Document:

EX-10.13

 Exhibit 10.13 

EXECUTION VERSION 
 Work
Agreement #3 
 PROJECT NAME: Pay-as-Used Charges 

WORK AGREEMENT (“Work Agreement”) #: 3 
 This
Work Agreement is entered into by and between Studio City Services Limited and Studio City Entertainment Limited (each a “Studio City WA3 Party” and collectively, the “Studio City WA3 Parties”), on the one hand, and
MPEL Services Limited, Golden Future (Management Services) Limited and Melco Crown (Macau) Limited (each a “Melco Crown WA3 Party” and collectively, the “Melco Crown WA3 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:

 “Actual Usage Percentage” shall have the meaning set forth in Section 4.1(5) of this Work
Agreement. 
 “Commencement Date” shall mean the date of execution of this Work Agreement. 

“Computer Hardware Services” shall mean the services described in Section 2.4 of this Work
Agreement. 
 “Computer Software Services” shall mean the services described in Section 2.3 of
this Work Agreement. 
 “Estimated Usage Percentage” shall have the meaning set forth in
Section 4.1(5) of this Work Agreement. 
 “Hardware Estimated Usage Percentage” shall have the
meaning set forth in Section 4.1(4) of this Work Agreement. 
 “Monthly Computer Hardware Cost A”
shall mean the monthly running costs for computer hardware (including maintenance and insurance), plus a monthly capital cost equal to the monthly amortization expense for the computer hardware over its useful life (calculated on a straight-line
basis). 
 “Monthly Computer Hardware Cost B” shall mean the monthly running costs for computer hardware (including
maintenance and insurance), but not including amortization expense for the computer hardware over its useful life. 

“Parties” or “Party” means Melco Crown WA3 Parties, any Melco Crown WA3 Party, Studio City WA3 Parties or
any Studio City WA3 Party, as applicable. 

  
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 “Pass-Through Services” shall mean the services described in
Section 2.2 of this Work Agreement. 
 “Provider Cost” shall mean all out of pocket 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 costs of Service
Provider or its Affiliates’ employees, except as where otherwise provided, and with such adjustments as are provided in Section 4.1. 

“Provider Personnel Cost” shall mean for each employee or consultant of Service Provider or member of Service Provider Group
utilized to provide the Special Property Project Services (other than Service Provider Group corporate level personnel), all costs and expenses incurred or paid by the Service Provider or members of the Service Provider Group, including salary,
bonuses, monetary value of equity compensation, payroll taxes, employee related insurance and employee benefits. 
 “Service
Provider Group” shall mean Service Provider and those entities which are its Affiliates. 
 “Services” shall mean
the services described in Section 2, including Special Property Project Services, Pass-Through Services, Computer Software Services and Computer Hardware Services. 

“Shared Asset” or “Shared Assets” shall have the meaning set forth in Section 2.5
of this Work Agreement. 
 “Shared Asset Owner Buyout” shall have the meaning set forth in
Section 5.4(a) of this Work Agreement. 
 “Shared Asset User Buyout” shall have the meaning set
forth in Section 5.4(b) of this Work Agreement. 
 “Special Property Project Services” shall mean
the services described in Section 2.1 of this Work Agreement. 
 “Term” is defined in
Section 3.1 of this Work Agreement. 
 “Up-Front Computer Hardware
Capital Cost” shall mean the capital cost equal to the amortization expense for the computer hardware over its useful life (calculated on a straight- line basis). 

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

  
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 2. DESCRIPTION OF SERVICES 

Service Provider shall provide the following Services to the Service Recipient on an on-going basis
during the Term (as defined below): 
  

	2.1	Special Property Project Services: construction management services, together with the required administrative staff for Service Recipient’s construction and renovation projects, provided that Studio City
WA3 Parties may only be a Service Recipient of the Services described in this Section 2.1. 

