Document:

Exhibit
10.71

 

 

Las
Vegas Sands Corp.

2004 EQUITY AWARD PLAN

 

NONQUALIFIED STOCK OPTION AGREEMENT

 

THIS NONQUALIFIED STOCK
OPTION AGREEMENT (the “Agreement”), dated as of
December     , 2004 (the “Date of Grant”), is
made by and between Las Vegas Sands Corp., a Nevada corporation (the “Company”),
and
                    
(the “Participant”).

 

R
E
C
I
T
A
L
S:

 

WHEREAS, the Company has
adopted the Las Vegas Sands Corp. 2004 Equity Award Plan (the “Plan”),
pursuant to which options may be granted to purchase shares of the Company’s
Common Stock; and

 

WHEREAS, the Compensation
Committee of the Board of Directors of the Company (the “Committee”) has
determined that it is in the best interests of the Company and its stockholders
to grant to the Participant a nonqualified stock option to purchase the number
of shares of the Company’s Common Stock provided for herein.

 

NOW, THEREFORE, for and
in consideration of the premises and the covenants of the parties contained in
this Agreement, and for other good and valuable consideration, the receipt of
which is hereby acknowledged, the parties hereto, for themselves, their
successors and assigns, hereby agree as follows:

 

1.                                       Grant
of Option.

 

The
Company hereby grants on the Date of Grant to the Participant an option (the “Option”)
to purchase         shares of Common Stock
(such shares of Common Stock, the “Option Shares”), on the terms and
conditions set forth in this Agreement and as otherwise provided in the
Plan.  The Option is not intended to
qualify as an incentive stock option within the meaning of Section 422 of
the Code.

 

2.                                       Incorporation
by Reference, Etc.

 

The
provisions of the Plan are hereby incorporated herein by reference.  Except as otherwise expressly set forth
herein, this Agreement shall be construed in accordance with the provisions of
the Plan and any capitalized terms not otherwise defined in this Agreement
shall have the definitions set forth in the Plan.  The Committee shall have final authority to interpret and
construe the Plan and this Agreement and to make any and all determinations
under them, and its decision shall be binding and conclusive upon the
Participant and his legal representative in respect of any questions arising
under the Plan or this Agreement.

 

 

 

3.                                       Terms
and Conditions.

 

(a)                                  Option
Price.  The price at which the
Participant shall be entitled to purchase the Option Shares upon the exercise
of all or any portion of the Option shall be
$                    
per Option Share.

 

(b)                                 Expiration
Date.  Subject to Section 3(d)
hereof, the Option shall expire at the end of the period commencing on the Date
of Grant and ending at 11:59 p.m. Eastern Standard Time on the day preceding
the tenth anniversary of the Date of Grant (the “Option Period”).

 

(c)                                  Exercisability
of the Option.

 

(i)                                     Subject
to the Participant’s continued employment with the Company or an Affiliate and
except as may otherwise be provided herein, the Option shall become vested and
exercisable as to twenty-five percent (25%) of the Option Shares on each of the
first, second, third and fourth anniversaries of January 1, 2005.

 

(ii)                                  The
Option may be exercised only by written notice, substantially in the form
attached hereto as Exhibit A (or a successor form provided by the
Committee) delivered in person or by mail in accordance with Section 6(a)
hereof and accompanied by payment therefor. 
The purchase price of the Option Shares shall be paid by the Participant
to the Company (i) in cash and/or shares of Common Stock valued at the Fair
Market Value at the time the Option is exercised (including by means of
attestation of ownership of a sufficient number of shares of Stock in lieu of
actual delivery of such shares to the Company); provided, that, if
deemed necessary by the Company’s independent accounting firm in order to avoid
an accounting charge to earnings for compensation on account of the exercise of
the Option, such shares of Stock shall be Mature Shares, (ii) in the discretion
of the Committee, either (A) in other property having a fair market value on
the date of exercise equal to the Option Price or (B) by delivering to the
Committee a copy of irrevocable instructions to a stockbroker to deliver
promptly to the Company an amount of loan proceeds, or proceeds from the sale
of the Option Shares, sufficient to pay the Option Price or (iii) by such other
method as the Committee may allow in writing. 
Notwithstanding the foregoing, in no event shall a Participant be
permitted to exercise an Option in the manner described in clause (ii) or (iii)
of the preceding sentence if the Committee determines that exercising an Option
in such manner would violate the Sarbanes-Oxley Act of 2002, as amended, or any
other applicable law or the applicable rules and regulations of the Securities
and Exchange Commission or the applicable rules and regulations of any
securities exchange or inter dealer quotation system on which the securities of
the Company or any Affiliates are listed or traded.

 

(d)                                 Effect
of Termination of Employment on the Option.

 

(i)                                     Death/Disability.  If the Participant’s employment is
terminated with the Company and its Affiliates due to the Participant’s death
or by the

 

2

 

Company or any Affiliate
due to Disability, the Option shall become vested and exercisable on the date
of such termination to the extent the Option would have become vested and
exercisable during the twelve (12) month period immediately following the date
of such termination had the Participant remained employed on the last day of
such twelve-month period.  The unvested
portion of the Option shall expire on the date of termination and the vested
portion of the Option (including any portion vested pursuant to the previous
sentence of this Section 3(d)(i)), shall remain exercisable by the
Participant through the earlier of (A) the expiration of the Option Period or
(B) the first anniversary of the date of termination on account of death or
Disability.

 

(ii)                                  Termination
Without Cause or for Good Reason.  If the Participant’s employment with the
Company and its Affiliates is terminated by the Company or any Affiliate
without Cause or by the Participant for “Good Reason” (as defined below), the
Option shall become vested and exercisable on the date of such termination as
to 100% of the Option Shares and shall remain exercisable by the Participant
through the earlier of (A) the expiration of the Option Period or (B) ninety
days (90) following such termination. 
For purposes of this Agreement, “Good Reason” shall mean
“Good Reason” as such term is defined in any agreement (other than this
Agreement) between the Participant and the Company or an Affiliate, and absent
such an agreement, shall be inapplicable.

 

(iii)                               Termination for Cause
or by the Participant without Good Reason. 
If the Participant’s employment with the Company and its Affiliates is
terminated by the Company or any Affiliate for Cause, both the unvested and the
vested portions of the Option shall terminate on the date of such
termination.  If the Participant terminates
his employment other than for Good Reason, the unvested portion of the Option
shall expire on the date of termination and the vested portion of the Option
shall remain exercisable by the Participant through the earlier of (A) the
expiration of the Option Period or (B) ninety (90) days following such
termination.

 

(iv)                              Non-Renewal
Termination.  If the Participant’s
employment is terminated due to a “Non-Renewal Termination,” as such term is
defined in any employment agreement between the Participant and the Company or
an Affiliate, the Option shall continue to vest in accordance with the vesting
schedule set forth in Section 3(c)(i) as if the Participant had
remained employed by the Company through the date on which the Option would
otherwise have become vested as to 100% of the Options Shares.  The Option shall remain exercisable by the
Participant through the earlier of (A) the expiration of the Option Period or
(B) ninety (90) days following the date upon which the Option becomes vested as
to 100% of the Option Shares.

 

(v)                                 Retirement.  If the Participant’s employment is
terminated by the Participant for other than Good Reason on at least sixty (60)
days prior written notice after the Participant has attained age 65, the Option
shall continue to vest in accordance with the vesting schedule set forth
in Section 3(c)(i) as if Participant had remained employed by the Company
through the date on which the Option would otherwise have become vested as to
100% of the Option Shares.  The Option
shall remain exercisable by the Participant until the expiration of the Option
Period.

 

3

 

(e)                                  Compliance
with Legal Requirements.  The
granting and exercising of the Option, and any other obligations of the Company
under this Agreement shall be subject to all applicable federal and state laws,
rules and regulations and to such approvals by any regulatory or governmental
agency as may be required.  The
Committee, in its sole discretion, may postpone the issuance or delivery of
Option Shares as the Committee may consider appropriate and may require the
Participant to make such representations and furnish such information as it may
consider appropriate in connection with the issuance or delivery of Option
Shares in compliance with applicable laws, rules and regulations.

 

(f)                                    Transferability.  The Option shall not be transferable by the
Participant other than by will or the laws of descent and distribution.

