Document:

<PAGE>
                                                                    Exhibit 4(g)

                               SIXTEENTH AMENDMENT
                                     TO THE
                              MANDALAY RESORT GROUP
                  EMPLOYEES' PROFIT SHARING AND INVESTMENT PLAN

     This Sixteenth Amendment to the Mandalay Resort Group Employees' Profit
Sharing and Investment Plan is made and entered into this 20th day of November,
2002, but is effective as of January 1, 2002, except as otherwise provided
herein, by Mandalay Resort Group (referred to hereinafter as the "Company").

                              W I T N E S S E T H:
                              - - - - - - - - - -

     WHEREAS, the Company and the other Employers have previously adopted the
Mandalay Resort Group Employees' Profit Sharing and Investment Plan, which has
been amended from time to time (as amended, the "Plan"); and

     WHEREAS, pursuant to the terms of the Plan, the Company is authorized and
empowered to further amend the Plan; and

     WHEREAS, the Company deems it advisable and in the best interests of the
Participants to amend the Plan to permit more frequent changes in designated
investments, to comply with recent changes in applicable law, and to make other
desired changes.

     NOW, THEREFORE, the Plan is hereby amended as follows:

                                       I.

     Effective as of December 4, 2002, paragraph (b) of Article X of the Plan is
hereby amended to read as follows:

          (b) Time and Manner of Designating Investments. The elections
     described in paragraph (a) shall be made in such manner and form as may be
     approved by the Plan Administrator from time to time, with the Participant
     designating the percentage of each of his Accounts which is subject to the
     provisions of paragraph (a) to be allocated to any Fund specified in
     paragraph (a)(1). Any such designation may be changed on any business day,
     and as frequently as the Participant shall elect; provided that the Plan
     Administrator shall establish uniform and non-discriminatory rules for
     determining the day and time as of which changes shall become effective. No
     more than 25% of a Participant's current contributions shall be invested in
     the Mandalay Stock Fund. The combined percentage of a Participant's
     Matching Contribution Account, Automatic Contribution Account,
     Discretionary

<PAGE>

     Contribution Account, Rollover Contribution Account and 401(k) Employer
     Contribution Account, together with any portion of his ESOP Matching
     Contribution Account and ESOP Automatic Contribution Account which is
     subject to a diversification election, which is invested in the Mandalay
     Stock Fund, shall not exceed 25% of the Participant's combined balances of
     such Accounts.

                                       II.

     Effective with respect to distributions made after December 31, 2002, a new
section (C) is added at the end of Article IX(a)(2), to read as follows:

          (C) Notwithstanding the foregoing, effective with respect to
     distributions made after December 31, 2002, if the value of the benefit
     distributable to a minor does not exceed $5,000, distribution may be made,
     at the direction of the Plan Administrator, to a parent of the minor, to a
     person who has legal custody of the minor, or to a relative of the minor
     whom the Plan Administrator reasonably believes to be managing the minor's
     financial affairs.

                                      III.

     The following clarifying sentence is added at the end of Article VI(j):

          Rollover contributions shall be permitted only from qualified
     retirement plans and from such other sources as the Plan Administrator
     shall consent to, in accordance with its uniform nondiscriminatory policy.

                                       IV.

     The Plan is amended to add a new Article XVI thereto, such Article XVI to
read as follows:

                                   ARTICLE XVI

                        Minimum Distribution Requirements

          This Article XVI is intended to comply with the requirements of
     Revenue Procedure 2002-29.

     (a) General Rules

          (1) Effective Date. The provisions of this Article shall apply for
     purposes of determining required minimum distributions for calendar years
     beginning with the 2003 calendar year.

                                       2

<PAGE>

          (2) Precedence. The requirements of this Article shall take precedence
     over any inconsistent provisions of the Plan.

          (3) Requirements of Treasury Regulations Incorporated. All
     distributions required under this Article shall be determined and made in
     accordance with the Treasury regulations under Section 401(a)(9) of the
     Code.

          (4) TEFRA Section 242(b)(2) Elections. Notwithstanding the other
     provisions of this Article, distributions may be made under a designation
     made before January 1, 1984, in accordance with Section 242(b)(2) of the
     Tax Equity and Fiscal Responsibility Act (TEFRA) and the provisions of the
     Plan that relate to Section 242(b)(2) of TEFRA.

     (b) Time and Manner of Distribution

          (1) Required Beginning Date. The Participant's entire interest shall
     be distributed to the Participant no later than the Participant's required
     beginning date.