  

	2.2	Pass-Through Services: 

  

	 	(a)	Engaging and monitoring external audit, taxation and legal advisers for their audit, taxation and legal services rendered to or for the Service Recipient and either arranging for the Service Recipient to pay directly or
paying professional service fees to such external auditors and legal advisers on Service Recipient’s behalf. 

  

	 	(b)	Obtaining insurance coverage on behalf of Service Recipient and either arranging for the Service Recipient to pay directly or paying insurance premiums and fees on Service Recipient’s behalf charged by insurance
companies providing insurance coverage to the Service Recipient. 

  

	 	(c)	Monitoring and administering legal proceedings on behalf of Service Recipient and either arranging for the Service Recipient to pay directly or paying on Service Recipient’s behalf settlements, fines and penalties
arising from or in connection with any legal or administrative proceedings against or involving the Service Recipient. 

  

	 	(d)	Engaging and using external recruitment agencies for employees to perform Services at Service Recipient facilities and either arranging for the Service Recipient to pay directly or paying agency service fees on Service
Recipient’s behalf payable to any external recruitment agencies for their recruitment services rendered to or for the benefit of Service Recipient. 

  

	 	(e)	Paying other third party fees and expenses reasonably incurred in the performance of services described herein on behalf of the Service Recipient, or arranging for the Service Recipient to pay directly.

 Studio City WA3 Parties may only be a Service Recipient of the Pass-Through Services. 

 

	2.3	Computer Software Services: Use of Service Provider’s computer software that is licensed by Service Provider for use in its properties. 

 

	2.4	Computer Hardware Services: Use of Service Provider’s computer hardware and associated equipment. 

  
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	2.5	Usage of Shared Assets: Melco Crown WA3 Parties and Studio City WA3 Parties may, where appropriate, share usage of certain equipment constituting capital assets where usage is generally predictable in proportion,
and for which shared rights to use are more cost-effective (each a “Shared Asset” and collectively, the “Shared Assets”). The ownership of such Shared Assets and percentage of use shall be agreed upon between the
relevant Parties at the time such Shared Asset is acquired, or at any relevant time in relation to previously-acquired assets. The owner of the Shared Asset (for these purposes, Service Provider) will grant the other party (for these purposes,
Service Recipient) the right to use the Shared Asset for the life of the Shared Asset and scheduling and priority of usage shall be agreed at the time the Shared Asset is agreed to be a Shared Asset and will be on
non-preferential terms (other than the agreed percentage of the right to use). 

  

	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 charged on the actual usage and incurrence in accordance with the following fee schedule: 

 

					
	 	  	 Type of Service
	  	 Fees

	1	  	Special Property Project Services	  	Provider Personnel Cost (determined by dividing the annual Provider Personnel Cost by the number of hours in a year contracted to be worked by the relevant personnel and multiplying that number by the number of hours expended in
rendering the Special Property Project Services) plus 5%.
			
	2	  	Pass-Through Services	  	Provider Cost
			
	3	  	Computer Software	  	The product of (i) the cost paid for the software license by Service Provider and (ii) a percentage equal to the estimated percentage of Service Recipient’s usage of such software, determined by reference to number of
users or, if agreed between the Service Provider and Service Recipient, another metric that is considered more appropriate for the relevant software (for example only, by percentage of hotel rooms covered in the case of allocation of costs for the
Property (Hotel) Management System).

  
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	 	  	 Type of Service
	  	 Fees

	4	  	Computer Hardware	  	 As agreed between the Project Managers, either:
  

(i)     the product of:

 
 (x)    Service
Provider’s Monthly Computer Hardware Cost A; and
  

(y)    a percentage equal to the estimated percentage of Service Recipient’s usage of such
hardware (the “Hardware Estimated Usage Percentage”) to be paid on a monthly basis; or
  

(ii)    the sum of:
  

(x)    the product of Up-Front Computer Hardware Capital
Cost and the Hardware Estimated Usage Percentage, as invoiced at the commencement of the relevant Computer Hardware Services; and
  

(y)    the product of Service Provider’s Monthly Computer Hardware Cost B and Hardware
Estimated Usage Percentage, to be paid on a monthly basis.