 

(g)                                 Rights
as Stockholder.  The Participant
shall not be deemed for any purpose to be the owner of any shares of Common
Stock subject to this Option unless, until and to the extent that (i) this
Option shall have been exercised pursuant to its terms, (ii) the Company shall
have issued and delivered to the Participant the Option Shares, and (iii) the
Participant’s name shall have been entered as a stockholder of record with
respect to such Option Shares on the books of the Company.

 

(h)                                 Tax
Withholding.  Prior to the delivery
of a certificate or certificates representing the Option Shares, the
Participant must pay in the form of a certified check to the Company any such
additional amount as the Company determines that it is required to withhold
under applicable federal, state or local tax laws in respect of the exercise or
the transfer of Option Shares; provided that the Committee may, in its
sole discretion, allow such withholding obligation to be satisfied by any other
method described in Section 12(d) of the Plan.

 

4.                                       Miscellaneous.

 

(a)                                  Notices.  All notices, demands and other
communications provided for or permitted hereunder shall be made in writing and
shall be by registered or certified first-class mail, return receipt requested,
telecopier, courier service or personal delivery:

 

if to the Company:

 

Las Vegas Sands, Inc.

3355 Las Vegas Boulevard South

Las Vegas, Nevada 89109

Attn: General Counsel

 

With a copy to:

 

4

 

Charles D. Forman

Director, Member of the Compensation Committee

300 First Avenue

Needham, Massachusetts 02494

 

if to the Participant, at the Participant’s last known
address on file with the Company.

 

All such notices, demands
and other communications shall be deemed to have been duly given when delivered
by hand, if personally delivered; when delivered by courier, if delivered by
commercial courier service; five (5) business days after being deposited in the
mail, postage prepaid, if mailed; and when receipt is mechanically
acknowledged, if telecopied.

 

(b)                                 Severability.  The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, and each other provision of this
Agreement shall be severable and enforceable to the extent permitted by law.

 

(c)                                  No
Rights to Employment.  Nothing
contained in this Agreement shall be construed as giving the Participant any
right to be retained, in any position, as an employee, consultant or director
of the Company or its Affiliates or shall interfere with or restrict in any way
the right of the Company or its Affiliates, which are hereby expressly
reserved, to remove, terminate or discharge the Participant at any time for any
reason whatsoever.

 

(d)                                 Bound
by Plan.  By signing this Agreement,
the Participant acknowledges that he has received a copy of the Plan and has
had an opportunity to review the Plan and agrees to be bound by all the terms
and provisions of the Plan.

 

(e)                                  Beneficiary.  The Participant may file with the Committee
a written designation of a beneficiary on such form as may be prescribed by the
Committee and may, from time to time, amend or revoke such designation.  If no designated beneficiary survives the
Participant, the executor or administrator of the Participant’s estate shall be
deemed to be the Participant’s beneficiary.

 

(f)                                    Successors.  The terms of this Agreement shall be binding
upon and inure to the benefit of the Company and its successors and assigns,
and of the Participant and the beneficiaries, executors, administrators, heirs
and successors of the Participant.

 

(g)                                 Entire
Agreement.  This Agreement and the
Plan contain the entire agreement and understanding of the parties hereto with
respect to the subject matter contained herein and supersede all prior
communications, representations and negotiations in respect thereto.  No change, modification or waiver of any
provision of this Agreement shall be valid unless the same be in writing and
signed by the parties hereto.  The
Participant agrees and acknowledges that this Agreement supersedes all prior

 

5

 

stock option agreements
between the Participant and the Company, and that all such prior agreements are
void and unenforceable.

 

(h)                                 Governing
Law.  This Agreement shall be construed and interpreted in accordance
with the laws of the State of Nevada without regard to principles of conflicts
of law thereof, or principals of conflicts of laws of any other jurisdiction
which could cause the application of the laws of any jurisdiction other than
the State of Nevada.

 

(i)                                     Headings.  The headings of the Sections hereof are
provided for convenience only and are not to serve as a basis for
interpretation or construction, and shall not constitute a part, of this
Agreement.

 

(j)                                     Signature
in Counterparts.  This Agreement 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.

 

[Remainder of page
intentionally left blank; signature page to follow]

 

6

 

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

 

	
   

  	
  Las Vegas Sands Corp.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [ Name of Participant]

  

 

 

[Signature Page to Nonqualified Stock
Option Agreement]

 

 

Exhibit
A

 

NOTICE OF OPTION EXERCISE

 

PURSUANT
TO THE LAS VEGAS SANDS CORP.

2004 EQUITY AWARD PLAN

 

To exercise your option to purchase shares of Las
Vegas Sands Corp. (the “Company”) 
Common Stock (“Shares”), please fill out this form and return it to the
General Counsel of the Company, together with either a certified check in the
amount of the exercise price due, which is the product of the number
of Shares with respect to which you are exercising the Option and the per share
exercise price, or shares of Common Stock with a Fair Market Value equal to the exercise
price due.  You are not
required to exercise your option with respect to all Shares thereunder.  You also must include, as applicable, either
a certified check in the amount of any required payroll taxes and income tax
withholding due in connection with your exercise or shares of Common Stock with
a Fair Market Value equal to the amount of any required payroll taxes and
income tax withholding due in connection with your exercise, unless the
Committee administering the Las Vegas Sands Corp. 2004 Equity Award Plan
specifically provides for such obligation to be satisfied in a different
manner.

 

I
hereby exercise my right to purchase
                
Shares under the option granted to me pursuant to the Nonqualified Stock Option
Agreement between myself and the Company, dated as of
December      , 2004.  I am vested in my option as to the Shares being purchased
hereunder.  I have enclosed either (a)
one or more certified checks covering both the exercise price of $                
and the required payroll taxes and income tax withholding of
$               
or (b) shares of Common Stock with a Fair Market Value equal to both the
exercise price of
$                   
and, if so permitted by the Committee the required payroll taxes and income tax
withholding of
$                
(if not so permitted, please enclose a certified check for the
withholding).  (Please contact the
office of the General Counsel of the Company to determine the amount of any
required payroll taxes and income tax withholding.)  I hereby represent that, to the best of my knowledge and belief,
I am legally entitled to exercise this Option.

 

	
  Signature:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Printed Name:

  	
   

  	
   

  	
   

  

 

A-1

 

	
  Social Security Number:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
   

  

 

A-2

 

 

Las
Vegas Sands Corp.

2004 EQUITY AWARD PLAN

 

NONQUALIFIED STOCK OPTION AGREEMENT

 

THIS NONQUALIFIED STOCK
OPTION AGREEMENT (the “Agreement”), dated as of
December      , 2004 (the “Date of Grant”),
is made by and between Las Vegas Sands Corp., a Nevada corporation (the “Company”),
and
                        
(the “Participant”).

 

R
E
C
I
T
A
L
S:

 

WHEREAS, the Company has
adopted the Las Vegas Sands Corp. 2004 Equity Award Plan (the “Plan”),
pursuant to which options may be granted to purchase shares of the Company’s
Common Stock; and

 

WHEREAS, the Compensation
Committee of the Board of Directors of the Company (the “Committee”) has
determined that it is in the best interests of the Company and its stockholders
to grant to the Participant a nonqualified stock option to purchase the number
of shares of the Company’s Common Stock provided for herein.

 

NOW, THEREFORE, for and
in consideration of the premises and the covenants of the parties contained in
this Agreement, and for other good and valuable consideration, the receipt of
which is hereby acknowledged, the parties hereto, for themselves, their
successors and assigns, hereby agree as follows:

 

1.                                       Grant
of Option.

 

The
Company hereby grants on the Date of Grant to the Participant an option (the “Option”)
to purchase       shares of Common Stock (such shares
of Common Stock, the “Option Shares”), on the terms and conditions set
forth in this Agreement and as otherwise provided in the Plan.  The Option is not intended to qualify as an
incentive stock option within the meaning of Section 422 of the Code.

 

2.                                       Incorporation
by Reference, Etc.

 

The
provisions of the Plan are hereby incorporated herein by reference.  Except as otherwise expressly set forth
herein, this Agreement shall be construed in accordance with the provisions of
the Plan and any capitalized terms not otherwise defined in this Agreement
shall have the definitions set forth in the Plan.  The Committee shall have final authority to interpret and
construe the Plan and this Agreement and to make any and all determinations
under them, and its decision shall be binding and conclusive upon the
Participant and his legal representative in respect of any questions arising
under the Plan or this Agreement.

