þ
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
20-1480589
|
(State or Other Jurisdiction of
Incorporation or Organization)
|
(IRS Employer
Identification No.)
|
71 South Wacker Drive,
12th Floor, Chicago, Illinois
|
60606
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
Title of Each Class
|
Name of Each Exchange on Which Registered
|
Class A Common Stock, $0.01 par value
|
New York Stock Exchange
|
Large accelerated filer
þ
|
Accelerated filer
¨
|
Non-accelerated filer
¨
|
Smaller reporting company
¨
|
|
|
PART I
|
|
|
|
|
|
|
|
||
|
Item 1.
|
||
|
Item 1A.
|
||
|
Item 1B.
|
||
|
Item 2.
|
||
|
Item 3.
|
||
|
Item 4.
|
||
|
|
||
|
|
|
|
|
|
PART II
|
|
|
|
|
|
|
Item 5.
|
||
|
Item 6.
|
||
|
Item 7.
|
||
|
Item 7A.
|
||
|
Item 8.
|
||
|
Item 9.
|
||
|
Item 9A.
|
||
|
Item 9B.
|
||
|
|
|
|
|
|
PART III
|
|
|
|
|
|
|
Item 10.
|
||
|
Item 11.
|
||
|
Item 12.
|
||
|
Item 13.
|
||
|
Item 14.
|
||
|
|
|
|
|
|
PART IV
|
|
|
|
|
|
|
Item 15.
|
||
|
Item 16.
|
||
|
|
|
|
|
•
|
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;
|
•
|
general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth;
|
•
|
the rate and the pace of economic recovery following economic downturns;
|
•
|
levels of spending in business and leisure segments as well as consumer confidence;
|
•
|
declines in occupancy and average daily rate ("ADR");
|
•
|
limited visibility with respect to future bookings;
|
•
|
loss of key personnel;
|
•
|
hostilities, or fear of hostilities, including future terrorist attacks, that affect travel;
|
•
|
travel-related accidents;
|
•
|
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;
|
•
|
our ability to successfully achieve certain levels of operating profits at hotels that have performance guarantees in favor of our third-party owners;
|
•
|
the impact of hotel renovations;
|
•
|
risks associated with our capital allocation plans and common stock repurchase program, including the risk that our common stock repurchase program could increase volatility and fail to enhance stockholder value;
|
•
|
the seasonal and cyclical nature of the real estate and hospitality businesses;
|
•
|
changes in distribution arrangements, such as through internet travel intermediaries;
|
•
|
changes in the tastes and preferences of our customers;
|
•
|
relationships with colleagues and labor unions and changes in labor laws;
|
•
|
the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners;
|
•
|
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;
|
•
|
risks associated with potential acquisitions and dispositions and the introduction of new brand concepts;
|
•
|
the timing of acquisitions and dispositions;
|
•
|
failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals);
|
•
|
unforeseen terminations of our management or franchise agreements;
|
•
|
changes in federal, state, local or foreign tax law;
|
•
|
increases in interest rates and operating costs;
|
•
|
foreign exchange rate fluctuations or currency restructurings;
|
•
|
lack of acceptance of new brands or innovation;
|
•
|
general volatility of the capital markets and our ability to access such markets;
|
•
|
changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate;
|
•
|
our ability to successfully implement our new global loyalty program, World of Hyatt, and the level of acceptance of the new program by our guests;
|
•
|
cyber incidents and information technology failures;
|
•
|
outcomes of legal or administrative proceedings; and
|
•
|
violations of regulations or laws related to our franchising business.
|
o
|
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. In addition to existing asset base expansion, we are focused on continued growth of our development pipeline. We have expanded our pipeline by an average of 12% per year since the time of our IPO in 2009. Since 2009 we have also entered 143 new markets and 14 new countries. Expansion in dynamic markets like China and India is central to our growth strategy as representation in key cities and resort destinations provides us with the opportunity to drive preference for our brands as we serve a broader base of guests in these high growth and under-penetrated markets. At
December 31, 2016
, there were approximately 100 hotels open or under development in China in markets such as Beijing, Hong Kong, Shanghai and Shenzhen. In India, the total number of hotels open or under development was approximately 40 properties at
December 31, 2016
. In addition to China and India, we have also announced further expansion plans into diverse international markets including Australia, Germany, Indonesia, Japan, Jordan, Kuwait, New Zealand, Republic of Georgia, Saudi Arabia, Singapore and Thailand.
|
o
|
Expand Select Service Presence
. We continue to expand the Hyatt Place and Hyatt House brands, 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. At
December 31, 2016
, we had 28 Hyatt Place hotels operating outside of the United States in 16 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 Australia, Brazil, China, Germany, India, Malaysia, Mexico, Thailand, Saudi Arabia and Switzerland.
|
o
|
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
|
o
|
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 with an objective to maximize long-term shareholder value and we assess and balance liquidity, value and strategic importance in each instance. We also plan to continue to commit capital to fund the renovation of certain assets in our owned portfolio. While we selectively dispose of hotel properties, we expect to maintain ownership of hotel properties over time given our focus and expertise as an owner. 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. This asset recycling strategy has allowed us to grow and build our brands while improving the quality of our owned portfolio over time. Currently approximately 80% of our owned and leased portfolio consists of full-service hotels in our top markets. We expect to continue to evolve our owned and leased portfolio to include primarily luxury and upper upscale properties in international key gateway cities and resort destinations.
|
o
|
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.
|
o
|
Extend the Hyatt Brand Beyond Traditional Hotel Stays.
In January 2017, we announced the acquisition of Miraval Group, the renowned provider of wellness and mindfulness experiences. The Miraval acquisition extends the Hyatt brand beyond traditional hotel stays, which is core to our global growth strategy, and reflects our commitment to finding new ways to understand and care for our guests, particularly the high-end traveler. By adding Miraval to the Hyatt portfolio, we continue our commitment to a holistic health and wellness strategy as an extension of our purpose. Miraval forms a distinct new wellness category within the Hyatt portfolio of brands, therefore creating an opportunity to expand the Miraval brand while building a greater depth of expertise in wellness and mindfulness that can be extended to our hotel business.
|
Brand
|
|
Segment
|
|
Customer Base
|
|
December 31, 2016 Rooms/Units (1)
|
|
Primary Selected
Competitors |
|
Key Locations
|
||||||
% of our
Total Portfolio |
|
Americas Region
|
|
ASPAC Region
|
|
EAME/SW Asia Region
|
|
|||||||||
|
|
Full
Service/
Luxury
|
|
Individual business and leisure travelers; small meetings
|
|
4%
|
|
1,838
|
|
3,123
|
|
2,626
|
|
Four Seasons,
Ritz-Carlton,
Peninsula,
St. Regis,
Mandarin Oriental
|
|
Buenos Aires, Dubai,
New York, Paris, Shanghai, Sydney,
Washington D.C.
|
|
|
Full
Service/ Luxury |
|
Individual business and leisure travelers; large and small meetings, social events
|
|
14%
|
|
9,774
|
|
12,263
|
|
3,485
|
|
Mandarin Oriental,
Shangri-La, InterContinental, Fairmont |
|
Beijing,
Berlin, Dubai, Hong Kong, New York, Rio de Janeiro, Tokyo |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brand
|
|
Segment
|
|
Customer Base
|
|
December 31, 2016 Rooms/Units (1)
|
|
Primary Selected
Competitors
|
|
Key Locations
|
||||||
% of our
Total Portfolio
|
|
Americas Region
|
|
ASPAC Region
|
|
EAME/SW Asia Region
|
|
|||||||||
|
|
Full
Service/ Upper-Upscale |
|
Conventions, business and leisure travelers; large and small meetings, social events; associations
|
|
45%
|
|
55,065
|
|
12,737
|
|
11,119
|
|
Marriott, Sheraton,
Hilton, Renaissance, Westin |
|
Boston,
Delhi, London, Los Angeles, Mexico City, Orlando, San Francisco |
|
|
Full
Service/ Upper-Upscale |
|
Business and leisure travelers; small meetings
|
|
2%
|
|
2,255
|
|
362
|
|
1,322
|
|
Marriott,
Hilton, InterContinental, Westin, independent and boutique hotels |
|
Abu Dhabi, New York,
Seattle |
|
|
Full
Service/ Luxury |
|
Individual business and leisure travelers; small meetings
|
|
2%
|
|
2,195
|
|
470
|
|
790
|
|
W, Mondrian,
The Standard
|
|
Amsterdam, London,
Los Angeles, Maui, New York,
Shanghai, Tokyo
|
|
|
Full
Service/ Upper-Upscale |
|
Business and leisure travelers; small meetings
|
|
2%
|
|
2,801
|
|
—
|
|
—
|
|
Canopy, Kimpton, Renaissance, Joie de Vivre, independent and boutique hotels
|
|
Chicago, Long Beach, Miami, Montevideo,
New York, Park City
|
|
|
Full
Service/ Upper-Upscale |
|
Individual business and leisure travelers; small meetings
|
|
1%
|
|
715
|
|
—
|
|
177
|
|
Autograph Collection
Luxury Collection
Curio
Tribute Portfolio
|
|
Austin, Carmelo, Miami Beach, Paris, Phoenix
|
|
|
Select
Service/
Upscale
|
|
Individual business and leisure travelers; small meetings
|
|
21%
|
|
34,920
|
|
714
|
|
2,084
|
|
Courtyard by
Marriott, Hilton
Garden Inn
|
|
Atlanta, Chicago, Dallas,
Dubai, Houston,
Miami, Phoenix, Santiago
|
|
|
Select
Service/
Upscale
|
|
Extended stay guests; individual business and leisure travelers;
families; small
meetings/trainings
|
|
6%
|
|
10,186
|
|
112
|
|
—
|
|
Residence Inn
by Marriott,
Homewood
Suites
|
|
Austin, Boston,
Dallas, Miami,
San Francisco
|
|
|
All Inclusive
|
|
Leisure travelers; families; small meetings
|
|
1%
|
|
1,860
|
|
—
|
|
—
|
|
Club Med, Sandals, Beaches
|
|
Cancun, Puerto Vallarta, Rose Hall, San Jose del Cabo
|
|
|
All Inclusive
|
|
Leisure travelers; adult-only; small meetings
|
|
<1%
|
|
541
|
|
—
|
|
—
|
|
Club Med, Sandals, Beaches
|
|
Cancun, Rose Hall
|
|
|
Vacation
Ownership/
Branded
Residential
|
|
Owners of
vacation units, repeat Hyatt business and leisure guests
|
|
2%
|
|
1,185
|
|
470
|
|
1,929
|
|
Hilton Vacation
Club, Marriott
Vacation Club,
Starwood Vacation
Ownership
|
|
Aspen, Beaver Creek, Beijing, Carmel, Danang,
Dubai, Key West, Maui, Park City
|
•
|
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 ("Americas"), which consists of our management and franchising of properties located in the United States, Latin America, Canada and the Caribbean.
|
•
|
ASPAC management and franchising ("ASPAC"), which consists of our management and franchising of properties located in Southeast Asia, as well as greater China, Australia, South Korea, Japan and Micronesia.
|
•
|
EAME/SW Asia management and franchising ("EAME/SW Asia"), which consists of our management and franchising of properties located primarily in Europe, Africa, the Middle East, India, Central Asia and Nepal.
|
|
Assuming no renewal options are exercised by either party:
|
|
Including exercise of extension options that are in Hyatt's sole discretion:
|
Full service management agreements:
|
|
|
|
Americas
|
13 years
|
|
21 years
|
EAME/SW Asia
|
14 years
|
|
21 years
|
ASPAC
|
14 years
|
|
16 years
|
|
|
|
|
Select service management agreements:
|
|
|
|
Americas
|
14 years
|
|
29 years
|
EAME/SW Asia
|
22 years
|
|
38 years
|
ASPAC
|
20 years
|
|
29 years
|
•
|
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;
|
•
|
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;
|
•
|
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;
|
•
|
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;
|
•
|
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
|
•
|
request that we or any of our representatives, directly or indirectly, amend or waive any of the foregoing provisions.
