AMENDMENT TO LETTER AGREEMENT
EX-10.71 3 q411exhibit1071.htm EXHIBIT 10.71 EXECUTIVE AGREEMENT Q411 Exhibit 10.71
Exhibit 10.71
AMENDMENT TO LETTER AGREEMENT
August 11, 2011
Chris Orton
[personal address]
Dear Chris,
Congratulations on your promotion to President, Orbitz.com & Cheaptickets.com. In acknowledgement of this expanded role and your critical contributions to Orbitz Worldwide, I am pleased to inform you that the following changes will be made to you current compensation, effective August 1, 2011.
Current | New | |||||
Base Salary | $ | 309,000 | $ | 340,000 | ||
Bonus Target % | 60 | % | 75 | % | ||
Target Total Cash | $ | 494,400 | $ | 595,000 | ||
Promotional RSU Grant | $75,000* | |||||
Thank you for all of the hard work and commitment you have shown to Orbitz Worldwide since joining us. I wish you continued success in your new role.
With best wishes,
/s/ Barney Harford |
Barney Harford |
CEO |
Understood and accepted:
/s/ Chris Orton | 8/15/11 | |
Chris Orton | Date | |
cc: Kathy Dellplain
* Subject to the terms and conditions of the award agreement and your continued employment, 25% of the RSUs will vest on each of the first, second, third and fourth anniversary dates of the grant date, August 9, 2011.