			
	5	  	Shared Assets	  	 A preliminary fee in an amount equal to the percentage of Service Provider’s cost of purchasing such asset multiplied by a percentage
equal to the estimated percentage of Service Recipient’s use of such asset (the “Estimated Usage Percentage”).
  

Any insurance or maintenance costs associated with the Shared Asset shall be shared in accordance with the relevant Estimated Usage Percentage.

 
 The Melco Crown WA3 Parties’ Project Manager shall provide the Chief Financial
Officer of SCIH, as part of the Quarterly Review Report for the last quarter of each year, a written report setting forth in detail the actual usage percentage of each Shared Asset by Service Recipient (the “Actual Usage
Percentage”) and providing a re-calculation of the fee and the sharing of maintenance costs on the basis of the Actual Usage Percentage

  
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	 Type of Service
	  	 Fees

		  	instead of the Estimated Usage Percentage and the net amounts owing among the Parties for use of the Shared Assets. The meeting of Project Managers pursuant to Section 3.2(f) of the Master Services Agreement shall
include a determination of what adjustments, credits or refunds are appropriate with respect to the fee for Shared Assets and the sharing of maintenance costs, and if they are unable to agree on the foregoing, the dispute will be resolved by
arbitration as set forth in Section 7.10 of the Master Services Agreement.

  

	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. 

 

	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 WA3 Parties upon the material breach by a Studio City WA3 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Melco Crown WA3 Parties of such breach, (iv) termination of
this Work Agreement by Studio City WA3 Parties upon the material breach by a Melco Crown WA3 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Studio City WA3 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 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	Upon termination, subject to Section 5.4 of the Master Services Agreement, all shared computer hardware and computer software services shall be dealt with as follows: 

 

	 	(a)	Service Provider shall assign where possible software licenses equivalent to the percentage paid by the Service Recipient to the Service Recipient. 

 

	 	(b)	Service Provider shall provide all reasonable assistance to the Service Recipient at the Service Recipient’s cost for it to transfer data and software which constitutes Studio City’s Intellectual Property (as
such term is defined in the Master Services Agreement) to computer hardware owned by the Service Recipient. 

  
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	 	(c)	With respect to any Up-Front Computer Hardware Capital Cost paid by Service Recipient for shared computer hardware assets, the fair market value shall be assessed and the Service
Provider shall pay the Service Recipient its share of the fair market value based on the relevant usage share charged to the Service Recipient. 

  

	5.4	Upon termination, all Shared Assets shall be dealt with as follows: 

  

	 	(a)	First, Service Provider may purchase Service Recipient’s interest in the Shared Asset for an amount equal to the product of the then current amortized book value of the Shared Asset (a “Shared Asset Owner
Buyout”) as recorded on the books of Service Provider by a percentage equal to the Actual Usage Percentage for the prior year; 

  

	 	(b)	If a Shared Asset Owner Buyout does not occur in accordance with (i) above within thirty days after the date of termination of this Work Agreement, Service Recipient may purchase the Shared Asset (a “Share
Asset User Buyout”) for a purchase price equal to the product of the then-current amortized book value of the Shared Asset as recorded on the books of Service Provider by a percentage equal to 100 minus the Estimated Usage Percentage; or

  

	 	(c)	If a Shared Asset User Buyout does not occur within thirty days after the expiration of the owner’s right to effect a Shared Asset Owner Buyout, then the Parties shall cooperate in the sale of the Shared Asset to a
third-party and the net proceeds (after costs of marketing and sales and taxes) of the sale multiplied by the Estimated Usage Percentage shall be paid to Service Recipient and the Service Provider shall retain the balance of the net proceeds.