          (2) Death of Participant Before Distributions Begin. If the
     Participant dies before distributions begin, the Participant's entire
     interest shall be distributed no later than December 31 of the calendar
     year containing the fifth anniversary of the Participant's death, subject,
     however, to the provisions of Article IX(a)(2) for beneficiaries who are
     legally incompetent, by age or otherwise.

          (3) Form of Distribution. All distributions shall be made in the form
     of a single sum on or before the required beginning date. No Participant's
     interest shall be distributed in the form of an annuity purchased from an
     insurance company.

          (4) Election by Beneficiaries. Any beneficiary who is entitled to a
     benefit under section subparagraph (2) may make an irrevocable election to
     receive the benefit at any time before the date distribution of such
     benefit is required to begin under subparagraph (2).

     (c) Definitions

          (1) Designated beneficiary. The individual who is designated as the
     beneficiary under Article VIII(d) of the Plan and is the designated
     beneficiary in accordance with Section 401(a)(9) of the Code and Section
     1.401(a)(9)-1, Q&A-4, of the Treasury regulations.

          (2) Distribution calendar year. A calendar year for which a minimum
     distribution is required. For distributions beginning before the
     Participant's death, the first distribution calendar year is the calendar
     year immediately preceding the calendar year which contains the
     Participant's required beginning date. For distributions beginning after
     the Participant's death, the first distribution calendar

                                        3

<PAGE>

     year is the calendar year in which distributions are required to begin
     under paragraph (b)(2) of this Article. The required minimum distribution
     for the Participant's first distribution calendar year will be made on or
     before the Participant's required beginning date. The required minimum
     distribution for other distribution calendar years, including the required
     minimum distribution for the distribution calendar year in which the
     Participant's required beginning date occurs, will be made on or before
     December 31 of that distribution calendar year.

          (3) Participant's account balance. The account balance as of the last
     valuation date in the calendar year immediately preceding the distribution
     calendar year (the "valuation calendar year"), adjusted as follows: (1) the
     account balance is increased by the amount of any contributions made and
     allocated or forfeitures allocated to the account balance as of dates in
     the valuation calendar year after the valuation date; and (2) the account
     balance is decreased by distributions made in the valuation calendar year
     after the valuation date. The account balance for the valuation calendar
     year includes any amounts rolled over or transferred to the plan either in
     the valuation calendar year or in the distribution calendar year if
     distributed or transferred in the valuation calendar year.

          (4) Required beginning date. The date specified in Article
     IX(a)(2)(A)(ii) of the Plan.

     IN WITNESS WHEREOF, this Sixteenth Amendment has been executed as of the
date first written above.

ATTEST:                              MANDALAY RESORT GROUP

         (CORPORATE SEAL)

   /s/ Yvette E. Landau              By:      /s/ Glenn W. Schaeffer
---------------------------------        ---------------------------------------
Secretary                                President

                                        4Employment Agreement dated May 3, 2002

  
 10.19 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement
(“Employment Agreement”) dated this 3rd day of May, 2002 but effective as of February 1, 2002 (the “Effective Date”) is made by and between J.D. EDWARDS & COMPANY, a Delaware corporation (“J.D. Edwards”) and Richard
G. Snow, Jr. (“Snow”). 
  
 RECITALS 
  
 
	 
	 A.
 	  	 J.D. Edwards is engaged in the business of providing business-to-business software and services to enable companies to engage in
collaborative commerce with their suppliers, customers and other business partners.
 
	 
	  	  	  
	 
	 B.
 	  	 Snow is currently employed by J.D. Edwards in the position of Vice President and J.D. Edwards wishes to retain Snow in the employment
of J.D. Edwards for a period of at least one (1) year from the Effective Date of this Employment Agreement.
 

 
  
 It is agreed between J.D. Edwards and Snow as follows: 
  

	1.
	 
	Employment.  J.D. Edwards hereby agrees to employ Snow to perform the duties and responsibilities set forth in the job description attached as
Attachment A to this Employment Agreement together with such other duties and responsibilities as shall be assigned to him from time to time by J.D. Edwards senior management which shall be consistent with Snow’s job description. Snow accepts
such employment with J.D. Edwards upon the terms and conditions of this Employment Agreement and agrees to perform the duties and responsibilities described in this Section in accordance with all policies, procedures, rules and regulations adopted
by J.D. Edwards Board of Directors or senior management. During the term of his employment, Snow agrees to devote his full time and attention, skills and efforts to the performance of his duties and responsibilities on behalf of J.D. Edwards and to
maintain and promote the business of J.D. Edwards. 
 

  

	2.
	 
	Term.  Subject to the terms of Section 6, Termination, Snow shall be employed by J.D. Edwards for a period of not less than one (1) year
commencing on the Effective Date (the “Initial Employment Term”). 
 

