Second Amendment to MGM Resorts Deferred Compensation Plan II
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Summary
This amendment, effective November 1, 2022, modifies the MGM Resorts Deferred Compensation Plan II. It clarifies that any changes to the plan's Measurement Funds will take effect as soon as possible after participants are notified in writing, unless advance notice is not feasible, in which case notice will be given as soon as possible. The amendment is executed by MGM Resorts International and does not reduce or restrict participants' vested account balances.
EX-10.4(5) 3 exhibit1045-q42022.htm EX-10.4(5) Document
Exhibit 10.4(5)
EXHIBIT A
AMENDMENT NUMBER TWO
TO THE MGM RESORTS
DEFERRED COMPENSATION PLAN II
WHEREAS, Section 11.2 of the MGM Resorts Deferred Compensation Plan II, as amended and restated effective December 17, 2014 (the "Plan"), provides that the Committee (as defined in the Plan) may amend the Plan in whole or in part, provided that no amendment or modification shall decrease or restrict the value of a Plan participant's vested account balance at the time of such amendment or modification; and
WHEREAS, the Committee desires to amend the Plan in order to provide that changes made to the Measurement Funds (as defined in the Plan) pursuant to Section 3.8(c) of the Plan shall take effect as soon as administratively practicable after the Committee provides written notice of such change to Plan participants.
NOW THEREFORE, effective November 1, 2022, the Plan is hereby amended as follows:
The third sentence of Section 3.8(c) of the Plan is hereby deleted and replaced with the following:
"Each such action will take effect as soon as administratively practicable after the Committee gives Participants advance written notice of such change, unless such advance notice cannot be given due to reasons beyond the control of the Committee, in which case notice of the change shall be given as soon as administratively practicable."
IN WITNESS WHEREOF, this Amendment is executed by a duly authorized officer as of the date set forth below.
MGM RESORTS INTERNATIONAL
By: | /s/ Shawn Sani | Date: | 11/08/2022 | |||||||||||
Its: | Chief Tax Officer |