|
•
|
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;
|
•
|
war, civil unrest, terrorist activities or threats and heightened travel security measures instituted in response to these events;
|
•
|
fear of outbreaks or outbreaks of pandemic or contagious diseases;
|
•
|
climate change and resource scarcity, such as water and energy scarcity;
|
•
|
natural or man-made disasters, such as earthquakes, tsunamis, tornados, hurricanes, floods, oil spills and nuclear incidents;
|
•
|
changes in the desirability of particular locations or travel patterns of customers;
|
•
|
decreased corporate budgets and spending and cancellations, deferrals or renegotiations of group business;
|
•
|
low consumer confidence, high levels of unemployment and depressed housing prices;
|
•
|
the financial condition of the airline, automotive and other transportation-related industries and its impact on travel;
|
•
|
decreased airline capacities and routes;
|
•
|
travel-related accidents;
|
•
|
oil prices and travel costs;
|
•
|
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;
|
•
|
domestic and international political and geo-political conditions, including changes in trade policy;
|
•
|
changes in taxes and governmental regulations that influence or set wages, prices, interest rates or construction and maintenance procedures and costs;
|
•
|
the costs and administrative burdens associated with compliance with applicable laws and regulations;
|
•
|
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;
|
•
|
significant increases in cost for healthcare coverage for employees and potential government regulation with respect to health coverage;
|
•
|
the lack of availability, or increase in the cost, of capital for us or our existing and potential owners;
|
•
|
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;
|
•
|
cyclical over-building in the hotel, all inclusive and vacation ownership industries; and
|
•
|
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.
|
•
|
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;
|
•
|
currency exchange rate fluctuations or currency restructurings;
|
•
|
limitations/penalties on the repatriation of non-U.S. earnings;
|
•
|
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;
|
•
|
political and economic instability;
|
•
|
the difficulty of managing an organization doing business in many jurisdictions;
|
•
|
uncertainties as to local laws and enforcement of contract and intellectual property rights and occasional requirements for onerous contract clauses; and
|
•
|
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.
|
•
|
governmental regulations relating to real estate ownership;
|
•
|
real estate, insurance, zoning, tax, environmental and eminent domain laws;
|
•
|
the ongoing need for owner funded capital improvements and expenditures to maintain or upgrade properties;
|
•
|
risks associated with mortgage debt, including the possibility of default, fluctuating interest rate levels and the availability of replacement financing;
|
•
|
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;
|
•
|
fluctuations in real estate values or potential impairments in the value of our assets; and
|
•
|
the relative illiquidity of real estate compared to some other assets.
|
•
|
go bankrupt or otherwise are unable to meet their capital contribution obligations;
|
•
|
have economic or business interests or goals that are or become inconsistent with our business interests or goals;
|
•
|
are in a position to take action contrary to our instructions, our requests, our policies, our objectives or applicable laws;
|
•
|
subject the property to liabilities exceeding those contemplated;
|
•
|
take actions that reduce our return on investment; or
|
•
|
take actions that harm our reputation or restrict our ability to run our business.
|
•
|
issuing shares of stock that could dilute the interests of our existing stockholders;
|
•
|
spending cash and incurring debt;
|
•
|
assuming contingent liabilities;
|
•
|
contributing properties or related assets to hospitality ventures that could result in recognition of losses; or
|
•
|
creating additional expenses.
|
•
|
coordinating sales, distribution and marketing functions;
|
•
|
integrating technology information systems; and
|
•
|
preserving the important licensing, distribution, marketing, customer, labor and other relationships of the acquired assets.
|
•
|
construction delays or cost overruns (including labor and materials) that may increase project costs;
|
•
|
obtaining zoning, occupancy and other required permits or authorizations;
|
•
|
changes in economic conditions that may result in weakened or lack of demand or negative project returns;
|
•
|
governmental restrictions on the size or kind of development;
|
•
|
force majeure events, including earthquakes, tornados, hurricanes, floods or tsunamis; and
|
•
|
design defects that could increase costs.
|
•
|
a risk that cash flow from operations will be insufficient to meet required payments of principal and interest;
|
•
|
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
|
•
|
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.
|
•
|
health and safety;
|
•
|
the use, management and disposal of hazardous substances and wastes;
|
•
|
discharges of waste materials into the environment, such as refuse or sewage; and
|
•
|
air emissions.
|
•
|
be expensive and time consuming to defend;
|
•
|
force us to stop providing products or services that use the intellectual property that is being challenged;
|
•
|
force us to redesign or rebrand our products or services;
|
•
|
divert our management's attention and resources;
|
•
|
force us to enter into royalty or licensing agreements to obtain the right to use a third-party's intellectual property; or
|
•
|
force us to pay significant damages.
|
•
|
quarterly variations in our operating results compared to market expectations;
|
•
|
annual variations in our operating results compared to our guidance;
|
•
|
announcements of acquisitions of or investments in other businesses and properties or dispositions;
|
•
|
announcements of new services or products or significant price reductions by us or our competitors;
|
•
|
size of our public float;
|
•
|
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;
|
•
|
stock price performance of our competitors;
|
•
|
fluctuations in stock market prices and volumes in the U.S. and abroad;
|
•
|
low investor confidence;
|
•
|
default on our indebtedness or foreclosure of our properties;
|
•
|
changes in senior management or key personnel;
|
•
|
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;
|
•
|
negative earnings or other announcements by us or other hospitality companies;
|
•
|
downgrades in our credit ratings or the credit ratings of our competitors;
|
•
|
issuances or repurchases of equity or debt securities;
|
•
|
a decision to pay or not to pay dividends;
|
•
|
terrorist activities or threats of such activities, civil or political unrest or war; and
|
•
|
global economic, legal and regulatory factors unrelated to our performance.
|
•
|
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.
|
•
|
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.
|
•
|
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.
|
•
|
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.
|
•
|
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.
|
•
|
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.
|
•
|
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.
|
•
|
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.
|
•
|
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.
|
•
|
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.
|
•
|
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, 2016 through November 4, 2017
|
20,662,849
|
During the 12 month period from November 5, 2017 through November 4, 2018
|
19,241,046
|
During the 12 month period from November 5, 2018 through November 4, 2019
|
13,449,973
|
During the 12 month period from November 5, 2019 through November 4, 2020
|
6,916,287
|
During the 12 month period from November 5, 2020 through November 4, 2021
|
6,419,886
|
During the 12 month period from November 5, 2021 through November 4, 2022
|
6,271,290
|
During the 12 month period from November 5, 2022 through November 4, 2023
|
3,001,963
|
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
|
%
|
|
Grand Hyatt New York (4)
|
|
New York, NY
|
|
1,306
|
|
|
|
|
100
|
%
|
|
Grand Hyatt Rio de Janeiro
|
|
Rio de Janeiro, Brazil
|
|
436
|
|
|
|
|
100
|
%
|
|
Grand Hyatt San Antonio (4)
|
|
San Antonio, TX
|
|
1,003
|
|
|
|
|
100
|
%
|
|
Grand Hyatt San Francisco
|
|
San Francisco, CA
|
|
660
|
|
|
|
|
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
|
|
1,095
|
|
|
|
|
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
|
%
|
|
Andaz Maui at Wailea Resort
|
|
Wailea, HI
|
|
300
|
|
|
|
|
100
|
%
|
|
Hyatt Centric The Pike Long Beach (4)
|
|
Long Beach, CA
|
|
138
|
|
|
|
|
100
|
%
|
|
The Confidante Miami Beach
|
|
Miami Beach, FL
|
|
363
|
|
|
|
|
100
|
%
|
|
The Driskill (4)
|
|
Austin, TX
|
|
189
|
|
|
|
|
100
|
%
|
|
Royal Palms Resort and Spa
|
|
Phoenix, AZ
|
|
119
|
|
|
|
|
100
|
%
|
|
Americas Owned
|
|
|
|
16,517
|
|
|
29
|
|
|
|
Hotel Property
|
|
Location
|
|
Rooms
|
|
# of Hotels
|
|
Ownership (1)
|
|||
Americas Leased:
|
|
|
|
|
|
|
|
|
|||
Hyatt Regency San Francisco (3)
|
|
San Francisco, CA
|
|
804
|
|
|
|
|
—
|
%
|
|
Andaz West Hollywood (3)
|
|
West Hollywood, CA
|
|
239
|
|
|
|
|
—
|
%
|
|
Americas Leased
|
|
|
|
1,043
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Total Americas Owned and Leased Properties
|
|
|
|
17,560
|
|
|
31
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
EAME/SW Asia Owned:
|
|
|
|
|
|
|
|
|
|||
Park Hyatt Paris - Vendôme
|
|
Paris, France
|
|
153
|
|
|
|
|
100
|
%
|
|
Park Hyatt Zurich (4)
|
|
Zurich, Switzerland
|
|
138
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Baku
|
|
Baku, Azerbaijan
|
|
159
|
|
|
|
|
100
|
%
|
|
Hyatt Regency Bishkek (4)
|
|
Bishkek, Kyrgyz Republic
|
|
178
|
|
|
|
|
98
|
%
|
|
Andaz London Liverpool Street (7)
|
|
London, England
|
|
267
|
|
|
|
|
100
|
%
|
|
EAME/SW Asia Owned
|
|
|
|
895
|
|
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
EAME/SW Asia Leased:
|
|
|
|
|
|
|
|
|
|||
Grand Hyatt Berlin (3) (6)
|
|
Berlin, Germany
|
|
342
|
|
|
|
|
—
|
%
|
|
Hyatt Regency Cologne (3) (6)
|
|
Cologne, Germany
|
|
306
|
|
|
|
|
—
|
%
|
|
Hyatt Regency Mainz (3) (6)
|
|
Mainz, Germany
|
|
268
|
|
|
|
|
—
|
%
|
|
Andaz Amsterdam, Prinsengracht (3) (6)
|
|
Amsterdam, The Netherlands
|
|
122
|
|
|
|
|
—
|
%
|
|
EAME/SW Asia Leased
|
|
|
|
1,038
|
|
|
4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Total EAME/SW Asia Owned and Leased Properties
|
|
|
|
1,933
|
|
|
9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ASPAC Owned:
|
|
|
|
|
|
|
|
|
|||
Grand Hyatt Seoul
|
|
Seoul, South Korea
|
|
601
|
|
|
|
|
100
|
%
|
|
ASPAC Owned
|
|
|
|
601
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Total Full Service Owned and Leased Properties
|
|
|
|
20,094
|
|
|
41
|
|
|
|
Hotel Property
|
|
Location
|
|
Rooms
|
|
# of Hotels
|
|
Ownership (1)
|
|||
Select Service
|
|
|
|
|
|
|
|
|
|||
Leased:
|
|
|
|
|
|
|
|
|
|||
Hyatt Place Amsterdam Airport (3) (6)
|
|
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:
|
|
|
|
|
|
|
|
|
|||
Grand Hyatt São Paulo
|
|
São Paulo, Brazil
|
|
466
|
|
|
|
|
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
|
|
Huntington Beach, CA
|
|
517
|
|
|
|
|
40
|
%
|
|
Hyatt Regency Jersey City on the Hudson
|
|
Jersey City, NJ
|
|
351
|
|
|
|
|
50
|
%
|
|
Hyatt Regency Minneapolis
|
|
Minneapolis, MN
|
|
645
|
|
|
|
|
50
|
%
|
|
Hyatt at The Bellevue
|
|
Philadelphia, PA
|
|
172
|
|
|
|
|
50
|
%
|
|
Andaz Mayakoba Resort Riviera Maya
|
|
Cancun, Mexico
|
|
214
|
|
|
|
|
40
|
%
|
|
Americas Unconsolidated Hospitality Ventures
|
|
|
|
3,684
|
|
|
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
|
%
|
|
Andaz Delhi
|
|
New Delhi, India
|
|
401
|
|
|
|
|
50
|
%
|
|
EAME/SW Asia Unconsolidated Hospitality Ventures
|
|
|
|
1,516
|
|
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ASPAC Unconsolidated Hospitality Ventures:
|
|
|
|
|
|
|
|
|
|||
Grand Hyatt Bali
|
|
Bali, Indonesia
|
|
636
|
|
|
|
|
10
|
%
|
|
ASPAC Unconsolidated Hospitality Ventures
|
|
|
|
636
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Full Service Unconsolidated Hospitality Ventures
|
|
|
|
5,836
|
|
|
14
|
|
|
|
Hotel Property
|
|
Location
|
|
Rooms
|
|
# of Hotels
|
|
Ownership (1)
|
|||
Select Service Unconsolidated Hospitality Ventures
|
|
|
|
|
|
|
|
|
|||
Hyatt Place Celaya
|
|
Celaya, Mexico
|
|
145
|
|
|
|
|
50
|
%
|
|
Hyatt Place Ciudad del Carmen
|
|
Ciudad del Carmen, Mexico
|
|
140
|
|
|
|
|
50
|
%
|
|
Hyatt Place Denver/Downtown
|
|
Denver, CO
|
|
248
|
|
|
|
|
50
|
%
|
|
Hyatt Place Fair Lawn/Paramus
|
|
Fair Lawn, NJ
|
|
143
|
|
|
|
|
40
|
%
|
|
Hyatt Place La Paz
|
|
La Paz, Mexico
|
|
151
|
|
|
|
|
50
|
%
|
|
Hyatt Place Los Cabos
|
|
San Jose del Cabo, Mexico
|
|
157
|
|
|
|
|
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 São José do Rio Preto
|
|
São José do Rio Preto, Brazil
|
|
152
|
|
|
|
|
70
|
%
|
|
Hyatt Place San Juan/City Center
|
|
San Juan, Puerto Rico
|
|
149
|
|
|
|
|
50
|
%
|
|
Hyatt Place Tijuana
|
|
Tijuana, Mexico
|
|
145
|
|
|
|
|
50
|
%
|
|
Hyatt Place Washington DC/Georgetown/West End
|
|
Washington, D.C.
