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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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¨
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Delaware
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20-1480589
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(State or Other Jurisdiction of
Incorporation or Organization)
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(IRS Employer
Identification No.)
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71 South Wacker Drive,
12th Floor, Chicago, Illinois
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60606
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(Address of Principal Executive Offices)
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(Zip Code)
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Title of Each Class
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Name of Each Exchange on Which Registered
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Class A Common Stock, $0.01 par value
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New York Stock Exchange
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Large accelerated filer
þ
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Accelerated filer
¨
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Non-accelerated filer
¨
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Smaller reporting company
¨
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PART I
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Item 1.
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Item 1A.
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Item 1B.
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Item 2.
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Item 3.
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Item 4.
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PART II
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Item 5.
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Item 6.
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Item 7.
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Item 7A.
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Item 8.
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Item 9.
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Item 9A.
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Item 9B.
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PART III
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Item 10.
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Item 11.
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Item 12.
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Item 13.
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Item 14.
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PART IV
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Item 15.
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•
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the factors discussed in this annual report set forth under the sections titled "Risk Factors" in Part I, Item 1A, and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7;
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general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth;
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the rate and the pace of economic recovery following economic downturns;
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levels of spending in business and leisure segments as well as consumer confidence;
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declines in occupancy and average daily rate;
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limited visibility with respect to future bookings;
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loss of key personnel;
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hostilities, or fear of hostilities, including future terrorist attacks, that affect travel;
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travel-related accidents;
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natural or man-made disasters such as earthquakes, tsunamis, tornados, hurricanes, floods, oil spills, nuclear incidents and global outbreaks of pandemics or contagious diseases or fear of such outbreaks;
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our ability to successfully achieve certain levels of operating profits at hotels that have performance guarantees in favor of our third-party owners;
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the impact of hotel renovations;
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our ability to successfully execute our common stock repurchase program;
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the seasonal and cyclical nature of the real estate and hospitality businesses;
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changes in distribution arrangements, such as through Internet travel intermediaries;
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changes in the tastes and preferences of our customers;
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relationships with colleagues and labor unions and changes in labor laws;
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the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners;
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the possible inability of third-party owners, franchisees or development partners to access capital necessary to fund current operations or implement our plans for growth;
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risks associated with potential acquisitions and dispositions and the introduction of new brand concepts;
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the timing of acquisitions and dispositions;
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failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals);
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unforeseen terminations of our management or franchise agreements;
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changes in federal, state, local or foreign tax law;
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increases in interest rates and operating costs;
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foreign exchange rate fluctuations or currency restructurings;
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lack of acceptance of new brands or innovation;
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general volatility of the capital markets and our ability to access such markets;
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changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate;
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cyber incidents and information technology failures;
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outcomes of legal or administrative proceedings; and
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violations of regulations or laws related to our franchising business.
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o
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Increase Market Presence.
We focus our expansion efforts on under-penetrated markets where we already have an established presence and on locations where our guests are traveling but where we do not have a presence. We intend to expand our presence by increasing the number of hotels in the Hyatt portfolio, primarily by entering into new management and franchise agreements. We believe our intense focus on each customer group that we serve and our understanding of how we can serve them in new locations will result in quality growth. Over the past few years, we have made significant progress in expanding our presence through development of new hotels and conversion of existing hotels. For example, in New York City, we have expanded our presence from one property at the time of our IPO in 2009 to eight properties as of December 31, 2015. Expansion in dynamic markets like China and India is central to our growth strategy as representation in key cities and resort destinations provides the Company with the opportunity to drive preference for our brands as we serve a broader base of guests in these high growth markets. As of
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o
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Expand Select Service Presence
. We continue to expand Hyatt Place and Hyatt House, which we believe will support our overall growth and enhance the performance of all of our brands. We intend to grow our select service presence through third-party construction of new franchised properties, conversion and renovation of existing non-Hyatt properties, and in certain cases, participation in the development of new managed properties. We believe that the opportunity for properties that provide a select offering of services at a lower price point than full service hotels is particularly compelling in certain markets, including India, China and the Middle East, where there is a large and growing middle class along with a meaningful number of local business travelers. As of December 31, 2015, we had 19 Hyatt Place hotels operating outside of the United States in 11 countries, throughout Asia, Europe, Africa and Latin America. In addition to these hotels, we have announced new management agreements for select service properties currently under development in Brazil, Canada, China, Guatemala, India, Mexico, Thailand, Saudi Arabia, Switzerland and the United Kingdom.
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Increase Focus on Franchising.
We continue to increase our franchised hotel presence, primarily in the United States. By increasing our focus on franchising, we believe that we will gain access to capital from developers and property owners that specifically target franchise business opportunities. We have an internal team dedicated to supporting our franchise owners and to driving the expansion of our franchised hotel presence. We plan to expand existing relationships and develop new relationships with franchisees who demonstrate an ability to provide excellent customer service and maintain our brand standards. In support of our strategy, we recently sold several individual full service hotels and portfolios of select service hotels subject to long-term franchise agreements with the purchasers.
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o
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Utilize our Capital and Asset Base for Targeted Growth.
The combination of our significant liquidity and strong capital position coupled with our large, high quality asset base provides a unique platform to support our growth strategy. We take a comprehensive approach to our efforts to recycle hotel real estate assets and to manage capital deployment in furtherance of our expansion plans. Capital deployment will continue to be done with an objective to maximize long-term shareholder value and we will assess and balance liquidity, value and strategic importance in each instance. We also will continue to commit capital to fund the renovation of certain assets in our owned portfolio. While we will selectively dispose of hotel properties, we expect to maintain significant ownership of hotel properties over time given our focus and expertise as an owner. During 2014 and 2015, we sold several individual full service hotels and portfolios of select service hotels. Asset sales are consistent with the Company’s asset recycling strategy—selling certain hotels, maintaining presence in markets by entering into new management or franchise agreements, and re-investing sale proceeds into new hotels and other growth opportunities, including investments in hospitality ventures.
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Pursue Strategic Acquisitions and Alliances.
We expect to continue to evaluate potential acquisitions of other brands or hospitality management or franchising companies as a part of our efforts to expand our presence. These acquisitions may include hotel real estate. We expect to focus on acquisitions that complement our ability to serve our existing customer base and enhance customer preference by providing a greater selection of locations, properties and services. Furthermore, we may pursue these opportunities in alliance with existing or prospective owners of managed or franchised properties to strengthen our brand presence.
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Brand
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Segment
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Customer Base
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December 31, 2015 Rooms/Units (1)
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Primary Selected
Competitors
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Key Locations
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% of our
Total Portfolio
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Americas Region
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ASPAC Region
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EAME/SW Asia Region
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Full
Service/
Luxury
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Individual business and leisure travelers; small meetings
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4%
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1,839
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2,883
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2,486
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Four Seasons,
Ritz-Carlton,
Peninsula,
St. Regis,
Mandarin Oriental
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Buenos Aires, Dubai,
Paris, New York, Shanghai, Sydney,
Washington D.C.
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Full
Service/ Upper Upscale |
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Individual business and leisure travelers; large and small meetings, social events
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15%
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9,338
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11,571
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3,484
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Mandarin Oriental,
Shangri-La, InterContinental, Fairmont |
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Beijing,
Berlin, Dubai, Hong Kong, New York, Tokyo |
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Full
Service/
Upper
Upscale
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Individual business and leisure travelers; small meetings
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1%
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1,580
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470
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389
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W, Mondrian,
The Standard
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Amsterdam, London,
Los Angeles, Maui, New York,
Shanghai, Tokyo
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Full
Service/ Upper Upscale |
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Conventions, business and leisure travelers; large and small meetings, social events; associations
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46%
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53,670
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10,846
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10,606
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Marriott, Sheraton,
Hilton, Renaissance, Westin |
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Boston,
Delhi, London, Los Angeles, Mexico City, Orlando, San Francisco |
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Full
Service/ Upper Upscale |
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Business and leisure travelers; small meetings
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<1%
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708
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—
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—
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Canopy, Kimpton, Renaissance, Joie de Vivre, independent and boutique hotels
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Chicago, Long Beach, Miami, Park City
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Full Service/
Upper
Upscale
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Business and leisure travelers; small meetings
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4%
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5,444
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362
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1,501
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Marriott,
Hilton,
InterContinental,
Westin,
independent and
boutique hotels
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Abu Dhabi, New York,
San Francisco, Seattle,
Key West
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Select
Service/
Upscale
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Individual business and leisure travelers; small meetings
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20%
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31,303
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144
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1,560
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Courtyard by
Marriott, Hilton
Garden Inn
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Atlanta, Dallas,
Dubai, Houston,
Miami, Phoenix, Santiago
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Select
Service/
Extended
Stay
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Extended stay guests; individual business and leisure travelers;
families; small
meetings/trainings
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6%
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9,152
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—
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—
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Residence Inn
by Marriott,
Homewood
Suites
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Austin, Boston,
Dallas, Miami,
San Francisco
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All Inclusive
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Leisure travelers; families; small meetings
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1%
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1,860
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—
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—
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Club Med, Sandals, Beaches
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San Jose del Cabo, Puerto Vallarta and Cancun, Mexico; Rose Hall, Jamaica;
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All Inclusive
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Leisure travelers; adult-only; small meetings
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<1%
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541
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—
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—
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Club Med, Sandals, Beaches
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Cancun, Mexico; Rose Hall, Jamaica
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Vacation
Ownership/
Branded
Residential
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Owners of
vacation units, repeat Hyatt business and leisure guests
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2%
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1,185
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470
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1,533
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Hilton Vacation
Club, Marriott
Vacation Club,
Starwood Vacation
Ownership
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Aspen, Beaver Creek, Beijing, Carmel, Danang
Dubai, Key West, Maui, Park City
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Assuming no renewal options are exercised by either party:
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Including exercise of extension options that are in Hyatt's sole discretion and assuming in certain cases that financial performance tests have been met:
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Full service management agreements:
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Americas
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13 years
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21 years
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EAME/SW Asia
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15 years
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22 years
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ASPAC
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14 years
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15 years
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Select service management agreements:
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Americas
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14 years
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30 years
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EAME/SW Asia
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23 years
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40 years
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ASPAC
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19 years
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29 years
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•
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effect or seek, offer or propose (whether publicly or otherwise) to effect, or announce any intention to effect or cause or participate in or in any way assist, facilitate or encourage any other person to effect or seek, offer or propose (whether publicly or otherwise) to effect or participate in, (a) any acquisition of any of our or our subsidiaries' securities (or beneficial ownership thereof) (except through the proper exercise of preemptive rights granted under the 2007 Stockholders' Agreement), or rights or options to acquire any of our or our subsidiaries' securities (or beneficial ownership thereof), or any of our or our subsidiaries' or affiliates' assets, indebtedness or businesses, (b) any tender or exchange offer, merger or other business combination involving us or any of our subsidiaries or affiliates or any assets constituting a significant portion of our consolidated assets, (c) any recapitalization, restructuring, liquidation, dissolution or other extraordinary transaction with respect to us or any of our subsidiaries or affiliates, or (d) any "solicitation" of "proxies" (as such terms are used in the proxy rules under the Exchange Act) or written consents with respect to any of our or our affiliates' voting securities. For this purpose, the term "affiliates" means our affiliates primarily engaged in the hospitality, lodging and/or gaming industries;
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form, join or in any way participate in a "group" (within the meaning of Section 13(d) of the Exchange Act) with respect to us where such group seeks to acquire any of our equity securities;
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otherwise act, alone or in concert with others, to seek representation on or to control or influence our or our subsidiaries' management, board of directors or policies;
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take any action which would or would reasonably be expected to force us to make a public announcement regarding any of the types of matters set forth in the first bullet point above;
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own more than 12% of the issued and outstanding common stock, unless such ownership arises as a result of any action not taken by or on behalf of such stockholder or a related person of such stockholder; or
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request that we or any of our representatives, directly or indirectly, amend or waive any of the foregoing provisions.
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changes and volatility in general economic conditions, including the severity and duration of any downturn in the U.S., Europe or global economy and financial markets;
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war, civil unrest, terrorist activities or threats and heightened travel security measures instituted in response to these events;
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fear of outbreaks or outbreaks of pandemic or contagious diseases;
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climate change and resource scarcity, such as water and energy scarcity;
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natural or man-made disasters, such as earthquakes, tsunamis, tornados, hurricanes, floods, oil spills and nuclear incidents;
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changes in the desirability of particular locations or travel patterns of customers;
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decreased corporate budgets and spending and cancellations, deferrals or renegotiations of group business;
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low consumer confidence, high levels of unemployment and depressed housing prices;
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the financial condition of the airline, automotive and other transportation-related industries and its impact on travel;
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decreased airline capacities and routes;
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travel-related accidents;
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oil prices and travel costs;
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statements, actions or interventions by governmental officials related to travel and corporate travel-related activities, and the resulting negative public perception of such travel and activities;
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domestic and international political and geo-political conditions;
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changes in taxes and governmental regulations that influence or set wages, prices, interest rates or construction and maintenance procedures and costs;
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the costs and administrative burdens associated with compliance with applicable laws and regulations;
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changes in operating costs, including, but not limited to, labor (including minimum wage increases), energy, food, workers' compensation, benefits, insurance and unanticipated costs resulting from force majeure events;
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significant increases in cost for healthcare coverage for employees and potential government regulation with respect to health coverage;
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the lack of availability, or increase in the cost, of capital for us or our existing and potential owners;
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the attractiveness of our properties to consumers and potential owners and competition from other hotels and alternative lodging marketplaces, including online accommodation search and/or reservation services;
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cyclical over-building in the hotel, all inclusive and vacation ownership industries; and
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organized labor activities, which could cause a diversion of business from hotels involved in labor negotiations and loss of group business for our hotels generally as a result of certain labor tactics.
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the laws, regulations and policies (including taxation policies) of foreign governments relating to investments and operations, the costs or desirability of complying with local practices and customs, and the impact of various anti-corruption and other laws affecting the activities of U.S. companies abroad;
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currency exchange rate fluctuations or currency restructurings;
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limitations/penalties on the repatriation of non-U.S. earnings;
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import and export licensing requirements and regulations, as well as unforeseen changes in regulatory requirements, including imposition of tariffs or embargoes, export regulations and controls and other trade restrictions;
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political and economic instability;
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the difficulty of managing an organization doing business in many jurisdictions;
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uncertainties as to local laws and enforcement of contract and intellectual property rights and occasional requirements for onerous contract clauses; and
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rapid changes in government, economic and political policies, political or civil unrest, acts of terrorism or the threat of international boycotts or U.S. anti-boycott legislation.
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governmental regulations relating to real estate ownership;
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real estate, insurance, zoning, tax, environmental and eminent domain laws;
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the ongoing need for owner funded capital improvements and expenditures to maintain or upgrade properties;
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risks associated with mortgage debt, including the possibility of default, fluctuating interest rate levels and the availability of replacement financing;
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risks associated with the possibility that cost increases will outpace revenue increases and that in the event of an economic slowdown, the high proportion of fixed costs will make it difficult to reduce costs to the extent required to offset declining revenues;
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fluctuations in real estate values or potential impairments in the value of our assets; and
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the relative illiquidity of real estate compared to some other assets.
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go bankrupt or otherwise are unable to meet their capital contribution obligations;
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have economic or business interests or goals that are or become inconsistent with our business interests or goals;
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are in a position to take action contrary to our instructions, our requests, our policies, our objectives or applicable laws;
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subject the property to liabilities exceeding those contemplated;
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take actions that reduce our return on investment; or
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take actions that harm our reputation or restrict our ability to run our business.
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issuing shares of stock that could dilute the interests of our existing stockholders;
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spending cash and incurring debt;
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assuming contingent liabilities;
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contributing properties or related assets to hospitality ventures that could result in recognition of losses; or
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creating additional expenses.
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coordinating sales, distribution and marketing functions;
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integrating technology information systems; and
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preserving the important licensing, distribution, marketing, customer, labor and other relationships of the acquired assets.
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construction delays or cost overruns (including labor and materials) that may increase project costs;
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obtaining zoning, occupancy and other required permits or authorizations;
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changes in economic conditions that may result in weakened or lack of demand or negative project returns;
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governmental restrictions on the size or kind of development;
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force majeure events, including earthquakes, tornados, hurricanes, floods or tsunamis; and
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design defects that could increase costs.
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a risk that cash flow from operations will be insufficient to meet required payments of principal and interest;
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restrictive covenants, including covenants related to certain financial ratios. See Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources" for further information related to restrictions under our financial covenants; and
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the risk that any increase in the interest rate applicable to any borrowings under our revolving credit facility could reduce our cash flows available for other corporate purposes, including investments in our portfolio, could limit our ability to refinance existing debt when it matures or could increase interest costs on any debt that is refinanced.
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health and safety;
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the use, management and disposal of hazardous substances and wastes;
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discharges of waste materials into the environment, such as refuse or sewage; and
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air emissions.
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be expensive and time consuming to defend;
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force us to stop providing products or services that use the intellectual property that is being challenged;
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force us to redesign or rebrand our products or services;
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divert our management's attention and resources;
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force us to enter into royalty or licensing agreements to obtain the right to use a third-party's intellectual property; or
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force us to pay significant damages.
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quarterly variations in our operating results compared to market expectations;
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announcements of acquisitions of or investments in other businesses and properties or dispositions;
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announcements of new services or products or significant price reductions by us or our competitors;
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size of our public float, which has decreased in recent years;
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future conversions to and sales of our Class A common stock by current holders of Class B common stock in the public market, or the perception in the market that the holders of a large number of shares of Class B common stock intend to sell shares;
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stock price performance of our competitors;
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fluctuations in stock market prices and volumes in the U.S. and abroad;
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low investor confidence;
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default on our indebtedness or foreclosure of our properties;
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changes in senior management or key personnel;
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downgrades or changes in financial estimates by securities analysts or negative reports published by securities analysts about our business or the hospitality industry in general;
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negative earnings or other announcements by us or other hospitality companies;
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downgrades in our credit ratings or the credit ratings of our competitors;
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issuances or repurchases of equity or debt securities;
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a decision to pay or not to pay dividends;
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terrorist activities or threats of such activities, civil or political unrest or war; and
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global economic, legal and regulatory factors unrelated to our performance.
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Our amended and restated certificate of incorporation provides for a dual class ownership structure, in which our Class B common stock is entitled to ten votes per share and our Class A common stock is entitled to one vote per share. As a result of this structure, our major stockholders have significant influence or actual control over matters requiring stockholder approval.
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Voting agreements entered into with or among our major stockholders require these stockholders to vote their shares consistent with the recommendation of our board of directors, assuming in certain instances that a majority of a minimum of three independent directors (excluding for such purposes any Pritzker) or, in the case of transactions involving us and an affiliate, all of such minimum of three independent directors (excluding for such purposes any Pritzker) agree with the recommendation. While the voting agreements are in effect, they may provide our board of directors with effective control over matters requiring stockholder approval.
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Lock-up agreements entered into with stockholders party to our 2007 Stockholders' Agreement limit the ability of these stockholders to sell their shares to any person who would be required to file a Schedule 13D with the SEC disclosing an intent to acquire the shares other than for investment purposes and, in certain instances, to competitors of ours in the hospitality, lodging or gaming industries.
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Stockholders party to our 2007 Stockholders' Agreement have agreed, subject to certain limited exceptions, to "standstill" provisions that prevent the stockholders from acquiring additional shares of our common stock, making or participating in acquisition proposals for us or soliciting proxies in connection with meetings of our stockholders, unless the stockholders are invited to do so by our board of directors.
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Our board of directors is divided into three classes, with each class serving for a staggered three-year term, which prevents stockholders from electing an entirely new board of directors at an annual meeting.
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Our directors may be removed only for cause, which prevents stockholders from being able to remove directors without cause other than those directors who are being elected at an annual meeting.
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Our amended and restated certificate of incorporation does not provide for cumulative voting in the election of directors. As a result, holders of our Class B common stock will control the election of directors and the ability of holders of our Class A common stock to elect director candidates will be limited.
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Vacancies on our board of directors, and any newly created director positions created by the expansion of the board of directors, may be filled only by a majority of remaining directors then in office.
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Actions to be taken by our stockholders may only be effected at an annual or special meeting of our stockholders and not by written consent.
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Special meetings of our stockholders can be called only by the Chairman of the Board or by our corporate secretary at the direction of our board of directors.
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•
|
Advance notice procedures that stockholders must comply with in order to nominate candidates to our board of directors and propose matters to be brought before an annual meeting of our stockholders may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer's own slate of directors or otherwise attempting to obtain control of our company.
|
•
|
Our board of directors may, without stockholder approval, issue series of preferred stock, or rights to acquire preferred stock, that could dilute the interest of, or impair the voting power of, holders of our common stock or could also be used as a method of discouraging, delaying or preventing a change of control.
|
•
|
An affirmative vote of the holders of at least 80% of the voting power of our outstanding capital stock entitled to vote is required to amend any provision of our certificate of incorporation or bylaws.
|
Time Period
|
Number of Shares*
|
During the 12 month period from November 5, 2015 through November 4, 2016
|
51,985,614 (1)
|
During the 12 month period from November 5, 2016 through November 4, 2017
|
21,622,682 (2)
|
During the 12 month period from November 5, 2017 through November 4, 2018
|
13,449,973 (2)
|
During the 12 month period from November 5, 2018 through November 4, 2019
|
6,916,287 (2)
|
During the 12 month period from November 5, 2019 through November 4, 2020
|
6,419,886 (2)
|
During the 12 month period from November 5, 2020 through November 4, 2021
|
6,271,290 (2)
|
During the 12 month period from November 5, 2021 through November 4, 2022
|
3,001,963 (2)
|
Hotel Property
|
|
Location
|
|
Rooms
|
|
# of Hotels
|
|
Ownership (1)
|
|||
Owned and Leased Properties
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|||
Full Service
|
|
|
|
|
|
|
|
|
|||
Americas Owned:
|
|
|
|
|
|
|
|
|
|||
Park Hyatt Chicago
|
|
Chicago, IL
|
|
198
|
|
|
|
|
100
|
%
|
|
Park Hyatt New York
|
|
New York, NY
|
|
210
|
|
|
|
|
100
|
%
|
|
Andaz 5th Avenue
|
|
New York, NY
|
|
184
|
|
|
|
|
100
|
%
|
|
Grand Hyatt New York (4)
|
|
New York, NY
|
|
1,306
|
|
|
|
|
100
|
%
|
|
Grand Hyatt San Antonio (4)
|
|
San Antonio, TX
|
|
1,003
|
|
|
|
|
100
|
%
|
|
Grand Hyatt San Francisco
|
|
San Francisco, CA
|
|
660
|
|
|
|
|
100
|
%
|
|
The Driskill (4)
|
|
Austin, TX
|
|
189
|
|
|
|
|
100
|
%
|
|
Hyatt Centric The Pike Long Beach (4)
|
|
Long Beach, CA
|
|
138
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Aruba Resort Spa and Casino (4)
|
|
Palm Beach, Aruba, Dutch Caribbean
|
|
357
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Atlanta
|
|
Atlanta, GA
|
|
1,260
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Baltimore Inner Harbor (4)
|
|
Baltimore, MD
|
|
488
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Coconut Point Resort and Spa
|
|
Bonita Springs, FL
|
|
454
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Grand Cypress
|
|
Orlando, FL
|
|
815
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Green Bay
|
|
Green Bay, WI
|
|
241
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Greenwich
|
|
Old Greenwich, CT
|
|
373
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Lake Tahoe Resort, Spa and Casino
|
|
Incline Village, NV
|
|
422
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Long Beach (4)
|
|
Long Beach, CA
|
|
528
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Lost Pines Resort and Spa
|
|
Lost Pines, TX
|
|
491
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Louisville
|
|
Louisville, KY
|
|
393
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Mexico City
|
|
Mexico City, Mexico
|
|
755
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Miami (4)
|
|
Miami, FL
|
|
612
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Monterey Hotel and Spa on Del Monte Golf Course (4)
|
|
Monterey, CA
|
|
550
|
|
|
|
|
100
|
%
|
|
Hyatt Regency O'Hare
|
|
Rosemont, IL
|
|
1,096
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Orlando
|
|
Orlando, FL
|
|
1,639
|
|
|
|
|
100
|
%
|
|
Hyatt Regency San Antonio Riverwalk (4)
|
|
San Antonio, TX
|
|
629
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Scottsdale Resort and Spa at Gainey Ranch
|
|
Scottsdale, AZ
|
|
493
|
|
|
|
|
100
|
%
|
|
Americas Owned
|
|
|
|
15,484
|
|
|
26
|
|
|
|
Hotel Property
|
|
Location
|
|
Rooms
|
|
# of Hotels
|
|
Ownership (1)
|
|||
Americas Leased:
|
|
|
|
|
|
|
|
|
|||
Andaz West Hollywood (3)
|
|
West Hollywood, CA
|
|
239
|
|
|
|
|
—
|
%
|
|
Hyatt Regency San Francisco (3)
|
|
San Francisco, CA
|
|
804
|
|
|
|
|
—
|
%
|
|
Americas Leased
|
|
|
|
1,043
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Total Americas Owned and Leased Properties
|
|
|
|
16,527
|
|
|
28
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
EAME/SW Asia Owned:
|
|
|
|
|
|
|
|
|
|||
Park Hyatt Paris - Vendome
|
|
Paris, France
|
|
153
|
|
|
|
|
100
|
%
|
|
Park Hyatt Zurich (4)
|
|
Zurich, Switzerland
|
|
138
|
|
|
|
|
100
|
%
|
|
Andaz London Liverpool Street (4)
|
|
London, England
|
|
267
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Baku
|
|
Baku, Azerbaijan
|
|
159
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Birmingham
|
|
Birmingham, England
|
|
319
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Bishkek (4)
|
|
Bishkek, Kyrgyz Republic
|
|
178
|
|
|
|
|
98
|
%
|
|
EAME/SW Asia Owned
|
|
|
|
1,214
|
|
|
6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
EAME/SW Asia Leased:
|
|
|
|
|
|
|
|
|
|||
Andaz Amsterdam, Prinsengracht (3)
|
|
Amsterdam, The Netherlands
|
|
122
|
|
|
|
|
—
|
%
|
|
Grand Hyatt Berlin (3) (6)
|
|
Berlin, Germany
|
|
342
|
|
|
|
|
—
|
%
|
|
Hyatt Regency Cologne (3) (6)
|
|
Cologne, Germany
|
|
306
|
|
|
|
|
—
|
%
|
|
Hyatt Regency Mainz (3) (6)
|
|
Mainz, Germany
|
|
268
|
|
|
|
|
—
|
%
|
|
EAME/SW Asia Leased
|
|
|
|
1,038
|
|
|
4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Total EAME/SW Asia Owned and Leased Properties
|
|
|
|
2,252
|
|
|
10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ASPAC Owned:
|
|
|
|
|
|
|
|
|
|||
Grand Hyatt Seoul
|
|
Seoul, South Korea
|
|
601
|
|
|
|
|
100
|
%
|
|
ASPAC Owned
|
|
|
|
601
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Total Full Service Owned and Leased Properties
|
|
|
|
19,380
|
|
|
39
|
|
|
|
Hotel Property
|
|
Location
|
|
Rooms
|
|
# of Hotels
|
|
Ownership (1)
|
|||
Select Service
|
|
|
|
|
|
|
|
|
|||
Leased:
|
|
|
|
|
|
|
|
|
|||
Hyatt Place Amsterdam Airport (3)
|
|
Amsterdam, The Netherlands
|
|
330
|
|
|
|
|
—
|
%
|
|
Hyatt Place Atlanta/Buckhead (2)
|
|
Atlanta, GA
|
|
171
|
|
|
|
|
—
|
%
|
|
Select Service Leased:
|
|
|
|
501
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Total Select Service Owned and Leased Properties
|
|
|
|
501
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Unconsolidated Hospitality Venture Properties
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|||
Full Service
|
|
|
|
|
|
|
|
|
|||
Americas Unconsolidated Hospitality Ventures:
|
|
|
|
|
|
|
|
|
|||
Andaz Maui at Wailea Resort
|
|
Wailea, HI
|
|
300
|
|
|
|
|
67
|
%
|
|
Grand Hyatt São Paulo
|
|
São Paulo, Brazil
|
|
466
|
|
|
|
|
50
|
%
|
|
Hyatt at The Bellevue
|
|
Philadelphia, PA
|
|
172
|
|
|
|
|
50
|
%
|
|
Hyatt Regency Columbus (4)
|
|
Columbus, OH
|
|
633
|
|
|
|
|
24
|
%
|
|
Hyatt Regency Crystal City at Reagan National Airport
|
|
Arlington, VA
|
|
686
|
|
|
|
|
50
|
%
|
|
Hyatt Regency Huntington Beach Resort and Spa (4)
|
|
Huntington Beach, CA
|
|
517
|
|
|
|
|
40
|
%
|
|
Hyatt Regency Jersey City on the Hudson
|
|
Jersey City, NJ
|
|
351
|
|
|
|
|
50
|
%
|
|
Hyatt Regency Minneapolis
|
|
Minneapolis, MN
|
|
645
|
|
|
|
|
50
|
%
|
|
Americas Unconsolidated Hospitality Ventures
|
|
|
|
3,770
|
|
|
8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
EAME/SW Asia Unconsolidated Hospitality Ventures:
|
|
|
|
|
|
|
|
|
|||
Park Hyatt Hamburg (3) (5)
|
|
Hamburg, Germany
|
|
252
|
|
|
|
|
—
|
%
|
|
Park Hyatt Milan
|
|
Milan, Italy
|
|
106
|
|
|
|
|
30
|
%
|
|
Grand Hyatt Mumbai
|
|
Mumbai, India
|
|
547
|
|
|
|
|
50
|
%
|
|
Hyatt Regency Ahmedabad
|
|
Ahmedabad, India
|
|
210
|
|
|
|
|
50
|
%
|
|
EAME/SW Asia Unconsolidated Hospitality Ventures
|
|
|
|
1,115
|
|
|
4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ASPAC Unconsolidated Hospitality Ventures:
|
|
|
|
|
|
|
|
|
|||
Grand Hyatt Bali
|
|
Bali, Indonesia
|
|
636
|
|
|
|
|
10
|
%
|
|
ASPAC Unconsolidated Hospitality Ventures
|
|
|
|
636
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Full Service Unconsolidated Hospitality Ventures
|
|
|
|
5,521
|
|
|
13
|
|
|
|
Hotel Property
|
|
Location
|
|
Rooms
|
|
# of Hotels
|
|
Ownership (1)
|
|||
Select Service
|
|
|
|
|
|
|
|
|
|||
Hyatt Place Atlanta/Perimeter City
|
|
Atlanta, GA
|
|
150
|
|
|
|
|
40
|
%
|
|
Hyatt Place Ciudad del Carmen
|
|
Ciudad del Carmen, Mexico
|
|
140
|
|
|
|
|
50
|
%
|
|
Hyatt Place Columbia/Downtown/The Vista
|
|
Columbia, SC
|
|
132
|
|
|
|
|
40
|
%
|
|
Hyatt Place Denver/Downtown
|
|
Denver, CO
|
|
248
|
|
|
|
|
50
|
%
|
|
Hyatt Place Fair Lawn/Paramus
|
|
Fair Lawn, NJ
|
|
143
|
|
|
|
|
40
|
%
|
|
Hyatt Place Fort Worth/Cityview
|
|
Fort Worth, TX
|
|
127
|
|
|
|
|
40
|
%
|
|
Hyatt Place Fort Worth/Hurst
|
|
Hurst, TX
|
|
127
|
|
|
|
|
40
|
%
|
|
Hyatt Place La Paz
|
|
La Paz, Mexico
|
|
151
|
|
|
|
|
50
|
%
|
|
Hyatt Place Minneapolis/Eden Prairie
|
|
Eden Prairie, MN
|
|
126
|
|
|
|
|
40
|
%
|
|
Hyatt Place Panama City/Downtown
|
|
Panama City, Panama
|
|
165
|
|
|
|
|
29
|
%
|
|
Hyatt Place Phoenix/Gilbert
|
|
Gilbert, AZ
|
|
127
|
|
|
|
|
50
|
%
|
|
Hyatt Place Princeton
|
|
Princeton, NJ
|
|
122
|
|
|
|
|
40
|
%
|
|
Hyatt Place Los Cabos
|
|
San Jose del Cabo, Mexico
|
|
157
|
|
|
|
|
50
|
%
|
|
Hyatt Place Tijuana
|
|
Tijuana, Mexico
|
|
145
|
|
|
|
|
50
|
%
|
|
Hyatt House Boston/Waltham
|
|
Waltham, MA
|
|
135
|
|
|
|
|
40
|
%
|
|
Hyatt House Denver/Downtown
|
|
Denver, CO
|
|
113
|
|
|
|
|
50
|
%
|
|
Select Service Unconsolidated Hospitality Ventures
|
|
|
|
2,308
|
|
|
16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
All Inclusive
|
|
|
|
|
|
|
|
|
|||
Hyatt Zilara Cancun
|
|
Cancun, Mexico
|
|
307
|
|
|
|
|
24
|
%
|
|
Hyatt Zilara Rose Hall
|
|
Montego Bay, Jamaica
|
|
234
|
|
|
|
|
24
|
%
|
|
Hyatt Ziva Cancun
|
|
Cancun, Mexico
|
|
547
|
|
|
|
|
24
|
%
|
|
Hyatt Ziva Los Cabos
|
|
San Jose del Cabo, Mexico
|
|
591
|
|
|
|
|
24
|
%
|
|
Hyatt Ziva Puerto Vallarta
|
|
Puerto Vallarta, Mexico
|
|
335
|
|
|
|
|
24
|
%
|
|
Hyatt Ziva Rose Hall
|
|
Montego Bay, Jamaica
|
|
387
|
|
|
|
|
24
|
%
|
|
All Inclusive Unconsolidated Hospitality Ventures
|
|
|
|
2,401
|
|
|
6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Total Unconsolidated Hospitality Ventures
|
|
|
|
10,230
|
|
|
35
|
|
|
|
(1)
|
Unless otherwise indicated, ownership percentages include both the property and the underlying land.
|
(2)
|
Property is accounted for as a capital lease.
|
(3)
|
Property is accounted for as an operating lease.
|
(4)
|
Our ownership interest in the property is subject to a third-party ground lease on the land.
|
(5)
|
We own a 50% interest in the entity that is the operating lessee and it is an unconsolidated hospitality venture.
|
(6)
|
We own a 100% interest in the entity that is the operating lessee.
|
|
December 31, 2015
|
|
December 31, 2014
|
|
December 31, 2013
|
||||||||||||
|
Properties
|
|
Rooms/Units
|
|
Properties
|
|
Rooms/Units
|
|
Properties
|
|
Rooms/Units
|
||||||
Americas Management and Franchising
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Full Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
115
|
|
|
60,388
|
|
|
117
|
|
|
61,277
|
|
|
117
|
|
|
61,321
|
|
Franchised
|
40
|
|
|
12,191
|
|
|
34
|
|
|
10,416
|
|
|
33
|
|
|
10,190
|
|
Full Service Managed and Franchised
|
155
|
|
|
72,579
|
|
|
151
|
|
|
71,693
|
|
|
150
|
|
|
71,511
|
|
Select Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
59
|
|
|
8,329
|
|
|
57
|
|
|
7,995
|
|
|
98
|
|
|
13,256
|
|
Franchised
|
236
|
|
|
32,126
|
|
|
212
|
|
|
28,573
|
|
|
150
|
|
|
20,263
|
|
Select Service Managed and Franchised
|
295
|
|
|
40,455
|
|
|
269
|
|
|
36,568
|
|
|
248
|
|
|
33,519
|
|
ASPAC Management and Franchising
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Full Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
68
|
|
|
24,848
|
|
|
64
|
|
|
23,954
|
|
|
57
|
|
|
21,429
|
|
Franchised
|
3
|
|
|
1,284
|
|
|
2
|
|
|
988
|
|
|
2
|
|
|
988
|
|
Full Service Managed and Franchised
|
71
|
|
|
26,132
|
|
|
66
|
|
|
24,942
|
|
|
59
|
|
|
22,417
|
|
Select Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
1
|
|
|
144
|
|
|
1
|
|
|
144
|
|
|
—
|
|
|
—
|
|
Select Service Managed
|
1
|
|
|
144
|
|
|
1
|
|
|
144
|
|
|
—
|
|
|
—
|
|
EAME/SW Asia Management
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Full Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
67
|
|
|
18,466
|
|
|
63
|
|
|
16,832
|
|
|
62
|
|
|
16,742
|
|
Select Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
10
|
|
|
1,560
|
|
|
5
|
|
|
926
|
|
|
2
|
|
|
210
|
|
Total Managed and Franchised
|
599
|
|
|
159,336
|
|
|
555
|
|
|
151,105
|
|
|
521
|
|
|
144,399
|
|
|
December 31, 2015
|
|
December 31, 2014
|
|
December 31, 2013
|
||||||||||||
|
Properties
|
|
Rooms
|
|
Properties
|
|
Rooms
|
|
Properties
|
|
Rooms
|
||||||
Owned and Leased Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Full Service hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
United States
|
26
|
|
|
15,415
|
|
|
27
|
|
|
15,914
|
|
|
27
|
|
|
15,498
|
|
Other Americas
|
2
|
|
|
1,112
|
|
|
2
|
|
|
1,112
|
|
|
4
|
|
|
2,102
|
|
ASPAC
|
1
|
|
|
601
|
|
|
1
|
|
|
601
|
|
|
1
|
|
|
601
|
|
EAME/SW Asia
|
10
|
|
|
2,252
|
|
|
10
|
|
|
2,256
|
|
|
11
|
|
|
2,438
|
|
Select Service hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
United States
|
1
|
|
|
171
|
|
|
2
|
|
|
329
|
|
|
54
|
|
|
7,400
|
|
EAME/SW Asia
|
1
|
|
|
330
|
|
|
1
|
|
|
330
|
|
|
—
|
|
|
—
|
|
Total Owned and Leased Hotels
|
41
|
|
|
19,881
|
|
|
43
|
|
|
20,542
|
|
|
97
|
|
|
28,039
|
|
Name
|
|
Age
|
|
Position
|
Thomas J. Pritzker
|
|
65
|
|
Executive Chairman of the Board
|
Mark S. Hoplamazian
|
|
52
|
|
President, Chief Executive Officer and Director (Principal Executive Officer)
|
Atish Shah
|
|
42
|
|
Senior Vice President, Interim Chief Financial Officer (Principal Financial Officer)
|
Stephen G. Haggerty
|
|
48
|
|
Executive Vice President, Global Head of Capital Strategy, Franchising and Select Service
|
H. Charles Floyd
|
|
56
|
|
Executive Vice President, Global President of Operations
|
Peter J. Sears
|
|
51
|
|
Executive Vice President, Group President—Americas
|
David Udell
|
|
55
|
|
Executive Vice President, Group President—ASPAC
|
Peter Fulton
|
|
58
|
|
Executive Vice President, Group President—EAME/SW Asia
|
Rena Hozore Reiss
|
|
56
|
|
Executive Vice President, General Counsel and Secretary
|
Robert W. K. Webb
|
|
59
|
|
Executive Vice President, Chief Human Resources Officer
|
Maryam Banikarim
|
|
47
|
|
Executive Vice President, Global Chief Marketing Officer
|
Item 5.
