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                                                                    EXHIBIT 10.B

                                    VIAD CORP

                            MANAGEMENT INCENTIVE PLAN

              PURSUANT TO THE 1997 VIAD CORP OMNIBUS INCENTIVE PLAN

                            AS AMENDED MARCH 25, 2003

I.    PURPOSE:

      The purpose of the Viad Corp Management Incentive Plan (Plan) is to
      provide key executives of Viad Corp (Viad) and its subsidiaries with an
      incentive to achieve goals as set forth under this Plan for each calendar
      year (Plan Year) for their respective companies and to provide effective
      management and leadership to that end.

II.   PHILOSOPHY:

      The Plan will provide key executives incentive bonuses based upon
      appropriately weighted pre-defined income and other performance
      measurements.

III.  SUBSIDIARIES, SUBSIDIARY GROUPS AND DIVISIONS:

      A.    Each subsidiary, subsidiary group, line of business or division
            listed below is a "Company" for the purposes of this Plan:

      Name of Company

      Brewster Transport Company Limited/Brewster Tours group
      Exhibitgroup/Giltspur group
      GES Exposition Services, Inc. group
      Glacier Park, Inc.
      Travelers Express Company, Inc. group

      Viad may, by action of its Board of Directors or its Human Resources
      Committee, add or remove business units on the list of participant
      companies from time to time.

      B.    FUNDING LIMIT:

            A "funding limit" shall be established annually for each Company
            participant who has been designated an Executive Officer as defined
            under Section 16(b) of the Securities Exchange Act. The funding
            limit shall be an amount determined by multiplying the actual net
            income of the Company for the Plan Year by the percent of such
            income

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            approved by the Human Resources Committee of the Viad Corp Board of
            Directors (Committee) for such funding limit. The subsidiary
            executive cannot be paid a larger bonus than the funding limit
            provided by this clause, but may be paid less in the discretion of
            the Committee based on the Performance Goals set forth below and
            other such factors which the Committee may consider.

      C.    PERFORMANCE GOALS:

            1. OPERATING OR PRE-TAX INCOME (as calculated for external
               reporting purposes):

               An appropriate "operating income" or "pre-tax income" target for
               the plan year for each Company will be recommended by the Chief
               Executive Officer of Viad to the Committee for approval taking
               into account overall corporate objectives, historical income and
               Plan Year financial plan income (on the same basis as determined
               below) and, if appropriate, other circumstances.

               Operating or pre-tax income to be used in calculating the bonus
               pool of each Company shall mean operating income before minority
               interest, interest expense and taxes, after deduction of
               corporate overhead, or pre-tax income after minority interest, in
               each case adjusted to appropriately exclude the effects of gains
               and losses from the sale or other disposition of capital assets
               other than vehicles. In addition, an adjustment to actual
               operating or pre-tax income will be made for any increase or
               decrease in cost to a subsidiary in connection with a change in
               the actual formula allocation of corporate overhead over amounts
               included in the Plan for the year.

               Special treatment of any other significant unusual or
               non-recurring items (for purposes of determining actual or target
               operating or pre-tax income) arising after a Company's targets
               are set may be recommended by the Chief Executive Officer of Viad
               to the Committee for approval, including, for example,
               appropriate adjustment of operating or pre-tax income target or
               actuals to reflect planned effects of an acquisition approved
               after target has been set. Other examples include unusual items
               or effects of a change in accounting principle.

               Incentives to be paid under this Plan must be deducted from the
               subsidiary corporation's earnings by the end of the year. Goals
               must be achieved after deducting from actual results all
               incentive compensation applicable to the year, including those
               incentives earned under this Plan.

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            2. VALUE ADDED MEASUREMENT:

               An appropriate "Value Added" target for the plan year for certain
               companies will be recommended by the Chief Executive Officer of
               Viad Corp to the Committee for approval. This measurement is
               intended to place increased emphasis on securing an adequate
               return to Viad on all capital employed in the business. Viad
               Value Added (VVA) compares net operating income to the return
               required on capital invested in the business.

