Sunterra Corporation
EXHIBIT (e)(9)
Sunterra Corporation
0000 X Xxxxxxxx Xxx
X Xxx Xxxxx, XX 00000
February 28, 2007
Xx. Xxxxx X Xxxxxxxxxxx
Mackinac Partners
00000 Xxxxxxxx Xxx
Xxxxxxxxxx Xxxxx, XX 00000
Dear Xxx:
As approved by the Compensation Committee of the Sunterra Corporation Board of Directors, this letter amends the prior letter agreement, dated September 8, 2006 (“September 8 Agreement”), between Sunterra Corporation and Mackinac Partners, LLC, as follows:
The first sentence of paragraph 2 of the September 8 Agreement is deleted in its entirety and replaced by the following:
“The term of MP’s engagement pursuant to this agreement (the “Term”) began on June 21, 2006 (the “Effective Date”) and will continue until this agreement is terminated by either party upon thirty (30) days’ prior written notice to the other party.”
Except as so amended, the September 8 Agreement shall remain in effect as written.
We are delighted to continue this engagement and look forward to continuing to wok together on this assignment.
Sincerely yours,
SUNTERRA CORPORATION | ||
By | /S/ XXXXXXXXX X. XXXXXX
| |
Xxxxxxxxx X Xxxxxx | ||
Vice President, General Counsel & Secretary |
Agreed to this 28th day of February, 2007
Mackinac Partners, LLC
By | /S/ XXXXX X. XXXXXXXXXXX
| |
Xxxxx X Xxxxxxxxxxx | ||
CEO / President |