Document:

EX-10.11

 Exhibit 10.11 

EXECUTION VERSION 
 Work
Agreement #1 
 PROJECT NAME: Sale and Purchase of FFE, Inventory and Supplies 

WORK AGREEMENT (“Work Agreement”) #: 1 
 This
Work Agreement is entered into by and between Studio City Entertainment Limited, Studio City Hotels Limited, Studio City Retail Services Limited, Studio City Developments Limited, Studio City Ventures Limited and Studio City Services Limited (each a
“Studio City WA1 Party” and collectively, the “Studio City WA1 Parties”), on the one hand, and Melco Crown (COD) Hotels Limited, Melco Crown (COD) Developments Limited, Altira Hotel Limited, COD Theatre Limited,
Melco Crown COD (GH) Hotel Limited, Melco Crown (COD) Retail Services Limited, Altira Developments Limited, Melco Crown (Macau) Limited, MPEL Services Limited, Golden Future (Management Services) Limited and MPEL Properties (Macau) Limited (each a
“Melco Crown WA1 Party” and collectively, the “Melco Crown WA1 Parties”), on the other hand. All of the terms and conditions of the Master Services Agreement, dated December 21, 2015, as amended from time
to     time (the “Master Services Agreement”), by and between Studio City Parties (as defined therein) and Melco Crown Parties (as defined therein) are deemed to be incorporated in this Work Agreement. 

 
  
  

	1.	 DEFINITIONS 

For the purposes of this Work Agreement, the following terms shall have the meanings specified in this Section 1:

 “Commencement Date” shall mean the date of execution of this Work Agreement. 

“Delivered Goods” is defined in Section 3.3. 

“FFE” shall mean, per IFRS, items that are capitalized to property, plant and equipment, including fixtures, furniture,
furnishings and equipment together with all replacements therefor and additions thereto, but shall not include Inventory and Supplies. 

“IFRS” shall mean international accounting standards within the meaning of IAS Regulation 1606/2002. 

“Inventory and Supplies” shall mean inventory and stock in trade, per IFRS, including (but not limited to) (i) items
purchased for resale or use in the production of items for sale; 
 (ii) spare parts used for repairs and maintenance; (iii) items
purchased for the resort loyalty club for patron redemption with points; and (iv) food and beverage items from specialist kitchens, but excluding FFE. 

“Ongoing Inventory Arrangement” means an arrangement by which Service Provider maintains a central stock of any Inventory and
Supplies items which may be provided to Service Recipient on an ongoing basis pursuant to a Purchase Order made in accordance with Section 7. 

“Parties” or “Party” means Melco Crown WA1 Parties, any Melco Crown WA1 Party, Studio City WA1 Parties or
any Studio City WA1 Party, as applicable. 

  
 1 

 “Provider Cost” shall mean 105% of the out of pocket costs and expenses
(including any currency and foreign exchange costs) incurred or paid by the Service Provider or Service Recipient, as the case may be, in obtaining the relevant FFE and/or Inventory and Supplies to be resold to the other Party under the relevant
Purchase Order pursuant to this Work Agreement. 
 “Purchase Order” shall mean the document specifying the FFE, Inventory
and Supplies to be provided by the relevant Service Provider pursuant to this Work Agreement, in the form attached hereto as Appendix A or Appendix B (as applicable) or such form (which may be in computer generated form) as agreed by
the Project Managers of each Party. 
 “Quality Standard” shall mean the standard of FFE, Inventory and Supplies maintained
at such other hotel resorts in Macau, with a hotel rating comparable to the applicable Studio City hotel. 
 “Rejected
Goods” is defined in Section 3.3. 
 “Services” means the services described in
Section 2 hereof. 
 “Usage Arrangements” has meaning in Section 2.1
hereof. 
 Capitalized terms not defined herein shall have the meaning set forth in the Master Services Agreement. 

 

	2.	SERVICES 

  

	2.1	Subject to the terms of Section 3 below, each of the Melco Crown WA1 Parties and the Studio City WA1 Parties, in each case acting as a Service Provider, may, from time to time (a) sell
FFE, Inventory and Supplies to or (b) lease to or permit the use of its FFE by on a short term basis, not to exceed one (1) month (“Usage Arrangements”) the Studio City WA1 Parties (in case of the Melco Crown WA1 Parties
acting as Service Provider) or the Melco Crown WA1 Parties (in case of the Studio City WA1 Parties acting as Service Provider), as the case may be, as Service Recipients. 

 

	3.	REQUIREMENTS 

  

	3.1	Subject to agreement by both Service Provider and Service Recipient on the terms of a Purchase Order, Service Provider shall sell such FFE, Inventory and Supplies to Service Recipient and Service Recipient shall
purchase from Service Provider, based on the type, quality and amount as required by Service Recipient pursuant to the relevant Purchase Order; provided, however, that such FFE, Inventory and Supplies shall generally meet the Quality Standard. The
Parties agree that all Purchase Orders issued pursuant to this Section 3.1 shall be deemed to incorporate the following terms and conditions: 

 

	 	(a)	Delivery: 

  

	 	(i)	Service Provider will confirm an estimated delivery date to Service Recipient at the time of Service Provider’s acceptance of the Purchase Order. Delivery times are approximate and based upon conditions at the time
of acceptance of the Purchase Order.    Service Provider will use all commercially reasonable efforts to meet the delivery date(s) as quoted, but will not be liable for any failure to meet such date(s). Partial shipments may be
made. 

  
 2 

	 	(ii)	Unless otherwise specified in an accepted Purchase Order, Service Provider shall deliver the (as the case may be) FFE, Inventory and/or Supplies to Service Recipient at Service Recipient’s premises, whereupon title
to and all risk of loss, damage to or destruction of the relevant FFE and/or Inventory and Supplies shall pass to Service Recipient. 

  

	 	(iii)	Service Provider’s delivery of FFE and/or Inventory and Supplies to Service Recipient shall constitute Service Recipient’s acceptance of such FFE and/or Inventory and Supplies. Upon receipt, Service Recipient
shall visually inspect the FFE and/or Inventory and Supplies for any obvious physical damage and shall immediately notify Service Provider of the same upon discovery of any such damage. 

 

	 	(b)	Purchase Price and Payment: 

  

	 	(i)	Service Provider will use all reasonable efforts to deliver an invoice for the FFE and/or Inventory and Supplies (which shall be consistent with the purchase price set forth in the Purchase Order plus any applicable
sales and use taxes) upon or after delivery thereof and Service Recipient shall pay the purchase prices set forth in the invoice for the FFE and/or Inventory and Supplies within ten (10) days after delivery of the invoice for the FFE and/or
Inventory and Supplies pursuant to the terms set forth therein, provided that failure to issue an invoice within such period shall not excuse any Party from its payment obligations hereunder following receipt of such invoice.

  

	 	(ii)	All pricing set forth in the relevant Purchase Order is inclusive of common ground transportation charges but exclusive of applicable sales/use taxes, if any. 