|
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
|
Fiscal Year end December 31, 2014
|
High
|
|
Low
|
First Quarter
|
$54.99
|
|
$45.73
|
Second Quarter
|
$61.97
|
|
$51.77
|
Third Quarter
|
$64.52
|
|
$56.57
|
Fourth Quarter
|
$62.48
|
|
$54.08
|
|
|
|
|
Fiscal Year end December 31, 2015
|
|
|
|
First Quarter
|
$61.99
|
|
$55.03
|
Second Quarter
|
$60.35
|
|
$56.00
|
Third Quarter
|
$59.94
|
|
$45.71
|
Fourth Quarter
|
$54.00
|
|
$46.64
|
|
12/31/2010
|
12/31/2011
|
12/31/2012
|
12/31/2013
|
12/31/2014
|
12/31/2015
|
Hyatt Hotels Corporation
|
100.0
|
82.3
|
84.3
|
108.1
|
131.6
|
102.8
|
S&P 500
|
100.0
|
102.1
|
118.4
|
156.7
|
178.1
|
180.6
|
Russell 1000 Hotel
|
100.0
|
89.8
|
109.2
|
161.2
|
181.0
|
152.0
|
|
|
Total Number of Shares Purchased (1)
|
|
Weighted Average Price Paid per Share
|
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans
|
|
Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased under the Program
|
||||||
October 1 to October 31, 2015
|
|
985,308
|
|
|
$
|
49.07
|
|
|
|
985,308
|
|
|
$
|
256,818,662
|
|
November 1 to November 30, 2015
|
|
983,251
|
|
|
50.16
|
|
|
|
983,251
|
|
|
$
|
207,500,534
|
|
|
December 1 to December 31, 2015
|
|
1,616,789
|
|
|
48.49
|
|
|
|
1,616,789
|
|
|
$
|
129,096,203
|
|
|
Total
|
|
3,585,348
|
|
|
$
|
49.11
|
|
|
|
3,585,348
|
|
|
|
(in millions, except per share data)
|
Year Ended December 31,
|
||||||||||||||||||
2015
|
|
2014
|
|
2013
|
|
2012
|
|
2011
|
|||||||||||
Consolidated statements of income data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Owned and leased hotels
|
$
|
2,079
|
|
|
$
|
2,246
|
|
|
$
|
2,142
|
|
|
$
|
2,021
|
|
|
$
|
1,879
|
|
Management and franchise fees
|
427
|
|
|
387
|
|
|
342
|
|
|
307
|
|
|
288
|
|
|||||
Other revenues
|
36
|
|
|
75
|
|
|
78
|
|
|
78
|
|
|
66
|
|
|||||
Other revenues from managed properties (1)
|
1,786
|
|
|
1,707
|
|
|
1,622
|
|
|
1,543
|
|
|
1,465
|
|
|||||
Total revenues
|
4,328
|
|
|
4,415
|
|
|
4,184
|
|
|
3,949
|
|
|
3,698
|
|
|||||
Direct and selling, general, and administrative expenses
|
4,005
|
|
|
4,136
|
|
|
3,951
|
|
|
3,790
|
|
|
3,545
|
|
|||||
Income from continuing operations
|
124
|
|
|
346
|
|
|
205
|
|
|
87
|
|
|
111
|
|
|||||
Net (income) loss attributable to noncontrolling interests
|
—
|
|
|
(2
|
)
|
|
2
|
|
|
1
|
|
|
2
|
|
|||||
Net income attributable to Hyatt Hotels Corporation
|
124
|
|
|
344
|
|
|
207
|
|
|
88
|
|
|
113
|
|
|||||
Income from continuing operations per common share - basic
|
$
|
0.87
|
|
|
$
|
2.26
|
|
|
$
|
1.29
|
|
|
$
|
0.53
|
|
|
$
|
0.66
|
|
Income from continuing operations per common share - diluted
|
$
|
0.86
|
|
|
$
|
2.24
|
|
|
$
|
1.29
|
|
|
$
|
0.53
|
|
|
$
|
0.66
|
|
(in millions)
|
As of December 31,
|
||||||||||||||||||
2015
|
|
2014
|
|
2013
|
|
2012
|
|
2011
|
|||||||||||
Consolidated balance sheet data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash and cash equivalents
|
$
|
457
|
|
|
$
|
685
|
|
|
$
|
454
|
|
|
$
|
413
|
|
|
$
|
534
|
|
Total current assets
|
1,124
|
|
|
1,709
|
|
|
1,163
|
|
|
1,758
|
|
|
1,591
|
|
|||||
Property and equipment, net
|
4,031
|
|
|
4,186
|
|
|
4,671
|
|
|
4,139
|
|
|
4,043
|
|
|||||
Intangibles, net
|
547
|
|
|
552
|
|
|
591
|
|
|
388
|
|
|
359
|
|
|||||
Total assets
|
7,596
|
|
|
8,143
|
|
|
8,177
|
|
|
7,630
|
|
|
7,497
|
|
|||||
Total current liabilities
|
1,107
|
|
|
730
|
|
|
871
|
|
|
618
|
|
|
568
|
|
|||||
Long-term debt
|
1,047
|
|
|
1,381
|
|
|
1,289
|
|
|
1,229
|
|
|
1,221
|
|
|||||
Other long-term liabilities
|
1,447
|
|
|
1,401
|
|
|
1,240
|
|
|
962
|
|
|
890
|
|
|||||
Total liabilities
|
3,601
|
|
|
3,512
|
|
|
3,400
|
|
|
2,809
|
|
|
2,679
|
|
|||||
Total stockholders’ equity
|
3,991
|
|
|
4,627
|
|
|
4,769
|
|
|
4,811
|
|
|
4,808
|
|
|||||
Total liabilities and equity
|
$
|
7,596
|
|
|
$
|
8,143
|
|
|
$
|
8,177
|
|
|
$
|
7,630
|
|
|
$
|
7,497
|
|
(1)
|
Represents revenues that we receive from third-party property owners who reimburse us for costs that we incur on their behalf, with no added margin. These costs relate primarily to payroll at managed properties where we are the employer. As a result, these revenues have no effect on our profit, although they do increase our total revenues and the corresponding costs increase our total expenses. See Part II, Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations—Principal Factors Affecting Our Results of Operations—Revenues."
|
•
|
260
managed properties (
87,448
rooms), all of which we operate under management agreements with third-party property owners;
|
•
|
269
franchised properties (
44,178
rooms), all of which are owned by third parties that have franchise agreements with us and are operated by third-parties;
|
•
|
33
owned properties (
17,299
rooms) (including
1
consolidated hospitality venture),
1
capital leased property (
171
rooms) and
7
operating leased properties (
2,411
rooms), all of which we manage; and
|
•
|
19
managed properties and
10
franchised properties owned or leased by unconsolidated hospitality ventures (
7,829
rooms).
|
•
|
6
all inclusive resorts (
2,401
rooms), all of which are owned and operated by an unconsolidated hospitality venture that has franchise agreements with us;
|
•
|
16
vacation ownership properties (
1,038
units), all of which are licensed by ILG under the Hyatt Residence Club brand and operated by third parties, including ILG and its affiliates; and
|
•
|
17
residential properties (
2,150
units), which consist of branded residences and serviced apartments. We manage all of the serviced apartments and those branded residential units that participate in a rental program with an adjacent Hyatt-branded hotel.
|
•
|
Owned and leased hotels, which consists of our owned and leased full service and select service hotels and, for purposes of segment Adjusted EBITDA, our pro rata share of the Adjusted EBITDA of our unconsolidated hospitality ventures, based on our ownership percentage of each venture.
|
•
|
Americas management and franchising, which consists of our management and franchising of properties located in the United States, Latin America, Canada and the Caribbean.
|
•
|
ASPAC management and franchising, which consists of our management and franchising of properties located in Southeast Asia, as well as China, Australia, South Korea and Japan.
|
•
|
EAME/SW Asia management, which consists of our management of properties located primarily in Europe, Africa, the Middle East, India and Nepal, as well as countries along the Persian Gulf and the Arabian Sea.
|
•
|
equity earnings (losses) from unconsolidated hospitality ventures;
|
•
|
gains on sales of real estate and other;
|
•
|
asset impairments;
|
•
|
other income (loss), net;
|
•
|
net (income) loss attributable to noncontrolling interests;
|
•
|
depreciation and amortization;
|
•
|
interest expense; and
|
•
|
provision for income taxes.
|
•
|
sold Hyatt Regency Indianapolis for a net sales price of $69 million and entered into a long-term franchise agreement with the purchaser of the hotel;
|
•
|
sold land and construction in progress for $14 million to an unconsolidated hospitality venture in which Hyatt has a 40% ownership interest;
|
•
|
sold a Hyatt House hotel for a net sales price of $5 million;
|
•
|
sold an entity which held an interest in one of our foreign currency denominated equity method investments, for which we received proceeds of $3 million. In connection with the sale, we released $21 million of accumulated foreign currency translation losses;
|
•
|
a joint venture in which we hold an ownership interest and which is classified as an equity method investment sold Hyatt House Miami Airport for which we received proceeds of $10 million; and
|
•
|
a joint venture in which we held an ownership interest and which was classified as an equity method investment sold Hyatt House Atlanta/Cobb Galleria for which we received proceeds of $6 million.
|
•
|
sold 38 select service properties for approximately $581 million and entered into long-term franchise agreements with the purchaser of the hotels;
|
•
|
sold the Hyatt Residential Group for approximately $222 million, which includes an interest in a joint venture that owns and is developing a vacation ownership property in Maui, Hawaii, as well as a full service hotel. We entered into a master license agreement and are receiving ongoing license fees under this agreement. The Hyatt Residence Club and the vacation ownership resorts will retain the Hyatt Residence Club brand;
|
•
|
sold nine select service properties and one full service property for a combined $311 million. The properties will remain Hyatt-branded hotels under long-term agreements;
|
•
|
acquired Park Hyatt New York for a purchase price of approximately $392 million;
|
•
|
acquired Hyatt Regency Lost Pines Resort and Spa and adjacent land from a joint venture for approximately $164 million. As part of the acquisition, we recorded debt of approximately $69 million, inclusive of a $3 million debt premium;
|
•
|
sold Hyatt Regency Vancouver for approximately $116 million and entered into a long-term management agreement with the purchaser of the hotel;
|
•
|
sold Park Hyatt Washington for approximately $97 million and entered into a long-term management agreement with the purchaser of the hotel;
|
•
|
sold Park Hyatt Toronto for approximately $88 million and entered into a long-term management agreement with the purchaser of the hotel;
|
•
|
sold five select service properties for a total of $51 million and entered into long-term franchise agreements with the purchasers of the hotels;
|
•
|
four joint ventures in which we held an ownership interest each sold a hotel to a third party. The hotels will all remain Hyatt-branded hotels under long-term management or franchise agreements; and
|
•
|
acquired Hyatt Regency Grand Cypress for
$191 million
after exercising our purchase option under a capital lease. This purchase reduced our capital lease obligation, which was recorded in current maturities of long-term debt on our consolidated balance sheets as of December 31, 2013.
|
•
|
acquired The Peabody in Orlando, Florida for a purchase price of approximately
$716 million
. The hotel was subsequently rebranded as Hyatt Regency Orlando and is our first large convention hotel presence in the Orlando market;
|
•
|
acquired the remaining 70% interest in the entity that owned Grand Hyatt San Antonio for a purchase price of
$16 million
. We previously held a 30% interest in the hotel and accounted for the hotel as an unconsolidated hospitality venture under the equity method. As part of the purchase, we repaid
$44 million
of mezzanine debt and consolidated
$198 million
of outstanding bonds that were held at the hospitality venture;
|
•
|
acquired The Driskill hotel in Austin, Texas for a purchase price of approximately
$85 million
;
|
•
|
invested
$325 million
in Playa Hotels & Resorts B.V. ("Playa"), a company that has been formed to own, operate and develop all inclusive resorts, which represented $271 million and $54 million of preferred and common shares, respectively;
|
•
|
sold seven full service properties for $497 million. We entered into either long-term management agreements or long-term franchise agreements with the owners of each of these properties; and
|
•
|
sold four select service properties for a combined $68 million and entered into long-term management agreements with the purchasers of each of these hotels.
|
|
Year Ended December 31,
|
|||||||||||||||||
(in millions, except percentages)
|
2015
|
|
2014
|
|
Better / (Worse)
|
|
Currency Impact
|
|||||||||||
Comparable owned and leased hotels revenues
|
$
|
1,938
|
|
|
$
|
1,888
|
|
|
$
|
50
|
|
|
2.6
|
%
|
|
$
|
(56
|
)
|
Non-comparable owned and leased hotels revenues
|
141
|
|
|
358
|
|
|
(217
|
)
|
|
(60.6
|
)%
|
|
(10
|
)
|
||||
Total Owned and Leased Hotels Revenues
|
$
|
2,079
|
|
|
$
|
2,246
|
|
|
$
|
(167
|
)
|
|
(7.4
|
)%
|
|
$
|
(66
|
)
|
|
Year Ended December 31,
|
|||||||||||||||||
(in millions, except percentages)
|
2014
|
|
2013
|
|
Better / (Worse)
|
|
Currency Impact
|
|||||||||||
Comparable owned and leased hotels revenues
|
$
|
1,645
|
|
|
$
|
1,591
|
|
|
$
|
54
|
|
|
3.4
|
%
|
|
$
|
6
|
|
Non-comparable owned and leased hotels revenues
|
601
|
|
|
551
|
|
|
50
|
|
|
9.1
|
%
|
|
(5
|
)
|
||||
Total Owned and Leased Hotels Revenues
|
$
|
2,246
|
|
|
$
|
2,142
|
|
|
$
|
104
|
|
|
4.9
|
%
|
|
$
|
1
|
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
(in millions, except percentages)
|
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
||||||||||||||||
Base management fees
|
$
|
187
|
|
|
$
|
180
|
|
|
$
|
163
|
|
|
$
|
7
|
|
|
3.9
|
%
|
|
$
|
17
|
|
|
10.4
|
%
|
Incentive management fees
|
113
|
|
|
111
|
|
|
100
|
|
|
2
|
|
|
1.8
|
%
|
|
11
|
|
|
11.0
|
%
|
|||||
Franchise fees
|
88
|
|
|
65
|
|
|
48
|
|
|
23
|
|
|
35.4
|
%
|
|
17
|
|
|
35.4
|
%
|
|||||
Other fee revenues
|
39
|
|
|
31
|
|
|
31
|
|
|
8
|
|
|
25.8
|
%
|
|
—
|
|
|
—
|
%
|
|||||
Total management and franchise fees
|
$
|
427
|
|
|
$
|
387
|
|
|
$
|
342
|
|
|
$
|
40
|
|
|
10.3
|
%
|
|
$
|
45
|
|
|
13.2
|
%
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
(in millions, except percentages)
|
2015
|
|
2014
|
|
2013
|
|
Change
2015 vs 2014 |
|
Change
2014 vs 2013 |
||||||||||||||||
Selling, general, and administrative expenses
|
$
|
308
|
|
|
$
|
349
|
|
|
$
|
323
|
|
|
$
|
41
|
|
|
11.7
|
%
|
|
$
|
(26
|
)
|
|
(8.0
|
)%
|
Less: rabbi trust impact
|
(2
|
)
|
|
(9
|
)
|
|
(24
|
)
|
|
(7
|
)
|
|
(77.8
|
)%
|
|
(15
|
)
|
|
(62.5
|
)%
|
|||||
Adjusted selling, general, and administrative expenses
|
306
|
|
|
340
|
|
|
299
|
|
|
34
|
|
|
10.0
|
%
|
|
(41
|
)
|
|
(13.7
|
)%
|
|||||
Less: vacation ownership business
|
—
|
|
|
(24
|
)
|
|
(30
|
)
|
|
(24
|
)
|
|
(100.0
|
)%
|
|
6
|
|
|
20.0
|
%
|
|||||
Adjusted selling, general, and administrative expenses excluding impact of sale of vacation ownership business
|
$
|
306
|
|
|
$
|
316
|
|
|
$
|
269
|
|
|
$
|
10
|
|
|
3.2
|
%
|
|
$
|
(47
|
)
|
|
(17.5
|
)%
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
(in millions, except percentages)
|
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
||||||||||||||||
Rabbi trust impact allocated to selling, general, and administrative expenses
|
$
|
2
|
|
|
$
|
9
|
|
|
$
|
24
|
|
|
$
|
(7
|
)
|
|
(77.8
|
)%
|
|
$
|
(15
|
)
|
|
(62.5
|
)%
|
Rabbi trust impact allocated to owned and leased hotels expense
|
1
|
|
|
3
|
|
|
11
|
|
|
(2
|
)
|
|
(66.7
|
)%
|
|
(8
|
)
|
|
(72.7
|
)%
|
|||||
Net gains (losses) and interest income from marketable securities held to fund our Hyatt Gold Passport program allocated to owned and leased hotels revenues
|
1
|
|
|
3
|
|
|
(1
|
)
|
|
(2
|
)
|
|
(66.7
|
)%
|
|
4
|
|
|
400.0
|
%
|
|||||
Net gains and interest income from marketable securities held to fund operating programs
|
$
|
4
|
|
|
$
|
15
|
|
|
$
|
34
|
|
|
$
|
(11
|
)
|
|
(73.3
|
)%
|
|
$
|
(19
|
)
|
|
(55.9
|
)%
|
•
|
a $23 million increase in foreign currency losses at one of our joint ventures which holds loans denominated in a currency other than its functional currency, resulting in losses due to currency volatility during the period;
|
•
|
the sale of an entity that held an interest in one of our foreign currency denominated unconsolidated hospitality ventures which resulted in a loss of $21 million due to the release of accumulated foreign currency translation losses upon sale;
|
•
|
a $21 million decrease related to gains on sales of hotels by hospitality ventures in which we held an interest. During the year ended December 31, 2015 we recognized gains of $13 million compared to the year ended December 31, 2014 in which we recognized gains of $37 million;
|
•
|
a $16 million decrease related to timing of recognition of expenses due to debt repayment guarantees entered into during 2015 related to three of our joint ventures; and
|
•
|
an $11 million decrease attributable to operating and non-operating losses related to one of our joint ventures which was driven primarily by interest, tax, and other nonrecurring expenses recorded during the period.
|
(in millions, except percentages)
|
Year Ended December 31,
|
||||||||||||||||||||||||
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
|||||||||||||||||
Performance guarantee expense, net (1)
|
$
|
(27
|
)
|
|
$
|
(23
|
)
|
|
$
|
(5
|
)
|
|
$
|
(4
|
)
|
|
(17.4
|
)%
|
|
$
|
(18
|
)
|
|
(360.0
|
)%
|
Foreign currency losses, net (2)
|
(14
|
)
|
|
(3
|
)
|
|
(5
|
)
|
|
(11
|
)
|
|
(366.7
|
)%
|
|
2
|
|
|
40.0
|
%
|
|||||
Recoveries (provisions) on hotel loans, net (3)
|
6
|
|
|
—
|
|
|
(6
|
)
|
|
6
|
|
|
100.0
|
%
|
|
6
|
|
|
100.0
|
%
|
|||||
Interest income
|
8
|
|
|
11
|
|
|
17
|
|
|
(3
|
)
|
|
(27.3
|
)%
|
|
(6
|
)
|
|
(35.3
|
)%
|
|||||
Depreciation recovery (4)
|
12
|
|
|
2
|
|
|
1
|
|
|
10
|
|
|
500.0
|
%
|
|
1
|
|
|
100.0
|
%
|
|||||
Guarantee liability amortization
|
12
|
|
|
7
|
|
|
5
|
|
|
5
|
|
|
71.4
|
%
|
|
2
|
|
|
40.0
|
%
|
|||||
Realignment costs (5)
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
7
|
|
|
100.0
|
%
|
|
(7
|
)
|
|
(100.0
|
)%
|
|||||
Transaction costs (6)
|
—
|
|
|
(6
|
)
|
|
(10
|
)
|
|
6
|
|
|
100.0
|
%
|
|
4
|
|
|
40.0
|
%
|
|||||
Cost method investment income (7)
|
—
|
|
|
1
|
|
|
50
|
|
|
(1
|
)
|
|
(100.0
|
)%
|
|
(49
|
)
|
|
(98.0
|
)%
|
|||||
Gain on sale of artwork
|
—
|
|
|
—
|
|
|
29
|
|
|
—
|
|
|
—
|
%
|
|
(29
|
)
|
|
(100.0
|
)%
|
|||||
Charitable contribution to Hyatt Hotels Foundation (8)
|
—
|
|
|
—
|
|
|
(20
|
)
|
|
—
|
|
|
—
|
%
|
|
20
|
|
|
100.0
|
%
|
|||||
Debt settlement costs (9)
|
—
|
|
|
—
|
|
|
(35
|
)
|
|
—
|
|
|
—
|
%
|
|
35
|
|
|
100.0
|
%
|
|||||
Other
|
(2
|
)
|
|
1
|
|
|
(4
|
)
|
|
(3
|
)
|
|
(300.0
|
)%
|
|
5
|
|
|
125.0
|
%
|
|||||
Other income (loss), net
|
$
|
(5
|
)
|
|
$
|
(17
|
)
|
|
$
|
17
|
|
|
$
|
12
|
|
|
70.6
|
%
|
|
$
|
(34
|
)
|
|
(200.0
|
)%
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014 |
|
Better / (Worse)
2014 vs 2013 |
||||||||||
Income before income taxes
|
$
|
194
|
|
|
$
|
525
|
|
|
$
|
321
|
|
|
$
|
(331
|
)
|
|
$
|
204
|
|
Income tax expense
|
(70
|
)
|
|
(179
|
)
|
|
(116
|
)
|
|
109
|
|
|
(63
|
)
|
|||||
Effective tax rate
|
36.2
|
%
|
|
34.1
|
%
|
|
36.2
|
%
|
|
(2.1
|
)%
|
|
2.1
|
%
|
(in millions, except percentages)
|
Year Ended December 31,
|
||||||||||||||||||||||||
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
|||||||||||||||||
Owned and leased hotels
|
$
|
2,079
|
|
|
$
|
2,246
|
|
|
$
|
2,142
|
|
|
$
|
(167
|
)
|
|
(7.4
|
)%
|
|
$
|
104
|
|
|
4.9
|
%
|
Americas management and franchising
|
1,995
|
|
|
1,877
|
|
|
1,774
|
|
|
118
|
|
|
6.3
|
%
|
|
103
|
|
|
5.8
|
%
|
|||||
ASPAC management and franchising
|
178
|
|
|
162
|
|
|
157
|
|
|
16
|
|
|
9.9
|
%
|
|
5
|
|
|
3.2
|
%
|
|||||
EAME/SW Asia management
|
125
|
|
|
130
|
|
|
117
|
|
|
(5
|
)
|
|
(3.8
|
)%
|
|
13
|
|
|
11.1
|
%
|
|||||
Corporate and other
|
40
|
|
|
105
|
|
|
99
|
|
|
(65
|
)
|
|
(61.9
|
)%
|
|
6
|
|
|
6.1
|
%
|
|||||
Eliminations
|
(89
|
)
|
|
(105
|
)
|
|
(105
|
)
|
|
16
|
|
|
15.2
|
%
|
|
—
|
|
|
—
|
%
|
|||||
Consolidated revenues
|
$
|
4,328
|
|
|
$
|
4,415
|
|
|
$
|
4,184
|
|
|
$
|
(87
|
)
|
|
(2.0
|
)%
|
|
$
|
231
|
|
|
5.5
|
%
|
|
Year Ended December 31,
|
|||||||||||||||||
(in millions, except percentages)
|
2015
|
|
2014
|
|
Better / (Worse)
|
|
Currency Impact
|
|||||||||||
Comparable owned and leased hotels revenues
|
$
|
1,938
|
|
|
$
|
1,888
|
|
|
$
|
50
|
|
|
2.6
|
%
|
|
$
|
(56
|
)
|
Non-comparable owned and leased hotels revenues
|
141
|
|
|
358
|
|
|
(217
|
)
|
|
(60.6
|
)%
|
|
(10
|
)
|
||||
Total Owned and Leased Hotels Revenues
|
$
|
2,079
|
|
|
$
|
2,246
|
|
|
$
|
(167
|
)
|
|
(7.4
|
)%
|
|
$
|
(66
|
)
|
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||
|
RevPAR
|
|
Occupancy
|
|
ADR
|
|||||||||||||||||||||||||
|
2015
|
|
2014
|
|
Better /
(Worse)
|
|
2015
|
|
2014
|
|
Change in
Occ % pts
|
|
2015
|
|
2014
|
|
Better /
(Worse)
|
|||||||||||||
Comparable Owned and Leased Hotels
|
$
|
167
|
|
|
$
|
163
|
|
|
2.4
|
%
|
|
76.6
|
%
|
|
76.0
|
%
|
|
0.6
|
%
|
|
$
|
218
|
|
|
$
|
214
|
|
|
1.6
|
%
|
•
|
the sale of Park Hyatt Toronto, Hyatt Regency Vancouver, Park Hyatt Washington and one additional full service hotel and 52 select service hotels in 2014; and
|
•
|
the acquisition of Hyatt Regency Lost Pines Resort and Spa from an unconsolidated hospitality venture in 2014; and
|
•
|
the acquisition of Park Hyatt New York and the opening of one select service hotel in 2014.
|
|
Year Ended December 31,
|
|||||||||||||||||
(in millions, except percentages)
|
2014
|
|
2013
|
|
Better / (Worse)
|
|
Currency Impact
|
|||||||||||
Comparable owned and leased hotels revenues
|
$
|
1,645
|
|
|
$
|
1,591
|
|
|
$
|
54
|
|
|
3.4
|
%
|
|
$
|
6
|
|
Non-comparable owned and leased hotels revenues
|
601
|
|
|
551
|
|
|
50
|
|
|
9.1
|
%
|
|
(5
|
)
|
||||
Total Owned and Leased Hotels Revenues
|
$
|
2,246
|
|
|
$
|
2,142
|
|
|
$
|
104
|
|
|
4.9
|
%
|
|
$
|
1
|
|
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||
|
RevPAR
|
|
Occupancy
|
|
ADR
|
|||||||||||||||||||||||||
|
2014
|
|
2013
|
|
Better /
(Worse)
|
|
2014
|
|
2013
|
|
Change in
Occ % pts
|
|
2014
|
|
2013
|
|
Better /
(Worse)
|
|||||||||||||
Comparable Owned and Leased Hotels
|
$
|
168
|
|
|
$
|
159
|
|
|
5.4
|
%
|
|
76.2
|
%
|
|
74.8
|
%
|
|
1.4
|
%
|
|
$
|
220
|
|
|
$
|
213
|
|
|
3.4
|
%
|
•
|
the acquisition of Grand Hyatt San Antonio from an unconsolidated hospitality venture, the acquisitions of Hyatt Regency Orlando and The Driskill in 2013; and
|
•
|
the acquisition of Park Hyatt New York; the opening of a select service hotel; and the acquisition of Hyatt Regency Lost Pines Resort and Spa from an unconsolidated hospitality venture in 2014.
|
•
|
the sales of Hyatt Key West, Andaz Napa, Andaz Savannah, Hyatt Regency Denver Tech, Hyatt Regency Santa Clara, Hyatt Fisherman's Wharf, Hyatt Santa Barbara and four select service hotels in 2013;
|
•
|
the sales of Park Hyatt Toronto, Hyatt Regency Vancouver, Park Hyatt Washington and one additional full service hotel and 52 select service hotels in 2014; and
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
(in millions except percentages)
|
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
||||||||||||||||
Owned and leased hotels Adjusted EBITDA
|
$
|
413
|
|
|
$
|
442
|
|
|
$
|
403
|
|
|
$
|
(29
|
)
|
|
(6.6
|
)%
|
|
$
|
39
|
|
|
9.7
|
%
|
Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA
|
80
|
|
|
80
|
|
|
68
|
|
|
—
|
|
|
—
|
%
|
|
12
|
|
|
17.6
|
%
|
|||||
Segment Adjusted EBITDA
|
$
|
493
|
|
|
$
|
522
|
|
|
$
|
471
|
|
|
$
|
(29
|
)
|
|
(5.6
|
)%
|
|
$
|
51
|
|
|
10.8
|
%
|
|
Year Ended December 31,
|
|
|
|
|
||||||||||||||||||||
(in millions, except percentages)
|
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
||||||||||||||||
Segment Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Management, Franchise and Other Fees
|
$
|
354
|
|
|
$
|
327
|
|
|
$
|
292
|
|
|
$
|
27
|
|
|
8.3
|
%
|
|
$
|
35
|
|
|
12.0
|
%
|
Other Revenues from Managed Properties
|
1,641
|
|
|
1,550
|
|
|
1,482
|
|
|
91
|
|
|
5.9
|
%
|
|
68
|
|
|
4.6
|
%
|
|||||
Total Segment Revenues
|
$
|
1,995
|
|
|
$
|
1,877
|
|
|
$
|
1,774
|
|
|
$
|
118
|
|
|
6.3
|
%
|
|
$
|
103
|
|
|
5.8
|
%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||
2015
|
|
2014
|
|
Better /
(Worse)
|
|
2015
|
|
2014
|
|
Change in
Occ % pts
|
|
2015
|
|
2014
|
|
Better /
(Worse)
|
||||||||||||||
Americas Full Service
|
$
|
147
|
|
|
$
|
140
|
|
|
5.5
|
%
|
|
75.6
|
%
|
|
74.7
|
%
|
|
0.9
|
%
|
|
$
|
195
|
|
|
$
|
187
|
|
|
4.1
|
%
|
Americas Select Service
|
100
|
|
|
93
|
|
|
7.7
|
%
|
|
77.7
|
%
|
|
76.5
|
%
|
|
1.2
|
%
|
|
128
|
|
|
121
|
|
|
6.0
|
%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||
2014
|
|
2013
|
|
Better /
(Worse)
|
|
2014
|
|
2013
|
|
Change in
Occ % pts
|
|
2014
|
|
2013
|
|
Better /
(Worse)
|
||||||||||||||
Americas Full Service
|
$
|
141
|
|
|
$
|
132
|
|
|
6.6
|
%
|
|
75.0
|
%
|
|
73.9
|
%
|
|
1.1
|
%
|
|
$
|
188
|
|
|
$
|
179
|
|
|
5.0
|
%
|
Americas Select Service
|
90
|
|
|
84
|
|
|
8.1
|
%
|
|
76.8
|
%
|
|
76.1
|
%
|
|
0.7
|
%
|
|
118
|
|
|
110
|
|
|
7.2
|
%
|
|
Year Ended December 31,
|
|
|
|
|
||||||||||||||||||||
(in millions, except percentages)
|
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
||||||||||||||||
Segment Adjusted EBITDA
|
$
|
295
|
|
|
$
|
253
|
|
|
$
|
233
|
|
|
$
|
42
|
|
|
16.6
|
%
|
|
$
|
20
|
|
|
8.6
|
%
|
|
Year Ended December 31,
|
|
|
|
|
||||||||||||||||||||
(in millions, except percentages)
|
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
||||||||||||||||
Segment Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Management, Franchise and Other Fees
|
$
|
91
|
|
|
$
|
88
|
|
|
$
|
83
|
|
|
$
|
3
|
|
|
3.4
|
%
|
|
$
|
5
|
|
|
6.0
|
%
|
Other Revenues from Managed Properties
|
87
|
|
|
74
|
|
|
74
|
|
|
13
|
|
|
17.6
|
%
|
|
—
|
|
|
—
|
%
|
|||||
Total Segment Revenues
|
$
|
178
|
|
|
$
|
162
|
|
|
$
|
157
|
|
|
$
|
16
|
|
|
9.9
|
%
|
|
$
|
5
|
|
|
3.2
|
%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||
2015
|
|
2014
|
|
Better /
(Worse)
|
|
2015
|
|
2014
|
|
Change in
Occ % pts
|
|
2015
|
|
2014
|
|
Better /
(Worse)
|
||||||||||||||
ASPAC Full Service
|
$
|
151
|
|
|
$
|
157
|
|
|
(3.5
|
)%
|
|
70.3
|
%
|
|
68.2
|
%
|
|
2.1
|
%
|
|
$
|
215
|
|
|
$
|
230
|
|
|
(6.3
|
)%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||
2014
|
|
2013
|
|
Better /
(Worse)
|
|
2014
|
|
2013
|
|
Change in
Occ % pts
|
|
2014
|
|
2013
|
|
Better /
(Worse)
|
||||||||||||||
ASPAC Full Service
|
$
|
158
|
|
|
$
|
155
|
|
|
2.0
|
%
|
|
69.1
|
%
|
|
67.0
|
%
|
|
2.1
|
%
|
|
$
|
229
|
|
|
$
|
231
|
|
|
(1.1
|
)%
|
|
Year Ended December 31,
|
|
|
|
|
||||||||||||||||||||
(in millions, except percentages)
|
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
||||||||||||||||
Segment Adjusted EBITDA
|
$
|
52
|
|
|
$
|
44
|
|
|
$
|
50
|
|
|
$
|
8
|
|
|
18.2
|
%
|
|
$
|
(6
|
)
|
|
(12.0
|
)%
|
|
Year Ended December 31,
|
|
|
|
|
||||||||||||||||||||
(in millions, except percentages)
|
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
||||||||||||||||
Segment Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Management and Other Fees
|
$
|
67
|
|
|
$
|
77
|
|
|
$
|
72
|
|
|
$
|
(10
|
)
|
|
(13.0
|
)%
|
|
$
|
5
|
|
|
6.9
|
%
|
Other Revenues from Managed Properties
|
58
|
|
|
53
|
|
|
45
|
|
|
5
|
|
|
9.4
|
%
|
|
8
|
|
|
17.8
|
%
|
|||||
Total Segment Revenues
|
$
|
125
|
|
|
$
|
130
|
|
|
$
|
117
|
|
|
$
|
(5
|
)
|
|
(3.8
|
)%
|
|
$
|
13
|
|
|
11.1
|
%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||
2015
|
|
2014
|
|
Better /
(Worse)
|
|
2015
|
|
2014
|
|
Change in
Occ % pts
|
|
2015
|
|
2014
|
|
Better /
(Worse)
|
||||||||||||||
EAME/SW Asia Full Service
|
$
|
136
|
|
|
$
|
152
|
|
|
(10.3
|
)%
|
|
65.6
|
%
|
|
65.4
|
%
|
|
0.2
|
%
|
|
$
|
207
|
|
|
$
|
231
|
|
|
(10.6
|
)%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||
2014
|
|
2013
|
|
Better /
(Worse)
|
|
2014
|
|
2013
|
|
Change in
Occ % pts
|
|
2014
|
|
2013
|
|
Better /
(Worse)
|
||||||||||||||
EAME/SW Asia Full Service
|
$
|
155
|
|
|
$
|
151
|
|
|
2.1
|
%
|
|
66.4
|
%
|
|
64.2
|
%
|
|
2.2
|
%
|
|
$
|
233
|
|
|
$
|
236
|
|
|
(1.3
|
)%
|
|
Year Ended December 31,
|
|
|
|
|
||||||||||||||||||||
(in millions, except percentages)
|
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
||||||||||||||||
Segment Adjusted EBITDA
|
$
|
32
|
|
|
$
|
40
|
|
|
$
|
40
|
|
|
$
|
(8
|
)
|
|
(20.0
|
)%
|
|
$
|
—
|
|
|
—
|
%
|
(in millions, except percentages)
|
Year Ended December 31,
|
||||||||||||||||||||||||
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
|||||||||||||||||
Corporate and other Revenues
|
$
|
40
|
|
|
$
|
105
|
|
|
$
|
99
|
|
|
$
|
(65
|
)
|
|
(61.9
|
)%
|
|
$
|
6
|
|
|
6.1
|
%
|
Corporate and other Adjusted EBITDA
|
$
|
(145
|
)
|
|
$
|
(131
|
)
|
|
$
|
(114
|
)
|
|
$
|
(14
|
)
|
|
(10.7
|
)%
|
|
$
|
(17
|
)
|
|
(14.9
|
)%
|
(in millions, except percentages)
|
Year Ended December 31,
|
||||||||||||||||||||||||
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014
|
|
Better / (Worse)
2014 vs 2013
|
|||||||||||||||||
Owned and leased hotels
|
$
|
493
|
|
|
$
|
522
|
|
|
$
|
471
|
|
|
$
|
(29
|
)
|
|
(5.6
|
)%
|
|
$
|
51
|
|
|
10.8
|
%
|
Americas management and franchising
|
295
|
|
|
253
|
|
|
233
|
|
|
42
|
|
|
16.6
|
%
|
|
20
|
|
|
8.6
|
%
|
|||||
ASPAC management and franchising
|
52
|
|
|
44
|
|
|
50
|
|
|
8
|
|
|
18.2
|
%
|
|
(6
|
)
|
|
(12.0
|
)%
|
|||||
EAME/SW Asia management
|
32
|
|
|
40
|
|
|
40
|
|
|
(8
|
)
|
|
(20.0
|
)%
|
|
—
|
|
|
—
|
%
|
|||||
Corporate and other
|
(145
|
)
|
|
(131
|
)
|
|
(114
|
)
|
|
(14
|
)
|
|
(10.7
|
)%
|
|
(17
|
)
|
|
(14.9
|
)%
|
|||||
Consolidated Adjusted EBITDA
|
$
|
727
|
|
|
$
|
728
|
|
|
$
|
680
|
|
|
$
|
(1
|
)
|
|
(0.1
|
)%
|
|
$
|
48
|
|
|
7.1
|
%
|
(in millions)
|
Year Ended December 31,
|
||||||||||||||||||||||||
2015
|
|
2014
|
|
2013
|
|
Better / (Worse)
2015 vs 2014 |
|
Better / (Worse)
2014 vs 2013 |
|||||||||||||||||
Adjusted EBITDA
|
$
|
727
|
|
|
$
|
728
|
|
|
$
|
680
|
|
|
$
|
(1
|
)
|
|
(0.1
|
)%
|
|
$
|
48
|
|
|
7.1
|
%
|
Equity earnings (losses) from unconsolidated hospitality ventures
|
(64
|
)
|
|
25
|
|
|
(1
|
)
|
|
(89
|
)
|
|
(356.0
|
)%
|
|
26
|
|
|
2,600.0
|
%
|
|||||
Gains on sales of real estate and other
|
9
|
|
|
311
|
|
|
125
|
|
|
(302
|
)
|
|
(97.1
|
)%
|
|
186
|
|
|
148.8
|
%
|
|||||
Asset impairments
|
(5
|
)
|
|
(17
|
)
|
|
(22
|
)
|
|
12
|
|
|
70.6
|
%
|
|
5
|
|
|
22.7
|
%
|
|||||
Other income (loss), net
|
(5
|
)
|
|
(17
|
)
|
|
17
|
|
|
12
|
|
|
70.6
|
%
|
|
(34
|
)
|
|
(200.0
|
)%
|
|||||
Net (income) loss attributable to noncontrolling interests
|
—
|
|
|
(2
|
)
|
|
2
|
|
|
2
|
|
|
100.0
|
%
|
|
(4
|
)
|
|
(200.0
|
)%
|
|||||
Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA
|
(80
|
)
|
|
(80
|
)
|
|
(68
|
)
|
|
—
|
|
|
—
|
%
|
|
(12
|
)
|
|
(17.6
|
)%
|
|||||
EBITDA
|
582
|
|
|
948
|
|
|
733
|
|
|
(366
|
)
|
|
(38.6
|
)%
|
|
215
|
|
|
29.3
|
%
|
|||||
Depreciation and amortization
|
(320
|
)
|
|
(354
|
)
|
|
(345
|
)
|
|
34
|
|
|
9.6
|
%
|
|
(9
|
)
|
|
(2.6
|
)%
|
|||||
Interest expense
|
(68
|
)
|
|
(71
|
)
|
|
(65
|
)
|
|
3
|
|
|
4.2
|
%
|
|
(6
|
)
|
|
(9.2
|
)%
|
|||||
Provision for income taxes
|
(70
|
)
|
|
(179
|
)
|
|
(116
|
)
|
|
109
|
|
|
60.9
|
%
|
|
(63
|
)
|
|
(54.3
|
)%
|
|||||
Net income attributable to Hyatt Hotels Corporation
|
$
|
124
|
|
|
$
|
344
|
|
|
$
|
207
|
|
|
$
|
(220
|
)
|
|
(64.0
|
)%
|
|
$
|
137
|
|
|
66.2
|
%
|
|
Year Ended December 31,
|
||||||||||
(in millions)
|
2015
|
|
2014
|
|
2013
|
||||||
Cash provided by (used in):
|
|
|
|
|
|
||||||
Operating activities
|
$
|
538
|
|
|
$
|
473
|
|
|
$
|
456
|
|
Investing activities
|
(47
|
)
|
|
373
|
|
|
(147
|
)
|
|||
Financing activities
|
(715
|
)
|
|
(607
|
)
|
|
(264
|
)
|
|||
Effects of changes in exchange rate on cash and cash equivalents
|
(4
|
)
|
|
(8
|
)
|
|
(4
|
)
|
|||
Net (decrease) increase in cash and cash equivalents
|
$
|
(228
|
)
|
|
$
|
231
|
|
|
$
|
41
|
|
•
|
purchased a net total of $121 million of marketable securities and short-term investments related to Hyatt Gold Passport and our insurance captive.