 

 

3.                                       Terms
and Conditions.

 

(a)                                  Option
Price.  The price at which the
Participant shall be entitled to purchase the Option Shares upon the exercise
of all or any portion of the Option shall be
$                       
per Option Share.

 

(b)                                 Expiration
Date.  Subject to Section 3(d)
hereof, the Option shall expire at the end of the period commencing on the Date
of Grant and ending at 11:59 p.m. Eastern Standard Time on the day preceding
the tenth anniversary of the Date of Grant (the “Option Period”).

 

(c)                                  Exercisability
of the Option.

 

(i)                                     Subject
to the Participant’s continued employment with the Company or an Affiliate and
except as may otherwise be provided herein, the Option shall become vested and
exercisable as to twenty-five percent (25%) of the Option Shares on each of the
first, second, third and fourth anniversaries of January 1, 2005.

 

(ii)                                  The
Option may be exercised only by written notice, substantially in the form
attached hereto as Exhibit A (or a successor form provided by the
Committee) delivered in person or by mail in accordance with Section 6(a)
hereof and accompanied by payment therefor. 
The purchase price of the Option Shares shall be paid by the Participant
to the Company (i) in cash and/or shares of Common Stock valued at the Fair
Market Value at the time the Option is exercised (including by means of
attestation of ownership of a sufficient number of shares of Stock in lieu of
actual delivery of such shares to the Company); provided, that, if
deemed necessary by the Company’s independent accounting firm in order to avoid
an accounting charge to earnings for compensation on account of the exercise of
the Option, such shares of Stock shall be Mature Shares, (ii) in the discretion
of the Committee, either (A) in other property having a fair market value on
the date of exercise equal to the Option Price or (B) by delivering to the
Committee a copy of irrevocable instructions to a stockbroker to deliver
promptly to the Company an amount of loan proceeds, or proceeds from the sale
of the Option Shares, sufficient to pay the Option Price or (iii) by such other
method as the Committee may allow in writing. 
Notwithstanding the foregoing, in no event shall a Participant be
permitted to exercise an Option in the manner described in clause (ii) or (iii)
of the preceding sentence if the Committee determines that exercising an Option
in such manner would violate the Sarbanes-Oxley Act of 2002, as amended, or any
other applicable law or the applicable rules and regulations of the Securities
and Exchange Commission or the applicable rules and regulations of any
securities exchange or inter dealer quotation system on which the securities of
the Company or any Affiliates are listed or traded.

 

(d)                                 Effect
of Termination of Employment on the Option.

 

(i)                                     Death/Disability.  If the Participant’s employment is
terminated with the Company and its Affiliates due to the Participant’s death
or by the

 

2

 

Company or any Affiliate
due to Disability, the Option shall become vested and exercisable on the date
of such termination to the extent the Option would have become vested and
exercisable during the twelve (12) month period immediately following the date
of such termination had the Participant remained employed on the last day of
such twelve-month period.  The unvested
portion of the Option shall expire on the date of termination and the vested
portion of the Option (including any portion vested pursuant to the previous
sentence of this Section 3(d)(i)), shall remain exercisable by the
Participant through the earlier of (A) the expiration of the Option Period or
(B) the first anniversary of the date of termination on account of death or
Disability.

 

(ii)                                  Termination
Without Cause or for Good Reason.  If the Participant’s employment with the
Company and its Affiliates is terminated by the Company or any Affiliate
without Cause or by the Participant for “Good Reason” (as defined below), the
Option shall become vested and exercisable on the date of such termination as
to 100% of the Option Shares and shall remain exercisable by the Participant
through the earlier of (A) the expiration of the Option Period or (B) ninety
days (90) following such termination. 
For purposes of this Agreement, “Good Reason” shall mean
“Good Reason” as such term is defined in any agreement (other than this
Agreement) between the Participant and the Company or an Affiliate, and absent
such an agreement, shall be inapplicable.

 

(iii)                               Termination for Cause
or by the Participant without Good Reason. 
If the Participant’s employment with the Company and its Affiliates is
terminated by the Company or any Affiliate for Cause, both the unvested and the
vested portions of the Option shall terminate on the date of such
termination.  If the Participant
terminates his employment other than for Good Reason, the unvested portion of
the Option shall expire on the date of termination and the vested portion of
the Option shall remain exercisable by the Participant through the earlier of
(A) the expiration of the Option Period or (B) ninety (90) days following such
termination.

 

(iv)                              Non-Renewal
Termination.  If the Participant’s
employment is terminated due to a “Non-Renewal Termination,” as such term is
defined in any employment agreement between the Participant and the Company or
an Affiliate, the Option shall continue to vest in accordance with the vesting
schedule set forth in Section 3(c)(i) as if the Participant had
remained employed by the Company through the date on which the Option would
otherwise have become vested as to 100% of the Option Shares.  The Option shall remain exercisable by the
Participant through the earlier of (A) the expiration of the Option Period or
(B) ninety (90) days following the date the Option becomes vested as to 100% of
the Options Shares.

 

(e)                                  Compliance
with Legal Requirements.  The
granting and exercising of the Option, and any other obligations of the Company
under this Agreement shall be subject to all applicable federal and state laws,
rules and regulations and to such approvals by any regulatory or governmental
agency as may be required.  The
Committee, in its sole discretion, may postpone the issuance or delivery of
Option Shares as the Committee may consider appropriate and may require the
Participant to make such representations and furnish such information as it may
consider appropriate in connection

 

3

 

with the issuance or
delivery of Option Shares in compliance with applicable laws, rules and
regulations.

 

(f)                                    Transferability.  The Option shall not be transferable by the Participant
other than by will or the laws of descent and distribution.

 

(g)                                 Rights
as Stockholder.  The Participant
shall not be deemed for any purpose to be the owner of any shares of Common
Stock subject to this Option unless, until and to the extent that (i) this
Option shall have been exercised pursuant to its terms, (ii) the Company shall
have issued and delivered to the Participant the Option Shares, and (iii) the
Participant’s name shall have been entered as a stockholder of record with
respect to such Option Shares on the books of the Company.

 

(h)                                 Tax
Withholding.  Prior to the delivery
of a certificate or certificates representing the Option Shares, the
Participant must pay in the form of a certified check to the Company any such
additional amount as the Company determines that it is required to withhold
under applicable federal, state or local tax laws in respect of the exercise or
the transfer of Option Shares; provided that the Committee may, in its
sole discretion, allow such withholding obligation to be satisfied by any other
method described in Section 12(d) of the Plan.

 

4.                                       Miscellaneous.

 

(a)                                  Notices.  All notices, demands and other
communications provided for or permitted hereunder shall be made in writing and
shall be by registered or certified first-class mail, return receipt requested,
telecopier, courier service or personal delivery:

 

if to the Company:

 

Las Vegas Sands, Inc.

3355 Las Vegas Boulevard South

Las Vegas, Nevada 89109

Attn: General Counsel

 

With a copy to:

 

Charles D. Forman

Director, Member of the Compensation Committee

300 First Avenue

Needham, Massachusetts 02494

 

if to the Participant, at
the Participant’s last known address on file with the Company.

 

All such notices, demands
and other communications shall be deemed to have been duly given when delivered
by hand, if personally delivered; when delivered by courier, if delivered by
commercial courier service; five (5) business days after being deposited in

 

4

 

the mail, postage
prepaid, if mailed; and when receipt is mechanically acknowledged, if
telecopied.

 

(b)                                 Severability.  The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, and each other provision of this
Agreement shall be severable and enforceable to the extent permitted by law.

 

(c)                                  No
Rights to Employment.  Nothing
contained in this Agreement shall be construed as giving the Participant any
right to be retained, in any position, as an employee, consultant or director
of the Company or its Affiliates or shall interfere with or restrict in any way
the right of the Company or its Affiliates, which are hereby expressly
reserved, to remove, terminate or discharge the Participant at any time for any
reason whatsoever.

 

(d)                                 Bound
by Plan.  By signing this Agreement,
the Participant acknowledges that he has received a copy of the Plan and has
had an opportunity to review the Plan and agrees to be bound by all the terms
and provisions of the Plan.