|
|
168
|
|
|
|
|
33
|
%
|
|
Hyatt House Boston/Waltham
|
|
Waltham, MA
|
|
135
|
|
|
|
|
40
|
%
|
|
Hyatt House Denver/Downtown
|
|
Denver, CO
|
|
113
|
|
|
|
|
50
|
%
|
|
Select Service Unconsolidated Hospitality Ventures
|
|
|
|
2,264
|
|
|
15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
All Inclusive Unconsolidated Hospitality Ventures
|
|
|
|
|
|
|
|
|
|||
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
|
%
|
|
Hyatt Zilara Cancun
|
|
Cancun, Mexico
|
|
307
|
|
|
|
|
24
|
%
|
|
Hyatt Zilara Rose Hall
|
|
Montego Bay, Jamaica
|
|
234
|
|
|
|
|
24
|
%
|
|
All Inclusive Unconsolidated Hospitality Ventures
|
|
|
|
2,401
|
|
|
6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Total Unconsolidated Hospitality Ventures
|
|
|
|
10,501
|
|
|
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.
|
(7)
|
Our ownership interest is derived through a long leasehold interest in the hotel building, with a nominal annual rental payment.
|
|
December 31, 2016
|
|
December 31, 2015
|
|
December 31, 2014
|
||||||||||||
|
Properties
|
|
Rooms/Units
|
|
Properties
|
|
Rooms/Units
|
|
Properties
|
|
Rooms/Units
|
||||||
Americas Management and Franchising
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Full Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
120
|
|
|
60,806
|
|
|
115
|
|
|
60,388
|
|
|
117
|
|
|
61,277
|
|
Franchised
|
46
|
|
|
13,837
|
|
|
40
|
|
|
12,191
|
|
|
34
|
|
|
10,416
|
|
Full Service Managed and Franchised
|
166
|
|
|
74,643
|
|
|
155
|
|
|
72,579
|
|
|
151
|
|
|
71,693
|
|
Select Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
65
|
|
|
9,237
|
|
|
59
|
|
|
8,329
|
|
|
57
|
|
|
7,995
|
|
Franchised
|
260
|
|
|
35,869
|
|
|
236
|
|
|
32,126
|
|
|
212
|
|
|
28,573
|
|
Select Service Managed and Franchised
|
325
|
|
|
45,106
|
|
|
295
|
|
|
40,455
|
|
|
269
|
|
|
36,568
|
|
ASPAC Management and Franchising
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Full Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
75
|
|
|
27,669
|
|
|
68
|
|
|
24,848
|
|
|
64
|
|
|
23,954
|
|
Franchised
|
3
|
|
|
1,286
|
|
|
3
|
|
|
1,284
|
|
|
2
|
|
|
988
|
|
Full Service Managed and Franchised
|
78
|
|
|
28,955
|
|
|
71
|
|
|
26,132
|
|
|
66
|
|
|
24,942
|
|
Select Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
5
|
|
|
826
|
|
|
1
|
|
|
144
|
|
|
1
|
|
|
144
|
|
Select Service Managed
|
5
|
|
|
826
|
|
|
1
|
|
|
144
|
|
|
1
|
|
|
144
|
|
EAME/SW Asia Management and Franchising
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Full Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
71
|
|
|
19,519
|
|
|
67
|
|
|
18,466
|
|
|
63
|
|
|
16,832
|
|
Select Service Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Managed
|
11
|
|
|
1,726
|
|
|
10
|
|
|
1,560
|
|
|
5
|
|
|
926
|
|
Franchised
|
1
|
|
|
358
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Select Service Managed and Franchised
|
12
|
|
|
2,084
|
|
|
10
|
|
|
1,560
|
|
|
5
|
|
|
926
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Total Managed and Franchised
|
657
|
|
|
171,133
|
|
|
599
|
|
|
159,336
|
|
|
555
|
|
|
151,105
|
|
|
December 31, 2016
|
|
December 31, 2015
|
|
December 31, 2014
|
||||||||||||
|
Properties
|
|
Rooms
|
|
Properties
|
|
Rooms
|
|
Properties
|
|
Rooms
|
||||||
Owned and Leased Hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Full Service hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
United States
|
28
|
|
|
16,012
|
|
|
26
|
|
|
15,415
|
|
|
27
|
|
|
15,914
|
|
Other Americas
|
3
|
|
|
1,548
|
|
|
2
|
|
|
1,112
|
|
|
2
|
|
|
1,112
|
|
ASPAC
|
1
|
|
|
601
|
|
|
1
|
|
|
601
|
|
|
1
|
|
|
601
|
|
EAME/SW Asia
|
9
|
|
|
1,933
|
|
|
10
|
|
|
2,252
|
|
|
10
|
|
|
2,256
|
|
Select Service hotels
|
|
|
|
|
|
|
|
|
|
|
|
||||||
United States
|
1
|
|
|
171
|
|
|
1
|
|
|
171
|
|
|
2
|
|
|
329
|
|
EAME/SW Asia
|
1
|
|
|
330
|
|
|
1
|
|
|
330
|
|
|
1
|
|
|
330
|
|
Total Owned and Leased Hotels
|
43
|
|
|
20,595
|
|
|
41
|
|
|
19,881
|
|
|
43
|
|
|
20,542
|
|
Name
|
|
Age
|
|
Position
|
Thomas J. Pritzker
|
|
66
|
|
Executive Chairman of the Board
|
Mark S. Hoplamazian
|
|
53
|
|
President, Chief Executive Officer and Director (Principal Executive Officer)
|
Patrick J. Grismer
|
|
55
|
|
Executive Vice President, Chief Financial Officer (Principal Financial Officer)
|
Stephen G. Haggerty
|
|
49
|
|
Executive Vice President, Global Head of Capital Strategy, Franchising and Select Service
|
H. Charles Floyd
|
|
57
|
|
Executive Vice President, Global President of Operations
|
Peter J. Sears
|
|
52
|
|
Executive Vice President, Group President—Americas
|
David Udell
|
|
56
|
|
Executive Vice President, Group President—ASPAC
|
Peter Fulton
|
|
59
|
|
Executive Vice President, Group President—EAME/SW Asia
|
Rena Hozore Reiss
|
|
57
|
|
Executive Vice President, General Counsel and Secretary
|
Maryam Banikarim
|
|
48
|
|
Executive Vice President, Global Chief Marketing Officer
|
Anne-Marie Law
|
|
49
|
|
Executive Vice President, Chief Human Resources Officer
|
Item 5.
|
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
|
Fiscal Year end December 31, 2016
|
High
|
|
Low
|
First Quarter
|
$49.82
|
|
$34.06
|
Second Quarter
|
$50.94
|
|
$44.30
|
Third Quarter
|
$54.82
|
|
$47.85
|
Fourth Quarter
|
$58.05
|
|
$47.96
|
|
|
|
|
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
|
|
12/31/2011
|
12/31/2012
|
12/31/2013
|
12/31/2014
|
12/31/2015
|
12/31/2016
|
Hyatt Hotels Corporation
|
100.0
|
102.5
|
131.4
|
160.0
|
124.9
|
146.8
|
S&P 500
|
100.0
|
116.0
|
153.5
|
174.5
|
176.9
|
198.0
|
Russell 1000 Hotel
|
100.0
|
121.5
|
179.4
|
201.4
|
169.2
|
213.6
|
|
|
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, 2016
|
|
—
|
|
|
$
|
—
|
|
|
|
—
|
|
|
$
|
110,972,257
|
|
November 1 to November 30, 2016
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
$
|
110,972,257
|
|
|
December 1 to December 31, 2016
|
|
75,133
|
|
|
56.64
|
|
|
|
75,133
|
|
|
$
|
356,716,753
|
|
|
Total
|
|
75,133
|
|
|
$
|
56.64
|
|
|
|
75,133
|
|
|
|
|
Year Ended December 31,
|
||||||||||||||||||
2016
|
|
2015
|
|
2014
|
|
2013
|
|
2012
|
|||||||||||
Consolidated statements of income data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Owned and leased hotels
|
$
|
2,108
|
|
|
$
|
2,079
|
|
|
$
|
2,246
|
|
|
$
|
2,142
|
|
|
$
|
2,021
|
|
Management and franchise fees
|
448
|
|
|
427
|
|
|
387
|
|
|
342
|
|
|
307
|
|
|||||
Other revenues
|
40
|
|
|
36
|
|
|
75
|
|
|
78
|
|
|
78
|
|
|||||
Other revenues from managed properties (1)
|
1,833
|
|
|
1,786
|
|
|
1,707
|
|
|
1,622
|
|
|
1,543
|
|
|||||
Total revenues
|
4,429
|
|
|
4,328
|
|
|
4,415
|
|
|
4,184
|
|
|
3,949
|
|
|||||
Direct and selling, general, and administrative expenses
|
4,130
|
|
|
4,005
|
|
|
4,136
|
|
|
3,951
|
|
|
3,790
|
|
|||||
Income from continuing operations
|
204
|
|
|
124
|
|
|
346
|
|
|
205
|
|
|
87
|
|
|||||
Net (income) loss attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
(2
|
)
|
|
2
|
|
|
1
|
|
|||||
Net income attributable to Hyatt Hotels Corporation
|
204
|
|
|
124
|
|
|
344
|
|
|
207
|
|
|
88
|
|
|||||
Income from continuing operations per common share - basic
|
$
|
1.53
|
|
|
$
|
0.87
|
|
|
$
|
2.26
|
|
|
$
|
1.29
|
|
|
$
|
0.53
|
|
Income from continuing operations per common share - diluted
|
$
|
1.52
|
|
|
$
|
0.86
|
|
|
$
|
2.24
|
|
|
$
|
1.29
|
|
|
$
|
0.53
|
|
|
At December 31,
|
||||||||||||||||||
2016
|
|
2015
|
|
2014
|
|
2013
|
|
2012
|
|||||||||||
Consolidated balance sheet data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash and cash equivalents
|
$
|
482
|
|
|
$
|
457
|
|
|
$
|
685
|
|
|
$
|
454
|
|
|
$
|
413
|
|
Total current assets
|
1,139
|
|
|
1,124
|
|
|
1,709
|
|
|
1,163
|
|
|
1,758
|
|
|||||
Property and equipment, net
|
4,270
|
|
|
4,031
|
|
|
4,186
|
|
|
4,671
|
|
|
4,139
|
|
|||||
Intangibles, net
|
599
|
|
|
547
|
|
|
552
|
|
|
591
|
|
|
388
|
|
|||||
Total assets
|
7,749
|
|
|
7,591
|
|
|
8,137
|
|
|
8,170
|
|
|
7,624
|
|
|||||
Total current liabilities
|
924
|
|
|
1,107
|
|
|
730
|
|
|
871
|
|
|
618
|
|
|||||
Long-term debt
|
1,445
|
|
|
1,042
|
|
|
1,375
|
|
|
1,282
|
|
|
1,223
|
|
|||||
Other long-term liabilities
|
1,472
|
|
|
1,447
|
|
|
1,401
|
|
|
1,240
|
|
|
962
|
|
|||||
Total liabilities
|
3,841
|
|
|
3,596
|
|
|
3,506
|
|
|
3,393
|
|
|
2,803
|
|
|||||
Total stockholders’ equity
|
3,903
|
|
|
3,991
|
|
|
4,627
|
|
|
4,769
|
|
|
4,811
|
|
|||||
Total liabilities and equity
|
$
|
7,749
|
|
|
$
|
7,591
|
|
|
$
|
8,137
|
|
|
$
|
8,170
|
|
|
$
|
7,624
|
|
(1)
|
Represents revenues we receive from third-party property owners who reimburse us for costs we incur on their behalf, with no added margin. These costs relate primarily to payroll at managed properties where we are the employer, as well as reservations, marketing and technology costs. 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.
