prior to commencing its procurement and construction activities, Contractor shall further verify at the Site all measurements
and levels necessary for proper construction of the Work, including the fabrication, assembly and installation of materials and equipment to be incorporated into the Work and shall further carefully compare such verified field measurements and
conditions with the requirements of the Contract Documents. 
  
 7.1.6 If the Contractor observes any failure of the Contract Documents to conform with applicable Laws, Contractor shall immediately notify Owner in writing and identify any such discrepancies and shall be
responsible for rectifying the Contract Documents so that they shall conform with all applicable Laws. Subject to Section 7.2, if the Contractor performs Work that it knows or reasonably should have known to be in non-compliance with
applicable Laws, the Contractor shall assume full responsibility for such Work and shall bear all costs (including loss and damage due to delays) of correction, repair and replacement attributable thereto as Non-Allowable Costs of the Work.

  
 7.1.7 If Contractor discovers or
otherwise becomes aware of any errors, discrepancies, omissions, duplications or conflicts in the Contract Documents at any time during the course of the Work, Contractor shall immediately notify Owner in writing and shall be responsible for
rectifying the same. If the Contractor performs any Work relating to any such errors, discrepancies, omissions, duplications or conflicts in the Contract Documents, neither the Original Project Guaranteed Maximum Price nor Expansion Project
Guaranteed Maximum Price shall be increased. Contractor shall continue being paid for the Cost of the Work (but shall not be entitled to payment and/or reimbursement with respect to Non-Allowable Costs of the Work), all in accordance with the terms
of this Agreement. 
  
 7.1.8 Contractor
will not use the Site for any purpose other than the performance of the Work. Contractor will not engage in, nor commit its personnel to engage in, any other projects while performing Work on the Project to any extent that such other 

  

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projects may materially and adversely affect the quality or efficiency of the Work required to be performed by Contractor in connection with this Project or
which will otherwise be detrimental to the carrying on and completion of this Project. 
  
 7.1.9 Contractor acknowledges (a) that the Project involves the construction of a “five-star” first class Las
Vegas-style luxury resort and casino in accordance with the Original Project Guaranteed Maximum Price Premises and Assumptions, the Expansion Project Guaranteed Maximum Price Premises and Assumptions and the Contract Documents, (b) that the
Contract Price reflects a premium in the amount Contractor (or a third party contractor with similar experience, skill and reputation as Contractor) would charge for the construction of the Work, and (c) that such premium is a direct reflection
of Owner’s stringent requirements and high expectations for the quality of the Work. Contractor agrees that it will utilize the highest level of care and diligence in carrying out its obligations hereunder. 
  
 7.1.10 Gaming Concession Agreement. Contractor has
been provided with a copy of the Gaming Concession Agreement and (a) has reviewed the provisions thereof, (b) has familiarized itself with each of the obligations of Owner under the Gaming Concession Agreement (including, but not limited
to, Clauses 3, 4, 35, 36, 37, 40, 42, 67, 69, 79, 80, 84, 85 and 92 thereof), and (c) is aware of the consequences of Owner’s non-compliance with such obligations. Contractor hereby covenants that (i) it will comply with each of the
provisions of the Gaming Concession Agreement applicable to the Work and the duties and obligations of Contractor hereunder, and (ii) it will not, and it shall procure that the Subcontractors and Vendors to not, cause Owner to breach
Owner’s obligations under the Gaming Concession Agreement. In furtherance of the foregoing, if Contractor becomes aware of any action or omission by any Subcontractor or Vendor that could reasonably be expected to result in a breach by Owner of
Owner’s obligations under the Gaming Concession Agreement, Contractor shall immediately notify Owner thereof and immediately terminate such Subcontractor or Vendor. Without limiting the foregoing provisions of this Section 7.1.10,
Contractor acknowledges that pursuant to Clause 37 of the Gaming Concession Agreement, the Macau SAR may suspend construction of the Project if it determines that the construction plans are not adequately implemented. 
  
 7.1.11 Land Concession Agreement. Contractor
understands that the Land Concession Agreement entered into by Owner contains various obligations on the part of Owner with respect to the use of the Site. Owner has provided a copy of the Land Concession Agreement to Contractor. Contractor hereby
covenants that it shall comply with each of the following requirements set forth below in this Section 7.1.11 (it being acknowledged and agreed by Contractor that such requirements represent excerpts of certain of Owner’s obligations under
the Land Concession Agreement): 
  
 7.1.11.1 Contractor shall not, and shall not permit any of its subcontractors (of any tier) to, remove or allow the removal from the Site of any materials such as land, rocks, fill, sand or other similar materials (collectively
referred to as “Fill Materials”) without the prior written consent of Owner. Contractor recognizes that such 

  

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prior written consent may be subject to Owner’s obtaining prior written consent from the Macau SAR under the Land Concession Agreement, and that Owner
cannot ensure the timing or approval of such consent from the Macau SAR. Any such removal of any Fill Materials from the Site without Owner’s prior written consent shall constitute a breach hereunder. Contractor shall cause any Fill Materials
removed from the Site to be deposited in such location as may be specified by the Macau SAR. 
  
 7.1.11.2 Contractor will take necessary and appropriate measures to ensure that no Fill Materials are removed from the Site by
others (including without limitation by providing adequate 24 hour security at the Site, and ensuring that trucks and other vehicles are inspected prior to their exit from the Site). 
  
 7.1.11.3 Contractor shall provide adequate training and instructions to all Persons who enter the
Site so that all such Persons are made aware of the restriction against removal of Fill Materials described herein. The Contractor shall post appropriate signage in and around the Site advising of the restriction. 
  
 7.1.11.4 Contractor shall inform its Subcontractors
about the restriction on removal of Fill Materials, and shall (unless otherwise agreed by Owner) include in every subcontract similar provisions to those provided herein regarding the restriction on removal of Fill Materials and the other
precautionary and remedial measures set out herein. 
  
 7.1.11.5 Owner shall have the right to require the immediate removal or dismissal of any employee or agent of Contractor or any Subcontractor who Owner believes has violated the restrictions against removal of Fill Materials set
forth herein, including the right to remove or dismiss any supervisory personnel and others who permitted, or failed to prevent, the removal of Fill Materials as provided herein. 
  
 7.2 Further Covenants. Contractor covenants and agrees that all Work performed by Contractor or any Subcontractor or
Vendor shall be carried out: (a) with a proper supply of skilled labor, materials and equipment; (b) in full compliance with the requirements contained in, indicated on and reasonably inferable from the Contract Documents given
Contractor’s status as a contractor experienced with construction projects similar in size, quality and complexity to the Work, (c) in full compliance with all applicable laws, consents, ordinances, mitigation measures, codes, rules,
directives, orders, permits, approvals, entitlements, statutes, and regulations, whether governmental or public administrative (including, but not limited to, all applicable Laws of Macau relating to noise control and pollution) (collectively,
“Laws”); (d) diligently and in the best manner to assure completion on or before the respective Original Project Interim Milestone Dates, the Expansion Project Interim Milestone Dates, the Guaranteed Date of Original Project
Substantial Completion and the Guaranteed Date of Expansion Project Substantial Completion, (e) by qualified design professionals where applicable, and (f) in full compliance with the terms of insurance applicable to the Work. Contractor
shall be 

  

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responsible for ensuring that the Drawings and Specifications (including, but not limited to, the construction documents prepared by Owner’s
Consultants) conform to Laws applicable to the design aspects of the Drawings or Specifications. Applicable Laws shall supersede the Contract Documents if there is any conflict; provided, however, that if any applicable Laws shall necessitate a
Change to or deviation from the Contract Documents, Contractor shall obtain Owner’s written consent prior to implementing that Change. Contractor shall be responsible for failing to report any discrepancy between the Contract Documents and
applicable Laws of which Contractor knows or should have reasonably known in the exercise of due diligence and prudent judgment and consistent with the terms of the Contract Documents. If Contractor performs any part of the Work in violation of any
such applicable Laws, Contractor shall bear the costs of remedying such Work so as to be in compliance with such Laws, the Original Project Guaranteed Maximum Price and the Expansion Project Guaranteed Maximum Price shall not be adjusted and
Contractor shall not have the right to use the Original Project Construction Contingency or the Expansion Project Construction Contingency to pay the costs arising therefrom. If any new Law is enacted or any change to existing Law applicable to the
Work occurs after the Effective Date, and to the extent that such new Law or change in Law has an impact on the Work and/or the cost of performing the Work, Contractor shall (i) subject to consultation with and the written approval of Owner,
perform and construct the Work in accordance with such applicable Law, and (ii) such impact shall constitute a Change and the provisions of Article 18 shall apply (including with respect to the determination of any adjustment to the
Guaranteed Maximum Price and/or the Contract Time). In fulfilling its responsibilities under the Contract Documents, Contractor shall furnish, coordinate, manage and pay for all services and personnel, labor, machinery, tools, materials and
equipment, necessary to: 
  
 7.2.1 Cause
the Work to be constructed in compliance with: (a) the latest approved Drawings and Specifications for construction purposes; and (b) all applicable Laws (including all changes in Laws as provided above in this Section 7.2);

  
 7.2.2 Provide at all times until the
later of the Expansion Project Final Completion or the Original Project Final Completion a sufficient and competent organization, which shall include the skilled services of all senior managers, architects, designers, engineers, site supervisors,
qualified scheduling personnel, superintendents, foremen, engineers, skilled and unskilled craft labor and supervisors and all other personnel necessary or desirable to plan, prosecute and construct the Work in accordance with the Contract
Documents; 
  
 7.2.3 Provide the skilled
services of buyers, expediters and other personnel necessary to achieve the timely delivery and use of (a) all materials, supplies and equipment to be incorporated into the Work by Contractor, Subcontractors and Vendors, and (b) all
construction machinery and equipment, tools and expendable construction materials and supplies necessary or desirable for the Work; 
  

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 7.2.4 Prepare and provide the Original Project Schedule and the Expansion Project
Schedule and Schedule Updates for the Work in accordance with Article 11 below, or as reasonably requested by Owner’s Lenders; 
  
 7.2.5 Coordinate the schedules and operations of all Subcontractors and Vendors of every tier and cooperate with Owner,
Owner’s Consultants and Owner’s Contractors so that the Contractor’s Work and the work of others will progress smoothly with a minimum of disruptions and interference to any party; 
  
 7.2.6 Obtain and provide to Owner and pay for (as a
Cost of the Work): (a) all Work-related authorizations, building permits, licenses, consents and approvals which are required by governmental authorities to be taken out in Owner’s name for construction and completion of the Work, and
(b) all temporary and final certificates of occupancy; 
  
 7.2.7 Be responsible for protection of the Work, including all materials and equipment to be utilized during the Work, from theft or damage or other harm, whether in transit or in storage on-Site or off-Site,
until the later of the Expansion Project Final Completion or Original Project Final Completion pursuant to Section 12.2 of this Agreement, provided that Contractor shall not be responsible for damage resulting from the occurrence of
Excepted Risks so long as Contractor has used reasonable efforts to protect the Work, including said materials and equipment, from damage due to the occurrence of such Excepted Risks; 
  
 7.2.8 Promptly notify Owner in writing of any errors, omissions or discrepancies discovered by
Contractor in the Contract Documents, including any observed failures to comply with applicable Laws, and advise on how the same should be resolved and rectified; 
  
 7.2.9 Enforce strict discipline and good order among the employees of Contractor, Subcontractors and
Vendors while at the Site or otherwise performing this Contract; 
  
 7.2.10 Give all notices and secure all required certificates of inspection, testing or approval necessary or incidental to the prosecution of the Work, for delivery to Owner; 
  
 7.2.11 Be responsible for and pay (as a Cost of the
Work to the extent provided in Section 3.2.8 hereof) all Taxes relating to or arising out of the Contractor’s performance of the Work; 
  
 7.2.12 Provide Owner with the full benefit of all Vendor’s warranties applicable to all equipment and materials furnished by
the Contractor; 
  
 7.2.13 Maintain at the
Site one record copy of all Drawings, Specifications and revisions thereto, the Project Schedule, all Schedule Updates, all Change Orders and 

  

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other Modifications, approved material lists, brochures, technical data submissions and RFI’s, RFI responses, submittals, Construction Change
Directives, Samples, all correspondence and transmittals pertaining to the Work and all other records relating to the status of all Work-related materials, equipment and construction activities; 
  
 7.2.14 Provide Owner with three (3) complete
sets of operating and maintenance manuals for all equipment installed as part of the Work; 
  
 7.2.15 Provide Owner with two (2) sets each of complete as-built drawings (electronically when available and otherwise on
reproducible mylar) with respect to the Original Project Work, prior to Original Project Final Payment and with respect to the Expansion Project Work, prior to Expansion Project Final Payment; 
  
 7.2.16 Copy Owner on all correspondence, memoranda
and bulletins by Contractor to Architect/Engineer, Owner’s Consultants, Owner’s Contractors and public or governmental agencies and deliver to Owner on a current and up-to-date basis copies of all written communications received from
public or governmental agencies relating to the Work or the Project. Provide to all Subcontractors (with concurrent written notice to Owner), and cause all Subcontractors to provide, all notices required by applicable Laws relating to the Contract
and/or Work, including but not limited to notice of payments received. Copy Owner on all default, stop work or termination notices sent to or received from Subcontractors at every tier, and any others performing any Work; 
  
 7.2.17 Contractor shall maintain records, in
duplicate, of principal building layout lines, elevations of the bottom of footings, floor levels and key site elevations certified by a qualified surveyor or professional engineer to Owner’s and Owner’s Lender’s satisfaction; and

  
 7.2.18 Michael Derrington Harvey is
authorized to act on behalf of Contractor as the Contractor’s Representative with regard to the Work and Contract Documents, and is the individual with whom Owner may consult at all reasonable times, and the instructions, requests and decisions
of said individual will be binding upon Contractor as to all matters pertaining to this Contract and the performance of the parties hereunder. 
  
 7.3 Preconstruction Services. Contractor shall as a Cost of the Work furnish, coordinate, manage and pay for all services, personnel, labor,
material, equipment, machinery and tools for the Work, and shall: 
  
 7.3.1 Search for and timely recommend from time to time to Owner various value engineering and other cost savings measures during the entire progress of the Work to reduce the Cost of the Work to the fullest
extent possible while maintaining the quality required by the Contract Documents. Owner will then elect, in its sole discretion, whether or not to implement such measures in connection with the Work. 
  

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 7.3.2 Timely review designs with Owner, including, but not limited to, to the
extent applicable, architectural designs, structural, HVAC, plumbing, fire protection, power and lighting, security systems and communications, interior designs, and vertical transportation and assure compliance thereof with the Original Project
Guaranteed Maximum Price Premises and Assumptions and the Expansion Project Guaranteed Maximum Price Premises and Assumptions, and the Project requirements established pursuant to the Contract Documents. Advise on the Site use and improvements,
selection of materials, Project and Site systems and equipment, improvements to the Project and Site, call and security systems, and methods of Project delivery. Provide recommendations on relative feasibility of construction methods, availability
of materials and labor, time requirements for procurement, installation and construction, integration into existing Project and Site systems, and factors related to cost including, but not limited to, costs of alternative designs or materials,
preliminary budgets and possible economics. 
  
 7.3.3 Advise Owner in writing promptly upon discovery if, in the judgment of Contractor, the information provided on architectural or engineering documents is inadequate for the current purposes intended or if requirements of such
documents conflict with other documents issued or with existing conditions at the Site. In any such event, Contractor will issue a Request for Information (“RFI”) to the Architect/Engineer or Owner’s Consultant (with a copy to
Owner). 
  
 7.3.4 Systematically review
the Contract Documents (including, but not limited to, the documents prepared by Owner’s Consultants), as the same are being prepared and check the same for (a) obvious conflicts, discrepancies and omissions, and (b) variations from
customary construction practices and methods which, in the opinion of Contractor, may cause difficulties or occasion delay in the performance of the Work and timely advise Owner, Owner’s Consultants and Owner’s Contractors (if applicable)
and the Architect/Engineer promptly, in writing, of any such observed problems. Coordinate the Contract Documents (including, but not limited to, the documents prepared by Owner’s Consultants) by consulting with Owner, Owner’s Consultants
(if applicable) and the Architect/Engineer regarding Drawings and Specifications as they are being prepared, and recommending alternative solutions whenever design details affect construction feasibility, cost or schedule. Timely advise Owner, using
Contractor’s professional skill and judgment, regarding any missing or incomplete aspects of the Work scope. 
  
 7.3.5 Assist Owner as Owner may reasonably request in the bidding preparation process, solicitation and requests for bids, and
review of bids received for items specifically outside Contractor’s scope of Work. 
  
 7.4 Systems and Procedures. Contractor shall develop, for Owner’s review and approval, and implement a system and procedures for: 
  
 7.4.1 Reviewing its own Work and the Work of its Subcontractors and Vendors for defects and
deficiencies, including the preparation of all appropriate quality 

  

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control documentation, to assure that all such defects and deficiencies are discovered and corrected as soon as possible. Contractor represents and warrants
that Contractor is ISO certified and covenants to conform such quality control procedures to ISO standards. 
  
 7.4.2 Reviewing, processing, recording and paying Subcontractors and Vendors in a manner fully consistent with the requirements to
be fulfilled by the Contractor pursuant to Article 9 of this Agreement. 
  
 7.4.3 Preparing, reviewing and processing Change Orders in a manner that fully complies with Article 18 of this Agreement.

  
 7.4.4 Evaluating all Change Proposal
Requests and Claims submitted by Subcontractors or Vendors for compliance with the requirements of the Contract Documents, recommending resolutions and options to Owner in writing with respect to such Change Proposal Request and Claims; and
implementation of written Construction Change Directives and Change Orders issued in accordance herewith. 
  
 7.4.5 Implementing a Site access and staging plan to ensure the smooth, orderly, organized and efficient movement and staging of
Subcontractors and Vendors at the Site. 
  
 7.5 Schedule
Meetings and Records. After execution of the Agreement and prior to commencement of the Expansion Project Work, Owner shall schedule one or more meetings with Contractor for the purpose of outlining and clarifying the proposed Expansion Project
Work, security and use of the Site, potentially difficult aspects of the Work of which Owner is actually aware, interface and coordination issues between the Original Project and the Expansion Project and responding to questions of those attending.

  
 7.5.1 Contractor shall schedule and
conduct pre-construction and construction progress meetings at the Site on a regular basis (at least weekly) at which Owner, Architect/Engineer, Contractor and Subcontractors may jointly discuss such matters as Work procedures, progress, scheduling
and coordination. Owner’s Lenders, Owner’s Consultants and Owner’s Contractors may attend such meetings. Contractor shall be responsible for securing attendance of its Subcontractors, Vendors, suppliers and other personnel as are
required at such meetings. Contractor shall keep and distribute timely in advance of the next meeting minutes of such meetings, including a list of the action items, responsible parties and dates necessary to complete actions to enable the
Contractor to maintain the progress of the Work in accordance with the Original Project Schedule and the Expansion Project Schedule. 
  
 7.5.2 Contractor shall regularly monitor and provide to Owner and Owner’s Lenders written reports on a monthly basis
describing the status of the actual progress of the Work in relation to the Original Project Schedule and the Expansion Project Schedule, in accordance with Article 11 below. 
  

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 7.5.3 For purposes of Schedule Updates and requested changes in Contract Times,
Contractor shall maintain daily logs which shall be available for Owner’s and Owner’s Lenders review at any time during normal working hours, and which shall record the progress of the Work. 
  
 7.5.4 Contractor shall also provide monthly to Owner
and Owner’s Lenders, on or before the tenth (10th) day of each month, an “Anticipated Cost
Report” prepared by Contractor in substantial conformance with Owner’s standards and containing detailed information on pending Change Orders, contracts awarded and to be awarded, and similar budget related items. 
  
 7.6 Contractor’s Operations. 
  
 7.6.1 Contractor shall: (a) confine its
operations at the Site to areas designated by Owner; (b) not unreasonably encumber the Site or encumber areas in the vicinity of the Site with materials, equipment or debris; (c) coordinate its activities with the Owner’s
Representative, Owner’s Consultants and Owner’s Contractors in advance; and (d) not block or hinder parking facilities without Owner’s prior written approval. To the extent reasonably possible, Contractor shall preserve and
protect all existing vegetation on or adjacent to the Site which is not to be removed or required to be disturbed in the performance of the Work. Contractor shall be solely responsible for all costs and expenses incurred as a result of failure to
adhere to the requirement of this Section 7.6.1 (subject to Contractor’s right to use the Construction Contingency as provided in Section 3.1.8 hereof, to the extent there remain funds therein and regardless of whether
any funds remain in the Original Project Construction Contingency or the Expansion Project Construction Contingency, Contractor shall still be liable for such damages, costs and expenses). Contractor shall make itself familiar with and use all best
efforts to protect all existing improvements and/or utilities at or near the Site from damage. Contractor shall be solely responsible for repairing any such damage and for the related costs and expenses (subject to Contractor’s right to use the
Original Project Construction Contingency or the Expansion Project Construction Contingency as provided in Section 3.1.8 hereof, to the extent there remain funds therein and regardless of whether any funds remain in the Original Project
Construction Contingency or the Expansion Project Construction Contingency, Contractor shall still be liable for such damages, costs and expenses). Neither Contractor nor any Subcontractor or Vendor shall post, erect or place on the Site, the Work,
Owner’s premises or the Project any sign, banner, billboard, flag or display for marketing, advertising, promotional or other similar reasons, and no trade names or other identification shall appear on any item of the Work or at any place on
the Project where such name or identification will be seen by the general public, except as approved in writing by Owner and except as may be required by the Laws of Macau. In the performance of the Work, Contractor shall, at all times, exercise
every reasonable precaution to protect, preserve and prevent from accident, damage and injury arising out of the Work, all persons and property, including the Work and any existing structures. Contractor shall, in addition, comply with all
applicable Laws (including those on safety and health) and all requirements of the insurance carriers providing insurance for the Project. 
  

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 7.6.2 Contractor acknowledges and understands that Original Project and Expansion
Project are contiguous to and/or in some cases contained within one another. Execution of each of the Original Project Work and Expansion Project Work may affect, and be effected by, the Expansion Project Work and Original Project Work,
respectively; furthermore, upon the Original Project Substantial Completion or Expansion Work Substantial Completion, or the Original Project Final Completion or Expansion Project Final Completion, Contractor’s preferred access to certain
portions of the uncompleted Project will be subject to additional restrictions and rules required by Owner in furtherance of Owner’s intent to open portions of the Site (such as the Original Project Casino) to the public as soon as practicable
consistent with the terms of this Agreement, all as set forth in the Original Project Guaranteed Maximum Price Premises and Assumptions or the Expansion Project Guaranteed Maximum Price Premises and Assumptions (as applicable). Contractor and Owner
agree that at the meetings contemplated in Section 7.5 either party may also address the scheduling and coordination of the Original Project Work and Expansion Project Work as necessary, it being understood that all scheduling and coordination
issues related to the Original Project Work and Expansion Project Work are included in the Original Project Guaranteed Maximum Price Premises and Assumptions or the Expansion Project Guaranteed Maximum Price Premises and Assumptions (as applicable),
and any revisions thereto shall be addressed as a Change Order or Construction Change Directive. 
  
 7.7 Site Discipline. Contractor shall employ, and require all Subcontractors and Vendors to employ, only skilled workers properly qualified by
experience and ability to perform the tasks assigned to them, who are properly credentialed with visas and/or work permits allowing them to be legally employed at the Site. Contractor shall at all times be responsible for strict discipline and good
order among its employees, craft labor, agents and representatives as well as the employees, craft labor, agents and representatives of its Subcontractors and Vendors while performing Work and all other persons performing any Work. When requested by
Owner, Contractor shall remove and shall not re-assign to the Work any person who, in Owner’s reasonable opinion, is disorderly, insubordinate, unsafe, unskilled, incompetent or otherwise unfit for tasks assigned to them or lacks proper work
credentials for the tasks assigned or proper immigration papers. No workers shall be permitted to reside at the Site under any circumstances. 
  
 7.7.1 At all times during performance of the Work, including during any partial use or occupancy by Owner or others, Contractor
shall, and shall require all Subcontractors and Vendors to, abide by each and all of the following requirements: 
  
 7.7.1.1 Access to the Work area by construction personnel shall be the most inconspicuous route available, in order that the
general public and the Owner’s personnel are not inconvenienced. Access shall be arranged with Owner prior to commencement of Work. Access to restricted and/or limited access areas required by Work shall be coordinated with Owner. Alterations
to and restrictions of access to Work areas in connection with the Original Project Substantial Completion, Expansion Project Substantial Completion, Original Project Final Completion and/or Expansion Project Final Completion, 

  

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in order that remaining portions of the Project can be opened, and with as little inconvenience as possible, to the general public, are included in the
Original Project Guaranteed Maximum Price Premises and Assumptions or the Expansion Project Guaranteed Maximum Price Premises and Assumptions (as applicable). 
  

7.7.1.2 Owner’s toilet facilities and the Project’s permanent toilet facilities are not to be used by construction
personnel. 
  
 7.7.1.3 During the FF&E
and finish phase of construction, construction personnel are not permitted to eat or smoke where materials are in place nor use tables and chairs or other furniture that are part of the Project. During this phase of the Project, Owner will designate
appropriate places for eating. 
  
 7.7.1.4
Quiet and courtesy with respect to Owner’s employees and guests is mandatory. 
  
 7.7.1.5 Use all best efforts to insure that Contractor’s and all Subcontractors’ activities do not interfere with any
Project and Site systems (i.e., electric, elevator, plumbing, fire protection, HVAC, etc.) necessary to maintain ongoing operations of the Project and Site. 
  
 7.7.1.6 Power outages, mechanical shutdown and so forth shall be carefully coordinated with Owner. Contractor will provide Owner
with two (2) full business days, advance notice of any planned shutdowns of any basic Project or Site systems, and will obtain Owner’s written approval prior to commencing any such shutdown. 
  
 7.7.1.7 All life safety systems requiring shut-down
or tie-ins, in accordance with the above clause 7.7.1.6, shall be coordinated with Owner and shall be performed at such a time to minimize any effect of the safety, health and welfare of the building’s occupants. At the conclusion of each
work-day, all operable life safety systems shall be energized and operative. 
  
 7.7.1.8 Without limiting any other provision in this Section 7.7.1, any planned shutdowns of any basic Project or Site systems for the Original Project or Expansion Project following the Expansion Project
Substantial Completion or Original Project Substantial Completion, respectively, require advance notice to and written advance approval from Owner prior to commencing any such shutdown. 
  
 7.7.1.9 Contractor shall be responsible to Owner for acts and omissions of Contractor’s
employees and agents, Subcontractors and Vendors and their respective agents and employees, and other persons performing portions of the Work under a contract or arrangement with or under the direction of Contractor or with or under the direction of
any Subcontractor or Vendor. Except to the extent expressly provided otherwise in this Agreement, Contractor shall not be relieved of its obligation to perform the Work in accordance with the Contract Documents either by activities or duties of
Owner or 

  

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Architect/Engineer, or, by any request, approval or consent of Owner or Architect/Engineer, or by tests, inspections or approvals required or performed by
persons other than Contractor. Contractor shall require and ensure that each Subcontractor and Vendor complies with all applicable requirements set forth in the Contract Documents for Contractor. Except to the extent the Contract Documents expressly
provide otherwise, if any dispute arises between Owner, on the one hand, and Contractor, on the other hand, unless Owner directs otherwise, Contractor shall proceed with the performance of its obligations under the Contract with reservation of all
rights and remedies it may have under and subject to the terms of the Contract Documents. 
  
 7.7.1.10 Without limiting the provisions of Sections 7.7.1.1 through 7.7.1.9, Contractor acknowledges that upon opening portions of
the Project to the general public, such portions are intended to be operated as a “five-star” first class Las Vegas-style resort; accordingly, Contractor shall, and require all Subcontractors and Vendors to, carry out their obligations
under the Contract Documents with the utmost duty of care with respect to the general public. 
  
 7.8 Site Security. In cooperation with Owner, Contractor shall develop and implement an effective security program for protection of the Work in progress. Contractor shall secure, protect and be responsible
for, and shall provide all necessary or desirable measures for security and protection at and on the Site and the Work, and of all materials, supplies, tools and equipment and all other improvements and personal property at the Site or in the
vicinity of the Site, whether or not incorporated into the Work (collectively, the “On-Site Property”), including, but not limited to, utilizing fences, gates, cameras, and patrols (which shall include such number of duly qualified
guards, on a 24-hour basis, as Contractor (in consultation with and to the satisfaction of Owner) shall deem adequate or such larger number as shall be required to ensure security of the Site, the Work and the On-Site Property). Contractor shall
bear the cost of, and be liable for as a Non-Allowable Cost of the Work (subject to Section 3.2 hereof), and promptly shall remedy, all loss and damage to any Work, tools, equipment and all other improvements and personal property of the
Site from any cause whatsoever, except to the extent of loss or damage caused by Force Majeure, by Owner’s negligence or willful misconduct or by the negligence or willful misconduct of Owner’s separate contractors and their agents and
employees (subject to Contractor’s obligations under the Contract Documents to coordinate and monitor the work of such other Owner contractors). Owner may elect to provide and/or maintain security (including patrol guards) of its own choosing
for the whole or portions of the Work and/or Site and/or adjacent property, but Owner shall not have any obligation, responsibility or liability of any kind to any party whether or not Owner arranges for any security. Such Owner arranged or provided
security shall in no event release Contractor from or diminish any of Contractor’s obligations under the Contract Documents, including, but not limited to, this Section 7.8, and Contractor shall be solely responsible for security at
and of the Work and Site, regardless of any security arranged for by Owner. Owner shall not assume or incur any responsibility or liability relating to any security arranged by Owner. Contractor shall 

  

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cooperate with Owner’s security personnel and shall comply with all requests made by such personnel to secure and protect the Work and the Site.

  
 7.9 Coordination With Others. Contractor acknowledges
that Owner reserves the right to engage other contractors, engineers, inspectors, consultants and/or its own personnel to provide work or services relating to the Project which may be carried out concurrently with Contractor’s Work.
Specifically, and without limitation, Contractor acknowledges that FF&E procurement is excluded from Contractor’s Work but completion of installation of the same within the times set forth on the agreed upon Original Project Schedule and
the Expansion Project Schedule is necessary to achieve Original Project Substantial Completion and Expansion Project Substantial Completion. Contractor further acknowledges that a portion of Contractor’s Work will include installing materials
and equipment in the Project procured by Owner and provided by Owner to Contractor. Owner shall retain separate contractors and vendors for FF&E procurement as Owner desires; provided, however, upon Owner’s request Contractor agrees to
cooperate with Owner, including joint purchase arrangements, with respect to purchases of materials, supplies and equipment, including FF&E, where such cooperation and joint purchase may lead to a savings in purchase costs relating to such items
as determined by Owner. Contractor shall fully cooperate by coordinating its Work with any work or services being performed by Owner, Owner’s Consultants, Owner’s Contractors and Owner’s other engineers and inspectors as follows:

  
 7.9.1 Contractor shall coordinate its
construction activities with the activities of Owner, Owner’s Consultants, Owner’s Contractors and Owner’s other engineers and inspectors and provide the necessary personnel and services to coordinate and interface its Work with
Owner’s activities at the proper time and in a manner not to delay others or increase costs. 
  
 7.9.2 Contractor shall provide Owner and Owner’s Contractors with opportunities for the necessary storage and handling of
materials and equipment necessary for execution of their activities. 
  
 7.9.3 Contractor shall participate with Owner, Owner’s Consultants and Owner’s Contractors in reviewing their respective construction schedules when requested to do so. Contractor acknowledges that
the time allowed for each of Original Project Substantial Completion and Expansion Project Substantial Completion includes the necessary allowance of time for Contractor to coordinate and schedule the work of Owner’s Consultants and
Owner’s Contractors, and Contractor has included a specific allowance of time as it relates to Owner’s pre-opening activities with respect to each of the Original Project and the Expansion Project. 
  
 7.9.4 At its own expense as a Non-Allowable Cost of
the Work, Contractor shall promptly remedy any damage wrongfully caused by Contractor or any Subcontractor or Vendor to Owner’s existing property or completed or partially completed construction 

  

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work performed by Owner, Owner’s Consultants, Owner’s Contractors or Owner’s other engineers and inspectors. 
  
 7.9.5 If any part of the Work depends upon proper
execution of any completed work and services performed or otherwise provided by or on behalf of Owner, Contractor shall, prior to proceeding with its Work, inspect such work and promptly report to Owner any apparent discrepancies or defects in
Owner’s activities. The failure of Contractor to examine and report any such apparent discrepancies which are or should have been reasonably apparent to Contractor in the exercise of due diligence and prudent judgment and consistent with the
terms of the Contract Documents shall bar any Claims thereafter that any defects or delays in Contractor’s Work are due to defects, delays or disruptions in the activities performed or otherwise provided by Owner. 
  
 7.9.6 Contractor shall use, and Contractor shall
cause its Subcontractors and Vendors to use, all best efforts to work without causing labor disharmony, coordination difficulties, delays, disruptions, impairment of guarantees or interferences of any other obligations of any of Owner’s
Consultants, Owner’s Contractors and Owner’s other engineers and inspectors. 
  
 7.9.7 Contractor shall cooperate with Owner’s contractors, engineers, inspectors and vendors performing FF&E procurement
and installation services and shall incorporate such services in the Original Project Schedule and the Expansion Project Schedule and provide vertical transportation for the timely installation of FF&E. Contractor agrees to cause the Work to be
performed in such a manner so that prior to achievement of Original Project Substantial Completion and Expansion Project Substantial Completion (and as early as reasonably practicable), Owner will have access to the Site and the Original Work and
Expansion Project Work (as applicable) in order to (a) begin installing FF&E, the installation of which is not part of the Work except as otherwise provided in the Contract Documents, at the Site, (b) begin training its personnel at
the Site, and (c) and perform other tasks Owner deems necessary in connection with the opening of each of the Original Project and Expansion Project. 
  
 7.10 Product and Design Substitutions 
  
 7.10.1 All requests for Substitutions shall be made in writing and sufficiently in advance of Work performance needs to permit a
reasonable time for evaluation and written response by Owner without jeopardizing the Contract Time. 
  
 7.10.2 The acceptance of any Substitutions shall be at Owner’s sole discretion. 
  
 7.10.3 All Substitutions, including design changes
recommended by the Contractor, must be specifically accepted in writing by Owner prior to the use or implementation thereof by Contractor or any Subcontractor. 
  

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 7.10.4 In reviewing any Substitution, including design changes, Owner may
consider, without limitation, the comparative advantages and responsibilities, including, but not limited to,: (a) any and all additional costs pertaining to any redesign and adverse consequences of such redesign, (b) any and all costs of
replacement, corrections or adjustments to the Work, adjoining Work and Owner’s existing property, and (c) any and all costs arising from adverse impacts to the critical path of the Original Project Schedule or the Expansion Project
Schedule and/or any delays in the Contract Time arising out of such Substitution. 
  
 7.10.5 Contractor shall promptly notify Owner in writing if any items in the Contract Documents shall not be readily available, and
Contractor shall propose an available substitute item for Owner’s approval. Nothing in this Section 7.10.5 or elsewhere in the Contract Documents shall derogate from Contractor’s responsibility to select, order, and timely
purchase such items. If Contractor does not timely order or arrange for delivery of items or materials required for the Work, then upon at least five (5) days’ prior written notice to Contractor, Owner may (but is not obligated to) arrange
for delivery or order such items and materials and in such event the Original Project Guaranteed Maximum Price or the Expansion Project Guaranteed Maximum Price (as applicable) shall be reduced pursuant to a Construction Change Directive in
accordance with Article 18. 
  
 7.11 Tests and
Inspections 
  
 7.11.1 All on-Site and
off-Site material testing and inspections required by the Contract Documents or by Laws shall be arranged and supervised by Contractor in a timely manner to avoid any delays in the Work. 
  
 7.11.2 Owner may elect to require additional testing and inspections at any time during the course of
the Work and for a period of one (1) year after the date of issuance of the Original Project Certificate of Substantial Completion with respect to the Original Project Work and a period of one (1) year after the date of issuance of the
Expansion Project Certificate of Substantial Completion with respect to the Expansion Project Work, pursuant to Section 12.1 below. Such additional testing shall be paid for by Owner (from the Owner’s Contingency or otherwise)
unless such testing discloses material deficiencies not discovered during initial testing. In the event material deficiencies are disclosed, Contractor shall be responsible for all costs of such additional testing and inspections, and Contractor
shall pay such costs to Owner on demand therefor (or, at Owner’s option, Owner may deduct, withhold and/or set off such costs from or against any amounts then or thereafter payable or due to Contractor from Owner). Contractor’s
responsibility with respect to the costs of additional tests and inspections shall survive any termination of the Contract. 
  
 7.11.3 All certificates of such testing, inspection or approvals issued by all independent testing companies or governmental
authorities shall be promptly delivered to Owner. 
  

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 7.11.4 No inspection, or failure to inspect, by Owner or the independent testing
companies or Owner’s Lenders shall be construed as approval or acceptance of the Work or as a waiver of Contractor’s obligations to perform the Work in full compliance with the Contract Documents. 
  