 

	3.2	Service Provider may provide usage of FFE to Service Recipient pursuant to a Usage Arrangement, based on the type, quality and amount as required by Service Recipient (as applicable) pursuant to the relevant Purchase
Order; provided, however, that such FFE shall generally meet the Quality Standard. The Parties agree that all Purchase Orders in respect of Usage Arrangements issued pursuant to this Section 3.2 shall be deemed to
incorporate the following terms and conditions: 

  

	 	(a)	Delivery: 

  

	 	(i)	Service Provider will confirm an estimated delivery date to Service Recipient at the time of Service Provider’s acceptance of the Purchase Order. Delivery times are approximate and based upon conditions at the time
of acceptance of the Purchase Order. Service Provider will use all commercially reasonable efforts to meet the delivery date(s) as quoted, but will not be liable for any failure to meet such date(s). Partial shipments may be made. 

  
 3 

	 	(ii)	Unless otherwise specified in an accepted Purchase Order, Service Provider shall deliver the FFE to Service Recipient at Service Recipient’s premises, whereupon all risk of loss, damage to or destruction of the FFE
shall pass to Service Recipient. 

  

	 	(iii)	Service Provider’s delivery of FFE to Service Recipient shall constitute Service Recipient’s acceptance of such FFE in respect of the relevant Usage Arrangement. Upon receipt, Service Recipient shall visually
inspect the FFE for any obvious physical damage and shall immediately notify Service Provider of the same upon discovery of any such damage. 

  

	 	(b)	Fee and Payment: 

  

	 	(i)	Service Provider will use all reasonable efforts to deliver an invoice in respect of the Usage Arrangement (which shall be consistent with the Purchase Order plus any applicable sales and use taxes) upon or after
delivery thereof and Service Recipient shall pay the fee set forth in any such invoice within ten (10) days after delivery of the invoice for the Usage Arrangement for the FFE pursuant to the terms set forth therein provided that failure
to issue an invoice within such period shall not excuse any Party from its payment obligations hereunder following receipt of such invoice. 

  

	 	(ii)	All pricing set forth in the relevant Purchase Order or invoice, as applicable, shall be inclusive of common ground transportation charges but exclusive of applicable sales/use taxes, if any. 

 

	 	(c)	Return of FFE: 

  

	 	(i)	At the end of the term of the Usage Arrangement for any item of FFE, the Service Recipient shall return such item to the Service Provider. 

 

	 	(ii)	The Service Recipient shall be responsible for any damage to the FFE while it is in its possession, ordinary wear and tear excepted, and shall pay the lessor for any such damage. 

 

	3.3	Service Recipient shall inspect, at its sole cost and expense, the FFE and/or Inventory and Supplies delivered pursuant hereto (“Delivered Goods”) within five (5) days of receipt thereof and shall
notify Service Provider in writing if (in Service Recipient’s reasonable opinion) any such Delivered Goods do not meet the Quality Standard or are not fit for its intended purpose (“Rejected Goods”). Failure to inspect as
agreed or to so notify Service Provider of defects during such period shall constitute acceptance of the Delivered Goods. Unless not required by Service Provider and at Service Provider’s risk and expense, Rejected Goods shall be returned to
Service Provider. Service Provider shall issue Service Recipient a credit for the costs of such Rejected Goods or replace or correct the Rejected Goods, at Service Recipient’s election (acting reasonably). 

  
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	4.	DELIVERY REQUIREMENTS 

  

	4.1	Each Party in its capacity as Service Provider shall provide monthly reports to the Project Manager of Service Recipient of the sales and purchases and delivery status of the FFE and/or Inventory and Supplies that occur
in the immediate preceding month within twenty (20) Business Days after the end of each month. 

  

	5.	TERM 

  

	5.1	Subject to Section 8.1, this Work Agreement shall be effective as of the Commencement Date and shall continue (unless earlier terminated by the provisions hereof or the Master Services
Agreement) until June 26, 2022. 

  

	6.	COMPENSATION 

  

	6.1	Except as provided in Section 6.2 and Section 6.3, all Inventory and Supplies sold hereunder shall be at Provider Cost. 

 

	6.2	With respect to Inventory and Supplies which are being sold under this Work Agreement that have been held by Service Provider or its Affiliates for more than two years that have a per unit cost of more than ten thousand
Patacas (MOP10,000), such Inventory and Supplies shall be sold at the then fair market value of such item, if such fair market value is readily ascertainable. If not readily ascertainable, then the transfer of the relevant item of Inventory and
Supplies shall be subject to agreement on pricing between the Service Provider’s Project Manager and the Service Recipient’s Project Manager. 

  

	6.3	FFE shall be sold pursuant to one of the following methodologies, as elected by the Service Provider (acting reasonably): 

  

	 	(a)	at Provider Cost; 

  

	 	(b)	at Provider Cost, with “100%” substituted for “105%” in the definition thereof; 

  

	 	(c)	at fair market value, if such fair market value is readily ascertainable; 

  

	 	(d)	Provider Cost less depreciation (as determined under IFRS) based on the latest estimate of useful life; or 

  

	 	(e)	replacement cost. 

  

	6.4	All Usage Arrangements shall be at a market rental rate agreed between the Parties. The Parties acknowledge that short term “lending” of minor FFE for periods of up to three (3) days are common between
third party hotels and resorts for no fee and may by agreement be conducted between the Parties for no fee. 

  

	6.5	Billing and payment for the Services hereunder, including for the sales and purchases of FFE and/or Inventory and Supplies shall be governed by Section 3.2 of the Master Services Agreement.

  
 5 

	7.	PURCHASE ORDERS 

  

	7.1	Sales and purchases of FFE and/or Inventory and Supplies, and the usage of FFE, between Service Provider and Service Recipient shall be evidenced by Purchase Orders or by a transfer document produced by the procurement
and inventory system utilized by the Parties, all of which will be governed by the terms of this Work Agreement. 

  

	7.2	Any arrangement or transaction that constitutes an Ongoing Inventory Arrangement shall require the prior written approval of Project Manager of each of Service Provider and Service Recipient which shall set forth
general terms of the Ongoing Inventory Arrangement including, but not limited to: (i) the type of Inventory and Supplies to be provided; (ii) the frequency of the transactions to take place; and (iii) the aggregate dollar amount of
the transactions authorized thereunder. Service Recipient’s Project Manager may request that a cost analysis of the proposed Ongoing Inventory Arrangement be provided by Service Provider prior to any review or approval of the Ongoing Inventory
Arrangement. 

  

	8.	TERMINATION 

  

	8.1	This Work Agreement shall terminate upon the first to occur of (i) mutual agreement of the Parties in writing, (ii) termination of the Master Services Agreement, (iii) termination of this Work Agreement
by Melco Crown WA1 Parties upon the material breach by a Studio City WA1 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Melco Crown WA1 Parties of such breach, (iv) termination of
this Work Agreement by Studio City WA1 Parties upon the material breach by a Melco Crown WA1 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Studio City WA1 Parties of such breach or
(v) upon 180 days’ prior written notice by Service Recipient to the Service Provider. 