|
•
|
sold Hyatt Regency Indianapolis for approximately $69 million.
|
•
|
sold land and construction in progress for approximately $14 million.
|
•
|
sold a Hyatt House hotel for approximately $5 million.
|
•
|
two joint ventures in which we hold or held ownership interests and that are classified as equity method investments sold Hyatt House Miami Airport and Hyatt House Atlanta/Cobb Galleria to third parties for which we received proceeds of
$10 million
and
$6 million
, respectively.
|
•
|
released $19 million from restricted cash related to the development of a hotel in Brazil.
|
•
|
received net proceeds of $100 million from the maturity of time deposits.
|
•
|
released
$143 million
from escrow to cash and cash equivalents related to release of proceeds from like-kind exchanges.
|
•
|
invested a total of
$37 million
in investments which includes $35 million in unconsolidated hospitality ventures.
|
•
|
received proceeds of $28 million from financing receivables.
|
•
|
capital expenditures were
$269 million
(see "—Capital Expenditures" below).
|
•
|
purchased a net total of $101 million of marketable securities and short-term investments.
|
•
|
sold nine select service properties and one full service property for $310 million, net of closing costs and cash transferred, of which $232 million was classified as restricted cash in anticipation of consummation of a like-kind exchange agreement and was released upon the completion of the like-kind exchange.
|
•
|
sold a portfolio of 38 select service properties for approximately $581 million, of which $403 million was classified as restricted cash in anticipation of a like-kind exchange agreement, of which $311 million was subsequently released upon the completion of the like-kind exchange agreement. Accordingly, we classified net proceeds of
$92 million
as restricted cash on our consolidated balance sheets as of December 31, 2014.
|
•
|
sold Hyatt Residential Group for $222 million, which includes an interest in a joint venture that owns and is developing a vacation ownership property in Maui, Hawaii, as well as a full service hotel. The net proceeds of $220 million included working capital adjustments of $2 million.
|
•
|
sold Park Hyatt Washington for approximately $97 million, of which $97 million was classified as restricted cash in anticipation of a like-kind exchange agreement which was subsequently released upon the completion of the like-kind exchange.
|
•
|
sold Park Hyatt Toronto for approximately $88 million and Hyatt Regency Vancouver for $116 million, of which combined $87 million was classified as restricted cash pending clearance from the Canada Revenue Agency pursuant to Withholding Tax Escrow Agreements.
|
•
|
sold five Hyatt Place properties for $51 million, which was classified as restricted cash on our consolidated balance sheets as of December 31, 2014, in anticipation of a like-kind exchange agreement.
|
•
|
four joint ventures in which we held ownership interests and that are classified as equity method investments sold the following hotels to third parties: Hyatt Place Austin Downtown, Hyatt Regency DFW International Airport and another building, Hyatt Place Houston/Sugar Land, and Hyatt Place Coconut Point, for which we received cash of $64 million, of which $30 million related to investing activities.
|
•
|
acquired Park Hyatt New York, for $392 million, which included cash of $1 million, resulting in a net cash outflow of $391 million.
|
•
|
acquired Hyatt Regency Lost Pines Resort and Spa and adjacent land from an unconsolidated hospitality venture in which we hold an 8.2% interest. We purchased the hotel and adjacent land for a purchase price of approximately
$164
|
•
|
released $74 million from restricted cash in conjunction with the 2013 sale of Hyatt Key West and the consummation of a like-kind exchange agreement.
|
•
|
invested a total of
$114 million
in investments which includes $98 million in unconsolidated hospitality ventures.
|
•
|
received proceeds of $56 million, which primarily related to two mezzanine loan receivables.
|
•
|
capital expenditures were
$253 million
(see "Capital Expenditures" below).
|
•
|
received a total of $440 million in net proceeds from marketable securities and short-term investments.
|
•
|
sold seven full service properties for $497 million, net of closing costs, of which $437 million was classified as restricted cash in anticipation of consummation of a like-kind exchange agreement, of which $363 million was subsequently released.
|
•
|
received proceeds of $277 million related to a mortgage loan receivable.
|
•
|
sold four Hyatt Place properties for cash proceeds of $68 million, net of closing costs, of which $23 million was classified as restricted cash in anticipation of consummation of a like-kind exchange agreement which was subsequently released.
|
•
|
received $63 million as a return of our preferred equity investment in the entity that owns Hyatt Regency New Orleans.
|
•
|
released $44 million from restricted cash in conjunction with the sale of three Hyatt Place properties in 2012, as a like-kind exchange was not consummated within the allowable time frame.
|
•
|
invested a total of $428 million in unconsolidated hospitality ventures, which included $325 million for an investment in Playa and $68 million for an investment in Wailea Hotel and Beach Resort, LLC.
|
•
|
acquired The Peabody in Orlando, Florida for $716 million, which includes $2 million of cash received, and The Driskill in Austin, Texas for $85 million.
|
•
|
acquired the remaining 70% interest in the entity that owned Grand Hyatt San Antonio for $16 million, which includes $1 million of cash acquired, and repaid $44 million of mezzanine debt and consolidated $198 million of outstanding bonds that were held at the hospitality venture.
|
•
|
capital expenditures were $232 million (see "Capital Expenditures" below).
|
|
|
|
|
||||
(in millions, except percentages)
|
December 31, 2015
|
|
December 31, 2014
|
||||
Consolidated debt (1)
|
$
|
1,375
|
|
|
$
|
1,390
|
|
Stockholders’ equity
|
3,991
|
|
|
4,627
|
|
||
Total capital
|
5,366
|
|
|
6,017
|
|
||
Total debt to total capital
|
25.6
|
%
|
|
23.1
|
%
|
||
Consolidated debt (1)
|
1,375
|
|
|
1,390
|
|
||
Less: Cash and cash equivalents and short-term investments
|
503
|
|
|
815
|
|
||
Net consolidated debt (cash and short-term investments)
|
872
|
|
|
575
|
|
||
Net debt to total capital
|
16.3
|
%
|
|
9.6
|
%
|
(1)
|
Excludes approximately
$692 million
and $638 million of our share of unconsolidated hospitality venture indebtedness as of
December 31, 2015
and
December 31, 2014
, respectively, substantially all of which is non-recourse to us.
|
|
Year Ended December 31,
|
||||||||||
(in millions)
|
2015
|
|
2014
|
|
2013
|
||||||
Maintenance
|
$
|
110
|
|
|
$
|
102
|
|
|
$
|
90
|
|
Enhancements to existing properties
|
59
|
|
|
72
|
|
|
81
|
|
|||
Investment in new properties
|
100
|
|
|
79
|
|
|
61
|
|
|||
Total capital expenditures
|
$
|
269
|
|
|
$
|
253
|
|
|
$
|
232
|
|
Description
|
|
Principal
Amount (in millions)
|
||
3.875% Senior Notes due 2016
|
|
$
|
250
|
|
6.875% Senior Notes due 2019
|
|
196
|
|
|
5.375% Senior Notes due 2021
|
|
250
|
|
|
3.375% Senior Notes due 2023
|
|
350
|
|
|
Total
|
|
$
|
1,046
|
|
•
|
create any liens on our principal properties, or on the capital stock or debt of our subsidiaries that own or lease principal properties, to secure debt without also effectively providing that the Senior Notes are secured equally and ratably with such debt for so long as such debt is so secured; or
|
•
|
enter into any sale and leaseback transactions with respect to our principal properties.
|
(dollars in millions)
|
|
|
Payments Due by Period
|
||||||||||||||||||||||||
Total
|
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Thereafter
|
|||||||||||||||
Debt (1)
|
$
|
1,776
|
|
|
$
|
393
|
|
|
$
|
66
|
|
|
$
|
65
|
|
|
$
|
260
|
|
|
$
|
50
|
|
|
$
|
942
|
|
Capital lease obligations (1)
|
21
|
|
|
3
|
|
|
2
|
|
|
2
|
|
|
2
|
|
|
2
|
|
|
10
|
|
|||||||
Operating lease obligations
|
653
|
|
|
41
|
|
|
39
|
|
|
33
|
|
|
38
|
|
|
28
|
|
|
474
|
|
|||||||
Purchase obligations
|
59
|
|
|
57
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Other long-term liabilities (2)
|
357
|
|
|
2
|
|
|
2
|
|
|
2
|
|
|
1
|
|
|
1
|
|
|
349
|
|
|||||||
Total contractual obligations
|
$
|
2,866
|
|
|
$
|
496
|
|
|
$
|
111
|
|
|
$
|
102
|
|
|
$
|
301
|
|
|
$
|
81
|
|
|
$
|
1,775
|
|
(1)
|
Includes principal as well as interest payments. Assumes constant foreign exchange rates as of
December 31, 2015
for floating rate debt and international debt.
|
(2)
|
Primarily consists of deferred compensation plan liabilities. Excludes
$127 million
in long-term tax positions due to the uncertainty related to the timing of the reversal of those positions.
|
(dollars in millions)
|
|
|
Amount of Guarantee Commitments Expiration by Period
|
||||||||||||||||||||||||
Total Amounts Committed
|
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Thereafter
|
|||||||||||||||
Performance guarantees (1)
|
$
|
400
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
385
|
|
|
$
|
15
|
|
Debt repayment guarantees (2)
|
391
|
|
|
63
|
|
|
35
|
|
|
25
|
|
|
23
|
|
|
245
|
|
|
—
|
|
|||||||
Total guarantee commitments
|
$
|
791
|
|
|
$
|
63
|
|
|
$
|
35
|
|
|
$
|
25
|
|
|
$
|
23
|
|
|
$
|
630
|
|
|
$
|
15
|
|
(1)
|
Consists of contractual agreements with third-party owners which require us to guarantee payments to the owners if specified levels of operating profit are not achieved by their hotels.
|
(2)
|
Consists of various debt repayment guarantees with respect to certain hotels that we manage or franchise, primarily in which we also hold an equity investment. Certain of these underlying debt agreements have extension periods which are not reflected in the table above. With respect to certain of these debt repayment guarantees the Company has agreements with third parties which reduce our maximum guarantee which are not reflected in the table above.
|
(dollars in millions)
|
|
|
Amount of Investment Commitments Expected Funding by Period
|
||||||||||||||||||||||||
Total Amounts Committed
|
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Thereafter
|
|||||||||||||||
Investment commitments
|
$
|
149
|
|
|
$
|
85
|
|
|
$
|
39
|
|
|
$
|
5
|
|
|
$
|
6
|
|
|
$
|
1
|
|
|
$
|
13
|
|
•
|
determine whether or not a triggering event has occurred. The final determination of the occurrence of a triggering event is based on our knowledge of the hospitality industry, historical experience, location of the property, market conditions and property-specific information as applicable available at the time of the assessment. We realize, however, that the results of our analysis could vary from period to period depending on how our judgment is applied and the facts and circumstances available at the time of the analysis;
|
•
|
determine the projected undiscounted future operating cash flows when necessary. The principal factor used in the undiscounted cash flow analysis requiring judgment is our estimates regarding long-term growth and costs which are based on historical data, various internal estimates and a variety of external sources and are developed as part of our routine, long-term planning process; and
|
•
|
determine the estimated fair value of the respective long-lived asset when necessary. In determining the fair value of a long lived asset, we typically use internally developed discounted cash flow models. The principal factors used in the discounted cash flow analysis requiring judgment are the projected future operating cash flows, the discount rates and the terminal value growth rate assumptions. Our estimates of long-term growth and costs are based on historical data, various internal estimates and a variety of external sources.
|
•
|
whether or not there is an indication that a loss in value has occurred. The final determination of whether a loss in value has occurred is based on our knowledge of the hospitality industry, historical experience, location of the underlying venture property, market conditions and venture-specific information available at the time of the assessment;
|
•
|
the estimated fair value of the unconsolidated hospitality venture when necessary. In determining the fair value of an unconsolidated hospitality venture we typically utilize internally developed discounted cash flow models. The principal factors used in the discounted cash flow analysis requiring judgment are the projected future cash flows of the venture, the discount rates and the terminal value growth rate assumptions. Our estimates of long-term growth and costs are based on the unconsolidated hospitality venture’s historical data, various internal estimates and a variety of external sources; and
|
•
|
whether a decline in value is deemed to be other than temporary. The final determination is based on our review of the consideration factors mentioned above, as well as our knowledge of the hospitality industry, historical experience, location of the underlying venture property, market conditions and venture-specific information available at the time of the assessment.
|
(in millions)
|
December 31, 2015
|
|
December 31, 2014
|
||||
Pound Sterling
|
$
|
170
|
|
|
$
|
171
|
|
Canadian Dollar
|
61
|
|
|
72
|
|
||
Korean Won
|
33
|
|
|
32
|
|
||
Indian Rupee
|
27
|
|
|
—
|
|
||
Swiss Franc
|
9
|
|
|
10
|
|
||
Brazilian Real
|
4
|
|
|
—
|
|
||
Total notional amount of forward contracts
|
$
|
304
|
|
|
$
|
285
|
|
Item 10.
|
Directors, Executive Officers and Corporate Governance.
|
Item 11.
|
Executive Compensation.
|
Item 12.
|
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
|
Plan Category
|
|
Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights
|
|
|
Weighted Average Exercise Price of Outstanding Options
|
|
|
Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in the First Column)
|
|
|||
Equity Compensation Plans Approved by Security Holders
|
|
5,600,663
|
|
(1)
|
|
$47.58
|
(2)
|
|
6,626,178
|
|
(3)
|
|
Equity Compensation Plans Not Approved by Security Holders
|
|
—
|
|
|
|
—
|
|
|
|
1,469,195
|
|
(4)
|
Total
|
|
5,600,663
|
|
|
|
$47.58
|
|
|
8,095,373
|
|
|
Item 14.
|
Principal Accountant Fees and Services.
|
Item 15.
|
Exhibits and Financial Statement Schedule.
|
(a)
|
Financial Statements
|
|
Page
|
F- 1
|
|
F- 2
|
|
F- 3
|
|
F- 4
|
|
F- 5
|
|
F- 6
|
|
F- 7
|
|
F- 9
|
|
F- 10
|
(b)
|
Financial Statement Schedule
|
(c)
|
Exhibits
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
By:
|
/s/ Mark S. Hoplamazian
|
|
|
Mark S. Hoplamazian
|
|
|
President and Chief Executive Officer
|
|
|
|
Date: February 18, 2016
|
|
|
Signature
|
Titles
|
Date
|
|
|
|
/s/ Mark S. Hoplamazian
|
President, Chief Executive Officer and Director (Principal Executive Officer)
|
February 18, 2016
|
Mark S. Hoplamazian
|
||
/s/ Atish Shah
|
Senior Vice President, Interim Chief Financial Officer (Principal Financial Officer)
|
February 18, 2016
|
Atish Shah
|
||
/s/ Bradley O'Bryan
|
Senior Vice President, Corporate Controller (Principal Accounting Officer)
|
February 18, 2016
|
Bradley O'Bryan
|
||
/s/ Thomas J. Pritzker
|
Executive Chairman of the Board
|
February 18, 2016
|
Thomas J. Pritzker
|
|
|
/s/ Richard A. Friedman
|
Director
|
February 18, 2016
|
Richard A. Friedman
|
|
|
/s/ Susan D. Kronick
|
Director
|
February 18, 2016
|
Susan D. Kronick
|
|
|
/s/ Mackey J. McDonald
|
Director
|
February 18, 2016
|
Mackey J. McDonald
|
|
|
/s/ Cary D. McMillan
|
Director
|
February 18, 2016
|
Cary D. McMillan
|
|
|
/s/ Pamela M. Nicholson
|
Director
|
February 18, 2016
|
Pamela M. Nicholson
|
|
|
/s/ Jason Pritzker
|
Director
|
February 18, 2016
|
Jason Pritzker
|
|
|
/s/ Michael A. Rocca
|
Director
|
February 18, 2016
|
Michael A. Rocca
|
|
|
/s/ Richard C. Tuttle
|
Director
|
February 18, 2016
|
Richard C. Tuttle
|
|
|
/s/ James H. Wooten, Jr.
|
Director
|
February 18, 2016
|
James H. Wooten, Jr.
|
|
|
/s/ William Wrigley, Jr.
|
Director
|
February 18, 2016
|
William Wrigley, Jr.
|
|
/s/ Mark S. Hoplamazian
|
Mark S. Hoplamazian
President & Chief Executive Officer
|
/s/ Atish Shah
|
Atish Shah
Senior Vice President, Interim Chief Financial Officer
|
|
2015
|
|
2014
|
|
2013
|
||||||
REVENUES:
|
|
|
|
|
|
||||||
Owned and leased hotels
|
$
|
2,079
|
|
|
$
|
2,246
|
|
|
$
|
2,142
|
|
Management and franchise fees
|
427
|
|
|
387
|
|
|
342
|
|
|||
Other revenues
|
36
|
|
|
75
|
|
|
78
|
|
|||
Other revenues from managed properties
|
1,786
|
|
|
1,707
|
|
|
1,622
|
|
|||
Total revenues
|
4,328
|
|
|
4,415
|
|
|
4,184
|
|
|||
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
|
|
|
|
|
|
||||||
Owned and leased hotels
|
1,562
|
|
|
1,691
|
|
|
1,629
|
|
|||
Depreciation and amortization
|
320
|
|
|
354
|
|
|
345
|
|
|||
Other direct costs
|
29
|
|
|
35
|
|
|
32
|
|
|||
Selling, general, and administrative
|
308
|
|
|
349
|
|
|
323
|
|
|||
Other costs from managed properties
|
1,786
|
|
|
1,707
|
|
|
1,622
|
|
|||
Direct and selling, general, and administrative expenses
|
4,005
|
|
|
4,136
|
|
|
3,951
|
|
|||
Net gains and interest income from marketable securities held to fund operating programs
|
4
|
|
|
15
|
|
|
34
|
|
|||
Equity earnings (losses) from unconsolidated hospitality ventures
|
(64
|
)
|
|
25
|
|
|
(1
|
)
|
|||
Interest expense
|
(68
|
)
|
|
(71
|
)
|
|
(65
|
)
|
|||
Gains on sales of real estate and other
|
9
|
|
|
311
|
|
|
125
|
|
|||
Asset impairments
|
(5
|
)
|
|
(17
|
)
|
|
(22
|
)
|
|||
Other income (loss), net
|
(5
|
)
|
|
(17
|
)
|
|
17
|
|
|||
INCOME BEFORE INCOME TAXES
|
194
|
|
|
525
|
|
|
321
|
|
|||
PROVISION FOR INCOME TAXES
|
(70
|
)
|
|
(179
|
)
|
|
(116
|
)
|
|||
NET INCOME
|
124
|
|
|
346
|
|
|
205
|
|
|||
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS
|
—
|
|
|
(2
|
)
|
|
2
|
|
|||
NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION
|
$
|
124
|
|
|
$
|
344
|
|
|
$
|
207
|
|
EARNINGS PER SHARE—Basic
|
|
|
|
|
|
||||||
Net Income
|
$
|
0.87
|
|
|
$
|
2.26
|
|
|
$
|
1.29
|
|
Net income attributable to Hyatt Hotels Corporation
|
$
|
0.87
|
|
|
$
|
2.25
|
|
|
$
|
1.30
|
|
EARNINGS PER SHARE—Diluted
|
|
|
|
|
|
||||||
Net Income
|
$
|
0.86
|
|
|
$
|
2.24
|
|
|
$
|
1.29
|
|
Net income attributable to Hyatt Hotels Corporation
|
$
|
0.86
|
|
|
$
|
2.23
|
|
|
$
|
1.30
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
Net income
|
$
|
124
|
|
|
$
|
346
|
|
|
$
|
205
|
|
Other comprehensive income (loss), net of taxes:
|
|
|
|
|
|
||||||
Foreign currency translation adjustments, net of tax (benefit) expense of $(2), $1, and $1 for the years ended December 31, 2015, December 31, 2014, and December 31, 2013, respectively
|
(102
|
)
|
|
(93
|
)
|
|
(8
|
)
|
|||
Unrealized gains on available for sale securities, net of tax (benefit) expense of $21, $2, and $1 for the years ended December 31, 2015, December 31, 2014, and December 31, 2013, respectively
|
33
|
|
|
—
|
|
|
6
|
|
|||
Unrecognized pension (cost) benefit, net of tax (benefit) expense of $-, $(1), and $1 for the years ended December 31, 2015, December 31, 2014, and December 31, 2013, respectively
|
(2
|
)
|
|
—
|
|
|
1
|
|
|||
Unrealized gains on derivative activity, net of tax (benefit) expense of $1, $1, and $- for the years ended December 31, 2015, December 31, 2014, and December 31, 2013, respectively
|
1
|
|
|
1
|
|
|
—
|
|
|||
Other comprehensive loss
|
(70
|
)
|
|
(92
|
)
|
|
(1
|
)
|
|||
COMPREHENSIVE INCOME
|
54
|
|
|
254
|
|
|
204
|
|
|||
COMPREHENSIVE (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS
|
—
|
|
|
(2
|
)
|
|
2
|
|
|||
COMPREHENSIVE INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION
|
$
|
54
|
|
|
$
|
252
|
|
|
$
|
206
|
|
|
2015
|
|
2014
|
||||
ASSETS
|
|
|
|
||||
CURRENT ASSETS:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
457
|
|
|
$
|
685
|
|
Restricted cash
|
96
|
|
|
359
|
|
||
Short-term investments
|
46
|
|
|
130
|
|
||
Receivables, net of allowances of $15 and $13 at December 31, 2015 and December 31, 2014, respectively
|
298
|
|
|
274
|
|
||
Inventories
|
12
|
|
|
17
|
|
||
Prepaids and other assets
|
152
|
|
|
108
|
|
||
Prepaid income taxes
|
63
|
|
|
47
|
|
||
Deferred tax assets
|
—
|
|
|
26
|
|
||
Assets held for sale
|
—
|
|
|
63
|
|
||
Total current assets
|
1,124
|
|
|
1,709
|
|
||
Investments
|
327
|
|
|
334
|
|
||
Property and equipment, net
|
4,031
|
|
|
4,186
|
|
||
Financing receivables, net of allowances
|
20
|
|
|
40
|
|
||
Goodwill
|
129
|
|
|
133
|
|
||
Intangibles, net
|
547
|
|
|
552
|
|
||
Deferred tax assets
|
301
|
|
|
196
|
|
||
Other assets
|
1,117
|
|
|
993
|
|
||
TOTAL ASSETS
|
$
|
7,596
|
|
|
$
|
8,143
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
CURRENT LIABILITIES:
|
|
|
|
||||
Current maturities of long-term debt
|
$
|
328
|
|
|
$
|
9
|
|
Accounts payable
|
141
|
|
|
130
|
|
||
Accrued expenses and other current liabilities
|
516
|
|
|
468
|
|
||
Accrued compensation and benefits
|
122
|
|
|
120
|
|
||
Liabilities held for sale
|
—
|
|
|
3
|
|
||
Total current liabilities
|
1,107
|
|
|
730
|
|
||
Long-term debt
|
1,047
|
|
|
1,381
|
|
||
Other long-term liabilities
|
1,447
|
|
|
1,401
|
|
||
Total liabilities
|
3,601
|
|
|
3,512
|
|
||
Commitments and contingencies (see Note 14)
|
|
|
|
||||
EQUITY:
|
|
|
|
||||
Preferred stock, $0.01 par value per share, 10,000,000 shares authorized and none outstanding as of December 31, 2015 and December 31, 2014
|
—
|
|
|
—
|
|
||
Class A common stock, $0.01 par value per share, 1,000,000,000 shares authorized, 26,604,687 issued and outstanding at December 31, 2015, Class B common stock, $0.01 par value per share, 441,623,374 shares authorized, 109,628,962 shares issued and outstanding at December 31, 2015 and Class A common stock, $0.01 par value per share, 1,000,000,000 shares authorized, 37,676,490 outstanding and 37,712,763 issued at December 31, 2014, Class B common stock, $0.01 par value per share, 443,399,875 shares authorized, 111,405,463 shares issued and outstanding at December 31, 2014
|
1
|
|
|
2
|
|
||
Additional paid-in capital
|
1,931
|
|
|
2,621
|
|
||
Retained earnings
|
2,289
|
|
|
2,165
|
|
||
Treasury stock at cost, 0 shares and 36,273 shares at December 31, 2015 and December 31, 2014, respectively
|
—
|
|
|
(1
|
)
|
||
Accumulated other comprehensive loss
|
(230
|
)
|
|
(160
|
)
|
||
Total stockholders’ equity
|
3,991
|
|
|
4,627
|
|
||
Noncontrolling interests in consolidated subsidiaries
|
4
|
|
|
4
|
|
||
Total equity
|
3,995
|
|
|
4,631
|
|
||
TOTAL LIABILITIES AND EQUITY
|
$
|
7,596
|
|
|
$
|
8,143
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
|
|
||||||
Net income
|
$
|
124
|
|
|
$
|
346
|
|
|
$
|
205
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
320
|
|
|
354
|
|
|
345
|
|
|||
Amortization of share awards
|
26
|
|
|
52
|
|
|
27
|
|
|||
Deferred income taxes
|
(103
|
)
|
|
(28
|
)
|
|
(7
|
)
|
|||
Asset impairments
|
5
|
|
|
17
|
|
|
22
|
|
|||
Provisions (recoveries) on hotel loans
|
(6
|
)
|
|
—
|
|
|
6
|
|
|||
Equity (earnings) losses from unconsolidated hospitality ventures, net of distributions received
|
100
|
|
|
54
|
|
|
50
|
|
|||
Gains on sales of real estate and other
|
(9
|
)
|
|
(311
|
)
|
|
(125
|
)
|
|||
Foreign currency losses
|
14
|
|
|
3
|
|
|
5
|
|
|||
Other
|
42
|
|
|
(38
|
)
|
|
(41
|
)
|
|||
Increase (decrease) in cash attributable to changes in assets and liabilities:
|
|
|
|
|
|
||||||
Restricted cash
|
78
|
|
|
(18
|
)
|
|
(73
|
)
|
|||
Receivables, net
|
29
|
|
|
(28
|
)
|
|
(9
|
)
|
|||
Inventories
|
1
|
|
|
8
|
|
|
3
|
|
|||
Prepaid income taxes
|
(16
|
)
|
|
(53
|
)
|
|
16
|
|
|||
Accounts payable, accrued expenses and other current liabilities
|
(7
|
)
|
|
186
|
|
|
71
|
|
|||
Accrued compensation and benefits
|
5
|
|
|
(9
|
)
|
|
(5
|
)
|
|||
Other long-term liabilities
|
1
|
|
|
(19
|
)
|
|
(6
|
)
|
|||
Other, net
|
(66
|
)
|
|
(43
|
)
|
|
(28
|
)
|
|||
Net cash provided by operating activities
|
538
|
|
|
473
|
|
|
456
|
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
|
|
|
|
|
|
||||||
Purchases of marketable securities and short-term investments
|
|
$
|
(530
|
)
|
|
$
|
(421
|
)
|
|
$
|
(301
|
)
|
Proceeds from marketable securities and short-term investments
|
|
521
|
|
|
320
|
|
|
741
|
|
|||
Contributions to investments
|
|
(37
|
)
|
|
(114
|
)
|
|
(428
|
)
|
|||
Proceeds from sale of investments
|
|
3
|
|
|
—
|
|
|
—
|
|
|||
Return of investment
|
|
19
|
|
|
57
|
|
|
86
|
|
|||
Acquisitions, net of cash acquired
|
|
(3
|
)
|
|
(548
|
)
|
|
(814
|
)
|
|||
Capital expenditures
|
|
(269
|
)
|
|
(253
|
)
|
|
(232
|
)
|
|||
Proceeds from financing receivables
|
|
28
|
|
|
56
|
|
|
279
|
|
|||
Proceeds from sales of real estate and other, net of cash disposed
|
|
88
|
|
|
1,467
|
|
|
601
|
|
|||
Sales proceeds transferred to escrow as restricted cash
|
|
—
|
|
|
(870
|
)
|
|
(498
|
)
|
|||
Sales proceeds transferred from escrow to cash and cash equivalents
|
|
143
|
|
|
714
|
|
|
466
|
|
|||
(Increase) decrease in restricted cash—investing
|
|
19
|
|
|
(8
|
)
|
|
(9
|
)
|
|||
Other investing activities
|
|
(29
|
)
|
|
(27
|
)
|
|
(38
|
)
|
|||
Net cash (used in) provided by investing activities
|
|
(47
|
)
|
|
373
|
|
|
(147
|
)
|
|||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
|
|
|
|
|
|
||||||
Proceeds from long-term debt, net of issuance costs of $-, $-, and $3, respectively
|
|
12
|
|
|
249
|
|
|
385
|
|
|||
Repayments of long-term debt
|
|
(5
|
)
|
|
(208
|
)
|
|
(368
|
)
|
|||
Repurchase of common stock
|
|
(715
|
)
|
|
(443
|
)
|
|
(275
|
)
|
|||
Repayment of capital lease obligation
|
|
—
|
|
|
(191
|
)
|
|
—
|
|
|||
Other financing activities
|
|
(7
|
)
|
|
(14
|
)
|
|
(6
|
)
|
|||
Net cash used in financing activities
|
|
(715
|
)
|
|
(607
|
)
|
|
(264
|
)
|
|||
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
|
|
(4
|
)
|
|
(8
|
)
|
|
(4
|
)
|
|||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
|
|
(228
|
)
|
|
231
|
|
|
41
|
|
|||
CASH AND CASH EQUIVALENTS—BEGINNING OF YEAR
|
|
685
|
|
|
454
|
|
|
413
|
|
|||
CASH AND CASH EQUIVALENTS—END OF PERIOD
|
|
$
|
457
|
|
|
$
|
685
|
|
|
$
|
454
|
|
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
|
|
|
|
|
|
|
||||||
Cash paid during the period for interest
|
|
$
|
69
|
|
|
$
|
71
|
|
|
$
|
66
|
|
Cash paid during the period for income taxes
|
|
$
|
145
|
|
|
$
|
267
|
|
|
$
|
119
|
|
Non-cash operating activities are as follows:
|
|
|
|
|
|
|
||||||
Non-cash debt repayment guarantees
|
|
$
|
36
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Non-cash performance guarantee
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
128
|
|
Non-cash investing activities are as follows:
|
|
|
|
|
|
|
||||||
Non-cash contributions to investments
|
|
$
|
17
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Non-cash management and franchise agreement intangibles
|
|
$
|
3
|
|
|
$
|
—
|
|
|
$
|
128
|
|
Change in accrued capital expenditures
|
|
$
|
6
|
|
|
$
|
4
|
|
|
$
|
(7
|
)
|
|
Total
|
|
Common Stock Amount
|
|
Additional Paid-in Capital
|
|
Retained Earnings
|
|
Treasury Stock Amount
|
|
Accumulated Other Comprehensive Loss
|
|
Noncontrolling Interests in Consolidated Subsidiaries
|
||||||||||||||
BALANCE—January 1, 2013
|
$
|
4,821
|
|
|
$
|
2
|
|
|
$
|
3,263
|
|
|
$
|
1,614
|
|
|
$
|
(1
|
)
|
|
$
|
(67
|
)
|
|
$
|
10
|
|
Total comprehensive income
|
204
|
|
|
—
|
|
|
—
|
|
|
207
|
|
|
—
|
|
|
(1
|
)
|
|
(2
|
)
|
|||||||
Repurchase of common stock
|
(275
|
)
|
|
—
|
|
|
(275
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Directors compensation
|
2
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Employee stock plan issuance
|
3
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Share based payment activity
|
22
|
|
|
—
|
|
|
22
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
BALANCE—December 31, 2013
|
$
|
4,777
|
|
|
$
|
2
|
|
|
$
|
3,015
|
|
|
$
|
1,821
|
|
|
$
|
(1
|
)
|
|
$
|
(68
|
)
|
|
$
|
8
|
|
Total comprehensive income
|
254
|
|
|
—
|
|
|
—
|
|
|
344
|
|
|
—
|
|
|
(92
|
)
|
|
2
|
|
|||||||
Disposals of shares in noncontrolling interests
|
(4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
|||||||
Repurchase of common stock
|
(445
|
)
|
|
—
|
|
|
(445
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Directors compensation
|
2
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Employee stock plan issuance
|
3
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Share based payment activity
|
45
|
|
|
—
|
|
|
45
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Other
|
(1
|
)
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2
|
)
|
|||||||
BALANCE—December 31, 2014
|
$
|
4,631
|
|
|
$
|
2
|
|
|
$
|
2,621
|
|
|
$
|
2,165
|
|
|
$
|
(1
|
)
|
|
$
|
(160
|
)
|
|
$
|
4
|
|
Total comprehensive income
|
54
|
|
|
—
|
|
|
—
|
|
|
124
|
|
|
—
|
|
|
(70
|
)
|
|
—
|
|
|||||||
Repurchase of common stock
|
(715
|
)
|
|
(1
|
)
|
|
(714
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Directors compensation
|
2
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Employee stock plan issuance
|
3
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Share based payment activity
|
20
|
|
|
—
|
|
|
19
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|||||||
BALANCE—December 31, 2015
|
$
|
3,995
|
|
|
$
|
1
|
|
|
$
|
1,931
|
|
|
$
|
2,289
|
|
|
$
|
—
|
|
|
$
|
(230
|
)
|
|
$
|
4
|
|
•
|
Owned and leased hotels revenues are derived from room rentals and services provided at our owned and leased properties and are recorded when rooms are occupied and services have been rendered. Sales and occupancy taxes are recorded on a net basis in the
consolidated statements of income
.
|
•
|
Management and franchise fees earned from hotels managed and franchised worldwide:
|
–
|
Management fees primarily consist of a base fee, which is generally computed as a percentage of gross revenues, and an incentive fee, which is generally computed based on a hotel profitability measure. Base fee revenues are recognized when earned in accordance with the terms of the contract. We recognize incentive fees that would be due as if the contract were to terminate at that date, exclusive of any termination fees payable or receivable by us.
|
–
|
Realized gains from the sale of hotel real estate assets where we maintain substantial continuing involvement in the form of a
long-
term management contract are deferred and recognized as management fee revenue over the term of the underlying management contract.
|
–
|
Franchise fees consist of an initial application fee and continuing royalty fees calculated based on a percentage of gross room revenues and in certain circumstances, food and beverage revenues and are recognized as the fees are earned and become due from the franchisee and when all material services or conditions relating to the sale have been substantially performed or satisfied by the franchisor.
|
•
|
Other revenues
|
–
|
Other revenues includes revenues from our co-branded credit card. We recognize revenue from our co-branded credit card upon: (1) the sale of points to our third-party partner and (2) the fulfillment or expiration of a card member's activation offer. We receive incentive fees from our third-party partner upon activation of each credit card, which we defer until the associated compensated nights awarded on member activation are redeemed or expired.
|
–
|
Other revenues also includes revenues from our vacation ownership business, earned through the date of the sale of the business in the fourth quarter of 2014. Prior to the sale, we recognized vacation ownership revenue when a minimum of 10% of the purchase price for the interval had been received, the period of cancellation with refund had expired, and receivables were deemed collectible. For sales that did not qualify for full revenue recognition, as the project had progressed beyond the preliminary stages, but had not yet reached completion, all revenue and associated direct expenses were initially deferred and recognized in earnings through the
percentage-
of-
completion method. As a result of the disposition, we earn license fees that are recorded to management and franchise fees on our consolidated statements of income.
|
•
|
Other revenues from managed properties represent the reimbursement of costs incurred on behalf of the owners of hotel properties we manage. These costs relate primarily to payroll costs at managed properties where we are the employer. Since the reimbursements are made based upon the costs incurred with no added margin, these revenues and corresponding expenses have no effect on our net income.
