Document:

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.14    
  

 
 

WYNN RESORTS, LIMITED
  2002 STOCK INCENTIVE PLAN    
  

1.    Purposes of the Plan.    The purposes of this Plan are: 

        (a)  to
attract and retain the best available personnel for positions of substantial responsibility, 

        (b)  to
provide additional incentive to selected key Employees, Consultants and Directors, and 

        (c)  to
promote the success of the Company's business. 

2.    Definitions.    For the purposes of this Plan, the following terms will have the following meanings: 

        (a)  "Administrator" means the Board or any of its Committees that administer the Plan, in accordance with Section 4. 

        (b)  "Applicable Laws" means the legal requirements relating to the administration of and issuance of securities under stock
incentive plans, including, without limitation, the requirements of state corporations law, federal and state securities law, federal and state tax law, and the requirements of any stock exchange or
quotation system upon which the Shares may then be listed or quoted. For all purposes of this Plan, references to statutes and regulations shall be deemed to include any successor statutes and
regulations, to the extent reasonably appropriate as determined by the Administrator. 

        (c)  "Board" means the Board of Directors of the Company. 

        (d)  "Cause" shall have the meaning set forth in a Grantee's employment or consulting agreement with the Company (if any), or
if not defined therein, shall mean (i) acts or omissions by the Grantee which constitute intentional material misconduct or a knowing violation of a material policy of the Company or any of its
subsidiaries, (ii) the Grantee personally receiving a benefit in money, property or services from the Company or any of its subsidiaries or from another person dealing with the Company or any
of its subsidiaries, in material violation of applicable law or Company policy, (iii) an act of fraud, conversion, misappropriation, or embezzlement by the Grantee or his conviction of, or
entering a guilty plea or plea of no contest with respect to, a felony, or the equivalent thereof (other than DUI), or (iv) any material misuse or improper disclosure of confidential or
proprietary information of the Company. 

        (e)  "Code" means the Internal Revenue Code of 1986, as amended. For all purposes of this Plan, references to Code sections
shall be deemed to include any successor Code sections, to the extent reasonably appropriate as determined by the Administrator. 

        (f)    "Committee" means a Committee appointed by the Board in accordance with Section 4. 

        (g)  "Common Stock" means the common stock, [$0.01] par value per share, of the Company. 

        (h)  "Company" means Wynn Resorts, Limited, a Nevada corporation. 

        (i)    "Consultant" means any natural person, including an advisor, engaged by the Company or a Parent or Subsidiary to render
bona fide services and who is compensated for such services, provided that the term "Consultant" does not include (i) Employees, (ii) Directors who are paid only a director's fee by the
Company or who are not compensated by the Company for their services as Directors or (iii) any person who provides services in connection with the offer or sale of securities in a
capital-raising transaction, or who directly or indirectly promotes or maintains a market for the securities of the Company. 

        (j)    "Continuous Status as an Employee, Director or Consultant" means that the employment, director or consulting relationship
is not interrupted or terminated by the Company, any Parent or Subsidiary, or by the Employee, Director or Consultant. Continuous Status as an Employee, Director or Consultant will not be considered
interrupted in the case of: (i) any leave of absence approved by the Board or required by Applicable Law, including sick leave, military leave, or any other personal leave, 

 

 provided, that for purposes of Incentive Stock Options, any such leave may not exceed 90 days, unless reemployment upon the expiration of such leave is guaranteed by
contract (including certain Company policies) or statute; (ii) transfers between locations of the Company or between the Company, its Parent, its Subsidiaries or its successor, or
(iii) in the case of a Nonqualified Stock Option or Stock Award, the ceasing of a person to be an Employee while such person remains a Director or Consultant, the ceasing of a person to be a
Director while such person remains an Employee or Consultant, or the ceasing of a person to be a Consultant while such person remains an Employee or Director. 

        (k)  "Director" means a member of the Board. 

        (l)    "Disability" means total and permanent disability as defined in Section 22(e)(3) of the Code. 

        (m)  "Employee" means any person, including Officers and Directors employed as a common law employee by the Company or any
Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director's fee by the Company will be sufficient, in and of itself, to constitute "employment" by the Company. 

        (n)  "Exchange Act" means the Securities Exchange Act of 1934, as amended. 

        (o)  "Fair Market Value" means, as of any date, the value of Common Stock determined as follows: 

	 
	 	 

	(i)	 	If the Common Stock is listed on any established stock exchange or a national market system, including without limitation, the National Market System of NASDAQ, the Fair Market Value of a Share of Common Stock will be
(A) the closing sales price for such stock (or the closing bid, if no sales are reported) as quoted on that system or exchange (or the system or exchange with the greatest volume of trading in Common Stock) on the last market trading day prior
to the day of determination, or (B) any sales price for such stock (or the closing bid, if no sales are reported) as quoted on that system or exchange (or the system or exchange with the greatest volume of trading in Common Stock) on the day of
determination, as the Administrator may select, as reported in the Wall Street Journal or any other source the Administrator considers reliable.
	

(ii)	
 	

If the Common Stock is quoted on the NASDAQ System (but not on the NASDAQ National Market System) or is regularly quoted by recognized securities dealers but selling prices are not reported, the Fair Market Value of a Share of Common Stock will be
the mean between the high bid and low asked prices for the Common Stock on (A) the last market trading day prior to the day of determination, or (B) the day of determination, as the Administrator may select, as reported in the Wall Street Journal or any other source the Administrator considers reliable.
	

(iii)	
 	

If the Common Stock is not traded as set forth above, the Fair Market Value will be determined in good faith by the Administrator with reference to the earnings history, book value and prospects of the Company in light of market conditions generally,
and any other factors the Administrator considers appropriate, such determination by the Administrator to be final, conclusive and binding.

        (p)  "Family Member" means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling,
niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law,
brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the Grantee's household (other than a tenant or employee), a
trust in which these persons (or the Grantee) control 

2

 

the management of assets, and any other entity in which these persons (or the Grantee) own more than fifty percent of the voting interests. 

        (q)  "Grant Notice" shall mean a written notice evidencing certain terms and conditions of an individual Option grant. The
Grant Notice is part of the Option Agreement. 

        (r)  "Grantee" shall mean (i) any Optionee or (ii) any Employee, Consultant or Director to whom a Stock Award
has been granted pursuant to this Plan. 

        (s)  "Incentive Stock Option" means an Option intended to qualify as an incentive stock option within the meaning of
Section 422 of the Code and the regulations promulgated thereunder. 

        (t)    "NASDAQ" means the National Association of Securities Dealers, Ltd. Automated Quotation System. 

        (u)  "Nonqualified Stock Option" means an Option not intended to qualify as an Incentive Stock Option. 

        (v)  "Officer" means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and
the rules and regulations promulgated thereunder. 

        (w)  "Option" means a stock option granted under this Plan. 

        (x)  "Option Agreement" means a written agreement between the Company and an Optionee evidencing the terms and conditions of
an individual Option grant. Each Option Agreement is subject to the terms and conditions of this Plan. 

        (y)  "Option Exchange Program" means a program in which outstanding Options are surrendered in exchange for Options with a
lower exercise price. 

        (z)  "Optioned Stock" means the Common Stock subject to an Option. 

        (aa) "Optionee" means an Employee, Consultant or Director who holds an outstanding Option. 

        (bb) "Parent" means a "parent corporation" with respect to the Company, whether now or later existing, as defined in
Section 424(e) of the Code. 

        (cc) "Plan" means this 2002 Stock Incentive Plan. 

        (dd) "Section" means, except as otherwise specified, a section of this Plan. 

        (ee) "Share" means a share of the Common Stock, as adjusted in accordance with Section 15. 

        (ff)  "Stock Award" shall mean a grant or sale by the Company of a specified number of Shares upon terms and conditions
determined by the Administrator. 