  

	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 Services Limited and MPEL Services Limited. Upon such accession, such acceding Party
will be a Studio City WA3 Party or a Melco Crown WA3 Party, as the case may be, for the purposes of this Work Agreement. 
 [Signature
Page Follows] 

  
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	Studio City Services Limited
		
	By:	 	 /s/ Timothy Green NAUSS

	Title:	 	 Property CFO

	Date:	 	 December 21, 2015

	
	Studio City Entertainment Limited
		
	By:	 	 /s/ Timothy Green NAUSS

	Title:	 	 Property CFO

	Date:	 	 December 21, 2015

 [Signature Page to Work Agreement #3 –
Pay-as-Used Corporate Charges] 

			
	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

	
	Melco Crown (Macau) Limited
		
	By:	 	 /s/ CHUNG, Yuk Man

	Title:	 	 Director

	Date:	 	 December 21, 2015

 [Signature Page to Work Agreement #3 –
Pay-as-Used Corporate Charges]EX-10.14

 Exhibit 10.14 

EXECUTION VERSION 
 Work
Agreement #4 
 PROJECT NAME: Operational / Property Shared Services (Non-Gaming), Other Non- Gaming Charges 
 WORK AGREEMENT (“Work Agreement”) #: 4 

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 WA4 Party” and collectively, the “Studio City WA4 Parties”), on the one hand, and Melco Crown Hospitality
and Services Limited, Melco Crown (COD) Hotels Limited, Melco Crown (COD) Developments Limited, Melco Crown (COD) Retail Services Limited, Melco Crown Security Services Limited, Golden Future (Management Services) Limited, MPEL Services Limited and
MPEL Properties (Macau) Limited (each a “Melco Crown WA4 Party” and collectively, the “Melco Crown WA4 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. 

“DCW” shall mean the offices located at Av. Dr. Sun Yat Sen, Plaza Grande China, n.o
498-544, ‘A1’ ‘A2’ ‘B1’ ‘B2’ ‘C1’ ‘C2’ ‘D1’ ‘D2’, Taipa, Macau. 

“Flower City” shall mean the offices located at 1/F unit A1, 2/F units A2 and B2, Flower City Building, 199-207 Rua de Évora, Taipa, Macau. 
 “Group Resorts” shall mean Studio City
Complex and MCE Resorts. 
 “Information Technology Center” shall have the meaning described in
Section 2.4 of this Work Agreement. 
 “Monthly Office Usage Costs” shall mean, in relation to
any office (but irrespective of where such office is located), the amount of the monthly fees paid by the relevant Melco Crown Party to third parties for the use of the offices located at Flower City (or any other Offsite Offices substituted for
Flower City (in the event that Flower City ceases to be used by the relevant Melco Crown Party for whatever reason), as may be agreed by the Project Managers of both Service Provider and Service Recipient in good faith). 

“Office Amortized Costs” shall mean the out of pocket cost of personal computers, office software and IP phones amortized
over three years (calculated on a straight-line basis), if applicable. 

  
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 “Office Usage Costs” shall mean, for purposes of determining Other Costs, the
Monthly Office Usage Costs, out of pocket leasing costs (including leasing agent fees and commission), relevant costs for taxes and stamp duty, and office “fit-out” costs (amortized over the lower of
the office lease term and the useful lives of such fit-out items (and calculated on a straight-line basis)) allocated on a per-person basis. 

“Offsite Offices” means Flower City, DCW, or such other office premises outside of Studio City as the Melco Crown WA4 Parties
may determine from time to time, and the Information Technology Center. 
 “Offsite Warehouses” means: (a) in the case
of Melco Crown WA4 Parties, the warehouses located at (i) Level 1B, Level 2, 3, 4, 6 and 8, Zone 9 – 1, Zhuhai-Macao Cross Border Industrial Zone, Zhuhai Park, Zhuhai, People’s Republic of China and (ii) Est. Marginal I,
Verda Lote A, Gl06, Flat F, G & H, Edif Industrial, Macau (or such other warehouses outside of the Group Resorts as the Melco Crown WA4 Parties may determine from time to time); or (b) in the case of Studio City WA4 Parties,
such warehouses outside of the Studio City Complex as the Studio City WA4 Parties may determine from time to time. 
 “Operating
Expenses” shall mean office administrative expenses for consumables (e.g., paper, stationery, toner, general office supplies). 

