Document:

EMPLOYMENT AGREEMENT

     EMPLOYMENT  AGREEMENT (this "Agreement"),  dated as of November 1, 2001, is
by  and  between  Raintree    Resorts  International,  Inc.,  a  Nevada
corporation ("Employer"), and Robert L. Brewton ("Employee").

                              W I T N E S S E T H:

     A.   Employer desires to continue the services of Employee as its Executive
          Vice  President - Chief  Investment  Officer and continues and extends
          the Employment  Agreement dated as of January 1, 1999 between Employer
          and Employee.

     B.   Employer considers the employment of Employee pursuant to the terms of
          this  Agreement to be in the best interests of Employer and its equity
          holders to facilitate continuity of experienced  management and wishes
          to assure that Employee  serves Employer on an objective and impartial
          basis  and  without  distraction  or  conflict  of  interest  upon the
          potential   termination   of  Employee's   employment   under  certain
          circumstances.

     C.   Employee  is  willing,  on the terms  and  subject  to the  conditions
          provided  in  this  Agreement,   to  undertake  the   responsibilities
          contemplated  herein,  furnish services to Employer as provided herein
          and be subject to certain employment restrictions and obligations.

     D.   Undefined capitalized terms are defined in Section 8(a).

     NOW  THEREFORE,   in   consideration   of  the  premises,   the  covenants,
representations  and warranties  herein  contained and other good,  valuable and
binding  consideration,   the  receipt  and  sufficiency  of  which  are  hereby
acknowledged by the parties hereto, the parties hereby agree:

          1.  Employment  Term.  This Agreement shall commence as of November 1,
     2001  (the  "Commencement  Date")  and  shall  remain  in  effect  from the
     Commencement  Date  through  December  31,  2004 (the  "Employment  Term").
     Beginning on January 1, 2005,  and upon each  anniversary,  this  agreement
     will be automatically renewed and the Employment Term shall be extended for
     successive  one year periods  unless  terminated  by either the Employee or
     Employer by giving written notice of termination  not less than 120 days in
     advance of the renewal  date;  provided that there shall be no such renewal
     after the year in which Employee turns 63.

          2. Responsibilities and Authority. Employer hereby employs Employee to
     serve as Executive Vice President - Chief  Investment  Officer of Employer.
     During the  Employment  Term,  Employee  will have the  responsibility  and
     authority to administer  and  coordinate the activities of Employer and its
     subsidiaries  in accordance  with the policy  guidelines as  established by
     Employer's Chairman or Board.

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          3. Acceptance of Employment.  Employee accepts  employment by Employer
     on the terms and  conditions  herein  provided  and agrees,  subject to the
     terms of this Agreement, to devote all of his full business time to advance
     the business of Employer.

          4.  Compensation  and  Benefits.  As  compensation  for  his  services
     hereunder, Employee will be entitled to the following amounts.

               (a) Base Salary. Employee's current base cash salary of aggregate
          rate of US$282,000 per annum shall continue through the year 2002 (the
          "Base  Salary").  The Base Salary as in effect from time to time, will
          be paid in accordance with its Company's  customary payroll practices.
          The Base Salary shall not be reduced below US $250,000 per annum.

               (b) Bonus.  Employee will be entitled to participate in any bonus
          program   established  by  the  Employer's   Board,   the  amount  and
          determination  of  which  as  applicable  to  Employee  shall be fully
          discretionary by the Compensation Committee of Employer's Board.

               (c)  Benefits.  Employee will be entitled to receive the benefits
          (the "Benefits") listed on Schedule A.

               (d) Acceleration of Payments.

                    (i) Occurrence of Triggering Event. Upon the occurrence of a
               Triggering Event, Employee shall receive from Employer (i) a lump
               sum payment equal to two times his then annual Base Salary,  (ii)
               an  amount  equal to 75% of his then  Base  Salary in lieu of any
               Bonuses  whether  or not  earned or to be earned at the time of a
               Triggering  Event,  (iii) all stock options  granted to Employee,
               which shall automatically be vested at an exercise price equal to
               the lowest  exercise  or purchase  price of any then  outstanding
               stock  options or  warrants to purchase  Common  Stock  issued by
               Employer, (iv) an amount equal to three times the dollar value of
               all Benefits to be received by Employee on annual basis,  and (v)
               any  other  sums due  him.  Upon the  occurrence  of a change  of
               Control, Employer shall provide Employee with continued access to
               his offices and reasonable use of the office and items  specified
               in Exhibit A for a 30 day period.

                    (ii)  Time of  Payment.  All  accelerated  payments  of Base
               Salary, Bonuses and Benefits to Employee pursuant to this Section
               4(d) shall be paid by Employer as promptly as possible but in any
               event  prior  to or on the  effective  date  of  any  termination
               without cause within 30 days after Employee  provides notice of a
               Triggering Event.

                    (iii)  Reimbursement of Expenses.  Employee will be promptly
               reimbursed for Reimbursable Expenses.

               (e) Consideration.  Employee's  covenants contained in Sections 6
          and 7 are in return for the consideration Employee is to receive under
          Section 4(d).

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<PAGE>
               (f) Employer will provide all  compensation  and benefits  listed
          above.

          5.  Termination.  This Agreement may be terminated  upon the following
     term:

               (a)  Termination  Upon Death.  This Agreement will terminate upon
          the first day of the month  following  Employee's date of death during
          the  Employment  Term  and,  other  than  Benefits  and   Reimbursable
          Expenses, no further amounts will be due hereunder.