 

(e)                                  Beneficiary.  The Participant may file with the Committee
a written designation of a beneficiary on such form as may be prescribed by the
Committee and may, from time to time, amend or revoke such designation.  If no designated beneficiary survives the
Participant, the executor or administrator of the Participant’s estate shall be
deemed to be the Participant’s beneficiary.

 

(f)                                    Successors.  The terms of this Agreement shall be binding
upon and inure to the benefit of the Company and its successors and assigns,
and of the Participant and the beneficiaries, executors, administrators, heirs
and successors of the Participant.

 

(g)                                 Entire
Agreement.  This Agreement and the
Plan contain the entire agreement and understanding of the parties hereto with
respect to the subject matter contained herein and supersede all prior
communications, representations and negotiations in respect thereto.  No change, modification or waiver of any
provision of this Agreement shall be valid unless the same be in writing and
signed by the parties hereto.  The
Participant agrees and acknowledges that this Agreement supersedes all prior
stock option agreements between the Participant and the Company, and that all
such prior agreements are void and unenforceable.

 

(h)                                 Governing
Law.  This Agreement shall be construed and interpreted in accordance
with the laws of the State of Nevada without regard to principles of conflicts
of law thereof, or principals of conflicts of laws of any other jurisdiction
which could cause the application of the laws of any jurisdiction other than
the State of Nevada.

 

5

 

(i)                                     Headings.  The headings of the Sections hereof are
provided for convenience only and are not to serve as a basis for
interpretation or construction, and shall not constitute a part, of this
Agreement.

 

(j)                                     Signature
in Counterparts.  This Agreement 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.

 

[Remainder of page intentionally left
blank; signature page to follow]

 

6

 

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

 

	
   

  	
  Las Vegas Sands Corp.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [ Name of Participant]

  

 

 

[Signature Page to Nonqualified Stock Option Agreement]

 

 

Exhibit
A

 

NOTICE OF OPTION EXERCISE

 

PURSUANT
TO THE LAS VEGAS SANDS CORP.

2004 EQUITY AWARD PLAN

 

To exercise your option to purchase shares of Las
Vegas Sands Corp. (the “Company”) 
Common Stock (“Shares”), please fill out this form and return it to the
General Counsel of the Company, together with either a certified check in the
amount of the exercise price due, which is the product of the number
of Shares with respect to which you are exercising the Option and the per share
exercise price, or shares of Common Stock with a Fair Market Value equal to the exercise
price due.  You are not
required to exercise your option with respect to all Shares thereunder.  You also must include, as applicable, either
a certified check in the amount of any required payroll taxes and income tax
withholding due in connection with your exercise or shares of Common Stock with
a Fair Market Value equal to the amount of any required payroll taxes and
income tax withholding due in connection with your exercise, unless the
Committee administering the Las Vegas Sands Corp. 2004 Equity Award Plan
specifically provides for such obligation to be satisfied in a different
manner.

 

I
hereby exercise my right to purchase
            Shares under
the option granted to me pursuant to the Nonqualified Stock Option Agreement
between myself and the Company, dated as of December     ,
2004.  I am vested in my option as to
the Shares being purchased hereunder.  I
have enclosed either (a) one or more certified checks covering both the
exercise price of
$                  
and the required payroll taxes and income tax withholding of
$                 
or (b) shares of Common Stock with a Fair Market Value equal to both the
exercise price of $                 
and, if so permitted by the Committee the required payroll taxes and income tax
withholding of
$                 
(if not so permitted, please enclose a certified check for the
withholding).  (Please contact the
office of the General Counsel of the Company to determine the amount of any
required payroll taxes and income tax withholding.)  I hereby represent that, to the best of my knowledge and belief,
I am legally entitled to exercise this Option.

 

	
  Signature:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Printed Name:

  	
   

  	
   

  	
   

  

 

A-1

 

	
  Social Security Number:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
   

  

 

A-2

 

Las Vegas Sands Corp.

2004 EQUITY AWARD PLAN

 

NONQUALIFIED STOCK OPTION AGREEMENT

 

THIS NONQUALIFIED STOCK
OPTION AGREEMENT (the “Agreement”), dated as of
December     , 2004 (the “Date of Grant”), is
made by and between Las Vegas Sands Corp., a Nevada corporation (the “Company”),
and
                        
(the “Participant”).

 

R
E
C
I
T
A
L
S:

 

WHEREAS, the Company has
adopted the Las Vegas Sands Corp. 2004 Equity Award Plan (the “Plan”),
pursuant to which options may be granted to purchase shares of the Company’s
Common Stock; and

 

WHEREAS, the Compensation
Committee of the Board of Directors of the Company (the “Committee”) has
determined that it is in the best interests of the Company and its stockholders
to grant to the Participant a nonqualified stock option to purchase the number
of shares of the Company’s Common Stock provided for herein.

 

NOW, THEREFORE, for and
in consideration of the premises and the covenants of the parties contained in
this Agreement, and for other good and valuable consideration, the receipt of
which is hereby acknowledged, the parties hereto, for themselves, their
successors and assigns, hereby agree as follows:

 

1.                                       Grant of Option.

 

The
Company hereby grants on the Date of Grant to the Participant an option (the “Option”)
to purchase         shares of Common Stock
(such shares of Common Stock, the “Option Shares”), on the terms and
conditions set forth in this Agreement and as otherwise provided in the
Plan.  The Option is not intended to
qualify as an incentive stock option within the meaning of Section 422 of
the Code.

 

2.                                       Incorporation by Reference, Etc.

 

The
provisions of the Plan are hereby incorporated herein by reference.  Except as otherwise expressly set forth
herein, this Agreement shall be construed in accordance with the provisions of
the Plan and any capitalized terms not otherwise defined in this Agreement
shall have the definitions set forth in the Plan.  The Committee shall have final authority to interpret and
construe the Plan and this Agreement and to make any and all determinations
under them, and its decision shall be binding and conclusive upon the
Participant and his legal representative in respect of any questions arising
under the Plan or this Agreement.

 

 

3.                                       Terms and Conditions.

 

(a)                                  Option Price. 
The price at which the Participant shall be entitled to purchase the
Option Shares upon the exercise of all or any portion of the Option shall be
$              
per Option Share.

 

(b)                                 Expiration Date. 
Subject to Section 3(d) hereof, the Option shall expire at the end
of the period commencing on the Date of Grant and ending at 11:59 p.m. Eastern
Standard Time on the day preceding the tenth anniversary of the Date of Grant
(the “Option Period”).

 

(c)                                  Exercisability of the Option.

 

(i)                                     Subject
to the Participant’s continued employment with the Company or an Affiliate and
except as may otherwise be provided herein, the Option shall become vested and
exercisable as to twenty-five percent (25%) of the Option Shares on each of the
first through fourth anniversaries of the Date of Grant.

 

(ii)                                  The
Option may be exercised only by written notice, substantially in the form
attached hereto as Exhibit A (or a successor form provided by the
Committee) delivered in person or by mail in accordance with Section 6(a)
hereof and accompanied by payment therefor. 
The purchase price of the Option Shares shall be paid by the Participant
to the Company (i) in cash and/or shares of Common Stock valued at the Fair
Market Value at the time the Option is exercised (including by means of
attestation of ownership of a sufficient number of shares of Stock in lieu of
actual delivery of such shares to the Company); provided, that, if
deemed necessary by the Company’s independent accounting firm in order to avoid
an accounting charge to earnings for compensation on account of the exercise of
the Option, such shares of Stock shall be Mature Shares, (ii) in the discretion
of the Committee, either (A) in other property having a fair market value on
the date of exercise equal to the Option Price or (B) by delivering to the
Committee a copy of irrevocable instructions to a stockbroker to deliver
promptly to the Company an amount of loan proceeds, or proceeds from the sale
of the Option Shares, sufficient to pay the Option Price or (iii) by such other
method as the Committee may allow in writing. 
Notwithstanding the foregoing, in no event shall a Participant be
permitted to exercise an Option in the manner described in clause (ii) or (iii)
of the preceding sentence if the Committee determines that exercising an Option
in such manner would violate the Sarbanes-Oxley Act of 2002, as amended, or any
other applicable law or the applicable rules and regulations of the Securities
and Exchange Commission or the applicable rules and regulations of any securities
exchange or inter dealer quotation system on which the securities of the
Company or any Affiliates are listed or traded.

