Document:

SECURITIES
PURCHASE AGREEMENT

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of August 31, 2017, by and between Tauriga Sciences,
Inc., a Florida corporation, with headquarters located at 39 Old Ridgebury Road, Danbury, CT 06180 (the “Company”),
and GS CAPITAL PARTNERS, LLC, with its address at 110 Wall Street, Suite 5-070, New York, NY 10005 (the “Buyer”).

 

WHEREAS:

 

A.
The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”)
under the Securities Act of 1933, as amended (the “1933 Act”);

 

B.
Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement
two 8% convertible notes of the Company, in the forms attached hereto as Exhibit A and B in the aggregate principal amount of
$96,000.00 (with the first note being in the amount of $48,000 and the second note being in the amount of $48,000.00 (together
with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the
terms thereof, the “Note”), convertible into shares of common stock, of the Company (the “Common Stock”),
upon the terms and subject to the limitations and conditions set forth in such Note. The first of the two notes (the “First
Note”) shall be paid for by the Buyer as set forth herein. The second note (the “Second Note”) shall initially
be paid for by the issuance of an offsetting $48,000.00 secured note issued to the Company by the Buyer (“Buyer Note”),
provided that prior to conversion of the Second Note, the Buyer must have paid off the Buyer Note in cash such that the Second
Note may not be converted until it has been paid for in cash.

 

C.
The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set
forth immediately below its name on the signature pages hereto; and

 

NOW
THEREFORE, the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

1.
Purchase and Sale of Note.

 

a.
Purchase of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees
to purchase from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature
pages hereto.

_____

Company
Initials

 

    	 	 	 

    	 

    

 

b.
Form of Payment. On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Note to be
issued and sold to it at the Closing (as defined below) (the “Purchase Price”) by wire transfer of immediately available
funds to the Company, in accordance with the Company’s written wiring instructions, against delivery of the Note in the
principal amount equal to the Purchase Price as is set forth immediately below the Buyer’s name on the signature pages hereto,
and (ii) the Company shall deliver such duly executed Note on behalf of the Company, to the Buyer, against delivery of such Purchase
Price.

 

c.
Closing Date. The date and time of the first issuance and sale of the Note pursuant to this Agreement (the “Closing
Date”) shall be on or about August 31, 2017, or such other mutually agreed upon time. The closing of the transactions contemplated
by this Agreement (the “Closing”) shall occur on the Closing Date at such location as may be agreed to by the parties.
Subsequent Closings shall occur when the Buyer Note is repaid.

 

2.
Buyer’s Representations and Warranties.  The Buyer represents and warrants to the Company that:

 

a.
Investment Purpose. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon
conversion of or otherwise pursuant to the Note, such shares of Common Stock being collectively referred to herein as the “Conversion
Shares” and, collectively with the Note, the “Securities”) for its own account and not with a present view towards
the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the 1933 Act;
provided, however, that by making the representations herein, the Buyer does not agree to hold any of the Securities
for any minimum or other specific term and reserves the right to dispose of the Securities at any time in accordance with or pursuant
to a registration statement or an exemption under the 1933 Act.

 

b.
Accredited Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of
Regulation D (an “Accredited Investor”).

 

c.
Reliance on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying
upon the truth and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility
of the Buyer to acquire the Securities.

 

d.
Information. The Buyer and its advisors, if any, have been, and for so long as the Note remain outstanding will continue
to be, furnished with all materials relating to the business, finances and operations of the Company and materials relating to
the offer and sale of the Securities which have been requested by the Buyer or its advisors. The Buyer and its advisors, if any,
have been, and for so long as the Note remain outstanding will continue to be, afforded the opportunity to ask questions of the
Company. Notwithstanding the foregoing, the Company has not disclosed to the Buyer any material nonpublic information and will
not disclose such information unless such information is disclosed to the public prior to or promptly following such disclosure
to the Buyer. Neither such inquiries nor any other due diligence investigation conducted by Buyer or any of its advisors or representatives
shall modify, amend or affect Buyer’s right to rely on the Company’s representations and warranties contained in Section
3 below. The Buyer understands that its investment in the Securities involves a significant degree of risk. The Buyer is not aware
of any facts that may constitute a breach of any of the Company’s representations and warranties made herein.

 

    	 	 2	 

    	 

    

 

e.
Governmental Review. The Buyer understands that no United States federal or state agency or any other government or governmental
agency has passed upon or made any recommendation or endorsement of the Securities.

 

f.
Transfer or Re-sale. The Buyer understands that (i) the sale or re-sale of the Securities has not been and is not being
registered under the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless (a) the
Securities are sold pursuant to an effective registration statement under the 1933 Act, (b) the Buyer shall have delivered to
the Company, at the cost of the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions
of counsel in comparable transactions to the effect that the Securities to be sold or transferred may be sold or transferred pursuant
to an exemption from such registration, which opinion shall be accepted by the Company, (c) the Securities are sold or transferred
to an “affiliate” (as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”)
of the Buyer who agrees to sell or otherwise transfer the Securities only in accordance with this Section 2(f) and who is an Accredited
Investor, (d) the Securities are sold pursuant to Rule 144, or (e) the Securities are sold pursuant to Regulation S under the
1933 Act (or a successor rule) (“Regulation S”), and the Buyer shall have delivered to the Company, at the cost of
the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in corporate transactions,
which opinion shall be accepted by the Company; (ii) any sale of such Securities made in reliance on Rule 144 may be made only
in accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of such Securities under circumstances
in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined
in the 1933 Act) may require compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder;
and (iii) neither the Company nor any other person is under any obligation to register such Securities under the 1933 Act or any
state securities laws or to comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the
foregoing or anything else contained herein to the contrary, the Securities may be pledged as collateral in connection with a
bona fide margin account or other lending arrangement.

 

g.
Legends. The Buyer understands that the Note and, until such time as the Conversion Shares have been registered under the
1933 Act may be sold pursuant to Rule 144 or Regulation S without any restriction as to the number of securities as of a particular
date that can then be immediately sold, the Conversion Shares may bear a restrictive legend in substantially the following form
(and a stop-transfer order may be placed against transfer of the certificates for such Securities):

 

    	 	 3	 

    	 

    

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security
upon which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for
sale under an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation
S without any restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such
holder provides the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that a public sale or transfer of such Security may be made without registration under the 1933 Act,
which opinion shall be accepted by the Company so that the sale or transfer is effected. The Buyer agrees to sell all Securities,
including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus
delivery requirements, if any. In the event that the Company does not accept the opinion of counsel provided by the Buyer with
respect to the transfer of Securities pursuant to an exemption from registration, such as Rule 144 or Regulation S, within 2 business
days, it will be considered an Event of Default under the Note.

 

h.
Authorization; Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed
and delivered on behalf of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in
accordance with its terms.

 

i.
Residency. The Buyer is a resident of the jurisdiction set forth immediately below the Buyer’s name on the signature
pages hereto.

 

j.
No Short Sales. Buyer/Holder, its successors and assigns, agree that so long as the Note remains outstanding, the Buyer/Holder
shall not enter into or effect “short sales” of the Common Stock or hedging transaction which establishes a short
position with respect to the Common Stock of the Company. The Company acknowledges and agrees that upon delivery of a Conversion
Notice by the Buyer/Holder, the Buyer/Holder immediately owns the shares of Common Stock described in the Conversion Notice and
any sale of those shares issuable under such Conversion Notice would not be considered short sales.

 

    	 	 4	 

    	 

    

 

k.
  Trading Limitations. The Buyer, its successors and assigns agree to limit its sales of Common Stock of the
Company to an amount not to exceed 15% of the aggregate trading volume of the Common Stock of the Company in any trading day subject
to minimum sales of $1,500 per day.

 

3.
Representations and Warranties of the Company.  The Company represents and warrants to the Buyer that:

 

a.
Organization and Qualification. The Company and each of its subsidiaries, if any, is a corporation duly organized, validly
existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate
and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated
and conducted.

 

b.
Authorization; Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this
Agreement, the Note and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance
with the terms hereof and thereof, (ii) the execution and delivery of this Agreement, the Note by the Company and the consummation
by it of the transactions contemplated hereby and thereby (including without limitation, the issuance of the Note and the issuance
and reservation for issuance of the Conversion Shares issuable upon conversion or exercise thereof) have been duly authorized
by the Company’s Board of Directors and no further consent or authorization of the Company, its Board of Directors, or its
shareholders is required, (iii) this Agreement has been duly executed and delivered by the Company by its authorized representative,
and such authorized representative is the true and official representative with authority to sign this Agreement and the other
documents executed in connection herewith and bind the Company accordingly, and (iv) this Agreement constitutes, and upon execution
and delivery by the Company of the Note, each of such instruments will constitute, a legal, valid and binding obligation of the
Company enforceable against the Company in accordance with its terms.

 

c.
Issuance of Shares. The Conversion Shares are duly authorized and reserved for issuance and, upon conversion of the Note
in accordance with its respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens,
claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights
of shareholders of the Company and will not impose personal liability upon the holder thereof.

 

    	 	 5	 

    	 

    

 

d.
Acknowledgment of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock
upon the issuance of the Conversion Shares upon conversion of the Note. The Company further acknowledges that its obligation to
issue Conversion Shares upon conversion of the Note in accordance with this Agreement, the Note is absolute and unconditional
regardless of the dilutive effect that such issuance may have on the ownership interests of other shareholders of the Company.