               (b)  Termination  Upon Total  Disability.  Employer may terminate
          this  Agreement  because of Total  Disability  upon at least 120 days'
          notice to Employee;  provided  that (i) Employer will pay Employee his
          Base Salary for one year from such notice, and (ii) Employer shall pay
          all  other  Benefits  and  Reimbursable  Expenses  owed  Employee  and
          continue such Benefits for an additional one year period.

               (c) Termination by Employer  Without Cause.  Termination  without
          Cause  shall  be  deemed  to be a Change  of  Control  constituting  a
          Triggering Event as defined in Section 8. If terminated  without Cause
          or  if  Employer's  Board  terminates  Employee's  services  as  Chief
          Investment Officer or otherwise  substantially reduced or curtails his
          responsibilities, power and authority to act in such capacity ("Deemed
          Termination Without Cause"), Employee shall be entitled to receive the
          payments specified in Section 4(d)(i).

               (d)  Termination  by  Employer  With  Cause.  Employer  shall  be
          entitled to  terminate  Employee's  employment  at any time for Cause.
          Upon such termination for Cause, all of Employee's rights and benefits
          provided for in this Agreement shall terminate immediately,  except as
          to any accrued and unpaid  Base  Salary  prorated  through the date of
          termination and any Benefits or amounts owed for Reimbursable Expenses
          incurred by Employee prior to such  termination.  Employee will not be
          deemed  to have  been  terminated  for  Cause  until  there  has  been
          delivered to him a termination notice by Employer's Board.

          6. Confidentiality and Solicitation.

               (a) Confidentiality.

                    (i) Confidentiality of Information.  Employee recognizes and
               acknowledges  that he will  have  access  to the  Trade  Secrets,
               access to and knowledge of which are essential to the performance
               of Employee's  duties  hereunder.  Employee will not,  during the
               term of his  employment  by  Employer or  thereafter,  either (A)
               disclose  such  Trade  Secrets  to any  Person  for any reason or
               purpose whatsoever, except on behalf of Employer for its business
               purposes  during the term of this  Agreement,  or (B) make use of
               any Trade  Secrets for his own purposes or for the benefit of any
               Person,  except to the extent  authorized by an agreement between
               Employer and any such Person.

                    (ii)  Return of  Confidential  Information.  All samples and
               copies of Trade Secrets  prepared or obtained by Employee  during
               his employment shall at all times be the property of Employer and
               Employee  shall  deliver  the same

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<PAGE>
               to Employer at any time upon Employer's request, and in any event
               shall  deliver the same to Employer upon the  termination  of his
               employment whether or not he has been requested to do so.

               (b)  Solicitation.  During  the  Employment  Term  and  one  year
          thereafter  if and  only  if  Employee  were  Terminated  with  Cause,
          Employee will not, and will cause his  affiliates to not,  directly or
          indirectly,  (i) solicit for employment by any Person,  its affiliates
          or anyone else,  any  employee or then  currently  active  independent
          contractor  of  Employer or its  affiliates,  or any person who was an
          employee or then currently active  independent  contractor of Employer
          or its affiliates,  within the six-month period immediately  preceding
          such  solicitation  of  employment,  other than such  person (a) whose
          employment or independent  contractor  relationship  was terminated by
          Employer or its  affiliate,  or (b) who  independently  responded to a
          general solicitation for employment by Employee or his affiliates;  or
          (ii)  induce  or  attempt  to  induce,  any  employee  or  independent
          contractor of Employer or its affiliates, to terminate such employee's
          employment   or   independent    contractor's    active    contractual
          relationship.

               (c)  Specific  Performance.  If there is a breach  or  threatened
          breach of the provisions of this Section 6, Employer shall be entitled
          to an injunction  restraining Employee from such breach,  without bond
          or other  security.  Nothing  herein shall be construed as prohibiting
          Employer  from  pursuing  any  other   remedies  for  such  breach  or
          threatened breach.

          7. Covenant Not to Compete.

               (a)  Non-Competition  Covenant.  In return for the  consideration
          described in Section 4, Employee agrees that he shall not for a period
          of one year from the  termination of his  employment  with Employer if
          and only if Employee were terminated with Cause, (the "Non-Competition
          Term") in any manner whatsoever,  either directly or indirectly,  with
          any Person in each case, within the Geographic Area:

                    (i) provide or offer to provide to any Person any  services,
               information  or other  assistance  relating  to the  business  of
               Employer  or of  any  of  its  affiliates  (as  of  the  date  of
               termination  of  Employee's  employment)  or with  respect to any
               customer,  client or prospective  customer or client, of Employer
               or of any of its  affiliates in each case,  within the Geographic
               Area;

                    (ii) own, operate,  engage in, participate in, or contribute
               to,  alone or as a partner,  joint  venture,  officer,  director,
               member,  employee,  consultant,  agent, independent contractor or
               stockholder of, or lender to, or in any other  capacity,  in each
               case, any real estate,  timeshare product, service or product, or
               other which is the same as, similar to, or competes with Employer
               or its  affiliate's  services or products or which  compete  with
               Employer or its affiliate's business;

                    (iii)  (A)  call  on  any  Acquisition  Candidate  with  the
               knowledge of such Acquisition Candidate's status as such, for the
               purpose of  acquiring,  or

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<PAGE>
               arranging the acquisition of, that  Acquisition  Candidate by any
               Person  other than  Employer  or its  affiliates,  (B) induce any
               Person  which is a customer  of  Employer  or its  affiliates  to
               patronize any business directly or indirectly in competition with
               the  business  conducted  by  Employer  or  its  affiliates;  (C)
               canvass, solicit or accept from any Person which is a customer of
               Employer or its affiliates, any such competitive business; or (D)
               request or advise any Person  which is a customer  of Employer or
               its  affiliates,   or  its  or  their  successors;   "Acquisition
               Candidate"   means  (I)  any  Person  engaged  in  the  Timeshare
               Business,  or the purchase or development of real estate with the
               purpose of engaging in the Timeshare Business or (II) any project
               with respect to the  Timeshare  Business,  and in either case (i)
               which was called on by Employer or its affiliates,  in connection
               with the possible  acquisition  by Employer or its  affiliates of
               that Person or project,  or (ii) with respect  which  Employer or
               its affiliates has made an acquisition analysis.

