Document:

Quarterly & Annual Incentive Plan for Non-Officer Employees

 Exhibit 10.83 
  
 QUARTERLY & ANNUAL INCENTIVE PLAN FOR NON-OFFICER EMPLOYEES 
 (2005) 
  
 The Board of
Directors (the “Board”) recognizes that each employee plays an important role in the growth and financial success of Charles & Colvard, Ltd. (the “Corporation”) and wishes to provide each of those employees with meaningful
incentives to work to accomplish the goals established by the Board on an annual basis. This Quarterly & Annual Incentive Plan for Non-Officer Employees Plan (the “Plan”) outlines the provisions of those incentives. 
  
 I. General Incentives 
  
 Effective January 1, 2005, each full time employee, including the employees of the Hong Kong subsidiary, who is not a participant in another
annual incentive plan, shall be eligible to receive five days’ pay and a stock option award for 60 shares of the common stock of the Corporation (“Common Stock”) for each fiscal quarter when both the operating income and revenue goals
of the Corporation are achieved. Should the Corporation achieve the quarterly operating income goal, but fail to meet the quarterly revenue target, each employee shall receive three days’ pay and a stock option award for 30 shares of Common
Stock. Sales staff employees are eligible to receive the stock option awards, but shall not be eligible for the cash portion of this incentive because they are eligible to receive other cash bonuses based on their individual and team sales results.
For purposes of this incentive plan, the Hong Kong employees will be judged 80% on the results of the Hong Kong subsidiary and 20% on the results of the Corporation as a whole. 
  
 Additionally, each employee shall be eligible to receive an additional incentive based on the annual results of the Corporation. Should the
Corporation attain the annual goals for operating income and revenue, irrespective of whether one or more of the quarterly goals are not attained, the employee shall receive five days’ pay and a stock option award for 60 shares of Common Stock.
Should the Corporation reach the operating income for the year, but fail to reach the revenue goal, the employee shall be awarded three days’ pay and a stock option award for 30 shares of Common Stock. 
  
 The restrictions on the stock awarded under this incentive program will require the
individual to remain an employee on a continuous basis, and shall vest over a three-year period, one third each on the anniversary date of the award, so that the award will vest in full on the third anniversary of the date of grant. Unless the
Committee determines otherwise, if the employment of the employee is terminated for any reason (whether by the Corporation or the employee) prior to vesting of his stock option award, the unvested portion(s) of his stock option award shall be
forfeited and the employee shall have no right to the shares subject to the unvested portion of the award. 

					
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 II. Director Level Incentives

  
 There are several key positions representing important leadership roles
in the Corporation; the contributions of the individuals occupying these positions are critical to the success of the Corporation. For 2005, these positions are: Sales Directors; Director of Manufacturing; Director of Information Technology;
Comptroller; and Managing Director, Asia. For purposes of the Plan, the Managing Director, Asia will be judged 80% on the results of the Hong Kong subsidiary and 20% on the results of the Corporation as a whole. 
  
 The Committee, in its discretion, may determine that individuals occupying other positions
within the Corporation may also be eligible to participate in the Plan. Participation in the Plan in any one year does not guarantee the right to participate in any other year. 
  
 The Committee wishes to provide each of the employees in these positions with meaningful incentives to work to accomplish the goals
established by the Board on an annual basis. The following outlines the provisions of those incentives. 
  
 Effective January 1, 2005, each of those employees shall be eligible to receive five days’ pay and a stock option award for 100 shares of Common Stock for each fiscal quarter when both the operating income and
revenue goals of the Corporation are achieved. Should the Corporation achieve the operating income goal, but fail to meet the revenue target, each employee shall receive three days’ pay and a stock option award for 50 shares of Common Stock.
The Sales Directors are eligible for the stock option awards, but shall not be eligible for the cash portion of this incentive because they are eligible to receive other cash bonuses based on their individual and team sales results. 
  
 Additionally, each of these employees shall be eligible to receive an additional incentive
based on the annual results of the Corporation. Should the Corporation attain the annual goals for operating income and revenue, irrespective of whether one or more of the quarterly goals is not attained, the employee shall receive five days’
pay and a stock option award for 100 shares of Common Stock. Should the Corporation reach the operating income for the year, but fail to reach the revenue goal, the employee shall be awarded three days’ pay and a stock option award for 50
shares of Common Stock. The Sales Directors are eligible for the stock option awards, but shall not be eligible for the cash portion of this incentive because they are eligible to receive other cash bonuses based on their individual and team sales
results. 
  
 The restrictions on the stock awarded under this incentive program
will require the individual to remain an employee on a continuous basis and shall vest over a three-year period, one third each on the anniversary date of the award, so that the award will vest in full on the third anniversary of the date of grant.
Unless the Committee determines otherwise, if the employment of the employee is terminated for any reason (whether by the Corporation or the employee), the unvested portion(s) of his stock option award shall be forfeited and the employee shall have
no right to the shares subject to the unvested portion of the award. 