        (gg) "Subsidiary" means (i) a "subsidiary corporation" with respect to the Company, whether now or later existing, as
defined in Section 424(f) of the Code, or (ii) a limited liability company, whether now or later existing, which would be a "subsidiary corporation" with respect to the Company under
Section 424(f) of the Code if it were a corporation. 

3.    Stock Subject to the Plan.    Subject to the provisions of Section 15 of the Plan, the maximum aggregate number of
Shares which may be issued under the Plan will be 9,750,000 Shares of Common Stock. The Shares may be authorized, but unissued, or reacquired Common Stock. 

        If
an Option expires or becomes unexercisable without having been exercised in full, or is surrendered pursuant to an Option Exchange Program, or if a Stock Award shall be cancelled or
surrendered or expire for any reason without having been received in full, the Shares that were not purchased or received or that were cancelled will become available for future grant or sale under
the Plan (unless the Plan has terminated). If the Company repurchases Shares which were issued pursuant 

3

 

to the exercise of an Option or grant of a Stock Award, however, those repurchased Shares will not be available for future grant under the Plan. 

4.    Administration of the Plan. 

        (a)  Procedure. 

	 
	 	 

	(i)	 	Composition of the Administrator. Unless the Board expressly resolves to the contrary, the Plan will be administered only by a Committee, which will then consist solely of persons appointed by
the Board, each of whom are both "non-employee directors" within the meaning of Rule 16b-3 promulgated under the Exchange Act and "outside directors" within the meaning of Section 162(m) of the Code; provided, however, the failure of the
Committee to be composed solely of individuals who are both "non-employee directors" and "outside directors" shall not render ineffective or void any awards or grants made by, or other actions taken by, such Committee.
	

(ii)	
 	
Multiple Administrative Bodies. The Plan may be administered by different bodies with respect to Directors, Officers who are not Directors, and Employees and Consultants who are neither
Directors nor Officers.

        (b)  Powers of the Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the
specific duties delegated by the Board to that Committee, the Administrator will have the authority, in its discretion: 

	 
	 	 

	(i)	 	to determine the Fair Market Value of the Common Stock, in accordance with Section 2(o);
	

(ii)	
 	

to select the Consultants, Employees or Directors to whom Options or Stock Awards may be granted;
	

(iii)	
 	

to determine whether and to what extent Options or Stock Awards are granted, and whether Options are intended as Incentive Stock Options or Nonqualified Stock Options;
	

(iv)	
 	

to determine the number of Shares to be covered by each Option or Stock Award granted;
	

(v)	
 	

to approve forms of Grant Notices, Option Agreements and agreements governing Stock Awards;
	
 	
 	

 

4

 

	

(vi)	
 	

to determine the terms and conditions, not inconsistent with the terms of this Plan, of any grant of Options or Stock Awards, including, but not limited to, (A) the Options' exercise price, (B) the time or times when Options may be
exercised or Stock Awards will be vested, which may be based on performance criteria or other reasonable conditions such as Continuous Status as an Employee, Director or Consultant, (C) any vesting acceleration or waiver of forfeiture
restrictions, and any restriction or limitation regarding any Option, Optioned Stock or Stock Award, based in each case on factors that the Administrator determines in its sole discretion, including but not limited to a requirement subjecting the
Optioned Stock or Shares to (1) certain restrictions on transfer (including without limitation a prohibition on transfer for a specified period of time and/or a right of first refusal in favor of the
Company), and (2) a right of repurchase in favor of the Company upon termination of the Grantee's Continuous Status as an Employee, Director or Consultant;
	

(vii)	
 	

to reduce the exercise price of any Option to the Fair Market Value at the time of the reduction, if the Fair Market Value of the Common Stock covered by that Option has declined since the date it was granted;
	

(viii)	
 	

to accelerate the vesting or exercisability of an Option or Stock Award;
	

(ix)	
 	

to determine the terms and restrictions applicable to Options or Stock Awards;
	

(x)	
 	

to modify or amend each Option or Stock Award, subject to Section 17(c);
	

(xi)	
 	

to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Option previously granted by the Administrator;
	

(xii)	
 	

to institute an Option Exchange Program;
	

(xiii)	
 	

to construe and interpret the terms of this Plan;
	

(xiv)	
 	

to prescribe, amend, and rescind rules and regulations relating to the administration of this Plan; and
	

(xv)	
 	

to make all other determinations it considers necessary or advisable for administering this Plan.

        (c)  Effect of Administrator's Decision. The Administrator's decisions, determinations and interpretations will be final and
binding on all holders of Options or Stock Awards. The Administrator shall not be required to exercise its authority or discretion on a uniform or nondiscriminatory basis. 

5.    Eligibility.    Options granted under this Plan may be Incentive Stock Options or Nonqualified Stock Options, as determined by
the Administrator at the time of grant. Nonqualified Stock Options and Stock Awards may be granted to Employees, Consultants and Directors. Incentive Stock Options may be granted only to Employees;
provided, however, that Incentive Stock Options shall not be granted to
Employees of a Subsidiary that is a limited liability company unless such limited liability company is wholly-owned by the Company or by a Subsidiary that is a corporation. If otherwise eligible, an
Employee, Consultant or Director who has been granted an Option or a Stock Award may be granted additional Options or Stock Awards. 

6.    Limitations on Grants of Incentive Stock Options.    Each Option will be designated in the Grant Notice as either an Incentive
Stock Option or a Nonqualified Stock Option. However, notwithstanding such designations, if the Shares subject to an Optionee's Incentive Stock Options (granted under all 

5

 

plans of the Company or any Parent or Subsidiary), which become exercisable for the first time during any calendar year, have a Fair Market Value in excess of $100,000, the Options accounting for
this excess will be treated as Nonqualified Stock Options. For purposes of this Section 6, Incentive Stock Options will be taken into account in the order in which they were granted, and the
Fair Market Value of the Shares will be determined as of the time of grant. 

7.    Limit on Annual Grants to Individuals.    From and after such time as the Company is required to be registered pursuant to
Section 12 of the Exchange Act, no Optionee may receive grants, during any fiscal year of the Company or portion thereof, of Options which, in the aggregate, cover more than 750,000 Shares,
subject to adjustment as provided in Section 15. If an Option expires or terminates for any reason without having been exercised in full, the unpurchased shares subject to that expired or
terminated Option will continue to count against the maximum numbers of shares for which Options may be granted to an Optionee during any fiscal year of the Company or portion thereof. 

8.    Term of the Plan.    Subject to Section 21, this Plan will become effective upon the earlier to occur of its adoption
by the Board or its approval by the shareholders of the Company as described in Section 21. It will continue in effect for a term of ten years unless terminated earlier under Section 17.
Unless otherwise provided in this Plan, its termination will not affect the validity of any Option or Stock Award outstanding at the date of termination, which shall continue to be governed by the
terms of this Plan as though it remained in effect. 

9.    Term of Option.    The term of each Option will be stated in the Option Agreement;  provided, however,
that in no event may the term be more than ten years from the date of grant. In
addition, in the case of an Incentive Stock Option granted to an Optionee who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent of the voting power of
all classes of capital stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five years from the date of grant or any shorter term specified in the Option
Agreement. 

10.    Option Exercise Price and Consideration. 

        (a)  Exercise Price of Incentive Stock Options. The exercise price for Shares to be issued pursuant to exercise of an
Incentive Stock Option will be determined by the Administrator provided that the per
Share exercise price will be no less than 100% of the Fair Market Value per Share on the date of grant; provided, further that in the case of an Incentive Stock Option granted to an Employee who, at
the time the Incentive Stock Option is granted, owns stock representing more than ten percent of the voting power of all classes of capital stock of the Company or any Parent or Subsidiary, the per
Share exercise price will be no less than 110% of the Fair Market Value per Share on the date of grant. 