  

	3.
	 
	Compensation. 
 

  

	 	3.1.
	 
	Annual Base Salary and Bonus.  Snow’s compensation from February 1, 2002 until January 31, 2003 shall be set at an annual base salary of
$207,350 with an annual bonus target incentive of thirty percent (30%) of such base salary based upon the achievement of those certain objectives as determined and approved by the Compensation Committee of the Board of Directors of J.D. Edwards.
Snow shall be treated as any other executive with similar performance for purposes of salary increases established as a 
 

 
 Page 1 of 7 

 result of periodic compensation reviews. In the event of such compensation reviews before January 31, 2003, Snow’s
base salary shall be set at the new amount. Compensation for subsequent periods shall be established by a written addendum to this Employment Agreement as approved by the Compensation Committee of J.D. Edwards Board of Directors, but in no event
will be less than the annual base salary of $207,350. 
  

	4.
	 
	Employee Benefits.  Snow will be eligible to participate in all employee benefits provided by J.D. Edwards to employees, based upon his
position and tenure, including the following: 
 

  

	 	4.1.
	 
	Health and Life Insurance.  J.D. Edwards agrees to provide to Snow (and his spouse and dependents) coverage under J.D. Edwards group health and
life insurance plan, the coverage, terms and benefits of which shall be determined, from time to time, in the sole discretion of J.D. Edwards Board of Directors. 
 

  

	 	4.2.
	 
	Paid Time Off.  Snow shall be entitled to the maximum paid time off provided for in J.D. Edwards paid time off policy in effect from time to
time. 
 

  

	 	4.3.
	 
	Qualified/Non-Qualified Plan(s).  Snow shall be entitled to participate in any qualified or non-qualified plan(s) adopted by J.D. Edwards board
of Directors and Snow fulfills all eligibility requirements under the terms and conditions of such plan. The J.D. Edwards Board of Directors reserves the sole right and discretion to adopt or terminate a plan and to establish all eligibility
requirements and other terms and conditions of such plan. 
 

  

	5.
	 
	Severance Pay.  If Snow is terminated by J.D. Edwards, Snow shall be entitled to receive severance pay in the amount of one year’s then
current base salary. Snow’s entitlement to benefits under this Section 5, Severance Pay, are conditioned upon Snow and J.D. Edwards entering into a Separation Agreement substantially in the form attached as Attachment B. This severance payment
will be made to Snow within 15 business days after the execution of the Separation Agreement in a one-time, lump sum payment subject to appropriate tax withholding. Notwithstanding the foregoing, however, no severance allowance shall be paid if
termination is for Cause or if Snow voluntarily terminates employment within the Initial Employment Term. 
 

  

	 	5.1.
	 
	COBRA Medical Insurance.  If Snow’s employment is terminated without Cause, in addition to the severance payment in accordance with
Section 5, Snow and his dependents will be eligible for medical insurance (for himself and his spouse and dependent(s)) under COBRA. Commencing on the date of his termination for a period of one (1) year, J.D. Edwards will pay the COBRA premiums in
accordance with the standard J.D. Edwards policy in the same proportion as when Snow was an employee. Likewise, Snow will be responsible to pay the COBRA premiums at the same proportion that he paid for health care coverage when he was an employee,
Snow and his 
 

 
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 dependents will be eligible to continue coverage at his sole cost beyond such date if he should so elect as provided by
applicable law. 
  

	 	5.2.
	 
	Management Change in Control Plan.  The J.D. Edwards & Company Management Change in Control Plan Snow accepted on April 2, 1999 (the
“Plan”) will remain in full force and effect for the term of this Employment Agreement and will continue thereafter only so long as Snow remains an employee of J.D. Edwards. Therefore, the J.D. Edwards Board of Directors agrees that it
waives all rights under the Plan to remove Snow as a participant in the Plan, terminate the Plan with respect to Snow, amend or otherwise modify the Plan in any manner that would be detrimental to Snow or serve to reduce the Severance Benefits
payable to Snow under the Plan. 
 

  

	 	5.3.
	 
	Confidentiality and Non-Solicitation.  Snow acknowledges that he has signed the J.D. Edwards Employee Nondisclosure Agreement effective January
29, 1990 and confirms that he will continue to abide by the obligations contained therein. In addition, Snow agrees that upon termination from J.D. Edwards he will not solicit or otherwise approach any then customer(s) of J.D. Edwards for the
purpose of selling the products or services of Snow’s new employer for a period of two (2) years. 
 

  

	 	5.4.
	 
