First Amendment to Employment Agreement, dated as of
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EX-10.7 5 2 7 ex10752-jacquikrumamendeda.htm EX-10.7 5 2 Document
FIRST AMENDMENT TO
EMPLOYMENT AGREEMENT
EMPLOYMENT AGREEMENT
This FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is entered into as of the 25th day of November, 2024, by and between WYNN RESORTS, LIMITED (“Employer”) and JACQUI KRUM (“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 have entered into that certain Employment Agreement, effective as of September 15, 2024 (the “Agreement”); and
WHEREAS, Employer and Employee desire to modify certain terms and conditions to the Agreement as more fully set forth herein;
NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth in the Agreement, the parties hereto agree as follows:
1.Amendment. Employer and Employee hereby agree to amend Section 3 of the Agreement in its entirety to read as follows:
3. DUTIES OF EMPLOYEE. Employee shall perform such duties assigned to Employee by Employer as are generally associated with the duties of Executive Vice President and General Counsel for Employer or such similar duties as may be assigned to Employee by Employer as Employer may determine. Employee’s duties shall include: (i) the efficient and continuous operation of Employer and any of its Affiliates; (ii) the preparation of relevant budgets and allocation of 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; (v) adherence to the policies and procedures of the Employer and any of its Affiliates as they may be amended from time to time without prior notice to Employee (unless such policies and procedures conflict with this Agreement, in which case this Agreement takes precedence) and for which Employee assumes responsibility for review and understanding; and (vi) such other and further duties as may be assigned by Employer to Employee from time to time, provided such duties are not inconsistent with Employee’s primary duties to Employer hereunder. The foregoing notwithstanding, Employee shall devote such time to Employer or its Affiliates as may be required by Employer.
Employee’s title, as set forth in this Paragraph 3, shall become effective on December 1, 2024. Employee shall maintain her title under the Prior Agreement until such date.
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 | ||||
/s/ Craig Billings | /s/ Jacqui Krum | ||||
Craig Billings, Chief Executive Officer | Jacqui Krum |