  

	8.2	Upon termination, all Services under this Work Agreement shall cease and the Parties shall pay to each other all amounts owing hereunder for Services provided through the date of termination. Upon such termination, the
Parties shall remain obligated to complete in full under any uncompleted Purchase Orders and Usage Arrangements, unless the Parties otherwise agree. 

  

	8.3	Either Party may terminate any Ongoing Inventory Arrangement Service hereunder upon ninety (90) days’ prior written notice to the other Parties, provided that a shorter notice period (but no less than
thirty (30) days in any event) may apply as determined by reference to the number of days’ worth of the Inventory and Supplies subject to such Ongoing Inventory Arrangement Service held by Service Provider (calculated to the reasonable
satisfaction of the Service Recipient). 

  

	9.	ACCESSION 

 Any Studio City Party or Melco Crown Party may accede to this Work Agreement
after the date hereof by executing a supplemental agreement in the form attached to the Master Services Agreement as Exhibit B, countersigned by Studio City Services Limited and MPEL Services Limited. Upon such accession, such acceding Party
will be a Studio City WA1 Party or a Melco Crown WA1 Party, as the case may be, for the purposes of this Work Agreement. 
 [Signature
Page Follows] 

  
 6 

									
	Studio City Entertainment Limited	 		 	Studio City Services Limited

									
					
	By:	 	 /s/ Timothy Green NAUSS
	 		 	By:	 	 /s/ Timothy Green NAUSS

					
	Title:	 	 Property CFO
	 		 	Title:	 	 Property CFO

					
	Date:	 	 December 21, 2015
	 		 	Date:	 	 December 21, 2015

									
				
	Studio City Hotels Limited	 		 		 	

									
					
	By:	 	 /s/ Timothy Green NAUSS
	 		 		 	
					
	Title:	 	 Property CFO
	 		 		 	
					
	Date:	 	 December 21, 2015
	 		 		 	

							
			
	Studio City Retail Services Limited	 		 	

									
					
	By:	 	 /s/ Timothy Green NAUSS
	 		 		 	
					
	Title:	 	 Property CFO
	 		 		 	
					
	Date:	 	 December 21, 2015
	 		 		 	

									
				
	Studio City Developments Limited	 		 		 	

									
					
	By:	 	 /s/ Timothy Green NAUSS
	 		 		 	
					
	Title:	 	 Property CFO
	 		 		 	
					
	Date:	 	 December 21, 2015
	 		 		 	

									
				
	Studio City Ventures Limited	 		 		 	

									
					
	By:	 	 /s/ Timothy Green NAUSS
	 		 		 	
					
	Title:	 	 Property CFO
	 		 		 	
					
	Date:	 	 December 21, 2015
	 		 		 	

 [Signature Page to Work Agreement #1 – Sale and Purchase of FFE Inventory and Supplies] 

									
	Melco Crown (COD) Hotels Limited	 		 	Melco Crown (COD) Retail Services Limited

									
					
	By:	 	 /s/ CHUNG, Yuk Man
	 		 	By:	 	 /s/ CHUNG, Yuk Man

					
	Title:	 	 Director
	 		 	Title:	 	 Director

					
	Date:	 	 December 21, 2015
	 		 	Date:	 	 December 21, 2015

									
			
	Melco Crown (COD) Developments Limited	 		 	Altira Developments Limited

									
					
	By:	 	 /s/ CHUNG, Yuk Man
	 		 	By:	 	 /s/ CHUNG, Yuk Man

					
	Title:	 	 Director
	 		 	Title:	 	 Director

					
	Date:	 	 December 21, 2015
	 		 	Date:	 	 December 21, 2015

									
			
	Altira Hotel Limited	 		 	Melco Crown (Macau) Limited

									
					
	By:	 	 /s/ CHUNG, Yuk Man
	 		 	By:	 	 /s/ CHUNG, Yuk Man

					
	Title:	 	 Director
	 		 	Title:	 	 Director

					
	Date:	 	 December 21, 2015
	 		 	Date:	 	 December 21, 2015

									
			
	COD Theatre Limited	 		 	MPEL Services Limited

									
					
	By:	 	 /s/ CHUNG, Yuk Man
	 		 	By:	 	 /s/ CHUNG, Yuk Man

					
	Title:	 	 Director
	 		 	Title:	 	 Director

					
	Date:	 	 December 21, 2015
	 		 	Date:	 	 December 21, 2015

									
			
	Melco Crown COD (GH) Hotel Limited	 		 	Golden Future (Management Services) Limited

									
					
	By:	 	 /s/ CHUNG, Yuk Man
	 		 	By:	 	 /s/ CHUNG, Yuk Man

					
	Title:	 	 Director
	 		 	Title:	 	 Director

					
	Date:	 	 December 21, 2015
	 		 	Date:	 	 December 21, 2015

 [Signature Page to Work Agreement #1 – Sale and Purchase of FFE Inventory and Supplies] 

			
	MPEL Properties (Macau) Limited

			
		
	By:	 	 /s/ CHUNG, Yuk Man

		
	Title:	 	 Director

		
	Date:	 	 December 21, 2015

 [Signature Page to Work Agreement #1 – Sale and Purchase of FFE Inventory and Supplies] 

 APPENDIX A 

PURCHASE ORDER 
  

			
	PROJECT
NAME                                       
                                      	  	
		
	P.O.
NUMBER                                       
                                         
 	  	DATE                                    
                                         
            
		
	REQUESTED DELIVERY
DATE                                       
             	  	

  

			
		
	SERVICE	  	CONFIRMING ORDER PLACED WITH:
	RECIPIENT/	  	
	PURCHASER                                  
                                         
       	  	SERVICE
		  	PROVIDER/
	SHIPPING	  	VENDOR                                    
                                         
     
	ADDRESS                                  
                                         
              	  	
		
	                                      
                                         
          	  	ON:                                   
          BY:
		
	                                     
                                         
           	  	ACCEPTED
BY:                                      
                                     
		
	ATTENTION                                  
                                         
          	  	PRINTED
NAME:                                     
                                    
		
	TELEPHONE                                  
                                         
          	  	TITLE:                                 
                                         
               
		
	FAX                                   
                                         
                      	  	DATE:                                   
                                         
             
		
	EMAIL                                   
                                         
                 	  	

  

									
	 ITEM NO.
	  	 QUANTITY
	  	 DESCRIPTION
	  	 $UNIT
	  	 $TOTAL

					
	 1.
	  		  		  		  	
					
	 2.
	  		  		  		  	
					
	 3.
	  		  		  		  	