					
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 III. Terms and Conditions of the
Plan 
  
 Unless otherwise stated, the following terms and conditions apply to
any incentives awarded under the Plan: 
  
 A. Administration
of the Plan 
  
 1. The Plan shall be administered by the
Board or, upon its delegation, by the Committee. For the purposes of the Plan, the term “Committee” shall, unless otherwise required by applicable law, refer to the Board and, upon its delegation to the Committee of all or part of its
authority to administer the Plan, to the Committee. 
  
 2. In
addition to action by meeting in accordance with applicable law, any action of the Committee with respect to the Plan may be taken by a written instrument signed by all of the members of the Committee and any such action so taken by written consent
shall be as fully effective as if it had been taken by a majority of the members at a meeting duly held and called. Subject to the provisions of the Plan, the Committee shall have full and final authority in its discretion to take any action with
respect to the Plan including, without limitation, the authority (a) to determine all matters relating to any awards under the Plan, including selection of individuals to be granted awards, the types of awards, the number of shares of Common Stock,
if any, subject to an award, and all terms, conditions, restrictions and limitations of an award; (b) to prescribe the form or forms of any agreements evidencing any awards granted under the Plan; (c) to establish, amend and rescind rules and
regulations for the administration of the Plan; and (d) to construe and interpret the Plan and any agreements evidencing awards granted under the Plan, to establish and interpret rules and regulations for administering the Plan and to make all other
determinations deemed necessary or advisable for administering the Plan. In addition, except to the extent otherwise required under Internal Revenue Code (“Code”) Section 409A, related regulations or other guidance, the Committee shall
have authority, in its sole discretion, to accelerate the date that any award that was not otherwise exercisable or vested shall become exercisable or vested in whole or in part without any obligation to accelerate such date with respect to any
other awards granted to any recipient. In addition, the Committee shall have the authority and discretion to establish terms and conditions of awards (including but not limited to the establishment of subplans) as the Committee determines to be
necessary or appropriate to conform to the applicable requirements or practices of jurisdictions outside of the United States. 
  
 B. Board Authority to Reduce or Eliminate Awards 
  

The Board shall have full authority to reduce or eliminate all awards hereunder. Unless the Committee determines otherwise, a participant who terminates employment for
any reason prior to the completion of the time period on which an award is based or vesting period applicable to the award shall not be eligible for the award. 

					
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 C. Source of Stock
option Awards 
  
 Any stock option awards made under the Plan are issued
under and pursuant to the 1997 Omnibus Stock Plan of Charles & Colvard, Ltd. as amended (“Omnibus Plan”). With respect to any stock option awards made under the Plan, all terms, conditions, and requirements of the Omnibus Plan are
incorporated into the Plan by reference. For any stock option awards, to the extent that there is a contradiction between the Plan and the Omnibus Plan or an ambiguity as to the provisions of the Plan, the terms of the Omnibus Plan shall control.
All shares issued under the Plan are drawn from the shares reserved under the Omnibus Plan for issuance of awards (see section 4 of the Omnibus Plan). 
  
 D. Compliance with Code Section 409A 
  
 1. Notwithstanding any other provision in the Plan or an award to the contrary, if and to the extent that Section 409A of the Code is deemed to apply to
the Plan or any award granted under the Plan, it is the general intention of the Corporation that the Plan and all such awards shall comply with Code Section 409A, related regulations or other guidance, and the Plan and any such award shall, to the
extent practicable, be construed in accordance therewith. Deferrals of shares issued under the Plan in a manner that would cause Code Section 409A to apply shall not be permitted. Without in any way limiting the effect of the foregoing, in the event
that Code Section 409A, related regulations or other guidance require that any special terms, provisions or conditions be included in the Plan or any award, then such terms, provisions and conditions shall, to the extent practicable, be deemed to be
made a part of the Plan or award, as applicable. Further, in the event that the Plan or any award shall be deemed not to comply with Code Section 409A or any related regulations or other guidance, then neither the Corporation, the Board nor its or
their designees or agents shall be liable to any participant or other person for actions, decisions or determinations made in good faith. 
  
 2. Without limiting the effect of Section D.1., herein, except to the extent otherwise required or permitted under Code Section 409A, related regulations
or other guidance, distributions of Awards under the Plan must be made no later than the later of (a) the date that is 2 1/2 months from the end of the employee’s first taxable year in which the amount is no longer subject to a substantial risk of forfeiture; or (b) the date that is 2 1/2 months from the end of the Corporation’s first taxable year in which the amount is no longer subject to a substantial risk of forfeiture.

  
 E. Applicable Law 
  
 The Plan shall be governed by and construed in accordance with the laws of the State of
North Carolina, without regard to the conflicts of laws provisions of any state, and in accordance with applicable federal laws of the United States. 

					
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 F. Amendment and
Termination of the Plan 
  
 1. The Plan and any award may be
amended or terminated at any time by the Board or the Committee. No action to amend or terminate the Plan or an award shall permit the acceleration of the time or schedule or any payment of amounts deemed to involve the deferral of compensation
under Code Section 409A, except as may be otherwise permitted under Section 409A, related regulations or other guidance. 
  
 2. Without limiting the effect of Section F.1., herein, the Board shall have unilateral authority to amend the Plan and any award (without Participant
consent) to the extent necessary to comply with applicable laws, rules or regulations or changes to applicable laws, rules or regulations (including but not limited to Code Section 409A, federal securities laws or related regulations or other
guidance). 
  