 7.12 Access to Stored Material. Owner, Owner’s Lenders and
Macau SAR representatives may enter upon the location where any material or equipment is manufactured or stored for purposes of inspection, checking, testing or for any other purpose Owner, Owner’s Lenders or Macau SAR representatives deem
reasonably necessary. 
  
 7.13 Shop Drawings, Product Data and
Samples 
  
 7.13.1 “Shop
Drawings” are drawings, diagrams, schedules and other data specially prepared for the Work by Contractor, its Subcontractors or Vendors of any tier to illustrate how certain specific Work components fit together and will be located in
relation to each other. 
  
 7.13.2
“Product Data” are illustrations, standard schedules, performance charts, instructions, brochures, diagrams and other information furnished by Contractor, its Subcontractors or Vendor of any tier to illustrate materials or equipment
to be utilized for a portion of the Work. 
  
 7.13.3 “Samples” are physical examples which illustrate materials, equipment or workmanship and establish standards by which the Work will be judged. 
  
 7.13.4 Contractor shall timely prepare and submit a schedule of Shop Drawings, Product Data, test
reports, Samples etc., required to be submitted for the Work, in a format acceptable to Owner and Architect/Engineer. 
  
 7.13.5 Contractor shall review, approve (to the extent of their conformance to the Contract Documents) and submit to Owner or
Architect/Engineer or the appropriate consultant all Shop Drawings, Product Data, Samples and similar submittals required by the Contract Documents in accordance with the schedule therefor with promptness and in such sequence as to cause no delays
in the Work or in the activities of Owner, Owner’s Consultants or Owner’s Contractors. 
  
 7.13.6 Contractor’s submittal of Shop Drawings, Product Data, Samples and similar submittals shall be Contractor’s
representation that Contractor has determined and verified all materials, field measurements and field construction criteria, as appropriate, related thereto, and that Contractor has checked and coordinated the information contained within such
submittals with the requirements of the Work and of the Contract Documents. 
  
 7.13.7 Contractor shall not perform any portion of the Work requiring submittal and review of Shop Drawings, Product Data, Samples or similar submittals until such submittals have been accepted by
Architect/Engineer. Such review and acceptance 

  

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shall be in a timely manner so as not to delay the progress of the Work. Contractor shall carry out the Work in such submittals as accepted by
Architect/Engineer. 
  
 7.13.8 Contractor
shall make any corrections required by Owner or Architect/Engineer and shall resubmit the required number of corrected copies of Shop Drawings, Product Data, Samples or similar submittals until approved by Architect/Engineer. Contractor shall direct
specific attention, in writing or on resubmitted Shop Drawings, Product Data, Samples or similar submittals, to any revisions other than those requested by Owner or Architect/Engineer on previous submittals. 
  
 7.13.9 Contractor shall not be relieved of
responsibility for errors or omissions contained in Shop Drawings, Product Data, Samples or similar submittals based upon the approval, modification or acceptance thereof by Owner or Architect/Engineer unless the Contractor has specifically informed
Owner in writing of such deviation at the time of submittal and Owner has given prior written approval to the specific deviation. 
  
 7.13.10 Contractor shall be responsible for furnishing its Subcontractors and Vendors with sufficient copies of Shop Drawings,
Product Data and Samples, including any such construction data supplied by other Subcontractors and Vendors, as may be necessary for the coordination of the activities of all Subcontractors and Vendors. 
  
 7.13.11 Contractor shall submit one
(1) reproducible transparency copy and six (6) blue line prints therefrom of all Shop Drawings for all shop-fabricated items and all detailed assemblies indicated on the Shop Drawings. 
  
 7.14 Project Record Documents and As-Built Requirements. Contractor
shall maintain at the Site one (1) record copy of all Specifications, Drawings, approved Shop Drawings, Change Orders and other modifications, addenda, schedules and instructions, in good order. 
  
 7.14.1 The record Drawings shall be one (1) set
of black (or blue) and white prints of the Drawings on which must be recorded all “as-built” changes during the course of construction. This record set shall be maintained separate and apart from documents used for construction reference
as described in Section 7.2.13 above. 
  
 7.14.2 All as-built documents shall be kept current and Contractor shall not permanently conceal or cover any Work until all required information has been recorded. 
  
 7.14.3 Records of exterior underground utilities shall be made at the time of installation.

  
 7.14.4 In marking any as-built
conditions, Contractor shall ensure that such Drawings indicate by measured dimension to building corners or other permanent monuments the exact locations of all piping, conduit or utilities concealed in concrete slabs, behind walls or ceilings or
underground. As built Drawings shall be made to scale and shall 

  

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also include exact locations of valves, pull boxes and similar items as required for maintenance or repair service. Prior to Original Project Final
Completion and Expansion Project Final Completion (as applicable) and as a condition to Original Project Final Payment and Expansion Project Final Payment (as applicable), Contractor shall be responsible for providing Owner with a fully completed
and accurate set of all as-built Drawings with respect to each of the Original Project and the Expansion Project (as applicable) in an acceptable electronic format, as Contract Documents for Owner’s permanent records. 
  
 7.14.5 All documents described in this
Section 7.14, including the as-built Drawings, shall be readily accessible at the Site for inspection upon request by Owner, Owner’s Lenders, Owner’s Consultants, Owner’s Contractors and/or their authorized representatives
throughout the course of the Work. 
  
 7.15 Site Clean Up.
All Work performed under this Contract shall comply with all Laws governing applicable noise, dust and pollution control requirements. 
  
 7.15.1 Daily Clean Up. Contractor shall regularly and on a daily basis during the course of the Work keep the Site and all
Work-related areas in a clean and safe condition to Owner’s reasonable satisfaction by promptly removing and properly disposing of all debris and rubbish generated by Contractor’s operations. Contractor shall maintain ingress or egress
from the Site in a clean condition, and shall remove from these areas all of Contractor’s (and Subcontractors’ and Vendors’) spillage and tracking arising from the performance of the Work, and shall promptly repair any damage to the
same. Contractor shall minimize to the extent reasonably possible the impact and effect of the Work and other activity on the Site on properties adjoining and nearby the Site, and shall take all necessary and commercially practical and reasonable
precautions (and comply with all applicable Laws) to prevent any debris including, but not limited to, fugitive dust, from entering or interfering with any adjacent or nearby property. 
  
 7.15.2 Substantial Completion Clean Up. Except to the extent that Owner may designate otherwise in
writing, the Contractor shall perform the following “clean up items” (a) with respect to the Original Project, prior to the date of issuance of the Original Project Certificate of Substantial Completion and (b) with respect to
the Expansion Project, prior to the date of issuance of the Expansion Project Certificate of Substantial Completion (as applicable) pursuant to Section 12.1 below: 
  
 (a) removal of all wastes and rubbish; 
  
 (b) cleaning of all walls and other surfaces including tile, wood and glass surfaces, and cleaning of all
corridors, skylights, doors, architectural metals, carpets, rugs, floors, woodwork and all other items to have the Work ready to operate for the purpose for which it is intended; 
  

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 (c) replacement of all broken glass (including removing labels, washing and polishing
both sides); 
  
 (d) cleaning and polishing of
all plumbing fixtures and equipment; 
  
 (e)
restoring existing facilities such as roads, other paved surfaces, fencing and curbing at the Site to their pre-existing condition unless more is required by the Contract Documents; 
  
 (f) requiring affected Subcontractors to promptly remove from the Site all temporary offices, tools,
equipment, machinery and surplus materials not required for the continued performance of the Work and otherwise leaving the designated areas “vacuum clean;” 
  
 (g) machine-sweep and clean all drive-way surfaces; 
  
 (h) grind, smooth, and sweep clean any concrete surfaces, as
necessary or desirable; 
  
 (i) remove temporary
protections; 
  
 (j) remove marks, spots, dust,
stains, fingerprints and other soil or dirt from all floors, tile, walls, finishes, marble, finished materials, fixtures, equipment and other Work, and wash or wipe clean and leave the same in undamaged, new condition; 
  
 (k) clean tubs, toilets and other fixtures, cabinet work and
equipment, removing stains, paint, dirt and dust, and leave the same in undamaged new condition; 
  
 (l) clean all metal finished in accordance with recommendations of the manufacturer and accepted industry standards; 
  
 (m) clean resilient floors thoroughly with a well rinsed mop
containing only enough moisture to clean off any surface dirt or dust and buff dry by machine to bring the surfaces to sheen; 
  
 (n) clean all light fixtures and insure that they are fully lamped and operating; and 
  
 (o) other items related to clean-up of the Site, as
identified by the Owner’s Representative. 
  

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 The foregoing clean up items shall not include but shall be in addition to, any items of defective
workmanship or omissions which are to be corrected at Contractor’s cost pursuant to Article 10 of this Agreement. 
  
 7.15.3 Final Completion Clean Up. Prior to Original Project Final Completion and Expansion Project Final Completion (as applicable)
pursuant to Section 12.2 below, Contractor shall complete any of the clean up items described above which were either not required by Owner at the time of Original Project Substantial Completion or Expansion Project Substantial
Completion (as applicable) or which were not satisfactorily completed and accepted by Owner at the time of Original Project Substantial Completion or Expansion Project Substantial Completion (as applicable). 
  
 7.15.4 Site Clean Up By Owner. In the event
Contractor fails to maintain the Site in a manner satisfactory to Owner, and fails to complete appropriate clean up and/or removal activities within twenty-four (24) hours after receipt of Owner’s written notice to do so, Owner shall have
the right to perform such clean up and removal activities and the Original Project Guaranteed Maximum Price and Expansion Project Guaranteed Maximum Price (as applicable) shall be reduced by the amount of all costs incurred by Owner in connection
therewith, provided that if the unspent balance of the Original Project Guaranteed Maximum Price and Expansion Project Guaranteed Maximum Price (as applicable) is insufficient to cover such amount, Contractor shall immediately pay the difference to
Owner. 
  
 7.16 Construction Facilities and Temporary
Controls. Contractor shall be solely responsible for the design (except as otherwise provided in the Contract Documents), transport, erection, inspection and maintenance of all temporary supports and structures; including, but not limited to,
electricity and lighting, heat, telephone and fax, water, sanitary facilities, fire protection, hoisting equipment and machinery, staging and scaffolding, temporary equipment and materials, all shoring and bracing, all cranes, hoists, derricks and
supports, barriers and fencing, water control, field office, storage facilities and all other types of temporary supports and structures required for the Work and provided by Contractor or its Subcontractors while performing the Work. Contractor
shall provide and maintain reasonable safety precautions to protect the public and avoid obstruction or interference with vehicular or pedestrian traffic in public streets, alleyways or private rights-of-way. Contractor shall, or shall cause
Subcontractors to, leave proper access to hydrants and other similar places, and shall provide sufficient lighting during working hours and from twilight of each day until full daylight of each following day. When work is suspended, Contractor
shall, or shall cause Subcontractors to leave roadways and sidewalks in proper condition and restore all such to good condition on completion of the Work and in compliance with all Laws. Contractor shall, or shall cause Subcontractors to, maintain,
keep in good repair, and shift and alter as conditions may require, all guard rails, passageways and temporary structures and remove the same when the Work is completed or when the need for their use has ceased. 
  

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 7.17 Cutting and Patching of Work. Contractor shall be responsible for all cutting, fitting or
patching of the Work that may be required to properly complete the Work or make its parts fit together properly. Any costs resulting from improper cutting, fitting and patching to any work performed by Owner or Owner’s Consultants shall be
Contractor’s responsibility as a Cost of the Work. Contractor shall not damage or endanger a portion of the Work or fully or partially completed construction of Owner or separate contractors by cutting, patching or otherwise altering such
construction, or by excavation. Contractor shall not cut or otherwise alter such construction by Owner or a separate contractor except with consent of Owner, which shall not be unreasonably withheld or delayed. Contractor, if required by
Specifications and Drawings, shall make connections to materials or equipment furnished, set, and/or installed by other contractors. No Work connecting to such materials or equipment provided by other contractors shall be done without giving such
contractors a reasonable length of time to complete their work or until permission to proceed has been obtained from Owner. Owner shall secure and provide to Contractor the Shop Drawings from Owner’s Contractors for such of their work as is to
be built into Contractor’s Work, or to which Contractor must make connection, and Contractor shall review and advise Owner of any discrepancy or unsuitability relative to its own Work. Each party shall cause its contractors to provide all
openings and chases in its own work necessary for the installation of process equipment, and shall fill in around the same afterwards, if required. 
  
 7.18 On-Demand Bond Requirements 
  
 7.18.1 Contractor’s Bond Requirements. 
  
 7.18.1.1 On or before the date that is the earlier of (A) thirty days following the execution of
this Agreement and (B) the consummation of Owner’s refinancing of the Project (currently scheduled to be on or about August 15, 2005), Contractor shall furnish two (2) fully executed On-Demand Bonds, substantially in the form
attached hereto as Exhibit L (with such changes to such form as may be required by Owner’s Lenders prior to the actual issuance of the On-Demand Bond, so long as such changes do not materially or substantially alter Contractor’s
rights, duties or obligations thereunder), naming Owner and, if requested by Owner’s Lenders, Owner’s Lenders (as Owner’s Lenders may change from time to time), as obligees and beneficiaries, covering both the Contractor’s
faithful performance of this Contract and the payment of all obligations arising hereunder. The On-Demand Bonds shall be in the aggregate amount equal to ten percent (10%) of the initial Original Project Guaranteed Maximum Price and ten percent
(10%) of the initial Expansion Project Guaranteed Maximum Price, respectively. Thereafter, neither On-Demand Bond shall be increased or decreased unless Owner grants advance written approval of such increase or decrease. Each On-Demand Bond
shall provide that it may be freely assignable by Owner to Owner’s Lenders, and by Owner’s Lenders to any subsequent lenders or successors and assigns. Each On-Demand Bond and all supplements shall be issued by a bank approved in writing
by Owner and Owner’s Lenders. Without limiting the approval rights of Owner and Owner’s Lenders set forth in the previous sentence, the issuer of the On-Demand Bonds shall, both prior to the issuance of the On-Demand Bonds and at all times
until such 

  

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On-Demand Bond expires or terminated pursuant to the terms thereof, be rated “A” or higher by Standard & Poor’s Corporation or by
Moody’s Investors Service, Inc. (or an equivalent rating provided by a locally available rating agency, with such rating and such rating agency acceptable to Owner and Owner’s Lenders). If the issuer of the On-Demand Bonds ceases to be
rated at least “A” by either Standard & Poor’s Corporation or by Moody’s Investors Service, Inc. (or falls below the acceptable rating set by Owner and Owner’s Lenders with respect to the local rating agency, if
applicable), Contractor shall, within five (5) business days of such down-grading, obtain replacement On-Demand Bonds which conforms to the requirements of this Section 7.18.1. Concurrently with Contractor’s delivery of the On-Demand
Bonds pursuant to this Section 7.18.1.1, Owner shall return the On-Demand Bond previously delivered by Contractor to Owner pursuant to the Original Agreement. 
  
 7.18.1.2 The parties acknowledge that the On-Demand Bonds specify that any demand made thereunder
shall be accompanied by a written statement signed by the Owner or by an “Independent Expert” certifying that the Contractor has failed to perform all or any of its obligations under this Agreement and the amount of the damages claimed by
the Owner as a result of such failure. Owner and Contractor hereby agree to appoint Geoff McCauley of WT Partnership as the Independent Expert for purposes of the On-Demand Bonds. If Geoff McCauley (or any successor Independent Expert) resigns,
dies, becomes incapacitated or is otherwise unable to serve as the Independent Expert, Owner and Contractor shall attempt in good faith to agree upon a successor Independent Expert. If Owner and Contractor are unable to name a successor Independent
Expert within thirty (30) days, the dispute shall be resolved by arbitration in accordance with Section 22.1. If Owner desires to make demand under either or both On-Demand Bonds, Owner shall deliver a notice to the Independent Expert
requesting that the Independent Expert make a determination whether or not Contractor has failed to perform all or any of its obligations under this Agreement and the amount of the damages due Owner as a result of any such failure. If the
Independent Expert determines that Contractor has failed to perform all or any of its obligations under this Agreement, the Independent Expert shall deliver a “Statement” pursuant to (and as defined in) the On-Demand Bonds. Except as
provided in the next sentence, only the Independent Expert, and not Owner, shall have the right to deliver a Statement pursuant to the On-Demand Bonds. If (a) the Independent Expert fails to make a determination whether or not Contractor has
failed to perform all or any of its obligations under this Agreement within twenty-one (21) days after receipt of Owner’s notice, (b) the Independent Expert determines that Contractor has failed to perform all or any of its
obligations under this Agreement and the Independent Expert fails to deliver a Statement pursuant to the applicable On-Demand Bond within twenty-one (21) days after receipt of Owner’s notice, or (c) no Independent Expert is then
serving and no successor has yet been appointed, then Owner shall have the right to deliver a Statement pursuant to the applicable On-Demand Bond if Owner determines in good faith that Contractor has failed to perform all or any of its obligations
under this Agreement. 
  
 7.18.2
Subcontractor’s Bond Requirements. On a case-by-case basis for subcontracts with a contract value in excess of Five Million United States Dollars 

  

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(US$5,000,000), Owner may elect to require that Contractor’s Subcontractors provide an On-Demand Bond as described in Section 7.18.1 above
using a form approved by Owner and Owner’s Lenders. The amount of each such On-Demand Bond shall be equivalent to a minimum of ten percent (10%) of the full value of the relevant subcontract or such lesser amount as Owner may approve in
writing. All costs of each On-Demand Bond for those Subcontractors so designated by Owner shall be quoted separately to Owner for Owner’s prior written approval before such bond is obtained. Contractor shall recommend to Owner whether or not to
require such On-Demand Bonds as to each respective Subcontractor. Nothing in this Section 7.18 shall preclude Contractor from requiring a bond, guarantee or other security from any Subcontractor or Vendor; provided, however, that in the
event Owner does not grant prior written approval for an On-Demand Bond with respect to such Subcontractor or Vendor, Contractor’s election to require such bond, guarantee or other security shall be at Contractor’s sole cost and expense.

  
 7.19 Liens. 
  
 7.19.1 If at any time Owner receives any stop notice,
mechanic’s lien or similar claim pertaining to unpaid amounts for any labor, goods, materials, equipment or services provided as part of Contractor’s scope of Work (and provided Owner has paid all sums then due and owing to Contractor
pursuant to and within the time period set forth in the Contract Documents), Contractor agrees to immediately release or cause the release of Owner, Owner’s property, the Site, the Original Project and/or the Expansion Project, as applicable,
from such notices, liens or claims, or, at Contractor’s option, to file a bond in lieu thereof in an amount satisfactory to Owner. All costs incurred by Contractor in effecting the foregoing shall be at Contractor’s sole expense as a
Non-Allowable Cost of the Work, except that should Contractor be successful in having Owner’s property, the Site the Original Project and/or the Expansion Project, as applicable, released from such notices, liens or claims without the necessity
of Contractor posting any bond and without the payment by Contractor to the lien claimant of any monies to effect such release, all of Contractor’s reasonable fees and costs incurred in effecting such release shall be a Cost of the Work. It is
expressly understood that all of Contractor’s obligations with respect to this Section 7.19 begin immediately at the outset of any notice of a claim, either by correspondence or court proceeding or otherwise, and without regard to
any showing of fault on the Contractor’s part, and in all cases Contractor shall cause Owner, Owner’s property, the Site, the Original Project and/or the Expansion Project, as applicable, to be released from all such liens and claims or,
at Contractor’s option, bond against such liens and claims in accordance with Section 7.19.2 below, in either case within fifteen (15) days of receipt of notice thereof (or such lesser period in any loan documents relating to
Owner’s Lenders). 
  
 7.19.2 If any
such notice or claim is received and Contractor does not release, or cause the release, of Owner, Owner’s property, the Site, the Original Project and/or the Expansion Project, as applicable, from the lien or claim within the fifteen
(15) day period set forth in Section 7.19.1 or, at Contractor’s option, obtain a bond and file with the appropriate court a petition to substitute the bond for such lien or claim within fifteen 

  

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(15) days after receipt of notice thereof (or such lesser period in any loan documents relating to Owner’s Lenders), and obtain a court order within
thirty (30) days after filing such petition, allowing substitution of the bond for such lien, Owner shall have the right to pay all sums necessary to obtain the release of Owner, Owner’s property, the Site, the Original Project or the
Expansion Project, as applicable from such lien or claim and deduct all sums to be paid (including attorneys’ fees and the amount of any obligations assumed by Owner) from the Original Project Guaranteed Maximum Price or the Expansion Project
Guaranteed Maximum Price (as applicable). 
  
 7.19.3 Contractor acknowledges (a) that pursuant to Clause 42 of the Gaming Concession Agreement, Owner is required to keep the Project and the Work free and clear of any liens, encumbrances or security interests, and
(b) that a breach of this provision of the Gaming Concession Agreement will cause Owner to suffer substantial losses. Contractor agrees that it will not, and it shall use reasonable precautions to ensure that the Subcontractors and Vendors do
not, impose, or exercise their rights with respect to, any liens, encumbrances or security interests on the Project and the Work. Further, all materials and equipment supplied by Contractor pursuant to the Contract Documents shall be delivered free
and clear of all liens and not be subject to any conditional sale, purchase-money lien, security agreement, financing agreement or chattel mortgages. Contractor agrees that, to the extent it is permitted by law to claim a lien on any material or
equipment at the Site or any component of the Work in accordance with the Contract Documents or applicable Law, it will not exercise such right. 
  
 7.20 Royalties and Patents. Contractor shall pay as a Cost of the Work in accordance with Section 3.2.11 hereof all royalties and
license fees relating to the Work. Contractor shall defend suits or claims for infringement of patent rights and shall indemnify and hold Owner harmless from loss on account thereof, but shall not be responsible for such defense or loss when a
particular design, process or product of a particular manufacturer or manufacturers is required by the Contract Documents. However, if Contractor knows, or should know following due inquiry, that the required design, process or product is an
infringement of a patent, Contractor shall be responsible for such loss unless such information is promptly furnished to Owner. 
  
 7.21 Training. 
  
 7.21.1 With respect to the Original Project, prior to and as a condition to payment of the Original Project Final Payment,
Contractor shall orient and instruct the responsible maintenance personnel designated by Owner in the operations of all equipment and shall provide the maintenance personnel with pertinent literature and operational manuals for all equipment
designated by Owner. 
  
 7.21.2 With
respect to the Expansion Project, prior to and as a condition to payment of the Expansion Project Final Payment, Contractor shall orient and instruct the responsible maintenance personnel designated by Owner in the operations of all equipment

  

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and shall provide the maintenance personnel with pertinent literature and operational manuals for all equipment designated by Owner. 
  
 7.22 Construction Photographs. Contractor shall submit color
construction photographs to Owner and Owner’s Lenders with each month’s Application For Progress Payment during the Work. Each month, such photographs shall consist of at least four (4) views of the building from ground-view points as
directed by Owner and any interior views requested by Owner or Owner’s Lenders. 
  
 7.23 Statement of Unpaid Claims. Whenever requested by Owner or Owner’s Lenders, Contractor shall certify to Owner in writing (in a form satisfactory to Owner) the amounts then claimed by and/or due and
owing from Contractor to any person(s) for labor and services performed and materials and supplies furnished relating to the Work, setting forth the names of the persons whose charges or claims for materials, supplies, labor, or services have been
paid and whose charges or claims are unpaid or in dispute, and the amount due to or claimed by each respectively. 
  
 7.24 Protection of Work. Contractor shall design, furnish, erect and maintain in a safe manner to cause to be designed, furnished and erected, such
barricades, fences, and railings; give such warnings; display such lights, signals and signs; exercise such precautions against fire; adopt and enforce the rules, regulations or requirements of governmental authorities, and take such precautions as
may be necessary. Contractor shall immediately report in writing to Owner all accidents howsoever arising out of or in connection with the performance of the Contract Documents, whether on or adjacent to the Site, which result in death, injury or
property damage, giving full details and statements of witnesses. In addition, if death or serious injury or serious damage is caused, the accident shall be reported by telecopy to Owner and the insurance carrier or its representative providing
insurance for the Project. If any claim is made by any third party against Contractor, any Subcontractor or Vendor, on account of any accident or similar event, Contractor shall immediately report the fact in writing to Owner, giving details of the
claim and Contractor’s explanations as to the same. 
  
 7.25 Information to Authorities. Contractor acknowledges that (a) Owner and its affiliates are subject to stringent and comprehensive Laws in Macau and in the United States of America (including those issued by the gaming authorities
thereof); and (b) Contractor (as well as Subcontractors and Vendors at any tier) may, at the request of Owner or the appropriate governmental authority, be required to submit from time to time such information regarding its operations, businesses or
ownership to Owner or the appropriate governmental authority, as the case may be. Contractor shall provide to Owner English translations of all non-English documents (a) filed with applicable governmental authorities in connection with the
construction of the Work or (b) delivered to Owner under this Agreement. Contractor shall ensure that all translations submitted to Owner are true and accurate in all material respects. 
  

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 7.26 Hazardous Materials. 
  
 7.26.1 Title to, ownership of and legal responsibility for all pre-existing hazardous materials at
the Site shall remain with Owner. In this Agreement, “pre-existing hazardous materials” shall be limited to all substances that are considered hazardous or toxic under the laws of Macau that (a) existed as of the Original
Project Date of Commencement, (b) have not been introduced to the Site by Contractor, and (c) have not been negligently disturbed by Contractor, including asbestos and poly-chlorinated biphenyl (PCB). 
  
 7.26.2 Contractor shall have no responsibility for
the handling, removal or disposal of pre-existing hazardous materials at the Site except to the extent addressed or covered in the Contract Documents or otherwise made known to or is known to or, as of the date hereof, is reasonably foreseeable by
Contractor. 
  
 7.26.3 In the event
Contractor encounters pre-existing hazardous materials or materials reasonably expected to be hazardous to health, Contractor shall, within one (1) day of discovering such materials, notify Owner and stop work in the affected area until an
environmental laboratory properly certified by the applicable Authority retained directly by Owner shall have verified that the relevant materials have been removed or rendered harmless. Notwithstanding the foregoing, Contractor shall use its best
efforts to minimize any delay to the Original Project Schedule and the Expansion Project Schedule caused by the discovery of pre-existing hazardous materials. 
  

7.26.4 In the event Contractor shall reasonably determine that the either or both of the Original Project Schedule or the
Expansion Project Schedule will be delayed due to the presence of pre-existing hazardous materials, it shall, within ten (10) days of the initial discovery of such pre-existing hazardous materials, submit to Owner a Change Proposal Request for
an extension of time and/or an adjustment to the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) in accordance with Article 18 hereof. Contractor’s failure to submit a Change
Proposal Request within the time period stated in this Section 7.26.4 shall amount to a waiver of its rights hereunder. Contractor shall not be entitled to an extension of time or an adjustment to the Original Project Guaranteed Maximum
Price or Expansion Project Guaranteed Maximum Price (as applicable) for hazardous materials that are not pre-existing hazardous materials. 
  
 7.26.5 All solid and liquid wastes, hazardous substances, and hazardous materials used by Contractor (including all solvents,
cleaners, waste oils and trash) shall be handled and disposed of in full compliance with all applicable Laws (including, but not limited to, environmental laws of Macau). Contractor shall be responsible for any environmental contamination that
occurs at the Site as the result of the acts or omissions of Contractor or its Subcontractors, Vendors or invitees. 
  

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 7.26.6 Contractor and its Subcontractors and Vendors shall have no responsibility
for the discovery, presence, handling, removal or disposal of pre-existing hazardous materials discovered on the Site, including asbestos, asbestos products, poly-chlorinated biphenyl (PCB) or other substances classified as hazardous by the
Environmental Protection Agency of the U.S. Government or any other federal, state or local government agency of the United States, except to the extent addressed or covered in the Contract Documents or otherwise made known to or reasonably
foreseeable by Contractor. If Contractor discovers the presence of any hazardous materials at the Site not otherwise called out in the Contract Documents or otherwise made known to or reasonably foreseeable by Contractor, Contractor shall promptly
report the presence and precise location of any such materials to Owner and immediately stop Work in the affected area unless requested otherwise by Owner. 
  
 7.27 Taxes, Customs and Import Duties. 
  
 7.27.1 Contractor shall be responsible for the payment of all Taxes imposed on or as a consequence of the importation of any
machinery, hardware and software, articles, equipment, apparatus, materials, supplies, appliances, parts, instruments or other things of all kinds which are required to construct the Work (collectively, the “Plant”) into Macau and
delivery to and erection on the Site for the purposes of this Agreement. Contractor shall indemnify Owner from and against all liability, cost, damages, loss and expense: 
  
 (a) arising from the Contractor’s failure to pay the whole or any part of any such Taxes; or

  
 (b) resulting from the Contractor’s
failure to co-operate with, or follow instructions from the Owner or the Owner’s Representative, to maintain such exemptions from or reductions of such Reimbursable Taxes as may be granted by any governmental authority to the Owner. 

 
 7.27.2 In addition to the foregoing, Contractor
shall: 
  
 (a) timely obtain all exemptions from
or reductions of all Reimbursable Taxes which are reasonably capable of being obtained, having regard to all applicable Laws at the date of importation; 
  
 (b) not make changes to the type or country of origin of any Plant or in the method of packaging, shipment or importation which would
result in any increase in the Reimbursable Taxes payable (unless the overall cost of such Plant would be reduced); and 
  
 (c) not knowingly provide information on, or exclude information from, any Project import list or packing list, which would attract Tax at
a rate higher than the applicable concessionary rate. 
  

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 ARTICLE VIII.

 ARCHITECT/ENGINEER; DESIGN DOCUMENTS 
  
 8.1 Architect’s/Engineer’s Administration of the Contract 
  
 8.1.1 The term Architect/Engineer includes the Architect/Engineer and the
Architect’s/Engineer’s authorized representatives. Architect/Engineer shall act in its professional capacity as a Subcontractor during the course of the Work. Contractor shall have direct responsibility of all work performed by the
Architect/Engineer, whether occurring prior or subsequent to the date the Architect/Engineer Agreement is transferred to Contractor. The Guaranteed Maximum Price includes all fees and expenses due to the Architect/Engineer. 
  
 8.1.2 The Architect/Engineer shall at all times have
access to the Work wherever it is in preparation or being performed. 
  
 8.1.3 The Architect/Engineer shall have authority to require additional inspection or testing of the Work, whether or not such Work is fabricated, installed or completed, by giving reasonable advance notice in
writing to both Owner and Contractor. However, only Owner shall have authority to reject any Work which does not conform to the Contract Documents. 
  
 8.1.4 The Architect/Engineer shall review and approve or take other appropriate action upon the Contractor’s submittals such
as Shop Drawings, Product Data and Samples, for the limited purposes of checking for conformance with the Specifications and related design intent expressed in the Contract Documents. The Architect/Engineer shall provide its response to all such
submittals in a timely manner to avoid delays in the Work. 
  
 8.1.5 Contractor acknowledges that Owner’s Design is an integral part of the design process and understands and accepts the responsibility of coordinating the Owner’s Design with the
Architect/Engineer’s design. 
  
 8.2 Design Information,
Drawings and Manuals. 
  
 8.2.1
Draft Design Information. Not less than sixty (60) days prior to the commencement of each construction activity as shown on the then current Original Project Schedule or Expansion Project Schedule (as applicable), Contractor shall submit
to Owner’s Representative Drawings, Specifications and related design information (collectively, “Design Information”) in relation thereto in a form and to a level of detail acceptable to the Owner’s Representative. The
Design Information shall describe the size, quality and character of the applicable portion of the Work as it relates to the Project (including the interrelation of the Original Project and Expansion Project, if applicable); its architectural,
structural, mechanical, electrical, plumbing and fire safety systems; and the materials and other elements of the applicable portion of the Work necessary for construction to be 

  

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completed in compliance with the requirements of the Contract Documents and all applicable Laws. In the event that Contractor submits any Design Information
that does not comply with or is inconsistent with the Original Project Guaranteed Maximum Price Premises and Assumptions and/or Expansion Project Guaranteed Maximum Price Premises and Assumptions, or prior Design Information, it shall clearly
identify and give particulars of such non-compliance or inconsistency. 
  
 8.2.2 Approval of Design Information. If Contractor shall request Owner’s approval of particular Design Information, then within thirty (30) days of receipt of such Design Information, the
Owner’s Representative shall either (a) if it considers the same to comply with the Original Project Guaranteed Maximum Price Premises and Assumptions or Expansion Project Guaranteed Maximum Price Premises and Assumptions (as applicable)
and the prior Design Information, approve the same in writing or (b) raise objections thereto in writing, in which case the same shall be modified by Contractor as often and to the extent necessary to comply, in the opinion of the Owner’s
Representative, with the Original Project Guaranteed Maximum Price Premises and Assumptions or Expended Project Guaranteed Maximum Price Premises and Assumptions (as applicable) and the prior Design Information, whereupon approval will be given.
Failure by Owner to raise objections in writing within said thirty (30) day period shall be deemed an approval by Owner under clause (a); provided that Contractor shall have provided Owner with an additional notice not less than five
(5) nor more than eight (8) days prior to the expiration of such thirty (30) day period stating that Owner’s failure to respond shall constitute a deemed approval of the particular Design Information. On each re-submission of the
Design Information objected to by the Owner’s Representative, the Owner’s Representative shall give his consent or raise further objections to the re-submitted Design Information within fourteen (14) days of its receipt by the
Owner’s Representative. Notwithstanding the foregoing, the Owner’s Representative’s approval shall be required on all Design Information relating to aesthetics (colors, finishes, etc.) or major building systems or equipment having
long-term maintenance requirements (such as elevators). In addition, Owner shall have the right to raise objections to any other Design Information regardless of whether Contractor requested Owner’s approval thereof, provided that any such
objections are made within thirty (30) days after Owner first has knowledge of the particular Design Information. 
  
 8.2.3 Further Information. For the purpose of exercising his power hereunder, the Owner’s Representative may call for
such further or other Design Information as may be reasonably necessary. 
  
 8.2.4 No Relief from Liability. Contractor acknowledges that neither: 
  
 (a) the examination of or the giving or withholding of approval to any Design Information under this Article 8, or the making of
objections, representations, comments or suggestions, or any failure to make the same in relation to the Design Information or any other aspect of the Work; nor 
  

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 (b) any other act or omission of Owner, the Owner’s Representative, the Owner’s
Lenders or of any other person acting or purporting to act on their behalf in relation to any aspect of the Work; 
  
 shall relieve Contractor from its responsibility for the acts and omissions of its employees, architects, engineers and consultants (including, but not limited to,
Architect/Engineer) in the preparation of the Design Information or relieve Contractor in whole or in part of any duty, obligation or liability undertaken by Contractor in relation to the Work (including, but not limited to, Contractor’s
obligation to complete the Work in accordance with the Original Project Guaranteed Maximum Price Premises and Assumptions and Expansion Project Guaranteed Maximum Price Premises and Assumptions), whether under this Agreement or otherwise, or
diminish or vary any such duty, obligation or liability, whether by way of contribution or otherwise; provided that nothing in this Section 8.2.4 shall exclude or otherwise affect any right of the Contractor to be discharged from its
obligations under the Contract. The Drawings and Specifications shall be adequately prepared by or on behalf of Contractor such as to be approved for use by all authorities having jurisdiction over the Original Project or Expansion Project
construction without undue delay to the Original Project or Expansion Project (as applicable). 
  
 8.2.5 No Variation. If any Design Information does not comply with or is inconsistent with the Original Project Guaranteed
Maximum Price Premises and Assumptions or Expansion Project Guaranteed Maximum Price Premises and Assumptions (as applicable), there will be no increase in either the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum
Price or adjustment to the Contract Time awarded in respect of the time taken for, or other circumstances whatsoever surrounding, approval being given or withheld by the Owner’s Representative in relation to such Design Information, or the
subsequent carrying out of the works of construction the subject thereof. 
  
 8.2.6 Work to Comply with Design Information. Contractor shall execute the Work strictly in accordance with the Original Project Guaranteed Maximum Price Premises and Assumptions or Expansion Project
Guaranteed Maximum Price Premises and Assumptions (as applicable) and the prior Design Information, using new and high grade materials and workmanship of first class and sound quality. Work carried out by the Contractor other than as aforesaid shall
be removed at the request of the Owner’s Representative. 
  
 8.2.7 Erection Information. Without limiting the generality of the foregoing obligations, Contractor shall provide, within the times stated in this Agreement, drawings showing how the Work is to be
constructed, assembled or affixed and any other information required for: 
  
 (a) preparing suitable foundations or other means of support; and 
  

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 (b) providing suitable access on the Site for the Work and any necessary equipment to the
place where the Work is to be erected. 
  