 This is an offer to purchase (as the case may be) the FFE, Inventory and/or Supplies enumerated above by [Service Recipient]
from [Service Provider] based on the terms and conditions stated in (i) the Master Services Agreement, dated                    , 2015, as
amended from time to time, by and between Studio City Parties (as defined therein) and Melco Crown Parties (as defined therein) (the “Master Services Agreement”); (ii) the Work Agreement #1
dated                    , 2015 between Studio City WA1 Parties and Melco Crown WA1 Parties (the “Work Agreement”), including
Section 3.1 thereof; and (iii) on attachments listed immediately below. This section and [Service Recipient]’s acceptance must conform in all respects. Any additional or different terms proposed by [Service
Recipient] are rejected unless accepted by [Service Provider] in writing. This purchase order becomes effective only when the [Service Provider] accepts the terms hereof by countersigning above. 

Capitalized terms not defined herein shall have the meaning set forth in the Master Services Agreement and the Work Agreement. 

  
 10 

 Appendix B 

PURCHASE ORDER 
 (USAGE
ARRANGEMENT) 
  

			
	PROJECT
NAME                                       
                                      	  	
		
	P.O.
NUMBER                                       
                                         
 	  	DATE                                    
                                         
            
		
	REQUESTED DELIVERY
DATE                                       
             	  	

  

			
		
	SERVICE	  	CONFIRMING ORDER PLACED WITH:
	RECIPIENT/	  	
	LESSEE                                   
                                         
      	  	SERVICE
		  	PROVIDER/
	SHIPPING	  	LESSOR                                    
                                         
     
	ADDRESS                                  
                                         
              	  	
		
	                                      
                                         
          	  	ON:                                   
          BY:
		
	                                     
                                         
           	  	ACCEPTED
BY:                                      
                                     
		
	ATTENTION                                  
                                         
          	  	PRINTED
NAME:                                     
                                    
		
	TELEPHONE                                  
                                         
          	  	TITLE:                                 
                                         
               
		
	FAX                                   
                                         
                      	  	DATE:                                   
                                         
             
		
	EMAIL                                   
                                         
                 	  	

  

											
	 ITEM NO.
	  	 QUANTITY
	  	 DESCRIPTION
	  	 $MONTHLY

FEE/UNIT
	  	 $TOTAL

MONTHLY FEE
	  	 TERM

						
	 1.
	  		  		  		  		  	
						
	 2.
	  		  		  		  		  	
						
	 3.
	  		  		  		  		  	

 This is an offer to lease the FFE enumerated above by [Service Recipient] from [Service Provider] based on the terms and
conditions stated in (i) the Master Services Agreement, dated                    , 2015, as amended from time to time, by and between Studio
City Parties (as defined therein) and Melco Crown Parties (as defined therein) (the “Master Services Agreement”); (ii) the Work Agreement #1
dated                    , 2015 between Studio City WA1 Parties and Melcro Crown WA1 Parties (the “Work Agreement”), including
Section 3.2 thereof; and (iii) on attachments listed immediately below. This section and [Service Recipient]’s acceptance must conform in all respects. Any additional or different terms proposed by [Service Recipient] are rejected
unless accepted by [Service Provider] in writing. 
 Capitalized terms not defined herein shall have the meaning set forth in the Master Services Agreement
and the Work Agreement. 

  
 11EX-10.12

 Exhibit 10.12 

EXECUTION VERSION 
 Specific terms in
this exhibit have been redacted because confidential treatment for those terms has been requested. The redacted material has been separately filed with the Securities and Exchange Commission, and the terms have been marked at the appropriate place
with three asterisks [***]. 
 Work Agreement #2 

PROJECT NAME: Corporate Services 
 WORK AGREEMENT (“Work
Agreement”) #: 2 
 This Work Agreement is entered into by and between Studio City Entertainment Limited and Studio City Services Limited (each a
“Studio City WA2 Party” and collectively, the “Studio City WA2 Parties”), on the one hand, and MPEL Services Limited and Golden Future (Management Services) Limited (each a “Melco Crown WA2 Party”
and collectively, the “Melco Crown WA2 Parties”), on the other hand. All of the terms and conditions of the Master Services Agreement, dated December 21, 2015, as amended from time to time (the “Master Services
Agreement”), by and between Studio City Parties (as defined therein) and Melco Crown Parties (as defined therein) are deemed to be incorporated in this Work Agreement. 

 
  
  

	1.	 DEFINITIONS 

For the purposes of this Work Agreement, the following terms shall have the meanings specified in this Section 1:

 “Allocable Service Provider Cost” shall mean, with respect to any General Corporate Service, Provider Cost and/or
Provider Personnel Cost allocable to such service as determined by Service Provider in good faith. 
 “Commencement Date”
shall mean the date of execution of this Work Agreement. 
 “Cost Adjustment Factor” shall mean a factor determined as
follows: 
  

					
	 	 	Cost Adjustment Factor =	  	Current Hong Kong Index
		 		  	    Base Hong Kong Index

 Where: 
  

	 	(a)	 Current Hong Kong Index is the average of the officially published Hong Kong Index for the most recent 12
months for which data is available immediately prior to each adjustment described in Section 4.2; and 

  

	 	(b)	 Base Hong Kong Index is the average of the officially published Hong Kong Index for the most recent 12 months
for which data is available on January 1 2016; 

 provided, however, that the Cost Adjustment Factor
shall not be less than one (1). 
 [***]. 

“Fiscal Year” shall mean the calendar year except that the first (1st) Fiscal Year hereunder shall commence on November 1,
2015 and shall continue until December 31, 2015 and the last Fiscal Year hereunder shall end on the date of the expiration or earlier termination of this Work Agreement. 

  
 1 

 “General Corporate Services” is defined in Section 2.1
of this Work Agreement. 
 “Gross Revenues” shall mean an amount equal to the consolidated gross revenues of the
Service Recipient Group for the relevant period, calculated in accordance with international financial reporting standards and is gross of any casino sales incentives such as commissions and points earned in customer loyalty programs. 

“Hong Kong Index” shall mean the Composite Consumer Price Index published by the Census & Statistics Department of
the Government of the Hong Kong Special Administrative Region. If official publication of the Hong Kong Index information that would otherwise be used pursuant to this Work Agreement has been delayed and not published as of the first day of the year
for which an adjustment hereunder is being determined, then, in the interim, until such Hong Kong Index information is officially published, no adjustment shall be made. When such Hong Kong Index information is officially published, the
determination shall be made as though such Hong Kong Index had been officially published as of the first day of such year and the Hong Kong Index adjustments shall be applied retroactively and prospectively for the remainder of such year. 

If the Hong Kong Index is discontinued by the Census & Statistics Department of the Government of the Hong Kong Special
Administrative Region, or any successor thereto, and not replaced by any substantially similar index, then any Cost Adjustment required hereunder shall be renegotiated by the Parties in good faith during the thirty (30) days immediately
preceding expiration of such year. 
 “MCE Rooms” shall mean hotel rooms in hotels owned, managed or controlled by Melco
Crown Entertainment Limited or its subsidiaries, other than SC Rooms. 
 “Net Room Change” means Total Additional MCE Rooms
less the Total Additional SC Rooms. 
 “Office Usage Service” is defined in Section 2.7 of
this Work Agreement. 
 “Parties” or “Party” shall mean Melco Crown WA2 Parties, any Melco Crown WA2
Party, Studio City WA2 Parties or any Studio City WA2 Party, as applicable. 
 “Percentage of Estimated Effort” shall mean
the estimated effort, expressed as a percentage of employee time, of Service Provider’s Senior Vice Presidents engaged in providing the Services to the Service Recipient, determined in good faith by Service Provider. 