 

(d)                                 Effect of Termination of Employment
on the Option.

 

(i)                                     Death/Disability.  If the Participant’s employment with the
Company and its Affiliates terminates on account of the Participant’s death or
by the Company or any Affiliate due to Disability, the unvested portion of the
Option shall

 

2

 

expire on the date of termination and the vested portion of the Option
shall remain exercisable by the Participant through the earlier of (A) the
expiration of the Option Period or (B) one year following the date of
termination on account of death or Disability.

 

(ii)                                  Termination
Other than due to Death/Disability or for Cause.  If the Participant’s
employment with the Company and its Affiliates is terminated for any reason
other than on account of the Participant’s death or by the Company or
any Affiliate due to Disability or for Cause, the unvested portion of the Option shall expire on the date of
termination and the vested portion of the Option shall remain exercisable by
the Participant through the earlier of (A) the expiration of the Option Period
or (B) ninety (90) days following such termination.

 

(iii)                               Termination for Cause.  If the Participant’s employment with the
Company and its Affiliates is terminated by the Company or any Affiliate for
Cause, both the unvested and the vested portions of the Option shall terminate
on the date of such termination.

 

(e)                                  Compliance with Legal Requirements. 
The granting and exercising of the Option, and any other obligations of
the Company under this Agreement shall be subject to all applicable federal and
state laws, rules and regulations and to such approvals by any regulatory or
governmental agency as may be required. 
The Committee, in its sole discretion, may postpone the issuance or
delivery of Option Shares as the Committee may consider appropriate and may require
the Participant to make such representations and furnish such information as it
may consider appropriate in connection with the issuance or delivery of Option
Shares in compliance with applicable laws, rules and regulations.

 

(f)                                    Transferability. 
The Option shall not be transferable by the Participant other than by
will or the laws of descent and distribution.

 

(g)                                 Rights as Stockholder. 
The Participant shall not be deemed for any purpose to be the owner of
any shares of Common Stock subject to this Option unless, until and to the
extent that (i) this Option shall have been exercised pursuant to its terms,
(ii) the Company shall have issued and delivered to the Participant the Option
Shares, and (iii) the Participant’s name shall have been entered as a
stockholder of record with respect to such Option Shares on the books of the
Company.

 

(h)                                 Tax Withholding. 
Prior to the delivery of a certificate or certificates representing the
Option Shares, the Participant must pay in the form of a certified check to the
Company any such additional amount as the Company determines that it is
required to withhold under applicable federal, state or local tax laws in
respect of the exercise or the transfer of Option Shares; provided that
the Committee may, in its sole discretion, allow such withholding obligation to
be satisfied by any other method described in Section 12(d) of the Plan.

 

3

 

4.                                       Miscellaneous.

 

(a)                                  Notices. 
All notices, demands and other communications provided for or permitted
hereunder shall be made in writing and shall be by registered or certified
first-class mail, return receipt requested, telecopier, courier service or
personal delivery:

 

if to the Company:

Las Vegas Sands, Inc.

3355 Las Vegas Boulevard South

Las Vegas, Nevada 89109

Attn: General Counsel

 

With a copy to:

 

Charles D. Forman

Director, Member of the Compensation Committee

300 First Avenue

Needham, Massachusetts 02494

 

if to the Participant, at the Participant’s last known
address on file with the Company.

 

All such notices, demands
and other communications shall be deemed to have been duly given when delivered
by hand, if personally delivered; when delivered by courier, if delivered by
commercial courier service; five (5) business days after being deposited in the
mail, postage prepaid, if mailed; and when receipt is mechanically
acknowledged, if telecopied.

 

(b)                                 Severability. 
The invalidity or unenforceability of any provision of this Agreement
shall not affect the validity or enforceability of any other provision of this
Agreement, and each other provision of this Agreement shall be severable and
enforceable to the extent permitted by law.

 

(c)                                  No Rights to Employment. 
Nothing contained in this Agreement shall be construed as giving the
Participant any right to be retained, in any position, as an employee,
consultant or director of the Company or its Affiliates or shall interfere with
or restrict in any way the right of the Company or its Affiliates, which are
hereby expressly reserved, to remove, terminate or discharge the Participant at
any time for any reason whatsoever.

 

(d)                                 Bound by Plan. 
By signing this Agreement, the Participant acknowledges that he has
received a copy of the Plan and has had an opportunity to review the Plan and
agrees to be bound by all the terms and provisions of the Plan.

 

(e)                                  Beneficiary. 
The Participant may file with the Committee a written designation of a
beneficiary on such form as may be prescribed by the Committee

 

4

 

and
may, from time to time, amend or revoke such designation.  If no designated beneficiary survives the
Participant, the executor or administrator of the Participant’s estate shall be
deemed to be the Participant’s beneficiary.

 

(f)                                    Successors. 
The terms of this Agreement shall be binding upon and inure to the
benefit of the Company and its successors and assigns, and of the Participant
and the beneficiaries, executors, administrators, heirs and successors of the
Participant.

 

(g)                                 Entire Agreement. 
This Agreement and the Plan contain the entire agreement and
understanding of the parties hereto with respect to the subject matter
contained herein and supersede all prior communications, representations and
negotiations in respect thereto.  No change,
modification or waiver of any provision of this Agreement shall be valid unless
the same be in writing and signed by the parties hereto.  The Participant agrees and acknowledges that
this Agreement supersedes all prior stock option agreements between the
Participant and the Company, and that all such prior agreements are void and
unenforceable.

 

(h)                                 Governing Law.  This Agreement shall be
construed and interpreted in accordance with the laws of the State of Nevada
without regard to principles of conflicts of law thereof, or principals of conflicts
of laws of any other jurisdiction which could cause the application of the laws
of any jurisdiction other than the State of Nevada.

 

(i)                                     Headings. 
The headings of the Sections hereof are provided for convenience only
and are not to serve as a basis for interpretation or construction, and shall
not constitute a part, of this Agreement.

 

(j)                                     Signature in Counterparts. 
This Agreement 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.

 

[Remainder of page
intentionally left blank; signature page to follow]

 

5

 

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

 

	
   

  	
  Las Vegas Sands Corp.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [ Name of Participant]

  
						

 

[Signature Page to Nonqualified Stock
Option Agreement]

 

 

Exhibit
A

 

NOTICE OF OPTION EXERCISE

 

PURSUANT
TO THE LAS VEGAS SANDS CORP.

2004 EQUITY AWARD PLAN

 

To exercise your option to purchase shares of Las
Vegas Sands Corp. (the “Company”) 
Common Stock (“Shares”), please fill out this form and return it to the
General Counsel of the Company, together with either a certified check in the
amount of the exercise price due, which is the product of the number
of Shares with respect to which you are exercising the Option and the per share
exercise price, or shares of Common Stock with a Fair Market Value equal to the exercise
price due.  You are not required
to exercise your option with respect to all Shares thereunder.  You also must include, as applicable, either
a certified check in the amount of any required payroll taxes and income tax
withholding due in connection with your exercise or shares of Common Stock with
a Fair Market Value equal to the amount of any required payroll taxes and
income tax withholding due in connection with your exercise, unless the
Committee administering the Las Vegas Sands Corp. 2004 Equity Award Plan
specifically provides for such obligation to be satisfied in a different
manner.

 

I
hereby exercise my right to purchase      Shares under the
option granted to me pursuant to the Nonqualified Stock Option Agreement
between myself and the Company, dated as of December    ,
2004.  I am vested in my option as to
the Shares being purchased hereunder.  I
have enclosed either (a) one or more certified checks covering both the
exercise price of $        and the required
payroll taxes and income tax withholding of
$        or (b) shares of Common Stock with
a Fair Market Value equal to both the exercise price of
$        and, if so permitted by the
Committee the required payroll taxes and income tax withholding of
$        (if not so permitted, please
enclose a certified check for the withholding).  (Please contact the office of the General Counsel of the Company
to determine the amount of any required payroll taxes and income tax
withholding.)  I hereby represent that,
to the best of my knowledge and belief, I am legally entitled to exercise this
Option.

 

	
   

  	
  Signature:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Printed Name:

  	
   

  	
   

  	
   

  

 

A-1

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Social Security Number:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
   

  	
   

  	
   

  

 

A-2

 

Las Vegas Sands Corp.

