Avis 2009 Annual Report Download - page 152

Mr. Thomas Gartland
December 19, 2008
Page Three
Section 409A. Any payments described in this Agreement that are paid pursuant to a “separation pay plan” as described in Treas. Reg. 1.409A-l
(b)(9)(iii) or that are due within the “short term deferral period” as defined in Section 409A shall not be treated as deferred compensation unless
applicable law requires otherwise. Notwithstanding anything contained herein, to the extent required in order to avoid accelerated taxation and/or
tax penalties under Section 409A amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this letter
(or any other plan or agreement of the Company proving you with payments or benefits upon your separation from service) during the six-
month
period immediately following your separation from service shall instead be paid or provided on the first business day after the date that is six
months following your separation date (or death, if earlier).
The by-laws of the Company provide that officers will be indemnified for their authorized actions on behalf of our Company to the fullest extent
permitted under applicable law.
This severance pay as set forth in this letter is in lieu of and supersedes any other severance benefits otherwise payable to you under any other
agreement or severance plan of ABCR or its affiliates.
Regards,
/s/ Mark J. Servodidio
12/30/08
Mark J. Servodidio
Executive Vice President
–
Human Resources
Understood and accepted:
/s/ Thomas Gartland
Thomas Gartland
12/18/08
Date