MGM MIRAGE
EX-10
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<TYPE>EX-10
<SEQUENCE>2
<FILENAME>p13715exv10.htm
<DESCRIPTION>EX-10
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<TITLE>exv10</TITLE>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PURCHASE AGREEMENT</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>BY AND AMONG</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THE MIRAGE CASINO-HOTEL,</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>AS SELLER,</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>TREASURE ISLAND CORP.,</B>

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<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>AS THE COMPANY</B>

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<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>AND</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>RUFFIN ACQUISITION, LLC,</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>AS PURCHASER</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>DATED AS OF DECEMBER 13, 2008</B>

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<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><u><B>TABLE OF CONTENTS</B></u>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>PAGE</B></TD>
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<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ARTICLE I </B>DEFINITIONS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ARTICLE II </B>PURCHASE AND SALE OF EQUITY INTERESTS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;2.1 Purchase and Sale of Equity Interests</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;2.2 Retained Property</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;2.3 Additional Property</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ARTICLE III </B>CLOSING; PURCHASE PRICE</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;3.1 Closing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;3.2 Deliveries at Closing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;3.3 Purchase Price Payment at Closing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;3.4 Calculation of Closing Date Purchase Price</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;3.5 Adjustment Procedures to the Closing Date Purchase Price</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;3.6 Calculation and Payment of Final Purchase Price</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ARTICLE IV </B>REPRESENTATIONS AND WARRANTIES OF SELLER</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.1 Organization and Qualification</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.2 Ownership of Equity Interests</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.3 Authority; No Conflict; Required Filings and Consents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.4 Financial Information</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.5 No Undisclosed Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.6 Absence of Certain Changes or Events</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.7 Taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.8 Real Property</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.9 Tangible Personal Property</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.10 Intellectual Property</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.11 Contracts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.12 Litigation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.13 Environmental Matters</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.14 Employee Benefit Plans</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.15 Compliance with Applicable Laws</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.16 Labor Matters</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.17 Compliance with the WARN Act</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.18 Indebtedness</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.19 Insurance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.20 Internal Controls and Procedures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.21 Brokers</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.22 Solvency; Sufficient Capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.23 Sufficiency of Assets and Contracts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.24 &#091;Intentionally omitted&#093;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.25 Receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
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<P align="center" style="font-size: 10pt"><!-- Folio -->i<!-- /Folio -->
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><u><B>TABLE OF CONTENTS</B></u>
</DIV>


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    <TD width="88%">&nbsp;</TD>
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    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
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    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>PAGE</B></TD>
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    <TD><DIV style="margin-left:30px; text-indent:-15px">Seller has delivered to Purchaser a complete, accurate and current copy of a list and
the aging of the accounts receivable and casino collection receivables, by
customer, of the Company that were outstanding as of October&nbsp;31, 2008. All
accounts receivable and casino collection receivables (a)&nbsp;arise out of <I>bona fide</I>
sales and deliveries of goods, performance of services or other transactions in
connection with the business and represent income earned in the Ordinary Course of
Business, and (b)&nbsp;are not subject to material defenses, setoffs or counterclaims to
the knowledge of the MGM Entities, other than normal allowances. Unless paid prior
to the Closing Date, the accounts receivable and casino collection receivables of
the Company are expected to be collected in the Ordinary Course of Business, net of
the reserves set forth on the balance sheet of the
Company as of October&nbsp;31, 2008.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.26 &#091;Intentionally omitted&#093;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.27 Knowledge</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.28 Nevada Takeover Statutes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.29 Projections</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ARTICLE V </B>REPRESENTATIONS AND WARRANTIES OF PURCHASER</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.1 Organization of Purchaser</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.2 Ownership</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.3 Authority; No Conflict; Required Filings and Consents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.4 Brokers</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.5 Licensing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.6 Litigation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.7 Availability of Funds</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.8 No Breach</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.9 Knowledge</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.10 Investment Intent</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ARTICLE VI </B>COVENANTS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.1 Conduct of Business of the Company</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.2 Cooperation; Notice; Cure</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.3 Access to Information</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.4 Confidentiality of Information</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.5 Intercompany Account Settlement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.6 Governmental Approvals</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.7 Performance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.8 Publicity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.9 Intellectual Property &#151; General</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.10 Intellectual Property &#151; Post-Closing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.11 Employees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.12 Transitional Services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.13 Termination of Affiliate Contracts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->ii<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><u><B>TABLE OF CONTENTS</B></u>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>PAGE</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.14 Termination Fee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.15 Capital Expenditures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.16 Release of Guaranties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.17 Further Assurances and Actions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.18 FCC Approvals</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.19 No Control</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.20 Liability for Non-Compliance with WARN Act</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.21 HSR Filing Fee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.22 Records Retention</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.23 Existing Parcel; Subdivision; Conveyance of Treasure Island Property;
Reciprocal Easements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.24 Consents and Estoppel Certificates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.25 Myst&#232;re</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.26 No Acquisition Solicitation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.27 Conversion</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.28 Non-Solicitation of Exclusive Customers</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.29 Non-Solicitation of Employees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.30 Water Rights</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.31 Post-Closing Subdivision, Conveyance of Treasure Island Property,
Recordation of Reciprocal Easements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ARTICLE VII </B>CONDITIONS TO CLOSING</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">65</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;7.1 Conditions of the Parties&#146; Obligations to Effect the Closing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">65</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;7.2 Additional Conditions to Obligation of the MGM Entities to Effect the
Closing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">66</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;7.3 Additional Conditions to Obligation of Purchaser to Effect the Closing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">66</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ARTICLE VIII </B>INDEMNIFICATION; REMEDIES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;8.1 Survival; Right to Indemnification Not Affected by Knowledge</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;8.2 Indemnification</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;8.3 Indemnification Procedures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ARTICLE IX </B>TAX MATTERS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.1 Tax Indemnification</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.2 Preparation and Filing of Tax Returns and Payment of Taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">73</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.3 Accounting and Tax Records</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.4 Tax Audits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.5 Tax Treatment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">75</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.6 Refunds and Tax Benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">75</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.7 Treatment as Asset Sale</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">76</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.8 Tax Sharing Contracts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">77</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.9 Timing of Payments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">77</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.10 Conflicts; Survival</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">77</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->iii<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><u><B>TABLE OF CONTENTS</B></u>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>PAGE</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ARTICLE X </B>TERMINATION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">77</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;10.1 Termination of Agreement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">77</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;10.2 Effect of Termination</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">78</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ARTICLE XI </B>MISCELLANEOUS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">79</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.1 Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">79</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.2 Notices</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">79</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.3 Interpretation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">80</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.4 Governing Law</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">80</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.5 Consent to Jurisdiction and Venue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">80</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.6 Time of the Essence</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.7 Assignment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.8 Amendment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.9 Extension; Waiver</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.10 No Third Party Beneficiaries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.11 Entire Agreement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">82</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.12 Severability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">82</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.13 Counterparts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">82</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.14 Limitation of Liability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">82</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.15 Disclosure Schedules</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">82</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Schedule&nbsp;1A &#151; Software<BR>
Schedule&nbsp;1B &#151; Used Intellectual Property<BR>
Schedule&nbsp;2.2 &#151; Retained Property<BR>
Schedule&nbsp;2.3 &#151; Additional Property<BR>
Schedule&nbsp;6.1 &#151; Ordinary Course of Business Exceptions<BR>
Schedule&nbsp;6.3(c) &#151; Access to Information<BR>
Schedule&nbsp;6.12 &#151; List of Transitional Services<BR>
Schedule&nbsp;6.23(b) &#151; Subdivision Map

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->iv<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><u><B>TABLE OF CONTENTS</B></u>
</DIV>
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>PAGE</B></TD>
    <TD>&nbsp;</TD>
</TR>
</table>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Schedule&nbsp;7.1(c) &#151; Government Approvals
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Exhibit&nbsp;A-1 &#151; Seller Note<BR>
Exhibit&nbsp;A-2 &#151; Seller Note<BR>
Exhibit&nbsp;B &#151; Collateral Documents<BR>
Exhibit&nbsp;C &#151; REA Term Sheet<BR>
Exhibit&nbsp;D &#151; Replacement Ground Lease<BR>
Exhibit&nbsp;E &#151; Subdivision Guaranty

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Seller Disclosure Schedule

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Purchaser Disclosure Schedule

