Document:

EX-10.1

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (“Agreement”) is made by and between STARWOOD HOTELS & RESORTS
WORLDWIDE, INC., a Maryland corporation (the “Company”), and MATTHEW A. OUIMET (“Executive”), and
is entered into on this 21st day of September 2006 and effective as of July 20, 2006.

WHEREAS, the Company wishes to employ Executive, and Executive wishes to be employed by the
Company on the terms and conditions hereinafter set forth.

NOW, THEREFORE, for and in consideration of the mutual promises, covenants and obligations
contained herein, the Company and Executive agree as follows:

ARTICLE 1:

EMPLOYMENT AND DUTIES

1.1 Employment; Effective Date. The Company agrees to employ Executive and Executive
agrees to be employed by the Company, beginning August 1, 2006 (the “Effective Date”) and
continuing for the period of time set forth in Article 2 of this Agreement, subject to the terms
and conditions of this Agreement.

1.2 Position. From and after the Effective Date, the Company shall employ Executive
in the position of President, Hotel Group of the Company, or in such other position as the parties
mutually may agree. The Executive acknowledges that his prospective employment will be subject to
all policies and practices of the Company applicable to senior executives as may currently exist or
as may be curtailed, modified or implemented from time to time. The Executive will report to the
Chief Executive Officer of the Company and be a core member of the senior leadership team of the
Company, which also currently includes President, Global Development, Executive Vice President &
Chief Marketing Officer, Executive Vice President & Chief Financial Officer and Chief
Administrative Officer & General Counsel. The Company’s regional division presidents (North
America, EAME, AP and LAD) will report directly to the Executive.

1.3 Duties and Services. Executive agrees to serve in the position referred to in
paragraph 1.2 and to perform diligently and to the best of his abilities the duties and services
appertaining to such offices as well as such additional duties and services appropriate to such
offices which the parties mutually may agree upon from time to time.

1.4 Executive Obligations. Executive shall devote his full business time, attention
and best efforts to the performance of his duties under this Agreement and shall not engage in any
other business activities except with the prior written approval of the Board; provided, however,
that Executive may engage in other activities that do not conflict with or interfere with the
performance of his duties and responsibilities hereunder, including, without limitation,
(a) investing his assets and funds, so long as the business of any such entity in which he shall
make his investments shall not be in direct competition with that of the Company (except that
Executive may invest in an entity in competition with the Company if its stock is listed for
trading on a national stock exchange or traded in the over-the-counter market and Executive’s
holdings have an original cost less than $5,000,000 and represent less than one percent of its
outstanding stock) and (b) being involved in educational, civic and charitable activities which do
not unreasonably interfere with the services to be rendered by Executive hereunder. It is
acknowledged and agreed that Executive may not serve as a director of any entity (other than as
described in (b), above) without the prior written approval of the Board or the Chief Executive
Officer.

ARTICLE 2:

TERM AND TERMINATION OF EMPLOYMENT

2.1 Term. Unless sooner terminated or extended pursuant to other provisions hereof,
the term of this Agreement shall commence on the Effective Date and shall end on March 1, 2010 (the
“Initial Term”); provided that the term of this Agreement shall be extended automatically for one
additional year upon expiration of the Initial Term and each subsequent renewal term, unless no
later than six (6) months prior to any such renewal date either the Company, or Executive gives
written notice to the other that the term of this Agreement shall not be so extended. The Initial
Term and any extension of the Initial Term pursuant to this paragraph 2.1 shall be referred to
herein as the “Term.” Any continuation of Executive’s employment beyond the expiration of the Term
shall be at-will.

2.2 Company’s Right to Terminate.

(a) Notwithstanding the provisions of paragraph 2.1 and 4.1, the Company shall have the
right to terminate Executive’s employment under this Agreement at any time for any of the
following reasons:

(i) upon Executive’s death;

(ii) upon Executive’s becoming incapacitated for a period of at least 180 days
by accident, sickness or other circumstance which renders him mentally or physically
incapable of performing the essential functions of the duties and services required
of him hereunder, with or without reasonable accommodation, on a full-time basis
during such period;

(iii) for Cause; or

(iv) without Cause.

(b) As used in this Agreement, the term “Cause” shall mean any one or more of the
following: (i) any material breach by the Executive of any of the duties, responsibilities
or obligations of his employment, or any of the written material policies of the Company;
(ii) any willful material failure or refusal by the Executive to properly perform the
duties, responsibilities or obligations of his employment, or to properly perform or follow
any lawful order or direction by the Company; (iii) any material acts or omissions by the
Executive that constitute fraud, dishonesty, breach of the Executive’s duty of loyalty,
gross negligence, civil or criminal illegality, or any other material misconduct in the
Executive’s employment or brings the Company into disrepute, creates civil or criminal
liability for the Company or adversely affects the Company’s business or interests. No act
or failure to act on the part of the Executive shall be considered “willful” unless it is
done, or omitted to be done, by the Executive in bad faith and without reasonable belief
that the Executive’s action or omission was in the best interest of the Company.
Notwithstanding the foregoing, however, no action(s) or inaction(s) will constitute Cause
unless (1) a resolution finding that Cause exists has been approved by a majority of all of
the members of the Board and (2) where remedial action is feasible, Executive fails to
remedy the action(s) or inaction(s) within 10 days after receiving a written notice (“Cause
Notice”) identifying in reasonable detail the nature of such Cause. If Executive so effects
a cure to the satisfaction of the Board, the Cause Notice shall be deemed rescinded and of
no force or effect.