 8.2.8 Ownership of Documents. (a) Contractor hereby represents and warrants that it is the owner of, or it will obtain upon the payment by Owner of the applicable monthly progress payment corresponding thereto, all right,
title and interest (to the fullest extent possible under applicable Laws) in and to all plans, drawings, specifications and other documents prepared by or on behalf of Contractor hereunder for the Project (excluding, for the purpose of clarity, the
Owner’s Design), as such plans, drawings, specifications and other documents may be added to or modified from time to time (collectively, the “Design Documents”), whether created by the Contractor, Architect/Engineer or their
respective consultants or engineers as instruments of service, and that the Design Documents do not infringe any copyright held by third parties. Contractor hereby transfers to Owner or Owner’s assigns, to the fullest extent possible under
applicable Laws and upon the payment by Owner of the applicable monthly progress payment corresponding thereto, all of Contractor’s right, title and interest (including, but not limited to, the copyright thereto and all other intellectual
property therein and all rights and privileges pertaining thereto) in and to the Design Documents. Owner shall have the right to use all of the Design Documents for any purpose whatsoever, including, but not limited to, completion of the Project (or
any portion thereof) by others or use on other projects, upon termination of this Contract, without notice to or further compensation to Contractor, Architect/Engineer or any other party. Contractor shall not use, and shall ensure that
Architect/Engineer shall not use, the Design Documents on other projects or disclose the contents of the Design Documents to other parties without the prior written consent of Owner in each instance. Contractor shall deliver the Design Documents to
Owner in a timely manner. Subject to Section 8.2.12, Contractor, Architect/Engineer and their respective consultants and engineers shall be permitted to retain copies of the Design Documents as necessary to perform their respective
services in connection with the Project. 
  
 (b)
Contractor hereby further represents and warrants that it has received or will receive all necessary licenses and consents in respect of any copyright, design rights and other proprietary rights that are required from any other person or entity
(except Owner’s Consultants) in connection with the construction, operation, maintenance, adjustment or repair of the Work; that all such licenses, consents and rights are or will be in full force and effect; and that such licenses, consents
and rights permit the Owner to operate and maintain the Work in perpetuity free of charge and without interference from any third party, and the Contractor shall indemnify Owner from any and all losses, claims, costs and liabilities sustained or
incurred by Owner to any such person in respect thereof. 
  
 (c) Contractor covenants that the Design Information does not, and its use will not, infringe the rights of any third party. 
  
 (d) Contractor shall be liable for all errors and omissions in, and copyright infringement by, the Design Documents and shall cause
Architect/Engineer to 

  

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perform, at Architect/Engineer’s sole cost and expense, such architectural and engineering services as may be required to correct or remedy such errors
or omissions. The foregoing shall be in addition to, and not in limitation of, any other rights that Owner may have hereunder or at law or in equity. 
  
 (e) Contractor shall indemnify Owner against any penalties and liability of every kind for Contractor’s breach of the covenants
contained in this Section 8.2.8 whether such penalty or liability shall arise before or after Original Project Final Completion or Expansion Project Final Completion (as applicable). The provisions of this Section 8.2.8 shall
survive termination of this Agreement. 
  
 8.2.9 Provision of Owner Drawings. All drawings, specifications, documents and designs provided by Owner to Contractor shall remain the sole property of Owner. 
  
 8.2.10 Further Drawings. Contractor shall provide the Owner’s Representative and the
Owner’s Lenders with any additional copies of Design Information, as reasonably requested by the Owner’s Representative. 
  
 8.2.11 Design Responsibility for Drawings. Where any part of the Work has been designed by or on behalf of Owner, including,
but not limited to, the Drawings and Specifications prepared by Owner’s Consultants, and that design has been included in the Original Project Guaranteed Maximum Price Premises and Assumptions or Expansion Project Guaranteed Maximum Price
Premises and Assumptions (as applicable), Contractor shall check the design and confirm in a timely manner that it conforms to the Original Project Guaranteed Maximum Price Premises and Assumptions or Expansion Project Guaranteed Maximum Price
Premises and Assumptions (as applicable). 
  
 8.2.12 Return of Design Information and Other Documents. At the completion of this Contract or, at Owner’s election, the portion of this Contract relating to the Original Project or Expansion Project (as applicable),
Contractor shall hand over to Owner all Design Information in its or its Subcontractors’ or Vendors’ possession (or related only to the Original Project or Expansion Project if requested by Owner) and return to Owner all documents,
drawings, specifications and designs provided by Owner under this Contract (or related only to the Original Project or Expansion Project if requested by Owner). 
  
 8.2.13 Drawings from Subcontractors. Contractor shall include in each Subcontract a
requirement that the Subcontractor, at its own cost and expense, must furnish all Design Information within the scope of such Subcontract. The Owner Representative’s review of such Design Information delivered by the Subcontractor shall not
relieve Contractor or the Subcontractor from responsibility for deviations from the Contract Documents, Specifications and/or Drawings, nor shall it relieve Contractor from 

  

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responsibility for errors and/or omissions. Contractor shall make, and shall cause Subcontractor to make, any changes required by the Owner’s
Representative. 
  
 ARTICLE IX. 
 SUBCONTRACTORS AND VENDORS 
  
 9.1 Subcontractors and Vendors. Except as otherwise provided in this Agreement, Contractor shall be responsible for the performance of
Subcontractors and Vendors of every tier to the same extent as if performed by Contractor on a direct basis, including coordination of those portions of the Work performed by Subcontractors and Vendors. 
  
 9.2 Consent To Use Proposed Subcontractors and Vendors. 
  
 9.2.1 To the extent practicable, Contractor shall
propose a minimum of three (3) qualified lump sum or cost of the work plus a fee bidders for each element of the Work to be performed by Subcontractors and Vendors (including those who are to furnish materials or equipment fabricated to a
special design). Owner shall, within five (5) calendar days after receipt thereof, reply to Contractor stating whether or not Owner has a reasonable objection to any such proposed person or entity. Owner’s failure to reply in writing to
Contractor’s proposed list within ten (10) calendar days after the receipt thereof shall constitute Owner’s acceptance of such list. Owner’s consent with respect to any Subcontractor or Vendor pursuant to this Article 9
shall not in any way relieve the Contractor from its obligations to fully manage, administer and assure that the Subcontractor complies with the requirements of the Contract Documents, including all dates identified in the Original Project Schedule
or Expansion Project Schedule (as applicable). 
  
 9.2.2 Contractor shall analyze all of the bids for each element of the Work and shall make a recommendation to the Owner as to which bid should be selected. Owner shall then make the selection with assistance from the Contractor
within fifteen (15) days following receipt of Contractor’s recommendation (and if Owner fails to respond within said fifteen (15) day period, then the bid recommended by Contractor shall be deemed approved by Owner). In the event the
Subcontractor chosen by Owner is different from the Subcontractor recommended by Contractor, and the bid amount from the Subcontractor chosen by Owner exceeds by the lesser of 5% or US$25,000 the bid amount from the Subcontractor recommended by
Contractor, such bid difference in excess of the lesser of said 5% or US$25,000 shall be cause for an increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) (or Owner may choose to
apply amounts from the Original Project Owner Contingency or Expansion Project Owner Contingency (as applicable) without an increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price, respectively)
provided that the bid recommended by Contractor was substantially in compliance with the requirements of the Contract Documents. 
  

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 9.3 Award of Subcontracts and Purchase Orders. Contractor shall furnish Owner and Owner’s
Lenders with a copy of Contractor’s proposed forms for use as subcontracts and purchase orders (which includes professional services agreements) for Owner’s review and approval prior to Contractor’s use thereof, and Contractor shall
only enter into those subcontracts approved by Owner in writing, without material modification; provided, however, subcontracts and purchase orders which do not have a contract value in excess of HK$2,000,000 individually, and otherwise are in
accordance with the Contract Documents, shall not require Owner’s prior written approval. Failure by Owner to disapprove in writing a subcontract or purchase order submitted by Contractor within fifteen (15) days after Owner’s receipt
thereof shall be deemed to constitute Owner’s approval of such subcontract or purchase order. Contractor shall furnish to Owner a copy of each subcontract and purchase order it enters into in connection with the Work within ten
(10) calendar days after execution of such subcontract or purchase order. All subcontracts and purchase orders shall require all Subcontractors and Vendors to assume toward Contractor the same legal obligations and responsibilities which
Contractor assumes toward Owner in this Contract, including requiring the indemnitees provided in Article 14 hereof, except as specifically provided otherwise in the Contract Documents or approved by Owner in writing. Owner recognizes
that under certain circumstances it will not be possible to obtain all such flow-down provisions (including the indemnitees) in a particular subcontract or purchase order. Owner agrees to review in good faith a request by Contractor for a waiver of
the requirement that a particular subcontract or purchase order must include any such flow-down provision that Contractor is unable, using its best efforts, to so obtain. All subcontracts and purchase orders shall (a) require that the
subcontract may not be assigned by the Subcontractor or Vendor but shall permit the assignment of the subcontract or purchase order by Contractor to Owner or a third party designated by Owner, including Owner’s Lenders, as provided in
Section 9.8 and Article 21 of this Agreement, (b) require that the Subcontractors and Vendors shall not have the right to assign the whole or any part of the benefit of the subcontracts or purchase orders or to sublet or
further subcontract the whole or any part of the Work to be performed under the subcontract or purchase order without the prior written consent of Owner and Contractor, (c) provide that any warranties contained or referenced therein shall run
to the benefit of and be enforceable by Owner and Owner’s Lenders, (d) provide for the applicable retentions specified in Section 5.6.3. Contractor shall establish and implement a system to monitor Subcontractors and Vendors to
ensure that they comply with the requirements of this Section 9.3. Contractor shall not waive or fail to exercise any material or significant right or remedy under any subcontract or waive any material or significant default under any
subcontract or purchase order with a contract value in excess of HK$500,000 without Owner’s prior written approval. Contractor, the Subcontractors and the Vendors shall be subject to audit by the Owner’s Representative to ensure compliance
with the requirements of this Agreement. If any Subcontractor or Vendor is found to be assigning, subletting or subcontracting all or any part of the Work under its subcontract or purchase order without the prior approval of Owner, Contractor shall
immediately notify Owner thereof and shall, if the circumstances are such that the Work has been or is likely to be affected, as determined by Owner in its sole discretion, either remedy such situation (i.e., put an end to such assignment,
subletting or 

  

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subcontracting) or remove the offending Subcontractor or Vendor from the Project (and if Contractor fails to effect such remedy or removal, Owner shall have
the right to remove the offending Subcontractor or Vendor from the Project), unless Owner shall agree otherwise in writing. In such case, Contractor shall be fully responsible for finding a suitable replacement, and the costs involved in making such
replacement shall not be the basis for a Change Order, increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) or extension of the Contract Time. 
  
 9.4 Subcontractors and Vendors Designated By Owner. Contractor shall
not be required to contract with a Subcontractor or Vendor to whom Contractor has a reasonable objection, provided that the reason for such objection is identified to Owner in writing within five (5) calendar days of Owner’s designation
thereof. 
  
 9.5 Payments to Subcontractors from the
Contractor. Contractor agrees to pay each Subcontractor and Vendor within five (5) calendar days of receipt of each progress payment from Owner an amount equal to the amount received by the Contractor from Owner for the purpose of paying
the related Subcontractor or Vendor, as set forth in the applicable Application for Progress Payment. Contractor further agrees to require each Subcontractor to make similar payments to its Subcontractors and Vendors. The obligation of Contractor to
pay Subcontractors and Vendors (and their obligation to pay their Subcontractors and Vendors) is an independent obligation from the obligation of Owner to make payment to Contractor. Owner shall have no obligation to pay or to see to the payment of
any monies to any Subcontractor or Vendor. 
  
 9.6
Subcontractor and Vendor Replacements. Contractor shall not replace any Subcontractor or Vendor who has been approved by Owner, unless Owner gives prior written approval to the replacement, which approval shall not be unreasonably withheld or
delayed. 
  
 9.7 Communications With Subcontractors and
Vendors. In cooperation with, and upon notice to Contractor, Owner and Owner’s Lenders shall have the right at any time and from time to time to contact Contractor’s Subcontractors and Vendors to discuss the progress of their portion
of the Work. Contractor shall have the right to be present at the time of any such direct communications, excepting only if Contractor is in default under the Contract or unreasonably refuses to attend meetings after Owner has given Contractor
reasonable advance notice and opportunity to be present. Notwithstanding such rights of direct communication, Contractor shall be responsible and liable to Owner for all acts or omissions of Subcontractors and Vendors and their respective agents and
employees and any other person performing any of the Work under an agreement with Contractor or any Subcontractor or Vendor. 
  
 9.8 Assignment. Contractor hereby assigns to Owner all its interest in all subcontract agreements and purchase orders now existing or hereafter
entered into by Contractor for performance of any part of the Work, which assignment will be effective only 

  

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upon (a) the termination by Owner of this Agreement or the portion of the Work to which the applicable subcontracts or purchase orders relate or
(b) the occurrence of any event described in Section 17.1.2.1, and acceptance by Owner in writing of such assignment, and only as to those subcontract agreements and purchase orders that Owner designates in said writing. Such
assignment may not be withdrawn by Contractor prior to expiration of the Original Project Defects Liability Period or Expansion Project Defects Liability Period (as applicable), and Owner may accept said assignment at any time after the termination
of this Agreement prior to expiration of the Original Project Defects Liability Period or Expansion Project Defects Liability Period (as applicable). Upon such acceptance by Owner: (i) Contractor shall promptly furnish to Owner the originals or
copies of the designated subcontract agreements and purchase orders, and (ii) Owner shall only be required to compensate the designated Subcontractor(s) or Vendor(s) for compensation accruing to same for Work done or materials delivered from
and after the date as of which Owner accepts assignment of the subcontract agreement(s) or purchase order(s) in writing (and Contractor shall not be responsible and Owner shall indemnify and hold Contractor harmless for such Work done or materials
delivered from and after such date or for compensating such Subcontractor(s) or Vendor(s) therefor). All sums due and owing by Contractor to the designated Subcontractor(s) or Vendor(s) for Work performed or material supplied prior to the date as of
which Owner accepts in writing the subcontract agreement(s) or purchase order(s), and all other obligations of Contractor accruing prior to Owner’s written acceptance of such assignment, shall constitute a debt and an obligation solely between
such Subcontractor(s) or Vendor(s) and Contractor, and Owner shall have no liability with respect such sums or any other obligations of Contractor. It is further agreed that all subcontract agreements and purchase orders shall provide that they are
freely assignable by Contractor to Owner and Owner’s assigns (including Owner’s Lenders) under the terms and conditions stated in this Section 9.8 and that all such Subcontractors and Vendors shall continue to perform their
Work for Owner (or Owner’s Lenders as the case may be) pursuant to the terms of the respective subcontract or purchase order. Owner agrees not to accept such assignment solely for the purpose of intentionally causing Contractor harm and in bad
faith. 
  
 ARTICLE X. 
 WARRANTY OBLIGATIONS 
  
 10.1 Contractor’s Warranty. Contractor represents and warrants to Owner that (a) the Work, whether performed by Contractor’s own
personnel or by any Subcontractors or Vendors, shall be first class in quality, free from all defects whatsoever (including, without limitation, patent, latent or developed defects or inherent vice), commensurate with construction practices and
quality applicable to first class projects associated with luxury resorts, and in strict conformance with the Contract Documents (including, but not limited to, the Original Project Guaranteed Maximum Price Premises and Assumptions or Expansion
Project Guaranteed Maximum Price Premises and Assumptions (as applicable)), and (b) all materials, appliances, mechanical devices, equipment and supplies incorporated into the Work shall be new and of such quality to strictly meet or exceed the
Specifications and requirements of the Contract Documents. If requested by Owner at any time and from 

  

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time to time, Contractor will furnish satisfactory evidence to Owner as to the kind and quality of materials, appliances, mechanical devices, equipment and
supplies. All Work not conforming to the requirements of this Section (including, but not limited to, substitutions or deviations not properly approved and authorized by Owner in writing) shall be considered defective. 
  
 10.2 Contractor’s Defects Liability Period and Other Warranty
Periods. The “Original Project Defects Liability Period” shall commence upon the issuance of the Original Project Certificate of Substantial Completion for the Original Project Work taken as a whole in accordance with this Agreement
and shall extend for a period of one (1) year from the date of issuance of such Certificate. The “Expansion Project Defects Liability Period” shall commence upon the issuance of the Expansion Project Certificate of Substantial
Completion for the Expansion Project Work taken as a whole in accordance with this Agreement and shall extend for a period of one (1) year from the date of issuance of such Certificate. A separate warranty shall exist for ten (10) years in
the case of watertightness and leakage, as provided in Section 10.4, and other warranties shall apply for such periods as are set forth in the applicable manufacturer’s warranties or as may be required by applicable Laws. If any
major repair or replacement is made or other major corrective work or service is performed pursuant to any warranty obligation under this Contract during the Original Project Defects Liability Period or Expansion Project Defects Liability Period (as
applicable), the applicable warranty for the related repair, replacement or corrective work shall be automatically extended by one (1) year from the date of completion of such repair, replacement or corrective work, but in no event shall the
total of all extensions with respect to such particular warranty exceed two (2) years. Nothing contained in this Article 10 shall be construed to establish a period of limitation with respect to other obligations which Contractor
might have under the Contract Documents or under applicable Law, in equity or otherwise, or reduce the period of any other similar warranty or guaranty that may apply at law, in equity or otherwise to the Work. Contractor shall ensure that all
warranties from Subcontractors and Vendors in respect of subcontracted work or the supply of any materials forming a part of the Work that extend beyond the Original Project Defects Liability Period or Expansion Project Defects Liability Period (as
applicable) are capable of being assigned by Contractor to Owner, and Contractor shall, within fourteen (14) days after the earlier to occur of the termination of this Agreement or the expiration of the Original Project Defects Liability Period
or Expansion Project Defects Liability Period (as applicable), assign the benefit of all such warranties to Owner. Contractor shall remain liable and obligated to enforce such warranties on behalf of Owner until the end of the Original Project
Defects Liability Period or Expansion Project Defects Liability Period (as applicable), even if such warranties extend beyond the end of the Original Project Defects Liability Period or Expansion Project Defects Liability Period (as applicable).

  
 10.3 Compliance With Contract Documents. Upon receipt
of Owner’s written notice at any time during the course of the Work, during the Original Project Defects Liability Period or Expansion Project Defects Liability Period (as applicable) or during any other warranty period, and during any longer
period of time as may be prescribed by any 

  

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applicable Laws or other applicable terms, Contractor shall promptly perform all corrective services (including, but not limited to, furnishing all labor,
materials, equipment and other services at the Site and elsewhere) to Owner’s satisfaction as may be necessary to remedy any defective workmanship or omissions in the Contractor’s Work, including, but not limited to, promptly correct or
replace any Work rejected by Owner in accordance with the Contract Documents or which is incomplete, defective or fails to conform to the Contract Documents, whether observed before or after Original Project Final Completion or Expansion Project
Final Company of the applicable portion of the Work and whether or not fabricated, installed, or completed. When any defects, omissions, corrective services, Original Project Punch List Items or Expansion Project Punch List Items (as applicable) or
other faults which Owner may have required Contractor to make good shall have been satisfactorily completed, Owner shall, upon request, issue a written statement to that effect, which shall not be unreasonably withheld or delayed, and completion of
making good such defects, omissions, corrective services, Original Project Punch List Items or Expansion Project Punch List Items (as applicable) or other faults shall be deemed for all purposes under this Agreement to have taken place on the date
of such written statement. Contractor’s compliance with its obligations as stated in this Article 10, and Owner’s acceptance of such corrective services, shall at all times be determined by ascertaining whether Contractor has
achieved strict compliance to Owner’s reasonable satisfaction with both the written and reasonably inferable requirements contained in the Contract Documents. 
  
 10.4 Warranty Costs. All costs incurred by Contractor in fulfilling Contractor’s remedial defects liability
obligations and/or warranty obligations as set forth on this Article 10 shall be at Contractor’s sole cost and expense. Contractor shall also, as part of Contractor’s warranty and guarantee, repair or replace any other damaged
components, material, finishes, furnishings and other Work or portions of the Project or other property damaged, affected or otherwise made necessary by or resulting from such defective, non-conforming or incomplete Work, to return the same to their
original condition. In addition, and notwithstanding anything to the contrary in this Agreement, if within ten (10) years after Original Project Substantial Completion or Expansion Project Substantial Completion (as applicable) any portion of
the respective Original Project Work or Expansion Project Work (including, but not limited to, any roof and any walls) is not watertight and leakproof at every point and in every area (except where leaks can be attributed to damage to such Work
proximately caused by extraordinary, external forces beyond Contractor’s control and which Contractor could not reasonably have anticipated), Contractor shall, immediately upon notification by Owner of water penetration, determine the source of
water penetration and, at Contractor’s own expense, do any work necessary to make such Work watertight. 
  
 10.5 Timeliness of Corrective Services. Contractor shall use all reasonable efforts to fully perform all warranty and corrective services to
Owner’s satisfaction within five (5) calendar days of the receipt of Owner’s written notice of defective workmanship. If the corrective services require more than five (5) calendar days for completion, Contractor shall submit,
within five (5) calendar days of receipt of Owner’s written notice, a comprehensive written proposal itemizing all corrective actions necessary which Contractor 

  

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is prepared to and shall immediately undertake and diligently pursue to enable the Work to achieve strict compliance with the Contract Documents, including
the latest Drawings and Specifications. In performing such corrective Work, Contractor shall perform its Work so as to cause the least inconvenience and disruption to Owner’s business which may require performance of Work at hours when
Owner’s business is least active. Additionally, the provisions of Section 7.6 and 7.7 of this Agreement relating to cooperation with Owner, access, avoidance of disruption and related matters as set forth therein shall also
apply to the performance of any warranty related work. 
  
 10.6
Warranty Survival. Contractor’s Original Project Defects Liability Period and Expansion Project Defects Liability Period obligations and other warranty obligations set forth in this Article 10 shall apply to Work done by
Subcontractors or Vendors, as well as to Work done by direct employees of Contractor, and such provisions shall survive acceptance of the Work and survive any termination of the Contract and Contractor shall be responsible to fully indemnify and
hold Owner harmless from any and all liens, claims, lawsuits, costs and expenses which may arise out of the failure of the Contractor to fulfill its warranty obligations pursuant to this Contract. 
  
 10.7 Owner’s Right To Correct. In the event Contractor fails to
timely correct incomplete, nonconforming or defective Work following Owner’s written notice described in Section 10.5 above, Owner shall have the right to correct or arrange for the correction of any defects or omissions in the
Work. The Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price shall be reduced by the amount of all costs incurred by Owner in correcting such defective Original Project Work or Expansion Project Work
respectively, including, but not limited to, additional costs for redesigns by the Architect/Engineer and other design consultants, replacement contractors, materials, equipment and all services provided by Owner’s personnel; provided that if
the unspent balance of the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) is insufficient to cover such amount, then, at Owner’s election, Contractor shall on demand pay the difference to
Owner, or Owner shall withhold and offset all costs incurred during any such corrective work against any funds which are otherwise due or which may become payable to the Contractor. If payments then or thereafter due to Contractor are not sufficient
to cover such amounts, Contractor shall on demand pay the difference to Owner. 
  
 10.8 Owner’s Right to Supplement Work of Contractor. If the Contractor violates or breaches any of the terms, conditions or covenants of the Contract, then Owner may, without prejudice to any other remedy
it may have and following the expiration of any applicable cure periods, provide such reasonable labor and materials as are reasonably necessary to remedy such deficiency including the right to hire another contractor to supplement the Work of the
Contractor and deduct all costs thereof from any money due or thereafter becoming due to the Contractor and reduce the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) by all such amounts. If
the unspent balance of the Original Project Guaranteed Maximum Price or 

  

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Expansion Project Guaranteed Maximum Price (as applicable) is insufficient to cover such amount, Contractor shall on demand pay the difference to Owner.

  
 10.9 Acceptance of Non-Conforming Work. Owner may, in
its sole discretion, elect to accept a part of the Work which is not in accordance with the requirements of the Contract Documents. In such case, the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as
applicable) shall be reduced as appropriate and equitable. Owner’s acceptance of any non-conforming Work shall not waive or otherwise affect Owner’s right to demand that Contractor correct any other defects or areas of non-conforming Work.

  
 10.10 Warranty Exclusions. Contractor’s warranty
obligations shall not apply to defects caused by ordinary wear and tear, insufficient maintenance or improper operation or use by Owner. 
  
 10.11 Written Guaranty. At Owner’s request, Contractor shall require Subcontractors and Vendors to enter into a warranty agreement directly
with Owner in a form reasonably acceptable to Owner. Such guarantees and warranties to be provided by Subcontractors or Vendors shall be in writing on the letterhead of the respective Subcontractor or Vendor, shall be in form and substance
reasonably satisfactory to Owner, and shall be signed jointly by Contractor and such Subcontractor or Vendor. The ten (10) year Contractor warranties specified in Section 10.2 as to watertightness and leakage shall be in form and
substance reasonably satisfactory to Owner and shall also be in writing on Contractor’s letterhead and signed by Contractor (the parties acknowledging that the warranty of Contractor with respect to the Original Project Defects Liability Period
and Expansion Project Defects Liability Period (as applicable) shall be governed by the provisions of this Agreement without a separate written warranty). Copies of all Subcontractor and Vendor guarantees and warranties, as well as the original
Contractor’s watertightness and leakage warranty, shall be furnished to Owner upon Substantial Completion. Prior to the expiration of the Original Project Defects Liability Period or Expansion Projects Defects Liability Period (as applicable)
and as a condition to the Original Project Final Payment or Expansion Project Final Payment, respectively, Contractor shall assign to Owner all applicable Subcontractor and Vendor guarantees and warranties and deliver to Owner the originals thereof.
Owner shall, in addition to the guarantees and warranties provided in this Article 10, also have the benefit of, and Contractor shall assign to Owner in form and substance satisfactory to Owner, all warranties, service life policies,
indemnitees and guarantees with respect to any and all materials, appliances, mechanical devices, supplies and equipment incorporated into the Original Project Work or Expansion Project Work (as applicable) and given by the manufacturer, retailer,
or other supplier, which shall be supplied and assigned to Owner promptly after such is received by or becomes available to Contractor and as a condition to Original Project Final Payment or Expansion Project Final Payment, respectively. Further, at
Owner’s request, after the expiration of the Defects Liability Period, Contractor shall assist Owner in enforcing all such warranties, guarantees, policies and indemnitees. 
  

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 ARTICLE XI. 
 SCHEDULING, DELAYS AND ACCELERATION 
  
 11.1 Owner’s Right to Modify. Notwithstanding the Original Project Schedule or Expansion Project Schedule, Owner has the right, upon notice to Contractor, to modify or otherwise change the sequence of the
Work and Contractor shall comply therewith and adjust schedules accordingly. If Contractor believes such modification or change causes a delay or acceleration in the completion of the Work, Contractor shall provide written notice to Owner in
accordance with Section 11.6 below. Any such modifications or changes in sequence applies only to scheduling and shall not be construed to mean a change in the method or means employed by Contractor for the execution of the Work.

  
 11.2 Project Schedule. Within five (5) days after
receipt of the Original Project Notice to Proceed or Expansion Project Date of Commencement (as applicable), Contractor shall furnish a detailed update of the Original Project Schedule attached hereto as Attachment 2 of Exhibit B or
Expansion Project Schedule attached hereto as Attachment 5 of Exhibit B describing the activities to be accomplished and their dependency relationships, for approval by Owner. The Original Project Schedule shall include an agreed upon
design schedule setting forth time periods for Contractor to require Architect/Engineer to produce Drawings for the Original Project Work, time periods when Owner’s Consultants and Owner’s Contractors on the Original Project must provide
their respective documents and services, and an agreed upon construction schedule setting forth the Original Project Interim Milestone Dates. The Expansion Project Schedule shall include an agreed upon design schedule setting forth time periods for
Contractor to require Architect/Engineer to produce Drawings for the Expansion Project Work, time periods when Owner’s Consultants and Owner’s Contractors on the Expansion Project must provide their respective documents and services, and
an agreed upon construction schedule setting forth the Expansion Project Interim Milestone Dates. Contractor’s performance will be measured against the Original Project Schedule or Expansion Project Schedule (as applicable). The Original
Project Schedule and Expansion Project Schedule (and any revisions thereto) shall be updated and revised at appropriate intervals as reasonably required by Owner or the current and projected conditions of the Original Project Work or Expansion
Project Work (as applicable) and Original Project or Expansion Project (as applicable), shall designate those items on the critical path of the Original Project Work or Expansion Project Work (as applicable), shall be related to the entire Original
Project or Expansion Project (as applicable) to the extent required by the Contract Documents, shall indicate dates necessary to vacate various work areas, and shall provide for expeditious and practicable execution of the Work. 
  
 11.3 Schedule Updates. Contractor shall submit a “Schedule
Update” along with each monthly Application For Progress Payment for comparison to the Original Project Schedule or Expansion Project Schedule (as applicable). The first Schedule Update shall be dated and identified as “Schedule
Update No. 1” and shall identify the then current status of all major Original Work or Expansion Work activities (as applicable) identified in the Original Project Schedule or Expansion Project Schedule (as applicable). All Schedule

  

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Updates shall include a comprehensive narrative setting forth (i) actual activity completion dates, (ii) the effect on the Original Project
Schedule or Expansion Project Schedule (as applicable) of any delays in any activities in progress and/or the impact of known or suspected delays which are expected to effect future Work, (iii) the effect of Changes on the Original Project
Schedule or Expansion Project Schedule (as applicable), (iv) all actual and potential variances between latest Schedule Update and probable actual completion dates (including completion dates related to the Contract Time and/or relevant
Original Project Interim Milestone Dates or Expansion Project Interim Milestone Dates); (v) all Work activities not started or completed in accordance with the Original Project Schedule or Expansion Project Schedule (as applicable), and
(vi) recommendations of specific Recovery Plans to Owner which may be necessary to achieve the Contract Time and/or relevant Original Project Interim Milestone Dates or Expansion Project Interim Milestone Dates. All subsequent Schedule Updates
shall be dated and numbered sequentially. In addition, each Schedule Update shall be clearly labeled to state the effective date of the current status information contained therein. 
  
 11.4 Events of Force Majeure. “Force Majeure” means fires, explosions, strikes being conducted on an
industry-wide basis and that are not limited to the Project, unusually adverse weather conditions, war (whether war be declared or not), hostilities, invasion, riot, civil insurrection, civil war, terrorist acts, ionising radiation, contamination by
radioactivity on the Site from any nuclear fuel, radioactive toxic explosive or nuclear explosive, epidemics, quarantine, plague, and any other event beyond the reasonable control of Contractor (other than bad weather generally or insufficiency of
funds, except to the extent such insufficiency is due to the failure of Owner to pay Costs of the Work pursuant to an approved Application for Progress Payment). “Force Majeure Delay” means a delay due to Force Majeure that, in each
case, (a) materially adversely affects the performance by Contractor of its obligations hereunder, (b) based on Contractor’s extensive experience in constructing projects of similar scope and complexity in similar types of locations
and Contractor’s representations contained in the Contract Documents, is not reasonably foreseeable and is beyond Contractor’s reasonable control, (c) despite the exercise of reasonable diligence, cannot be prevented, avoided or
removed by Contractor and is not attributable to the negligence, willful misconduct or bad faith of Contractor, and (d) is not the result of the failure of Contractor to perform any of its obligations under any of the Contract Documents.
Notwithstanding the foregoing, a Force Majeure Delay shall not be deemed to have occurred unless Contractor has notified Owner of such occurrence of Force Majeure within three (3) days after such occurrence and has provided Owner with the
details of such event and the length of the anticipated delay within an additional five (5) days thereafter. During the occurrence and continuance of a Force Majeure Delay, the affected party shall be excused from performance of its obligations
under this Agreement to the extent the Force Majeure prevents such party from performing such obligations, except for Owner’s obligation to make timely payment of amounts properly due and payable to Contractor. 
  

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 11.5 Owner Delay. As used in this Agreement, the term “Owner Delay” means any
actual delay in the critical path of Contractor’s Work that is caused by Owner, Owner’s Lenders or any of Owner’s Consultants or Owner’s Contractors as a result of their acts or omissions, but only to the extent not the fault of
Contractor or any Subcontractor or Vendor or any party for which any of them is responsible or liable at law or under the Contract). Owner and Contractor agree to use best efforts to provide all information and documentation reasonably required by
Owner’s Lenders in order for Owner’s Lenders to render approvals under this Agreement. In addition to and without derogation of Contractor’s rights with respect to extensions of the Contract Time set forth in Section 11.6,
Owner may, in its sole and absolute discretion, at any time and from time to time, whether before or after Original Project Final Completion or Expansion Project Final Completion, prospectively or retrospectively, and for any reason, whether for
Owner’s sole benefit or otherwise (including, without limitation, in connection with a delay caused solely by Owner), grant to Contractor an extension of the time specified in this Agreement for the performance by Contractor of any of its
covenants or obligations under this Agreement or any of the other Contract Documents (including, without limitation, the Original Project Guaranteed Date of Substantial Completion or Expansion Project Guaranteed Date of Substantial Completion (as
applicable) and the Original Project Interim Milestone Dates or Expansion Project Interim Milestone Dates (as applicable)). 
  
 11.6 Extensions of Time and Guaranteed Maximum Price Increases for Delay. 
  
 11.6.1 To the extent the Contractor is delayed at any time in the progress of the Work by a
Permissible Delay, then the Contract Time shall be reasonably extended and the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) increased (or a portion of the Owner Contingency applied if
available), if at all, in accordance with the procedures described in this Section 11.6 and in Article 18 below. Such extension and/or increase shall be pursuant to a Change Order if the delay is a Permissible Delay or where
otherwise agreed by Owner and Contractor. In all other cases, the extension and/or increase shall be pursuant to a Construction Change Directive. 
  
 11.6.2 Notwithstanding any other provision of the Contract Documents, any item that cannot be demonstrated as being on or affecting
the critical path of the Work shall not result in an extension of time to perform the Work or an increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) in the event such item is
delayed. Further, to the extent any Permissible Delay could have been prevented or reduced if Contractor had, consistent with the terms of the Contract Documents, performed its duties and responsibilities under the Contract Documents, such delay
will not entitle Contractor to an extension of the Contract Time and/or increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) (except for that portion, if any, of such Permissible
Delay which could not have been mitigated or reduced consistent with the 

  

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foregoing and subject to the other requirements of the Contract Documents, including this Section 11.6). 
  
 11.6.3 Extensions of the Contract Time for the Work
and/or an increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) will be authorized by Owner only if (a) Contractor has been actually and necessarily delayed in meeting the
Original Project Guaranteed Date of Substantial Completion or Expansion Project Guaranteed Date of Substantial Completion (as applicable) by a cause which constitutes a Permissible Delay, or a Change to the Work initiated by the Owner; (b) the
completion of the Work by the applicable Original Project Interim Milestone Date or Expansion Project Interim Milestone Date (as applicable) or the total Original Project Work or Expansion Project Work by the Original Project Guaranteed Date of
Substantial Completion or Expansion Project Guaranteed Date of Substantial Completion, respectively, is actually and necessarily delayed by such cause; and (c) Contractor has met any notice requirements set forth in the Contract Documents for
it to be entitled to any extension of time or increased costs. All extensions of time and/or increases in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) to which Contractor is entitled
hereunder will be confirmed by Change Order. 
  
 11.6.4 The period of any extension of time for the delay shall be only that which is necessary to make up the time actually lost for a Work item or items identifiable on the Original Project Schedule or Expansion Project Schedule as
being on or affecting the critical path at the time in which the delay occurs. 
  
 11.6.5 The amount of increase, if any, in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum
Price (as applicable) due to a delay shall be equal to the additional cost actually, reasonably and necessarily incurred by Contractor in Cost of the Work items (a) as a result of continuing to maintain dedicated personnel, materials and
equipment at the Site at Owner’s request during such delay and (b) other reasonable and unavoidable Costs of the Work, if any, which are directly related to any subsequent re-mobilization of the delayed Work caused solely by such delay,
but (as to both of the foregoing (a) and (b)), only if and to the extent such delay exceeds a period of thirty (30) days in the aggregate following commencement of the Work, and to the extent such actions are necessary, if at all, to be
performed by Contractor to maintain the extended Contract Time and Original Project Schedule or Expansion Project Schedule (as applicable) after taking into account any extension of time as provided for in this Section 11.6. 

 
 11.6.6 Contractor shall not be entitled to receive
a separate extension of time and/or an increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) for each of several causes of delay operating concurrently but only for the actual period
of delay in completion of the Work irrespective of the number of causes contributing to produce such delay. If one of several causes of delay operating concurrently results from any act, fault or omission of Contractor or 

  

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Subcontractor or for which Contractor or Subcontractor is responsible, and would of itself, irrespective of the concurrent causes, have delayed the Work, no
extension of time and/or an increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) will be allowed to the extent of the period of delay resulting from such act, fault or omission.
Further all such extensions and increases shall be netted out with any reductions in Contract Time and/or Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable), before implementing any such extension
or increase. 
  
 11.6.7 As a condition
precedent to the granting of an extension of time or an increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable), Contractor shall use best efforts to give Owner immediate written notice
(but in any event shall give such written notice to Owner within thirty (30) calendar days) after the time when Contractor knows of any cause which might result in delay, for which it may claim an extension of time and/or an increase in the
Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable), including those causes of which Owner has knowledge, specifically stating in such notice that an extension and/or an increase in the Original
Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) is or may be claimed, and identifying such cause and describing, as fully as practicable, at that time, the nature and expected duration of the delay and
its effect on the completion of that part of the Work identified in the notice. 
  