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->v<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>PURCHASE AGREEMENT</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS PURCHASE AGREEMENT (this &#147;<U>Agreement</U>&#148;), dated as of December&nbsp;13, 2008, is by and
among THE MIRAGE CASINO-HOTEL, a Nevada corporation (&#147;<U>Seller</U>&#148;), and TREASURE ISLAND CORP.,
a Nevada corporation (the &#147;<U>Company</U>&#148;), on the one hand, and RUFFIN ACQUISITION, LLC, a
Nevada limited liability company (&#147;<U>Purchaser</U>&#148;), on the other hand.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Seller is the sole stockholder of the Company and an indirect wholly owned subsidiary
of MGM MIRAGE, a Delaware corporation;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Seller desires to sell, and Purchaser desires to purchase, the Equity Interests of
the Company for the consideration and on the terms set forth in this Agreement;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Seller would not enter into this Agreement with Purchaser unless Phillip Ruffin, an
individual (&#147;<U>Purchaser Parent</U>&#148;), guarantees the obligations, if any, of Purchaser to pay
the Seller Termination Fee pursuant to the terms and conditions hereof, such guaranty to go into
effect concurrently with the execution of this Agreement, and Purchaser Parent desires to enter
into the Purchaser Guaranty as Purchaser Parent will derive benefits from Purchaser entering into
this Agreement; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, capitalized terms used herein and not otherwise defined shall have the meanings set
forth in Article&nbsp;I hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, IN CONSIDERATION of the foregoing and the respective representations,
warranties, covenants, obligations and agreements set forth below, the Parties agree as follows:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE I</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>DEFINITIONS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&#147;</U>2007 Audited Financials<U>&#148; shall have the meaning ascribed in </U>Section
4.4<U>.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&#147;Acquisition Proposal</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.26(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Actual Working Capital</U>&#148; shall mean the Working Capital of the Company as of the
Closing Date as set forth in the Company&#146;s Final Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Additional Property</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;2.3</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Affiliate</U>&#148; means, with respect to any specified Person, any other Person that
directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under
common control with, such specified Person. For purposes of this definition, &#147;control&#148; (including
the terms &#147;controlled by&#148; and &#147;under common control with&#148;) with respect to the relationship between
or among two or more Persons, means the possession, directly or indirectly or as a trustee or
executor, of the power to direct or cause the direction of the management and policies
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">of a Person through the ownership of voting securities having the power to elect a majority of
the board of directors or similar body or Person governing the management and policies of such
Person; provided, however, that notwithstanding the foregoing, in no event shall the term
Affiliate, when used in the context of Seller or Parent, include the majority shareholder of Parent
or any entities owned or controlled by or under common control with, the majority shareholder of
Parent, other than Parent and each subsidiary of Parent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Affiliate Contracts</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;4.11(b)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Agreement</U>&#148; shall have the meaning ascribed in the preamble.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Asset Allocation Statement</U>&#148; shall have the meaning ascribed in <U>Section
9.7(b)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Assigned Intellectual Property</U>&#148; means that Used Intellectual Property, the ownership
of which will be assigned to the Company at or prior to Closing, as more particularly identified on
<U>Schedule&nbsp;2.3</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Atlandia</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.30</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Business Day</U>&#148; means any day that is not a Saturday, Sunday or other day on which
banks are required or authorized by Law to be closed in the State of Nevada.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Certificated Water Rights</U>&#148; shall have the meaning ascribed in Section&nbsp;6.30.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Claim Notice</U>&#148; means written notification pursuant to <U>Section&nbsp;8.3(a)</U> of a
Third Party Claim as to which indemnity under <U>Section&nbsp;8.2</U> is sought by an Indemnified
Party, enclosing a copy of all papers served, if any, and specifying the nature of and basis for
such Third Party Claim and for the Indemnified Party&#146;s claim against the Indemnifying Party under
<U>Section&nbsp;8.2</U>, together with the amount or, if not then reasonably determinable, the
estimated amount, determined in good faith, of the Loss arising from such Third Party Claim.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Cleanup</U>&#148; means all actions required to (a)&nbsp;cleanup, remove, treat or remediate
Hazardous Materials in the indoor or outdoor environment in accordance with Environmental Laws, (b)
perform pre-remedial studies and investigations and post-remedial monitoring and care or (c)
respond to any requests by a Governmental Entity for information or documents relating to cleanup,
removal, treatment or remediation or potential cleanup, removal, treatment or remediation of
Hazardous Materials in the indoor or outdoor environment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Closing</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;3.1</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Closing Date</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;3.1</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Closing Date Cash Purchase Price</U>&#148; shall mean the Closing Date Purchase Price, less
the face amount of the Seller Notes, if any, issued by Purchaser at Closing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Closing Date Purchase Price</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;3.4</U>.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Code</U>&#148; means the Internal Revenue Code of 1986, as amended from time to time,
including the rules and regulations promulgated thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Commercially Reasonable Efforts</U>&#148; means the efforts that a prudent Person desirous of
achieving a result would use in similar circumstances.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Company</U>&#148; shall have the meaning ascribed in the preamble, and shall include said
Company after it is converted to a limited liability company pursuant to the Conversion.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Company Balance Sheet</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;4.4</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Company Employees</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.11(d)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Confidentiality Agreement</U>&#148; means the Confidentiality Agreement previously entered
into by and between Purchaser Parent and Parent, as amended from time to time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Consumable Items</U>&#148; means all foodstuffs and nonalcoholic beverages that are located at
the Real Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Contract</U>&#148; means any agreement, undertaking, obligation or understanding, whether
written or oral, or subject to conditions, including any commitment, letter of intent, mortgage,
indenture, note, loan, guarantee, lease, sublease, license, contract, deed of trust, option
agreement, right of first refusal, security agreement, development agreement, operating agreement,
management agreement, service agreement, partnership agreement, joint venture agreement, limited
liability agreement, put/call arrangement, purchase, sale, merger or other agreement, together with
any amendments or modifications thereto and restatements thereof; <U>provided</U> <U>that</U>
Contracts do not include Leases respecting Leased Real Property or Tenant Leases.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Conversion</U>&#148; shall have the meaning ascribed in Section&nbsp;6.27.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Copyrights</U>&#148; means all works protectible under the Copyright Act of 1976, 17. U.S.C.
101 (as amended), whether registered or unregistered, including related moral rights and rights of
attribution and integrity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Current Assets</U>&#148; means, in respect of the Company and as of any applicable date in
question, (a)&nbsp;all assets of the Company that should be classified as current in accordance with
GAAP, plus, to the extent not otherwise included, (b)&nbsp;all assets of the Company that are classified
as current in accordance with the historical practices of the Company in the preparation of its
financial statements, and (c)&nbsp;any Additional Property (other than net fixed assets) reflected on
the books of an Affiliate but not reflected on the books of the Company, less (x)&nbsp;all accounts
receivable of the Company from its Affiliates to the extent classified as current and (y)&nbsp;any
Retained Property reflected on the books of the Company to the extent classified as current. For
the avoidance of doubt, Current Assets includes, with respect to the Company, among other things,
cash in bank accounts (excluding credit balances/book overdrafts), cash on hand in the cage, on the
gaming floor, in retail outlets, in food and beverage outlets owned by the Company and elsewhere
within the Company&#146;s business, casino, hotel and other receivables net of adequate allowances (for
example, allowances for doubtful accounts), inventories of food,
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">beverage, retail merchandise, supplies and other items, and prepaid expenses (including
deposits classified as current).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Current Liabilities</U>&#148; means, in respect of the Company and as of any applicable date
in question, all liabilities of the Company that should be classified as current in accordance with
GAAP, plus, to the extent not otherwise included, all liabilities of the Company that are
classified as current in accordance with the historical practices of the Company in the preparation
of its financial statements, less all accounts payable of the Company to its Affiliates to the
extent classified as current. For the avoidance of doubt, Current Liabilities shall include, among
other things, credit balances (book overdrafts) in cash in bank accounts, all outstanding chips and
tokens net of those previously recognized as income, progressive slot machine liability, table
games progressive jackpot liability, and unpaid keno tickets, unredeemed race and sports book
wagers and such other obligations that may arise that are similar to the foregoing, all in
accordance with posted rules, if applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Customer</U>&#148; shall have the meaning ascribed within the definition of &#147;<U>Customer
List</U>&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Customer List</U>&#148; means a compilation of information regarding individual players,
customers or patrons who have had their table or slot play tracked at the Company&#146;s business within
eighteen (18)&nbsp;months prior to the Closing Date, and, with respect to the foregoing, appears within
the Players Club (&#147;<U>Customers</U>&#148;). The Customer List shall distinguish between those
Customers who have also had their table or slot play tracked at the business of any other MGM Group
Property (&#147;<U>Shared Customers</U>&#148;) and those who have not (&#147;<U>Exclusive Customer</U>s&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>DCP II</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.11(b)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Deed</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.23(c)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Disclosure Schedules</U>&#148; means the Seller Disclosure Schedule and the Purchaser
Disclosure Schedule.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Dispute Notice</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;3.5(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Dispute Period</U>&#148; means the period ending thirty days following receipt by an
Indemnifying Party of either a Claim Notice or an Indemnity Notice.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Domain Names</U>&#148; means any alphanumeric designation registered with any domain name
register for use as a Universal Resource Locator or other electronic address for a web site on the
Internet.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Encumbrance</U>&#148; means any security interest, pledge, mortgage, option, lien (including
environmental and Tax liens), assessment, lease, charge, encumbrance, adverse claim, preferential
arrangement, equitable interest, right of first refusal or restriction of any kind, including any
restriction on the use, voting, transfer, receipt of income or other exercise of any attributes of
ownership, other than (a)&nbsp;Permitted Exceptions and (b)&nbsp;security interests created as of the Closing
Date pursuant to the collateral documents relating to the Seller Notes as contemplated by
<U>Section&nbsp;2.1</U>.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Environmental Claim</U>&#148; means any claim, action, or cause of action by any Person, or
investigation by a Governmental Entity, alleging Liability (including Liability for Cleanup costs,
governmental response costs, investigation costs, natural resources damages, property damages, or
personal injuries) arising out of, based on, or resulting from, (a)&nbsp;the presence, Release or
threatened Release of any Hazardous Materials at a location, currently or formerly owned or
operated by the Company or at any third party location where the Company sent, or caused to be
sent, Hazardous Materials or (b)&nbsp;any violation, or alleged violation, of any Environmental Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Environmental Laws</U>&#148; means all federal, state and local Laws relating to pollution or
protection of human health or the environment, including Laws relating to Releases or threatened
Releases of Hazardous Materials, the manufacture, processing, distribution, use, treatment,
storage, Release, transport or handling of Hazardous Materials, record keeping, notification,
disclosure and reporting requirements respecting Hazardous Materials.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Equity Interests</U>&#148; means one hundred percent of the issued and outstanding capital
stock of, or members&#146; interests in, the Company, as applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>ERISA</U>&#148; means the Employee Retirement Income Security Act of 1974, as amended from
time to time, including the rules and regulations promulgated thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>ERISA Affiliate</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;4.14(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Estimated Working Capital</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;3.4</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Estimated Working Capital Statement</U>&#148; shall have the meaning ascribed in <U>Section
3.4</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Exclusive Customers</U>&#148; shall have the meaning ascribed within the definition of
&#147;Customer List&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Exempt Acquisition Proposal</U>&#148; shall have the meaning ascribed in <U>Section
6.26(b)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Existing Parcel</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(a).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>FCC</U>&#148; means the Federal Communications Commission.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>FF&#038;E</U>&#148; means all furniture, fixtures and equipment owned or leased by the Company in
connection with its businesses, including floor coverings, pictures, and furniture located within
the Company&#146;s Real Property, and all Operating Equipment, and all other equipment used in the
operation of the casino, kitchens, dining rooms and bars, cleaning equipment, office equipment,
machinery, vehicles, computers and other data processing hardware, special lighting and other
equipment of a like nature, with such additions and deletions as may occur in the Ordinary Course
of Business.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Final Purchase Price</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;3.6</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Final Statement</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;3.5(a)</U> and
<U>Section&nbsp;3.5(b)</U>.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>GAAP</U>&#148; means United States generally accepted accounting principles and practices as
in effect from time to time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Gaming Authorities</U>&#148; means, collectively, (a)&nbsp;the Nevada Gaming Commission, (b)&nbsp;the
Nevada State Gaming Control Board, (c)&nbsp;the Clark County Gaming and Liquor Licensing Board, and (d)
any other Governmental Entity that holds regulatory, licensing or permit authority over gambling,
gaming or casino activities conducted or proposed to be conducted by the MGM Entities or any of
their Affiliates within its jurisdiction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Gaming Laws</U>&#148; means any federal, state, local or foreign statute, ordinance, rule or
regulation governing or relating to the ownership of the Company and the gambling, gaming or casino
activities and operations of the MGM Entities or any of their Affiliates, in each case as amended,
from time to time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Gaming Licenses</U>&#148; means all licenses, permits, approvals, authorizations,
registrations, findings of suitability, waivers and exemptions, including any condition or
limitation placed thereon, that are necessary for the Company to own and operate its gaming
facilities and related amenities issued under the applicable Gaming Laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Governmental Approvals</U>&#148; means all (a)&nbsp;Gaming Licenses, Liquor Licenses and any other
permit, license, certificate, franchise, concession, approval, consent, ratification, permission,
clearance, confirmation, endorsement, waiver, certification, filing, franchise, notice, variance,
right, designation, rating, registration, qualification, authorization or order that is or has been
issued, granted, given or otherwise made available by or under the authority of any Governmental
Entity or pursuant to any Law and (b)&nbsp;rights under any Contract with any Governmental Entity that
relates to or is used in a Person&#146;s business or operations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Governmental Entity</U>&#148; means any (a)&nbsp;nation, principality, state, commonwealth,
province, territory, county, municipality, district or other jurisdiction of any nature anywhere in
the world, (b)&nbsp;governmental or quasi-governmental entity of any nature, including any governmental
division, subdivision, department, agency, bureau, branch, office, commission, council, board,
instrumentality, officer, official, representative, organization, taxing authority or unit and any
court or other tribunal (foreign, federal, state or local), or (c)&nbsp;Person, or body exercising, or
entitled to exercise, any executive, legislative, judicial, administrative, regulatory, police,
military or taxing authority or power of any nature, including the Gaming Authorities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Governmental Order</U>&#148; means any order, writ, judgment, injunction, decree, stipulation,
determination, or award entered by or with any Governmental Entity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Hazardous Materials</U>&#148; means any and all petroleum products or distillates, fractions
or wastes, asbestos-containing materials, urea formaldehyde foam, friable asbestos, toxic mold,
heavy metals, radioactive materials or wastes and other wastes, materials, chemicals or substances
regulated pursuant to any applicable Environmental Laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>HSR Act</U>&#148; means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended
from time to time, including the rules and regulations promulgated thereunder.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Improvements</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;4.8(e)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Indebtedness</U>&#148; means, with respect to a Person without duplication, (a)&nbsp;all
indebtedness for borrowed money, (b)&nbsp;all indebtedness for the deferred purchase price of property
or services (other than property, including inventory, and services purchased, trade payables,
other expense accruals and deferred compensation items arising in the Ordinary Course of Business),
(c)&nbsp;all obligations evidenced by notes, bonds, debentures or other similar instruments (other than
performance, surety and appeal bonds arising in the Ordinary Course of Business in respect of which
such Person&#146;s liability remains contingent), (d)&nbsp;all indebtedness created or arising under any
conditional sale or other title retention agreement with respect to property acquired (even though
the rights and remedies of the seller or lender under such agreement in the event of default are
limited to repossession or sale of such property), (e)&nbsp;all obligations under leases that have been
or should be, in accordance with GAAP, recorded as capital leases, (f)&nbsp;all reimbursement, payment
or similar obligations, contingent or otherwise, under acceptance, letter of credit or similar
facilities, (g)&nbsp;all indebtedness of others referred to in clauses (a)&nbsp;through (f)&nbsp;above guaranteed
directly or indirectly by a Person, or in effect guaranteed directly or indirectly by a Person
through a Contract, to: (i)&nbsp;pay or purchase such indebtedness or to advance or supply funds for
the payment or purchase of such indebtedness, (ii)&nbsp;purchase, sell or lease (as lessee or lessor)
property, or to purchase or sell services, primarily for the purpose of enabling the debtor to make
payment of such indebtedness, (iii)&nbsp;supply funds to or in any other manner invest in the debtor
(including any agreement to pay for property or services irrespective of whether such property is
received or such services are rendered), or (iv)&nbsp;otherwise assure a creditor against loss in
respect of such indebtedness, and (h)&nbsp;all indebtedness referred to in clauses (a)&nbsp;through (g)&nbsp;above
secured by (or for which the holder of such indebtedness has an existing right, contingent or
otherwise, to be secured by) any Encumbrance or Permitted Exception upon or in property (including
accounts and Contract rights) owned by a Person, even though the Person may not have assumed or
become liable for the payment of such indebtedness, and including in clauses (a)&nbsp;through (h)&nbsp;above
any accrued and unpaid interest thereon.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Indemnified Party</U>&#148; means a Purchaser Indemnified Party or a Seller Indemnified Party,
as the case may be.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Indemnifying Party</U>&#148; means the Seller Indemnifying Parties or the Purchaser
Indemnifying Parties, as the case may be.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Indemnity Notice</U>&#148; means written notification pursuant to <U>Section&nbsp;8.3(b)</U> of a
claim for indemnity under <U>Article&nbsp;VIII</U> by an Indemnified Party, specifying the nature of
and basis for such claim, together with the amount or, if not then reasonably determinable, the
estimated amount, determined in good faith, of the Loss arising from such claim.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Independent Accounting Firm</U>&#148; shall have the meaning ascribed in <U>Section
3.5(b)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Infringement</U>&#148; means a violation of Intellectual Property rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Intellectual Property</U>&#148; means all Copyrights, Customer Lists, Domain Names, Patents,
Trademarks, and Trade Secrets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Intercompany Account Settlement</U>&#148; shall have the meaning ascribed in <U>Section
6.5</U>.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>IP Agreements</U>&#148; means all Contracts or court decisions, orders or judgments, that are
binding on the Company and that contain provisions relating to the ownership or use of Owned
Intellectual Property or Used Intellectual Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>IP Claim</U>&#148; means any claim, demand, dispute, lawsuit, arbitration, opposition,
interference, cancellation or other adversarial proceeding concerning alleged Infringement
respecting the validity, registrability, enforceability, ownership or Use of Intellectual Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>IP Enforcement Documents</U>&#148; means all Contracts, outstanding decrees, orders,
judgments, settlement agreements or stipulations to which the Company is a party or otherwise bound
(whether oral or written, and whether between the Company and an independent Person or
inter-corporate) that contain provisions: (a)&nbsp;covenanting not to sue any Person for Infringement of
any Owned Intellectual Property or Used Intellectual Property; or (b)&nbsp;restricting the Company&#146;s Use
of Owned Intellectual Property or Used Intellectual Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>IRS</U>&#148; shall mean the Internal Revenue Service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Joint Employee Garage</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(a).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Joint Employee Garage Parcel</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(a).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Joint Improvements</U>&#148; shall have the meaning ascribed in Section&nbsp;4.8(e).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Joint Valet Garage</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(a).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Joint Valet Parcel</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(b).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Land Use Permits</U>&#148; shall have the meaning ascribed in Section&nbsp;4.8(s).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Law</U>&#148; and &#147;<U>Laws</U>&#148; means all laws, statutes, rules, regulations, ordinances and
other pronouncements having the effect of law of the United States, any foreign country or any
domestic or foreign state, county, city or other political subdivision or of any Governmental
Entity, including all Gaming Laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Lease Memorandum</U>&#148; means a memorandum of the Replacement Ground Lease, in the form
reasonably agreed by Seller and Purchaser, to be duly executed and notarized on behalf of the
Company and Seller to the Replacement Ground Lease and recorded in the Official Records.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Leased Real Property</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;4.8(b)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Leases</U>&#148; means all leases, ground leases, subleases or other agreements, including all
amendments, extensions, renewals, guaranties or other agreements with respect to the Leased Real
Property, but excluding any lease or sublease as to which the Company is the lessor or sublessor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Liabilities</U>&#148; means all debts, obligations and other liabilities of a Person (whether
absolute, accrued, contingent, fixed or otherwise, or whether due or to become due), including
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">those arising under any Law, action, investigation, inquiry or order and those arising under
any Contract and &#147;<U>Liability</U>&#148; means any one of them.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Liquor Assets</U>&#148; means the inventory of alcoholic beverages at the Real Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Liquor Licenses</U>&#148; means all those certain &#147;off sale,&#148; &#147;portable bar&#148; and other
alcoholic beverage licenses issued by Governmental Entities to the Company pursuant to which the
sale of alcoholic beverages is permitted in the restaurants, bars, function rooms and guest rooms
of the hotel owned by the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Loss</U>&#148; means any action, cost, damage, Liability, loss, injury, penalty, or obligation
of any kind or nature, including interest, penalties, fines, legal, accounting, and other
professional fees and expenses incurred in the investigation, collection, prosecution,
determination and defense thereof, amounts paid in settlement, any incidental, consequential, or
punitive damages payable to third parties that may be imposed on or otherwise incurred or suffered
and which give rise to a valid claim for indemnification under <U>ARTICLE VIII</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Material Adverse Effect</U>&#148; means any circumstance, development, change in, or effect on
the Company that, individually or in the aggregate with any other circumstances, developments,
changes in, or effects on, the Company is, or is reasonably expected to be, directly or indirectly,
materially adverse to (a)&nbsp;the overall business and financial condition of the Company, or (b)&nbsp;the
ability of Seller or the Company to consummate the transactions contemplated by this Agreement.
For the avoidance of doubt, a circumstance, development, change, or effect on the Company is not to
be considered in determining whether there has been a Material Adverse Effect if (i)&nbsp;such
circumstance, development or change affects the gaming industry generally, (ii)&nbsp;such circumstance,
development, change or effect is the result of general economic conditions, or (iii)&nbsp;such
circumstance, development, change or effect results from any act of terrorism, commencement or
escalation of armed hostilities in the U.S. or internationally or declaration of war by the U.S.
Congress. Accordingly, a Material Adverse Effect does not include matters such as legal,
regulatory, economic, industry, political, industrial, climatic, geographic or demographic
conditions, factors, changes or circumstances or financial, banking or capital market changes which
are related to companies, businesses or premises generally (domestically or internationally) or to
companies, businesses or premises in the gaming, recreational, resort, entertainment, leisure or
similar sectors within the State of Nevada, throughout the United States or internationally.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Material Contracts</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;4.11(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>MGM Entities</U>&#148; means Seller and, until the Closing, the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>MGM Group Property</U>&#148; means any property operated by Parent or any of its Affiliates
other than the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Mirage Property</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(b).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Multiemployer Plan</U>&#148; means the Southern Nevada Culinary Workers and Bartenders Pension
Plan Trust Agreement.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Newco</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.31(b)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>New Plans</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.11(d)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>NLRA</U>&#148; means the National Labor Relations Act of 1947, as amended from time to time,
including the rules and regulations promulgated thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>NLRB</U>&#148; means the National Labor Relations Board established pursuant to the NLRA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Non-Imputation Endorsement</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(c).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Notifying Party</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.6(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>NRS</U>&#148; means the Nevada Revised Statutes, as amended from time to time, including the
rules and regulations promulgated thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Official Records</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(c).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Old Plans</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.11(d)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Operating Equipment</U>&#148; means all items owned or leased by the Company and used in its
business, including in the operation or maintenance of its Real Property, including all specialized
casino equipment, such as slot machines, cards, poker chips, gaming devices, dice, baccarat chips,
gaming tables, pneumatic stools, drop buckets, cans and racks, tokens, token racks, card shuffler
devices and accessories, change sorters, pit stands, counting equipment, roulette table covers,
casino and game table signage, cage and game tables supplies, and all other gaming equipment
relating to its business, and including food service preparation utensils, chinaware, glassware,
silverware and hollowware, food and beverage service equipment, uniforms and also including
consumable supplies for housekeeping, engineering, accounting and office use, together with paper
supplies and miscellaneous general supply items.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Ordinary Course of Business</U>&#148; means an action taken by a Person if (a)&nbsp;such action is
consistent with the past practices of such Person and is taken in the normal day-to-day operations
of such Person and (b)&nbsp;such action is not required to be authorized by the board of directors of
such Person (or by any Person or group of Persons exercising similar authority) and is not required
to be specifically authorized by the parent company (if any) of such Person.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Outside Closing Date</U>&#148; means that date which is nine (9)&nbsp;months following the date
hereof, or such later date as the Parties shall mutually agree.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Owned Intellectual Property</U>&#148; means all Intellectual Property that is owned
exclusively by the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Owned Real Property</U>&#148; shall have the meaning ascribed in Section&nbsp;4.8(a).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Owner&#146;s Title Policy</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(c).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Parent</U>&#148; means MGM MIRAGE, a Delaware corporation.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Parties</U>&#148; means Seller, the Company and Purchaser.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Patents</U>&#148; means all patents, whether issued or pending, and patentable inventions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Permitted Exceptions</U>&#148; means the matters set forth in <U>Section&nbsp;4.8(a)</U> of the
Seller Disclosure Schedule.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Person</U>&#148; means an individual, corporation, partnership, limited liability company,
joint stock company, joint venture, association, trust or other entity or organization, including a
Governmental Entity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Plans</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;4.14(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Policies</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;4.19</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Players Club</U>&#148; means the players club database maintained on the Parent player
database system utilized by the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Pre-Closing Period</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;9.1(a)(i)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Pre-Closing Period Tax Returns</U>&#148; shall have the meaning ascribed in <U>Section
9.2(b)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Pre-Subdivision Closing Conditions</U>&#148; shall have the meaning ascribed in <U>Section
7.3(f)(ii)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Purchaser</U>&#148; shall have the meaning ascribed in the preamble.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Purchaser Disclosure Schedule</U>&#148; shall have the meaning ascribed in <U>ARTICLE V</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Purchaser Group</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.11(d)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Purchaser Guaranty</U>&#148; means that certain Guaranty of even date herewith executed by
Purchaser Parent, guarantying all of Purchaser&#146;s obligations, if any, to pay the Seller Termination
Fee pursuant to the terms and conditions hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Purchaser Indemnified Parties</U>&#148; means Purchaser, and, after the Closing, the Company
and their respective Affiliates, and their respective members, partners, directors, managers,
officers, employees, agents and representatives.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Purchaser Indemnifying Parties</U>&#148; means Purchaser, and, after the Closing, the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Purchaser Parent</U>&#148; shall have the meaning ascribed in the recitals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Purchaser Termination Fee</U>&#148; shall have the meaning ascribed in <U>Section
6.14(b)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Real Property</U>&#148; shall have the meaning ascribed in Section&nbsp;4.8(b).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Real Property Improvements</U>&#148; shall have the meaning ascribed in Section&nbsp;4.8(e).
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>REA</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(d).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>REA Term Sheet</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.23(d)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Recipient</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;9.4(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Release</U>&#148; means any release, spill, emission, discharge, leaking, pumping, injection,
deposit, disposal, dispersal, leaching or migration into the indoor or outdoor environment
(including ambient air, surface water, groundwater and surface or subsurface strata) of Hazardous
Materials in, at, on or under the property, including the movement of Hazardous Materials through
or in the air, soil, surface water, groundwater or real property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Release of Guaranties</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.16</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Rent Roll</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;4.8(c)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Replacement Ground Lease</U>&#148; shall mean a ground lease in the form of that certain
Ground Lease by and between Seller and the Company attached hereto as <U>Exhibit&nbsp;D</U> and
covering the Treasure Island Property, subject to modification thereof as permitted pursuant to
this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Resolution Period</U>&#148; means the period ending thirty days following receipt by an
Indemnified Party of a written notice from an Indemnifying Party stating that it disputes all or
any portion of a claim set forth in an Indemnity Notice.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Retained Property</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;2.2</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>SEC</U>&#148; shall mean the Securities and Exchange Commission.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended from time to time,
including the rules and regulations promulgated thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Seller</U>&#148; shall have the meaning ascribed in the preamble.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Seller Disclosure Schedule</U>&#148; shall have the meaning ascribed in <U>ARTICLE IV</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Seller Indemnified Parties</U>&#148; means Parent, Seller and their respective Affiliates, and
their respective members, partners, directors, officers, employees, agents and representatives.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Seller Indemnifying Parties</U>&#148; means Seller.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Seller Notes</U>&#148; shall mean those certain Purchase Notes Secured by Deed of Trust in the
form of <U>Exhibit&nbsp;A-1</U> and <U>Exhibit&nbsp;A-2</U> hereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Seller Termination Fee</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.14(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>SERP II</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;6.11(b)</U>.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Shared Customer</U>&#148; shall have the meaning ascribed within the definition of &#147;Customer
List&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Shared Uses</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(d).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&#147;Software</U>&#148; means those computer programs (whether in source code or object code form),
databases, compilations of data, and all documentation related to any of the foregoing, more
particularly as set forth on <U>Schedule&nbsp;1A</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>SOXA</U>&#148; means the Sarbanes-Oxley Act of 2002, as amended from time to time, including
the rules and regulations promulgated thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Straddle Period</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;9.1(a)(i)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Straddle Period Tax Returns</U>&#148; shall have the meaning ascribed in <U>Section
9.2(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Subdivision</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(b).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Subdivision Closing Conditions</U>&#148; shall have the meaning ascribed <U>Section
7.3(f)(i)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Subdivision Guaranty</U>&#148; means that certain Subdivision Guaranty and Agreement by and
among Parent, Seller, the Company and Purchaser, in the form attached hereto as <U>Exhibit&nbsp;E</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Subsidiary</U>&#148; of any Person means any corporation, partnership, joint venture, limited
liability company, trust, estate or other Person of which (or in which), directly or indirectly,
more than 50% of (a)&nbsp;the issued and outstanding capital stock having ordinary voting power to elect
a majority of the board of directors of such corporation (irrespective of whether at the time
capital stock of any other class or classes of such corporation shall or might have voting power
upon the occurrence of any contingency), (b)&nbsp;the interest in the capital or profits of such
partnership, joint venture or limited liability company or other Person or (c)&nbsp;the beneficial
interest in such trust or estate, is at the time owned by such first Person, or by such first
Person and one or more of its other Subsidiaries or by one or more of such Person&#146;s other
Subsidiaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tangible Personal Property</U>&#148; means all items of tangible personal property, whether
owned or leased, including: (a)&nbsp;FF&#038;E; (b)&nbsp;Consumable Items; (c)&nbsp;Liquor Assets; and (d)&nbsp;all other
items of tangible personal property that are owned or leased by the Company and located at, and
used in the operation of, its business.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tangible Personal Property Leases</U>&#148; shall have the meaning ascribed in <U>Section
4.9</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tax Claim</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;9.4(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tax Return</U>&#148; means any return, declaration, report, claim for refund or statement
filed or required to be filed with any taxing authority or jurisdiction (foreign or domestic) with
respect to Taxes, including attachments thereto, declarations, disclosures, schedules, estimates
and elections and amendments thereof, including information returns.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Taxes</U>&#148; means any and all taxes, charges, customs, fees, levies, duties, Liabilities,
impositions or other assessments, including income, gross receipts, profits, excise, real or
personal property, environmental, recapture, sales, use, value-added, withholding, social security,
retirement, employment, unemployment, occupation, service, license, net worth, payroll, franchise,
gains, stamp, transfer and recording taxes, general or special assessments, fees and charges,
imposed by the IRS or any other taxing authority (whether domestic or foreign including any state,
county, local or foreign government or any subdivision or taxing agency thereof (including a United
States possession)), and all taxes, fees and other charges assessed under the Gaming Laws
(excluding any and all fees, charges, costs and expenses assessed against Purchaser or any of its
principals by the Gaming Authorities in connection with the filing, investigation and/or processing
of the applications of Purchaser and any of its principals to obtain all Governmental Approvals
necessary to own and operate the Company and its facilities and related amenities), whether
computed on a separate, consolidated, unitary, combined or any other basis; any interest, fines,
penalties, additions to tax, or additional amounts attributable to, or imposed upon, or with
respect to, any such taxes, charges, customs, fees, levies, duties, Liabilities, impositions or
other assessments; and any obligation to indemnify or otherwise assume or succeed to the Tax
Liability of any Person. For the avoidance of doubt, Taxes assessed under the Gaming Laws shall
not be treated as &#147;income&#148; Taxes for purposes of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tenant Leases</U>&#148; means all leases and subleases of Real Property as to which the
Company is the lessor or sublessor, as set forth on the Rent Roll.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Termination of Affiliate Contracts</U>&#148; shall have the meaning ascribed in <U>Section
6.13</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Third Party Claim</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;8.3(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Trademarks</U>&#148; means all indicia of the source or origin of goods or services in
commerce (including, but not limited to, trademarks, service marks, trade names, slogans, logos and
trade dress), whether registered or unregistered, together with associated goodwill.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Trade Secrets</U>&#148; means all information that qualifies for trade secret protection under
the Nevada Trade Secrets Act, NRS 600A.010 <I>et seq.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Transfer Taxes</U>&#148; means real property transfer taxes imposed pursuant to NRS &#167; 375.060.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Transitional Services Agreement</U>&#148; shall have the meaning ascribed in <U>Section
6.12</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Treasure Island Property</U>&#148; shall have the meaning ascribed in Section&nbsp;6.23(b).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Unaudited 2008 Financials</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;4.4</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Use</U>&#148; means: (1)&nbsp;with respect to works protectible by copyright, to copy, distribute,
publicly display, publicly perform, transmit, disclose to third parties, or make derivative works
based on the work; (2)&nbsp;with respect to Trademarks, to use in commerce to denote the source or
origin of goods or services; (3)&nbsp;with respect to patented inventions, to make, use, sell (or offer
to make, use or sell) import or export, patented invention; (4)&nbsp;with respect to Trade Secrets,
means
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">used in the course of business; and (5)&nbsp;to grant to others the right or license to do any of
the foregoing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Used Intellectual Property</U>&#148; means Intellectual Property that is: (1)&nbsp;not owned or
controlled by the Company, and (2)&nbsp;Used or held for Use in the business of the Company, all as more
particularly set forth on <U>Schedule&nbsp;1B</U>. Assigned Intellectual Property is a subset of Used
Intellectual Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>WARN Act</U>&#148; shall mean the Worker Adjustment and Retraining Notification Act of 1988,
as amended from time to time, including the rules and regulations promulgated thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Water Rights</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;4.8(t)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Working Capital</U>&#148; means Current Assets minus Current Liabilities of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Working Capital Statement</U>&#148; shall have the meaning ascribed in <U>Section&nbsp;3.5(a)</U>.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE II</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>PURCHASE AND SALE OF EQUITY INTERESTS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.1 <U>Purchase and Sale of Equity Interests</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On and subject to the terms and conditions of this Agreement, Purchaser agrees to purchase
from Seller, and Seller agrees to sell to Purchaser, all of the Equity Interests for the Final
Purchase Price. At the Closing, the Equity Interests shall be transferred or otherwise conveyed to
Purchaser free and clear of all Encumbrances and Permitted Exceptions, excepting only restrictions
on the subsequent transfer of the Equity Interests as may be imposed under applicable Laws. Seller
and Purchaser agree that Two Hundred Seventy-Five Million Dollars ($275,000,000) of the Final
Purchase Price shall, at Purchaser&#146;s election, be (a)&nbsp;paid in cash, (b)&nbsp;evidenced by the Seller
Notes and secured by a first priority lien on certain assets of the Company and a first priority
pledge of the Equity Interests pursuant to the collateral documents attached as <U>Exhibit&nbsp;B</U>
to this Agreement, and such other collateral documents as may be agreed to between the parties,
each acting reasonably and in good faith, or (c)&nbsp;a combination of both (a)&nbsp;and (b). The priority
of the lien on such assets, if any, shall be evidenced by a lender&#146;s policy of title insurance in
form and substance reasonably satisfactory to Seller, the cost of which shall be borne by
Purchaser.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.2 <U>Retained Property</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained in this Agreement, from and after the
Closing, Seller shall retain all of its right, title and interest in and to each and all of the
assets set forth on <U>Schedule&nbsp;2.2</U> (collectively, the &#147;<U>Retained Property</U>&#148;), which
Retained Property is not a part of the transactions contemplated hereby, whether or not such
Retained Property is presently owned by the Company. Seller and Purchaser may amend <U>Schedule
2.2</U> as necessary to include any specific items of Seller&#146;s which is not owned or used by the
Company but were inadvertently
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">omitted from said Schedule. Prior to the Closing Date, Seller shall cause the Company to
assign to Seller, Parent or an Affiliate designated by Parent, all right, title and interest of
such Company in such Retained Property. All items, whether located at the Company&#146;s Real Property,
or otherwise owned by the Company, that constitute Retained Property, may be removed on or prior to
the Closing Date or within one hundred twenty (120)&nbsp;days after the Closing Date by Seller, provided
that such removal be done at prearranged times so as not to unreasonably disrupt the Company&#146;s
operations or customers. Seller acknowledges and agrees that all Liability or Loss associated with
the Retained Property and its removal shall be borne exclusively by Seller, and the Seller
Indemnifying Parties shall, jointly and severally, defend and indemnify the Purchaser Indemnified
Parties in respect of, and hold each of them harmless from and against, any and all Losses
suffered, incurred or sustained by any of them or to which any of them becomes subject, resulting
from, arising out of, or relating to the Retained Property or its removal. For the avoidance of
doubt, any Liability or Loss incurred by Purchaser in connection with any Retained Property or its
removal shall not be subject to the provisions of <U>Section&nbsp;8.2(c)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.3 <U>Additional Property</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Schedule&nbsp;2.3</U> identifies certain property that is presently used by the Company and
intended to be a part of the transactions contemplated by this Agreement, but is presently owned by
an Affiliate of Seller, including without limitation, Assigned Intellectual Property (collectively,