“Other Costs” shall equal the sum of Office Amortized Costs, Office Usage Costs and Operating Expenses. 

“Parties” or “Party” means Melco Crown WA4 Parties, any Melco Crown WA4 Party, Studio City WA4 Parties or
any Studio City WA4 Party, as applicable. 
 “Percentage of Estimated Effort” shall mean the estimated effort, expressed as
a percentage of employee time, of Service Provider’s employees engaged in providing the Services, determined in good faith by Service Provider after consultation with the applicable department group head. 

“Percentage of Sales Target” shall mean the percentage of the total Sales Target represented by the Sales Target of the
Studio City property. 
 “Provider Personnel Cost” shall mean for each employee or consultant of Service Provider or member
of Service Provider Group utilized to provide the Services (other than Service Provider Group Chief Executive Officer and Corporate Executive Vice Presidents), all costs and expenses (including any currency and foreign exchange costs) incurred or
paid by the Service Provider or members of the Service Provider Group, including salary, bonuses, value of equity compensation, payroll taxes, employee related insurance and employee benefits. 

“Relevant Service” is defined in Section 6.1 of this Work Agreement. 

“Sales Target” shall mean the revenue targets of Group Resorts, established annually for the relevant sales teams and
expressed on a property by property basis. 
 “SCI Office Usage Costs” shall mean the Monthly Office Usage Costs allocated
on a per-person basis for each employee or consultant of the Service Recipient or Service Recipient Group who is providing Services for both the Service Provider Group and the Service Recipient Group and has
offices at Studio City. 

  
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 “Service Provider Group” shall mean Service Provider and those entities which
are its Affiliates. 
 “Service Recipient Group” shall mean Service Recipient and those entities which are its Affiliates.

 “Services” shall mean the services described in Section 2 of this Work Agreement. 

“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 (for the avoidance of doubt, such costs do not include the “loss of profit” or “loss of fee” resulting from the relevant termination of Service). 

“Studio City Complex” shall mean the integrated hotel resort located at Estrada do Istmo, Cotai in Macau. 

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

“Theoretical Revenue” is an amount tracked for a customer calculated by multiplying their bets by the win rate of the games
they play. 
 “Total Mall Leasable Area” shall be the proportion of the mall area of the Studio City Complex to the total
mall area in the Group Resorts. 
 “Visitor Agent Services” shall mean the services described in
Section 2.7 of this Work Agreement. 
 Capitalized terms not defined herein shall have the meaning set forth in
the Master Services Agreement. 
  

	2.	DESCRIPTION OF SERVICES 

  

	2.1	Shared Services. Service Provider shall provide and share certain services for the benefit of Service Recipient and its facilities in the following functional areas: 

 

	 	(a)	Property Operational (Non-Gaming): 

  

	 	(i)	Marketing—general marketing services, including but not limited to building marketing platforms, and producing collaterals, marketing campaigns and digital marketing; 

 

	 	(ii)	Food & Beverage Senior Management & Administration— management and planning of food and beverage operations;

  

	 	(iii)	Retail Senior Management & Administration—management of retail operations; 

  
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	 	(iv)	Hotel Senior Management & Administration—hotel development and pre-opening planning and assistance services;

  

	 	(v)	Sales—trade engagement and non-gaming sales activities; 

  

	 	(vi)	Entertainment Projects—entertainment development and event and attraction operations; 

  

	 	(vii)	Mall Development—retail mall partner management, tenant relationship, mall strategy and development planning; and 

 

	 	(viii)	Fitness Center – fitness center training services. 

