Amendment to Employment Agreement between Worldspan Technologies Inc., Worldspan, L.P., and Rakesh Gangwal (May 12, 2004)
Worldspan Technologies Inc., Worldspan, L.P., and Rakesh Gangwal have agreed to amend Gangwal's Employment Agreement, effective January 1, 2004. The amendment updates the bonus structure, specifying how target bonuses are calculated based on performance tiers. All other terms of the original agreement remain unchanged.
Exhibit 10.79
May 12, 2004
Mr. Rakesh Gangwal
Chairman, President and Chief Executive Officer
Worldspan, L.P.
300 Galleria Parkway, N.W.
Atlanta, Georgia 30339
Dear Rakesh:
Reference is made herein to the Employment Agreement (the "Agreement"), dated June 30, 2003, among Worldspan Technologies Inc. (formerly known as Travel Transaction Processing Corporation) ("Holding"), Worldspan, L.P. (the "Company") and you (the "Executive"). Pursuant to the terms of this letter agreement, Holding, the Company and the Executive agree to amend the provisions of the Agreement, effective as of January 1, 2004, as set forth below.
- 1.
- Appendix A of the Agreement is hereby amended and restated in its entirety as follows:
"Target Bonus Tiers | ||||
80% or less of Bonus Targets | | 0% of Target Bonus | ||
90% of Bonus Targets | | 50% of Target Bonus | ||
100% of Bonus Targets | | 100% of Target Bonus | ||
110% of Bonus Targets | | 150% of Target Bonus | ||
115% of Bonus Targets | | 200% of Target Bonus | ||
120% or more of Bonus Targets | | 250% of Target Bonus" |
Except as otherwise provided in this letter agreement, the terms of the Agreement shall remain in full force and effect.
Sincerely, | ||||||
Worldspan Technologies Inc. | Worldspan, L.P. | |||||
By: | /s/ JEFFREY C. SMITH Jeffrey C. Smith General Counsel, Secretary and Senior Vice President Human Resources | By: | /s/ JEFFREY C. SMITH Jeffrey C. Smith General Counsel, Secretary and Senior Vice President Human Resources | |||
Acknowledged and Agreed: | ||||||
/s/ RAKESH GANGWAL Rakesh Gangwal |