               In calculating the bonus pool of each applicable Company, VVA
               shall mean Net Operating Profit After Taxes (NOPAT is defined as
               sales minus operating expenses minus taxes) minus a Capital
               Charge calculated by multiplying a Cost of Capital times the
               actual Capital (Capital is defined as total assets less current
               and other liabilities exclusive of debt). Certain adjustments are
               necessary to determine NOPAT and Capital.

            3. CASH FLOW:

               An appropriate "Cash Flow" target for the plan year for certain
               companies will be recommended by the Chief Executive Officer of
               Viad Corp to the Committee for approval. This measurement is
               intended to place increased emphasis on delivering available cash
               to Viad.

               Free Cash Flow is defined as net income plus depreciation and
               amortization less capital expenditures, plus the change in
               working capital plus minority interest income/loss plus the
               change in other operating activities (i.e., change in long-term
               assets/liabilities, settlement of lawsuits, etc.).

            4. OTHER PERFORMANCE MEASUREMENTS:

               An appropriate number of performance measurements other than
               operating or pre-tax income, VVA, and cash flow will be
               established for each Company, to place increased emphasis on
               areas of importance to achieving overall corporate objectives,
               with the Chief Executive Officer of Viad to recommend to the
               Committee the measures to be used and, at the end of the year,
               the level of achievement against each.

            5. REVENUE:

               The bonus pool earned will be subject to a further calculation
               whereby the total bonus pool otherwise accruable will be adjusted
               by 95% (threshold) up to 105% (maximum), depending on the
               achievement against the revenue target.

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            6. ESTABLISHING TARGETS:

               The targets for revenue, operating or pre-tax income, VVA, cash
               flow and for the categories of discretionary performance
               measurements to be employed will be established by the Committee
               no later than 90 days after the beginning of the Plan Year after
               receiving the recommendations of the Chief Executive Officer of
               Viad Corp.

      D.    PARTICIPANT ELIGIBILITY:

            The Committee will select the Executive Officers as defined under
            Section 16(b) of the Securities Exchange Act eligible for
            participation no later than 90 days after the beginning of the Plan
            Year. Other personnel will be eligible for participation as
            designated by each Company President or Chief Executive Officer and
            recommended to the Chief Executive Officer of Viad Corp for
            approval, limited only to those executives who occupy a position in
            which they can significantly affect operating results as pre-defined
            by appropriate and consistent criteria, i.e., base salary not less
            than $49,000 per year, or base salary not less than 50% of the
            Company's Chief Executive Officer, or position not more than the
            third organizational level below the Company Chief Executive Officer
            or another applicable criteria.

            NOTE: Individuals not qualifying under the criteria established for
            the Plan Year who were included in the previous year will be
            grandfathered (continue as qualified participants until retirement,
            reassignment, or termination of employment) if designated by the
            Company President or Chief Executive Officer, and approved by the
            Chief Executive Officer of Viad Corp.

      E.    TARGET BONUSES:

            Target bonuses will be approved by the Committee for each Executive
            Officer in writing within the following parameters no later than 90
            days after the beginning of the Plan Year and will be expressed as a
            percentage of salary paid during the year. Target bonuses for other
            eligible personnel will be established in writing within the
            following parameters subject to approval by the Chief Executive
            Officer of Viad Corp.

            Actual bonus awards will be dependent on Company performance versus
            the targets established. A threshold performance will be required
            before any bonus award is earned under the net income goal. Awards
            will also be capped when stretch performance levels are achieved.

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<TABLE>
<CAPTION>
                                           As a Percentage of Salary
      Subsidiary Positions*         Threshold**       Target         Cap
<S>                                 <C>               <C>           <C>
Chief Executive Officer/President      25.0%           50%          100%
                                       22.5%           45%           90%
                                       20.0%           40%           80%

Executive Vice President-Senior        20.0%           40%           80%
Vice President, and Other
Operating Executives

Vice Presidents                        17.5%           35%           70%
                                       15.0%           30%           60%

Key Management Reporting to            12.5%           25%           50%
Officers                               10.0%           20%           40%

Staff Professionals                     7.5%           15%           30%
                                        5.0%           10%           20%
</TABLE>

*     Target Bonus, as determined by the Committee, is dependent upon
      organization reporting relationships.