2.3 Executive’s Right to Terminate. Notwithstanding the provisions of paragraph 2.1,
Executive shall have the right to terminate his employment under this Agreement as follows:

(a) for “Good Reason”, which shall mean a significant reduction in the Executive’s
responsibilities or authority as President, Hotel Group, a change in the Executive’s
reporting relationship such that the Executive does not report to the Company’s most senior
executive officer or a reduction in the Executive’s Base Salary or target bonus level,
provided that Good Reason shall not include an act which is cured by the Company, if
curable, within 30 days after receipt by the Company of written notice from Executive
identifying in reasonable detail the acts or failures allegedly constituting Good Reason
hereunder.

(b) without Good Reason, in the sole discretion of Executive.

2.4 Notice of Termination. If the Company or Executive desires to terminate
Executive’s employment hereunder at any time prior to expiration of the Term as provided above in
this Article 2, it or he shall do so by giving no less than 5 days written notice to the other
party that it or he has elected to terminate Executive’s employment hereunder and stating the
effective date (which shall not be December 31 of any year) and reason for such termination,
provided that no such action shall alter or amend any other provisions hereof or rights arising
hereunder. Upon any termination of Executive’s employment hereunder for whatever reason, Executive
shall, if and to the extent requested to do so by the Board or the Chief Executive Officer,
forthwith resign any and all positions he may then be holding with the Company or any subsidiary of
the Company.

ARTICLE 3:

COMPENSATION AND BENEFITS

3.1 Base Salary. Commencing on the Effective Date, during the Term, Executive shall
receive an annual base salary (“Base Salary”) equal to $700,000 (partial years pro rated).
Executive’s annual Base Salary shall be paid in equal installments in accordance with the Company’s
standard policy regarding payment of compensation to executives but no less frequently than
semi-monthly. The Base Salary shall be subject to annual review commencing at the end of 2006 and
at the end of each calendar year thereafter during the Term, and may be increased (but not
decreased) for subsequent years (and such increased amount shall become the “Base Salary”
hereunder).

3.2 Annual Incentive Program, Restricted Stock Awards and Stock Option Grants.

(a) Annual Incentive Plan. During the Term, Executive also shall be eligible
to receive cash incentive compensation (“Bonus”) as follows: Executive shall participate in
the Starwood Annual Incentive Plan (or successor plan) (AIP) or, at the election of the
Board’s compensation committee, the Annual Incentive Plan for Certain Executives (or
successor plan) (AIPCE) maintained by the Company for senior executive officers on and after
the Effective Date. In either case, the Executive’s target incentive shall be 100% of Base
Salary. The Executive’s actual incentive payout will be based upon the Company’s
performance, the performance of the Company’s owned and managed hotels worldwide, and the
Executive achieving specified performance criteria to be established and approved by the
Chief Executive Officer and, to the extent required, the Compensation Committee of the
Board, in accordance with the terms of the applicable plan. In the event that changes are
made to any of the incentive plans, the changes will apply to the Executive as they do other
employees of the Company. The Executive acknowledges and agrees that the AIP and AIPCE
provide that a portion of the Executive’s annual bonus will be deferred and payable in stock
or stock units of the Company and that a portion of the Executive’s annual Bonus will be
deferred in accordance with the then current practices of the Company.

The Executive and the Company agree that payment of the Executive’s 2006 bonus will be
delivered according to the regular annual incentive plan payout schedule and his bonus will
assume he was employed with the Company for the full year. An annual bonus shall not be
deemed earned by the Executive until the Company has determined his entitlement to such
bonus and only if he is employed by the Company at the time such bonus is payable in
accordance with the AIP, AIPCE and Company practices. The Executive acknowledges and agrees
that, subject to Paragraph 4.1 below, under no circumstances is he entitled hereunder to
receive a pro-rata bonus from the Company upon his termination.

(b) Long Term Incentive Compensation.

(i) Sign On Equity. On or about the Effective Date, the Company shall
award the Executive, pursuant to the terms of the Company’s 2004 Long-Term Incentive
Compensation Plan (the “2004 LTIP”), that number of restricted stock units (each
such unit representing one share of Company common stock (“Share”)) having a fair
market value equal to $705,000, based on the Fair Market Value (as defined in the
2004 LTIP) of a Share on the date of grant. The restricted stock units will vest in
accordance with the form of award agreement under the 2004 LTIP that has been
provided to you, and will otherwise be governed by the provisions of the 2004 LTIP,
provided that such shares will vest if Executive’s employment is terminated by the
Company for any reason or by the Executive for Good Reason. For purposes of this
Paragraph 3.2(b)(i) only, “Good Reason” shall also include a reduction in the
percentage of value of equity awards granted to the Executive under the 2004 LTIP
for 2008 and 2009 such that restricted stock (or restricted stock units) consists of
less than 50% of the total value of the annual equity award.

(ii) 2006 Grant. On or about the Effective Date, the Company shall
award the Executive, pursuant to the terms of the 2004 LTIP, equity awards having an
aggregate value of $2,500,000 (which amount will be pro rated based on the remaining
number of months in the calendar year), payable 50% of value in restricted stock and
50% of value in stock options, with the value of stock options determined in
accordance with the Black Scholes model (with variables determined by the Company
consistent with other stock option grants during 2006 to other senior executives).
The options shall have an exercise price equal to the Fair Market Value (as defined
in the 2004 LTIP) on the date of grant, an eight (8) year option term and shall vest
in accordance with the form of award agreement under the 2004 LTIP that has been
provided to you.