|
•
|
sales proceeds of
$70 million
and
$87 million
, respectively, related to the 2014 disposition of two Canadian hotels, which remain in restricted cash as the Canadian tax regulations require a portion of the proceeds to be classified as restricted (see Note
7
);
|
•
|
$13 million
and
$9 million
, respectively, related to debt service on bonds that were acquired in connection with the acquisition of the entity that owned Grand Hyatt San Antonio (see Note
9
); in addition, we have
$10 million
and
$9 million
, respectively, recorded in other assets; and
|
•
|
$7 million
and
$88 million
, respectively, related to our captive insurance subsidiary for minimum capital and surplus requirements in accordance with local insurance regulations (see Note
14
).
|
•
|
Secured Financing to Hotel Owners—These financing receivables are senior, secured mortgage loans and are collateralized by underlying hotel properties currently in operation.
|
•
|
Unsecured Financing to Hotel Owners—These financing receivables are primarily made up of individual loans and other types of unsecured financing arrangements provided to hotel owners. These financing receivables have stated maturities and interest rates, however, the repayment terms vary and may be dependent upon future cash flows of the hotel.
|
Management and franchise agreement intangibles
|
Initial term of management or franchise agreement
|
Lease related intangibles
|
Lease term
|
Advanced booking intangibles
|
Period of the advanced bookings
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
Current Assets
|
$
|
179
|
|
|
$
|
145
|
|
Noncurrent Assets
|
280
|
|
|
284
|
|
||
Total Assets
|
$
|
459
|
|
|
$
|
429
|
|
|
|
|
|
||||
Current Liabilities
|
$
|
179
|
|
|
$
|
145
|
|
Noncurrent Liabilities
|
280
|
|
|
284
|
|
||
Total Liabilities
|
$
|
459
|
|
|
$
|
429
|
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
Equity method investments
|
$
|
304
|
|
|
$
|
311
|
|
Cost method investments
|
23
|
|
|
23
|
|
||
Total investments
|
$
|
327
|
|
|
$
|
334
|
|
|
Ownership Interests
|
|
Investment Balance
|
|||||||
December 31, 2015
|
|
December 31, 2014
|
||||||||
Wailea Hotel Holdings, L.L.C.
|
66.6
|
%
|
|
$
|
125
|
|
|
$
|
136
|
|
Juniper Hotels Private Limited
|
50.0
|
%
|
|
44
|
|
|
34
|
|
||
Playa Hotels & Resorts B.V.
|
23.7
|
%
|
|
28
|
|
|
45
|
|
||
Desarrolladora Hotel Acueducto S. de R.L. de C.V.
|
50.0
|
%
|
|
15
|
|
|
8
|
|
||
Hotel Hoyo Uno, S. de R.L. de C.V.
|
40.0
|
%
|
|
14
|
|
|
20
|
|
||
San Jose Hotel Partners, L.L.C.
|
40.0
|
%
|
|
12
|
|
|
—
|
|
||
Other
|
|
|
66
|
|
|
68
|
|
|||
Total
|
|
|
$
|
304
|
|
|
$
|
311
|
|
|
Years Ended December 31,
|
||||||||||
2015
|
|
2014
|
|
2013
|
|||||||
Total revenues
|
$
|
1,079
|
|
|
$
|
1,192
|
|
|
$
|
978
|
|
Gross operating profit
|
312
|
|
|
329
|
|
|
315
|
|
|||
Income from continuing operations
|
33
|
|
|
31
|
|
|
17
|
|
|||
Net income
|
33
|
|
|
31
|
|
|
17
|
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
Current Assets
|
$
|
472
|
|
|
$
|
476
|
|
Noncurrent Assets
|
2,877
|
|
|
2,728
|
|
||
Total Assets
|
$
|
3,349
|
|
|
$
|
3,204
|
|
|
|
|
|
||||
Current Liabilities
|
$
|
625
|
|
|
$
|
492
|
|
Noncurrent Liabilities
|
1,752
|
|
|
1,708
|
|
||
Total Liabilities
|
$
|
2,377
|
|
|
$
|
2,200
|
|
•
|
Joint ventures in which we hold or held an ownership interest, which are classified as equity method investments within our owned and leased hotels segment, sold Hyatt House Miami Airport and Hyatt House Atlanta/Cobb Galleria, for which we received proceeds of
$10 million
and
$6 million
, respectively. We recorded a gain of
$8 million
and
$5 million
, respectively, in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income.
|
•
|
We sold an entity which held an interest in one of our foreign currency denominated equity method investments within our owned and leased hotels segment, for which we received proceeds of
$3 million
. In connection with the sale, we released
$21 million
of accumulated foreign currency translation losses, which has been recorded to equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income.
|
•
|
We purchased Hyatt Regency Lost Pines Resort and Spa and adjacent land from a joint venture in which we held an
8.2%
interest, for a net purchase price of approximately
$164 million
. This transaction was accounted for as a step acquisition and we recorded a gain of
$12 million
in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income in our owned and leased hotels segment. See Note
7
for further discussion of our acquisition.
|
•
|
Joint ventures in which we held an ownership interest and which were classified as equity method investments within our owned and leased hotels segment, sold the following hotels to third parties, resulting in deferred gains that are being amortized over the term of the management agreements in management and franchise fees within the Americas management and franchising segment:
|
•
|
Hyatt Place Houston/Sugar Land, for which we received proceeds of
$12 million
and recorded a deferred gain of
$10 million
; and
|
•
|
Hyatt Regency DFW International Airport and another building, for which we received proceeds of
$19 million
and recorded a deferred gain of
$18 million
.
|
•
|
Joint ventures in which we held an ownership interest and which were classified as equity method investments within our owned and leased hotels segment, sold the following hotels to third parties, resulting in gains being recorded to equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income:
|
•
|
Hyatt Place Coconut Point, for which we received proceeds of
$5 million
and recorded a gain of
$2 million
; and
|
•
|
Hyatt Place Austin Downtown, for which we received proceeds of
$28 million
and we recorded a gain of
$20 million
.
|
•
|
We recorded income from cost method investments of
$50 million
in other income (loss), net on our consolidated statements of income. We received a return of our
$63 million
investment and a
$30 million
return on our preferred equity interest in a joint venture that owned Hyatt Regency New Orleans. Additionally, our partner in the joint venture executed its option to purchase our residual common investment interest in the venture resulting in a
$20 million
distribution (see Note
20
).
The investment was included in our owned and leased hotels segment. We continue to manage the property under the existing management agreement; and
|
•
|
A joint venture in which we held an interest and classified as an equity method investment within our owned and leased hotels segment, sold the hotel it owned and dissolved the venture. As a result of this transaction, we received a
$5 million
distribution, which was recorded as a deferred gain and is being amortized over the remaining term of our management agreement in management and franchise fees within the Americas management and franchising segment.
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
Marketable securities held by the Hyatt Gold Passport Fund (Note 2)
|
$
|
384
|
|
|
$
|
357
|
|
Marketable securities held to fund deferred compensation plans (Note 12)
|
333
|
|
|
341
|
|
||
Marketable securities held to fund our captive insurance company
|
82
|
|
|
—
|
|
||
Total marketable securities held to fund operating programs
|
$
|
799
|
|
|
$
|
698
|
|
Less current portion of marketable securities held for operating programs included in cash and cash equivalents, short-term investments, and prepaids and other assets
|
(121
|
)
|
|
(73
|
)
|
||
Marketable securities held to fund operating programs included in other assets
|
$
|
678
|
|
|
$
|
625
|
|
|
Years Ended December 31,
|
||||||||||
2015
|
|
2014
|
|
2013
|
|||||||
Hyatt Gold Passport Fund
|
$
|
1
|
|
|
$
|
3
|
|
|
$
|
(1
|
)
|
Deferred compensation plans
|
3
|
|
|
12
|
|
|
35
|
|
|||
Total net gains and interest income from marketable securities held to fund operating programs
|
$
|
4
|
|
|
$
|
15
|
|
|
$
|
34
|
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
Interest bearing money market funds
|
$
|
5
|
|
|
$
|
51
|
|
Time deposits
|
30
|
|
|
130
|
|
||
Preferred shares
|
335
|
|
|
280
|
|
|
December 31, 2015
|
|
Cash and Cash Equivalents
|
|
Short-term Investments
|
|
Prepaids and Other Assets
|
|
Other Assets
|
||||||||||
Level One - Quoted Prices in Active Markets for Identical Assets
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest bearing money market funds
|
$
|
18
|
|
|
$
|
18
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Mutual funds
|
333
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
333
|
|
|||||
Level Two - Significant Other Observable Inputs
|
|
|
|
|
|
|
|
|
|
||||||||||
Time deposits
|
45
|
|
|
—
|
|
|
38
|
|
|
—
|
|
|
7
|
|
|||||
U.S. government obligations
|
131
|
|
|
—
|
|
|
—
|
|
|
32
|
|
|
99
|
|
|||||
U.S. government agencies
|
83
|
|
|
—
|
|
|
6
|
|
|
10
|
|
|
67
|
|
|||||
Corporate debt securities
|
168
|
|
|
—
|
|
|
2
|
|
|
36
|
|
|
130
|
|
|||||
Mortgage-backed securities
|
26
|
|
|
—
|
|
|
—
|
|
|
6
|
|
|
20
|
|
|||||
Asset-backed securities
|
27
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
20
|
|
|||||
Municipal and provincial notes and bonds
|
3
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
2
|
|
|||||
Level Three - Significant Unobservable Inputs
|
|
|
|
|
|
|
|
|
|
||||||||||
Preferred Shares
|
335
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
335
|
|
|||||
Total
|
$
|
1,169
|
|
|
$
|
18
|
|
|
$
|
46
|
|
|
$
|
92
|
|
|
$
|
1,013
|
|
|
December 31, 2014
|
|
Cash and Cash Equivalents
|
|
Short-term Investments
|
|
Prepaids and Other Assets
|
|
Other Assets
|
||||||||||
Level One - Quoted Prices in Active Markets for Identical Assets
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest bearing money market funds
|
$
|
70
|
|
|
$
|
70
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Mutual funds
|
341
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
341
|
|
|||||
Level Two - Significant Other Observable Inputs
|
|
|
|
|
|
|
|
|
|
||||||||||
Time deposits
|
130
|
|
|
—
|
|
|
130
|
|
|
—
|
|
|
—
|
|
|||||
U.S. government obligations
|
127
|
|
|
—
|
|
|
—
|
|
|
20
|
|
|
107
|
|
|||||
U.S. government agencies
|
34
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
29
|
|
|||||
Corporate debt securities
|
128
|
|
|
—
|
|
|
—
|
|
|
20
|
|
|
108
|
|
|||||
Mortgage-backed securities
|
23
|
|
|
—
|
|
|
—
|
|
|
4
|
|
|
19
|
|
|||||
Asset-backed securities
|
23
|
|
|
—
|
|
|
—
|
|
|
4
|
|
|
19
|
|
|||||
Municipal and provincial notes and bonds
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|||||
Level Three - Significant Unobservable Inputs
|
|
|
|
|
|
|
|
|
|
||||||||||
Preferred shares
|
280
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
280
|
|
|||||
Total
|
$
|
1,159
|
|
|
$
|
70
|
|
|
$
|
130
|
|
|
$
|
53
|
|
|
$
|
906
|
|
|
December 31, 2015
|
|
December 31, 2014
|
||
Expected term
|
0.75 years
|
|
|
0.75 years
|
|
Risk-free Interest Rate
|
0.57
|
%
|
|
0.19
|
%
|
Volatility
|
46.0
|
%
|
|
43.9
|
%
|
Dividend Yield
|
12
|
%
|
|
10
|
%
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
Land
|
$
|
674
|
|
|
$
|
710
|
|
Buildings
|
3,898
|
|
|
3,948
|
|
||
Leasehold improvements
|
220
|
|
|
226
|
|
||
Furniture, equipment and computers
|
1,209
|
|
|
1,173
|
|
||
Construction in progress
|
251
|
|
|
151
|
|
||
|
6,252
|
|
|
6,208
|
|
||
Less accumulated depreciation
|
(2,221
|
)
|
|
(2,022
|
)
|
||
Total
|
$
|
4,031
|
|
|
$
|
4,186
|
|
|
Years Ended December 31,
|
||||||||||
2015
|
|
2014
|
|
2013
|
|||||||
Depreciation Expense
|
$
|
289
|
|
|
$
|
324
|
|
|
$
|
320
|
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
Secured financing to hotel owners
|
$
|
—
|
|
|
$
|
39
|
|
Unsecured financing to hotel owners
|
120
|
|
|
102
|
|
||
|
120
|
|
|
141
|
|
||
Less allowance for losses
|
(98
|
)
|
|
(100
|
)
|
||
Less current portion included in receivables, net
|
(2
|
)
|
|
(1
|
)
|
||
Total long-term financing receivables, net
|
$
|
20
|
|
|
$
|
40
|
|
|
Secured Financing
|
|
Unsecured Financing
|
|
Total
|
||||||
Allowance at January 1, 2015
|
$
|
13
|
|
|
$
|
87
|
|
|
$
|
100
|
|
Provisions
|
3
|
|
|
7
|
|
|
10
|
|
|||
Write-offs
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
|||
Recoveries
|
(9
|
)
|
|
—
|
|
|
(9
|
)
|
|||
Other adjustments
|
(6
|
)
|
|
4
|
|
|
(2
|
)
|
|||
Allowance at December 31, 2015
|
$
|
—
|
|
|
$
|
98
|
|
|
$
|
98
|
|
|
Secured Financing
|
|
Unsecured Financing
|
|
Total
|
||||||
Allowance at January 1, 2014
|
$
|
13
|
|
|
$
|
83
|
|
|
$
|
96
|
|
Provisions
|
—
|
|
|
6
|
|
|
6
|
|
|||
Other adjustments
|
—
|
|
|
(2
|
)
|
|
(2
|
)
|
|||
Allowance at December 31, 2014
|
$
|
13
|
|
|
$
|
87
|
|
|
$
|
100
|
|
|
December 31, 2015
|
||||||||||||||
|
Gross Loan Balance (Principal and Interest)
|
|
Related Allowance
|
|
Net Financing Receivables
|
|
Gross Receivables on Non-Accrual Status
|
||||||||
Loans
|
$
|
15
|
|
|
$
|
—
|
|
|
$
|
15
|
|
|
$
|
—
|
|
Impaired loans (1)
|
58
|
|
|
(58
|
)
|
|
—
|
|
|
58
|
|
||||
Total loans
|
73
|
|
|
(58
|
)
|
|
15
|
|
|
58
|
|
||||
Other financing arrangements
|
47
|
|
|
(40
|
)
|
|
7
|
|
|
40
|
|
||||
Total unsecured financing receivables
|
$
|
120
|
|
|
$
|
(98
|
)
|
|
$
|
22
|
|
|
$
|
98
|
|
|
December 31, 2014
|
||||||||||||||
|
Gross Loan Balance (Principal and Interest)
|
|
Related Allowance
|
|
Net Financing Receivables
|
|
Gross Receivables on Non-Accrual Status
|
||||||||
Loans
|
$
|
7
|
|
|
$
|
—
|
|
|
$
|
7
|
|
|
$
|
—
|
|
Impaired loans (2)
|
52
|
|
|
(52
|
)
|
|
—
|
|
|
52
|
|
||||
Total loans
|
59
|
|
|
(52
|
)
|
|
7
|
|
|
52
|
|
||||
Other financing arrangements
|
43
|
|
|
(35
|
)
|
|
8
|
|
|
35
|
|
||||
Total unsecured financing receivables
|
$
|
102
|
|
|
$
|
(87
|
)
|
|
$
|
15
|
|
|
$
|
87
|
|
|
Asset (Liability)
|
||||||||||||||||||
|
December 31, 2015
|
||||||||||||||||||
|
Carrying Value
|
|
Fair Value
|
|
Quoted Prices in Active Markets for Identical Assets (Level One)
|
|
Significant Other Observable Inputs (Level Two)
|
|
Significant Unobservable Inputs (Level Three)
|
||||||||||
Financing receivables
|
|
|
|
|
|
|
|
|
|
||||||||||
Secured financing to hotel owners
|
$
|
|
|
|
$
|
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
|
|
Unsecured financing to hotel owners
|
22
|
|
|
22
|
|
|
—
|
|
|
—
|
|
|
22
|
|
|
Asset (Liability)
|
||||||||||||||||||
|
December 31, 2014
|
||||||||||||||||||
|
Carrying Value
|
|
Fair Value
|
|
Quoted Prices in Active Markets for Identical Assets (Level One)
|
|
Significant Other
Observable Inputs
(Level Two)
|
|
Significant Unobservable Inputs (Level Three)
|
||||||||||
Financing receivables
|
|
|
|
|
|
|
|
|
|
||||||||||
Secured financing to hotel owners
|
$
|
26
|
|
|
$
|
29
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
29
|
|
Unsecured financing to hotel owners
|
15
|
|
|
14
|
|
|
—
|
|
|
—
|
|
|
14
|
|
Cash and cash equivalents
|
$
|
7
|
|
Receivables
|
4
|
|
|
Inventories
|
1
|
|
|
Property and equipment
|
207
|
|
|
Goodwill
|
17
|
|
|
Intangibles
|
4
|
|
|
Deferred tax assets
|
1
|
|
|
Total assets
|
$
|
241
|
|
|
|
||
Current portion of long-term debt
|
$
|
4
|
|
Current liabilities
|
8
|
|
|
Long-term debt
|
65
|
|
|
Total liabilities
|
77
|
|
|
Total net assets acquired
|
$
|
164
|
|
Cash and cash equivalents
|
$
|
1
|
|
Restricted cash
|
10
|
|
|
Property and equipment
|
226
|
|
|
Goodwill
|
7
|
|
|
Intangibles
|
10
|
|
|
Other assets
|
11
|
|
|
Total assets
|
$
|
265
|
|
|
|
||
Current liabilities
|
$
|
11
|
|
Deferred tax liability
|
2
|
|
|
Long-term debt, net of bond discount
|
186
|
|
|
Total liabilities
|
199
|
|
|
Total net assets acquired
|
$
|
66
|
|
Cash and cash equivalents
|
$
|
2
|
|
Prepaids and other current assets
|
3
|
|
|
Property and equipment
|
678
|
|
|
Intangibles
|
39
|
|
|
Total assets
|
$
|
722
|
|
|
|
||
Current liabilities
|
$
|
6
|
|
Total liabilities
|
6
|
|
|
Total net assets acquired
|
$
|
716
|
|
|
Owned and Leased Hotels
|
|
Americas Management and Franchising
|
|
Other
|
|
Total
|
||||||||
Balance as of January 1, 2014
|
|
|
|
|
|
|
|
||||||||
Goodwill
|
$
|
203
|
|
|
$
|
33
|
|
|
$
|
4
|
|
|
$
|
240
|
|
Accumulated impairment losses
|
(93
|
)
|
|
—
|
|
|
—
|
|
|
(93
|
)
|
||||
Goodwill, net
|
$
|
110
|
|
|
$
|
33
|
|
|
$
|
4
|
|
|
$
|
147
|
|
Activity during the year
|
|
|
|
|
|
|
|
||||||||
Additions
|
10
|
|
|
—
|
|
|
—
|
|
|
10
|
|
||||
Disposals or held for sale
|
(14
|
)
|
|
—
|
|
|
(4
|
)
|
|
(18
|
)
|
||||
Foreign exchange*
|
(4
|
)
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
||||
Impairment losses
|
(2
|
)
|
|
—
|
|
|
—
|
|
|
(2
|
)
|
||||
Balance as of December 31, 2014
|
|
|
|
|
|
|
|
||||||||
Goodwill
|
195
|
|
|
33
|
|
|
—
|
|
|
228
|
|
||||
Accumulated impairment losses
|
(95
|
)
|
|
—
|
|
|
—
|
|
|
(95
|
)
|
||||
Goodwill, net
|
$
|
100
|
|
|
$
|
33
|
|
|
$
|
—
|
|
|
$
|
133
|
|
Activity during the year
|
|
|
|
|
|
|
|
||||||||
Foreign exchange*
|
(4
|
)
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
||||
Balance as of December 31, 2015
|
|
|
|
|
|
|
|
||||||||
Goodwill
|
191
|
|
|
33
|
|
|
—
|
|
|
224
|
|
||||
Accumulated impairment losses
|
(95
|
)
|
|
—
|
|
|
—
|
|
|
(95
|
)
|
||||
Goodwill, net
|
$
|
96
|
|
|
$
|
33
|
|
|
$
|
—
|
|
|
$
|
129
|
|
|
December 31, 2015
|
|
Weighted Average Useful Lives
|
|
December 31, 2014
|
|||||
Management and franchise agreement intangibles
|
$
|
535
|
|
|
25
|
|
|
$
|
511
|
|
Lease related intangibles
|
136
|
|
|
111
|
|
|
143
|
|
||
Advanced booking intangibles
|
12
|
|
|
5
|
|
|
12
|
|
||
Brand intangible
|
7
|
|
|
—
|
|
|
7
|
|
||
Other
|
8
|
|
|
11
|
|
|
8
|
|
||
|
698
|
|
|
|
|
681
|
|
|||
Accumulated amortization
|
(151
|
)
|
|
|
|
(129
|
)
|
|||
Intangibles, net
|
$
|
547
|
|
|
|
|
$
|
552
|
|
|
Years Ended December 31,
|
||||||||||
|
2015
|
|
2014
|
|
2013
|
||||||
Amortization Expense
|
$
|
31
|
|
|
$
|
30
|
|
|
$
|
25
|
|
|
Years Ended December 31,
|
||||||||||
|
2015
|
|
2014
|
|
2013
|
||||||
Goodwill
|
$
|
—
|
|
|
$
|
2
|
|
|
$
|
—
|
|
Definite-lived intangibles
|
—
|
|
|
2
|
|
|
11
|
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
$250 million senior unsecured notes maturing in 2016—3.875%
|
$
|
250
|
|
|
$
|
250
|
|
$196 million senior unsecured notes maturing in 2019—6.875%
|
196
|
|
|
196
|
|
||
$250 million senior unsecured notes maturing in 2021—5.375%
|
250
|
|
|
250
|
|
||
$350 million senior unsecured notes maturing in 2023—3.375%
|
348
|
|
|
348
|
|
||
Tax-Exempt Contract Revenue Empowerment Zone Bonds, Series 2005A
|
125
|
|
|
124
|
|
||
Contract Revenue Bonds, Senior Taxable Series 2005B
|
60
|
|
|
63
|
|
||
Floating average rate construction loan
|
65
|
|
|
73
|
|
||
Senior secured term loan
|
65
|
|
|
68
|
|
||
Revolving credit facility
|
—
|
|
|
—
|
|
||
Other
|
—
|
|
|
1
|
|
||
Long-term debt before capital lease obligations
|
1,359
|
|
|
1,373
|
|
||
Capital lease obligations
|
16
|
|
|
17
|
|
||
Total long-term debt
|
1,375
|
|
|
1,390
|
|
||
Less current maturities
|
(328
|
)
|
|
(9
|
)
|
||
Total long-term debt, net of current maturities
|
$
|
1,047
|
|
|
$
|
1,381
|
|
•
|
In 2009, we issued
$250 million
of
5.750%
senior notes due 2015, at an issue price of
99.460%
(the "2015 Notes"), and
$250 million
of
6.875%
senior notes due 2019, at an issue price of
99.864%
(the "2019 Notes"). During the year ended December 31, 2013, we redeemed all of our outstanding 2015 Notes, which included principal plus a make-whole premium of
$278 million
. During the year ended December 31, 2013, we purchased
$54 million
aggregate principal amount of 2019 Notes in a cash tender offer at a purchase price of
$66 million
, which included premiums payable in connection with the cash tender offer. Following the cash tender offer,
$196 million
aggregate principal amount of 2019 Notes remains outstanding.
|
•
|
In 2011, we issued
$250 million
of
3.875%
senior notes due 2016, at an issue price of
99.571%
(the "2016 Notes"), and
$250 million
of
5.375%
senior notes due 2021, at an issue price of
99.846%
(the "2021 Notes").
|
•
|
In 2013, we issued and sold
$350 million
of
3.375%
Senior Notes due 2023 at an issue price of
99.498%
(the "2023 Notes" and together with the 2015 Notes, the 2016 Notes, the 2019 Notes and the 2021 Notes, the "Senior Notes"). We received net proceeds of
$345 million
from the sale of the 2023 Notes, after deducting discounts and offering expenses payable by the Company of approximately
$3 million
. We used the net proceeds to pay the redemption price in connection with the redemption of the 2015 Notes and to repurchase the 2019 Notes tendered in a cash tender offer, with any remaining proceeds intended to be used for general corporate purposes.
|
|
Asset (Liability)
|
||||||||||||||||||
|
December 31, 2015
|
||||||||||||||||||
|
Carrying Value
|
|
Fair Value
|
|
Quoted Prices in Active Markets for Identical Assets (Level One)
|
|
Significant Other Observable Inputs (Level Two)
|
|
Significant Unobservable Inputs (Level Three)
|
||||||||||
Debt, excluding capital lease obligations
|
$
|
(1,359
|
)
|
|
$
|
(1,421
|
)
|
|
$
|
—
|
|
|
$
|
(1,277
|
)
|
|
$
|
(144
|
)
|
|
Asset (Liability)
|
||||||||||||||||||
|
December 31, 2014
|
||||||||||||||||||
|
Carrying Value
|
|
Fair Value
|
|
Quoted Prices in Active Markets for Identical Assets (Level One)
|
|
Significant Other Observable Inputs (Level Two)
|
|
Significant Unobservable Inputs (Level Three)
|
||||||||||
Debt, excluding capital lease obligations
|
$
|
(1,373
|
)
|
|
$
|
(1,479
|
)
|
|
$
|
—
|
|
|
$
|
(1,319
|
)
|
|
$
|
(160
|
)
|
Years Ending December 31,
|
Operating Leases
|
|
Capital Leases
|
||||
2016
|
$
|
41
|
|
|
$
|
3
|
|
2017
|
39
|
|
|
2
|
|
||
2018
|
33
|
|
|
2
|
|
||
2019
|
38
|
|
|
2
|
|
||
2020
|
28
|
|
|
2
|
|
||
Thereafter
|
474
|
|
|
10
|
|
||
Total minimum lease payments
|
$
|
653
|
|
|
$
|
21
|
|
Less amount representing interest
|
|
|
5
|
|
|||
Present value of minimum lease payments
|
|
|
$
|
16
|
|
|
Years Ended December 31,
|
||||||||||
2015
|
|
2014
|
|
2013
|
|||||||
Minimum rentals
|
$
|
34
|
|
|
$
|
35
|
|
|
$
|
32
|
|
Contingent rentals
|
53
|
|
|
49
|
|
|
47
|
|
|||
Total
|
$
|
87
|
|
|
$
|
84
|
|
|
$
|
79
|
|
Years Ending December 31,
|
|
||
2016
|
$
|
22
|
|
2017
|
19
|
|
|
2018
|
15
|
|
|
2019
|
10
|
|
|
2020
|
9
|
|
|
Thereafter
|
61
|
|
|
Total minimum lease receipts
|
$
|
136
|
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
Change in benefit obligation:
|
|
|
|
||||
Benefit obligation—beginning of year
|
$
|
20
|
|
|
$
|
19
|
|
Interest cost
|
1
|
|
|
1
|
|
||
Actuarial (gain) loss
|
1
|
|
|
1
|
|
||
Benefits paid
|
(1
|
)
|
|
(1
|
)
|
||
Benefit obligation—end of year
|
$
|
21
|
|
|
$
|
20
|
|
Accumulated benefit obligation
|
$
|
21
|
|
|
$
|
20
|
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
Accrued current benefit liability
|
$
|
(1
|
)
|
|
$
|
(1
|
)
|
Accrued long-term benefit liability
|
(20
|
)
|
|
(19
|
)
|
||
Funded status
|
$
|
(21
|
)
|
|
$
|
(20
|
)
|
|
December 31, 2015
|
|
December 31, 2014
|
||
Discount rate
|
3.90
|
%
|
|
3.65
|
%
|
|
December 31, 2015
|
|
December 31, 2014
|
|
December 31, 2013
|
|||
Discount rate
|
3.65
|
%
|
|
4.40
|
%
|
|
3.50
|
%
|
Rate of compensation increase
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
Years Ended December 31,
|
||||||||||
|
2015
|
|
2014
|
|
2013
|
||||||
Defined benefit plan
|
$
|
1
|
|
|
$
|
1
|
|
|
$
|
1
|
|
Defined contribution plans
|
35
|
|
|
35
|
|
|
33
|
|
|||
Deferred compensation plans
|
4
|
|
|
5
|
|
|
5
|
|
|
|
|
|
Pension Protection Act Zone Status
|
|
Contributions
|
||||||||||||
Pension Fund
|
|
EIN/Pension Plan Number
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2013
|
||||||
New York Hotel Trades Council and Hotel Association of New York City, Inc. Pension Fund
|
|
13-1764242/001
|
|
Green (1)
|
|
Green (2)
|
|
$
|
4
|
|
|
$
|
4
|
|
|
$
|
4
|
|
National Retirement Fund
|
|
13-6130178/001
|
|
Red (1)
|
|
Red (2)
|
|
3
|
|
|
3
|
|
|
3
|
|
|||
Other Funds
|
|
Various
|
|
|
|
|
|
4
|
|
|
5
|
|
|
4
|
|
|||
Total Contributions
|
|
|
|
|
|
|
|
$
|
11
|
|
|
$
|
12
|
|
|
$
|
11
|
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
Deferred gains on sales of hotel properties
|
$
|
367
|
|
|
$
|
383
|
|
Deferred compensation plans (see Note 11)
|
333
|
|
|
341
|
|
||
Hyatt Gold Passport Fund (see Note 2)
|
280
|
|
|
284
|
|
||
Guarantee liabilities (see Note 14)
|
120
|
|
|
110
|
|
||
Deferred income taxes (see Note 13)
|
59
|
|
|
66
|
|
||
Other accrued income taxes (see Note 13)
|
127
|
|
|
62
|
|
||
Defined benefit plans (see Note 11)
|
20
|
|
|
19
|
|
||
Other
|
141
|
|
|
136
|
|
||
Total
|
$
|
1,447
|
|
|
$
|
1,401
|
|
|
Years Ended December 31,
|
||||||||||
2015
|
|
2014
|
|
2013
|
|||||||
U.S. income before tax
|
$
|
119
|
|
|
$
|
493
|
|
|
$
|
256
|
|
Foreign income before tax
|
75
|
|
|
32
|
|
|
65
|
|
|||
Income before income taxes
|
$
|
194
|
|
|
$
|
525
|
|
|
$
|
321
|
|
|
Years Ended December 31,
|
|||||||
2015
|
|
2014
|
|
2013
|
||||
Statutory U.S. federal income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
State income taxes—net of federal tax benefit
|
3.5
|
|
|
3.4
|
|
|
4.8
|
|
Impact of foreign operations (excluding unconsolidated hospitality ventures losses)
|
(13.8
|
)
|
|
0.9
|
|
|
(1.3
|
)
|
Foreign unconsolidated hospitality ventures losses
|
10.0
|
|
|
0.8
|
|
|
0.9
|
|
Tax contingencies
|
(1.5
|
)
|
|
(2.6
|
)
|
|
0.2
|
|
Change in valuation allowances
|
3.1
|
|
|
(1.0
|
)
|
|
—
|
|
Adjustments to deferred tax assets
|
1.2
|
|
|
(1.5
|
)
|
|
—
|
|
General business credits
|
(1.9
|
)
|
|
(0.4
|
)
|
|
(1.3
|
)
|
Equity based compensation
|
(0.5
|
)
|
|
0.4
|
|
|
1.1
|
|
Other
|
1.1
|
|
|
(0.9
|
)
|
|
(3.2
|
)
|
Effective income tax rate
|
36.2
|
%
|
|
34.1
|
%
|
|
36.2
|
%
|
|
2015
|
|
2014
|
||||
Unrecognized tax benefits—beginning balance
|
$
|
40
|
|
|
$
|
53
|
|
Total increases—current period tax positions
|
13
|
|
|
2
|
|
||
Total (decreases) increases—prior period tax positions
|
69
|
|
|
(8
|
)
|
||
Settlements
|
—
|
|
|
(2
|
)
|
||
Lapse of statute of limitations
|
(8
|
)
|
|
(3
|
)
|
||
Foreign currency fluctuation
|
(4
|
)
|
|
(2
|
)
|
||
Unrecognized tax benefits—ending balance
|
$
|
110
|
|
|
$
|
40
|
|
|
|
The Four Managed Hotels in France
|
|
Other Performance Guarantees
|
|
All Performance Guarantees
|
||||||||||||||||||
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||
Beginning balance, January 1
|
|
$
|
106
|
|
|
$
|
123
|
|
|
$
|
5
|
|
|
$
|
6
|
|
|
$
|
111
|
|
|
$
|
129
|
|
Amortization of initial guarantee obligation liability into income
|
|
(10
|
)
|
|
(6
|
)
|
|
(2
|
)
|
|
(1
|
)
|
|
(12
|
)
|
|
(7
|
)
|
||||||
Performance guarantee expense (income), net
|
|
28
|
|
|
19
|
|
|
(1
|
)
|
|
4
|
|
|
27
|
|
|
23
|
|
||||||
Net (payments) receipts during the year
|
|
(20
|
)
|
|
(18
|
)
|
|
2
|
|
|
(4
|
)
|
|
(18
|
)
|
|
(22
|
)
|
||||||
Foreign currency exchange, net
|
|
(11
|
)
|
|
(12
|
)
|
|
—
|
|
|
—
|
|
|
(11
|
)
|
|
(12
|
)
|
||||||
Ending balance, December 31
|
|
$
|
93
|
|
|
$
|
106
|
|
|
$
|
4
|
|
|
$
|
5
|
|
|
$
|
97
|
|
|
$
|
111
|
|
Property Description
|
|
Maximum Guarantee Amount
|
|
Amount Recorded at December 31, 2015
|
|
Amount Recorded at December 31, 2014
|
|
Year of Guarantee Expiration
|
||||||
Hotel properties in India
|
|
$
|
170
|
|
|
$
|
27
|
|
|
$
|
—
|
|
|
2020
|
Hotel property in Brazil
|
|
74
|
|
|
4
|
|
|
2
|
|
|
2020
|
|||
Vacation ownership property
|
|
44
|
|
|
—
|
|
|
—
|
|
|
2016
|
|||
Hotel property in Minnesota
|
|
25
|
|
|
2
|
|
|
3
|
|
|
2018
|
|||
Hotel property in Arizona
|
|
23
|
|
|
3
|
|
|
—
|
|
|
2019
|
|||
Hotel property in Hawaii
|
|
18
|
|
|
3
|
|
|
1
|
|
|
2017
|
|||
Hotel property in Colorado
|
|
15
|
|
|
—
|
|
|
1
|
|
|
2016
|
|||
Other
|
|
22
|
|
|
—
|
|
|
—
|
|
|
various, through 2020
|
|||
Total Debt Repayment Guarantees
|
|
$
|
391
|
|
|
$
|
39
|
|
|
$
|
7
|
|
|
|
Grant Date
|
|
SARs Granted
|
|
Per SAR Value at Date of Grant
|
|
Vesting Period
|
|
Vesting Start Month
|
||||
March 2015
|
|
380,604
|
|
|
$
|
20.64
|
|
|
25
|
% annually
|
|
March 2016
|
March 2015
|
|
41,373
|
|
|
24.17
|
|
|
50
|
% annually
|
|
March 2018
|
|
February 2015
|
|
39,401
|
|
|
25.38
|
|
|
100
|
% at vest
|
|
March 2018
|
|
February 2014
|
|
327,307
|
|
|
22.57
|
|
|
25
|
% annually
|
|
March 2015
|
|
March 2013
|
|
472,003
|
|
|
17.95
|
|
|
25
|
% annually
|
|
March 2014
|
|
March 2013
|
|
54,914
|
|
|
18.21
|
|
|
100
|
% at vest
|
|
March 2017
|
|
2015
|
|
2014
|
|
2013
|
||||||
Exercise Price
|
$
|
56.57
|
|
|
$
|
49.39
|
|
|
$
|
43.44
|
|
Expected Life in Years
|
6.309
|
|
|
6.290
|
|
|
6.330
|
|
|||
Risk-free Interest Rate
|
1.63
|
%
|
|
1.93
|
%
|
|
1.18
|
%
|
|||
Expected Volatility
|
35.39
|
%
|
|
44.32
|
%
|
|
40.67
|
%
|
|||
Annual Dividend Yield
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
SAR Units
|
|
Weighted Average Exercise Price (in whole dollars)
|
|
Weighted Average Contractual Term
|
|||
Outstanding at December 31, 2014:
|
3,465,584
|
|
|
$
|
46.37
|
|
|
5.42
|
Granted
|
461,378
|
|
|
56.57
|
|
|
9.22
|
|
Exercised
|
(50,025
|
)
|
|
42.73
|
|
|
1.63
|
|
Outstanding at December 31, 2015:
|
3,876,937
|
|
|
$
|
47.63
|
|
|
5.03
|
Exercisable as of December 31, 2015:
|
2,812,948
|
|
|
$
|
46.64
|
|
|
3.83
|
Grant Date
|
|
RSUs
|
|
Value
|
|
Total Value (in millions)
|
|
Vesting Period
|
|||||
December 2015
|
|
4,089
|
|
|
$
|
48.90
|
|
|
$
|
—
|
|
|
4 years
|
September 2015
|
|
3,898
|
|
|
51.30
|
|
|
—
|
|
|
3 years
|
||
September 2015
|
|
8,576
|
|
|
51.30
|
|
|
—
|
|
|
4 years
|
||
May 2015
|
|
23,746
|
|
|
58.95
|
|
|
1
|
|
|
4 years
|
||
March 2015
|
|
380,939
|
|
|
56.27
|
|
|
21
|
|
|
4 years
|
||
February 2015
|
|
29,278
|
|
|
59.77
|
|
|
2
|
|
|
4 years
|
||
September 2014
|
|
2,452
|
|
|
61.17
|
|
|
—
|
|
|
4 years
|
||
February 2014
|
|
376,328
|
|
|
49.39
|
|
|
19
|
|
|
4 years
|
||
December 2013
|
|
2,132
|
|
|
46.90
|
|
|
—
|
|
|
4 years
|
||
September 2013
|
|
13,082
|
|
|
45.86
|
|
|
1
|
|
|
4 years
|
||
June 2013
|
|
2,218
|
|
|
40.56
|
|
|
—
|
|
|
4 years
|
||
March 2013
|
|
453,356
|
|
|
43.44
|
|
|
20
|
|
|
4 years
|
|
Restricted Stock
Units
|
|
Weighted Average Grant Date Fair Value (in whole dollars)
|
|||
Nonvested at December 31, 2014:
|
1,070,638
|
|
|
$
|
43.60
|
|
Granted
|
450,526
|
|
|
56.43
|
|
|
Vested
|
(462,393
|
)
|
|
41.54
|
|
|
Forfeited or canceled
|
(44,197
|
)
|
|
48.61
|
|
|
Nonvested at December 31, 2015:
|
1,014,574
|
|
|
$
|
50.02
|
|
Year Granted
|
|
PSSs Granted
|
|
Weighted Average Grant Date Fair Value (in whole dollars)
|
|
Performance Period
|
|
Performance Period Start Date
|
|||
2015
|
|
146,902
|
|
|
$
|
56.27
|
|
|
3 years
|
|
January 1, 2015
|
2014
|
|
162,906
|
|
|
$
|
49.39
|
|
|
3 years
|
|
January 1, 2014
|
2013
|
|
218,686
|
|
|
$
|
43.44
|
|
|
3 years
|
|
January 1, 2013
|
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
Total
|
||||||||||
SARs
|
$
|
2
|
|
|
$
|
1
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3
|
|
RSUs
|
7
|
|
|
5
|
|
|
2
|
|
|
1
|
|
|
15
|
|
|||||
PSSs
|
2
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|||||
Total
|
$
|
11
|
|
|
$
|
7
|
|
|
$
|
2
|
|
|
$
|
1
|
|
|
$
|
21
|
|
•
|
Owned and leased hotels
—This segment derives its earnings from owned and leased hotel properties located predominantly in the United States, but also in certain international locations and for purposes of segment Adjusted EBITDA, includes our pro rata share of the Adjusted EBITDA of our unconsolidated hospitality ventures, based on our ownership percentage of each venture.