               (b) Employee agrees and understands  that Employer's  business is
          highly competitive and that Employer has invested considerable sums of
          money in developing real estate and timeshare properties and services,
          training programs, sales programs,  pricing and marketing formulas and
          programs,  and account records for the proper servicing of its clients
          and potential clients.

                  (c) Employee further agrees and understands that this covenant
         is necessary for the protection of Employer due to its legitimate
         interest in protecting its business goodwill and Trade Secrets.
         Employee further agrees and understands that, because of the legitimate
         interest of Employer in protecting its business goodwill and Trade
         Secrets as well as the extensive confidential information and special
         knowledge received by Employee from Employer, the restrictions
         enumerated in Section 7(a) are not oppressive and are, in fact,
         reasonable. Employee also agrees and understands that, due to the
         necessity of this covenant and the adequate consideration supporting
         it, this covenant does not prevent competition, and in fact, it
         encourages Employer to entrust Employee with Trade Secrets.

               (d) If a court  of  competent  jurisdiction  determines  that the
          scope of any  provision  of this Section 7 is too broad to be enforced
          as written,  the parties  intended that the court reform the provision
          to  such  narrower  scope  as  it  determines  to  be  reasonable  and
          enforceable.

               (e)  Employee  agrees that if he breaches  this  covenant he will
          submit to the  rendition  of a temporary  restraining  order,  without
          prior notice, and thereafter to a temporary and permanent  injunction.
          Further,  Employee agrees to the jurisdiction of an appropriate  court
          in Harris County, Texas, for the enforcement of this covenant.

          8. Miscellaneous.

               (a) Definitions. The following terms have the indicated meanings.

                    (i) Base Salary - defined in Section 4(a).

                    (ii) Cause -

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                         (A) the failure of Employee  to  substantially  perform
                    his  covenants and duties  described  herein (other than any
                    such failure resulting from Total Disability); provided that
                    Employee has been notified in writing of such failure and in
                    which  notice  the  specific  details of such  failures  are
                    provided to Employee  with  reasonable  and adequate time to
                    remedy the failures as specified; provided that in the event
                    the parties  cannot agree to a reasonable  time period,  the
                    period shall be 90 days;

                         (B) the  engaging by  Employee in willful,  reckless or
                    grossly negligent  misconduct which is materially  injurious
                    to  Employer  or  any  of  its  affiliates,   monetarily  or
                    otherwise;

                         (C) the misappropriation of Employer funds;

                         (D)  Employee's  commission  of an act  of  dishonesty,
                    affecting  Employer or its affiliates,  or the commission of
                    an act constituting common law fraud or a felony; or

                         (E) A determination of "Cause" shall require Employee's
                    Board of Directors to make such a determination at a Regular
                    Meeting or Special  Meeting  held for such purpose by a vote
                    of two-thirds of the disinterested Directors.

                    (iii) Change of Control - is deemed to have  occurred (A) if
               any "person" as such term is used in Sections  13(d) and 14(d) of
               the  Securities  Exchange Act of 1934,  as then in effect,  is or
               becomes  the  "beneficial  owner" as defined in Rule 13d-3  under
               such Act,  directly  or  indirectly,  of  securities  of Employer
               representing  50%  or  more  of  the  combined  voting  power  of
               Employer's then outstanding equity securities,  (B) if any Change
               of  Control  as  defined  in the  Option  Agreement  dated  as of
               December 1, 1998 between the Company and Employee occurs,  or (C)
               the date on which Employer's Board terminates Employee's services
               as Chief Investment Officer or otherwise substantially reduces or
               curtails his responsibilities, power and authority to act in such
               capacity ("Deemed Termination Without Cause").

                    (iv) Geographic Area - the geographic  market areas (and the
               specific countries and states located therein) of Employer or its
               affiliates in which  Employer is conducting  business at the time
               of the expiration of Employee's  employment  with Employer or its
               affiliates,   specifically  including,  without  limitation,  the
               United Mexican States.

                    (v)   Person  -  a  natural   person,   firm,   corporation,
               association,  partnership (general or limited), limited liability
               corporation, syndicate, governmental body, or any other entity.

                    (vi)  Reimbursable   Expenses  -  all  properly  documented,
               reasonable and necessary  expenses incurred by Employee on behalf
               of and in connection with the business of Employer.

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                    (vii)  Termination  Notice - notice under  Sections  1(a) or
               1(b).

                    (viii)  Total  Disability  - illness  or other  physical  or
               mental  disability of Employee  which shall continue for a period
               of at least 60  consecutive  days or four months in the aggregate
               during any 12-month period during the Employment Term, which such
               illness or disability  shall make it impossible or  impracticable
               for  Employee to perform  any of his duties and  responsibilities
               hereunder.