 11.6.8 Since the possible necessity for an extension of time and/or an increase in the Original Project Guaranteed Maximum Price or
Expansion Project Guaranteed Maximum Price (as applicable) may materially alter the scheduling plans, and other actions of Owner and since, with sufficient notice, Owner may, if it should so elect, attempt to mitigate the effect of a delay for which
an extension of time and/or an increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) might be claimed, the giving of written notice as required above is of the essence of
Contractor’s obligations hereunder and failure of Contractor to give written notice as required above shall be a conclusive waiver of an extension of time and/or an increase in the Original Project Guaranteed Maximum Price or Expansion Project
Guaranteed Maximum Price (as applicable) for the cause of delay in question. 
  
 11.6.9 It shall in all cases be presumed that no extension, or further extension, of time and no increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as
applicable) is due unless Contractor shall affirmatively demonstrate the extent thereof to the reasonable satisfaction of Owner. Contractor shall maintain adequate records supporting any claim for an extension of time and/or increase in the Original
Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable). 
  

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 11.6.10 Notwithstanding the provisions of this Section 11.6, if
pursuant to this Section 11.6 Contractor is entitled to an increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable), Owner shall have the right, in lieu of any increase, to
apply a portion of the Original Project Owner Contingency or Expansion Project Owner Contingency (as applicable and to the extent funds remain therein) to cover such increase in the Original Project Guaranteed Maximum Price or Expansion Project
Guaranteed Maximum Price (as applicable) due to such delay covered by this Section 11.6. 
  
 11.7 Limitations. Contractor agrees for itself and, to the fullest extent allowed by applicable Laws, for its Subcontractors, and will use its best
efforts to require each Subcontractor to agree, that it will make no claim or claims against the Site, Project, Owner (or any party affiliated or associated with Owner or any assets of Owner), or Owner’s Lenders for damages or losses incurred
as a result of or arising out of delays in the Work, including but not limited to any Permissible Delay, except as provided in Section 11.6. Contractor acknowledges that (a) an extension of the Contract Time, and/or (b) an
increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable), strictly in accordance with Section 11.6 above, shall be the sole and exclusive remedy for Contractor and all
Subcontractors and Vendors for all delays. Contractor agrees to accept such extensions at no additional cost to Owner (except as provided in this Section 11.7), and waives and relinquishes any right to separate claims of any kind for any
delays. Further, the limitations in Section 17.4 hereof shall also apply to any delay. 
  
 11.8 Recovery Plans. The Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) is based on
Contractor working as many hours as necessary to properly perform the Work and achieve the Original Project Schedule and Expansion Project Schedule requirements. “Recovery Plan” means a detailed narrative explanation clearly stating
the scope and extent of any and all resource loading, activity re-sequencing and other acceleration activities required for all affected elements of the Work to enable Contractor to either: (a) complete the respective Original Project Interim
Milestones or Expansion Project Interim Milestones by the respective Original Project Interim Milestone Dates or Expansion Project Interim Milestone Dates; or (b) obtain Original Project Substantial Completion or Expansion Project Substantial
Completion (as applicable) within the applicable Contract Time. 
  
 11.8.1 If Owner determines at any time based on reasonable evidence that Contractor is behind schedule or is otherwise in jeopardy of failing to complete any Original Project Interim Milestones or Expansion
Project Interim Milestones by the applicable respective Original Project Interim Milestone Dates or Expansion Project Interim Milestone Dates or the Work within the Contract Time, Owner shall issue a written notice to Contractor identifying areas of
concern and requiring that Contractor provide a Recovery Plan to Owner. 
  

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 11.8.2 Upon receipt of Owner’s notice, Contractor shall immediately undertake
all reasonably available steps to overcome or mitigate against the adverse effects of all delays identified by Owner. Contractor’s failure to undertake all reasonably available steps to mitigate the effects of such delays shall constitute a
waiver of Contractor’s right to claim relief for any schedule extensions and/or additional compensation to the extent that Contractor’s failure to act timely contributed to such delays. 
  
 11.8.3 Contractor shall, within seven
(7) calendar days after receipt of Owner’s notice, provide its Recovery Plan to Owner notwithstanding whether or not Contractor disputes responsibility for the cause(s) of such delays. 
  
 11.8.4 Within seven (7) calendar days after
submission of the Recovery Plan by Contractor, Owner shall advise Contractor in writing whether or not to proceed with the Recovery Plan as submitted, or in accordance with reasonable revisions thereto established by Owner. 
  
 (a) If the delay addressed by the Recovery Plan is a
Permissible Delay, such notice to proceed shall be by an agreed Change Order in accordance with Section 11.6 and Article 18 (and Contractor shall be entitled to request an increase in the Original Project Guaranteed Maximum Price
or Expansion Project Guaranteed Maximum Price (as applicable) in accordance therewith). As part of such notice, Owner shall have the right to require Contractor to work its own construction crews and Subcontractors and other personnel overtime, and
to direct Contractor to take all other necessary reasonable action, including, but not limited to, increasing the number of personnel and implementing double shifts (provided the same does not result in the Contractor breaching any applicable labor
laws or regulations in Macau). Such overtime work and other actions shall continue until such time as the Work has progressed so that it complies with the stage of completion required by the then most recently Owner approved Original Project
Schedule or Expansion Project Schedule (as applicable). 
  
 (b) If the delay addressed by the Recovery Plan is the result of any cause other than a Permissible Delay, such notice to proceed shall be by a Construction Change Directive in accordance with Section 11.6
and Article 18. As part of such notice, Owner shall have the right to require Contractor to work its own construction crews and Subcontractors and other personnel overtime, and to direct Contractor to take all other necessary action,
including, but not limited to, increasing the number of personnel and implementing double shifts (provided the same does not result in the Contractor breaching any applicable labor laws or regulations in Macau), all at no increase to the Original
Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable). Such overtime work and other actions shall continue until such time as the Work 

  

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has progressed so that it complies with the stage of completion required by the then most recently Owner approved Project Schedule. Additional costs incurred
due to such overtime work and other actions shall not result in any adjustment in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable). 
  
 11.8.5 Intentionally Omitted. 
  
 11.8.6 Contractor acknowledges that Owner,
Owner’s Consultants and Owner’s Contractors must perform certain work and other tasks in connection with the Project (including, without limitation, the installation of certain FF&E and the training of Owner’s personnel)
(collectively, “Owner’s Pre-Opening Work”), and that the Owner’s Pre-Opening Work is to be completed concurrently with the Original Project Substantial Completion or Expansion Project Substantial Completion (as
applicable), so that the Casino, Hotel and other portions of the Project intended to be open to the general public, may be opened to the general public concurrently with the Original Project Substantial Completion or Expansion Project Substantial
Completion (as applicable). Contractor further acknowledges that the ability of Owner, Owner’s Consultants and Owner’s Contractors to complete the applicable Owner’s Pre-Opening Work concurrently with the Original Project Substantial
Completion or Expansion Project Substantial Completion (as applicable) is dependent in part on Contractor’s achievement of certain Original Project Interim Milestones or Expansion Project Interim Milestones (as applicable) by a date that is
prior to the scheduled date of the Original Project Substantial Completion or Expansion Project Substantial Completion (as applicable) by a number of days that is not less than (i) in the case of the Original Project, the number of days between
the applicable Original Project Interim Milestone Dates and the Original Project Guaranteed Date of Substantial Completion specified in the Original Project Schedule and (ii) in the case of the Expansion Project, the number of days between the
applicable Expansion Project Interim Milestone Dates and the Expansion Project Guaranteed Date of Substantial Completion specified in the Expansion Project Schedule. If Contractor fails to achieve any Original Project Interim Milestone or Expansion
Project Interim Milestone by the applicable Original Project Interim Milestone Date or Expansion Project Interim Milestone Date, respectively, and, as a result, Owner determines based on reasonable evidence that Owner’s Pre-Opening Work will
not be completed concurrently with the then-scheduled date of Original Project Substantial Completion or Expansion Project Substantial Completion (as applicable) (as mutually agreed upon by Owner and Contractor), Owner shall have the right, but not
the obligation, to formulate its own recovery plan (an “Owner Recovery Plan”) stating the scope and extent of any and all resource loading, activity re-sequencing and other acceleration activities with respect to Owner’s
Pre-Opening Work necessitated by any such delay. Owner and Contractor agree to meet to consult with each other regarding the scope and implementation of any such Owner Recovery Plan. If the delay addressed by an Owner Recovery Plan is the result of
any cause other than a Permissible Delay, Contractor shall be liable to Owner for all costs and expenses incurred by Owner, Owner’s Consultants and Owner’s Contractors in preparing and implementing such Owner Recovery Plan. 
  

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 11.9 Accelerations for Owner’s Convenience 
  
 11.9.1 In the event Owner desires to accelerate the
Project Schedule for reasons other than delays caused by or attributable to the Contractor, Owner shall so notify Contractor in writing. 
  
 11.9.2 Upon receipt of such written instruction, Contractor shall require its personnel and its Subcontractors and Vendors to work
such overtime hours and/or to increase their respective work forces as are reasonably necessary to meet Owner’s acceleration goals. 
  
 11.9.3 In the event such an acceleration is ordered by Owner, Contractor shall be entitled to an adjustment in the Original Project
Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) determined in accordance with Article 18 of this Agreement. 
  
 11.10 Schedule Coordination 
  
 11.10.1 Contractor shall schedule and coordinate the performance of the Work by Contractor’s personnel, Subcontractors and
Vendors of any tier, and the performance of the Project-related work by Owner’s Consultants and Owner’s Contractors, in a manner that will enable Contractor to achieve Original Project Interim Milestones or Expansion Project Interim
Milestones by the respective Original Project Interim Milestone Dates or Expansion Project Interim Milestone Dates and completion within the Contract Time. Contractor acknowledges that at least a portion of the Work will be performed under joint
occupancy conditions at the Site. 
  
 11.10.2 Contractor shall cooperate with Owner, Owner’s Consultants and Owner’s Contractors so that both the Contractor’s Work and the work of others will progress smoothly with a minimum of disruptions and interference
to any party. 
  
 11.10.3 Contractor shall
schedule its Work and delivery of materials to comply with all reasonable requests and suggestions of Owner in order to maintain the Original Project Schedule or Expansion Project Schedule (as applicable) within the limitations of all existing Site
conditions and business operations of Owner. 
  
 11.10.4 Contractor shall use all best efforts to not utilize any labor, materials or means whose employment or utilization during the course of this Contract may tend to or in any way cause or result in strikes, work stoppages,
delays, suspension of Work or similar trouble by workman employed by its Subcontractors, or by any of the trades working in or about the Project and Site where Work is being performed under this Contract, or by other contractors or their
subcontractors pursuant to other contracts, or on any other project and project site or premises owned or operated by Owner. Any violation by Contractor of this requirement may be considered as proper and sufficient cause for declaring Contractor to
be 

  

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in default, and for Owner to take action against Contractor as set forth in the Contract Documents. 
  
 11.10.5 In case of disagreements or disputes
regarding the schedule of Work by Owner’s Consultants and Owner’s Contractors or unnecessary interference to the Work caused by lack of cooperation between Owner’s Consultants or Owner’s Contractors and Contractor, Contractor
shall fully cooperate to resolve any such disputes. In case of disagreements or disputes between two or more contractors, Owner shall be consulted and Owner’s decisions as to proper methods for coordinating the Work shall be final, subject to
any rights or remedies of Contractor under this Agreement or applicable Law. 
  
 11.11 Flow-Down Provisions 
  
 11.11.1 Contractor shall include the requirements of Sections 11.1, 11.6 and 11.7, Sections 11.9 through 11.13, Article 14, Section 17.4, Article 19,
Sections 23.2, 24.2 and 24.16, and any other provisions of this Agreement required by Owner, in all of its subcontracts and purchase orders. As to sub-tier subcontracts and sub-tier purchase orders, Contractor shall use
reasonable efforts to require Subcontractors and Vendors with agreements totaling in excess of HK$2,000,000 to include the requirements of the Sections enumerated above in all sub-tier subcontracts and sub-tier purchase orders. 
  
 11.11.2 Contractor shall be responsible to fully
indemnify and hold Owner harmless from any and all liens, claims, lawsuits, costs and expenses, including attorneys’ fees, which may arise out of either the failure of the Contractor to fulfill its obligations pursuant to this Article 11
and/or the Contractor’s failure to enforce the flow-down provisions as stated above. 
  
 11.12 Partial Occupancy Or Use. Owner may occupy or use any completed or partially completed portion(s) of the Work at any stage, provided that such occupancy and use shall not impede Contractor from completing
other portions of the Work. Notwithstanding any other provision of the Contract, any such partial occupancy or use shall not: (a) constitute final acceptance of any Work or be deemed Original Project Substantial Completion or Expansion Project
Substantial Completion of such Work, or (b) relieve Contractor of responsibility for loss or damage because of or arising out of defects in, or malfunctioning of, any Work, material, or equipment, or from any other unfulfilled obligations or
responsibilities under the Contract Documents; provided, however, Contractor shall not be liable for damage caused by Owner or Owner’s Contractors or from vandalism or for ordinary wear and tear resulting from such partial occupancy and use.
Contractor shall cooperate fully with Owner, as Owner may reasonably request, in all aspects of Owner’s partial use and occupancy of the Work and Project, including, but not limited to, scheduling, allocation of utilities, access and storage,
and all other arrangements. 
  
 11.13 Timely Completion.
Contractor agrees to prosecute the Work and to require all trade contractors to prosecute the Work in a timely and proper method and 

  

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manner so as to meet the dates reflected on the Original Project Schedule or Expansion Project Schedule (as applicable), including the Original Project
Guaranteed Date of Substantial Completion or Expansion Project Guaranteed Date of Substantial Completion. 
  
 ARTICLE XII. 
 SUBSTANTIAL AND FINAL COMPLETION 
  
 12.1 Substantial Completion Procedures and Requirements 
  
 12.1.1 Notice of Substantial Completion.
(A) “Original Project Substantial Completion” means the stage in the progress of the Original Project Work when (a) the Original Project is sufficiently complete in accordance with the Contract Documents and all
applicable Laws to enable Owner to fully occupy and utilize the same for all of its intended purposes and can be open to the general public; (b) all Original Project systems included in the Original Project Work for such portion of the Original
Project (including, but not limited to, all life safety systems) are operational and functioning as designed and scheduled; (c) all instruction of Owner’s personnel in the operation of the Original Project systems included in such Original
Project Work has been completed; (d) all final finishes within the Contract applicable to such Original Project Work are in place; and (e) such Original Project Work is otherwise satisfactory to Owner in accordance with the Contract
Documents. (B) “Expansion Project Substantial Completion” means the stage in the progress of the Expansion Project Work when (a) the Expansion Project is sufficiently complete in accordance with the
Contract Documents and all applicable Laws to enable Owner to fully occupy and utilize the same for all of its intended purposes and can be open to the general public; (b) all Expansion Project systems included in the Expansion
Project Work for such portion of the Expansion Project (including, but not limited to, all life safety systems) are operational and functioning as designed and scheduled; (c) all instruction of Owner’s personnel in the operation of
the Expansion Project systems included in such Expansion Project Work has been completed; (d) all final finishes within the Contract applicable to such Expansion Project Work are in place; and (e) such Expansion
Project Work is otherwise satisfactory to Owner in accordance with the Contract Documents. In general, the only remaining Work relating to such portion of the Original Project or Expansion Project (as applicable) shall be minor in nature, so that
Owner could occupy the building(s) comprising such portion of the Original Project or Expansion Project (as applicable) and fully utilize such building(s) on that date, and all elements are fully functional and operable as provided in the Contract,
and the Original Project Final Completion or Expansion Project Final Completion (as applicable) of such Work by Contractor would not materially interfere with, disrupt or hamper Owner’s use, occupancy or enjoyment of the Original Project or
Expansion Project (as applicable) to the extent completed, including the intended normal business operations of such portions of the Original Project or Expansion Project (as applicable), or detract from the aesthetic appearance of such portions of
the Original Project or Expansion Project (as applicable). Notwithstanding the foregoing, neither the Original Project Substantial Completion nor the Expansion Project Substantial Completion shall unreasonably prevent or delay the 

  

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performance of Owner’s Pre-Opening Work. Contractor shall request an inspection for purposes of the Original Project Substantial Completion and
Expansion Project Substantial Completion in writing when the Contractor considers that such portion of the Original Project or Expansion Project (as applicable) is substantially complete in accordance with all requirements in the Contract Documents.

  
 12.1.2 Procedures For Substantial
Completion. Procedures to be utilized to determine Original Project Substantial Completion and Expansion Project Substantial Completion shall be as follows: 
  
 12.1.2.1 Either party may initiate procedures for Original Project Substantial Completion or
Expansion Project Substantial Completion, but Owner shall not be required to make a determination and accept partial Original Project Substantial Completion or Expansion Project Substantial Completion unless Owner accepts physical possession of
such portion of the Original Project or Expansion Project (as applicable) for purposes of opening for business to the public (and upon such opening for business to the public, the Original Project Work or Expansion Project Work with respect to such
portion of the Project shall be deemed to have achieved Original Project Substantial Completion or Expansion Project Substantial Completion (as applicable) unless Original Project Substantial Completion or Expansion Project Substantial Completion
(as applicable)was determined to have occurred earlier pursuant to the provisions of this Section 12.1.2). The use or occupancy of a portion of the Project by Owner, Owner’s Consultants, Owner’s Contractors or Owner’s
other engineers or inspectors to inspect and/or correct defective workmanship pursuant to Article 10 of this Agreement or install FF&E or other work shall not be considered as use or occupancy for purposes of opening for business to the
public. 
  
 12.1.2.2 Unless waived by
Owner in writing, neither Original Project Substantial Completion nor Expansion Project Substantial Completion of any Work shall occur earlier than the date of all designated or required governmental certificates of occupancy and other permits,
inspections and certifications related to the occupancy or safety (as distinguished from gaming and other licenses required for the operation of the business to be conducted therein, which shall remain the sole responsibility of Owner to obtain) of
the portion of the Project relating to such Original Project Work or Expansion Project Work have been achieved and issued to Owner by the relevant governmental authority, and posted for the portion of the Original Project or Expansion Project (as
applicable) relating to such Work, by the relevant governmental authority (provided that a temporary certificate of occupancy (“TCO”) rather than a permanent certificate of occupancy may have been achieved and issued to Owner, and
posted, so long as the obtaining of a temporary, rather than a permanent, certificate of occupancy does not prevent any aspect of the portion of the Original Project or Expansion Project relating to such Work from being open to the general public).

  
 12.1.2.3 If Owner or Owner’s
Lenders disagree that either Original Project Substantial Completion or Expansion Project Substantial Completion has been 

  

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achieved, Owner shall provide the Contractor with an advisory opinion of the items which should be completed or corrected for purposes of Original Project
Substantial Completion or Expansion Project Substantial Completion (as applicable). Owner’s failure to advise Contractor of any items specified in the Contract Documents shall not alter the Contractor’s responsibility to complete all Work
necessary for Original Project Substantial Completion or Expansion Project Substantial Completion (as applicable) in accordance with the Contract Documents. 
  
 12.1.2.4 Upon receipt of Owner’s advisory opinion, Contractor shall complete and/or correct all listed items. Contractor shall
then submit its request to Owner for another inspection to determine Original Project Substantial Completion or Expansion Project Substantial Completion (as applicable). Such subsequent inspection or re-inspections to determine if the Work is
acceptable for purposes of Original Project Substantial Completion or Expansion Project Substantial Completion (as applicable) shall be made jointly by Owner and Contractor. 
  
 12.1.2.5 By no later than three (3) business days after the respective issuance of an Original
Project Certificate of Substantial Completion and an Expansion Project Certificate of Substantial Completion by Owner, the parties shall develop a final punch list which must be completed prior to the Original Project Final Completion and Expansion
Project Final Completion (as applicable). Such final punch list shall identify any incomplete or missing items (including, but not limited to, the clean up items described in Section 7.15.2) which Owner elected in its discretion to waive
for purposes of Original Project Substantial Completion or Expansion Project Substantial Completion (the items on such list with respect to the Original Project being, collectively, the “Original Project Punch List Items” and with
respect to the Expansion Project being, collectively, the “Expansion Project Punch List Items”). 
  
 12.1.2.6 Immediately prior to the issuance of an Original Project Certificate of Substantial Completion or an Expansion Project
Certificate of Substantial Completion (as applicable), Owner and Contractor shall jointly inspect and document the condition of the Original Project Work or Expansion Project Work, respectively, at the time of Owner’s initial possession to
determine and record its condition. Such inspection and acceptance by Owner shall not, however, alter the Contractor’s responsibility to complete all Work necessary for Original Project Final Completion and Expansion Project Final Completion in
accordance with the Contract Documents, including items discovered by Owner after Original Project Substantial Completion or Expansion Project Substantial Completion. 
  
 12.1.2.7 Owner shall have the final decision as to whether or not Contractor has achieved Original
Project Substantial Completion or Expansion Project Substantial Completion of any portion of the Original Project Work or Expansion Project Work, respectively. When Owner determines that Original Project Substantial Completion has been achieved and
a TCO has been obtained therefor, Owner shall prepare and issue an 

  

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“Original Project Certificate of Substantial Completion,” which shall certify the date of the Original Project Substantial Completion. When
Owner determines that Expansion Project Substantial Completion has been achieved and a TCO has been obtained therefor, Owner shall prepare and issue a “Expansion Project Certificate of Substantial Completion,” which shall certify
the date of the Expansion Project Substantial Completion. Upon the issuance of such Original Project Certificate of Substantial Completion or Expansion Project Certificate of Substantial Completion (as applicable) or the opening to the
general public of any portion of the Project, the care of and the risk of loss with respect to the portion of the Work for which Original Project Substantial Completion or Expansion Project Substantial Completion has been certified or which has been
opened to the general public shall pass to Owner. 
  
 12.1.3 Limitations. Notwithstanding any provisions in the Contract Documents which may indicate otherwise, Owner’s acceptance of partial Original Project Substantial Completion or partial Expansion Project Substantial
Completion and the possession, use and occupancy of any portion of the Project prior to Original Project Substantial Completion or Expansion Project Substantial Completion of the Original Project Work or Expansion Project Work in their respective
entirety, shall not in any manner constitute a waiver by Owner of any of the provisions or requirements of the Contract Documents, including, but not limited to, Contractor’s warranty obligations set forth in Article 10 of this Agreement
and Contractor’s obligations to achieve the Contract Time set forth in Article 4 of this Agreement; provided, however, that Original Project Substantial Completion or Expansion Project Substantial Completion shall be deemed to have
occurred with respect to the portion of the Work that is the subject of an Original Project Certificate of Substantial Completion or Expansion Project Certificate of Substantial Completion issued by Owner. 
  
 12.2 Final Completion Procedures and Requirements 
  
 12.2.1 Contractor’s Notice of Final Completion.
“Original Project Final Completion” means that stage in the progress of the Original Project Work when Owner and Owner’s Lenders determine that the Original Project Work has been properly completed and equipped by Contractor in
accordance with the Contract Documents, including (a) completion of all Original Project Punch List Items), (b) the submittal to Owner of all documentation as described in the Contract Documents, (c) completion in compliance with all
applicable Laws, and (d) all obligations of Contractor under the Contract Documents (except for those obligations which are intended to be satisfied after Original Project Final Completion) are fully satisfied, and the Original Project Work is
otherwise satisfactory to Owner and Owner’s Lenders. “Expansion Project Final Completion” means that stage in the progress of the Expansion Project Work when Owner and Owner’s Lenders determine that the
Expansion Project Work has been properly completed and equipped by Contractor in accordance with the Contract Documents, including (a) completion of all Expansion Project Punch List Items), (b) the submittal to Owner of all
documentation as described in the Contract Documents, (c) completion in compliance with all applicable Laws, and (d) all obligations of Contractor under the Contract Documents (except for those obligations which 

  

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are intended to be satisfied after Expansion Project Final Completion) are fully satisfied, and the Expansion Project Work is otherwise
satisfactory to Owner and Owner’s Lenders. When Contractor considers that the Original Project Work or Expansion Project Work is finally complete, Contractor shall so notify Owner in writing requesting an Original Project Certificate of Final
Completion or Expansion Project Certificate of Final Completion, respectively. Such notice shall be accompanied by, and it shall be a condition to Original Project Final Completion or Expansion Project Certificate of Final Completion (as applicable)
that Contractor deliver to Owner, the following: 
  
 12.2.1.1 All final occupancy certificates obtained from any government or statutory authority and all other required approvals and acceptances as necessary or required for the full use and occupancy of all aspects of the Original
Project or Expansion Project (as applicable) and not previously provided to Owner (except for gaming and other business licenses required for the operation of the business to be conducted in the Project, which remain the sole responsibility of
Owner); 
  
 12.2.1.2 All written
guarantees and warranties under the Contract for Contractor and Subcontractors and Vendors, all required operation and maintenance manuals for major equipment required under the Contract all in form and substance satisfactory to Owner; and
assignment documentation assigning to Owner in form and substance satisfactory to Owner any remaining warranties and guarantees pertaining to the Original Project Work or Expansion Project Work and not previously provided and assigned to Owner, and
Contractor agrees to assist Owner in the prosecution and enforcement of all such assigned warranties and guarantees as provided in Article 10. 
  
 12.2.1.3 A certificate that Contractor shall maintain insurance in the amounts and for the time periods required by this Agreement
and a certificate of the insurer evidencing that insurance required by the Contract Documents to remain in force after Original Project Final Payment or Expansion Project Final Payment (as applicable) is currently in effect and will not be cancelled
or allowed to expire until at least 60 days’ prior written notice has been given to Owner. 
  
 12.2.1.4 All operating, maintenance, servicing and cleaning manuals and instructions, spare parts, maintenance stocks and spare
materials provided by Subcontractors and Vendors required by the Contract Documents for beneficial use of the Original Project Work or Expansion Project Work (as applicable) for its intended purpose, and if requested by Owner adequate verbal
instructions in the operation of mechanical, electrical, plumbing and other systems. 
  
 12.2.1.5 A complete and accurate set of as-built Drawings pursuant to Section 7.14 of this Agreement, which clearly
delineate any changes made to the latest approved Drawings and Specifications. 
  

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 12.2.1.6 Such documents and other items so that Owner will receive and Owner does
receive a release and complete refund without deduction or offset of any security, bonds and/or cash amounts provided by or on behalf of Owner and held by or for the benefit of any administrative or governmental agency in connection with the
construction of the Original Project or Expansion Project (as applicable). 
  
 12.2.1.7 An updated survey of the Site showing the Work “as built.” 
  
 12.2.1.8 Master, submaster and special keys with keying schedule. 
  
 12.2.2 Owner’s Inspection For Final Completion. Upon receipt of Contractor’s request for an
Original Project Certificate of Final Completion or Expansion Project Certificate of Final Completion (as applicable) and all submittals that comply with Section 12.2.1 above, Owner shall promptly make appropriate evaluations and
inspections as follows: 
  
 12.2.2.1 If
Owner considers that the Original Project Work or Expansion Project Work (as applicable) is fully completed in accordance with the Contract Documents, Owner shall promptly so advise Contractor. 
  
 12.2.2.2 In the event that Owner or Owner’s
Lenders does not agree that Original Project Final Completion or Expansion Project Final Completion (as applicable) has been achieved, Owner shall promptly so advise the Contractor in writing of the remaining items to be completed for purposes of
Original Project Final Completion or Expansion Project Final Completion (as applicable). 
  
 12.2.2.3 After Contractor satisfies all remaining items necessary for Original Project Final Completion or Expansion Project Final
Completion (as applicable), Contractor may submit a further written notice to Owner stating that the Original Project Work or Expansion Project Work (as applicable) is ready for re-inspection. All re-inspections to determine if the Original Project
Work or Expansion Project Work (as applicable) is acceptable for purposes of Original Project Final Completion or Expansion Project Final Completion (as applicable) shall be jointly made by Owner and Contractor. 
  
 12.2.2.4 Owner shall have the final decision as to
whether or not Contractor has achieved Original Project Final Completion or Expansion Project Final Completion (as applicable) of the Original Project Work or Expansion Project Work, respectively. When Owner agrees that the Original Project Work or
Expansion Project Work (as applicable) is finally complete, which agreement Owner agrees not to unreasonably withhold or delay, Owner shall prepare and issue (i) in the case of the Original Project, an “Original Project Certificate of
Final Completion,” which shall set forth the date of Original Project Final Completion or (ii) in the case of the Expansion Project, an “Expansion Project Certificate of Final Completion,” which shall set forth the
date of Expansion Project Final Completion. 
  

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 ARTICLE XIII. 
 CONCEALED CONDITIONS AND UNCOVERING OF WORK 
  
 13.1 Concealed Conditions 
  
 13.1.1 Owner represents that it has no actual knowledge of any concealed conditions at, upon or within the Site which are of an unusual nature, differ materially from those ordinarily encountered and generally
recognized as inherent in the Work, and which would cause a material delay in the critical path portion of the Work 
  
 13.1.2 Contractor acknowledges and agrees that it shall not be entitled to an increase in the Original Project Guaranteed Maximum
Price or Expansion Project Guaranteed Maximum Price (as applicable) or extension of the Contract Time due to any concealed conditions at, upon or within the Site regardless of their origin, cause or nature, including whether or not such conditions
are identified in the Contract Documents or could not have been discovered by Contractor prior to the Effective Date through the exercise of due diligence. 
  
 13.1.3 Owner agrees that the limitation set forth in Section 13.1.2 shall apply only to
concealed conditions at, upon or within the Site. If, in the course of executing any portion of the Work required pursuant to this Agreement to be performed immediately adjacent to the Site, Contractor encounters any concealed condition in the
ground immediately adjacent to the Site which is not identified in the Contract Documents or could not have been discovered by Contractor prior to the Effective Date through the exercise of due diligence, then such concealed condition shall be
eligible for consideration as a Change for purposes of Article 18, and Contractor shall be entitled to submit a Change Proposal to Owner in connection therewith. 
  
 13.2 Covering of Work 
  
 13.2.1 Contractor shall enable Owner to inspect all portions of the Work before they are covered. 
  
 13.2.2 If a portion of the Work is covered without
providing Owner with adequate advance notice, or contrary to the request or direction of Owner or the provisions of the Contract Documents, Contractor shall, if required in writing by Owner, uncover the Work for observation. Such Work shall be
replaced at Contractor’s expense without change in the Contract Time. 
  
 13.2.3 If a portion of the Work has been properly covered in accordance with the Contract Documents and after sufficient advance notice to Owner, Owner may subsequently request to see such Work and it shall be
uncovered by Contractor. If such Work is in accordance with the Contract Documents, the Original Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) shall be increased by appropriate Construction Change Directive
for the costs of uncovering and replacement. If 

  

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such Work is not in accordance with the Contract Documents, Contractor shall be responsible therefor and shall not be entitled to an increase in the Original
Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable). 
  
 ARTICLE XIV. 
 INDEMNIFICATION 
  
 14.1 Indemnity. To the fullest extent permitted by law, Contractor hereby indemnifies and agrees to protect, defend,
and hold each of Owner; Wynn Resorts (Macau), Ltd.; Wynn Resorts (Macau) Holdings, Ltd.; Wynn Resorts International, Ltd.; Wynn Group Asia, Inc.; Wynn Resorts, Limited; Wong Chi Seng; S.H.W. & Co.; SKKG Limited; L’ARC de Triomphe
Limited; Classic Wave Limited; Kwan Yan Chi; Li Tai Foon; Kwan Yan Ming; Wynn Design and Development LLC; Owner’s Lenders; and the respective subsidiaries, affiliates, parent companies and the respective members, officers, directors, managers,
employees, agents, shareholders, successors and assigns, heirs, administrators, and personal representatives of each of the foregoing (collectively, “Owner Indemnitees”) harmless from and against any and all claims, liabilities,
obligations, losses, suits, actions, legal proceedings, damages, costs, expenses, awards, or judgments, including, without limitation, reasonable attorneys’ fees and costs (whether or not suit is filed) (collectively
“Actions”), any Owner Indemnitees(s) may suffer or incur or be threatened with and whether based upon statutory, contractual, tort or other theory, that: (i) are imposed by Law; or (ii) arise by reason of or relating
directly or indirectly to (a) the death of or bodily injury to any person or persons, including, without limitation, employees of Contractor, (b) injury to property (including loss of use and the Work itself and including all costs for
repair or replacement of work, materials, supplies or equipment (whether on or off Site or in transit), including whether lost, stolen, damaged or destroyed), equipment or material, including, without limitation, any of the same resulting or arising
out of the performance of the Work performed by Contractor or any Subcontractor or Vendor, (c) violation of or failure to comply with or abide by any Laws, or variations from the Contract Documents in the actual construction of the Work,
(d) any infringement of the rights of any third party, including, without limitation, copyright and patent rights (in connection with which Contractor shall pay all royalties and license fees), (e) any stop notices, mechanic’s liens
or similar claims relating to any labor, services, materials, goods or equipment whether provided by Contractor, Subcontractor or any Vendor and relating to the Work, or (f) any breach or alleged breach of Contractor’s warranties,
representations, obligations, covenants or agreements set forth in the Contract; and (iii) relate to or arise out of or result from, directly or indirectly, (x) the performance of the Work, or (y) from any act or omission of
Contractor, any Subcontractor or Vendor, anyone directly or indirectly employed by any of them, or anyone for whose acts any of them are liable or responsible at law or under the Contract Documents. Contractor shall be obligated to indemnify the
Owner Indemnitees against the Actions as described in the preceding sentence, regardless of whether or not any such Action is caused by an Owner Indemnitees (subject to Section 14.4 below). Owner shall notify Contractor promptly upon
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in this Section 14.1, the liability of Contractor for Recovery Plan liabilities, as provided in Section 4.2, and Liquidated Damages, as
provided in Section 4.4, shall be the Owner’s sole remedy for any delay in the execution of the Work; it being further agreed, however, that other than with respect to Owner’s right to claim damages for any delay in the
execution of the Work, the foregoing statement shall not in any way limit any liability of Contractor pursuant to this Section 14.1 for any other act or omission, or for any other breach or default of Contractor, Subcontractor or any
Vendor under any of the Contract Documents. 
  
 14.2 Defense
Costs. Subject to the limitations set forth in Section 14.3 immediately below, the indemnification provisions of Section 14.1 above, including defense costs, shall include all attorneys’ fees, investigation costs,
expert witnesses, court costs, and other costs and expenses incurred by the Owner Indemnitees to the extent their interests appear. 
  
 14.3 Hazardous Materials. Contractor and its Subcontractors and Vendors shall have no responsibility for the discovery, presence, handling, removal
or disposal of pre-existing hazardous materials discovered on the Site, including asbestos, asbestos products, poly-chlorinated biphenyl (PCB) or other substances classified as hazardous by the Environmental Protection Agency of the U.S. Government
or any other federal, state or local government agency and also Macau laws, except to the extent addressed or covered in the Contract Documents or otherwise made known to or reasonably foreseeable by Contractor. If Contractor discovers the presence
of any hazardous materials at the Site not otherwise called out in the Contract Documents or otherwise made known to or reasonably foreseeable by Contractor, Contractor shall promptly report the presence and precise location of any such materials to
Owner and immediately stop Work in the affected area unless requested otherwise by Owner. 
  
 14.4 Other Limitations. Subject to the provisions of this Section 14.4, the obligations in Section 14.1 above shall apply to and include those Actions arising from the negligent,
tortious, intentional or other acts of any Owner Indemnitees, and such indemnification obligations are primary to any insurance in the names of the Owner Indemnitees. In the event of contributory negligence or tortious or intentional act of any
Owner Indemnitees, the Contractor shall only be liable for payment of such Actions in direct proportion to the indemnifying party’s percentage of fault, if any, as determined by a court of competent jurisdiction, or as may be mutually agreed
upon by Owner and Contractor. The indemnification obligations in this Article 14 shall not be construed to negate, abridge, or reduce other rights or obligations of Contractor or Owner, including, but not limited to, any obligation of
indemnity which would otherwise exist at law or otherwise in favor of an Owner Indemnitees. If any Action occurs or is threatened, the Contractor shall defend the Owner Indemnitees with counsel reasonably acceptable to such Owner Indemnitees, at the
Contractor’s expense, unless an Owner Indemnitees elects to defend itself, in which case the Contractor shall pay for such Owner’ Indemnitees reasonable defense costs, including, but not limited to, all attorneys’ fees, investigation
costs, expert witnesses, court costs, and other costs and expenses incurred by such Owner Indemnitees. Contractor shall not have the right 

  

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to settle any Action without Owner’s prior written consent in each instance. The indemnification obligation of Contractor (or any Subcontractor) under
this Article 14 or otherwise under the Contract Documents, shall not be limited in any way by any limitation on the amount or type of insurance coverages carried whether pursuant to the Contract Documents or otherwise, the amount of insurance
proceeds available or paid (except the Contractor shall be entitled to an offset against its indemnity obligation to the extent of any insurance proceeds actually received by the Owner Indemnitee, without condition or reservation, relating to any
Action for which the Owner Indemnitee seeks to be indemnified pursuant to an indemnity in this Agreement), or any limitation on the amount or type of damages, compensation or benefits payable by or for Contractor or any Subcontractor or Owner or
other person or entity under workmen’s compensation acts, disability benefit acts or other employee benefit acts. Provided, however, any other limitations on the liability of Contractor specifically set forth in this Agreement shall apply to
and limit Contractor’s indemnity obligations in this Article 14 as and to the extent provided therein. 
  
