Document:

Amendment to MGM Resorts Int'l Freestanding Stock Appreciation Right Agreement

 EXHIBIT 10.22 
 AMENDMENT TO MGM MIRAGE FREESTANDING STOCK APPRECIATION 
 RIGHT AGREEMENT

 This Amendment (this “Amendment”) is made and entered into as of June 30, 2011, between Corey
Sanders (the “Employee”) and MGM Resorts International (formerly MGM MIRAGE), a Delaware corporation (the “Company”). 
 WHEREAS, on October 6, 2008 the Company granted a SAR (as defined in the SAR Agreement (as defined below)) to the Employee under the Company’s Amended and Restated 2005 Omnibus Incentive Plan
(the “Incentive Plan”) and a Freestanding Stock Appreciation Right Agreement (the “SAR Agreement”); 
 WHEREAS, on the date of grant of the SAR, the Employee had previously entered into that certain Employment Agreement entered into as of January 1, 2006, by and between MGM Grand Resorts, LLC and the
Employee (the “Employment Agreement”) which contained certain terms relating to stock options; 
 WHEREAS, the
Company has determined that the SAR Agreement did not reflect the Company’s intent with respect to the treatment of the SAR upon certain terminations of employment of the Employee; and 

WHEREAS, the Company and the Employee desire to modify the terms of the SAR by amending the SAR Agreement; 

NOW THEREFORE, the Company hereby amends the SAR Agreement as follows: 

1. A new Section shall be added to the SAR Agreement as the last Section appearing prior to the signature page of the SAR Agreement which
shall read as follows: 
 “Other Vesting; Additional Exercise Period. Notwithstanding anything to the contrary contained in this
Agreement, the Employment Agreement entered into as of January 1, 2006, by and between MGM Grand Resorts, LLC and the Participant (the “Employment Agreement”) or otherwise, 

A. the SAR evidenced by this Agreement shall receive the treatment expressly provided for stock options set forth in
Section 10 of the Employment Agreement. 
 B. with respect to any continued vesting and exerciseability of
the SAR which the Participant may be eligible to receive under Section 10 of the Employment Agreement (after giving effect to subsection A above) that is determined, in whole or in part, by reference to a period of inactive status (including,
without limitation, during the term of an expired or superseded agreement, as applicable), the continued vesting and exercise period shall be determined, in whole or in part, as applicable, by

  

 
reference to a period of inactive status, if any, as provided under the Participant’s employment agreement with the Company or any of its affiliates (including, without limitation, any
Parent or Subsidiary) in effect as of the applicable date of determination; provided, that such period shall in no event exceed the term of the SAR as set forth in Section 3.1.A of this Agreement. 

C. with respect to any accelerated vesting of the SAR which the Participant may be eligible to receive under
Section 10 of the Employment Agreement (after giving effect to subsection A above) that is calculated, in whole or in part, by reference to the remaining portion of the “Specified Term” (including, without limitation, during the term
of an expired or superseded agreement, as applicable), the accelerated vesting shall be calculated, in whole or in part, as applicable, by reference to the remaining portion of the “Specified Term,” if any, of the Participant’s
employment agreement with the Company or any of its affiliates (including, without limitation, any Parent or Subsidiary) in effect as of the applicable date of determination.” 

2. Except as specifically amended hereby, the SAR Agreement shall remain in full force and effect as originally executed. 

3. This Amendment may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument. 

  
 2 

 IN WITNESS WHEREOF, this Amendment to MGM Mirage Freestanding Stock Appreciation Right
Agreement is hereby executed in Las Vegas, Nevada to be effective as of the date set forth above. 
  

							
	MGM RESORTS INTERNATIONAL
			
		 	By:	 	/s/ John M. McManus
		 		 	Name: 	 	John M. McManus
		 		 	Title:	 	 Executive Vice President,

General Counsel & Secretary

  

AMENDMENT TO COREY SANDERS SAR AGREEMENT COVERING OCTOBER 6,
2008 SAR GRANT 

 IN WITNESS WHEREOF, this Amendment to MGM Mirage Freestanding Stock Appreciation Right
Agreement is hereby executed in Las Vegas, Nevada to be effective as of the date set forth above. 
  