the &#147;<U>Additional Property</U>&#148;). Prior to or concurrently with the Closing, Seller shall cause
its Affiliates to transfer the Additional Property identified opposite each such item on
<U>Schedule&nbsp;2.3</U> to the Company. Notwithstanding the foregoing, the Treasure Island Property,
and the timing of its transfer to the Company, is addressed in <U>Section&nbsp;6.23</U> hereof, and in
the event of any inconsistency between this <U>Section&nbsp;2.3</U> and <U>Section&nbsp;6.23</U>, then
<U>Section&nbsp;6.23</U> shall govern. From and after the Closing, Seller shall, and shall cause its
Affiliates to, take such further actions and provide such further instruments as may be reasonably
requested by Purchaser or the Company to confirm the transfer of the Additional Property from
Seller or its Affiliate to the Company and in effecting the relocation of any Additional Property
to the Real Property.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE III</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>CLOSING; PURCHASE PRICE</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.1 <U>Closing</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The closing of the purchase and sale of the Equity Interests (the &#147;<U>Closing</U>&#148;) shall
take place at the executive offices of Parent, located at 3950 Las Vegas Boulevard South, Las
Vegas, Nevada 89119 (or such other location agreed upon in writing by Purchaser and Seller) at such
time to be agreed upon by Purchaser and Seller on the later of (i)&nbsp;the last Business Day of the
calendar month in which the satisfaction or, if permissible, waiver of the conditions set forth in
<U>ARTICLE VII</U> (other than those conditions that by their nature are to be satisfied at the
Closing) occurs, or (ii)&nbsp;the second Business Day following the date on which such satisfaction or
waiver occurs (such later date, the &#147;<U>Closing Date</U>&#148;), unless another date is agreed to in
writing between
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Purchaser and Seller; provided that in all events the Closing shall occur, if at all, on or
before the Outside Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.2 <U>Deliveries at Closing</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;In connection with the sale of the Equity Interests at the Closing, Seller shall deliver
or cause to be delivered the following to Purchaser at the Closing:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) an executed receipt for the Closing Date Cash Purchase Price and, if
applicable, the Seller Notes;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) certificates representing the Equity Interests of the Company (if the
Equity Interests are certificated), together with appropriate instruments of
transfer in a form mutually reasonably satisfactory to Seller and Purchaser for
transfer on the books of the Company;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) copies of the publicly filed organizational documents of the Company,
certified as of a recent date prior to the Closing Date by the Secretary of State of
the State of Nevada;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a copy, certified by an officer of the Company, of the bylaws or operating
agreement of the Company, as applicable;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a copy, certified by an officer of Seller, of the resolutions of its board
of directors authorizing the execution and delivery of this Agreement and
consummation of the transactions contemplated by this Agreement, which resolutions
shall be in full force and effect and not revoked;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) a duly executed certificate of an officer of Seller pursuant to
<U>Section&nbsp;7.3(c)</U>;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) a good standing certificate (or its equivalent) for the Company issued by (i)&nbsp;the
Secretary of State of the State of Nevada (dated within a recent date prior to the Closing
Date), and (ii)&nbsp;of such other applicable jurisdictions where the Company is qualified or
licensed to do business or own, lease or operate property making such qualification or
licensing necessary (dated as of a date within a recent date prior to the Closing Date);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) a bring down good standing certificate (or its equivalent), dated as of
the Closing Date, of the certificates delivered pursuant to <U>Section
3.2(a)(vii)</U>, or a verbal confirmation from the Secretary of State of the
applicable jurisdiction on the Closing Date with respect to such good standing;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) the record books of the Company;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) duly executed resignations effective as of the Closing Date from such
managers, directors and officers of the Company as Seller shall have notified
Purchaser in writing not less than one Business Day prior to the Closing Date;
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) duly executed copies of documentation evidencing the Termination of
Affiliate Contracts;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) evidence in form and substance mutually reasonably satisfactory to Seller
and Purchaser that the Release of Guaranties occurs at the Closing;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) an executed counterpart of the Transitional Services Agreement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) duly executed copies of the assignment and/or license agreements as
required by <U>Section&nbsp;6.9(d)</U>, including evidence of the filing of all
assignments with the United States Patent and Trademark Office, United States
Copyright Office and any applicable domain name registries and any other documents
executed by Parent or its Affiliates conveying the right to Use the Used
Intellectual Property to Purchaser;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) evidence reasonably satisfactory to Purchaser that all Gaming Licenses
required to be obtained by Seller or any of its directors, officers, employees,
stockholders and Affiliates in connection with the conversion of the Company to an
LLC have been obtained and are in full force and effect;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) if the condition set forth in <U>Section&nbsp;7.3(f)</U> is satisfied
pursuant to the Subdivision Closing Conditions, duly executed and notarized
originals of the REA (if the REA has been mutually agreed upon) or, if the REA has
not been mutually agreed upon, the REA Term Sheet
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) if the condition set forth in <U>Section&nbsp;7.3(f)</U> is satisfied
pursuant to the Subdivision Closing Conditions, evidence reasonably acceptable to
Purchaser that the Subdivision has been completed, the Treasure Island Property has
been conveyed to the Company pursuant to the Deed or will be as of the Closing, and
that the Owner&#146;s Title Policy (including the Non-Imputation Endorsement, which shall
be effective as of the Closing) has been issued concurrently with such recordation;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii) if the closing condition set forth in <U>Section&nbsp;7.3(f)</U> is
satisfied pursuant to the Pre-Subdivision Closing Conditions, duly executed and
notarized originals, as applicable, of the Replacement Ground Lease and the Lease
Memorandum;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xix) if the closing condition set forth in <U>Section&nbsp;7.3(f)</U> is satisfied
pursuant to the Pre-Subdivision Closing Conditions, three (3)&nbsp;originals of the
Subdivision Guaranty, duly executed by Parent and Seller in favor of Purchaser and
the Company;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) if the condition set forth in <U>Section&nbsp;7.3(f)</U> is satisfied pursuant to the
Subdivision Closing Conditions, one (1)&nbsp;duly executed and notarized original of the Deed
and such declaration of value as may be required in connection with the Deed pursuant
to applicable Law;
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxi) if the condition set forth in <U>Section&nbsp;7.3(f)</U> is satisfied
pursuant to the Subdivision Closing Conditions, a statement issued by the Seller in
a form reasonably satisfactory to the Purchaser certifying that Seller is not a
foreign person within the meaning of Treasury Regulations issued pursuant to Section
1445 of the Code; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxii) all other previously undelivered documents, agreements, instruments,
writings and certificates, and such other documents, agreements, instruments,
writings and certificates as Purchaser may reasonably request to effect the
transactions contemplated by this Agreement, in form and substance reasonably
satisfactory to Purchaser.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;In connection with the purchase of the Equity Interests at the Closing, Purchaser shall
deliver or cause to be delivered the following to Seller, at the Closing:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Closing Date Cash Purchase Price in immediately available funds by wire
transfer to an account designated by Seller in writing to Purchaser;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a receipt for delivery of the Equity Interests of the Company, duly
executed by a manager of Purchaser;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Seller Note and the Collateral Documents, duly executed and, where
appropriate, notarized, by Purchaser and/or the Company, if the Closing Date
Purchase Price is greater than the Closing Date Cash Purchase Price;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a copy of the organizational documents of Purchaser, certified as of a
recent date prior to the Closing Date by the Secretary of State of the State of
Nevada;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) copies, certified by a manager of Purchaser, of its operating agreement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) copies, certified by an officer of Purchaser, of the resolutions of
Purchaser&#146;s manager authorizing the execution and delivery of this Agreement and the
consummation of the transactions contemplated by this Agreement, which resolutions
shall be in full force and effect and not revoked;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) a duly executed certificate of an officer of Purchaser pursuant to
<U>Section&nbsp;7.2(c)</U>;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) a good standing certificate (or its equivalent) of Purchaser issued by
the Secretary of State of the State of Nevada, dated as of a recent date prior to
the Closing Date;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) a bring down good standing certificate (or its equivalent), dated as of
the Closing Date, of the certificate delivered pursuant to <U>Section
3.2(b)(viii)</U>, or a verbal confirmation from the Secretary of State of the State
of Nevada on the Closing Date with respect to such good standing;
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) a receipt for delivery of the record books of the Company, duly executed by
a manager of Purchaser;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) an executed counterpart of the Transitional Services Agreement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) evidence reasonably satisfactory to Seller that all Gaming Licenses
required to be obtained by Purchaser or any of its managers, officers, employees,
stockholders and Affiliates in connection with the acquisition of the Equity
Interests have been obtained and are in full force and effect; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) all other previously undelivered documents, agreements, instruments,
writings and certificates, and such other documents, agreements, instruments,
writings and certificates as Seller may reasonably request to effect the
transactions contemplated by this Agreement, in form and substance reasonably
satisfactory to Seller.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.3 <U>Purchase Price Payment at Closing</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the Closing, Purchaser shall pay to Seller the Closing Date Cash Purchase Price. The
Closing Date Purchase Price is subject to further adjustment post-Closing pursuant to <U>Sections
3.5</U> and <U>3.6</U>; provided that if no adjustment is made post-Closing to the Closing Date
Purchase Price pursuant to <U>Sections&nbsp;3.5</U> and <U>3.6</U>, the Closing Date Purchase Price
shall be the Final Purchase Price for purposes of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.4 <U>Calculation of Closing Date Purchase Price</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Five (5)&nbsp;days prior to the Closing, Seller shall deliver to Purchaser a statement setting
forth an estimate of the Working Capital of the Company as of the Closing (&#147;<U>Estimated Working
Capital Statement</U>&#148;). The Estimated Working Capital Statement shall be prepared in good faith
by Seller in accordance with GAAP, using the same types of management judgments, estimates,
forecasts, policies, opinions and allocations (including reserve calculations) that have
historically been used in the preparation of the Company&#146;s financial statements. The amount of
Working Capital of the Company set forth in its Estimated Working Capital Statement shall
hereinafter be referred to as the &#147;<U>Estimated Working Capital</U>.&#148; The &#147;<U>Closing Date
Purchase Price</U>&#148; shall be equal to the sum of Seven Hundred Seventy-Five Million Dollars
($775,000,000) plus the amount of Estimated Working Capital (if greater than zero), or minus the
absolute value of the amount of Estimated Working Capital (if less than zero).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.5 <U>Adjustment Procedures to the Closing Date Purchase
Price</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;As promptly as practicable, but no later than forty-five (45)&nbsp;days after the Closing,
Purchaser shall prepare and deliver to Seller a statement setting forth the Working
Capital of the Company as of the Closing (&#147;<U>Working Capital Statement</U>&#148;). The Working
Capital Statement shall be prepared in good faith by Purchaser in accordance with GAAP, using the
same types of management judgments, estimates, forecasts, policies, opinions and allocations
(including reserve calculations) that have historically been used in the preparation of the
Company&#146;s financial statements. Following the Closing, Purchaser shall give Seller and any
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">independent accountants of Seller, with prior written notice, reasonable access during business
hours to the properties, books, records and personnel of the Company relating to periods prior to
the Closing for purposes of reviewing the Working Capital Statement. Seller shall have forty-five
(45)&nbsp;days following receipt of the Working Capital Statement in which to notify Purchaser in
writing of any dispute of any item contained in any Working Capital Statement, which notice shall
set forth in reasonable detail the basis for such dispute and the Working Capital figure proposed
by Seller (the &#147;<U>Dispute Notice</U>&#148;). If Seller fails to notify Purchaser in writing of any
dispute within such forty-five-day period, then the Working Capital Statement shall be deemed to be
the &#147;<U>Final Statement</U>.&#148; In the event that Seller shall so notify Purchaser of any dispute
on or prior to such forty-fifth day, any amounts contained in the Working Capital Statement that
are not disputed by Seller in the Dispute Notice shall be deemed to have been finally determined
for purposes of calculating the Actual Working Capital. For a period of fifteen (15)&nbsp;days
following the delivery of the Dispute Notice to Purchaser, an officer of each of Purchaser and
Seller shall attempt to resolve in good faith the amounts disputed in the Dispute Notice. During
such fifteen-day period, Purchaser shall be permitted to review the working papers of Seller and
Seller&#146;s independent accountants relating to the Estimated Working Capital Statement and the
Dispute Notice, and Seller shall be permitted to review the working papers of Purchaser and
Purchaser&#146;s independent accountants relating to the Working Capital Statement. Amounts resolved by
such attempts within such fifteen (15)&nbsp;day period shall be deemed to have been finally determined
for purposes of calculating the Actual Working Capital.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;If Purchaser and Seller are unable to resolve any such dispute prior to the end of such
fifteen (15)&nbsp;day period, an accounting firm mutually acceptable to both Purchaser and Seller (the
&#147;<U>Independent Accounting Firm</U>&#148;) shall be appointed by Purchaser and Seller to resolve such
dispute and such determination shall be final and binding on the parties to this Agreement. If
Purchaser and Seller cannot mutually agree on the selection of the Independent Accounting Firm,
Purchaser and Seller shall submit to such other Person&#146;s independent accountants the name of a
nationally recognized accounting firm which does not at the time and has not in the prior two years
provided audit or other attestation services or diligence services in connection with this
Agreement to any of the MGM Entities or Purchaser or any of their respective Affiliates, and the
Independent Accounting Firm shall be selected by lot from these two firms by the then current
independent accountants of Purchaser and Seller. The Independent Accounting Firm may not make any
determination with respect to any matter not set forth in the Dispute Notice and the Working
Capital based upon the Independent Accounting Firm&#146;s determination shall not be more than the
amount of the Working Capital of the Company as of the Closing Date set forth in the Dispute Notice
by Seller or less than the amount of the Working Capital of the Company as of the Closing Date set
forth by Purchaser in the Working Capital Statement. Each of Purchaser and Seller and their
respective independent accountants shall give the Independent Accounting Firm access at all
reasonable times to the properties, books, records and personnel of the Company relating to periods
prior to the Closing for purposes of reviewing the Estimated Working Capital Statement, the Dispute
Notice and the Working Capital Statement and calculating the Actual Working Capital. The
Independent Accounting Firm shall be instructed to
use every reasonable effort to perform its services within thirty days of submission of the
Estimated Working Capital Statement, the Dispute Notice and the Working Capital Statement to it
and, in any case, as promptly as practicable after such submission. The Working Capital Statement,
as modified by resolution of any disputes by Purchaser and Seller or by the Independent Accounting
Firm, shall be deemed to be a &#147;<U>Final Statement</U>.&#148;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Purchaser and Seller shall pay all expenses relating to the engagement of the Independent
Accounting Firm in proportion to the percentage of the dollar value of the disputed items prevailed
upon by each Person. Purchaser and Seller shall each pay all advisors&#146; fees, charges and expenses
incurred by such Person in connection with the dispute.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.6 <U>Calculation and Payment of Final Purchase Price</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Closing Date Purchase Price shall be adjusted as follows: (i)&nbsp;if the Actual Working
Capital is greater than the Estimated Working Capital, then the Closing Date Purchase Price shall
be increased by the amount of such excess; or (ii)&nbsp;if the Actual Working Capital is less than the
aggregate Estimated Working Capital, then the Closing Date Purchase Price shall be decreased by the
amount of such deficiency (in each such event, the &#147;<U>Final Purchase Price</U>&#148;). To the extent
the Actual Working Capital is: (i)&nbsp;greater than the Estimated Working Capital, Purchaser shall,
within five days of Purchaser&#146;s receipt of the Final Statement, deliver by wire transfer of
immediately available funds to the account specified by Seller in writing for the Closing Date
Purchase Price, an amount equal to such excess; or (ii)&nbsp;less than the Estimated Working Capital,
Seller shall, within five days of Seller&#146;s receipt of the Final Statement, deliver by wire transfer
of immediately available funds to an account by Purchaser in writing (no later than two Business
Days prior to the expiration of such five day period), an amount equal to such deficiency, in
either case without interest.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE IV</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>REPRESENTATIONS AND WARRANTIES OF SELLER</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller represents and warrants to Purchaser, except as expressly set forth herein and in the
disclosure schedule delivered by Seller to Purchaser before the execution and delivery of this
Agreement (the &#147;<U>Seller Disclosure Schedule</U>&#148;), as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.1 <U>Organization and Qualification.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Seller is duly incorporated, validly existing and in good standing under the laws of the
State of Nevada and (i)&nbsp;has all requisite corporate power and authority to carry on its business as
now being conducted and as proposed to be conducted prior to Closing, and (ii)&nbsp;is duly qualified or
licensed to do business in each jurisdiction in which the ownership or use of its assets or conduct
of its business requires it to be so qualified, except where in the case of clause (i)&nbsp;or (ii),
such failure would not, individually or in the aggregate, have a Material Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Company is duly organized, validly existing and in good standing under the laws of the
State of Nevada and (i)&nbsp;has all requisite power and authority to carry on its business as now being
conducted and as proposed to be conducted prior to Closing, and (ii)&nbsp;is
duly qualified or licensed to do business in each jurisdiction in which the ownership or use of its
assets or conduct of its business requires it to be so qualified, except where in the case of
clause (i)&nbsp;or (ii), such failure would not, individually or in the aggregate, have a Material
Adverse Effect.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.2 <U>Ownership of Equity Interests</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Seller is the record and beneficial owner of all of the Equity Interests of the Company
and, except as set forth in <U>Section&nbsp;4.2(a)</U> of the Seller Disclosure Schedule, the Equity
Interests of the Company are free and clear of all Encumbrances and Permitted Exceptions (any
Encumbrances listed on Section&nbsp;4.2(a) of the Seller Disclosure Schedule will be terminated or
released in their entirety at or prior to Closing), excepting only restrictions on the subsequent
transfer as may be imposed under applicable Laws. <U>Section&nbsp;4.2(a)</U> of the Seller Disclosure
Schedule sets forth all authorized equity of the Company and the amount of equity outstanding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Equity Interests have been duly authorized, validly issued and fully paid, are
non-assessable and have not been issued in violation of any pre-emptive rights, applicable Laws,
the Company&#146;s organizational or governance documents or the terms of any material Contract to which
any of the MGM Entities is a party or by which it is bound. There are no obligations, contingent
or otherwise, to repurchase, redeem (or establish a sinking fund with respect to redemption) or
otherwise acquire all or any portion of the Equity Interests.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;There are no bonds, debentures, notes or other Indebtedness of the Company having voting
rights (or convertible into securities having voting rights). Except as set forth in <U>Sections
4.2(a)</U> of the Seller Disclosure Schedule, there are no other equity interests or securities of
the Company reserved for issuance or any outstanding subscriptions, options, warrants, rights,
&#147;phantom&#148; equity rights (or other equity appreciation rights or contractual rights, the value of
which is derived from the financial performance of the Company), convertible or exchangeable
securities, equity appreciation rights, or other Contracts (other than this Agreement) granting to
any Person any interest in or right to acquire at any time, or upon the happening of any stated
event, any Equity Interests of the Company (whether issued or un-issued) or other equity interests
or securities of the Company, or any interest in, exchangeable for, or convertible into, Equity
Interests of the Company or other equity interests or securities of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The Company does not own directly or indirectly, of record or beneficially, or have the
right to acquire under any Contract, any capital stock or equity interests or any securities
convertible, exchangeable, redeemable or exercisable into capital stock or equity interests of any
other Person (nor is it a general partner or manager of any other Person).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.3 <U>Authority; No Conflict; Required Filings and
Consents</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Seller has all requisite entity power and authority to enter into this Agreement and to
consummate the transactions that are contemplated by this Agreement and to perform its obligations
hereunder. The execution and delivery of this Agreement (and all related documents) by the MGM
Entities and the performance by the MGM Entities of the transactions that are contemplated by this
Agreement (and all related documents) have been duly authorized by all
necessary entity action on the part of the MGM Entities, respectively. Except as already obtained
as of the date hereof, no entity act or proceeding on the part of the MGM Entities or their
respective stockholders or members will be necessary to authorize, execute, deliver and perform
this Agreement (and all related documents) and consummate the transactions contemplated by this
Agreement (and all related documents). This Agreement (and all related
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">documents) has been duly
executed and delivered by each of the MGM Entities and, assuming this Agreement (and all related
documents) constitutes the valid and binding obligation of Purchaser (or any other Affiliates of
Purchaser party thereto), constitutes the valid and binding obligation of each of the MGM Entities,
enforceable against each of the MGM Entities in accordance with its terms, except as such
enforceability may be limited by (i)&nbsp;bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance or other similar Laws now or hereafter in effect relating to creditors&#146; rights generally
and (ii)&nbsp;general principles of equity (regardless of whether enforcement is considered in a
proceeding at Law or in equity).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Except as set forth in <U>Section&nbsp;4.3(b)</U> of the Seller Disclosure Schedule, the
execution and delivery of this Agreement (and all related documents) by each of the MGM Entities
does not, and the consummation by each of the MGM Entities of the transactions to which it is a
party that are contemplated by this Agreement (and all related documents), including the
Intercompany Account Settlement, will not, (i)&nbsp;conflict with, or result in any violation or breach
of, any provision of the articles of organization, articles or certificate of incorporation or
bylaws of the MGM Entities, as the case may be, (ii)&nbsp;conflict with, result in a breach of,
constitute a default (or an event which with the giving of notice or lapse of time, or both, would
become a default) under, require any notice, consent, approval or waiver under, or give to others
any rights of termination, amendment, acceleration, suspension, revocation or cancellation of, or
result in the creation or continuance of any Encumbrance or Permitted Exception on the Equity
Interests, any of the assets or properties owned, leased or otherwise by the Company pursuant to
any Contract, permit or obligation to which any of the MGM Entities is a party or by which any of
the Company or any such assets or properties is bound or (iii)&nbsp;conflict with or violate any Law or
Governmental Order applicable to any of the Company or the Equity Interests, any of the assets or
properties of the Company, except where such conflict or violation would not, individually or in
the aggregate, have a Material Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Except for (i)&nbsp;the filing of notification reports under the HSR Act, (ii)&nbsp;any Governmental
Approvals related to, or arising out of, compliance with (x)&nbsp;Gaming Laws and (y)&nbsp;Gaming Licenses of
the Seller Disclosure Schedules, (iii)&nbsp;any Governmental Approvals related to, or arising out of,
compliance with Liquor Licenses, (iv)&nbsp;any Governmental Approvals as may be required under
applicable state securities Laws, and (v)&nbsp;the satisfaction or waiver of the closing conditions in
<U>Section&nbsp;7.1</U> and <U>Section&nbsp;7.3</U> and the closing deliveries in <U>Section&nbsp;3.2</U>, no
material Governmental Approval, or consent, approval, authorization or action by, notice to, filing
with, or waiver from, any other Person is required in connection with the execution, delivery and
performance by the MGM Entities of this Agreement and consummation by the MGM Entities of the
transactions contemplated by this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.4 <U>Financial Information</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section&nbsp;4.4</U> of the Seller Disclosure Schedule contains (a)&nbsp;an audited (i)&nbsp;Supplemental
Consolidating Balance Sheet Information of Parent, including Balance Sheet
Information of the Company as of December&nbsp;31, 2007 (the &#147;<U>Company Balance Sheet</U>&#148;), and (ii)
Supplemental Consolidating Income Statement Information and Supplemental Consolidating Cash Flow
Information of Parent, setting forth Income Statement Information and Cash Flow Information of the
Company for the fiscal year ended December&nbsp;31, 2007, (collectively, &#147;2007 Audited Financials&#148;)
audited by Deloitte &#038; Touche LLP, whose report thereon is included
</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">therein; and (b)&nbsp;an unaudited (i)&nbsp;balance sheet of the Company as of September&nbsp;30, 2008, and
(ii)&nbsp;income statement of the Company for the nine months ended September&nbsp;30, 2008 (collectively,
&#147;<U>Unaudited 2008 Financials</U>&#148;). The balance sheet information, income statement, and cash
flow information of the Company in the 2007 Audited Financials is true, complete and accurate in
all material respects, has been prepared in accordance with the books of account and other
financial records of the Company, and presents fairly the assets, liabilities, financial condition,
and results of operations of the Company as of the dates thereof and in accordance with GAAP
(except that the Balance Sheet Information, Income Statement Information, and Cash Flow Information
of the Company included in the 2007 Audited Financials does not include footnotes). The Unaudited
2008 Financials has been prepared from the books of account and other financial records of the
Company and presents fairly the assets, liabilities and results of operations of the Company as of
the dates thereof and in accordance with GAAP except that (i)&nbsp;no footnotes are included and (ii)&nbsp;no
cash flow statements are included.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.5 <U>No Undisclosed Liabilities</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in <U>Section&nbsp;4.5</U> of the Seller Disclosure Schedule, the Company does
not have any material Liability that is not reflected or reserved against on its Company Balance
Sheet or otherwise disclosed in the notes thereto, other than Liabilities incurred subsequent to
December&nbsp;31, 2007 in the Ordinary Course of Business.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.6 <U>Absence of Certain Changes or Events</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as disclosed in <U>Section&nbsp;4.6</U> of the Seller Disclosure Schedule, since December
31, 2007, and except as contemplated by or as otherwise set forth in this Agreement, the business
and operations of the Company has been conducted only in the Ordinary Course of Business and, since
such date, there has not been any Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.7 <U>Taxes</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in <U>Section&nbsp;4.7</U> of the Seller Disclosure Schedule, to the knowledge
of the MGM Entities:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Each of Parent, Seller and the Company (i)&nbsp;has timely filed (taking into account all valid
extensions of time for filing) with the appropriate taxing authorities all income Tax Returns and
other material Tax Returns that report the activities of the Company required by Law to be filed by
such Person, and (ii)&nbsp;each of Parent, Seller and the Company will timely file any such returns
required by Law to be filed (taking into account all valid extensions of time for filing) on or
prior to the Closing Date. Such Tax Returns are (and, to the extent they will be filed prior to
the Closing Date, will be) complete and accurate in all material respects. The Company (and Parent
and Seller, with respect to activities of the Company) does not have pending any request for an
extension of time within which to file Tax Returns.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;No federal, state, local or foreign audits or other administrative proceedings or court
proceedings are presently pending with regard to any Taxes or Tax Returns of the Company or
relating to activities of the Company. The Company (or Parent or Seller, with respect to
activities of the Company) has not received notice of any such pending audits or proceedings.
There are no outstanding waivers extending the statutory period of limitation or
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">otherwise extending the time for assessment or claiming a deficiency with respect to any Taxes due
from or relating to activities of the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Neither the IRS nor any other taxing authority (whether domestic or foreign) has asserted
or threatened to assert, against the Company (or Parent or Seller, with respect to activities of
the Company) any material deficiency or material claim for Taxes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;There are no Encumbrances or Permitted Exceptions for Taxes upon any property or assets of
the Company, except for Encumbrances for Taxes not yet due and payable and as to which adequate
reserves have been established on the financial statements of the Company or Permitted Exceptions
with respect to the Real Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;The Company has not been a member of an affiliated group of corporations within the
meaning of Section&nbsp;1504 of the Code, or a member of a combined, consolidated or unitary group for
state, local or foreign Tax purposes, and is not a successor to any such entity, except for any
group the common parent of which was Parent. The Company has no liability for the Taxes of any
Person as a result of transferee liability or being a member of any such group or otherwise by
operation of law. The Company does not have any obligation under any Tax sharing agreement,
allocation agreement, indemnification agreement or similar arrangement with any other Person with
respect to Taxes of such other Person.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;The Company (or Parent or Seller with respect to activities of the Company) has not
received a written ruling from any taxing authority.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;No jurisdiction where the Company does not file a Tax Return has made a claim that the
Company (or Parent or Seller with respect to activities of the Company) is required to file a Tax
Return in such jurisdiction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;No audit or other proceeding by any Governmental Authority is pending or threatened with
respect to any Taxes due from or with respect to the Company or any Tax Returns filed by or with
respect to the Company. All material Taxes that the Company is, or was, required by legal
requirements to withhold or collect have been duly withheld or collected, and to the extent
required, have been paid to the proper Governmental Authority.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.8 <U>Real Property</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Section&nbsp;4.8(a)</U> of the Seller Disclosure Schedule identifies a complete, accurate
and current list, including the address or other description, and the identity of the holder of
title, for all real property in which the Company currently holds a direct or indirect ownership
interest, of which there is currently none as of the date hereof, and all real property in which
the Company may own a direct or indirect ownership interest as of immediately prior to the Closing,
pursuant to the provisions of <U>Section&nbsp;6.23</U> of this Agreement (collectively, including all
land, and all interests in buildings, structures, improvements and fixtures located thereon and all
easements and other rights and interests appurtenant thereto, including without limitation the
Water Rights, the &#147;<U>Owned Real Property</U>&#148;). Except as set forth on Section&nbsp;4.8(a) of the
Seller Disclosure Schedule, with respect to each parcel of the Owned Real Property: (i)&nbsp;the
Company has or will have at Closing good and marketable indefeasible fee simple title to the Owned
Real Property except for the Permitted Exceptions; (ii)&nbsp;except for the Permitted Exceptions, the
Company has
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">neither leased nor otherwise granted to any Person the right to use or occupy the Owned Real
Property or any portion thereof except for licensing of hotel rooms in the Ordinary Course of
Business; (iii)&nbsp;there are no outstanding options, rights of first offer, rights of reverter, or
rights of first refusal to purchase the Owned Real Property or any portion thereof or interest
therein, and (iv)&nbsp;the Company is not a party to any Contract for the purchase or sale of any
interest in the Owned Real Property. The Company is or will be at Closing in lawful possession of
the Owned Real Property, subject only to Permitted Exceptions and those matters described in
Section&nbsp;4.8(a) of the Seller Disclosure Schedule, and the Company is not a party to any Contract to
purchase any real property or interest therein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Section&nbsp;4.8(b)</U> of the Seller Disclosure Schedule sets forth a complete, accurate
and current schedule of all real property leased or operated by the Company, including the date of
each Lease, the expiration date of such Lease, the term of such Lease, the parties to such Lease,
all renewal rights and options to purchase and a description of the demised premises thereunder
(including all leasehold, subleasehold, ground leasehold, or other rights to use or occupy any
land, buildings, structures, improvements, fixtures, or other interest in real property used in
connection with the Company and the operation of its business) (collectively, the &#147;<U>Leased Real
Property</U>&#148; and together with the Owned Real Property, the &#147;<U>Real Property</U>&#148;). True and
correct and complete copies of each Lease has been made available by Seller to Purchaser, and there
are no other material Contracts between or among the Company and its Affiliates, with respect to
the Leased Real Property or otherwise relating to the use and occupancy of the Real Property other
than the Permitted Exceptions. With respect to each Lease, except as expressly set forth in
<U>Section&nbsp;4.8(b)</U> of the Seller Disclosure Schedule: (i)&nbsp;the Company is not in default
thereunder, and to the knowledge of the MGM Entities, each party (other than the Company) named
therein is not in default thereunder; (ii)&nbsp;no defaults (whether or not subsequently cured) are
currently alleged thereunder, by or against any party, and to the knowledge of the MGM Entities, no
event has occurred or failed to occur or circumstance exists which, with the delivery of notice,
the passage of time or both, would constitute such a breach or default, or permit the termination,
modification or acceleration of rent under such Lease; (iii)&nbsp;such Lease is a valid and binding
obligation upon the Company, and is a valid and binding obligation of each other party thereto, and
is in full force and effect and enforceable by the Company in accordance with its terms, except as
such enforceability may be limited by (x)&nbsp;bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance or similar Laws now or hereafter in effect relating to creditors&#146; rights
generally, and (y)&nbsp;general principles of equity (regardless of whether enforcement is considered in
a proceeding at Law or in equity); (iv)&nbsp;the Company owes no brokerage commissions or finders fees
with respect to any Lease; (v)&nbsp;no security deposit or portion thereof deposited with respect to
such Lease has been applied in respect of a breach or default under such Lease that has not been
redeposited in full, except where the failure to redeposit such security deposit would not have a
Material Adverse Effect; (vi)&nbsp;the interest of tenant thereunder has not been subleased, licensed,
or assigned, and no Person has otherwise been granted the right to use or occupy the Leased Real
Property or any portion thereof; and (vii)&nbsp;other than the Permitted Exceptions, the interest of the
Company thereunder has not been collaterally assigned nor has any other security interest in such
Lease or any interest therein been granted and (viii)&nbsp;there are no Encumbrances, Contracts,
defects, claims or exceptions on or affecting the estate or interest created thereby or pursuant
thereto. The Company is in lawful possession of the Leased Real Property, subject only to
Permitted Exceptions and those matters
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">described in the Seller Disclosure Schedule, and the Company is not a party to any Contract to
purchase any real property or interest therein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;A complete, accurate and current rent roll for the Tenant Leases (the &#147;<U>Rent Roll</U>&#148;)
is set forth in <U>Section&nbsp;4.8(c)</U> of the Seller Disclosure Schedule. There are no Tenant
Leases with respect to the Real Property other than the Tenant Leases which are set forth on the
Rent Roll. Except as set forth in the Rent Roll, as of the date of this Agreement: (i)&nbsp;each Tenant
Lease is in full force and effect; (ii)&nbsp;the tenants under the Tenant Leases have accepted
possession of, and are in occupancy of, all of their respective demised premises and have commenced
the payment of rent under the Tenant Leases to the extent set forth on the Rent Roll, and to the
knowledge of the MGM Entities there are no offsets, claims or defenses to the enforcement thereof
presently outstanding; (iii)&nbsp;all rents due and payable under the Tenant Leases have been paid and
no portion of any rent has been paid for any period more than thirty (30)&nbsp;days in advance; and
(iv)&nbsp;the rent payable under each Tenant Lease is the amount of rent set forth in the Rent Roll, and
to the knowledge of the MGM Entities there is no claim or basis for a claim by the tenant
thereunder for an adjustment to such rent; (v)&nbsp;no tenant or other party in possession of any of the
Real Property subject to the Tenant Leases has any right to purchase, or holds any right of first
refusal to purchase, such properties; (vi)&nbsp;no Tenant Lease letter of credit has been delivered as a
security deposit, or in lieu of cash security deposit, under any Tenant Lease; (vii)&nbsp;there is no
tenant improvement work remaining to be done under any Tenant Lease and (viii)&nbsp;there are no
remaining rent concessions, tenant allowances or abatements with respect to any Tenant Lease. All
security deposits under the Tenant Leases are as set forth on the Rent Roll and the Company is in
material compliance with all Laws with respect to all security deposits. The Rent Roll sets forth
the scheduled expiration date of each Tenant Lease and any arrearages in the payment of rent
thereunder as of the date of the Rent Roll. Each Tenant Lease is enforceable in accordance with
its terms, except as such enforceability may be limited by (x)&nbsp;bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance or other similar Laws now or hereafter in effect
relating to creditors&#146; rights generally and (y)&nbsp;general principles of equity (regardless of whether
enforcement is considered in a proceeding at Law or in equity). The MGM Entities have made
available to Purchaser complete, accurate and current copies of each Tenant Lease. The Company
does not and will not owe any brokerage commissions in respect of the Tenant Leases.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;All buildings, structures, fixtures, fences, walls, paving, parking areas, driveways,
walkways, plazas, landscaping, permanently affixed utility systems and other improvements existing,
located on or attached to the Real Property (collectively, the &#147;<U>Real Property
Improvements</U>&#148;), and all buildings, structures, fixtures, fences, fountains, walls, paving,
parking areas, driveways, walkways, plazas, landscaping, permanently affixed utility systems and
other improvements existing, located on or attached to the Joint Valet Parcel or the Joint Employee
Garage Parcel (collectively, the &#147;<U>Joint Improvements</U>&#148; and together with the Real Property
Improvements, the &#147;<U>Improvements</U>&#148;), are in good condition and repair in all material
respects, subject to reasonable wear and tear, and there are no facts or conditions affecting any
of the Improvements that would materially and adversely interfere with the use or occupancy of the
Improvements or any portion thereof in the operation of the business presently conducted thereon.
To the knowledge of the MGM Entities, there are no hidden or latent defects that would not be found
or disclosed on inspection of the Real Property and the Improvements.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Neither Seller nor the Company has received notice of, nor do the MGM Entities have any
knowledge of, any currently proposed or pending assessment on the Real Property or the Joint Valet
Parcel or the Joint Employee Garage Parcel for public improvements or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;The present use of the Improvements is, and the Improvements themselves are, in all
material respects, in substantial conformity with or excused from conformity with, all applicable
zoning Laws, and neither the Company nor Seller has received written notice of, nor do the MGM
Entities have knowledge of, a violation thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;Except as set forth in <U>Section&nbsp;4.8(g)</U> of the Seller Disclosure Schedule, the
Company has not received written notice of any action, proceeding or litigation pending, overtly
contemplated or threatened: (i)&nbsp;to take all or any material portion of the Real Property, the Joint
Valet Parcel or the Joint Employee Garage Parcel, or any interest therein, by eminent domain; (ii)
to modify the zoning of, or other governmental rules or restrictions applicable to, the Real
Property or the Joint Valet Parcel or the Joint Employee Garage Parcel or the use or development
thereof; (iii)&nbsp;for any street widening or changes in highway or traffic lanes or patterns in the
immediate vicinity of the Real Property or the Joint Valet Parcel or the Joint Employee Garage
Parcel, except with respect to disclosures routinely given by Clark County pursuant to Section
30.52.030(a) of the Clark County Code and the Transportation Element of the Clark County
Comprehensive Plan, respecting Clark County&#146;s general authority to seek street widening or changes
in highway or traffic lanes or patterns; or (iv)&nbsp;otherwise relating to the Real Property or the
Joint Valet Parcel or the Joint Employee Garage Parcel, or the interests of the Company therein as
to matters that would not have a Material Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;Except as disclosed in <U>Section&nbsp;4.8(h)</U> of the Seller Disclosure Schedule, or as
otherwise contemplated by this Agreement, there are no Contracts or other obligations outstanding
for the sale, exchange, Encumbrance or transfer of the Real Property or the Joint Valet Parcel or
the Joint Employee Garage Parcel, or any portion thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To the extent in the Company&#146;s or Seller&#146;s possession, custody or control, the Company and
Seller have made available to Purchaser complete, accurate and current copies of all deeds,
mortgages, surveys, licenses, title insurance policies, certificates of occupancy, or equivalent
documentation with respect to the Real Property and other documents relating to or affecting the
title to the Owned Real Property or leasehold interests in the Leased Real Property in the Company
or Seller&#146;s possession.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;Except as disclosed in <U>Section&nbsp;4.8(j)</U> of the Seller Disclosure Schedule, the
parcels constituting the Owned Real Property are assessed separately from all other adjacent
property not constituting Owned Real Property for purposes of real property Taxes and the Leased
Real Property and each of the parcels of the Owned Real Property complies with all applicable
subdivision, land parcelization and local governmental taxation or separate assessment
requirements, without reliance on property not constituting Real Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;Except as contemplated by this Agreement, there are no Contracts or other obligations
outstanding for the sale, exchange, Encumbrance or transfer of any of the Real Property or the
Joint Valet Parcel or the Joint Employee Garage Parcel, or any portion thereof.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Except as disclosed in <U>Section&nbsp;4.8(k)</U> of the Seller Disclosure Schedule, all requisite
certificates of occupancy required with respect to the Improvements have been obtained and are
currently in full force and effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;There is direct access to and from each of the Real Property, Joint Valet Parcel, and
Joint Employee Garage Parcel and to publicly dedicated streets and, to the knowledge of the MGM
Entities, no fact or condition exists that would result in the termination of access to and from
such properties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;None of the MGM Entities have knowledge of any soil compaction or subsurface conditions
that would interfere with the ability any of the Real Property, Joint Valet Parcel and Joint
Employee Garage Parcel to support the Improvements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;None of the Real Property, Joint Valet Parcel, or Joint Employee Garage Parcel is in a
designated wetland, flood plain or flood insurance area, including, without limitation, any area
determined by the Department of Housing and Urban Development to be in a flood zone under the
Federal Flood Protection Act of 1973.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;All utilities, including, without limitation, water, waste removal systems, electricity,
gas and telephone, are available to each of the Real Property, Joint Valet Parcel, Joint Employee
Garage Parcel and Improvements in sufficient quantity to adequately service such properties and
Improvements for the uses intended by Purchaser.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;All labor and materials used in the construction or preparation of the Real Property,
Joint Valet Parcel, Joint Employee Garage Parcel and Improvements have been paid for and there are
no disputes with regard thereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;The Real Property is zoned H-1 under Section&nbsp;30.40.320 of the Clark County Code, and there
are no conditions or stipulations applicable to the Real Property beyond the face of such zoning
ordinance, including, without limitation, that are part of any site plan approval, except to the
extent set forth in the Land Use Permits (defined below).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;<U>Section&nbsp;4.8(r)</U> of the Seller Disclosure Schedule shall, on or prior to the date
that is thirty (30)&nbsp;days from the date of this Agreement (as such <U>Section&nbsp;4.8(r)</U> is updated
by Seller and the Company prior to such date), set forth a complete list, with respect to the Real
Property and Improvements, of all current valid use permits (including conditional use permits),
zoning variances, and other governmental permits, consents, approvals and authorizations necessary
for the current use of the Real Property and the Improvements, and, to the extent used by the
Company, the Existing Parcel and the Joint Employee Garage Parcel, to be used in compliance with
applicable Laws, irrespective of whether such permits, variances and other matters are currently
held in the name of Company or some other Person, or whether used by Company jointly with any other
Person (collectively the &#147;<U>Land Use Permits</U>&#148;). To the knowledge of the MGM Entities, except
as set forth in <U>Section&nbsp;4.8(s)</U> of the Seller Disclosure Schedule, the Company uses the Real
Property and the Improvements, and Seller and the Company use the Existing Parcel and the Joint
Employee Garage Parcel and all improvements thereon, in all material respects in conformity with
such Land Use Permits, and may continue to do so after the
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Closing. No proceeding is pending or, to the knowledge of the MGM Entities, threatened regarding
the revocation or limitation of any such Land Use Permits.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;<U>Section&nbsp;4.8(s)</U> of the Seller Disclosure Schedule sets forth a complete list of all
current valid water rights, certificates or permits (including any temporary or conditional rights,
certificates or permits) (collectively, the &#147;<U>Existing Parcel Water Rights</U>&#148;) that are or