“Premium Direct Players” shall mean rolling chip players who are direct customers of a casino that are not sourced by a
junket. 
 “Provider Cost” shall mean all costs and expenses (including any currency and foreign exchange costs) incurred
or paid by the Service Provider in providing, or obtaining the provision of, the Services to the Service Recipient pursuant to this Work Agreement, excluding Provider Cost for Senior Vice President Services and Provider Personnel Cost. 

“Provider Cost for Senior Vice President Services” shall mean for each Senior Vice President of Service Provider or member of
Service Provider Group utilized to provide the Senior Vice President Services, all costs and expenses incurred or paid by Service Provider or 

  
 2 

 
members of Service Provider Group in employing such Senior Vice Presidents, including salary, bonuses, monetary value of equity compensation, payroll taxes, employee related insurance and
employee benefits multiplied by Percentage of Estimated Effort. 
 “Provider Personnel Cost” shall mean for each employee
or consultant of Service Provider or member of Service Provider Group, excluding any Senior Vice President or any person that provides the Senior Vice President Services, utilized to provide the Services to the Service Recipient pursuant to this
Work Agreement, all costs and expenses incurred or paid by Service Provider or members of Service Provider Group, including salary, bonuses, monetary value of equity compensation, payroll taxes, employee related insurance and employee benefits. 

“Relevant Month” is defined in Section 4.5 of this Work Agreement. “Relevant
Revenues” shall mean Gross Revenues less VIP Gaming Revenues. 
 “SC Rooms” shall mean hotel rooms in
hotels owned, managed or controlled by Studio City International Holdings Limited or any of its subsidiaries. 
 “Senior Vice
Presidents” shall mean: 
  

	 	(a)	those employees who are employed as, and whose official internal employment title/designation is, “Senior Vice President” and who report directly to persons with the title of “Senior Vice President,”
who report directly to persons with the title of “Executive Vice President,” or more senior; 

  

	 	(b)	any of the employees in (a) above who, after the date of this Work Agreement, are given a different official internal employment title/designation, provided that such employee’s business reporting line
remains substantially the same and such employee continues to perform substantially the same role and functions as were performed prior to the change in internal employment title/designation. 

“Senior Vice President Services” shall mean the services performed by Senior Vice Presidents in each of the functional
departments in which they are employed by the relevant member of the MCE Group. 
 “Service Fee” shall mean a fee equal to:

  

	 	(a)	three percent (3%) for the period from November 1, 2015 to December 31, 2016; and 

  

	 	(b)	two and one-half percent (2.5%) thereafter, 

 of the
Service Recipient Group’s annual Relevant Revenues, provided that the amount of the Service Fee payable shall at no time (i) be lower than the Service Fee Base, nor (ii) exceed the Service Fee Cap. The Service Fee shall be
subject to adjustment pursuant to Section 6.2 of this Work Agreement. 

  
 3 

 “Service Fee Base” shall mean: 

 

	 	(a)	for the period from November 1, 2015 to December 31, 2015, US$5,000,000; 

  

	 	(b)	for the Fiscal Year from January 1, 2016 to December 31, 2016, US$30,000,000; and 

  

	 	(c)	for each subsequent Fiscal Year, US$30,000,000, as adjusted pursuant to Sections 4.2 and 4.3. 

“Service Fee Cap” shall mean: 
  

	 	(a)	for the period from November 1, 2015 to December 31, 2015, US$6,666,667; 

  

	 	(b)	for the Fiscal Year from January 1, 2016 to December 31, 2016, US$40,000,000; and 

  

	 	(c)	for each subsequent Fiscal Year, US$40,000,000, as adjusted pursuant to Sections 4.2 and 4.3. 

“Service Provider” shall mean the Melco Crown WA2 Parties as the provider of the Services described in
Section 2. 
 “Service Provider Group” shall mean Service Provider and those entities which are
its Affiliates. 
 “Service Recipient” shall mean the Studio City WA2 Parties as the receiver of the services described in
Section 2. 
 “Service Recipient Group” shall mean Service Recipient and those entities which are
its Affiliates. 
 “Services” shall mean the General Corporate Services, the Senior Vice President Services, the Customer
Database Service, the Office Usage Service and the SOP Services. 
 “Service Termination” is defined in
Section 6.1 of this Work Agreement. 
 “Service Termination Costs” shall mean all costs
reasonably incurred by Service Provider in terminating a Service, including employee severance costs, but excluding any fees for such Service which Service Provider would otherwise have had the right to charge to Service Recipient after the date of
Service Termination. 
 “SOP Services” is defined in Section 2.6 of this Work Agreement. 

“Studio City Annual Operating Budget” means the annual operating budget prepared by the management of Studio City business
and agreed by the board of directors of SCIH. 
 “SVP Service Payment” is defined in Section 4.1(b)
of this Work Agreement. 
 “Term” is defined in Section 3.1 of this Work Agreement. 

“Total Additional MCE Rooms” means, at the relevant time, the aggregate number of MCE Rooms in excess of 2,579. 

  
 4 

 “Total Additional SC Rooms” means, at the relevant time, the aggregate number of
SC Rooms in excess of 1,598. 
 “VIP Gaming Revenues” shall mean revenue generated for the relevant period from the table
games played in private VIP gaming rooms or areas by rolling chip patrons who are either Premium Direct Players or junket players. 

Capitalized terms not defined herein shall have the meaning set forth in the Master Services Agreement. 

 

	2.	DESCRIPTION OF SERVICES 

  

	2.1	Service Provider shall provide general corporate services of the nature described in Schedule A to the Service Recipient on an on-going basis (the “General
Corporate Services”) during the Term (as defined below). 

  

	2.2	To the extent necessary, Service Provider may also provide General Corporate Services from its international offices. 

  

	2.3	Service Provider shall provide Senior Vice President Services to the Service Recipient on an on-going basis during the Term. 

 

	2.4	[***]. 

  

	2.5	[***]. 

  

	2.6	Service Provider shall provide Service Recipient with copies of Service Provider’s standard operating procedures for relevant operations, and any updates thereto from time to time (the “SOP
Services”). 

  
 5 

	2.7	Service Provider shall provide office space located in Hong Kong and other locations outside of Macau for the relevant personnel providing Service Recipient with the General Corporate Services and the Senior Vice
President Services (the “Office Usage Service”). 

  

	3.	TERM 

  

	3.1	Subject to Section 5.1, this Work Agreement shall be effective as of the Commencement Date and shall continue (unless earlier terminated by the provisions hereof or the Master Services
Agreement) until June 26, 2022. 