2004 EQUITY AWARD PLAN

 

NONQUALIFIED STOCK OPTION AGREEMENT

 

THIS NONQUALIFIED STOCK
OPTION AGREEMENT (the “Agreement”), dated as of
December    , 2004 (the “Date of Grant”), is made by
and between Las Vegas Sands Corp., a Nevada corporation (the “Company”),
and             
(the “Participant”).

 

R
E
C
I
T
A
L
S:

 

WHEREAS, the Company has
adopted the Las Vegas Sands Corp. 2004 Equity Award Plan (the “Plan”),
pursuant to which each Non-Employee Director is granted an option to purchase
shares of the Company’s Common Stock.

 

NOW, THEREFORE, for and
in consideration of the premises and the covenants of the parties contained in
this Agreement, and for other good and valuable consideration, the receipt of
which is hereby acknowledged, the parties hereto, for themselves, their
successors and assigns, hereby agree as follows:

 

1                                          Grant of Option.

 

The
Company hereby grants on the Date of Grant to the Participant an option (the “Option”)
to purchase     shares of Common Stock (such shares of Common
Stock, the “Option Shares”), on the terms and conditions set forth in
this Agreement and as otherwise provided in the Plan.  The Option is not intended to qualify as an incentive stock
option within the meaning of Section 422 of the Code.

 

2.                                       Incorporation by Reference, Etc.

 

The
provisions of the Plan are hereby incorporated herein by reference.  Except as otherwise expressly set forth
herein, this Agreement shall be construed in accordance with the provisions of
the Plan and any capitalized terms not otherwise defined in this Agreement
shall have the definitions set forth in the Plan.  The Board shall have final authority to interpret and construe
the Plan and this Agreement and to make any and all determinations under them,
and its decision shall be binding and conclusive upon the Participant and his
legal representative in respect of any questions arising under the Plan or this
Agreement.

 

3.                                       Terms and Conditions.

 

(a)                                  Option Price. 
The price at which the Participant shall be entitled to purchase the
Option Shares upon the exercise of all or any portion of the Option shall be
$           per Option Share.

 

 

(b)                                 Expiration Date. 
Subject to Section 3(d) hereof, the Option shall expire at the end
of the period commencing on the Date of Grant and ending at 11:59 p.m. Eastern
Standard Time on the day preceding the tenth anniversary of the Date of Grant
(the “Option Period”).

 

(c)                                  Exercisability of the Option.

 

(i)                                     Subject
to the Participant’s continued service as a Non-Employee Director of the
Company and except as may otherwise be provided herein, the Option shall become
vested and exercisable as to twenty percent (20%) of the option Shares on each
of the first, second, third, fourth, and fifth anniversaries of the Date of
Grant.

 

(ii)                                  The
Option may be exercised only by written notice, substantially in the form
attached hereto as Exhibit A (or a successor form provided by the Board)
delivered in person or by mail in accordance with Section 6(a) hereof and
accompanied by payment therefor.  The
purchase price of the Option Shares shall be paid by the Participant to the
Company (i) in cash and/or shares of Common Stock valued at the Fair Market
Value at the time the Option is exercised (including by means of attestation of
ownership of a sufficient number of shares of Stock in lieu of actual delivery
of such shares to the Company); provided, that, if deemed necessary by
the Company’s independent accounting firm in order to avoid an accounting
charge to earnings for compensation on account of the exercise of the Option,
such shares of Stock shall be Mature Shares, (ii) in the discretion of the
Board, either (A) in other property having a fair market value on the date of
exercise equal to the Option Price or (B) by delivering to the Board a copy of
irrevocable instructions to a stockbroker to deliver promptly to the Company an
amount of loan proceeds, or proceeds from the sale of the Option Shares,
sufficient to pay the Option Price or (iii) by such other method as the Board
may allow in writing.  Notwithstanding
the foregoing, in no event shall a Participant be permitted to exercise an
Option in the manner described in clause (ii) or (iii) of the preceding
sentence if the Board determines that exercising an Option in such manner would
violate the Sarbanes-Oxley Act of 2002, as amended, or any other applicable law
or the applicable rules and regulations of the Securities and Exchange
Commission or the applicable rules and regulations of any securities exchange
or inter dealer quotation system on which the securities of the Company or any
Affiliates are listed or traded.

 

(d)                                 Effect of Cessation of Service
Relationship on the Option.  If the
Participant’s service as a Non-Employee Director of the Company ceases due to
the death of the Participant, the Option shall become
vested and exercisable on the date of such cessation as to 100% of the Option
Shares.  If the Participant’s service as
a Non-Employee Director of the Company ends for any other reason,
the unvested portion of the Option shall terminate on the date of such
cessation.  The Option, to the extent
vested, shall remain exercisable by the Participant through the earlier of (A)
the expiration of the Option Period, (B) one year following the date of
cessation of service on account of the Participant’s death, or (C) three months
after the date of cessation of service for any other reason.

 

(e)                                  Compliance with Legal Requirements. 
The granting and exercising of the Option,

 

2

 

and
any other obligations of the Company under this Agreement shall be subject to
all applicable federal and state laws, rules and regulations and to such
approvals by any regulatory or governmental agency as may be required.  The Board, in its sole discretion, may
postpone the issuance or delivery of Option Shares as the Board may consider
appropriate and may require the Participant to make such representations and
furnish such information as it may consider appropriate in connection with the
issuance or delivery of Option Shares in compliance with applicable laws, rules
and regulations.

 

(f)                                    Transferability. 
The Option shall not be transferable by the Participant other than by
will or the laws of descent and distribution.

 

(g)                                 Rights as Stockholder. 
The Participant shall not be deemed for any purpose to be the owner of
any shares of Common Stock subject to this Option unless, until and to the
extent that (i) this Option shall have been exercised pursuant to its terms,
(ii) the Company shall have issued and delivered to the Participant the Option
Shares, and (iii) the Participant’s name shall have been entered as a
stockholder of record with respect to such Option Shares on the books of the
Company.

 

(h)                                 Tax Withholding. 
Prior to the delivery of a certificate or certificates representing the Option
Shares, the Participant must pay in the form of a certified check to the
Company any such additional amount as the Company determines that it is
required to withhold under applicable federal, state or local tax laws in
respect of the exercise or the transfer of Option Shares; provided that
the Board may, in its sole discretion, allow such withholding obligation to be
satisfied by any other method described in Section 12(d) of the Plan.

 

4.                                       Miscellaneous.

 

(a)                                  Notices. 
All notices, demands and other communications provided for or permitted
hereunder shall be made in writing and shall be by registered or certified
first-class mail, return receipt requested, telecopier, courier service or
personal delivery:

 

if to the Company:

Las Vegas Sands, Inc.

3355 Las Vegas Boulevard South

Las Vegas, Nevada 89109

Attn: General Counsel

 

if to the Participant, at the Participant’s last known
address on file with the Company.

 

All such notices, demands
and other communications shall be deemed to have been duly given when delivered
by hand, if personally delivered; when delivered by courier, if delivered by
commercial courier service; five (5) business days after being deposited in the
mail, postage prepaid, if mailed; and when receipt is mechanically
acknowledged, if telecopied.

 

3

 

(b)                                 Severability. 
The invalidity or unenforceability of any provision of this Agreement
shall not affect the validity or enforceability of any other provision of this
Agreement, and each other provision of this Agreement shall be severable and
enforceable to the extent permitted by law.

 

(c)                                  No Rights to Employment or Service
Relationship.  Nothing contained in this Agreement shall be
construed as giving the Participant any right to be retained, in any position,
as an employee, consultant or director of the Company or its Affiliates or
shall interfere with or restrict in any way the right of the Company or its
Affiliates, which are hereby expressly reserved, to remove, terminate or
discharge the Participant at any time for any reason whatsoever.

 

(d)                                 Bound by Plan. 
By signing this Agreement, the Participant acknowledges that he has
received a copy of the Plan and has had an opportunity to review the Plan and
agrees to be bound by all the terms and provisions of the Plan.

 

(e)                                  Beneficiary. 
The Participant may file with the Board a written designation of a
beneficiary on such form as may be prescribed by the Board and may, from time
to time, amend or revoke such designation. 
If no designated beneficiary survives the Participant, the executor or
administrator of the Participant’s estate shall be deemed to be the
Participant’s beneficiary.