 14.5 Survival of Indemnification Provisions. The Contractor’s indemnity obligations set forth in this Article 14 shall apply
irrespective of whether or not any Subcontractors or Vendors obtain or fail to obtain insurance coverages as required herein, shall apply during the performance of any Work, and shall survive any termination of this Contract or the Original Project
Final Completion or Expansion Project Final Completion of the Original Project Work or Expansion Project Work, respectively. 
  
 14.6 Risk. Except to the extent expressly provided for in the Contract Documents, all Work (i) covered by the Contract Documents,
(ii) done at the Site, (iii) in preparing or delivering materials or equipment, or (iv) in providing services for the Project, or any or all of them, shall be at the sole risk of Contractor. 
  
 14.7 Limit on Consequential Damages. Other than
Contractor’s liability for (a) Recovery Plan Liabilities (as provided in Sections 4.2, 11.8 and 11.8.6), and (b) Liquidated Damages (as provided in Section 4.4.1), Contractor shall have no liability to Owner under
this Contract for consequential, indirect or special damages, including, but not limited to, loss of profit, loss of revenues, loss of any contract or loss of use of all or any portion of the Work (collectively, “Consequential
Damages”). For the avoidance of doubt, Owner and Contractor agree that for purposes of the limitation expressed in this Section 14.7, any liabilities of Contractor pursuant to any of its indemnity obligations set forth in Sections
7.2, 7.27.1, 8.2.8, 10.6, 11.11.2, 16.2, 14.1, 24.7, 26.1.2(g) and 27.1.6 are not, and in no event shall be deemed to be, Consequential Damages. Nothing in this Section 14.7
shall limit the types or amounts of any damages other than Consequential Damages that may be available to Owner under this Agreement or at law or in equity. 
  

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 ARTICLE XV. 
 INSURANCE 
  
 15.1 Types
of Insurance. 
  
 15.1.1 Contractor,
at its sole cost and expense, shall maintain at all times during the term of this Agreement, Employees Compensation, Constructional Plant and Equipment Insurance for Contractor owned items, Motor Vehicle Liability Insurance, Marine Cargo Insurance
and any other insurances as required by applicable Laws. 
  
 15.1.2 Contractor, at its sole cost and expense, shall maintain at all times during the term of this Agreement and for a minimum of six (6) years following the later of Original Project Final Completion of
the entire Original Project Work or Expansion Project Final Completion of the entire Expansion Project Work, a Professional Indemnity Insurance policy with a limit of indemnity of not less than Twenty Million Unites States Dollars (US$20,000,000)
per occurrence and in the aggregate. The limit of indemnity shall be dedicated to liabilities arising from the Contract alone and shall not be available for claims arising from work undertaken by Contractor other than pursuant to the Contract.

  
 15.1.3 All policies maintained by
Contractor pursuant to this Article 15 shall name Owner and the Owner Indemnitees as joint insureds. 
  
 15.1.4 The Contractor shall ensure that the Subcontractors on the Project who are employed by the Contractor (or by any of the
parties constituting the Contractor hereunder) also shall carry the insurance specified in Section 15.1.1 above. Such policies shall contain a waiver of recourse against the Owner Indemnitees. 
  
 15.1.5 Owner shall maintain a Builder’s Risk
Insurance policy until the later of Original Project Substantial Completion of the Original Project or Expansion Project Substantial Completion of the Expansion Project, followed by 12 months’ Original Project Defects Liability Period or
Expansion Project Defects Liability Period (as applicable) coverage. Any uninsured losses shall be paid for by the responsible Contractor or Subcontractor. The Builder’s Risk Insurance provided by Owner shall not cover loss of, or damage
to, any tools, implements, equipment, formwork, machinery, cranes, consumables, office trailers, tool sheds, temporary structures other than temporary works or anything else which is not intended to become a permanent part of the finished Project.
In the event of delays by the Contractor or its Subcontractors and Vendors causing delays to the Original Project Substantial Completion of the Original Project or the Expansion Project Substantial Completion of the Expansion Project, any additional
premium incurred by the Owner for extending the Builder’s Risks policy shall be recoverable from the Contractor. 
  
 15.1.6 Owner, at its cost and expense, shall maintain until the later of the termination of the Original Project Defects Liability
Period or the Expansion Project Defects Liability Period, Third Party Liability (“TPL”) Insurance. TPL coverage shall include, but not be limited to, personal injury, broad form property damage, and explosion, collapse and
underground coverage. Coverage under the TPL insurance policy described in this Section 15.1.6 shall be provided with a combined single limit of not less than US$10,000,000 for bodily injury or death to any number of persons and property
damage, in any one occurrence. The TPL insurance policy shall name the Owner Indemnitees, Contractor and 

  

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all Subcontractors and Vendors as joint insureds. Such insurance shall be primary to any other insurance available to the joint insureds and it shall apply
separately to each insured against whom a claim is made or a suit is brought subject to the single limit. In the event of delays by the Contractor or its Subcontractors and Vendors causing delays to the Original Project Final Completion of the
Original Project or the Expansion Project Final Completion of the Expansion Project, any additional premium incurred by the Owner for extending the TPL policy shall be recoverable from the Contractor. 
  
 15.1.7 The Builder’s Risk and TPL Insurance
shall be on terms to be approved solely by Owner. Owner shall provide to Contractor a certificate of insurance reflecting such coverage, and Contractor shall be deemed to have satisfied itself and shall cause the Subcontractors to satisfy themselves
with regard to the extent of coverage provided. 
  
 15.1.8 The Contractor and/or Subcontractor shall promptly furnish to Owner and Owner’s Lenders (and in any case prior to the Original Project Date of Commencement) policies of insurance (and any updates or amendments, as
applicable, to such policies) described in this Article 15, issued by the carriers, which shall provide that such policies may not be cancelled except for non-payment of premiums in which event the issuing company shall give at least thirty
(30) days prior written notice or intent of cancellation. In respect of renewal insurance policies, the Contractor and/or Subcontractor shall deliver to the Owner and the Owner’s Lenders, certificates of insurance (or duplicate originals
of the policies) as evidence of the renewal of such insurances at least thirty (30) days before the expiration of any such policy. If certificates of insurance are provided the Contractor will ensure that policies of insurance are provided to
Owner and Owner’s Lenders within 30 days of inception of the insurance. 
  
 15.1.9 In the event of any failure of the Contractor or a Subcontractor to comply with any of the insurance requirements set forth in this Section 15.1, or in the event of any failure by Owner to
comply with any of the insurance requirements set forth in this Section 15.1 relating to TPL or Builder’s Risk insurance, the other party shall have the right to immediately purchase and maintain the required insurance at the
non-complying party’s expense (and in the case of any insurance that was required to have been procured and paid for by Owner, the Original Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price, as designated by Owner shall be
increased accordingly) for and in the name of such non-complying party, and the non-complying party furnish all necessary information to the other party to enable the other party to purchase and maintain such insurance. Compliance by the Contractor
or by the Owner on behalf of the Contractor with the insurance requirements of this Agreement shall not relieve the Contractor from any liability under any provision of this Agreement, including, but not limited to, under the indemnification
contained in Article 14. Said rights shall be cumulative and shall be in addition to any and all other rights and remedies herein or otherwise provided to the Owner by applicable Laws. 
  

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 15.1.10 Set forth on Exhibit O attached hereto is a summary of the
insurance policies to be obtained by the Owner pursuant to this Section 15.1, the minimum coverages and maximum deductibles required with respect thereto. 
  
 15.2 Evidence of Coverage 
  

15.2.1 Carriers Acceptable To Owner. All policies required of Contractor and Subcontractors pursuant to this Contract
shall be maintained with insurance carriers that are acceptable to Owner and licensed to do business in Macau and rated A- or above by Standard and Poor’s Corporation or rated A or above by AM Best; provided, however, that notwithstanding the
foregoing (i) the Professional Indemnity Insurance policy shall be maintained with an insurance carrier rated BBB+ or above by Standard and Poor’s Corporation or rated B or above by AM Best and (ii) the Employees Compensation
insurance policy shall be maintained with an insurance carrier rated BBB or above by Standard and Poor’s Corporation or rated B- or above by AM Best. 
  
 15.2.2 Failure to Comply. Neither the Contractor nor any of its Subcontractors shall be entitled to receive payment for any
Work performed, or to commence operations or Work on the Site or elsewhere until such time as they provide acceptable evidence of compliance with the requirements of this Article 15. Any additional costs or delays caused by or arising out of
any failures to comply with this Article 15, including the failure to furnish acceptable policies of insurance (and any updates or amendments, as applicable, to such policies) prior to date of the Original Project Date of Commencement, shall
be solely the responsibility of Contractor and its Subcontractors. 
  
 15.3 Deductibles. The payment of all deductibles, self-insured retention or similar self-insurance mechanisms as set forth on Exhibit O attached hereto shall be the responsibility of the party responsible for the occurrence of
the loss or damage. If such party is Contractor, the payment of such amount by Contractor shall be considered a Cost of the Work except to the extent that payment in a given instance would be considered a Non-Allowable Cost of the Work under
any of the provisions of Section 3.3; and if such party is a Subcontractor or Vendor, such Subcontractor or Vendor shall bear such cost and the same shall not be a Cost of the Work. 
  
 15.4 Cooperation by the Parties. Owner and Contractor shall fully
cooperate with each other in connection with the collection of any insurance monies that are due in the event of a loss. Owner and Contractor shall promptly execute and deliver such proofs of loss and other instruments which may be required for the
purpose of obtaining recovery of any such insurance monies. 
  
 15.5 Duration. All Employees Compensation, Employer’s Liability, Construction Plant and Equipment, Professional Indemnity and Motor Vehicle Liability insurances required by this Contract shall be kept in force without
interruption until the later of the Original Project Final Completion of the Original Project Work or the Expansion Project Final Completion of the Expansion Project Work in accordance with Section 12.2 above. 
  

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 ARTICLE XVI. 
 SAFETY AND COMPLIANCE 
  
 16.1 Contractor’s Site Safety Responsibilities. Contractor shall be responsible for initiating, maintaining and supervising all safety precautions and programs in connection with the Work, and without limiting the foregoing,
shall take all reasonable precautions for the safety of, and shall provide for all reasonable protections against loss of production time and prevent injury to, any of its employees, Subcontractors, Vendors, or their respective employees or any
other persons who may be affected thereby, and all other persons at the Site or adjacent or nearby to the Site. Contractor shall prepare a site safety plan and submit such plan to Owner for review and comment prior to the commencement of Work. Such
plan shall identify the location of the fire safety system, alarm system, fire-fighting apparatus and exit routes. Safety gear shall be provided for representatives of Owner, Owner’s Lenders and Owner’s Consultants and all others while on
Site. Contractor shall designate a person responsible for job safety. This person shall possess a “CITA green card” or the equivalent, shall be thoroughly familiar with Contractor’s safety manual and shall require compliance of all
applicable provisions of such manual. Contractor shall keep a copy of such manual on the Site. Contractor shall familiarize all Subcontractors and Vendors on safety measures. 
  
 16.1.1 Contractor shall, and shall require Subcontractors and Vendors to, take all precautionary
measures as required by applicable Laws to prevent and correct fire causing conditions, and shall conduct all operations with due regard for the avoidance of fire hazards. Contractor shall exercise the greatest care to prevent fires. The following
minimum precautions shall be taken by Contractor and Contractor shall require each Subcontractor and Vendor to take the following actions with regard to the Work: 
  
 16.1.1.1 Flammable liquids shall be stored in closed, approved, covered metal containers, and as
approved by the fire wardens. All paint and oily rags shall be stored in approved containers and removed daily. 
  
 16.1.1.2 Each gasoline or diesel powered vehicle shall carry a fire extinguisher of adequate size and type to extinguish a fire
emanating from either the vehicle or its load. 
  
 16.1.1.3 Contractor shall maintain a system of prompt detection and correction of unsafe practices and conditions, and shall furnish and maintain all necessary first aid equipment in a special location on the Site. Contractor shall
investigate all accidents promptly to determine cause and to take necessary corrective action, and shall file required reports. 
  

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 16.1.1.4 No exit, corridor, or stairwell shall be used for storage of materials of
any type. 
  
 16.1.1.5 All exits,
corridors and stairwells must be accessible and free of materials of any type except as necessary for the Work. Minimum exit widths as required by Laws shall be maintained at all times. 
  
 16.1.1.6 Hard hat and construction areas shall be identified and posted. All workmen and personnel in
these areas shall wear a hard hat. 
  
 16.1.1.7 All electrical equipment and tools shall be of an adequate size to accomplish the task at hand and shall be properly grounded. 
  
 16.1.1.8 Face, eye and respiratory protection shall be available and used when the situation requires. 
  
 16.1.1.9 The Contractor shall provide and maintain
suitable protections and enclosures around shafts, stairs and other openings in floors. 
  
 The foregoing requirements are not intended to be exclusive or exhaustive, and Owner shall not have any liability in any way relating to any of the foregoing or the absence of other requirements from the foregoing.
Contractor shall be solely responsible to Owner for providing the Site a safe place to work for all persons. Contractor shall allow Site access and provide all reasonably requested assistance to any loss control or risk engineering surveyor engaged
by Owner or Owner’s insurers. Contractor shall also put into effect all reasonable survey recommendations made for the prevention of loss, damage or personal injury. 
  
 16.2 Compliance. In addition to the requirements of Section 16.1 above, Contractor shall give all
notices, file all reports and obtain all permits which are applicable to the Contractor’s operations or performance of the Work. Upon request, Contractor shall furnish Owner and Owner’s Lenders with copies of all such notices, statements,
reports, certificates or permits evidencing compliance. Contractor shall also keep Owner informed of any changes in Laws which may affect Contractor’s performance of the Work or Owner’s use thereof. Contractor shall indemnify, defend and
save harmless Owner and the other Owner Indemnitees from and against any and all claims, losses, liabilities, fines or penalties in any manner arising out of Contractor’s failure to comply with this Article 16. 
  
 ARTICLE XVII. 
 TERMINATION OR SUSPENSION OF THE CONTRACT 
  
 17.1 Material Default By Contractor. Owner may, provided such default is not corrected within the applicable period described in
Section 17.1.1 below, and without prejudice to any other rights or remedies of Owner, terminate this Contract in its entirety, or may elect to terminate any portion of the Contractor’s Work (including either the Original 

  

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Project Work or Expansion Project Work or any portions thereof), for default if the Contractor fails to perform or breaches any of its material obligations
under the Contract Documents, including, but not limited to, a failure to perform the Work in a diligent, expeditious, workmanlike and careful manner strictly in accordance with the Contract. Upon any such termination, Owner may take possession of
the applicable portion of the Site and of all materials, tools, equipment and machinery of Contractor thereon that Owner has paid or will pay for, and may finish the applicable portion of the Work terminated by whatever method Owner may in good
faith deem desirable and/or expedient, including, but not limited to, by retaining one or more other contractors to complete the Work (or Owner may elect not to finish the applicable portion of the Work). 
  
 17.1.1 Notice Of Default. The Contractor shall
promptly correct any default to Owner’s satisfaction within seven (7) calendar days following receipt of written notice of default from Owner. If correction within said seven (7) days is not possible, Contractor shall commence and
diligently continue effective action to correct such default to Owner’s satisfaction, but not later than thirty (30) days following receipt of Owner’s notice (except for such longer period as may otherwise be reasonably approved in
writing by Owner and Owner’s Lenders). In the event that the Contractor fails to take and diligently pursue effective corrective actions, Owner may hold in abeyance further payments to Contractor to the extent provided in this Agreement and/or
terminate the Contract by written notice specifying the date of termination and without prejudice to any other remedy Owner may have. 
  
 17.1.2 Non-Curable Defaults. Notwithstanding the other provisions of Section 17.1, Owner may also elect to declare
Contractor in material default and may terminate Contractor immediately upon written notice (unless a longer period is otherwise expressly provided in this Agreement with regard to the matters in Sections 17.1.2.1 through 17.1.2.4
below, it being agreed that the cure periods in Section 17.1.1 above do not apply to Sections 17.1.2.1 through 17.1.2.4) and/or take such other action as Owner may be allowed, in the event of any of the following:

  
 17.1.2.1 The commencement of an action
or petition by or against Leighton, China/Macau, China/HK or any Guarantor under applicable bankruptcy laws; or any general assignment by Leighton, China/Macau, China/HK or any Guarantor for the benefit of its creditors; or the appointment of a
receiver, trustee or manager to take charge of the assets of Leighton, China/Macau, China/HK or any Guarantor; or any of Leighton, China/Macau, China/HK or any Guarantor becomes insolvent, goes into liquidation, has a receiving or administrative
order made against it or compounds with its creditors; or if any act is done or event occurs which (under any applicable Law) has a similar effect to any of the acts or events outlined herein; 
  
 17.1.2.2 The exercising of any mechanics’ or
materialmens’ lien rights on Owner’s property, the Site, the Project and/or the Work by a Subcontractor, Vendor, laborer, materialman, or supplier or any other party providing services or material 

  

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engaged by, on behalf of, or acting under the direction of Contractor or any Subcontractor or Vendor in connection with the Work, unless that Owner’s
property, the Site, the Project and/or the Work, as applicable, is released from such lien(s) or, at Owner’s option, satisfied by bond or other security, in an amount and with a bonding company reasonably satisfactory to Owner and Owner’s
Lenders within the time periods set forth in and pursuant to Section 7.19.2 hereof; 
  
 17.1.2.3 Failure of Contractor for five successive days or an aggregate of seven days in any thirty (30) day period (other
than Sundays or national holidays), to have an adequate number of laborers or Subcontractors at the Site who are actively and productively working on the Project, unless a Permissible Delay exists for such absence, unless within five (5) days
after written notice from Owner Contractor has and thereafter maintains an adequate number of laborers and Subcontractors on Site actively and productively working on the Project; or 
  
 17.1.2.4 Failure of Contractor after five (5) days following request from Owner’s Lenders
to provide Owner and Owner’s Lenders with the evidence required under Section 3.1.5 of this Agreement. 
  
 17.1.3 Stop Work Orders. In the event of any material breach or default of this Contract by Contractor, and in lieu of declaring
termination for default, Owner may elect to stop, delay, reduce or interrupt any operations of Contractor or any affected Subcontractors or Vendors until such default or failure is remedied to Owner’s satisfaction. No part of the time lost due
to stop work orders or delay, reduction or interruption by Owner arising out of such material breaches shall be made the subject of a claim for extension of time or for increased costs or damages by Contractor. No increase or upward adjustment shall
be made in either the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price, or the Original Project Contractor’s Fee or Expansion Project Contractor’s Fee for, and in no event shall Owner be liable for,
or Contractor or any Subcontractor or any other party performing any Work on the Site be entitled to, any lost opportunity, lost profit or consequential damages claimed or alleged by Contractor, any Subcontractor or any other party performing any
Work on the Site and relating to any such stoppage, reduction, suspension, delay or interruption. The issuance of a stop work order or delay, reduction or interruption by Owner shall not prejudice Owner’s right to subsequently terminate for
default. 
  
 17.1.4 Owner’s Rights Upon
Termination For Default. If all or a portion of the Contractor’s Work is terminated pursuant to this Section 17.1, Contractor shall not be entitled to receive any payment until after the later of the Original Project Final
Completion or Expansion Project Final Completion by others (except for that portion of the Work not terminated in the case of termination of only a portion of Contractor’s Work) and after Owner has assessed its additional costs and damages
arising out of such termination, including, but not limited to, Owner’s additional costs for completing all or the relevant 

  

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portion of the Work. Upon such termination, Contractor shall immediately undertake all necessary steps to mitigate against Owner’s damages, and shall:

  
 17.1.4.1 Cease operations and vacate
the Site to the extent specified in the notice of default; 
  
 17.1.4.2 Place no further orders and enter into no further subcontracts or purchase orders for materials, labor, services or facilities that relate to the terminated Work; 
  
 17.1.4.3 Upon Owner’s request, terminate all
subcontracts and purchase orders which relate to the terminated Work; 
  
 17.1.4.4 Upon request and as directed by Owner, assign (and/or Owner may accept the assignments made in this Agreement, as the case may be) all of Contractor’s right, title and interest to all
subcontracts, purchase orders, rental agreements, materials, supplies and equipment relating to the portion of the Work terminated using forms satisfactory to Owner, and otherwise assist Owner in the orderly and expeditious transfer of such rights;

  
 17.1.4.5 Turn over to Owner the
originals of the Original Project Schedule and Expansion Project Schedule and all Schedule Updates including all computer data bases in electronic format; all Drawings, Specifications and other construction documents; all as-built drawings,
calculations and such other Work-related documents relating to the portion of the Work terminated (provided that Contractor may retain copies of the foregoing as necessary to permit Contractor to complete any portion of the Work not terminated) and
all items and things for whose cost Contractor requests or has requested reimbursement or payment; 
  
 17.1.4.6 Proceed to complete the performance of all Work not terminated; 
  
 17.1.4.7 Take such actions that may be necessary, or
that Owner may direct, for the protection and preservation of the terminated Work; 
  
 17.1.4.8 Advise Owner of all outstanding subcontracts, rental agreements and purchase orders which Contractor has with others
pertaining to the terminated Work and furnish Owner copies thereof; 
  
 17.1.4.9 Remove all of its property from the portion of the Site and Owner’s premises relating to the terminated Work. Any property not so removed may be removed by Owner at Contractor’s expense; and

  
 17.1.4.10 Allow Owner (a) to take
possession of all materials of any kind that have been or will be paid for, that are to be incorporated into the portion of the 

  

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Work terminated, or to which Owner has any ownership rights or interest, and (b) to finish the portion of the Work terminated and provide the materials
therefor or contract with others to do so by whatever method Owner deems expedient, and execute and do all such assurances, acts and things as Owner may consider expedient to facilitate Owner’s taking of possession of the Site relating to the
portion of the Work terminated and materials, equipment, machinery and tools thereon, and give all notices, orders and directions which Owner may think expedient for the purposes hereof. 
  
 17.1.5 Payment to Contractor 
  
 17.1.5.1 If Owner terminates the Contract for Contractor’s breach or default, Contractor shall
thereafter only be entitled to reimbursement (subject to Section 17.1.5.3 hereof) only of such amount (if any), by which: 
  
 (a) the (i) Cost of the Work actually and properly completed by Contractor in accordance with the Contract Documents up to the date
of such termination (and not cancelable or refundable), plus (ii) the pro rata portion of the Original Project Contractor’s Fee or Expansion Project Contractor’s Fee thereon (subject to satisfaction of the conditions applicable to
progress and the Original Project Final Payment or Expansion Project Final Payment contained in the Contract Documents as the case may be), but the foregoing amounts shall not exceed the portion of the Original Project Guaranteed Maximum Price or
Expansion Project Guaranteed Maximum Price (including the Original Project Contractor’s Fee or Expansion Project Contractor’s Fee , respectively) fairly allocable to the Work so completed, exceeds 
  
 (b) the total of (i) all payments theretofore made to
Contractor under the Contract Documents, and (ii) all damages and other costs and expenses incurred by Owner directly or indirectly, arising out of or as a result of, Contractor’s breach or default, including, but not limited to, the cost
of any additional consultants’ services, or managerial and administrative services required thereby, any additional costs incurred in retaining another contractor or other subcontractors, any additional financing, interest or fees and other
costs that Owner must pay by reason of a delay in completion of the Work, Owner’s termination of Contractor and the finishing of the Work by another method after such termination, attorneys’ fees and expenses, and any other damages, costs,
and expenses Owner may incur in completing the Work as a result of Contractor’s breach or default including if Owner elects to complete the Project after such termination, the amount by which the actual cost of completing the Project (including
components of the Project that are not part of the Work) is greater than what such actual cost (including the actual cost of components of the Project that are not part of the Work) would have been if Contractor had fulfilled its obligations under
the Contract Documents, and if Owner elects to not complete the Project after such termination (Contractor 

  

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hereby acknowledging that Owner has the right to so elect without Owner waiving Contractor’s liability for damages arising out of the breach by
Contractor that led to its termination), all damages suffered by Owner arising out of Contractor’s breach of this Agreement; provided that the amount specified in this clause (b) shall be reduced by any amounts received by Owner under the
On-Demand Bond referred to in Section 7.18. 
  
 17.1.5.2 If the amount referred to in Section 17.1.5.1.(b) hereinabove exceeds the amount referred to in Section 17.1.5.1.(a) hereinabove, Contractor shall pay the difference to Owner
immediately upon Owner’s request, subject to the provisions of Section 14.7. 
  
 17.1.5.3 Any reimbursements or payments made to Contractor under this Section 17.1.5 are conditioned on
(a) Contractor previously having delivered to Owner possession and unfettered access to the Work and Site and all materials, equipment, tools and the like (undamaged and in good condition) which Owner has paid or will pay for, (b) all the
applicable items listed in, and performance of all the applicable obligations described in Section 12.2.1 of this Agreement have been satisfied, and (c) Contractor complies with such other obligations under the Contract Documents
accruing prior to termination or that by their nature survive the termination of this Agreement as Owner or Owner’s Lenders reasonably requires. 
  
 17.2 Termination For Convenience. The parties’ rights and remedies in the event of termination of the Contract by Owner for convenience shall
be as follows: 
  
 17.2.1 Notice of
Termination For Convenience. Owner may cancel this Contract in its entirety (and not in part) and take possession of the Site and all materials, tools, equipment and machinery thereon in which Owner has an ownership interest or other vested
interest, and finish or not finish the Work by whatever method Owner may desire, at any time upon written notice to Contractor solely for Owner’s convenience and without regard to any fault or failure to perform by Contractor or any other
party. Upon receipt of such notice of termination, Contractor shall immediately and in accordance with instructions from Owner proceed as follows: 
  
 17.2.1.1 Cease operations and vacate the Site; 
  
 17.2.1.2 Advise Owner of all outstanding subcontracts, rental agreements and purchase orders which
Contractor has with others pertaining to the Work and furnish Owner copies thereof; 
  
 17.2.1.3 Place no further orders and enter into no further subcontracts or purchase orders for materials, labor, services or
facilities that relate to the Work; 
  
 17.2.1.4 Upon Owner’s request, terminate all subcontracts and orders that relate to the Work; 
  

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 17.2.1.5 Upon request and as directed by Owner, assign (and/or Owner may accept
the assignments made in this Agreement, as the case may be) all of Contractor’s right, title and interest to all subcontracts, purchase orders, rental agreements, materials, supplies and equipment relating to the Work using forms satisfactory
to Owner, and otherwise assist Owner in the orderly and expeditious transfer of such rights; 
  
 17.2.1.6 Turn over to Owner the originals of the Original Project Schedule and Expansion Project Schedule and all Schedule Updates
including all computer data bases in electronic format; all Drawings, Specifications and other construction documents; all as-built drawings, calculations and such other Work-related documents and all items and things for whose cost Contractor
requests or has requested reimbursement or payment; 
  
 17.2.1.7 Take such actions that may be necessary, or that Owner may reasonably direct, for the protection and preservation of the Work; 
  
 17.2.1.8 Remove all of its property from the Site and Owner’s premises. Any property not so removed may be removed by Owner at
Contractor’s expense; and 
  
 17.2.1.9 Allow Owner (a) to take possession of all materials, equipment, machinery and tools of any kind that have been or will be paid for, that are to be incorporated into the Work, or to which Owner has any ownership rights
or interest, and (b) to finish the Work and provide the materials therefor or contract with others to do so by whatever method Owner deems expedient, and execute and do all such assurances, acts and things as Owner may consider expedient to
facilitate Owner’s taking of possession of the Site and materials, equipment, machinery and tools thereon, and give all notices, orders and directions which Owner may think expedient for the purposes hereof. 
  
 17.2.2 Payment Upon Termination For Convenience. In
the event of termination for convenience, Contractor shall be paid as follows: Owner’s sole obligation and liability to Contractor shall be (i) to reimburse Contractor (and Contractor’s exclusive remedy shall be to receive
reimbursement) for (A) the Cost of the Work properly incurred (and not cancelable or refundable) by Contractor up to the date of termination, including, but not limited to, the cost of tools, equipment, machinery or materials ordered for the
Work which have been delivered to Contractor, or for which Contractor is liable to accept delivery (it being agreed that such tools, equipment, machinery and materials shall become the property and the responsibility of Owner when paid for by
Owner), and Contractor shall place the same at Owner’s disposal, and including further, and (B) Contractor’s reasonable demobilization costs, (ii) to pay to Contractor that pro-rata portion of the Original Project
Contractor’s Fee or Expansion Project Contractor’s Fee applicable to such completed Work (and subject to satisfaction of the conditions applicable to payments to Contractor set forth in the Contract Documents, including for progress
payments, and Original Project Final Payment or Expansion Project Final Payment as applicable), but not in excess of the portion 

  

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of the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price equitably allocable to such Work based on the percentage such
properly performed and completed Work by Contractor bears to the total Original Project Work or Expansion Project Work included within the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price, respectively, less
all payments previously made to Contractor under the Contract and any amounts owed by Contractor to Owner under the Contract. Contractor shall not be entitled to receive payment hereunder for any so-called lost profit or opportunity costs.

  
 17.3 Suspensions By Owner 
  
 17.3.1 Owner’s Right To Suspend For Convenience.
Owner may at any time, with or without cause, suspend, delay, reduce or interrupt performance of all or any portion of the Work for such period or periods as Owner elects by giving Contractor written notice specifying which portion of the Work is to
be suspended and the effective date of such suspension. Such suspension, delay or interruption shall continue until Owner terminates such suspension, delay or interruption by written notice to Contractor; provided that if a suspension, delay or
interruption of the entire Project (or such a substantial portion thereof that the suspension, delay or interruption with respect thereto would have a material adverse effect on the ability of Contractor to meet either the Original Project
Guaranteed Date of Substantial Completion or the Expansion Project Guaranteed Date of Substantial Completion) shall continue for ninety (90) consecutive days or one hundred eighty (180) days in the aggregate, Contractor shall have the
right to terminate this Contract upon giving Owner fourteen (14) business days’ written notice thereof and such termination shall be treated as a termination with cause for purposes of Section 17.6.2. No such suspension, delay,
interruption or reduction by Owner shall constitute a breach or default by Owner under the Contract Documents. Contractor shall continue to diligently perform any remaining Work that is not suspended, delayed, reduced or interrupted and shall take
all actions necessary to maintain and safeguard all materials, equipment, supplies and Work in progress affected by the suspension, delay, reduction or interruption. 
  
 17.3.2 Payment Upon Suspension For Convenience. In the event of suspension, delay, reduction or
interruption for convenience by Owner, Owner shall pay Contractor and the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) shall be increased by such amounts (subject to the payment and related
requirements of the Contract Documents) as follows: 
  
 17.3.2.1 Additional Costs of the Work, if any, which are properly, necessarily and reasonably incurred by Contractor, Subcontractors and Vendors as a direct result of such suspension, delay or interruption, including, but not limited
to, for the purpose of safeguarding all material, equipment, supplies and Contractor’s Work in progress, but the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) shall be increased only if
and to the extent such delay, suspension or interruption exceeds a period of thirty (30) days in the aggregate if the entire Project is 

  

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suspended (or if a substantial portion of the Project is suspended such that it causes a delay in the opening date of the Original Project Casino, Expansion
Project Casino, the Hotel, Theatre and Entry Feature) following commencement of the Work; and 
  
 17.3.2.2 By any increase in Contractor’s Fee determined in accordance with Section 18.5.2. 
  
 17.3.2.3 Provided, however, that no adjustment shall
be made to the extent that performance was otherwise subject to suspension, delay or interruption by another cause for which Contractor is responsible. 
  
 17.4 Limitations. Except to the extent provided in Section 17.2.2 or 17.3.2 hereof, as applicable, in the event of any
termination of the Contract or suspension, delay, reduction or interruption of the Work by Owner pursuant to Section 17.1, 17.2 or 17.3, Owner shall have no liability to Contractor or any Subcontractor or Vendor, and
neither Contractor nor any Subcontractor or Vendor will make and they hereby waive any claim for (a) compensation, expenses, additional fees or anticipated profits for unperformed Work, (b) delays, acceleration or disruption, (c) lost
business or other opportunities, (d) special, indirect or consequential damages or losses or loss of use, (e) impaired bonding capacity, (f) unabsorbed, unrealized or other overheads, or (g) general conditions costs. In no event
shall there be any increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (except as expressly provided in Section 17.3.2 above), or Original Project Contractor’s Fee or Expansion
Project Contractor’s Fee, as a result of any of the foregoing Owner elections under Sections 17.1, 17.2 or 17.3 above or due to any other delays. All amounts payable by Owner shall be subject to Owner’s right of audit
and offset. 
  
 17.5 Other Rights and Remedies. Other
rights and remedies available to Owner in the event of a default or material breach by Contractor which is not timely cured in accordance with Section 17.1.1 hereof, shall include, but not be limited to, the following, and all such
rights and remedies of Owner in this Article 17 shall be non-exclusive, and shall be in addition to all other rights and remedies available to Owner under the Contract, at law or otherwise: 
  
 17.5.1 A waiver by Owner of a default by Contractor
shall not be considered to be a waiver of any subsequent default by Contractor, nor be deemed to amend or modify the terms of this Contract. 
  
 17.5.2 In the event of termination for cause, disputes as to whether a material breach of contract occurred within the provisions
of the Contract Documents shall be subject to resolution pursuant to Article 22 of this Agreement. If Owner terminates this Contract in whole or in part for default and a court of competent jurisdiction later determines that such termination
was improper or wrongful, then that portion of the improper or wrongful termination shall automatically convert into a termination for Owner’s convenience pursuant to Section 17.2 of this Agreement. 
  

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 17.5.3 Owner shall have the right and is authorized to cure such defaults and
offset against and deduct from amounts otherwise payable to Contractor any such costs, damages, reasonable attorneys’ fees and any other expenses suffered by Owner and arising out of such default including any cure or attempted cure by Owner,
and all consultants and professionals additional services. 
  
 17.5.4 Any termination pursuant to this Article 17 shall be without prejudice to any other right or remedy of Owner pursuant to the terms of the Contract Documents or at law or in equity. 
  
 17.6 Contractor’s Remedies 
  
 17.6.1 If payment from Owner for an Application for
Progress Payment (exclusive of amounts properly retained or withheld under the Contract), approved by Owner and Owner’s Lenders in accordance with Sections 5.2 and 5.3 of this Agreement, has not been received by Contractor
within thirty (30) days of the date payment is due pursuant to Section 5.3 of this Agreement, interest shall thereafter commence to accrue (from the original due date of payment pursuant to Section 5.3 hereof) on such
delinquent amounts at then existing prime rate of Bank of China (Hong Kong) plus one percent (1%), until paid, and Contractor may upon written notice to Owner cease Work until such payment has been received, in which case the Original Project
Guaranteed Date of Substantial Completion or Expansion Project Guaranteed Date of Substantial Completion (as applicable) will be extended in accordance with Section 11.6 hereof. If payment of undisputed amounts to which Contractor is
otherwise then entitled pursuant to the terms of this Agreement are not paid by Owner to Contractor within fourteen (14) days after the expiration of the thirty (30) day period hereinabove (or the next draw cycle under Owner’s
financing for the Project) and written notice by Contractor that the same are past due, Contractor may terminate this Agreement upon an additional five (5) business days’ written notice to Owner. 
  
 17.6.2 If Contractor terminates this Agreement
with cause in accordance with this Agreement and such termination is accepted by Owner or challenged by Owner but upheld by an arbitral tribunal, Contractor shall be entitled, as its exclusive remedy (but in addition to Contractor’s rights
under Section 22.3 hereof), to the recovery of (a) the amounts (if any) to which Contractor would have been entitled had Owner, pursuant to Section 17.2 of this Agreement, terminated this Agreement for convenience effective as of the
date this Agreement is so terminated by Contractor. Contractor, notwithstanding any provision of this Agreement or otherwise, shall in no event be entitled to or seek recovery of any other amounts (including, without limitation, consequential
damages, lost profits, overhead, or similar amounts) in the event of any termination, including but not limited to under this Section 17.6. 
  

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 ARTICLE XVIII. 
 CHANGE IN THE WORK 
  
 18.1 Change. A “Change” in the Work means an increase, decrease, variation, modification or change in the scope of Contractor’s Work from that indicated in the Contract Documents, or modification to the Original
Project Schedule or Expansion Project Schedule. Suspension and termination for convenience shall be governed by Article 17 of this Agreement and shall not be considered a Change except to the extent provided therein. A Change can only be
implemented by a Change Order or by Construction Change Directive. Accordingly, no course of conduct or dealings between the parties, nor express or implied acceptance of alterations or additions to the Work, and no claim that Owner has been
unjustly enriched by any alteration or addition to the Work, whether or not there is in fact any such unjust enrichment, shall be the basis for any claim to an increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed
Maximum Price or extension of the Contract Time. Changes in the Work shall be performed under applicable provisions of the Contract Documents, and Contractor shall proceed promptly, unless otherwise provided in the Change Order or Construction
Change Directive. 
  
