Addendum to Executive Termination Benefits Agreements between Sabre Holdings Corporation and Sabre Inc.

Summary

This addendum modifies the Executive Termination Benefits Agreements for executives of Sabre Holdings Corporation and Sabre Inc. It extends the period for certain post-termination benefits to 24 months and specifies that, upon termination, the executive will receive a lump sum payment equal to two times their highest annual base salary and bonus from the past two years. The payment is due on the first day of the month after termination. The addendum is signed by company representatives and applies to executives covered by the original agreement.

EX-10.50 5 a2167758zex-10_50.htm EXHIBIT 10.50
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Exhibit 10.50

ADDENDUM TO EXECUTIVE TERMINATION BENEFITS AGREEMENTS

1.
Continuation Period pursuant to Subparagraph 1(d) of the Executive Termination Benefits Agreement shall mean "the period of time beginning on the Termination Date and ending twenty-four (24) months thereafter."

2.
The following language shall be added as Subparagraph 4(a) of the Executive Termination Benefits Agreement:

    The Company will pay to the Executive the sum of (i) two (2) times the greater of (A) the Executive's effective annual base salary at the Termination Date or (B) the Executive's effective annual base salary immediately prior to the Change in Control, plus (ii) two (2) times the greater of (X) the highest annual bonus awarded to the Executive under the Company's Variable Compensation Plan or any other bonus plan (whether paid currently or on a deferred basis) with respect to any twelve (12) consecutive month period during the last two (2) fiscal years ending prior to the Termination Date or (Y) the highest target bonus rate applicable to the Executive for any period during such prior two (2) year period, multiplied by the applicable annual base salary determined under clause (i) of this Section 4(a); the resulting amount to be paid in a lump sum on the first day of the month following the Termination Date.

    Dated:

 

 

SABRE HOLDINGS CORPORATION

 

 

By

 
       
James F. Brashear
Corporate Secretary

 

 

SABRE INC.

 

 

By

 
       
James F. Brashear
Senior Vice President, Deputy General Counsel and Corporate Secretary

 

 

Signed:

 
       



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    Exhibit 10.50
ADDENDUM TO EXECUTIVE TERMINATION BENEFITS AGREEMENTS