Document:

EX-10.15

 Exhibit 10.15 

EXECUTION VERSION 
 Work
Agreement #5 
 PROJECT NAME: Limousine Transportation Services 

WORK AGREEMENT (“Work Agreement”) #: 5 
 This
Work Agreement is entered into by and between Studio City Hotels Limited and Studio City Ventures Limited (each a “Studio City WA5 Party” and collectively, the “Studio City WA5 Parties”), on the one hand, and Melco
Crown (COD) Hotels Limited, Melco Crown COD (GH) Hotel Limited, Altira Hotel Limited, Melco Crown COD (HR) Hotel Limited, Melco Crown COD (CT) Hotel Limited and MCE Travel Limited (each a “Melco Crown WA5 Party” and collectively,
the “Melco Crown WA5 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:

 “Aggregate Theoretical Revenue” is equal to the Theoretical Revenue of both Service Provider Group’s gaming areas
at MCE Resorts and Studio City’s gaming areas from customers utilizing such ground transportation services. 
 “Commencement
Date” shall mean the date of execution of this Work Agreement. 
 “Monthly Capital Cost” of the limousine fleet
shall be determined by amortizing the cost of the vehicles over the assessed useful life based on the planned replacement date of each vehicle. 

“Parties” or “Party” means Melco Crown WA5 Parties, any Melco Crown WA5 Party or Studio City WA5 Party, as
applicable. 
 “Relevant Vehicles” shall have the meaning described in Section 5.3 of this Work
Agreement. 
 “Relevant Vehicle List” shall mean the list of vehicles attached to this Work Agreement as Schedule A,
as updated and amended in accordance with this Work Agreement from time to time. 
 “Relevant Vehicles Purchase Price”
shall have the meaning described in Section 5.3 of this Work Agreement. 
 “Service Provider
Group” shall mean Service Provider and those entities which are its Affiliates. 
 “Services” shall mean the
services described in Section 2.1 of this Work Agreement. 

  
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 “Theoretical Revenue” is an amount tracked for a customer calculated by
multiplying their bets by the win rate of the games they play. 
 “Total Monthly Vehicle Cost” is the sum of (i) the
Monthly Capital Cost and (ii) the total monthly running costs (including labor, fuel, maintenance, insurance and relevant license fees) of the limousine fleet. 

“Trip” shall mean a trip by an eligible customer from or to a Service Recipient or Service Provider hotel resort in a vehicle
provided by Service Provider. 
 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 to Service Recipient’s customers limousine transportation services on the same basis as Service Provider provides limousine transportation services to MCE Resorts’ customers.
Studio City WA5 Parties may only be a Service Recipient of the Services under this Section 2.1. 

  

	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	All Services provided by the Service Provider to the Service Recipient hereunder shall be determined and charged on a monthly basis in accordance with the following fee schedule: 

 

			
	 Services
	  	 Fees

	Limousine Transportation	  	Service Recipient shall pay an amount equal to (a) the
	Services	  	percentage of customers’ Trips attributable to Studio City,
		  	multiplied by (b) the Total Monthly Vehicle Cost.
		
		  	The percentage of customers’ Trips attributable to the
		  	Studio City WA5 Party will equal the Studio City
		  	percentage share of Aggregate Theoretical Revenue from
		  	customers using Service Provider limousine transportation
		  	services.

  

	4.2	Service Recipient shall pay, or cause to be paid, within ten (10) days of receipt, any bills and invoices that it receives from the Service Provider for Services provided under or pursuant to this Work Agreement,
subject to receiving any appropriate support documentation for such bills and invoices and, more particularly, the provisions under Section 3.2 of the Master Services Agreement. 

  
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	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 WA5 Parties upon the material breach by a Studio City WA5 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Melco Crown WA5 Parties of such breach, (iv) termination of
this Work Agreement by Studio City WA5 Parties upon the material breach by a Melco Crown WA5 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Studio City WA5 Parties of such breach or
(v) termination of this Work Agreement by Service Recipient subject to a 180 days prior written notice of termination delivered to Service Provider. 

