/s/ Ingrid KeiserIngrid Keiser

June 20, 2007

 

Ingrid Keiser

Dallas, Texas

 

Dear Ingrid:

 

We are delighted to have you as the newest addition to our team. This letter outlines the terms of our conversation regarding your role as Chief Legal Officer.

You will begin work at the Dallas Home Office on July 9^th and will be reporting directly to me. You will be paid at the annualized rate of $200,000 (or a biweekly rate of $7692.31).

You will be provided a sign-on bonus of $15,000 (net) payable during your first week of employment.

You will have an incentive potential of 50% of your actual eligible earnings during the fiscal year. Enclosed is a Plan Document, which will provide more details.

 

You will be eligible for health, life, dental, vision, flexible spending accounts and long-term disability benefits on your six-month anniversary. To enroll, you will need to call/or complete the necessary paperwork, prior to your six-month anniversary. Your elections will be effective on the day you complete six- months of continuous service.  Dependent medical and dental coverage will also be available.  Additionally, you will be eligible to participate in our Investment Plan (401k) on your six month anniversary. For additional information, please contact the People Strategy Support Center upon hire.

 

You will be reimbursed for the difference between the COBRA payments you will be paying over the next 6 months and the amount you would pay for similar benefits at ClubCorp.  The reimbursement will be grossed up and paid in a lump sum once you have provided us with your COBRA costs and plan participation levels.

 

You will be eligible to participate in the Equity Plan at a full point. Plan details will be provided under separate cover.

 

You will earn three (3) weeks of vacation each year beginning on with the day of hire and each subsequent anniversary date. The vacation earned is subject to the policies stated in the benefits guide.

 

Enclosed is a copy of a Confidentiality Agreement, a Non-Solicitation Agreement and a Non-Competition Agreement for your signature.

 

If this is in agreement with discussions held, please sign all thee (3) copies, retaining one (1) copy for your records and returning the two (2) additional copies to me using the enclosed stamped envelope.

 

Ingrid, congratulations and welcome to ClubCorp. I look forward to our mutual success.  If you have any questions or would like any assistance, please do not hesitate to call.

 

Sincerely,

John Longstreet

Executive Vice President, People Strategy

Enclosures

Agreed to this 6^th day of July, 2007