  

	 	(b)	Venue Support & Property Shared Services: 

  

	 	(i)	Financial Planning and Analysis 

  

	 	•	 	assemble and produce periodic budgets and forecasts 

  

	 	•	 	conduct analysis of financial results, review of pro forma result projections for events and promotions, post-event and promotion analysis with input from the Studio City Parties 

 

	 	(ii)	Project and Fixed Assets Accounting 

  

	 	•	 	assist the Studio City Parties with the tabulation of fixed assets and calculation of applicable depreciation and amortization 

  

	 	•	 	assist the Studio City Parties with the maintenance of the database of fixed assets for the annual filing to be submitted to the Gambling Inspection and Coordination Bureau of Macau (DICJ) with respect to Studio City
Complex and property 

  

	 	(iii)	Non-Gaming Control and Compliance 

  

	 	•	 	provide a daily review, audit and posting to the general ledger of the non-gaming receipts of Studio City property 

 

	 	•	 	provide operation support and management oversight of all non- gaming outlet point-of-sale set up
and floats 

  

	 	•	 	conduct periodic audits 

  

	 	•	 	provide training of cashiers for non-gaming outlets 

  

	 	•	 	provide non-gaming credit management and accounts receivable services 

  

	 	•	 	provide oversight support over all non-gaming promotional vouchers and gift certificates issued 

  
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	 	(iv)	Entertainment Technology 

  

	 	•	 	provide entertainment technical setup and related services 

  

	 	•	 	provide maintenance services in the public area and arena and for meetings, events, conferences and exhibitions (MICE), attractions 

  

	 	(v)	Human Resources 

  

	 	•	 	administer employee intake and termination process 

  

	 	•	 	maintain employee databases, records and compliance documents 

  

	 	•	 	provide employee benefits administration 

  

	 	(vi)	Information Technology Services 

  

	 	•	 	provide system and infrastructure operations 

  

	 	•	 	provide the project management office and information technology management and administration services 

  

	 	(vii)	General Ledger & Tax 

  

	 	•	 	provide periodic property financial reports and detail supporting those reports 

  

	 	•	 	provide general ledger and tax bookkeeping services 

  

	 	(viii)	Accounts Payable 

  

	 	•	 	provide accounts payable functions on behalf of Service Recipient. Funding for all payments on behalf of Service Recipient to be funded fully by Service Recipient’s bank accounts 

 

	 	(ix)	Contact Center 

  

	 	•	 	provide call reservations and general customer service 

  

	 	(x)	Transportation 

  

	 	•	 	provide transportation management, supervisory and operations services (excluding any services directly related to limousine services and paid for pursuant to Work Agreement No. 5 or Work Agreement No. 8)

 provided that Studio City WA4 Parties may only be a Service Recipient of the Services described in this
Section 2.1. 

  
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	2.2	Dedicated Operational Services. Service Provider shall, solely for the benefit of Service Recipient and its facilities, provide certain additional dedicated operational services and resourcing not otherwise
provided under Section 2.1 or otherwise provided under any other work agreement or under any other agreement between members of the Service Recipient Group on the one hand and members of the Service Provider Group on the
other hand. Studio City WA4 Parties may only be a Service Recipient of the Services under this Section 2.2. 

  

	2.3	Macau Offsite Warehouse. Service Provider shall provide to Service Recipient use of certain areas within any of the Service Provider’s Offsite Warehouses that it may have from time to time on a space
available basis. 

  

	2.4	Information Technology Center. Service Provider shall provide to Service Recipient use of the information technology center located at Cyberport, Hong Kong (or elsewhere as may be from time to time determined by
the Service Provider at its sole discretion) and other mirror sites, if any (collectively “Information Technology Center”), for Studio City operations. Studio City WA4 Parties may only be a Service Recipient of the Services under
this Section 2.4. 

  

	2.5	SCI Shared Office Space. Service Provider shall provide Service Recipient with office space at Studio City for Service Recipient Group employees and consultants providing services to both Service Provider Group
and Service Recipient Group. Only Studio City WA4 Parties may be a Service Provider of the Services under this Section 2.5. 