 G. No Right or Obligation of Continued
Employment 
  
 Nothing contained in the Plan shall require the Corporation or
a related corporation to continue the employment or service of an employee, nor shall any such individual be required to remain in the employment or service of the Corporation or a related corporation. 
  
 H. Compliance with Laws 
  
 The Board may impose such restrictions on any shares or other payments or awards hereunder
as it may deem advisable, including without limitation restrictions under the Securities Act of 1933, as amended (the “Securities Act”), under the requirements of any stock exchange or similar organization and under any blue sky, state or
foreign securities laws applicable to such shares. Notwithstanding any other Plan provision to the contrary, the Corporation shall not be obligated to issue, deliver or transfer shares of Common Stock under the Plan, make any other distribution of
benefits under the Plan or take any other action, unless such delivery, distribution or action is in compliance with all applicable laws, rules and regulations (including but not limited to the requirements of the Securities Act). The Corporation
may cause a restrictive legend to be placed on any certificate issued hereunder in such form as may be prescribed from time to time by applicable laws and regulations or as may be advised by legal counsel. 
  
 I. Unfunded Plan; No Effect on Other Plans 
  
 1. The Plan shall be unfunded, and the Corporation shall not be required to
create a trust or segregate any assets that may at any time be represented by awards under the Plan. The Plan shall not establish any fiduciary relationship between the Corporation and any employee or other person. Neither an employee nor any other
person shall, by reason of the Plan, acquire any right in or title to any assets, funds or property of the Corporation or any related corporation, including, without limitation, any specific funds, assets or other property that the Corporation or
any related corporation, in their discretion, may set aside in anticipation of a liability under the Plan. A participant shall have only a contractual right to the Common Stock or other amounts, if any, 

					
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payable under the Plan, unsecured by any assets of the Corporation or any related corporation. Nothing contained in the Plan shall constitute a guarantee
that the assets of such entities shall be sufficient to pay any benefits to any person. 
  
 2. The amount of any compensation deemed to be received by a participant pursuant to an award shall not constitute compensation with respect to which any other employee benefits of such participant are determined,
including, without limitation, benefits under any bonus, pension, profit sharing, life insurance or salary continuation plan, except as otherwise specifically provided by the terms of such plan or as may be determined by the Board or Committee.

  
 3. The adoption of the Plan shall not affect any other
compensation plans in effect for the Corporation or any related corporation, nor shall the Plan preclude the Corporation from establishing any other forms of compensation for employees or service providers of the Corporation or any related
corporation. 
  
 J. Withholding; Tax Matters

  
 1. The Corporation shall withhold, or shall require the
participant to pay the Corporation in cash, the amount of any local, state, federal, foreign or other tax or other amount required by any governmental authority to be withheld and paid over by the Corporation to such authority for the account of the
participant. 
  
 2. The Corporation makes no warranties or
representations with respect to the tax consequences (including but not limited to, income tax consequences) related to the transactions contemplated by this Plan. A participant should consult with his or her own attorney, accountant, and/or tax
advisor regarding the decision to participate in the Plan and the consequences thereof. The Corporation has no responsibility to take or refrain from taking any actions in order to achieve a certain tax result for any participant.Employment Agreement between Wynn Las Vegas, LLC and David Sisk

 Exhibit 10.32 
  

  
 EMPLOYMENT AGREEMENT 
 (“Agreement”) 
  
 - by and between - 
  
 WYNN LAS VEGAS, LLC 
 (“Employer”) 
  
 - and - 
  
 DAVID SISK 
 (“Employee”) 
  

  
 DATED: as of September 16, 2003 
  

 EMPLOYMENT AGREEMENT 
  
 THIS EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of the 16th day of September
2003, by and between WYNN LAS VEGAS, LLC (“Employer”) and DAVID SISK (“Employee”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, Employer is a limited liability company duly organized and existing under the laws of the State of Nevada, maintains its principal
place of business at 3145 Las Vegas Blvd. South, Las Vegas, Nevada, and is engaged in the business of developing and operating a casino resort at such place of business; and, 
  
 WHEREAS, in furtherance of its business, Employer has need of qualified, experienced personnel; and,

  
 WHEREAS, Employee is an adult individual
residing at 10008 Laurel Springs, Las Vegas, Nevada 89134; and, 
  
 WHEREAS, Employee has represented and warranted to Employer that Employee possesses sufficient qualifications and expertise in order to fulfill the terms of the employment stated in this Agreement; and, 
  
 WHEREAS, Employer is willing to employ Employee, and Employee
is desirous of accepting employment from Employer under the terms and pursuant to the conditions set forth herein; 
  
 NOW, THEREFORE, for and in consideration of the foregoing recitals, and in consideration of the mutual covenants, agreements,
understandings, undertakings, representations, warranties and promises hereinafter set forth, and intending to be legally bound thereby, Employer and Employee do hereby covenant and agree as follows: 
  
 1. DEFINITIONS. As used in this Agreement, the words
and terms hereinafter defined have the respective meanings ascribed to them, unless a different meaning clearly appears from the context: 
  
 (a) “Affiliate” - means with respect to a specified Person, any other Person who or which is (i) directly or
indirectly controlling, controlled by or under common control with the specified Person, or (ii) any member, director, officer or manager of the specified Person. For purposes of this definition, only, “control”, “controlling”,
and “controlled” mean the right to exercise, directly or indirectly, more than fifty percent (50%) of the voting power of the stockholders, members or owners and, with respect to any 

 
individual, partnership, trust or other entity or association, the possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of the controlled entity. 
  
