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This excerpt taken from the PCLN 8-K filed Feb 7, 2005. Chris Soder. On February 7, 2005, the Company and Chris
Soder, the Companys Executive Vice President, Lodging and Vacation Products,
executed an employment agreement, the material terms of which are summarized
below. The employment agreement replaces
and supercedes all prior agreements between the Company and Mr. Soder.
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