|
•
|
281
managed properties (
92,021
rooms), all of which we operate under management agreements with third-party property owners;
|
•
|
304
franchised properties (
50,417
rooms), all of which are owned by third parties that have franchise agreements with us and are operated by third parties;
|
•
|
35
owned properties (
18,013
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
|
•
|
23
managed properties and
6
franchised properties owned or leased by unconsolidated hospitality ventures (
8,100
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
|
•
|
19
residential properties (
2,546
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.
|
•
|
interest expense;
|
•
|
provision for income taxes;
|
•
|
depreciation and amortization;
|
•
|
equity earnings (losses) from unconsolidated hospitality ventures;
|
•
|
stock-based compensation expense;
|
•
|
gains (losses) on sales of real estate and other;
|
•
|
asset impairments;
|
•
|
other income (loss), net; and
|
•
|
net income attributable to noncontrolling interests.
|
•
|
acquired Thompson Miami Beach for a purchase price of approximately
$238 million
. The hotel was subsequently rebranded as The Confidante Miami Beach, and added to The Unbound Collection by Hyatt;
|
•
|
acquired our partners' share in Andaz Maui at Wailea Resort and villas for a net purchase price of approximately
$136 million
. We accounted for the transaction as a step acquisition and recorded a gain through equity earnings (losses) from unconsolidated hospitality ventures of
$14 million
. Additionally, prior to the acquisition the unconsolidated hospitality venture repaid $121 million of third-party debt;
|
•
|
acquired Royal Palms Resort and Spa in Phoenix, Arizona for a net purchase price of approximately $86 million and added the hotel to The Unbound Collection by Hyatt;
|
•
|
sold Andaz 5th Avenue for a net sales price of
$240 million
and entered into a long-term management agreement with the purchaser of the hotel;
|
•
|
sold the shares of the company that owns Hyatt Regency Birmingham (U.K.) for a net sales price of approximately
$49 million
and entered into a long-term management agreement with the purchaser of the hotel; and
|
•
|
two unconsolidated hospitality ventures in which we hold or held an ownership interest and that are classified as equity method investments sold five Hyatt Place hotels for which we received combined proceeds of
$15 million
.
|
•
|
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;
|
•
|
two unconsolidated hospitality ventures in which we hold or held an ownership interest and are classified as equity method investments sold two Hyatt House hotels for which we received combined proceeds of $16 million;
|
•
|
sold a Hyatt House hotel for a net sales price of $5 million; and
|
•
|
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.
|
•
|
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 $220 million, net of working capital adjustments, which includes an interest in an unconsolidated hospitality venture that owns a vacation ownership property in Maui, Hawaii, as well as a full service hotel. We entered into a master license agreement and receive ongoing license fees under this agreement. The Hyatt Residence Club and the vacation ownership resorts retained the Hyatt Residence Club brand;
|
•
|
sold nine select service properties and one full service property for a combined $311 million. The properties 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 an unconsolidated hospitality venture for a net purchase price of approximately $164 million. We accounted for the transaction as a step acquisition and recorded a gain through equity earnings (losses) from unconsolidated hospitality ventures of
$12 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 Hyatt Place hotels for a total of $51 million, net of closing costs, and entered into long-term franchise agreements with the purchasers of the hotels;
|
•
|
four unconsolidated hospitality ventures in which we held an ownership interest each sold a hotel to a third party. The hotels 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.
|
|
Year Ended December 31,
|
|||||||||||||||||
|
2016
|
|
2015
|
|
Better / (Worse)
|
|
Currency Impact
|
|||||||||||
Comparable owned and leased hotels revenues
|
$
|
2,018
|
|
|
$
|
2,017
|
|
|
$
|
1
|
|
|
—
|
%
|
|
$
|
(23
|
)
|
Non-comparable owned and leased hotels revenues
|
90
|
|
|
62
|
|
|
28
|
|
|
45.2
|
%
|
|
(2
|
)
|
||||
Total owned and leased hotels revenues
|
$
|
2,108
|
|
|
$
|
2,079
|
|
|
$
|
29
|
|
|
1.4
|
%
|
|
$
|
(25
|
)
|
|
Year Ended December 31,
|
|||||||||||||||||
|
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,
|
||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
Better / (Worse)
2016 vs 2015
|
|
Better / (Worse)
2015 vs 2014
|
||||||||||||||||
Base management fees
|
$
|
190
|
|
|
$
|
187
|
|
|
$
|
180
|
|
|
$
|
3
|
|
|
1.6
|
%
|
|
$
|
7
|
|
|
3.9
|
%
|
Incentive management fees
|
117
|
|
|
113
|
|
|
111
|
|
|
4
|
|
|
3.5
|
%
|
|
2
|
|
|
1.8
|
%
|
|||||
Franchise fees
|
104
|
|
|
88
|
|
|
65
|
|
|
16
|
|
|
18.2
|
%
|
|
23
|
|
|
35.4
|
%
|
|||||
Other fee revenues
|
37
|
|
|
39
|
|
|
31
|
|
|
(2
|
)
|
|
(5.1
|
)%
|
|
8
|
|
|
25.8
|
%
|
|||||
Total management and franchise fees
|
$
|
448
|
|
|
$
|
427
|
|
|
$
|
387
|
|
|
$
|
21
|
|
|
4.9
|
%
|
|
$
|
40
|
|
|
10.3
|
%
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
Better / (Worse)
2016 vs 2015 |
|
Better / (Worse)
2015 vs 2014 |
||||||||||||||||
Other revenues from managed properties excluding rabbi trust impact
|
$
|
1,825
|
|
|
$
|
1,785
|
|
|
$
|
1,698
|
|
|
$
|
40
|
|
|
2.2
|
%
|
|
$
|
87
|
|
|
5.1
|
%
|
Rabbi trust impact
|
8
|
|
|
1
|
|
|
9
|
|
|
7
|
|
|
700.0
|
%
|
|
(8
|
)
|
|
(88.9
|
)%
|
|||||
Other revenues from managed properties
|
$
|
1,833
|
|
|
$
|
1,786
|
|
|
$
|
1,707
|
|
|
$
|
47
|
|
|
2.6
|
%
|
|
$
|
79
|
|
|
4.6
|
%
|
|
Year Ended December 31,
|
|||||||||||||
|
2016
|
|
2015
|
|
Better / (Worse)
|
|||||||||
Comparable owned and leased hotels expense
|
$
|
1,520
|
|
|
$
|
1,512
|
|
|
$
|
(8
|
)
|
|
(0.5
|
)%
|
Non-comparable owned and leased hotels expense
|
87
|
|
|
49
|
|
|
(38
|
)
|
|
(77.6
|
)%
|
|||
Rabbi trust impact
|
3
|
|
|
1
|
|
|
(2
|
)
|
|
(200.0
|
)%
|
|||
Total owned and leased hotels expense
|
$
|
1,610
|
|
|
$
|
1,562
|
|
|
$
|
(48
|
)
|
|
(3.1
|
)%
|
|
Year Ended December 31,
|
|||||||||||||
|
2015
|
|
2014
|
|
Better / (Worse)
|
|||||||||
Comparable owned and leased hotels expense
|
$
|
1,447
|
|
|
$
|
1,423
|
|
|
$
|
(24
|
)
|
|
(1.7
|
)%
|
Non-comparable owned and leased hotels expense
|
114
|
|
|
265
|
|
|
151
|
|
|
57.0
|
%
|
|||
Rabbi trust impact
|
1
|
|
|
3
|
|
|
2
|
|
|
66.7
|
%
|
|||
Total owned and leased hotels expense
|
$
|
1,562
|
|
|
$
|
1,691
|
|
|
$
|
129
|
|
|
7.6
|
%
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
Change
2016 vs 2015 |
|
Change
2015 vs 2014 |
||||||||||||||||
Selling, general, and administrative expenses
|
$
|
315
|
|
|
$
|
308
|
|
|
$
|
349
|
|
|
$
|
7
|
|
|
2.3
|
%
|
|
$
|
(41
|
)
|
|
(11.7
|
)%
|
Less: rabbi trust impact
|
(14
|
)
|
|
(2
|
)
|
|
(9
|
)
|
|
(12
|
)
|
|
(600.0
|
)%
|
|
7
|
|
|
77.8
|
%
|
|||||
Less: stock-based compensation expense
|
(25
|
)
|
|
(23
|
)
|
|
(49
|
)
|
|
(2
|
)
|
|
(8.7
|
)%
|
|
26
|
|
|
53.1
|
%
|
|||||
Adjusted selling, general, and administrative expenses
|
276
|
|
|
283
|
|
|
291
|
|
|
(7
|
)
|
|
(2.5
|
)%
|
|
(8
|
)
|
|
(2.7
|
)%
|
|||||
Less: vacation ownership business
|
—
|
|
|
—
|
|
|
(24
|
)
|
|
—
|
|
|
—
|
%
|
|
24
|
|
|
100.0
|
%
|
|||||
Adjusted selling, general, and administrative expenses excluding impact of sale of vacation ownership business
|
$
|
276
|
|
|
$
|
283
|
|
|
$
|
267
|
|
|
$
|
(7
|
)
|
|
(2.5
|
)%
|
|
$
|
16
|
|
|
6.0
|
%
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
Better / (Worse)
2016 vs 2015 |
|
Better / (Worse)
2015 vs 2014 |
||||||||||||||||
Rabbi trust impact allocated to selling, general, and administrative expenses
|
$
|
14
|
|
|
$
|
2
|
|
|
$
|
9
|
|
|
$
|
12
|
|
|
600.0
|
%
|
|
$
|
(7
|
)
|
|
(77.8
|
)%
|
Rabbi trust impact allocated to owned and leased hotels expense
|
3
|
|
|
1
|
|
|
3
|
|
|
2
|
|
|
200.0
|
%
|
|
(2
|
)
|
|
(66.7
|
)%
|
|||||
Net gains and interest income from marketable securities held to fund our Hyatt Gold Passport program allocated to owned and leased hotels revenues
|
2
|
|
|
1
|
|
|
3
|
|
|
1
|
|
|
100.0
|
%
|
|
(2
|
)
|
|
(66.7
|
)%
|
|||||
Net gains and interest income from marketable securities held to fund operating programs
|
$
|
19
|
|
|
$
|
4
|
|
|
$
|
15
|
|
|
$
|
15
|
|
|
375.0
|
%
|
|
$
|
(11
|
)
|
|
(73.3
|
)%
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
Better / (Worse)
2016 vs 2015 |
|
Better / (Worse)
2015 vs 2014 |
||||||||||||||||
Equity earnings (losses) from unconsolidated hospitality ventures
|
$
|
68
|
|
|
$
|
(64
|
)
|
|
$
|
25
|
|
|
$
|
132
|
|
|
206.3
|
%
|
|
$
|
(89
|
)
|
|
(356.0
|
)%
|
•
|
$42 million increase in earnings from distributions from three of our unconsolidated hospitality ventures, related to debt refinancings;
|
•
|
$35 million increase due to foreign currency volatility at one of our unconsolidated hospitality ventures which holds loans denominated in a currency other than its functional currency. During the year ended December 31, 2016, we recognized foreign currency gains of $7 million compared to the year ended December 31, 2015 in which we recognized foreign currency losses of $28 million. A portion of the loan balance was refinanced at the end of 2015 and therefore we anticipate decreased exposure in future periods as compared to 2015;
|
•
|
$14 million gain related to the 2016 acquisition of our partners' share in Andaz Maui at Wailea Resort and villas that was recorded as a step acquisition;
|
•
|
$21 million increase as a result of losses recognized during the year ended December 31, 2015 related to the sale of an entity that held an interest in one of our foreign currency denominated unconsolidated hospitality ventures and the release of accumulated foreign currency translation losses upon sale;
|
•
|
$13 million increase primarily attributable to expenses recognized in the year ended December 31, 2015 related to debt repayment guarantees entered into by our unconsolidated hospitality ventures; and
|
•
|
$9 million decrease related to impairment charges recorded related to four unconsolidated hospitality ventures during the year ended December 31, 2016.