 (b) “Anniversary” - means each anniversary date of the Effective Date during the Term (as defined in Paragraph 5 hereof). 
  
 (c) “Cause” - means 
  
 (i) the willful destruction by Employee of the property of Employer or an Affiliate having a material value to Employer or such Affiliate;

  
 (ii) fraud, embezzlement, theft, or
comparable dishonest activity committed by Employee (excluding acts involving a de minimis dollar value and/or not related to Employer or an Affiliate); 
  

(iii) Employee’s conviction of or entering a plea of guilty or nolo contendere to any crime constituting a felony or any
misdemeanor involving fraud, dishonesty or moral turpitude (excluding acts involving a de minimis dollar value and/or not related to Employer or an Affiliate); 
  
 (iv) Employee’s breach, neglect, refusal, or failure to materially discharge his duties (other than due
to physical or mental illness) commensurate with his title and function, or Employee’s failure to comply with the lawful directions of Employer, that is not cured within fifteen (15) days after Employee has received written notice thereof from
Employer; 
  
 (v) a willful and knowing material
misrepresentation to Employer’s or an Affiliate’s Board of Directors; 
  
 (vi) a willful violation of a material policy of Employer or an Affiliate, which does or could result in material harm to Employer or to
Employer’s reputation, or that of an Affiliate; or 
  
 (vii) Employee’s material violation of a statutory or common law duty of loyalty or fiduciary duty to Employer or an Affiliate, 
  

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 provided, however, that Employee’s disability due to illness or accident or any
other mental or physical incapacity shall not constitute “Cause” as defined herein. 
  
 (d) “Change of Control” - means the occurrence, after the Effective Date, of any of the following events:

  
 (i) any “Person” or
“Group” (as such terms are defined in Section 13(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) and the rules and regulations promulgated thereunder), excluding any Excluded Stockholder, is or becomes the
“Beneficial Owner” (within the meaning of Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of Employer, or of any entity resulting from a merger or consolidation involving Employer, representing more
than fifty percent (50%) of the combined voting power of the then outstanding securities of Employer or such entity; 
  
 (ii) the individuals who, as of the time immediately following the closing of Employer’s initial public offering, are members of
Employer’s Board of Directors (the “Existing Directors”) cease, for any reason, to constitute more than fifty percent (50%) of the number of authorized directors of Employer as determined in the manner prescribed in Employer’s
Articles of Incorporation and Bylaws; provided, however, that if the election, or nomination for election, by Employer’s stockholders of any new director was approved by a vote of at least fifty percent (50%) of the
Existing Directors, such new director shall be considered an Existing Director; provided further, however, that no individual shall be considered an Existing Director if such individual initially assumed office as a
result of either an actual or threatened “Election Contest” (as described in Rule 14a-11 promulgated under the Exchange Act) or other actual or threatened solicitation of proxies by or on behalf of anyone other than the Board (a
“Proxy Contest”), including by reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest; or 
  
 (iii) the consummation of (x) a merger, consolidation or reorganization to which Employer is a party, whether or not Employer is the
Person surviving or resulting therefrom, or (y) a sale, assignment, lease, conveyance or other disposition of all or substantially all of the assets of Employer, in one transaction or a series of related transactions, to any Person other than
Employer, where any 

  

 3 

 
such transaction or series of related transactions as is referred to in clause (x) or clause (y) above in this subparagraph (iii) (singly or collectively, a
“Transaction”) does not otherwise result in a “Change of Control” pursuant to subparagraph (i) of this definition of “Change of Control”; provided, however, that no such Transaction shall constitute
a “Change of Control” under this subparagraph (iii) if the Persons who were the stockholders of Employer immediately before the consummation of such Transaction are the Beneficial Owners, immediately following the consummation of such
Transaction, of fifty percent (50%) or more of the combined voting power of the then outstanding voting securities of the Person surviving or resulting from any merger, consolidation or reorganization referred to in clause (x) above in this
subparagraph (iii) or the Person to whom the assets of Employer are sold, assigned, leased, conveyed or disposed of in any transaction or series of related transactions referred in clause (y) above in this subparagraph (iii), in substantially the
same proportions in which such Beneficial Owners held voting stock in Employer immediately before such Transaction. 
  
 For purposes of the foregoing definition of “Change of Control,” the term “Excluded Stockholder” means Stephen A. Wynn, the spouse,
siblings, children, grandchildren or great grandchildren of Stephen A. Wynn, any trust primarily for the benefit of the foregoing persons, or any Affiliate of any of the foregoing persons. 
  
 (e) “Complete Disability” - means
the inability of Employee, due to illness or accident or other mental or physical incapacity, to perform his obligations under this Agreement for a period as defined by Employer’s local disability plan or plans. 
  