(iii) 2007 Grant. On or about the same time as annual restricted stock
and stock option awards are made to other senior executives in 2007 (currently
expected to be during February 2007), the Company shall award the Executive,
pursuant to the terms of the 2004 LTIP, equity awards having a value of $2,500,000,
payable in the same proportions of restricted stock and stock options as other
senior executives of the Company with the value of options determined by the method
then used by the Company for determining grants to such other senior executives. In
the event that a Change in Control of the Company (as defined under the Company’s
2004 LTIP) that results in the Company no longer having a class of common equity
securities traded on a national securities exchange or quoted on an inter-dealer
quotation system is consummated prior to the date on which the above award is
granted to the Executive, upon consummation of such Change in Control, the Company
shall pay to the Executive a lump sum in cash (less applicable withholdings) in the
amount of $2,500,000 in satisfaction of such award.

(iv) Future Awards. The Executive hereby agrees and acknowledges that
he will next be eligible for annual long-term incentive awards beginning in calendar
year 2008 and that for 2008 and subsequent years, the value of awards, if any, will
be based upon the Executive’s performance and the metrics used for other senior
executives of the Company.

(v) Terms of Awards. All awards of restricted stock, restricted stock
units and grants of options hereunder shall be made to Executive during his
employment by the Company pursuant to the Company’s 2004 LTIP (or any successor
plan) and, except as may be otherwise provided herein, on terms consistent with (or
to the extent determined by the Board in its sole discretion, more favorable than)
awards of restricted stock, restricted stock units and grants of options then being
made to senior executives pursuant to the 2004 LTIP (or any successor plan),
provided that, to the extent that any such awards to other senior executives provide
for non-competition terms that are greater in scope or duration then the
non-competition provisions in Paragraph 5.2 below, Executive’s non-competition
provision in such award agreements shall be limited to the scope and duration of
Paragraph 5.2.

(c) Nothing in the foregoing provisions of this Paragraph 3.2 shall be deemed to
prevent the Board in its sole discretion from awarding any additional or other amounts of
cash, restricted stock units or options or other equity based awards in respect of any whole
or partial year during the Term.

3.3 Vacation and Sick Leave. During each year of his employment, Executive shall be
entitled to vacation and sick leave benefits under the Company’s policies equal to four (4) weeks.

3.4 Other Benefits.

(a) The Executive shall be eligible to participate in the Company’s “StarShare”
employee benefit programs and the Company 401(k) plan on the first day of the month
following 90 days of employment. The Executive and his eligible dependents will be covered
by these benefits as per the Executive’s coverage elections.

(b) The Company agrees to reimburse the Executive for any COBRA payments until the date
the Executive becomes eligible for the Company’s health benefits. The Company will
reimburse the Executive the difference between the applicable normal contribution rate with
the Company and the Executive’s COBRA amount.

(c) The Company shall reimburse the Executive for all legal fees and related expenses
reasonably incurred by Executive (not exceeding $10,000) in connection with the negotiation
and execution of this Agreement

(d) The Executive’s principal Company office will be at its headquarters in White
Plains, New York. The Executive hereby agrees to relocate his residence to the New
York/Connecticut area no later than December 31, 2007. For the period from the Effective
Date until December 31, 2007 (or such earlier date as the Executive elects to relocate his
residence), the Company will (i) pay up to $1,500,000 of the Executive’s air travel expenses
incurred during the first twelve months of his employment (the “Air Travel Allowance”),
which may include commercial air or chartered flights (provided, regular commercial flights
on Company business, including spousal or family travel required as part of Company
business, will not be charged against the $1,500,000 allowance) and (ii) provide the
Executive temporary housing in the New York/Connecticut area until the Executive relocates
his residence as provided above. The Executive agrees to use good faith efforts in planning
his travel to minimize such air travel expenses under the Air Travel Allowance consistent
with his duties and responsibilities as President, Hotel Group. Arrangements for
non-commercial flights will be done in coordination with a company specializing in private
aircraft services (such as Citation Shares or Net Jets) and will be done in a way to permit
as much flexibility as is reasonably possible.

(e) The Company has selected Cendant Mobility Services to administer its Relocation
Program. The Executive shall be entitled to participate in such program. Pursuant to the
program, the Company will pay the reasonable, out-of-pocket costs of relocating the
Executive’s family and household furnishings to New York/Connecticut or to a new location in
California (or both, provided that only if to both, only the reasonable out of pocket costs
of relocating the Executive’s household furnishings shall be reimbursed in connection with a
relocation to a new location in California) in accordance with the provisions of the
Company’s Relocation Program. The Relocation Program includes reimbursement of a set number
of personal, spousal and family trips for house hunting purposes (additional trips may be
funded in the Executive’s discretion through the $1,500,000 Air Travel Allowance). To be
eligible for reimbursement of certain benefits, the Executive is required to utilize the
services of an agent in the Cendant Mobility Preferred Network on both departure and
destination. The Executive shall be eligible to participate in this program until December
31, 2007.