have been used in connection with the operation or use of the Real Property, Joint Valet Parcel,
Joint Employee Garage Parcel or Improvements. To the knowledge of the MGM Entities, except as set
forth on <U>Section&nbsp;4.8(s)</U> of the Seller Disclosure Schedule, the Company uses the Real
Property and the Improvements in all material respects in conformity with the Existing Parcel Water
Rights. No proceeding is pending or, to the knowledge of Seller, threatened regarding the
revocation or limitation of any Existing Parcel Water Rights. Parent or its Affiliate
currently operates a water system on the Existing Parcel consisting of four wells and a reverse
osmosis machine (the &#147;<U>Water System</U>&#148;). Water is taken from these wells, treated at the
reverse osmosis machine, and used on the Existing Parcel both for the benefit of the Treasure
Island Hotel and Casino and the Mirage Hotel and Casino. The Parties wish to, upon Closing, cause
the transfer to the Company the operation and maintenance of the Water System and those permits
listed under &#147;Water Rights&#148; on <U>Section&nbsp;4.8(s)</U> of the Seller Disclosure Schedule (the
&#147;<U>Water Rights</U>&#148;). The Parties agree that upon execution of the Agreement they will use good
faith efforts to transfer the entire Water System and Water Rights to the Company upon Closing.
Necessary actions to complete such a transfer may include, but may not be limited to, identifying
all of the elements of the Water System, granting easements to the Company, ensuring the proper
permitting of the Water System, and reaching an agreement between Parent or an Affiliate, on the
one hand, and the Company, on the other, for interim services, the division of water, and/or the
operation of the Water System by Parent or an Affiliate for a limited period of time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.9 <U>Tangible Personal Property</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section&nbsp;4.9</U> of the Seller Disclosure Schedule sets forth each item of Tangible
Personal Property (other than inventory, supplies and immaterial personal property) owned by the
Company. <U>Section&nbsp;4.9 </U>of the Seller Disclosure Schedule sets forth each item of Tangible
Personal Property leased by the Company, which lease is not terminable by the Company upon 60&nbsp;days
or less notice without penalty (other than pursuant to individual leases having an annual rental of
less than One Hundred Thousand Dollars ($100,000)) (the &#147;<U>Tangible Personal Property
Leases</U>&#148;). <U>Section&nbsp;4.9</U> of the Seller Disclosure Schedule lists each live gaming device
(including gaming tables), electronic gaming devices (including all slot machines), mobile gaming
devices, and other regulated gaming equipment owned, leased or otherwise used by the Company, all
of which constitute Tangible Personal Property. Except as set forth in <U>Section&nbsp;4.9</U> of the
Seller Disclosure Schedule, the Tangible Personal Property owned by the Company is free and clear
of all Encumbrances and Permitted Exceptions. Except as set forth in <U>Section&nbsp;4.9</U> of the
Seller Disclosure Schedule, the Tangible Personal Property owned, leased or otherwise used by the
Company is located at the Real Property. To the knowledge of the MGM Entities, the Tangible
Personal Property owned, leased or otherwise used by the Company is in working order, subject to
ordinary wear and tear, or, if not, such failure would not, individually or in the aggregate, have
a Material Adverse Effect. With respect to each Tangible Personal Property Lease, there has been
no breach or default or claim of default by the Company under any such Tangible Personal Property
Lease to which it is a party, or to the knowledge of the Seller or the Company, any
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">other party thereto, under any provision thereof and no event has occurred with or without
notice, the passage of time, or both, which would constitute a default by it, or to its knowledge
by any other party thereto, under any provision thereof or that would permit modification,
acceleration or termination of any Tangible Personal Property Lease by any other party thereto or
by it, except where such failure to perform, breach, default, claim of default, acceleration, or
termination would not, individually or in the aggregate, have a Material Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.10 <U>Intellectual Property</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Section&nbsp;4.10(a)</U> of the Seller Disclosure Schedule sets forth a complete list of
Owned Intellectual Property that is material to the business of the Company, including whether such
Intellectual Property is owned exclusively by the Company (and if not, identifying the other
Persons with an ownership interest therein) and whether such Owned Intellectual Property is
registered or an application for registration with respect thereto has been filed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Section&nbsp;4.10(b)</U> of the Seller Disclosure Schedule sets forth a complete list of
all IP Agreements and IP Enforcement Documents that are material to the business of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Section&nbsp;4.10(c)</U> of the Seller Disclosure Schedule sets forth a complete list of
Assigned Intellectual Property that is material to the business of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Except as set forth on <U>Section&nbsp;4.10(d)</U> of the Seller Disclosure Schedule, there is
no pending or, to the knowledge of the MGM Entities, threatened IP Claim against the Company
involving Owned Intellectual Property or Used Intellectual Property, and, to the knowledge of the
MGM Entities, there is no reasonable basis for an IP Claim regarding any of the foregoing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Except as set forth on <U>Section&nbsp;4.10(e)</U> of the Seller Disclosure Schedule, none of
Parent or its Affiliates has brought or threatened an IP Claim against any Person involving Owned
Intellectual Property or Used Intellectual Property, and, to the knowledge of the MGM Entities,
there is no reasonable basis for a material IP Claim regarding any of the foregoing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;To the knowledge of the MGM Entities, there exists no event or condition (including the
consummation of the transactions contemplated by this Agreement) that will result in a violation or
breach of, or constitute (with the giving of notice or lapse of time, or both, would become) a
default under any material IP Agreement or material IP Enforcement Documents by the Company or any
other party thereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;Except as set forth on Section&nbsp;4.10(g) of the Disclosure Schedule, at Closing, (i)&nbsp;the
Company will own all Owned Intellectual Property, free and clear of all Encumbrances and Permitted
Exceptions, and have the valid and enforceable right to Use all Used Intellectual Property and (ii)
all Owned Intellectual Property will list the Company as the sole current owner of record for each
continuing application and registration listed in Section&nbsp;4.10(a) of the Disclosure Schedule with
the appropriate United States, state or foreign Governmental Entity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;Except as set forth on Section&nbsp;4.10(h) of the Disclosure Schedule, and except for
Trademarks for which registration efforts will not be pursued or will not be renewed due to
discontinued use and Domain Names that will not be maintained or have been discontinued and allowed
to reenter the Domain Name market as set forth on Section&nbsp;3.10(a) of the Disclosure
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Schedule, each of the Owned Intellectual Property and the Used Intellectual Property has been
duly maintained, is subsisting, in full force and effect, has not been cancelled, expired or
abandoned, and is valid and enforceable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;The Company takes reasonable measures to protect the confidentiality of its Trade Secrets.
Except as set forth in Section&nbsp;4.10(j) of the Disclosure Schedule, to the knowledge of the MGM
Entities, no Trade Secret of the Company has been disclosed or authorized to be disclosed to any
third Person other than pursuant to a written non-disclosure agreement that adequately protects its
proprietary interests in and to such Trade Secrets, except where such disclosure would not
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;Neither this Agreement nor the transactions contemplated by this Agreement will result in
(i)&nbsp;any Person being granted rights or access to, or the placement in or release from escrow of,
any Owned Intellectual Property, (ii)&nbsp;the granting to any Person of rights to Owned Intellectual
Property greater than the rights granted prior to the date of this Agreement, (iii)&nbsp;the Company
being bound by, or subject to, any non-compete or other restriction on the operation or scope of
its business greater than the restrictions to which the Company is bound or subject to prior to the
date of this Agreement or (iv)&nbsp;the Company being obligated to pay any royalties or other amounts to
any Person in excess of the amounts payable by the Company prior to the date of this Agreement,
except in each case where such result would not reasonably be expected to have, individually or in
the aggregate, a Material Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;Except as set forth on Schedule&nbsp;4.10(k) of the Disclosure Schedule, none of Parent or its
Affiliates or any current or former stockholder, partner, member, director, officer or employee of
Parent or its Affiliates (or any of their respective predecessors in interest) has or will have,
after giving effect to the transactions contemplated by this Agreement, any legal or equitable
right, title, or interest in or to, or any right to Use, directly or indirectly, in whole or in
part, any Owned Intellectual Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;The Company discloses its personal data collection and use policies on its website(s) and
is in compliance with such posted data protection practices and all applicable Laws, except for
such violations as would not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.11 <U>Contracts</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Except for those Contracts that are terminable by the Company upon sixty (60)&nbsp;days notice
or less without penalty, <U>Section&nbsp;4.11(a)</U> of the Seller Disclosure Schedule sets forth a
complete, accurate and current list of any Contract providing for aggregate annual payments to or
by the Company in excess of Five Hundred Thousand Dollars ($500,000) (collectively the
&#147;<U>Material Contracts</U>&#148;). Upon mutual agreement of the Parties or as expressly permitted by
<U>Section&nbsp;6.1</U>, <U>Section&nbsp;4.11(a)</U> of the Seller Disclosure Schedule may be amended after
the date of this Agreement to add as Material Contracts additional Contracts entered into after the
date hereof by the Company. Each Material Contract is a valid and binding obligation of the
Company and, to the knowledge of the Seller and the Company, is a valid and binding obligation of
each other party thereto, and is in full force and effect and enforceable by the Company in
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">accordance with its terms, except as such enforceability may be limited by (i)&nbsp;bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or similar Laws now or hereafter in
effect relating to creditors&#146; rights generally and (ii)&nbsp;general principles of equity (regardless of
whether enforcement is considered in a proceeding at law or in equity). The Company has performed
all material obligations required to be performed by it under each Material Contract to which it is
a party, and there has been no breach or default or claim of default by it or, to its knowledge by
any other party thereto, under any provision thereof and no event has occurred which, with or
without notice, the passage of time or both, would constitute a default by it, or, to its knowledge
any other party thereto, under any provision thereof or that would permit modification,
acceleration or termination of any Material Contract by any other party thereto or by it, except
where such failure to perform, breach, default, claim of default, modification, acceleration or
termination would not have, individually or in the aggregate, a Material Adverse Effect. Except as
set forth in Section&nbsp;4.11(a) of the Disclosure Schedules, the enforceability after the Closing by
the Company of the Material Contracts shall not be affected in any material respect by the
execution and delivery of this Agreement and the consummation of the transactions contemplated
hereby, and no notice to, or consent, approval or waiver is required from any other Person.
Complete copies of each of the Contracts set forth in Section&nbsp;4.11(a) of the Disclosure Schedules
have been delivered or made available by the Seller to the Purchaser.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Other than the transactions contemplated by this Agreement or as set forth in <U>Section
4.11(b)</U> of the Seller Disclosure Schedule, there are no Contracts between or among the Company
on the one hand, and Parent and its Affiliates (other than the Company), on the other hand (the
&#147;<U>Affiliate Contracts</U>&#148;), which would survive the Closing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Company is not a party to or bound by: (i)&nbsp;any Contract for the purchase or sale of
any security, except as contemplated by this Agreement, (ii)&nbsp;any Contract containing a covenant
that restricts the Company&#146;s ability to compete in any business activity (excluding any exclusivity
arrangement under the Tenant Leases), or (iii)&nbsp;any material purchase and sale agreement outside of
the Ordinary Course of Business of the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.12 <U>Litigation</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in <U>Section&nbsp;4.12</U> of the Seller Disclosure Schedule, (a)&nbsp;there is no
action, suit or proceeding, claim, arbitration or investigation, including indemnification matters,
against the Company or any property or asset of the Company, pending or, to the knowledge of the
MGM Entities, threatened against the Company or any of its properties or assets, before any
Governmental Entity or arbitration body, the adverse determination of which would have a Material
Adverse Effect, (b)&nbsp;there is no Governmental Order or arbitration award outstanding against the
Company or any of its properties or assets, which would have a Material Adverse Effect or which
would adversely affect in a material manner the ability of Purchaser to consummate the acquisition
of the Equity Interests, and (c)&nbsp;there is no action, suit or proceeding, claim, arbitration or
investigation, including indemnification matters, by the Company, pending, or as to which the
Company has sent any notice of assertion. To the knowledge of the MGM Entities, the Company is not
a party or subject to (including any property or asset of the Company) or in default of a
Governmental Order or arbitration award.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.13 <U>Environmental Matters</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in <U>Section&nbsp;4.13</U> of the Seller Disclosure Schedule, to the
knowledge of Seller and the Company:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Company is in compliance in all material respects with all applicable Environmental
Laws (which compliance includes the possession by the Company of all permits and other Governmental
Approvals required under applicable Environmental Laws, and compliance with the terms and
conditions thereof), except where the failure to comply would not have a Material Adverse Effect.
The Company has not received any written or oral notice from a Person alleging that the Company is
not in such compliance, and there are no present or past actions, activities, circumstances,
conditions, events or incidents that may prevent or interfere with such compliance. All
Governmental Approvals currently held by the Company pursuant to applicable Environmental Laws are
set forth in <U>Section&nbsp;4.13</U> of the Seller Disclosure Schedule.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Except for (i)&nbsp;notice to an issuing Governmental Entity, (ii)&nbsp;the processing of an
administrative amendment with an issuing Governmental Entity, or (iii)&nbsp;filing for a replacement
permit, in each case resulting from the change in control of the permittee or a change in the name
or contact information of the Persons identified in the Governmental Approval resulting from the
change in control, no transfers of permits or other Governmental Approvals under Environmental
Laws, and no additional permits or other Governmental Approvals under Environmental Laws, will be
required to permit the Purchaser to conduct its business in compliance with all applicable
Environmental Laws immediately following the Closing Date, so long as such business is conducted in
substantially the same manner as conducted by the Company immediately prior to the Closing Date.
Within thirty (30)&nbsp;days of the date hereof, the Seller shall provide the Purchaser with a list of
each notice, administrative amendment and filing for a replacement permit referred to in the
foregoing sentence.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;There is no Environmental Claim pending or threatened against the Company or any Person
whose Liability for any Environmental Claim the Company has or may have retained or assumed either
by Contract or by operation of Law, the adverse determination of which would have a Material
Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;There are no known present or past actions, activities, circumstances, conditions, events
or incidents, including the Release or threatened Release of any Hazardous Materials on, any of the
Real Property, that are reasonably expected to form the basis of any Environmental Claim against
the Company or any Person whose Liability for any Environmental Claim the Company has or may have
retained or assumed either by Contract or by operation of Law, the adverse determination of which
would have a Material Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;During the period of Parent&#146;s ownership of the Company, the Company has not stored,
deposited, discharged, buried, dumped or disposed of Hazardous Materials or any other hazardous
wastes produced by, or resulting from, any business, commercial or industrial activities,
operations or processes, on, beneath or, without any duty of nor undertaking of any investigation
or inquiry by the Company, adjacent to any property currently or formerly owned, operated or leased
by the Company, except (i)&nbsp;for inventories of such substances to be used, and wastes generated
therefrom, in the Ordinary Course of Business of the Company (which
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">inventories and wastes, if any, were and are stored or disposed of in accordance with applicable
Environmental Laws), or (ii)&nbsp;as would not have a Material Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;The Company has delivered or made available to Purchaser complete, accurate and current
copies and results of any reports, studies, analyses, tests or monitoring possessed or initiated by
or on behalf of the Company and in its possession pertaining to Hazardous Materials, if any, in,
on, beneath or adjacent to any of the Real Property or regarding the Company&#146;s compliance with
applicable Environmental Laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;None of the Real Property contains any of the following in violation of Environmental Laws
or is operated in such a manner that is reasonably expected to form the basis of an Environmental
Claim: underground storage tanks; asbestos; polychlorinated biphenyls (PCBs); toxic mold;
underground injection wells; radioactive materials; or septic tanks or waste disposal pits which
process wastewater or any Hazardous Materials have been discharged or disposed, except for any
violation that would not reasonably be expected to have a Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.14 <U>Employee Benefit Plans</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Section&nbsp;4.14(a)</U> of the Seller Disclosure Schedule sets forth a complete, accurate
and current list of each deferred compensation and each bonus or other incentive compensation,
stock purchase, stock option and other equity compensation plan, program, agreement or arrangement,
each severance or termination pay, medical, surgical, hospitalization, life insurance and other
&#147;welfare&#148; plan, fund or program (within the meaning of section 3(1) of ERISA); each profit-sharing,
stock bonus or other &#147;pension&#148; plan, fund or program (within the meaning of section 3(2) of ERISA),
each employment, termination, change in control or severance agreement; and each other material
employee benefit plan, fund, program, agreement or arrangement; in each case, that is sponsored,
maintained or contributed to or required to be contributed to by the Company, Parent or by any
trade or business other than the Company, whether or not incorporated, that together with Parent
would be deemed a &#147;single employer&#148; within the meaning of section 4001(b) of ERISA (an &#147;<U>ERISA
Affiliate</U>&#148;), or to which the Company, Parent or an ERISA Affiliate is a party, whether written
or oral, for the benefit of any of the Company&#146;s employees or former employee or their dependents
or beneficiaries (collectively, the &#147;<U>Plans</U>&#148;). None of the Company, Parent or any ERISA
Affiliate has any legally binding or publicly announced commitment or formal plan to create any
additional employee benefit plan or modify or change any existing Plan that would affect any
employee or former employee of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;With respect to each Plan, Seller has delivered or made available to Purchaser complete,
accurate and current copies of each of the following documents, each of which is in all material
respects in compliance with all applicable laws, including but not limited to the Code and ERISA:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a copy of the Plan and any amendments thereto (or if the Plan is not a
written Plan, a written description of the material terms thereof);
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a copy of the two most recent annual reports and actuarial reports, if
required under ERISA, and the most recent report (if any) prepared with respect
thereto in accordance with Statement of Financial Accounting Standards No.&nbsp;87;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a copy of the most recent Summary Plan Description required under ERISA
with respect thereto;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) if the Plan is funded through a trust or any third-party funding vehicle,
a copy of the trust or other funding agreement and the latest financial statements
thereof (if any); and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the most recent determination letter received from the IRS with respect to
each Plan intended to qualify under section 401 of the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Other than the Multiemployer Plan, none of the Plans is subject to Section&nbsp;302 or Title IV
of ERISA or Section&nbsp;412 of the Code, and the Company has no Liability under Title IV or Section&nbsp;302
of ERISA with respect to any plan sponsored, maintained or contributed to (or required to be
contributed to) by Parent or any ERISA Affiliate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;As of the date of this Agreement, all contributions required to be made on or before
December&nbsp;31, 2007 with respect to any Plan have been timely made, or are reflected on the audited
consolidated balance sheet (or the notes thereto) of Parent contained in its Form 10-K for the
fiscal year ended December&nbsp;31, 2007 to the extent such contributions were required to have been so
reflected by GAAP. There has been no amendment to, written interpretation of or announcement
(whether or not written) by Parent or any ERISA Affiliate relating to, or change in employee
participation or coverage under, any Plan that would increase materially the expense of maintaining
such Plan above the level or expense incurred in respect thereof for the Parent&#146;s most recent
fiscal year ended prior to the date of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Except as set forth in <U>Section&nbsp;4.14(e)</U> of the Seller Disclosure Schedule or in
Section&nbsp;6.11(b) of this Agreement, the consummation of the transactions contemplated by this
Agreement will not, either alone or in combination with another event, (i)&nbsp;entitle any current or
former director, officer or employee of the Company to severance pay, unemployment compensation or
any other payment or distribution, (ii)&nbsp;accelerate the time of payment or vesting of any benefits
granted under any Plan, or increase, the amount of compensation due any such director, officer or
employee, (iii)&nbsp;result in the forgiveness of any Indebtedness with respect to any such director,
officer or employee or (iv)&nbsp;result in the obligation to fund benefits with respect to any such
director, officer or employee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;There has been no material failure of a Plan that is a group health plan (as defined in
Section&nbsp;5000(b)(1) of the Code) to meet the requirements of Section&nbsp;4980B(f) of the Code with
respect to a qualified beneficiary (as defined in Section&nbsp;4980B(g) of the Code). Neither Parent
nor any ERISA Affiliate has contributed to a nonconforming group health plan (as defined in Section
5000(c) of the Code) and neither Parent nor any ERISA Affiliate of Parent has incurred a Tax under
Section 5000(a) of the Code that is or could become a Liability of Purchaser or the Company.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;With respect to each Plan that is a Multiemployer Plan, (i)&nbsp;the Company has not made or
suffered a &#147;complete withdrawal&#148; or &#147;partial withdrawal,&#148; as such terms are respectively defined in
sections 4203 and 4205 of ERISA (or, if made or suffered, any Liability resulting therefrom has
been satisfied in full), (ii)&nbsp;no event has occurred that presents a material risk of a partial
withdrawal, (iii)&nbsp;the Company does not have any contingent Liability under section 4204 of ERISA,
(iv)&nbsp;to the knowledge of the MGM Entities, no circumstances exist that present a material risk that
such Plan will go into reorganization, and (v)&nbsp;the Company has timely made all periodic
contributions required under the terms of such Multiemployer Plan or applicable collective
bargaining agreements and has not received notice of any delinquency, interest or liquidated
damages charges in relation to such contributions that have not been satisfied through payment or
other binding resolution. The Company has timely made all periodic contributions required under
the terms of the Hotel Employees and Restaurant Employees International Union Welfare Fund or
applicable collective bargaining agreement and has not received notice of any delinquency, interest
or liquidated damaged charges in relation to such contributions that have not been satisfied
through payment or other binding resolution
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.15 <u>Compliance with Applicable Laws</u>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as disclosed in <u>Section&nbsp;4.15</u> of the Seller Disclosure Schedule:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;(i)&nbsp;During the period of Parent&#146;s ownership of Seller and the Company, the Company is
complying with has complied with, all applicable Laws (including all Gaming Laws), except where the
failure to have been in compliance or comply would not have, individually or in the aggregate, a
Material Adverse Effect, and (ii)&nbsp;the Company has not received written notice of any asserted
present or past failure to comply, nor, to the knowledge of the Seller or the Company, is aware of
any threatened action to do so, except where the failure to have been in compliance or comply would
not have, individually or in the aggregate, a Material Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Company has all Governmental Approvals necessary for it to carry on its non-gaming
business as now conducted and there have occurred no defaults, revocations or suspensions under any
such Governmental Approvals, except for such which would not have, individually or in the
aggregate, a Material Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Company holds all Gaming Licenses and Liquor Licenses necessary to operate its
business, and such Gaming Licenses and Liquor Licenses are in full force and effect and have not
been revoked or suspended, and there has been no violation of a type material to the continued
maintenance of the Company&#146;s Gaming Licenses or Liquor Licenses.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;During the period of Parent&#146;s ownership of Seller and the Company, the Company has not:
(i)&nbsp;applied for a casino, racing or other Gaming License in any state or other jurisdiction and
been denied; (ii)&nbsp;experienced any revocation or failure to renew any such license; or
(iii)&nbsp;withdrawn or not applied for any such license or renewal after being informed orally or in
writing by any Governmental Entity, that the Company would be denied such a license or renewal if
it were applied for.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Except as disclosed in Section&nbsp;4.15(e) of the Seller Disclosure Schedule, the Company has
no knowledge of any facts or circumstances relating to the conduct of the Company, or any director,
officer, employee or stockholder of the Company that would reasonably be expected to cause any
Nevada Gaming Authority to revoke, suspend or fail to renew the Company&#146;s Gaming Licenses or take
disciplinary action against the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;The Company&#146;s directors, managers, officers, employees, members, and stockholders hold all
Governmental Approvals (including all Gaming Licenses and other authorizations under Gaming Laws
and Liquor Licenses) necessary to carry on its business as now conducted, each of which is in full
force and effect, and there has occurred no default, revocation or suspension under any such
Governmental Approval.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;To the knowledge of the MGM Entities, since January&nbsp;1, 2007, none of the Company&#146;s
directors, managers, officers, employees, members, or stockholders has received any claim, demand,
notice, complaint, or order from any Governmental Entity of any asserted failure by such Person to
comply with applicable Gaming Laws of a type material to the continued maintenance of the Company&#146;s
Gaming Licenses. Without limiting the generality of the foregoing, neither the Company nor, to the
knowledge of the MGM Entities, any of its directors, managers, officers, employees, members, or
stockholders, has made any payments to any Person in connection with its business, which payments
violate applicable Law, including, without limitation, the Foreign Corrupt Practices Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.16 <U>Labor Matters</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in <U>Section&nbsp;4.16</U> of the Seller Disclosure Schedule:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Company is, and during Parent&#146;s ownership of Seller and the Company it has been, in
compliance with all applicable Laws respecting employment and employment practices, terms and
conditions of employment, wages, hours of work, including but not limited to Title VII, ADA, ADEA,
USERRA, the OWBPA, FMLA and FLSA, and occupational safety and health, and is not engaged in any
unfair labor practices as defined in the NLRA or other applicable Law, except where the failure to
comply or any such labor practice would not, individually or in the aggregate, have a Material
Adverse Effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;There is no labor strike, dispute, slowdown, stoppage or lockout pending or, to the
knowledge of the MGM Entities, threatened against or affecting the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Company is not a party to or bound by any collective bargaining or similar agreement
with any labor organization, or work rules or practices agreed to with any labor organization or
employee association applicable to employees of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;None of the employees of the Company is represented by any labor organization in their
capacities as employees of the Company, and, to the knowledge of the MGM Entities, there are no
current union organizing activities among the employees of the Company, nor does any question
concerning representation exist concerning such employees.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Seller has delivered or made available to Purchaser a complete, accurate and current copy
of all written personnel policies, rules or procedures applicable to employees of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;The Company has not received written notice of any unfair labor practice charge or
complaint against it pending or threatened before the NLRB or any other Governmental Entity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;The Company has not received written notice of any grievance arising out of any collective
bargaining agreement or other grievance procedure against it.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;The Company has not received written notice of any charge or complaint with respect to or
relating to it pending before the Equal Employment Opportunity Commission or any other Governmental
Entity responsible for the prevention of unlawful employment practices.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;The Company has not received written notice from any Governmental Entity responsible for
the enforcement of labor, employment, wages and hours of work, or occupational safety and health
Laws of its intent to conduct an investigation with respect to or relating to it and no such
investigation is in progress.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;The Company has not received written notice of any complaint, lawsuit or other proceeding
pending or, to the knowledge of the MGM Entities, threatened in any forum by or on behalf of any
present or former employee of such entities, any applicant for employment or classes of the
foregoing alleging breach of any express or implied Contract of employment, any Law governing
employment or the termination thereof or other discriminatory, wrongful or tortious conduct in
connection with the employment relationship.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;Set forth in Section&nbsp;4.16(k) of the Seller Disclosure Schedule is a summary of all accrued
vacation Liability of the Company as of September&nbsp;30, 2008.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.17 <U>Compliance with the WARN Act</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in <U>Section&nbsp;4.17</U> of the Seller Disclosure Schedule, since the later
of: the enactment of the WARN Act and the acquisition by Parent of Seller and the Company, the
Company has not (a)&nbsp;effectuated a &#147;plant closing&#148; (as defined in the WARN Act) affecting any site
of employment or one or more facilities or operating units within any site of employment or
facility of the Company, (b)&nbsp;effectuated a &#147;mass layoff&#148; (as defined in the WARN Act) affecting any
site of employment or facility of the Company or (c)&nbsp;been affected by any transaction which would,
or engaged in layoffs or employment terminations sufficient in number to, trigger application of
any similar Law. None of the employees of the Company has suffered an &#147;employment loss&#148; (as
defined in the WARN Act) since six months prior to the date of this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.18 <U>Indebtedness</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section&nbsp;4.18</U> of the Seller Disclosure Schedule sets forth a complete, accurate and
current list of all outstanding Indebtedness of the Company as of the date of this Agreement which
would survive the Closing. The Company is not in default and no waiver of default is currently
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">in effect, in the payment of any principal or interest on any Indebtedness of the Company and
no event or condition exists with respect to any Indebtedness of the Company that would permit (or
that with notice or lapse of time, or both, would permit) one or more Persons to cause such
Indebtedness to become due and payable before its stated maturity or before its regularly scheduled
dates of payment. Except as described in Section&nbsp;4.18 of the Seller Disclosure Schedules, the
Company has not agreed or consented to cause or permit in the future (upon happening of a
contingency or otherwise), itself or any of its equity interests, assets or properties, to be
subject to any Encumbrance or any Permitted Exception.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.19 <U>Insurance</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section&nbsp;4.19</U> of the Seller Disclosure Schedule sets forth a complete, accurate and
current description of all policies of property and casualty insurance, including physical damage,
general liability, workers compensation and all other forms of insurance and similar arrangements
(collectively, the &#147;<U>Policies</U>&#148;) presently in effect with respect to the properties, assets
and operations of the Company. Except as set forth in <U>Section&nbsp;4.19</U> of the Seller
Disclosure Schedule, all Policies are in full force and effect, all premiums with respect thereto
covering all periods up to and including the Closing Date have been paid, and no notice of
cancellation or termination has been received with respect to any Policies, except for such
cancellations or terminations which would not have, individually or in the aggregate, a Material
Adverse Effect; and no insurance or proceeds relating to such Policies have been assigned by the
Company to any Person. For each Policy, <U>Section&nbsp;4.19</U> of the Seller Disclosure Schedule
sets forth: (a)&nbsp;the date thereof; (b)&nbsp;the name of the insurer; (c)&nbsp;the names of the entities
covered thereby; and (d)&nbsp;the expiration date. Except as set forth in <U>Section&nbsp;4.19</U> of the
Seller Disclosure Schedule, the Policies: (w)&nbsp;are sufficient for compliance in all material
respects with all Contracts to which the Company is a party or bound, (x)&nbsp;are valid, outstanding
and enforceable, and (y)&nbsp;provide sufficient insurance coverage for the properties, assets and
operations of the Company. The Seller has delivered or made available to Purchaser a list of all
claims made under the Policies set forth in <U>Section&nbsp;4.19</U> of the Seller Disclosure Schedule
and of all payments made to the Company thereunder since January&nbsp;1, 2008, and the information
contained in such list is complete, accurate and current. Any insurance premium refunds relating
to the operations of the Company during the period prior to the Closing are to be retained by
Seller or Parent.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.20 <U>Internal Controls and Procedures</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company maintains accurate books and records reflecting its assets and liabilities and
maintains proper and adequate internal accounting controls that provide assurance that:
(a)&nbsp;transactions are executed with management&#146;s authorization; (b)&nbsp;transactions are recorded as
necessary to permit preparation of its financial statements and to maintain accountability for its
assets; (c)&nbsp;the reporting of its assets is compared with existing assets at regular intervals; and
(d)&nbsp;accounts, notes and other receivables and inventory are recorded accurately, and proper and
adequate procedures are implemented to effect the collection thereof on a current and timely basis.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.21 <U>Brokers</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No broker, financial advisor or finder is entitled to any brokerage fees, commissions or
finder&#146;s fees in connection with the transactions contemplated by this Agreement based upon
arrangements made by or on behalf of the MGM Entities or their respective Affiliates.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.22 <U>Solvency; Sufficient Capital</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After giving effect to the Intercompany Account Settlement, (a)&nbsp;the fair saleable value of all
of the assets and properties (including goodwill) of the Company will be greater than the total of
its Liabilities and (b)&nbsp;the projected cash flow from operating activities of the Company is
sufficient to pay the probable Liability on its existing debts as such debts become due and payable
and will not result in unreasonably small capital of the Company. The Company currently pays its
Liabilities as they become due and payable in the ordinary course of business.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.23 <U>Sufficiency of Assets and Contracts</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except with respect to the Retained Property and the matters set forth in <U>Section&nbsp;4.23</U>
of the Seller Disclosure Schedule, after giving effect to the Closing, the Company will own or
license, lease from or contract with a Person that is not an Affiliate of Parent all assets and
rights (including, without limitation, Intellectual Property, Real Property, Tangible Personal
Property, IP Agreements, Material Contracts and Leases) that are reasonably necessary for the
conduct of its business in substantially the same manner as presently conducted.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.24 <u>&#091;Intentionally omitted&#093;.</u>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.25 <u> Receivables</u>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller has delivered to Purchaser a complete, accurate and current copy of a list and the
aging of the accounts receivable and casino collection receivables, by customer, of the Company
that were outstanding as of October&nbsp;31, 2008. All accounts receivable and casino collection
receivables (a)&nbsp;arise out of bona fide sales and deliveries of goods, performance of services or
other transactions in connection with the business and represent income earned in the Ordinary
Course of Business, and (b)&nbsp;are not subject to material defenses, setoffs or counterclaims to the
knowledge of the MGM Entities, other than normal allowances. Unless paid prior to the Closing
Date, the accounts receivable and casino collection receivables of the Company are expected to be
collected in the Ordinary Course of Business, net of the reserves set forth on the balance sheet of
the Company as of October&nbsp;31, 2008.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.26 <u>&#091;Intentionally omitted&#093;.</u>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.27 <u>Knowledge</u>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whenever in the course of the representations and warranties of an MGM Entity set forth in
this <U>ARTICLE IV</U>, reference is made in connection with any matter to the knowledge of such
Party, Purchaser understands and intends that such reference shall be deemed to include only those
matters within the knowledge, after due inquiry, of any of Tom Mikulich, Jay Kulesza,
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mark Russell or Corey Sanders, as would be imputed to such Persons after a reasonable internal
inquiry.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.28 <U>Nevada Takeover Statutes</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of the date hereof and at all times on or prior to the Closing, the provisions of Sections
78.378 through 78.3793 of the NRS are, and shall be, inapplicable to the transactions contemplated
by this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.29 <U>Projections</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser is an informed and sophisticated purchaser experienced in the evaluation and
purchase of interests similar to the Equity Interests. Purchaser on behalf of itself and each of
its Affiliates acknowledges that Seller makes no representation or warranty with respect to any
projections, budgets, or estimates delivered or made available to Purchaser or its Affiliates of
future revenues, future results of operations (or any component thereof) of the business or future
business of the Company.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE V</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>REPRESENTATIONS AND WARRANTIES OF PURCHASER</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser represents and warrants to the MGM Entities that the statements contained in this
<U>ARTICLE V</U> are true and correct, except as set forth herein and in the disclosure schedule
delivered by Purchaser to Seller before the execution and delivery of this Agreement (the
&#147;<U>Purchaser Disclosure Schedule</U>&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.1 <U>Organization of Purchaser</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser is a limited liability company duly organized, validly existing and in good standing
under the laws of the State of Nevada.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.2 <U>Ownership</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Hundred Percent (100%) of the equity interests of Purchaser is owned of record and
beneficially by Phillip Ruffin.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.3 <U>Authority; No Conflict; Required Filings and
Consents</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Purchaser has all requisite limited liability company power and authority to enter into
this Agreement and to consummate the transactions that are contemplated by this Agreement and to
perform its obligations hereunder. The execution and delivery of this Agreement by Purchaser and
the consummation of the transactions that are contemplated by this Agreement have been duly
authorized by all necessary limited liability company action on the part of Purchaser. Except as
obtained as of the date hereof, no limited liability company act or proceeding on the part of
Purchaser or its manager is necessary to authorize, execute and deliver
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">this Agreement and consummate the transactions contemplated by this Agreement. This Agreement has
been duly executed and delivered by Purchaser and, assuming this Agreement constitutes the valid
and binding obligation of the MGM Entities, constitutes the valid and binding obligation of
Purchaser, enforceable against it, in accordance with its terms, except as such enforceability may
be limited by (i)&nbsp;bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or
other similar Laws now or hereafter in effect relating to creditors&#146; rights generally and (ii)
general principles of equity (regardless of whether enforcement is considered in a proceeding at
Law or in equity).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The execution and delivery of this Agreement by Purchaser does not, and the consummation
by Purchaser of the transactions to which it is a party that are contemplated by this Agreement
will not, (i)&nbsp;conflict with, or result in any violation or breach of, any provision of the
organizational documents of Purchaser (ii)&nbsp;conflict with, result in a breach of, constitute a
default (or an event which with the giving of notice or lapse of time, or both, would become a
default) under, require any notice, consent, approval or waiver under, or give to others any rights
of termination, amendment, acceleration, suspension, revocation or cancellation of, or (except
pursuant to the collateral documents contemplated by <U>Section&nbsp;2.1</U>) result in the creation or
continuance of any Encumbrance or Permitted Exception on any of the assets or properties of
Purchaser pursuant to, any Contract, permit or obligation to which Purchaser is a party or by which
it or any of its assets or properties is bound, or (iii)&nbsp;conflict with or violate any Law or
Governmental Order applicable to Purchaser or any of its respective assets or properties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Except for: (i)&nbsp;the filing of notification reports under the HSR Act, (ii)&nbsp;any
Governmental Approvals related to, or arising out of, compliance with Gaming Laws and Gaming
Licenses, (iii)&nbsp;any Governmental Approvals related to, or arising out of, compliance with Liquor
Licenses, (iv)&nbsp;any Governmental Approvals as may be required under applicable state securities
Laws, , and (v)&nbsp;the satisfaction or waiver of the closing conditions in <U>Section&nbsp;7.1</U> and
<U>Section&nbsp;7.2</U> and the closing deliveries in <U>Section&nbsp;3.2</U>, no material Governmental
Approval, or consent, approval, authorization or action by, notice to, filing with, or waiver from,
any other Person is required in connection with the execution, delivery and performance of this
Agreement by Purchaser and consummation by Purchaser of the transactions contemplated by this
Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.4 <U>Brokers</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No broker, financial advisor or finder is entitled to any brokerage fees, commissions or
finder&#146;s fees in connection with the transactions contemplated by this Agreement based upon
arrangements made by or on behalf of Purchaser and its Affiliates.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.5 <U>Licensing</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither Purchaser nor any of its officers, managers, stockholders or Affiliates who may
reasonably be considered in the process of determining the suitability of Purchaser to hold a
Gaming License has ever been denied, or had revoked, a gaming license by a Gaming Authority or
Governmental Entity. To the knowledge of Purchaser, there are no facts, which if known to the
regulators under the Gaming Laws, would (a)&nbsp;be reasonably likely to result in the denial,
revocation, limitation or suspension of a gaming license, or (b)&nbsp;result in a negative outcome to
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">any finding of suitability proceedings currently pending, or under the suitability proceedings
necessary for the consummation of this Agreement. Purchaser has no reason to expect that all
Gaming Licenses necessary for it to own and operate the Company immediately after Closing will not
be timely obtained.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.6 <U>Litigation</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There is no action, suit or proceeding, claim, arbitration or investigation, including
indemnification matters, against Purchaser any of its properties or assets, pending, or as to which
Purchaser has received notice of assertion, or to the knowledge of Purchaser, threatened against,
Purchaser or any of its properties or assets, before any Governmental Entity or arbitration body,
the adverse determination of which would have a material adverse effect on Purchaser&#146;s ability to
consummate the acquisition of the Equity Interests, and there is no Governmental Order or
arbitration award outstanding against Purchaser or any properties or assets which would have a
material adverse effect on Purchaser&#146;s ability to consummate the acquisition of the Equity
Interests, or the ability of the MGM Entities to consummate the transactions contemplated by this
Agreement. To the knowledge of Purchaser, Purchaser is not a party or subject to (including any
property or asset of Purchaser) or in default of a Governmental Order or arbitration award.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.7 <U>Availability of Funds</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser has access to sufficient liquid funds available to enable it to pay the Closing Date
Cash Purchase Price.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.8 <U>No Breach</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The execution, delivery and performance by Purchaser of this Agreement and the consummation by
Purchaser of the transactions contemplated hereby, do not and will not (a)&nbsp;breach, contravene or
conflict with Purchaser&#146;s articles of organization or operating agreement, or (b)&nbsp;violate any
order, injunction, judgment, decree or award, or federal, state, local or foreign law, ordinance,
statute, rule or regulation to which Purchaser or any Affiliate of Purchaser is subject or by which
Purchaser, its Affiliates or properties may be bound except where such violations, conflicts,
breaches or defaults would not, individually or in the aggregate, have a material adverse effect on
Purchaser&#146;s ability to consummate the transactions contemplated by this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.9 <U>Knowledge</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whenever in the course of the representations and warranties of Purchaser set forth in this
<U>ARTICLE V</U>, reference is made in connection with any matter to the knowledge of Purchaser,
Seller understands and intends that such reference shall be deemed to include only those matters
within the knowledge after due inquiry of any of Phillip Ruffin, Gail Knott, or William Shea, as
would be imputed to such Person after a reasonable internal inquiry.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.10 <U>Investment Intent</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser understands that the Equity Interests may not be sold, transferred or otherwise
disposed of, without registration under the Securities Act or a valid exemption from registration
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">under the Securities Act and that in the absence of an effective registration statement
covering the Equity Interests or a valid exemption from registration under the Securities Act, the
Equity Interests must be held indefinitely. Purchaser is acquiring the Equity Interests for its
own account solely for the purpose of investment and not with a view to, or for offer or sale in
connection with, any distribution thereof.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VI</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>COVENANTS</B>