 

e.
No Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation by
the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance and reservation for
issuance of the Conversion Shares) will not (i) conflict with or result in a violation of any provision of the Certificate of
Incorporation or By-laws, or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default
(or an event which with notice or lapse of time or both could become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of, any agreement, indenture, patent, patent license or instrument to which the Company
or any of its subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree
(including federal and state securities laws and regulations and regulations of any self-regulatory organizations to which the
Company or its securities are subject) applicable to the Company or any of its subsidiaries or by which any property or asset
of the Company or any of its subsidiaries is bound or affected (except for such conflicts, defaults, terminations, amendments,
accelerations, cancellations and violations as would not, individually or in the aggregate, have a material adverse effect). All
consents, authorizations, orders, filings and registrations which the Company is required to obtain pursuant to the preceding
sentence have been obtained or effected on or prior to the date hereof. The Company is not in violation of the listing requirements
of the OTC marketplace (the “OTC MARKETS”) and does not reasonably anticipate that the Common Stock will be delisted
by the OTC Markets in the foreseeable future, nor are the Company’s securities “chilled” by DTC. The Company
and its subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

f.
Absence of Litigation. Except as disclosed in the Company’s public filings, there is no action, suit, claim, proceeding,
inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending
or, to the knowledge of the Company or any of its subsidiaries, threatened against or affecting the Company or any of its subsidiaries,
or their officers or directors in their capacity as such, that could have a material adverse effect. Schedule 3(f) contains a
complete list and summary description of any pending or, to the knowledge of the Company, threatened proceeding against or affecting
the Company or any of its subsidiaries, without regard to whether it would have a material adverse effect. The Company and its
subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

g.
Acknowledgment Regarding Buyer’ Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting
solely in the capacity of arm’s length purchasers with respect to this Agreement and the transactions contemplated hereby.
The Company further acknowledges that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar
capacity) with respect to this Agreement and the transactions contemplated hereby and any statement made by the Buyer or any of
its respective representatives or agents in connection with this Agreement and the transactions contemplated hereby is not advice
or a recommendation and is merely incidental to the Buyer’ purchase of the Securities. The Company further represents to
the Buyer that the Company’s decision to enter into this Agreement has been based solely on the independent evaluation of
the Company and its representatives.

 

    	 	 6	 

    	 

    

 

h.
No Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has
directly or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances
that would require registration under the 1933 Act of the issuance of the Securities to the Buyer. The issuance of the Securities
to the Buyer will not be integrated with any other issuance of the Company’s securities (past, current or future) for purposes
of any shareholder approval provisions applicable to the Company or its securities.

 

i.
Title to Property. The Company and its subsidiaries have good and marketable title in fee simple to all real property and
good and marketable title to all personal property owned by them which is material to the business of the Company and its subsidiaries,
in each case free and clear of all liens, encumbrances and defects except such as are described in Schedule 3(i) or such as would
not have a material adverse effect. Any real property and facilities held under lease by the Company and its subsidiaries are
held by them under valid, subsisting and enforceable leases with such exceptions as would not have a material adverse effect.

 

j.
Bad Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act as amended
on the basis of being a “bad actor” as that term is established in the September 19, 2013 Small Entity Compliance
Guide published by the Securities and Exchange Commission.

 

k.
Breach of Representations and Warranties by the Company. If the Company breaches any of the representations or warranties
set forth in this Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will
be considered an Event of default under the Note.

 

4.
COVENANTS.

 

a.
Expenses. At the Closing, the Company shall reimburse Buyer for expenses incurred by them in connection with the negotiation,
preparation, execution, delivery and performance of this Agreement and the other agreements to be executed in connection herewith
(“Documents”), including, without limitation, reasonable attorneys’ and consultants’ fees and expenses,
transfer agent fees, fees for stock quotation services, fees relating to any amendments or modifications of the Documents or any
consents or waivers of provisions in the Documents, fees for the preparation of opinions of counsel, escrow fees, and costs of
restructuring the transactions contemplated by the Documents. When possible, the Company must pay these fees directly, otherwise
the Company must make immediate payment for reimbursement to the Buyer for all fees and expenses immediately upon written notice
by the Buyer or the submission of an invoice by the Buyer.

 

    	 	 7	 

    	 

    

 

b.
Listing. The Company shall promptly secure the listing of the Conversion Shares upon each national securities exchange
or automated quotation system, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance)
and, so long as the Buyer owns any of the Securities, shall maintain, so long as any other shares of Common Stock shall be so
listed, such listing of all Conversion Shares from time to time issuable upon conversion of the Note. The Company will obtain
and, so long as the Buyer owns any of the Securities, maintain the listing and trading of its Common Stock on the OTC MARKETS
or any equivalent replacement market, the Nasdaq stock market (“Nasdaq”), the New York Stock Exchange (“NYSE”),
or the American Stock Exchange (“AMEX”) and will comply in all respects with the Company’s reporting, filing
and other obligations under the bylaws or rules of the Financial Industry Regulatory Authority (“FINRA”) and such
exchanges, as applicable. The Company shall promptly provide to the Buyer copies of any notices it receives from the OTC MARKETS
and any other markets on which the Common Stock is then listed regarding the continued eligibility of the Common Stock for listing
on such markets.

 

c.
Corporate Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence
and shall not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or
sale of all or substantially all of the Company’s assets, where the surviving or successor entity in such transaction (i)
assumes the Company’s obligations hereunder and under the agreements and instruments entered into in connection herewith
and (ii) is a publicly traded corporation whose Common Stock is listed for trading on the OTC MARKETS, Nasdaq, NYSE or AMEX.

 

d.
No Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances
that would require registration of the Securities being offered or sold hereunder under the 1933 Act or cause the offering of
the Securities to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval
provision applicable to the Company or its securities.

 

e.
Restricted Shares. The Company shall issue 17,000,000 shares of restricted Common Stock to the Buyer as additional consideration
for the purchase of the Note.

 

f.
Breach of Covenants. If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other
remedies available to the Buyer pursuant to this Agreement, it will be considered an event of default under the Note.

 

5.
Governing Law; Miscellaneous.

 

a.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without
regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement shall be brought only in the state courts of New York or in the federal courts located in the state and county
of New York. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted
hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The
Company and Buyer waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s
fees and costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith is invalid
or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that
it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may
prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement.
Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding
in connection with this Agreement or any other Transaction Document by mailing a copy thereof via registered or certified mail
or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

    	 	 8	 

    	 

    

 

b.
Counterparts; Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall
be deemed an original but all of which shall constitute one and the same agreement and shall become effective when counterparts
have been signed by each party and delivered to the other party. This Agreement, once executed by a party, may be delivered to
the other party hereto by facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering
this Agreement.

 

c.
Headings. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the
interpretation of, this Agreement.

 

d.
Severability. In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute
or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any
law shall not affect the validity or enforceability of any other provision hereof.

 

e.
Entire Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of
the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither
the Company nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision
of this Agreement may be waived or amended other than by an instrument in writing signed by the majority in interest of the Buyer.

 

f.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
(iv) via electronic mail or (v) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such
other address as such party shall have specified most recently by written notice. Any notice or other communication required or
permitted to be given hereunder shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation
generated by the transmitting facsimile machine, at the address or number designated below (if delivered on a business day during
normal business hours where such notice is to be received) or delivery via electronic mail, or the first business day following
such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or
(b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed to such address,
or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

    	 	 9	 

    	 

    

 

If
to the Company, to:

Tauriga
Sciences, Inc.

39
Old Ridgebury Road

Danbury,
CT 06180

Attn:
Seth M. Shaw, CEO

 

If
to the Buyer:

GS
CAPITAL PARTNERS, LLC

110
Wall Street, Suite 5-070

New
York, NY 10005

Attn:
Gabe Sayegh

 

Each
party shall provide notice to the other party of any change in address.

 

g.
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and assigns. Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the
prior written consent of the other. Notwithstanding the foregoing, the Buyer may assign its rights hereunder to any person that
purchases Securities in a private transaction from the Buyer or to any of its “affiliates,” as that term is defined
under the 1934 Act, without the consent of the Company.

 

h.
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i.
Survival. The representations and warranties of the Company and the agreements and covenants set forth in this Agreement
shall survive the closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The
Company agrees to indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage
arising as a result of or related to any breach or alleged breach by the Company of any of its representations, warranties and
covenants set forth in this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses
as they are incurred.

 

    	 	 10	 

    	 

    

 

j.
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby.

 

k.
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

l.
Remedies. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Buyer by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the
remedy at law for a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or
threatened breach by the Company of the provisions of this Agreement, that the Buyer shall be entitled, in addition to all other
available remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining,
preventing or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity
of showing economic loss and without any bond or other security being required.

 

    	 	 11	 

    	 

    

 

IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above
written.

 

	Tauriga
    Sciences, Inc.	 
	 	 	 
	By:	/s/
    Seth Shaw	 
	Name:	Seth
    M. Shaw	
	Title:	CEO	
	 	 	 
	GS
    CAPITAL PARTNERS, LLC.	 
	 	 	 
