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This excerpt taken from the WYN 8-K filed Jul 19, 2006. Non-Employee Directors Deferred Compensation Plan We intend to adopt a deferred compensation plan for the benefit of our non-employee directors which will facilitate the deferral of all or a portion of certain fees they receive from us for service on our Board. See “—Board of Directors’ Compensation.” In connection with our separation, we expect that the deferred compensation obligations of Wyndham Worldwide non-employee directors under Cendant’s deferred compensation plan will become our obligations under our deferred compensation plan. We also expect to enter into an arrangement whereby we and each of the other separated companies, other than Avis Budget Group, Inc. and other than Travelport (if it is sold), will guarantee each other’s obligations (including Avis Budget Group, Inc.’s, but not Travelport’s if it is sold) under the applicable company’s respective non-employee director deferred compensation plans for amounts deferred in respect of 2005 and earlier years. |
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