**    Reflects minimum achievement of all performance targets. Threshold could
      be lower if minimum achievement of only one performance target is met.

      F.    BONUS POOL TARGET:

            1. The "Bonus Pool Target" will be initially established no later
               than 90 days after the beginning of the Plan Year and will be
               adjusted to equal the sum of the target bonuses of all designated
               participants in each Company based upon actual Plan Year
               salaries, as outlined in paragraph D above, plus 15% for Special
               Achievement Awards.

            2. The bonus pool will accrue in accordance with the Bonus Pool
               Accrual Formula recommended by the Chief Executive Officer of
               Viad Corp and approved by the Committee.

            3. Bonus pool accruals not paid out shall not be carried forward to
               any succeeding year.

      G.    INDIVIDUAL BONUS AWARDS:

            1. Indicated bonus awards will be equal to the product of the target
               bonus percentage times the weighted average percentage of bonus
               pool accrued as determined in paragraph F above times the
               individual's actual base salary earnings during the Plan Year,
               subject to adjustments as follows:

               a) discretionary upwards or downward adjustment of formula bonus
                  awards by the Committee after considering the recommendation
                  of the Company President or Chief Executive Officer with the
                  approval of the

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                  Chief Executive Officer of Viad Corp for those executives not
                  affected by Section 162(m) of the Internal Revenue Code, and

               b) discretionary downward adjustment of awards by the Committee
                  for those Executive Officers affected by Section 162(m) of the
                  Internal Revenue Code, and

               c) no individual award may exceed the individual's capped target
                  award or the funding limit with respect to Executive Officers,
                  and the aggregate recommended bonuses may not exceed the bonus
                  pool accrued for other than Special Achievement Awards.

            2. Bonuses awarded to the participating management staff of
               subsidiary groups may be paid from funds accrued based upon the
               target bonus for such participant(s) times the weighted average
               performance of the Companies in the subsidiary group, subject to
               adjustments as above.

IV.   VIAD CORP CORPORATE STAFF:

      A.    FUNDING LIMIT:

            A "funding limit" shall be established annually for each Corporate
            participant who has been designated an Executive Officer as defined
            under Section 16(b) of the Securities Exchange Act. The funding
            limit will be an amount determined by multiplying the actual net
            income from continuing operations of Viad (as used in the income per
            share calculation described herein) for the Plan Year by the percent
            of such income approved by the Committee for such funding limit. The
            executive cannot be paid a larger bonus than the funding limit
            provided by this clause, but may be paid less in the discretion of
            the Committee based on the Performance Goals set forth below and
            such other factors which the Committee may consider.

      B.    PERFORMANCE GOALS:

            1. INCOME PER SHARE:

               An appropriate "income per share" from continuing operations
               target for Viad Corp will be recommended by the Chief Executive
               Officer of Viad Corp to the Committee for approval after
               considering historical income per share from continuing
               operations, Plan Year financial plan income, overall corporate
               objectives, and, if appropriate, other circumstances.

               Income per share from continuing operations is determined before
               unusual or extraordinary items, effects of changes in accounting
               principles or a change in federal income tax rates after the
               target has been set. Reclassification of a major business unit to
               discontinued operations status after targets have been set would
               also require adjustment because of the effect on continuing
               operations results. While gains on disposition of a

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               business would normally not be included in determining actual
               Plan Year net income or income per share, in the event of the
               sale of a subsidiary or major business unit, a portion of gain
               would be included equal to the difference between the sold
               unit's planned net income for the year and actual results to
               date of sale plus calculated interest savings on proceeds for
               the balance of the year, so that actual results are not
               penalized for selling a business.

               Incentives to be paid under this Plan must be deducted from
               Viad's earnings by the end of the year. Goals must be achieved
               after deducting from actual results all incentive compensation
               applicable to the year, including those incentives earned under
               this Plan.

