X0306 4 2019-01-21 0 0000906780 EMPIRE RESORTS INC NYNY 0001701007 Eller Ryan M C/O MONTICELLO CASINO AND RACEWAY, 204 STATE ROUTE 17B, P.O. BOX 5013 MONTICELLO NY 12701 1 1 0 0 See Remarks Restricted Stock Units 2019-01-21 4 A 0 50000 0.00 A Common Stock, par value $.01 per share 50000 50000 D Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Empire Resorts, Inc. (the "Company"). The Company may also elect to settle the vested RSUs for cash at its discretion. Mr. Eller was granted 50,000 RSUs under the Empire Resorts, Inc. 2015 Equity Incentive Plan, as amended (the "Plan"), which RSUs vest annually in three equal installments, with one third vesting on January 21, 2020, one third vesting on January 21, 2021 and one third vesting on January 21, 2022; provided that the RSUs shall vest immediately: (i) upon a Change in Control, or (ii) if Mr. Eller is terminated as President and Chief Executive Officer for any reason other than for Cause. Subject to Mr. Eller's continued employment with the Company, the shares of common stock deliverable upon vesting of the RSUs shall be delivered on January 21, 2022. All capitalized but undefined terms have the meanings ascribed thereto by the Plan. President and Chief Executive Officer /s/ Ryan M. Eller 2019-01-23