	By:	/s/
    Gabe Sayegh	 
	Name:	Gabe
    Sayegh	 
	Title:	Manager	 

 

AGGREGATE
SUBSCRIPTION AMOUNT:

 

	Aggregate
    Principal Amount of Note:	$96,000.00
	 	 
	Aggregate
    Purchase Price:	 

 

Note
1: $48,000.00 less $2,400.00 in legal fees

 

Note
2: $48,000.00 less $2,400.00 in legal fees

 

    	 	 12	 

    	 

    

 

EXHIBIT
A

144
NOTE - $48,000.00

 

    	 	 13	 

    	 

    

 

EXHIBIT
A

BACK
END NOTE - $48,000.00

 

    	 	 14Exhibit

EXHIBIT 10.1

AMENDED & RESTATED EMPLOYMENT AGREEMENT
THIS AMENDED & RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) among Las Vegas Sands Corp., a Nevada corporation (“LVSC”), Las Vegas Sands, LLC (f/k/a Las Vegas Sands, Inc.), a Nevada limited liability company and wholly-owned subsidiary of LVSC (“LVSLLC” and together with LVSC, the “Company”) and Sheldon G. Adelson (“Executive”) is effective as of January 1, 2017 (the “Effective Date”).
WHEREAS, the Company and Executive are parties to an Employment Agreement dated as of November 18, 2004, as amended December 31, 2008 (the “Prior Agreement”);
WHEREAS, the Company desires to continue to employ Executive pursuant to the terms, provisions and conditions set forth in this Agreement, which shall supersede the Prior Agreement as of the Effective Date; and
WHEREAS, Executive desires to accept and continue his employment on the terms hereinafter set forth in this Agreement.
NOW, THEREFORE, in consideration of the premises and of the mutual covenants, understandings, representations, warranties, undertakings and promises hereinafter set forth, and intending to be legally bound thereby, the Company and Executive agree as follows:
1.Employment.  The Company shall employ Executive, during the Term (as defined below) and subject to the conditions set forth in this Agreement, to serve as Chief Executive Officer of the Company and in such other managerial or executive capacity as the Board of Directors of LVSC (the “Board”) may from time to time determine and, except as otherwise required by applicable law or regulation, as Chairman of the Board and of the board of directors of LVSLLC.  Executive shall only report to the Board, and all other employees and executives of the Company shall report to Executive or to a person who reports, directly or indirectly, to Executive.
2.    Duties.  Executive shall have such powers, duties and responsibilities as are generally associated with his office, as the same may be modified and/or assigned to Executive from time to time by the Board consistent with his office, including:
(a)    participation and involvement in the proposed development activities of the Company, including the planning, financing, construction and implementation stages, as shall be requested by the Board;
(b)    the efficient operation and maintenance of the hotel and casino properties of the Company;
(c)    the promotion, marketing and sale of the goods and services offered by the Company;
(d)    the preparation of budgets and allocation of funds;

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(e)    the establishment or continuation of adequate management reporting and control systems;
(f)    the recruitment, selection, training, delegation of duties and responsibilities, and supervision of subordinates; and
(g)    the direction, review and oversight of all programs, systems, departments and functions related to the management and administration of the Company.
3.    Performance.  Executive hereby accepts the employment described herein under the terms and conditions set forth in this Agreement.  Executive covenants and agrees faithfully and diligently to perform all of the duties of his employment, devoting his business and professional time, attention, energy and ability to promote the business interests of the Company; provided, however, that the foregoing shall not preclude Executive from engaging in civic, charitable, educational, or religious activities or from devoting a reasonable amount of time to private investments and/or family affairs that do not unreasonably interfere with the performance of Executive’s duties under this Agreement.
4.    Term.  The initial term of Executive’s employment hereunder shall commence as of the Effective Date and shall expire on the day prior to the fifth anniversary of the Effective Date (the “Initial Term”), unless sooner terminated as provided herein.  The term of Executive’s employment shall thereafter be automatically extended for successive one-year periods (each such period, a “Renewal Term”) unless, no later than sixty (60) days prior to the expiration of the Initial Term or any Renewal Term, Executive shall give written notice to the Company of his intention not to extend, in which event this Agreement, and Executive’s employment hereunder, shall terminate at the end of the Initial Term or Renewal Term, as applicable (the Initial Term plus any Renewal Term(s) shall collectively be referred to as the “Term”).
5.    Licensing Requirement.  Executive is presently licensed as a casino key employee (the “License”) by the Nevada Gaming Commission upon the recommendation of the state Gaming Control Board (collectively, the “Nevada Gaming Authorities”), pursuant to the provisions of applicable Nevada laws and regulations.  Executive agrees, at the Company’s sole cost and expense, to cooperate with the Nevada Gaming Authorities to maintain the License in full force and effect and in good standing during the Term.
6.    Compensation and Benefits.  As more fully provided in this Section 6, Executive shall be entitled to receive salary, benefits and other payments of regular compensation.  In addition, Executive shall be eligible to participate in LVSLLC’s Executive Cash Incentive Plan (or any applicable successor executive cash incentive plan, as in effect from time to time, the “Executive Cash Incentive Plan”) and LVSC’s 2004 Equity Award Plan (or any applicable successor equity incentive plan, as in effect from time to time, the “Equity Award Plan”), each as administered by the Compensation Committee of the Board (the “Committee”).
(a)    Base Salary.  During the Term, Executive shall receive a base salary of no less than $5,000,000 per year (as it may be increased from time to 

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time, the “Base Salary”).  Each year during the Term, the Committee shall review Executive’s Base Salary for potential increase; provided that the Base Salary may not be decreased.  The Base Salary shall be paid in accordance with the usual payroll practices of the Company, but in no event less frequently than semi-monthly.  Executive acknowledges and agrees that any retroactive Base Salary to be paid to Executive from the Effective  Date to the date that this Agreement was executed will be offset by any bonus payments already made to Executive under the Prior Agreement in 2017.
(b)    Annual Bonus.
(i)    During the Term, Executive shall be eligible to receive an annual cash bonus (the “Bonus”) under the Executive Cash Incentive Plan in respect of each fiscal year of the Company (a “Fiscal Year” which, as of the date hereof, is the period January 1 through December 31) commencing or ending during the Term.
(ii)    The Bonus shall be earned and payable annually based on the attainment of an EBITDA target (and/or such other or additional target(s) as may be mutually agreed by Executive and the Committee) established by the Committee for each such year following consultation with Executive and other senior management (such applicable target(s), the “EBITDA Target”).  The EBITDA Target for each Fiscal Year shall be established not later than 90 days following the commencement of such Fiscal Year.  Payments of Bonus that are earned, if any, shall be made as soon as practicable following the determination by the Committee that such amounts have been earned, and in any event within 60 days following the end of the relevant Fiscal Year.
(iii)    The maximum Bonus for each Fiscal Year during the Term shall be 250% of the Base Salary (the “Maximum Bonus”).  The Maximum Bonus for the applicable Fiscal Year shall be determined as follows:  if (A) less than eighty-five percent (85%) of the EBITDA Target is achieved in respect of a Fiscal Year, then the Bonus for such Fiscal Year shall be zero; (B) eighty-five (85%) of the EBITDA Target is achieved in respect of a Fiscal Year, then the Bonus for such Fiscal Year shall be 20% of the Maximum Bonus for such Fiscal Year; and (C) one hundred percent (100%) or greater of the EBITDA Target is achieved in respect of a Fiscal Year, then the Bonus for such Fiscal Year shall be the full Maximum Bonus for such Fiscal Year; provided, however, that amount of the Bonus shall be determined using straight line interpolation for performance between eighty-five percent (85%) of the EBITDA Target and one hundred percent (100%) of the EBITDA Target.
(c)    Equity Awards.  In the 2017 Fiscal Year, and in each Fiscal Year during the Term thereafter while Executive is employed by the Company, Executive shall be granted a nonqualified stock option to purchase shares of the 

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Company’s common stock, $0.001 par value per share (“Shares”), under the Equity Award Plan, at a per Share exercise price equal to the fair market value of a Share on the date of grant (the “Option Incentive Award”).  The Option Incentive Award for the 2017 Fiscal Year shall be granted as soon as practicable following the execution of this Agreement, and the Option Incentive Award for each subsequent Fiscal Year during the Term shall be granted following the first meeting of the Board during the Fiscal Year to which such Option Incentive Award relates (at the time when equity incentive award are granted to other employees of the Company, but in no event later than March 15 of such Fiscal Year).  The number of Shares subject to each Option Incentive Award shall be the number of Shares necessary to cause the Black-Scholes-Merton value of such Option Incentive Award to equal $1,000,000 on the date of grant, determined by using inputs consistent with those the Company uses for its financial reporting purposes.  Each Option Incentive Award shall vest with respect to thirty-three and one-third percent (33 1⁄3 %) of the options subject thereto on each of the first through third anniversaries of such Option Incentive Award’s date of grant.  Subject to Section 10, each Option Incentive Award shall have such termination, forfeiture and other terms as are applicable to stock option awards granted to other senior executives of the Company, as set forth in the Equity Award Plan and the applicable award agreement.
(d)    Employee Benefit Plans.  During the Term, Executive shall be entitled to participate in any fringe, group health, medical, dental, hospitalization, life, accident insurance or other welfare plans, and any tax-qualified pension, tax‐qualified profit sharing or tax-qualified retirement plans, which may be placed in effect or maintained by the Company during the Term for the benefit of its employees generally or for its senior executives, subject to all restrictions and limitations contained in such plans or established by governmental regulation.  In addition to the foregoing, Executive shall be entitled to participate in such executive retirement and capital accumulation plans as may be established, sponsored or maintained by the Company and in effect from time to time for the benefit of its senior executives, including any nonqualified supplemental executive retirement plan or deferred compensation plan.
(e)    Expense Reimbursement.  Executive is authorized to incur reasonable expenses consistent with his duties as Chief Executive Officer and Chairman of the Board and of the board of directors of LVSLLC in accordance with the policies of the Company established and in effect from time to time and, except as may be otherwise agreed, the Company will reimburse Executive for all such expenses upon submission of an itemized accounting and substantiation of such expenditures in accordance with the policies of the Company established and in effect from time to time.
(f)    Additional Reimbursement.  During the Term and subject to a maximum of $200,000 per Fiscal Year, Executive shall be entitled to reimbursement from the Company for (i) the fees and expenses incurred by Executive’s outside legal counsel and (ii) tax preparation and/or financial 