|
•
|
$23 million increase in foreign currency losses at one of our unconsolidated hospitality ventures which holds loans denominated in a currency other than its functional currency, resulting in losses due to currency volatility during the period;
|
•
|
$21 million decrease related to gains on sales of hotels by unconsolidated 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;
|
•
|
$21 million decrease attributable to the release of accumulated foreign currency translation losses related to the aforementioned sale of an entity that held an interest in one of our foreign currency denominated unconsolidated hospitality ventures during the year ended December 31, 2015;
|
•
|
$16 million decrease related to timing of recognition of expenses due to debt repayment guarantees entered into during 2015 related to three of our unconsolidated hospitality ventures; and
|
•
|
$11 million decrease attributable to operating and non-operating losses related to one of our unconsolidated hospitality ventures which was driven primarily by interest, tax, and other nonrecurring expenses recorded during the period.
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
Better / (Worse)
2016 vs 2015 |
|
Better / (Worse)
2015 vs 2014 |
||||||||||
Income before income taxes
|
$
|
289
|
|
|
$
|
194
|
|
|
$
|
525
|
|
|
$
|
95
|
|
|
$
|
(331
|
)
|
Income tax expense
|
(85
|
)
|
|
(70
|
)
|
|
(179
|
)
|
|
(15
|
)
|
|
109
|
|
|||||
Effective tax rate
|
29.5
|
%
|
|
36.2
|
%
|
|
34.1
|
%
|
|
6.7
|
%
|
|
(2.1
|
)%
|
|
Year Ended December 31,
|
|||||||||||||||||
|
2016
|
|
2015
|
|
Better / (Worse)
|
|
Currency Impact
|
|||||||||||
Comparable owned and leased hotels revenues
|
$
|
2,029
|
|
|
$
|
2,017
|
|
|
$
|
12
|
|
|
0.6
|
%
|
|
$
|
(23
|
)
|
Non-comparable owned and leased hotels revenues
|
90
|
|
|
62
|
|
|
28
|
|
|
45.2
|
%
|
|
(2
|
)
|
||||
Total owned and leased hotels revenues
|
$
|
2,119
|
|
|
$
|
2,079
|
|
|
$
|
40
|
|
|
1.9
|
%
|
|
$
|
(25
|
)
|
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||||||||
|
RevPAR
|
|
Occupancy
|
|
ADR
|
|||||||||||||||||||||||||||||||
|
2016
|
|
2015
|
|
Better /
(Worse) |
|
Better / (Worse) Constant $
|
|
2016
|
|
2015
|
|
Change in
Occ % pts
|
|
2016
|
|
2015
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
|||||||||||||||
Comparable owned and leased hotels
|
$
|
170
|
|
|
$
|
168
|
|
|
1.2
|
%
|
|
2.2
|
%
|
|
76.7
|
%
|
|
76.1
|
%
|
|
0.6
|
%
|
|
$
|
222
|
|
|
$
|
221
|
|
|
0.3
|
%
|
|
1.4
|
%
|
•
|
the opening of Grand Hyatt Rio de Janeiro in 2016;
|
•
|
the dispositions of Andaz 5th Avenue and Hyatt Regency Birmingham (U.K.) in 2016.
|
|
Year Ended December 31,
|
|||||||||||||||||
|
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)
|
|
Better / (Worse) Constant $
|
|
2015
|
|
2014
|
|
Change in
Occ % pts
|
|
2015
|
|
2014
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
|||||||||||||||
Comparable owned and leased hotels
|
$
|
167
|
|
|
$
|
163
|
|
|
2.4
|
%
|
|
5.4
|
%
|
|
76.6
|
%
|
|
76.0
|
%
|
|
0.6
|
%
|
|
$
|
218
|
|
|
$
|
214
|
|
|
1.6
|
%
|
|
4.6
|
%
|
•
|
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,
|
||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
Better / (Worse)
2016 vs 2015
|
|
Better / (Worse)
2015 vs 2014 |
||||||||||||||||
Owned and leased hotels Adjusted EBITDA
|
$
|
416
|
|
|
$
|
413
|
|
|
$
|
443
|
|
|
$
|
3
|
|
|
0.7
|
%
|
|
$
|
(30
|
)
|
|
(6.8
|
)%
|
Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA
|
100
|
|
|
80
|
|
|
80
|
|
|
20
|
|
|
25.0
|
%
|
|
—
|
|
|
—
|
%
|
|||||
Segment Adjusted EBITDA
|
$
|
516
|
|
|
$
|
493
|
|
|
$
|
523
|
|
|
$
|
23
|
|
|
4.7
|
%
|
|
$
|
(30
|
)
|
|
(5.7
|
)%
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
Better / (Worse)
2016 vs 2015
|
|
Better / (Worse)
2015 vs 2014
|
||||||||||||||||
Segment revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Management, franchise and other fees
|
$
|
371
|
|
|
$
|
354
|
|
|
$
|
327
|
|
|
$
|
17
|
|
|
4.8
|
%
|
|
$
|
27
|
|
|
8.3
|
%
|
Other revenues from managed properties
|
1,670
|
|
|
1,641
|
|
|
1,550
|
|
|
29
|
|
|
1.8
|
%
|
|
91
|
|
|
5.9
|
%
|
|||||
Total segment revenues
|
$
|
2,041
|
|
|
$
|
1,995
|
|
|
$
|
1,877
|
|
|
$
|
46
|
|
|
2.3
|
%
|
|
$
|
118
|
|
|
6.3
|
%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||||||||
2016
|
|
2015
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
|
2016
|
|
2015
|
|
Change in
Occ % pts
|
|
2016
|
|
2015
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
||||||||||||||||
Americas full service
|
$
|
151
|
|
|
$
|
148
|
|
|
2.3
|
%
|
|
2.8
|
%
|
|
75.3
|
%
|
|
75.5
|
%
|
|
(0.2
|
)%
|
|
$
|
200
|
|
|
$
|
195
|
|
|
2.5
|
%
|
|
3.1
|
%
|
Americas select service
|
104
|
|
|
99
|
|
|
5.3
|
%
|
|
5.4
|
%
|
|
78.1
|
%
|
|
76.7
|
%
|
|
1.4
|
%
|
|
134
|
|
|
129
|
|
|
3.4
|
%
|
|
3.4
|
%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||||||||
2015
|
|
2014
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
|
2015
|
|
2014
|
|
Change in
Occ % pts
|
|
2015
|
|
2014
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
||||||||||||||||
Americas full service
|
$
|
147
|
|
|
$
|
140
|
|
|
5.5
|
%
|
|
6.6
|
%
|
|
75.6
|
%
|
|
74.7
|
%
|
|
0.9
|
%
|
|
$
|
195
|
|
|
$
|
187
|
|
|
4.1
|
%
|
|
5.2
|
%
|
Americas select service
|
100
|
|
|
93
|
|
|
7.7
|
%
|
|
7.7
|
%
|
|
77.7
|
%
|
|
76.5
|
%
|
|
1.2
|
%
|
|
128
|
|
|
121
|
|
|
6.0
|
%
|
|
6.0
|
%
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
Better / (Worse)
2016 vs 2015
|
|
Better / (Worse)
2015 vs 2014
|
||||||||||||||||
Segment revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Management, franchise and other fees
|
$
|
96
|
|
|
$
|
91
|
|
|
$
|
88
|
|
|
$
|
5
|
|
|
5.5
|
%
|
|
$
|
3
|
|
|
3.4
|
%
|
Other revenues from managed properties
|
98
|
|
|
87
|
|
|
74
|
|
|
11
|
|
|
12.6
|
%
|
|
13
|
|
|
17.6
|
%
|
|||||
Total segment revenues
|
$
|
194
|
|
|
$
|
178
|
|
|
$
|
162
|
|
|
$
|
16
|
|
|
9.0
|
%
|
|
$
|
16
|
|
|
9.9
|
%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||||||||
2016
|
|
2015
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
|
2016
|
|
2015
|
|
Change in
Occ % pts
|
|
2016
|
|
2015
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
||||||||||||||||
ASPAC full service
|
$
|
147
|
|
|
$
|
145
|
|
|
1.9
|
%
|
|
2.2
|
%
|
|
70.8
|
%
|
|
67.9
|
%
|
|
2.9
|
%
|
|
$
|
208
|
|
|
$
|
213
|
|
|
(2.3
|
)%
|
|
(2.0
|
)%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||||||||
2015
|
|
2014
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
|
2015
|
|
2014
|
|
Change in
Occ % pts
|
|
2015
|
|
2014
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
||||||||||||||||
ASPAC full service
|
$
|
151
|
|
|
$
|
157
|
|
|
(3.5
|
)%
|
|
3.3
|
%
|
|
70.3
|
%
|
|
68.2
|
%
|
|
2.1
|
%
|
|
$
|
215
|
|
|
$
|
230
|
|
|
(6.3
|
)%
|
|
0.3
|
%
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
Better / (Worse)
2016 vs 2015
|
|
Better / (Worse)
2015 vs 2014
|
||||||||||||||||
Segment revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Management, franchise and other fees
|
$
|
65
|
|
|
$
|
67
|
|
|
$
|
77
|
|
|
$
|
(2
|
)
|
|
(3.0
|
)%
|
|
$
|
(10
|
)
|
|
(13.0
|
)%
|
Other revenues from managed properties
|
65
|
|
|
58
|
|
|
53
|
|
|
7
|
|
|
12.1
|
%
|
|
5
|
|
|
9.4
|
%
|
|||||
Total segment revenues
|
$
|
130
|
|
|
$
|
125
|
|
|
$
|
130
|
|
|
$
|
5
|
|
|
4.0
|
%
|
|
$
|
(5
|
)
|
|
(3.8
|
)%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||||||||
2016
|
|
2015
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
|
2016
|
|
2015
|
|
Change in
Occ % pts
|
|
2016
|
|
2015
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
||||||||||||||||
EAME/SW Asia full service
|
$
|
119
|
|
|
$
|
129
|
|
|
(7.6
|
)%
|
|
(4.6
|
)%
|
|
63.4
|
%
|
|
63.5
|
%
|
|
(0.1
|
)%
|
|
$
|
188
|
|
|
$
|
203
|
|
|
(7.5
|
)%
|
|
(4.4
|
)%
|
EAME/SW Asia select service
|
$
|
70
|
|
|
$
|
65
|
|
|
8.6
|
%
|
|
9.4
|
%
|
|
71.9
|
%
|
|
64.3
|
%
|
|
7.6
|
%
|
|
$
|
98
|
|
|
$
|
100
|
|
|
(2.8
|
)%
|
|
(2.1
|
)%
|
(Comparable Systemwide Hotels)
|
Year Ended December 31,
|
|||||||||||||||||||||||||||||||||||
RevPAR
|
|
Occupancy
|
|
ADR
|
||||||||||||||||||||||||||||||||
2015
|
|
2014
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
|
2015
|
|
2014
|
|
Change in
Occ % pts
|
|
2015
|
|
2014
|
|
Better /
(Worse)
|
|
Better / (Worse) Constant $
|
||||||||||||||||
EAME/SW Asia full service
|
$
|
136
|
|
|
$
|
152
|
|
|
(10.3
|
)%
|
|
0.8
|
%
|
|
65.6
|
%
|
|
65.4
|
%
|
|
0.2
|
%
|
|
$
|
207
|
|
|
$
|
231
|
|
|
(10.6
|
)%
|
|
0.5
|
%
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
2016
|
|
2015
|
|
2014
|
|
Better / (Worse)
2016 vs 2015
|
|
Better / (Worse)
2015 vs 2014
|
|||||||||||||||||
Corporate and other revenues
|
$
|
43
|
|
|
$
|
40
|
|
|
$
|
105
|
|
|
$
|
3
|
|
|
7.5
|
%
|
|
$
|
(65
|
)
|
|
(61.9
|
)%
|
Corporate and other Adjusted EBITDA
|
$
|
(139
|
)
|
|
$
|
(131
|
)
|
|
$
|
(103
|
)
|
|
$
|
(8
|
)
|
|
(6.1
|
)%
|
|
$
|
(28
|
)
|
|
(27.2
|
)%
|
|
Year Ended December 31,
|
||||||||||||||||||||||||
2016
|
|
2015
|
|
2014
|
|
Change
2016 vs 2015 |
|
Change
2015 vs 2014 |
|||||||||||||||||
Net income attributable to Hyatt Hotels Corporation
|
$
|
204
|
|
|
$
|
124
|
|
|
$
|
344
|
|
|
$
|
80
|
|
|
64.5
|
%
|
|
$
|
(220
|
)
|
|
(64.0
|