                    (ix)  Timeshare  Business  -  the  business  of  purchasing,
               developing,  marketing,  selling and financing timeshare vacation
               intervals.

                    (x) Trade Secrets - Employer and its affiliates' proprietary
               or  confidential  information,  including  but not limited to the
               following: trade secret information,  ideas, concepts,  software,
               designs,  drawings,   techniques,  models,  data,  documentation,
               research,    development,    processes,    procedures,   business
               acquisition  or   disposition   plans,   "know  how,"   marketing
               techniques  and  materials,   marketing  and  development  plans,
               customer names and other information related to customers,  price
               lists, pricing policies, details of customer, distributor, agency
               or  consultant  contracts,  financial  information  and any other
               information  relating to the business,  customers,  trade,  trade
               secrets or  industrial  practices  of  Employer;  provided  that,
               "Trade  Secrets" shall not include  information  that: (A) at the
               time  of  disclosure  is in  the  public  domain;  or  (B)  after
               disclosure is published or otherwise becomes a part of the public
               domain  through no act or omission of Employee or his  affiliates
               (but only after, and only to the extent that, such information is
               published or otherwise becomes part of the public domain).

                    (xi) Triggering Event. - Following a Change of Control,  (A)
               if Employee  terminates  employment with Employer within nine (9)
               months after such Change of Control;  (B) the actual  termination
               of this  Agreement by Employer  without  Cause;  or (C) except as
               expressly  provided  herein,  Employer's  refusal  to renew  this
               Agreement  for any  one-year  term for any reason,  in each case,
               other than:

                         (1) Employee's  voluntary  termination other than under
                    proviso (A) above;

                         (2) Termination of employment for Cause; or

                         (3)  Termination of employment  upon the death or Total
                    Disability.

               (b)  Severability.  To the  extent  that  any  provision  of this
          Agreement  may be deemed or  determined  to be  unenforceable  for any
          reason,  such  unenforceability  shall not  impair or affect any other
          provision, and this Agreement shall be interpreted so as to most fully
          give effect to its terms and still be enforceable.

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               (c) Scope of Agreement.  This Agreement  constitutes the whole of
          the agreement  between the parties on the subject matter,  superseding
          all   prior   oral   and    written    conversations,    negotiations,
          understandings,  and  agreements  in  effect  as of the  date  of this
          Agreement.

               (d)  Notices.  Any  notice or request  to be given  hereunder  to
          either party hereto shall be deemed  effective  only if in writing and
          either (i)  delivered  personally to Employee (in the case of a notice
          to Employee) or to the Board of Employer, or (ii) sent by certified or
          registered mail,  postage  prepaid,  to the addresses set forth on the
          signature  page  hereof or to such other  address as either  party may
          hereafter specify to the other by notice similarly served.

               (e) Assignment.  This Agreement and the rights and obligations of
          the parties  hereto shall bind and inure to the benefit of each of the
          parties  hereto,  and  shall  also bind and  inure to the  benefit  of
          Employee's  heirs  and  legal  representatives  and any  successor  or
          successors of Employer by merger or consolidation  and any assignee of
          all or substantially all of Employer's business and properties; except
          as to any  such  successor  or  assignee  of  Employer,  neither  this
          Agreement nor any duties, rights or benefits hereunder may be assigned
          by  Employer or by Employee  without  the express  written  consent of
          Employee or Employer, as the case may be.

               (f) Governing Law,  Construction  and Submission to Jurisdiction.
          This Agreement  shall be construed and enforced in accordance with the
          laws of the  State of Texas  without  reference  to its  choice-of-law
          principles.  Each party  hereto  has had  adequate  opportunity  to be
          represented  by qualified  counsel and,  accordingly,  this  Agreement
          shall  not be  interpreted  against  either  party.  If any  action is
          brought to enforce or interpret this Agreement,  venue for such action
          will be in Harris County,  Texas. In the event that Employee shall not
          be paid by Employer any payments  required  hereunder as a result of a
          Change of Control,  Employee  shall be entitled to bring an action for
          such  purpose in Harris  County,  Texas and if it is proven that he is
          entitled  to  such   payments  he  shall  be  entitled  to  reasonable
          attorney's  fees and expenses as well as  additional  damages equal to
          his Base  Salary for the  period in which the  action is  pending  and
          unresolved.

               (g)  Modification.  No amendment,  modification  or waiver of any
          provision  hereof  shall be made unless it is in writing and signed by
          both of the parties hereto.

               (h) Termination of Prior Agreements.  When this Agreement becomes
          effective it shall supersede all prior  arrangements or understandings
          concerning Employee's employment by Employer or Employer.

               (i)  Headings.  The  headings  in this  Agreement  are solely for
          convenience of reference and shall not affect its interpretation.

               (j) No Waiver.  No failure on the part of any party hereto at any
          time to require the performance by any other party of any term of this
          Agreement shall be taken or held to be a waiver of such term or in any
          way affect such party's  right to enforce such term,  and no waiver on
          the part of either party of any term of this Agreement  shall be taken
          or held to be a waiver of any other term hereof or the breach thereof.

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<PAGE>

               (k)  Counterparts.  This  Agreement  may be  executed in separate
          counterparts,  each of which when so executed shall be an original but
          all of such  counterparts  shall  together  constitute but one and the
          same instrument.

                          [NEXT PAGE IS SIGNATURE PAGE]

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         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first above written.

                                 RAINTREE RESORTS INTERNATIONAL, INC.

