Document:

exv10w3

Exhibit 10.3

AMENDMENT NO. 1

TO

EMPLOYMENT AGREEMENT

     AMENDMENT, dated March 1, 2011 (“Amendment”), made to the Employment Agreement dated as of
November 19, 2009 (the “Employment Agreement”), by and between Wyndham Worldwide Corporation, a
Delaware corporation (the “Company”), and Franz Hanning (the “Executive”). Except as provided
herein all terms and conditions set forth in the Employment Agreement shall remain in full force
and effect.

     WHEREAS, the Company and the Executive have previously entered into the Employment Agreement;
and

     WHEREAS, the Company and the Executive desire to amend the Employment Agreement as set forth
below.

     NOW, THEREFORE, effective as of the date first written above, the Employment Agreement is
hereby amended as follows:

     1. The first sentence of Section III of the Employment Agreement is hereby amended in its
entirety and replaced with the following:

The period of the Executive’s employment under this Agreement (the
“Period of Employment”) began on August 1, 2009 (the “Effective Date”)
and shall end on August 1, 2014, subject to earlier termination as
provided in this Agreement.

     2. Section IV.B. of the Employment Agreement is hereby amended in its entirety and replaced
with the following:

In addition, the Executive will be eligible to receive an annual
incentive compensation award in respect of each fiscal year of the
Company during the Period of Employment targeted to equal $700,000,
subject to the terms and conditions of the annual bonus plan covering
employees of the Company, and further subject to such performance
goals, criteria or targets reasonably determined by the Company in its
sole discretion in respect of each such fiscal year (each such annual
bonus, an “Incentive Compensation Award”). As the Incentive
Compensation Award is subject to the attainment of performance
criteria, it may be paid, to the extent earned or not earned, at
below-target levels, and above target levels. The Incentive
Compensation Award shall be paid to the Executive at such time as
shall be determined by the Compensation Committee (the “Committee”) of
the Company’s Board of Directors (the “Board”), but in no event later
than the last day of the calendar year following the calendar year
with respect to which the performance targets relate.

 

 

     3. Section VII.A.i. of the Employment Agreement is hereby amended to replace the reference to
“$660,000” with “$700,000”.

     4. Section VII.A.ii. of the Employment Agreement is hereby amended in its
entirety and replaced with the following:

(ii) subject to Section VII-D below, (x) all time-based Long Term
Incentive Awards (including all stock options and stock appreciation
rights) granted on or after the Effective Date which would have
otherwise vested within one year following the Executive’s termination
of employment, will become vested and will be paid upon the
Executive’s termination of employment; and (y) any performance-based
Long Term Incentive Awards (including restricted stock units but
excluding stock options and stock appreciation rights) granted on or
after the Effective Date, will vest and be paid on a pro rata basis
(provided that the performance goals applicable to the Long Term
Incentive Award are achieved), with such proration to be determined
based upon the portion of the full performance period during which the
Executive was employed by the Company plus 12 months (or, if less,
assuming employment for the entire performance period), with the
vesting and payment of any such vested performance-based Long Term
Incentive Awards to occur at the time that the awards vest and are
paid to employees generally. The provisions relating to Long Term
Incentive Awards set forth in this paragraph shall not supersede or
replace any provision or right of the Executive relating to the
acceleration of the vesting of such awards in the event of a change in
control of the Company or the Executive’s death or disability, whether
pursuant to an applicable stock plan document or award agreement;

     5. The second sentence of Section VII.D. of the Employment Agreement is hereby amended in
its entirety and replaced with the following:

All payments due to the Executive under Sections VII-A(i) or
VIII-C(iv) shall be made to the Executive in a lump sum no later than
the 60th day following the date of termination;
provided however, that (i) all payments and benefits
under Sections VII-A(i) — (iii) and Section VIII-C(iv) shall be
subject to, and contingent upon, the execution by the Executive (or
his beneficiary or estate) of a release of claims against the Company
and its affiliates in such reasonable form determined by the Company
in its sole discretion, but in a form consistent with the terms and
conditions of this Agreement and (ii) in the event that the period
during which the Executive is entitled to consider the general release
(and to revoke the release, if applicable) spans two calendar years,
then any payment that otherwise would have been payable during the
first calendar year will in no case be made until the later of (A) the
end of the revocation period (assuming that the Executive does not
revoke), or (B) the first business day of

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the second calendar year (regardless of whether the Executive used the
full time period allowed for consideration), all as required for
purposes of Code Section 409A.

     6. Section VIII.C.iv. of the Employment Agreement is hereby amended to replace the reference
to “$660,000” with “$700,000”.

     7. From and after the date hereof, all references to the Employment Agreement shall mean the
Employment Agreement as amended hereby. Except as expressly amended hereby, the Employment
Agreement shall remain in full force and effect, and is hereby ratified and confirmed.

     IN WITNESS WHEREOF, the undersigned has caused this Amendment to be executed this
28th day of February 2011.

	 	 	 	 	 
	 	EXECUTIVE

 	 
	 	/s/ Franz Hanning
 	 
	 	Franz Hanning 	 
	 	 	 
	 
	 	WYNDHAM WORLDWIDE CORPORATION

 	 
	 	By:  	/s/ Mary Falvey
 	 
	 	 	Name:  	Mary Falvey 	 
	 	 	Title:  	Executive Vice President 	 
	 

3exv10w4

Exhibit 10.4

AMENDMENT NO. 3

TO

EMPLOYMENT AGREEMENT

     AMENDMENT, dated March 1, 2011 (“Amendment”), made to the Employment Agreement dated as of
March 31, 2008, as first amended effective as of December 31, 2008 and further amended effective as
of December 16, 2009 (together, the “Employment Agreement”), by and between Wyndham Worldwide
Corporation, a Delaware corporation (the “Company”), and Geoff Ballotti (the “Executive”). Except
as provided herein all terms and conditions set forth in the Employment Agreement shall remain in
full force and effect.