 18.2 Change Order. A “Change
Order” is a written instrument prepared by Contractor and signed by Owner and Contractor, stating their agreement upon all of the following: 
  
 (a) a Change in the Work including a full description of such Change; 
  
 (b) the amount of the adjustment, if any, in the Original Project Guaranteed Maximum Price or Expansion
Project Guaranteed Maximum Price (as applicable); and/or 
  
 (c) the extent of the adjustment, if any, in the Contract Time. 
  
 Methods used in determining adjustments to the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price, or Original
Project Contractor’s Fee or Expansion Project Contractor’s Fee, may include those listed in Section 18.4.3 hereof. 
  
 18.3 Change Proposal Request. At any time and from time to time prior to Original Project Final Completion of the Original Project Work or
Expansion Project Final Completion of the Expansion Project Work, Owner may request Contractor to make Changes in the Work. If Owner desires a Change in the Work Owner may, in its sole and absolute discretion and in writing, request a Change
Proposal from Contractor (“Change Proposal Request”). A Change Proposal Request shall set out, in reasonable detail, the Changes in the Work requested by Owner. Contractor shall issue a Change Proposal within ten (10) days (or
sooner, if possible) following its receipt of a Change Proposal Request or such longer period as is reasonably necessary if such ten (10) day period cannot be reasonably complied with. Contractor shall also issue a Change Proposal:
(i) when Contractor reasonably believes that a Change in the Work is necessary or desirable; or (ii) when a Change in the Work is made necessary by Laws. If Contractor refuses or fails to 

  

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timely provide a Change Proposal, or modifies or alters a Change Proposal Request, or if Owner and Contractor are unable to agree in writing upon the terms
of the Change Proposal, including but not limited to: (i) the amount of increase or decrease in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable), or (ii) the length of extension or
advancement, if any, of the Contract Time, Owner: (a) may issue a Construction Change Directive pursuant to Section 18.4 hereof, (b) may require Contractor to obtain when possible at least three bids from qualified
subcontractors to perform such Change in the Work, and Owner may select the subcontractor from said bidders to perform such Change in the Work, or (c) may engage other contractors, subcontractors and/or laborers to perform such Change in the
Work, and Contractor shall cooperate fully with any such persons, and any such hiring by Owner shall not affect this Agreement in any manner (other than to provide for a reduction in the Original Project Guaranteed Maximum Price or Expansion Project
Guaranteed Maximum Price (as applicable), equal to the value of such Work (but not less than the amount budgeted therefor in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price) not being performed by
Contractor, and in the Original Project Contractor’s Fee or Expansion Project Contractor’s Fee applicable thereto, subject to Section 18.5.2) and shall not be deemed to be a constructive termination. 
  
 18.3.1 “Change Proposal” means a
written proposal prepared and signed by Contractor setting forth (i) the Changes in the Work requested by Owner or proposed by Contractor, (ii) the amount of adjustment, if any, in the Original Project Guaranteed Maximum Price or Expansion
Project Guaranteed Maximum Price (including pursuant to Section 18.4.3 below) due to such Change, and (iii) the extent of adjustment, if any, in the Contract Time due to such Change. A Change Proposal is only a proposal unless and
until signed and accepted by Owner as a Change Order. 
  
 18.4
Construction Change Directive 
  
 18.4.1 “Construction Change Directive” means a written order initiated, prepared and signed by Owner and given to Contractor directing a Change in the Work or an allocation of the Original Project Owner Contingency
or Expansion Project Owner Contingency (as applicable) and stating a proposed basis for adjustments, if any, in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable)or Contract Time, or any of
them or any combination of them. 
  
 18.4.2 Owner may, by Construction Change Directive, without invalidating or breaching the Contract, order a Change in the Work or apply a portion of the Original Project Owner Contingency or Expansion Project Owner Contingency (as
applicable). Upon receipt of a Construction Change Directive, Contractor shall promptly proceed with the Change in the Work involved (including implementing any reductions or accelerations in the Work) and, within ten (10) days of receipt of
the related Construction Change Directive, advise Owner of the Contractor’s agreement (in which case Contractor shall sign and return the Construction Change Directive) or disagreement with the method, if any, provided in the 

  

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Construction Change Directive for determining the proper adjustment, if any, in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed
Maximum Price or Contract Time. Contractor agrees to immediately, when directed in writing by Owner, perform the Change in Work diligently and without delay. 
  

18.4.3 If the Construction Change Directive provides for an adjustment to either the Original Project Guaranteed Maximum Price
or Expansion Project Guaranteed Maximum Price, the adjustment may be based on one of the following methods: 
  
 (a) mutual acceptance of a lump sum properly itemized and supported by sufficient substantiating data to permit evaluation; 
  
 (b) unit prices stated in the Contract Documents or
subsequently agreed upon; or 
  
 (c) cost to be
determined in a manner agreed upon by the parties and a mutually acceptable fixed or percentage fee, which cost shall be based upon a proposal by the appropriate party. Any proposals from Subcontractors shall not include any amounts for overhead and
profit in excess of an aggregate of ten percent (10%) of the cost of such Subcontractor’s Work, unless approved by Owner. 
  
 18.4.4 A Construction Change Directive signed and unmodified by Contractor indicates the agreement of Contractor therewith,
including the method, if any, provided in the Construction Change Directive for determining the adjustment, if any, in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price or Contract Time. Upon
Contractor’s written acceptance and delivery thereof to Owner of the unmodified Construction Change Directive, that Construction Change Directive shall become a Change Order. If Contractor fails to advise Owner of its agreement or disagreement
with the proposed adjustment in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) or Contract Time within ten (10) days after the receipt of the Construction Change Directive to
Contractor, then the Construction Change Directive shall be deemed approved and shall become a Change Order, and Contractor shall have no right to any adjustment to the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed
Maximum Price or Contract Time in excess of the adjustments, if any, provided in the Construction Change Directive. 
  
 18.4.5 If Contractor disagrees with the method or adjustment in the Guaranteed Maximum Price or the Contract Time within the ten
(10) calendar day time period provided in Section 18.4.4 above, and the parties are unable within a reasonable period of time to reach an agreement, the matter shall be resolved under Article 22 of this Agreement. 

 

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 18.5 Determination of Increases or Decreases in Guaranteed Maximum Price 
  
 18.5.1 Any change in the Original Project Guaranteed
Maximum Price or Expansion Project Guaranteed Maximum Price (as applicable) as a result of net Changes in the Work (including a Construction Change Directive), shall be calculated based upon estimates of: (a) the aggregate additional amounts
(if any) to be paid (or which would have been paid if the subject Work had not been eliminated) by Contractor to its Subcontractors and Vendors for the applicable Change in the Work, without mark-up or other add-on by Contractor, and (b) the
increase or decrease (if any) in the Cost of the Work to be incurred (or which would have been incurred if the subject Work had not been eliminated) by Contractor with respect to the applicable Change in the Work to the extent (if any) such Change
were to be performed (or which would have been performed if the subject Work had not been eliminated) by Contractor directly. Any and all amounts or items excluded from the determination of the Cost of the Work, including all Non-Allowable Costs of
the Work, shall also be excluded from the determination of the cost of any Change in the Work. 
  
 18.5.2 Whether or not Contractor is entitled to an increase in the Original Project Guaranteed Maximum Price or Expansion Project
Guaranteed Maximum Price or modification of the Contract Time pursuant to the Contract as a result of any Changes in the Work, in no event shall Contractor be entitled to, and Contractor hereby waives any claim to, an increase in the Original
Project Contractor’s Fee or Expansion Project Contractor’s Fee, due to any and all such Changes. 
  
 (a) Notwithstanding the first paragraph of Section 18.5.2, (a) if the aggregate net amount of all Changes (as reflected
by Change Orders) and other adjustments in the Original Agreement Guaranteed Maximum Price pursuant to this Agreement increases the Original Agreement Guaranteed Maximum Price by more than US$12,755,000 (which is five percent (5%) of the
Original Agreement Guaranteed Maximum Price of US$255,500,000), then, subject to the terms of the Contract Documents, Contractor’s Fee shall be increased by an amount equal to five percent (5%) of the amount by which (x) the aggregate
net amount of all such Changes and other adjustments in the Original Agreement Guaranteed Maximum Price pursuant to this Agreement exceeds (y) US$12,755,000; and (b) if the aggregate net amount of all Changes (as reflected by Change
Orders) and other adjustments in the Original Agreement Guaranteed Maximum Price pursuant to this Agreement reduces the Original Agreement Guaranteed Maximum Price by more than US$12,755,000, then, subject to the terms of the Contract Documents,
Contractor’s Fee shall be equitably adjusted, taking into account the circumstances underlying such Changes. Contractor has fully considered the impact of the foregoing limitation and acknowledgement, and accepts all consequences relating
thereto. 
  
 (b) Notwithstanding the first
paragraph of Section 18.5.2, (a) if the aggregate net amount of all Changes (as reflected by Change Orders) and other adjustments in the Expansion Project Guaranteed Maximum Price 

  

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pursuant to this Agreement increases the Expansion Project Guaranteed Maximum Price by more than Seven Million Eight Hundred Thirty-Seven Thousand Nine
Hundred Sixty-Six United States Dollars (US$7,837,966) (which is five percent (5%) (rounded) of the initial Expansion Project Guaranteed Maximum Price of US$156,759,326 set forth in Section 3.1 of the Original Agreement), then,
subject to the terms of the Contract Documents, Contractor’s Fee shall be increased by an amount equal to five percent (5%) of the amount by which (x) the aggregate net amount of all such Changes and other adjustments in the Expansion
Project Guaranteed Maximum Price pursuant to this Agreement exceeds (y) Seven Million Eight Hundred Thirty-Seven Thousand Nine Hundred Sixty-Six United States Dollars (US$7,837,966); (b) if the aggregate net amount of all Changes (as
reflected by Change Orders) and other adjustments in the Expansion Project Guaranteed Maximum Price pursuant to this Agreement reduces the Guaranteed Maximum Price by more than Seven Million Eight Hundred Thirty-Seven Thousand Nine Hundred Sixty-Six
United States Dollars (US$7,837,966), then, subject to the terms of the Contract Documents, Contractor’s Fee shall be equitably adjusted, taking into account the circumstances underlying such Changes. Contractor has fully considered the impact
of the foregoing limitation and acknowledgement, and accepts all consequences relating thereto. 
  
 18.6 Simultaneous Submittal Requirements. In the event that Contractor considers that any Change Proposal Request or Construction Change Directive
may involve Changes to the Original Project Guaranteed Maximum Price, Expansion Project Guaranteed Maximum Price and/or the Contract Time, it shall be the Contractor’s fundamental duty and an essential requirement of this Contract to make
simultaneous submittals of all documents necessary to establish both such Changes in accordance with this Article 18, and to contemporaneously prove entitlement to both such Changes, and without any reservation of rights for future
consideration. Without limitation of Contractor’s rights under Article 22, if Contractor is unable to or does not so prove both such entitlements pursuant to and contemporaneously with such submittals, then Contractor shall be deemed to
have waived any further right to make a claim for the portion of the adjustment not provable at such time. 
  
 18.7 Continued Performance. Notwithstanding the status of any proposed, pending or disputed Change (including any Construction Change Directive)
pursuant to this Article 18 or any Claim pursuant to Article 20 below, or any dispute, and so long as Owner continues to timely make payment to Contractor of amounts properly due to Contractor under and subject to the terms of the
Contract Documents and not in dispute, Contractor shall not be entitled to and will not suspend any services under the Contract Documents, but will continue to be bound by the terms and conditions of the Contract Documents and will continue to
perform all services thereunder and proceed diligently with the performance of its Work in accordance with the terms hereof, including completing any Work described in any Construction Change Directive, unless Owner directs in writing otherwise.

  

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 18.8 Effect of Change Orders 
  
 18.8.1 Execution of a formal Change Order shall be the sole procedure for settlement of any and all
issues concerning the Original Project Guaranteed Maximum Price, Expansion Project Guaranteed Maximum Price and/or Contract Time, including any settlement based on a Claim pursuant to Article 20 hereof or pursuant to Article 22 hereof;
provided that a decision by the arbitrators in a proceeding instituted under Article 22 shall be deemed a Change Order for purposes of this Section 18.8.1. 
  
 18.8.2 No Change shall be deemed as settled unless and until the parties sign a formal Change Order
which fully and finally settles all pending issues pertaining to increases or decreases in the Original Project Guaranteed Maximum Price, Expansion Project Guaranteed Maximum Price and/or the Contract Time and without any reservation of rights for
future consideration. In that regard, the parties hereby agree that a signed Change Order shall be inclusive of any and all direct, indirect, consequential costs, damages or losses based upon any theory of recovery, including, but not limited to:
actual damages; all time-related costs; total costs; modified total costs; Eichleay formula or other equitable adjustment theories; full compensation for general conditions; extended site supervision and administration; all field, site, branch
and/or home office overheads; all general and administrative costs; and any other similar direct, indirect and/or time-related costs howsoever derived or formulated. 
  
 18.8.3 Any statement added by the Contractor to the face of an otherwise valid Change Order, or
contained in any transmittal or separate correspondence wherein the Contractor attempts to reserve rights to seek any further increases in the Contractor’s Fee, Original Project Guaranteed Maximum Price, Expansion Project Guaranteed Maximum
Price and/or Contract Time shall be null and void. 
  
 18.8.4 Any increase in the Original Project Guaranteed Maximum Price or Expansion Project Guaranteed Maximum Price, or extension in the Contract Time, shall be reduced and offset by any and all reductions or Changes in the Work which
would result in reduced Costs of the Work and/or advancement of the Contract Time, as the case may be (i.e., changes in the Work shall be netted out). 
  
 18.9 Verbal Instructions and Minor Changes in the Work. Contractor shall not be entitled to rely upon, and shall not implement any Change based
only on, Owner’s verbal instruction, except in emergency situations and when necessary to prevent the imminent threat of personal injuries or damage to the Work or Owner’s existing property, or for minor Changes within Contractor’s
scope of Work which are not material and do not involve an adjustment in the Guaranteed Maximum Price or an extension of the Contract Time (“Minor Changes”). Such Minor Changes may be effected by written or verbal order at
Owner’s election at any time. If the Contractor does not agree that such order constitutes a Minor Change, Contractor shall submit a Change Proposal pursuant to Section 18.3 above; 

  

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provided, however, Contractor shall still promptly perform the Work specified in the instruction or order from Owner. 
  
 18.10 Waiver and Release of Contractor’s Rights. Contractor
hereby confirms its willingness and ability to comply with the requirements of this Article 18. Contractor’s failure to first comply with the requirements of this Article 18, including the timely notice requirements, shall
constitute a waiver and release by Contractor of any and all rights to pursue a Claim. 
  
 ARTICLE XIX. 
 RECORD KEEPING AND AUDIT RIGHTS 
  
 19.1 Required Accounting Records. To facilitate audits by Owner or
Owner’s Lenders, including, but not limited to, for any purpose related to Change Orders, Changes or Change Proposals, Contractor shall at all times implement and maintain (and require all Subcontractors providing labor and/or materials on a
cost-plus basis pursuant to a subcontract having a contract price of HK$1,500,000 or more, as well as all Subcontractors as may otherwise be specified by Owner (collectively, the “Auditable Subcontractors”) to implement and
maintain) such cost control systems and daily record keeping procedures as may be necessary to attain proper fiscal management and detailed financial records for all costs related to the Work and as are otherwise reasonably satisfactory to Owner and
Owner’s Lenders. All cost and pricing data shall include, without limitation, the identification of any markups, vendor quotations and pricing methodologies. Records to be maintained by the Contractor and Auditable Subcontractors for purposes
of the Contract, including for purposes of all audits conducted pursuant to this Article 19 shall include, but not be limited to the following: (a) payroll records and payroll burden costs on actual wages and salaries (payroll taxes,
insurance, benefits, etc.); (b) all correspondence, minutes of meetings, daily logs including schedule status reports, memoranda and other similar data; (c) items such as bids, proposals, estimating work sheets, quotes, cost recaps,
tabulations, receipts, submittals, tax returns (except solely income tax returns), general ledger entries, canceled checks and computer data relating to the Work and this Contract, and (d) all other data relating to or arising out of the Work
and any other similar supporting documentation reasonably required by Owner or Owner’s Lenders. It is further agreed that records subject to audit include Project-related records maintained by parent companies, affiliates, subsidiaries or other
related parties. Contractor’s failure to cooperate or to provide access as described in this Article 19 shall be a breach of this Contract. 
  
 19.2 Purpose and Extent of Record Access. Owner and Owner’s Lenders, and their respective authorized representatives, shall have the right to
fully and completely audit, copy, investigate and review, and shall be afforded useful access to all of the records described in Section 19.1 above at all reasonable times (both during performance of the Work and after Original Project
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for purposes of inspection, audit, review and copying to the full extent as Owner or Owner’s Lenders may require relating to the Work or the Contract.
All such Contractor’s records and records of all Auditable Subcontractors shall also be made available to Owner for purposes related to compliance with Owner’s business ethics policies. Upon request, Contractor shall also fully cooperate
in arranging interviews with Contractor’s employees and shall require all Auditable Subcontractors to likewise fully cooperate pursuant to this Article 19. 
  
 19.3 Record Keeping Formats. Contractor may elect to maintain part of the records described in
Section 19.1 above in an electronic format. Contractor agrees that, if any Project-related information is maintained in an electronic format, such information will be made available to Owner and Owner’s Lenders in a readily useable
format within three (3) business days after a written request by Owner. 
  
 19.4 Certifications. Upon request, Contractor shall be required to certify that, to the best of its knowledge and belief, all data subject to audit pursuant to this Article 19 is accurate, complete and
current. Such certifications shall be made by Contractor to Owner and Owner’s Lenders in the case of this Contract, and by Auditable Subcontractors to Contractor in the case of subcontracts and purchase orders. 
  
 19.5 Flow-Down Provisions. Contractor shall require all Auditable
Subcontractors to comply with the provisions of this Article 19, by insertion of this “Right to Audit” clause (Sections 19.1 through 19.7 inclusive) into each respective related subcontract and purchase
order of all tiers relating to the Work. Owner shall have the right (but not obligation) to act as Contractor’s authorized representative for the purpose of conducting audits in accordance with this Article 19 of all accounting and
Project-related records in the possession of all Auditable Subcontractors. It is specifically understood, however, that Owner has no contractual relationship with any Subcontractor or Vendor of any tier. Likewise, it shall remain the
Contractor’s financial and contractual responsibility to resolve all such issues with its Subcontractors or Vendors. No such audit or activity by Owner or Owner’s Lenders shall release Contractor or any Subcontractor from, or waive, any of
Contractor’s or any Subcontractor’s obligations under the Contract Documents. Notwithstanding the provisions of this Article 19, Owner’s and Owner’s Lenders’ right to audit as to Subcontractors with subcontracts on a
lump sum basis shall be limited solely to those instances where there is an allegation of fraud or similar misconduct involving such Subcontractor. 
  
 19.6 Remedies. Certification of information pursuant to Section 19.4 above, and subsequent approval by Owner of invoices, billings and
Change Orders, shall not preclude a post-approval adjustment, including based upon a later Contract compliance or pricing audit. Specifically, Owner shall have the right to reduce any payments to Contractor or any Auditable Subcontractor by any
amounts attributable to incorrect or otherwise defective cost data. Contractor’s submission shall be considered defective when the cost or pricing data, as certified in accordance with provisions of Section 19.4, above, is not
accurate, complete or current. If an audit inspection or examination, conducted in accordance with this Article 19, 

  

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discloses overcharges by Contractor (or any Auditable Subcontractor) of any nature in excess of US$50,000 (including interest as provided in
Section 17.6.1) hereof, Contractor shall reimburse or cause such Auditable Subcontractor to reimburse, Owner for the total actual cost of Owner’s audit associated with such overcharge, including but not limited to the actual costs
of outside auditors and/or the use of Owner’s internal auditor at internal billing rates. 
  
 19.7 Record Retention. Contractor shall preserve and make available to Owner and Owner’s Lenders at Contractor’s principal office in Hong Kong, all such records and other data covered by this
Article 19, for a minimum period of three (3) years after the later of Original Project Final Payment and Expansion Project Final Payment is made or for such longer period as may be required by any Laws. 
  
 ARTICLE XX. 
 CLAIMS 
  
 20.1 Definition. A “Claim” is a demand or assertion by one of the parties seeking, as a matter of right, adjustment or interpretation of Contract terms, payment of money, extension of time or other relief with
respect to the terms of the Contract. The term “Claim” also includes other disputes and matters in question between Owner and Contractor arising out of or relating to the Contract. Claims must be made by written notice. The responsibility
to substantiate Claims shall rest with the party making the Claim. 
  
 20.2 Notice. Claims not made by Contractor within fourteen (14) days after occurrence of the event giving rise to such Claim shall be barred. Claims must be made by written notice. An additional Claim made after the initial
Claim has been implemented by Change Order will not be considered unless (a) based upon different facts from those giving rise to the initial Claim, and (b) submitted in a timely manner. 
  
 20.3 Pending Resolution. Notwithstanding any other provision of this
Contract or the other Contract Documents to the contrary, while any dispute, action or proceeding exists between Contractor and Owner, so long as Owner continues to pay all undisputed amounts hereunder (or is otherwise excused from making payment of
undisputed amounts pursuant to the terms of this Agreement), Contractor shall continue to perform the Work diligently and observe its other obligations in accordance with this Contract so as to complete the Work on or before the Original Project
Guaranteed Date of Substantial Completion or Expansion Project Guaranteed Date of Substantial Completion (as applicable), which agreement of Contractor shall be specifically enforceable. Notwithstanding any provision to the contrary herein or in the
other Contract Documents, Contractor shall not be relieved of any of its obligations hereunder unless pursuant to (but only to the extent of) a final judgment resolving any such dispute, action or proceeding. Contractor recognizes and acknowledges
that the provisions of this Section 20.3 and the completion of the Work on a timely basis notwithstanding any dispute, action or proceeding are fundamental to the contractual relationship established pursuant to this Contract, shall be

  

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specifically enforceable, and that Owner would not have entered into this Contract but for Contractor’s agreement set forth herein. Contractor
acknowledges that it understands and has duly considered and consulted with counsel concerning the significance of this provision. 
  
 20.4 Final Settlement of Claims. No Claim involving resolution of issues pertaining to the Original Project Guaranteed Maximum Price, Expansion
Original Project Guaranteed Maximum Price and/or Contract Time shall be deemed final until both parties sign a final and unconditional Change Order, or an arbitral tribunal duly convened hereunder makes a binding determination as described in
Section 20.5 and Article 22 below. With respect to non-judicial settlements, final and unconditional Change Orders signed by both parties shall be a condition precedent to Owner’s duty to make payments or adjust the Original
Project Guaranteed Maximum Price, Expansion Original Project Guaranteed Maximum Price or Contract Time. 
  
 20.5 Unresolved Claims. Any Claims or disputes arising out of this Contract which are not resolved by the parties within sixty (60) days, may
be pursued in accordance with Article 22 hereof. Contractor shall identify in Contractor’s Applications for Progress Payment and Application For Final Payment any such Claims which remain unresolved. 
  
 ARTICLE XXI. 
 OWNER’S LENDERS 
  
 21.1 Owner’s Lenders. Contractor acknowledges and agrees that Owner has provided notice to Contractor, and Contractor shall before entering into any subcontract or purchase contract provide notice to every
Subcontractor and Vendor, that Owner’s funds for construction of the Project, including payment of the Original Project Guaranteed Maximum Price and Expansion Original Project Guaranteed Maximum Price, shall be borrowed and or derived
substantially from one or more lenders providing financing for the Project from time to time (“Owner’s Lenders”), and Owner’s ability to obtain such funds shall be subject to one or more loan documents and conditions
precedent to advances thereunder. The term “Owner’s Lenders” shall also mean and include any and all trustees, intercreditor agents, disbursement agents, administrative agents, consultants, architects, inspectors, construction
managers, auditors and engineers appointed or retained directly or indirectly by or on behalf of any of Owner’s Lenders. 
  
 21.2 Assignment and Default. Owner shall have the right to assign the Contract to any one or more of Owner’s Lenders. If an event of default
by Owner has occurred under any loan documents relating to Owner’s Lenders, Contractor agrees that Owner’s Lenders may at anytime thereafter upon written notice to Contractor (“Lender’s Notification”), require
Contractor to continue to perform Work under the Contract, and in such Lender’s Notification, Owner’s Lenders may elect either to (a) not assume any of Owner’s rights or obligations under the Contract, or (b) assume
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Notification, and notwithstanding any event of default by Owner under any such loan documents and whether Owner’s Lenders elect clause (a) or (b),
Contractor shall thereafter continue to properly perform the Work and its obligations under the Contract in accordance with the terms of the Contract, so long as (i) Contractor continues to be paid, by either Owner or Owner’s Lenders in
accordance with the terms of this Agreement, for all Work not in dispute and properly performed in accordance with the terms of the Contract from and after the date of Lender’s Notification, and (ii) the other obligations of Owner under
the Contract Documents which are necessary to be performed in order for Contractor to be able to continue to properly perform the Work continue to be performed and satisfied by Owner, Owner’s Lenders or otherwise. 
  
 21.3 Owner’s Lenders Election. Notwithstanding any provision of
the Contract which may give Contractor the right to terminate the Contract or suspend or discontinue performance thereunder, Contractor agrees not to terminate the Contract or suspend or discontinue performance thereunder without first providing
Owner and Owner’s Lenders with thirty (30) days prior written notice, and during such thirty (30) days Owner’s Lenders may elect whether to (a) allow Contractor to terminate the Contract, not cure any defaults of Owner and
not assume any of Owner’s obligations under the Contract, or (b) assume Owner’s obligations arising under the Contract from and after the date of Owner’s Lenders’ election, and require Contractor to continue
Contractor’s performance under the Contract. If Owner’s Lenders shall timely elect to proceed under clause (b) herein, Contractor agrees not to terminate the Contract or suspend or discontinue its performance thereunder, and to
continue to properly perform all Work and obligations under the Contract in accordance with the terms of the Contract and accept payment and/or performance from Owner or Owner’s Lenders, so long as Contractor continues to be paid in accordance
with the terms of this Agreement for all amounts due in accordance with the terms of the Contract after Owner’s Lenders’ election as specified above. The thirty (30) day period provided above shall run concurrently with the thirty
(30) day period provided under Section 17.6.1 if Contractor shall give such thirty (30) day notices under this Section 21.3 and under Section 17.6.1 concurrently. Promptly upon request by either Owner or
Owner’s Lenders, Contractor shall enter into an agreement with Owner and Owner’s Lenders incorporating the terms of this Section 21.3 and Section 21.2, along with such other matters reasonably requested by Owner’s Lenders.

  
 21.4 Payment and Work Continuation. Notwithstanding any
other provision of the Contract or otherwise, including anything in this Article 21, and unless Owner’s Lenders elect to assume the Contract, Owner’s Lenders shall have no obligation to reimburse or pay Contractor for (a) any
Work which has been the subject of a prior advance of loan funds by Owner’s Lenders to Owner and paid to Contractor, and/or (b) any Work which is the subject of a dispute by Owner’s Lenders as to its proper quality, scope or
compliance with the Contract. Owner’s Lenders shall have the benefit of all claims, defenses to payment and setoffs available to Owner under the Contract as to amounts that Contractor contends are due for Work under the Contract.
Notwithstanding any terms of the Contract to the contrary, Contractor will diligently continue to perform the Work and its obligations under 

  

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the Contract notwithstanding any dispute arising with Owner, Owner’s Lenders or any other person or entity, so long as (i) Contractor continues to
be paid in accordance with the terms of this Agreement for amounts due in accordance with the terms of the Contract, and (ii) the other obligations of Owner under the Contract Documents which are necessary to be performed in order for
Contractor to be able to continue to properly perform the Work continue to be performed and satisfied by Owner, Owner’s Lenders or otherwise. Except to the extent expressly provided in Section 21.3 hereof, nothing in this Contract,
or otherwise, shall cause or impose any obligation on Owner’s Lenders to fund any amounts, including any loan advance, to Contractor. Owner’s Lenders may enforce the obligations of the Contract with the same force and effect as if enforced
by Owner, and may (but need not) perform the obligations of Owner (unless Owner’s Lenders elect to perform such obligations pursuant to this Article 21), and Contractor will accept any such performance in lieu of performance by Owner in
satisfaction of Owner’s obligations hereunder. Subject to the foregoing limitations on assignment and delegations, all of the terms and provisions of the Contract shall be binding upon and shall inure to the benefit of the parties to this
Agreement, and their respective permitted transferees, successors, assigns and legal representatives. 
  
 21.5 Payments. Owner’s Lenders shall have the right at any time and from time to time to make payment directly to Contractor and/or by joint
payee check to Contractor and any Subcontractor or Vendor, for Work performed under the Contract. 
  
 21.6 Audit Rights. Owner’s Lenders shall have and be entitled to all of the same audit and inspection rights, as Owner has under Article
19 of this Agreement. 
  
 21.7 Access. Owner’s
Lenders shall have and be entitled to all of the same rights to access and inspect the Site and Work, wherever located, as Owner has under the Contract documents, at reasonable times and upon reasonable notice and subject to reasonable safety
precautions. 
  
 21.8 Material Changes. Contractor and
Owner acknowledge and agree that certain Changes, including increases in the Original Project Guaranteed Maximum Price and Expansion Original Project Guaranteed Maximum Price and extensions of the Contract Time, and allocation of the Owner
Contingency, may be subject to the approval of Owner’s Lenders and agrees that no such Changes shall become effective without such approval. 
  
 21.9 General Cooperation. Contractor agrees to cooperate fully with all such Owner’s Lenders and Contractor agrees to (a) provide written
notice to Owner’s Lenders of any Change in the Work, material Change in the manner or amounts paid to Contractor, extension or acceleration of Contract Time, or material Change in the Drawings or Specifications, (b) authorize
Subcontractors and Vendors to communicate directly with Owner’s Lenders regarding the progress of the Work, (c) provide Owner’s Lenders with reasonable working space and access to telephone, copying and telecopying equipment,
(d) communicate with Owner’s Lenders and, on request to execute, provide and/or deliver as the case may be, such documents, certificates, consents, invoices and instruments, and other 

  

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information, as Owner’s Lenders may reasonably request with respect to the Work, the Project and/or payment of the cost thereof, (e) enter into
such amendments to the Contract Documents as Owner’s Lenders may reasonably request so long as such amendments do not materially or substantially alter Contractor’s rights, duties or obligations under the Contract Documents, (f) enter
into a consent to assignment in favor of Owner’s Lenders consenting to the collateral assignment of the Contract to Owner’s Lenders and such other matters as are customary in financings of major projects such as the Project and as
Owner’s Lenders may reasonably request , (g) provide subcontract related documents to Owner or Owner’s Lenders upon request and (g) otherwise facilitate Owner’s Lenders review of the construction of the Project. 

 
 21.9.1 Without limiting the provisions of
Section 21.9, each Contractor shall deliver (1) a certificate to the Owner and the Owner’s Lenders attaching true and complete copies of (x) written resolutions approving the execution, delivery and performance of this Agreement
and the terms and conditions thereof and authorizing a named person or persons to execute the Agreement and any other documents to be delivered pursuant to this Agreement and (y) such Contractor’s governing/constitutive documents
(including, but not limited to its articles, bylaws and shareholders agreements, as applicable) and (2) an opinion reasonably satisfactory to Owner’s Lenders with respect to this Agreement. Each of the documents referenced in (1) and
(2) above shall be delivered by the applicable party within 10 days of execution of this Agreement. 
  
 21.9.2 Contractor shall cause Guarantors to deliver (1) a certificate to the Owner and the Owner’s Lenders attaching true
and complete copies of (x) written resolutions approving the execution, delivery and performance of the Guarantee and the terms and conditions thereof and authorizing a named person or persons to execute the Guarantee and any other documents to
be delivered pursuant to its terms and (y) such Guarantor’s governing/constitutive documents (including, but not limited to its articles, bylaws and shareholders agreements, as applicable) and (2) an opinion reasonably satisfactory to
Owner’s Lenders with respect to the Guarantee. Each of the documents referenced in (1) and (2) above shall be delivered by the applicable party concurrently no later than the consummation of Owner’s refinancing of the Project
(currently scheduled to be on or about August 15, 2005). 
  
 ARTICLE XXII. 
 DISPUTE RESOLUTION AND GOVERNING LAW 
  
 22.1 Arbitration. Any dispute, controversy or claim arising out of or relating to the Contract, or the breach,
termination or validity thereof (including any tortious or statutory claim) (any of the foregoing being a “Dispute”) shall, upon the written request (“Request”) of either party hereto, be resolved through good faith
negotiation between upper-level management of the parties. Notwithstanding the foregoing, if the parties are unable to resolve a Dispute through negotiation within thirty (30) days after receipt by the receiving party of the Request (the
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Date”), then the Dispute shall be finally settled by arbitration in accordance with the Rules of Arbitration of the International Chamber of
Commerce (“ICC”) then in effect (the “ICC Rules”), except as modified herein. The place of arbitration shall be, and the award shall be rendered in, Hong Kong, and the language of the arbitration proceedings and of
the award shall be English. There shall be three (3) arbitrators. Each arbitrator shall (a) have a good background in common law practice, (b) be experienced in a construction project of the size and nature of the Project, and
(c) in no event be (i) involved in any way with any other casino or gaming project in Macau, (ii) related or involved in any way with any of the parties to this Agreement, (iii) an owner’s representative or contractor, or
(iv) a national of the country where Contractor’s parent or Owner’s parent were formed or maintain their respective principal place of business. Leighton, China/HK and China/Macau shall jointly nominate one arbitrator and Owner shall
nominate one arbitrator, in each case in accordance with the relevant provisions of the ICC Rules. The two arbitrators so nominated shall (following their confirmation by the ICC Court) nominate the third arbitrator, who shall serve as chair of the
tribunal, within 30 days of the confirmation of nomination of the second arbitrator. If either Owner or Contractor fails to timely nominate an arbitrator, then at the request of the other party, or if the two arbitrators appointed by the parties
fail to appoint the third arbitrator, then at the request of either party, any arbitrator not so nominated shall be appointed by the ICC Court of Arbitration in accordance with the ICC Rules. The arbitration hearing shall be held as soon as
practicable after the appointment of the arbitrators but in any case within six (6) months after signing, or finalization of, the Terms of Reference (as defined in the ICC Rules). Consistent with the expedited nature of arbitration, each party
will provide the other with copies of documents upon which it intends to rely in support of or in opposition to any claim or defense. The parties shall be entitled to the production of all documents relevant to the dispute; and on the request of any
party, the arbitrators shall order a party to produce all such relevant documents. Any arbitral award shall be final and binding upon the parties, and shall be the sole and exclusive remedy between the parties regarding any claims, counterclaims,
issues, or accountings presented to the arbitral tribunal. To the fullest extent allowed by law, each party hereby waives any right to appeal such award. Judgment upon any award may be entered in any court having jurisdiction. By agreeing to
arbitration, the parties do not intend to deprive any court of its jurisdiction to issue a pre-arbitral injunction, pre-arbitral attachment or other order in aid of arbitration proceedings and the enforcement of any award. Nevertheless, without
prejudice to such interim or provisional remedies as may be available under the jurisdiction of a national court, the arbitral tribunal shall itself have full authority to grant interim or provisional remedies, including authority to order the
parties to request that a court modify or vacate any interim or provisional remedy issued by a such court, and to award damages for the failure of any party to respect the arbitral tribunal’s orders to that effect. The arbitral tribunal shall
not, under any circumstances, assume the powers of an amiable compositeur or decide ex aequo et bono, but shall reach its decision in accordance with the terms of the Contract and applicable Laws. This agreement to arbitrate shall be
binding upon the successors, assigns and any trustee or receiver of each party. The existence of any claim, dispute or legal proceeding shall not relieve Contractor from its obligation to properly perform its Work as set forth in the Contract
Documents. 
  

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 22.2 Consolidation of Disputes. In order to facilitate the comprehensive resolution of related
disputes, all disputes between Owner and Contractor that arise under or in connection with the Contract or any other agreements entered into by these parties (including all Disputes, as defined in this Agreement) that are being arbitrated under this
Article 22 may be brought in a single arbitration under this Article 22. Accordingly, upon the request of any party to an arbitration proceeding constituted under this Article 22, the arbitral tribunal shall consolidate such
arbitration proceeding with, or order the hearing of such proceeding together with, any other arbitration proceeding relating to such disputes or Disputes, provided that the arbitral tribunal shall first determine that (i) there are issues of
fact or law common to the proceedings so that a consolidated proceeding would be more efficient than separate proceedings, and (ii) no party would be unduly prejudiced as a result of such consolidation through undue delay or otherwise. Where
different tribunals have been or are in the process of being appointed in relation to such proceedings, the decision as to whether the proceedings are to be consolidated or heard at the same time shall be made by the arbitral tribunal which was
first in time to be fully appointed in respect of those proceedings. If consolidation is so ordered, the parties to each of the proceedings that is the subject of the order will be treated as having consented to the consolidated proceedings and the
disputes or Disputes in question being finally decided by the arbitral tribunal which ordered the consolidation. The entities comprising Contractor hereunder shall be treated as one party for all purposes of this Article 22. 
  