 

(f)                                    Successors. 
The terms of this Agreement shall be binding upon and inure to the
benefit of the Company and its successors and assigns, and of the Participant
and the beneficiaries, executors, administrators, heirs and successors of the
Participant.

 

(g)                                 Entire Agreement. 
This Agreement and the Plan contain the entire agreement and
understanding of the parties hereto with respect to the subject matter
contained herein and supersede all prior communications, representations and
negotiations in respect thereto.  No
change, modification or waiver of any provision of this Agreement shall be
valid unless the same be in writing and signed by the parties hereto.  The Participant agrees and acknowledges that
this Agreement supersedes all prior stock option agreements between the
Participant and the Company, and that all such prior agreements are void and
unenforceable.

 

(h)                                 Governing Law.  This Agreement shall be
construed and interpreted in accordance with the laws of the State of Nevada
without regard to principles of conflicts of law thereof, or principals of
conflicts of laws of any other jurisdiction which could cause the application
of the laws of any jurisdiction other than the State of Nevada.

 

(i)                                     Headings. 
The headings of the Sections hereof are provided for convenience only
and are not to serve as a basis for interpretation or construction, and shall
not constitute a part, of this Agreement.

 

4

 

(j)                                     Signature in Counterparts. 
This Agreement 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.

 

[Remainder of page
intentionally left blank; signature page to follow]

 

5

 

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

 

	
   

  	
  Las Vegas Sands Corp.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [ Name of Participant]

  
						

 

 

[Signature Page to
Nonqualified Stock Option Agreement]

 

 

Exhibit
A

 

NOTICE OF OPTION EXERCISE

 

PURSUANT
TO THE LAS VEGAS SANDS CORP.

2004 EQUITY AWARD PLAN

 

To exercise your option to purchase shares of Las
Vegas Sands Corp. (the “Company”) 
Common Stock (“Shares”), please fill out this form and return it to the
General Counsel of the Company, together with either a certified check in the
amount of the exercise price due, which is the product of the number
of Shares with respect to which you are exercising the Option and the per share
exercise price, or shares of Common Stock with a Fair Market Value equal to the exercise
price due.  You are not required
to exercise your option with respect to all Shares thereunder.  You also must include, as applicable, either
a certified check in the amount of any required payroll taxes and income tax
withholding due in connection with your exercise or shares of Common Stock with
a Fair Market Value equal to the amount of any required payroll taxes and
income tax withholding due in connection with your exercise, unless the Board
specifically provides for such obligation to be satisfied in a different
manner.

 

I
hereby exercise my right to purchase      Shares under the
option granted to me pursuant to the Nonqualified Stock Option Agreement
between myself and the Company, dated as of December   , 2004.  I am vested in my option as to the Shares
being purchased hereunder.  I have
enclosed either (a) one or more certified checks covering both the exercise
price of $        and the required payroll
taxes and income tax withholding of $       
or (b) shares of Common Stock with a Fair Market Value equal to both the
exercise price of $        and, if so
permitted by the Board the required payroll taxes and income tax withholding of
$        (if not so permitted, please
enclose a certified check for the withholding).  (Please contact the office of the General Counsel of the Company
to determine the amount of any required payroll taxes and income tax
withholding.)  I hereby represent that,
to the best of my knowledge and belief, I am legally entitled to exercise this
Option.

 

	
  Signature:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Printed Name:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Social Security Number:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
   

  

 

A-1Exhibit 10.1

 

COURIER CORPORATION

 

Incentive Stock Option Agreement

 

This
Agreement made as of this         day
of                     ,
200  , by and between Courier Corporation, a Massachusetts
corporation (the “Company”) and                     
(the “Optionee”)

 

WITNESSETH THAT:

 

WHEREAS,
the Company has instituted a program entitled “Courier Corporation 1993 Amended
and Restated Stock Incentive Plan” (the “Plan”); and

 

WHEREAS,
the Board of Directors of the Company (the “Board”) has authorized the grant of
stock options upon certain terms and conditions set forth below; and

 

WHEREAS,
the Board has authorized the grant of this stock option pursuant and subject to
the terms of the Plan, a copy of which is attached hereto and incorporated
herein; and

 

WHEREAS,
the Board has designated this stock option an incentive stock option in
accordance with Section 5 of the Plan;

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants and
agreements herein contained, the Company and the parties hereto agree as
follows:

 

1.                                       Grant.  Pursuant and subject to the Plan, the Company
does hereby grant unto the Optionee a stock option (the “Option”) to purchase
from the Company              shares
of its Common Stock (“Stock”) upon the terms and conditions set forth in the
Plan and upon the additional terms and conditions contained herein.  This Option is intended to constitute an “incentive
stock option” within the meaning of Section 422 of the Internal Revenue
Code of 1986, as amended (the “Code”).

 

2.                                       Option
Price.  This Option may be exercised
at the option price of $         per
share of Stock, subject to adjustment as provided herein and in the Plan.

 

3.                                       Term
and Exercisability of Option.  This
Option shall expire on                            , 20    
and be exercisable in accordance with and subject to the conditions set forth
on the attached Schedule A.

 

4.                                       Method
of Exercise.  To the extent that the
right to purchase shares of Stock has accrued hereunder, this Option may be
exercised from time to time by written notice to the Company stating the number
of shares with respect to which this Option is being exercised, and accompanied
by payment acceptable to the Company in accordance with Section 5(c) of
the Plan.

 

 

As soon as practicable
after its receipt of such notice, the Company shall, without transfer or issue
tax to the Optionee (or other person entitled to exercise this Option), deliver
the shares to the Optionee (or other person entitled to exercise this Option),
either electronically or by means of a stock certificate; provided, however,
that the time of such delivery may be postponed by the Company for such period
as may be required for it with reasonable diligence to comply with any
applicable requirements of law.  Payment
of the option price may be made in cash or cash equivalents or in whole or in
part in shares of Stock or by means of a “cashless exercise” procedure with a
broker, all in accordance with the terms and conditions of Section 5(c) of
the Plan; provided, however, that the Board reserves the right upon receipt of
any written notice of exercise from the Optionee to require payment in cash
with respect to the shares contemplated in such notice.  If the Optionee (or other person entitled to
exercise this Option) fails to pay for and accept delivery of all of the shares
specified in such notice upon tender of delivery thereof, his/her right to
exercise this Option with respect to such shares not paid for may be terminated
by the Company.

 

5.                                       Non-assignability
of Option.  This Option shall not be
assignable or transferable by the Optionee except by will or by the laws of
descent and distribution.  During the
life of the Optionee, this Option shall be exercisable only by him/her.

 

6.                                       Compliance
with Securities Act.  The Company
shall not be obligated to sell or issue any shares of stock or other securities
pursuant to the exercise of this Option unless the shares of stock or other
securities with respect to which this Option is being exercised are at that
time effectively registered or exempt from registration under the Securities
Act of 1933, as amended, and applicable state securities laws.  In the event shares or other securities shall
be issued which shall not be so registered, the Optionee hereby represents,
warrants and agrees that he/she will receive such shares or other securities
for investment and not with a view to their resale or distribution, and will
execute an appropriate investment letter satisfactory to the Company and its
counsel.

 

7.                                       Rights
as Stockholder.  The Optionee shall
have no rights as a stockholder with respect to any shares covered by this
Option until the date of issuance of such shares to him/her either
electronically or by means of a stock certificate.  No adjustment shall be made for dividends or
other rights for which the record date is prior to the date such shares are
issued.

 

8.                                       Termination
or Amendment of Plan.  The Board may
terminate or amend the Plan at any time. 
No such termination or amendment will affect rights and obligations
under this Option, to the extent it is then in effect and unexercised.

 

9.                                       Effect
Upon Employment.  Nothing in this
Option or the Plan shall be construed to impose any obligations upon the
Company to retain the Optionee in its employ.

 

10.                                 Time
for Acceptance.  Unless the Optionee
shall evidence his/her acceptance of this Option by execution of this Agreement
within ten (10) days after its delivery to him/her, the Option and this
Agreement shall be null and void.