     WHEREAS, the Company and the Executive have previously entered into the Employment Agreement;
and

     WHEREAS, the Company and the Executive desire to amend the Employment Agreement as set forth
below.

     NOW, THEREFORE, effective as of the date first written above, the Employment Agreement is
hereby amended as follows:

     1. The first sentence of Section II of the Employment Agreement is hereby amended in its
entirety and replaced with the following:

The period of the Executive’s employment under this Agreement (the
“Period of Employment”) shall begin on the Effective Date and shall
end on March 31, 2014, subject to earlier termination as provided in
this Agreement.

     2. The second sentence of Section VI(d) of the Employment Agreement is hereby amended in its
entirety and replaced with the following:

All payments due to the Executive under the first sentence of Section
VI(a) shall be made to the Executive in a lump sum no later than the
60th day following the date of termination;
provided, however, that (i) the payments and benefits
provided under Section VI(a) shall be subject to, and contingent upon,
the execution by the Executive (or his beneficiary or estate) of a
release of claims against the Company and its affiliates in such
reasonable form determined by the Company in its sole discretion and
(ii) in the event that the period during which the Executive is
entitled to consider the general release (and to revoke the release,
if applicable) spans two calendar years, then any payment that
otherwise would have been payable during the first calendar year will
in no case be made until the later of (A) the end of the revocation
period (assuming that the Executive does not revoke), or (B) the first
business day of the second calendar year (regardless of whether the
Executive used the full time period allowed for consideration), all as
required for purposes of Code Section 409A.

 

     3. The Employment Agreement is hereby amended to replace all references to “Group RCI” with
“Wyndham Exchange & Rentals.”

     4. From and after the date hereof, all references to the Employment Agreement shall mean the
Employment Agreement as amended hereby. Except as expressly amended hereby, the Employment
Agreement shall remain in full force and effect, and is hereby ratified and confirmed.

     IN WITNESS WHEREOF, the undersigned has caused this Amendment to be executed this
28th day of February 2011.

	 	 	 	 	 
	 	EXECUTIVE

 	 
	 	/s/ Geoff Ballotti
 	 
	 	Geoff Ballotti 	 
	 	 	 
	 
	 	WYNDHAM WORLDWIDE CORPORATION

 	 
	 	By:  	/s/ Mary Falvey
 	 
	 	 	Name:  	Mary Falvey 	 
	 	 	Title:  	Executive Vice President 	 
	 

2exv10w5

Exhibit 10.5

AMENDMENT NO. 2

TO

EMPLOYMENT AGREEMENT

     AMENDMENT, dated March 1, 2011 (“Amendment”), made to the Employment Agreement dated as of
November 17, 2008, as first amended by the letter agreement dated as of December 1, 2008 and
further amended effective as of December 16, 2009 (together, the “Employment Agreement”), by and
between Wyndham Worldwide Corporation, a Delaware corporation (the “Company”), and Eric Danziger
(the “Executive”). Except as provided herein all terms and conditions set forth in the Employment
Agreement shall remain in full force and effect.

     WHEREAS, the Company and the Executive have previously entered into the Employment Agreement;
and

     WHEREAS, the Company and the Executive desire to amend the Employment Agreement as set forth
below.

     NOW, THEREFORE, effective as of the date first written above, the Employment Agreement is
hereby amended as follows:

     1. The first sentence of Section II of the Employment Agreement is hereby amended in its
entirety and replaced with the following:

The period of the Executive’s employment under this Agreement (the
“Period of Employment”) shall begin on the Effective Date and shall
end on November 17, 2013, subject to earlier termination as provided
in this Agreement.

     2. The second sentence of Section VI(d) of the Employment Agreement is hereby amended in its
entirety and replaced with the following:

All payments due to the Executive under the first sentence of
Section VI(a) shall be made in a lump sum to the Executive within 60
days following the date of termination; provided,
however, that (i) the payments and benefits provided under
Section VI(a) shall be subject to, and contingent upon, the execution
by the Executive (or his beneficiary or estate) of a release of claims
against the Company and its affiliates in such reasonable form
determined by the Company in its sole discretion and (ii) in the event
that the period during which the Executive is entitled to consider the
general release (and to revoke the release, if applicable) spans two
calendar years, then any payment that otherwise would have been
payable during the first calendar year will in no case be made until
the later of (A) the end of the revocation period (assuming that the
Executive does not revoke), or (B) the first business day of the
second calendar year (regardless of whether the
Executive used the full time period allowed for consideration), all as
required for purposes of Code Section 409A.

 

     3. From and after the date hereof, all references to the Employment Agreement shall mean the
Employment Agreement as amended hereby. Except as expressly amended hereby, the Employment
Agreement shall remain in full force and effect, and is hereby ratified and confirmed.

     IN WITNESS WHEREOF, the undersigned has caused this Amendment to be executed this
28th day of February 2011.

	 	 	 	 	 
	 	EXECUTIVE

 	 
	 	/s/ Eric Danziger
 	 
	 	Eric Danziger 	 
	 	 	 
	 
	 	WYNDHAM WORLDWIDE CORPORATION

 	 
	 	By:  	/s/ Mary Falvey
 	 
	 	 	Name:  	Mary Falvey 	 
	 	 	Title:  	Executive Vice President 	 
	 

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