|
•
|
Americas management and franchising
—This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in the United States, Latin America, Canada and the Caribbean. This segment’s revenues also include the reimbursement of costs incurred on behalf of managed hotel property owners and franchisees with no added margin. These costs relate primarily to payroll costs at managed properties where the Company is the employer. These revenues and costs are recorded on the lines other revenues from managed properties and other costs from managed properties, respectively. The intersegment revenues relate to management fees that are collected from the Company’s owned hotels, which are eliminated in consolidation.
|
•
|
ASPAC management and franchising
—This segment derives its earnings primarily from a combination of hotel management and licensing of our portfolio of brands to franchisees located in Southeast Asia, as well as China, Australia, South Korea and Japan. This segment’s revenues also include the reimbursement of costs incurred on behalf of managed hotel property owners and franchisees with no added margin. These costs relate primarily to reservations, marketing and IT costs. These revenues and costs are recorded on the lines other revenues from managed properties and other costs from managed properties, respectively. The intersegment revenues relate to management fees that are collected from the Company’s owned hotels, which are eliminated in consolidation.
|
•
|
EAME/SW Asia management
—This segment derives its earnings primarily from hotel management of our portfolio of brands located primarily in Europe, Africa, the Middle East, India and Nepal, as well as countries along the Persian Gulf and the Arabian Sea. This segment’s revenues also include the reimbursement of costs incurred on behalf of managed hotel property owners with no added margin. These costs relate primarily to reservations, marketing and IT costs. These revenues and costs are recorded on the lines other revenues from managed properties and other costs from managed properties, respectively. The intersegment revenues relate to management fees that are collected from the Company’s owned hotels, which are eliminated in consolidation.
|
|
Years Ended December 31,
|
||||||||||
2015
|
|
2014
|
|
2013
|
|||||||
Owned and leased hotels
|
|
|
|
|
|
||||||
Owned and leased hotels revenues
|
$
|
2,079
|
|
|
$
|
2,246
|
|
|
$
|
2,142
|
|
Adjusted EBITDA
|
493
|
|
|
522
|
|
|
471
|
|
|||
Depreciation and amortization
|
277
|
|
|
322
|
|
|
315
|
|
|||
Capital expenditures
|
225
|
|
|
208
|
|
|
211
|
|
|||
Americas management and franchising
|
|
|
|
|
|
||||||
Management and franchise fees revenues
|
354
|
|
|
327
|
|
|
292
|
|
|||
Other revenues from managed properties
|
1,641
|
|
|
1,550
|
|
|
1,482
|
|
|||
Intersegment revenues (a)
|
74
|
|
|
88
|
|
|
86
|
|
|||
Adjusted EBITDA
|
295
|
|
|
253
|
|
|
233
|
|
|||
Depreciation and amortization
|
19
|
|
|
18
|
|
|
17
|
|
|||
Capital expenditures
|
—
|
|
|
1
|
|
|
1
|
|
|||
ASPAC management and franchising
|
|
|
|
|
|
||||||
Management and franchise fees revenues
|
91
|
|
|
88
|
|
|
83
|
|
|||
Other revenues from managed properties
|
87
|
|
|
74
|
|
|
74
|
|
|||
Intersegment revenues (a)
|
2
|
|
|
2
|
|
|
3
|
|
|||
Adjusted EBITDA
|
52
|
|
|
44
|
|
|
50
|
|
|||
Depreciation and amortization
|
1
|
|
|
1
|
|
|
1
|
|
|||
Capital expenditures
|
1
|
|
|
1
|
|
|
—
|
|
|||
EAME/SW Asia management
|
|
|
|
|
|
||||||
Management and franchise fees revenues
|
67
|
|
|
77
|
|
|
72
|
|
|||
Other revenues from managed properties
|
58
|
|
|
53
|
|
|
45
|
|
|||
Intersegment revenues (a)
|
13
|
|
|
15
|
|
|
16
|
|
|||
Adjusted EBITDA
|
32
|
|
|
40
|
|
|
40
|
|
|||
Depreciation and amortization
|
5
|
|
|
6
|
|
|
5
|
|
|||
Capital expenditures
|
—
|
|
|
—
|
|
|
—
|
|
|||
Corporate and other
|
|
|
|
|
|
||||||
Revenues
|
40
|
|
|
75
|
|
|
78
|
|
|||
Other revenues from managed properties
|
—
|
|
|
30
|
|
|
21
|
|
|||
Adjusted EBITDA
|
(145
|
)
|
|
(131
|
)
|
|
(114
|
)
|
|||
Depreciation and amortization
|
18
|
|
|
7
|
|
|
7
|
|
|||
Capital expenditures
|
43
|
|
|
43
|
|
|
20
|
|
|||
Eliminations (a)
|
|
|
|
|
|
||||||
Revenues
|
(89
|
)
|
|
(105
|
)
|
|
(105
|
)
|
|||
Adjusted EBITDA
|
—
|
|
|
—
|
|
|
—
|
|
|||
Depreciation and amortization
|
—
|
|
|
—
|
|
|
—
|
|
|||
Capital expenditures
|
—
|
|
|
—
|
|
|
—
|
|
|||
TOTAL
|
|
|
|
|
|
||||||
Revenues
|
$
|
4,328
|
|
|
$
|
4,415
|
|
|
$
|
4,184
|
|
Adjusted EBITDA
|
727
|
|
|
728
|
|
|
680
|
|
|||
Depreciation and amortization
|
320
|
|
|
354
|
|
|
345
|
|
|||
Capital expenditures
|
269
|
|
|
253
|
|
|
232
|
|
(a)
|
Intersegment revenues are included in the management and franchise fees revenues totals and eliminated in Eliminations.
|
|
December 31, 2015
|
|
December 31, 2014
|
||||
Owned and leased hotels
|
$
|
5,281
|
|
|
$
|
5,622
|
|
Americas management and franchising
|
464
|
|
|
482
|
|
||
ASPAC management and franchising
|
131
|
|
|
130
|
|
||
EAME/SW Asia management
|
234
|
|
|
177
|
|
||
Corporate and other
|
1,486
|
|
|
1,732
|
|
||
TOTAL
|
$
|
7,596
|
|
|
$
|
8,143
|
|
|
Years Ended December 31,
|
||||||||||
2015
|
|
2014
|
|
2013
|
|||||||
Revenues:
|
|
|
|
|
|
||||||
United States
|
$
|
3,494
|
|
|
$
|
3,476
|
|
|
$
|
3,270
|
|
All Foreign
|
834
|
|
|
939
|
|
|
914
|
|
|||
Total
|
$
|
4,328
|
|
|
$
|
4,415
|
|
|
$
|
4,184
|
|
|
|
|
|
|
|
||||||
|
December 31, 2015
|
|
December 31, 2014
|
|
|
||||||
Property and Equipment, net, Intangibles, net and Goodwill:
|
|
|
|
|
|
||||||
United States
|
$
|
3,562
|
|
|
$
|
3,643
|
|
|
|
||
All Foreign
|
1,145
|
|
|
1,228
|
|
|
|
||||
Total
|
$
|
4,707
|
|
|
$
|
4,871
|
|
|
|
|
Years Ended December 31,
|
||||||||||
2015
|
|
2014
|
|
2013
|
|||||||
Adjusted EBITDA
|
$
|
727
|
|
|
$
|
728
|
|
|
$
|
680
|
|
Equity earnings (losses) from unconsolidated hospitality ventures
|
(64
|
)
|
|
25
|
|
|
(1
|
)
|
|||
Gains on sales of real estate and other
|
9
|
|
|
311
|
|
|
125
|
|
|||
Asset impairments
|
(5
|
)
|
|
(17
|
)
|
|
(22
|
)
|
|||
Other income (loss), net
|
(5
|
)
|
|
(17
|
)
|
|
17
|
|
|||
Net (income) loss attributable to noncontrolling interests
|
—
|
|
|
(2
|
)
|
|
2
|
|
|||
Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA
|
(80
|
)
|
|
(80
|
)
|
|
(68
|
)
|
|||
EBITDA
|
582
|
|
|
948
|
|
|
733
|
|
|||
Depreciation and amortization
|
(320
|
)
|
|
(354
|
)
|
|
(345
|
)
|
|||
Interest expense
|
(68
|
)
|
|
(71
|
)
|
|
(65
|
)
|
|||
Provision for income taxes
|
(70
|
)
|
|
(179
|
)
|
|
(116
|
)
|
|||
Net income attributable to Hyatt Hotels Corporation
|
$
|
124
|
|
|
$
|
344
|
|
|
$
|
207
|
|
|
Years Ended December 31,
|
||||||||||
2015
|
|
2014
|
|
2013
|
|||||||
Numerator:
|
|
|
|
|
|
||||||
Net income
|
$
|
124
|
|
|
$
|
346
|
|
|
$
|
205
|
|
Net (income) loss attributable to noncontrolling interests
|
—
|
|
|
(2
|
)
|
|
2
|
|
|||
Net income attributable to Hyatt Hotels Corporation
|
$
|
124
|
|
|
$
|
344
|
|
|
$
|
207
|
|
Denominator:
|
|
|
|
|
|
||||||
Basic weighted average shares outstanding
|
142,814,868
|
|
|
153,136,511
|
|
|
158,544,930
|
|
|||
Share-based compensation
|
1,184,455
|
|
|
1,213,941
|
|
|
644,149
|
|
|||
Diluted weighted average shares outstanding
|
143,999,323
|
|
|
154,350,452
|
|
|
159,189,079
|
|
|||
Basic Earnings Per Share:
|
|
|
|
|
|
||||||
Net income
|
$
|
0.87
|
|
|
$
|
2.26
|
|
|
$
|
1.29
|
|
Net (income) loss attributable to noncontrolling interests
|
—
|
|
|
(0.01
|
)
|
|
0.01
|
|
|||
Net income attributable to Hyatt Hotels Corporation
|
$
|
0.87
|
|
|
$
|
2.25
|
|
|
$
|
1.30
|
|
Diluted Earnings Per Share:
|
|
|
|
|
|
||||||
Net income
|
$
|
0.86
|
|
|
$
|
2.24
|
|
|
$
|
1.29
|
|
Net (income) loss attributable to noncontrolling interests
|
—
|
|
|
(0.01
|
)
|
|
0.01
|
|
|||
Net income attributable to Hyatt Hotels Corporation
|
$
|
0.86
|
|
|
$
|
2.23
|
|
|
$
|
1.30
|
|
|
Years Ended December 31,
|
|||||||
|
2015
|
|
2014
|
|
2013
|
|||
Stock-settled SARs
|
1,500
|
|
|
5,200
|
|
|
148,200
|
|
|
For the years ended December 31,
|
||||||||||
2015
|
|
2014
|
|
2013
|
|||||||
Performance guarantee expense, net (Note 14)
|
$
|
(27
|
)
|
|
$
|
(23
|
)
|
|
$
|
(5
|
)
|
Foreign currency losses, net
|
(14
|
)
|
|
(3
|
)
|
|
(5
|
)
|
|||
Recoveries (provisions) on hotel loans, net (Note 6)
|
6
|
|
|
—
|
|
|
(6
|
)
|
|||
Interest income
|
8
|
|
|
11
|
|
|
17
|
|
|||
Depreciation recovery
|
12
|
|
|
2
|
|
|
1
|
|
|||
Guarantee liability amortization (Note 14)
|
12
|
|
|
7
|
|
|
5
|
|
|||
Realignment costs
|
—
|
|
|
(7
|
)
|
|
—
|
|
|||
Transaction costs (Note 7)
|
—
|
|
|
(6
|
)
|
|
(10
|
)
|
|||
Cost method investment income (Note 3)
|
—
|
|
|
1
|
|
|
50
|
|
|||
Gain on sale of artwork (Note 7)
|
—
|
|
|
—
|
|
|
29
|
|
|||
Charitable contribution to Hyatt Hotels Foundation
|
—
|
|
|
—
|
|
|
(20
|
)
|
|||
Debt settlement costs (Note 9)
|
—
|
|
|
—
|
|
|
(35
|
)
|
|||
Other
|
(2
|
)
|
|
1
|
|
|
(4
|
)
|
|||
Other income (loss), net
|
$
|
(5
|
)
|
|
$
|
(17
|
)
|
|
$
|
17
|
|
|
For the three months ended
|
||||||||||||||||||||||||||||||
December 31, 2015
|
|
September 30, 2015
|
|
June 30, 2015
|
|
March 31, 2015
|
|
December 31, 2014
|
|
September 30, 2014
|
|
June 30, 2014
|
|
March 31, 2014
|
|||||||||||||||||
Consolidated statements of income data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Owned and leased hotels
|
$
|
530
|
|
|
$
|
500
|
|
|
$
|
540
|
|
|
$
|
509
|
|
|
$
|
551
|
|
|
$
|
555
|
|
|
$
|
592
|
|
|
$
|
548
|
|
Management and franchise fees
|
107
|
|
|
103
|
|
|
112
|
|
|
105
|
|
|
101
|
|
|
94
|
|
|
103
|
|
|
89
|
|
||||||||
Other revenues
|
10
|
|
|
10
|
|
|
9
|
|
|
7
|
|
|
7
|
|
|
24
|
|
|
23
|
|
|
21
|
|
||||||||
Other revenues from managed properties
|
462
|
|
|
440
|
|
|
451
|
|
|
433
|
|
|
420
|
|
|
431
|
|
|
440
|
|
|
416
|
|
||||||||
Total revenues
|
1,109
|
|
|
1,053
|
|
|
1,112
|
|
|
1,054
|
|
|
1,079
|
|
|
1,104
|
|
|
1,158
|
|
|
1,074
|
|
||||||||
Direct and selling, general, and administrative expenses
|
1,047
|
|
|
965
|
|
|
998
|
|
|
995
|
|
|
1,040
|
|
|
1,032
|
|
|
1,043
|
|
|
1,021
|
|
||||||||
Net Income
|
37
|
|
|
25
|
|
|
40
|
|
|
22
|
|
|
182
|
|
|
33
|
|
|
75
|
|
|
56
|
|
||||||||
Net income attributable to Hyatt Hotels Corporation
|
37
|
|
|
25
|
|
|
40
|
|
|
22
|
|
|
182
|
|
|
32
|
|
|
74
|
|
|
56
|
|
||||||||
Net income per common share, basic
|
$
|
0.26
|
|
|
$
|
0.18
|
|
|
$
|
0.28
|
|
|
$
|
0.15
|
|
|
$
|
1.21
|
|
|
$
|
0.22
|
|
|
$
|
0.49
|
|
|
$
|
0.36
|
|
Net income per common share, diluted
|
$
|
0.26
|
|
|
$
|
0.18
|
|
|
$
|
0.27
|
|
|
$
|
0.15
|
|
|
$
|
1.20
|
|
|
$
|
0.22
|
|
|
$
|
0.49
|
|
|
$
|
0.36
|
|
|
|
Column A
|
|
Column B
|
|
Column C
|
|
Column D
|
|
Column E
|
||||||||||
Description
|
|
Balance at Beginning of Period
|
|
Additions Charged to Revenues, Costs and Expenses
|
|
Additions Charged to Other Accounts
|
|
Deductions
|
|
Balance at End of Period
|
||||||||||
Year Ended December 31, 2015:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Trade receivables—allowance for doubtful accounts
|
|
$
|
13
|
|
|
$
|
5
|
|
|
$
|
—
|
|
|
$
|
(3
|
)
|
|
$
|
15
|
|
Financing receivables—allowance for losses
|
|
100
|
|
|
10
|
|
|
(2
|
)
|
A
|
(10
|
)
|
|
98
|
|
|||||
Deferred tax assets—valuation allowance
|
|
15
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
17
|
|
|||||
Year Ended December 31, 2014:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Trade receivables—allowance for doubtful accounts
|
|
11
|
|
|
5
|
|
|
—
|
|
|
(3
|
)
|
|
13
|
|
|||||
Financing receivables—allowance for losses
|
|
103
|
|
|
7
|
|
|
(9
|
)
|
A, C
|
(1
|
)
|
|
100
|
|
|||||
Deferred tax assets—valuation allowance
|
|
21
|
|
|
—
|
|
|
—
|
|
|
(6
|
)
|
B
|
15
|
|
|||||
Year Ended December 31, 2013:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Trade receivables—allowance for doubtful accounts
|
|
11
|
|
|
4
|
|
|
—
|
|
|
(4
|
)
|
|
11
|
|
|||||
Financing receivables—allowance for losses
|
|
99
|
|
|
13
|
|
|
(3
|
)
|
A
|
(6
|
)
|
|
103
|
|
|||||
Deferred tax assets—valuation allowance
|
|
22
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
21
|
|
Exhibit Number
|
|
Exhibit Description
|
|
|
|
3.1
|
|
Amended and Restated Certificate of Incorporation of Hyatt Hotels Corporation (incorporated by reference to Exhibit 3.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 (File No. 001-34521) filed with the Securities and Exchange Commission on August 4, 2015)
|
|
|
|
3.2
|
|
Amended and Restated Bylaws of Hyatt Hotels Corporation (incorporated by reference to Exhibit 3.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on September 11, 2014)
|
|
|
|
4.1
|
|
Specimen Class A Common Stock Certificate (incorporated by reference to Exhibit 4.1 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on October 1, 2009)
|
|
|
|
4.2
|
|
Registration Rights Agreement, dated as of August 28, 2007, as amended, by and among Global Hyatt Corporation, Madrone GHC, LLC, Lake GHC, LLC, Shimoda GHC, LLC, GS Sunray Holdings, L.L.C., GS Sunray Holdings Subco I, L.L.C., GS Sunray Holdings Subco II, L.L.C., GS Sunray Holdings Parallel, L.L.C., GS Sunray Holdings Parallel Subco, L.L.C., Mori Building Capital Investment LLC and others party thereto (incorporated by reference to Exhibit 4.2 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
4.3
|
|
Joinder Agreement to Registration Rights Agreement, dated as of January 26, 2010, by and among Hyatt Hotels Corporation and Mori Building Co., Ltd. (incorporated by reference to Exhibit 4.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009 (File No. 001-34521) filed with the Securities and Exchange Commission on February 25, 2010)
|
|
|
|
4.4
|
|
Indenture, dated as of August 14, 2009, as amended, between Hyatt Hotels Corporation and Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.3 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on September 9, 2009)
|
|
|
|
4.5
|
|
First Supplemental Indenture, dated as of August 14, 2009, between Hyatt Hotels Corporation and Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.4 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on September 9, 2009)
|
|
|
|
4.6
|
|
Second Supplemental Indenture, dated as of August 4, 2011, between the Company and Wells Fargo, National Association, as trustee (incorporated by reference to Exhibit 4.2 to the Company's Registration Statement on Form S-3 (File No. 333-176038) filed with the Securities and Exchange Commission on August 4, 2011)
|
|
|
|
4.7
|
|
Third Supplemental Indenture, dated as of August 9, 2011, between the Company and Wells Fargo, National Association, as trustee (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on August 9, 2011)
|
|
|
|
4.8
|
|
Fourth Supplemental Indenture, dated May 10, 2013, between Hyatt Hotels Corporation and Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on May 10, 2013)
|
|
|
|
4.9
|
|
Fifth Supplemental Indenture, dated May 10, 2013 between Hyatt Hotels Corporation and Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on May 10, 2013)
|
Exhibit Number
|
|
Exhibit Description
|
|
|
|
4.10
|
|
Form of 6.875% Senior Notes due 2019 (included as part of Exhibit 4.5 above) (incorporated by reference to Exhibit 4.4 to the Company’s Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on September 9, 2009)
|
|
|
|
4.11
|
|
Form of 3.875% Senior Notes due 2016 (included as part of Exhibit 4.7 above) (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on August 9, 2011)
|
|
|
|
4.12
|
|
Form of 5.375% Senior Notes due 2021 (included as part of Exhibit 4.7 above) (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on August 9, 2011)
|
|
|
|
4.13
|
|
Form of 3.375% Senior Notes due 2023 (included as part of Exhibit 4.9 above ) (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on May 10, 2013)
|
|
|
|
4.14
|
|
Registration Rights Agreement, dated as of October 12, 2009, by and among Hyatt Hotels Corporation and Thomas J. Pritzker, Marshall E. Eisenberg and Karl J. Breyer, solely in their capacity as co-trustees (incorporated by reference to Exhibit 4.5 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on October 15, 2009)
|
|
|
|
10.1
|
|
2007 Stockholders' Agreement, dated as of August 28, 2007, as amended, by and among Hyatt Hotels Corporation, Madrone GHC, LLC, Lake GHC, LLC, Shimoda GHC, LLC, GS Sunray Holdings, L.L.C., GS Sunray Holdings Subco I, L.L.C., GS Sunray Holdings Subco II, L.L.C., GS Sunray Holdings Parallel, L.L.C., GS Sunray Holdings Parallel Subco, L.L.C., Mori Building Capital Investment LLC and others party thereto (incorporated by reference to Exhibit 10.1 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
10.2
|
|
Joinder Agreement to 2007 Stockholders' Agreement, dated as of January 26, 2010, by and among Hyatt Hotels Corporation and Mori Building Co., Ltd. (incorporated by reference to Exhibit 10.2 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009 (File No. 001-34521) filed with the SEC on February 25, 2010)
|
|
|
|
10.3
|
|
Joinder Agreement to 2007 Stockholders' Agreement, dated as of March 12, 2014, by and among Hyatt Hotels Corporation and Gregory B. Penner (incorporated by reference to Exhibit 10.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2015 (File No. 001-34521) filed with the Securities and Exchange Commission on February 18, 2015)
|
|
|
|
+10.4
|
|
Third Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan
|
|
|
|
+10.5
|
|
Form of Non-Employee Director Restricted Stock Unit Award Agreement (incorporated by reference to Exhibit 10.3 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
+10.6
|
|
Amendment to Hyatt Hotels Corporation Non-Employee Director Restricted Stock Unit Award Agreements (incorporated by reference to Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2010 (File No. 001-34521) filed with the Securities and Exchange Commission on November 3, 2010)
|
|
|
|
+10.7
|
|
Form of Non-Employee Director Restricted Stock Award Agreement (incorporated by reference to Exhibit 10.4 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
Exhibit Number
|
|
Exhibit Description
|
+10.8
|
|
Form of Restricted Stock Award Agreement (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K/A (File No. 001-34521) filed with the Securities and Exchange Commission on April 13, 2012)
|
|
|
|
+10.9
|
|
Second Amendment to Hyatt Hotels Corporation Special Restricted Stock Unit Award Agreements (incorporated by reference to Exhibit 10.4 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2010 (File No. 001-34521) filed with the Securities and Exchange Commission on November 3, 2010)
|
|
|
|
+10.10
|
|
Amendment to Hyatt Hotels Corporation 2008 and 2009 Restricted Stock Unit Award Agreements, dated December 17, 2010 (incorporated by reference to Exhibit 10.17 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010 (File No. 001-34521) filed with the SEC on February 17, 2011)
|
|
|
|
+10.11
|
|
Form of 2006 Stock Appreciation Rights Award Agreement under Long-Term Incentive Plan (incorporated by reference to Exhibit 10.12 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
+10.12
|
|
Form of 2007 Stock Appreciation Rights Award Agreement under Long-Term Incentive Plan (incorporated by reference to Exhibit 10.11 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
+10.13
|
|
Form of 2008 Stock Appreciation Rights Award Agreement under Long-Term Incentive Plan (incorporated by reference to Exhibit 10.10 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
+10.14
|
|
Form of 2009 Stock Appreciation Rights Award Agreement under Long-Term Incentive Plan (incorporated by reference to Exhibit 10.13 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
+10.15
|
|
Form of Stock Appreciation Rights Award Agreement under Long-Term Incentive Plan (incorporated by reference to Exhibit 10.57 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009 (File No. 001-34521) filed with the Securities and Exchange Commission on February 25, 2010)
|
|
|
|
+10.16
|
|
Form of Performance Share Unit Agreement (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on March 21, 2011)
|
|
|
|
+10.17
|
|
Form of Restricted Stock Agreement (incorporated by reference to Exhibit 10.1 to Amendment No. 1 to the Company's Current Report on Form 8-K/A (File No. 001-34521) filed with the Securities and Exchange Commission on April 13, 2012)
|
|
|
|
+10.18
|
|
Form of Restricted Stock Agreement (incorporated by reference to Exhibit 10.22 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (File No. 001-34521) filed with the Securities and Exchange Commission on February 18, 2014)
|
|
|
|
+10.19
|
|
Amended and Restated Hyatt Hotels Corporation Deferred Compensation Plan for Directors, dated as of December 10, 2009 (incorporated by reference to Exhibit 10.15 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009 (File No. 001-34521) filed with the Securities and Exchange Commission on February 25, 2010)
|
|
|
|
+10.20
|
|
First Amendment to the Hyatt Hotels Corporation Deferred Compensation Plan for Directors, dated December 17, 2010 (incorporated by reference to Exhibit 10.25 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010 (File No. 001-34521) filed with the Securities and Exchange Commission on February 17, 2011)
|
Exhibit Number
|
|
Exhibit Description
|
|
|
|
+10.21
|
|
Hyatt Hotels Corporation Fourth Amended and Restated Summary of Non-Employee Director Compensation (January 1, 2015) (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2014 (File No. 001-34521) filed with the Securities and Exchange Commission on October 29, 2014)
|
|
|
|
+10.22
|
|
Employment Letter, dated as of December 12, 2012, between Hyatt Hotels Corporation and Mark S. Hoplamazian (incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on December 14, 2012)
|
|
|
|
+10.23
|
|
Employment Letter, dated as of January 7, 2015, between Hyatt Hotels Corporation and Maryam Banikarim (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 (File No. 001-34521) filed with the Securities and Exchange Commission on May 5, 2015)
|
|
|
|
+10.24
|
|
Employment Letter, dated as of December 12, 2012, between Hyatt Hotels Corporation and Thomas J. Pritzker (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on December 14, 2012)
|
|
|
|
+10.25
|
|
Employment Letter, dated as of May 3, 2007, between Hyatt Hotels Corporation and Stephen Haggerty (incorporated by reference to Exhibit 10.3 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2010 (File No. 001-34521) filed with the Securities and Exchange Commission on August 5, 2010)
|
|
|
|
+10.26
|
|
Letter Agreement, dated as of December 28, 2012, between Hyatt Hotels Corporation and Stephen Haggerty (incorporated by reference to Exhibit 10.33 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 (File No. 001-34521) filed with the Securities and Exchange Commission on February 13, 2013)
|
|
|
|
+10.27
|
|
Hyatt Hotels Corporation Executive Officer Change in Control Plan and Summary Plan Description (incorporated by reference to Exhibit 10.47 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on September 9, 2009)
|
|
|
|
+10.28
|
|
First Amendment to the Hyatt Hotels Corporation Executive Change in Control Plan, dated December 17, 2010 (incorporated by reference to Exhibit 10.32 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010 (File No. 001-34521) filed with the Securities and Exchange Commission on February 17, 2011)
|
|
|
|
+10.29
|
|
Hyatt Hotels Corporation Corporate Office Severance Plan and Summary Plan Description (incorporated by reference to Exhibit 10.48 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on September 9, 2009)
|
|
|
|
+10.30
|
|
First Amendment to the Hyatt Hotels Corporation Corporate Office Severance Plan, dated December 17, 2010 (incorporated by reference to Exhibit 10.34 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010 (File No. 001-34521) filed with the Securities and Exchange Commission on February 17, 2011)
|
|
|
|
+10.31
|
|
Amended and Restated Hyatt Hotels Corporation Executive Incentive Plan (incorporated by reference to Appendix B to the Company's Definitive Proxy Statement or Schedule 14A (File No. 001-34521) filed with the Securities and Exchange Commission on April 22, 2013)
|
|
|
|
+10.32
|
|
Hyatt International Hotels Retirement Plan (incorporated by reference to Exhibit 10.55 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on November 2, 2009)
|
|
|
|
Exhibit Number
|
|
Exhibit Description
|
+10.33
|
|
Amended and Restated Hyatt Corporation Deferred Compensation Plan, effective May 3, 2010 (incorporated by reference to Exhibit 4.5 to the Company's Registration Statement on Form S-8 (File No. 333-165384) filed with the Securities and Exchange Commission on March 10, 2010)
|
|
|
|
+10.34
|
|
First Amendment to the Amended and Restated Hyatt Corporation Deferred Compensation Plan, effective May 3, 2010 (incorporated by reference to Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2010 (File No. 001-34521) filed with the Securities and Exchange Commission on May 6, 2010)
|
|
|
|
+10.35
|
|
Second Amendment to the Amended and Restated Hyatt Corporation Deferred Compensation Plan, effective September 30, 2010 (incorporated by reference to Exhibit 10.41 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011 (File No. 001-34521) filed with the Securities and Exchange Commission on February, 16, 2012)
|
|
|
|
+10.36
|
|
Hyatt Hotels Corporation Employee Stock Purchase Plan (incorporated by reference to Appendix A to the Company's Definitive Proxy Statement on Schedule 14A (File No. 001-34521) filed with the Securities and Exchange Commission on April 21, 2010)
|
|
|
|
+10.37
|
|
First Amendment to the Hyatt Hotels Corporation Employee Stock Purchase Plan, dated March 19, 2012 (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2012 (File No. 001-34521) filed with the Securities and Exchange Commission on May 3, 2012)
|
|
|
|
10.38
|
|
Amended and Restated Office Lease, dated as of June 15, 2004, as amended, between Hyatt Corporation and FrankMon LLC (as of December 20, 2010, FrankMon LLC transferred ownership interest to 71 South Wacker Drive LLC) (incorporated by reference to Exhibit 10.21 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
10.39
|
|
Sublease Agreement, dated as of June 15, 2004, as amended, between Hyatt Corporation and The Pritzker Organization, L.L.C. (incorporated by reference to Exhibit 10.23 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
10.40
|
|
Fifth Amendment to Sublease, dated as of November 2, 2011, between Hyatt Corporation and The Pritzker Organization, L.L.C. (incorporated by reference to Exhibit 10.46 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011 (File No. 001-34521) filed with the Securities and Exchange Commission on February 16, 2012)
|
|
|
|
10.41
|
|
Sixth Amendment to Sublease, dated as of June 12, 2012, between Hyatt Corporation and The Pritzker Organization, L.L.C. (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2012 (File No. 001-34521) filed with the Securities and Exchange Commission on August 1, 2012)
|
|
|
|
10.42
|
|
Sublease Agreement, dated as of June 15, 2004, as amended, between Hyatt Corporation and CC-Development Group, Inc. (incorporated by reference to Exhibit 10.25 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
10.43
|
|
Third Amendment to Sublease, dated as of February 22, 2012, between Hyatt Corporation and CC-Development Group, Inc. (incorporated by reference to Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2012 (File No. 001-34521) filed with the Securities and Exchange Commission on May 3, 2012)
|
|
|
|
Exhibit Number
|
|
Exhibit Description
|
10.44
|
|
Agreement Regarding Allocation of Certain Office Costs Relating to Thomas J. Pritzker in his role as Executive Chairman of Hyatt Hotels Corporation, dated as of February 14, 2012, between Hyatt Corporation and The Pritzker Organization, L.L.C. (incorporated by reference to Exhibit 10.49 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011 (File No. 001-34521) filed with the Securities and Exchange Commission on February, 16, 2012)
|
|
|
|
10.45
|
|
Omnibus Office Services Agreement, dated as of August 3, 2006, between Global Hyatt Corporation, Pritzker Realty Group, L.P., CC-Development Group, H Group Holding, Inc., The Pritzker Organization, L.L.C., Pritzker Family Office, L.L.C. and Pritzker Realty Group, L.P. and others party thereto (incorporated by reference to Exhibit 10.27 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
10.46
|
|
Master (Permanent) Non-Gaming Services Agreement, dated as of July 19, 2002, between Hyatt Corporation and Falls Management Company (incorporated by reference to Exhibit 10.34 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on September 9, 2009)
|
|
|
|
10.47
|
|
Letter regarding Termination of Omnibus Office Services Agreement, dated as of January 12, 2012, by Pritzker Realty Group, L.P. (incorporated by reference to Exhibit 10.59 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011 (File No. 001-34521) filed with the Securities and Exchange Commission on February 16, 2012)
|
|
|
|
10.48
|
|
Letter regarding employee benefit administration dated as of February 12, 2008, by Hyatt Gaming Management, Inc. (incorporated by reference to Exhibit 10.38 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
10.49
|
|
Employee Benefits and Other Employment Matters Allocation and Separation Agreement, dated as of July 1, 2004, among Hyatt Corporation, Hyatt Gaming Management, Inc., H Group Holding, Inc., HCC Corporation and Grand Victoria Casino & Resort, L.P. (incorporated by reference to Exhibit 10.39 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
10.50
|
|
Tax Separation Agreement, dated as of June 30, 2004, as amended, among H Group Holding, Inc., Hyatt Corporation, CC-Development Group, Inc. and each of their respective direct and indirect Subsidiaries (incorporated by reference to Exhibit 10.42 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on October 1, 2009)
|
|
|
|
10.51
|
|
Second Amended and Restated Credit Agreement, dated as of January 6, 2014, among Hyatt Hotels Corporation and Hotel Investors I, Inc., as Borrowers, certain subsidiaries of Hyatt Hotels Corporation, as Guarantors, various Lenders, Wells Fargo Bank, National Association, as Administrative Agent, Bank of America, N.A., as Syndication Agent, Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC and Deutsche Bank Securities, Inc., as Joint Book Runners and Co-Lead Arrangers, and JPMorgan Chase Bank, N.A., Deutsche Bank Securities, Inc. and SunTrust Bank, as Co-Documentation Agents (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on January 6, 2014)
|
|
|
|
10.52
|
|
Form of Franchise Agreement with Hyatt Place Franchising, L.L.C., as amended (incorporated by reference to Exhibit 10.46 to the Company's Registration Statement on Form S-1 (File No. 333- 161068) filed with the Securities and Exchange Commission on August 5, 2009)
|
|
|
|
12.1
|
|
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
|
|
|
|
14.1
|
|
Code of Business Conduct and Ethics
|
|
|
|
21.1
|
|
List of Subsidiaries
|
Exhibit Number
|
|
Exhibit Description
|
|
|
|
23.1
|
|
Consent of Deloitte & Touche LLP
|
|
|
|
31.1
|
|
Certification of the Chief Executive Officer pursuant to Rules 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
31.2
|
|
Certification of the Chief Financial Officer pursuant to Rules 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
32.1
|
|
Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
|
|
32.2
|
|
Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
|
|
99.1
|
|
Amended and Restated Global Hyatt Agreement, dated as of October 1, 2009, by and among Thomas J. Pritzker, Marshall E. Eisenberg and Karl J. Breyer, solely in their capacity as co-trustees, and each signatory thereto
|
|
|
|
99.2
|
|
Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each signatory thereto
|
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
+
|
Management contract or compensatory plan or arrangement.
|
|
For the Years Ended December 31,
|
||||||||||||||||||
|
2015
|
|
2014
|
|
2013
|
|
2012
|
|
2011
|
||||||||||
Earnings:
|
|
|
|
|
|
|
|
|
|
||||||||||
Pretax income from continuing operations before adjustment for equity earnings (losses) from unconsolidated hospitality ventures
|
$
|
258
|
|
|
$
|
500
|
|
|
$
|
322
|
|
|
$
|
116
|
|
|
$
|
78
|
|
Fixed charges
|
133
|
|
|
129
|
|
|
105
|
|
|
95
|
|
|
81
|
|
|||||
Distributed income of equity method unconsolidated hospitality ventures
|
25
|
|
|
70
|
|
|
39
|
|
|
15
|
|
|
12
|
|
|||||
Subtract: Interest capitalized net of amortization
|
6
|
|
|
4
|
|
|
5
|
|
|
1
|
|
|
1
|
|
|||||
Subtract: Noncontrolling interest loss with no fixed charges
|
—
|
|
|
(1
|
)
|
|
(2
|
)
|
|
(1
|
)
|
|
(1
|
)
|
|||||
Total Earnings
|
$
|
410
|
|
|
$
|
696
|
|
|
$
|
463
|
|
|
$
|
226
|
|
|
$
|
171
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Fixed Charges:
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest expense
|
$
|
77
|
|
|
$
|
78
|
|
|
$
|
74
|
|
|
$
|
74
|
|
|
$
|
61
|
|
Interest within rent expense
|
29
|
|
|
28
|
|
|
26
|
|
|
21
|
|
|
20
|
|
|||||
Performance guarantee expense, net
|
27
|
|
|
23
|
|
|
5
|
|
|
—
|
|
|
—
|
|
|||||
Total Fixed Charges
|
$
|
133
|
|
|
$
|
129
|
|
|
$
|
105
|
|
|
$
|
95
|
|
|
$
|
81
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Ratio of Earnings to Fixed Charges
(1)
|
3.1x
|
|
|
5.4x
|
|
|
4.4x
|
|
|
2.4x
|
|
|
2.1x
|
|
(1)
|
For purposes of calculating the ratio of earnings to fixed charges, earnings represents pre-tax earnings before adjustments for equity earnings (losses) from unconsolidated hospitality ventures; and fixed charges include: interest (expenses and capitalized), amortized premiums, discounts and capitalized expenses related to indebtedness, the interest portion of rent expense that is deemed to be representative of the interest factor, and performance guarantee expense, net. Our performance guarantee arrangements are primarily subject to annual performance guarantee metrics.