                                 By: /s/ Douglas Y. Bech
                                    -----------------------------------
                                            Douglas Y. Bech
                                               Chairman

                                Robert L. Brewton

                                By:  /s/ Robert L. Brewton
                                    ----------------------------------
                                       Name:  Robert L. Brewton,
                                                Personally

<PAGE>

                                   Schedule A

1.   Three weeks annual vacation which shall not accrue from year to year.

2.   Reasonable  use of office  supplies,  computers,  copying and fax machines,
     telephones and secretarial services.

3.   Medical insurance fully paid for Employee and Employee's family pursuant to
     the Employer's plan and $2,400 per year towards Employer's plan deductible
     and health/medical expenses not covered by the Plan.

4.   Payment of dues of $2,400 per month for automobile expenses,  club dues and
     usage and other discretionary expenses of Employee's choice.EMPLOYMENT AGREEMENT

         EMPLOYMENT AGREEMENT (this "Agreement"), dated as of November 1, 2001,
is by and between Raintree Resorts International, Inc., a Nevada corporation
("Employer"), and Bruce S. MacIntire ("Employee").

                              W I T N E S S E T H:

         A.       Employer desires to continue the services of Employee as its
                  Senior Vice President - Resorts Development and continues and
                  extends the Employment Agreement dated as of October 16, 1998
                  between Employer and Employee.

         B.       Employer considers the employment of Employee pursuant to the
                  terms of this Agreement to be in the best interests of
                  Employer and its equity holders to facilitate continuity of
                  experienced management and wishes to assure that Employee
                  serves Employer on an objective and impartial basis and
                  without distraction or conflict of interest upon the potential
                  termination of Employee's employment under certain
                  circumstances.

         C.       Employee is willing, on the terms and subject to the
                  conditions provided in this Agreement, to undertake the
                  responsibilities contemplated herein, furnish services to
                  Employer as provided herein and be subject to certain
                  employment restrictions and obligations.

         D.       Undefined capitalized terms are defined in Section 8(a).
                                                             ------------

         NOW THEREFORE, in consideration of the premises, the covenants,
representations and warranties herein contained and other good, valuable and
binding consideration, the receipt and sufficiency of which are hereby
acknowledged by the parties hereto, the parties hereby agree:

     1.  Employment  Term.  This Agreement shall commence as of November 1, 2001
(the "Commencement  Date") and shall remain in effect from the Commencement Date
through December 31, 2004 (the "Employment Term"). Beginning on January 1, 2005,
and upon each anniversary,  this agreement will be automatically renewed and the
Employment  Term  shall be  extended  for  successive  one year  periods  unless
terminated  by either the  Employee  or  Employer  by giving  written  notice of
termination not less than 120 days in advance of the renewal date; provided that
there shall be no such renewal after the year in which Employee turns 63.

     2.  Responsibilities  and Authority.  Employer  hereby employs  Employee to
serve as Senior Vice President of Employer. During the Employment Term, Employee
will have the  responsibility  and authority to administer  and  coordinate  the
activities of Employer and its subsidiaries  relating to the Resorts Development
in accordance with the policy  guidelines as established by Employer's  Chairman
or Board.

<PAGE>

     3. Acceptance of Employment. Employee accepts employment by Employer on the
terms and conditions  herein  provided and agrees,  subject to the terms of this
Agreement,  to devote all of his full  business  time to advance the business of
Employer.  Without Employer's  Board's approval,  Employee will not serve on the
Board of Directors of any  non-affiliate  of Employer that is not  controlled by
Employee's family.

     4. Compensation and Benefits.  As compensation for his services  hereunder,
Employee will be entitled to the following amounts.

          (a) Base Salary. Employee's current base cash salary of aggregate rate
     of US$203,000.00 per annum shall continue through the year 2002. (the "Base
     Salary").  The Base Salary as in effect from time to time,  will be paid in
     accordance with its Company's customary payroll practices.  The Base Salary
     shall not be reduced below US $180,000 per annum.

          (b) Bonus.  Employee  will be  entitled  to  participate  in any bonus
     program  established by the Employer's  Board, the amount and determination
     of  which as  applicable  to  Employee  shall  be  fully  discretionary  by
     Compensation Committee of Employer's Board.

          (c)  Benefits  and  Productivity  Aids.  Employee  will be entitled to
     receive the  benefits  (the  "Benefits")  listed on  Schedule  A.

          (d) Beneficiaries.  Employee will have the absolute right to designate
     the  beneficiaries  to receive the  proceeds,  if any, of all Benefits upon
     Employee's death.

          (e) Acceleration of Payments.

               (i)  Occurrence of  Triggering  Event.  Upon the  occurrence of a
          Triggering Event,  Employee shall receive from Employer (i) a lump sum
          payment  equal to one times his Base Salary and (ii)  earned  Bonuses,
          any vested stock options and any other sums due him.

               (ii) Time of Payment.  All  accelerated  payments of Base Salary,
          Bonuses and  Benefits to Employee  pursuant to this Section 4(e) shall
          be paid as promptly as possible  but in any event within 30 days after
          Employee provides notice of a Triggering Event.

               (iii)  Reimbursement  of  Expenses.  Employee  will  be  promptly
          reimbursed for Reimbursable Expenses.

          (f) Consideration.  Employee's covenants contained in Sections 6 and 7
     are in return for the  consideration  Employee is to receive  under Section
     4(e).

          (g) Employer will provide all compensation and benefits listed above.

     5. Termination. This Agreement may be terminated upon the following terms:

                                       2
<PAGE>

          (a)  Termination  Upon Death.  This  Agreement will terminate upon the
     first  day of the  month  following  Employee's  date of death  during  the
     Employment  Term and,  other than Benefits and  Reimbursable  Expenses,  no
     further amounts will be due hereunder.