 

 

11.                                 Qualification
as Incentive Stock Option.  It is
understood and intended that this Option is intended to qualify as an “incentive
stock option” as defined in Section 422 of the Code to the extent
permitted under applicable law. 
Accordingly, the Optionee understands that in order to obtain the
benefits of an incentive stock option under Section 422 of the Code, no
sale or other disposition may be made of shares for which incentive stock
option treatment is desired within the one-year period beginning on the day
after the day of the transfer of such shares to him/her upon the exercise of
the Option, nor within the two-year period beginning on the day after the grant
of this Option.  If the Optionee disposes
(whether by sale, gift, transfer or otherwise) of any such shares within either
of these periods, he/she will notify the Company within 30 days after such
disposition.  The Optionee also agrees to
provide the Company with any information concerning any such dispositions
required by the Company for tax purposes.

 

12.                                 General
Provisions.

 

(a)                                  Amendment;
Waivers.  This Agreement, including
the Plan, contains the full and complete understanding and agreement of the
parties hereto as to the subject matter hereof and may not be modified or
amended, nor may any provision hereof be waived, except by a further written
agreement duly signed by each of the parties. 
The waiver by either of the parties hereto of any provision hereof in
any instance shall not operate as a waiver of any other provision hereof or in
any other instance.

 

(b)                                 Binding
Effect.  This Agreement shall inure
to the benefit of and be binding upon the parties hereto and their respective
heirs, executors, administrators, representatives, successors and assigns.

 

(c)                                  Governing
Law.  This Agreement has been
executed in Massachusetts and shall be governed by and construed in accordance
with the law of The Commonwealth of Massachusetts.

 

(d)                                 Construction.  This Agreement is to be construed in
accordance with the terms of the Plan. 
In case of any conflict between the Plan and this Agreement, the Plan
shall control.  The titles of the
sections of this Agreement and of the Plan are included for convenience only
and shall not be construed as modifying or affecting their provisions.  The masculine gender shall include both
sexes; the singular shall include the plural and the plural the singular unless
the context otherwise requires.

 

(e)                                  Notices.  Any notice in connection with this Agreement
shall be deemed to have been properly delivered if it is in writing and is
delivered in hand or sent by registered mail, postage prepaid, to the party
addressed as follows, unless another address has been substituted by notice so
given:

 

To the Optionee:                                                      To
his/her address as set forth on the signature page thereof.

 

To the Company:                                                    Courier
Corporation

15
Wellman Avenue

North
Chelmsford, Massachusetts 01863

 

 

 

Copy to:                                                                                                  Goodwin
Procter LLP

Exchange
Place

Boston,
Massachusetts 02109

 

IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed by its
officer thereunto duly authorized, and its corporate seal to be affixed as of
the date set forth below.

 

	
  Date of grant:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  COURIER
  CORPORATION

  
	
   

  	
   

  	
   

  
	
  (Corporate seal)

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title: Chairman,
  President and CEO

  
	
   

  	
   

  	
   

  
	
  Attest:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Clerk or
  Assistant Clerk

  	
   

  	
   

  
							

 

A C C E P T A N C E

 

I
hereby accept the foregoing Option in accordance with its terms and conditions
and in accordance with the terms and conditions of the Courier Corporation 1993
Amended and Restated Stock Incentive Plan.

 

	
   

  	
   

  	
   

  	
   

  
	
  Date

  	
  (Signature of
  Optionee)*

  
	
   

  	
   

  
	
  Notice Address:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

*Also sign Schedule A

 

 

Schedule A

 

	
   

  	
   

  	
  Percentage of Total Option

  Shares Subject to Exercise

  	
   

  
	
  Date

  	
   

  	
  Incremental

  Amount

  	
   

  	
  Cumulative

  Amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  On or after

  	
   

  	
   

  	
  %

  	
   

  	
  %

  
	
  On or after

  	
   

  	
   

  	
  %

  	
   

  	
  %

  
	
  On or after

  	
   

  	
   

  	
  %

  	
   

  	
  %

  

 

To the
extent that this Option has not become exercisable at the date of the
termination of the Optionee’s employment or other involvement with the Company
or its Subsidiary, it shall expire as of that date.  In the event that before this Option has been
exercised in full, the Optionee ceases to be an employee of the Company or its
Subsidiary for any reason other than his/her discharge for cause, his/her death
or his/her retirement on account of disability, he/she may exercise this Option
to the extent that it had become exercisable on the date of termination of
his/her employment, during the period ending on the earlier of (i) the date on
which the Option expires in accordance with Section 3 of this Agreement or
(ii) three months after the date of termination of the Optionee’s employment
with the Company or its Subsidiary.  In
the event of the death of the Optionee, or his/her retirement on account of
disability, before this Option has been exercised in full, the Optionee or the
personal representative of the Optionee may exercise this Option to the extent
that it had become exercisable on the date of his/her death or his/her
retirement on account of disability, during the period ending on the earlier of
(i) the date on which the Option expires in accordance with Section 3 of
this Agreement or (ii) the first anniversary of the date of the Optionee’s
death or retirement on account of disability.

 

I acknowledge the
foregoing:

 

 

	
   

  	
   

  
	
  (Signature of
  Optionee)

  
	
   

  
	
   

  	
   

  
	
  Date

  
			

 

 

Schedule A

 

	
   

  	
   

  	
  Percentage of Total Option

  Shares Subject to Exercise

  	
   

  
	
  Date

  	
   

  	
  Incremental

  Amount

  	
   

  	
  Cumulative

  Amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  On or after

  	
   

  	
   

  	
  %

  	
   

  	
  %

  
	
  On or after

  	
   

  	
   

  	
  %

  	
   

  	
  %

  
	
  On or after

  	
   

  	
   

  	
  %

  	
   

  	
  %

  

 

To the
extent that this Option has not become exercisable at the date of the
termination of the Optionee’s employment or other involvement with the Company
or its Subsidiary, it shall expire as of that date.  In the event that before this Option has been
exercised in full, the Optionee ceases to be an employee of the Company or its
Subsidiary for any reason other than his/her discharge for cause, his/her death
or his/her retirement on account of disability, he/she may exercise this Option
to the extent that it had become exercisable on the date of termination of
his/her employment, during the period ending on the earlier of (i) the date on
which the Option expires in accordance with Section 3 of this Agreement or
(ii) three months after the date of termination of the Optionee’s employment
with the Company or its Subsidiary.  In
the event of the death of the Optionee, or his/her retirement on account of
disability, before this Option has been exercised in full, the Optionee or the
personal representative of the Optionee may exercise this Option to the extent
that it had become exercisable on the date of his/her death or his/her
retirement on account of disability, during the period ending on the earlier of
(i) the date on which the Option expires in accordance with Section 3 of
this Agreement or (ii) the first anniversary of the date of the Optionee’s
death or retirement on account of disability.

 

Notwithstanding
the preceding paragraph, this Option shall become fully exercisable in the
event of a “Change in Control” of Courier Corporation (“Courier”), as defined
on page 2 of this Schedule A.

 

I acknowledge the
foregoing:

 

 

	
   

  	
   

  
	
  (Signature of
  Optionee)

  
	
   

  
	
   

  	
   

  
	
  Date

  
			

 

 

A Change in Control shall
be deemed to have occurred if:

 

(a)  there is
(i) any consolidation or merger of the Company in which the Company is not the
continuing or surviving corporation or pursuant to which shares of the Company’s
Common Stock would be converted into cash, securities or other property, other
than a merger of the Company in which the holders of the Company’s Common Stock
immediately prior to the merger have the same proportionate ownership of common
stock of the surviving corporation immediately after the merger, or (ii) any
sale, lease, exchange or other transfer (in one transaction or a series of
related transactions) of all, or substantially all, of the assets of the
Company, or

 

(b)  the
stockholders of the Company approve any plan or proposal for the liquidation or
dissolution of the Company, or

 

(c)  any person
(as such term is used in Sections 13(d) and 14(d)(2) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”) other than a trust  related to an employee benefit plan
maintained by the Company becomes the beneficial owner (within the meaning of
Rule 13d-d under the Exchange Act) of 20% or more of the Company’s outstanding
Common Stock, and within the period of 24 consecutive months immediately
thereafter the conditions of paragraph (d) are fulfilled, or

 

(d)  during any
period of 24 consecutive months, individuals other than (i) individuals who at
the beginning of such period constitute the entire Board of Directors or (ii)
individuals whose election, or nomination for election by the Company’s
stockholders, was approved by a vote of at least two-thirds of the directors
then still in office who were directors at the beginning of the period, become
a majority of the Board of Directors.

 

2

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