            2. VALUE ADDED MEASUREMENT:

               An appropriate "Value Added" target for the plan year for
               Corporate will be recommended by the Chief Executive Officer of
               Viad for approval by the Human Resources Committee. This
               measurement is intended to place increased emphasis on securing
               an adequate return to Viad on all capital employed in the
               business. Viad Value Added (VVA) compares operating income to the
               return required on capital invested in the business.

               In calculating the bonus pool for Corporate, VVA shall mean Net
               Operating Profit After Taxes (NOPAT is defined as sales minus
               operating expenses minus taxes) minus a Capital Charge calculated
               by multiplying a Cost of Capital times the actual Capital
               (Capital is defined as total assets less current and other
               liabilities exclusive of debt). Certain adjustments are necessary
               to determine NOPAT and Capital.

            3. OTHER PERFORMANCE MEASUREMENTS:

               An appropriate number of performance measurements other than
               income per share will be established for Corporate, with the
               Chief Executive Officer of Viad to recommend to the Committee the
               level of achievement against each of the measures.

            4. REVENUE:

               The bonus pool earned will be subject to a further calculation
               whereby the total bonus pool otherwise accruable will be adjusted
               by 95% (threshold) up to 105% (maximum) depending on the
               achievement against the revenue target.

            5. ESTABLISHING TARGETS:

               The actual targets for revenue, income per share, VVA and for the
               performance measurements to be used will be established by the
               Committee no later than 90 days after the beginning of the Plan
               Year after

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               receiving the recommendations of the Chief Executive Officer of
               Viad Corp.

      C.    PARTICIPANT ELIGIBILITY:

            The Committee will select the Executive Officers as defined under
            Section 16(b) of the Securities Exchange Act eligible for
            participation no later than 90 days after the beginning of the Plan
            Year. Other personnel will be eligible for participation as
            recommended by the appropriate staff Vice President and as approved
            by the Chief Executive Officer of Viad Corp, limited only to those
            executives who occupy a position in which they can significantly
            affect operating results as defined by the following criteria:

               a) Salary grade 25 and above; and

               b) Not more than Organizational Level Four below the Chief
                  Executive Officer.

            NOTE: Individuals not qualifying under the criteria established for
            the Plan Year who were included in the previous year will be
            grandfathered (continue as qualified participants until retirement,
            reassignment, or termination of employment) if designated by the
            appropriate Vice President and approved by the Chief Executive
            Officer of Viad Corp.

      D.    TARGET BONUSES:

            Target bonuses will be approved by the Committee for each Executive
            Officer in writing within the following parameters no later than 90
            days after the beginning of the Plan Year and will be expressed as a
            percentage of salary. Target bonuses for other eligible personnel
            will be established in writing within the following parameters
            subject to approval by the Chief Executive Officer of Viad Corp.

            Actual bonus awards will be dependent on Company performance versus
            the targets established. A threshold performance will be required
            before any bonus award is earned under the income per share goal.
            Awards also will be capped when stretch performance levels are
            achieved.

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<TABLE>
<CAPTION>
                                           As a Percentage of Salary
       Corporate Positions          Threshold**       Target         Cap
<S>                                 <C>               <C>           <C>
Chairman, President & Chief            37.5%           75%          150%
Executive Officer

Senior Advisory Group                  25.0%           50%          100%
                                       22.5%           45%           90%

Corporate Staff Officers               20.0%           40%           80%

Staff Directors*                       17.5%           35%           70%
                                       15.0%           30%           60%
                                       12.5%           25%           50%
                                       10.0%           20%           40%

Staff Professionals*                    7.5%           15%           30%
                                        5.0%           10%           20%
</TABLE>

*     Target Bonus, as determined by the Committee, is dependent upon
      organization reporting relationships.

**    Reflects minimum of achievement of all performance targets. Threshold
      could be lower if minimum achievement of only one performance target is
      met.

      E.    BONUS POOL TARGET:

            1. The "Bonus Pool Target" will be established no later than 90 days
               after the beginning of the Plan Year and will be adjusted to
               equal the sum of the target bonuses of all qualified participants
               based upon actual Plan Year base salaries, as outlined in
               paragraph C above, plus 15% for Special Achievement Awards.