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planning expenses, and, except as may be otherwise agreed, the Company will reimburse Executive for such expenses upon submission of an itemized accounting and substantiation of such expenditures in accordance with the policies of the Company established and in effect from time to time.
(g)    Perquisites.
(i)    Vacations and Holidays.  Executive shall be entitled to vacations and holidays as provided in the Company’s applicable vacation and other paid time off policies, as in effect from time to time, but no less than the following:  four weeks of paid vacation leave per year at such times as may be requested by Executive and reasonably approved by the Company.
(ii)    Automobile.  During the Term, the Company shall reimburse Executive for the full cost (including all related and/or ancillary expenses) incurred by Executive with respect to Executive’s acquisition and use of an automobile and driver of his choice.
(iii)    Aircraft Usage.  The Company has obtained access to a business jet pursuant to a timesharing agreement with an entity controlled by Executive.  Subject to the availability of such aircraft to the Company under the timesharing agreement, the Company shall make such aircraft available to Executive for his and his companions’ travel.  When such aircraft is not available to the Company, the Company shall make available to Executive a Gulfstream large-cabin or larger aircraft for his and his companions’ travel.  Regardless of which aircraft the Company provides to Executive, the Company shall cause the aircraft to be provided with a level of staffing and amenities reasonably acceptable to Executive, including catering and communications capabilities.
(iv)    Security.  To ensure the personal safety of Executive and his spouse and his children, the Company shall, at its sole cost and expense, provide security services to such individuals during the Term of a nature commensurate with Executive’s position and on a basis reasonably acceptable to Executive; provided, however, that the Company may cease providing direct security services to any of Executive’s children who attain age twenty-two (22).
7.    Confidentiality & Non-Disparagement.
(a)    Executive agrees that he will hold in strictest confidence and, without prior approval of the Board, except in connection with the performance of his duties hereunder, will not disclose to any person, firm, corporation or other entity, any confidential information which he has acquired or may hereafter acquire during his employment by the Company pertaining to the business or affairs of the Company or any of its subsidiaries or affiliates, including 

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(i) proprietary information or other documents concerning the Company’s or its subsidiaries’ or affiliates’ policies, prices, systems, methods of operation, contractual arrangements, customers or suppliers; (ii) the Company’s or its subsidiaries’ or affiliates’ marketing methods, credit and collection techniques and files; or (iii) the Company’s or its subsidiaries’ or affiliates’ trade secrets and other “know how” or information concerning its business and affairs not of a public nature.  The covenant and agreement set forth in this Section 7(a) shall apply during Executive’s employment by the Company and shall survive termination of this Agreement, and Executive’s employment hereunder, for any reason and shall remain binding upon Executive without regard to the passage of time or other events; provided, however, that this Section 7(a) shall not apply to any information which:  (A) becomes generally available to the public other than as a result of disclosure by Executive in violation of this Agreement; (B) was or becomes available to Executive on a non-confidential basis prior to its disclosure to Executive by the Company from a source other than the Company, provided that such source is not to Executive’s knowledge bound by a confidentiality agreement with the Company; (C) was or is independently developed by Executive without the use of the Company’s materials; or (D) is shared by Executive with his personal, legal, financial or other advisors who are bound by a duty or agreement of confidentiality.
(b)    Nothing herein shall be construed to prevent disclosure of confidential or proprietary information as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation or order and, to the extent permitted by law or legal process, Executive first notifies the Company to facilitate the Company seeking a protective order.  Notwithstanding anything herein to the contrary, nothing in this Agreement shall (i) prohibit Executive from making reports of possible violations of federal law or regulation to any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, to the extent that such rules are applicable to the Company, or of any other whistleblower protection provisions of state or federal law or regulation which are applicable to the Company, or (ii) require notification or prior approval by the employer of any reporting described in clause (i)
(c)    At no time during or after the Term shall the Company or any of its subsidiaries, or any of their respective directors or executives, publicly make, release, utter or disseminate any false or disparaging statements regarding Executive, his work for the Company or its subsidiaries or affiliates, or his family or personal affairs, except solely to the extent that any such statement may be required by applicable law.

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8.    Restrictive Covenant.  Executive acknowledges and recognizes the highly competitive nature of the businesses of the Company and its subsidiaries and affiliates and accordingly agrees as follows:
(a)    During the Term and in the case of a termination of Executive’s employment with the Company for any reason other than due to Executive’s Retirement (as defined below), for a period of one (1) year from the date of termination, Executive shall not directly or indirectly, either as principal, agent, employee, consultant, partner, officer, director, shareholder, or in any other individual or representative capacity, own, manage, finance, operate, control or otherwise engage or participate in any manner or fashion in, any hotel or casino in (I) Clark County, Nevada (including the City of Las Vegas), (II) the Macau Special Administrative Region of The People’s Republic of China or (III) any other location in which the Company or any of its affiliates is doing business at the time of Executive’s termination (a “Competing Business”).  Notwithstanding anything to the contrary in this Agreement, Executive may, directly or indirectly, own, solely as an investment, securities of any person or entity which are publicly traded on a national or regional stock exchange or on the over-the-counter market if Executive is not a controlling person of, or a member of a group which controls, such person or entity.
(b)    In addition to, and not in limitation of, the provisions of Section 8(a), Executive agrees, for the benefit of the Company and its affiliates, that during the Term and for the period commencing on the date of Executive’s termination and ending on the first anniversary of such date of termination, Executive shall not, directly or indirectly, either as principal, agent, employee, consultant, partner, officer, director, shareholder, or in any other individual or representative capacity, on behalf of Executive or any other person or entity other than the Company or its affiliates, solicit or induce, or attempt to solicit or induce, directly or indirectly, any person who is, or during the six months prior to the termination of Executive’s employment with the Company was, an employee or agent of, or consultant to, the Company or any of its affiliates to terminate its, his or her relationship therewith for the purpose of engaging in a Competing Business.
(c)    Executive understands that the provisions of this Section 8 may limit his ability to earn a livelihood in a business similar to the business of the Company but he nevertheless agrees and hereby acknowledges that (i) such provisions do not impose a greater restraint than is necessary to protect the goodwill or other business interests of the Company, (ii) such provisions contain reasonable limitations as to time and scope of activity to be restrained, (iii) such provisions are not harmful to the general public, (iv) such provisions are not unduly burdensome to Executive, and (v) the consideration provided hereunder is sufficient to compensate Executive for the restrictions contained in this Section 8. In consideration of the foregoing and in light of Executive’s education, skills and abilities, Executive agrees that he shall not assert that, and it should not be considered that, any provisions of this Section 8 otherwise are void, voidable or 

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unenforceable or should be voided or held unenforceable.  Notwithstanding anything herein to the contrary, it shall not be a violation of this Section 8 for any business or entity with which Executive is affiliated or associated to engage in any activity prohibited by this Section 8, but only so long as Executive was not directly involved or engaging in the prohibited activity.
(d)    It is expressly understood and agreed that, although Executive and the Company consider the restrictions contained in this Section 8 to be reasonable, if a judicial determination is made by a court of competent jurisdiction that the time or territory or any other restriction contained in this Agreement is an unenforceable restriction against Executive, the provisions of this Agreement shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory and to such maximum extent as such court may judicially determine or indicate to be enforceable.  Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Agreement is unenforceable, and such restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions contained herein.
(e)    For purposes of this Agreement, “Retirement” shall mean a Voluntary Termination (as defined below) on or after the date on which Executive attains age 65.
9.    Disability.  If, during his employment with the Company, Executive shall, in the opinion of an independent physician selected by agreement between the Board and Executive, become so physically or mentally incapacitated that he is unable to perform the duties of his employment for a continuous period of six (6) consecutive full months (a “Disability”), then the Company shall have the right to terminate Executive’s employment hereunder in accordance with the provisions of Sections 10(a)(ii) and 10(d)(ii).
10.    Termination Events.
(a)    In General.  Notwithstanding the provisions of Section 4 of this Agreement, this Agreement and Executive’s employment hereunder shall terminate upon the occurrence of any of the following events:
(i)    Executive’s death;
(ii)    the giving of written notice of termination by the Company based upon Executive’s Disability;
(iii)    the giving of written notice to Executive by the Company that he is discharged for Cause (as hereinafter defined);
(iv)    the giving of written notice by Executive to the Company that Good Reason (as hereinafter defined) has occurred and that he has elected to resign, in which event termination shall occur thirty (30) days after delivery of such notice unless such act or omission that gave rise to 