        (b)  Exercise Price of Nonqualified Stock Options. In the case of a Nonqualified Stock Option, the exercise price for Shares
to be issued pursuant to the exercise of any such Option will be determined by the Administrator. 

        (c)  Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which
the Option may be exercised and will determine any conditions which must be satisfied before the Option may be exercised. Exercise of an Option may be conditioned upon performance criteria or other
reasonable conditions such as Continuous Status as an Employee, Director or Consultant. 

        (d)  Form of Consideration. The Administrator will determine the acceptable form of consideration for exercising an Option,
including the method of payment. Such consideration may consist partially or entirely of: 

	 
	 	 

	(i)	 	cash;
	

(ii)	
 	

to the extent permitted by Applicable Law, a promissory note made by the Optionee in favor of the Company;
	
 	
 	

 

6

 

	

(iii)	
 	

other Shares which have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which an Option will be exercised;
	

(iv)	
 	

delivery of a properly executed exercise notice together with any other documentation as the Administrator and the Optionee's broker, if applicable, require to effect an exercise of the Option and delivery to the Company of the sale or loan proceeds
required to pay the exercise price; or
	

(v)	
 	

any other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws.

11.    Exercise of Option. 

        (a)  Procedure for Exercise; Rights as a Shareholder. Any Option granted hereunder will be exercisable according to the terms
of the Plan and at times and under conditions determined by the Administrator and set forth in the Option Agreement; provided,  however, that an Option may
not be exercised for a fraction of a Share. 

        An
Option will be deemed exercised when the Company receives: (i) written notice of exercise (in accordance with the Option Agreement) from the person entitled to exercise the
Option, (ii) full payment for the Shares with respect to which the Option is exercised, and (iii) all representations, indemnifications and documents reasonably requested by the
Administrator. Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Option Agreement and this Plan. Shares issued upon exercise of
an Option will be issued in the name of the Optionee or, if requested by the Optionee, in the name of the Optionee and his or her spouse. Until the stock certificate evidencing such Shares is issued
(as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a shareholder
will exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. Subject to the provisions of Sections 14, 18, and 19, the Company will issue (or cause to be issued) such
stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued,
except as provided in Section 15 of the Plan. Notwithstanding the foregoing, the Administrator in its discretion may require the Company to retain possession of any certificate evidencing
Shares of Common Stock acquired upon exercise of an Option, if those Shares remain subject to repurchase under the provisions of the Option Agreement or any other agreement between the Company and the
Optionee, or if those Shares are collateral for a loan or obligation due to the Company. 

        Exercising
an Option in any manner will decrease the number of Shares thereafter available, both for purposes of this Plan and for sale under the Option, by the number of Shares as to
which the Option is exercised. 

        (b)  Termination of Employment or Consulting Relationship or Directorship. If an Optionee holds exercisable Options on the
date his or her Continuous Status as an Employee, Director or Consultant terminates (other than because of termination due to Cause, death or Disability), the Optionee may exercise the Options that
were vested and exercisable as of the date of termination for a period of 90 days following such termination (or such other period as is set forth in the Option Agreement or determined by the
Administrator). If the Optionee is not entitled to exercise his or her entire Option at the date of such termination, the Shares covered by the unexercisable portion of the Option will revert to the
Plan, unless otherwise set forth in the Option Agreement or determined by the Administrator. The Administrator may determine in its sole discretion that such unexercisable portion of the Option
will become exercisable at such times and on such terms as the Administrator may determine in its sole discretion. If the Optionee does not exercise an Option within the time specified above after 

7

 

termination, that Option will expire, and the Shares covered by it will revert to the Plan, unless otherwise set forth in the Option Agreement or determined by the Administrator. 

        (c)  Disability of Optionee. If an Optionee holds exercisable Options on the date his or her Continuous Status as an Employee,
Director or Consultant terminates because of Disability, the Optionee may exercise the Options that were vested and exercisable as of the date of termination for a period of 12 months following
such termination (or such other period as is set forth in the Option Agreement or determined by the Administrator). If the Optionee is not entitled to exercise his or her entire Option at the date of
such termination, the Shares covered by the unexercisable portion of the Option will revert to the Plan, unless otherwise set forth in the Option Agreement or determined by the Administrator. The
Administrator may determine in its sole discretion that such unexercisable portion of the Option will become exercisable at such times and on such terms as the Administrator may determine in its sole
discretion. If the Optionee does not exercise an Option within the time specified above after termination, that Option will expire, and the Shares covered by it will revert to the Plan, unless
otherwise set forth in the Option Agreement or determined by the Administrator. 

        (d)  Death of Optionee. If an Optionee holds exercisable Options on the date his or her death, the Optionee's estate or a
person who acquired the right to exercise the Option by bequest or inheritance may exercise the Options that were vested and exercisable as of the date of death for a period of 12 months
following the date of death (or such other period as is set forth in the Option Agreement or determined by the Administrator). If the Optionee is not entitled to exercise his or her entire Option at
the date of death, the Shares covered by the unexercisable portion of the Option will revert to the Plan, unless otherwise set forth in the Option Agreement or determined by the Administrator. The
Administrator may determine in its sole discretion that such unexercisable portion of the Option will become exercisable at such times and on such terms as the Administrator may determine in its sole
discretion. If the Optionee's estate or a person who acquired the right to exercise the Option by bequest or inheritance does not exercise an Option within the time specified above after termination,
that Option will expire, and the Shares covered by it will revert to the Plan, unless otherwise set forth in the Option Agreement or determined by the Administrator. 

        (e)  Termination for Cause. If an Optionee's Continuous Status as an Employee, Director or Consultant is terminated for Cause,
then all Options (including any vested Options) held by Optionee shall immediately be terminated and cancelled. 

        (f)    Disqualifying Dispositions of Incentive Stock Options. If Common Stock acquired upon exercise of any Incentive Stock
Option is disposed of in a disposition that, under Section 422 of the Code, disqualifies the holder from the application of Section 421(a) of the Code, the holder of the Common Stock
immediately before the disposition will comply with any requirements imposed by the Company in order to enable the Company to secure the related income tax deduction to which it is entitled in such
event. 

12.    Non-Transferability of Options. 

        (a)  No Transfer. An Option may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other
than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee. Notwithstanding the foregoing, to the extent that the
Administrator so authorizes at the time a Nonqualified Stock Option is granted or amended, (i) such Option may be assigned pursuant to a qualified domestic relations order as defined by the
Code, and exercised by the spouse or former spouse of the Optionee who obtained such Option pursuant to such qualified domestic relations order, or (ii) such Option may be assigned, in whole or
in part, during the Optionee's lifetime to one or more Family Members of the Optionee. Rights under the assigned portion may be exercised by the Family Member(s) who acquire a proprietary interest in
such Option pursuant to the assignment. The terms applicable to the assigned portion shall be the same as 

8

 

those in effect for the Option immediately before such assignment and shall be set forth in such documents issued to the assignee as the Administrator deems appropriate. 

        (b)  Designation of Beneficiary. An Optionee may file a written designation of a beneficiary who is to receive any
Options that remain unexercised in the event of the Optionee's death. If a participant is married and the designated beneficiary is not the spouse, spousal consent will be required for the designation
to be effective. The Optionee may change such designation of beneficiary at any time by written notice to the Administrator, subject to the above spousal consent requirement. 

        (c)  Effect of No Designation. If an Optionee dies and there is no beneficiary validly designated and living at the time of
the Optionee's death, the Company will deliver such Optionee's Options to the executor or administrator of his or her estate, or if no such executor or administrator has been appointed (to the
knowledge of the Company), the Company, in its discretion, may deliver such Options to the spouse or to any one or more dependents or relatives of the Optionee, or if no spouse, dependent or relative
is known to the Company, then to such other person as the Company may designate. 