          (b)  Termination  Upon Total  Disability.  Employer may terminate this
     Agreement  because  of Total  Disability  upon at least 30 days'  notice to
     Employee;  provided that (i) Employer will pay Employee his Base Salary for
     the  lesser  of (A)  period  from such  notice  until the date on which the
     disability benefits contemplated by the Benefits begin accruing and (B) 120
     days from such notice,  and (ii) Employer  shall pay all other Benefits and
     Reimbursable Expenses owed Employee.

          (c)  Termination  by Employer  Without  Cause.  If terminated  without
     Cause, Employee shall be entitled to receive six months Base Salary.

          (d) Termination by Employer With Cause.  Employer shall be entitled to
     terminate   Employee's   employment  at  any  time  for  Cause.  Upon  such
     termination for Cause, all of Employee's  rights and benefits  provided for
     in this Agreement shall terminate immediately, except as to any accrued and
     unpaid  Base  Salary  prorated  through  the  date of  termination  and any
     Benefits or amounts  owed for  Reimbursable  Expenses  incurred by Employee
     prior  to such  termination.  Employee  will  not be  deemed  to have  been
     terminated  for Cause until there has been  delivered to him a  termination
     notice by Employer's Board.

     6. Confidentiality and Solicitation.

          (a) Confidentiality.

               (i)  Confidentiality  of  Information.  Employee  recognizes  and
          acknowledges that he will have access to the Trade Secrets,  access to
          and knowledge of which are essential to the  performance of Employee's
          duties hereunder. Employee will not, during the term of his employment
          by Employer or  thereafter,  either (A) disclose such Trade Secrets to
          any Person for any reason or purpose  whatsoever,  except on behalf of
          Employer for its business  purposes during the term of this Agreement,
          or (B) make use of any Trade  Secrets for his own  purposes or for the
          benefit of any Person, except to the extent authorized by an agreement
          between Employer and any such Person.

               (ii) Return of Confidential  Information.  All samples and copies
          of  Trade  Secrets   prepared  or  obtained  by  Employee  during  his
          employment shall at all times be the property of Employer and Employee
          shall  deliver  the  same to  Employer  at any  time  upon  Employer's
          request,  and in any event shall deliver the same to Employer upon the
          termination of his employment  whether or not he has been requested to
          do so.

          (b)   Solicitation.   During  the  Employment  Term  and  three  years
     thereafter,  Employee  will  not,  and will  cause his  affiliates  to not,
     directly  or  indirectly,  (i) solicit

                                       3
<PAGE>
     for  employment by any Person,  its affiliates or anyone else, any employee
     or  then  currently  active  independent  contractor  of  Employer  or  its
     affiliates,  or any person who was an  employee  or then  currently  active
     independent  contractor of Employer or its affiliates,  within the one year
     period  immediately  preceding such  solicitation  of  employment;  or (ii)
     induce or attempt to induce,  any  employee or  independent  contractor  of
     Employer or its  affiliates,  to terminate  such  employee's  employment or
     independent contractor's active contractual relationship.

          (c) Specific Performance. If there is a breach or threatened breach of
     the  provisions  of this  Section  6,  Employer  shall  be  entitled  to an
     injunction  restraining  Employee  from such breach,  without bond or other
     security.  Nothing herein shall be construed as  prohibiting  Employer from
     pursuing any other remedies for such breach or threatened breach.

     7. Covenant Not to Compete.

                  (a) Non-Competition Covenant. In return for the consideration
         described in Section 4, Employee agrees that he shall not for a period
         of three years from the termination of his employment with Employer
         (the "Non-Competition Term") in any manner whatsoever, either directly
         or indirectly, with any Person in each case, within the Geographic
         Area:

                    (i) provide or offer to provide to any Person any  services,
               information  or other  assistance  relating  to the  business  of
               Employer  or of  any  of  its  affiliates  (as  of  the  date  of
               termination  of  Employee's  employment)  or with  respect to any
               customer,  client or prospective  customer or client, of Employer
               or of any of its  affiliates in each case,  within the Geographic
               Area;

                    (ii) own, operate,  engage in, participate in, or contribute
               to, alone or as a partner,  joint  venturer,  officer,  director,
               member,  employee,  consultant,  agent, independent contractor or
               stockholder of, or lender to, or in any other  capacity,  in each
               case, any real estate,  timeshare product, service or product, or
               other which is the same as, similar to, or competes with Employer
               or its  affiliate's  services or products or which  compete  with
               Employer or its affiliate's business;

                    (iii)  (A)  call  on  any  Acquisition  Candidate  with  the
               knowledge of such Acquisition Candidate's status as such, for the
               purpose of  acquiring,  or  arranging  the  acquisition  of, that
               Acquisition  Candidate by any Person  other than  Employer or its
               affiliates, (B) induce any Person which is a customer of Employer
               or  its   affiliates  to  patronize  any  business   directly  or
               indirectly in competition with the business conducted by Employer
               or its affiliates; (C) canvass, solicit or accept from any Person
               which is a  customer  of  Employer  or its  affiliates,  any such
               competitive  business;  or (D) request or advise any Person which
               is a customer  of  Employer  or its  affiliates,  or its or their
               successors;  "Acquisition Candidate" means (I) any Person engaged
               in the

                                       4
<PAGE>
               Timeshare Business, or the purchase or development of real estate
               with the purpose of engaging  in the  Timeshare  Business or (II)
               any project with respect to the Timeshare Business, and in either
               case (i) which was called on by  Employer or its  affiliates,  in
               connection  with the  possible  acquisition  by  Employer  or its
               affiliates of that Person or project,  or (ii) with respect which
               Employer or its affiliates has made an acquisition analysis; or

                    (iv) directly or indirectly  employ, or knowingly permit any
               Person, directly or indirectly, controlled by him, to employ, any
               Person who was  employed  by  Employer  or its  affiliates  at or
               within the prior one year.