 (f) “Effective Date” - means October
20, 2003. 
  
 (g) “Good
Reason” - means the occurrence, of any of the following (except with Employee’s written consent or resulting from an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by Employer or its
Affiliate promptly after receipt of notice thereof from Employee): 
  
 (i) Employer or an Affiliate reduces Employee’s Base Salary (as defined in Subparagraph 7(a) below); 
  
 (ii) Employer discontinues its bonus plan in which Employee participates as in effect without immediately replacing such bonus plan with a
plan that is the substantial 

  

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economic equivalent of such bonus plan, or amends such bonus plan so as to materially reduce Employee’s potential bonus at any given level of economic
performance of Employer or its successor entity; 
  
 (iii) Employer materially reduces the aggregate benefits and perquisites to Employee from those being provided; 
  
 (iv) Employer or any of its Affiliates requires Employee to change the location of Employee’s job or office, so that Employee will be
based at a location more than 25 miles from the location of Employee’s job or office; 
  
 (v) Employer or any of its Affiliates reduces Employee’s responsibilities or directs Employee to report to a person of lower rank or
responsibilities than the person to whom Employee reported; or 
  
 (vi) the successor to Employer fails or refuses expressly to assume in writing the obligations of Employer under this Agreement. 
  
 For purposes of this Agreement, a determination by Employee that Employee has “Good Reason” shall be final and
binding on Employer and Employee absent a showing of bad faith on Employee’s part. 
  
 (h) “Separation Payment” - means a sum equal to (A) Employee’s Base Salary (as defined in Subparagraph 7(a)
of this Agreement) for the twelve (12) months following termination, plus (B) the bonus that was paid to Employee under Subparagraph 7(b) for the preceding bonus period, projected over the twelve (12) months following that bonus period, plus (C) any
accrued but unpaid vacation pay, plus (D) any Gross-Up Payment required by Exhibit 1 to this Agreement, which is incorporated herein by reference, said sum to be paid out over twelve (12) months in such weekly, bi-weekly or semi-monthly installments
as shall be convenient to Employer. 
  
 2. BASIC
EMPLOYMENT AGREEMENT. Subject to the terms and pursuant to the conditions hereinafter set forth, Employer hereby employs Employee during the Term hereinafter specified to serve in a capacity, under a title, and with such duties not
inconsistent with those set forth in Section 3 of this Agreement, as the same may be modified and/or assigned to Employee by Employer from time to time; provided, however, that no change in Employee’s duties shall be permitted if it would
result in a material reduction in the level of Employee’s duties as in effect prior to the change, it being understood, however, that a change in Employee’s reporting responsibilities is not, itself, a basis for finding a material
reduction in the level of duties. 
  

 5 

 3. DUTIES OF EMPLOYEE. Employee shall perform such duties assigned to Employee by
Employer as are generally associated with the duties of Sr. Vice President & Chief Financial Officer for Employer or such similar duties as may be assigned to Employee by Employer as Employer may determine. Employee’s duties shall
include, but not be limited to: (i) the efficient and continuous operation of Employer and its Affiliates; (ii) the preparation of relevant budgets and allocation or relevant funds; (iii) the selection and delegation of duties and responsibilities
of subordinates; (iv) the direction, review and oversight of all programs under Employee’s supervision; and (v) such other and further duties as may be assigned by Employer to Employee from time to time. The foregoing notwithstanding, Employee
shall devote such time to Employer’s Affiliates as may be required by Employer, provided such duties are not inconsistent with Employee’s primary duties to Employer hereunder. 
  
 4. ACCEPTANCE OF EMPLOYMENT. Employee hereby unconditionally accepts the employment set forth
hereunder, under the terms and pursuant to the conditions set forth in this Agreement. Employee hereby covenants and agrees that, during the Term, Employee will devote the whole of Employee’s normal and customary working time and best efforts
solely to the performance of Employee’s duties under this Agreement and that, except upon Employer’s prior express written authorization to that effect, Employee shall not perform any services for any casino, hotel/casino or other similar
gaming or gambling operation not owned by Employer or any of Employer’s Affiliates. Employer hereby authorizes Employee to provide assistance to his former employer on litigation matters that are pending as of the Effective Date and involve
that former employer, provided such assistance does not interfere with the performance of Employee’s duties under this Agreement. 
  
 5. TERM. Unless sooner terminated as provided in this Agreement, the term of this Agreement (the “Term”) shall
consist of four (4) years commencing on the Effective Date of this Agreement and terminating on the fourth Anniversary of the Effective Date. 
  