            2. The bonus pool will accrue in accordance with the Bonus Pool
               Accrual Formula recommended by the Chief Executive Officer of
               Viad Corp and approved by the Committee.

            3. Bonus pool accruals not paid out shall not be carried forward to
               any succeeding year.

      F.    INDIVIDUAL BONUS AWARDS:

            Indicated bonus awards will be equal to the product of the target
            bonus percentage times the weighted average percentage of bonus pool
            accrued as determined in paragraph D above times the individual's
            actual Plan Year base salary earnings, subject to adjustments as
            follows:

               a) discretionary upward or downward adjustment of formula awards
                  by the Committee after considering the recommendations of the
                  Chief Executive Officer of Viad Corp for those executives not
                  affected by Section 162(m) of the Internal Revenue Code,

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               b) discretionary downward adjustment of awards by the Committee
                  for those Executive Officers affected by Section 162(m) of the
                  Internal Revenue Code, and

               c) no individual award may exceed the individual's capped target
                  award or the funding limit with respect to Executive Officers
                  and the aggregate recommended bonuses may not exceed the bonus
                  pool for other than Special Achievement Awards.

V.    REPAYMENT PROVISIONS:

      A.    NON-COMPETE:

            Unless a Change of Control (as defined in the Viad Corp Omnibus
            Incentive Plan, as amended) shall have occurred after the date
            hereof:

            1. In order to better protect the goodwill of Viad and its
               Affiliates (as defined in the Plan) and to prevent the disclosure
               of Viad's or its Affiliates' trade secrets and confidential
               information and thereby help insure the long-term success of the
               business, each participant in this Plan, without prior written
               consent of Viad, will not engage in any activity or provide any
               services, whether as a director, manager, supervisor, employee,
               adviser, agent, consultant, owner of more than five (5) percent
               of any enterprise or otherwise, for a period of two (2) years
               following the date of such participant's termination of
               employment with Viad or any of its Affiliates, in connection with
               the manufacture, development, advertising, promotion, design, or
               sale of any service or product which is the same as or similar to
               or competitive with any services or products of Viad or its
               Affiliates (including both existing services or products as well
               as services or products known to such participant, as a
               consequence of such participant's employment with Viad or one of
               its Affiliates, to be in development):

               a) with respect to which such participant's work has been
                  directly concerned at any time during the two (2) years
                  preceding termination of employment with Viad or one of its
                  Affiliates, or

               b) with respect to which during that period of time such
                  participant, as a consequence of participant's job performance
                  and duties, acquired knowledge of trade secrets or other
                  confidential information of Viad or its Affiliates.

            2. For purposes of the provisions of paragraph V A, it shall be
               conclusively presumed that a participant in this Plan has
               knowledge of information he or she was directly exposed to
               through actual receipt or review of memos or documents containing
               such

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               information, or through actual attendance at meetings at which
               such information was discussed or disclosed.

            3. If, at any time within two (2) years following the date of a
               participant's termination of employment with Viad or any of its
               Affiliates, such participant engages in any conduct agreed to be
               avoided in accordance with paragraph V A, then all bonuses paid
               under this Plan to such participant during the last 12 months of
               employment shall be returned or otherwise repaid by such
               participant to Viad. Participants in this Plan consent to the
               deduction from any amounts Viad or any of its Affiliates owes to
               such participants to the extent of the amounts such participants
               owe Viad hereunder.

      B.    MISCONDUCT:

            Unless a Change of Control shall have occurred after the date
            hereof, all bonuses paid for 2003 and thereafter under this Plan to
            any participant shall be returned or otherwise repaid by such
            participant to Viad, if Viad reasonably determines that during a
            participant's employment with Viad or any of its Affiliates:

               a) such participant knowingly participated in misconduct that
                  causes a misstatement of the financial statements of Viad or
                  any of its Affiliates or misconduct which represents a
                  material violation of any code of ethics of Viad applicable to
                  such participant or of the Always Honest compliance program or
                  similar program of Viad; or

               b) such participant was aware of and failed to report, as
                  required by any code of ethics of Viad applicable to such
                  participant or by the Always Honest compliance program or
                  similar program of Viad, misconduct that causes a misstatement
                  of the financial statements of Viad or any of its Affiliates
                  or misconduct which represents a material knowing violation of
                  any code of ethics of Viad applicable to such participant or
                  of the Always Honest compliance program or similar program of
                  Viad.