	
	/s/ Corey Sanders
	Corey Sanders

  

AMENDMENT TO COREY SANDERS SAR AGREEMENT COVERING OCTOBER 6,
2008 SAR GRANTAmendment to MGM Resorts Int'l Freestanding Stock Appreciation Right Agreement

 EXHIBIT 10.23 
 AMENDMENT TO MGM MIRAGE FREESTANDING STOCK APPRECIATION 
 RIGHT AGREEMENT

 This Amendment (this “Amendment”) is made and entered into as of June 30, 2011, between William J.
Hornbuckle (the “Employee”) and MGM Resorts International (formerly MGM MIRAGE), a Delaware corporation (the “Company”). 
 WHEREAS, on October 4, 2010 the Company granted a SAR (as defined in the SAR Agreement (as defined below)) to the Employee under the Company’s Amended and Restated 2005 Omnibus Incentive Plan
(the “Incentive Plan”) and a Freestanding Stock Appreciation Right Agreement (the “SAR Agreement”); 
 WHEREAS, on the date of grant of the SAR, the Employee had previously entered into that certain Employment Agreement entered into as of September 14, 2010, by and between MGM Resorts International
and the Employee (the “Employment Agreement”) which contained certain terms relating to SARs; 
 WHEREAS, the
Company has determined that the SAR Agreement did not reflect the Company’s intent with respect to the treatment of the SAR upon certain terminations of employment of the Employee; and 

WHEREAS, the Company and the Employee desire to modify the terms of the SAR by amending the SAR Agreement; 

NOW THEREFORE, the Company hereby amends the SAR Agreement as follows: 

1. A new Section shall be added to the SAR Agreement as the last Section appearing prior to the signature page of the SAR Agreement which
shall read as follows: 
 “Other Vesting; Additional Exercise Period. Notwithstanding anything to the contrary contained in this
Agreement, the Employment Agreement entered into as of September 14, 2010, by and between MGM Resorts International and the Participant (the “Employment Agreement”) or otherwise, 

A. with respect to any continued vesting and exerciseability of the SAR which the Participant may be eligible to receive
under Section 10 of the Employment Agreement that is determined, in whole or in part, by reference to a period of inactive status (including, without limitation, during the term of an expired or superseded agreement, as applicable), the
continued vesting and exercise period shall be determined, in whole or in part, as applicable, by reference to a period of inactive status, if any, as provided under the Participant’s employment agreement with the Company or any of its
affiliates (including, without limitation, any Parent or Subsidiary) in effect as of the applicable date of determination; provided, that such period shall in no event exceed the term of the SAR as set forth in Section 3.1.A of this Agreement.

  

 B. with respect to any accelerated vesting of the SAR which the Participant
may be eligible to receive under Section 10 of the Employment Agreement that is calculated, in whole or in part, by reference to the remaining portion of the “Specified Term” (including, without limitation, during the term of an
expired or superseded agreement, as applicable), the accelerated vesting shall be calculated, in whole or in part, as applicable, by reference to the remaining portion of the “Specified Term,” if any, of the Participant’s employment
agreement with the Company or any of its affiliates (including, without limitation, any Parent or Subsidiary) in effect as of the applicable date of determination.” 
 2. Except as specifically amended hereby, the SAR Agreement shall remain in full force and effect as originally executed. 
 3. This Amendment may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

  
 2 

 IN WITNESS WHEREOF, this Amendment to MGM Mirage Freestanding Stock Appreciation Right
Agreement is hereby executed in Las Vegas, Nevada to be effective as of the date set forth above. 
  

					
	MGM RESORTS INTERNATIONAL
			
		 	By:	 	/s/ John M. McManus
		 		 	Name: John M. McManus
		 		 	 Title: Executive Vice President,
           General Counsel & Secretary

  

AMENDMENT TO WILLIAM J. HORNBUCKLE SAR AGREEMENT
COVERING OCTOBER 4, 2010 SAR GRANT 

 IN WITNESS WHEREOF, this Amendment to MGM Mirage Freestanding Stock Appreciation Right
Agreements is hereby executed in Las Vegas, Nevada to be effective as of the date set forth above. 
  

