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Vail Resorts Inc. Message Board

  • hooter96158 hooter96158 Nov 20, 2002 6:04 PM Flag

    Cool Deal for Heavenly COO

    Vail Resorts was cutting expenses and bonuses while............

    From the Definitive Proxy Statement filed
    11/15/2002 with the SEC

    "In connection with the employment of Blaise Carrig as Chief Operating Officer of Heavenly Ski Resort, Heavenly Valley Limited Partnership ("Heavenly LP"), Heavenly LP agreed to invest up to $600,000, but not to exceed 50% of the purchase price, for the purchase of a residence for Mr. Carrig and his family in the greater Lake Tahoe area of California. The Company contributed $449,500 toward the purchase price of the residence and thereby obtained an approximate 50% undivided ownership interest in such residence. Upon the resale of the residence, or within approximately eighteen (18) months of the termination of Mr. Carrig's employment with Heavenly LP, whichever is earlier, Heavenly LP is entitled to receive its proportionate share of the resale price of the residence, less certain deductions."

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