        (d)  Death of Spouse or Dissolution of Marriage. If an Optionee designates his or her spouse as beneficiary, that designation
will be deemed automatically revoked if the Optionee's marriage is later dissolved. Similarly, any designation of a beneficiary will be deemed automatically revoked upon the death of the beneficiary
if the beneficiary predeceases the Optionee. Without limiting the generality of the preceding sentence, the interest in Options of a spouse of an Optionee who has predeceased the Optionee or (except
as provided in Section 12(a) regarding qualified domestic relations orders) whose marriage has been dissolved will automatically pass to the Optionee, and will not be transferable by such
spouse in any manner, including but not limited to such spouse's will, nor will any such interest pass under the laws of intestate succession. 

13.    Stock Awards. 

        (a)  Grant. Subject to the express provisions and limitations of the Plan, the Administrator, in its sole and absolute
discretion, may grant Stock Awards to Employees, Consultants or Directors for a number of shares of Common Stock on such terms and conditions and to such Employees, Consultants or Directors as it
deems advisable and specifies in the respective grants. Subject to the limitations and restrictions set forth in the Plan, an Employee, Consultant or Director who has been granted an Option or Stock
Award may, if otherwise eligible, be granted additional Options or Stock Awards if the Administrator shall so determine. 

        (b)  Restrictions. The Administrator, in its sole and absolute discretion, may impose restrictions in connection with any
Stock Award, including without limitation, (i) imposing a restricted period during which all or a portion of the Common Stock subject to the Stock Award may not be sold, assigned, transferred,
pledged or otherwise encumbered (the "Restricted Period"), (ii) providing for a vesting schedule with respect to such Common Stock such that if a
Grantee ceases to be an Employee, Consultant or Director during the Restricted Period, some or all of the shares of Common Stock subject to the Stock Award shall be immediately forfeited and returned
to the Company. The Administrator may, at any time, reduce or terminate the Restricted Period. Each certificate issued in respect of shares of Common Stock pursuant to a Stock Award which is subject
to restrictions shall be registered in the name of the Grantee, shall be deposited by the Grantee with the Company together with a stock power endorsed in blank and shall bear an appropriate legend
summarizing the restrictions imposed with respect to such shares of Common Stock. 

        (c)  Rights As Shareholder. Subject to the terms of any agreement governing a Stock Award, the Grantee of a Stock Award shall
have all the rights of a shareholder with respect to the Common Stock issued pursuant to a Stock Award, including the right to vote such Shares; provided, however, that dividends or distributions paid
with respect to any such Shares which have not vested shall be deposited with the Company and shall be subject to forfeiture until the underlying Shares have vested unless 

9

 

otherwise provided by the Administrator in its sole discretion. A Grantee shall not be entitled to interest with respect to the dividends or distributions so deposited. 

14.    Withholding Taxes.    The Company will have the right to take whatever steps the Administrator deems necessary or appropriate
to comply with all applicable federal, state, local, and employment tax withholding requirements, and the Company's obligations to deliver Shares upon the exercise of an Option or in connection with a
Stock Award will be conditioned upon compliance with all such withholding tax requirements. Without limiting the generality of the foregoing, upon the exercise of an Option, the Company will have the
right to withhold taxes from any other compensation or other amounts which it may owe to the Optionee, or to require the Optionee to pay to the Company the amount of any taxes which the Company may be
required to withhold with respect to the Shares issued on such exercise. Without limiting the generality of the foregoing, the Administrator in its discretion may authorize the Grantee to satisfy all
or part of any withholding tax liability by (a) having the Company withhold from the Shares which would otherwise be issued in connection with a Stock Award or on the exercise of an Option that
number of Shares having a Fair Market Value, as of the date the withholding tax liability arises, equal to or less than the amount of the Company's withholding tax liability, or (b) by
delivering to the Company previously-owned and unencumbered Shares of the
Common Stock having a Fair Market Value, as of the date the withholding tax liability arises, equal to or less than the amount of the Company's withholding tax liability. 

15.    Adjustments Upon Changes in Capitalization, Dissolution, Merger or Asset Sale. 

        (a)  Changes in Capitalization. Subject to any required action by the shareholders of the Company, if the outstanding shares
of Common Stock are increased, decreased, changed into or exchanged for a different number or kind of shares or securities of the Company or a successor entity, or for other property (including
without limitation, cash), through reorganization, recapitalization, reclassification, stock combination, stock dividend, stock split, reverse stock split, spin off or other similar transaction, an
appropriate and proportionate adjustment will be made in the maximum number and kind of shares as to which Options and Stock Awards may be granted under this Plan. A corresponding adjustment changing
the number or kind of shares allocated to Stock Awards or unexercised Options which have been granted prior to any such change will likewise be made. Any such adjustment in the outstanding Options
will be made without change in the aggregate purchase price applicable to the unexercised portion of the Options but with a corresponding adjustment in the price for each share or other unit of any
security covered by the Option. Such adjustment will be made by the Administrator, whose determination in that respect will be final, binding, and conclusive. 

        Where
an adjustment under this Section 15(a) is made to an Incentive Stock Option, the adjustment will be made in a manner which will not be considered a "modification" under the
provisions of subsection 424(h)(3) of the Code. 

        (b)  Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, to the extent that an
Option had not been previously exercised or a Stock Award had not previously vested, it will terminate immediately prior to the consummation of such proposed dissolution or liquidation. In such
instance, the Administrator may, in the exercise of its sole discretion, declare that any Stock Award shall become vested or any Option will terminate as of a date fixed by the Administrator and give
each Optionee the right to exercise his or her Option as to all or any part of the Optioned Stock, including Shares as to which the Option would not otherwise be exercisable. 

        (c)  Corporate Transaction. Upon the happening of a merger, reorganization or sale of substantially all of the assets of the
Company, the Administrator, may, in its sole discretion, do one or more of the following: (i) shorten the period during which Options are exercisable (provided they remain exercisable for at
least 30 days after the date notice of such shortening is given to the Optionees); (ii) accelerate any vesting schedule to which an Option or Stock Award is subject; (iii) arrange
to have the surviving or successor entity or any parent entity thereof assume the Stock Awards and the Options 

10

 

or grant replacement options with appropriate adjustments in the option prices and adjustments in the number and kind of securities issuable upon exercise or adjustments so that the Options or their
replacements represent the right to purchase the shares of stock, securities or other property (including cash) as may be issuable or payable as a result of such transaction with respect to or in
exchange for
the number of Shares of Common Stock purchasable and receivable upon exercise of the Options had such exercise occurred in full prior to such transaction; or (iv) cancel Options or Stock Awards
upon payment to the Optionees or Grantees in cash, with respect to each Option or Stock Award to the extent then exercisable or vested (including, if applicable, any Options or Stock Awards as to
which the vesting schedule has been accelerated as contemplated in clause (ii) above), of an amount that is the equivalent of the excess of the Fair Market Value of the Common Stock (at the
effective time of the merger, reorganization, sale or other event) over (in the case of Options) the exercise price of the Option. The Administrator may also provide for one or more of the foregoing
alternatives in any particular Option Agreement or agreement governing a Stock Award. 

16.    Date of Grant.    The date of grant of an Option or Stock Award will be, for all purposes, the date as of which the
Administrator makes the determination granting such Option or Stock Award, or any other, later date determined by the Administrator and specified in the Option Agreement. Notice of the determination
will be provided to each Grantee within a reasonable time after the date of grant. 

17.    Amendment and Termination of the Plan. 

        (a)  Amendment and Termination. The Board may at any time amend, alter or suspend or terminate the Plan. 

        (b)  Shareholder Approval. The Company will obtain shareholder approval of any Plan amendment that increases the number of
Shares for which Options or Stock Awards may be granted, or to the extent necessary and desirable to comply with Section 422 of the Code (or any successor statute) or other Applicable Laws, or
the requirements of any exchange or quotation system on which the Common Stock is listed or quoted. Such shareholder approval, if required, will be obtained in such a manner and to such a degree as is
required by the Applicable Law or requirement. 