)%
|
Interest expense
|
76
|
|
|
68
|
|
|
71
|
|
|
8
|
|
|
11.8
|
%
|
|
(3
|
)
|
|
(4.2
|
)%
|
|||||
Provision for income taxes
|
85
|
|
|
70
|
|
|
179
|
|
|
15
|
|
|
21.4
|
%
|
|
(109
|
)
|
|
(60.9
|
)%
|
|||||
Depreciation and amortization
|
342
|
|
|
320
|
|
|
354
|
|
|
22
|
|
|
6.9
|
%
|
|
(34
|
)
|
|
(9.6
|
)%
|
|||||
EBITDA
|
707
|
|
|
582
|
|
|
948
|
|
|
125
|
|
|
21.5
|
%
|
|
(366
|
)
|
|
(38.6
|
)%
|
|||||
Equity (earnings) losses from unconsolidated hospitality ventures
|
(68
|
)
|
|
64
|
|
|
(25
|
)
|
|
(132
|
)
|
|
(206.3
|
)%
|
|
89
|
|
|
356.0
|
%
|
|||||
Stock-based compensation expense
|
25
|
|
|
23
|
|
|
49
|
|
|
2
|
|
|
8.7
|
%
|
|
(26
|
)
|
|
(53.1
|
)%
|
|||||
(Gains) losses on sales of real estate and other
|
23
|
|
|
(9
|
)
|
|
(311
|
)
|
|
32
|
|
|
355.6
|
%
|
|
302
|
|
|
97.1
|
%
|
|||||
Asset impairments
|
—
|
|
|
5
|
|
|
17
|
|
|
(5
|
)
|
|
(100.0
|
)%
|
|
(12
|
)
|
|
(70.6
|
)%
|
|||||
Other (income) loss, net
|
(2
|
)
|
|
5
|
|
|
17
|
|
|
(7
|
)
|
|
(140.0
|
)%
|
|
(12
|
)
|
|
(70.6
|
)%
|
|||||
Net income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
%
|
|
(2
|
)
|
|
(100.0
|
)%
|
|||||
Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA
|
100
|
|
|
80
|
|
|
80
|
|
|
20
|
|
|
25.0
|
%
|
|
—
|
|
|
—
|
%
|
|||||
Adjusted EBITDA
|
$
|
785
|
|
|
$
|
750
|
|
|
$
|
777
|
|
|
$
|
35
|
|
|
4.7
|
%
|
|
$
|
(27
|
)
|
|
(3.5
|
)%
|
|
Year Ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
Cash provided by (used in):
|
|
|
|
|
|
||||||
Operating activities
|
$
|
489
|
|
|
$
|
538
|
|
|
$
|
473
|
|
Investing activities
|
(380
|
)
|
|
(47
|
)
|
|
373
|
|
|||
Financing activities
|
(96
|
)
|
|
(715
|
)
|
|
(607
|
)
|
|||
Effect of exchange rate changes on cash
|
12
|
|
|
(4
|
)
|
|
(8
|
)
|
|||
Net increase (decrease) in cash and cash equivalents
|
$
|
25
|
|
|
$
|
(228
|
)
|
|
$
|
231
|
|
•
|
We acquired Thompson Miami Beach for approximately
$238 million
.
|
•
|
Capital expenditures were $
211 million
(see "—Capital Expenditures" below).
|
•
|
We purchased our partners' interest in Andaz Maui at Wailea Resort and villas for
$136 million
, net of cash acquired. Additionally, prior to the acquisition we contributed $71 million to the unconsolidated hospitality venture and provided $37 million of financing receivables to our partners to repay the venture's third-party debt. Our partners repaid the financing receivables during 2016.
|
•
|
We invested
$33 million
in unconsolidated hospitality ventures, excluding our contribution to Andaz Maui at Wailea Resort and villas discussed above.
|
•
|
We acquired Royal Palms Resort and Spa for a net purchase price of approximately
$86 million
.
|
•
|
We acquired land for
$25 million
for future development in Philadelphia.
|
•
|
We sold Andaz 5th Avenue for approximately
$240 million
, net of closing costs and proration adjustments.
|
•
|
We received distributions of
$132 million
from unconsolidated hospitality ventures.
|
•
|
We sold the shares of the company that owns Hyatt Regency Birmingham (U.K.) for approximately
$49 million
, net of closing costs and proration adjustments.
|
•
|
We released $29 million from restricted cash related to the finalization from the Canada Revenue Agency in connection with the 2014 disposition of Park Hyatt Toronto.
|
•
|
Capital expenditures were
$269 million
(see "—Capital Expenditures" below).
|
•
|
We had net purchases of $121 million of marketable securities and short-term investments related to Hyatt Gold Passport and our captive insurance companies.
|
•
|
We invested a total of $37 million in investments which includes $35 million in unconsolidated hospitality ventures.
|
•
|
We released
$143 million
from escrow to cash and cash equivalents related to release of proceeds from like-kind exchanges.
|
•
|
We received net proceeds of $100 million from the maturity of time deposits.
|
•
|
We sold Hyatt Regency Indianapolis for approximately $69 million.
|
•
|
We received proceeds of $28 million from financing receivables.
|
•
|
We released $19 million from restricted cash related to the development of a hotel in Brazil.
|
•
|
Two unconsolidated hospitality ventures in which we hold or held ownership interests and are classified as equity method investments sold two select service properties to third parties for total proceeds of $16 million.
|
•
|
We sold land and construction in progress for approximately $14 million.
|
•
|
We sold a Hyatt House hotel for approximately $5 million.
|
•
|
We sold a portfolio of 38 select service properties for approximately $581 million.
|
•
|
We sold nine select service properties and one full service property for $310 million, net of closing costs and cash transferred.
|
•
|
We sold Hyatt Residential Group for net proceeds of $220 million, which includes an interest in a joint venture that owns a vacation ownership property in Maui, Hawaii, as well as a full service hotel.
|
•
|
We sold two full service properties in Canada for a net total of $204 million, of which $87 million was classified as restricted cash pending clearance from the Canada Revenue Agency pursuant to Withholding Tax Escrow Agreements.
|
•
|
We sold Park Hyatt Washington for approximately $97 million.
|
•
|
We released $74 million from restricted cash in conjunction with the 2013 sale of Hyatt Key West.
|
•
|
We received proceeds of $56 million, which primarily related to two mezzanine loan receivables.
|
•
|
We sold five Hyatt Place properties for $51 million.
|
•
|
Four unconsolidated hospitality ventures in which we held ownership interests and that are classified as equity method investments sold four properties to third parties for $64 million, of which $30 million related to investing activities.
|
•
|
We acquired Park Hyatt New York for $391 million, net of acquired cash of $1 million.
|
•
|
Capital expenditures were
$253 million
(see "—Capital Expenditures" below).
|
•
|
We acquired Hyatt Regency Lost Pines Resort and Spa and adjacent land from an unconsolidated hospitality venture in which we hold an 8.2% interest for
$157 million
, net of acquired cash and cash equivalents of
$7 million
.
|
•
|
We purchased a net total of $101 million of marketable securities and short-term investments.
|
•
|
We invested a total of $114 million in investments which includes $98 million in unconsolidated hospitality ventures.
|
|
|
|
|
||||
|
December 31, 2016
|
|
December 31, 2015
|
||||
Consolidated debt (1)
|
$
|
1,564
|
|
|
$
|
1,370
|
|
Stockholders’ equity
|
3,903
|
|
|
3,991
|
|
||
Total capital
|
5,467
|
|
|
5,361
|
|
||
Total debt to total capital
|
28.6
|
%
|
|
25.6
|
%
|
||
Consolidated debt (1)
|
1,564
|
|
|
1,370
|
|
||
Less: Cash and cash equivalents and short-term investments
|
538
|
|
|
503
|
|
||
Net consolidated debt
|
1,026
|
|
|
867
|
|
||
Net debt to total capital
|
18.8
|
%
|
|
16.2
|
%
|
(1)
|
Excludes approximately
$745 million
and $692 million of our share of unconsolidated hospitality venture indebtedness at
December 31, 2016
and
December 31, 2015
, respectively, substantially all of which is non-recourse to us and a portion of which we guarantee pursuant to separate agreements. In the event our investment in Playa is no longer accounted for under the equity method as discussed in Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations—Results of Operations" our share of unconsolidated hospitality venture indebtedness would decrease by approximately $200 million.
|
|
Year Ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
Maintenance
|
$
|
68
|
|
|
$
|
110
|
|
|
$
|
102
|
|
Enhancements to existing properties
|
72
|
|
|
59
|
|
|
72
|
|
|||
Investment in new properties
|
71
|
|
|
100
|
|
|
79
|
|
|||
Total capital expenditures
|
$
|
211
|
|
|
$
|
269
|
|
|
$
|
253
|
|
Description
|
|
Principal
Amount
|
||
6.875% Senior Notes due 2019
|
|
$
|
196
|
|
5.375% Senior Notes due 2021
|
|
250
|
|
|
3.375% Senior Notes due 2023
|
|
350
|
|
|
4.850% Senior Notes due 2026
|
|
400
|
|
|
Total
|
|
$
|
1,196
|
|
•
|
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.
|
|
|
|
Payments Due by Period
|
||||||||||||||||||||||||
Total
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|||||||||||||||
Debt (1)
|
$
|
2,101
|
|
|
$
|
191
|
|
|
$
|
90
|
|
|
$
|
285
|
|
|
$
|
74
|
|
|
$
|
323
|
|
|
$
|
1,138
|
|
Capital lease obligations (1)
|
20
|
|
|
2
|
|
|
3
|
|
|
3
|
|
|
2
|
|
|
2
|
|
|
8
|
|
|||||||
Operating lease obligations
|
614
|
|
|
41
|
|
|
35
|
|
|
39
|
|
|
29
|
|
|
26
|
|
|
444
|
|
|||||||
Purchase obligations
|
79
|
|
|
79
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Other long-term liabilities (2)
|
375
|
|
|
2
|
|
|
2
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
368
|
|
|||||||
Total contractual obligations
|
$
|
3,189
|
|
|
$
|
315
|
|
|
$
|
130
|
|
|
$
|
328
|
|
|
$
|
106
|
|
|
$
|
352
|
|
|
$
|
1,958
|
|
(1)
|
Includes principal as well as interest payments. Assumes constant foreign exchange rates at
December 31, 2016
for floating rate debt and international debt.
|
(2)
|
Primarily consists of deferred compensation plan liabilities. Excludes
$100 million
in long-term tax positions due to the uncertainty related to the timing of the reversal of those positions.