	
	/s/ William J. Hornbuckle
	William J. Hornbuckle

  

AMENDMENT TO WILLIAM J. HORNBUCKLE SAR AGREEMENT
COVERING OCTOBER 4, 2010 SAR GRANTAmendment to MGM Resorts Int'l Freestanding Stock Appreciation Right Agreement

 EXHIBIT 10.24 
 AMENDMENT TO MGM MIRAGE FREESTANDING STOCK APPRECIATION 
 RIGHT AGREEMENT

 This Amendment (this “Amendment”) is made and entered into as of June 30, 2011, between William J.
Hornbuckle (the “Employee”) and MGM Resorts International (formerly MGM MIRAGE), a Delaware corporation (the “Company”). 
 WHEREAS, on each of (i) October 6, 2008 and (ii) August 3, 2009 the Company granted a SAR (as defined in the October 6, 2008 SAR Agreement or the August 3, 2009 SAR Agreement
(each, as defined below), as applicable) to the Employee under the Company’s Amended and Restated 2005 Omnibus Incentive Plan (the “Incentive Plan”) and a Freestanding Stock Appreciation Right Agreement (the “October 6,
2008 SAR Agreement” or the “August 3, 2009 SAR Agreement,” as applicable, and collectively, the “SAR Agreements”); 
 WHEREAS, on the date of grant of each SAR, the Employee had previously entered into that certain Employment Agreement entered into as of February 4, 2008, effective as of April 2, 2008, by and
between Mandalay Corp. and MAC, CORP. and the Employee, as amended effective January 1, 2009 (the “Employment Agreement”) which contained certain terms relating to SARs; 

WHEREAS, the Company has determined that the SAR Agreements did not reflect the Company’s intent with respect to the treatment of
the SARs upon certain terminations of employment of the Employee; and 
 WHEREAS, the Company and the Employee desire to modify
the terms of the SARs by amending the SAR Agreements; 
 NOW THEREFORE, the Company hereby amends the SAR Agreements as follows:

 1. A new Section shall be added to the SAR Agreements as the last Section appearing prior to the signature page of the SAR
Agreements which shall read as follows: 
 “Other Vesting; Additional Exercise Period. Notwithstanding anything to the contrary
contained in this Agreement, the Employment Agreement entered into as of February 4, 2008, effective as of April 2, 2008, by and between Mandalay Corp. and MAC, CORP. and the Participant, as amended effective as of January 1, 2009
(the “Employment Agreement”) or otherwise, 
 A. with respect to any continued vesting and
exerciseability of the SAR which the Participant may be eligible to receive under Section 10 of the Employment Agreement that is determined, in whole or in part, by reference to a period of inactive status (including, without limitation, during
the term of an expired or superseded agreement, as applicable), the continued vesting and exercise period shall be 

  

 
determined, in whole or in part, as applicable, by reference to a period of inactive status, if any, as provided under the Participant’s employment agreement with the Company or any of its
affiliates (including, without limitation, any Parent or Subsidiary) in effect as of the applicable date of determination; provided, that such period shall in no event exceed the term of the SAR as set forth in Section 3.1.A of this Agreement.

 B. with respect to any accelerated vesting of the SAR which the Participant may be eligible to receive under
Section 10 of the Employment Agreement that is calculated, in whole or in part, by reference to the remaining portion of the “Specified Term” (including, without limitation, during the term of an expired or superseded agreement, as
applicable), the accelerated vesting shall be calculated, in whole or in part, as applicable, by reference to the remaining portion of the “Specified Term,” if any, of the Participant’s employment agreement with the Company or any of
its affiliates (including, without limitation, any Parent or Subsidiary) in effect as of the applicable date of determination.” 
 2. Except as specifically amended hereby, the SAR Agreements shall remain in full force and effect as originally executed. 
 3. This Amendment may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

  
 2 

 IN WITNESS WHEREOF, this Amendment to MGM Mirage Freestanding Stock Appreciation Right
Agreements is hereby executed in Las Vegas, Nevada to be effective as of the date set forth above. 
  

					
	MGM RESORTS INTERNATIONAL
			
		 	By:	 	/s/ John M. McManus
		 		 	Name: John M. McManus
		 		 	 Title: Executive Vice President,
           General Counsel & Secretary

  

AMENDMENT TO WILLIAM J. HORNBUCKLE SAR AGREEMENT
COVERING OCTOBER 6, 2008 AND AUGUST 3, 2009 SAR GRANTS 

 IN WITNESS WHEREOF, this Amendment to MGM Mirage Freestanding Stock Appreciation Right
Agreements is hereby executed in Las Vegas, Nevada to be effective as of the date set forth above. 

	
	
	/s/ William J. Hornbuckle
	William J. Hornbuckle

  

AMENDMENT TO WILLIAM J. HORNBUCKLE SAR AGREEMENT
COVERING OCTOBER 6, 2008 AND AUGUST 3, 2009 SAR GRANTS

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