Document:

CHH EX 10.01 BAINUM

Exhibit 10.01

AMENDMENT TO 
AMENDED AND RESTATED CHAIRMAN’S SERVICES AGREEMENT

This Amendment (“Amendment”) is made as of January 1 2012 by and between Choice Hotels International, Inc. ("Choice"), and Stewart Bainum, Jr. (“Mr. Bainum”) and amends that certain Amended and Restated Chairman’s Services Agreement dated September 10, 2008 between the parties (“Agreement”).  

NOW, THEREFORE, in consideration of the promises contained in this Amendment, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree to the following terms:

1.  Compensation.  Section 3(a) of the Agreement is deleted and replaced with the following: 

(a)  Base salary of 235,000 per annum payable in bi-weekly installments. 

2.  Miscellaneous.

(a) All other provisions of the Agreement not modified by this Amendment remain in full force and effect.

(b)  The Agreement and this Amendment contains the entire agreement of the parties, and supersedes all other agreements, discussions or understandings concerning the subject matter. The Agreement may be changed only by an agreement in writing signed by both parties. 

Choice Hotels International, Inc.                     	
	
	By:   /s/ Ervin R. Shames 

	 

Chairman:
	
	
	/s/ Stewart Bainum, Jr. 

	Stewart Bainum, Jr.CHH EX10.02 PACIOUS

Exhibit 10.02

Amendment to
Non-Competition, Non-Solicitation & Severance Benefit Agreement

This Amendment (“Amendment”), dated March 13, 2012, amends that certain Non-Competition, Non-Solicitation & Severance Benefit Agreement (“Agreement”), dated May 5, 2011 between Choice Hotels International, Inc. (“Choice”), a Delaware corporation with principal offices at 10750 Columbia Pike, Silver Spring, Maryland 20901, and Patrick Pacious (“Employee”).

WHEREAS, Choice and Employee desire to amend the Agreement as provided herein; 

NOW, THEREFORE, in consideration of the promises contained in this Amendment, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree to the following terms:
 
1.  Section 8 of the Agreement, entitled “Excise Tax”, is deleted in its entirety.
2.  Except as modified herein, all terms and conditions of the Agreement remain in full force and effect.

3.  This Amendment shall be governed and construed in accordance with the laws of the State of Maryland, without effect of its conflict of laws principles. 

4.  The Agreement and this Amendment constitute the entire agreement of the parties concerning their subject matters.  Each may only be modified by a written instrument signed by both parties.

IN WITNESS WHEREOF, the parties have executed this Amendment on the date first set forth above, intending to be legally bound.

CHOICE HOTELS INTERNATIONAL, INC.

	
		
	 
	/s/ Patrick Cimerola
 

	 
	Patrick Cimerola

	 
	Senior Vice President

	 
	 

	 
	/s/ Patrick Pacious 

	 
	Patrick PaciousQuickLinks
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  Exhibit 4.6    
    

 
    FOURTH SUPPLEMENTAL INDENTURE  
    

        This FOURTH SUPPLEMENTAL INDENTURE dated as of March 20, 2012, is between Interval Acquisition Corp., a Delaware corporation
(the "Issuer"), and The Bank of New York Mellon, a New York banking corporation, as Trustee (the "Trustee"). 

 
 

  RECITALS  
    

        WHEREAS, the Issuer and the Trustee entered into an Indenture dated August 19, 2008 (the "Indenture"), pursuant to which the
Issuer originally issued $300,000,000 in originally issued 9.5% Senior Notes due 2016 (the "Notes"); 

        WHEREAS,
Section 4.13 of the Indenture provides the method by which the Issuer may amend the Indenture to add a new Domestic Subsidiary as an additional Guarantor under the
Indenture; 

        WHEREAS,
the Issuer's subsidiary Management Acquisition Holdings, LLC (formerly known as TPI Acquisition Holdings, LLC, a Delaware limited liability company ("MAH")), and
acquired Vacation Resorts International, a California corporation ("VRI"), VRI-ORE, LLC, a Utah limited liability company ("VRI-ORE"), and Owners' Resorts and
Exchange, Inc., a Utah corporation ("ORE"), and each of VRI, VRI-ORE, and ORE is a Domestic Subsidiary under the Indenture; and 

        WHEREAS,
all acts and things prescribed by the Indenture and by law necessary to make this Fourth Supplemental Indenture a valid instrument legally binding on the Company and each
Domestic Subsidiary, in accordance with its terms, have been duly done and performed. 