 22.3 Legal Fees. The non-prevailing party (in accordance with the
determination of the arbitral tribunal) in any proceeding instituted pursuant to this Article 22 shall promptly pay to the prevailing party all costs, disbursements and reasonable attorneys’ fees incurred by the prevailing party in
connection with such proceeding; provided that if the arbitral tribunal shall award costs otherwise, the parties shall comply with such decision and allocation. 
  

22.4 Continued Performance. In the event of a Dispute under this Agreement or any other Contract Document, the parties shall not be excused from
and shall continue to perform their respective obligations thereunder; provided, however, that if a Dispute relates to the payment of an amount by Owner under this Agreement, Owner shall be entitled to withhold the payment of such disputed amount
pending resolution of the Dispute. In the event the arbitral tribunal shall have determined that any amounts so withheld by Owner shall have been wrongfully withheld in violation of this Agreement, Contractor shall be entitled to interest at the
then existing prime rate of Bank of China (Hong Kong) plus one percent (1%) from the date when such amounts should have been paid by Owner through the date when such amounts are finally received by Contractor. 
  
 22.5 Governing Law. The Contract Documents shall be governed by, and
construed in accordance with, the laws of England (including, without limitation, the laws specifying the nature and scope of the warranties to be provided by Contractor hereunder). 
  

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 22.6 Non-Waiver. In resolving disputes arising out of this Contract, it is expressly agreed that
no action or failure to act by Owner, Contractor or any agent, representative, employee or officer of either of them (including Owner’s Representative and Contractor’s Representative) shall constitute a waiver of any right or duty afforded
to either party in the Contract Documents. It is likewise expressly agreed that any action or failure to act by either party shall not constitute approval of or acquiescence in any breach of this Contract, except as are specifically agreed to in
writing by the parties’ corporate officers. 
  
 ARTICLE
XXIII. 
 PROPRIETARY INFORMATION AND USE OF OWNER’S NAME 
  
 23.1 Proprietary Information. Owner considers all information (regardless of form) pertaining to the Project to be
confidential and proprietary, including information which is prepared or developed by or through Contractor, Owner, Owner’s Consultants or Owner’s Contractors, unless otherwise stated to Contractor in writing. Contractor shall not, and
shall not allow, suffer or permit any Subcontractors or Vendors to, disclose any such information without Owner’s prior written consent. Contractor shall obtain similar written agreements from each and every Subcontractor and Vendor as Owner
may reasonably request. 
  
 23.2 Advertising and Use of
Owner’s Name. Contractor shall not issue any news releases or any other advertising pertaining to the Work or the Project, including advertising its participation in the Project, without obtaining Owner’s prior written approval.
Contractor hereby agrees not to use the name of Owner’s premises, or any variation thereof, or any logos used by Owner, in connection with any of Contractor’s business promotion activities or operations without Owner’s prior written
approval. Contractor shall require its Subcontractors and Vendors to comply with the requirements imposed upon Contractor by this Article 23, including obtaining Owner’s prior written consent to the form and content of any promotional or
advertising publications or materials which depict or refer to their respective roles in providing Work for the Project. 
  
 23.3 Use of Drawings. All plans, Drawings, Specifications and other documents furnished to Contractor, including, but not limited to, the Contract
Documents, are the property of Owner and are for use solely with respect to the Work and are not to be used by Contractor or any Subcontractor on any other projects or for any other purpose. 
  
 ARTICLE XXIV. 
 MISCELLANEOUS PROVISIONS 
  
 24.1 Assignment. Because of the special experience Contractor has represented it has and unique nature of the services to be rendered by Contractor under the Contract Documents, Contractor shall not assign or
transfer its interest in the Contract or delegate its obligations thereunder, or subcontract the entire Work either as a whole or in the aggregate, without the prior written consent of Owner. Any purported assignment or transfer by 

  

 148 

 
Contractor without such consent shall be null and void. Owner may at any time and from time to time, upon notice to but without consent of Contractor, assign
or transfer the Contract or delegate its obligations to an affiliate or subsidiary of Owner, or to an entity which acquires all or substantially all of Owner’s interest in the Project or all or substantially all of the assets or member
interests of Owner, and/or change its name from time to time. So long as Owner’s assignee or transferee assumes in writing Owner’s obligations and liabilities under the Contract, and Owner represents in writing at the time of assignment or
transfer that the assignee or transferee has at least the same financial status as Owner does at the time of the assignment or transfer, Owner shall thereafter be released from its obligations and liabilities under the Contract. 
  
 24.2 Subordination. Notwithstanding any other provision of the
Contract Documents, Contractor agrees for itself and for every Subcontractor and Vendor and every other person performing any services or providing any materials relating to the Work, that any and all liens and lien rights and benefits (including
enforcement rights) Contractor and any of the other may have under applicable law shall at all times be subordinate and junior to any and all liens, security interests, mortgages, deeds of trust and other encumbrances of any kind (on the Site and
otherwise) in favor of any of Owner’s Lenders (“Lender Liens”), notwithstanding that Work may be or is commenced or done on, and materials may be or are furnished to, the Site prior to any Lender Liens being imposed upon or
recorded against the Site or any of Owner’s assets and before expiration of the time fixed under applicable law for exercising mechanics’ and materialmen’s lien rights, and hereby renounces, to the fullest extent allowed by law, any
preferential rights that Contractor and its Subcontractors and Vendors, and any other person performing any services or providing any materials relating to the Work, would otherwise have with respect to its lien rights or otherwise. Contractor
shall, and Contractor shall require every Subcontractor and Vendor at every tier, and any other person performing services or providing materials relating to the Work to, sign and deliver to Owner and Owner’s Lenders from time to time upon
request by Owner or any of Owner’s Lenders, written acknowledgments and restatements of the provisions of this Section 24.2 and the subordination and renunciation described herein. 
  
 24.3 No Third-Party Beneficiaries. This Contract shall be binding upon
and inure solely to the benefit of the parties hereto and their successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person or entity the right to enforce any term of it or any legal
or equitable right, benefit or remedy of any nature whatsoever under or by virtue of the Contracts (Rights of Third Parties) Act 1999; provided, however, that (a) each of the Owner’s Lenders shall be a third party beneficiary of the
rights, benefits or remedies of Owner, and (b) each Owner Indemnitee shall be a third party beneficiary of the rights, benefits or remedies of Owner. 
  
 24.4 Enforceability. In the event that any provision in the Contract Documents or any portion thereof is determined to be invalid, unenforceable or
void, the remainder of the Contract Documents shall be fully binding with the same force and effect as though the invalid, unenforceable or void provision had been omitted. 
  

 149 

 24.5 Headings. Section and other headings are not to be considered part of this Agreement, have
been included solely for the convenience of the parties, and are not intended to be full or accurate descriptions of the contents. 
  
 24.6 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. 
  
 24.7
Subcontractors. Contractor shall (a) procure the observance, (b) be responsible for enforcing and shall be liable for any non-compliance, and (c) shall indemnify Owner and the Owner Indemnitees against non-compliance, of the
provisions of this Agreement by each Subcontractor and Vendor such that Owner has the same benefits and rights specified in this Agreement in respect of any subcontracted Work. 
  
 24.8 Waiver. No modifications of the Contract shall be binding unless executed in writing by the parties to this
Agreement. No waiver of any of the provisions of the Contract shall be binding unless executed in writing by the waiving party, and any such waiver shall not constitute a waiver of any other provision of the Contract, nor shall any such waiver
constitute a continuing waiver unless otherwise expressly provided. 
  
 24.9 Sovereign Immunity. Each of Leighton, China/HK and China/Macau agrees that to the extent that it may in any jurisdiction claim for itself or its assets or revenues immunity from suit, execution, attachment (whether in aid of
execution, before judgment or otherwise) or other legal process and to the extent that in any jurisdiction there may be attributed to itself or its assets or revenues such immunity (whether or not claimed), it will not claim and irrevocably waives
such immunity to the full extent permitted by the laws of such jurisdiction. 
  
 24.10 Survival. The provisions of this Agreement, including Contractor’s covenants, representations, guaranties, releases, warranties and indemnitees and the benefit thereof, shall survive as valid and
enforceable obligations notwithstanding any termination, cancellation or expiration of the Contract, acceptance of the Work, Original Project Final Completion of the Original Work or Original Project, Expansion Project Final Completion of the
Expansion Work or Expansion Project or any combination of them. Establishment of the time periods as described in Article 10 hereof relates only to the specific obligations of Contractor to correct the Work, and has no relationship to the
time within which the obligation to comply with the Contract Documents is sought to be enforced, nor to the time within which proceedings are commenced to establish Contractor’s liability with respect to Contractor’s obligations other than
specifically to correct the Work. 
  
 24.11 Independent
Contractor. While Contractor is required to perform the Work in strict accordance with the Contract Documents, Contractor shall at all times be an independent contractor and responsible for and have control over all construction means, methods,
techniques, sequences and procedures for constructing, coordinating and 

  

 150 

 
scheduling all portions of the Work to achieve the requirements of the Contract Documents. Nothing in the Contract Documents shall be deemed to imply or
represent or be construed to (a) make Contractor, its supervisors, employees, its Subcontractors or Vendors of any tier the agents, representatives or employees of Owner, or (b) create any partnership, joint venture, or other association
or relationship between Owner and Contractor or any Subcontractor, nor shall anything contained in the Contract Documents be deemed to give any third party any claim or right of action against Owner or Contractor which does not otherwise exist
without regard to the Contract Documents. Any approval, review, inspection, supervision direction or instruction by Owner or any party on behalf of Owner, including any of Owner’s Lenders, in respect to the Work or services of Contractor shall
relate to the results Owner desires to obtain from the Work, and shall in no way affect Contractor’s independent contractor status or obligation to perform the Work in accordance with the Contract Documents. 
  
 24.12 Privileged Business. Contractor acknowledges that Wynn Resorts,
Limited and its subsidiaries and other affiliated companies, including, but not limited to, Owner, own and operate businesses that are subject to and exist because of privileged licenses issued by governmental authorities. If requested, Contractor
shall, and Contractor shall require Subcontractors and Vendors to obtain any qualification or clearance required by any regulatory authority having jurisdiction over Owner, Wynn Resorts, Limited, or any subsidiary or affiliate thereof, in each case
within seven (7) days after Contractor becomes aware of the requirement to obtain such qualification or clearance. If Owner, Wynn Resorts, Limited, or any subsidiary or affiliate thereof is directed by any governmental authority to cease doing
business with Contractor or any Subcontractor or Vendor, then such event shall be deemed a breach of the Contract by Contractor and Owner shall have the right to terminate the Contract and/or any subcontract or purchase order, among all other
remedies available to Owner. Contractor shall not be entitled to an increase in the Original Project Guaranteed Maximum Price or Expansion Original Project Guaranteed Maximum Price or an extension of the Contract Time in connection with the
replacement of a Subcontractor or Vendor on the Project as the result of the termination of its subcontract or purchase order pursuant to this Section 24.12. 
  
 24.13 Entire Agreement. The Contract Documents set forth the full and complete understanding of the parties as of the
Effective Date of this Contract and supersede any and all agreements, understandings and representations made or dated prior thereto. Unless specifically enumerated or incorporated herein, the Contract Documents do not include any other documents,
any qualifications to the Original Project Guaranteed Maximum Price or Expansion Original Project Guaranteed Maximum Price or Contract Time contained in Contractor’s bid or any correspondence or other proposals by either party dated prior to
the Effective Date. No modifications of the Contract shall be binding unless executed in writing by the parties to this Agreement. Each and all of the Exhibits A through and including O referenced in this Agreement are hereby
expressly incorporated herein by this reference. 
  

 151 

 24.14 Rights and Remedies. Unless otherwise provided in this Contract, duties and obligations
imposed by the Contract and rights and remedies available thereunder shall be in addition to and not in limitation of duties, obligations, rights and remedies otherwise imposed or available at law or in equity. 
  
 24.15 Further Acts and Assurances. Each party shall promptly and duly
execute and deliver all such documents and assurances and take such further action as may be necessary or appropriate or reasonably requested by the other party in order to carry out more effectively the intent and purpose of this Contract and to
establish and protect the rights and remedies created or intended to be created hereunder. 
  
 24.16 Expenses. Except as otherwise expressly provided herein, each party shall pay its own costs and expenses (including the fees and expenses of its own agents, representatives, advisers, counsel and
accountants) necessary for the negotiation, preparation, execution, delivery, performance of and compliance with this Contract. 
  
 24.17 Press Releases. Contractor shall not, and shall require that the Subcontractors and Vendors do not, issue any press release or make any other
public announcement relating to the transactions contemplated hereby or disclose the existence or content of this Contract without the prior written consent of the Owner. Notwithstanding the foregoing, the parties (and each employee, representative,
or other agent of the parties) may disclose to any and all persons, without limitation of any kind, the tax treatment and any facts that may be relevant to the tax structure of the transaction, provided, however, that the foregoing provisions of
this sentence shall not allow any party (or any employee, representative, or other agent thereof) to disclose any other information that is not relevant to understanding the tax treatment and tax structure of the transaction (including the identity
of any party and any information that could lead another to determine the identity of any party), or any other information to the extent that such disclosure could result in a violation of any applicable securities Law. 
  
 24.18 Late Payments by Contractor. If Contractor shall fail to make
any payment to Owner within five (5) days after the due date thereof, interest shall thereafter commence to accrue (from the original due date of payment under the applicable provision in this Agreement or as required pursuant to any
proceedings instituted under Article 22) on such delinquent amount at then existing prime rate of Bank of China (Hong Kong) plus one percent (1%), until paid. 
  
 24.19 Construction of Agreement. Each party hereto acknowledges and agrees that (a) it has been afforded full
opportunity to review and negotiate the terms and provisions of this Agreement, (b) it was represented by counsel in connection therewith, and (c) this Agreement shall be construed without the aid of any principle requiring construction
against the party drafting or causing this Agreement to be drafted. 
  

 152 

 24.20 Business Days. References in this Agreement to “business days” shall mean days,
other than a Saturday or Sunday, on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in Hong Kong. 
  
 ARTICLE XXV. 
 NOTICES 
  
 25.1 Notice Procedures. All
notices, demands, requests, instructions and other communications relating to the Contract Documents (collectively, “Notices”), shall be in English, in writing and effective upon the earlier of actual receipt by the parties at the
addresses listed below or three (3) business days after being sent, whether sent by email (followed by hard copy sent by regular mail or by confirmed fax as provided herein), by facsimile transmission (with confirmation of receipt), by
registered or certified mail, or by messenger or reputable overnight courier. 
  
 25.2 Notices To Owner. All Notices to Owner (except requests for information, Shop Drawing submittals, instructions and similar notices) shall be sufficient when sent in accordance with Section 25.1
above and addressed as follows: 
  
 Wynn Resorts (Macau) S.A.

 c/o Wynn Resorts, Limited 
 Legal Department 
 3131 Las Vegas Boulevard South 
 Las Vegas, Nevada 89109 
 Facsimile No. (702) 770-1520 
 Telephone No. (702) 770-2111 
  
 Todd Nisbet, Executive Vice President Construction 
 Wynn Design and Development LLC 
 680 Pilot Road Suite I 
 Las Vegas, Nevada 89119 
 Facsimile No.
(702) 770-5001 
 Telephone No. (702) 770-5100 
  
 And: 
  
 Gary Chin, Director of Construction 
 Wynn
Design and Development LLC 
 180 Alemeda Dr. Carlos d’Assumpção 
 5th Floor, Tong Nam
Ah Commercial Centre 
 Macau SAR 
 Facsimile No. (853) 757-635 
 Telephone No. (853) 795-5000 
  

 153 

 Contractor shall concurrently with delivery to Owner provide to Owner’s Lenders copies of all
Notices (except requests for information, Shop Drawing submittals, instructions and similar notices) at an address or addresses to be provided, with copies to: 
  

To be provided. 
  
 25.3 Notices To Contractor. All Notices to Contractor shall be sufficient when sent as set forth in Section 25.1 above and addressed as
follows: 
  
 Michael Harvey, Project Director 
 Leighton - China State Joint Venture 
 39th
Floor, Sun Hung Kai Centre 
 30 Harbour Road 
 Hong Kong 
 Facsimile No. (852) 2528-9030 
 Telephone No. (852) 2823-1111 
  
 25.4 Change of Address. Either party may, from time to time, designate in accordance with this Article 25 a different individual and/or
address to which Notices are to be delivered. 
  
 ARTICLE XXVI.

 REPRESENTATIONS AND WARRANTIES 
  
 26.1 Contractor’s Representations and Warranties. Each of Leighton, China/HK and China/Macau jointly and severally represents and warrants to
Owner that: 
  
 (a) it is a company duly
organized, validly existing and is current on all payments to maintain such existence under the laws of the jurisdiction of its formation. It has all necessary power and authority to carry on its business as presently conducted, to own or hold under
lease its properties and to enter into and perform its obligations under the agreements to which it is or is to be a party. It is duly qualified or licensed to do business in Macau and in all jurisdictions wherein the nature of its business and
operations or the character of the properties owned or leased by it makes such qualification or licensing necessary and where the failure to be so qualified or licensed would impair its ability to perform its obligations under the Agreement or would
result in a material liability to or would have a material adverse effect on its financial condition, business, operations or prospects; 
  
 (b) it has all necessary power and authority to execute, deliver and perform its obligations under the Agreement, and each of the
execution, delivery and performance by it of the Agreement has been duly authorized by 

  

 154 

 
all necessary action on its part, does not require any approval, except as has been heretofore obtained, of its governing body or any consent of or approval
from any trustee, lessor or holder of any indebtedness or other obligation of it, except for such as have been duly obtained, and does not contravene or constitute a default under its organizational documents or, to the best of its knowledge, any
provision of applicable Law or any agreement, judgment, injunction, order, decree or other instrument binding upon it, or subject the Work, the Project or any component part thereof or the Site or any portion thereof to any Lien other than as
contemplated or permitted by the Agreement; and it is in compliance with all applicable Laws and approvals (i) which govern its ability to perform its obligations under the Agreement or (ii) the noncompliance with which would have a
material adverse effect on its ability to perform its obligations under the Agreement; 
  
 (c) neither the execution and delivery by it of the Agreement, nor the consummation by it of any of the transactions contemplated hereby,
requires, with respect to it, the consent or approval of, the giving of notice to, the registration with, the recording or filing of any document with, or the taking of any other action in respect of any government authority, except such as are not
yet required (as to which it has no reason to believe that the same will not be readily obtainable in the ordinary course of business upon due application therefor) or which have been duly obtained and are in full force and effect; 
  
 (d) it has duly and validly executed and delivered the
Agreement and the Agreement constitutes a legal, valid and binding obligation of it enforceable against it in accordance with its terms; 
  
 (e) it has all the required skills and capacity necessary to perform or cause to be performed the Work in a proper, timely and
professional manner, utilizing prudent project management and supervisory procedures, all in accordance with the high standards required by the Agreement; 
  
 (f) it has knowledge of all of the legal requirements and business practices that must be followed in performing the Work and the Work
will be in conformity with such requirements and practices and in compliance with all applicable Laws and applicable government approvals. All engineering services to be provided as part of the Work shall be provided by engineers qualified to
perform such services in the location where such services are performed. The Project can be constructed under current building codes, zoning, land use and other applicable Laws and government approvals affecting the development of the Site and the
performance of the Work and it can be constructed by Contractor for the Original Project Guaranteed Maximum Price and Expansion Original Project Guaranteed Maximum Price; 
  

 155 

 (g) it is financially solvent, able to pay its debts as they mature, and possesses
sufficient working capital to complete its obligations under the Agreement. It is able to furnish the plant, tools, materials, supplies, equipment, labor and design services needed for the Work, is experienced in and competent to perform the Work,
both construction and design, contemplated by this Agreement, and is qualified to do the Work; 
  
 (h) it owns or has the right to use all the patents, trademarks, service marks, tradenames, copyrights, licenses, franchises, permits or
rights with respect to the foregoing necessary to perform the Work and to carry on its business as presently conducted and presently planned to be conducted without conflict with the rights of others. In addition, it holds, or the Work shall be
performed under the general supervision of an individual holding, any and all consents, licenses, permits and other authorizations, both construction and design, permits or special licenses required by law to perform the services under the
Agreement; and 
  
 (i) there is no action, suit
or proceeding, at law or in equity, or official investigation before or by any government authority, arbitral tribunal or other body pending or, to the best of its knowledge, threatened against or affecting it or any of its properties, rights or
assets, which could reasonably be expected to result in a material adverse effect on its ability to perform its obligations under the Agreement or on the validity or enforceability of the Agreement. 
  
 26.1.2 Contractor’s Covenants. Each of Leighton,
China/HK and China/Macau jointly and severally represents, warrants and covenants to Owner that: 
  
 (a) all equipment and materials incorporated in the Project shall be free and clear of all liens and shall be new; 
  
 (b) the design and engineering of the Project shall be
performed in accordance with the Contract Documents and the best practices, methods and standards followed by contractors constructing “five-star” first class Las Vegas-style luxury resorts and casinos, i.e., employing the highest
standards with respect to the design, construction, operation and maintenance of facilities and equipment of the type to be incorporated into the Work, and which practices, methods and standards shall conform to the recommendations of the equipment
suppliers and manufacturers; 
  
 (c) the Work
will be performed in accordance with the Contract Documents and the best practices, methods and standards followed by contractors constructing “five-star” first class Las Vegas-style luxury resorts and casinos, i.e., employing the
highest standards with respect to the design, 

  

 156 

 
construction, operation and maintenance of facilities and equipment of the type to be incorporated into the Work, and in a good and workmanlike manner and it
shall be free from defects; 
  
 (d) the Project
shall be designed and constructed to conform and perform to the specifications, drawings, and other descriptions contained in the Contract Documents, including, but not limited to, the Original Project Guaranteed Maximum Price Premises and
Assumptions and Expansion Project Guaranteed Maximum Price Premises and Assumptions; 
  
 (e) the Project shall be designed and constructed to comply with all applicable Laws; 
  
 (f) installation of any and all material, supplies and
equipment shall be in strict accordance with manufacturers’ requirements; and 
  
 (g) it has not, and shall not in the future, and to the best of the knowledge of Contractor, the Subcontractors and Vendors have not, and
Contractor shall procure that each Subcontractor and Vendor will not, take any action, directly or indirectly, in connection with the preparation, negotiation, submission, procurement, execution or performance of any agreement, instrument or other
document in any way relating to the Project or the Work that would constitute a violation of any laws of Macau or the United States of America (including the United States Foreign Corrupt Practices Act of 1977, as amended) regarding business
practices, bribery or corruption. Contractor shall indemnify, protect, defend and hold Owner and the Owner Indemnitees harmless from and against any and all Actions attributable to any breach of the terms and provisions of this
Section 26.1.2(g) by Contractor. The provisions of this Section 26.1.2(g) shall survive the termination of this Agreement for whatever reason. 
  
 26.2 Owner’s Representations and Warranties. Owner represents and warrants to Contractor that: 
  
 26.2.1 Owner is a company duly organized, validly
existing and is current on all payments to maintain such existence under the laws of Macau. Owner has all necessary power and authority to carry on its business as presently conducted, to own or hold under lease its properties and to enter into and
perform its obligations under the agreements to which it is or is to be a party. Owner is duly qualified or licensed to do business in all jurisdictions wherein the nature of its business and operations or the character of the properties owned or
leased by it makes such qualification or licensing necessary and where the failure to be so qualified or licensed would impair its ability to perform its obligations under the Agreement or would result in a material liability to or would have a
material adverse effect on its financial condition, business, operations or prospects; 
  

 157 

 26.2.2 Owner has all necessary power and authority to execute, deliver and perform
its obligations under the Agreement, and each of the execution, delivery and performance by Owner of the Agreement has been duly authorized by all necessary action on the part of Owner, does not require any approval, except as has been heretofore
obtained, of Owner’s governing body or any consent of or approval from any trustee, lessor or holder of any indebtedness or other obligation of Owner, except for such as have been duly obtained, and does not contravene or constitute a default
under its organizational documents or, to the best knowledge of Owner, any provision of applicable Law or any agreement, judgment, injunction, order, decree or other instrument binding upon Owner, or subject the Work, the Project or any component
part thereof or the Site or any portion thereof to any Lien other than as contemplated or permitted by the Agreement; and Owner is in compliance with all applicable Laws and government approvals (i) which govern its ability to perform its
obligations under the Agreement or (ii) the noncompliance with which would have a material adverse effect on its ability to perform its obligations under the Agreement; 
  
 26.2.3 Neither the execution and delivery by Owner of the Agreement, nor the consummation by Owner of
any of the transactions contemplated hereby, requires, with respect to Owner, the consent or approval of, the giving of notice to, the registration with, the recording or filing of any document with, or the taking of any other action in respect of
any government authority, except such as are not yet required (as to which Owner has no reason to believe that the same will not be readily obtainable in the ordinary course of business upon due application therefore) or which have been duly
obtained and are in full force and effect; 
  
 26.2.4 Owner has duly and validly executed and delivered the Agreement and the Agreement constitutes a legal, valid and binding obligation of Owner enforceable against it in accordance with its terms; and 
  
 26.2.5 There is no action, suit or proceeding, at law
or in equity, or official investigation before or by any government authority, arbitral tribunal or other body pending or, to the best knowledge of Owner, threatened against or affecting Owner or any of its properties, rights or assets, which could
reasonably be expected to result in a material adverse effect on Owner ‘s ability to perform its obligations under the Agreement or on the validity or enforceability of the Agreement. 
  
 ARTICLE XXVII. 
 CONTRACTOR’S BUSINESS PRACTICES 
  
 27.1 Business Practices. Each of Leighton, China/HK and China/Macau represents, warrants and covenants to Owner as follows: 
  
 27.1.1 it has not taken and shall not take, and its
parent companies, subsidiaries and affiliates and each of its and their respective officers, directors, employees, agents, representatives, owners and shareholders (collectively, the “Related Entities”) have 

  

 158 

 
not taken, and it shall cause its Related Entities not to take, any action, directly or indirectly, in connection with the preparation, negotiation,
submission, procurement, execution or performance of any agreement, instrument or other document in any way relating to the Project or the Work that would constitute a violation of any applicable Laws of Macau or the United States of America
(including the United States Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”)) regarding business practices, bribery or corruption; 
  
 27.1.2 it has complied and shall comply with, and its Related Entities have complied and it shall
cause its Related Entities to comply with, any law or regulation under the applicable Laws of Macau or the United States that is or may be applicable to it (or any of its Related Entities) in the conduct of its business (or the business of any of
its Related Entities) relating to the Project or the Work; 
  
 27.1.3 mindful of the principles of the FCPA, it has not made, authorized or done anything in furtherance of, and shall not make, authorize or do anything in furtherance of, and its Related Entities have not
made, authorized or done anything in furtherance of, and it shall cause its Related Entities not to make, authorize or do anything in furtherance of, any payment, loan, gift of money or anything of value, or promise or offer thereof, directly or
indirectly, to or for the use or benefit of: 
  
 (a) any official or employee of Macau or any other government, or of any political subdivision, agency or instrumentality of any such governments, or to any political party or candidate or official thereof (each an
“Official”); or 
  
 (b) any
other person or entity if it knows or has reason to suspect that any part of such payment, loan, gift or thing of value will be directly or indirectly given or paid by such other person or entity for the purpose of (i) influencing an act or
decision of an Official in his official capacity, (ii) inducing an Official to do or omit to do an act in violation of the lawful duty of such Official or (iii) inducing an Official to use his influence with that government to affect or
influence any act or decision; 
  
 27.1.4
it has not taken and shall not take, and its Related Entities have not taken and it shall cause its Related Entities not to take, any action in relation to the Project that would subject it (or its Related Entities) to liability or penalty under any
and all applicable Laws, and it shall not take, and shall cause its Related Entities not to take, any action that would subject Owner or Contractor (or their respective Related Entities) to liability or penalty under any and all applicable Laws
relating to the issuance of privileged business licenses or that would result in the revocation of any privileged business license held by Owner (or its Related Entities); 
  
 27.1.5 it has ensured and shall ensure, and its Related Entities have ensured and it shall cause its
Related Entities to ensure, that all invoices, financial settlements, 

  

 159 

 
reports and billings in respect of the Work reflect properly the facts about all activities and transactions the subject thereof; and 
  
 27.1.6 it has notified and shall notify Owner
promptly upon the discovery of any non-compliance with the foregoing. 
  
 Contractor agrees to indemnify Owner from and against all Actions that arise as a result of Contractor’s breach of the foregoing provisions. 
  
 ARTICLE XXVIII. 
 GENERAL PROPRIETY

  
 28.1 Alcoholic Beverages and Drugs. The Contractor
shall not, otherwise than in accordance with applicable Laws then in effect, import, sell, give, barter or otherwise dispose of any alcoholic liquor, or drugs, or permit to suffer any such importation, sale, gift, barter, or disposal by its agents ,
employees, Subcontractors or Vendors. 
  
 28.2 Arms and
Ammunition. The Contractor shall not import, sell, give, barter or otherwise dispose of to any person or persons, any arms or ammunition of any kind or suffer any such importation, sale, gift, barter, or disposal by its agents, employees,
Subcontractors or Vendors. 
  
 28.3 Riotous and Disorderly
Conduct. The Contractor shall at all times take all reasonable precautions to prevent any unlawful, riotous or disorderly conduct by or among its employees, Subcontractors and Vendors and for the preservation of peace and protection of persons
and property in the neighborhood of the Site. 
  
 28.4
Epidemics. In the event of any outbreak of illness of a epidemic nature, the Contractor shall comply with and carry out such regulations, orders and requirements as may be made by the Government of Macau or the People’s Republic of China,
or the local medical or sanitary authorities for the purpose of dealing with and overcoming the same. 
  
 [NO FURTHER TEXT ON THIS PAGE] 
  

 160 

 IN WITNESS whereof this Agreement has been duly executed and delivered as a deed the day and year first above
written. 
  

					
	EXECUTED as a Deed on behalf of	 	 )
	 	/s/ Stephen Wynn
	 WYNN RESORTS (MACAU) S.A., a
	 	 )
	 	 
	 company incorporated in the Macau
	 	 )
	 	 
	 Special Administrative Region, by
	 	 )
	 	 
	 Stephen A. Wynn, being a person who,
	 	 )
	 	 
	 in accordance with the laws of that
	 	 )
	 	 
	 territory, is acting under the authority of
	 	 )
	 	 
	 the company in the presence of:
	 	 )
	 	 
	Kim Sinatra	 	 	 	 
	 Signature and name of witness
	 	 	 	 

  

 161 

							
	 SIGNED, SEALED and DELIVERED by Mr Joe
	 	 )
	 	/s/ Joe Dujmovic
	 Dujmovic as attorney for LEIGHTON
	 	 )
	 	By executing this deed the attorney states that the attorney has received no notice of revocation of the power of attorney
	 CONTRACTORS (ASIA) LIMITED under power
	 	 )
	 
	 of attorney dated 18 August 2005, in the presence of:
	 	 )
	 
	/s/ Esther Palmer	 	 )
	 	 
	 Name of Witness: Esther Palmer
	 	 	 	 
	 Occupation of Witness: Legal Assistant
	 	 	 	 
	 Address of Witness:
	 	 	 	 
	 Mallesons Stephen Jaques
 37th Floor, Two International Finance Centre
 8 Finance Street, Central, Hong Kong
	 	 	 	 

  

 162 

											
	  	 	 )
	 	/s/ Zhao Yong
	THE COMMON SEAL of CHINA STATE	 	 )
	 	 
	CONSTRUCTION ENGINEERING (HONG	 	 )
	 	 
	KONG) LIMITED was hereunto affixed in the	 	 )
	 	 
	 presence of:
	 	 )
	 	 
	 	 	 	 	 	 	 )
	 	 	 	 
	 	 	 	 	 	 	 )
	 	 	 	 
	 Name: Zhou Yong
	 	 	 	 	 	 
	   Director
	 	 )
	 	 	 	 

  

 163 

							
	 	 	 	 	)	 	/s/ Jianping Xu
	EXECUTED by Mr. Xu, Jianping	 	)	 	By executing this deed the attorney
	in his capacity as auxiliar of, and with authority to	 	)	 	warrants that the signatory is duly
	bind, CHINA CONSTRUCTION	 	)	 	authorized to execute this deed on
	ENGINEERING (MACAU) COMPANY	 	)	 	behalf of CHINA CONSTRUCTION
	LIMITED, a limited company incorporated in the	 	)	 	ENGINEERING (MACAU)
	Macau Special Administrative Region,	 	)	 	COMPANY LIMITED
	pursuant to a resolution by the General	 	)	 	  
	Shareholders Meeting dated 6 September 2005	 	)	 	  
			
	in the presence of: /s/ Wang Hai	 	 	 	  
			
	Name of Witness: Wang Hai	 	 	 	  
	Occupation of Witness: Engineer	 	 	 	  
	 Address of Witness:
 Rua do Campo, No.
78
 Edificio Comercial Zhang Kian
 19 andar
 Macau
	 	 	 	  

  

 164Amended and Restated Note Purchase Agreement

 Exhibit 10.6 
  

  
 WYNN RESORTS (MACAU) S.A.

  
 7.5% Subordinated Notes 
  
 Maximum Aggregate Amount – $122,000,000 
  

  
 AMENDED AND RESTATED NOTE PURCHASE AGREEMENT 
  

  
 Dated September 14, 2005 
  

 TABLE OF CONTENTS 
  

							
	Section

	  	Page

	1.	  	AUTHORIZATION OF NOTES	  	1
	2.	  	SALE AND PURCHASE OF NOTES	  	1
	3.	  	CLOSING	  	2
	4.	  	CONDITIONS TO CLOSING	  	2
	 	  	4.1.	  	 Representations and Warranties
	  	2
	 	  	4.2.	  	 Performance; No Default
	  	2
	 	  	4.3.	  	 Compliance Certificates
	  	2
	 	  	4.4.	  	 Purchase Not Prohibited By Applicable Law, etc.
	  	2
	 	  	4.5.	  	 Base Equity
	  	3
	 	  	4.6.	  	 Litigation
	  	3
	5.	  	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	3
	 	  	5.1.	  	 Organization; Power and Authority
	  	3
	 	  	5.2.	  	 Authorization, etc.
	  	3
	 	  	5.3.	  	 Enforceability
	  	3
	 	  	5.4.	  	 No Material Adverse Change
	  	3
	6.	  	REPRESENTATIONS OF THE PURCHASER	  	4
	 	  	6.1.	  	 Organization; Power and Authority
	  	4
	 	  	6.2.	  	 Authorization, etc.
	  	4
	 	  	6.3.	  	 Enforceability
	  	4
	7.	  	PREPAYMENT OF THE NOTES	  	4
	 	  	7.1.	  	 Mandatory Prepayments
	  	4
	 	  	7.2.	  	 Mandatory Disposition or Redemption Pursuant to Gaming Laws
	  	4
	 	  	7.3.	  	 Optional Prepayments
	  	5
	 	  	7.4.	  	 Maturity; Surrender, etc.
	  	5
	8.	  	COVENANTS OF THE COMPANY	  	5
	 	  	8.1.	  	 Senior Loan Facilities Covenants
	  	5
	 	  	8.2.	  	 Aggregate Principal Amount of Senior Indebtedness
	  	6
	9.	  	COVENANTS OF THE HOLDERS OF NOTES	  	6
	10.	  	EVENTS OF DEFAULT	  	6
	11.	  	REMEDIES ON DEFAULT, ETC.	  	6
	 	  	11.1.	  	 Deed of Appointment and Priority
	  	6
	12.	  	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES	  	7
	 	  	12.1.	  	 Registration of Notes
	  	7
	 	  	12.2.	  	 Transfer and Exchange of Notes
	  	7
	 	  	12.3.	  	 Replacement of Notes
	  	7
	13.	  	PAYMENTS ON NOTES	  	8
	 	  	13.1.	  	 Method and Place of Payment
	  	8
	14.	  	EXPENSES, ETC.	  	8
	 	  	14.1.	  	 Transaction Expenses
	  	8
	15.	  	ENTIRE AGREEMENT	  	8
	16.	  	AMENDMENT AND WAIVER	  	8
	 	  	16.1.	  	 Requirements
	  	8
	 	  	16.2.	  	 Binding Effect, etc.
	  	8
	17.	  	NOTICES	  	9
	18.	  	CONFIDENTIAL INFORMATION	  	9
	19.	  	CROSS ACCELERATION	  	9

  

 i 

							
	20.	 	MISCELLANEOUS	  	10
	 	 	20.1.	  	 Security
	  	10
	 	 	20.2.	  	 Subordination
	  	10
	 	 	20.3.	  	 Successors and Assigns
	  	10
	 	 	20.4.	  	 Payments Due on Non-Business Days
	  	10
	 	 	20.5.	  	 Severability
	  	10
	 	 	20.6.	  	 Construction
	  	10
	 	 	20.7.	  	 Counterparts
	  	10
	 	 	20.8.	  	 Governing Law, Jurisdiction
	  	11

  

					
	 SCHEDULE A
	  	—	  	 DEFINED TERMS

			
	 SCHEDULE B
	  	—	  	 PURCHASE FOR INVESTMENT

			
	 EXHIBIT 1
	  	—	  	 Form of 7.5% Subordinated Note

  

 ii 

 Wynn Resorts (Macau) S.A. 
 335-341 Alameda Dr. Carlos D’Assumpção 
 9th Floor, Hotline Center 
 Macau 
  
 7.5% Subordinated Notes 
  
 September 14, 2005 
  
 Wynn Group Asia, Inc.