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Good Reason has been cured by the Company prior to the expiration of such thirty (30) day period; or
(v)    (A) the giving of written notice by Executive that Executive has chosen to terminate his employment with the Company without Good Reason or due to Retirement, in which case his employment shall terminate sixty (60) days after receipt of such notice by the Company or (B) the giving by Executive of a notice of intention not to extend the Term pursuant to Section 4 hereof, in which case his employment shall terminate at the end of the then current Initial or Renewal Term, as applicable (in either case, a “Voluntary Termination”).
For the avoidance of doubt, the Company may not terminate Executive’s employment without Cause hereunder (except pursuant to Section 10(a)(ii) above).
(b)    “Cause,” as used in Section 10(a)(iii) above, shall mean that the Board, at a duly noticed meeting, has determined that there has been a final and non-appealable revocation of the License by the Nevada Gaming Authorities; provided, however, that, in the event that such revocation occurs without any fault on the part of Executive, any termination pursuant to this Section 10(b) shall be treated in the same manner as a termination due to Disability pursuant to the provisions of Section 10(d)(ii); and provided further, however, that, in the event of any revocation of the License by the Nevada Gaming Authorities, (i) the Company shall use its best efforts to resolve or assist in resolving such appeal process favorably for Executive and as promptly as practicable, and (ii) Executive may, in his sole discretion, request that the Board place Executive on an administrative leave of absence (with full compensation and benefits) during the pendency of any appeal period and/or process.
(c)    “Good Reason,” as used in Section 10(a)(iv) above, shall mean:
(i)    (A) the failure of the Company to maintain Executive as the sole Chief Executive Officer of the Company and any parent entity of the Company or (B) except as otherwise required by applicable law or regulation, the failure of Executive to be retained as Chairman of the Board or of the board of directors of LVSLLC or any parent entity thereof;
(ii)    a reduction in Executive’s Base Salary, maximum annual Bonus opportunity, benefits or perquisites;
(iii)    any requirement that Executive report directly to any person or entity other than the Board;
(iv)    any relocation of (A) the Company’s headquarters or (B) Executive’s primary office location, in either case to a location more than 30 miles from its location as of the Effective Date;

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(v)    a change in the duties and responsibilities of office that would cause Executive’s position to have less dignity, importance, authority or scope than intended at the Effective Date and as set forth herein; or
(vi)    a material breach of this Agreement by the Company.
(d)    Consequences.  Termination pursuant to this Section 10 shall have the following consequences:
(i)    Death.  In the case of a termination of this Agreement and Executive’s employment hereunder due to Executive’s death, Executive’s estate shall be entitled to receive (A) all accrued and unpaid Base Salary and bonus(es) through the date of termination (including with respect to any completed Fiscal Year); (B) continued payment of the Base Salary and annual Bonus Executive would have received had he remained employed for the twelve (12) months following the date of termination; (C) a pro rata Bonus for the year of termination, payable when annual bonuses would normally be paid to other executive officers of the Company, in an amount equal to the product of (x) the annual Bonus Executive would have earned had Executive remained employed with the Company for the entire Fiscal Year in which the termination of Executive’s employment occurs, multiplied by (y) a fraction, the numerator of which is the number of days in the Fiscal Year prior to the date of termination and the denominator of which is 365 (the “Pro Rated Bonus”); (D) accelerated vesting of all outstanding equity and equity-linked awards (including Option Incentive Awards) so that all such awards are fully vested as of the date of termination, and with all option awards (including Option Incentive Awards) remaining exercisable during the full original term of the option (without regard to termination of service); and (E) continued participation of Executive’s covered dependents in the health and welfare benefit plans of the Company during the twelve (12) month period following the date of termination.
(ii)    Disability.  In the case of a termination of this Agreement and Executive’s employment hereunder by the Company due to Disability, Executive shall be entitled to receive (A) all accrued and unpaid Base Salary and bonus(es) through the date of termination (including with respect to any completed Fiscal Year); (B) continued payment of the Base Salary and annual Bonus Executive would have received had he remained employed for the twelve (12) months following the date of termination, less any short term disability insurance proceeds received by Executive during such twelve (12) month period; (C) a Pro Rated Bonus; (D) accelerated vesting of all outstanding equity and equity-linked awards (including Option Incentive Awards) so that all such awards are fully vested as of the date of termination, and with all option awards (including Option Incentive Awards) remaining exercisable during the full original 

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term of the option (without regard to termination of service); and (E) continued participation in the health and welfare benefit plans of the Company during the twelve (12) month period following the date of termination.
(iii)    Retirement.  In the case of a termination of this Agreement and Executive’s employment hereunder due to Executive’s Retirement (other than a Post-Change in Control Voluntary Termination (as defined below)), Executive shall be entitled to receive (A) all accrued and unpaid Base Salary and bonus(es) through the date of termination (including with respect to any completed Fiscal Year); (B) a Pro Rated Bonus; (C) continued vesting of all outstanding equity and equity-linked awards (including Option Incentive Awards) in accordance with their terms so that all such awards continue to vest, restrictions on any restricted Shares continue to lapse, and any exercise periods continue, at the same rate as if Executive had remained employed by the Company at all times; and (D) continued participation in the health and welfare benefit plans of the Company during the twelve (12) month period following the date of termination.
(iv)    For Cause; Voluntary Termination.  In the case of a termination of this Agreement and Executive’s employment hereunder by the Company for Cause or due to a Voluntary Termination (other than a Retirement or a Post-Change in Control Voluntary Termination), Base Salary and benefits, including the vesting of any equity awards, payable to Executive shall immediately cease, subject to any requirements of law.
(v)    For Good Reason (No Change in Control).  In the case of a termination of this Agreement and Executive’s employment with the Company by Executive for Good Reason at any time other than within the two (2) year period following a Change in Control (as that term shall be defined in the Equity Award Plan), then Executive shall be entitled to receive (A) all accrued and unpaid Base Salary and bonus(es) through the date of termination (including with respect to any completed Fiscal Year); (B) continued payment of the Base Salary and annual Bonus Executive would have received had he remained employed through the remainder of the Term (or, if longer, for the twelve (12) months following the date of termination); (C) the Pro Rated Bonus; (D) accelerated vesting of all outstanding equity and equity-linked awards (including Option Incentive Awards) so that all such awards are fully vested as of the date of termination, and with all option awards (including Option Incentive Awards) remaining exercisable during the full original term of the option (without regard to termination of service); and (E) continued participation in the health and welfare benefit plans of the Company during the remainder of the Initial Term or the Renewal Term (or, if longer, for the twelve (12) months following the date of termination), as applicable; provided, that the Company’s obligation to provide such benefits shall 

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cease at the time Executive and his covered dependents become eligible for comparable benefits from another employer that do not exclude any pre-existing condition of Executive or any covered dependent that was not excluded under the Company’s health and welfare plans immediately prior to the date of termination.
(vi)    For Good Reason (Change in Control); Post-Change in Control Voluntary Termination.  In the case of a termination of this Agreement and Executive’s employment with the Company by Executive for Good Reason within the two (2) year period following a Change in Control, or by Executive due to a Post-Change in Control Voluntary Termination, then Executive shall be entitled to receive promptly following the date of such termination, (A) all accrued and unpaid Base Salary and bonus(es) through the date of termination (including with respect to any completed Fiscal Year); (B) a lump sum payment of two (2) times the sum of (I) the Base Salary and (II) the Maximum Bonus for the year of termination; (C) a pro rata portion of the Maximum Bonus for the year of termination in an amount equal to the product of (x) the Maximum Bonus for the Fiscal Year in which the termination of Executive’s employment occurs, multiplied by (y) a fraction, the numerator of which is the number of days in the Fiscal Year prior to the date of termination and the denominator or which is 365; (D) accelerated vesting of all outstanding equity and equity-linked awards (including Option Incentive Awards) so that all such awards are fully vested as of the date of termination, and with all option awards (including Option Incentive Awards) remaining exercisable during the full original term of the option (without regard to termination of service); and (E) continued participation in the health and welfare benefit plans of the Company and employer contributions to non-qualified retirement plans and deferred compensation plans, if any, for two years following the date of termination; provided, that the Company’s obligation to provide such benefits shall cease at the time Executive and his covered dependents become eligible for comparable benefits from another employer that do not exclude any pre-existing condition of Executive or any covered dependent that was not excluded under the Company’s health and welfare plans immediately prior to the date of termination; and provided further, that if the Change of Control does not satisfy the definition of a “change in control event” pursuant to Section 409A (as defined below), then the payment referred to in subclause (B) of this Section 10(d)(vi) will be paid ratably over the same time period that payments under Section 10(d)(v)(B) would have been payable, and the payment referred to in subclause (C) of this Section 10(d)(vi) will be payable at the same time that payment of the Pro Rated Bonus therein would have been paid, in each case assuming such termination of employment did not occur within the two (2) year period following a Change in Control.  For purposes of this Agreement, a “Post-Change in Control Voluntary Termination” shall mean a Voluntary Termination (including, for the avoidance of doubt, Retirement) by 