 6. SPECIAL TERMINATION PROVISIONS. Notwithstanding the provisions of Section 5 of this Agreement, this Agreement shall terminate upon
the occurrence of any of the following events: 
  
 (a) the death of Employee; 
  
 (b) the
giving of written notice from Employer to Employee of the termination of this Agreement upon the Complete Disability of Employee; 
  
 (c) the giving of written notice by Employer to Employee of the termination of this Agreement upon the discharge of Employee for Cause;

  
 (d) the giving of written notice by Employer
to Employee of the termination of this Agreement following a disapproval of this Agreement or the denial, suspension, limitation or revocation of Employee’s License (as defined in Subsection 8(b) of this Agreement); 
  

 6 

 (e) the giving of written notice by Employer to Employee of the termination of this
Agreement without Cause, provided, however, that after such notice, Employer must make the Separation Payment to Employee; 
  

(f) the giving of written notice by Employee to Employer upon a material breach of this Agreement by Employer, which material breach
remains uncured for a period of thirty (30) days after the giving of such notice, provided, however, that after the expiration of such cure period without the cure having been effected, Employer must make the
Separation Payment to Employee; or 
  
 (g) at
Employee’s sole election in writing as provided in Paragraph 17 of this Agreement, within ten (10) days after both a Change of Control and as a result of Good Reason, provided, however, that after
Employer’s receipt of Employee’s written election, Employer must make the Separation Payment to Employee. 
  
 In the event of a termination of this Agreement pursuant to the provisions of Subparagraph 6(a), (b), (c) or (d), Employer shall not be required to make any payments to
Employee other than payment of Base Salary and vacation pay accrued but unpaid through the termination date. In the event of a termination of this Agreement pursuant to the provisions of Subparagraph 6(e), (f) or (g), Employee will also be entitled
to receive health benefits coverage for Employee and Employee’s dependents under the same plan(s) or arrangement(s) under which Employee was covered immediately before Employee’s termination, or plan(s) established or arrangement(s)
provided by Employer or any of its Affiliates thereafter. Such health benefits coverage shall be paid for by Employer to the same extent as if Employee were still employed by Employer, and Employee will be required to make such payments as Employee
would be required to make if Employee were still employed by Employer. The health benefits provided under this Paragraph 6 shall continue until the earlier of (x) the expiration of the period for which the Separation Payment is paid, (y) the date
Employee becomes covered under any other group health plan not maintained by Employer or any of its Affiliates; provided, however, that if such other group health plan excludes any pre-existing condition that Employee or
Employee’s dependents may have when coverage under such group health plan would otherwise begin, coverage under this Paragraph 6 shall continue (but not beyond the period described in clause (x) of this sentence) with respect to such
pre-existing condition until such exclusion under such other group health plan lapses or expires. In the event Employee is required to make an election under Sections 601 through 607 of the Employee Retirement Income Security Act of 1974, as amended
(commonly known as COBRA) to qualify for the health benefits described in this Paragraph 6, the obligations of Employer and its Affiliates under this Paragraph 6 shall be conditioned upon Employee’s timely making such an election. In the event
of a termination of this Agreement pursuant to any of the provisions of this Paragraph 6, Employee shall not be entitled to any benefits pursuant to any severance plan in effect by Employer or any of Employer’s Affiliates. 
  

 7 

 7. COMPENSATION TO EMPLOYEE. For and in complete consideration of Employee’s
full and faithful performance of Employee’s duties under this Agreement, Employer hereby covenants and agrees to pay to Employee, and Employee hereby covenants and agrees to accept from Employer, the following items of compensation: 

 
 (a) Base Salary. Employer hereby covenants
and agrees to pay to Employee, and Employee hereby covenants and agrees to accept from Employer, a base salary at the rate of Three Hundred Fifty Thousand Dollars ($350,000.00) per annum, payable in such weekly, bi-weekly or semi-monthly
installments as shall be convenient to Employer (the “Base Salary”). Such Base Salary shall be subject to periodic merit reviews and may be increased, but not decreased, as a result of any such review. Such Base Salary shall be
exclusive of and in addition to any other benefits which Employer, in its sole discretion, may make available to Employee including, but not limited to any bonus plan, stock incentive plan, profit sharing plan, pension plan, retirement plan,
disability or life insurance plan, medical and/or hospitalization plan, or any other benefit plan which may be in effect during the Term. 
  
 (b) Bonus Compensation. Employee also will be eligible to receive a bonus as follows: 
  
 (i) Fifty Thousand Dollars ($50,000.00) for the period
ending December 31, 2003; 
  
 (ii) One Hundred
Thousand Dollars ($100,000.00) for the period of January 1 through December 31, 2004; 
  
 (iii) For periods thereafter, at such times and in such amounts as Employer, in its sole and exclusive discretion, may determine, until
such time as Employer adopts a performance-based bonus plan, and thereafter in accordance with such plan. 
  
 Nothing in this Agreement shall limit Employer’s discretion to adopt, amend or terminate any bonus plan at any time. 
  
 (c) Employee Benefit Plans. Employer hereby
covenants and agrees that it shall include Employee, if otherwise eligible, in any profit sharing plan, stock incentive plan, pension plan, retirement plan, disability or life insurance plan, medical and/or hospitalization plan, and any other
benefit plan which may be placed in effect by Employer or any of its Affiliates for the benefit of Employer’s executives during the Term. Subject to and effective 

  

 8 

 
upon the approval of the Compensation Committee of Wynn Resorts, Limited, Employee shall be granted 75,000 stock options of Wynn Resorts, Limited common
stock under the Wynn Resorts, Limited 2002 Stock Incentive Plan. Nothing in this Agreement shall limit Employer’s or any of its Affiliates’ ability to exercise the discretion provided to it under any employee benefit plan, or to adopt,
amend or terminate any benefit plan at any time. 
  