        NOW,
THEREFORE, to comply with the provisions of the Indenture and in consideration of the mutual agreements hereinafter set forth, each Domestic Subsidiary and Trustee have agreed and
do hereby agree as follows: 

ARTICLE
1 

        Section 1.01
This Fourth Supplemental Indenture is supplemental to the Indenture and does and shall be deemed to form a part of, and shall be construed in connection with
and as part of, the Indenture for any and all purposes. 

        Section 1.02
This Fourth Supplemental Indenture shall become effective immediately upon its execution and delivery by each of the Company, each Domestic Subsidiary and the
Trustee. 

        Section 1.03
Except as specifically modified herein, the Indenture and the Notes are in all respects ratified and confirmed and shall remain in full force and effect in accordance
with their terms with all capitalized terms used herein without definition having the same respective meanings ascribed to them as in the Indenture. 

ARTICLE
2 

        Section 2.01
From this date, in accordance with Section 4.13 of the Indenture and by executing this Fourth Supplemental Indenture, each of VRI, VRI-ORE, and
ORE, will be a Domestic
Subsidiary and Guarantor under the Indenture, and subject to the provisions of the Indenture and as a Guarantor to the extent provided under Section 10 of the Indenture. 

        Section 2.02
VRI, VRI-ORE, and ORE, each jointly and severally, with the Guarantors, hereby unconditionally guarantees to each Holder all of Issuer's obligations under
the Notes and the Indenture on the terms set forth in the Indenture. 

        Section 2.03
THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS FOURTH SUPPLEMENTAL INDENTURE, THE INDENTURE, THE NOTES AND GUARANTEES WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPALS OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

 

        Section 2.04
The parties may sign any number of copies hereof. Each signed copy shall be an original, but all of them together represent the same instrument. 

        Section 2.05
The recitals and statements herein are deemed to be those of the Issuer, VRI, VRI-ORE, and ORE and not of the Trustee. The Trustee makes no
representations as to the validity or sufficiency of this Fourth Supplemental Indenture. 

        IN
WITNESS WHEREOF, the parties hereto have caused this Fourth Supplemental Indenture to be duly executed as of the day and year first above written. 

 

					
	 	 	INTERVAL ACQUISITION CORP., as the Issuer
	

 	
 	
 By:	
 	
/s/ JEANETTE E. MARBERT

  Jeanette E. Marbert, Executive Vice President and Chief Operating Officer

 

 

					
	 	 	THE BANK OF NEW YORK MELLON, as Trustee
	

 	
 	
 By:	
 	
/s/ SHERMA THOMAS

 
	 	 	Name:	 	/s/ SHERMA THOMAS

 
	 	 	Title:	 	Senior Associate

 
	

 	
 	
Acknowledged and Accepted

as of the date first written above:

 

 

					
	 	 	VACATION RESORTS INTERNATIONAL
	
 	
 	
 By:	
 	
/s/ JEANETTE E. MARBERT

  Jeanette E. Marbert, Executive Vice President
	

 	
 	
VRI-ORE, LLC
	

 	
 	
 By:	
 	
/s/ JEANETTE E. MARBERT

  Jeanette E. Marbert, Manager
	

 	
 	
OWNERS' RESORTS AND EXCHANGE, INC.
	

 	
 	
 By:	
 	
/s/ JEANETTE E. MARBERT

  Jeanette E. Marbert, Executive Vice President

 

 2

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Exhibit 4.6

FOURTH SUPPLEMENTAL INDENTURE

RECITALSQuickLinks
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  Exhibit 10.1    
    

 
    AMENDMENT
  TO
  AMENDED AND RESTATED CHIEF EXECUTIVE OFFICER
  CHANGE-IN-CONTROL SEVERANCE AGREEMENT    
    

        This Amendment (this "Amendment") to the Amended and Restated Chief Executive Officer Change-in-Control
Severance Agreement by and between EDWARDS LIFSCIENCES CORPORATION, a Delaware corporation (the "Company"), and MICHAEL A. MUSSALLEM (the "Executive") dated March 30, 2009, as amended
December 15, 2010 (the "Agreement"), is made, entered into, and effective as of March 28, 2012. 

