Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - WYNN RESORTS LTD | wynn_8k.htm |
Exhibit
10.1
FIFTH
AMENDMENT TO
EMPLOYMENT
AGREEMENT
This
FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment") is entered into on
the 2nd day of February 2010, by and between Wynn Resorts, Limited
(“Employer”) and Matt
Maddox ("Employee"). Capitalized
terms that are not defined herein shall have the meanings ascribed to them in
the Agreement (as defined below).
RECITALS
WHEREAS,
Employer and Employee are party to that certain Employment Agreement, dated as
of October 1, 2005, by and between Wynn Las Vegas, LLC and Employee,
subsequently assigned to Employer, as amended by that certain First Amendment to
Employment Agreement, dated as of May 5, 2008, as further amended by that
certain Second Amendment to Employment Agreement, dated as of December 31, 2008,
and as further amended by that certain Amendment to Employment Agreement, dated
as of February 13, 2009, and Fourth Amendment to Employment Agreement dated
March 9, 2009 (collectively, the "Agreement"); and
WHEREAS,
the parties have agreed to amend the Agreement as provided herein;
NOW
THEREFORE, in consideration of the above and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties agree as follows:
1. Base
Salary. Section 7(a) of the
Agreement is amended to provide that effective November 6, 2009, Base Salary
paid to Employee shall be One Million Dollars per annum.
2. Other Provisions of
Agreement. The parties acknowledge that the Agreement is being
modified only as stated herein, and agree that nothing else in the Agreement
shall be affected by this Amendment.
IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as
of the date first written above.
|
WYNN
RESORTS, LIMITED
|
EMPLOYEE
|
|||
|
By:
|
/s/
Marc D. Schorr
|
/s/
Matt Maddox
|
||
|
|
Marc
D. Schorr, COO
|
Matt
Maddox
|
||