  

	4.	COMPENSATION 

  

	4.1	Beginning on November 1, 2015, Service Recipient shall pay to Service Provider: 

  

	 	(a)	the Service Fee on a monthly basis in consideration for the Services, (excluding the Senior Vice President Services provided by Service Provider hereunder); and 

 

	 	(b)	a fee in an amount equal to the Provider Cost for Senior Vice President Services on a monthly basis (the “SVP Service Payment”). 

 

	4.2	The Service Fee Base and the Service Fee Cap shall be adjusted on January 1 of each year (beginning on January 1, 2017) by multiplying each of the then Service Fee Base and Service Fee Cap by the Cost Adjustment Factor.

  

	4.3	In addition to being adjusted in accordance with Section 4.2, the Service Fee Base and the Service Fee Cap shall be further adjusted on January 1 of each year (beginning on January 1, 2017) as
follows: 

  

	 	(a)	if the Net Room Change at such time is negative, the Service Fee Base and the Service Fee Cap (in each case, as adjusted pursuant to Section 4.2, but without regard to any previous adjustments
pursuant to this Section 4.3) shall be increased by two percent (2%) for each full 200 of Net Room Change; and 

  

	 	(b)	if the Net Room Change at such time is positive, the Service Fee Base and the Service Fee Cap (in each case, as adjusted pursuant to Section 4.2, but without regard to any previous adjustments
pursuant to this Section 4.3) shall be decreased by two percent (2%) for each full 200 of Net Room Change. 

For the avoidance of any doubt, the two percent (2%) adjustment to be made pursuant to Section 4.3(a) and
(b) shall apply to 200 (and not any lower number) of Net Room Change and any multiples thereof. 
  

	4.4	With respect to any Services provided from the Commencement Date until October 31, 2015, the Services provided will be charged based on all actual costs and expenses (including any currency and foreign exchange
costs) incurred or paid by Service Provider in providing, or obtaining the provision of, the Services to Service Recipient pursuant to this Work Agreement multiplied by the estimated effort, expressed as a percentage of employee time of Service
Provider’s employees or consultants engaged in providing the Services, determined in good faith by Service Provider. 

  
 6 

	4.5	With respect to any Fiscal Year and each calendar month included therein, the Service Fee shall be payable by Service Recipient in tentative monthly installments as herein provided. 

 

	 	(a)	With respect to any calendar month in any Fiscal Year (the “Relevant Month”), the tentative monthly installment payable on account of the Service Fee for that Relevant Month shall be equal to the
tentative Service Fee calculated on the basis of the current Relevant Revenues for the Fiscal Year up to the last date of the Relevant Month less the aggregate amount of the tentative monthly installments having theretofore been paid for such
Fiscal Year on account of the Service Fee. 

  

	 	(b)	Service Provider will use all reasonable efforts to issue an invoice to Service Recipient for the tentative monthly installment amount of the Service Fee within twenty (20) days of each calendar month end (which
invoice will include a copy of the calculation of the tentative monthly installment amount in accordance with Section 4.5(a) that was done by the Service Provider), provided that failure to issue an invoice within
such period shall not excuse any Party from its payment obligations hereunder following receipt of such invoice. 

  

	 	(c)	Service Recipient shall pay, or cause to be paid, within ten (10) days after the delivery of the relevant invoice, the tentative monthly installments of the Service Fee to Service Provider. 

 

	 	(d)	If, for any Fiscal Year, the aggregate amount of the tentative monthly installments paid to Service Provider on account of the Service Fee is determined to be more or less than the Service Fee payable for such Fiscal
Year based upon the final determination of Gross Revenues (as reflected in Service Recipient’s consolidated audited financial statements) and Relevant Revenues for such Fiscal Year, then, by way of year end adjustment, within fifteen
(15) days after the preparation of such consolidated audited financial statements, Service Provider shall pay to Service Recipient the amount of such overpayment or Service Recipient shall pay to Service Provider the amount of any such
underpayment. 

  

	4.6	Service Provider will use all reasonable efforts to issue an invoice to Service Recipient for the Provider Cost for Senior Vice President Services provided to such Service Recipient within twenty (20) days of the
end of each month (which invoice will set out a statement for the Provider Cost for Senior Vice President Services, including the percentage allocation to the Service Recipient for each Senior Vice President and reasonable detail of the cost
allocation therefor), provided that failure to issue an invoice within such period shall not excuse any Party from its payment obligations hereunder following receipt of such invoice. 

 

	4.7	Service Recipient shall pay, or cause to be paid, within ten (10) days after the delivery of the relevant invoice, the Provider Cost for Senior Vice President Services for the month to which the invoice relates.

  
 7 

	4.8	The Service Fee does not include any third-party expenses reasonably incurred by Service Provider in providing the foregoing services (but not in substitution for Service Provider’s obligation to provide the
Services directly), which shall be compensated by Service Recipient to Service Provider (in an amount not to exceed Service Provider’s actual cost) within ten (10) days after receiving an invoice therefor. Any third-party expense to be
incurred by Service Provider which (a) exceeds the fee amount for the Service budgeted in the Studio City Annual Operating Budget and (b) is over (i) US$100,000 (on a line items basis), shall be
pre-advised to the Chief Financial Officer of SCIH and (ii) US$500,000 (on a line items basis), shall be pre-approved by the Chief Financial Officer of SCIH.

  

	5.	TERMINATION OF WORK AGREEMENT 

  

	5.1	This Work Agreement shall terminate upon the first to occur of (i) mutual agreement of the Parties in writing, (ii) termination of the Master Services Agreement, (iii) termination of this Work Agreement
by Melco Crown WA2 Parties upon the material breach by a Studio City WA2 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Melco Crown WA2 Parties of such breach or (iv) termination of
this Work Agreement by Studio City WA2 Parties upon the material breach by a Melco Crown WA2 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Studio City WA2 Parties of such breach.

  

	5.2	Upon termination, all Services under this Work Agreement shall cease and the Parties shall pay to each other all amounts owing hereunder for Services provided through the date of termination. 

 

	6.	TERMINATION OF SPECIFIC SERVICE 

  

	6.1	In the event Service Recipient provides a written notice to Service Provider which adequately demonstrates (to the reasonable satisfaction of Service Provider) that any General Corporate Service or Senior Vice President
Service under this Work Agreement (the “Relevant Service”) can be undertaken by Service Recipient itself or by engaging one or more third parties at a lesser cost than the Allocable Service Provider Cost for the Relevant Service
under this Work Agreement, or at a higher quality of service (for a cost not greater than the increase in benefit to the business of Service Recipient) for the Relevant Service under this Work Agreement, Service Recipient may terminate such Relevant
Service upon 180 days’ prior written notice (or such shorter period as may be agreed by the Parties) (a “Service Termination”); provided, however, that no such Service Termination may take effect and the written
notice of termination shall be deemed void if, within thirty (30) days after the date of demonstration by the Service Recipient that the Relevant Services can be undertaken at a lesser cost or at a higher quality of service (for a cost not
greater than the increase in benefit to the business of Service Recipient) (which demonstration must be sufficient to the reasonable satisfaction of Service Provider), Service Provider agrees in writing to provide the Relevant Service at such lesser
cost or higher quality as demonstrated by Service Recipient and to adjust the Service Fee or Provider Cost for Senior Vice President Services, as applicable, accordingly. 

