Amendment to Crestline Capital Corporation Change in Control Separation Pay Plan

Summary

Crestline Capital Corporation has amended its Change in Control Separation Pay Plan as of December 4, 2000. The amendment updates certain plan provisions, including clarifying references to plan sections, revising the vesting of stock and deferred compensation upon employment termination, and redefining how years of service are credited for plan purposes. The changes were approved by the Board of Directors and certified by company officers. This amendment affects how benefits are calculated and vested for employees under the plan.

EX-10.15 4 dex1015.txt EXHIBIT 10.15 Exhibit 10.15 AMENDMENT TO THE CRESTLINE CAPITAL CORPORATION CHANGE IN CONTROL SEPARATION PAY PLAN THIS AMENDMENT by Crestline Capital Corporation (the "Corporation") is made as of the 4th day of December, 2000. WITNESSETH: WHEREAS: The Corporation sponsors the Crestline Capital Corporation Change in Control Separation Pay Plan (the "Plan"); WHEREAS: Pursuant to Article 7 of the Plan, the Corporation retained the right to amend the Plan; and WHEREAS: Resolutions were duly adopted by the Board of Directors of the Corporation on December 4, 2000 approving this amendment to the Plan. NOW, THEREFORE, the Plan is amended as follows: 1. Section 2.6(a) is amended by inserting the words "Section 2.6(b)" in place of the words "Section 2.5(b)". 2. The text of Section 5.2(c) of the Plan shall be deleted in its entirety and the following inserted in lieu thereof: (c) vesting as of the last day of employment in any unvested portion of any stock option, restricted stock, and deferred stock and all rights under other deferred compensation arrangements; and 3. The text of Section 2.8 of the Plan shall be deleted in its entirety and the following inserted in lieu thereof: Credited Year of Service means a year of employment with the ------------------------ Company, counting back from the date of employment termination to the same date in the preceding year and counting service with the Company Group, Host Marriott Corporation, Marriott International, Inc. and any other business acquired by the Company Group (to the extent the Company Group counts such service for other benefits purposes). Bruce Wardinski, President and CEO of the Company, shall determine whether a fractional year of Credited Years of Service shall be rounded up to the next whole year. IN WITNESS WHEREOF, the undersigned officer of the Corporation certifies that this Amendment has been authorized and directed by resolution of the Board of Directors of the Corporation as of the date first written above. CRESTLINE CAPITAL CORPORATION ________________________ By: _____________________________ Secretary James L. Francis Executive Vice President and Chief Financial Officer -2-