|
|
|
|
Amount of Guarantee Commitments Expiration by Period
|
||||||||||||||||||||||||
Total Amounts Committed
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|||||||||||||||
Performance guarantees (1)
|
$
|
346
|
|
|
$
|
84
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
234
|
|
|
$
|
—
|
|
|
$
|
28
|
|
Debt repayment guarantees (2)
|
576
|
|
|
33
|
|
|
—
|
|
|
25
|
|
|
493
|
|
|
25
|
|
|
—
|
|
|||||||
Total guarantee commitments
|
$
|
922
|
|
|
$
|
117
|
|
|
$
|
—
|
|
|
$
|
25
|
|
|
$
|
727
|
|
|
$
|
25
|
|
|
$
|
28
|
|
(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 related to our unconsolidated hospitality ventures and certain managed hotels. 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 we have agreements with either our unconsolidated hospitality venture partner, the respective hotel owners or other third parties which reduce our maximum guarantee which are not reflected in the table above.
|
|
|
|
Amount of Investment Commitments Expected Funding by Period
|
||||||||||||||||||||||||
Total Amounts Committed
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|||||||||||||||
Investment commitments
|
$
|
378
|
|
|
$
|
137
|
|
|
$
|
194
|
|
|
$
|
29
|
|
|
$
|
1
|
|
|
$
|
1
|
|
|
$
|
16
|
|
|
Maturities by Period
|
|
|
|
|
||||||||||||||||||||||||||
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|
Total Carrying Amount
|
|
Total Fair Value
|
||||||||||||||||
Fixed-rate debt (1)
|
$
|
4
|
|
|
$
|
4
|
|
|
$
|
200
|
|
|
$
|
5
|
|
|
$
|
255
|
|
|
$
|
918
|
|
|
$
|
1,386
|
|
|
$
|
1,450
|
|
Average interest rate (2)
|
|
|
|
|
|
|
|
|
|
|
|
|
4.89
|
%
|
|
|
|||||||||||||||
Floating-rate debt (3)
|
$
|
113
|
|
|
$
|
13
|
|
|
$
|
13
|
|
|
$
|
13
|
|
|
$
|
13
|
|
|
$
|
14
|
|
|
$
|
179
|
|
|
$
|
192
|
|
Average interest rate (2)
|
|
|
|
|
|
|
|
|
|
|
|
|
4.95
|
%
|
|
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Pound sterling
|
$
|
122
|
|
|
$
|
170
|
|
Korean won
|
35
|
|
|
33
|
|
||
Canadian dollar
|
32
|
|
|
61
|
|
||
Swiss franc
|
15
|
|
|
9
|
|
||
Indian rupee
|
—
|
|
|
27
|
|
||
Brazilian real
|
—
|
|
|
4
|
|
||
Total notional amount of forward contracts
|
$
|
204
|
|
|
$
|
304
|
|
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
|
|
6,050,863
|
|
(1)
|
|
$47.82
|
(2)
|
|
5,178,082
|
|
(3)
|
|
Equity Compensation Plans Not Approved by Security Holders
|
|
—
|
|
|
|
—
|
|
|
|
1,469,195
|
|
(4)
|
Total
|
|
6,050,863
|
|
|
|
$47.82
|
|
|
6,647,277
|
|
|
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
|
Item 16.
|
Form 10-K Summary.
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
By:
|
/s/ Mark S. Hoplamazian
|
|
|
Mark S. Hoplamazian
|
|
|
President and Chief Executive Officer
|
|
|
|
Date: February 16, 2017
|
|
|
Signature
|
Titles
|
Date
|
|
|
|
/s/ Mark S. Hoplamazian
|
President, Chief Executive Officer and Director (Principal Executive Officer)
|
February 16, 2017
|
Mark S. Hoplamazian
|
||
/s/ Patrick J. Grismer
|
Executive Vice President, Chief Financial Officer (Principal Financial Officer)
|
February 16, 2017
|
Patrick J. Grismer
|
||
/s/ Bradley O'Bryan
|
Senior Vice President, Corporate Controller (Principal Accounting Officer)
|
February 16, 2017
|
Bradley O'Bryan
|
||
/s/ Thomas J. Pritzker
|
Executive Chairman of the Board
|
February 16, 2017
|
Thomas J. Pritzker
|
|
|
/s/ Richard A. Friedman
|
Director
|
February 16, 2017
|
Richard A. Friedman
|
|
|
/s/ Susan D. Kronick
|
Director
|
February 16, 2017
|
Susan D. Kronick
|
|
|
/s/ Mackey J. McDonald
|
Director
|
February 16, 2017
|
Mackey J. McDonald
|
|
|
/s/ Cary D. McMillan
|
Director
|
February 16, 2017
|
Cary D. McMillan
|
|
|
/s/ Pamela M. Nicholson
|
Director
|
February 16, 2017
|
Pamela M. Nicholson
|
|
|
/s/ Jason Pritzker
|
Director
|
February 16, 2017
|
Jason Pritzker
|
|
|
/s/ Michael A. Rocca
|
Director
|
February 16, 2017
|
Michael A. Rocca
|
|
|
/s/ Richard C. Tuttle
|
Director
|
February 16, 2017
|
Richard C. Tuttle
|
|
|
/s/ James H. Wooten, Jr.
|
Director
|
February 16, 2017
|
James H. Wooten, Jr.
|
|
|
/s/ William Wrigley, Jr.
|
Director
|
February 16, 2017
|
William Wrigley, Jr.
|
|
/s/ Mark S. Hoplamazian
|
Mark S. Hoplamazian
President & Chief Executive Officer
|
/s/ Patrick J. Grismer
|
Patrick J. Grismer
Executive Vice President, Chief Financial Officer
|
|
2016
|
|
2015
|
|
2014
|
||||||
REVENUES:
|
|
|
|
|
|
||||||
Owned and leased hotels
|
$
|
2,108
|
|
|
$
|
2,079
|
|
|
$
|
2,246
|
|
Management and franchise fees
|
448
|
|
|
427
|
|
|
387
|
|
|||
Other revenues
|
40
|
|
|
36
|
|
|
75
|
|
|||
Other revenues from managed properties
|
1,833
|
|
|
1,786
|
|
|
1,707
|
|
|||
Total revenues
|
4,429
|
|
|
4,328
|
|
|
4,415
|
|
|||
DIRECT AND SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES:
|
|
|
|
|
|
||||||
Owned and leased hotels
|
1,610
|
|
|
1,562
|
|
|
1,691
|
|
|||
Depreciation and amortization
|
342
|
|
|
320
|
|
|
354
|
|
|||
Other direct costs
|
30
|
|
|
29
|
|
|
35
|
|
|||
Selling, general, and administrative
|
315
|
|
|
308
|
|
|
349
|
|
|||
Other costs from managed properties
|
1,833
|
|
|
1,786
|
|
|
1,707
|
|
|||
Direct and selling, general, and administrative expenses
|
4,130
|
|
|
4,005
|
|
|
4,136
|
|
|||
Net gains and interest income from marketable securities held to fund operating programs
|
19
|
|
|
4
|
|
|
15
|
|
|||
Equity earnings (losses) from unconsolidated hospitality ventures
|
68
|
|
|
(64
|
)
|
|
25
|
|
|||
Interest expense
|
(76
|
)
|
|
(68
|
)
|
|
(71
|
)
|
|||
Gains (losses) on sales of real estate and other
|
(23
|
)
|
|
9
|
|
|
311
|
|
|||
Asset impairments
|
—
|
|
|
(5
|
)
|
|
(17
|
)
|
|||
Other income (loss), net
|
2
|
|
|
(5
|
)
|
|
(17
|
)
|
|||
INCOME BEFORE INCOME TAXES
|
289
|
|
|
194
|
|
|
525
|
|
|||
PROVISION FOR INCOME TAXES
|
(85
|
)
|
|
(70
|
)
|
|
(179
|
)
|
|||
NET INCOME
|
204
|
|
|
124
|
|
|
346
|
|
|||
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
|
—
|
|
|
—
|
|
|
(2
|
)
|
|||
NET INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION
|
$
|
204
|
|
|
$
|
124
|
|
|
$
|
344
|
|
EARNINGS PER SHARE—Basic
|
|
|
|
|
|
||||||
Net income
|
$
|
1.53
|
|
|
$
|
0.87
|
|
|
$
|
2.26
|
|
Net income attributable to Hyatt Hotels Corporation
|
$
|
1.53
|
|
|
$
|
0.87
|
|
|
$
|
2.25
|
|
EARNINGS PER SHARE—Diluted
|
|
|
|
|
|
||||||
Net income
|
$
|
1.52
|
|
|
$
|
0.86
|
|
|
$
|
2.24
|
|
Net income attributable to Hyatt Hotels Corporation
|
$
|
1.52
|
|
|
$
|
0.86
|
|
|
$
|
2.23
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
Net income
|
$
|
204
|
|
|
$
|
124
|
|
|
$
|
346
|
|
Other comprehensive income (loss), net of taxes:
|
|
|
|
|
|
||||||
Foreign currency translation adjustments, net of tax (benefit) expense of $-, $(2), and $1 for the years ended December 31, 2016, December 31, 2015, and December 31, 2014, respectively
|
(42
|
)
|
|
(102
|
)
|
|
(93
|
)
|
|||
Unrealized gains (losses) on available-for-sale securities, net of tax (benefit) expense of $(4), $21, and $2 for the years ended December 31, 2016, December 31, 2015, and December 31, 2014, respectively
|
(6
|
)
|
|
33
|
|
|
—
|
|
|||
Unrecognized pension cost, net of tax benefit of $-, $-, and $(1) for the years ended December 31, 2016, December 31, 2015, and December 31, 2014, respectively
|
—
|
|
|
(2
|
)
|
|
—
|
|
|||
Unrealized gains on derivative activity, net of tax expense of $1, $1, and $1 for the years ended December 31, 2016, December 31, 2015, and December 31, 2014, respectively
|
1
|
|
|
1
|
|
|
1
|
|
|||
Other comprehensive loss
|
(47
|
)
|
|
(70
|
)
|
|
(92
|
)
|
|||
COMPREHENSIVE INCOME
|
157
|
|
|
54
|
|
|
254
|
|
|||
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
|
—
|
|
|
—
|
|
|
(2
|
)
|
|||
COMPREHENSIVE INCOME ATTRIBUTABLE TO HYATT HOTELS CORPORATION
|
$
|
157
|
|
|
$
|
54
|
|
|
$
|
252
|
|
|
2016
|
|
2015
|
||||
ASSETS
|
|
|
|
||||
CURRENT ASSETS:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
482
|
|
|
$
|
457
|
|
Restricted cash
|
76
|
|
|
96
|
|
||
Short-term investments
|
56
|
|
|
46
|
|
||
Receivables, net of allowances of $18 and $15 at December 31, 2016 and December 31, 2015, respectively
|
304
|
|
|
298
|
|
||
Inventories
|
28
|
|
|
12
|
|
||
Prepaids and other assets
|
153
|
|
|
152
|
|
||
Prepaid income taxes
|
40
|
|
|
63
|
|
||
Total current assets
|
1,139
|
|
|
1,124
|
|
||
Investments
|
186
|
|
|
327
|
|
||
Property and equipment, net
|
4,270
|
|
|
4,031
|
|
||
Financing receivables, net of allowances
|
19
|
|
|
20
|
|
||
Goodwill
|
125
|
|
|
129
|
|
||
Intangibles, net
|
599
|
|
|
547
|
|
||
Deferred tax assets
|
313
|
|
|
301
|
|
||
Other assets
|
1,098
|
|
|
1,112
|
|
||
TOTAL ASSETS
|
$
|
7,749
|
|
|
$
|
7,591
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
CURRENT LIABILITIES:
|
|
|
|
||||
Current maturities of long-term debt
|
$
|
119
|
|
|
$
|
328
|
|
Accounts payable
|
162
|
|
|
141
|
|
||
Accrued expenses and other current liabilities
|
514
|
|
|
516
|
|
||
Accrued compensation and benefits
|
129
|
|
|
122
|
|
||
Total current liabilities
|
924
|
|
|
1,107
|
|
||
Long-term debt
|
1,445
|
|
|
1,042
|
|
||
Other long-term liabilities
|
1,472
|
|
|
1,447
|
|
||
Total liabilities
|
3,841
|
|
|
3,596
|
|
||
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, 2016 and December 31, 2015
|
—
|
|
|
—
|
|
||
Class A common stock, $0.01 par value per share, 1,000,000,000 shares authorized, 39,952,061 issued and outstanding at December 31, 2016, Class B common stock, $0.01 par value per share, 422,857,621 shares authorized, 90,863,209 shares issued and outstanding at December 31, 2016. 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
|
1
|
|
|
1
|
|
||
Additional paid-in capital
|
1,686
|
|
|
1,931
|
|
||
Retained earnings
|
2,493
|
|
|
2,289
|
|
||
Accumulated other comprehensive loss
|
(277
|
)
|
|
(230
|
)
|
||
Total stockholders’ equity
|
3,903
|
|
|
3,991
|
|
||
Noncontrolling interests in consolidated subsidiaries
|
5
|
|
|
4
|
|
||
Total equity
|
3,908
|
|
|
3,995
|
|
||
TOTAL LIABILITIES AND EQUITY
|
$
|
7,749
|
|
|
$
|
7,591
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
|
|
||||||
Net income
|
$
|
204
|
|
|
$
|
124
|
|
|
$
|
346
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
342
|
|
|
320
|
|
|
354
|
|
|||
Amortization of share awards
|
26
|
|
|
26
|
|
|
52
|
|
|||
Deferred income taxes
|
(3
|
)
|
|
(103
|
)
|
|
(28
|
)
|
|||
Equity (earnings) losses from unconsolidated hospitality ventures and distributions received
|
(33
|
)
|
|
100
|
|
|
54
|
|
|||
(Gains) losses on sales of real estate and other