  
 8 

	6.2	Upon a Service Termination: 

  

	 	(a)	of any of the Services (other than the Senior Vice President Services), the dollar amount of the Service Fee shall be reduced by the relevant portion of Allocable Service Provider Cost for the Relevant Service for
periods subsequent to the date of Service Termination; or 

  

	 	(b)	of any part of the Senior Vice President Services, the SVP Service Payment shall be reduced by the relevant portion of the Provider Cost for Senior Vice President Services for periods subsequent to the date of Service
Termination. 

  

	6.3	Upon a Service Termination, Service Recipient shall pay all Service Termination Costs within ten (10) days after receiving an invoice therefor. 

 

	7.	ACCESSION 

 Any Studio City Party or Melco Crown Party may accede to this Work Agreement
after the date hereof by executing a supplemental agreement in the form attached to the Master Services Agreement as Exhibit B, countersigned by Studio City Services Limited and MPEL Services Limited. Upon such accession, such acceding Party
will be a Studio City WA2 Party or a Melco Crown WA2 Party, as the case may be, for the purposes of this Work Agreement. 
 [Signature
Page Follows] 

  
 9 

			
	Studio City Entertainment Limited

			
		
	By:	 	 /s/ Timothy Green NAUSS

	Title:	 	 Property CFO

	Date:	 	 December 21, 2015

			
	
	Studio City Services Limited

			
		
	By:	 	 /s/ Timothy Green NAUSS

	Title:	 	 Property CFO

	Date:	 	 December 21, 2015

  
 [Signature Page to Work
Agreement #2 – Corporate Services] 

			
	MPEL Services Limited

			
		
	By:	 	 /s/ CHUNG, Yuk Man

	Title:	 	 Director

	Date:	 	 December 21, 2015

			
	
	Golden Future (Management Services) Limited

			
		
	By:	 	 /s/ CHUNG, Yuk Man

	Title:	 	 Director

	Date:	 	 December 21, 2015

  
 [Signature Page to Work
Agreement #2 – Corporate Services] 

 SCHEDULE A 

General Corporate Services 
  

	1.	Corporate Executive Vice Presidents and Chief Executive Officer management services include, but are not limited to: 

  

	 	•	 	establishment of core values, vision and mission and ensuring that they and shareholders’ interests are met; 

  

	 	•	 	establishment of a culture of innovation, cost consciousness, compliance and efficiency to drive shareholder value; 

  

	 	•	 	development of core strategy and determination of key policies; 

  

	 	•	 	monitor and drive business performance; 

  

	 	•	 	monitor and evaluate business conditions and developments in the gaming industry on an ongoing basis to ensure that the impact of changes are identified and addressed effectively; 

 

	 	•	 	[***]; 

  

	 	•	 	[***]; 

  

	 	•	 	leadership of business units; 

  

	 	•	 	corporate social responsibility leadership and management; 

  

	 	•	 	executive management of lender relationships; 

  

	 	•	 	development of effective frameworks and ongoing monitoring to ensure all significant business risks are identified and appropriate policies and procedures are established to ensure risk is effectively mitigated to an
acceptable level; 

  

	 	•	 	capital and liquidity strategy, management and control; and 

  

	 	•	 	proactively monitor business performance against targets and market and drive focus on key initiatives and corrective action to improve results. 

 

	2.	In-house legal services including, but not limited to: 

  

	 	•	 	transaction management and execution (including financing transactions); 

  

	 	•	 	legal advice on legal and regulatory compliance and contract covenant compliance (including loan and bond term compliance); 

  

	 	•	 	insurance procurement; 

  

	 	•	 	advising on operational risk management; 

  
 12 

	 	•	 	development and review of contracts; 

  

	 	•	 	drafting and establishing various internal procedures and policies; 

  

	 	•	 	managing regulatory and contractual compliance issues; 

  

	 	•	 	preparing, reviewing and filing of public reports and other disclosures; 

  

	 	•	 	internal contract management and company secretarial matters; 

  

	 	•	 	providing intellectual property protection tools; 

  

	 	•	 	preparation and coordination for Board and shareholder meetings; 

  

	 	•	 	managing litigation matters and insurance claims; 

  

	 	•	 	liaison with other departments on deal execution related matters; and 

  

	 	•	 	liaison with government authorities on legal issues. 

  

	3.	Corporate finance and treasury services including, but not limited to: 

  

	 	•	 	accounting for non-operational companies; 

  

	 	•	 	consolidation of Studio City entities; 

  

	 	•	 	the Sarbanes-Oxley Act compliance control and compliance reviews; 

  

	 	•	 	all treasury services (including debt / equity management, debt raising, compliance monitoring, liquidity management, foreign exchange risk management); 

 

	 	•	 	investor relations; 

  

	 	•	 	financial compliance (determination of accounting policies for new and unusual transactions); 

  

	 	•	 	preparation of all external financial statements for the Securities & Exchange Commission, DICJ and debtholders; and 

  

	 	•	 	oversight of audit and tax services. 

  

	4.	Internal audit services including, but not limited to: establishment and execution of a comprehensive internal audit program designed to audit internal controls and procedures across the business with a risk focus and
to fulfill requirements of the DICJ and external audit. 

  

	5.	Corporate communications services including, but not limited to: 

  

	 	•	 	[***] 

  
 13 

	 	•	 	GOE - local Macau protocol, Government/Guest Invitations, Media Invitation (Hong Kong, Macau & Regional), Press Conference, Media Tours, Red Carpet media handling and Media Junkets/Interviews;

  

	 	•	 	post-opening destination media Tours (China/Taiwan/Korea/Japan/Southeast Asia) & PR promotions; and 

  

	 	•	 	on-going - Crisis Communications and Media Office for Studio City. 

  

	6.	Corporate investigation services including, but not limited to: 

  

	 	•	 	vendor and employee due diligence; 

  

	 	•	 	contract review focused on procurement fraud, anomalies and correct tender process; 

  

	 	•	 	investigations of suspected illegal activities at the Parties’ companies and premises; 

  

	 	•	 	investigation of suspected illegal acts committed by patrons at the Parties’ premises; 

  

	 	•	 	investigation of suspected vendor fraud and implementation of controls to mitigate corruption relating to vendor performance and product delivery; 

 

	 	•	 	identification of organized crime and notification to relevant authorities; 

  

	 	•	 	patron due diligence relating to reputational and credit suitability; 

  

	 	•	 	bad debt monitoring and review of patron financial suitability; 

  

	 	•	 	collection of long term and high risk outstanding debts; 

  

	 	•	 	corporate-wide strategic information security planning; 

  

	 	•	 	manage and perform information security incident response and investigation activities; 

  

	 	•	 	implementation and management of DLP and DID processes and systems relating to data theft, data forensics and data recovery; and 

  

	 	•	 	corporate-wide incident management system, implementation and deployment to BUs and properties, review of collated data for incident trend analysis. 