  

	2.6	Cash Handling Assistance. Service Provider will assist Service Recipient with cash handling at the Studio City Complex, including issuing (from Service Recipient’s account to Service Recipient personnel),
collecting and securing non-gaming related cash as required from time to time, and collecting, counting and depositing in Service Recipient’s designated bank accounts
non-gaming related cash proceeds as required from time to time. Studio City WA4 Parties may only be a Service Recipient of the Services under this Section 2.6. 

 

	2.7	Visitor Agent Services: Engaging, using and making related payments to visitor agents (contracted by Melco Crown WA4 Parties) for the marketing of the Group Resorts. Studio City WA4 Parties may only be a Service
Recipient of the Services under this Section 2.7. 

  

	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: 

  
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	 	  	 Type of Service
	  	 Fees

	1	  	Shared Services
	(i)	  	Property Operational (Non-Gaming)
	a.	  	Marketing	  	Percentage of Estimated Effort of each group, multiplied by the Provider Personnel Cost of such group; plus Percentage of Estimated Effort of each group, multiplied by Other Costs of such group.
	b.	  	F&B Senior Management & Admin	  
	c.	  	Retail Senior Management & Admin	  
	d.	  	Hotel Senior Management & Admin	  
			
	e.	  	Sales	  	 Percentage of Sales Target multiplied by the applicable Provider Personnel Cost of the Sales Group; plus Percentage of Sales Target
multiplied by the Other Costs of the Sales Group.
  
 However, for the first year of this
Work Agreement, the Percentage of Sales Target shall include an additional 15% multiplier to reflect additional effort to be expended to create sales at Studio City; provided, however, that in respect of any period prior to the opening of
Studio City to the public the charge shall be based on Percentage of Estimated Effort.
  

	f.	  	Entertainment Projects	  	 Percentage of Estimated Effort by individual position multiplied by the Provider Personnel Cost of such individual; plus Percentage of
Estimated Effort by individual position, multiplied by Other Costs of such individual.
  

	g.	  	Mall Development	  	 Percentage of Total Mall Leasable Area multiplied by Provider Personnel Cost of the Mall Development Group, plus, Percentage of Total
Mall Leasable Area multiplied by Other Costs of the Mall Development Group.
  
 However,
prior to opening to the public of the retail expansion at City of Dreams Macau (which is, at the date of this Work Agreement under development), payment shall equal Percentage of Estimated Effort of the Mall Development Group multiplied by Provider
Personnel Cost of the Mall Development Group, plus Percentage of Estimated Effort of the Mall Development Group multiplied by Other Costs of the Mall Development Group.

  
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	 	  	 Type of Service
	  	 Fees

	h.	  	Fitness Center	  	Percentage of Estimated Effort.
	(ii)	  	Venue Support & Property Shared Services
	a.	  	Financial Planning & Analysis	  	Percentage of Estimated Effort of each group, multiplied by the Provider Personnel Cost of such group, plus Percentage of Estimated Effort of each group, multiplied by the Other Costs of such group.
	b.	  	Project & Fixed Asset	  
	c.	  	Non-Gaming Control	  
	d.	  	Entertainment Technology	  
	e.	  	Human Resources	  
	f.	  	IT Services	  	Percentage of IT services rendered to Service Recipient based on a metric that approximates Percentage of Estimated Effort (subject to a cap of 35%), multiplied by the Provider Personnel Cost of IT Services Group; plus
Percentage of IT services rendered to Service Recipient based on Estimated Effort, multiplied by the Other Costs of IT Services Group.
			
	h.	  	General Ledger & Tax	  	 Percentage of general ledger journal entries attributable to Service Recipient multiplied by the Provider Personnel Cost of General Ledger
and Tax Group; plus Percentage of general ledger journal entries attributable to Service Recipient multiplied by the Other Costs of General Ledger and Tax Group.
  