  

	5.2	Upon termination, and subject to Section 5.3 below, 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. 

  

	5.3	On a date agreed with Melco Crown WA5 Parties (such date to be no earlier than the date which is 30 days prior to the proposed date of termination of this Work Agreement and no later than the date of termination), the
Studio City WA5 Party shall (unless otherwise agreed by the Parties) purchase the vehicles identified in the Relevant Vehicle List (the “Relevant Vehicles”) for a purchase price equal to the product of the then current
amortized book value of the Relevant Vehicles recorded on the books of the owner of the Relevant Vehicles, which value will include any transfer taxes (the “Relevant Vehicles Purchase Price”). 

 

	5.4	The Project Managers shall review and mutually agree to any revisions, updates and changes to the Relevant Vehicle List each time a vehicle is added to or removed from the Service Provider’s fleet, and in any event
(whether or not any vehicles have been added or removed) not less than quarterly. 

  

	6.	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 Hotels Limited and Melco Crown (COD) Hotels Limited. Upon such accession, such
acceding Party will be a Studio City WA5 Party or a Melco Crown WA5 Party, as the case may be, for the purposes of this Work Agreement. 

[Signature Page Follows] 

  
 3 

			
	Studio City Hotels 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 #5 – Shared Limo Services] 

									
	Melco Crown (COD) Hotels Limited	 		 	MCE Travel 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	 		 		 	
					
	By:	 	 /s/ CHUNG, Yuk Man
	 		 		 	
	Title:	 	 Director
	 		 		 	
	Date:	 	 December 21, 2015
	 		 		 	
				
	Altira Hotel Limited	 		 		 	
					
	By:	 	 /s/ CHUNG, Yuk Man
	 		 		 	
	Title:	 	 Director
	 		 		 	
	Date:	 	 December 21, 2015
	 		 		 	
				
	Melco Crown COD (HR) Hotel Limited	 		 		 	
					
	By:	 	 /s/ CHUNG, Yuk Man
	 		 		 	
	Title:	 	 Director
	 		 		 	
	Date:	 	 December 21, 2015
	 		 		 	
				
	Melco Crown COD (CT) Hotel Limited	 		 		 	
					
	By:	 	 /s/ CHUNG, Yuk Man
	 		 		 	
	Title:	 	 Director
	 		 		 	
	Date:	 	 December 21, 2015
	 		 		 	

 [Signature Page to Work Agreement #5 – Shared Limo Services] 

 SCHEDULE A 

Relevant Vehicles 
  

											
	 Model
	  	 Owner
	  	 Qty
	  	 Date of Purchase
	  	 Planned Disposal
Month
	  	 Life Months

	Toyota Alphard	  	 Melco Crown (COD)
 Hotels Ltd.
	  	20	  	Oct 2015	  	Oct 2020	  	72
	Mercedes Benz S500L	  	 Melco Crown (COD)
 Hotels Ltd.
	  	6	  	Nov 2015	  	Nov 2021	  	84

  
 6EX-10.16

 Exhibit 10.16 

EXECUTION VERSION 
 Work
Agreement #6 
 PROJECT NAME: Aviation Services 
 WORK
AGREEMENT (“Work Agreement”) #: 6 
 This Work Agreement is entered into by and between Studio City Entertainment Limited and Studio City
Hotels Limited (each a “Studio City WA6 Party” and collectively, the “Studio City WA6 Parties”), on the one hand, and MCE Transportation Limited, MCE Transportation Two Limited and Melco Crown (Macau) Limited (each
a “Melco Crown WA6 Party” and collectively, the “Melco Crown WA6 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:

 “Aircraft” means any airplane and/or air jet as may be from time to time owned by a Melco Crown WA6 Party. 

“Aviation Services” shall mean the services described in Section 2.1 of this Work Agreement. 

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

“Crew” shall mean such pilots (captains and co-pilots), flight attendants and flight
engineers who may be employed either by the Service Provider Group or by the Managers for operation and/or maintenance of the Aircraft. 