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.1 <U>Conduct of Business of the Company</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;During the period from the date of this Agreement and continuing until the earlier of the
termination of this Agreement or the Closing, subject to the limitations set forth below, the MGM
Entities agree, except to the extent Purchaser shall consent in writing or as expressly
contemplated by this Agreement, to cause the Company to (i)&nbsp;carry on its business and operations
diligently (including without limitation the modification or amendment of, or execution of new,
Tenant Leases, provided that the Seller shall cause the Company to reasonably cooperate with
Purchaser regarding negotiation of such matters and shall obtain Purchaser&#146;s prior written consent
to such modifications, amendments or new Tenant Leases, which consent shall not be unreasonably
withheld), only in the Ordinary Course of Business, (ii)&nbsp;pay its debts when due (or within any
applicable grace periods) and to pay its Taxes when due subject to the right of the Company to
timely contest the payment of any such debt and/or Tax in good faith, (iii)&nbsp;pay or perform its
other obligations when due (or within any applicable grace periods), (iv)&nbsp;maintain the Leased Real
Property and Tangible Personal Property owned, leased or otherwise used by it substantially in its
present repair, order and condition (subject to normal wear and tear) consistent with the current
needs of its business, replace in accordance with prior practice its inoperable, worn out or
obsolete assets with assets of quality consistent with past practice to the extent the failure to
so repair or replace would reasonably be expected to have a Material Adverse Effect and, in the
event of a casualty, loss or damage to any property prior to the Closing Date, either repair such
damaged property to its original condition, replace such damaged property with property equivalent
to the original property or otherwise make the Company whole for such damaged property, and (v)&nbsp;use
Commercially Reasonable Efforts consistent with past practices and policies to preserve intact its
present business organization, keep available the services of its present officers and key
employees and preserve its relationships with its customers, suppliers, distributors, and others
having business dealings with it.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Without limiting the generality of the foregoing and except (i)&nbsp;as expressly contemplated
by this Agreement, (ii)&nbsp;as set forth in <U>Schedule&nbsp;6.1</U> or (iii)&nbsp;to the extent Purchaser shall
consent in writing (which consent shall not unreasonably be withheld), during the period from the
date of this Agreement and continuing until the earlier of the termination of this Agreement or the
Closing, neither the Company, nor any Affiliate acting for or on behalf of the Company, shall:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) except for the Conversion, amend (whether by merger, consolidation or
otherwise) or restate the Company&#146;s organizational documents or convert the
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Company into a different form of entity, or pay, or declare, or set aside for
payment of dividends or other distributions payable in cash, stock, or property with
respect to any shares of any class or series of the Company&#146;s capital stock;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) issue, pledge or sell, or authorize the issuance, pledge or sale of
additional equity securities of the Company, or securities convertible into equity
securities of the Company, or any rights, warrants or options to acquire any
convertible securities or equity securities of the Company, or any other securities
in respect of, in lieu of, or in substitution for, equity securities, except for any
pledges which would be released as of the Closing (it being understood that neither
the Company nor Purchaser would have any Liability for such pledge following the
Closing);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) split, combine, subdivide, reclassify or redeem, purchase or otherwise
acquire, or propose to redeem, purchase or otherwise acquire, any equity securities
of the Company;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) incur or commit to any capital expenditure in excess of the aggregate
amount for the applicable period set forth in the capital expenditure budget
therefor;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) authorize, recommend, propose or announce an intention to adopt a plan of complete
or partial liquidation or dissolution of the Company;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) incur, assume, prepay or guaranty any Indebtedness which would survive the
Closing except in the Ordinary Course of Business;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) sell, pledge, lease, dispose of, grant, encumber or otherwise authorize
the sale, pledge, disposition, grant or Encumbrance of any of the Company&#146;s
properties or assets, except in the Ordinary Course of Business;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) acquire, including by merger, consolidation, lease or acquisition of
stock or assets, any corporation, partnership, other business organization or any
division thereof (or a substantial portion of the assets thereof) or any other
assets, except in the Ordinary Course of Business;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) make any loans, advances or capital contribution to, or investments in,
any Person (including advances to directors, officer, managers or employees, except
in the Ordinary Course of Business);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) change in any material respect any of the Company&#146;s current policies or
practices relating to the extension of credit to customers or the collection from
customers of receivables from gaming operations;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) take, or agree to commit to take, any action that would make any
representation or warranty of the Company contained herein inaccurate in any
material respect at, or as of any time prior to, the Closing so as to cause the
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">conditions to Purchaser consummating the transactions contemplated herein not
to be satisfied;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) close, shut down, or otherwise eliminate the Company&#146;s hotel-casino,
except for such closures, shutdowns or eliminations that are (A)&nbsp;required by
Governmental Order or otherwise required by Law or (B)&nbsp;due to acts of God, acts of
terrorism or other force majeure events;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) (A)&nbsp;increase the compensation or benefits payable or to become payable
or the benefits provided to any Company director, officer, manager or employee,
except for increases to wages or benefits required under any collective bargaining
agreement disclosed in Sellers&#146; Disclosure Schedule, normal merit and cost-of-living
increases consistent with past practice, or grant any severance or termination
payment to, or pay, loan or advance any amount to, any Company director, officer,
manager or employee, or (B)&nbsp;enter into or amend any collective bargaining agreement
(except for extensions of any existing collective bargaining agreement disclosed in
Sellers Disclosure Schedule or modifications of any such collective bargaining
agreement in a manner that does not increase benefits or wages) employment,
severance, consulting, termination or similar agreement with, or employee benefit
plan, in each case that would survive beyond the Closing Date, with any Company,
director, officer, manager or employee;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) establish, adopt, enter into or amend any collective bargaining, bonus,
profit sharing, thrift, compensation, stock option, restricted stock, pension,
retirement, savings, welfare, deferred compensation, employment, termination,
severance or other employee benefit plan, agreement, trust, fund, policy or
arrangement for the benefit or welfare of any Company director, officer, manager or
employee, in each case, for which the Company would retain any Liability from and
after the Closing;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) conduct any material re-valuation of any asset, including any write-down
of inventory or write-off of accounts receivable, other than in the Ordinary Course
of Business or as otherwise required by GAAP;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) make any material change with respect to financial accounting methods,
policies or procedures, unless required by GAAP;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) modify or amend in any material respect or terminate or extend any
Material Contracts or waive, release or assign any material rights or claims
thereunder;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii) transfer, cancel, dispose of, license or abandon any rights in, to or
for the use of any Owned Intellectual Property or Assigned Intellectual Property;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xix) enter into any Contract outside of the Ordinary Course of Business that
could exceed $100,000 in payments in any fiscal year or enter into any Contract with
a term greater than one year that is not terminable prior to the Closing Date
without Liability to the Company;
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) engage in any transaction with, or enter into any Contract with, any
Affiliate that involves the transfer of consideration that (A)&nbsp;has terms less
favorable than the Company could receive from a non-Affiliate, or (B)&nbsp;has or would
have a material adverse financial impact on it;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxi) terminate, cancel or amend, or cause the termination, cancellation or
amendment of, any insurance coverage (and any surety bonds, letters of credit, cash
collateral or other deposits related thereto required to be maintained with respect
to such coverage) maintained by the Company that is not replaced by a comparable
insurance coverage, other than in the Ordinary Course of Business;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxii) make or rescind any material express or deemed election relating to
Taxes, settle or compromise any material Tax Claim or, except as may be required by
applicable law, make any material change to any material Tax accounting policy or
procedure, in each case of or relating to activities of the Company and not
including any Tax elections or Tax Claims relating to income Taxes; provided that,
Purchaser shall not unreasonably withhold its consent to any such matter that would
preclude any of the MGM Parties from timely filing Tax Returns or timely paying
Taxes;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxiii) modify or amend any Tenant Lease, or enter into or execute any new
Tenant Lease, without the prior written consent of Purchaser, which shall not be
unreasonably withheld, provided that the Seller shall cause the Company to
reasonably cooperate with Purchaser regarding any negotiations respecting the Tenant
Leases; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxiv) enter into a Contract to do any of the foregoing, or to authorize or
announce an intention to do any of the foregoing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.2 <U>Cooperation; Notice; Cure</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Between the date of this Agreement and the Closing, each Party shall promptly notify the other
Party in writing of, and shall use its Commercially Reasonable Efforts to cure before the Closing
Date, as soon as practicable after it becomes known to such Party, (a)&nbsp;any fact or condition that
causes or constitutes a breach of any of the representations and warranties of such Party made as
of the date hereof or (b)&nbsp;the occurrence after the date hereof of any fact or condition that is or
would be reasonably likely to (except as expressly contemplated by this Agreement) cause or
constitute a breach of any such representation or warranty had that representation or warranty been
made as of the time of the occurrence of, or such Party&#146;s discovery of, such fact or condition.
Should any such fact or condition require any change to the Seller Disclosure Schedules delivered
herewith, Seller shall promptly deliver to the Purchaser a supplement to such Seller Disclosure
Schedules specifying such change. Other than such additions and changes to reflect facts or
conditions occurring after the date hereof in the Ordinary Course of Business of the Company
(including without limitation the Company enforcing its rights as a plaintiff in litigation), such
delivery shall not affect any rights of the Purchaser under <U>Article&nbsp;VII</U> or <U>Section
10.1</U>, and if the Closing occurs, then the Schedules as supplemented by such additions and
changes pursuant to this <U>Section&nbsp;6.2</U> shall be deemed to
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">modify the applicable provisions of this Agreement for purposes of determining whether an
indemnification obligation exists under <U>Article&nbsp;VIII</U>, and to constitute a waiver of the
right to indemnification under <U>Article&nbsp;VIII</U> for the matters disclosed in any such
supplement. During the same period, each Party also shall promptly notify the other Party of the
occurrence of any breach of any covenant of such Party in this <U>Article&nbsp;VI</U> or of the
occurrence of any event that may make the satisfaction of the conditions in <U>Article&nbsp;VII</U>
impossible or unlikely.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.3 <U>Access to Information</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Seller shall cause the Company to permit Purchaser&#146;s senior officers to meet with its
respective personnel who are responsible for its financial statements, its internal controls, and
its disclosure controls and procedures to discuss such matters as Purchaser may deem reasonably
necessary or appropriate for Purchaser to satisfy its obligations (if any) under the SOXA
post-Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Seller shall cause the Company to deliver to Purchaser promptly after they become
available and in any case within twenty (20)&nbsp;days after the end of each calendar month, an
unaudited statement of income of the Company for the one month period then ended and a balance
sheet as of the end of such calendar month. Such statement of income and balance sheet shall be in
the form currently prepared for management&#146;s use.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Upon reasonable notice, subject to applicable Law, including antitrust Laws and Gaming
Laws, the MGM Entities shall afford to those directors, officers and representatives of Purchaser
set forth on <U>Schedule&nbsp;6.3(c)</U> of the Purchaser Disclosure Schedule reasonable access, during
normal business hours to the Company&#146;s personnel and to the properties relating to the Company
provided, that such access does not in any material way interfere with the efficient operation of
the Company&#146;s business or the ability of the Company&#146;s employees to perform their duties.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.4 <U>Confidentiality of Information</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as necessary or appropriate to comply with its respective obligations under this
Agreement and to consummate the transactions contemplated by this Agreement, each of the Parties
shall comply with, and shall cause their respective directors, officers, employees, agents and
representatives to comply with, the provisions of the Confidentiality Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.5 <U>Intercompany Account Settlement</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All intercompany accounts or amounts payable (or accrued) by Parent or any of its Affiliates
(other than the Company), on the one hand, to the Company, on the other hand, shall, immediately
prior to the Closing, be netted against any intercompany accounts or amounts payable (or accrued),
including any instrument evidencing Indebtedness to the Parent or its Affiliates (other than the
Company), by the Company, on the one hand, to Parent or any of its Affiliates (other than the
Company), on the other hand, and the balance, if any, shall be contributed by Seller to the capital
of the Company or distributed by the Company to Seller (collectively, the &#147;<U>Intercompany Account
Settlement</U>&#148;). After giving effect to the consummation of the Intercompany Account Settlement,
the Company shall not owe or be liable for the satisfaction of any intercompany accounts or amounts
payable (or accrued) to Parent or any of its
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Affiliates, and neither Parent nor any of its Affiliates shall owe or be liable for the
satisfaction of any intercompany accounts or amounts payable (or accrued) to the Company.
Purchaser agrees to cooperate with Seller following the Closing, including executing such documents
and taking such actions, so as to give full effect to the foregoing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.6 <U>Governmental Approvals</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Parties shall cooperate with each other and use their Commercially Reasonable Efforts
to (and, with respect to the Gaming Laws, and antitrust Laws, if applicable, shall use their
Commercially Reasonable Efforts to cause their respective directors and officers to) promptly
prepare and file all necessary documentation, to effect all applications, notices, petitions and
filings, to obtain as promptly as practicable all Governmental Approvals, and to comply (and, with
respect to the Gaming Laws, to cause their respective directors and officers to comply) with the
terms and conditions of all such Governmental Approvals. The Parties and their respective
Affiliates, directors and officers shall (x)&nbsp;file within thirty (30)&nbsp;days after the date of this
Agreement all required initial applications and documents in connection with the HSR Act and
obtaining the Governmental Approvals under Nevada Gaming Laws, (y)&nbsp;as soon as reasonably
practicable after the date hereof file all required initial applications and documents in
connection with all Governmental Approvals other than those required under subpart (x), and (z)
shall act diligently and promptly thereafter in responding to additional requests and comments in
connection therewith and to pursue all such Governmental Approvals as promptly as possible. The
Parties acknowledge that this Agreement and the transactions contemplated hereby are subject to the
review and approval of the applicable Gaming Authorities. Each of Seller and Purchaser shall have
the right to consult with the other on, in each case subject to applicable Laws relating to the
exchange of information (including antitrust Laws and Gaming Laws), all the information relating to
the other Person and any of its Affiliates that appears in any filing made with, or written
materials submitted to, any third Person or Governmental Entity in connection with the transactions
contemplated by this Agreement. Without limiting the foregoing, each of Seller and Purchaser (the
&#147;<U>Notifying Party</U>&#148;) shall notify the other promptly of the receipt of comments or requests
from Governmental Entities relating to Governmental Approvals, and shall supply the other with
copies of all correspondence between the Notifying Party or any of its representatives and
Governmental Entities with respect to Governmental Approvals; <U>provided</U>, <U>however</U>,
that none of the MGM Entities, on the one hand, and Purchaser, on the other hand, shall be required
to supply the other with copies of communications relating to the personal applications of
individual applicants (except for evidence of filing) or with any documents which are the subject
of a confidentiality agreement barring the same.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Each of Seller and Purchaser shall promptly notify the other Party upon receiving any
communication from any Governmental Entity whose consent or approval is required for consummation
of the transactions contemplated by this Agreement that causes such Person to reasonably believe
that there is a reasonable likelihood that such consent or approval from such Governmental Entity
will not be obtained or that the receipt of any such consent or approval will be materially
delayed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Each of Seller on the one hand, and Purchaser on the other hand, shall use its respective
Commercially Reasonable Efforts to take, or cause to be taken, all actions reasonably necessary to
(i)&nbsp;defend any lawsuits or other legal proceedings challenging this Agreement or the
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">consummation of the transactions contemplated by this Agreement and (ii)&nbsp;prevent the entry by any
Governmental Entity of any Governmental Order challenging this Agreement or the consummation of the
transactions contemplated by this Agreement, appealing as promptly as possible any such
Governmental Order and having any such Governmental Order vacated or reversed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Notwithstanding the foregoing or any other provision of this Agreement, neither Party, nor
any of their respective Affiliates, shall have any obligation or affirmative duty to sell, divest,
hold separate or otherwise dispose of any of its assets or properties, or agree to do any of the
foregoing in the future, in connection with seeking any Governmental Approval.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.7 <U>Performance</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Parties shall perform all acts to be performed by it pursuant to this Agreement
and shall refrain from taking or omitting to take any action that would violate or cause to remain
unfilled its covenants, obligations or agreements or breach its representations and warranties
hereunder or render them inaccurate in any material respect as of the date of this Agreement or the
Closing Date or that in any way would prevent or materially adversely affect the consummation of
the transactions contemplated by this Agreement. Each of the Parties shall use its Commercially
Reasonable Efforts (or a higher standard if a higher standard is expressly contemplated hereby) to
satisfy or cause to be satisfied all of the conditions set forth in <U>Section&nbsp;7.1</U>, and all
the conditions to the obligations of the other Parties/Party set forth in <U>Section&nbsp;7.2</U> and
<U>Section&nbsp;7.3</U>, respectively.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.8 <U>Publicity</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller and Purchaser shall agree on the form and content of any initial press releases
regarding the transactions contemplated by this Agreement and thereafter shall consult with each
other before issuing, provide each other the opportunity to review and comment upon and use all
Commercially Reasonable Efforts to agree upon, any press release or other public statement with
respect to any of the transactions contemplated hereby and shall not issue directly or indirectly
any such press release or make directly or indirectly any such public statement prior to such
consultation and prior to considering in good faith any such comments, except (a)&nbsp;as may be
required by applicable Law or (b)&nbsp;in connection with: (i)&nbsp;Parent complying with its obligations
under the rules of the New York Stock Exchange or the SEC, (ii)&nbsp;Purchaser pursuing any financing in
connection herewith, or (iii)&nbsp;the Parties complying with their respective obligations under this
Agreement. Nothing in this <U>Section&nbsp;6.8</U> shall be deemed to limit, impede or prohibit
Purchaser from exercising its rights under or receiving the benefits of <U>Section&nbsp;6.11</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.9 <U>Intellectual Property &#151; General</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Seller shall not, directly or indirectly, perform or fail to perform any act whereby any
Owned Intellectual Property material to the business of the Company or any Assigned Intellectual
Property material to the business of the Company may lapse, become abandoned, or become
unenforceable.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;During the period between the date of the Agreement and the Closing (i)&nbsp;the Company shall
not cease the Use of the Trademarks included in the Owned Intellectual Property or fail to maintain
the level of the quality of products sold and services rendered under any such Trademark at a level
at least substantially consistent with the quality of such products and services as of the date of
this Agreement, and (ii)&nbsp;Company and its Affiliates shall take or cause to be taken all steps
necessary or appropriate to insure that licensees of such Trademarks use such consistent standards
of quality during the period between the date of this Agreement and the Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Purchaser and, from and after the Closing, the Company, agree not to claim any right,
title or interest in, or interfere with Parent or its Affiliates&#146; ownership or use of, any Used
Intellectual Property, other than Assigned Intellectual Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Upon Closing, Seller, on behalf of itself and its Affiliates, agrees not to claim any
right, title or interest in, or interfere with the Company&#146;s ownership or use of, any Owned
Intellectual Property or Assigned Intellectual Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;With respect to any Software owned by Parent or Seller or any of their Subsidiaries (other
than the Company) that is Used Intellectual Property and not excluded from the transactions
contemplated hereby pursuant to <U>Section&nbsp;2.2</U>, Parent or Seller may elect to grant an
irrevocable, perpetual, non-transferable license on a non-exclusive basis in and to such Software
(in the form that it exists as of the Closing Date with no obligation to provide upgrades, updates,
or other alternations) to Purchaser or the Company (rather than to make an assignment).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.10 <U>Intellectual Property &#151; Post-Closing</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;From and after the Closing, Parent and its Affiliates shall not register or authorize
others to Use or register Owned Intellectual Property, Assigned Intellectual Property, and any
other Intellectual Property that constitutes an Infringement of Owned Intellectual Property or
Assigned Intellectual Property and shall not challenge Purchaser&#146;s or any of its Affiliates&#146; right
to Use or register such Owned Intellectual Property or Assigned Intellectual Property. Within
thirty (30)&nbsp;days after the Closing, Parent and its Affiliates shall cease Use in commerce of Owned
Intellectual Property and Assigned Intellectual Property. Notwithstanding the foregoing, (i)&nbsp;the
Parties agree that for a period of up to one hundred eighty (180)&nbsp;days from the Closing Date,
Parent and its Affiliates shall be entitled to continue to use the Company&#146;s Trademarks to the
extent that any such Company Trademarks exist or are contained as of the Closing Date on any
promotional or advertising materials used in the business of Parent or its Affiliates or required
to be used for any government or administrative filings; <U>provided</U>, <U>however</U>, that
Parent and its Affiliates shall use their respective Commercially Reasonable Efforts to cease the
Use of the Company&#146;s Trademarks on the soonest possible date and (ii)&nbsp;this <U>Section&nbsp;6.10</U>
shall neither diminish nor broaden Parent&#146;s and its Affiliates&#146; fair use rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Following the Closing, Purchaser shall be responsible for all updates, maintenance fees
and related upgrades on all assigned license agreements for third party Software.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Within thirty (30)&nbsp;days after the Closing, the Company shall cease Use of Parent&#146;s and its
Affiliates&#146; Trademarks (excluding the Company&#146;s Trademarks) or any other Trademarks substantially
or confusingly similar thereto. Notwithstanding the foregoing, (i)&nbsp;the Parties agree that for a
period of up to one hundred eighty (180)&nbsp;days from the Closing Date, the Company shall be entitled
to continue to use the Parent&#146;s and its Affiliates&#146; Trademarks to the extent that any such
Trademarks exist or are contained as of the Closing Date on any promotional or advertising
materials used in the business of the Company; <U>provided</U>, <U>however</U>, that the Company
shall use its Commercially Reasonable Efforts to cease the use of the Parent&#146;s and its Affiliates&#146;
Trademarks at the soonest possible date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;At the Closing, Seller shall provide Purchaser with the Customer List in its native
format. Seller shall cause the Exclusive Customers to be deleted from the Players Club database
within fourteen (14)&nbsp;days following the Closing, it being understood that Seller is under no
obligation to cause the Shared Customers to be deleted from the Players Club database.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.11 <U>Employees</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Upon execution of this Agreement, Purchaser shall be permitted to hold joint meetings with
all employees of the Company at such times as are mutually acceptable to the Company and the
Purchaser, and shall be permitted to provide preliminary information relating to the transactions
contemplated by this Agreement, and thereafter Purchaser shall be entitled to conduct one-on-one
meetings with all employees of the Company at such times as Purchaser shall reasonably request.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Effective as of the date immediately preceding the Closing Date, the participation of the
Company in all Plans sponsored by the Parent and its ERISA Affiliates other than the Multiemployer
Plan and the Hotel Employees and Restaurant Employees International Union Welfare Fund shall
terminate. With the exception of the Company continuing as a contributing employer to the
Multiemployer Plan and the Hotel Employees and Restaurant Employees International Union Welfare
Fund, and the employment agreements listed in Section&nbsp;4.14(a) of the Seller Disclosure Schedule,
Purchaser shall not assume any Plans, nor become a plan sponsor or fiduciary of any such Plan as a
result of the transaction contemplated by this Agreement. Notwithstanding any provision of this
Agreement to the contrary, within thirty (30)&nbsp;days prior to the Closing Date, the Company may
terminate the MGM MIRAGE Deferred Compensation Plan II (&#147;<U>DCP II</U>&#148;) and MGM MIRAGE
Supplemental Executive Retirement Plan II (&#147;<U>SERP II</U>&#148;), with respect to all of the Company&#146;s
participating Employees and, pursuant to such termination, pay all vested account balances in DCP
II and SERP II attributable to the Company&#146;s participating Employees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Notwithstanding any provision of this Agreement to the contrary, nothing in this Agreement
shall give any employee of the Company the right to continuing employment or alter the at-will
employment status of any such employee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;On and after the Closing Date, (i)&nbsp;Purchaser shall cause all employees of the Company who
are employed by the Purchaser or any of its Affiliates (together, the &#147;<U>Purchaser Group</U>&#148;) on
or after the Closing Date (the &#147;<U>Company Employees</U>&#148;) to receive credit for all service with
the Company and its Affiliates prior to the Closing Date for purposes of eligibility
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">and vesting (but not benefit accrual) under any and all employee benefit plans, programs, policies
and arrangements sponsored by the Purchaser and the Purchaser Group (such plans, collectively the
&#147;<U>New Plans</U>&#148;) to the extent coverage under any such New Plan replaces coverage under a
comparable Plan in which such Company Employee participates immediately before or at any time after
the Closing Date (such plans, collectively, the &#147;<U>Old Plans</U>&#148;); and (ii)&nbsp;for purposes of each
New Plan providing medical, dental, pharmaceutical, vision and/or disability benefits to Company
Employees and their covered dependents, Purchaser shall cause all pre-existing condition exclusions
and actively-at-work requirements of such New Plan to be waived for the Company Employees and their
covered dependents, and Purchaser shall cause any eligible expenses incurred by such Company
Employees and their covered dependents during the portion of any plan year of the Old Plan which
includes a date of participation by such Company Employees or their covered dependents in the
corresponding New Plan begins, to be taken into account under such New Plan for purposes of
satisfying applicable deductible, coinsurance and maximum out-of-pocket requirements applicable to
such Company Employee and their covered dependents for such plan year as if such amounts had been
paid in accordance with such New Plan during the corresponding plan year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.12 <U>Transitional Services</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recognizing the existing operational interdependencies between the Company, on the one hand,
and Seller and its Affiliates, on the other hand, the Parties agree that Purchaser, the Company and
Seller shall enter into, and shall use their respective best efforts to enter into, prior to or at
the Closing Date, a written agreement (the &#147;<U>Transitional Services Agreement</U>&#148;) evidencing
the arrangements set forth in <U>Schedule&nbsp;6.12</U>. In the event that the parties do not enter
into the Transitional Services Agreement by the Closing Date, the Closing will nonetheless occur
and <U>Schedule&nbsp;6.12</U> shall serve as the agreement between the Parties with respect to the
matters set forth therein, together with such other terms as are commercially reasonable and
customary for similar transactions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.13 <U>Termination of Affiliate Contracts</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller shall, and shall cause its Affiliates (other than the Company), on the one hand, and
the Company, on the other hand, to terminate the Affiliate Contracts with effect as of the Closing
(the &#147;<U>Termination of Affiliate Contracts</U>&#148;). The Termination of Affiliate Contracts shall
be without Liability or Loss to the Company, including as to Liabilities or Losses remaining under
any Affiliate Contracts. For the avoidance of doubt, any Liability or Loss incurred by Purchaser
in connection with any Affiliate Contract shall not be subject to the provisions of <U>Section
8.2(c)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.14 <U>Termination Fee</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;In the event that either: (X)&nbsp;the MGM Entities are entitled to terminate this Agreement
pursuant to <U>Section&nbsp;10.1(d)</U> hereof, or (Y) (i)&nbsp;the Closing has not occurred by the Outside
Closing Date, and (ii)&nbsp;each of the Closing conditions set forth in <U>Section&nbsp;7.1</U> have been
satisfied or waived by Purchaser or would have been satisfied but for Purchaser&#146;s failure to use
its Commercially Reasonable Efforts (or a higher standard if a higher is expressly contemplated
hereby) to perform its respective obligations under this Agreement, and (iii)&nbsp;each of the Closing
conditions set forth in <U>Section&nbsp;7.3</U> have been satisfied or waived by Purchaser or would
have
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">been satisfied but for Purchaser failing to use its Commercially Reasonable Efforts (or a higher
standard if a higher is expressly contemplated hereby) to perform its respective obligations under
this Agreement in accordance with the terms and conditions hereof, and (iv)&nbsp;the MGM Entities are
not otherwise in breach or default hereunder, then in either such event (X)&nbsp;or (Y)&nbsp;the MGM Entities
shall have the right, as its sole and exclusive remedy, to give written notice to Purchaser of
their intention to terminate this Agreement if Purchaser fails to close (or be prepared to close)
the transactions contemplated by this Agreement on or prior to the fifth Business Day following
receipt of such written notice and as promptly as practicable following termination (which shall
occur automatically on such fifth Business Day unless agreed to otherwise by the Parties in
writing) Purchaser shall pay, or cause to be paid, in same day funds to Seller, the sum of Twenty
Five Million Dollars ($25,000,000) (the &#147;<U>Seller Termination Fee</U>&#148;). Only one Termination
Fee shall be payable to Seller regardless of the circumstances. In the event Seller receives
payment of the Termination Fee, Seller, and Seller on behalf of its Affiliates, agrees to forego
and not to pursue (or aid any other Person in pursuing) or assign any allegation, claim, right or
remedy, whether legal or equitable, including specific performance, against, directly or
indirectly, Purchaser or any of their respective Affiliates, for Purchaser&#146;s failure to consummate
the transactions contemplated by this Agreement. The obligation of Purchaser to pay the
Termination Fee pursuant to this <U>Section&nbsp;6.14(a) </U>shall be guaranteed by Purchaser Parent
pursuant to the Purchaser Guaranty. Subject to the occurrence of the matters set forth in
subsections (X)&nbsp;or (Y)(i), (ii)&nbsp;and (iii)&nbsp;of the first sentence of this Section&nbsp;6.14(a), the
Parties acknowledge and agree that the MGM Entities would sustain substantial damages in the event
the sale of the Equity Interests to Purchaser as contemplated by this Agreement is not consummated
as a result of Purchaser&#146;s failure to close, and Seller&#146;s actual damages in the event the sale of
the Equity Interests to Purchaser as contemplated by this Agreement is not consummated as a result
of Purchaser&#146;s failure to close would be difficult or impractical to determine, and the Termination
Fee represents a reasonable estimate of the harm likely to be suffered by Seller in the event the
sale of the Equity Interests to Purchaser as contemplated by this Agreement is not consummated as a
result of Purchaser&#146;s failure to close.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;In the event that either: (X)(i) the Closing has not occurred by the Outside Closing Date;
and (ii)&nbsp;each of the closing conditions set forth in <U>Section&nbsp;7.1</U> have been satisfied or
waived by Seller or would have been satisfied but for the MGM Entities&#146; failure to use their
Commercially Reasonable Efforts (or a higher standard if a higher is expressly contemplated hereby)
to perform their respective obligations under this Agreement; and (iii)&nbsp;the Closing conditions set
forth in <U>Section&nbsp;7.2</U> have been satisfied or waived by Seller or would have been satisfied
but for Seller failing to use its Commercially Reasonable Efforts (or a higher standard if a higher
is expressly contemplated hereby) to perform its obligations under this Agreement; and Purchaser is
not otherwise in default hereunder, or (Y)&nbsp;prior to the Outside Closing Date Seller executes an
agreement with any other Person (other than Purchaser) for the sale or transfer of the Equity
Interests or for substantially all of the Company&#146;s assets, or (Z)&nbsp;Purchaser is entitled to
terminate this Agreement pursuant to <U>Section&nbsp;10.1(c)</U> hereof, then in any such event (X)&nbsp;or
(Y)&nbsp;or (Z)&nbsp;the Purchaser shall have, as its sole and exclusive remedy, the right to give written
notice to Seller of its intention to terminate this Agreement (and whether or not Purchaser
provides such notice with respect to clause (Y), Seller may terminate this Agreement) and Seller
shall pay, or cause to be paid, in same day funds to Purchaser, the sum of Twenty Five Million
Dollars ($25,000,000) (the &#147;<U>Purchaser Termination Fee</U>&#148;). Only one Purchaser Termination
Fee shall be payable to Purchaser regardless of the circumstances. In the event Purchaser receives
payment
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">of the Purchaser Termination Fee, Purchaser agrees, on its own behalf and on behalf of its
Affiliates, to forego and not to pursue (or aid any other Person in pursuing) or assign any
allegation, claim, right or remedy, whether legal or equitable, including specific performance,
against, directly or indirectly Seller, any MGM entity or any of their respective Affiliates, for
Seller&#146;s failure to consummate the transactions contemplated by this Agreement. Subject to the
occurrence of the matters set forth in subsections (X)(i), (ii), (iii)&nbsp;or (Y)&nbsp;or (Z)&nbsp;of the first
sentence of this <U>Section&nbsp;6.14(b)</U>, the Parties acknowledge and agree that Purchaser would
sustain substantial damages in the event the sale of the Equity Interests to Purchaser as
contemplated by this Agreement is not consummated as a result of Seller&#146;s failure to close, and
Purchaser&#146;s actual damages in the event the sale of the Equity Interests to Purchaser as
contemplated by this Agreement is not consummated as a result of Seller&#146;s failure to close would be
difficult or impractical to determine, and the Purchaser Termination Fee represents a reasonable
estimate of the harm likely to be suffered by Purchaser in the event the sale of the Equity
Interests to Purchaser as contemplated by this Agreement is not consummated as a result of Seller&#146;s
failure to close.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.15 <U>Capital Expenditures</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall (a)&nbsp;undertake and complete any and all capital expenditures required to meet
an emergency (it being understood and agreed that Seller shall promptly notify Purchaser of any
such emergency and the emergency expenditures and other actions taken in response thereto), and (b)
undertake and continue in the Ordinary Course of Business and consistent with past practice any and
all capital expenditures necessary or appropriate to maintain its respective assets and properties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.16 <U>Release of Guaranties</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller shall, and shall cause its Affiliates, to enter into one or more Contracts to release
(as of the Closing Date) the Company from all guaranty, credit enhancement, credit support, keep
well obligations or similar arrangements to or for the benefit of, or on behalf of, Parent and/or
its Affiliates (other than the Company) (collectively, the &#147;<U>Release of Guaranties</U>&#148;).
Seller acknowledges and agrees that all Liability or Loss associated with the Release of Guaranties
shall be borne exclusively by Seller, and the Seller Indemnifying Parties shall, jointly and
severally, defend and indemnify the Purchaser Indemnified Parties in respect of, and hold each of
them harmless from and against, any and all Losses suffered, incurred or sustained by any of them
or to which any of them becomes subject, resulting from, arising out or, or relating to the Release
of Guaranties. For the avoidance of doubt, any Liability or Loss incurred by Purchaser in
connection with any Release of Guaranties shall not be subject to the provisions of Section&nbsp;8.2(c).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.17 <U>Further Assurances and Actions</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions herein, each of the Parties agrees to use its Commercially
Reasonable Efforts to take, or cause to be taken, all appropriate action, and to do, or cause to be
done, all things reasonably necessary, proper or advisable under applicable Laws and regulations to
consummate and make effective the transactions contemplated by this Agreement, including, without
limitation, using their respective Commercially Reasonable
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Efforts to obtain all licenses, permits, consents, approvals, authorizations, qualifications and
orders of Governmental Authorities as are necessary for consummation of the transactions
contemplated by this Agreement, and to fulfill all conditions precedent applicable to such Party
pursuant to this Agreement. In case at any time after the date of this Agreement and from time to
time any further action is necessary to carry out the purposes of this Agreement and to vest
Purchaser with valid and legal title, to the Equity Interests and all properties and assets of the
Company, each free and clear of all Encumbrances and, other than with respect to the Real Property,
Permitted Exceptions, including to execute, deliver and file all such further documents including
the termination of financing statements, the directors, officers and employees of the Parties or
their Affiliates shall take or cause to be taken all such necessary or appropriate action in
accordance with and subject to the terms of this Agreement and Seller shall bear the cost of any
such necessary or appropriate action; <U>provided</U> <U>that</U> if such action is necessary or
appropriate due to events or circumstances particular to Purchaser, Purchaser shall bear the cost
of such action.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.18 <U>FCC Approvals</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller and Purchaser will, as applicable, not later than thirty (30)&nbsp;days after the execution
of this Agreement by the Parties, execute and file FCC applications to seek any required consent of
the FCC for any licenses possessed by the Company in connection with the operation of the business
of the Company. The Parties agree to use their respective Commercially Reasonable Efforts to
cooperate with any requests for information, filing of forms, communications with the FCC or other
actions that are reasonably necessary in order to obtain FCC approval. If any required FCC
approvals are not obtained on or before the Closing Date and no special temporary authority has
been granted by the FCC that allows Purchaser to operate under the FCC licensees or the FCC
application has not been granted, then the Closing shall nevertheless occur as scheduled and with
no reduction in the Final Purchase Price, and the Parties will comply with any applicable
requirements of the FCC or applicable Law. Purchaser agrees that it will not use or operate any
equipment which is the subject of any FCC licenses, approvals or applications after the Closing in
violation of any requirements of the FCC or any applicable Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.19 <U>No Control</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser understands and agrees that, except as expressly permitted by the terms of this
Agreement, prior to Closing Purchaser shall not, and shall not attempt to, directly or indirectly
control, supervise, direct or interfere with, any of the Company, and until the Closing, the
operations of the Company are the sole responsibility of and under the complete control of Seller.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.20 <U>Liability for Non-Compliance with WARN Act</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller assumes, and shall indemnify Purchaser from and against, any and all claims or
Liabilities arising out of Seller&#146;s or the Company&#146;s conduct from the date hereof until the Closing
Date resulting in a failure to comply with the WARN Act.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.21 <U>HSR Filing Fee.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All filing fees pursuant to the pre-merger notifications under the HSR Act shall be borne
equally by the Purchaser and the Seller.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.22 <U>Records Retention.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Seller shall (i)&nbsp;retain the books and records (including personnel files) of Seller which
relate to the Company and its operations prior to the Closing in accordance with the Parent&#146;s
retention policy for its Affiliates, and (ii)&nbsp;upon reasonable notice, afford the officers,
employees and authorized agents and representatives of Purchaser and the Company reasonable access
(including the right to make, at Purchaser&#146;s expense, photocopies) during normal business hours, to
such books and records.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Purchaser shall (i)&nbsp;retain the books and records (including personnel files) of the
Company and its operations prior to the Closing in accordance with the Purchaser&#146;s retention
policy, and (ii)&nbsp;upon reasonable notice, afford the officers, employees and authorized agents and
representatives of Seller reasonable access (including the right to make, at Seller&#146;s expense,
photocopies) during normal business hours, to such books and records.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.23 <U>Existing Parcel; Subdivision; Conveyance of Treasure
Island Property; Reciprocal Easements.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Existing Parcel.</U> The Parties agree that they desire for the Company to own fee
simple absolute title, at the Closing, to the Treasure Island Property, which shall consist of all
of the Real Estate that is subject to the Ground Lease, together with certain additional real
property. The Parties acknowledge that the Treasure Island Property (i)&nbsp;is not currently owned by
the Company, (ii)&nbsp;is currently owned by Seller, (iii)&nbsp;is not currently a separate legal parcel, and
(iv)&nbsp;is currently a portion of a larger legal parcel (collectively, including all land, and all
interests in buildings, structures, improvements and fixtures located thereon and all easements and
other rights and interests appurtenant thereto, the &#147;<U>Existing Parcel</U>&#148;) that includes (w)
the Treasure Island Property, (x)&nbsp;certain real property underlying The Mirage Resort (which is not
a part of the transactions contemplated hereby), (y)&nbsp;certain real property underlying a parking
garage that is currently used by both the Company and Seller for the valet parking of cars (the
&#147;<U>Joint Valet Garage</U>&#148;), and (z)&nbsp;certain additional real property, some of which is jointly
used by the Company and Seller in certain respects. The Parties further acknowledge that the
certain existing employee parking garage (&#147;<U>Joint Employee Garage</U>&#148;) located southeast of the
intersection of Industrial Road and Spring Mountain Boulevard is jointly used by the Company and
Seller for the parking of employee cars and is currently located on a separate legal parcel with
assessor&#146;s parcel number 162-17-603-003 (collectively, including all land, and all interests in
buildings, structures, improvements and fixtures located thereon and all easements and other rights
and interests appurtenant thereto, the &#147;<U>Joint Employee Garage Parcel</U>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Subdivision.</U> Seller agrees, commencing immediately upon execution of this
Agreement, at Seller&#146;s sole cost and expense, to cause, and to use best efforts to cause, the
Existing Parcel to be subdivided through a commercial subdivision process to be completed, as soon
as reasonably practicable, in accordance with Chapter&nbsp;278 of NRS (collectively, the
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;<U>Subdivision</U>&#148;), under which the Existing Parcel will be divided so that there will be two
separate parcels that encompass the Treasure Island hotel and casino and related improvements,
which parcels will collectively total no less than eighteen (18)&nbsp;acres (such parcels, collectively,
including all land, and all interests in buildings, structures, improvements and fixtures located
thereon and all easements and other rights and interests appurtenant thereto, the &#147;<U>Treasure
Island Property</U>&#148;), and there are two or more parcels that encompass the remainder of the
Existing Parcel (collectively, the &#147;<U>Mirage Property</U>&#148;) a portion of which will be subdivided
so that the Joint Valet Garage will be located on its own separate legal parcel (such parcel,
including all land, and all interests in buildings, structures, improvements and fixtures located
thereon and all easements and other rights and interests appurtenant thereto, the &#147;<U>Joint Valet
Parcel</U>&#148;). The Parties hereby agree on the size and contours of the two separate legal parcels
that will make up the Treasure Island Property, and on the size and contours of the separate legal
parcel that will constitute the Joint Valet Parcel, in each case as more particularly set forth on
<U>Schedule&nbsp;6.23(b)</U>. Seller shall not modify or revise the size or contours of any of the
separate legal parcels depicted on <U>Schedule&nbsp;6.23(a)</U>, in connection with the Subdivision or
otherwise, without Purchaser&#146;s prior written consent which shall not be unreasonably withheld.
Seller shall provide Purchaser with regular updates regarding the status of Seller&#146;s efforts to
complete the Subdivision, and shall not agree to the imposition of any material conditions imposed
in connection with the Subdivision without Purchaser&#146;s prior written consent, which shall not be
unreasonably withheld. Purchaser shall be entitled to direct Seller&#146;s activities with respect to
the Subdivision, and if Purchaser so elects, Seller shall provide to Purchaser a power of attorney
granting to Purchaser the right to execute documents on Seller&#146;s behalf, in furtherance of the
Subdivision, as determined by Purchaser to be appropriate. In connection with the Subdivision,
Seller shall comply with all applicable Laws and with all requirements imposed pursuant to the
Permitted Exceptions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Conveyance of Treasure Island Property.</U> Promptly following the completion of the
Subdivision, Seller shall convey all of Seller&#146;s right, title and interest in the Treasure Island
Property to the Company pursuant to a grant, bargain and sale deed (the &#147;<U>Deed</U>&#148;), the form
of which shall be approved by Purchaser in its reasonable discretion. In connection with such
conveyance, Seller shall deliver a bill of sale for transfer of the Improvements to the Company, in
a form reasonably approved by Purchaser, the REA (if the REA has been mutually agreed upon) or, if
the REA has not been mutually agreed upon, a memorandum of the REA Term Sheet shall be executed and
recorded, and Seller shall cooperate with Purchaser, who shall arrange (at Purchaser&#146;s option) for
the issuance of an ALTA owner&#146;s policy (Form&nbsp;2006) of title insurance, subject only to Permitted
Exceptions (the &#147;<U>Owner&#146;s Title Policy</U>&#148;), effective as of the date on which the Deed, and
the REA or the memorandum of the REA Term Sheet, are recorded in the official records of Clark
County, Nevada (&#147;<U>Official Records</U>&#148;), which date shall be subsequent to the Subdivision but
otherwise as determined by Purchaser, insuring the Company&#146;s ownership interest in the Treasure
Island Property and Company&#146;s rights under the REA or the memorandum of the REA Term Sheet, as
applicable, in an amount to be reasonably determined by Purchaser. The<U> </U>form of the Owner&#146;s
Title Policy shall be determined by Purchaser in its sole discretion, and the Owner&#146;s Title Policy
shall include such endorsements as Purchaser determines in its sole discretion to be appropriate.
The costs of the Owner&#146;s Title Policy shall be allocated between Seller and Purchaser in the
following manner: Seller shall pay an amount equal to the CLTA portion of the premium for the
Owner&#146;s Title Policy, and Purchaser shall pay for the remainder of the costs of the premium and for
the costs of any endorsements that
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Purchaser elects to include as part of the Owner&#146;s Title Policy, including costs of a
non-imputation endorsement (the &#147;<U>Non-Imputation Endorsement</U>&#148;), in a form to be reasonably
approved by Purchaser, to be issued effective as of the Closing, at Purchaser&#146;s option. Seller
shall reasonably cooperate with Purchaser and the title company respecting the Non-Imputation
Endorsement and all other aspects of the issuance of the Owner&#146;s Title Policy, including without
limitation by executing affidavits or declarations that are customary as of the date of this
Agreement and reasonably required by the title company in connection with the issuance of the
Owner&#146;s Title Policy (including the Non-Imputation Endorsement). It is the understanding of the
Parties that such conveyance shall not trigger any Transfer Taxes in connection therewith.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<U>Reciprocal Easements</U>. The Parties acknowledge and agree that the Treasure Island
Property and the adjoining real property owned by Seller currently have certain shared uses (the
&#147;<U>Shared Uses</U>&#148;), including without limitation certain shared uses related to the Joint Valet
Garage and the Joint Employee Garage. The Parties further acknowledge and agree that it will be
mutually beneficial for the existing Shared Uses to continue following the Subdivision, conveyance
of the Treasure Island Property to the Company, and the Closing. To provide legal rights
respecting the Shared Uses following the Closing, the Parties desire to enter into a reciprocal
easement agreement (&#147;<U>REA</U>&#148;) to provide for the granting of certain reciprocal easements and
to address certain related matters. The Parties hereby agree that they will each exercise their
best efforts to negotiate and finalize, as soon as reasonably practicable, a mutually-agreeable REA
that will set forth terms and conditions under which the Shared Uses will be memorialized under
that REA between the Company and the Seller that shall run with the land and be binding on
successor owners of the Treasure Island Property, the Joint Valet Parcel, the Joint Employee Real
Property and the Mirage Property. The final REA will be negotiated between Seller and Purchaser
and approved by each in its reasonable discretion, executed by Seller and the Company, and shall be
consistent with the binding REA term sheet attached hereto and incorporated herein as <U>Exhibit
C</U> (the &#147;<U>REA Term Sheet</U>&#148;). The final REA shall be recorded in the Official Records
prior to or at Closing and concurrently with recordation of the Deed (or concurrently with the
commencement of the Replacement Ground Lease if applicable), provided that in the event the final
REA has not been mutually agreed upon on the Closing Date, the Parties agree that each Party shall
be authorized at such time to record a memorandum of agreement, attaching thereto the REA Term
Sheet, in the Official Records, and the Parties shall thereafter continue to exercise Commercially
Reasonable Efforts to reach agreement on the final REA, which shall be recorded once such agreement
is reached. The provisions of this <U>Section&nbsp;6.23</U> shall survive the Closing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.24 <U>Consents and Estoppel Certificates</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the MGM Parties shall use its Commercially Reasonable Efforts to, at its expense,
obtain prior to the Closing all consents, other than Governmental Approvals that are governed by
<U>Section&nbsp;6.6</U>, necessary to the consummation of the transactions contemplated by this
Agreement, including such other non-governmental consents as Purchaser or its counsel shall
reasonably determined to be necessary, including any required consents to the assignment of the
Material Contracts. All such consents shall be in writing, and executed counterparts thereof shall
be delivered to Purchaser and its counsel promptly after receipt thereof by any of the MGM Parties,
but in no event later than immediately prior to the Closing. Without limitation of the foregoing,
each of the MGM Parties shall use Commercially Reasonable Efforts to obtain from
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">each tenant under each of the Tenant Leases, prior to Closing, an estoppel certificate with
respect to each Tenant Lease in form and substance reasonably approved by Purchaser.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.25 <U>Myst&#232;re</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;So long as Seller or any of its Affiliates has an exclusivity agreement with respect to Cirque
du Soleil, Seller agrees that it shall, and shall cause its Affiliates to, use all best efforts to
permit the Cirque du Soleil show Myst&#232;re (including any extensions of such show) to be performed at
the Company&#146;s premises on an exclusive basis, including granting any waiver under any such
exclusivity agreement required in connection therewith.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.26 <U>No Acquisition Solicitation</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;From and after the date of this Agreement, neither Parent nor any of its Affiliates shall,
directly or indirectly, through any director, officer, manager, employee, stockholder, member,
financial advisor, representative or agent of such Person (i)&nbsp;solicit or initiate (including by way
of furnishing information or advice) or take any other action to solicit or initiate any inquiries,
discussions, proposals or negotiations that constitute, or are intended to lead to, a proposal or
offer for a merger, consolidation, business combination, sale of assets or properties, sale of
shares of capital stock or any other equity interests (including by way of a tender or exchange
offer) or similar transaction to dispose of the Company, other than the transactions contemplated
by this Agreement (an &#147;<U>Acquisition Proposal</U>&#148;), or (ii)&nbsp;continue any prior discussions or
negotiations with any Person (or group of Persons) other than the Purchaser and its advisors
concerning any Acquisition Proposal. In the event that Parent or any of its Affiliates receives or
has knowledge of an Acquisition Proposal, the Person receiving or who has knowledge of such
Acquisition Proposal shall promptly notify Purchaser (x)&nbsp;that an Acquisition Proposal has occurred,
(y)&nbsp;whether negotiations are occurring with respect thereto, and (z)&nbsp;the ultimate result of any
negotiation relating to such Acquisition Proposal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Notwithstanding the foregoing, the term &#147;Acquisition Proposal&#148; shall expressly exclude any
transaction or proposed transaction that includes both the Company and other assets of the Parent
or its Affiliates (other than the Company) with a value equal to or greater than the value of the
Company (collectively, an &#147;<U>Exempt Acquisition Proposal&#148;</U>); provided that any transaction or
proposed transaction that principally involves only the Treasure Island Hotel and Casino and the
Mirage Resort and Casino shall not be deemed an &#147;Exempt Acquisition Proposal&#148;. Purchaser
acknowledges that Parent and its Affiliates may directly or indirectly (i)&nbsp;solicit or initiate a
merger, consolidation, business combination, sale of assets or other disposition of the Company,
so long as the disposition is for an Exempt Acquisition Proposal and (ii)&nbsp;continue any prior
discussions or negotiations with any Person (or group of Persons) for an Exempt Acquisition
Proposal; provided that, in the case of a bona fide Exempt Acquisition Proposal principally
involving the Treasure Island Hotel and Casino and the Mirage Resort and Casino, the Person
receiving or who has knowledge of such Exempt Acquisition Proposal shall promptly notify Purchaser
(x)&nbsp;that an Exempt Acquisition Proposal has occurred, (y)&nbsp;whether negotiations are occurring with
respect thereto, and (z)&nbsp;the ultimate result of any negotiations relating to such Exempt
Acquisition Proposal.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.27 <U>Conversion</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the Closing and subsequent to obtaining all approvals required by Gaming Authorities
for the Conversion (as hereinafter defined), Seller shall cause the Company to convert into a
Nevada limited liability company through the filing of articles of organization with a statement of
conversion for the Company with the Nevada Secretary of State (the &#147;<U>Conversion</U>&#148;). Seller
shall provide notice to Purchaser at least five (5)&nbsp;Business Days&#146; prior to effectuating the
Conversion, and all required documentation relating to the Conversion and the organizational
documents of the Company (including, without limitation, the articles of organization and operating
agreement) shall be subject to the approval of Purchaser prior to the filing or finalization
thereof, as the case may be. Following the Conversion, all references herein to the &#147;Company&#148;
shall mean the Company as a Nevada limited liability company, <I>mutatis mutandis</I>. Seller shall cause
the Company to qualify as an entity that is disregarded as an entity separate from its sole member
for federal and all relevant state income Tax purposes at all times from and after the time of the
Conversion and to and through the Closing, and neither Seller, the Company nor any Affiliate shall
make any election or take any position inconsistent with the foregoing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.28 <U>Non-Solicitation of Exclusive Customers</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From and after the date hereof until the second anniversary of the Closing Date, neither
Parent nor any of its Affiliates shall intentionally engage in any targeted solicitation of any of
the Exclusive Customers (determined as of the date hereof); provided, however, that the foregoing
shall not prohibit Parent or any of its Affiliates from engaging in any general advertising or
other indirect method of soliciting customers that does not target any Exclusive Customers or which
is otherwise not intended to circumvent the foregoing provision. On the Closing Date, Seller shall
deliver to Purchaser a list of the Exclusive Customers as of the Closing Date. For the avoidance
of doubt, prior to the Closing, any promotion, offer or solicitation that includes some or all of
the Exclusive Customers shall not constitute a violation of this Section&nbsp;6.28 if it also includes
similar classes of customers of Affiliates of Parent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.29 <U>Non-Solicitation of Employees</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth on Section&nbsp;6.29 of the Seller Disclosure Schedule, from and after the date
of this Agreement until the second anniversary of the Closing Date, neither Parent nor any of its
Affiliates shall solicit or induce, or attempt to solicit or induce, any employee of, or
independent contractor exclusive to, the Company to leave the Company for any reason whatsoever, or
in any other manner interfere with the business relationship between the Company and any employee
or independent contractor of the Company. Notwithstanding anything to the contrary, Parent and its
Affiliates may conduct general searches for employees or independent contractors by use of
advertisements or the media that are not targeted at the employees or independent contractors of
the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.30 <U>Water Rights.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller, and/or one of its Affiliates, Atlandia Design and Furnishings Inc.
(&#147;<U>Atlandia</U>&#148;), is the owner of water rights certificated by the State Engineer of Nevada, as
Certificate 14785
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(Permit 56635), Certificate 14786 (Permit 56636), Certificate 14787 (Permit 56639),
Certificate 14788 (Permit 56640) and Certificate 14789 (Permit 56642), which authorize the annual
appropriation of groundwater within the shallow aquifer underlying the Real Property, the Mirage
Property, the Shared Valet Parcel and the Shared Employee Garage Parcel. Seller&#146;s and/or
Atlandia&#146;s rights in these certificates, together with the attendant rights, powers and privileges
pertaining thereto, are hereafter referred to as the &#147;<U>Certificated Water Rights</U>.&#148; On and
subject to the terms and conditions of this Agreement, Purchaser agrees to purchase from Seller
and/or Atlandia, and Seller agrees to sell (and to cause Atlandia to sell) to Purchaser, all of
Seller&#146;s and/or Atlandia&#146;s right, title and interest in and to the Certificated Water Rights. At
the Closing, the Certificated Water Rights shall be transferred and otherwise conveyed to Purchaser
free and clear of all Encumbrances.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.31 <U>Post-Closing Subdivision, Conveyance of Treasure Island
Property, Recordation of Reciprocal Easements</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Post-Closing Subdivision</U>. If the condition set forth in <U>Section&nbsp;7.3(f)</U> is
satisfied pursuant to the Pre-Subdivision Closing Conditions, then from and after the Closing, the
MGM Entities shall cause, and shall use best efforts to cause, as soon as possible, at Seller&#146;s
sole cost and expense, the Subdivision and the creation of the Treasure Island Property as two (2)
separate legal parcels, and of the Joint Valet Parcel as a third (3<SUP style="font-size: 85%; vertical-align: text-top">rd</SUP>) separate legal
parcel pursuant to Nevada Revised Statutes Chapter&nbsp;278, all in accordance with the size and
contours set forth on <U>Schedule&nbsp;6.23(b)</U>. Seller&#146;s efforts to cause the Subdivision shall be
in accordance with the efforts of Seller required prior to Closing, as set forth in <U>Section
6.23(b)</U>. Without limitation of the foregoing, Purchaser shall be entitled to direct Seller&#146;s
activities with respect to the Subdivision, and if Purchaser so elects, Seller shall provide to
Purchaser a power of attorney granting to Purchaser the right to execute documents on Seller&#146;s
behalf, in furtherance of the Subdivision, as determined by Purchaser to be appropriate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Post-Closing Conveyance of Treasure Island Property.</U> If the condition set forth
in Section&nbsp;7.3(f) is satisfied pursuant to the Pre-Subdivision Closing Conditions, following the
completion of the Subdivision, pursuant to documentation reasonably acceptable to Purchaser, Seller
shall convey all of Seller&#146;s right, title and interest in the Treasure Island Property to a
newly-formed single-member Nevada limited liability company wholly-owned by Seller
(&#147;<U>Newco</U>&#148;) pursuant to a Deed, the form of which shall be approved by Purchaser in its
reasonable discretion. Immediately following such conveyance, pursuant to documentation reasonably
acceptable to Purchaser, Seller shall transfer to the Company or its designee one hundred percent
(100%) of the member&#146;s interests in Newco, Seller shall deliver a bill of sale for transfer of the
Improvements to Newco, in a form reasonably approved by Purchaser, the REA (if the REA has been
mutually agreed upon) or, if the REA has not been mutually agreed upon, the REA Term Sheet shall be
executed and recorded, and Seller shall arrange for the issuance of an Owner&#146;s Title Policy,
effective as of the date on which the Deed is recorded in the Official Records, insuring Newco&#146;s
ownership interest in the Treasure Island Property and the REA or the REA Term Sheet, as
applicable, in an amount to be reasonably determined by Purchaser. The<U> </U>form of the Owner&#146;s
Title Policy shall be approved by Purchaser in its reasonable discretion, and the Owner&#146;s Title
Policy shall include such endorsements as Purchaser determines in its sole discretion to be
appropriate. The costs of the Owner&#146;s Title Policy, and the parties obligations respecting the
Owner&#146;s Title Policy, shall be allocated between Seller and Purchaser in
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">accordance with the provisions of <U>Section&nbsp;6.23(c)</U>. It is the understanding of the
Parties that the conveyance of the Treasure Island Property to Newco, and the conveyance of the
ownership interest in Newco from Seller to the Company (or the Company&#146;s designee), shall not
trigger any Transfer Taxes in connection therewith.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Survival</U>. The provisions of this <U>Section&nbsp;6.31</U> shall survive the Closing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.32 <U>Certain Pre-Closing Insured Losses</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event that (i)&nbsp;the Company experiences a loss with respect to an asset that is not a
Current Asset, (ii)&nbsp;such asset loss is covered by an insurance policy of the Parent or its
Affiliates relating to the Company, (iii)&nbsp;the Company replaces such asset or otherwise fully
repairs such loss, and (iv)&nbsp;the Company has rights to insurance proceeds therefrom (&#147;<U>Insurance
Rights</U>&#148;), and such right is not recorded as a Current Asset as of the Closing Date, then the
Parties agree and acknowledge that the Company shall assign such Insurance Rights to Seller. In
addition, Purchaser agrees and acknowledges that it shall not have any rights to insurance proceeds
that are payable to the Company following the Closing Date to compensate the Company for business
interruptions prior to the Closing Date; <U>provided</U>, that, such right to payment is not
recorded as a Current Asset as of the Closing Date. Any such insurance payments shall belong to
Seller or Parent, and if for any reason any such insurance payment is delivered or paid to the
Company, the Company shall remit such payment to Seller.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VII</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>CONDITIONS TO CLOSING</B>

