This Employment Agreement ("Agreement") is entered into on 1/16/98, by and between MGM GRAND, INC. a
Delaware corporation ("Employer"), and James Murren,
1. Employment. Employer hereby employs Employee, and Employee hereby accepts employment by the
Employer, as Employer's Exec., VP and CFO (which title may be changed by Employer in its sole discretion) to
perform such executive, managerial or administrative duties as Employer may specify from time to time. In
construing the provisions of this Agreement, "Employer" shall include all of Employer's subsidiary, parent and
affiliated corporations and entities.
2. Term. This Agreement shall commence on 1/16, 1998, and continue for a
period of four (4) years until it terminates on 1/16, 2002 ("Specified Term").
3. Compensation. Employee shall receive a minimum annual salary of $375,000, effective 1/16, 1998. Employee
shall also be eligible to receive fringe benefits commensurate with Employer's other employees in comparable
executive positions, and reimbursement for all reasonable business and travel expenses incurred by Employee in
performing the duties hereunder, payable in accordance with Employer's customary practices. Employee's
performance may be reviewed periodically. Employee is eligible for consideration for a discretionary raise, annual
bonus and/or promotion by Employer in its sole and absolute discretion.
4. Extent of Services. The Employee agrees that the duties and services to be performed by Employee shall be
performed exclusively for Employer. Employee further agrees to perform such duties in an efficient, trustworthy
and businesslike manner. The Employee agrees not to render to others any service of any kind whether or not for
compensation, or to engage in any other business activity whether or not for compensation, that is similar to or
conflicts with the performance of Employee's duties under this Agreement, without the approval of the Executive
Committee of the Board