Let be a bounded self-adjoint operator on a separable Hilbert space and a closed invariant subspace of . Assuming that , where and are restrictions of onto the subspaces and , respectively, we study the variation of the invariant subspace under bounded self-adjoint perturbations that are off-diagonal with respect to the decomposition . We obtain sharp two-sided estimates on the norm of the difference of the orthogonal projections onto invariant subspaces of the operators and . These results extend the celebrated Davis-Kahan Theorem. On this basis we also prove new existence and uniqueness theorems for contractive solutions to the operator Riccati equation, thus, extending recent results of Adamyan, Langer, and Tretter.

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