          (b) Employee agrees and understands that Employer's business is highly
     competitive  and that Employer has invested  considerable  sums of money in
     developing  real estate and timeshare  properties  and  services,  training
     programs, sales programs,  pricing and marketing formulas and programs, and
     account  records for the proper  servicing  of its  clients  and  potential
     clients.

          (c) Employee  further  agrees and  understands  that this  covenant is
     necessary for the protection of Employer due to its legitimate  interest in
     protecting its business goodwill and Trade Secrets. Employee further agrees
     and  understands  that,  because of the legitimate  interest of Employer in
     protecting its business goodwill and Trade Secrets as well as the extensive
     confidential  information and special  knowledge  received by Employee from
     Employer,  the  restrictions  enumerated in Section 7(a) are not oppressive
     and are, in fact,  reasonable.  Employee also agrees and understands  that,
     due to the  necessity  of  this  covenant  and the  adequate  consideration
     supporting it, this covenant does not prevent competition,  and in fact, it
     encourages Employer to entrust Employee with Trade Secrets.

          (d) If a court of competent jurisdiction  determines that the scope of
     any provision of this Section 7 is too broad to be enforced as written, the
     parties intended that the court reform the provision to such narrower scope
     as it determines to be reasonable and enforceable.

          (e) Employee  agrees that if he breaches  this covenant he will submit
     to the rendition of a temporary  restraining  order,  without prior notice,
     and thereafter to a temporary and permanent injunction.  Further,  Employee
     agrees to the jurisdiction of an appropriate court in Harris County, Texas,
     for the enforcement of this covenant.

                                      5
<PAGE>
     8. Miscellaneous.

          (a) Definitions. The following terms have the indicated meanings.

               (i) Base Salary - defined in Section 4(a).

               (ii) Cause -

                    (A) the  failure of Employee  to  substantially  perform his
               covenants  and  duties  described  herein  (other  than  any such
               failure resulting from Total Disability);

                    (B) the engaging by Employee in willful, reckless or grossly
               negligent misconduct which is materially injurious to Employer or
               any of its affiliates, monetarily or otherwise;

                    (C) the misappropriation of Employer funds;

                    (D) Employee's commission of an act of dishonesty, affecting
               Employer  or  its  affiliates,   or  the  commission  of  an  act
               constituting common law fraud or a felony; or

                    (E)  Employee  shall  resign  or  otherwise   terminate  his
               employment  with  Employer  for any  reason  other than by mutual
               written agreement with Employer.

               (iii)  Change of  Control - is  deemed  to have  occurred  if any
          "person"  as such  term is used in  Sections  13(d)  and  14(d) of the
          Securities  Exchange  Act of 1934,  as then in  effect,  other  than a
          shareholder or its  beneficiary on the date hereof or any "person" who
          on the date of determination is a Director or Officer of Employer,  is
          or becomes the "beneficial  owner" as defined in Rule 13d-3 under such
          Act,  directly or indirectly,  of securities of Employer  representing
          51%  or  more  of  the  combined   voting  power  of  Employer's  then
          outstanding equity securities.

               (iv)  Geographic  Area - the  geographic  market  areas  (and the
          specific  countries  and states  located  therein)  of Employer or its
          affiliates in which Employer is conducting business at the time of the
          expiration of Employee's employment with Employer or its affiliates.

               (v) Person - a natural person,  firm,  corporation,  association,
          partnership  (general  or  limited),  limited  liability  corporation,
          syndicate, governmental body, or any other entity.

               (vi) Reimbursable Expenses - all properly documented,  reasonable
          and  necessary  expenses  incurred  by  Employee  on  behalf of and in
          connection with the business of Employer.

                                       6
<PAGE>
               (vii) Termination Notice - notice under Sections 1(a) or 1(b).

               (viii)  Total  Disability  - illness or other  physical or mental
          disability of Employee  which shall  continue for a period of at least
          45  consecutive  days or three  months  in the  aggregate  during  any
          12-month  period  during the  Employment  Term,  which such illness or
          disability shall make it impossible or  impracticable  for Employee to
          perform any of his duties and responsibilities hereunder.

               (ix) Timeshare Business - the business of purchasing, developing,
          marketing, selling and financing timeshare vacation intervals.

               (x) Trade Secrets - Employer and its  affiliates'  proprietary or
          confidential information,  including but not limited to the following:
          trade  secret  information,   ideas,  concepts,   software,   designs,
          drawings,   techniques,   models,   data,   documentation,   research,
          development,    processes,   procedures,   business   acquisition   or
          disposition  plans,  "know how,"  marketing  techniques and materials,
          marketing and development plans,  customer names and other information
          related  to  customers,  price  lists,  pricing  policies,  details of
          customer,  distributor,  agency  or  consultant  contracts,  financial
          information  and  any  other  information  relating  to the  business,
          customers,  trade, trade secrets or industrial  practices of Employer;
          provided that, "Trade Secrets" shall not include information that: (A)
          at the  time of  disclosure  is in the  public  domain;  or (B)  after
          disclosure  is  published  or  otherwise  becomes a part of the public
          domain through no act or omission of Employee or his  affiliates  (but
          only after, and only to the extent that, such information is published
          or otherwise  becomes  part of the public  domain).  In addition,  any
          combination  of  features   disclosed  in  the  course  of  Employee's
          employment  shall not be deemed to be  within  the  exceptions  listed
          above merely because individual  features are separately in the public
          domain or in a Person's possession, but shall be within the exceptions
          only if the  combination  itself and its principle of operation are in
          the  public  domain or in a Person's  possession  as  provided  in the
          exceptions listed above.

