Contract analysis

I. Background — Investigation Context As you are aware, the Audit Committee of the Board of Directors of VHG — chaired by Diane Kowalski and comprised of members Reginald Faulkner and Sandra Yeung — opened an internal investigation on July 24, 2023, concerning expense-reporting irregularities and premature revenue-recognition practices at VCR and certain of its managed properties. In connection therewith, Calderwood

II. Grounds for Termination A. Premature Revenue-Recognition Practices The investigation determined that Mr. Daskine directed the premature recognition of timeshare-interest purchase deposits as completed-sale revenue at VCR-managed properties, including, without limitation, Coral Dune Resort & Residences, located at 14200 Emerald Coast Parkway, Destin, Florida 32541, and Palmetto Bluff Club, located at 3950 Longboat

III. Formal Notice of Termination for Cause Based on the foregoing findings of the investigation, VHG has determined, upon the recommendation of the Audit Committee of the Board of Directors, to terminate Mr. Daskine's employment as Division President of VCR for cause, effective as of December 18, 2023. The termination for cause is based upon, among other things: (i) Mr. Daskine's direction of the premature revenue-r

IV. Post-Termination Obligations A. Return of Company Property Mr. Daskine is required to immediately return all property belonging to VHG, VCR, and their respective affiliates, including, without limitation, all laptop computers, desktop computers, mobile phones, tablets, external storage devices, access badges, keys, key cards, security tokens, and any other electronic devices or access credentials in his possessio

V. Reservation of Rights VHG expressly reserves all rights, claims, and remedies available to it at law and in equity against Mr. Daskine, whether arising under federal or state law, contract, or otherwise. Without limitation, these include claims for breach of fiduciary duty, fraud, constructive fraud, conversion, civil theft, unjust enrichment, breach of contract, breach of the implied covenant of good faith and fa

VI. Request for Acknowledgment We respectfully request that you confirm receipt of this letter and provide a written acknowledgment on behalf of Mr. Daskine that he has received the notification of termination for cause set forth herein, that he understands the post-termination obligations described in Section IV, and that the document preservation obligations communicated on July 24, 2023, remain in full force and e