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.1 <U>Conditions of the Parties&#146; Obligations to Effect the
Closing</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The respective obligations of the Parties to this Agreement to effect the Closing shall be
subject to the satisfaction or waiver by each of the Parties prior to the Closing of the following
conditions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>No Injunctions</U>. No Governmental Entity shall have enacted, issued, promulgated,
enforced or entered any Governmental Order or Law that is in effect and that has the effect of
making the Closing illegal or otherwise prohibiting consummation of the transactions contemplated
by this Agreement and the Closing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>HSR Act</U>. Any applicable waiting periods, together with any extensions thereof,
under the HSR Act and the antitrust or competition Laws of any other applicable jurisdiction shall
have expired or been terminated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Governmental Approvals</U>. (i)&nbsp;The MGM Entities and Purchaser shall have obtained
all material Governmental Approvals required to consummate the Closing (including under Gaming
Laws), all of which are set forth on <U>Schedule&nbsp;7.1(c)</U> attached hereto, and (ii)&nbsp;all
Governmental Approvals required for the Company, immediately after giving effect to the Closing, to
operate the business of the Company in substantially the same manner as conducted
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">on the date hereof (except, with respect to this clause (ii), such Governmental Approvals, the
failure of which to obtain would not, individually or in the aggregate, have a Material Adverse
Effect) shall have been obtained, and, in each case of clause (i)&nbsp;and (ii), all such approvals
shall remain in full force and effect and all statutory waiting periods in respect thereof shall
have expired.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.2 <U>Additional Conditions to Obligation of the MGM Entities to
Effect the Closing</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The obligation of Seller to effect the Closing is subject to the satisfaction of each of the
following conditions prior to or concurrent with the Closing, any of which may be waived in writing
exclusively by Seller:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Representations and Warranties</U>. The representations and warranties of Purchaser
contained in this Agreement that are not qualified by materiality shall be true and correct in all
material respects, and the representations and warranties of Purchaser that are qualified by
materiality shall be true and correct in accordance with their express terms, when made and at and
as of the Closing Date, with the same force and effect as if made as of the Closing Date, other
than such representations and warranties as are made as of another date, which shall be true and
correct as of such date, if earlier than the Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Performance of Obligation of Purchaser</U>. Purchaser shall have performed in all
material respects all obligations required to be performed by Purchaser under this Agreement on or
prior to the Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Officer&#146;s Certificate</U>. Seller shall have received a certificate dated the Closing
Date duly executed by an officer of Purchaser to the effect of <U>Section&nbsp;7.2(a)</U> and
<U>Section&nbsp;7.2(b)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<U>Deliveries at Closing</U>. Purchaser shall have delivered all of the documents
required under <U>Section&nbsp;3.2</U> of this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.3 <U>Additional Conditions to Obligation of Purchaser to
Effect the Closing</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The obligation of Purchaser to effect the Closing is subject to the satisfaction of each of
the following conditions prior to or concurrent with the Closing, any of which may be waived in
writing exclusively by Purchaser:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Representations and Warranties</U>. The representations and warranties of Seller
contained in this Agreement shall have been true and correct when made and shall be true and
correct as of the Closing Date, with the same force and effect as if made as of the Closing Date,
other than such representations and warranties as are made as of another date, which shall be true
and correct as of such date, if earlier than the Closing Date; <U>provided</U> <U>that</U>, this
condition shall be deemed to not be satisfied solely for purposes of the Closing if the aggregate
adverse economic effect of breaches or violations of such representations and warranties as of the
Closing Date has a Material Adverse Effect.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Performance of Obligations of Seller and Company</U>. Each of Seller and Company
shall have performed in all material respects all obligations required to be performed by it under
this Agreement on or prior to the Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Officer&#146;s Certificate</U>. Purchaser shall have received a certificate dated the
Closing Date duly executed by an officer of Seller to the effect of <U>Section&nbsp;7.3(a)</U> and
<U>Section&nbsp;7.3(b)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<U>Release of Guaranties</U>. The Release of Guaranties shall have been, or shall be
simultaneously, completed with the Closing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;<U>Deliveries at Closing</U>. Seller shall have delivered all of the documents required
under <U>Section&nbsp;3.2</U> of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;<U>Subdivision Closing Conditions; Pre-Subdivision Closing Conditions</U>. One of the
following shall have occurred:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;at or prior to Closing, the Treasure Island Property shall be two separate legal parcels
that have been subdivided in compliance with Chapter&nbsp;278 of the NRS and that is owned in fee title
by the Company, the REA (if the REA has been mutually agreed upon) or, if the REA has not been
mutually agreed upon, the REA Term Sheet shall have been executed and recorded in the Official
Records, the Company shall have been issued the Owner&#146;s Title Policy effective as of the date of
recordation of the Deed and the REA or the REA Term Sheet, as applicable, in the Official Records,
and the Non-Imputation Endorsement shall be issued as of the Closing Date (collectively, the
&#147;<U>Subdivision Closing Conditions</U>&#148;); or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;each of the following shall be true: (1)&nbsp;it is on or after June&nbsp;15, 2009, (2)&nbsp;the
Subdivision Closing Conditions shall not have been satisfied; (3)&nbsp;Seller shall have, continuously
and diligently, from the date of this Agreement, exercised its best efforts to cause the
Subdivision Closing Conditions to be satisfied; (4)&nbsp;all of the conditions to Purchaser&#146;s and
Seller&#146;s respective obligations to effect the Closing, other than the Subdivision Closing
Conditions, shall have been satisfied; and (5)&nbsp;the Parties shall have executed the Replacement
Ground Lease, effective as of the Closing, subject to any modifications requested by a lender under
financing secured against Company&#146;s interest as tenant under the Replacement Ground Lease, which
modifications shall be approved by Seller provided that they are submitted by Purchaser in good
faith, and shall have executed and notarized the Lease Memorandum (collectively, the
&#147;<U>Pre-Subdivision Closing Conditions</U>&#148;).
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VIII</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INDEMNIFICATION; REMEDIES</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8.1 <U>Survival; Right to Indemnification Not Affected by
Knowledge</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Subject to <U>Section&nbsp;9.10</U>, all representations and warranties contained in this
Agreement shall terminate one year after the Closing Date; <U>provided</U> <U>that</U> the
representations and warranties contained in Section&nbsp;4.1 (Organization Qualification), Section&nbsp;4.2
(Ownership of Equity Interests), Section&nbsp;4.3(a) (Authority), Section&nbsp;4.13 (Environmental Matters),
4.14
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(Employee Benefit Plans), Section&nbsp;4.21 (Brokers) and Section&nbsp;4.28 (Nevada Takeover Statutes),
Section&nbsp;5.1 (Organization of Purchaser), Section&nbsp;5.2 (Ownership), Section&nbsp;5.3(a) (Authority), and
Section&nbsp;5.4 (Brokers) shall survive the Closing and terminate only upon the expiration of the
applicable statute of limitations, if any; <U>provided</U> <U>further</U>, that the
representations and warranties contained in Section&nbsp;4.2 (Ownership of Equity Interests)shall
survive the Closing indefinitely. Notwithstanding anything in this Agreement to the contrary,
nothing in this <U>Section&nbsp;8.1(a)</U> shall limit any covenant, obligation or agreement of the
Parties which by its terms contemplates performance after the Closing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The right of the Purchaser Indemnified Parties, on the one hand, and the Seller
Indemnified Parties, on the other hand, to indemnification, shall not be affected by any
investigation conducted, or any knowledge acquired (or capable of being acquired) at any time,
whether before or after the execution and delivery of this Agreement or the Closing Date, with
respect to the accuracy or inaccuracy of or compliance with, any of the representations,
warranties, covenants, obligations or agreements set forth in this Agreement. The waiver of any
condition based on the accuracy of any representation or warranty set forth in this Agreement, or
on the performance of or compliance with any covenant, obligation or agreement set forth in this
Agreement, shall not affect the right to indemnification or other remedy based on such
representations, warranties, covenants, obligations and agreements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Notwithstanding anything in this Agreement to the contrary, if the Closing occurs each of
the Seller Indemnified Parties hereby waives any right to indemnification, contribution,
reimbursement, set-off or other rights to recovery that it might otherwise have against the Company
with respect to representations, warranties, covenants, obligations and agreements made by any of
the MGM Entities contained in this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8.2 <U>Indemnification</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Provided the Closing occurs, and subject to <U>Section&nbsp;8.2(c)</U> of this Agreement, the
Seller Indemnifying Parties shall, jointly and severally, defend and indemnify the Purchaser
Indemnified Parties in respect of, and hold each of them harmless from and against, any and all
Losses suffered, incurred or sustained by any of them or to which any of them becomes subject,
resulting from, arising out of, or relating to (i)&nbsp;any breach of or inaccuracy in any
representation or warranty of any of the MGM Entities contained in this Agreement, (ii)
nonfulfillment of or failure to perform any covenant, obligation or agreement on the part of any of
the MGM Entities contained in this Agreement, or (iii)&nbsp;any Liability paid, payable or asserted
against any Purchaser Indemnified Person or to which any Purchaser Indemnified Person may become
subject resulting from, arising out of, or relating to the dispute with Prairie Island Indian
Community with respect to the use of the &#147;Treasure Island&#148; trademark.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Provided the Closing occurs, and subjec<U>t</U> to <U>Section&nbsp;8.2(d)</U> of this
Agreement, the Purchaser Indemnifying Parties shall defend and indemnify the Seller Indemnified
Parties in respect of, and hold each of them harmless from and against, any and all Losses
suffered, incurred or sustained by any of them or to which any of them becomes subject, resulting
from, arising out of, or relating to (i)&nbsp;any breach of or inaccuracy in any representation or
warranty of Purchaser contained in this Agreement or (ii)&nbsp;nonfulfillment of or failure to perform
any covenant, obligation or agreement on the part of Purchaser contained in this Agreement.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Notwithstanding anything to the contrary contained in this Agreement, no amounts of
indemnity shall be payable to the Purchaser Indemnified Parties as a result of any claim in respect
of a Loss arising under <U>Section&nbsp;8.2(a)(i)</U>:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) unless and until the aggregate amount of Losses incurred by the Purchaser
Indemnified Parties pursuant to <U>Section&nbsp;8.2(a)(i)</U> exceeds Three Million
Eight Hundred Seventy Five Thousand Dollars ($3,875,000), in which event the
Purchaser Indemnified Parties shall be entitled to claim indemnity for the full
amount of such Losses in excess of Three Million Eight Hundred Seventy Five Thousand
Dollars ($3,875,000) and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in excess of Fifty Million Dollars ($50,000,000);
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>provided</U> <U>that</U> nothing in this Section&nbsp;8.2(c) shall limit Seller&#146;s liability for
Losses with respect to, arising out of, relating to or resulting from (A)&nbsp;any fraud or intentional
misrepresentation by an MGM Entity, or (B)&nbsp;any breach of Section&nbsp;4.1 (Organizational
Qualifications), Section&nbsp;4.2 (Ownership of Equity Interests), Section&nbsp;4.3(a) (Authority), Section
4.13 (Environmental Matters), 4.14 (Employee Benefit Plans), Section&nbsp;4.21 (Brokers) or Section&nbsp;4.25
(Nevada Takeover Statutes), by an MGM Entity; <U>provided,</U> <U>further</U>, the Seller
Indemnifying Parties shall not be required to pay any indemnity amounts (and such amounts shall not
count towards (c)(i) above) (a)&nbsp;relating to indemnity matters for which a Liability was accrued in
the Final Statement, or (b)&nbsp;relating to indemnity matters to the extent that insurance proceeds are
paid to the Purchaser Indemnified Parties therefor. The Purchaser Indemnified Parties shall use
their Commercially Reasonable Efforts to pursue, furnish and deliver any documents, instruments or
writings required by their respective insurers to make an insurance claim.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Notwithstanding anything to the contrary contained in this Agreement, no amounts of
indemnity shall be payable to the Seller Indemnified Parties as a result of any claim in respect of
a Loss arising under <U>Section&nbsp;8.2(b)(i)</U>:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) unless and until the aggregate amount of Losses incurred by the Seller Indemnified
Parties pursuant to <U>Section&nbsp;8.2(b)</U> exceeds Three Million Eight Hundred Seventy Five
Thousand Dollars ($3,875,000),, in which event the Seller Indemnified Parties shall be
entitled to claim indemnity for the full amount of such Losses in excess of Three Million
Eight Hundred Seventy Five Thousand Dollars ($3,875,000); and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in excess of Twenty-Five Million Dollars ($25,000,000)in the aggregate;
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>provided</U> <U>that</U> nothing is this Section&nbsp;8.2(d) shall limit Purchaser&#146;s liability for
Losses with respect to, arising out of, relating to or resulting from (A)&nbsp;any fraud or intentional
misrepresentation by a Purchaser, or (B)&nbsp;any breach of Section&nbsp;5.1 (Organization of Purchaser),
Section&nbsp;5.2 (Ownership), Section&nbsp;5.3(a) (Authority), or Section&nbsp;5.4 (Brokers) by Purchaser;<U>
provided,</U> <U>further</U>, that the Purchaser Indemnifying Parties shall not be required to pay
any indemnity amounts (and such amounts shall not count towards (d)(i) above) relating to indemnity
matters to the extent that insurance proceeds are paid to the Seller Indemnified Parties therefor.
The Seller Indemnified Parties shall use their Commercially Reasonable Efforts to pursue,
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">furnish and deliver any documents, instruments or writings required by their respective insurers to
make an insurance claim.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;In respect to any indemnity claim pursuant to Section&nbsp;8.2(a)(i) or 8.2(b)(i), the
representations and warranties made by the MGM Entities and Purchaser in this Agreement, as
applicable, shall be read without regard to any Material Adverse Effect or materiality qualifiers
or standards contained therein
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;In no event shall any Indemnifying Party be responsible or liable to any Indemnified Party
for any Losses or other amounts under this <U>Article&nbsp;VIII</U> that constitute multiple,
exemplary, consequential, special, indirect, punitive or other damages that are not compensatory in
nature.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;In the event that an Indemnifying Party:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) consolidates with or merges into any other Person and is not the continuing or
surviving corporation or entity of such consolidation or merger; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) transfers or conveys all or substantially all of its properties and assets
(whether in one transaction or a series of related transactions) to any Person,
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">then, and in each such case, proper provision shall be made prior to the consummation of any such
transaction so that such successors and assigns shall be assigned the rights and assume the
obligations of such Indemnifying Party set forth in this <U>Article&nbsp;VIII</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;For the avoidance of doubt, the Parties acknowledge that a Purchaser Indemnified Person or
a Seller Indemnified Person may be entitled to raise a claim for indemnification pursuant to one or
more subsections or clauses of Section&nbsp;8.2(a) and 8.2(b) of this Agreement, respectively, and that
the Purchaser Indemnified Person or the Seller Indemnified Person, as applicable, shall be solely
entitled to elect the clauses or subections pursuant to which it may assert its claim for
indemnification.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8.3 <U>Indemnification Procedures</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All claims for indemnification by an Indemnified Party under <U>Section&nbsp;8.2</U> shall be
asserted and resolved as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;In the event any claim or demand in respect of which an Indemnified Party might seek
indemnity under <U>Section&nbsp;8.2</U> is asserted against or sought to be collected from such
Indemnified Party by a Person other than a Seller Indemnified Party or a Purchaser Indemnified
Party (a &#147;<U>Third Party Claim</U>&#148;), the Indemnified Party shall promptly deliver a Claim Notice
to the Indemnifying Party; <U>provided</U> <U>that</U> no delay on the part of the Indemnified
Party in giving any such Claim Notice shall relieve the Indemnifying Party of any indemnification
obligation hereunder unless (and then solely to the extent that) the Indemnifying Party is
materially prejudiced by such delay. The Indemnifying Party shall notify the Indemnified Party in
writing as soon as practicable within the Dispute Period whether or not the Indemnifying Party
desires, at the Indemnifying Party&#146;s sole cost and expense and by counsel of its own choosing,
which shall be reasonably satisfactory to the Indemnified Party, to defend against such Third Party
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Claim; <U>provided</U> <U>further</U> that if, under applicable standards of professional conduct
a conflict on any significant issue between the Indemnifying Party and the Indemnified Party exists
in respect of such Third Party Claim, then the Indemnifying Party shall reimburse the Indemnified
Party for the reasonable fees and expenses of one additional counsel selected by the Indemnified
Party and reasonably acceptable to the Indemnifying Party to be retained in order to resolve such
conflict, promptly upon presentation by the Indemnified Party of invoices or other documentation
evidencing such amounts to be reimbursed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If the Indemnifying Party notifies the Indemnified Party within the Dispute
Period that it desires to defend against such Third Party Claim, (A)&nbsp;the
Indemnifying Party shall use its Commercially Reasonable Efforts to defend and
protect the interests of the Indemnified Party with respect to such Third Party
Claim, (B)&nbsp;the Indemnified Party, prior to or during the period in which the
Indemnifying Party assumes the defense of such matter, may take such reasonable
actions as the Indemnified Party deems necessary to preserve any and all rights with
respect to such matter, without such actions being construed as a waiver of the
Indemnified Party&#146;s rights to defense and indemnification pursuant to this
Agreement, (C)&nbsp;the Indemnifying Party shall not, without the prior written consent
of the Indemnified Party, consent to any settlement that (i)&nbsp;does not contain an
unconditional release of the Indemnified Party from the subject matter of the
settlement, (ii)&nbsp;imposes any liabilities or obligations on the Indemnified Party in
excess of the aggregate accruals therefor reflected in the determination of Actual
Working Capital, and (iii)&nbsp;with respect to any non-monetary provision of such
settlement, could, in the Indemnified Party&#146;s reasonable judgment, have a Material
Adverse Effect on the business, assets, properties, condition (financial or
otherwise), results of operations or prospects of the Indemnified Party, (D)&nbsp;the
Indemnified Party shall cooperate to the extent reasonable (during regular business
hours) with the Indemnifying Party and its counsel in the investigation, defense and
settlement thereof and (E)&nbsp;the Indemnifying Party shall be deemed to have agreed
that it will indemnify the Indemnified Party pursuant to, and subject to the
conditions and limitations set forth in, the provisions of this <U>Article
VIII</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If the Indemnifying Party does not notify the Indemnified Party within the
Dispute Period that it desires to defend against such Third Party Claim, then the
Indemnifying Party shall have the right to participate in any such defense at its
sole cost and expense, but, in such case, the Indemnified Party shall control the
investigation and defense and may settle or take any other actions the Indemnified
Party deems reasonably advisable without in any way waiving or otherwise affecting
the Indemnified Party&#146;s rights to indemnification pursuant to this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Indemnified Party and the Indemnifying Party agree to make available
to each other, their counsel and other representatives, all information and
documents available to them that relate to such Third Party Claim. The Indemnified
Party and the Indemnifying Party, the Company and its employees also agree to render
to each other such assistance and cooperation as may
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">reasonably be required to ensure the proper and adequate defense of such Third
Party Claim.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Notwithstanding the foregoing, in any event, if the Indemnified Party
desires to participate in any defense of a Third Party Claim it may do so at its
sole cost and expense, and the Indemnified Party shall have the right to control,
pay or settle any Third Party Claim which the Indemnifying Party shall have
undertaken to defend so long as the Indemnified Party shall also waive any right to
indemnification therefor by the Indemnifying Party.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;In the event that an Indemnified Party should have a claim against the Indemnifying Party
hereunder which it determines to assert, but which does not involve a Third Party Claim, the
Indemnified Party shall send an Indemnity Notice with respect to such claim to the Indemnifying
Party. The Indemnifying Party shall have the Dispute Period during which to notify the Indemnified
Party in writing of any good faith objections it has to the Indemnified Party&#146;s Indemnity Notice,
setting forth in reasonable detail each of the Indemnifying Party&#146;s objections thereto. If the
Indemnifying Party does not deliver such written notice of objection within the Dispute Period, the
Indemnifying Party shall be deemed to have accepted responsibility for the prompt payment of the
Indemnified Party&#146;s claims for indemnification set forth in the Indemnity Notice, and shall have no
further right to contest the validity of such indemnification claims. If the Indemnifying Party
does deliver such written notice of objection within the Dispute Period, the Indemnifying Party and
the Indemnified Party shall attempt in good faith to resolve any such dispute within the Resolution
Period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Claims for indemnification pursuant to <U>Section&nbsp;8.2</U> shall not be made after the
expiration of the representations and warranties as provided for in <U>Section&nbsp;8.1</U>;
<U>provided</U>, <U>however</U>, that in the event a Claim Notice or an Indemnity Notice shall
have been given within the applicable survival period, the representation or warranty that is the
subject of such indemnification claim shall survive until such time as such claim is finally
resolved.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE IX</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>TAX MATTERS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9.1 <U>Tax Indemnification.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Seller shall indemnify, defend and hold harmless the Purchaser Indemnified Parties
against, and shall reimburse the Purchaser Indemnified Parties for, any and all losses arising out
of, based upon or relating or attributable to (without duplication):
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all Taxes imposed on the Company relating or attributable to any taxable
period ending on or before the Closing Date (the &#147;<U>Pre-Closing Period</U>&#148;) and,
with respect to any period that includes but does not end on the Closing Date (in
each case, a &#147;<U>Straddle Period</U>&#148;), the portion of such Straddle Period deemed
to end on and include the Closing Date (in the manner determined pursuant to
<U>Section&nbsp;9.1(b))</U>; <U>provided</U>, <U>however</U>, that Seller shall be
liable only to the extent that such Taxes are in excess of the amount, if any, taken
into account as a
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Current Liability with respect to such Taxes in the Final Statement or, without
duplication, specifically reserved or accrued for such Taxes (other than as a
Current Liability) in the Unaudited 2008 Financials;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) all Taxes imposed upon the Company under Treasury Regulation&nbsp;Section
1.1502-6 (and corresponding provisions of state, local or foreign Law) as a result
of the Company or any predecessor entity being a member of any federal, state, local
or foreign consolidated, unitary, combined or similar group for any taxable period
ending on or before, or that includes, the Closing Date;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) except as otherwise specifically set forth in this Agreement, all Taxes
relating or attributable to the transactions contemplated pursuant to this
Agreement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any breach of or inaccuracy in any representation or warranty contained in
Section&nbsp;4.7 of this Agreement; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the breach by Seller or any Affiliate or the failure by any such entity to
perform (or cause to have performed) any of the covenants made by them under this
Agreement relating to Taxes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;For purposes of this <U>Section&nbsp;9.1</U>, the portion of any Taxes that are allocable to
the portion of the Straddle Period ending on the Closing Date shall be:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in the case of Taxes that are imposed on a periodic basis, the amount of
such Taxes for the entire period multiplied by a fraction, the numerator of which is
the number of calendar days in the Straddle Period ending on (and including) the
Closing Date and the denominator of which is the number of calendar days in the
entire relevant Straddle Period; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in the case of Taxes not described in (i)&nbsp;the amount that would be payable
if the taxable year or period ended on the Closing Date based on an interim closing
of the books.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9.2 <U>Preparation and Filing of Tax Returns and Payment of
Taxes.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Purchaser shall prepare and timely file or cause the Company to prepare and timely file
all Tax Returns required by Law to be filed by the Company for all Straddle Periods (such Tax
Returns, which shall specifically exclude any income Tax Return which reports the activities of the
Company, the &#147;<U>Straddle Period Tax Returns</U>&#148;). Purchaser shall deliver drafts of all such
Straddle Period Tax Returns to Seller for its review at least twenty (20)&nbsp;days prior to the due
date of any such Tax Return (taking into account valid extensions) and shall notify Seller of
Purchaser&#146;s calculation of Seller&#146;s share of the Taxes for such Straddle Period (determined in
accordance with <U>Section&nbsp;9.1(b)</U>); <U>provided</U>, <U>however</U>, that such drafts of any
such Straddle Period Tax Returns and such calculations of Seller&#146;s share of the Tax Liability for
such Straddle Period (determined in accordance with <U>Section&nbsp;9.1(b)</U>) shall be subject to
Seller&#146;s review and approval, which approval shall not be unreasonably withheld or delayed. If
Seller shall dispute any item
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">on such Tax Return, it shall notify Purchaser (by written notice within ten (10)&nbsp;days of receipt of
Purchaser&#146;s calculation) of such disputed item (or items) and the basis for its objection. If
Seller does not object by written notice within such period, Purchaser&#146;s calculation of Seller&#146;s
share of the Taxes for such Straddle Period shall be deemed to have been accepted and agreed upon,
and final and conclusive, for all purposes hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Parent and Seller shall prepare and timely file (or cause to be prepared and timely filed)
all Tax Returns required to be filed by the Company for taxable years ending on or prior to the
Closing Date and any income Tax Return that reports pre-Closing activities of the Company during a
Straddle Period (such Tax Returns, the &#147;<U>Pre-Closing Period Tax Returns</U>&#148;). All such
Pre-Closing Period Tax Returns shall be prepared and filed in a manner that is consistent with
prior practices, except as required by applicable Law. Except in the case of any income Tax Return
that reports the activities of the Company, if any such Pre-Closing Period Tax Returns are due
after the Closing, Seller shall submit drafts of such returns to Purchaser for its review at least
twenty (20)&nbsp;days prior to the due date of any such Tax Return; <U>provided</U>, <U>however</U>,
that such drafts of any such Pre-Closing Period Tax Return shall be subject to Purchaser&#146;s review
and approval, which approval shall not be unreasonably withheld or delayed. Purchaser shall cause
the Company to furnish information to Seller, as reasonably requested in writing by Seller, to
allow Seller to satisfy its obligations under this <U>Section&nbsp;9.2(b)</U> and <U>Section
9.4(b)</U>. Seller shall file such Pre-Closing Period Tax Returns due after the Closing Date with
the appropriate taxing authorities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Parties shall act in good faith to resolve any dispute prior to the date on which the
Tax Return is required to be filed. If the Parties cannot resolve any disputed item, the item in
question shall be resolved by the Independent Accounting Firm as promptly as practicable. The fees
and expenses of the Independent Accounting Firm shall be apportioned and paid equally by Seller and
Purchaser.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9.3 <U>Accounting and Tax Records.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller shall provide Purchaser with all Tax Returns (other than income Tax Returns) that
report the activity of the Company (and other information relating to Taxes of or relating to the
Company) reasonably requested by Purchaser. Purchaser shall keep and maintain all such Tax Returns
(and other information relating to Taxes) and shall make available to Seller such Tax Returns and
information as reasonably required by Seller to allow Seller to satisfy its obligations under
<U>ARTICLE IX</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Within twenty-five (25)&nbsp;days following the Closing Date, Purchaser shall deliver to Seller an
income statement for the Company covering the period from the last regularly prepared income
statement through the Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9.4 <U>Tax Audits.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;After the Closing, Purchaser, on the one hand, and Seller, on the other hand (as
applicable, the &#147;<U>Recipient</U>&#148;), shall promptly notify the other Person in writing upon
receipt by the Recipient or any of its Affiliates of any written notice of any pending or
threatened audit or assessment, suit, proposed adjustment, deficiency, dispute, administrative or
judicial proceeding
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">or other similar claim (&#147;<U>Tax Claim</U>&#148;) received by the Recipient from any Tax authority or
any other Person with respect to Losses for which Seller is liable pursuant to <U>Section&nbsp;9.1</U>
or <U>Section&nbsp;6.21</U>; <U>provided</U>, <U>however</U>, that a failure by Purchaser to give
such notice shall not affect the Purchaser Indemnified Parties&#146; rights to indemnification under
this <U>ARTICLE IX</U> unless (and then solely to the extent) that Seller is materially prejudiced
as a consequence of such failure.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Parent and Seller shall control the conduct, through their own counsel at their sole
expense, of any Tax Claim involving any asserted Liability with respect or relating solely to any
Pre-Closing Period and any income Tax Return that reports the pre-Closing activities of the Company
during a Straddle Period. Parent or Seller, as the case may be, shall have all rights to settle,
compromise and/or concede such Tax Claim and Purchaser shall reasonably cooperate and shall cause
the Company to reasonably cooperate. Notwithstanding the foregoing, except with respect to any
income Tax Claim that involves the activities of the Company (other than any post-Closing
activities), Purchaser shall be entitled (at its own expense) to consult with Parent and Seller
regarding the conduct of such Tax Claim and Parent or Seller shall not settle, compromise and/or
concede such Tax Claim in a manner that would adversely affect Purchaser or the Company without the
consent of Purchaser, which consent shall not be unreasonably withheld or delayed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Purchaser shall control the conduct, through its own counsel, of any Tax Claim (other than
an income Tax Claim that involves the activities of the Company (other than any post-Closing
activities)) that involves any Straddle Period. Purchaser shall have all rights to settle,
compromise and/or concede such Tax Claim and Parent and Seller shall reasonably cooperate.
Notwithstanding the foregoing, except with respect to any Tax Claim that involves the post-Closing
activities of the Company, Parent and Seller shall be entitled (at their own expense) to consult
with Purchaser regarding the conduct of such Tax Claim and Purchaser shall not settle, compromise
and/or concede such Tax Claim in a manner that would adversely affect Parent or Seller without the
consent of Parent and Seller, which consent shall not be unreasonably withheld or delayed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9.5 <U>Tax Treatment.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Parties agree to treat any payment made pursuant to <U>ARTICLE VIII</U> or <U>ARTICLE
IX</U> as an adjustment to the Final Purchase Price for all Tax purposes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9.6 <U>Refunds and Tax Benefits.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Tax refunds that are received by the Company, and any amounts credited against Tax to
which Purchaser or the Company becomes entitled, that relate to Tax periods or portions thereof
ending on or before the Closing Date (but only to the extent such amounts are in excess of the
amount, if any, taken into account as a Current Asset with respect to such Taxes in the Final
Statement or, without duplication, specifically provided for such Taxes (other than as a Current
Asset) in the Unaudited 2008 Financials) shall be for the account of Seller, and Purchaser shall
pay over to Seller (a)&nbsp;any such cash refund within fifteen (15)&nbsp;days after receipt thereof and (b)
the amount of Tax savings realized by Purchaser or the Company at the time the Tax Return to which
such credit relates is filed by Purchaser or the Company. Any Tax refunds that are received by
Parent or any of its Affiliates, and any amounts credited against Tax to
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">which Parent or any of its Affiliates becomes entitled (other than refunds of income Taxes and/or
any amounts credited against income Tax resulting from adjustments in connection with the
activities of the Company which shall be for the account of Parent), that relate to Taxes of the
Company for Tax periods or portions thereof after the Closing Date shall be for the account of
Purchaser, and Parent or its Affiliates shall pay over to Purchaser (a)&nbsp;any such cash refund within
fifteen (15)&nbsp;days after receipt thereof and (b)&nbsp;the amount of Tax savings realized by Parent or any
of its Affiliates at the time the Tax Return to which such credit relates is filed by Parent or any
of its Affiliates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9.7 <U>Treatment as Asset Sale</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Parent, Seller and Purchaser acknowledge and agree that, for income Tax purposes, the sale
of the Equity Interests shall be treated as a sale of the Company&#146;s assets by Seller and a purchase
of the Company&#146;s assets by Purchaser, and none of Parent, Seller, Purchaser or any of their
Affiliates shall take a position inconsistent with such treatment. Notwithstanding anything to the
contrary in this Agreement, Parent, Seller and Purchaser acknowledge and agree that any income
Taxes imposed in connection with the sale of the Equity Interests shall be for the account of
Parent and Seller and not for the account of the Company or Purchaser.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Reasonably promptly after the Closing Date, Purchaser shall provide to Seller a proposed
allocation of the Final Purchase Price among the assets of the Company, along with any appraisals
prepared to support such allocation, which allocation shall be made in accordance with Section&nbsp;1060
of the Code and any applicable Treasury Regulations (the &#147;<U>Asset Allocation Statement</U>&#148;).
Purchaser shall also provide any supporting documentation or workpapers that Parent and Seller may
reasonably request. Within ten (10)&nbsp;days following such provision, Seller shall have the right to
object to all or any portion of the Asset Allocation Statement (by written notice to Purchaser),
and if Seller so objects, it shall notify Purchaser (in such written notice) of such disputed item
(or items) and the basis for its objection. If Seller does not object by written notice within
such period, the Asset Allocation Statement shall be deemed to have been accepted and agreed upon,
and final and conclusive, for all purposes of this Agreement. Seller and Purchaser shall act in
good faith to promptly and timely resolve any such dispute. If Seller and Purchaser cannot resolve
any disputed item, the item in question shall be resolved by the Independent Accounting Firm as
promptly as practicable. The fees and expenses of the Independent Accounting Firm shall be
apportioned and paid equally by Seller and Purchaser. Except with respect to any subsequent
adjustments to the Final Purchase Price (which adjustments shall be allocated using the same
mechanism for allocating Final Purchase Price set forth in this <U>Section&nbsp;9.7(b)</U>), Parent,
Seller and their respective Affiliates, (i)&nbsp;shall be bound by the Asset Allocation Statement
determined pursuant to this <U>Section&nbsp;9.7(b)</U>, and act consistently therewith for purposes of
determining any Taxes, (ii)&nbsp;shall prepare and file all Tax Returns to be filed with any Tax
authority in a manner consistent with the Asset Allocation Statement, and (iii)&nbsp;shall take no
position inconsistent with the Asset Allocation Statement in any Tax Return, any proceeding before
any Tax authority or otherwise. In the event that the Asset Allocation Statement is disputed by
any Tax authority, the Person receiving notice of such dispute shall promptly notify and consult
with the other Parties concerning resolution of such dispute.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Each of Parent, Seller and Purchaser shall cooperate in the preparation and timely filing
of (i)&nbsp;Form&nbsp;8594 and any comparable state or local forms or reports, and (ii)&nbsp;to the extent
permissible by or required by Law, any corrections, amendments, or supplements (or additional forms
or reports) thereto (including any supplements, amendment, forms or reports arising as a result of
any adjustments to the Final Purchase Price).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9.8 <U>Tax Sharing Contracts</U>. As of the Closing, all Tax sharing or similar
agreements involving the Company shall be terminated as of the Closing Date, and the Company shall
not have any further rights or Liabilities under any such agreement after the Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9.9 <U>Timing of Payments</U>. Except as otherwise provided in this Article&nbsp;IX, any
amounts owed by any Person to any other Person under this Article&nbsp;IX shall be paid in cash within
five (5)&nbsp;days&#146; notice from such other Person.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9.10 <U>Conflicts; Survival</U>. Notwithstanding anything to the contrary in this
Agreement, the obligations set forth in this Article&nbsp;IX shall (a)&nbsp;be unconditional and absolute,
(b)&nbsp;not be subject to any limitations in Article&nbsp;VIII and (c)&nbsp;other than the indemnification
provided for in <U>Section&nbsp;9.1</U> (and the representations and warranties contained in
<U>Section&nbsp;4.7</U>) remain in full force and effect indefinitely. The indemnification provided
for in Section&nbsp;9.1 (and the representations and warranties contained in <U>Section&nbsp;4.</U>7) shall
survive the Closing until the expiration of the applicable statute of limitations with respect to
the underlying Taxes; provided that, in the event notice for indemnification under Section&nbsp;9.1
shall have been given within the applicable survival period, the indemnification with respect to
which such notice for indemnification has been given shall survive until such time as such claim is
finally resolved. In the event of a conflict between this Article&nbsp;IX and any other provision of
this Agreement, this Article&nbsp;IX shall govern and control.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE X</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>TERMINATION</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;10.1 <U>Termination of Agreement</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may be terminated and the transactions contemplated hereby may be abandoned at
any time prior to the Closing:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;by mutual written consent of the Parties; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;by the MGM Entities, on the one hand, or Purchaser, on the other, if the transactions
contemplated hereby shall not have been consummated on or prior to the Outside Closing Date;
<U>provided</U> <U>that</U> the right to terminate this Agreement under this <U>Section
10.1(b)</U> shall not be available to any of the Parties whose willful breach or nonfulfillment or
failure to perform has prevented the consummation of the transactions contemplated by this
Agreement; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;by Purchaser, if there has been a material breach or violation by any of the MGM Entities
of any of its representations and warranties or covenants contained in this Agreement that has not
been waived by Purchaser in writing or has not been cured by the MGM Entity in all
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">material respects within thirty days of written notice thereof; provided, that if such breach
cannot reasonably be cured within such thirty day period but can be reasonably cured prior to the
Outside Closing Date and Seller is diligently proceeding to cure such breach, this Agreement may
not be terminated pursuant to this <U>Section&nbsp;10.1(c)</U>; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;by the MGM Entities, if there has been a material breach or violation by Purchaser of any
of its representations and warranties or covenants contained in this Agreement that has not been
waived by the MGM Entities in writing or has not been cured by Purchaser in all material respects
within thirty days of written notice thereof; provided, that if such breach cannot reasonably be
cured within such thirty day period but can be reasonably cured prior to the Outside Closing Date
and Purchaser is diligently proceeding to cure such breach, this Agreement may not be terminated
pursuant to this <U>Section&nbsp;10.1(d)</U>; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;by Purchaser if any of the conditions to the obligation of Purchaser set forth in
<U>Section&nbsp;7.3</U> shall have become incapable of fulfillment and shall not have been waived by
Purchaser in writing; <U>provided</U>, <U>however</U>, that Purchaser shall not be entitled to
terminate this Agreement pursuant to this <U>Section&nbsp;10.1(e)</U> if Purchaser is in breach in any
material respect of its representations and warranties or covenants contained in this Agreement; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;by the MGM Entities if any of the conditions to the obligation of the MGM Entities set
forth in <U>Section 7.2</U> shall have become incapable of fulfillment and shall not have been
waived by the MGM Entities in writing; <U>provided</U>, <U>however</U>, that the MGM Entities
shall not be entitled to terminate this Agreement pursuant to this <U>Section&nbsp;10.1(f)</U> if any
of the MGM Entities is in breach in any material respect of its representations and warranties or
covenants contained in this Agreement; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;by the MGM Entities, on the one hand, or Purchaser, on the other hand, if a Governmental
Entity shall have issued a nonappealable, final Governmental Order or taken any other nonappealable
final action, in each case having the effect of permanently restraining, enjoining or otherwise
prohibiting the Closing and the transactions contemplated by this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;10.2 <U>Effect of Termination</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event of termination of this Agreement as provided in <U>Section&nbsp;10.1</U>, this
Agreement shall immediately become void and there shall be no Liability or obligation on the part
of the Parties, or their respective directors, officers, members, employees, stockholders or
Affiliates, except that such termination shall not relieve (i)&nbsp;Purchaser of its obligations to pay
the Seller Termination Fee, if applicable or (ii)&nbsp;Seller of its obligations to pay the Purchaser
Termination Fee, if applicable; <U>provided</U> <U>further</U> <U>that</U> the provisions of
this <U>Section&nbsp;10.2</U> and <U>Section&nbsp;6.4</U>, <U>Section&nbsp;6.14</U>, <U>Section&nbsp;11.1</U>,
<U>Section&nbsp;11.4</U>, <U>Section&nbsp;11.5</U>, <U>Section&nbsp;11.10</U> and <U>Section&nbsp;11.14</U> shall
remain in full force and effect and survive any termination of this Agreement. The Parties
acknowledge and agree that, except as otherwise provided in <U>Section&nbsp;6.14</U>, the sole and
exclusive remedy upon the events described in this <U>Article&nbsp;X</U> shall be termination of this
Agreement.
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE XI</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>MISCELLANEOUS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.1 <U>Expenses</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as expressly provided in this Agreement, each of the Parties shall pay its own legal,
accounting and other miscellaneous expenses incident to this Agreement whether or not the Closing
is consummated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.2 <U>Notices.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All notices, requests, demands and other communications made under or by reason of the
provisions of this Agreement shall be in writing and shall be given by hand delivery, certified or
registered mail, return receipt requested, facsimile or next-Business Day courier to the affected
Party at the address and facsimile number set forth below. Such notices shall be deemed given: at
the time personally delivered, if delivered by hand with receipt acknowledged; at the time
received, if sent by certified or registered mail; upon issuance by the transmitting machine of a
confirmation slip that the number of pages constituting the notice has been transmitted without
error and confirmed telephonically, if sent by facsimile; and the first Business Day after timely
delivery to the courier, if sent by next-Business Day courier specifying next Business Day
delivery.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if to Seller or the Company, to:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>MGM MIRAGE<BR>
3600 Las Vegas Boulevard South<BR>
Las Vegas, Nevada 89109<BR>
Attention: James J. Murren, Chairman and Chief Executive Officer<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gary N. Jacobs, Executive Vice President, General Counsel
and Secretary</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Facsimile No.: (702)&nbsp;693-7628</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;with a copy (which shall not constitute notice) to:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Glaser, Weil, Fink, Jacobs &#038; Shapiro, LLP<BR>
10250 Constellation Boulevard, 19<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Floor<BR>
Los Angeles, California 90067<BR>
Attention: Carolyn C. Jordan, Esq.<BR>
Facsimile No.: (310)&nbsp;556-2920</TD>
</TR>