 (d) Expense Reimbursement. During the Term and provided the same are authorized in advance by Employer, Employer shall either pay directly or reimburse Employee for Employee’s reasonable expenses incurred for the
benefit of Employer in accordance with Employer’s general policy regarding expense reimbursement, as the same may be modified from time to time. Employer specifically agrees to reimburse Employee for his professional dues and continuing
professional education expenses, up to a total of One Thousand Five Hundred Dollars ($1,500.00) per year of the Term, non-cumulative. Prior to such any payment or reimbursement of expenses, Employee shall provide Employer with sufficient detailed
invoices of such expenses as may be required by Employer’s policy. 
  
 (e) Vacations and Holidays. Commencing as of the Effective Date, Employee shall be entitled to annual paid vacation and paid holidays (or, at Employer’s option, an equivalent number of paid days
off) in accordance with Employer’s respective standard policies, however, in no event shall Employee receive less than two (2) weeks’ paid vacation during any full year of the Term. 
  
 (f) Withholdings. All compensation provided to
Employee by Employer under this Section 7 shall be subject to applicable withholdings for federal, state or local income or other taxes, Social Security Tax, Medicare Tax, State Unemployment Insurance, State Disability Insurance, charitable
contributions and the like. 
  
 8. LICENSING
REQUIREMENTS. 
  
 (a) Employer
and Employee hereby covenant and agree that this Agreement may be subject to the approval of one or more gaming regulatory authorities (the “Authorities”) pursuant to the provisions of the relevant gaming regulatory statutes (the
“Gaming Acts”) and the regulations promulgated thereunder (the “Gaming Regulations”). Employer and Employee hereby covenant and agree to use their best efforts to obtain any and all approvals required by the Gaming
Acts and/or Gaming Regulations. In the event that (i) an approval of this Agreement by the Authorities is required for Employee to carry out his duties and responsibilities set forth in Section 3 of this Agreement, (ii) Employer and Employee have
used their best efforts to obtain such approval, and (iii) this Agreement is not so approved by the Authorities, then this Agreement shall immediately terminate and shall be null and void. 
  

 9 

 (b) If applicable, Employer and Employee hereby covenant and agree that, in order for
Employee to discharge the duties required under this Agreement, Employee must apply for or hold a license, registration, permit or other approval (the “License”) as issued by the Authorities pursuant to the terms of the relevant
Gaming Act and as otherwise required by this Agreement. In the event Employee fails to apply for and secure, or the Authorities refuse to issue or renew Employee’s License, Employee, at Employer’s sole cost and expense, shall promptly
defend such action and shall take such reasonable steps as may be required to either remove the objections or secure or reinstate the Authorities’ approval, respectively. The foregoing notwithstanding, if the source of the objections or the
Authorities’ refusal to renew or maintain Employee’s License arise as a result of any of the events described in Subsection 1(c) of this Agreement, then Employer’s obligations under this Section 8 also shall not be operative and
Employee shall promptly reimburse Employer upon demand for any expenses incurred by Employer pursuant to this Section 8. 
  
 (c) Employer and Employee hereby covenant and agree that the provisions of this Section 8 shall apply in the event Employee’s duties
require that Employee also be licensed by governmental agencies other than the Authorities. 
  
 9. CONFIDENTIALITY. Employee hereby warrants, covenants and agrees that, without the prior express written approval of Employer, Employee shall hold in the strictest confidence, and shall not
disclose to any person, firm, corporation or other entity, any and all of Employer’s confidential data, including but not limited to (a) information, drawings, sketches, plans or other documents concerning Employer’s business or
development plans, customers or suppliers or those of Employer’s Affiliates; (b) Employer’s or its Affiliates’ development, design, construction or sales and marketing methods or techniques; or (c) Employer’s trade secrets and
other “know-how” or information not of a public nature, regardless of how such information came to the custody of Employee. For purposes of this Agreement, such confidential information shall include, but not be limited to, information,
including a formula, pattern, compilation, program, device, method, technique or process, that (x) derives independent economic value, present or potential, from not being generally known to, and not being readily ascertainable by proper means by,
other persons who can obtain economic value from its disclosure or use and (y) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. The warranty, covenant and agreement set forth in this Section 9 shall not
expire, shall survive this Agreement, and shall be binding upon Employee without regard to the passage of time or other events. 
  

 10 

 10. RESTRICTIVE COVENANT/NO SOLICITATION. 
  
 (a) Employee hereby covenants and agrees that, during the
Term or for such longer period so long as Employer pays to Employee the compensation set forth in Subsection 7(a) of this Agreement, Employee shall not directly or indirectly, either as a principal, agent, employee, employer, consultant, partner,
member of a limited liability company, shareholder of a closely held corporation, or shareholder in excess of two (2%) per cent of a publicly traded corporation, corporate officer or director, manager, or in any other individual or representative
capacity, engage or otherwise participate in any manner or fashion in any business that is in competition in any manner whatsoever with the principal business activity of Employer or Employer’s Affiliates, in or about any market in which
Employer or Employer’s Affiliates have or have announced a plan to have hotel or gaming operations. Employee hereby further covenants and agrees that the restrictive covenant contained in this Section 10 is reasonable as to duration, terms and
geographical area and that the same protects the legitimate interests of Employer, imposes no undue hardship on Employee, and is not injurious to the public. 
  