 3131 Las Vegas Boulevard South 
 Las Vegas, Nevada 89109

 USA 
  
 Ladies and Gentlemen: 
  
 Wynn
Resorts (Macau) S.A., a company organized under the laws of the Macau Special Administrative Region of the People’s Republic of China (the “Company”), agrees with Wynn Group Asia, Inc., a Nevada corporation
(“you” or “Purchaser”) as follows: 
  
 The Company previously authorized the issuance and sale of at least $122,000,000 aggregate principal amount of its 7.5% Subordinated Notes pursuant to that certain Note Purchase Agreement between the Company and the Purchaser dated
September 14, 2004 (“Original NPA”). Under the Original NPA, the Company previously sold, and the Purchaser purchased, a note in the aggregate principal amount of $50,000,000 pursuant to a certain “7.5% Subordinated Note
Due 2012” dated August 24, 2005 (the “Previous Note”). 
  
 The Company and the Purchaser desire to amend and restate the Original NPA in order to modify certain provisions related to the sale and purchase of the Previous Note and the Notes (as defined herein). The Company and
the Purchaser agree that this Amended and Restated Note Purchase Agreement (this “Agreement”) supercedes and replaces the Original NPA in its entirety. 
  

	1.	AUTHORIZATION OF NOTES 

  
 The Company will authorize the issuance and sale of at least $80,000,000, and up to $122,000,000, aggregate principal amount of its 7.5% Subordinated
Notes (the “Notes”, such term to include the Previous Note and any notes issued in substitution for any notes issued pursuant to this Agreement). The principal amount of the Previous Note shall be included within the aggregate
amount of Notes issued and sold, or to be issued and sold, by the Company hereunder. The Notes shall be substantially in the form set out in Exhibit 1, with such changes therefrom, if any, as may be agreed to by you and the Company (and the Previous
Note shall be in the form so issued). Certain capitalized terms used in this Agreement are defined in Schedule A. References to a “Schedule” or an “Exhibit” are, unless otherwise specified, to a Schedule or an Exhibit to this
Agreement. 
  

	2.	SALE AND PURCHASE OF NOTES 

  
 Subject to the terms and conditions of this Agreement, the Company will issue and sell to you and you will purchase from the Company, at the Closing(s)
provided for in Section 3, 

  

 1 

 
Notes in at least $80,000,000, and up to $122,000,000, aggregate principal amount at the purchase price of 100% of the principal amount thereof. The Company
and the Purchaser hereby acknowledge and agree that the Previous Note constitutes part of the Notes issued and sold, or to be issued and sold, under this Agreement and is included within aggregate principal amount of Notes issued and sold, or to be
issued and sold by the Company and purchased by the Purchaser hereunder. 
  

	3.	CLOSING 

  
 The sale and purchase of the Notes shall occur at the offices of the Company, in such amounts, on such days and at such times as requested by the Company
in one or more written notices (each, a “Drawdown Notice”) delivered to you at least 5 days prior to the requested date, at one or more closings (each, a “Closing”), or in such other amount, at such other place, day
or time as may be agreed upon by the Company and you. Each Drawdown Notice shall request a draw of at least $5,000,000 and no more than $72,000,000. At each Closing the Company will deliver to you the Note to be purchased by you at such Closing in
the form of a single Note dated the date of such Closing and registered in your name, against delivery by you to the Company or its order of immediately available funds in the amount of the purchase price therefor by wire transfer for the account of
the Company to such account number as may be notified in writing by the Company. 
  

	4.	CONDITIONS TO CLOSING 

  
 Your obligation to purchase and pay for any additional Notes to be sold to you at the relevant Closing is subject to the fulfillment, prior to or at the
relevant Closing, of the following conditions: 
  

	4.1.	Representations and Warranties 

  
 The representations and warranties of the Company in this Agreement shall be true and correct in all material respects on the date of this Agreement and
at the time of the Closing (unless any such representation or warranty is expressly stated to be given as of a different date). 
  

	4.2.	Performance; No Default 

  
 The Company shall have performed and complied in all material respects with all agreements and conditions contained in this Agreement required to be
performed or complied with by it prior to or at the relevant Closing. There shall not have occurred and be continuing an Event of Default under this Agreement or the Senior Loan Facilities. 
  

	4.3.	Compliance Certificates 

  
 (a) Officer’s Certificate. The Company shall have delivered to you an Officer’s Certificate, dated the date of the Closing, certifying
that the conditions specified in Sections 4.1 and 4.2 have been fulfilled. 
  
 (b) Secretary’s Certificate. The Company shall have delivered to you a certificate certifying as to the resolutions attached thereto and other corporate proceedings relating to the authorization, execution
and delivery of the Notes and the Agreement. 
  

	4.4.	Purchase Not Prohibited By Applicable Law, etc. 

  
 On the date of the Closing your purchase of Notes shall (i) not be prohibited by the laws and regulations of the Macau Special Administrative Region
of the People’s Republic of China, the United States of America and the State of Nevada and (ii) not violate any applicable law or regulation that could reasonably be expected to restrain, prevent or otherwise impose materially adverse
conditions on the issuance of the Notes. 
  

 2 

	4.5.	Base Equity 

  
 Not less than $230,000,000 shall have been irrevocably and unconditionally contributed as “Base Equity” (as defined in the Common Terms
Agreement) to the Company. 
  

	4.6.	Litigation 

  
 There shall not be pending or, to our knowledge, threatened, any action, suit, investigation, litigation or proceeding in any court or before any
arbitrator or governmental instrumentality that would reasonably be expected to have a material adverse effect on the issuance of or performance of the Notes. 
  

	5.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

  
 The Company represents and warrants to you that: 
  

	5.1.	Organization; Power and Authority 

  
 The Company has been duly organized and is validly existing as a company under the laws of the Macau Special Administrative Region of the People’s
Republic of China, with power and authority to own or lease and operate its properties and conduct its business and to enter into and to perform its obligations under this Agreement and the Notes. 
  

	5.2.	Authorization, etc. 

  
 The execution and delivery of, and the performance by the Company of its obligations under, this Agreement and the Notes have been duly and validly
authorized by all necessary action on the part of the Company, and this Agreement has been, and each Note will be at the Closing, duly executed and delivered by the Company. 
  

	5.3.	Enforceability 

  
 Assuming due and valid authorization, execution and delivery thereof by you, this Agreement is, and when issued and delivered in accordance with the terms
of this Agreement, each Note will be, a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance and other similar laws of general application affecting enforcement of creditors’ rights generally and (ii) the availability of the remedy of specific performance or injunctive or other forms of equitable relief may be subject
to equitable defenses and would be subject to the discretion of the court before which any proceeding therefor may be brought. 
  

	5.4.	No Material Adverse Change 

  
 There is no action, suit, claim or proceeding pending or, to the knowledge of the Company, threatened (A) against the Company or (B) that has as
the subject thereof any officer or director of, or property owned or leased by or to, the Company, in each case, before any court or administrative agency or otherwise where, in any such case, there is both a reasonable possibility of such action,
suit or proceeding being determined adversely to the Company and where any such action, suit, claim or proceeding, if so determined adversely, would reasonably be expected to result in a Material Adverse Change, or prevent, adversely affect, hinder
or delay the consummation of the transactions contemplated by this Agreement or the performance by the Company of its obligations hereunder or under the Notes. 
  

 3 

	6.	REPRESENTATIONS OF THE PURCHASER 

  
 You represent and warrant to the Company that: 
  

	6.1.	Organization; Power and Authority 

  
 Purchaser has been duly organized and is validly existing as a corporation in good standing under the laws of its jurisdiction of organization, with power
and authority to enter into and to perform its obligations under this Agreement. 
  

	6.2.	Authorization, etc. 

  
 The execution and delivery of, and the performance by Purchaser of its obligations under, this Agreement have been duly and validly authorized by all
necessary action on its part, and Purchaser has duly executed and delivered this Agreement. 
  

	6.3.	Enforceability 

  
 Assuming due and valid authorization, execution and delivery thereof by the Company, this Agreement is a valid and binding obligation of Purchaser
enforceable against Purchaser in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and other similar laws of general application affecting enforcement of
creditors’ rights generally and (ii) the availability of the remedy of specific performance or injunctive or other forms of equitable relief may be subject to equitable defenses and would be subject to the discretion of the court before
which any proceeding therefor may be brought. 
  

	7.	PREPAYMENT OF THE NOTES 

  

	7.1.	Mandatory Prepayments 

  
 From and after the date on which all obligations under the Senior Loan Facilities have been discharged, the mandatory prepayment provisions of Schedule 9
of the Common Terms Agreement (or the prepayment provisions of any amended, supplemental, refinanced or replacement Senior Loan Facilities) shall apply mutatis mutandis to the Notes where the context permits such construction, and to the
extent the context does not permit such construction, such provisions shall apply as closely as possible under the circumstances. 
  

	7.2.	Mandatory Disposition or Redemption Pursuant to Gaming Laws 

  
 Notwithstanding any other provision hereof, if any Gaming Authority requires a holder or beneficial owner of Notes to be licensed, qualified or found
suitable under any applicable Gaming Law and the holder or beneficial owner (1) fails to apply for a license, qualification or finding of suitability within 30 days after being requested to do so (or such lesser period as required by the Gaming
Authority), or (2) is notified by a Gaming Authority that it shall not be licensed, qualified or found suitable, the Company shall have the right, at its option, to: 
  
 (a) require the holder or beneficial owner to dispose of its Notes within 30 days (or such lesser period as required by the
Gaming Authority) following the earlier of: 
  
 (1) the termination of the period described above for the holder or beneficial owner to apply for a license, qualification or finding of suitability; or 
  
 (2) the receipt of the notice from the Gaming Authority that the holder or beneficial owner shall not be
licensed, qualified or found suitable by the Gaming Authority; or 
  

 4 

 (b) redeem the Notes of the holder or beneficial owner at a redemption price equal to: 
  
 (1) the price determined by the Gaming Authority; or

  
 (2) if the Gaming Authority does not
determine a price, the lesser of: 
  
 (A) the
principal amount of the Notes; and 
  
 (B) the
price that the holder or beneficial owner paid for the Notes, 
  
 and in the case
of (A) or (B), together with accrued and unpaid interest on the Notes to the earlier of (1) the date of redemption or such earlier date as is required by the Gaming Authority or (2) the date of the finding of unsuitability by the
Gaming Authority, which may be less than 30 days following the notice of redemption. Immediately upon a determination by a Gaming Authority that a holder or beneficial owner of Notes shall not be licensed, qualified or found suitable, the holder or
beneficial owner shall not have any further rights with respect to the Notes to: 
  
 (i) exercise, directly or indirectly, through any Person, any right conferred by the Notes, this Agreement or the Deed of Appointment and Priority; or 
  
 (ii) receive any interest or any other distribution or payment with respect to the Notes, or any remuneration in any form
from the Company for services rendered or otherwise, except the redemption price of the Notes. 
  
 The Company is not required to pay or reimburse any holder or beneficial owner of Notes who is required to apply for such license, qualification or finding of suitability for the costs relating thereto. Those expenses
shall be the obligation of the holder or beneficial owner. 
  

	7.3.	Optional Prepayments 

  
 The Company may, at its option, upon notice as provided below, prepay at any time all, or from time to time any part of, the Notes at 100% of the
principal amount so prepaid, without premium. The Company will give you written notice of each optional prepayment under this Section 7.3 not less than 7 days and not more than 30 days prior to the date fixed for such prepayment. Each such
notice shall specify such date, the aggregate principal amount of the Notes to be prepaid on such date, and the interest to be paid on the prepayment date with respect to such principal amount being prepaid. 
  

	7.4.	Maturity; Surrender, etc. 

  
 In the case of each prepayment of Notes pursuant to this Section 7, the principal amount of each Note to be prepaid shall mature and become due and
payable on the date fixed for such prepayment, together with interest on such principal amount accrued to such date. From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the
interest, as aforesaid, interest on such principal amount shall cease to accrue. Any Note paid or prepaid in full shall be surrendered to the Company and cancelled. 
  

	8.	COVENANTS OF THE COMPANY 

  

	8.1.	Senior Loan Facilities Covenants 

  
 The covenants of Schedule 5 of the Common Terms Agreement (or the covenants of any amended, supplemented, refinanced or replacement Senior Loan
Facilities) shall apply mutatis mutandis to the Notes where the context permits such construction, and to the extent the context does not permit such construction, such provisions shall apply as closely as possible under the 

  

 5 

 
circumstances. Any and all waivers, consents or approvals made or given, or deemed given, by the holders of the Senior Indebtedness (or any agent or adviser
acting on their behalf) under the Senior Loan Facilities shall apply to the Notes with the same effect as if the waiver had been given by the holders of the Notes. 
  

	8.2.	Aggregate Principal Amount of Senior Indebtedness 

  
 Notwithstanding Section 8.1, the Company shall not amend, supplement, refinance or replace the Senior Loan Facilities such that the principal amount
of funded Senior Indebtedness outstanding at any time exceeds $1,200,000,000 (or if the Company incurs Financial Indebtedness (as defined in the Common Terms Agreement) permitted under paragraph 2(f) of Schedule 5, Part B of the Common Terms
Agreement, $1,200,000,000 plus an amount being 150% of the aggregate amount of such Financial Indebtedness incurred by the Company). 
  

	9.	COVENANTS OF THE HOLDERS OF NOTES 

  
 It is the express intention of the parties that the Company is entitled to have outstanding at any time up to $1,200,000,000 (or if the Company incurs
Financial Indebtedness (as defined in the Common Terms Agreement) permitted under paragraph 2(f) of Schedule 5, Part B of the Common Terms Agreement, $1,200,000,000 plus an amount being 150% of the aggregate amount of such Financial Indebtedness
incurred by the Company) aggregate principal amount of funded Senior Indebtedness. To this end, each holder of Notes shall cooperate with the Company in its incurrence of Senior Indebtedness by taking all actions requested by the Company to
facilitate such incurrence, including, without limitation, entering into intercreditor agreements that, taken as a whole, are not less favorable to the holders of Notes than the terms of the Deed of Appointment and Priority. 
  

	10.	EVENTS OF DEFAULT 

  
 The events of default in Schedule 10 of the Common Terms Agreement (or the events of default of any amended, supplemented, refinanced or replacement
Senior Loan Facilities) (each, an “Event of Default”) shall apply mutatis mutandis to the Notes where the context permits such construction, and to the extent the context does not permit such construction, such provisions
shall apply as closely as possible under the circumstances. Any and all waivers of a Default or an Event of Default given, or deemed given, by the holders of the Senior Indebtedness (or any agent or adviser acting on their behalf) under the Senior
Loan Facilities shall apply to the Notes with the same effect as if the waiver had been given by the holders of the Notes. 
  

	11.	REMEDIES ON DEFAULT, ETC. 

  

	11.1.	Deed of Appointment and Priority 

  
 No holder of Notes may exercise any rights or remedies or take any action in respect of the breach of any provision of this Agreement or the Notes or upon
the occurrence and continuation of an Event of Default except as provided in the Deed of Appointment and Priority (or the provisions of any amended, supplemented, refinanced or replacement agreement governing intercreditor arrangements). Any
proceeds from the exercise of remedies in accordance with the Deed of Appointment and Priority shall be applied in accordance with the terms of the Deed of Appointment and Priority (or the provisions of any amended, supplemented, refinanced or
replacement agreement governing intercreditor arrangements). 
  

 6 

	12.	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES 

  

	12.1.	Registration of Notes 

  
 The Company shall keep at its principal executive office a register for the registration (and registration of transfers) of Notes. The name and address of
each holder of Notes, and, subject to Section 12.2, each transfer thereof and the name and address of each transferee of one or more Notes shall be registered in such register. Prior to due presentment for registration of transfer, the Person
in whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof for all purposes hereof, and the Company shall not be affected by any notice or knowledge to the contrary. 
  

	12.2.	Transfer and Exchange of Notes 

  
 Except as provided in the Deed of Appointment and Priority or in Section 7.2 hereof, the rights of each holder of Notes under this Agreement and the
Notes may not be assigned or transferred without the consent of the holders of the Senior Indebtedness, such consent not to be unreasonably withheld. Except as provided in the Deed of Appointment and Priority, the rights of each holder of Notes
under this Agreement and the Notes may not be assigned or transferred without the prior written consent of the Company. Subject to compliance with applicable law, obtaining the requisite consents and to the execution of deeds of accession acceptable
to the holders of the Senior Indebtedness and the Company, upon surrender of any Note at the principal executive office of the Company for registration of transfer or exchange (and in the case of a surrender for registration of transfer, duly
endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of such Note or his attorney duly authorized in writing and accompanied by the address for notices of each transferee of such Note or part thereof),
the Company shall execute and deliver, at the Company’s expense (except as provided below), one or more new Notes (as requested by the holder thereof) in exchange therefor, in an aggregate principal amount equal to the unpaid principal amount
of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit 1. Each such new Note shall be dated and bear interest from the date to which interest shall
have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any
such transfer of Notes. Each Note may be transferred only in whole, and not in part. Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the representations set forth in
Schedule B as of the date of transfer and shall be deemed to have agreed to, and shall be subject to, all terms and provisions of this Agreement and the Notes. 
  

	12.3.	Replacement of Notes 

  
 Upon receipt by the Company of evidence reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note, and

  
 (a) in the case of loss, theft or destruction, of an indemnity
reasonably satisfactory to it, or 
  
 (b) in the case of
mutilation, upon surrender and cancellation thereof, 
  
 the Company at its own
expense shall execute and deliver, in lieu thereof, a new Note, dated and bearing interest from the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or
mutilated Note if no interest shall have been paid thereon. 
  

 7 

	13.	PAYMENTS ON NOTES 

  

	13.1.	Method and Place of Payment 

  
 The Company will pay, or arrange for payment of, all sums becoming due on such Note for principal and interest by wire transfer of immediately available
funds to an account specified in writing by the holder of such Note. Upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of any Note, you shall surrender such Note for cancellation,
promptly after any such request, to the Company at its principal executive office. Prior to any sale or other disposition of any Note held by you, you will surrender such Note to the Company in exchange for a new Note or Notes in accordance with
Section 12.2. 
  
 All payments made by the Company hereunder
shall be made irrespective of, and without any deduction for, any setoff, counterclaim or withholding. If any amount payable hereunder is required by applicable law to be withheld by the Company, then the Company shall pay such additional amount to
the Purchaser so that the net amount received by the Purchaser shall equal the payment due to the Purchaser without regard to the amount so withheld. 
  

	14.	EXPENSES, ETC. 

  

	14.1.	Transaction Expenses 

  
 All costs and expenses incurred by the Purchaser in connection with this Agreement and the consummation of the transactions contemplated hereby shall be
paid by the Purchaser, and all costs and expenses incurred by the Company in connection with this Agreement and the consummation of the transactions contemplated hereby shall be paid by the Company. 
  

	15.	ENTIRE AGREEMENT 

  
 This Agreement, the Notes and the Deed of Appointment and Priority, embody the entire agreement and understanding between you and the Company and
supersede all prior agreements and understandings relating to the subject matter hereof. 
  

	16.	AMENDMENT AND WAIVER 

  

	16.1.	Requirements 

  
 Except as otherwise provided in Sections 8 and 10, this Agreement and the Notes may be amended, and the observance of any term hereof or of the Notes may
be waived (either retroactively or prospectively), with (and only with) the written consent of the Company and the Required Holders, except that (a) no amendment or waiver of any of the provisions of Section 1, 2, 3 or 4 hereof will be
effective as to you unless consented to by you in writing, and (b) no such amendment or waiver may, without the written consent of the holder of each Note at the time outstanding affected thereby, (i) subject to the provisions of Sections
8 and 10, change the amount or time of any prepayment or payment of principal of, or reduce the rate or change the time of payment or method of computation of interest on the Notes, or (ii) change the percentage of the principal amount of the
Notes the holders of which are required to consent to any such amendment or waiver. 
  

	16.2.	Binding Effect, etc. 

  
 Any amendment or waiver consented to as provided in this Agreement applies equally to all holders of Notes and is binding upon them and upon each future
holder of any Note and upon the Company without regard to whether such Note has been marked to indicate such amendment or waiver. No course of dealing between the Company and the holder of any Note nor any delay in exercising any rights hereunder or
under any Note shall operate as a waiver of any rights of any 

  

 8 

 
holder of such Note. As used herein, the term “this Agreement” and references thereto shall mean this Agreement as it may from time to time
be amended or supplemented. 
  

	17.	NOTICES 

  
 All notices and communications provided for hereunder shall be in writing and either hand delivered in person or sent (a) by facsimile if the sender
on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid), or (b) by registered or certified mail with return receipt requested (postage prepaid) or (c) by a recognized overnight
delivery service (with charges prepaid). Any such notice must be sent or hand delivered: 
  
 (i) if to you, at the address specified on the first page of this Agreement, or at such other address as you shall have specified to the
Company in writing, 
  
 (ii) if to any other
holder of any Note, to such holder at such address as such other holder shall have specified to the Company in writing, or 
  
 (iii) if to the Company, to the Company at its address set forth on the first page of this Agreement beginning hereof to the attention of
the General Counsel, or at such other address as the Company shall have specified to the holder of each Note in writing. 
  
 Notices under this Section 17 will be deemed given on the third Business Day after transmittal. 
  

	18.	CONFIDENTIAL INFORMATION 

  
 For the purposes of this Section 18, “Confidential Information” means information delivered to you or your representatives by or on
behalf of the Company in connection with the transactions contemplated by or otherwise pursuant to this Agreement that is proprietary in nature or confidential information of the Company or any Affiliate of the Company, provided, that
such term does not include information that (a) was publicly known prior to the time of such disclosure, or (b) subsequently becomes publicly known through no act or omission by you or any Person acting on your behalf. You will maintain
the confidentiality of such Confidential Information and not disclose it to any other Person; provided, that you may deliver or disclose Confidential Information to (i) your directors, officers, employees, agents, attorneys and
affiliates (to the extent such disclosure reasonably relates to the administration of the investment represented by your Notes), (ii) your financial advisors and other professional advisors who agree to hold confidential the Confidential
Information substantially in accordance with the terms of this Section 18, (iii) any other Person to which such delivery or disclosure may be necessary or appropriate (A) to effect compliance with any law, rule, regulation or order
applicable to you, (B) in response to any subpoena or other legal process, (C) in connection with any litigation to which you are a party, or (D) as may be provided for in the Deed of Appointment and Priority. 
  
 Notwithstanding anything to the contrary contained herein, you and each of
your representatives may disclose to any person, without limitation, the “tax treatment” and “tax structure” (in each case, within the meaning of U.S. Treasury Regulation Section 1.6011-4) of the transactions contemplated by
this Agreement and all materials of any kind (including opinions or other tax analysis) that are provided to you and your representatives relating to such tax treatment and tax structure 
  

	19.	CROSS ACCELERATION 

  
 If the maturity of the Senior Indebtedness is accelerated following the occurrence of an event of default thereunder, the maturity of the Notes shall be
accelerated to the maturity date of the Senior Indebtedness upon receipt by the Company of a written notice signed by the Required Holders stating 

  

 9 

 
their election to accelerate the maturity of the Notes. Any exercise of rights or remedies by the holders of the Notes shall be subject to the provisions of
Section 11. 
  

	20.	MISCELLANEOUS 

  

	20.1.	Security 

  
 The performance by the Company of its obligations under the Notes is secured as set forth in the Deed of Appointment and Priority. 
  

	20.2.	Subordination 

  
 The obligations of the Company under the Notes and this Agreement, and all security interests, liens and encumbrances granted to secure such obligations,
are subordinated as set forth in the Deed of Appointment and Priority. 
  

	20.3.	Successors and Assigns 

  
 All covenants and other agreements contained in this Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their
respective permitted successors and assigns. 
  

	20.4.	Payments Due on Non-Business Days 

  
 Anything in this Agreement or the Notes to the contrary notwithstanding, any payment of principal or interest on any Note that is due on a date other than
a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day. 
  

	20.5.	Severability 

  
 Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such
provision in any other jurisdiction. 
  

	20.6.	Construction 

  
 Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein,
so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein refers to action to be taken by any Person, or which such Person is
prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. 
  

	20.7.	Counterparts 

  
 This Agreement may be executed in any number of counterparts, each of which shall be an original but all of which together shall constitute one
instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. 
  

 10 

	20.8.	Governing Law, Jurisdiction 

  
 This Agreement and the Notes shall be governed by and construed in accordance with the internal laws of the State of New York including, without
limitation, Sections 5-1401 and 5-1402 of the New York general obligations law and Rule 327(b) of the New York Civil Practice Laws and Rules. The Company and Purchaser hereby irrevocably submit to the jurisdiction of any New York state court sitting
in the Borough of Manhattan in the City of New York or any federal court sitting in the Borough of Manhattan in the City of New York in respect of any suit, action or proceeding arising out of or relating to this Agreement or the Notes, and
irrevocably accepts for itself and in respect of its property, generally and unconditionally, jurisdiction of the aforesaid courts. The Company and Purchaser irrevocably waive, to the fullest extent they may effectively do so under applicable law,
any objection which they may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an
inconvenient forum. Each of the Company and the Purchaser hereby irrevocably appoints CT Corporation System as its authorized agent on which any and all legal process related to this Agreement or the Notes may be served in any such action, suit or
proceeding brought in any New York state court sitting in the Borough of Manhattan in the City of New York or any federal court sitting in the Borough of Manhattan in the City of New York. 
  
 *   *   *   *   *

  
 [Signatures Appear on Following Page]

  

 11 

 If you are in agreement with the foregoing, please sign the form of agreement on the accompanying
counterpart of this Agreement and return it to the Company, whereupon the foregoing shall become a binding agreement between you and the Company dated as of the first day written above. 
  

			
	 Very truly yours,

	
	 WYNN RESORTS (MACAU) S.A.

		
	 By:
	 	/s/    MATT
MADDOX        
	 Name:
	 	Matt Maddox
	 Title:
	 	CFO

  

			
	 ACKNOWLEDGED AND AGREED:

	
	 WYNN GROUP ASIA, INC.

		
	 By:
	 	/s/    MATT
MADDOX        
	 Name:
	 	Matt Maddox
	 Title:
	 	Attorney

  

 12 

 SCHEDULE A 
  

DEFINED TERMS 
  
 As used herein, the following terms have the respective meanings set forth below or set forth in the Section hereof following such term: 
  
 “Affiliate” means, at any time, and with respect to any
Person, (a) any other Person that at such time directly or indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, and (b) any Person beneficially owning or holding,
directly or indirectly, 10% or more of any class of voting or equity interests of the Company or any Subsidiary or any corporation of which the Company and its Subsidiaries beneficially own or hold, in the aggregate, directly or indirectly, 10% or
more of any class of voting or equity interests. As used in this definition, “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of voting securities, by contract or otherwise. Unless the context otherwise clearly requires, any reference to an “Affiliate” is a reference to an Affiliate of the Company. 
  
 “Agreement” is defined in the third paragraph of this
Agreement. 
  
 “Business Day” means any day other
than a Saturday, a Sunday or a day on which commercial banks in New York, New York or the Macau Special Administrative Region of the People’s Republic of China are required or authorized to be closed. 
  
 “Closing” is defined in Section 3. 
  
 “Common Terms Agreement” means the Common Terms Agreement,
as amended, dated as of September 14, 2004, by and among the Company, the holders of the Senior Indebtedness and the other parties thereto, relating to the financing of the Company’s proposed hotel-casino resort in Macau. 
  
 “Company” is defined in the first paragraph of this
Agreement. 
  
 “Confidential Information” is
defined in Section 18. 
  
 “Deed of Appointment and
Priority” means the Deed of Appointment and Priority, as amended, dated as of September 14, 2004, by and among the Company, the Purchaser and the other parties thereto. 
  
 “Event of Default” is defined in Section 10. 
  
 “Gaming Authority” means any agency, authority, board,
bureau, commission, department, office or instrumentality of any nature whatsoever of the United States federal government, any foreign government, any state, province or city or other political subdivision or otherwise, whether now or hereafter in
existence, including the Nevada Gaming Commission, the Nevada State Gaming Control Board, the Clark County Liquor and Gaming Licensing Board, and similar or analogous agency or authority in the Macau Special Administrative Region of the
People’s Republic of China, and any other applicable gaming regulatory authority or agency, in each case, with authority to regulate any gaming operation (or proposed gaming operation) owned, managed or operated by the Company or any of its
Affiliates. 
  

 13 

 “Gaming Law” means the gaming laws, rules, regulations or ordinances of any jurisdiction
or jurisdictions to which the Company or any of its Affiliates is, or may be at any time after the date hereof, subject. 
  
 “holder” means, with respect to any Note, the Person in whose name such Note is registered in the register maintained by the Company.

  
 “Material Adverse Change” means a material
adverse change in the business, properties, assets, operations or financial condition of the Company and its subsidiaries taken as a whole, whether or not occurring in the ordinary course of business. 
  
 “Notes” is defined in Section 1. 
  
 “Officer’s Certificate” means a certificate of the
President, General Manager, Chief Financial Officer, Treasurer or any Vice President of the Company. 
  
 “Original NPA” is defined in the second paragraph of this Agreement. 
  
 “Performance Bond Facility Agreement” means the bank reimbursement agreement dated September 14, 2004,
by and between the Company and Banco Nacional Ultramarino, S.A. 
  
 “Person” means an individual, partnership, corporation, limited liability company, association, trust, unincorporated organization, or a government or agency or political subdivision thereof. 
  
 “Previous Note” is defined in the second paragraph of this
Agreement. 
  
 “Purchaser” is defined in the
first paragraph of this Agreement. 
  
 “Required
Holders” means, at any time, the holders of in excess of 50% in principal amount of the Notes at the time outstanding. 
  
 “$” denotes the lawful currency of the United States of America. 
  
 “Securities Act” means the Securities Act of 1933, as amended. 
  
 “Senior Loan Facilities” means the credit facilities, loan
agreements, letters of credit or other agreements pursuant to which Senior Indebtedness is incurred, and initially includes the Senior Finance Documents (as defined in the Common Terms Agreement). 
  
 “Senior Indebtedness” means indebtedness designated by the
Company in an amount funded at any given time not in excess of $1,200,000,000 (or if the Company incurs Financial Indebtedness (as defined in the Common Terms Agreement) permitted under paragraph 2(f) of Schedule 5 Part B of the Common Terms
Agreement, $1,200,000,000 plus an amount being 150% of the aggregate amount of such Financial Indebtedness incurred by the Company) (exclusive of any indebtedness under the “Performance Bond Facility Agreement” (as defined in the Common
Terms Agreement)), which shall rank senior to the Notes in accordance with the Deed of Appointment and Priority. 
  

 14 

 SCHEDULE B 
  

PURCHASE FOR INVESTMENT 
  
 (To be made by a transferee Purchaser) 
  
 Purchaser is knowledgeable, sophisticated and experienced in business and financial matters; it has previously invested in securities similar to the Notes
and it acknowledges that the Notes are transferable only under limited circumstances; it is aware that its investment in the Notes is a speculative investment that has limited liquidity and is subject to the risk of complete loss; it is able to bear
the economic risk of its investment in the Notes and is able to afford the complete loss of such investment. Purchaser has been given a full opportunity to ask questions of, and to receive answers from, the Company and its representatives concerning
Purchaser’s investment in the Notes, the business of the Company, and such other information as Purchaser desires in order to evaluate an investment in the Notes, and all such questions have been answered to the full satisfaction of Purchaser.
Purchaser has been furnished with such information about the Company’s assets, operations, and business activities which Purchaser has requested and which Purchaser considers necessary or relevant to enable it to make a decision about its
investment in the Notes. Purchaser is an “accredited investor” as defined in Rule 501 promulgated pursuant to the Securities Act. Purchaser acknowledges that the Notes are restricted securities and may not be transferred without
registration under the Securities Act and applicable state securities or pursuant to an exemption therefrom. 
  

 15 

 EXHIBIT 1 
  
 FORM OF NOTE 
  
 THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR ANY FOREIGN OR STATE SECURITIES LAWS. NO SALE OR DISTRIBUTION OF THIS NOTE MAY BE EFFECTED OTHER THAN PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933 OR FOREIGN OR STATE SECURITIES LAWS. THIS NOTE IS SUBJECT TO RESTRICTIONS
ON TRANSFER SET FORTH IN THE NOTE PURCHASE AGREEMENT PURSUANT TO WHICH IT WAS ISSUED. 
  
 Wynn Resorts (Macau) S.A. 
  
 7.5%
SUBORDINATED NOTE DUE 
  

	$[            ]	

  
 [Date] 
  
 FOR VALUE RECEIVED, the undersigned, Wynn Resorts (Macau) S.A. (herein called the “Company”), a company organized under the laws of the Macau
Special Administrative Region of the People’s Republic of China, hereby promises to pay to Wynn Group Asia, Inc., or registered assigns, the principal sum of [            ] UNITED
STATES DOLLARS (US$[            ]) on the Maturity Date (as defined below), with interest (computed on the basis of a 360-day year of twelve 30-day months) on the unpaid balance thereof at
the rate of 7.5% per annum from the date hereof, payable semiannually, on the [            ] day of [            ]
and [            ] in each year, commencing with the [            ] or
[            ] next succeeding the date hereof, until the principal hereof shall have become due and payable; provided, that if the Company is prohibited from making any interest
payment(s) pursuant to the terms of the Senior Loan Facilities, the amount that otherwise would have been paid on such interest payment date(s) shall be paid on the next interest payment date, together with interest thereon from the date of the
initial missed interest payment date to the date of payment on which the Company is not prohibited from making such interest payment. “Maturity Date” means the later of (x) [insert date corresponding to the seventh anniversary of the
issuance of the first note issued pursuant to the Note Purchase Agreement] and (y) [insert date 6 months after initial scheduled maturity date of Senior Loan Facilities]; provided, that if any amounts are outstanding under the Performance Bond
Facility Agreement on what would otherwise be the maturity date, the maturity date shall be the date 30 days after payment of such outstanding amount. 
  
 Payments of principal of and interest with respect to this Note are to be made in lawful money of the United States of America at
[            ] or at such other place as provided in the Note Purchase Agreement referred to below. 
  

This Note was issued pursuant to an Amended and Restated Note Purchase Agreement, dated as of September
            , 2005 (as from time to time amended, the “Note Purchase Agreement”), between the Company and the Purchaser and is entitled to the benefits and is subject to
the obligations therein. Each transferee holder of this Note will be deemed, by its acceptance hereof, to have made the representations set forth in Schedule B to the Note Purchase Agreement as of the 

  

 16 

 
date of transfer, and each holder shall be deemed to have agreed to, and shall be subject to, all terms and provisions of the Note Purchase Agreement and the
Notes. 
  
 The Company will make required payments of principal as
specified in the Note Purchase Agreement. This Note is also subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement. 
  
 If the maturity of the Senior Loan Facilities is accelerated as a result of
the occurrence of an event of default thereunder, the maturity of the Notes shall be accelerated to the maturity date of the Senior Loan Facilities upon receipt by the Company of a written notice signed by the Required Holders stating their election
to accelerate the maturity of the Notes. 
  
 No holder of this
Note may exercise any rights or remedies or take any action in respect of the breach of any provision of the Note Purchase Agreement or this Note or upon the occurrence and continuation of an Event of Default except as provided in the Deed of
Appointment and Priority (or the provisions of any amended, supplemented, refinanced or replacement agreement governing intercreditor arrangements). Any proceeds from the exercise of remedies in accordance with the Deed of Appointment and Priority
shall be applied in accordance with the terms of the Deed of Appointment and Priority (or the provisions of any amended, supplemented, refinanced or replacement agreement governing intercreditor arrangements). 
  
 The obligations of the Company under this Note and the Note Purchase
Agreement, and all security interests, liens and encumbrances granted to secure such obligations, are subordinated as set forth in the Deed of Appointment and Priority. 
  
 This Note shall be governed by and construed in accordance with the internal laws of the State of New York including,
without limitation, Sections 5-1401 and 5-1402 of the New York general obligations law and Rule 327(b) of the New York Civil Practice Laws and Rules. By its acceptance hereof, the holder irrevocably submits to the jurisdiction of any New York state
court sitting in the Borough of Manhattan in the City of New York or any federal court sitting in the Borough of Manhattan in the City of New York in respect of any suit, action or proceeding arising out of or relating to the Note Purchase Agreement
or this Note, and irrevocably accepts for itself and in respect of its property, generally and unconditionally, jurisdiction of the aforesaid courts. By its acceptance hereof, the holder hereby irrevocably waives, to the fullest extent it may
effectively do so under applicable law, any objection which it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in
any such court has been brought in an inconvenient forum. 
  

 17 

 Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Note
Purchase Agreement. 
  

			
	 WYNN RESORTS (MACAU) S.A.

		
	 By:
	 	 
	 Name:
	 	 
	 Its:

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