Pursuant to the program, a home buy-out option for Executive’s existing home in California
will be afforded the Executive as he makes the transition to the New York/Connecticut area
or a new location in California. As soon as practicable following the date hereof, Cendant
will arrange for two appraisals of the Executive’s home. If those appraisals are more than
5% apart, a third appraisal will be ordered (the “Appraisal Process”). The appraisals will
then be averaged and the Executive will be offered that amount for his home (the “Initial
Offer”). Once the Initial Offer is made, the Executive will have 60 days to (i) accept the
Initial Offer or (ii) defer the sale of Executive’s home until any time on or prior to
September 30, 2007 (the “Deferral Period”). If the Executive elects to defer the sale, at
the end of the Deferral Period, Cendant will reinitiate the Appraisal Process and the
appraisals will then be averaged and the Executive will be offered that amount for his home
(the “Deferred Offer”) and shall have 60 days to accept the Deferred Offer. Through the
program, the Executive shall receive the original purchase price of the Executive’s home
pursuant to the Initial Offer or the Deferred Offer, as applicable. In addition, if the
Executive elects to defer the sale of his home and the Deferred Offer is less than the
Initial Offer, the Company will reimburse the Executive the difference between the Initial
Offer and the Deferred Offer up to a maximum amount of $100,000, and any excess may, in the
Executive’s election, be applied to the Air Travel Allowance. The Executive will not be
required to market his home in advance of initiating this buyout option.

In the event that relocation expenses are paid (including any payments pursuant to the
penultimate sentence of the previous paragraph) to the Executive or on the Executive’s
behalf, the Executive agrees that if he voluntarily terminates his employment without Good
Reason within one year after his relocation, he will repay the Company all such relocation
expenses, reduced by 1/12 for each full calendar month actually worked. In addition,
eligibility for reimbursement of any and all relocation expenses will cease on the last day
of employment and any relocation expenses incurred after that date will not be reimbursed by
the Company and will be the Executive’s responsibility.

(f) Notwithstanding anything to the contrary in this Agreement, the Company shall
reimburse the Executive for any additional income tax liability, on a grossed-up basis,
related to or resulting from any payment, distribution or provision of a benefit by the
Company to or for the benefit of the Executive with respect to the Air Travel Allowance,
temporary housing or other relocation benefits set forth in Paragraph 3.4(d) and 3.4(e),
provided that the Executive shall not be entitled to any reimbursement in connection with
any capital gains payable or resulting from the sale of the Executive’s residence.

3.5 Withholding. The Base Salary and all other payments, grants and awards to
Executive for his services to the Company shall be subject to all withholding and deductions
required by federal, state or other law (including those authorized by Executive but not otherwise
required by law), including but not limited to state, federal and local income taxes, unemployment
tax, Medicare tax and OASDI FICA, together with such deductions as Executive may from time to time
specifically authorize under any employee benefit program which may be adopted by the Company for
the benefit of its senior executives or Executive.

ARTICLE 4:

EFFECT OF TERMINATION ON COMPENSATION

4.1 Severance Package.

(a) In the event Executive’s employment under this Agreement is terminated prior to the
second anniversary of the Effective Date either (A) by the Company without Cause under
Paragraph 2.2(a)(iv) or (B) by Executive for Good Reason under Paragraph 2.3(a), then,
subject to Paragraph 4.2, as and for a severance package the Company shall provide to the
Executive an amount equal to the sum of his Base Salary plus his target bonus (in each case,
to the extent unpaid through the date of employment termination) for the period expiring on
the third anniversary of the Effective Date and (ii) continuation of the Executive’s health
benefit coverage, at active employee premium rates, through July 31, 2009 (to be followed
thereafter by the Executive’s COBRA health benefit continuation rights at the Executive’s
sole cost and expense); provided, in no event under this Section 4.1(a) will the Executive
be entitled to amounts and benefits less favorable to him than those provided under Section
4.1(b). The target bonus amount above will be prorated for the partial calendar year ending
on the third anniversary of the Effective Date (i.e., a 7/12 target bonus). The payments of
Base Salary and target bonus shall be made in a lump sum within three (3) business days
following the effective date of the release of claims provided under Section 4.2, less all
applicable tax withholdings.

(b) In the event Executive’s employment under this Agreement is terminated after the
second anniversary of the Effective Date either (A) by the Company without Cause under
Paragraph 2.2(a)(iv) or (B) by Executive for Good Reason under Paragraph 2.3(a), then,
subject to Paragraph 4.2, as and for a severance package the Company will pay to the
Executive, in a lump sum, less all applicable withholdings, the sum of (i) twelve (12)
months of the Executive’s then current Base Salary, (ii) a full then target bonus for one
year and (iii) 50% of Executive’s then target bonus multiplied by a fraction, the numerator
of which is the number of full or partial months elapsed in the calendar year to the date of
termination and the denominator of which is twelve. The Company shall also provide the
Executive with continuation of his health benefit coverage for twelve (12) months following
the termination of his employment, at active employee premium rates, to be followed
thereafter by COBRA health benefit continuation rights (such Cobra continuation at the
Executive’s sole cost and expense).

(c) The Executive shall also receive his Accrued Obligations (defined below).