|
1.
|
Standards of Conduct / Compliance with Applicable Laws
|
2.
|
Conflicts of Interest
|
3.
|
Corporate Opportunities
|
4.
|
Confidential Information
|
5.
|
Competition and Fair Dealing
|
6.
|
Protection and Proper Use of Corporate Assets
|
7.
|
Prohibition Against Bribes or Kickbacks
|
8.
|
Gifts and Entertainment
|
9.
|
Prohibition Against Taking Commissions or Referral Fees
|
10.
|
Prohibition Against Using Corporate Assets for Political Purposes
|
11.
|
Compliance With Insider Trading Laws
|
12.
|
Accuracy of Company Records and Financial Reports
|
13.
|
Certification
|
Name
|
Jurisdiction of
Incorporation or Organization |
1379919 ALBERTA INC.
|
Alberta, Canada
|
319168 ONTARIO LIMITED
|
Ontario, Canada
|
3385434 CANADA INC.
|
Canada
|
AIC HOLDING CO.
|
Delaware
|
AIRPORT PLAZA ASSOCIATES LIMITED PARTNERSHIP
|
Virginia
|
AIRPORT PLAZA HOTEL LLC
|
Delaware
|
AIRPORT PLAZA OFFICE BUILDING LIMITED PARTNERSHIP
|
Virginia
|
AMERISUITES FRANCHISING L.L.C.
|
Delaware
|
ARANCIA LIMITED
|
Hong Kong (PRC)
|
ARUBA BEACHFRONT RESORTS LIMITED PARTNERSHIP
|
Illinois
|
ARUBA BEACHFRONT RESORTS N.V.
|
Aruba
|
ASIA HOSPITALITY, INC.
|
Cayman Islands
|
ASIA HOSPITALITY INVESTORS B.V.
|
Netherlands
|
ASIAN HOTEL N.V.
|
Curacao
|
ATRIUM HOTEL, L.L.C
|
Delaware
|
BAKU HOTEL COMPANY – AZERI
|
Azerbaijan
|
BAKU HOTEL COMPANY – CAYMAN
|
Cayman Islands
|
BASTROP MARKETING, L.L.C.
|
Texas
|
BAY II INVESTOR, INC.
|
Nevada
|
BELLEVUE ASSOCIATES
|
Pennsylvania
|
BH PLAZA, LLC
|
Delaware
|
BOSTON HOTEL COMPANY, L.L.C.
|
Delaware
|
BRE/AMERISUITES PROPERTIES L.L.C.
|
Delaware
|
BRE/AMERISUITES TXNC GP L.L.C.
|
Delaware
|
BRE/AMERISUITES TXNC PROPERTIES L.P.
|
Delaware
|
BURVAN HOTEL ASSOCIATES
|
Ontario, Canada
|
CAL-HARBOR SO. PIER URBAN RENEWAL ASSOCIATES L.P.
|
New Jersey
|
CELAYA RESORTS, S. DE R.L. DE C.V.
|
Mexico
|
CHESAPEAKE COMMUNITIES, LLC
|
Maryland
|
CHESAPEAKE RESORT, LLC
|
Maryland
|
CIUDAD DEL CARMEN DIAMANTE RESORT, S. DE R.L. DE C.V.
|
Mexico
|
COAST BEACH, L.L.C.
|
Delaware
|
COMPAGNIE HOTELIERE DE LAGON BLEU
|
Papeete French Polynesia
|
CPM SEATTLE HOTELS, L.L.C.
|
Washington
|
CTR INTEREST HOLDCO, INC.
|
Delaware
|
CYPRESS TITLEHOLDER, LLC
|
Delaware
|
DALLAS REGENCY, LLC
|
Texas
|
DENVER DOWNTOWN HOTEL PARTNERS LLC
|
Delaware
|
DESARROLLADORA HOTELERA ACUEDUCTO, S. DE R.L. DE C.V.
|
Mexico
|
DH BEVERAGE, LLC
|
Texas
|
DIAMANTE RESORT LA PAZ, S. DE R.L. DE C.V.
|
Mexico
|
DISTRICT HOTEL PARTNERS, LLC
|
Puerto Rico
|
EMERYVILLE LLC
|
Delaware
|
FAN PIER LAND COMPANY
|
Delaware
|
FP ORLANDO LLC
|
Delaware
|
FAR EAST HOTELS, INC.
|
Bahamas
|
G.E.H. PROPERTIES LIMITED
|
United Kingdom
|
GAINEY DRIVE ASSOCIATES
|
Arizona
|
GALAXY AEROSPACE COMPANY, LLC
|
Delaware
|
GHE HOLDINGS LIMITED
|
Hong Kong (PRC)
|
GILBERT/HP, LLC
|
Delaware
|
GRAND HYATT BERLIN GMBH
|
Germany
|
GRAND HYATT DFW BEVERAGE, LLC
|
Texas
|
GRAND HYATT SAN ANTONIO, L.L.C.
|
Delaware
|
GRAND HYATT SF, L.L.C.
|
Delaware
|
GRAND RIVERWALK BEVERAGE, LLC
|
Texas
|
GRAND TORONTO CORP.
|
Delaware
|
GRAND TORONTO VENTURE, L.P.
|
Delaware
|
GREENWICH HOTEL LIMITED PARTNERSHIP
|
Connecticut
|
H.E. BERMUDA, L.L.C.
|
Delaware
|
H.E. CAP CANA, L.L.C.
|
Delaware
|
H.E. DRISKILL, LLC
|
Delaware
|
H.E. GRAND CYPRESS, L.L.C.
|
Delaware
|
H.E. IRVINE, L.L.C.
|
Delaware
|
H.E. KANSAS CITY, L.L.C.
|
Delaware
|
H.E. NEWPORT, L.L.C.
|
Delaware
|
H.E. ORLANDO, L.L.C.
|
Delaware
|
H.E. PROPERTIES HOLDING, L.L.C.
|
Delaware
|
H.E. PROPERTIES, L.L.C.
|
Delaware
|
H.E. SAN ANTONIO, L.L.C.
|
Delaware
|
H.E. SAN ANTONIO I, L.L.C.
|
Delaware
|
HARBORSIDE HOTEL LLC
|
Delaware
|
HARBORSIDE LAND, LLC
|
Delaware
|
HC-FW ORLANDO LLC
|
Delaware
|
HC-SJ ORLANDO LLC
|
Delaware
|
HCV CINCINNATI HOTEL, L.L.C.
|
Delaware
|
HE-CA ORLANDO LLC
|
Delaware
|
HE ORLANDO PROP CO LLC
|
Delaware
|
HE-SEATTLE, L.L.C.
|
Delaware
|
HE-SEATTLE TWO, L.L.C.
|
Delaware
|
HGP (TRAVEL) LIMITED
|
Hong Kong (PRC)
|
HH PORTLAND, L.L.C.
|
Delaware
|
HHMA BURLINGTON BEVERAGE, L.L.C.
|
Massachusetts
|
HI HOLDINGS (SWITZERLAND) GMBH
|
Switzerland
|
HI HOLDINGS BAJA B.V
.
|
Netherlands
|
HI HOLDINGS BRAZIL S.A.R.L.
|
Luxembourg
|
HI HOLDINGS CELAYA B.V.
|
Netherlands
|
HI HOLDINGS CIUDAD DEL CARMEN B.V.
|
Netherlands
|
HI HOLDINGS CYPRUS LIMITED
|
Cyprus
|
HI HOLDINGS CYPRUS-INDIA LIMITED
|
Cyprus
|
HI HOLDINGS GUADALAJARA B.V.
|
Netherlands
|
HI HOLDINGS HP CABO B.V.
|
Netherlands
|
HI HOLDINGS HP TIJUANA HOTEL B.V.
|
Netherlands
|
HI HOLDINGS KYOTO CO.
|
Delaware
|
HI HOLDINGS LA PAZ B.V.
|
Netherlands
|
HI HOLDINGS LATIN AMERICA B.V.
|
Netherlands
|
HI HOLDINGS NETHERLANDS B.V.
|
Netherlands
|
HI HOLDINGS PLAYA B.V.
|
Netherlands
|
HI HOLDINGS RIO S.A.R.L.
|
Luxembourg
|
HI HOLDINGS RIVIERA MAYA B.V.
|
Netherlands
|
HI HOLDINGS VIENNA S.A.R.L.
|
Luxembourg
|
HI HOLDINGS ZURICH S.A.R.L.
|
Luxembourg
|
HI HOTEL ADVISORY SERVICES GMBH
|
Switzerland
|
HI HOTEL INVESTORS CYPRUS LIMITED
|
Cyprus
|
HIHCL AMSTERDAM B.V.
|
Netherlands
|
HIHCL HP AMSTERDAM AIRPORT B.V.
|
Netherlands
|
HIHCL HR AMSTERDAM B.V.
|
Netherlands
|
HILP HOTEL SERVICE PROVIDER LLC
|
Delaware
|
HOTEL INVESTMENTS, L.L.C.
|
Delaware
|
HOTEL INVESTMENTS HOLDING CO LLC
|
Delaware
|
HOTEL INVESTORS I, INC.
|
Luxembourg
|
HOTEL INVESTORS II, INC.
|
Cayman Islands
|
HOTEL PROJECT SYSTEMS PTE LTD
|
Singapore
|
HOTEL SERVICES CIUDAD DEL CARMEN, S. DE R.L. DE C.V.
|
Mexico
|
HP AUSTIN, L.L.C.
|
Delaware
|
HP BEVERAGE DALLAS DFW AIRPORT, LLC
|
Texas
|
HP BEVERAGE SUGAR LAND, LLC
|
Texas
|
HP GLENDALE, L.L.C.
|
Delaware
|
HP INDIA HOLDINGS LIMITED
|
Mauritius
|
HP LAS VEGAS BEVERAGE, L.L.C.
|
Nevada
|
HP M STREET, L.L.C.
|
Delaware
|
HP OMAHA, L.L.C.
|
Delaware
|
HP ROUTE 46 TEXAS, LLC
|
Texas
|
HP SAN FRANCISCO, L.L.C.
|
Delaware
|
HP SAN JUAN, L.L.C.
|
Delaware
|
HP TEN TEXAS, LLC
|
Texas
|
HPHH DENVER, L.L.C.
|
Delaware
|
HPHH SAN JOSE, L.L.C.
|
Delaware
|
HPHH SAN JOSE JV HOLDINGS, L.L.C.
|
Delaware
|
HQ CHESAPEAKE, LLC
|
Maryland
|
HR LOST PINES RESORT LLC
|
Delaware
|
HR MC HOTEL COMPANY, S. DE R.L. DE C.V.
|
Mexico
|
HR MC SERVICES, S. DE R.L. DE C.V.
|
Mexico
|
HR MC SERVICES II, S. DE R.L. DE C.V.
|
Mexico
|
HRB HOTEL COMPANY LIMITED
|
England and Wales
|
HRHC, LLC
|
Texas
|
HT-AUSTIN RESORT, L.L.C.
|
Delaware
|
HT-AVENDRA GROUP HOLDINGS, L.L.C.
|
Delaware
|
HT-AVENDRA, L.L.C.
|
Delaware
|
HT-CHESAPEAKE COMMUNITIES, INC.
|
Delaware
|
HT-CHESAPEAKE RESORT, INC.
|
Delaware
|
HT-FISHERMAN'S WHARF, L.L.C.
|
Delaware
|
HTFW, L.L.C.
|
Delaware
|
HTG, L.L.C.
|
Delaware
|
HT-GREENVILLE, L.L.C.
|
Delaware
|
HT-HOMESTEAD, INC.
|
Delaware
|
HT-HOTEL EQUITIES, INC.
|
Delaware
|
HT-HUNTINGTON BEACH, INC.
|
Delaware
|
HT-JERSEY PIER, INC.
|
Delaware
|
HT-JERSEY PIER, L.P.
|
Delaware
|
HT-JERSEY PIER, LLC
|
Delaware
|
HTLB, L.L.C.
|
Delaware
|
HT-LISLE, INC.
|
Delaware
|
HT-LISLE HOTEL, L.L.C.
|
Delaware
|
HT-LONG BEACH, L.L.C.
|
Delaware
|
HT NAPA HOTEL, LLC
|
Delaware
|
HT-NEW ORLEANS HOTEL, L.L.C.
|
Delaware
|
HT-PARK 57, INC.
|
Delaware
|
HT ORLANDO LLC
|
Delaware
|
HT RANCHO CORDOVA, LLC
|
Delaware
|
HT-SANTA BARBARA MOTEL, INC.
|
Delaware
|
HT SANTA CLARA, LLC
|
Delaware
|
HT SAVANNAH, LLC
|
Delaware
|
HTS-ASPEN, L.L.C.
|
Delaware
|
HTS-BC, INC.
|
Delaware
|
HTSF, L.L.C.
|
Delaware
|
HTS-INVESTMENT, L,L.C.
|
Delaware
|
HTS - NS, L.L.C.
|
Delaware
|
HTS - NY, L.L.C.
|
Delaware
|
HTUP-LISLE HOTEL ASSOCIATES
|
Illinois
|
HT-VANCOUVER INC.
|
Ontario, Canada
|
HTW BEVERAGE, LLC
|
Texas
|
HY LONG BEACH HOTEL, LLC
|
Delaware
|
HYATT (BARBADOS) CORPORATION
|
Barbados
|
HYATT (JAPAN) CO., LTD.
|
Japan
|
HYATT (THAILAND) LIMITED
|
Thailand
|
HYATT ARCADE, L.L.C.
|
Delaware
|
HYATT ARUBA N.V.
|
Aruba
|
HYATT ASIA PACIFIC HOLDINGS LIMITED
|
Hong Kong (PRC)
|
HYATT AUSTRALIA HOTEL MANAGEMENT PTY LIMITED
|
Australia
|
HYATT AUSTRIA GMBH
|
Austria
|
HYATT BEACH FRONT N.V.
|
Aruba
|
HYATT BORNEO MANAGEMENT SERVICES LIMITED
|
Hong Kong (PRC)
|
HYATT BRITANNIA CORPORATION LTD.
|
Cayman
|
HYATT CC OFFICE CORP.
|
Delaware
|
HYATT CHAIN SERVICES LIMITED
|
Hong Kong (PRC)
|
HYATT CORPORATION
|
Delaware
|
HYATT CRYSTAL CITY, LLC.
|
Delaware
|
HYATT CURACAO, N.V.
|
Curacao
|
HYATT DISASTER RELIEF FUND
|
Illinois
|
HYATT DO BRASIL PARTICIPACOES LTDA
|
Brazil
|
HYATT EQUITIES (DEN), LLC
|
Delaware
|
HYATT EQUITIES, L.L.C.
|
Delaware
|
HYATT FOREIGN EMPLOYMENT SERVICES, INC.
|
Delaware
|
HYATT FRANCHISING, L.L.C.
|
Delaware
|
HYATT FRANCHISING CANADA CORP.
|
Delaware
|
HYATT FRANCHISING LATIN AMERICA, L.L.C.
|
Delaware
|
HYATT FULFILLMENT OF MARYLAND, INC.
|
Maryland
|
HYATT GTLD, L.L.C.
|
Delaware
|
HYATT HOC, INC.
|
Delaware
|
HYATT HOLDINGS (UK) LIMITED
|
United Kingdom
|
HYATT HOTELS CONSULTANCY SERVICES ASIA PACIFIC LIMITED
|
Hong Kong (PRC)
|
HYATT HOTEL MANAGEMENT LIMITED
|
Hong Kong (PRC)
|
HYATT HOTELS CORPORATION OF KANSAS
|
Kansas
|
HYATT HOTELS CORPORATION OF MARYLAND
|
Maryland
|
HYATT HOTELS FOUNDATION
|
Delaware
|
HYATT HOTELS MANAGEMENT CORPORATION
|
Delaware
|
HYATT HOTELS OF CANADA, INC.
|
Delaware
|
HYATT HOTELS OF FLORIDA, INC.
|
Delaware
|
HYATT HOTELS OF PUERTO RICO, INC.
|
Delaware
|
HYATT HOUSE CANADA, INC.
|
Delaware
|
HYATT HOUSE FRANCHISING, L.L.C.
|
Kansas
|
HYATT HOUSE HOTEL HOLDING COMPANY, L.L.C.
|
Delaware
|
HYATT INDIA CONSULTANCY PRIVATE LIMITED
|
India
|
HYATT INTERNATIONAL (ASIA) LIMITED
|
Hong Kong (PRC)
|
HYATT INTERNATIONAL (EUROPE AFRICA MIDDLE EAST) LLC
|
Switzerland
|
HYATT INTERNATIONAL MILAN, L.L.C.
|
Delaware
|
HYATT INTERNATIONAL CORPORATION
|
Delaware
|
HYATT INTERNATIONAL HOLDINGS CO.
|
Delaware
|
HYATT INTERNATIONAL HOTEL MANAGEMENT (BEIJING) CO. LTD.
|
People’s Republic of China
|
HYATT INTERNATIONAL PROPERTY MANAGEMENT (BEIJING) CO. LTD.
|
People’s Republic of China
|
HYATT INTERNATIONAL TECHNICAL SERVICES, INC.
|
Delaware
|
HYATT INTERNATIONAL –ASIA PACIFIC, LIMITED
|
Hong Kong (PRC)
|
HYATT INTERNATIONAL – JAPAN, LIMITED
|
Hong Kong (PRC)
|
HYATT INTERNATIONAL –SEA, (PTE) LIMITED
|
Singapore
|
HYATT INTERNATIONAL – SOUTHWEST ASIA, LIMITED
|
Dubai
|
HYATT JV HOLDINGS, L.L.C.
|
Delaware
|
HYATT LACSA SERVICES, INC.
|
Delaware
|
HYATT LOUISIANA, L.L.C.
|
Delaware
|
HYATT MAINZ GMBH
|
Germany
|
HYATT MARKETING SERVICES, INC.
|
Delaware
|
HYATT MINNEAPOLIS, LLC
|
Delaware
|
HYATT MARKETING SERVICES NIGERIA COMPANY LIMITED
|
Nigeria
|
HYATT MINORITY INVESTMENTS, INC.
|
Delaware
|
HYATT MSS, L.L.C.
|
Delaware
|
HYATT NORTH AMERICA MANAGEMENT SERVICES, INC.
|
Delaware
|
HYATT OF AUSTRALIA LIMITED
|
Hong Kong (PRC)
|
HYATT OF BAJA S. DE R.L. DE C.V.
|
Mexico
|
HYATT OF CHINA LIMITED
|
Hong Kong (PRC)
|
HYATT OF FRANCE S.A.R.L.
|
France
|
HYATT OF GUAM LIMITED
|
Hong Kong (PRC)
|
HYATT OF ITALY S.R.L.
|
Italy
|
HYATT OF LATIN AMERICA AND CARIBBEAN, L.L.C.
|
Delaware
|
HYATT OF LATIN AMERICA, S.A. DE C.V.
|
Mexico
|
HYATT OF MACAU LIMITED
|
Hong Kong (PRC)
|
HYATT OF MEXICO, S.A. DE C.V.
|
Mexico
|
HYATT OF PHILIPPINES LIMITED
|
Hong Kong (PRC)
|
HYATT PARTNERSHIP INTERESTS, L.L.C.
|
Delaware
|
HYATT PLACE ANNE ARUNDEL BEVERAGE, INC.
|
Maryland
|
HYATT PLACE CANADA CORPORATION
|
Delaware
|
HYATT PLACE FRANCHISING, L.L.C.
|
Delaware
|
HYATT PLACE OF MARYLAND, INC.
|
Maryland
|
HYATT REGENCY COLOGNE GMBH
|
Germany
|
HYATT REGENCY CORPORATION PTY. LIMITED
|
Australia
|
HYATT SERVICES AUSTRALIA PTY LIMITED
|
Australia
|
HYATT SERVICES CANADA, INC.
|
Ontario, Canada
|
HYATT SERVICES CARIBBEAN, L.L.C.
|
Delaware
|
HYATT SERVICES GMBH
|
Germany
|
HYATT SERVICES INDIA PRIVATE LIMITED
|
India
|
HYATT SHARED SERVICE CENTER, L.L.C.
|
Delaware
|
HYATT TRINIDAD LIMITED
|
Trinidad and Tobago
|
HYCANADA INC.
|
Alberta, Canada
|
HYCARD, INC.
|
Delaware
|
HYEX 57 HOTEL LLC
|
Delaware
|
HYSTAR, L.L.C.
|
Delaware
|
INFORMATION SERVICES LIMITED
|
Hong Kong (PRC)
|
INTERNATIONAL RESERVATIONS LIMITED
|
Hong Kong (PRC)
|
JOINT VENTURE ITALKYR CLOSED JOINT STOCK COMPANY
|
Kyrgyz Republic
|
JUNIPER HOTELS PRIVATE LIMITED
|
India
|
KSA MANAGEMENT, INC.
|
Kansas
|
KYOTO HOLDING CO.
|
Cayman Islands
|
LHR-PARTNERS, LTD.
|
Kentucky
|
LORING PARK ASSOCIATES, LIMITED PARTNERSHIP
|
Minnesota
|
LOST PINES BEVERAGE, LLC
|
Texas
|
MACAE PARTNERS S.A.R.L.
|
Luxembourg
|
MAHIMA HOLDINGS PRIVATE LIMITED
|
India
|
MARION RESERVATION CENTER, L.L.C.
|
Delaware
|
MEXICO CITY HOTEL INVESTMENTS B.V.
|
Netherlands
|
MILAN HOTEL INVESTMENTS B.V.
|
Netherlands
|
MUNICH OPCO GMBH
|
Germany
|
ORLANDO OPCO, INC.
|
Delaware
|
OX PROP LLC
|
Delaware
|
PT HYATT INDONESIA
|
Indonesia
|
PARIS HOTEL COMPANY B.V.
|
Netherlands
|
PARK HYATT HAMBURG GMBH
|
Germany
|
PARK HYATT HOTEL GMBH
|
Switzerland
|
PARK HYATT WATER TOWER ASSOCIATES, L.L.C.
|
Illinois
|
PH NEW YORK L.L.C.
|
Delaware
|
POLK SMITH REGENCY, LLC
|
Texas
|
PVD INVESTMENT COMPANY S.A.R.L.
|
Luxembourg
|
RCG PROPERTIES, LLC
|
Georgia
|
REGENCY BEVERAGE COMPANY, LLC
|
Texas
|
REGENCY RIVERWALK BEVERAGE, LLC
|
Texas
|
RESERVATIONS CENTER, L.L.C.
|
Delaware
|
RIO JV PARTNERS PARTICIPACOES LTDA.
|
Brazil
|
RIP PRETO PARTNERS HOTEIS LTDA.
|
Brazil
|
RIO PRETO PARTNERS S.A.R.L.
|
Luxembourg
|
ROSEMONT PROJECT MANAGEMENT, L.L.C.
|
Delaware
|
ROUTE 46 MANAGEMENT ASSOCIATES CORP.
|
Delaware
|
ROYAL PALM RESORT, L.L.C.
|
Delaware
|
RUNWAY, L.L.C.
|
Texas
|
RUNWAY HOLDING, L.L.C.
|
Delaware
|
SAO PAULO INVESTMENT COMPANY INC.
|
Panama
|
SAO PAULO INVESTORS LIMITED
|
Bahamas
|
SASIH
|
France
|
SDI EQUITIES INVESTOR, L.L.C.
|
Nevada
|
SDI SECURITIES 11, LLC
|
Nevada
|
SDI SECURITIES 6, LLC
|
Nevada
|
SDI, INC.
|
Nevada
|
SELECT HOTELS GROUP, L.L.C.
|
Delaware
|
SELECT JV HOLDINGS, L.L.C.
|
Delaware
|
SEOUL MIRAMAR CORPORATION
|
Korea
|
SERVICIOS DE HOTELERIA SAN JOSE, S. DE R.L. DE C.V.
|
Mexico
|
SERVICIOS HOTELEROS LA PAZ, S. DE R.L. DE C.V.
|
Mexico
|
SETTLEMENT INVESTORS INC.
|
Bahamas
|
SHG PUERTO RICO, INC.
|
Delaware
|
SJC DESARROLLOS, S. DE R.L. DE C.V.
|
Mexico
|
SKS CORP. N.V.
|
Curacao
|
SMC HOTELS B.V.
|
Netherlands
|
SOROCABA PARTNERS HOTEIS LTDA.
|
Brazil
|
SOROCABA PARTNERS S.A.R.L.
|
Luxembourg
|
STANHOPE, L.L.C.
|
Delaware
|
STARHILL LORING PARK, L.L.C.
|
Delaware
|
SUGAR LAND/HP, LLC
|
Delaware
|
THE GREAT EASTERN HOTEL COMPANY LIMITED
|
England and Wales
|
THE GREAT EASTERN HOTEL HOLDING COMPANY LIMITED
|
England and Wales
|
TIJUANA PARTNERS, S. DE R.L. DE C.V.
|
Mexico
|
TWO SEAS HOLDINGS LIMITED
|
Mauritius
|
WAILEA HOTEL & BEACH RESORT, L.L.C.
|
Delaware
|
WAILEA HOTEL HOLDINGS, L.L.C.
|
Delaware
|
WAILEA MANAGEMENT ASSOCIATION, L.L.C.
|
Delaware
|
WAILEA RESORT VILLAS, L.L.C.
|
Delaware
|
WEST END RESIDENCES, L.L.C.
|
Delaware
|
WOODFIELD FINANCIAL CONSORTIUM, L.L.C.
|
Delaware
|
XENIA ASSURANCE COMPANY, INC.
|
Arizona
|
ZURICH ESCHERWIESE HOTEL GMBH
|
Switzerland
|
ZURICH HOTEL INVESTMENTS B.V.
|
Netherlands
|
|
|
|
SUBSIDIARY: ARUBA BEACHFRONT RESORTS LIMITED PARTNERSHIP
|
Names under which such subsidiary does business:
|
|
|
Hyatt Regency Aruba Resort and Casino
|
|
|
|
|
SUBSIDIARY: BAKU HOTEL COMPANY
|
Names under which such subsidiary does business:
|
|
|
Baku Office Tower
|
|
|
Hyatt Regency Baku
|
|
|
Baku Residential Tower
|
|
|
|
|
SUBSIDIARY: HIHCL AMSTERDAM B.V.
|
Names under which such subsidiary does business:
|
|
|
Andaz Amsterdam Prinsengracht
|
|
|
|
|
SUBSIDIARY: HIHCL HP AMSTERDAM AIRPORT B.V.
|
Names under which such subsidiary does business:
|
|
|
Hyatt Place Amsterdam Airport
|
|
|
|
|
SUBSIDIARY: GRAND HYATT BERLIN GMBH
|
Names under which such subsidiary does business:
|
|
|
Grand Hyatt Berlin
|
|
|
|
|
SUBSIDIARY: HR MC SERVICES, S. DE R.L. DE C.V.
|
Names under which such subsidiary does business:
|
|
|
Hyatt Regency Mexico City
|
|
|
|
|
SUBSIDIARY: HRB HOTEL COMPANY LIMITED
|
Names under which such subsidiary does business:
|
|
|
Hyatt Regency Birmingham
|
|
|
|
|
SUBSIDIARY: HYATT CORPORATION
|
Names under which such subsidiary does business:
|
|
|
Hyatt Regency Phoenix
|
|
|
Hyatt Regency Scottsdale Resort and Spa at Gainey Ranch
|
|
|
Park Hyatt Aviara Resort
|
|
|
Hyatt Carmel Highlands – Overlooking Big Sur Coast
|
|
|
Hyatt Regency Century Plaza
|
|
|
Hyatt Regency Indian Wells Resort & Spa
|
|
|
Hyatt Regency Huntington Beach Resort and Spa
|
|
|
Hyatt Regency La Jolla at Aventine
|
|
|
Hyatt Centric The Pike Long Beach
|
|
|
Hyatt Regency Long Beach
|
|
|
Hyatt Regency Mission Bay Spa and Marina
|
|
|
Hyatt Regency Monterey Hotel and Spa on Del Monte Golf Course
|
|
|
Andaz Napa
|
|
|
Hyatt Regency Newport Beach
|
|
|
Hyatt Regency Orange County
|
|
|
Hyatt Regency Sacramento
|
|
|
Andaz San Diego
|
|
|
Manchester Grand Hyatt San Diego
|
|
|
Grand Hyatt San Francisco
|
|
|
Hyatt Regency San Francisco
|
|
|
Hyatt Regency San Francisco Airport
|
|
Hyatt Regency Santa Clara
|
|
|
Andaz West Hollywood
|
|
|
Park Hyatt Beaver Creek Resort and Spa
|
|
|
Grand Hyatt Denver
|
|
|
Hyatt Regency Denver at Colorado Convention Center
|
|
|
Hyatt Regency Greenwich
|
|
|
Grand Hyatt Washington
|
|
|
Hyatt Regency Washington on Capitol Hill
|
|
|
Park Hyatt Washington
|
|
|
Hyatt Regency Coconut Point Resort and Spa
|
|
|
Hyatt Regency Coral Gables
|
|
|
Hyatt Regency Clearwater Beach Resort and Spa
|
|
|
Hyatt Regency Grand Cypress
|
|
|
Hyatt Regency Jacksonville Riverfront
|
|
|
Hyatt Key West Resort and Spa
|
|
|
Hyatt Regency Miami
|
|
|
Hyatt Regency Orlando International Airport
|
|
|
Hyatt Regency Sarasota
|
|
|
Grand Hyatt Tampa Bay
|
|
|
Grand Hyatt Atlanta in Buckhead
|
|
|
Hyatt Regency Atlanta
|
|
|
Andaz Savannah
|
|
|
Hyatt Regency Savannah
|
|
|
Grand Hyatt Kauai Resort and Spa
|
|
|
Hyatt Regency Maui Resort and Spa
|
|
|
Hyatt Regency Waikiki Beach Resort and Spa
|
|
|
Andaz Maui at Wailea Resort
|
|
|
Hyatt Regency Chicago
|
|
|
Park Hyatt Chicago
|
|
|
The Hyatt Lodge at McDonald’s Campus
|
|
|
Hyatt Regency McCormick Place
|
|
|
Hyatt Regency O’Hare
|
|
|
Hyatt Regency Louisville
|
|
|
Hyatt Regency New Orleans
|
|
|
Hyatt Regency Chesapeake Bay Golf Resort, Spa and Marina
|
|
|
Hyatt Regency Boston
|
|
|
Hyatt Regency Cambridge, Overlooking Boston
|
|
|
Hyatt Regency Boston Harbor
|
|
|
Hyatt Regency Minneapolis
|
|
|
Hyatt Regency St. Louis at The Arch
|
|
|
Hyatt Regency Lake Tahoe Resort, Spa and Casino
|
|
|
Hyatt Regency Jersey City on the Hudson
|
|
|
Hyatt Morristown at Headquarters Plaza
|
|
|
Hyatt Regency New Brunswick
|
|
|
Hyatt Regency Tamaya Resort and Spa
|
|
|
Andaz 5th Avenue
|
|
|
Hyatt Regency Buffalo/Hotel and Conference Center
|
|
|
Grand Hyatt New York
|
|
|
Hyatt Regency Rochester
|
|
|
Hyatt Times Square New York
|
|
Grand Hyatt Seoul
|
|
|
|
|
SUBSIDIARY: SELECT HOTELS GROUP, L.L.C.
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Names under which such subsidiary does business:
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Hyatt Place Phoenix/Gilbert
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Hyatt Place Phoenix-North
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Hyatt Place Scottsdale/Old Town
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Hyatt Place Tempe/Phoenix Airport
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Hyatt Place Tucson Airport
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HYATT house Cypress/Anaheim
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HYATT house Emeryville/San Francisco Bay Area
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Hyatt Place Fremont/Silicon Valley
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HYATT house San Diego/Sorrento Mesa
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HYATT house San Jose/Silicon Valley
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HYATT house San Ramon
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HYATT house Santa Clara
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Hyatt Place Colorado Springs/Garden of the Gods
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Hyatt Place Denver-South/Park Meadows
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Hyatt Place Denver Tech Center
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Hyatt House Denver Tech Center
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Hyatt Place Orlando Airport
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Hyatt Place Orlando/Convention Center
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Hyatt Place Orlando/Universal
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Hyatt Place Atlanta Airport-South
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Hyatt Place Atlanta/Buckhead
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Hyatt Place Atlanta/Cobb Galleria
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Hyatt Place Atlanta/Duluth/Gwinnett Mall
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Hyatt Place Chicago/Hoffman Estates
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Hyatt Place Chicago/Lombard/Oak Brook
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Hyatt Place Fort Wayne
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Hyatt Place Indianapolis Airport
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Hyatt Place Kansas City/Overland Park/Convention Center
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Hyatt House New Orleans/Downtown
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Hyatt Place Baltimore/Owings Mills
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Hyatt Place Detroit/Utica
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Hyatt Place Minneapolis/Downtown
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Hyatt Place Kansas City Airport
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Hyatt Place Mt. Laurel
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HYATT house Charlotte/Center City
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Hyatt Place Charlotte Airport/Lake Pointe
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Hyatt Place Columbus/Dublin
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Hyatt House San Juan
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Hyatt Place San Juan/Bayamon
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Hyatt Place Manati
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Hyatt House Charleston/Historic District
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Hyatt Place Charleston/Historic District
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Hyatt Place Nashville/Hendersonville
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Hyatt Place Austin-North Central
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Hyatt Place Dallas/Arlington
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Hyatt Place Dallas-North By the Galleria
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Hyatt Place El Paso Airport
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Hyatt Place Houston/Sugar Land
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Hyatt Place San Antonio/Riverwalk
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Hyatt Place Chantilly/Dulles Airport-South
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Hyatt Place Sterling/Dulles Airport-North
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Hyatt Place Madison/Downtown
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SUBSIDIARY: THE GREAT EASTERN HOTEL COMPANY LIMITED
|
Names under which such subsidiary does business:
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Andaz Liverpool Street
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1.
|
I have reviewed this annual report on Form 10-K of Hyatt Hotels Corporation;
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2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
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4.
|
The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
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a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
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b)
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Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
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d)
|
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
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5.
|
The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
|
|
|
Date: February 18, 2016
|
/s/ Mark S. Hoplamazian
|
|
Mark S. Hoplamazian
|
|
President and Chief Executive Officer
(Principal Executive Officer)
|
1.
|
I have reviewed this annual report on Form 10-K of Hyatt Hotels Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
|
5.