        (c)  Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the Plan will impair the
rights of a Grantee, unless mutually agreed otherwise between the Grantee and the Administrator. Any such agreement must be in writing and signed by the Grantee and the Company. 

18.    Conditions Upon Issuance of Shares. 

        (a)  Legal Compliance. Shares will not be issued in connection with a Stock Award or pursuant to the exercise of an Option
unless the exercise of such Option and the issuance and delivery of such Shares will comply with all Applicable Laws, and will be further subject to the approval of counsel for the Company with
respect to such compliance. Any securities delivered under the Plan will be subject to such restrictions, and the person acquiring such securities will, if requested by the Company, provide such
assurances and representations to the Company as the Company may deem necessary or desirable to assure compliance with all Applicable Laws. To the extent permitted by Applicable Laws, the Plan and
Options and Stock Awards granted hereunder will be deemed amended to the extent necessary to conform to such laws, rules and regulations. 

        (b)  Investment Representation. As a condition to the exercise of an Option or grant of a Stock Award, the Company may require
the person exercising such Option or receiving such Stock Award to represent and warrant at the time of any such exercise or receipt that the Shares are being acquired only for investment and without
any present intention to sell, transfer, or distribute such Shares. 

19.    Liability of Company. 

        (a)  Inability to Obtain Authority. If the Company cannot, by the exercise of commercially reasonable efforts, obtain
authority from any regulatory body having jurisdiction for the sale of any 

11

 

Shares under this Plan, and such authority is deemed by the Company's counsel to be necessary to the lawful issuance of those Shares, the Company will be relieved of any liability for failing to
issue or sell those Shares. 

        (b)  Grants Exceeding Allotted Shares. If the Optioned Stock covered by an Option or Shares subject to a Stock Award exceed,
as of the date of grant, the number of Shares which may be issued under the Plan without additional shareholder approval, that Option or Stock Award will be contingent with respect to such excess
Shares, unless and until shareholder approval of an amendment sufficiently increasing the number of Shares subject to this Plan is timely obtained in accordance with Section 17(b). 

        (c)  Rights of Participants and Beneficiaries. The Company will pay all amounts payable under this Plan only to the Grantee,
or beneficiaries entitled thereto pursuant to this Plan. The Company will not be liable for the debts, contracts, or engagements of any Grantee or his or her beneficiaries, and rights to cash payments
under this Plan may not be taken in execution by attachment or garnishment, or by any other legal or equitable proceeding while in the hands of the Company. 

20.    Reservation of Shares.    The Company will at all times reserve and keep available for issuance a number of Shares sufficient
to satisfy this Plan's requirements during its term. 

21.    Shareholder Approval.    Continuance of this Plan will be subject to approval by the shareholders of the Company within
12 months before or after the date of its adoption. Such shareholder approval will be obtained in the manner and to the degree required under Applicable Laws. Options or Stock Awards may be
granted but Options may not be exercised prior to shareholder approval of the Plan. If any Options or Stock Awards are so granted and shareholder approval is not obtained within 12 months of
the date of adoption of this Plan by the Board, those Options or Stock Awards will terminate retroactively as of the date they were granted. 

22.    Legending Stock Certificates.    In order to enforce any restrictions imposed upon Common Stock issued in connection with a
Stock Award or upon exercise of an Option granted under this Plan or to which such Common Stock may be subject, the Administrator may cause a legend or legends to be placed on any certificates
representing such Common Stock, which legend or legends will make appropriate reference to such restrictions, including, but not limited to, a restriction against sale of such Common Stock for any
period of time as may be required by Applicable Laws. Additionally, and not by way of limitation, the Administrator may impose such restrictions on any Common Stock issued pursuant to the Plan as it
may deem advisable. 

23.    No Employment Rights.    Neither this Plan nor any Option or Stock Award will confer upon a Grantee any right with respect to
continuing the Grantee's employment or consulting relationship with the Company, or continuing service as a Director, nor will they interfere in any way with the Grantee's right or the Company's right
to terminate such employment or consulting relationship or directorship at any time, with or without cause. 

24.    Governing Law.    The Plan will be governed by, and construed in accordance with the laws of the State of Nevada (without
giving effect to conflicts of law principles). 

12

QuickLinks

Exhibit 10.14

WYNN RESORTS, LIMITED 2002 STOCK INCENTIVE PLANQuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.15    
  

INDEMNITY AGREEMENT  

        THIS INDEMNITY AGREEMENT is made and entered into as of            , 2002, by and between Wynn Resorts, Limited, a Nevada
corporation (the
"Company") and                        (the
"            "), as an "Agent" (as hereinafter defined) of the
Company. 

 
 

RECITALS    
  

        A.    The
Company recognizes that competent and experienced individuals are reluctant to serve as directors or officers of corporations unless they are protected by
comprehensive liability insurance or indemnification, or both, due to increased exposure to litigation costs and risks resulting from their service to such corporations, and due to the fact that the
exposure frequently bears no reasonable relationship to the compensation of such directors and officers; 

        B.    The
Company and the Indemnitee are aware of the substantial growth in the number of lawsuits filed against corporate officers and directors in connection with their
activities in such capacities and by reason of their status as such; 

        C.    The
statutes and judicial decisions regarding the duties of directors and officers are often difficult to apply, ambiguous or conflicting, and therefore fail to provide
such directors and officers with adequate or reliable advance knowledge or guidance with respect to the legal risks and potential liabilities to which they may be come personally exposed or
information regarding the proper course of action to take in performing their duties in good faith for the Company; 

        D.    The
Company and the Indemnitee recognize that plaintiffs often seek damages in such large amounts and the costs of litigation may be so enormous (whether or not the case
is meritorious), that the defense and/or settlement of such litigation is often beyond the financial resources of officers and directors; 

        E.    The
Company believes that it is unfair for its directors and officers and the directors and officers of its subsidiaries to assume the risk of huge judgments and other
Expenses which may occur in cases in which the director or officer received no personal profit and in cases where the director or officer was not culpable; 

        F.    The
Company, after reasonable investigation, has determined that the liability insurance coverage presently available to the Company and its subsidiaries is inadequate
and/or unreasonably expensive. The Company believes that the interests of the Company and its stockholders would best be served by a combination of such insurance as the Company or its subsidiaries
may hereafter obtain and the indemnification by the Company of the directors and officers of the Company and its subsidiaries; 

        G.    Section 78.7502
of the Nevada Revised Statutes, as amended ("NRS"), empowers the Company to indemnify its officers,
directors, employees and agents and indemnify persons who serve or served, at the request of the Company, as the directors, officers, employees or agents of another corporation, partnership, joint
venture, trust or other enterprise and NRS 78.751(2) further provides that the articles, bylaws or an agreement may provide that the expenses of officers and directors incurred in defending a civil or
criminal action, suit or proceeding must be paid by the Company as they are incurred and in advance. 