4.2 Liquidated Damages. The parties agree that the above severance package shall be
Executive’s sole and exclusive monetary remedy under this Agreement by reason of termination of
Executive’s employment by the Company other than for Cause or by Executive for Good Reason, it
being agreed that as his actual damages under this Agreement would be difficult to measure or
quantify and would be impracticable to determine, such amount shall constitute liquidated damages
under this Agreement for Executive by reason of such termination by Executive or the Company. Any
such payments due to the Executive under this Agreement shall not be offset, reduced or limited by
amounts Executive might earn or be able to earn from other employment or ventures, or by any
amounts owed by the Executive to the Company, and the Executive shall not be obligated to mitigate
his damages by seeking other employment. Notwithstanding the foregoing, upon any termination of
Executive’s employment and the Company’s payment to Executive of the amounts required to be paid
under Paragraph 4.1, Executive shall execute a release of claims arising out of Executive’s
employment with, and termination of employment from, the Company in the form attached hereto a
Exhibit 4.2 (adjusted as necessary to conform to then existing legal requirements); and all
payments and benefits provided under the above Paragraph 4.1 shall be subject to Executive’s
execution and non-revocation of such a release. It is understood and agreed that, except as set
forth in Paragraph 3.2(b)(i) or 3.2(b)(vi), upon termination of Executive’s employment for any
reason, nothing in this Agreement shall be construed to cause the acceleration or continued vesting
of any equity awards granted to the Executive.

4.3 Rights on Termination for Cause or Without Good Reason. No severance payments
shall be due or owing to Executive in the event that the Company shall fully terminate Executive’s
employment for Cause or Executive shall terminate his employment without Good Reason; provided,
however, that Executive shall be paid (i) all accrued but unpaid Base Salary and accrued and unused
vacation through the date of such termination of employment, (ii) reimbursement of all business
expenses incurred through the date of termination of employment and substantiated in accordance
with Company policy, and (iii) all accrued and vested benefits due to the Executive under all
employee welfare benefit and pension benefit plans in which the Executive participates immediately
prior to the date of termination of employment in accordance with the terms of such plans
(collectively, “Accrued Obligations”).

4.4 Rights on Termination for Death or Disability. If Executive’s employment
terminates due to his death or Disability, he shall be entitled to payment of applicable death or
disability benefits to which he is entitled under the Company plans or programs in which he
participates, his Accrued Obligations and any unpaid annual and long-term bonus payment for a prior
completed performance period. All equity and other long-term incentive awards will vest, or not
vest, and be payable or, in the case of stock options, exercisable as provided in the applicable
award, to the extent not otherwise provided herein.

ARTICLE 5:

REPRESENTATIONS AND WARRANTIES; 

NON-COMPETE AND NON-SOLICITATION

5.1 Representations and Warranties.

(a) Representation and Warranty of Executive. Executive hereby represents and
warrants to the Company that he is not aware of any presently existing fact, circumstance or
event (including, but without limitation, any health condition or legal constraint) which is
not known to the Company which would preclude or restrict him from providing to the Company
the services contemplated by this Agreement, or which would give rise to any breach of any
term or provision hereof, or which could otherwise result in the termination of his
employment hereunder for Cause (as such term is herein defined).

(b) Representation and Warranty of the Company. The Company hereby represents
and warrants to Executive that (i) it is not aware of any fact, circumstance or event which
is not known to Executive which would give rise to any breach of any term or provision of
this Agreement, or which would form the basis for any claim or allegation that Executive’s
employment hereunder could be terminated for Cause hereunder; and (ii) it has received all
authorizations and has taken all actions, necessary or appropriate for the due execution,
delivery and performance of this Agreement, and all options and restricted stock units
described in Article 3.

5.2 Non-Compete and Non-Solicitation.

(a) General. Executive acknowledges that in the course of Executive’s
employment with the Company the Executive will become familiar with trade secrets and other
confidential information concerning the Company and its subsidiaries and that Executive’s
services will be of special, unique and extraordinary value to the Company and its
subsidiaries.

(b) Noncompetition. Executive agrees that during the period of Executive’s
employment with the Company and for a period of two years thereafter (the “Noncompetition
Period”), the Executive shall not, without the express written consent of the Board of
Directors of the Company, directly or indirectly, whether for his own account or for the
account of any other person or entity, engage, participate or make any financial investment
in, become employed by or render advisory services or otherwise assist in or be interested
in any capacity to any person or entity set forth on Exhibit 5.2 attached hereto
(the “Prohibited Entities”).

(c) Nonsolicitation. Executive further agrees that during the Noncompetition
Period, Executive shall not, without the prior written consent of the Company, except in the
course of carrying out the Executive’s duties hereunder, solicit or attempt to solicit for
employment with or on behalf of any corporation, partnership, joint venture or other
business entity, any person who is, or at any time during the six (6) month period preceding
the solicitation of such person was, a management-level employee of the Company (including,
without limitation, for this purpose any director level employee of the Company and any
General Manager of any hotel owned (in whole or in part) or managed by the Company).

(d) Exceptions. Nothing in this Paragraph 5.2 shall prohibit Executive from
being (i) a stockholder in a mutual fund or a diversified investment company or (ii) an
owner of not more than one percent of the outstanding stock (at an original cost less than
$5 Million) of any class of a corporation whose securities are publicly traded, so long as
Executive has no active participation in the business of such corporation.