</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if to Purchaser, to:<BR></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Ruffin Acquisition, LLC<BR>
6600 Amelia Earhart Court<BR>
Las Vegas, Nevada 89119<BR>
Attention: Phillip G. Ruffin<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Facsimile No.: (702)796-3296</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;with a copy (which shall not constitute notice) to:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Munger, Tolles &#038; Olson LLP<BR>
355 South Grand Avenue, 35th Floor<BR>
Los Angeles, California 90071<BR>
Attention: Mark H. Kim, Esq.<BR><BR style="font-size:6pt">

Facsimile No.: (213)&nbsp;687-3702</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.3 <U>Interpretation</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When a reference is made in this Agreement to a Section or Sections, such reference shall be
to a Section or Sections of this Agreement unless otherwise indicated. The table of contents and
headings contained in this Agreement are for reference purposes only and shall not affect in any
way the meaning or interpretation of this Agreement. Whenever the words &#147;include,&#148; &#147;includes&#148; or
&#147;including&#148; are used in this Agreement they shall be deemed to be followed by the words &#147;without
limitation.&#148; Words used in the singular form in this Agreement shall be deemed to include the
plural, and vice versa, as the sense may require. If the date upon or by which any party hereto is
required to perform any covenant or obligation hereunder falls on a day that is not a Business Day,
then such date of performance shall be automatically extended to the next Business Day thereafter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.4 <U>Governing Law</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement, and any disputes arising out of or relating to this Agreement or the Parties&#146;
relationship, shall be governed and construed in accordance with the laws applicable to contracts
made and to be performed entirely in Nevada, without regard to any applicable conflicts of Law,
except to the extent the mandatory provisions of the Gaming Laws apply.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.5 <U>Consent to Jurisdiction and Venue</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Parties irrevocably submits to the exclusive jurisdiction of the United States
District Court for the District of Nevada or any court of the State of Nevada located in Clark
County in any action, suit or proceeding arising out of or relating to this Agreement or any of the
transactions contemplated hereby, and agrees that any such action, suit or proceeding shall be
brought only in such court; <U>provided</U>, <U>however</U>, that such consent to jurisdiction is
solely for the purpose referred to in this <U>Section&nbsp;11.5</U> and shall not be deemed to be a
general submission to the jurisdiction of said courts or in the State of Nevada other than for such
purpose. Each of the Parties hereby irrevocably waives, to the fullest extent permitted by Law,
any objection that it
</DIV>