        H.    NRS
78.751 expressly provides that the indemnification authorized by NRS 78.7502 and the advancement of expenses authorized in NRS 78.751(2) do not exclude any other
rights to which those seeking indemnification or advancement thereunder may be entitled under the articles of incorporation or any bylaw, agreement, vote of stockholders or disinterested directors or
otherwise; 

        I.    In
order to induce and encourage highly experienced and capable individuals to serve as an officer or director of the Company, to take the business risks necessary for
the success of the Company and its subsidiaries and to otherwise promote the desirable end that such persons will resist what they 

 

consider unjustifiable lawsuits and claims made against them in connection with good faith performance of their duties to the Company, secure in the knowledge that certain expenses, costs and
liabilities incurred by them in their defense of such litigation will be borne by the Company and that
they will receive the maximum protection against such risks and liabilities as may be afforded by law, the Board of Directors of the Company has determined, after due consideration and investigation
of the terms and provisions of this Agreement and the various other options available to the Company and the Indemnitee in lieu hereof, that contractual indemnification as set forth herein is not only
reasonable and prudent but necessary to promote and ensure the best interests of the Company, its stockholders and its subsidiaries; 

        J.    The
Company desires and has requested the Indemnitee to serve or continue to serve as a director or officer of the Company and/or one or more subsidiaries of the Company,
as the case may be, free from undue concern for unpredictable, inappropriate or unreasonable legal risks and personal liabilities arising out of or related to such services to the Company and/or one
or more of its subsidiaries; 

        K.    The
Indemnitee has served or is willing to serve, or continue to serve, the Company and/or one or more of its subsidiaries provided that he or she is furnished the
indemnity provided for herein; and 

        L.    Certain
Indemnitees have recently served as an Agent (as defined herein) in reliance of the Company's promise to enter into this Agreement upon the Company's ability to
do so as a Nevada corporation. 

TERMS AND CONDITIONS  

        NOW, THEREFORE, in consideration of the above premises and the mutual covenants and agreements set forth herein, the parties hereby agree as follows: 

        1.    Definitions. As used in this Agreement: 

        (a)  The
term "Agent" of the Company shall include any person who is or was a director, officer, employee or other agent of
the Company or was a director, officer, employee or agent of a predecessor corporation of the Company or was a member, manager or managing member of a predecessor limited liability company or
affiliate of such limited liability company or is or was serving in any capacity at the request of the Company as a director, officer, employee, agent, partner, member, manager or fiduciary of, or in
any other capacity for, another corporation or any partnership, joint venture, limited liability company, trust, or other enterprise. 

        (b)  The
term "Proceeding" shall include any threatened, pending or completed action, suit or proceeding, whether brought by
or in the name of the Company or otherwise, and whether of a civil, criminal, administrative or investigative nature including, but not limited to, actions, suits, investigations or proceedings
brought under and/or predicated upon the Securities Act of 1933, as amended, and/or
the Securities Exchange Act of 1934, as amended, and/or their respective state counterparts and/or any rule or regulation promulgated thereunder, in which the Indemnitee may be or may have been
involved as a party or otherwise, by reason of the fact that the Indemnitee is or was an Agent of the Company, by reason of any action taken by him or of any inaction on his or her part while acting
as an Agent whether or not he or she is serving in such capacity at the time any liability or expense is incurred for which indemnification or reimbursement can be provided under this Agreement. 

        (c)  The
term "Expenses" shall be broadly construed and shall include all direct and indirect costs incurred, paid or accrued
of any type or nature whatsoever including, without limitation, (i) all attorneys' fees, retainers, court costs, transcripts, fees of experts, witness fees, travel expenses (including food and
lodging expenses while traveling), duplicating costs, printing and binding costs, 

2

 

telephone charges, postage, delivery service, freight or other transportation fees and expenses and related disbursements; (ii) all other disbursements and
out-of-pocket costs; (iii) reasonable compensation for time spent by the Indemnitee for which he or she is not otherwise compensated by the Company or any third party
(provided the rate of compensation and estimated time involved is approved in advance by the Board of Directors), actually and reasonably incurred by the Indemnitee in connection with either the
investigation, defense or appeal of a Proceeding or establishing or enforcing a right to indemnification or advancement of expenses under this Agreement, NRS 78.7502, NRS 78.751 or otherwise; and
(iv) amounts paid in settlement by or on behalf of the Indemnitee to the extent permitted by Nevada law; provided,  however, that "Expenses" shall not include any judgments, fines, penalties or excise taxes imposed under
the Employee Retirement Income Security Act of 1974, as amended, or other excise taxes or penalties actually levied against the Indemnitee. 

        (d)  References
to "other enterprise" shall include, without limitation, employee benefit plans; references to
"fines" shall include, without limitation, any excise tax assessed with respect to any employee benefit plan; and any service as an Agent with respect
to any employee benefit plan, its participants or beneficiaries, and a person who acts in good faith and in a manner he or she reasonably believes to be in the interest of the participants and
beneficiaries of an employee benefit plan, shall be deemed to have acted in a manner "not opposed to the best interests of the Company" as referred to
in this Agreement. 

        (e)  "Independent Legal Counsel" means a law firm, member of a law firm, or attorney that is experienced in matters of
corporate law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with
respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification or indemnity agreements); or (ii) any other party to the Proceeding
giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Legal Counsel" shall not include any person
who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's
rights under this Agreement. 

        2.    Agreement to Serve. Unless the Indemnitee is no longer an Agent, the Indemnitee agrees to serve and/or continue to serve
as an Agent of the Company, at his or her will or under separate agreement,
as the case may be, in the capacity Indemnitee currently serves as an Agent of the Company, for so long as he or she is duly appointed or elected and qualified in accordance with the applicable
provisions of the Bylaws of the Company until such time as he or she tenders his or her resignation in writing; provided,  however, that nothing contained
in this Agreement is intended to create any right or obligation to continued employment by Indemnitee in any capacity. 

        3.    Indemnification and Contribution. The Company shall indemnify Indemnitee to the fullest extent permitted by Nevada law and
the Articles of Incorporation and Bylaws of the Company in effect on the date hereof or as Nevada law or Articles and Bylaws may from time to time be amended (but, in the case of any such amendment,
only to the extent such amendment permits the Company to provide broader indemnification rights than Nevada law and the Articles and Bylaws permitted the Company to provide before such amendment).
Such indemnification shall include, without limitation, the following: 

        (a)  Indemnity in Third Party Proceedings. The Company shall indemnify Indemnitee if the Indemnitee is a party to or is
threatened to be made a party to or otherwise involved in any Proceeding (other than a Proceeding by or in the name of the Company to procure a judgment in its favor) by reason of the fact that he or
she is or was an Agent of the Company or by reason of any act or inaction by him or her in any such capacity, against all Expenses, judgments, fines and 

3

 

amounts paid in settlement, actually and reasonably incurred by the Indemnitee in connection with the investigation, defense, settlement or appeal of such Proceeding, if he or she either is not
liable pursuant to NRS 78.138 or acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal
Proceeding, in addition had no reasonable cause to believe that his or her conduct was unlawful. The termination of any such Proceeding by judgment, order of court, settlement, conviction or upon a
plea of nolo contendere, or its equivalent, does not, of itself, create a presumption that Indemnitee is liable pursuant to NRS 78.138 or did not act in good faith in a manner which he or she
reasonably believed to be in or not opposed to the best interest of the Company, and with respect to any criminal Proceeding, that such person had reasonable cause to believe that his or her conduct
was unlawful. 

        (b)  Indemnity in Derivative Actions. The Company shall indemnify the Indemnitee if the Indemnitee is a party to or threatened
to be made a part to or otherwise involved in any Proceeding by or in the name of the Company to procure a judgment in its favor by reason of the fact that the Indemnitee was or is an Agent of the
Company or by reason of any act or inaction by him in any such capacity, against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by the Indemnitee in
connection with the investigation, defense, settlement or appeal of such Proceeding, but only if the Indemnitee is not liable pursuant to NRS 78.138 and acted in good faith and in a manner he or she
reasonably believed to be in or not opposed to the best interest of the Company, except that no indemnification under this Paragraph 3 shall be made for any claim, issue or matter to which the
Indemnitee has been adjudged by a court of competent jurisdiction, after the exhaustion of all appeals therefrom, to be liable to the Company or for amounts paid in settlement to the Company, unless
and only to the extent that any court in which such Proceeding is brought or other court of competent jurisdiction determines upon application that, in view of all the circumstances of the case, the
Indemnitee is fairly and reasonably entitled to indemnity for such amounts as the court shall deem proper. 