 

	 	•	 	executive protection operations for senior executive, entertainers and dignitaries. 

  
 14 

	7.	Procurement services including, but not limited to: 

  

	 	•	 	procurement of operating items and capital; 

  

	 	•	 	monitoring of global spend to ensure global leveraging opportunities are exploited for SC’s benefit; and 

  

	 	•	 	assist in leveraging vendors for sponsorship and marketing income. 

  

	8.	Corporate recruitment and expatriate services including, but not limited to: 

  

	 	•	 	Centralized function to ensure strategic resourcing, consistent approach and well defined employer image; 

  

	 	•	 	development and implementation of regional and local recruitment initiatives and process standards; 

  

	 	•	 	specialist recruitment service operating in a highly challenging labor market and reaching out to potential employees; 

  

	 	•	 	building of key relationships with stakeholders and delivering commercial and creative sourcing plans to meet aggressive hiring needs; 

 

	 	•	 	development of effective sourcing methods to ensure that MCE Parties stay ahead of the curve in hiring the best talents; 

  

	 	•	 	supporting the business with well-defined recruitment tools, clearly defined employer messages and brand standards, website employment portal (Taleo), use of social media (Linkedin, Facebook, etc.), association with
academic institutions, government offices and worker groups; 

  

	 	•	 	create and utilize well-defined employee specifications, and candidate profile requirements, interview assessment standards and evaluation, alignment of shortlisted candidates compared to requirements and work closely
with business leaders to ensure recruitment and onboarding times are minimized; 

  

	 	•	 	expatriate services deal with complex visa and work permit issues/renewals, government quota requirements to enable the company to employ overseas nationals and provide support to expatriate nationals in legally
required government processes; and 

  

	 	•	 	effective management of third party recruitment agencies to ensure enhanced services within budgets. 

  

	9.	Learning and development in-house labor services including, but not limited to: 

  

	 	•	 	setting the vision and operating strategies for the Studio City Parties in the areas of learning and expertise development; 

  

	 	•	 	defining and leading the overall strategy/direction of learning and development across all dimensions of the industry, practice areas, capabilities and professional competencies; 

  
 15 

	 	•	 	working with business leaders and subject matter experts to strategically align business goals with people development; 

  

	 	•	 	leading the overall continuity of the learning strategy implementation from planning to development to deployment to execution; provide oversight, review materials and assist in critical development tasks during
implementation; 

  

	 	•	 	developing and implementing learning and development programs that communicate the business strategy, internal values, aims, operating standards and goals for all employees; 

 

	 	•	 	defining and maintaining core learning curriculum for business units; and 

  

	 	•	 	enriching the skills of employees through managed development programs, providing learning opportunities which allow individuals to grow and progress within the company and meet their potential. 

 

	10.	Payroll services including, but not limited to: 

  

	 	•	 	balancing and reconciling payroll data, scheduling and attendance records supplied from HR teams; 

  

	 	•	 	ensuring the accurate calculation of due salaries & wages based on rates of pay; 

  

	 	•	 	organizing payroll cycle payment calculations by paygroup, deducting income tax, pension funds and any other approved deductions; 

  

	 	•	 	securing management approvals for payment; 

  

	 	•	 	depositing funds with approved banks; 

  

	 	•	 	calculating reimbursements, bonuses, overtime and holiday pay; 

  

	 	•	 	generating payslips for employees; 

  

	 	•	 	verifying the reliability of pay data with Finance; 

  

	 	•	 	ensuring accurate payroll records are maintained; and 

  

	 	•	 	all payroll activities for senior management, both expatriate and local and payroll compliance and regulatory reporting functions. 

  

	11.	Corporate human resources services, including, but not limited to: 

  

	 	•	 	providing access to the standard operating procedures of Service Provider; 

  

	 	•	 	ensuring that HR operations are aligned to corporate HR strategies and business goals of the organization; 

  
 16 

	 	•	 	administering approved employee branding, internal messaging and corporate required learning and development; 

  

	 	•	 	providing centralized services such as benefits management, management appointments, talent management, compensation & benefits management, championing of processes, internal management development, formulation
of policy (and adherence); 

  

	 	•	 	providing HR analytics, HR systems, government required documentation; 

  

	 	•	 	assessing legality of HR practices and deployment of resources; 

  

	 	•	 	coordinating decentralized HR functions which are closely aligned with business units and business operations. 

  

	 	•	 	implementation and execution of corporate HR strategies, policies and frameworks; monitoring compliance with all applicable laws and regulations concerning employment practices, employees health and welfare as well as
internal HR policies; 

  

	 	•	 	day to day management of all aspects of delivering compensation, benefits, international mobility and payroll for senior executives of the Group; 

 

	 	•	 	providing comprehensive analyses on competitive market positions and trends to ensure competitive positioning for top management, Compensation Committees and the various Boards of Directors for the Group;

  

	 	•	 	aligning HR policies, practices and resources with overall business and corporate objectives; 

  

	 	•	 	development of competitive equity compensation models as part of the overall compensation package for senior executives and board members; 

 

	 	•	 	maintenance of comprehensive records of equity compensation plan activities; 

  

	 	•	 	providing compliance services for all domestic and international laws with respect to income and tax withholdings for equity awards; 

 

	 	•	 	administration of all matters pertaining to stock compensation, including preparation of all stock compensation related disclosures; 

 

	 	•	 	providing Sarbanes-Oxley Act procedures related to equity process and agreements and equity notices to employees; and 

  

	 	•	 	day to day business partnering support to all business units for Hong Kong based employees, IT and expatriates. 

  

	12.	Corporate risk and compliance services including, but not limited to: 

  

	 	•	 	identification, assessment, and treatment of strategic and operational risks via development and monitoring of risk registers and indicators, and oversight of appropriateness of processes and controls in place to
respond to and manage such risks; and 

  
 17 

	 	•	 	monitoring of processes to ensure compliance with all key regulatory and contractual obligations. 

  

	13.	Warehouse and logistics senior management services including, but not limited to: 

  

	 	•	 	management and development of the property dedicated warehouse and logistics team; 

  

	 	•	 	establishment of policies and procedures; 

  

	 	•	 	establishment of inventory PAR levels and monitoring of slow moving stock; and 

  

	 	•	 	management of non-inventory items in storage to ensure onsite and offsite storage space is effectively utilized and offsite storage space minimized. 

 

	14.	Macau office administration services including, but not limited to: 

  

	 	•	 	managing and coordinating workspace allocation, access control, office equipment, administration needs, repair & maintenance and upkeep of offices located in City of Dreams, Studio City, Flower City and DCW;

  

	 	•	 	coordinating supporting facilities, cleaning schedules and managing the mail rooms located in each building; and 

  

	 	•	 	the transfer and delivery of mail and a messenger service for internal and business related documents throughout Macau. 

  
 18

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