               (xi)  Triggering  Event.  -  Following a Change of Control (A) if
          Employee   terminates   employment  with  Employer;   (B)  the  actual
          termination of this Agreement by Employer;  or (C) except as expressly
          provided  herein,  Employer's  refusal to renew this Agreement for any
          one-year term for any reason, in each case, other than:

                    (1) Employee's voluntary termination;

                    (2) Termination of employment for Cause; or

                                       7
<PAGE>

                    (3)  Termination  of  employment  upon  the  death  or Total
               Disability.

          (b)  Severability.  To the extent that any provision of this Agreement
     may be  deemed or  determined  to be  unenforceable  for any  reason,  such
     unenforceability  shall not impair or affect any other provision,  and this
     Agreement shall be interpreted so as to most fully give effect to its terms
     and still be enforceable.

          (c) Scope of Agreement.  This Agreement  constitutes  the whole of the
     agreement between the parties on the subject matter,  superseding all prior
     oral  and  written   conversations,   negotiations,   understandings,   and
     agreements in effect as of the date of this Agreement.

          (d)  Notices.  Any notice or request to be given  hereunder  to either
     party hereto shall be deemed  effective  only if in writing and either ((i)
     delivered  personally  to Employee (in the case of a notice to Employee) or
     to the Board of Employer,  or (ii) sent by certified  or  registered  mail,
     postage prepaid, to the addresses set forth on the signature page hereof or
     to such other address as either party may hereafter specify to the other by
     notice similarly served.

          (e)  Assignment.  This Agreement and the rights and obligations of the
     parties  hereto  shall bind and inure to the benefit of each of the parties
     hereto,  and shall also bind and inure to the benefit of  Employee's  heirs
     and legal  representatives  and any  successor or successors of Employer by
     merger or  consolidation  and any assignee of all or  substantially  all of
     Employer's  business  and  properties;  except as to any such  successor or
     assignee of Employer,  neither  this  Agreement  nor any duties,  rights or
     benefits  hereunder may be assigned by Employer or by Employee  without the
     express written consent of Employee or Employer, as the case may be.

          (f) Governing Law,  Construction and Submission to Jurisdiction.  This
     Agreement  shall be construed and enforced in  accordance  with the laws of
     the State of Texas without reference to its choice-of-law principles.  Each
     party hereto has had adequate  opportunity  to be  represented by qualified
     counsel and,  accordingly,  this Agreement shall not be interpreted against
     either  party.  If any  action is brought  to  enforce  or  interpret  this
     Agreement, venue for such action will be in Harris County, Texas.

          (g)  Modification.  No  amendment,   modification  or  waiver  of  any
     provision  hereof  shall be made unless it be in writing and signed by both
     of the parties hereto.

          (h)  Termination  of Prior  Agreements.  When this  Agreement  becomes
     effective  it shall  supersede  all prior  arrangements  or  understandings
     concerning Employee's employment by Employer or Employer.

          (i)  Headings.   The  headings  in  this   Agreement  are  solely  for
     convenience of reference and shall not affect its interpretation.

                                       8
<PAGE>
          (j) No Waiver.  No failure on the part of any party hereto at any time
     to require the performance by any other party of any term of this Agreement
     shall be taken or held to be a  waiver  of such  term or in any way  affect
     such  party's  right to  enforce  such  term,  and no waiver on the part of
     either party of any term of this  Agreement  shall be taken or held to be a
     waiver of any other term hereof or the breach thereof.

          (k)   Counterparts.   This  Agreement  may  be  executed  in  separate
     counterparts,  each of which when so executed  shall be an original but all
     of such  counterparts  shall  together  constitute  but  one  and the  same
     instrument.

                          [NEXT PAGE IS SIGNATURE PAGE]

                                      9
<PAGE>
         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first above written.

                                           RAINTREE RESORTS INTERNATIONAL, INC.

                                           By: /S/ Douglas y Bech
                                              ----------------------------------
                                                     Douglas Y. Bech
                                                        Chairman

                                           BRUCE S. MACINTIRE

                                           By: /S/ Bruce MacIntire
                                              ----------------------------------
                                               Name:   Bruce S. MacIntire,
                                                      personally

                                       10
<PAGE>

                                   Schedule A

1.   Two weeks annual vacation which shall not accrue from year to year.

2.   Life insurance in the amount of two times Base Salary.

3.   Disability insurance for Employee pursuant to Employer's plan.

4.   Medical  insurance  for  Employee  and  Employee's  family  pursuant to the
     Employer's plan.

5.   Reasonable  use of office  supplies,  computers,  copying and fax machines,
     telephones and secretarial services.

6.   Reasonable  membership dues for one airline club of Employee's choice and a
     corporate  American  Express  card for  corporate  travel and other  proper
     business  purposes  which shall also provide for  membership in one or more
     airline clubs.

7.   If terminated pursuant to Sections 4(e)(i) or 5(c),  reasonable expenses of
     reasonable and customary outplacement services not to exceed $5,000.

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