(b) Employee hereby further covenants and agrees that, during the Term and for a period of one (1) year following the expiration of the
Term, Employee shall not directly or indirectly, and Employee shall not suffer others to, solicit or attempt to solicit for employment any management level employee of Employer or Employer’s Affiliates with or on behalf of any business that is
in competition in any manner whatsoever with the principal business activity of Employer or Employer’s Affiliates, in or about any market in which Employer or Employer’s Affiliates have or have announced a plan hotel or gaming operations.

  
 11. BEST EVIDENCE. This Agreement shall
be executed in original and “Xerox” or photostatic copies and each copy bearing original signatures in ink shall be deemed an original. 
  
 12. SUCCESSION. This Agreement shall be binding upon and inure to the benefit of Employer and Employee and their respective
successors and assigns. 
  
 13. ASSIGNMENT.
Employee shall not assign this Agreement or delegate his duties hereunder without the express written prior consent of Employer thereto. Any purported assignment by Employee in violation of this Section 13 shall be null and void and of no force or
effect. Employer shall have the right to assign this Agreement freely. 
  
 14. AMENDMENT OR MODIFICATION. This Agreement may not be amended, modified, changed or altered except by a writing signed by both Employer and Employee. 
  

 11 

 15. GOVERNING LAW. This Agreement shall be governed by and construed in accordance
with the laws of the State of Nevada, without regard to conflict of laws principles. 
  
 16. NOTICES. Any and all notices required under this Agreement shall be in writing and shall be either hand-delivered or mailed, certified mail, return receipt requested, addressed to: 

 

			
	 TO EMPLOYER:
	  	 Wynn Las Vegas, LLC

	 	  	 3145 Las Vegas Boulevard South

	 	  	 Las Vegas, Nevada 89109

		
	 WITH A COPY
	  	 Wynn Resorts, Limited

	 THAT SHALL NOT BE
	  	 3145 Las Vegas Boulevard South

	 NOTICE TO:
	  	 Las Vegas, Nevada 89109

	 	  	 Attn: Legal Department

		
	 TO EMPLOYEE:
	  	 David Sisk

	 	  	 10008 Laurel Springs

	 	  	 Las Vegas, Nevada 89134

  
 All notices hand-delivered shall be
deemed delivered as of the date actually delivered. All notices mailed shall be deemed delivered as of three (3) business days after the date postmarked. Any changes in any of the addresses listed herein shall be made by notice as provided in this
Section 16. 
  
 17. INTERPRETATION. The
preamble recitals to this Agreement are incorporated into and made a part of this Agreement; titles of paragraphs are for convenience only and are not to be considered a part of this Agreement. 
  
 18. SEVERABILITY. In the event any one or more
provisions of this Agreement is declared judicially void or otherwise unenforceable, the remainder of this Agreement shall survive and such provision(s) shall be deemed modified or amended so as to fulfill the intent of the parties hereto.

  
 19. DISPUTE RESOLUTION. Except for
equitable actions seeking to enforce the provisions of Sections 9 and 10 of this Agreement, jurisdiction and venue for which is hereby granted to the court of general trial jurisdiction in Las Vegas, Nevada, any and all claims, disputes, or
controversies arising between the parties hereto regarding any of the terms of this Agreement or the breach thereof, on the written demand of either of the parties hereto, shall be submitted to and be determined by final and binding arbitration held
in Las Vegas, Nevada, in accordance with Employer’s or Employer’s Affiliates’ arbitration policy governing employment disputes, or, in the absence of any such policy, as conducted by and in accordance with the employment dispute
resolution rules of the American Arbitration Association. This agreement to arbitrate shall be specifically enforceable in any court of competent jurisdiction. 
  

 12 

 20. WAIVER. None of the terms of this Agreement, including this Section 20, or any
term, right or remedy hereunder shall be deemed waived unless such waiver is in writing and signed by the party to be charged therewith and in no event by reason of any failure to assert or delay in asserting any such term, right or remedy or
similar term, right or remedy hereunder. 
  
 21.
PAROL. This Agreement constitutes the entire agreement between Employer and Employee, and supersedes any prior understandings, agreements, undertakings or severance policies or plans by and between Employer or Employer’s
Affiliates, on the one side, and Employee, on the other side, with respect to its subject matter or Employee’s employment with Employer or Employer’s Affiliates. 
  
 IN WITNESS WHEREOF AND INTENDING TO BE LEGALLY BOUND THEREBY, the parties hereto have executed and delivered
this Agreement as of the year and date first above written. 
  

					
	WYNN LAS VEGAS, LLC	 	EMPLOYEE
			
	 By:
	 	 /s/ Marc Schorr

	 	 /s/ David Sisk

	 Name:
	 	 Marc Schorr
	 	 David Sisk

	 Its:
	 	 Chief Executive Officer
	 	 

  

 13

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