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Executive at any time during the one (1) year period following a Change in Control.
(vii)    Health and Welfare Benefit Equivalents.  To the extent that the health and welfare benefits provided for in Sections 10(d)(i), (ii), (iii), (v) and (vi) are not permissible after termination of employment under the terms of the benefit plans of the Company then in effect (and cannot be provided through the Company’s paying the applicable premium for Executive under COBRA), the Company shall pay to Executive such amount as is necessary to provide Executive, after tax, with an amount equal to the cost of acquiring, for Executive and his spouse and dependents, if any, on a non-group basis, for the required period, those health and other welfare benefits that would otherwise be lost to Executive and his spouse and dependents as a result of Executive’s termination.
(viii)    Timing of Certain Payments.  Subject to Section 10(f) and 12(r): (A) any amounts payable under Section 10(d)(i)(A), 10(d)(ii)(A), 10(d)(iii)(A), 10(d)(v)(A) and 10(d)(vi)(A) shall be paid as soon as practicable, and in any event within 30 days following termination of employment; (B) any reimbursements for expenses incurred under Section 10(d)(i)(E), 10(d)(ii)(E), 10(d)(iii)(D), 10(d)(v)(E) or 10(d)(vi)(E) (to the extent such reimbursements are treated as deferred compensation subject to Section 409A) shall be paid as soon as practicable following submission of the claims but in any event not later than the third calendar year following the calendar year in which Executive’s separation from service occurs; and (C) any amount payable under Section 10(d)(vii) shall be determined as soon as practicable following termination of employment and shall be paid to Executive within 60 days following termination of employment.
(e)    Excise Tax Limitation.  
(i)    Notwithstanding any other provisions in this Agreement, in the event that any payment or benefit received or to be received by Executive (including any payment or benefit received in connection with a change in control of Company or the termination of Executive’s employment, whether pursuant to the terms of this Agreement or any other plan, program, arrangement or agreement) (all such payments and benefits, together, the “Total Payments”) would be subject (in whole or part), to any excise tax imposed under Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”), or any successor provision thereto (the “Excise Tax”), then, after taking into account any reduction in the Total Payments provided by reason of Section 280G of the Code in such other plan, program, arrangement or agreement, the Company shall reduce the Total Payments to the extent necessary so that no portion of the Total Payments is subject to the Excise Tax (but in no event to less than zero); provided, however, that the Total Payments shall 

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only be reduced if (A) the net amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state, municipal and local income and employment taxes on such reduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such reduced Total Payments), is greater than or equal to (B) the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state, municipal and local income and employment taxes on such Total Payments and the amount of Excise Tax to which Executive would be subject in respect of such unreduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such unreduced Total Payments).
(ii)    In the case of a reduction in the Total Payments, the Total Payments shall be reduced in the following order:  (A) payments that are payable in cash that are valued at full value under Treasury Regulation Section 1.280G-1, Q&A 24(a) shall be reduced (if necessary, to zero), with amounts that are payable last reduced first; (B) payments and benefits due in respect of any equity valued at full value under Treasury Regulation Section 1.280G-1, Q&A 24(a), with the highest values reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24) shall next be reduced; (C) payments that are payable in cash that are valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24, with amounts that are payable last reduced first, shall next be reduced; (D) payments and benefits due in respect of any equity valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24, with the highest values reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24) shall next be reduced; and (E) all other non-cash benefits not otherwise described in clauses (B) or (D) shall be next reduced pro-rata.  Any reductions made pursuant to each of clauses (A)-(E) above shall be made in the following manner: first, a pro-rata reduction of cash payment and payments and benefits due in respect of any equity not subject to Section 409A, and second, a pro-rata reduction of cash payments and payments and benefits due in respect of any equity subject to Section 409A as deferred compensation.
(iii)    For purposes of determining whether and the extent to which the Total Payments shall be subject to the Excise Tax:  (A) no portion of the Total Payments the receipt or enjoyment of which Executive shall have waived at such time and in such manner as not to constitute a “payment” within the meaning of Section 280G(b) of the Code shall be taken into account; (B) no portion of the Total Payments shall be taken into account which, in the opinion of tax counsel (“Tax Counsel”) reasonably acceptable to Executive and selected by the accounting firm which was, immediately prior to the change of control, Company’s independent auditor (the “Auditor”), does not constitute a “parachute 

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payment” within the meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A) of the Code) and, in calculating the Excise Tax, no portion of such Total Payments shall be taken into account which, in the opinion of Tax Counsel, constitutes reasonable compensation for services actually rendered, within the meaning of Section 280G(b)(4)(B) of the Code, in excess of the “base amount” (as set forth in Section 280G(b)(3) of the Code) that is allocable to such reasonable compensation; and (C) the value of any non-cash benefit or any deferred payment or benefit included in the Total Payments shall be determined by the Auditor in accordance with the principles of Sections 280G(d)(3) and (4) of the Code.
(iv)    At the time that payments are made under this Agreement, Company shall provide Executive with a written statement setting forth the manner in which such payments were calculated and the basis for such calculations, including any opinions or other advice Company received from Tax Counsel, the Auditor, or other advisors or consultants (and any such opinions or advice which are in writing shall be attached to the statement).  If Executive objects to Company’s calculations, Company shall pay to Executive such portion of the Total Payments (up to 100% thereof) as Executive determines is necessary to result in the proper application of this Section 10(e).  All determinations required by this Section 10(e) (or requested by either Executive or Company in connection with this Section 10(e)) shall be at the expense of Company.  The fact that Executive’s right to payments or benefits may be reduced by reason of the limitations contained in this Section 10(e) shall not of itself limit or otherwise affect any of Executive’s other rights under this Agreement.
(f)    Release.  Executive acknowledges and agrees that any and all payments to which Executive is entitled under this Section 10 (in excess of those otherwise required by law or the terms of any benefit plan, program or arrangement) are conditional upon and subject to Executive’s execution of the mutual Release and Covenant Not to Sue in the form attached hereto as Exhibit A (which form may be modified as mutually agreed to reflect changes in the law following the Effective Date).  The Company shall execute and deliver to Executive such Release and Covenant Not to Sue within five days following the termination of employment.  Executive shall then execute and deliver to the Company such Release and Covenant Not to Sue within 60 days following termination of employment, and, except as otherwise provided in Section 12(r), any payments that are subject to the execution of such Release and Covenant Not to Sue shall commence to be paid on the 61st day following termination of employment.  In the event that the Company fails to execute and deliver to Executive such Release and Covenant Not to Sue as required by this Section 10(f) within five days following the termination of employment, then Executive shall have no obligation to execute or deliver such Release and Covenant Not to Sue as a condition to any payment under this Section 10.

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11.    Assignment and Assumption.
(a)    This Agreement is personal to Executive and shall not be assignable by Executive otherwise than by will or the laws of descent and distribution.  This Agreement shall inure to the benefit of and be enforceable by Executive’s legal representatives.  This Agreement shall inure to the benefit of and be binding upon the Company and its successors.
(b)    The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.  As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise.
12.    Miscellaneous.
(a)    Notices.  All notices and other communications required or permitted hereunder shall be in writing and shall be deemed to have been duly given if sent via a national overnight courier service or by certified mail, return receipt requested, postage prepaid, addressed to the parties as follows:
If to Executive, to: 
 
Sheldon G. Adelson 
c/o Las Vegas Sands, LLC 
3355 Las Vegas Boulevard South 
Las Vegas, Nevada 89109
If to the Company, to: 
 
Las Vegas Sands, LLC 
3355 Las Vegas Boulevard South 
Las Vegas, Nevada 89109 
Attn:  Global General Counsel
With a copy to: 
 
Steven L. Gerard 
Director, Chairman of the Compensation Committee 
c/o Las Vegas Sands, LLC 
3355 Las Vegas Boulevard South 
Las Vegas, Nevada 89109
or to such other address as any party shall request of the others by giving notice in accordance with this Section 12(a).

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(b)    Integration.  This Agreement is the result of substantial negotiations between the parties, represents the complete agreement of the parties with respect to the subject matter hereof, and supersedes all prior agreements and understandings (including the Prior Agreement), but excluding any prior compensation plans, programs, agreements or arrangements (including any equity-related awards).
(c)    Severability.  If any provision of this Agreement shall be declared void or unenforceable by any judicial or administrative authority, the validity of any other provision and of the entire Agreement shall not be affected thereby.
(d)    Waiver of Provisions.  The failure of any party to insist upon a strict performance of any of the terms or provisions of this Agreement or to exercise any option, right, or remedy herein contained, shall not be construed as a waiver or as a relinquishment for the future of such term, provision, option, right, or remedy, but the same shall continue and remain in full force and effect.  No waiver by either party of any term or provision hereof shall be deemed to have been made unless expressed in writing and signed by such party.
(e)    Amendments.  This Agreement may not be amended, changed or modified except by a written document signed by each of the parties hereto.
(f)    Entire Agreement.  This Agreement constitutes the entire agreement between the parties as of the Effective Date and supersedes all previous agreements and understandings between the parties with respect to the subject matter hereof (including the Prior Agreement), but excluding any prior compensation plans, programs, agreements or arrangements (including any equity-related awards).
(g)    Successors and Assigns.  All provisions of this Agreement shall be binding upon, inure to the benefit of, and be enforceable by and against the parties hereto, and their respective heirs, personal representatives, successors and permitted assigns.
(h)    Governing Law.  This Agreement shall be governed by, construed under, and interpreted in accordance with the laws of the State of Nevada applicable to agreements made and to be wholly performed within that State, without regard to its conflict of laws provisions or any conflict of laws provisions of any other jurisdiction which would cause the application of any law other than that of the State of Nevada.  Any action to enforce this agreement must be brought in a court situated in, and the parties hereby consent to the jurisdiction of, courts situated in Clark County, Nevada.  Each party hereby waives the rights to claim that any such court is an inconvenient forum for the resolution of any such action.
(i)    JURY TRIAL WAIVER.  THE PARTIES EXPRESSLY AND KNOWINGLY WAIVE ANY RIGHT TO A JURY TRIAL IN THE EVENT ANY ACTION ARISING UNDER OR IN CONNECTION WITH THIS 