If agreed between Service Provider and Service Recipient, costs may alternatively be allocated based on Percentage of Estimated Effort.

			
	i.	  	Accounts Payable	  	Percentage of the total amounts of “Operating Costs”, “External Comps” and “Capital Expenditures” (each as shown in the monthly financial statements of City of Dreams, Altira, Mocha and Studio City
properties/business units) attributable to Service Recipient, multiplied by the Provider Personnel Cost of the Accounts Payable group, plus percentage of the dollar amount of accounts payable attributable to Service Recipient based on the
monthly financial statements of City of Dreams, Altira, Mocha and Studio City properties/business units, multiplied by the Other Costs of the Accounts Payable group.

  
 8 

					
	 	  	 Type of Service
	  	 Fees

		  		  	If agreed between Service Provider and Service Recipient, costs may alternatively be allocated based on Percentage of Estimated Effort.
			
	j.	  	Contact Center	  	Percentage of estimated call volumes attributable to Studio City multiplied by the Provider Personnel Cost of Contact Center; plus Percentage of estimated call volumes attributable to Studio City multiplied by the Other Costs of
Contact Center Group.
			
	k.	  	Transportation	  	Percentage of Estimated Effort of each group, multiplied by the Provider Personnel Cost of such group, plus Percentage of Estimated Effort of each group, multiplied by the Other Costs of such group.
	(iii)	  	Other Services
	1	  	Other (Non-Gaming) Charges
		  	Service Provider Dedicated Operational Services	  	Provider Personnel Cost.
	2	  	Other Charges
		  	Office Cost Credit	  	 The relevant Melco Crown WA4 Party will provide a credit to the Studio City WA4 Parties equal to the Office Usage Cost for the number of
office spaces that are unoccupied at Studio City.
  

		  	SCI Office Usage Costs	  	Service Recipient shall pay Service Provider the SCI Office Usage Costs.
			
		  	Office Warehouse Usage	  	Service Recipient shall pay Service Provider a monthly fee calculated as the square footage of warehouse space utilized by the Service Recipient multiplied by the Service Provider’s actual total cost per square foot of the
warehouse space. The actual total cost per square foot is calculated based on all the actual costs of providing the warehouse space including rental, maintenance and operating costs including but not limited to warehouse staff and
utilities.
			
		  	Cash Handling Assistance	  	No charge
			
		  	Visitor Agent Services	  	Service Recipient shall pay Service

  
 9 

					
	 	 	 Type of Service
	  	 Fees

		 		  	Provider a percentage of all relevant fees paid to each visitor agent, allocated to Service Recipient on the basis of the Theoretical Revenue of customers recommended by such visitor agents to Studio City Complex as a proportion of
the Theoretical Revenue of all customers introduced to Group Resorts by such agent.

  

	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. 

 

	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 WA4 Parties upon the material breach by a Studio City WA4 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Melco Crown WA4 Parties of such breach or (iv) termination of
this Work Agreement by Studio City WA4 Parties upon the material breach by a Melco Crown WA4 Party of this Work Agreement which remains uncured after thirty (30) days of written notice provided by Studio City WA4 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 a 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 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 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 adequate 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 fees under this Work Agreement accordingly. 

  
 10 

	6.2	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 WA4 Party or a Melco Crown WA4 Party, as the case may be, for the purposes of this Work Agreement. 
 [Signature
Page Follows] 

  
 11 

									
	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 #4 – Operational-Property Shared Services] 

									
	Melco Crown Hospitality and Services 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

			
	Melco Crown (COD) Hotels 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) Developments Limited	 		 	MPEL Properties (Macau) 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) Retail Services Limited	 		 		 	
					
	By:	 	 /s/ CHUNG, Yuk Man
	 		 		 	
	Title:	 	 Director
	 		 		 	
	Date:	 	 December 21, 2015
	 		 		 	
				
	Melco Crown Security Services Limited	 		 		 	
					
	By:	 	 /s/ CHUNG, Yuk Man
	 		 		 	
	Title:	 	 Director
	 		 		 	
	Date:	 	 December 21, 2015
	 		 		 	

 [Signature Page to Work Agreement #4 – Operational-Property Shared Services]

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