(e) Reformation. If, at any time of enforcement of this Paragraph 5.2 the
Arbitrator (as defined in Paragraph 6.1(a)) holds that the restrictions stated herein are
unreasonable under circumstances then existing, the parties hereto agree that the maximum
period, scope or geographical area reasonable under such circumstances shall be substituted
for the stated period, scope or area and that the Arbitrator shall be allowed to revise the
restrictions contained herein to cover the maximum period, scope and area permitted by law.
This Agreement shall not authorize the Arbitrator to increase or broaden any of the
restrictions in this Paragraph 5.2.

5.3 Confidentiality. The Executive acknowledges that during the course of his
employment with the Company, the Executive will receive, and will have access to, “Confidential
Information,” as such term is defined below, of the Company and that such information is a special,
valuable and unique asset belonging to the Company. Accordingly, the Executive is willing to enter
into the covenants contained in this Agreement in order to provide the Company with what the
Executive considers to be reasonable protection for the Company’s interests. All notes, memoranda,
papers, documents, correspondence or writings (which shall include information recorded or stored
in writing, on magnetic tape or disc, or otherwise recorded or stored for reproduction, whether by
mechanical or electronic means and whether or not such reproduction will result in a permanent
record being made) (“Documents”) which from time to time may be in the Executive’s possession
(whether prepared by the Executive or not) relating, directly or indirectly, to the business of the
Company shall be and remain the property of the Company and shall be delivered by the Executive to
the Company immediately upon request, and in any event upon termination of the Executive’s
employment, and the Executive shall not make or keep any copies or extracts of the Documents. At
any time during or after the Executive’s employment with the Company ends, without the prior
written consent of the Company, except (i) in the course of carrying out the Executive’s duties
hereunder or (ii) to the extent required by a court or governmental agency, or by applicable law or
under compulsion of legal process, the Executive shall not disclose to any third person any
information concerning the business of the Company, including, without limitation, any trade
secrets, customer lists and details of contracts with or requirements of customers, the identity of
any owner of a managed hotel, information relating to any current, past or prospective management
agreement or joint venture, information pertaining to business methods, sales plans, design plans
and strategies, management organization, computer systems and software, operating policies or
manuals, personnel records or information, information relating to current, past or contemplated
employee benefits or compensation data or strategies, business, financial, development or marketing
plans, or manpower strategies or plans, financial records or other financial, commercial, business
or technical information relating to the Company (collectively, “Confidential Information”), unless
such Confidential Information has been previously disclosed to the public by the Company or is in
the public domain (other than by reason of the Executive’s breach of this Section 5.3).

5.4 Intellectual Property. Executive shall not, at any time, have or claim any right,
title or interest in any trade name, patent, trademark, copyright, trade secret, intellectual
property, methodologies, technologies or other similar rights relating to the Company’s business
(collectively, “Intellectual Property”) belonging to the Company or any of its affiliates and shall
not have or claim any right, title or interest in or to any material or matter of any kind prepared
for or used in connection with the business or promotion of the Company or any of its affiliates,
whether produced, prepared or published in whole or in part by Executive or by the Company or any
of its affiliates. All Intellectual Property that is conceived, devised, made, developed or
perfected by Executive, alone or with others, during Executive’s employment that is related in any
way to the Company’s or any of its affiliates’ business or is devised, made, developed or perfected
utilizing equipment or facilities of the Company or its affiliates shall be promptly disclosed to
the Board, are works for hire and become the sole, absolute and exclusive property of the Company.
If and to the extent that any of such Intellectual Property should be determined for any reason not
to be a work for hire, Executive hereby assigns to the Company all of Executive’s right, title and
interest in and to such Intellectual Property. At the reasonable request and full expense of the
Company (including any reasonable attorneys fees incurred by the Executive) but without further
charge to the Company, whether during or at any time after Executive’s employment with the Company,
Executive shall cooperate fully with the Company and its affiliates in the securing of any trade
name, patent, trademark, copyright or intellectual property protection or other similar rights in
the United States and in foreign countries, including without limitation, the execution and
delivery of assignments, patent applications and other documents or papers.

5.5 Enforcement. The parties hereto agree that the Company and its subsidiaries would
be damaged irreparably in the event that any provision of Paragraphs 5.2, 5.3 or 5.4 of this
Agreement were not performed in accordance with its terms or were otherwise breached and that money
damages would be an inadequate remedy for any such nonperformance or breach. Accordingly, the
Company and its successors and permitted assigns shall be entitled, in addition to other rights and
remedies existing in their favor, to seek an injunction or injunctions to prevent any breach or
threatened breach of any of such provisions and to enforce such provisions specifically (without
posting a bond or other security). Executive agrees that Executive will submit to the personal
jurisdiction of the courts of the State of New York in any action by the Company to enforce an
arbitration award against Executive or to obtain interim injunctive or other relief pending an
arbitration decision.

ARTICLE 6:

ARBITRATION

6.1 Arbitration. In the event of any controversy, dispute or claim arising out of or
related to this Agreement or Executive’s employment by the Company, the parties shall negotiate in
good faith in an attempt to reach a mutually acceptable settlement of such dispute. If
negotiations in good faith do not result in a settlement of any such controversy, dispute or claim,
it shall, except as otherwise provided for herein be finally settled by expedited arbitration
conducted by a single arbitrator selected as hereinafter provided (the “Arbitrator”) in accordance
with the national Rules of the American Arbitration Association governing employment disputes
(“National Rules”), subject to the following (the parties hereby agreeing that, notwithstanding the
provisions of Rule 1 of the National Rules, in the event that there is a conflict between the
provisions of the National Rules and the provisions of this Agreement, the provisions of this
Agreement shall control):

(a) The Arbitrator shall be determined from a list of names of five impartial
arbitrators each of whom shall be an attorney experienced in arbitration matters concerning
executive employment disputes, supplied by the AAA chosen by Executive and the Company each
in turn striking a name from the list until one name remains (with the Company being the
first to strike a name).