|
The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
|
|
|
Date: February 18, 2016
|
/s/ Atish Shah
|
|
Atish Shah
|
|
Senior Vice President, Interim Chief Financial Officer
(Principal Financial Officer)
|
(1)
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
|
|
/s/ Mark S. Hoplamazian
|
|
Name:
|
Mark S. Hoplamazian
|
Title:
|
President and Chief Executive Officer
(Principal Executive Officer)
|
(1)
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
|
|
/s/ Atish Shah
|
|
Name:
|
Atish Shah
|
Title:
|
Senior Vice President, Interim Chief Financial Officer
(Principal Financial Officer)
|
TRUSTEES:
|
/s/ Thomas J. Pritzker
|
Thomas J. Pritzker
|
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
|
/s/ Karl J. Breyer
|
Karl J. Breyer
|
|
ADULT BENEFICIARIES:
|
/s/ Nicholas J. Pritzker
|
Nicholas J. Pritzker
|
|
/s/ Thomas J. Pritzker
|
Thomas J. Pritzker
|
|
/s/ James N. Pritzker
|
James N. Pritzker
|
|
/s/ John A. Pritzker
|
John A. Pritzker
|
|
/s/ Linda Pritzker
|
Linda Pritzker
|
|
/s/ Karen L. Pritzker
|
Karen L. Pritzker
|
|
/s/ Penny Pritzker
|
Penny Pritzker
|
/s/ Anthony N. Pritzker
|
Anthony N. Pritzker
|
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
|
/s/ Jay Robert Pritzker
|
Jay Robert Pritzker
|
|
/s/ Joseph B. Pritzker
|
Joseph B. Pritzker
|
|
/s/ Regan Pritzker
|
Regan Pritzker
|
|
/s/ Rachel Pritzker Hunter
|
Rachel Pritzker Hunter
|
|
/s/ Roland Bacon Pritzker
|
Roland Bacon Pritzker
|
|
/s/ Jason N. Pritzker
|
Jason N. Pritzker
|
|
/s/ Benjamin T. Pritzker
|
Benjamin T. Pritzker
|
|
/s/ Rosemary Pritzker
|
Rosemary Pritzker
|
|
/s/ Tal Hava Pritzker
|
Tal Hava Pritzker
|
|
/s/ Jacob N. Pritzker
|
Jacob N. Pritzker
|
|
/s/ David T. Pritzker
|
David T. Pritzker
|
/s/ Allison Pritzker Schwartz
|
Allison Pritzker Schwartz
|
|
/s/ Adam Pritzker
|
Adam Pritzker
|
|
/s/ Isaac Pritzker
|
Isaac Pritzker
|
|
/s/ Noah Pritzker
|
Noah Pritzker
|
|
/s/ Dana Jean Pritzker Schwartz
|
Dana Jean Pritzker Schwartz
|
|
/s/ Donald Pritzker Traubert
|
Donald Pritzker Traubert
|
A.N.P. TRUST # 1
|
A.N.P. TRUST # 2
|
A.N.P. TRUST # 3
|
A.N.P. TRUST # 4-DANIEL
|
A.N.P. TRUST # 4-JOHN
|
A.N.P. TRUST # 5-DANIEL
|
A.N.P. TRUST # 5-JEAN
|
A.N.P. TRUST # 6
|
A.N.P. TRUST # 7A
|
A.N.P. TRUST # 7B
|
A.N.P. TRUST # 7C
|
A.N.P. TRUST # 7D
|
A.N.P. TRUST # 8
|
A.N.P. TRUST # 9
|
A.N.P. TRUST #10
|
A.N.P. TRUST #11
|
A.N.P. TRUST #12
|
A.N.P. TRUST #13A
|
A.N.P. TRUST #13B
|
A.N.P. TRUST #13C
|
A.N.P. TRUST #13D
|
A.N.P. TRUST #14
|
A.N.P. TRUST #15
|
A.N.P. TRUST #16
|
A.N.P. TRUST #17
|
A.N.P. TRUST #18-JOHN
|
A.N.P. TRUST #18-THOMAS
|
A.N.P. TRUST #19
|
A.N.P. TRUST #20
|
A.N.P. TRUST #21
|
A.N.P. TRUST #22-JAMES
|
A.N.P. TRUST #22-LINDA
|
A.N.P. TRUST #23-KAREN
|
A.N.P. TRUST #23-LINDA
|
A.N.P. TRUST #24-JAMES
|
A.N.P. TRUST #24-KAREN
|
A.N.P. TRUST #25
|
A.N.P. TRUST #26
|
A.N.P. TRUST #27
|
A.N.P. TRUST #28-JAMES
|
A.N.P. TRUST #28-LINDA
|
A.N.P. TRUST #29-KAREN
|
A.N.P. TRUST #29-LINDA
|
A.N.P. TRUST #30-JAMES
|
A.N.P. TRUST #30-KAREN
|
A.N.P. TRUST #31
|
A.N.P. TRUST #32
|
A.N.P. TRUST #33
|
A.N.P. TRUST #34-ANTHONY
|
A.N.P. TRUST #34-PENNY
|
A.N.P. TRUST #35-ANTHONY
|
A.N.P. TRUST #35-JAY ROBERT
|
A.N.P. TRUST #36-JAY ROBERT
|
A.N.P. TRUST #36-PENNY
|
A.N.P. TRUST #37
|
A.N.P. TRUST #38
|
A.N.P. TRUST #39
|
A.N.P. TRUST #40-ANTHONY
|
A.N.P. TRUST #40-PENNY
|
A.N.P. TRUST #41-ANTHONY
|
A.N.P. TRUST #41-JAY ROBERT
|
A.N.P. TRUST #42-JAY ROBERT
|
A.N.P. TRUST #42-PENNY
|
AMARILLO RESIDUARY TRUST # 1
|
AMARILLO RESIDUARY TRUST # 2
|
AMARILLO RESIDUARY TRUST # 3
|
AMARILLO RESIDUARY TRUST # 4
|
AMARILLO RESIDUARY TRUST # 5
|
AMARILLO RESIDUARY TRUST # 6
|
AMARILLO RESIDUARY TRUST # 7
|
AMARILLO RESIDUARY TRUST # 8
|
AMARILLO RESIDUARY TRUST # 9
|
AMARILLO RESIDUARY TRUST #10
|
DNP RESIDUARY TRUST #1
|
DNP RESIDUARY TRUST #2
|
DNP RESIDUARY TRUST #3
|
DNP RESIDUARY TRUST #4
|
DNP RESIDUARY TRUST #5
|
DNP RESIDUARY TRUST #6
|
DNP RESIDUARY TRUST #7
|
DNP RESIDUARY TRUST #8
|
DNP RESIDUARY TRUST #9
|
DON G.C. TRUST #1
|
DON G.C. TRUST #2
|
DON G.C. TRUST #3
|
DON G.C. TRUST #4
|
DON G.C. TRUST #5
|
DON G.C. TRUST #6
|
DON G.C. TRUST #7
|
DON G.C. TRUST #8
|
DON G.C. TRUST #9
|
DON G.C. TRUST #10
|
DON TRUST NO. 25
|
ECI FAMILY TRUST #1
|
ECI FAMILY TRUST #2
|
ECI FAMILY TRUST #3
|
ECI FAMILY TRUST #4
|
ECI FAMILY TRUST #5
|
ECI FAMILY TRUST #6
|
ECI QSST TRUST #1
|
ECI QSST TRUST #2
|
ECI QSST TRUST #3
|
ECI QSST TRUST #4
|
ECI QSST TRUST #5
|
ECI QSST TRUST #6
|
F. L. P. RESIDUARY TRUST # 1
|
F. L. P. RESIDUARY TRUST # 5
|
F. L. P. RESIDUARY TRUST # 6
|
F. L. P. RESIDUARY TRUST # 9
|
F. L. P. RESIDUARY TRUST #11
|
F. L. P. RESIDUARY TRUST #12
|
F. L. P. RESIDUARY TRUST #13
|
F. L. P. RESIDUARY TRUST #14
|
F. L. P. RESIDUARY TRUST #15
|
F. L. P. RESIDUARY TRUST #16
|
F. L. P. RESIDUARY TRUST #17
|
F. L. P. RESIDUARY TRUST #18
|
F. L. P. RESIDUARY TRUST #19
|
F. L. P. RESIDUARY TRUST #20
|
F. L. P. RESIDUARY TRUST #21
|
F. L. P. RESIDUARY TRUST #22
|
F. L. P. RESIDUARY TRUST #23
|
F. L. P. RESIDUARY TRUST #24
|
F. L. P. RESIDUARY TRUST #25
|
F. L. P. RESIDUARY TRUST #26
|
F. L. P. RESIDUARY TRUST #27
|
F. L. P. RESIDUARY TRUST #28
|
F. L. P. RESIDUARY TRUST #29
|
F. L. P. RESIDUARY TRUST #30
|
F. L. P. RESIDUARY TRUST #31
|
F. L. P. RESIDUARY TRUST #32
|
F. L. P. RESIDUARY TRUST #33
|
F. L. P. RESIDUARY TRUST #34
|
F. L. P. RESIDUARY TRUST #35
|
F. L. P. RESIDUARY TRUST #36
|
F. L. P. RESIDUARY TRUST #37
|
F. L. P. RESIDUARY TRUST #38
|
F. L. P. RESIDUARY TRUST #39
|
F. L. P. RESIDUARY TRUST #40
|
F. L. P. RESIDUARY TRUST #41
|
F. L. P. RESIDUARY TRUST #42
|
F. L. P. RESIDUARY TRUST #43
|
F. L. P. RESIDUARY TRUST #44
|
F. L. P. RESIDUARY TRUST #45
|
F. L. P. RESIDUARY TRUST #46
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F. L. P. RESIDUARY TRUST #47
|
F. L. P. RESIDUARY TRUST #48
|
F. L. P. RESIDUARY TRUST #49
|
F. L. P. RESIDUARY TRUST #50
|
F. L. P. RESIDUARY TRUST #51
|
F. L. P. RESIDUARY TRUST #52
|
F. L. P. RESIDUARY TRUST #53
|
F. L. P. RESIDUARY TRUST #54
|
F. L. P. RESIDUARY TRUST #55
|
F. L. P. RESIDUARY TRUST #56
|
F. L. P. TRUST NO. 10
|
F. L. P. TRUST NO. 11
|
F. L. P. TRUST NO. 12
|
F. L. P. TRUST NO. 13
|
F. L. P. TRUST NO. 14
|
F. L. P. TRUST NO. 15
|
F. L. P. TRUST NO. 16
|
F. L. P. TRUST NO. 17
|
F. L. P. TRUST NO. 19
|
F. L. P. TRUST NO. 20
|
F. L. P. TRUST NO. 21
|
LA SALLE G.C. TRUST #2
|
LA SALLE G.C. TRUST #3
|
LA SALLE G.C. TRUST #4
|
LA SALLE G.C. TRUST #5
|
LA SALLE G.C. TRUST #6
|
LA SALLE G.C. TRUST #7
|
LA SALLE G.C. TRUST #8
|
LA SALLE G.C. TRUST #9
|
LA SALLE G.C. TRUST #10
|
LA SALLE G.C. TRUST #11
|
LA SALLE TRUST #13
|
LA SALLE TRUST #14
|
LA SALLE TRUST #15
|
LA SALLE TRUST #17
|
LA SALLE TRUST #18
|
LA SALLE TRUST #19
|
LA SALLE TRUST #27
|
LA SALLE TRUST #41
|
LA SALLE TRUST #42
|
LA SALLE TRUST #43
|
LA SALLE TRUST #44
|
LA SALLE TRUST #45
|
LA SALLE TRUST #46
|
LA SALLE TRUST #47
|
LA SALLE TRUST #48
|
LA SALLE TRUST #49
|
LA SALLE TRUST #50
|
LA SALLE TRUST #51
|
LA SALLE TRUST #52
|
LA SALLE TRUST #53
|
LA SALLE TRUST #54
|
LA SALLE TRUST #55
|
LA SALLE TRUST #56
|
LA SALLE TRUST #57
|
LA SALLE TRUST #58
|
LA SALLE TRUST #59
|
LA SALLE TRUST #60
|
LA SALLE TRUST #61
|
LA SALLE TRUST # 62
|
LA SALLE TRUST NO. 63
|
LA SALLE TRUST NO. 64
|
N.F.P. QSST TRUST NO. 21
|
BANDON TRUST-OREGON # 1
|
BARVIEW TRUST-OREGON # 2
|
BROWNSVILLE TRUST-OREGON # 3
|
CARLTON TRUST-OREGON # 4
|
CLAKAMAS TRUST-OREGON # 5
|
CLATSKANIE TRUST-OREGON # 6
|
CRESWELL TRUST-OREGON # 7
|
DRAIN TRUST-OREGON # 8
|
EASTSIDE TRUST-OREGON # 9
|
ELGIN TRUST-OREGON # 10
|
ENTERPRISE TRUST-OREGON # 11
|
ESTACADA TRUST-OREGON # 12
|
FAIRVIEW TRUST-OREGON # 13
|
GARIBALDI TRUST-OREGON # 14
|
GREEN TRUST-OREGON # 15
|
HARRISBURG TRUST-OREGON # 16
|
FOSSIL TRUST-OREGON # 17
|
GARDINER TRUST-OREGON # 18
|
GEARHART TRUST-OREGON # 19
|
GERVAIS TRUST-OREGON # 20
|
GILCHRIST TRUST-OREGON # 21
|
GLENDALE TRUST-OREGON # 22
|
GLENMORRIE TRUST-OREGON # 23
|
GLIDE TRUST-OREGON # 24
|
HARBOR TRUST-OREGON # 25
|
HUBBARD TRUST-OREGON # 26
|
HUNTINGTON TRUST-OREGON # 27
|
JOSEPH TRUST-OREGON # 28
|
KINZUA TRUST-OREGON # 29
|
LAFAYETTE TRUST-OREGON # 30
|
LEWISBURG TRUST-OREGON # 31
|
LOWELL TRUST-OREGON # 32
|
AMITY TRUST-OREGON # 33
|
APPLEGATE TRUST-OREGON # 34
|
ATHENA TRUST-OREGON # 35
|
AUMSVILLE TRUST-OREGON # 36
|
BELLEVIEW TRUST-OREGON # 37
|
BLY TRUST-OREGON # 38
|
CANYONVILLE TRUST-OREGON # 39
|
CHARLESTON TRUST-OREGON # 40
|
CHILOQUIN TRUST-OREGON # 41
|
COBURG TRUST-OREGON # 42
|
CONDON TRUST-OREGON # 43
|
DAYTON TRUST-OREGON # 44
|
DILLARD TRUST-OREGON # 45
|
DUNDEE TRUST-OREGON # 46
|
DUNES TRUST-OREGON # 47
|
ELMIRA TRUST-OREGON # 48
|
CANYON TRUST-OREGON # 49
|
BEECH TRUST-OREGON # 50
|
BATTLE TRUST-OREGON # 51
|
BLUE TRUST-OREGON # 52
|
SEBASTIAN TRUST-OREGON # 53
|
CAMAS TRUST-OREGON # 54
|
LOW TRUST-OREGON # 55
|
ALSEA TRUST-OREGON # 56
|
BROGAN TRUST-OREGON # 57
|
BURNT TRUST-OREGON # 58
|
HAYES TRUST-OREGON # 59
|
PARKER TRUST-OREGON # 60
|
GRASS TRUST-OREGON # 61
|
NECANIUM TRUST-OREGON # 62
|
SISKIYOU TRUST-OREGON # 63
|
WILLAMETTE TRUST-OREGON # 64
|
BEAVERTON TRUST-OREGON # 65
|
CORVALLIS TRUST-OREGON # 66
|
EUGENE TRUST-OREGON # 67
|
MEDFORD TRUST-OREGON # 68
|
PARKROSE TRUST-OREGON # 69
|
PORTLAND TRUST-OREGON # 70
|
SALEM TRUST-OREGON # 71
|
SPRINGFIELD TRUST-OREGON # 72
|
ALBANY TRUST-OREGON # 73
|
ALTAMONT TRUST-OREGON # 74
|
BEND TRUST-OREGON # 75
|
GRESHAM TRUST-OREGON # 76
|
HILLSBORO TRUST-OREGON # 77
|
KEIZER TRUST-OREGON # 78
|
MILWAUKIE TRUST-OREGON # 79
|
PENDLETON TRUST-OREGON # 80
|
DALLAS TRUST-OREGON # 81
|
GLADESTONE TRUST-OREGON # 82
|
HAYESVILLE TRUST-OREGON # 83
|
LEBANON TRUST-OREGON # 84
|
NEWBERG TRUST-OREGON # 85
|
POWELLHURST TRUST-OREGON # 86
|
ROCKWOOD TRUST-OREGON # 87
|
WOODBURN TRUST-OREGON # 88
|
ANTELOPE TRUST-OREGON # 89
|
DREWSEY TRUST-OREGON # 90
|
GRANITE TRUST-OREGON # 91
|
GREENHORN TRUST-OREGON # 92
|
HARDMAN TRUST-OREGON # 93
|
JUNTURA TRUST-OREGON # 94
|
LONEROCK TRUST-OREGON # 95
|
SHANIKO TRUST-OREGON # 96
|
ARAGO TRUST-OREGON # 97
|
BAYSHORE TRUST-OREGON # 98
|
BEATTY TRUST-OREGON # 99
|
BIRKENFELD TRUST-OREGON #100
|
BLODGETT TRUST-OREGON #101
|
BROADBENT TRUST-OREGON #102
|
BURLINGTON TRUST-OREGON #103
|
CHESHIRE TRUST-OREGON #104
|
COOSTON TRUST-OREGON #105
|
DODSON TRUST-OREGON #106
|
DREW TRUST-OREGON #107
|
DURKEE TRUST-OREGON #108
|
ENGLEWOOD TRUST-OREGON #109
|
FIRWOOD TRUST-OREGON #110
|
HARPER TRUST-OREGON #111
|
JAMIESON TRUST-OREGON #112
|
ALOHA TRUST-OREGON #113
|
BATTIN TRUST-OREGON #114
|
BROOKINGS TRUST-OREGON #115
|
BURNS TRUST-OREGON #116
|
CANBY TRUST-OREGON #117
|
COQUILLE TRUST-OREGON #118
|
GILBERT TRUST-OREGON #119
|
GLENDOVEER TRUST-OREGON #120
|
HAZELWOOD TRUST-OREGON #121
|
HERMISTON TRUST-OREGON #122
|
KENDALL TRUST-OREGON #123
|
METZGER TRUST-OREGON #124
|
MONMOUTH TRUST-OREGON #125
|
NEWPORT TRUST-OREGON #126
|
OAKRIDGE TRUST-OREGON #127
|
ONTARIO TRUST-OREGON #128
|
BAKER TRUST-OREGON #129
|
BENTON TRUST-OREGON #130
|
CURRY TRUST-OREGON #131
|
DOUGLAS TRUST-OREGON #132
|
GRANT TRUST-OREGON #133
|
LAKE TRUST-OREGON #134
|
MARION TRUST-OREGON #135
|
POLK TRUST-OREGON #136
|
COLUMBIA TRUST-OREGON #137
|
GILLIAM TRUST-OREGON #138
|
CLERK TRUST-OREGON #139
|
JACKSON TRUST-OREGON #140
|
JEFFERSON TRUST-OREGON #141
|
KLAMATH TRUST-OREGON #142
|
LINN TRUST-OREGON #143
|
MORROW TRUST-OREGON #144
|
CLATSOP TRUST-OREGON #145
|
COOS TRUST-OREGON #146
|
JOSEPHINE TRUST-OREGON #147
|
LANE TRUST-OREGON #148
|
MALHEUR TRUST-OREGON #149
|
SHERMAN TRUST-OREGON #150
|
UNION TRUST-OREGON #151
|
WASCO TRUST-OREGON #152
|
CRESCENT TRUST-OREGON #153
|
SUMMIT TRUST-OREGON #154
|
MILLER TRUST-OREGON #155
|
DAVIS TRUST-OREGON #156
|
OWYHEE TRUST-OREGON #157
|
COW TRUST-OREGON #158
|
MAGONE TRUST-OREGON #159
|
OSWEGO TRUST-OREGON #160
|
RIDER TRUST-OREGON #161
|
WALLOWA TRUST-OREGON #162
|
HARNEY TRUST-OREGON #163
|
YOUNG TRUST-OREGON #164
|
CRATER TRUST-OREGON #165
|
SUMMER TRUST-OREGON #166
|
ABERT TRUST-OREGON #167
|
ALKALI TRUST-OREGON #168
|
ADAMS TRUST-OREGON #169
|
ADRIAN TRUST-OREGON #170
|
ALVADORE TRUST-OREGON #171
|
AZALEA TRUST-OREGON #172
|
BALLSTON TRUST-OREGON #173
|
BARLOW TRUST-OREGON #174
|
BEAVER TRUST-OREGON #175
|
BECK TRUST-OREGON #176
|
BONNEVILLE TRUST-OREGON #177
|
BORING TRUST-OREGON #178
|
BRICKERVILLE TRUST-OREGON #179
|
BRIDGE TRUST-OREGON #180
|
BRIGHTWOOD TRUST-OREGON #181
|
OPHELIA TRUST-OREGON #182
|
BUXTON TRUST-OREGON #183
|
CARVER TRUST-OREGON #184
|
ASTORIA TRUST-OREGON #185
|
PRINEVILLE TRUST-OREGON #186
|
ROSEBURG TRUST-OREGON #187
|
LAKEVIEW TRUST-OREGON #188
|
VALE TRUST-OREGON #189
|
HEPPNER TRUST-OREGON #190
|
MORO TRUST-OREGON #191
|
TILLAMOOK TRUST-OREGON #192
|
IDANHA TRUST-OREGON #193
|
IDAVILLE TRUST-OREGON #194
|
IMBLER TRUST-OREGON #195
|
INDEPENDENCE TRUST-OREGON #196
|
INTERLACHEN TRUST-OREGON #197
|
IONE TRUST-OREGON #198
|
IRRIGON TRUST-OREGON #199
|
IRVING TRUST-OREGON #200
|
OAKLAND TRUST-OREGON #201
|
OCEANSIDE TRUST-OREGON #202
|
ODELL TRUST-OREGON #203
|
OLNEY TRUST-OREGON #204
|
OPHIR TRUST-OREGON #205
|
ORENCO TRUST-OREGON #206
|
ORIENT TRUST-OREGON #207
|
OXBOW TRUST-OREGON #208
|
P. G. - DANIEL TRUST
|
P. G. - DON #3 TRUST
|
P. G. - JEAN TRUST
|
P. G. - JIM TRUST
|
P. G. - JOHNNY TRUST
|
P. G. - KAREN TRUST
|
P. G. - LINDA TRUST
|
P. G. - NICHOLAS TRUST
|
P. G. - PENNY TRUST
|
P. G. - TOM TRUST
|
P. G. - TONY TRUST
|
P.P.C. TRUST #2- GIGI
|
P.P.C. TRUST #2- TOM
|
P.P.C. TRUST #3- JAY ROBERT
|
P.P.C. TRUST #3- LINDA
|
P.P.C. TRUST #4- ANTHONY
|
P.P.C. TRUST #4- JAY ROBERT
|
P.P.C. TRUST #4- JIM
|
P.P.C. TRUST #5- ANTHONY
|
P.P.C. TRUST #5- KAREN
|
P.P.C. TRUST #6- ANTHONY
|
P.P.C. TRUST #6- DANIEL
|
P.P.C. TRUST #6- GIGI
|
P.P.C. TRUST #6- PENNY
|
P.P.C. TRUST #7- JOHN
|
P.P.C. TRUST #7- PENNY
|
R. A. TRUST NO. 25
|
R.A. G.C. TRUST #1
|
R.A. G.C. TRUST #2
|
R.A. G.C. TRUST #3
|
R.A. G.C. TRUST #4
|
R.A. G.C. TRUST #5
|
R.A. G.C. TRUST #6
|
R.A. G.C. TRUST #7
|
R.A. G.C. TRUST #8
|
R.A. G.C. TRUST #9
|
R.A. G.C. TRUST #10
|
RAINER TRUST-WASHINGTON # 1
|
SLIDE TRUST-WASHINGTON # 2
|
CRYSTAL TRUST-WASHINGTON # 3
|
ELLIS TRUST-WASHINGTON # 4
|
OLYMPUS TRUST-WASHINGTON # 5
|
CARRIE TRUST-WASHINGTON # 6
|
ELK TRUST-WASHINGTON # 7
|
CONSTANCE TRUST-WASHINGTON # 8
|
HENDERSON TRUST-WASHINGTON # 9
|
ANDERSON TRUST-WASHINGTON # 10
|
TWIN TRUST-WASHINGTON # 11
|
HAYSTACK TRUST-WASHINGTON # 12
|
PILCHUCK TRUST-WASHINGTON # 13
|
INDEX TRUST-WASHINGTON # 14
|
BEARHEAD TRUST-WASHINGTON # 15
|
STRAWBERRY TRUST-WASHINGTON # 16
|
SIMCOE TRUST-WASHINGTON # 17
|
CLIFTY TRUST-WASHINGTON # 18
|
CASHMERE TRUST-WASHINGTON # 19
|
CLARK TRUST-WASHINGTON # 20
|
BONANZA TRUST-WASHINGTON # 21
|
GOODE TRUST-WASHINGTON # 22
|
LOGAN TRUST-WASHINGTON # 23
|
JACK TRUST-WASHINGTON # 24
|
OKANOGAN TRUST-WASHINGTON # 25
|
COLVILLE TRUST-WASHINGTON # 26
|
KANIKSU TRUST-WASHINGTON # 27
|
UMATILLA TRUST-WASHINGTON # 28
|
PINCHOT TRUST-WASHINGTON # 29
|
GIFFORD TRUST-WASHINGTON # 30
|
LATHROP TRUST-WASHINGTON # 31
|
ROSS TRUST-WASHINGTON # 32
|
OLYMPIC TRUST-WASHINGTON # 33
|
BREMERTON TRUST-WASHINGTON # 34
|
VANCOUVER TRUST-WASHINGTON # 35
|
DARRINGTON TRUST-WASHINGTON # 36
|
KEECHELUS TRUST-WASHINGTON # 37
|
FEDERATION TRUST-WASHINGTON # 38
|
HANFORD TRUST-WASHINGTON # 39
|
PAULS TRUST-WASHINGTON # 40
|
BUTTE TRUST-WASHINGTON # 41
|
STEPTOE TRUST-WASHINGTON # 42
|
FAIRCHILD TRUST-WASHINGTON # 43
|
COULEE TRUST-WASHINGTON # 44
|
VERNON TRUST-WASHINGTON # 45
|
MCNARY TRUST-WASHINGTON # 46
|
MARYHILL TRUST-WASHINGTON # 47
|
PASTIME TRUST-WASHINGTON # 48
|
CHELAN TRUST-WASHINGTON # 49
|
MOSES TRUST-WASHINGTON # 50
|
ENTIAT TRUST-WASHINGTON # 51
|
WALLOLA TRUST-WASHINGTON # 52
|
BANKS TRUST-WASHINGTON # 53
|
RIFFE TRUST-WASHINGTON # 54
|
SACAJEWEA TRUST-WASHINGTON # 55
|
BRYAN TRUST-WASHINGTON # 56
|
NEWMAN TRUST-WASHINGTON # 57
|
ROCK TRUST-WASHINGTON # 58
|
ROOSEVELT TRUST-WASHINGTON # 59
|
SHANNON TRUST-WASHINGTON # 60
|
STEVENS TRUST-WASHINGTON # 61
|
SPECTACLE TRUST-WASHINGTON # 62
|
GALISPELL TRUST-WASHINGTON # 63
|
WEST TRUST-WASHINGTON # 64
|
MARENGO TRUST-WASHINGTON # 65
|
SPANGLE TRUST-WASHINGTON # 66
|
PACKWOOD TRUST-WASHINGTON # 67
|
MOORE TRUST-WASHINGTON # 68
|
ALMIRA TRUST-WASHINGTON # 69
|
GRANDVIEW TRUST-WASHINGTON # 70
|
MALDEN TRUST-WASHINGTON# 71
|
TEKOA TRUST-WASHINGTON # 72
|
PACK TRUST-WASHINGTON # 73
|
FAIRFIELD TRUST-WASHINGTON # 74
|
RITZVILLE TRUST-WASHINGTON # 75
|
WARDEN TRUST-WASHINGTON # 76
|
BRIDGEPORT TRUST-WASHINGTON # 77
|
QUINCY TRUST-WASHINGTON # 78
|
PENAWOWA TRUST-WASHINGTON # 79
|
ALMOTA TRUST-WASHINGTON # 80
|
QUIET TRUST-WASHINGTON # 81
|
LEMEI TRUST-WASHINGTON # 82
|
SODA TRUST-WASHINGTON # 83
|
BOISTFORD TRUST-WASHINGTON # 84
|
SNAG TRUST-WASHINGTON # 85
|
WINDY TRUST-WASHINGTON # 86
|
MICA TRUST-WASHINGTON # 87
|
GYPSY TRUST-WASHINGTON # 88
|
GLACIER TRUST-WASHINGTON # 89
|
MONTE CRISTO TRUST-WASHINGTON # 90
|
WENATCHEE TRUST-WASHINGTON # 91
|
VESPER TRUST-WASHINGTON # 92
|
GUNN TRUST-WASHINGTON # 93
|
PYRAMID TRUST-WASHINGTON # 94
|
MISSION TRUST-WASHINGTON # 95
|
SIGNAL TRUST-WASHINGTON # 96
|
UNDER TRUST-WASHINGTON # 97
|
SADDLE TRUST-WASHINGTON # 98
|
ABERCROMBIE TRUST-WASHINGTON # 99
|
HALL TRUST-WASHINGTON #100
|
MOLYBENITE TRUST-WASHINGTON #101
|
CHEWELAH TRUST-WASHINGTON #102
|
BOYER TRUST-WASHINGTON #103
|
COUGAR TRUST-WASHINGTON #104
|
REDTOP TRUST-WASHINGTON #105
|
CHIMNEY TRUST-WASHINGTON #106
|
JULY TRUST-WASHINGTON #107
|
STAR TRUST-WASHINGTON #108
|
PINNACLE TRUST-WASHINGTON #109
|
REMMEL TRUST-WASHINGTON #110
|
MILE TRUST-WASHINGTON #111
|
ZEBRA TRUST-WASHINGTON #112
|
IRON TRUST-WASHINGTON #113
|
FOOT TRUST-WASHINGTON #114
|
BELLS TRUST-WASHINGTON #115
|
BADGER TRUST-WASHINGTON #116
|
YEARLING TRUST-WASHINGTON #117
|
KING TRUST-WASHINGTON #118
|
ANT TRUST-WASHINGTON #119
|
AIX TRUST-WASHINGTON #120
|
SNOQUALMIE TRUST-WASHINGTON #121
|
TWISP TRUST-WASHINGTON #122
|
RAINY TRUST-WASHINGTON #123
|
WASHINGTON TRUST-WASHINGTON #124
|
HARTS TRUST-WASHINGTON #125
|
CASCADE TRUST-WASHINGTON #126
|
AUSTIN TRUST-WASHINGTON #127
|
STAMPEDE TRUST-WASHINGTON #128
|
SWAUK TRUST-WASHINGTON #129
|
BLEWITT TRUST-WASHINGTON #130
|
CAYUSE TRUST-WASHINGTON #131
|
BY TRUST-WASHINGTON #132
|
OVER TRUST-WASHINGTON #133
|
SATUS TRUST-WASHINGTON #134
|
COPPER TRUST-WASHINGTON #135
|
SNOWY TRUST-WASHINGTON #136
|
OZETTE TRUST-WASHINGTON #137
|
SKOKOMICH TRUST-WASHINGTON #138
|
CHEROKEE TRUST-WASHINGTON #139
|
SPOKANE TRUST-WASHINGTON #140
|
LUMMI TRUST-WASHINGTON #141
|
SHOALWATER TRUST-WASHINGTON #142
|
HOH TRUST-WASHINGTON #143
|
QUILLAYUTE TRUST-WASHINGTON #144
|
NOOKSACK TRUST-WASHINGTON #145
|
SUIATTLE TRUST-WASHINGTON #146
|
WHITE TRUST-WASHINGTON #147
|
ICICLE TRUST-WASHINGTON #148
|
KLICKITAT TRUST-WASHINGTON #149
|
WILLAPA TRUST-WASHINGTON #150
|
SNOW TRUST-WASHINGTON #151
|
DICKEY TRUST-WASHINGTON #152
|
TOUTLE TRUST-WASHINGTON #153
|
SALMON TRUST-WASHINGTON #154
|
YELLOW TRUST-WASHINGTON #155
|
CHEHALIS TRUST-WASHINGTON #156
|
WYNOOCHEE TRUST-WASHINGTON #157
|
QUIMALT TRUST-WASHINGTON #158
|
QUEETS TRUST-WASHINGTON #159
|
WIND TRUST-WASHINGTON #160
|
MARYSVILLE TRUST-WASHINGTON #161
|
LYNWOOD TRUST-WASHINGTON #162
|
EDMONDS TRUST-WASHINGTON #163
|
WINE TRUST-WASHINGTON #164
|
SEATTLE TRUST-WASHINGTON #165
|
BURIEN TRUST-WASHINGTON #166
|
TOWNSEND TRUST-WASHINGTON #167
|
FLAGLER TRUST-WASHINGTON #168
|
ANGELES TRUST-WASHINGTON #169
|
ABERDEEN TRUST-WASHINGTON #170
|
HOQUIAM TRUST-WASHINGTON #171
|
ZESTY TRUST-WASHINGTON #172
|
BELLINGHAM TRUST-WASHINGTON #173
|
BLAINE TRUST-WASHINGTON #174
|
CHUCKANUT TRUST-WASHINGTON #175
|
ANACORTES TRUST-WASHINGTON #176
|
CURRENT ADULT BENEFICIARIES
|
|
Nicholas J. Pritzker
|
Thomas J. Pritzker
|
James N. Pritzker
|
John A. Pritzker
|
Linda Pritzker
|
Karen L. Pritzker
|
Penny Pritzker
|
Daniel F. Pritzker
|
Anthony N. Pritzker
|
Gigi Pritzker Pucker
|
Jay Robert Pritzker
|
Trustees
:
|
|
Thomas J. Pritzker
|
The Pritzker Organization, LLC
|
71 S. Wacker Drive, Suite 4700
|
Chicago, IL 60606
|
(312) 873-4900 (Telephone)
|
(312) 873-4983 (Facsimile)
|
|
Mr. Karl J. Breyer
|
4535 IDS Center
|
80 S. 8th Street
|
Minneapolis, MN 55402
|
(612) 851-2085 (Telephone)
|
(612) 851-2086 (Facsimile)
|
|
Mr. Marshall E. Eisenberg
|
Neal Gerber & Eisenberg LLP
|
Two North LaSalle St.
|
Suite 2200
|
Chicago, IL 60602
|
(312) 269-8020 (Telephone)
|
(312) 269-0260 (Facsimile)
|
Adult Beneficiaries
:
|
|
Mr. Adam Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Ms. Allison Pritzker Schwartz
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Mr. Anthony N. Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
|
Mr. Benjamin T. Pritzker
|
c/o Mr. Joel S. Rothman
|
Rothman Law Group
|
135 S. LaSalle Street
|
Suite 2810
|
Chicago, IL 60603
|
(312) 578-0900 (Telephone)
|
(312) 578-0905 (Facsimile)
|
Ms. Dana Jean Pritzker Schwartz
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Mr. Daniel F. Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
|
and
|
|
Mr. Daniel F. Pritzker
|
c/o Timmons Advisors, LLC
|
3555 Timmons Lane
|
Suite 800
|
Houston, TX 77027
|
(713) 961-1600 (Telephone)
|
(713) 623-2317 (Facsimile)
|
|
Mr. David T. Pritzker
|
c/o Mr. Joel S. Rothman
|
Rothman Law Group
|
135 S. LaSalle Street
|
Suite 2810
|
Chicago, IL 60603
|
(312) 578-0900 (Telephone)
|
(312) 578-0905 (Facsimile)
|
Mr. Donald P. Traubert
|
c/o Mr. J. Kevin Poorman
|
Pritzker Realty Group LP
|
71 S. Wacker Drive
|
47
th
Floor
|
Chicago, IL 60606
|
(312) 873-4802 (Telephone)
|
(312) 873-4891 (Facsimile)
|
|
Ms. Gigi Pritzker Pucker
|
c/o Ms. Karen MacKay
|
Burke Warren MacKay & Serritella PC
|
330 N. Wabash Avenue
|
22
nd
Floor
|
Chicago, IL 60611-3607
|
(312) 840-7009 (Telephone)
|
(312) 840-7900 (Facsimile)
|
|
Mr. Isaac Pritzker
|
c/o Mr. Thomas Dykstra
|
N Pritzker Capital Management, LLC
|
10 S. Wacker Dr.
|
Suite 1860
|
Chicago, IL 60606
|
(312) 896-1717 (Telephone)
|
(312) 896-1720 (Facsimile)
|
|
Mr. Jacob N. Pritzker
|
c/o Mr. Thomas Dykstra
|
N Pritzker Capital Management, LLC
|
10 S. Wacker Dr.
|
Suite 1860
|
Chicago, IL 60606
|
(312) 896-1717 (Telephone)
|
(312) 896-1720 (Facsimile)
|
Mr. James N. Pritzker
|
c/o Mr. Charles E. Dobrusin
|
Charles E. Dobrusin & Associates, Ltd.
|
104 S. Michigan Avenue
|
Suite 900
|
Chicago, IL 60603-5906
|
(312) 436-1202 (Telephone)
|
(312) 436-1201 (Facsimile)
|
|
and
|
|
Mr. James N. Pritzker
|
c/o Mr. Harry B. Rosenberg
|
Reed Smith Sachnoff & Weaver
|
10 South Wacker Drive
|
40
th
Floor
|
Chicago, IL 60606-7507
|
(312) 207-1000 (Telephone)
|
(312) 207-6400 (Facsimile)
|
|
Mr. Jason N. Pritzker
|
c/o Mr. Joel S. Rothman
|
Rothman Law Group
|
135 S. LaSalle Street
|
Suite 2810
|
Chicago, IL 60603
|
(312) 578-0900 (Telephone)
|
(312) 578-0905 (Facsimile)
|
|
Mr. Jay Robert Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
Mr. John A. Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
|
Mr. Joseph B. Pritzker
|
c/o Mr. Thomas Dykstra
|
N Pritzker Capital Management, LLC
|
10 S. Wacker Dr.
|
Suite 1860
|
Chicago, IL 60606
|
(312) 896-1717 (Telephone)
|
(312) 896-1720 (Facsimile)
|
|
Ms. Karen L. Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
|
Ms. Linda Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
|
Ms. Nancy Marie Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
Mr. Nicholas J. Pritzker
|
c/o Mr. Marshall Eisenberg
|
Neal Gerber & Eisenberg LLP
|
Two North LaSalle St.
|
Suite 2200
|
Chicago, IL 60602
|
(312) 269-8020 (Telephone)
|
(312) 269-0260 (Facsimile)
|
|
Mr. Noah Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Ms. Penny Pritzker
|
c/o Mr. J. Kevin Poorman
|
Pritzker Realty Group LP
|
71 S. Wacker Drive
|
47
th
Floor
|
Chicago, IL 60606
|
(312) 873-4802 (Telephone)
|
(312) 873-4891 (Facsimile)
|
|
Ms. Rachel Pritzker Hunter
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
Ms. Regan Pritzker
|
c/o Mr. Thomas Dykstra
|
N Pritzker Capital Management, LLC
|
10 S. Wacker Dr.
|
Suite 1860
|
Chicago, IL 60606
|
(312) 896-1717 (Telephone)
|
(312) 896-1720 (Facsimile)
|
|
Mr. Roland Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Ms. Rosemary Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Ms. Tal Hava Pritzker
|
c/o Mr. Charles E. Dobrusin
|
Charles E. Dobrusin & Associates, Ltd.
|
104 S. Michigan Avenue
|
Suite 900
|
Chicago, IL 60603-5906
|
(312) 436-1202 (Telephone)
|
(312) 436-1201 (Facsimile)
|
Mr. Thomas J. Pritzker
|
c/o Mr. Marshall Eisenberg
|
Neal Gerber & Eisenberg LLP
|
Two North LaSalle St.
|
Suite 2200
|
Chicago, IL 60602
|
(312) 269-8020 (Telephone)
|
(312) 269-0260 (Facsimile)
|
|
Mr. Zachary Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Nicholas J. Pritzker
|
Nicholas J. Pritzker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John Kevin Poorman
|
John Kevin Poorman, Trustee
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Edward W. Rabin
|
Edward W. Rabin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Edward W. Rabin
|
Edward W. Rabin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Edward W. Rabin
|
Edward W. Rabin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Edward W. Rabin
|
Edward W. Rabin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Edward W. Rabin
|
Edward W. Rabin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Edward W. Rabin
|
Edward W. Rabin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Edward W. Rabin
|
Edward W. Rabin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Edward W. Rabin
|
Edward W. Rabin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Edward W. Rabin
|
Edward W. Rabin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Edward W. Rabin
|
Edward W. Rabin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Edward W. Rabin
|
Edward W. Rabin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Charles E. Dobrusin
|
Charles E. Dobrusin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Charles E. Dobrusin
|
Charles E. Dobrusin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Charles E. Dobrusin
|
Charles E. Dobrusin
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Harry B. Rosenberg
|
Harry B. Rosenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Harry B. Rosenberg
|
Harry B. Rosenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Harry B. Rosenberg
|
Harry B. Rosenberg
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Jane E. Feerer
|
Jane E. Feerer
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Walter W. Simmers
|
Walter W. Simmers
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Jane E. Feerer
|
Jane E. Feerer
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Aaron Stern
|
Aaron Stern
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by G14M2 HHC of Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by T11M2 HHC of Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
/s/ Abigail Pritzker Pucker
|
Abigail Pritzker Pucker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Lawrence I. Richman
|
Lawrence I. Richman
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ Nicholas J. Pritzker
|
Nicholas J. Pritzker
|
/s/ Andrew A. N, Pri zker
|
Andrew A. N, Pritzker
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by GHHC of Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by THHC of Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Recipient Trusts of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Recipient Trusts of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
/s/ Lewis M. Linn
|
Lewis M. Linn
|
/s/ Rose Pritzker Traubert
|
Rose Pritzker Traubert
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Recipient Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Recipient Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by the Recipient Trust of shares of Hyatt Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with the receipt by Paratrooper of Common Stock, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Contemporaneously with her appointment as trustee of the Recipient Trusts, joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller,
|
John A. Miller,
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder in the form hereof.
|
/s/ John A. Miller
|
John A. Miller
|
1.
|
Acknowledges receipt and review of the A/R Global Hyatt Agreement;
|
2.
|
Joins in and agrees to be bound by the terms and conditions of the A/R Global Hyatt Agreement; and
|
3.
|
Agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation, Class A Common Stock and Class B Common Stock, to any Pritzker or Foreign Pritzker (or other successor that the A/R Global Hyatt Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee(s) thereof) signs and delivers to the parties to the A/R Global Hyatt Agreement a written Joinder Agreement in the form hereof.
|
Horton Trust Company, LLC, solely as trustee of the Recipient Trusts
|
By: /s/ John Kevin Poorman
|
Name: John Kevin Poorman
|
Title: President
|
P19M2 Investors, L.L.C.
