VISTANA, INC.
0000 XXXXXXX XXXXXX XXXXX
XXXXXXX, XXXXXXX 00000
May 28, 1998
Xx. Xxxxxxx X. Xxxxxxx, Xx.
Chairman
Vistana, Inc.
Re: Corrections to Employment Agreement Schedule
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Dear Rip:
Attached hereto is a revised Schedule B to the Employment Agreement
dated December 27, 1996 between Vistana, Inc. and you which incorporates the
adjustment to your Base Salary and Annual Bonus Amount for the 1998 fiscal year
approved by the Compensation Committee at its January meeting.
Please carefully review the enclosed Schedule B to confirm the accuracy
thereof. If the enclosed Schedule B is accurate, please execute the enclosed
copy of this letter in the space provided below and return it to the
undersigned, whereupon the enclosed Schedule B will be substituted for the
existing Schedule B. Please keep your copy of this letter and revised Schedule B
with your own copy of your Employment Agreement.
Very truly yours,
VISTANA, INC.
/s/ Xxxxxxx X. Xxxxx
By:_________________________
Name: Xxxxxxx X. Xxxxx
Title: President
Enclosure
ACKNOWLEDGED AND CONFIRMED:
/s/ Xxxxxxx X. Xxxxxxx, Xx.
______________________________
Name: Xxxxxxx X. Xxxxxxx, Xx.
SCHEDULE B
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EMPLOYEE COMPENSATION
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(Revised Effective January 1, 1998)
1. Employee Name: Xxxxxxx X. Xxxxxxx, Xx.
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2. Base Salary: $400,000
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3. Annual Bonus Amount: Up to 100% of Adjusted Base Salary; Formula to
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approximate that of other senior executive
officers.
4. Severance Amount: [Intentionally Omitted]
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5. Monthly Severance Payment: [Intentionally Omitted]
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