	Indemnification Agreement.  The parties executed the J.D. Edwards & Company Indemnification Agreement on the Effective Date attached as
Attachment C and incorporated herein to this Employment Agreement (the “Indemnification Agreement”). 
 

  

	 	5.5.
	 
	Non-Compete.  In consideration of the severance pay set forth in this Section 5, Snow agrees not to accept employment with any of the direct
competitors of J.D. Edwards listed on the list of Direct Competitors attached as Attachment D and incorporated herein to this Employment Agreement of J.D. Edwards for a period of one (1) year from the date of Snow’s termination of employment.
On an annual basis, Snow and J.D. Edwards will mutually agree to add or eliminate competitors listed on Attachment D. 
 

  

	6.
	 
	Termination.  J.D. Edwards shall have the right to terminate this Employment Agreement prior to its expiration only for “Cause” or
“Performance” as set forth below: 
 

  

	 	6.1.
	 
	Termination for Cause.   For the purposes of this Employment Agreement, “Cause” means the following: 
 

 

	 	6.1.1.
	 
	the willful and material breach of duty by Snow in the course of his employment; 
 

	 	6.1.2.
	 
	the habitual neglect by Snow of his employment duties; 
 

	 	6.1.3.
	 
	the disability of Snow, which is the continued incapacity, whether physical or mental, of Snow to perform his duties, unless waived by 

 
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 J.D. Edwards. In the event of a termination for disability, Snow will be eligible
for all J.D. Edwards disability benefits; or 

	 	6.1.4.
	 
	Snow’s gross misconduct resulting in material damage to J.D. Edwards. 
 

  

	6.2.
	 
	Termination for Performance.  For the purposes of this Employment Agreement, termination for “Performance” shall be as determined by
the J.D. Edwards Board of Directors in the good faith exercise of their business judgment. 
 

  

	6.3.
	 
	Dispute Resolution.  Should Snow dispute whether J.D. Edwards has been reasonable in interpreting “Cause” or “Performance,”
then in such event Snow may submit the matter to arbitration. The arbitration proceeding shall be conducted under the applicable rules of the American Arbitration Association and shall be located in Denver, Colorado. If such organization ceases to
exist, the arbitration shall be conducted by its successor, or by a similar arbitration organization, at the time a demand for arbitration is made. The decision of the arbitrator shall be final and binding on both parties. Each party shall be
responsible for its or his own expenses for the arbitrator’s fee, attorney’s fees, expert testimony, and for other expenses of presenting its or his case. Other arbitration costs, including fees for records or transcripts, shall be borne
equally by the parties. 
 

  

	6.4.
	 
	Compensation Earned Prior to Termination.  In the event that J.D. Edwards terminates Snow for Cause during the Initial Employment Term or any
renewal periods, Snow shall be entitled to the compensation earned prior to the date of termination as provided for in this Employment Agreement computed pro rata up to and including that date including any pro rata bonuses accrued or payable for
the fiscal year in which Snow is so terminated and all benefits set forth in Section 4 of this Agreement. Snow shall be entitled to no further compensation as of the date of termination. 
 

  

	6.5.
	 
	Renewal.  This Employment Agreement shall be deemed automatically renewed for successive one (1) year periods without any further act of J.D.
Edwards, unless, not later than thirty (30) days prior to the end of any period, either party provides the other with written notice of intent not to renew. 
 

  

	6.6.
	 
	Non-renewal.  Any non-renewal of this Employment Agreement shall be treated as a termination of Snow without Cause and be governed by the
provisions of this Employment Agreement applicable to terminations without Cause, including, but not limited to, the payments and benefits due to Snow under Sections 3, 4 and 5 of this Employment Agreement. Any non-renewal of this Employment
Agreement by Snow shall be treated as a voluntary termination and be governed by the provisions under Section 5 of this Employment Agreement. 
 

 
 Page 4 of 7 

  

	7.
	 
	Cooperation.  The parties hereto agree that, at all times during Snow’s employment, and following termination of his employment, each
party shall avoid making any remarks about the other party, which for J.D. Edwards shall include its affiliates, officers, directors, employees and agents that would tend to disparage or injure the reputation of the other party. 

  
 8.    Miscellaneous. 
  

	 	8.1.
	 
	Assignment.  Neither J.D. Edwards nor Snow may assign this Employment Agreement or any of their respective obligations hereunder. 

  

	 	8.2.
	 