“Crew Costs” shall mean all costs and expenses incurred or paid by the Service Provider Group in employing or engaging such
Crew, including salary, bonuses, monetary value of equity compensation, payroll taxes, employee related insurance and employee benefits and applicable training costs. 

“Depreciation” of the Aircraft shall be determined by amortizing (on a straight-line basis) the cost of the relevant Aircraft
over the assessed useful life based on the planned replacement date of such Aircraft. 
 “Finance Expenses” means the
aggregate amount of the accrued interest, commission, fees, discounts, prepayment penalties or premiums and other finance payments in respect of financing the purchase of the Aircraft. 

“Fixed Costs” means the fixed costs attributable to on-going operations of the
relevant Aircraft, including, but not limited to, Crew Costs, Maintenance Costs, Management Fees, Aircraft insurance costs, Office Expenses, Depreciation and Finance Expenses. 

  
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 “Flight Operations Costs” means the direct operating costs of a flight,
including, but not limited to, fuel, parking, ground handling (including, but not limited to, de-icing), navigation, planning, passenger handling, airport fees, per diem crew costs, ferry flight charges (if
applicable) and any other taxes, duties or charges applicable to such flight. 
 “Flight Time” means the total time (in
hours) an Aircraft spends carrying passengers or positioning. 
 “Helicopter” means any helicopter as may be from time to
time owned by a Melco Crown WA6 Party. 
 “Hourly Basic Charge”, in respect of an Aircraft, means the actual Fixed Costs
for the six calendar months immediately prior to the month in which the relevant Aviation Services are provided to a Studio City WA6 Party divided by the total Flight Time for the same period. 

“Initial Term” is defined in Section 3.1 of this Work Agreement. 

“Maintenance Costs” shall mean all costs and expenses of maintenance, repair or refurbishment of the Aircraft, whether of a
recurring or one-off nature, and whether directly incurred, paid or payable by the Service Provider Group, or incurred by the Managers and charged to the Service Provider Group. 

“Management Fees” shall mean all the periodic management and administrative fixed fees incurred or paid by the Service
Provider Group to the Managers pursuant to the relevant management agreements entered into between Melco Crown WA6 Parties and the Managers. 

“Managers” shall mean the third party aircraft operators, with a valid air operator certificates, engaged by Melco Crown WA6
Parties from time to time for operation of the Aircraft. 
 “Office Expenses” means the Staff Costs and out of pocket
office rental for offices used by aviation staff and consultants, utilities and supplies. 
 “Parties” or
“Party” means Melco Crown WA6 Parties, any Melco Crown WA6 Party, Studio City WA6 Parties or any Studio City WA6 Party, as applicable. 

“Per Flight Charge” is defined in Section 4.1(1) of this Work Agreement. 

“Renewal Term” is defined in Section 3.1 of this Work Agreement. 

“Service Provider Group” shall mean the Melco Crown WA6 Parties and those entities which are its Affiliates. 

“Staff Costs” shall mean for each employee or consultant of Service Provider or member of Service Provider Group, excluding
any Crew, to the extent utilized to provide the Aviation Services to the Service Recipient pursuant to this Work Agreement or similar services to other members of the Service Provider Group, 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. 

“Term” is defined in Section 3.1 of this Work Agreement. 

  
 2 

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

	2.	DESCRIPTION OF AVIATION SERVICES 

  

	2.1	Service Provider shall provide to the Service Recipient on an on-going basis during the Term (as defined below) the following services (collectively “Aviation
Services”): 

  

	 	(a)	use of the Aircraft and/or Helicopter for air transportation services on an “as available” basis; and 

  

	 	(b)	subject to (a) above, management of such use of the Aircraft and/or Helicopter on substantially the same basis as provided by the Service Provider Group to its staff and customers; 

provided, that Studio City WA6 Parties may only be a Service Recipient of the Aviation Services under this
Section 2.1. 
  