        WHEREAS,
the Company and the Executive desire to modify the terms of Article 4 of the Agreement; 

        NOW
THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Executive,
intending to be bound, agree as follows: 

        1.     The
heading "Article 4. Excise Tax" on the Contents page shall be deleted and replaced with heading "Article 4. Benefit Limit;" and 

        2.     The
text of Article 4 of the Agreement shall be deleted in its entirety and replaced with the following: 

 Article 4. Benefit Limit  

        4.1    Benefit Limit.    In the event that any payments or benefits to which the Executive becomes entitled in
accordance with the provisions of this Agreement (or any other agreement with the Company) would otherwise constitute a parachute payment under Section 280G(b)(2) of the Code, then such
payments and/or benefits will be subject to reduction to the extent necessary to assure that the Executive receives only the greater of (i) the amount of those payments which would not
constitute such a parachute payment or (ii) the amount which yields the Executive the greatest after-tax amount of benefits after taking into account any excise tax imposed under
Section 4999 of the Code on the payments and benefits provided the Executive under this Agreement (or on any other payments or benefits to which the Executive may become entitled in connection
with any change in control or ownership of the Company or the subsequent termination of his or her employment with the Company). 

        4.2    Order of Reduction.    Should a reduction in benefits be required to satisfy the benefit limit of
Section 4.1, then the portion of any parachute payment otherwise payable in cash (other than pursuant to Section 2.3(f)) to the Executive shall be reduced to the extent necessary to
comply with such benefit limit. Should such benefit limit still be exceeded following such reduction, then the number of shares which would otherwise vest on an accelerated basis under each of the
Executive's options or other equity awards (based on the amount of the parachute payment attributable to each such option or equity award under Code Section 280G) shall be reduced to the extent
necessary to eliminate such excess, with such reduction to be made in the same chronological order in which those awards were made. If additional reductions are necessary, then the cash payment under
section 2.3(f) shall be reduced next, and finally the benefits under Section 2.3(g) shall be reduced to the extent necessary to satisfy the benefit limit of Section 4.1. 

        4.3    Resolution Procedures.    In the event there is any disagreement between the Executive and the Company as to
whether one or more payments or benefits to which the Executive becomes entitled constitute a parachute payment under Code Section 280G or as to the determination of the present value thereof,
such dispute will be resolved as follows:  

	(a)
	In
the event the Treasury Regulations under Code Section 280G (or applicable judicial decisions) specifically address the status of any such payment
or benefit or the method of valuation therefor, the characterization afforded to such payment or benefit by the Regulations (or such decisions) will, together with the applicable valuation
methodology, be controlling.

	(b)
	In
the event Treasury Regulations (or applicable judicial decisions) do not address the status of any payment in dispute, the matter will be submitted for
resolution to independent auditors selected and paid for by the Company. The resolution reached by the independent auditors will be final and controlling; provided, however, that if in the judgment of
the independent auditors, the status of the payment in dispute can be resolved through the obtainment of a private letter ruling from the Internal Revenue Service, a formal and proper request for such
ruling will be prepared and submitted by the independent auditors, and the determination made by the Internal Revenue Service in the issued ruling will be controlling. All expenses incurred in
connection with the preparation and submission of the ruling request shall be shared equally by the Executive and the Company.

	(c)
	In
the event Treasury Regulations (or applicable judicial decisions) do not address the appropriate valuation methodology for any payment in dispute, the
present value thereof will, at the independent auditor's election, be determined through an independent third-party appraisal, and the expenses incurred in obtaining such appraisal shall be shared
equally by the Executive and the Company. 

        IN
WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year above written. 

 

					
	Company:	 	Executive:
	

Edwards Lifesciences Corporation	
 	

 
	
 By:	
 	
/s/ Denise E. Botticelli

 	
 	
/s/ Michael A. Mussallem

  MICHAEL A. MUSSALLEM

 

 

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Exhibit 10.1

AMENDMENT TO AMENDED AND RESTATED CHIEF EXECUTIVE OFFICER CHANGE-IN-CONTROL SEVERANCE AGREEMENT

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