        (c)  Indemnification of Expenses of Successful Party. Notwithstanding any other provisions of this Agreement, to the extent
that the Indemnitee has been successful on the merits or otherwise in defense of any Proceeding or in defense of any claim, issue or matter therein, including the dismissal of an action without
prejudice, the Company shall indemnify the Indemnitee against all Expenses actually and reasonably incurred by him in connection with the investigation, defense or appeal of such Proceeding. 

        (d)  Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement, the Company will
indemnify the Indemnitee if and whenever he or she is a witness or is threatened to be made a witness to any Proceeding to which Indemnitee is not a party, by reason of the fact that he or she is or
was an Agent or by reason of anything done or not done by him in such capacity, against all Expenses actually and reasonably incurred by the Indemnitee or on Indemnitee's behalf of in connection
therewith. 

        (e)  Contribution. If the indemnification provided in this Agreement is unavailable and may not be paid to Indemnitee for any
reason other than statutory limitations set forth in applicable law, then in respect of any threatened, pending or completed Proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such action, suit, arbitration, proceeding, inquiry or investigation), the Company shall contribute to the amount of Expenses, judgments, fines and amounts paid in settlement actually
and reasonably incurred and paid or payable by Indemnitee in such proportion as is appropriate to reflect (i) the relative benefits received by the Company and all officers, directors or
employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be in joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand,
from the transaction from which such action, suit, arbitration, proceeding, inquiry or investigation arose, and (ii) the relative fault of the Company 

4

 

and all officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and
of Indemnitee, on the other, in connection with the events which resulted in such Expenses, judgments, fines and amounts paid in settlement, as well as any other relevant equitable considerations. The
relative fault referred to above shall be determined by reference to, among other things, the parties' relative intent, knowledge, access to information and opportunity to correct or prevent the
circumstances resulting in such Expenses, judgments, fines and amounts paid in settlement. The Company agrees that it would not be just and equitable if contribution pursuant to this subsection were
determined by pro rata allocation or any other method of allocation that does not take account of the foregoing equitable considerations. 

        4.    Advances of Expenses. Subject to Paragraph 11 hereof, the Company shall advance all Expenses incurred by or on
behalf of the Indemnitee in connection with the investigation, defense, settlement or appeal of any Proceeding to which the Indemnitee is a party or is threatened to be made a party by reason of the
fact that the Indemnitee is or was an Agent of the Company or is a witness of the Company in any Proceeding. The Indemnitee hereby undertakes to repay such amounts advanced only if, and to the extent
that, it shall ultimately be determined by a court of competent jurisdiction that the Indemnitee is not entitled to be indemnified by the Company as authorized by this Agreement. The advances to be
made hereunder shall be paid by the Company to or on behalf of the Indemnitee within
ten calendar days following delivery of a written request therefor by the Indemnitee to the Company. The request shall reasonably evidence the Expenses incurred by the Indemnitee in connection
therewith. The Indemnitee's entitlement to advancement of Expenses shall include those incurred in connection with any Proceeding by Indemnitee seeking a determination, adjudication or award in
arbitration pursuant to this Agreement. 

        5.    Independent Legal Counsel. The Company agrees to pay the reasonable fees of the Independent Legal Counsel referred to in
Paragraph 1(e) and to fully indemnify such counsel against any and all expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 

        6.    Procedure for Indemnification. 

        (a)  Promptly
after receipt by the Indemnitee of the commencement of or the threat of commencement of any Proceeding, the Indemnitee shall, if the Indemnitee believes that
indemnification with respect thereto may be sought for the Company under this Agreement, notify the Company of the commencement or threat of commencement thereof. The notice shall include
documentation or information which is necessary for the determination of entitlement to indemnification and which is reasonably available to the Indemnitee. Delay in so notifying the Company shall not
constitute a waiver or release by Indemnitee or of any rights hereunder. 

        (b)  Any
indemnification requested by the Indemnitee under Paragraph 3 hereof shall be made no later than 60 calendar days after receipt of the written request of
Indemnitee, unless a determination is made within said 60-day period in accordance with Paragraph 3 that the Indemnitee is not entitled to indemnification (i) by the Board of
Directors of the Company by a majority vote of a quorum thereof consisting of directors who are not parties to such Proceedings, or (ii) in the event such a quorum is not obtainable, at the
election of the Company, either by Independent Legal Counsel (selected by the Company and approved by Indemnitee, such approval not to be unreasonably withheld) in a written opinion, by the
stockholders or by a panel of arbitrators, one of whom is selected by the Company, another of whom is selected by the Indemnitee and the last of whom is selected by the first two arbitrators so
selected, that the Indemnitee has not met the relevant standards for indemnification set forth in Paragraph 3 hereof. Upon making a request for indemnification, Indemnitee shall be presumed to
be entitled to indemnification under this Agreement and the Company shall have the burden of proof to overcome that presumption in reaching any contrary determination. 

5

 

        (c)  Notwithstanding
a determination under Paragraph 6(b) above that the Indemnitee is not entitled to indemnification with respect to any specific Proceeding, the
Indemnitee shall have the right to apply to any court of competent jurisdiction in the State of Nevada for the purpose of enforcing the Indemnitee's right to indemnification pursuant to this
Agreement, which determination shall be made de novo and the Indemnitee shall not be prejudiced by reason of a determination that he or she is not entitled to indemnification. The burden of proving
that indemnification or advances are not appropriate
shall be on the Company. Neither the failure of the Company (including its Board of Directors, its stockholders, Independent Legal Counsel or the panel of arbitrators) to have made a determination
prior to the commencement of such action that indemnification or advances are proper in the circumstances because the Indemnitee has met the applicable standard of conduct, nor an actual determination
by the Company (including its Board of Directors, its stockholders, Independent Legal Counsel or the panel of arbitrator) that the Indemnitee has not met such applicable standard of conduct, shall be
a defense to the action or create any presumption that the Indemnitee has not met the applicable standard of conduct. 

        (d)  If
an initial determination is made or deemed to have been made pursuant to the terms of this Agreement that the Indemnitee is entitled to indemnification, the Company
shall be bound by such determination in the absence of (i) a misrepresentation of a material fact by Indemnitee in the request for indemnification or (ii) a specific finding (which has
become final) by a court of competent jurisdiction that all or any part of such indemnification is expressly prohibited by law. 

        (e)  The
Company shall indemnify the Indemnitee against all Expenses incurred in connection with any hearing or proceeding under this Paragraph 6 unless a court of
competent jurisdiction finds that each of the claims and/or defenses of the Indemnitee in any such proceeding was frivolous or made in bad faith. 

        7.    Indemnity Hereunder Not Exclusive. The provisions for indemnification and advancement of Expenses contained in this
Agreement shall not be deemed exclusive of any other rights which the Indemnitee may have under any provision of law, the Company's Articles of Incorporation or Bylaws, any vote of stockholders or
disinterested directors, other agreements, insurance, or other financial arrangements or otherwise, both as to action in his or her or her official capacity and as to action in another capacity while
occupying his or her position as an Agent of the Company, except that indemnification, unless ordered by a court pursuant to Paragraph 3 hereof or for the advancement of Expenses pursuant to
Paragraph 4 hereof, may not be made to or on behalf of the Indemnitee if a final adjudication establishes that his or her acts or omissions involved intentional misconduct, fraud or knowing
violation of the law and was material to the cause of action. The Indemnitee's rights hereunder shall continue after the Indemnitee has ceased acting as an Agent of the Company and shall inure to the
benefit of the heirs, devisees, executors, administrators and legal representatives of the Indemnitee. 

        8.    Partial Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the
Company for some or a portion of the Expenses, judgments or fines incurred by him in the investigation, defense, settlement or appeal of a Proceeding but not entitled, however, to indemnification for
the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for the portion thereof to which the Indemnitee is entitled. 