(b) The expenses of the arbitration shall be borne by the Company; and the Company
shall bear its own legal fees and expenses and pay, at least monthly, all of Executive’s
legal fees and expenses incurred in connection with such arbitration, except that Executive
shall have to reimburse the Company for his legal fees and expenses if the arbitrator finds
that Executive brought an action in bad faith.

(c) The Arbitrator shall determine whether and to what extent any party shall be
entitled to damages under this Agreement; provided that no party shall be entitled to
punitive or consequential damages (including, in the case of the Company, any claim for
alleged lost profits or other damages that would have been avoided had Executive remained an
employee), and each party waives all such rights, if any.

(d) The Arbitrator shall not have the power to add to nor modify any of the terms or
conditions of this Agreement. The Arbitrator’s decision shall not go beyond what is
necessary for the interpretation and application of the provision(s) of this Agreement in
respect of the issue before the Arbitrator. The Arbitrator shall not substitute his or her
judgment for that of the parties in the exercise of rights granted or retained by this
Agreement. The Arbitrator’s award or other permitted remedy, if any, and the decision shall
be based upon the issue as drafted and submitted by the respective parties and the relevant
and competent evidence adduced at the hearing.

(e) The Arbitrator shall have the authority to award any remedy or relief (including
provisional remedies and relief) that a court of competent jurisdiction could order or
grant. The Arbitrator’s written decision shall be rendered within sixty days of the closing
of the hearing. The decision reached by the Arbitrator shall be final and binding upon the
parties as to the matter in dispute. To the extent that the relief or remedy granted by the
Arbitrator is relief or remedy on which a court could enter judgment, a judgment upon the
award rendered by the Arbitrator shall be entered in any court having jurisdiction thereof
(unless in the case of an award of damages, the full amount of the award is paid within 10
days of its determination by the Arbitrator). Otherwise, the award shall be binding on the
parties in connection with their continuing performances of this Agreement and, in any
subsequent arbitral or judicial proceedings between the parties.

(f) The arbitration shall take place in New York, New York.

(g) The arbitration and all filing, testimony, documents and information relating to or
presented during the arbitration proceeding shall be disclosed exclusively for the purpose
of facilitating the arbitration process and in any court proceeding relating to the
arbitration, and for no other purpose, and shall be deemed to be information subject to the
confidentiality provisions of this Agreement.

(h) The parties shall continue performing their respective obligations under this
Agreement notwithstanding the existence of a dispute while the dispute is being resolved
unless and until such obligations are terminated or expire in accordance with the provisions
hereof.

(i) The parties may obtain a pre-hearing exchange of information including depositions,
interrogatories, production of documents, exchange of summaries of testimony or exchange of
statements of position, and the Arbitrator shall limit such disclosure to avoid unnecessary
burden to the parties and shall schedule promptly all discovery and other procedural steps
and otherwise assume case management initiative and control to effect an efficient and
expeditious resolution of the dispute. At any oral hearing of evidence in connection with an
arbitration proceeding, each party and its counsel shall have the right to examine its
witness and to cross-examine the witnesses of the other party. No testimony of any witness,
or any evidence, shall be introduced by affidavit, except as the parties otherwise agree in
writing.

(j) Notwithstanding the dispute resolution procedures contained in this Paragraph 6.1,
either party may apply to any court sitting in the County, City and State of New York (i) to
enforce this agreement to arbitrate, (ii) to seek provisional injunctive relief so as to
maintain the status quo until the arbitration award is rendered or the dispute is otherwise
resolved, (iii) to confirm any arbitration award, or (iv) to challenge or vacate any final
judgment, award or decision of the Arbitrator that does not comport with the express
provisions of this Article 6.

ARTICLE 7:

MISCELLANEOUS

7.1 Notices. All notices, requests or other communications provided for in this
Agreement shall be made, if to the Company, to the Secretary of the Company at the Company’s
principal executive office, and if to Executive, to his address on the books of the Company (or to
such other address as the Company or Executive may give to the other in writing for purposes of
notice hereunder).

Copies of all notices given to Executive shall be sent to:

Matthew A Ouimet

At the residence address last shown on the payroll records of the Company

And to:

Vedder Price Kaufman & Kammholz, P.C.

222 North LaSalle Street, Suite 2600

Chicago, Illinois 60601

Facsimile: (312) 609-5005

ATT: Robert F. Simon, Esq.

Copies of all notices given to the Company shall be sent to:

Starwood Hotels & Resorts Worldwide, Inc.

1111 Westchester Avenue

White Plains, New York 10604

Attention: Chief Administrative Officer and General Counsel

Facsimile: (914) 640-8240

All notices, requests or other communications required or permitted by this Agreement shall be
made in writing either (a) by personal delivery to the party entitled thereto, (b) by mailing via
certified mail, postage prepaid, return receipt requested, in the United States mails to the last
known address of the party entitled thereto, (c) by reputable overnight courier service, or (d) by
facsimile with confirmation or receipt. The notice, request or other communication shall be deemed
to be received upon actual receipt by the party entitled thereto; provided, however, that if a
notice, request or other communication is received after regular business hours, it shall be deemed
to be received on the next succeeding business day of the Company.