            Participants in this Plan consent to the deduction from any amounts
            Viad or any of its Affiliates owes to such participants to the
            extent of the amounts such participants owe Viad hereunder.

      C.    ACTS CONTRARY TO VIAD:

            Unless a Change of Control shall have occurred after the date
            hereof, if Viad reasonably determines that at any time within two
            (2) years after the award of any bonus under this Plan to a
            participant that such participant has acted significantly contrary
            to the best interests of Viad, including, but not limited to, any
            direct or indirect intentional

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            disparagement of Viad, then any bonus paid under this Plan to such
            participant during the prior 2-year period shall be returned or
            otherwise repaid by the participant to Viad. Participants in this
            Plan consent to the deduction from any amounts Viad or any of its
            Affiliates owes to such participants to the extent of the amounts
            such participants owe Viad hereunder.

      D.    The Corporation's reasonable determination required under paragraphs
            V B and V C shall be made by the Human Resources Committee of the
            Corporation's Board of Directors, in the case of executive officers
            of the Corporation, and by the Chief Executive Officer and Corporate
            Compliance Officer of the Corporation, in the case of all other
            officers and employees.

VI.   SPECIAL ACHIEVEMENT AWARDS:

      Special bonuses of up to 15% of base salary for exceptional performance to
      employees (primarily exempt employees) who are not participants in this
      Plan, including newly hired employees, may be recommended at the
      discretion of the Chief Executive Officer to the Committee from the
      separate funds for discretionary awards provided for under paragraphs III
      F and IV E.

VII.  APPROVAL AND DISTRIBUTION:

      The individual incentive bonus amounts and the terms of payment thereof
      will be fixed following the close of the Plan Year by the Committee. Any
      award made under this Plan is subject to the approval of this Plan by the
      stockholders of Viad Corp.

VIII. COMPENSATION ADVISORY COMMITTEE:

      The Compensation Advisory Committee is appointed by the Chief Executive
      Officer of Viad Corp to assist the Committee in the implementation and
      administration of this Plan. The Compensation Advisory Committee shall
      propose administrative guidelines to the Committee to govern
      interpretations of this Plan and to resolve ambiguities, if any, but the
      Compensation Advisory Committee will not have the power to terminate,
      alter, amend, or modify this Plan or any actions hereunder in any way at
      any time.

IX.   SPECIAL COMPENSATION STATUS:

      All bonuses paid under this Plan shall be deemed to be special
      compensation and, therefore, unless otherwise provided for in another plan
      or agreement, will not be included in determining the earnings of the
      recipients for the purposes of any pension, group insurance or other plan
      or agreement of a Company or of Viad Corp. Participants in this Plan shall
      not be eligible for any contractual or other short-term (sales,
      productivity, etc.) incentive plan except in those cases where
      participation is weighted between this Plan and any such other short-term
      incentive plan.

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X.    DEFERRALS:

      Participants subject to taxation of income by the United States may submit
      to the Committee, prior to November 15 of the year in which the bonus is
      being earned a written request that all or a portion, but not less than a
      specified minimum, of their bonus awards to be determined, if any, be
      irrevocably deferred substantially in accordance with the terms and
      conditions of a deferred compensation plan approved by the Board of
      Directors of Viad Corp or, if applicable, one of its subsidiaries.
      Participants subject to taxation of income by other jurisdictions may
      submit to the Committee a written request that all or a portion of their
      bonus awards be deferred in accordance with the terms and conditions of a
      plan which is adopted by the Board of Directors of a participant's
      Company. Upon the receipt of any such request, the Committee thereunder
      shall determine whether such request should be honored in whole or part
      and shall forthwith advise each participant of its determination on such
      request.