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AGREEMENT OR EXECUTIVE’S EMPLOYMENT WITH THE COMPANY IS LITIGATED OR HEARD IN ANY COURT.
(j)    Dispute Resolution.
(i)    Executive acknowledges and agrees that the Company’s remedies at law for a breach or threatened breach of any of the provisions of Sections 7 or 8 herein would be inadequate and, in recognition of this fact, Executive agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Company shall be entitled to seek equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy which may then be available.  Any controversy or claim arising out of or relating to Sections 7 or 8 of this Agreement (or the breach thereof) shall be settled by a state or federal court located in Las Vegas, Nevada.
(ii)    Any controversy or claim arising out of or related to any provision of this Agreement other than Sections 7 or 8 shall be settled by final, binding and non-appealable arbitration in Las Vegas, Nevada.  Subject to the following provisions, the arbitration shall be conducted in accordance with the Employment Rules of the American Arbitration Association (the “AAA”) then in effect.  The arbitration shall be conducted by a panel of three arbitrators.  One of the arbitrators shall be appointed by the Company, one shall be appointed by Executive and the third shall be appointed by the first two arbitrators.  If the first two arbitrators cannot agree on the third arbitrator within thirty (30) days of the appointment of the second arbitrator, then the third arbitrator shall be selected from a list of seven arbitrators selected by the AAA, each of whom shall be experienced in the resolution of disputes under employment agreements for executive officers of major corporations.  From the list of seven arbitrators selected by the AAA, one arbitrator shall be selected by each party striking in turn with the party to strike first being chosen by a coin toss.  Any award entered by the arbitrators shall be final, binding and non-appealable and judgment may be entered thereon by either party in accordance with applicable law in any court of competent jurisdiction.  This arbitration provision shall be specifically enforceable.  The remedial authority of the arbitrators shall be the same as, but no greater than, would be the remedial power of a court having jurisdiction over the parties and their dispute.  The Company shall be responsible for all of the fees of the AAA and the arbitrators (if applicable).
(iii)    The Company shall reimburse Executive on a current basis for one hundred percent (100%) of Executive’s reasonable legal fees and expenses in connection with any dispute, arbitration or litigation in connection with or relating to this Agreement, Executive’s employment with the Company, or the termination thereof; provided, however, that 

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Executive shall repay to the Company any such reimbursed amounts if it is determined by a final and non-appealable judgment that Executive’s primary claim in such dispute, arbitration or litigation was brought in bad faith.  Otherwise, subject to Section 12(j)(ii), each party shall be responsible for its own expenses relating to the conduct of the arbitration or litigation, as applicable (including reasonable attorneys’ fees and expenses).
(iv)    The arbitrators shall render an award and written opinion explaining the award.
(v)    The hearing and arbitration proceedings (as well as any resulting judicial proceedings seeking to enforce or vacate any arbitration award) shall be conducted in a confidential manner and both the conduct and the results of the arbitration shall be kept confidential by the parties.  The arbitrators shall be advised of the confidentiality of the proceedings and any award and decision of the arbitrators shall be written in such a way as to protect the confidentiality of personal information or information made (or recognized as) confidential by this Agreement or recognized as confidential by any confidentiality agreement.
(vi)    In the event of litigation to secure provisional relief, or to enforce, confirm or review an arbitration award under this Agreement, any such court action shall be brought under seal to the extent permitted by the court in order to maintain the confidentiality of the matter as well as the confidentiality of the arbitration, the decision and award, any personal information and the confidentiality of any information which any party is required to keep confidential pursuant to this Agreement or any other agreement involving the parties.  Each party to any such judicial action shall make every effort in any pleadings filed with the court and in his or its conduct of any court litigation to maintain the confidentiality of any personal information and any information which any party is required to keep confidential pursuant to this Agreement or any other agreement involving the parties.  To this end, the court shall, inter alia, be informed of the confidentiality obligations of this Agreement and shall be requested that any decision, opinion or order issued by the court be written in such a manner as to protect the confidentiality of any information which is required to be kept confidential pursuant to this Agreement or any other agreement involving the parties.
(vii)    In the event of a dispute subject to this Section 12(j), the parties shall be entitled to reasonable, but expedited discovery related to the claim that is the subject of the dispute, subject to the discretion of the arbitrators.  Any discovery agreed upon or authorized by the arbitrators shall be concluded prior to the date set for the hearing.  In the event of a conflict between the applicable rules of the AAA and the procedures set forth in this Section 12(j), the provisions of this Section 12(j) shall govern.

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(k)    Withholding Taxes.  The Company may withhold from any amounts payable under this Agreement such Federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation.
(l)    Indemnification.  The Company and its successors and/or assigns, will indemnify and defend Executive to the fullest extent permitted by applicable law and the Articles of Incorporation and By-Laws of the Company with respect to any claims that may be brought against Executive arising out of any action taken or not taken in the Executive’s capacity as an officer or director of the Company.  In addition, Executive shall be covered, in respect of Executive’s activities as a director and officer of the Company, by the Company’s Directors and Officer liability policy or other comparable policies obtained by the Company’s successors, to the fullest extent permitted by such policies and on a basis not less favorable than any other individual covered by any such policy (including with respect to any tail coverage).
(m)    Continuation of Employment.  Unless the parties otherwise agree in writing, continuation of Executive’s employment with the Company beyond the expiration of the Term shall be deemed an employment at will and shall not be deemed to extend any of the provisions of this Agreement, and Executive’s employment may thereafter be terminated “at will” by Executive or the Company.
(n)    No Mitigation.  Except as expressly provided in Sections 10(d)(v) and (vi), Executive shall not be required to mitigate the value of any payments or benefits contemplated by this Agreement, nor shall any such benefits be reduced from any earnings or benefits that Executive may receive from any other source.
(o)    Headings.  Section headings in this Agreement are included for convenience of reference only and are not intended to define, limit or describe the scope or intent of any provision of this Agreement.
(p)    Counterparts.  This Agreement may be executed in two counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
(q)    Survival.  Sections 7, 8, 10(d), 10(e), 11 and 12 (including Section 12(j) and 12(l)), together with any other provisions of this Agreement which, by their nature, require full or partial performance following the termination of this Agreement or Executive’s employment, shall survive and continue in full force and effect in accordance with their terms notwithstanding the termination of this Agreement and Executive’s employment for any reason.
(r)    Section 409A.  
(i)    For purposes of this Agreement, “Section 409A” means Section 409A of the Code and the Treasury Regulations promulgated thereunder (and such other Treasury or Internal Revenue Service guidance) as in effect from time to time.  In addition, for purposes of this 

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Agreement, with respect to payments of any amounts that are considered to be “deferred compensation” subject to Section 409A, references to “termination of employment” (and substantially similar phrases) shall be interpreted and applied in a manner that is consistent with the “separation from service” requirements of Section 409A.
(ii)    It is intended that the provisions of this Agreement comply with Section 409A, and all provisions of this Agreement shall be construed and interpreted in a manner consistent with the requirements for exemption from taxes or penalties under Section 409A.  In this regard, the provisions of this Section 12(r) shall only apply if, and to the extent, required to be exempt from the imputation of any tax, penalty or interest pursuant to Section 409A.  The Company and Executive agree to negotiate in good faith to make amendments to this Agreement as the parties mutually agree are necessary or desirable to be exempt from the imposition of taxes or penalties under Section 409A.  Notwithstanding the foregoing, Executive shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on or for the account of Executive in connection with this Agreement (including any taxes and penalties under Section 409A), and neither the Company nor any affiliate shall have any obligation to indemnify or otherwise hold Executive (or any beneficiary) harmless from any or all of such taxes or penalties.
(iii)    Except as permitted under Section 409A, any deferred compensation that is subject to Section 409A and is payable to or for the benefit of Executive under any Company-sponsored plan, program, agreement or arrangement may not be reduced by, or offset against, any amount owing by Executive to the Company.
(iv)    Notwithstanding anything in this Agreement to the contrary, in the event that Executive is deemed to be a “specified employee” within the meaning of Section 409A(a)(2)(B)(i), no payments under Section 10(d) that are “deferred compensation” subject to Section 409A shall be made to Executive prior to the date that is six (6) months after the date of Executive’s “separation from service” (within the meaning of Section 409A, without application of any alternative definitions permitted thereunder) or, if earlier, Executive’s date of death. Following any applicable six (6) month delay, all such delayed payments will be paid in a single lump sum on the earliest permissible payment date.  In addition, for a period of six months following the date of separation from service, to the extent that the Company reasonably determines that any of the benefit plan coverages described in Section 10 may not be exempt from U.S. federal income tax, Executive shall in advance pay to the Company an amount equal to the stated taxable cost of such coverages for six months.  At the end of such six-month period, Executive shall be 

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entitled to receive from the Company a reimbursement of the amounts paid by Executive for such coverages.
(v)    For purposes of Section 409A, each of the payments that may be made under this Agreement are designated as separate payments.
(vi)    To the extent that any reimbursements pursuant to Section 6, 10 or 12 are taxable to Executive, any such reimbursement payment due to Executive shall be paid to Executive as promptly as practicable, and in all events on or before the last day of Executive’s taxable year following the taxable year in which the related expense was incurred.  Any such reimbursements are not subject to liquidation or exchange for another benefit and the amount of such benefits and reimbursements that Executive receives in one taxable year shall not affect the amount of such benefits or reimbursements that Executive receives in any other taxable year.
(s)    Construction.  Reference to any agreement, document, or instrument means such agreement, document, or instrument as amended or otherwise modified from time to time in accordance with the terms thereof, and if applicable hereof.  Unless otherwise indicated, any reference to a “Section” means a Section of this Agreement.  The word “including” (in its various forms) means including.  All references in this Agreement to “days” refer to “calendar days” unless otherwise specified.

