WYNN RESORTS LTD
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
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<TYPE>EX-10.83
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<DESCRIPTION>FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
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  <p align=right><font size="2" face="Times New Roman"><b>EXHIBIT 10.83</b></font></p> <p align="center"> <font size="2" face="Times New Roman"><b>FIRST AMENDMENT TO<br> EMPLOYMENT AGREEMENT</b></font></p> <p> <font
size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this &#147;<b>Amendment</b>&#148;) is entered into as of December 11, 2002, by and between Wynn Resorts,
Limited (&#147;<b>Employer</b>&#148;) and John Strzemp (&#147;<b>Employee</b>&#148;).&#160; Capitalized terms that are not defined herein shall have the meanings ascribed to them in the Agreement (as defined below).</font></p> <p align="center">
<font size="2" face="Times New Roman"><b>RECITALS</b></font></p> <p> <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Employer and Employee have entered into that certain Employment
Agreement, dated as of September 9, 2002 (the &#147;<b>Agreement</b>&#148;); and</font></p> <p> <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Agreement provides for Employer to pay
Employee a Base Salary of Four Hundred Fifty Thousand Dollars ($459,000.00) until the expiration date of October 31, 2004, unless the Base Salary is increased at the discretion of Employer&#146;s Board of Directors; and</font></p> <p> <font size="2"
face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Employer is willing and Employee desires to extend the Term of the Agreement on the terms and pursuant to the conditions set forth herein;</font></p> <p>
<font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth in this Amendment,
the parties hereto agree as follows:</font></p> <p> <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 6 of the Agreement is hereby
amended to read as follows:</font></p>
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<td width="95%" valign="top"> <p> <font size="2"
face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><u>TERM</u></b>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
sooner terminated as provided in this Agreement, the Term of the Agreement shall commence on the Effective Date and terminate at the end of the day on October 31, 2005.&#148;</font></p> </td> </tr> </table> <p><font size="2"
face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective November 1, 2002, Subsection 8(a) of the Agreement is hereby amended to read as follows:
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<td width="94%" valign="top"> <p> <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><u>BASE
SALARY</u></b>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 Five Hundred Nine
Thousand Dollars ($509,000.00) per annum during the Term, payable in such weekly, bi-weekly or semi-monthly installments as shall be convenient to Employer (the &#147;<b>Base Salary</b>&#148;).&#160; Employee&#146;s 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, those benefits described in Subparagraphs&nbsp;8(b) through (e) of this Agreement.&#160; Employee&#146;s
Base Salary shall be subject to merit review by Employer&#146;s Board of Directors periodically, and may be increased, but not decreased, as a result of any such review.&#148;</font></p> </td> </tr> </table> <p align="center"> <font size="2"
face="Times New Roman">- 1 -</font></p>

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  <p> <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Provisions of Original Letter of Intent</u>.
&#160;Notwithstanding any of the foregoing, the parties hereto 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.&#160; Specifically, nothing in
this Amendment is intended to alter the vesting date of any restricted stock heretofore granted or promised to be granted by Employer to Employee.</font></p> <p> <font size="2"
face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date first written above.</font></p>
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<td width="50%" colspan="2" valign="top"> <p><font size="2" face="Times New Roman"><b>W<small>YNN</small> R<small>ESORTS</small>, L<small>IMITED</small></b></font></p> </td>
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<td width="47%" valign="top"> <p><font size="2" face="Times New Roman"><b>EMPLOYEE</b></font></p> </td> </tr>
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<td width="3%" valign="top"> <p><font size="2" face="Times New Roman">By:</font></p> </td>
<td width="46%" valign="top"> <p align="center"><font size="2" face="Times New Roman">/s/ M<small>ARC</small> D. S<small>CHORR</small></font></p> </td>
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<td width="47%" valign="top"> <p align="center"><font size="2" face="Times New Roman">/s/ J<small>OHN</small> S<small>TRZEMP</small></font></p> </td> </tr>
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<td width="46%" valign="top"> <p align="center"><font size="1" face="Times New Roman"><b>Marc D. Schorr<br> Chief Operating Officer</b></font></p> </td>
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<td width="47%" valign="top"> <p align="center"><font size="1" face="Times New Roman"><b>John Strzemp</b></font></p> </td> </tr> </table> <p align="center"><font size="2" face="Times New Roman">- 2 -</font></p>
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