        9.    Assumption of Defense. In the event the Company shall be obligated to pay the Expenses of any Proceeding against the
Indemnitee, the Company, if appropriate, shall be entitled to assume the defense of such Proceeding, with counsel approved by the Indemnitee, upon the delivery of the Indemnitee of written notice of
its election to do so. After delivery of such notice, approval of such counsel by the Indemnitee and the retention of such counsel by the Company, the Company will not be
liable to the Indemnitee under this Agreement for any fees of counsel subsequently incurred by the Indemnitee with respect to the same proceeding, provided that (a) the Indemnitee shall have
the right 

6

 

to employ his or her counsel in such Proceeding at the Indemnitee's expense; and (b) if (i) the employment of counsel by the Indemnitee has been previously authorized in writing by the
Company, (ii) the Company shall have reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee in the conduct of any such defense or (iii) the
Company shall not, in fact, have employed counsel to assume the defense of such Proceeding, the fees and expenses of the Indemnitee's counsel shall be at the expense of the Company. The Company shall
not settle any action or claim that would impose any limitation or penalty on the Indemnitee without the Indemnitee's written consent. Neither the Company nor the Indemnitee will unreasonably withhold
its or his or her consent to any proposed settlement. 

        10.  Insurance. The Company shall, from time to time (including prior to the expiration of a D&O Insurance (as defined below)
policy), make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or policies of D&O Insurance with reputable insurance companies providing
the officers and directors of the Company with coverage for liabilities arising out of their acts and/or omissions as Agents, or to ensure the Company's performance of its indemnification obligations
under this Agreement (collectively, "D&O Insurance" for this Paragraph 10). Among other considerations, the Company will weigh the costs of
obtaining such insurance coverage against the protection afforded by such coverage. To the extent the Company maintains D&O Insurance, Indemnitee shall be covered by such policies in such a manner as
to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company's directors in their capacity as directors. Notwithstanding the foregoing, the Company
shall have no obligation to obtain or maintain such insurance if (a) the Company determines in good faith that (i) such insurance is not reasonably available, (ii) the premium
costs for such insurance are substantially disproportionate to the amount of coverage provided or (iii) the coverage provided by such insurance is limited by exclusions so as to provide an
insufficient benefit, or (b) Indemnitee is covered by similar insurance maintained by a subsidiary or parent of the Company or other person under common control with the Company.
Notwithstanding any other provision of the Agreement, the Company shall not be obligated to indemnify Indemnitee for Expenses, judgments, fines, or amounts paid in settlement, which have been paid
directly to Indemnitee by D&O Insurance. If the Company has D&O Insurance in effect at the time the Company receives from Indemnitee any notice of the commencement of a Proceeding, the Company shall
give prompt notice of the commencement of such Proceeding to the insurers in accordance with the procedures set forth in the policy. The Company shall thereafter take all necessary or desirable action
to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policy. 

        11.  Exceptions to Indemnification. Notwithstanding any provision herein to the contrary, the Company shall not be obligated
pursuant to the terms of this Agreement: 

        (a)  To
indemnify or advance Expenses to the Indemnitee with respect to proceedings or claims initiated or brought voluntarily by the Indemnitee and not by way of defense,
except with respect to Proceedings brought to establish or enforce a right to indemnification under this Agreement or any law or otherwise as required under NRS 78.751, but such indemnification or
advancement of Expenses may be provided by the Company in specific cases if the Board of Directors finds it to be appropriate; or 

        (b)  To
indemnify the Indemnitee for any Expenses incurred by the Indemnitee with respect to any proceeding instituted by the Indemnitee to enforce or interpret this
Agreement, if a court of competent jurisdiction determines that each of the material assertions made by the Indemnitee in such proceeding was not made in good faith or was frivolous; or 

        (c)  To
indemnify the Indemnitee under this Agreement for any amounts paid in settlement of a Proceeding effected without the Company's written consent; or 

7

 

        (d)  To
indemnify the Indemnitee on account of any Proceeding with respect to (i) remuneration paid to Indemnitee if it is determined by final judgment or other final
adjudication that such remuneration was in violation of law, (ii) which final judgment is rendered against the Indemnitee for an accounting of profits made from the purchase or sale by
Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended, the provisions of Section 304 of the
Sarbanes-Oxley Act of 2002 or similar provisions of any federal, state or local statute, or (iii) which it is determined by final judgment or other final adjudication that the Indemnitee
defrauded or stole from the Company or converted to his or her own personal use and benefit business or properties of the Company or was otherwise knowingly dishonest; or 

        (e)  To
indemnify the Indemnitee on account of any Proceeding by the Company to enforce against the Indemnitee or any affiliate of the Indemnitee the provisions of its
Articles of Incorporation or Bylaws with respect to compliance with gaming laws, including, without limitation, provisions governing the removal of the Indemnitee as a director of the Company or the
redemption of securities owned by the Indemnitee or an affiliate of the Indemnitee. 

        12.  Duration and Interpretation of Agreement. It is understood that the parties hereto intend this Agreement to be
interpreted and enforced so as to provide indemnification to the Indemnitee to the fullest extent now or hereafter permitted by law. This Agreement shall continue so long as the Indemnitee shall be
subject to any possible Proceeding by reason of the fact that he or she is or was an Agent and shall be applicable to Proceedings commenced or continued after execution of this Agreement, whether
arising from acts or omissions occurring before or after such execution. 

        13.  Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for
any reason whatsoever, (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, all portions of any paragraphs of this
Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby,
and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any such provision held to be
invalid, illegal or
unenforceable that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provisions held invalid, illegal or unenforceable and
to give effect to paragraph 12 hereof. 

        14.  Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in
writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any provision hereof (whether or not similar) nor shall such
waiver constitute a continuing waiver. 

        15.  Successor and Assigns. The terms of this Agreement shall be binding upon the Company and its successors and assigns and
shall inure to the benefit of Indemnitee and his or her spouse, assigns, heirs, devisees, executors, administrators and other legal representatives. 

        16.  Notices. All notices or other communications provided for by this Agreement shall be made in writing and shall be deemed
properly delivered when (i) delivered personally or by messenger (including air courier), or (ii by the mailing of such notice to the party entitled thereto, registered or 

8

 

certified mail, postage prepaid to the parties at the following addresses (or to such other addresses designated in writing by one party to the other): 

	 
	 	 

	Company:	 	Wynn Resorts, Limited

3145 Las Vegas Boulevard South

Las Vegas, Nevada 89109

Facsimile: 702.733.4596

Attention: Legal Department
	

With a copies to:	
 	

Irell & Manella LLP

1800 Avenue of the Stars, Suite 900

Los Angeles, California 90067

Facsimile: 310.203.7199

Attention: C. Kevin McGeehan, Esq.
	

Indemnitee:	
 	

        17.  Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
Nevada. 

        18.  Consent of Jurisdiction. The Company and the Indemnitee each hereby irrevocably consent to the jurisdiction of the courts
of the State of Nevada for all purposes in connection with any action or Proceeding which arises out of or relates to this Agreement and agree that any action instituted under this Agreement shall be
brought only in the state courts of the State of Nevada. 

        19.  Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment
to all of the rights of recovery of Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Company effectively to
bring suit to enforce such rights. 

        20.  Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed an original but
both of which together will constitute one and the same instrument. 

        IN
WITNESS WHEREOF, the parties hereto have duly executed this Indemnity Agreement as of the date first above written. 

	 	 	Company:
	

 	
 	

WYNN RESORTS, LIMITED,

a Nevada corporation
	

 	
 	

By:	
 	

	 	 	Name:	 	

	 	 	Title:	 	

	 	 	Indemnitee:
	

 	
 	

	

 	
 	

Name:	
 	

9

QuickLinks

Exhibit 10.15

RECITALS

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}]]