XI.   PLAN TERMINATION:

      This Plan shall continue in effect until such time as it may be canceled
      or otherwise terminated by action of the Board of Directors of Viad Corp
      and will not become effective with respect to any Company unless and until
      its Board of Directors adopts a specific plan for such Company. While it
      is contemplated that incentive awards from the Plan will be made, the
      Board of Directors of Viad Corp, or any other Company hereunder, may
      terminate, amend, alter, or modify this Plan at any time and from time to
      time. Participation in the Plan shall create no right to participate in
      any future year's Plan.

XII.  EMPLOYEE RIGHTS:

      No participant in this Plan shall be deemed to have a right to any part or
      share of this Plan, except as provided in Paragraph XIII. This Plan does
      not create for any employee or participant any right to be retained in
      service by any Company, nor affect the right of any such Company to
      discharge any employee or participant from employment. Except as provided
      for in administrative guidelines, a participant who is not an employee of
      Viad Corp or one of its subsidiaries on the date bonuses are paid will not
      receive a bonus payment.

XIII. EFFECT OF CHANGE OF CONTROL:

      Notwithstanding anything to the contrary in this Plan, in the event of a
      Change of Control (as defined in the 1997 Viad Corp Omnibus Incentive
      Plan) each participant in the Plan shall be entitled to a prorata bonus
      award calculated on the basis of achievement of performance goals through
      the date of the Change of Control.

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XIV.  EFFECTIVE DATE:

      The Plan shall be effective January 1, 1997, provided however, that any
      award made under this Plan is subject to the approval of the 1997 Viad
      Corp Omnibus Incentive Plan by the stockholders of Viad Corp.

                                                                              14<PAGE>
                                                                   EXHIBIT 10.C1

         AMENDMENT TO AMENDED AND RESTATED EXECUTIVE SEVERANCE AGREEMENT
               AS APPROVED BY THE BOARD OF DIRECTORS OF VIAD CORP
                                ON MARCH 25, 2003

The Amended and Restated Executive Severance Agreement effective as of March 15,
2001, between Viad Corp and the Chairman, President and Chief Executive Officer,
is hereby amended, effective as of March 25, 2003, as follows:

1.    Section 2(a) is amended by changing the word "emended" to "amended."

2.    Section 4(a) is amended by deleting it in its entirety and replacing it
      with the following:

            (a) Lump Sum Cash Payment. On or before the Executive's last day of
      employment with the Corporation, the Corporation will pay to the Executive
      as compensation for services rendered to the Corporation a lump sum cash
      amount (subject to any applicable payroll or other taxes required to be
      withheld) equal to three times the sum of (i) his highest annual salary
      fixed during the period he was an employee of the Corporation, plus (ii)
      the greater of (A) the largest amount awarded to him in a year as a cash
      bonus (whether or not deferred and regardless of deferral election) under
      the Corporation's Management Incentive Plan during the preceding four
      years, or (B) the target bonus under the Corporation's Management
      Incentive Plan for the fiscal year in which the Change of Control occurs,
      plus (iii) the greater of (C) the largest amount awarded to Executive in a
      year as cash bonus (whether or not deferred and regardless of deferral
      election) under the Corporation's Performance Unit Incentive Plan during
      the preceding four years, or (D) the aggregate value of shares when earned
      during a performance period under any performance-related Restricted Stock
      award during the preceding four years, or (E) the aggregate value at the
      time of grant of the target shares awarded under the Corporation's
      performance-related Restricted Stock programs for the fiscal year in which
      the Change of Control occurs.

3.    Section 4(c) is amended to correct a typographical error by replacing the
      "or" with an "of" at the end of the first sentence before the phrase "such
      option or right."

4.    Section 4(d)(i)(y) is amended by deleting "is" in the phrase "his final
      average compensation is as determined under the Plans."

5.    Sections 4(e)(ii)(A), (B), (C) and (D) are amended by capitalizing the
      first letter in the first word of each of these subsections.

                                          /s/ Suzanne Pearl
                                          --------------------------------------
                                          By:    Suzanne Pearl
                                          Title: Vice President, Human Resources

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