Exhibit 10.91
FIRST AMENDMENT TO
EMPLOYMENT
AGREEMENT
This FIRST AMENDMENT TO EMPLOYMENT
AGREEMENT (this “ Amendment ”) is entered into
as of the 31 day of December, 2008, by and between Worldwide Wynn,
LLC (“ Employer ”) and Linda C. Chen (“
Employee ”). Capitalized terms that are not defined
herein shall have the meanings ascribed to them in the Agreement
(as defined below).
RECITALS
WHEREAS, Employer and Employee have
entered into that certain Employment Agreement, dated as of
October 27, 2006 (the “ Agreement ”);
and
WHEREAS, Employer is willing and
Employee desires to modify certain terms and conditions to the
Agreement as more fully set forth herein;
NOW, THEREFORE, in consideration of
the foregoing and the respective representations, warranties,
covenants and agreements set forth in this Amendment, the parties
hereto agree as follows:
1. Termination of Affiliate
Positions . Concurrent with Employee’s resignation from
Employer or upon expiration or termination of the Agreement,
Employee agrees to resign, and shall be deemed to have resigned,
all other positions and Board of Director memberships that Employee
may have held immediately prior to Employee’s resignation
from Employer or expiration or termination of the
Agreement.
2 Definition of Separation
Payment . Section 1(j) of the Agreement is hereby deleted
and replaced in its entirety as follows:
“ Separation Payment
” —means a
lump sum equal to (A) Employee’s Base Salary (as defined
in Subparagraph 7(a) of this Agreement) for the remainder of the
Term, but not less than one (1) year of Base Salary, plus
(B) the bonus that was paid to Employee under
Subparagraph 7(b) for the preceding bonus period, projected
over the remainder of the Term (but not less than the preceding
bonus that was paid), plus (C) any accrued but unpaid vacation
pay, plus (D) any Gross-Up Payment required by Exhibit 1 to
this Agreement, which is incorporated herein by
reference.
3. Section 409A
Provision . Notwithsta