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement at Las Vegas, Nevada as a contract under seal.

	
					
	LAS VEGAS SANDS CORP.
	 
	LAS VEGAS SANDS, LLC

	 /s/ Robert G. Goldstein
	 
	 /s/ Robert G. Goldstein

	By:  Robert G. Goldstein
	 
	By:  Robert G. Goldstein

	Its:   President and Chief Operating Officer
	 
	Its:   President and Chief Operating Officer

	 
	 
	 
	 
	 

	Date:
	 Sept. 5, 2017
	 
	Date:
	 Sept. 5, 2017

	 
	 
	 
	 
	 

	EXECUTIVE
	 
	 
	 

	 /s/ Sheldon G. Adelson
	 
	 
	 

	By:  Sheldon G. Adelson
	 
	 
	 

	 
	 
	 
	 
	 

	Date:
	 Sept. 5, 2017
	 
	 
	 

	 
	 
	 
	 
	 

EXHIBIT A
GENERAL RELEASE 
AND COVENANT NOT TO SUE
TO ALL WHOM THESE PRESENTS SHALL COME OR MAY CONCERN, KNOW that:
Sheldon G. Adelson (“Executive”), on Executive’s own behalf and on behalf of Executive’s descendants, dependents, heirs, executors and administrators and permitted assigns, past and present, in consideration for the amounts payable and benefits to be provided to Executive under that Amended & Restated Employment Agreement effective as of January 1, 2017 (the “Employment Agreement”) by and among Executive, Las Vegas Sands Corp. (“LVSC”), a Nevada corporation, and Las Vegas Sands, LLC, a Nevada limited liability company and wholly-owned subsidiary of LVSC (“LVSLLC” and together with LVSC, the “Company”) does hereby covenant not to sue or pursue any litigation against, and waives, releases and discharges the Company, its assigns, affiliates, subsidiaries, parents, predecessors and successors, and the past and present shareholders, employees, officers, directors, representatives and agents of any of them (collectively, the “Company Group”), from any and all claims, demands, rights, judgments, defenses, actions, charges or causes of action whatsoever, of any and every kind and description, whether known or unknown, accrued or not accrued, that Executive ever had, now has or shall or may have or assert as of the date of this Release and Covenant Not to Sue against the Company Group relating to his employment with the Company or the termination thereof or his service as an officer or director of any subsidiary or affiliate of the Company or the termination of such service, including, without limiting the generality of the foregoing, any claims, demands, rights, judgments, defenses, actions, charges or causes of action related to employment or termination of employment or that arise out of or relate in any way to the Age Discrimination in Employment Act of 1967 (“ADEA,” a law that prohibits discrimination on the basis of age), the National Labor Relations Act, the Civil Rights Act of 1991, the Americans With Disabilities Act of 1990, Title VII of the Civil Rights Act of 1964, the Employee Retirement Income Security Act of 1974, the Family and Medical Leave Act, the Sarbanes-Oxley Act of 2002, all as amended, and other Federal, state and local laws relating to discrimination on the basis of age, sex or other protected class, all claims under Federal, state or local laws for express or implied breach of contract, wrongful discharge, defamation, intentional infliction of emotional distress, and any related claims for attorneys’ fees and costs; provided, however, that nothing herein shall release the Company from any of its obligations to Executive under the Employment Agreement (including, without limitation, its obligation to pay the amounts and provide the benefits upon which this Release and Covenant Not to Sue is conditioned) or any rights Executive may have to indemnification under any charter or by-laws (or similar documents) of any member of the Company Group or any insurance coverage under any directors and officers insurance or similar policies.  Further, nothing in this Release and Covenant Not to Sue shall release any claims Executive may have as an shareholder or equityholder of the Company, or with respect to any equity or equity-linked awards held by Executive, or any other vested benefits to which Executive may be entitled.
The Company Group does hereby covenant not to sue or pursue any litigation against, and waives, releases and discharges Executive and Executive’s descendants, dependents, 

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heirs, executors and administrators and assigns, past and present (collectively, the “Executive Group”), from any and all claims, demands, rights, judgments, defenses, actions, charges or causes of action whatsoever, of any and every kind and description, whether known or unknown, accrued or not accrued, that the Company Group ever had, now have or shall or may have or assert as of the date of this Release and Covenant Not to Sue against any member of the Executive Group relating to his employment with the Company or the termination thereof or his service as an officer or director of any subsidiary or affiliate of the Company or the termination of such service, (collectively, “Claims”); provided, however, that (i) nothing herein shall release Executive from any of Executive’s obligations and covenants under Sections 7 and 8 of the Employment Agreement, and (ii) nothing herein shall release the Executive Group from any Claims which are based upon any acts or omissions of Executive that involve fraud, gross negligence or intentional misconduct.
The parties hereto agree that this Release and Covenant Not to Sue may be pleaded as a full defense to any action, suit or other proceeding covered by the terms hereof that is or may be initiated, prosecuted or maintained by any such party or his or its heirs or assigns.  Executive understands and confirms that Executive is executing this Release and Covenant Not to Sue voluntarily and knowingly, but that this Release and Covenant Not to Sue does not affect Executive’s right to claim otherwise under ADEA.  In addition, Executive shall not be precluded by this Release and Covenant Not to Sue from filing a charge with any relevant Federal, state or local administrative agency, but Executive agrees to waive Executive’s rights with respect to any monetary or other financial relief arising from any such administrative proceeding.
In furtherance of, and solely to the extend provided by, the agreements set forth above, the parties hereby expressly waive and relinquish any and all rights under any applicable statute, doctrine or principle of law restricting the right of any person to release claims that such person does not know or suspect to exist at the time of executing a release, which claims, if known, may have materially affected such person’s decision to give such a release.  In connection with such waiver and relinquishment, the parties acknowledge that they are aware that they may hereafter discover claims presently unknown or unsuspected, or facts in addition to or different from those that they now know or believe to be true, with respect to the matters released herein.  Nevertheless, it is the intention of the parties to fully, finally and forever release all such matters, and all claims relating thereto, that now exist, may exist or theretofore have existed, as specifically provided herein.  The parties hereto acknowledge and agree that this waiver shall be an essential and material term of the releases contained above.  Nothing in this paragraph is intended to expand the scope of the releases as specified herein.
This Release and Covenant Not to Sue shall be governed by and construed in accordance with the laws of the State of Nevada, applicable to agreements made and to be performed entirely within such State.
Executive acknowledges that Executive has been offered a period of time of at least twenty-one (21) days to consider whether to sign this Release and Covenant Not to Sue, which Executive has waived, and the Company agrees that Executive may cancel this Release and Covenant Not to Sue at any time during the seven (7) days following the date on which this Release and Covenant Not to Sue has been signed by all parties to this Release and Covenant Not to Sue.  In order to cancel or revoke this Release and Covenant Not to Sue, Executive must 

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deliver to the Company written notice stating that Executive is canceling or revoking this Release and Covenant Not to Sue.  If this Release and Covenant Not to Sue is timely cancelled or revoked, none of the provisions of this Release and Covenant Not to Sue shall be effective or enforceable by any party and the Company shall not be obligated to make the payments to Executive or to provide Executive with the other benefits described in the Employment Agreement and all contracts and provisions modified, relinquished or rescinded hereunder shall be reinstated to the extent in effect immediately prior hereto.
The parties acknowledge and agree that they have entered into this Release and Covenant Not to Sue knowingly and willingly and have had ample opportunity to consider the terms and provisions of this Release and Covenant Not to Sue.

IN WITNESS WHEREOF, the parties hereto have caused this General Release and Covenant Not to Sue to be executed on this                    , day of                     .

	
				
	 
	 
	LAS VEGAS SANDS CORP.

	 
	 
	 
	 

	 
	 
	By:
	 

	 
	 
	Its:
	 

	 
	 
	 
	 

	 
	 
	LAS VEGAS SANDS, LLC

	 
	 
	 
	 

	 
	 
	By:
	 

	 
	 
	Its:
	 

	 
	 
	 
	 

	 
	 
	EXECUTIVE

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