	Notices.  Any notice or other communication provided for or required by this Employment Agreement shall be given within (i) three (3) business
days after mailing by registered or certified mail, postage prepaid, return receipt requested, (ii) one (1) business day after deposit with a recognized overnight courier (such as Federal Express) or (iii) upon delivery if sent by facsimile
transmission or in person in each case to the following address: 
 

  
 To J.D. Edwards:

  
 J.D. Edwards & Company 
 One Technology Way 
 Denver, Colorado 80237 
 Attn: Vice President, General Counsel 
  
 To Richard G. Snow, Jr.: 
  
 Richard G. Snow, Jr. 
 4505 S. Yosemite #141

 Denver, Colorado 80237 
  
 Or at such other address or addresses as J.D. Edwards or Snow may designate. 
  

	 	8.3.
	 
	Governing Law.  This Employment Agreement and each term thereof shall be subject to and governed by the laws of the State of Colorado.

 

  

	 	8.4.
	 
	Severability.  If any portion of this Employment Agreement shall be, for any reason, invalid or unenforceable, the remaining portion or
portions shall nevertheless be valid, enforceable and effective unless to do so would clearly violate the present legal and valid intention of the parties hereto. 
 

  

	 	8.5.
	 
	Entire Agreement.  This Employment Agreement constitutes the entire agreement between the parties and contains all of the agreements between
the parties with respect to the subject matter hereof. This Employment Agreement supersedes any and all other agreements, either oral or written, between the parties hereto with respect to the subject matter hereof. 
 

 
 Page 5 of 7 

  

	8.6.
	 
	Amendment.  No change or modification of this Employment Agreement shall be valid unless the same shall be in writing and signed by Snow and a
duly authorized officer of J. D. Edwards. No waiver of any provision of this Employment Agreement shall be valid unless in writing and signed by the party or parties to be charged. 
 

  

	8.7.
	 
	Benefit.  This Employment Agreement shall be binding upon and inure to the benefit of J.D. Edwards and Snow and their respective successors,
heirs, legal representatives and permitted assigns. This Employment Agreement is hereby executed as of the date set forth above. 
 

  
 This Employment Agreement must be executed by Richard G. Snow, Jr. and J. D. Edwards by April 30, 2002, or the agreement will become null and void and of no effect. 
  
 
	 J. D. EDWARDS & COMPANY
 	 	  	 	 Richard G. Snow Jr.
 
	 
	 By:
 	 	 /s/    Iain W.
Paterson                    
 
	 	  	 	 By:
 	 	         /s/    Richard G. Snow,
Jr.        
 

	  	 	 (Authorized Signature)
 	 	  	 	  	 	 Richard G. Snow, Jr.
 628164

	 
	 Iain W. Paterson
 
	 	  	 	  	 	  
	  	 	  	 	  	 	  
	 
	 	  	 	  	 	  

 
  

 
 Page 6 of 7 

 SCHEDULE OF ATTACHMENTS 
  
  

 
 ATTACHMENT A – JOB DESCRIPTION 
 ATTACHMENT B – SEPARATION AGREEMENT

 ATTACHMENT C – INDEMNIFICATION AGREEMENT 
 ATTACHMENT D – DIRECT COMPETITORS 

 
 Page 7 of 7 

  
 
	 Job Description
 	 	 Attachment A
 

 
  
 [LOGO]JD EDWARDS 
  
 Vice President General Counsel 
  
 
 
 Summary:    Direct worldwide legal activities of organization, with objective of protecting company’s interest. Provide advice
and counsel to managers concerning laws that impact their functional areas. Write and review contracts, file for patents and copyrights, file and respond to lawsuits, recommend/deal with outside counsel, etc. Serve as Secretary for the Board of
Directors. 
  

	FLSA  Status:
	 
	Exempt 
 

  

	Job  Level 
	 
	 Vice President 
 

  

	Job  Group 
	 
	Legal 
 

  

	Reports  to:
	 
	Chief Financial Officer 
 

  
 
 
 Duties and Responsibilities: 
  

	1.
	 
	Manage the legal activities, including one or several staff attorneys, of the company, with the objective of protecting the company’s interests and
providing assistance to managers concerning how laws and regulations impact their functional areas. 
 

  

	2.
	 
	Provide legal counsel and guidance to officers, directors, other managers, and the board of directors on corporate matters involving legal questions.

 

  

	3.
	 
	Prepare and review proposed contracts, leases, formal agreements and other legal instruments. 
 

  

	4.
	 
	Select and manage relations with outside counsel. 
 

  

	5.
	 
	Serve as Secretary for the Board of Directors. 
 

  

	6.
	 
	Other duties as assigned. 
 

  
 Educational and Experience Requirements: 
 JD degree, with emphasis on corporate law and regulations. Licensed to practice law. Minimum of 10+ years legal
experience, with 5+ years in corporate legal environment and 5+ years in management. 
  
 Completed by: Kate Waggoner 

Date: January 25, 2002 

 
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