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</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">may now or hereafter have to the laying of the venue of any such action, suit or proceeding
brought in such a court. Each of the Parties further irrevocably waives and agrees not to plead or
claim that any such action, suit or proceeding brought in such a court has been brought in an
inconvenient forum.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.6 <U>Time of the Essence</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time is of the essence in performing covenants and agreements under this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.7 <U>Assignment</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither this Agreement nor any of the rights, interests or obligations under this Agreement
shall be assigned by any of the Parties (whether by operation of Law or otherwise) without the
prior written consent of each of the other Parties. Subject to the preceding sentence, this
Agreement shall be binding upon, inure to the benefit of and be enforceable by the Parties and
their respective assigns.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.8 <U>Amendment</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may not be amended or modified by the Parties except (a)&nbsp;by an instrument in
writing signed by each of the Parties and (b)&nbsp;by a waiver in accordance with <U>Section&nbsp;11.9</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.9 <U>Extension; Waiver</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At any time prior to the Closing, the Parties, by action taken or authorized by their
respective boards of directors or similar governing body (may, to the extent legally allowed),
(a)&nbsp;extend the time for or waive the performance of any of the covenants, obligations or other acts
of the other Parties, (b)&nbsp;waive any inaccuracies in the representations and warranties contained
herein or in any document delivered pursuant hereto and (c)&nbsp;waive compliance with any of the
conditions contained in this Agreement. Any agreement on the part of any of the Parties to any
such extension or waiver shall be valid only if set forth in a written instrument signed on its
behalf. The failure of any of the Parties to assert any of its rights under this Agreement shall
not constitute a waiver of such rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.10 <U>No Third Party Beneficiaries</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except for the provisions of (a) <U>ARTICLE VIII</U> with respect to Indemnified Parties, and
(b) <U>Section&nbsp;11.14</U>, this Agreement is for the sole benefit of the Parties, Parent (as an
intended third party beneficiary of the MGM Entities) and their permitted assigns and nothing
herein expressed or implied shall give or be construed to give any Person, other than the Parties,
Parent (as an intended third party beneficiary of the MGM Entities) and such assigns, any legal or
equitable rights hereunder. All references herein to the enforceability of agreements with third
parties, the existence or non-existence of third-party rights, the absence of breaches or defaults
by third parties, or similar matters or statements, are intended only to allocate rights and risks
among the Parties and were not intended to be admissions against interests, give rise to any
inference or proof of accuracy, be admissible against any Party by any non-Party, or give rise to
any claim or benefit to any non-Party.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.11 <U>Entire Agreement</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement, the Disclosure Schedules, the Exhibits and the other writings referred to
herein or delivered pursuant hereto that form a part hereof constitute the entire agreement with
respect to the subject matter hereof and thereof and supersede all prior agreements and
undertakings, both written and oral, among the Parties with respect to the subject matter hereof
and thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.12 <U>Severability</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any term or other provision of this Agreement is invalid, illegal or incapable of being
enforced by any Law or public policy, all other terms and provisions of this Agreement shall
nevertheless remain in full force and effect so long as the economic or legal substance of the
transactions contemplated hereby is not effected in any manner materially adverse to any of the
Parties. Upon such determination that any term or other provision is invalid, illegal or incapable
of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to
effect the original intent of the Parties as closely as possible in an acceptable manner in order
that the transactions contemplated hereby are consummated as originally contemplated to the
greatest extent possible.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.13 <U>Counterparts</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may be executed in two or more counterparts, including facsimile counterparts,
each of which shall be deemed an original, but all of which shall constitute one and the same
agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.14 <U>Limitation of Liability</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Parties acknowledge that neither Kirk Kerkorian nor Tracinda Corporation, individually or
collectively, is a party to this Agreement or any of the other documents executed on the Closing
Date. The Parties further acknowledge that neither Mr.&nbsp;Kerkorian nor Tracinda Corporation shall
have any Liability whatsoever with respect to this Agreement. Accordingly, the Parties hereby
agree that in the event (a)&nbsp;there is any alleged breach or default or breach or default by any
Party under this Agreement or any such document or (b)&nbsp;any Party has or may have any claim arising
from or relating to the terms of this Agreement or any such document, no Party shall commence any
proceedings or otherwise seek to impose any Liability whatsoever against Mr.&nbsp;Kerkorian or Tracinda
Corporation by reason of such alleged breach, default or claim.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11.15 <U>Disclosure Schedules</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Disclosure Schedules shall be arranged in paragraphs corresponding to the numbered and
lettered paragraphs contained in this Agreement and the disclosure in any paragraph shall qualify
the other paragraphs in this Agreement to the extent it is reasonably apparent from the face of the
statement that it is applicable. The inclusion of any information in any section of a Disclosure
Schedule shall not be deemed to be an admission, acknowledgment or evidence (i)&nbsp;of the materiality
of such item, nor shall it establish a standard of materiality for any purpose whatsoever, (ii)
that the matter is required to be disclosed pursuant to the provisions of this
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Agreement, or (iii)&nbsp;that such information actually constitutes noncompliance with, or a
violation of, any agreement, law, regulation or statute to which such disclosure is applicable.
The Disclosure Schedules and the information, description and disclosures included therein are
intended to qualify and limit the applicable representations, warranties and covenants of the
applicable Party contained in this Agreement, and shall not be deemed to expand in any way the
scope or effect of any of such representations, warranties or covenants. Except as otherwise
specifically provided in this Agreement to the contrary, the Disclosure Schedules may only be
amended by an instrument in writing signed by the Parties.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#091;<I>The remainder of this page is intentionally left blank. Signatures are on the following page</I>.&#093;
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the undersigned have caused this Agreement to be signed by their
respective duly authorized officers or managers, as applicable, as of the date first written above.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>THE MIRAGE CASINO-HOTEL</B><BR>
a Nevada corporation<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>/s/ John M. McManus</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>

    <TD colspan="3" align="left">Name&nbsp;        John M. McManus&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>

    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left" COLSPAN="2">Assistant Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>TREASURE ISLAND CORP.,</B><BR>
a Nevada corporation<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>/s/ John M. McManus</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>

    <TD colspan="3" align="left">Name        John M. McManus&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>

    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left" COLSPAN="2">Assistant Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>RUFFIN ACQUISITION, LLC,</B><BR>
a Nevada limited liability company<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>/s/ Phillip G. Ruffin</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Name  Phillip G. Ruffin&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>

    <TD valign="top">Title:&nbsp;</TD>
    <TD align="left" COLSPAN="2" >Manager&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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