7.2 Applicable Law. This contract is entered into under, and shall be governed for
all purposes by, the laws of the State of New York.

7.3 No Waiver. No failure by either party hereto at any time to give notice of any
breach by the other party of, or to require compliance with, any condition or provision of this
Agreement shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or
at any prior or subsequent time.

7.4 Severability. If a court of competent jurisdiction determines that any provision
of this Agreement is invalid or unenforceable, then the invalidity or unenforceability of that
provision shall not affect the validity or enforceability of any other provision of this Agreement
and all other provisions shall remain in full force and effect.

7.5 Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed to be an original, but all of which together will constitute one and the same
Agreement.

7.6 Headings. The paragraph headings have been inserted for purposes of convenience
and shall not be used for interpretive purposes.

7.7 Gender and Plurals. Wherever the context so requires, the masculine gender
includes the feminine or neuter, and the singular number includes the plural and conversely.

7.8 Successors. This Agreement shall be binding upon and inure to the benefit of the
Company and any successor of the Company, including without limitation any person, association or
entity which may hereafter acquire or succeed to all or substantially all of the business or assets
of the Company by any means whether direct or indirect, by purchase, merger, consolidation, or
otherwise. The Company shall require any such successor to the Company to expressly assume, in
writing, satisfaction in form and substance to Executive all of the Company’s obligations to
Executive hereunder and otherwise. Except as provided in the preceding sentences, this Agreement
and the rights and obligations of the parties hereunder are personal, and neither this Agreement
nor any right, benefit or obligation of either party hereto shall be subject to voluntary or
involuntary assignment, alienation or transfer, whether by operation of law or otherwise, without
the prior written consent of the other party.

7.9 Entire Agreement. Any modification of this Agreement shall be effective only if
it is in writing and signed by the party to be charged. In the event of any inconsistency between
this Agreement and any other plan, program, practice or agreement of the Company in which the
Executive participates or is a party, this Agreement shall control except where such other plan,
program, practice or agreement is more favorable to the Executive, provided further that in all
events, (x) the last sentence of each of Sections 3.2(b)(i) and 3.2(b)(iii) and Sections 3.4(d) and
3.4(e) hereof shall be deemed incorporated by reference into the severance agreement, dated as of
August 2, 2006 between the Company and the Executive (the “Severance Agreement”) and applicable
thereunder, (y) section 4.1(a) hereof shall control over the Severance Agreement to the extent that
Section 4.1(a) hereof is more favorable to the Executive than the provisions under Sections
6.1(a)(1) and 6.1(a)(2) of the Severance Agreement and (z) at no time shall the Executive be
subject to a non-competition covenant that is more restrictive to the Executive than the provisions
provided under Section 5.2(b) hereof.

7.10 Deemed Resignations. Any termination of Executive’s employment shall constitute
an automatic resignation of Executive as an officer of the Company and each affiliate of the
Company, and from the board of directors or any similar governing body of any corporation, trust,
limited liability company or other entity in which the Company or any affiliate holds an equity
interest and with respect to which board or similar governing body Executive serves as the
Company’s or such affiliate’s designee or other representative. Executive shall cooperate with the
Company and execute all such formal resignations and other documents as the Company may reasonably
request in furtherance of the foregoing.

7.11 Indemnification.

(a) In addition to any additional benefits provided under applicable state law, as a
Director and officer of the company, Executive shall be entitled to the benefits of: (1)
those provisions of the Articles of Incorporation of the Company, as amended, and of the
by-laws of the Company as amended, which provide for indemnification of officers and
Directors of the Company (and no such provision shall be amended in any way to limit or
reduce the extent of indemnification available to Executive as an officer of the Company),
(ii) the Indemnification Agreement between the Company and Executive dated as of the date
hereof (the “Indemnification Agreement”).

(b) The rights of Executive under such indemnification obligations shall survive the
termination of this Agreement and be applicable for so long as Executive may be subject to
any claim, demand, liability, cost or expense, which the indemnification obligations
referred to in this Paragraph 7.11 are intended to protect and indemnify him against.

(c) The Company shall, at no cost to Executive, use its reasonable best efforts to at
all times include Executive, during the term of Executive’s employment hereunder and for so
long thereafter as Executive may be subject to any such claim, as an insured under any
directors’ and officers’ liability insurance policy maintained by the Company, which policy
shall provide such coverage in such amounts as the Board shall deem appropriate for coverage
for all directors and officers of the Company.

IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by its duly authorized
officer and Executive has signed this Agreement as of the day and year first above written.

STARWOOD HOTELS & RESORTS WORLDWIDE, INC., a
Maryland corporation

By:

Name:

Its:

EXECUTIVE

Matthew A. OuimetExhibit 10.1(b)

             Schedule of Secured Convertible Note (demand) Issued by
             NCT Group, Inc. to Carole Salkind on September 22, 2006

    Issue Date       Due Date           Principal         Conversion Price
    ----------       --------           ---------         ----------------
     09/22/06        Earlier of:        $550,000       Greater of:  (i) $0.0025;
                     (i) demand;                       or (ii) the par value of
                     or (ii) 03/22/07                  NCT Group, Inc.
                                                       common stock on the
                                                       date of conversion

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}]]