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President
|
/s/ Lawrence Richman
|
Lawrence Richman, not individually but solely as trustee of each of the separate and distinct trusts set forth on
Schedule A
|
Name of Trust / Assignor
|
|
Certificate Number
|
|
Number of Shares
|
|
Date of Trust
|
N.F.P. QSST TRUST NO. 21
|
|
619
|
|
2,960.000
|
|
04-18-1972
|
R.A. TRUST #25
|
|
618
|
|
192,777.000
|
|
12-30-1964
|
CHILOQUIN TRUST -
OREGON TRUST #41
|
|
620
|
|
6,219.000
|
|
02-01-1980
|
COBURG TRUST -
OREGON TRUST #42
|
|
621
|
|
6,219.000
|
|
02-01-1980
|
CONDON TRUST -
OREGON TRUST #43
|
|
622
|
|
6,219.000
|
|
02-01-1980
|
DAYTON TRUST -
OREGON TRUST #44
|
|
623
|
|
6,219.000
|
|
02-01-1980
|
DILLARD TRUST -
OREGON TRUST #45
|
|
624
|
|
6,219.000
|
|
02-01-1980
|
DUNDEE TRUST -
OREGON TRUST #46
|
|
625
|
|
6,219.000
|
|
02-01-1980
|
DUNES TRUST -
OREGON TRUST #47
|
|
626
|
|
6,218.000
|
|
02-01-1980
|
ELMIRA TRUST -
OREGON TRUST #48
|
|
627
|
|
6,218.000
|
|
02-01-1980
|
OAKLAND TRUST -
OREGON TRUST #201
|
|
631
|
|
6,219.000
|
|
02-01-1980
|
OCEANSIDE TRUST -
OREGON TRUST #202
|
|
632
|
|
6,219.000
|
|
02-01-1980
|
ODELL TRUST -
OREGON TRUST #203
|
|
633
|
|
6,219.000
|
|
02-01-1980
|
OLNEY TRUST -
OREGON TRUST #204
|
|
634
|
|
6,219.000
|
|
02-01-1980
|
OPHIR TRUST -
OREGON TRUST #205
|
|
635
|
|
6,219.000
|
|
02-01-1980
|
ORENCO TRUST -
OREGON TRUST #206
|
|
636
|
|
6,219.000
|
|
02-01-1980
|
ORIENT TRUST -
OREGON TRUST #207
|
|
637
|
|
6,218.000
|
|
02-01-1980
|
OXBOW TRUST -
OREGON TRUST #208
|
|
638
|
|
6,218.000
|
|
02-01-1980
|
/s/ Lewis Linn
|
Lewis Linn, not individually but solely as co-trustee of each of the separate and distinct trusts set forth on
Schedule A
|
/s/ Aaron Stern
|
Aaron Stern, not individually but solely as co-trustee of each of the separate and distinct trusts set forth on
Schedule A
|
Name of Trust / Assignor
|
|
Certificate Number
|
|
Number of Shares
|
|
Date of Trust
|
BURLINGTON TRUST - OREGON
TRUST #103
|
|
628
|
|
3,779.000
|
|
02-01-1980
|
CARVER TRUST - OREGON TRUST #184
|
|
629
|
|
5,146.000
|
|
02-01-1980
|
SIGNAL TRUST - WASHINGTON TRUST #96
|
|
639
|
|
4,038.000
|
|
02-01-1980
|
MILE TRUST - WASHINGTON TRUST #111
|
|
640
|
|
3,592.000
|
|
02-01-1980
|
SALMON TRUST - WASHINGTON TRUST #154
|
|
641
|
|
1,544.000
|
|
02-01-1980
|
YELLOW TRUST - WASHINGTON TRUST #155
|
|
642
|
|
1,544.000
|
|
02-01-1980
|
CHEHALIS TRUST - WASHINGTON TRUST #156
|
|
643
|
|
1,544.000
|
|
02-01-1980
|
WYNOOCHEE TRUST - WASHINGTON TRUST #157
|
|
644
|
|
1,544.000
|
|
02-01-1980
|
QUIMALT TRUST - WASHINGTON TRUST #158
|
|
645
|
|
1,544.000
|
|
02-01-1980
|
QUEETS TRUST - WASHINGTON TRUST #159
|
|
646
|
|
1,544.000
|
|
02-01-1980
|
WIND TRUST - WASHINGTON TRUST #160
|
|
647
|
|
1,561.000
|
|
02-01-1980
|
ABERDEEN TRUST - WASHINGTON TRUST #170
|
|
648
|
|
1,561.000
|
|
02-01-1980
|
HOQUIAM TRUST - WASHINGTON TRUST #171
|
|
649
|
|
1,561.000
|
|
02-01-1980
|
ZESTY TRUST - WASHINGTON TRUST #172
|
|
650
|
|
1,561.000
|
|
02-01-1980
|
BELLINGHAM TRUST - WASHINGTON TRUST #173
|
|
651
|
|
1,561.000
|
|
02-01-1980
|
BLAINE TRUST - WASHINGTON TRUST #174
|
|
652
|
|
1,561.000
|
|
02-01-1980
|
CHUCKANUT TRUST - WASHINGTON TRUST #175
|
|
653
|
|
1,561.000
|
|
02-01-1980
|
ANACORTES TRUST - WASHINGTON TRUST #176
|
|
654
|
|
1,561.000
|
|
02-01-1980
|
/s/ Charles Dobrusin
|
Charles Dobrusin, not individually but solely as co-trustee of each of the separate and distinct trusts set forth on
Schedule A
|
/s/ Harry Rosenberg
|
Harry Rosenberg, not individually but solely as co-trustee of each of the separate and distinct trusts set forth on
Schedule A
|
Name of Trust / Assignor
|
|
Certificate Number
|
|
Number of Shares
|
|
Date of Trust
|
LASALLE TRUST #50
|
|
616
|
|
6,750.000
|
|
03-15-1966
|
LASALLE TRUST #55
|
|
617
|
|
6,751.000
|
|
03-15-1966
|
LASALLE G.C. TRUST #6
|
|
659
|
|
155,507.000
|
|
01-03-1991
|
DON G.C. TRUST #5
|
|
655
|
|
58,254.000
|
|
01-03-1991
|
R.A. G.C. TRUST #5
|
|
656
|
|
43,639.000
|
|
01-03-1991
|
A.N.P. TRUST #22 - JAMES
|
|
660
|
|
301,200.000
|
|
01-01-1989
|
A.N.P. TRUST #24 - JAMES
|
|
661
|
|
305,494.000
|
|
01-01-1989
|
A.N.P. TRUST #28 - JAMES
|
|
662
|
|
305,495.000
|
|
01-01-1989
|
A.N.P. TRUST #30 - JAMES
|
|
663
|
|
305,407.000
|
|
01-01-1989
|
/s/ Lewis Linn
|
Lewis Linn, not individually but solely as trustee of each of the separate and distinct trusts set forth on
Schedule A
|
Name of Trust / Assignor
|
|
Certificate Number
|
|
Number of Shares
|
|
Date of Trust
|
LASALLE G.C. TRUST #3
|
|
658
|
|
64,941.000
|
|
01-02-1993
|
/s/ Nicholas J. Pritzker
|
Nicholas J. Pritzker, Trustee
|
By: TGFJ GP LLC, its General Partner
|
|
|
|
By:
|
/s/ Lewis M. Linn
|
Name:
|
Lewis M. Linn
|
Title:
|
Manager
|
By: 8-26-22 GP LLC, its General Partner
|
|
|
|
By:
|
/s/ Lewis M. Linn
|
Name:
|
Lewis M. Linn
|
Title:
|
Manager
|
By: Julytoon Investments GP LLC, its General Partner
|
|
|
|
By:
|
/s/ Lewis M. Linn
|
Name:
|
Lewis M. Linn
|
Title:
|
Manager
|
LCI H COMPANY LP
:
|
|
|
|
By: Julytoon Investments GP LLC, its General Partner
|
|
|
|
By:
|
/s/ Lewis M. Linn
|
Name:
|
Lewis M. Linn
|
Title:
|
Manager
|
By: 8-26-22 GP LLC, its General Partner
|
|
|
|
By:
|
/s/ Lewis M. Linn
|
Name:
|
Lewis M. Linn
|
Title:
|
Manager
|
FLP11 HHC, L.L.C.
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President
|
FLP14 HHC, L.L.C.
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President
|
By: Julytoon Investments GP LLC, its General Partner
|
|
|
|
By:
|
/s/ Lewis M. Linn
|
Name:
|
Lewis M. Linn
|
Title:
|
Manager
|
|
|
By:
|
/s/ Ronald D. Wray
|
Name:
|
Ronald D. Wray
|
Title:
|
Vice President
|
T11M5 Investors, L.L.C.
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg, not individually but solely as trustee of each of the separate and distinct trusts set forth on
Schedule A
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President
|
By: /s/ John Kevin Poorman
|
Name: John Kevin Poorman
|
Title: President
|
1740 #40FD-D
|
1740 #40FD-R
|
1740 #34FD2
|
T-551-10FD2
|
/s/ Thomas J. Pritzker
|
Thomas J. Pritzker, not individually but solely as co-trustee of TJP Revocable Trust
|
/s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg, not individually but solely as co-trustee of TJP Revocable Trust
|
Title:
|
Chief Operating Officer of Horton Trust Company LLC
|
ADULT BENEFICIARIES:
|
/s/ Nicholas J. Pritzker
|
Nicholas J. Pritzker
|
/s/ Thomas J. Pritzker
|
Thomas J. Pritzker
|
/s/ James N. Pritzker
|
James N. Pritzker
|
/s/ John A. Pritzker
|
John A. Pritzker
|
/s/ Linda Pritzker
|
Linda Pritzker
|
/s/ Karen L. Pritzker
|
Karen L. Pritzker
|
/s/ Penny Pritzker
|
Penny Pritzker
|
/s/ Anthony N. Pritzker
|
Anthony N. Pritzker
|
/s/ Gigi Pritzker Pucker
|
Gigi Pritzker Pucker
|
/s/ Jay Robert Pritzker
|
Jay Robert Pritzker
|
/s/ Joseph B. Pritzker
|
Joseph B. Pritzker
|
/s/ Regan Pritzker
|
Regan Pritzker
|
/s/ Rachel Pritzker Hunter
|
Rachel Pritzker Hunter
|
/s/ Roland Bacon Pritzker
|
Roland Bacon Pritzker
|
/s/ Jason N. Pritzker
|
Jason N. Pritzker
|
/s/ Benjamin T. Pritzker
|
Benjamin T. Pritzker
|
/s/ Rosemary Pritzker
|
Rosemary Pritzker
|
/s/ Tal Hava Pritzker
|
Tal Hava Pritzker
|
/s/ Jacob N. Pritzker
|
Jacob N. Pritzker
|
/s/ David T. Pritzker
|
David T. Pritzker
|
/s/ Allison Pritzker Schwartz
|
Allison Pritzker Schwartz
|
/s/ Adam Pritzker
|
Adam Pritzker
|
/s/ Isaac Pritzker
|
Isaac Pritzker
|
/s/ Noah Pritzker
|
Noah Pritzker
|
/s/ Dana Jean
|
Dana Jean Pritzker Schwartz
|
/s/ Donald Pritzker Traubert
|
Donald Pritzker Traubert
|
Settlement T-551-1
|
Settlement T-551-2
|
Settlement T-551-3
|
Settlement T-551-4
|
Settlement T-551-5
|
Settlement T-551-6
|
Settlement T-551-7
|
Settlement T-551-10
|
Settlement T-551-11
|
Settlement T-551-12
|
Settlement 1740 Trust #14
|
Settlement 1740 Trust #15
|
RP 1740 #17 Apex Trust
|
Settlement 1740 Trust #22
|
Settlement 1740 Trust #23
|
Settlement 1740 Trust #24
|
Settlement 1740 Trust #25
|
Settlement 1740 Trust #26A
|
Settlement 1740 Trust #26B
|
Settlement 1740 Trust #26C
|
Settlement 1740 Trust #26D
|
Settlement 1740 Trust #27
|
Settlement 1740 Trust #28
|
Settlement 1740 Trust #29
|
Settlement 1740 Trust #30
|
Settlement 1740 Trust #31
|
Settlement 1740 Trust #32
|
Settlement 1740 Trust #33
|
Settlement 1740 Trust #34
|
Settlement 1740 Trust #35
|
Settlement 1740 Trust #36
|
Settlement 1740 Trust #37
|
Settlement 1740 Trust #38
|
Settlement 1740 Trust #39
|
Settlement 1740 Trust #40
|
Settlement T-2043
|
Settlement T-577
|
Settlement T-2390-A
|
Settlement T-2390-B
|
Settlement T-2390-C
|
CURRENT ADULT BENEFICIARIES
|
|
Nicholas J. Pritzker
|
Thomas J. Pritzker
|
James N. Pritzker
|
John A. Pritzker
|
Linda Pritzker
|
Karen L. Pritzker
|
Penny Pritzker
|
Daniel F. Pritzker
|
Anthony N. Pritzker
|
Gigi Pritzker Pucker
|
Jay Robert Pritzker
|
Adult Beneficiaries
:
|
|
Mr. Adam Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Ms. Allison Pritzker Schwartz
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
Mr. Anthony N. Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
|
Mr. Benjamin T. Pritzker
|
c/o Mr. Joel S. Rothman
|
Rothman Law Group
|
135 S. LaSalle Street
|
Suite 2810
|
Chicago, IL 60603
|
(312) 578-0900 (Telephone)
|
(312) 578-0905 (Facsimile)
|
|
Ms. Dana Jean Pritzker Schwartz
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Mr. Daniel F. Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
|
and
|
|
Mr. Daniel F. Pritzker
|
c/o Timmons Advisors, LLC
|
3555 Timmons Lane
|
Suite 800
|
Houston, TX 77027
|
(713) 961-1600 (Telephone)
|
(713) 623-2317 (Facsimile)
|
Mr. David T. Pritzker
|
c/o Mr. Joel S. Rothman
|
Rothman Law Group
|
135 S. LaSalle Street
|
Suite 2810
|
Chicago, IL 60603
|
(312) 578-0900 (Telephone)
|
(312) 578-0905 (Facsimile)
|
|
Mr. Donald P. Traubert
|
c/o Mr. J. Kevin Poorman
|
Pritzker Realty Group LP
|
71 S. Wacker Drive
|
47th Floor
|
Chicago, IL 60606
|
(312) 873-4802 (Telephone)
|
(312) 873-4891 (Facsimile)
|
|
Ms. Gigi Pritzker Pucker
|
c/o Ms. Karen MacKay
|
Burke Warren MacKay & Serritella PC
|
330 N. Wabash Avenue
|
22nd Floor
|
Chicago, IL 60611-3607
|
(312) 840-7009 (Telephone)
|
(312) 840-7900 (Facsimile)
|
|
Mr. Isaac Pritzker
|
c/o Mr. Thomas Dykstra
|
N Pritzker Capital Management, LLC
|
10 S. Wacker Dr.
|
Suite 1860
|
Chicago, IL 60606
|
(312) 896-1717 (Telephone)
|
(312) 896-1720 (Facsimile)
|
|
Mr. Jacob N. Pritzker
|
c/o Mr. Thomas Dykstra
|
N Pritzker Capital Management, LLC
|
10 S. Wacker Dr.
|
Suite 1860
|
Chicago, IL 60606
|
(312) 896-1717 (Telephone)
|
(312) 896-1720 (Facsimile)
|
Mr. James N. Pritzker
|
c/o Mr. Charles E. Dobrusin
|
Charles E. Dobrusin & Associates, Ltd.
|
104 S. Michigan Avenue
|
Suite 900
|
Chicago, IL 60603-5906
|
(312) 436-1202 (Telephone)
|
(312) 436-1201 (Facsimile)
|
|
and
|
|
Mr. James N. Pritzker
|
c/o Mr. Harry B. Rosenberg
|
Reed Smith Sachnoff & Weaver
|
10 South Wacker Drive
|
40th Floor
|
Chicago, IL 60606-7507
|
(312) 207-1000 (Telephone)
|
(312) 207-6400 (Facsimile)
|
|
Mr. Jason N. Pritzker
|
c/o Mr. Joel S. Rothman
|
Rothman Law Group
|
135 S. LaSalle Street
|
Suite 2810
|
Chicago, IL 60603
|
(312) 578-0900 (Telephone)
|
(312) 578-0905 (Facsimile)
|
|
Mr. Jay Robert Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
Mr. John A. Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
|
Mr. Joseph B. Pritzker
|
c/o Mr. Thomas Dykstra
|
N Pritzker Capital Management, LLC
|
10 S. Wacker Dr.
|
Suite 1860
|
Chicago, IL 60606
|
(312) 896-1717 (Telephone)
|
(312) 896-1720 (Facsimile)
|
|
Ms. Karen L. Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
|
Ms. Linda Pritzker
|
c/o Mr. Ivan Deutsch
|
Sullivan & Cromwell LLP
|
125 Broad Street
|
New York, NY 10004
|
(212) 558-3750 (Telephone)
|
(212) 558-3588 (Facsimile)
|
|
Ms. Nancy Marie Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
Mr. Nicholas J. Pritzker
|
c/o Mr. Marshall Eisenberg
|
Neal Gerber & Eisenberg LLP
|
Two North LaSalle St.
|
Suite 2200
|
Chicago, IL 60602
|
(312) 269-8020 (Telephone)
|
(312) 269-0260 (Facsimile)
|
|
Mr. Noah Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Ms. Penny Pritzker
|
c/o Mr. J. Kevin Poorman
|
Pritzker Realty Group LP
|
71 S. Wacker Drive
|
47th Floor
|
Chicago, IL 60606
|
(312) 873-4802 (Telephone)
|
(312) 873-4891 (Facsimile)
|
|
Ms. Rachel Pritzker Hunter
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Ms. Regan Pritzker
|
c/o Mr. Thomas Dykstra
|
N Pritzker Capital Management, LLC
|
10 S. Wacker Dr.
|
Suite 1860
|
Chicago, IL 60606
|
(312) 896-1717 (Telephone)
|
(312) 896-1720 (Facsimile)
|
Mr. Roland Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Ms. Rosemary Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
|
Ms. Tal Hava Pritzker
|
c/o Mr. Charles E. Dobrusin
|
Charles E. Dobrusin & Associates, Ltd.
|
104 S. Michigan Avenue
|
Suite 900
|
Chicago, IL 60603-5906
|
(312) 436-1202 (Telephone)
|
(312) 436-1201 (Facsimile)
|
|
Mr. Thomas J. Pritzker
|
c/o Mr. Marshall Eisenberg
|
Neal Gerber & Eisenberg LLP
|
Two North LaSalle St.
|
Suite 2200
|
Chicago, IL 60602
|
(312) 269-8020 (Telephone)
|
(312) 269-0260 (Facsimile)
|
|
Mr. Zachary Pritzker
|
c/o Mr. Eric D. Brandfonbrener
|
Perkins Coie, LLP
|
131 S. Dearborn St.
|
Suite 1700
|
Chicago, IL 60603
|
(312) 324-8602 (Telephone)
|
(312) 324-9602 (Facsimile)
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of each of the separate and distinct trusts listed on
Annex A attached hereto |
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
IHE, INC., a Bahamian International Business Company |
By: /s/ Michelle Gibson
|
Name: Commerce Services Limited
|
Title: Director
|
By: /s/ Carlis E. Chisholm
|
Name: Corporate Associates Limited
|
Title: Director
|
LUXURY LODGING, INC., a Bahamian International Business Company |
By: /s/ Michelle Gibson
|
Name: Commerce Services Limited
|
Title: Director
|
By: /s/ Carlis E. Chisholm
|
Name: Corporate Associates Limited
|
Title: Director
|
HOSPITALITY HOTELS, INC., a Bahamian International Business Company |
By: /s/ Michelle Gibson
|
Name: Commerce Services Limited
|
Title: Director
|
By: /s/ Carlis E. Chisholm
|
Name: Corporate Associates Limited
|
Title: Director
|
WW HOTELS, INC., a Bahamian International Business Company |
By: /s/ Michelle Gibson
|
Name: Commerce Services Limited
|
Title: Director
|
By: /s/ Carlis E. Chisholm
|
Name: Corporate Associates Limited
|
Title: Director
|
Settlement 1740 Trust #14
|
Settlement 1740 Trust #15
|
RP 1740 #17 Apex Trust
|
Settlement 1740 Trust #22
|
Settlement 1740 Trust #23
|
Settlement 1740 Trust #24
|
Settlement 1740 Trust #25
|
Settlement 1740 Trust #26A
|
Settlement 1740 Trust #26B
|
Settlement 1740 Trust #26C
|
Settlement 1740 Trust #26D
|
Settlement 1740 Trust #27
|
Settlement 1740 Trust #28
|
Settlement 1740 Trust #29
|
Settlement 1740 Trust #30
|
Settlement 1740 Trust #31
|
Settlement 1740 Trust #32
|
Settlement 1740 Trust #33
|
Settlement 1740 Trust #34
|
Settlement 1740 Trust #35
|
Settlement 1740 Trust #36
|
Settlement 1740 Trust #37
|
Settlement 1740 Trust #38
|
Settlement T-551-1
|
Settlement T-551-2
|
Settlement T-551-3
|
Settlement T-551-4
|
Settlement T-551-5
|
Settlement T-551-6
|
Settlement T-551-7
|
Settlement T-551-10
|
Settlement T-551-11
|
Settlement T-551-12
|
Settlement T-577
|
Settlement 1740 Trust #39
|
Settlement 1740 Trust #40
|
Settlement T-2043
|
Settlement T-2390-A
|
Settlement T-2390-B
|
Settlement T-2390-C
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Schevon Miller
|
Name: Schevon Miller
|
Title: Manager, Private Banking
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Schevon Miller
|
Name: Schevon Miller
|
Title: Manager, Private Banking
|
BOMBAY HOTEL CORPORATION
, a Cayman Islands corporation
|
By: /s/ Wendy Bush
|
Name: Commerce Advisory Services Limited
|
Title: Secretary
|
Settlement T-2390-A
|
Settlement T-2390-B
|
Settlement T-2390-C
|
CPC, INC., a Bahamian International Business Company
|
By: /s/ Schevon Miller
|
Name: Commerce Services Limited
|
Title: Director
|
By: /s/ Carlis E. Chisholm
|
Name: Corporate Associates Limited
|
Title: Director
|
Settlement T-2390-A
|
Settlement T-2390-B
|
Settlement T-2390-C
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate, solely as trustee of the Trust
|
/s/ Walter W. Simmers
|
Walter W. Simmers, solely as trustee of the Trust
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate, solely as trustee of the Trust
|
/s/ Walter W. Simmers
|
Walter W. Simmers, solely as trustee of the Trust
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate, solely as trustee of the Trust
|
/s/ Walter W. Simmers
|
Walter W. Simmers, solely as trustee of the Trust
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk, solely as trustee of the Trust
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate, solely as trustee of the Trust
|
/s/ Walter W. Simmers
|
Walter W. Simmers, solely as trustee of the Trust
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate, solely as trustee of the Trust
|
/s/ Walter W. Simmers
|
Walter W. Simmers, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Andrew D. Wingate
|
Andrew D. Wingate, solely as trustee of the Trust
|
/s/ Walter W. Simmers
|
Walter W. Simmers, solely as trustee of the Trust
|
/s/ Lucinda S. Falk
|
Lucinda S. Falk, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Thomas J. Muenster
|
Thomas J. Muenster, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
JPMORGAN TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Marsya Cates
|
Name: Marsya Cates
|
Title: Vice President
|
By: /s/ Cameron A. Carey
|
Name: Cameron A. Carey
|
Title: Associate
|
JPMORGAN TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Marsya Cates
|
Name: Marsya Cates
|
Title: Vice President
|
By: /s/ Cameron A. Carey
|
Name: Cameron A. Carey
|
Title: Associate
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Leonard J. Loventhal
|
Leonard J. Loventhal, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Leonard J. Loventhal
|
Leonard J. Loventhal, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Leonard J. Loventhal
|
Leonard J. Loventhal, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Leonard J. Loventhal
|
Leonard J. Loventhal, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Leonard J. Loventhal
|
Leonard J. Loventhal, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Leonard J. Loventhal
|
Leonard J. Loventhal, solely as trustee of the Trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Trust
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: General Manager
|
By: /s/ Michelle Gibson
|
Name: Michelle Gibson
|
Title: Trust Officer
|
/s/ Leonard J. Loventhal
|
Leonard J. Loventhal, solely as trustee of the Trust
|
G14M2 HHC, L.L.C., a Delaware limited liability company
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President, Treasurer & Secretary
|
T11M2 HHC, L.L.C., a Delaware limited liability company
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President, Treasurer & Secretary
|
/s/ Abigail Pritzker Pucker
|
Abigail Pritzker Pucker
|
Nicholas J. Pritzker, not individually but solely as co-trustee of the Trust
|
By: /s/ Nicholas J. Pritzker
|
Lawrence I. Richman, not individually but solely as co-trustee of the Trust
|
By: /s/ Lawrence I. Richman
|
/s/ Andrew A. N. Pritzker
|
Andrew A. N. Pritzker
|
GHHC, L.L.C., a Delaware limited liability company
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President, Treasurer & Secretary
|
THHC, L.L.C
.,
a Delaware limited liability company
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President, Treasurer & Secretary
|
/s/ Rose Pritzker Traubert
|
Rose Pritzker Traubert
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Recipient Trusts
|
By: /s/ Schevon Miller
|
Name: Schevon Miller
|
Title: Authorized Signatory
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: Authorized Signatory
|
1740 Trust #40-AJ
|
1740 Trust #40-AB
|
1740 Trust #40-AD
|
1740 Trust #40-Locust
|
1740 Trust #40-Francis
|
1740 Trust #40-Sangdu
|
1740 Trust #40-LaDini B
|
1740 Trust #40-Jaybird B
|
1740 Trust #40-Jon Jacob B
|
1740 Trust #40-Banana B
|
1740 Trust #40-ZAP B
|
1740 Trust #40-FDA
|
1740 Trust #40-FDM
|
1740 Trust #40-FDJ
|
1740 Trust #40-THP
|
1740 Trust #40-AANP
|
1740 Trust #40-WJGP
|
1740 Trust #40-AS
|
1740 Trust #40-DS
|
1740 Trust #40-JV
|
1740 Trust #40-TV
|
1740 Trust #40-Festus Bahamas
|
1740 Trust #40-Scorpion Nassau
|
1740 Trust #40-Vered Island
|
1740 Trust #40-37D
|
1740 Trust #40-37R
|
1740 Trust #40-Evpatoria
|
1740 Trust #40-Izyum
|
1740 Trust #40-Nikopol
|
1740 Trust #40-Alushta
|
1740 Trust #40-RAPN
|
Trust 2043-AJ
|
Trust 2043-AB
|
Trust 2043-AD
|
Trust 2043-Locust
|
Trust 2043-Francis
|
Trust 2043-Sangdu
|
Trust 2043-LaDini B
|
Trust 2043-Jaybird B
|
Trust 2043-Jon Jacob B
|
Trust 2043-Banana B
|
Trust 2043-ZAP B
|
Trust 2043-FDA
|
Trust 2043-FDM
|
Trust 2043-FDJ
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of 1740 Trust RSP
|
By: /s/ Schevon Miller
|
Name: Schevon Miller
|
Title: Authorized Signatory
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: Authorized Signatory
|
Westamerica Bank, solely as trustee of 1740 Trust RSP
|
By: /s/ Sherry Graziano
|
Name: Sherry Graziano
|
Title: VP / Trust Officer
|
/s/ Lewis M. Linn
|
Lewis M. Linn, not individually but solely as trustee of Banana Trust
|
/s/ Lewis M. Linn
|
Lewis M. Linn, not individually but solely as trustee of Jaybird Trust
|
/s/ Lewis M. Linn
|
Lewis M. Linn, not individually but solely as trustee of Jon Jacob Trust
|
/s/ Lewis M. Linn
|
Lewis M. Linn, not individually but solely as trustee of LaDini Trust
|
/s/ Lewis M. Linn
|
Lewis M. Linn, not individually but solely as trustee of ZAP Trust
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH
Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
F.L.P. Trust #19M2 is the sole member of P19M2 Investors, L.L.C., a Delaware limited liability company (the “LLC”).
|
4.
|
Contemporaneously with the receipt by the LLC of shares of Hyatt Common Stock, the LLC hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The LLC further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
5.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
6.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
P19M2 Investors, L.L.C., a Delaware limited liability company
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “Foreign GH Agreement”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
F.L.P. Trust #11M5 is the sole member of T11M5 Investors, L.L.C., a Delaware limited liability company (the “LLC”).
|
4.
|
Contemporaneously with the receipt by the LLC of shares of Hyatt Common Stock, the LLC hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The LLC further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
5.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
6.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
T11M5 Investors, L.L.C., a Delaware limited liability company
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “Foreign GH Agreement”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
F.L.P. Trust #11M2 is the sole member of T11M2 Investors, L.L.C., a Delaware limited liability company (the “LLC”).
|
4.
|
Contemporaneously with the receipt by the LLC of shares of Hyatt Common Stock, the LLC hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The LLC further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
5.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
6.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
T11M2 Investors, L.L.C., a Delaware limited liability company
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “Foreign GH Agreement”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
Nicholas J. Pritzker is Trustee (the “Trustee”) of the NJP 2012 Annuity Trust (the “Recipient Trust”).
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with the receipt by the Recipient Trust of the shares of Hyatt Common Stock, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or
|
Nicholas J. Pritzker, not individually, but solely as
Trustee of the NJP 2012 Annuity Trust |
/s/ Nicholas J. Pritzker
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
F.L.P. Trust #19M2 is the sole member of P19M2 Investors II, L.L.C., a Delaware limited liability company (the “
LLC
”).
|
4.
|
Contemporaneously with the receipt by the LLC of shares of Hyatt Common Stock, the LLC hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The LLC further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
5.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
6.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
P19M2 Investors II, L.L.C., a Delaware limited liability company
|
By: /s/ Ronald D. Wray
|
Name: Ronald D. Wray
|
Title: Vice President
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
CIBC Trust Company (Bahamas) Limited is Trustee (the “
Trustee
”) of the trusts set forth on
Schedule A
hereto (the “
Recipient Trusts
”).
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with the receipt by the Recipient Trusts of the shares of Hyatt Common Stock, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly waived by the parties by their execution hereof. Any liability of a trust hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof and any recourse against a trustee shall be solely against the assets of the pertinent trust
|
CIBC TRUST COMPANY (BAHAMAS) LIMITED, solely as trustee of the Recipient Trusts
|
By: /s/ Helen M. Carroll
|
Name: Helen M. Carroll
|
Title: Authorized Signatory
|
By: /s/ Carlis E. Chisholm
|
Name: Carlis E. Chisholm
|
Title: Authorized Signatory
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
Horton Trust Company LLC is Trustee (the “
Trustee
”) of the trusts set forth on
Schedule A
hereto (the “
Recipient Trusts
”).
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with the receipt by the Trustee as trustee of the Recipient Trusts of the shares of Hyatt Common Stock, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly
|
Horton Trust Company LLC, not individually but solely as trustee of each of the separate and distinct trusts set forth on Schedule A
|
By: /s/ John Kevin Poorman
|
Name: John Kevin Poorman
|
Title: President
|
1740 #40FD-D
|
1740 #40FD-R
|
1740 #34FD2
|
T-551-10FD2
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
Thomas J. Pritzker and Marshall E. Eisenberg are Co-Trustees (the “
Co-Trustees
”) of TJP Revocable Trust (the “
Recipient Trust
”).
|
4.
|
The Co-Trustees acknowledge (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with the receipt by the Recipient Trust of the shares of Hyatt Common Stock, the Co-Trustees hereby join in and agree to be bound by the terms and conditions of the Foreign GH Agreement. The Co-Trustees further agree not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly
|
By: /s/ Thomas J. Pritzker
|
Thomas J. Pritzker, not individually but solely as co-trustee of TJP Revocable Trust
|
By: /s/ Marshall E. Eisenberg
|
Marshall E. Eisenberg, not individually but solely as co-trustee of TJP Revocable Trust
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
CIBC Trust Company (Bahamas) Limited is Trustee (the “
Trustee
”) of the trusts set forth on
Schedule A
hereto (the “
Recipient Trusts
”).
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with the receipt by the Recipient Trusts of the shares of Hyatt Common Stock, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof..
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly waived by the parties by their execution hereof. Any liability of a trust hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof and any recourse against a trustee shall be solely against the assets of the pertinent trust
|
Trust 551-E
|
Trust 1740-E
|
Trust 1740-F
|
Trust 1740-G
|
Trust 1740-H
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
Penny Pritzker is Trustee (the “
Trustee
”) of the Penny Pritzker Revocable Trust (the “
Recipient Trust
”).
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with the receipt by the Recipient Trust of the shares of Hyatt Common Stock, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly waived by the parties by their execution hereof. Any liability of a trust hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof and any recourse against a trustee shall be solely against the assets of the pertinent trust.
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
CIBC Trust Company (Bahamas) Limited is Trustee (the “
Trustee
”) of the trusts set forth on
Schedule A
hereto (the “
Recipient Trusts
”).
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with the receipt by the Recipient Trusts of the shares of Hyatt Common Stock, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly waived by the parties by their execution hereof. Any liability of a trust hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof and any recourse against a trustee shall be solely against the assets of the pertinent trust
|
Trust 551-A
|
Trust 1740-A
|
Trust 1740-B
|
Trust 1740-C
|
Trust 1740-D
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
Maroon Private Trust Company, LLC has been appointed and has consented to serve as trustee (the “
Trustee
”) of F.L.P. Trust #11, the controlling member of THHC, L.L.C.
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with becoming the trustee of F.L.P. Trust #11, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly waived by the parties by their execution hereof. Any liability of a trust hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof and any recourse against a trustee shall be solely against the assets of the pertinent trust.
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
Thomas J. Pritzker is the Trustee (the “
Trustee
”) of Maroon Trust, the member of Maroon Private Trust Company, LLC. Maroon Private Trust Company, LLC has been appointed and has consented to serve as the trustee of F.L.P. Trust #11, the controlling member of THHC, L.L.C.
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with Maroon Private Trust Company, LLC becoming the trustee of F.L.P. Trust #11, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees, to the extent applicable, not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly waived by the parties by their execution hereof. Any liability of a trust hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof and any recourse against a trustee shall be solely against the assets of the pertinent trust.
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
UDQ Private Trust Company, LLC has been appointed and has consented to serve as trustee (the “
Trustee
”) of F.L.P. Trust #14, the controlling member of GHHC, L.L.C.
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with becoming the trustee of F.L.P. Trust #14, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly waived by the parties by their execution hereof. Any liability of a trust hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof and any recourse against a trustee shall be solely against the assets of the pertinent trust.
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
Gigi Pritzker Pucker is the Trustee (the “
Trustee
”) of UDQ Trust, the member of UDQ Private Trust Company, LLC. UDQ Private Trust Company, LLC has been appointed and has consented to serve as the trustee of F.L.P. Trust #14, the controlling member of GHHC, L.L.C.
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with UDQ Private Trust Company, LLC becoming the trustee of F.L.P. Trust #14, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees, to the extent applicable, not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly waived by the parties by their execution hereof. Any liability of a trust hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof and any recourse against a trustee shall be solely against the assets of the pertinent trust.
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
Anthony Pritzker Family Foundation, an Illinois not-for-profit corporation (“
APFF
”) will be receiving shares of Hyatt Common Stock.
|
4.
|
In connection with the receipt by APFF of shares of Hyatt Common Stock, APFF hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. APFF further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
5.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
6.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
The Pritzker Family Foundation, an Illinois not-for-profit corporation (“
PFF
”) will be receiving shares of Hyatt Common Stock.
|
4.
|
In connection with the receipt by PFF of shares of Hyatt Common Stock, PFF hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. PFF further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof.
|
5.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
6.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
CIBC Trust Company (Bahamas) Limited is Trustee (the “
Trustee
”) of the trusts set forth on
Schedule A
hereto (the “
Recipient Trusts
”).
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with the receipt by the Recipient Trusts of the shares of Hyatt Common Stock, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof..
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
|
When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly waived by the parties by their execution hereof. Any liability of a trust hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof and any recourse against a trustee shall be solely against the assets of the pertinent trust
|
Trust 2015-GHC1
|
Trust 2015-GHC2
|
Trust A-2015F
|
Trust M-2015G
|
Trust J-2015H
|
1.
|
Reference is made to the Amended and Restated Foreign Global Hyatt Agreement, dated as of October 1, 2009, by and among each of the Adult Beneficiaries from time to time signatories thereto (as amended from time to time, the “
Foreign GH Agreement
”).
|
2.
|
Capitalized terms used but not otherwise defined herein have the meaning ascribed to them in the Foreign GH Agreement.
|
3.
|
CIBC Trust Company (Bahamas) Limited is Trustee (the “
Trustee
”) of the trusts set forth on
Schedule A
hereto (the “
Recipient Trusts
”).
|
4.
|
The Trustee acknowledges (a) receipt and review of the Foreign GH Agreement, and (b) the terms of the Foreign GH Agreement.
|
5.
|
Contemporaneously with the receipt by the Recipient Trusts of the shares of Hyatt Common Stock, the Trustee hereby joins in and agrees to be bound by the terms and conditions of the Foreign GH Agreement. The Trustee further agrees not to distribute, transfer or otherwise dispose of any shares of Hyatt Common Stock, including without limitation Class A Common Stock and Class B Common Stock, to any Pritzker or Domestic Pritzker (or other successor that the Foreign GH Agreement provides is to be bound by any provision thereof) unless such distributee or transferee (including, if the distributee or transferee is a trust, such trust and the trustee thereof) signs and delivers to the parties to the Foreign GH Agreement a written Acknowledgement and Joinder in the form hereof..
|
6.
|
This Acknowledgement and Joinder is solely for the benefit of all parties to the Foreign GH Agreement from and after the date hereof, and no other Persons shall be third party beneficiaries hereof.
|
7.
|
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF THE BAHAMAS WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
|
8.
|
This Acknowledgement and Joinder may be executed in one or more counterparts, each of which shall be deemed to constitute an original and all of which together shall constitute one document.
|
9.
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When this Acknowledgement and Joinder is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Acknowledgement and Joinder shall be construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such personal liability, if any, having been expressly waived by the parties by their execution hereof. Any liability of a trust hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof and any recourse against a trustee shall be solely against the assets of the pertinent trust
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Trust 2015-THC1
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Trust 2015-THC2
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Trust J-2015B
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Trust B-2015C
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Trust D-2015D
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