	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	All Aviation Services provided by the Service Provider to the Service Recipient hereunder shall be charged on the following fee schedule: 

 

					
	 	  	 Type of Service
	  	 Fees

	1	  	Aviation Services	  	
			
		  	Aviation Services—Use of Aircraft	  	 Service Recipient shall pay, for use of Aircraft for each individual trip, an amount equal to the Flight Operations Costs plus the Hourly
Basic Charge multiplied by the actual Flight Time incurred for such instance of use (“Per Flight Charge”).
  

Before Aviation Services with an Aircraft are provided, Service Provider shall provide Service Recipient with an estimated fee quote based on the estimated
Flight Time of the requested Aviation Services with an Aircraft and the estimated applicable Hourly Basic Charge (based on the most recent data available); provided, however, that such a fee quote is sought and provided on the basis
that Service Recipient acknowledges that Flight Times and Hourly Basic Charges are calculated and provided on a “reasonable estimate” basis only, and Service Recipient shall be invoiced

  
 3 

					
	 	 	 Type of Service
	  	 Fees

			
		 		  	 and shall pay for the actual Flight Time incurred and the actual applicable Hourly Basic Charge.

 
 Any Aviation Services with an Aircraft to be provided hereunder, and the relevant
estimated fee quote in respect thereof, must be pre- approved in writing by one of the following:
  

(i)     the Chief Financial Officer of SCIH;

 
 (ii)    the Property
President of SCIH; or
  
 (iii)  any
person to whom either of the above has designated such authority (in writing, and otherwise in such form as is reasonably satisfactory to the Service Provider).
  

		 	Aviation Services—Use of Helicopter	  	As set forth in Schedule A hereto, which shall be updated from time to time.

  

	4.2	Service Recipient shall pay, or cause to be paid, within ten (10) days of receipt, any bills and invoices that it receives from the Service Provider for the Aviation Services provided under or pursuant to this Work
Agreement, subject to receiving any appropriate support documentation for such bills and invoices and, more particularly, the provisions under Section 3.2 of the Master Services Agreement. 

 

	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 WA6 Parties upon the material breach by a Studio City WA6 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Melco Crown WA6 Parties of such breach, (iv) termination of
this Work Agreement by Studio City WA6 Parties upon the material breach by a Melco Crown WA6 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Studio City WA6 Parties of such breach or
(v) termination of this Work Agreement by Service Recipient subject to a 180 days prior written notice of termination delivered to Service Provider. 

  

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

  

	6.	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 Hotels Limited and MCE Transportation Limited. Upon such accession, such acceding
Party will be a Studio City WA6 Party or a Melco Crown WA6 Party, as the case may be, for the purposes of this Work Agreement. 

[Signature Page Follows] 

  
 4 

			
	Studio City Entertainment Limited

			
		
	By:	 	 /s/ Timothy Green NAUSS

			
	Title:	 	 Property CFO

	Date:	 	 December 21, 2015

	
	Studio City Hotels Limited

			
		
	By:	 	 /s/ Timothy Green NAUSS

			
	Title:	 	 Property CFO

	Date:	 	 December 21, 2015

 [Signature Page to Work Agreement #6 – Aviation Charges] 

			
	MCE Transportation Limited

			
		
	By:	 	 /s/ CHUNG, Yuk Man

			
	Title:	 	 Director

	Date:	 	 December 21, 2015

	
	MCE Transportation Two Limited

			
		
	By:	 	 /s/ CHUNG, Yuk Man

			
	Title:	 	 Director

	Date:	 	 December 21, 2015

	
	Melco Crown (Macau) Limited

			
		
	By:	 	 /s/ CHUNG, Yuk Man

			
	Title:	 	 Director

	Date:	 	 December 21, 2015

 [Signature Page to Work Agreement #6 – Aviation Charges] 

 SCHEDULE A 

Aviation Services—Helicopter 

Roundtrip Flight Cost from Shun Tak to Macau Business Aviation Center (approximate flight time per single trip: 20 minutes): 

$11,500.00 US Dollars 
 Roundtrip flight cost
from Hong Kong International Airport to Macau Business Aviation Center (approximate Flight Time per single trip: 20 minutes): 
 $11,500.00
US Dollars 

  
 7

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