|
23
|
|
|
(9
|
)
|
|
(311
|
)
|
|||
Other
|
(38
|
)
|
|
55
|
|
|
(18
|
)
|
|||
Increase (decrease) in cash attributable to changes in assets and liabilities:
|
|
|
|
|
|
||||||
Restricted cash
|
(4
|
)
|
|
78
|
|
|
(18
|
)
|
|||
Receivables, net
|
(14
|
)
|
|
29
|
|
|
(28
|
)
|
|||
Inventories
|
2
|
|
|
1
|
|
|
8
|
|
|||
Prepaid income taxes
|
21
|
|
|
(16
|
)
|
|
(53
|
)
|
|||
Accounts payable, accrued expenses and other current liabilities
|
7
|
|
|
(7
|
)
|
|
186
|
|
|||
Accrued compensation and benefits
|
7
|
|
|
5
|
|
|
(9
|
)
|
|||
Other long-term liabilities
|
10
|
|
|
1
|
|
|
(19
|
)
|
|||
Other, net
|
(61
|
)
|
|
(66
|
)
|
|
(43
|
)
|
|||
Net cash provided by operating activities
|
489
|
|
|
538
|
|
|
473
|
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
|
|
|
|
|
|
||||||
Purchases of marketable securities and short-term investments
|
|
$
|
(464
|
)
|
|
$
|
(530
|
)
|
|
$
|
(421
|
)
|
Proceeds from marketable securities and short-term investments
|
|
457
|
|
|
521
|
|
|
320
|
|
|||
Contributions to investments
|
|
(107
|
)
|
|
(37
|
)
|
|
(114
|
)
|
|||
Return of investments
|
|
132
|
|
|
19
|
|
|
57
|
|
|||
Acquisitions, net of cash acquired
|
|
(492
|
)
|
|
(3
|
)
|
|
(548
|
)
|
|||
Capital expenditures
|
|
(211
|
)
|
|
(269
|
)
|
|
(253
|
)
|
|||
Issuance of financing receivables
|
|
(38
|
)
|
|
(8
|
)
|
|
(5
|
)
|
|||
Proceeds from financing receivables
|
|
38
|
|
|
28
|
|
|
56
|
|
|||
Proceeds from sales of real estate and other, net of cash disposed
|
|
289
|
|
|
88
|
|
|
1,467
|
|
|||
Sales proceeds transferred to escrow as restricted cash
|
|
—
|
|
|
—
|
|
|
(870
|
)
|
|||
Sales proceeds transferred from escrow to cash and cash equivalents
|
|
29
|
|
|
143
|
|
|
714
|
|
|||
(Increase) decrease in restricted cash
|
|
(6
|
)
|
|
19
|
|
|
(8
|
)
|
|||
Other investing activities
|
|
(7
|
)
|
|
(18
|
)
|
|
(22
|
)
|
|||
Net cash (used in) provided by investing activities
|
|
(380
|
)
|
|
(47
|
)
|
|
373
|
|
|||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
|
|
|
|
|
|
||||||
Proceeds from long-term debt, net of issuance costs of $4, $-, and $-, respectively
|
|
620
|
|
|
12
|
|
|
249
|
|
|||
Repayments of long-term debt
|
|
(438
|
)
|
|
(5
|
)
|
|
(208
|
)
|
|||
Repurchase of common stock
|
|
(272
|
)
|
|
(715
|
)
|
|
(443
|
)
|
|||
Repayment of capital lease obligation
|
|
—
|
|
|
—
|
|
|
(191
|
)
|
|||
Other financing activities
|
|
(6
|
)
|
|
(7
|
)
|
|
(14
|
)
|
|||
Net cash used in financing activities
|
|
(96
|
)
|
|
(715
|
)
|
|
(607
|
)
|
|||
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
|
|
12
|
|
|
(4
|
)
|
|
(8
|
)
|
|||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
|
|
25
|
|
|
(228
|
)
|
|
231
|
|
|||
CASH AND CASH EQUIVALENTS—BEGINNING OF YEAR
|
|
457
|
|
|
685
|
|
|
454
|
|
|||
CASH AND CASH EQUIVALENTS—END OF PERIOD
|
|
$
|
482
|
|
|
$
|
457
|
|
|
$
|
685
|
|
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
|
|
|
|
|
|
|
||||||
Cash paid during the period for interest
|
|
$
|
75
|
|
|
$
|
69
|
|
|
$
|
71
|
|
Cash paid during the period for income taxes
|
|
$
|
95
|
|
|
$
|
145
|
|
|
$
|
267
|
|
Non-cash investing and financing activities are as follows:
|
|
|
|
|
|
|
||||||
Non-cash contributions to investments
|
|
$
|
13
|
|
|
$
|
17
|
|
|
$
|
—
|
|
Non-cash management and franchise agreement intangibles
|
|
$
|
47
|
|
|
$
|
3
|
|
|
$
|
—
|
|
Change in accrued capital expenditures
|
|
$
|
2
|
|
|
$
|
6
|
|
|
$
|
4
|
|
|
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, 2014
|
$
|
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
|
|
Total comprehensive income
|
157
|
|
|
—
|
|
|
—
|
|
|
204
|
|
|
—
|
|
|
(47
|
)
|
|
—
|
|
|||||||
Contributions from noncontrolling interests
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|||||||
Repurchase of common stock
|
(272
|
)
|
|
—
|
|
|
(272
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Directors compensation
|
2
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Employee stock plan issuance
|
3
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Share-based payment activity
|
22
|
|
|
—
|
|
|
22
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
BALANCE—December 31, 2016
|
$
|
3,908
|
|
|
$
|
1
|
|
|
$
|
1,686
|
|
|
$
|
2,493
|
|
|
$
|
—
|
|
|
$
|
(277
|
)
|
|
$
|
5
|
|
•
|
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 include 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 promotional awards. We receive fees from our third-party partner upon activation of each credit card once the card member reaches a specified level of spend, which we defer until the associated promotional nights awarded are redeemed or expired.
|
–
|
Other revenues also include 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. In periods subsequent to the sale of the business, 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, as well as reservations, marketing and technology costs. 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.
|
•
|
$40 million
and
$70 million
, respectively, related to sales proceeds from the 2014 dispositions of two Canadian hotels, as the Canadian tax regulations require a portion of the proceeds be classified as restricted until completion of regulatory review (see Note
7
);
|
•
|
$14 million
and
$13 million
, respectively, related to debt service on bonds acquired in connection with the acquisition of the entity that owned Grand Hyatt San Antonio (see Note
9
); in addition, we have
$11 million
and
$10 million
, respectively, recorded in other assets; and
|
•
|
$9 million
and
$7 million
, respectively, related to our captive insurance subsidiary for minimum capital and surplus requirements in accordance with local insurance regulations (see Note
14
).
|
•
|
Trading securities—recorded at fair value based on listed market prices or dealer price quotations where available. Realized gains and losses on trading securities are reflected in net gains and interest income from marketable securities held to fund operating programs on our consolidated statements of income.
|
•
|
AFS securities—recorded at fair value as described in Note 4. Unrealized gains and losses on AFS securities are reported as part of accumulated other comprehensive loss on the consolidated balance sheets. Realized gains and losses on AFS securities are recognized in
other income (loss), net
on our consolidated statements of income.
|
•
|
HTM securities—debt security investments which we have the ability to hold until maturity and are recorded at amortized cost.
|
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
|
•
|
SARs
—Each vested SAR gives the holder the right to the difference between the value of one share of our Class A common stock at the exercise date and the value of one share of our Class A common stock at the grant date. Vested SARs can be exercised over their life as determined in accordance with the LTIP. All SARs have a 10-year contractual term, are settled in shares of our Class A common stock and are accounted for as equity instruments.
|
•
|
RSUs
—Each vested RSU will be settled by delivery of a single share of our Class A common stock with the exception of insignificant portions of the March 2016, March 2015, February 2014, March 2013, and June 2013 awards which will be settled in cash. The value of the RSUs is based upon the fair value of our common stock at the grant date, based upon a valuation of the Company prior to IPO, or the closing stock price of our Class A common stock for the December 2009 award and all subsequent awards. Awards issued prior to our November 2009 IPO are deferred in nature and will be settled once all tranches of the award have fully vested or otherwise as provided in the relevant agreements, while all awards issued in December 2009 and later will be settled as each individual tranche vests under the relevant agreements.
|
•
|
PSs
—The Company has granted PSs to certain executive officers. The number of PSs that will ultimately vest with no further restrictions on transfer depends upon the performance of the Company at the end of the applicable three year performance period relative to the applicable performance target. The PSs vest in full if the maximum performance metric is achieved, and generally subject to continued employment through the applicable performance period. At the end of the performance period, the PSs that do not vest will be forfeited. The PSs will vest at the end of the performance period only if the performance threshold is met and continued service requirements are satisfied; there is no interim performance metric except in the case of certain change in control transactions.
|
•
|
PSUs
—The Company has granted PSUs to certain executive officers. PSUs vest and are settled in Class A common stock based upon the performance of the Company through the end of the applicable three year performance period relative to the applicable performance target, and generally subject to continued employment through the applicable performance period. The PSUs will vest at the end of the performance period only if the performance threshold is met and continued service requirements are satisfied; there is no interim performance metric except in the case of certain change in control transactions.
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Current Assets
|
$
|
150
|
|
|
$
|
179
|
|
Noncurrent Assets
|
296
|
|
|
280
|
|
||
Total Assets
|
$
|
446
|
|
|
$
|
459
|
|
|
|
|
|
||||
Current Liabilities
|
$
|
150
|
|
|
$
|
179
|
|
Noncurrent Liabilities
|
296
|
|
|
280
|
|
||
Total Liabilities
|
$
|
446
|
|
|
$
|
459
|
|
•
|
Under existing guidance, gains on sales of real estate when we maintain substantial continuing involvement are deferred and amortized into management and franchise fee revenues. Upon adoption of ASU 2014-09, gains on sales of real estate assets will be recognized when control of the property transfers to the buyer. We expect any remaining unamortized deferred gains as of our date of adoption will be included as an adjustment to equity. For the
|
•
|
Under existing guidance, amortization of management and franchise agreement intangibles is recorded within depreciation and amortization on our consolidated statements of income. Upon adoption of ASU 2014-09, management and franchise agreement intangibles may meet the definition of consideration paid to a customer and therefore, could be recorded as contra-revenue within management and franchise fees on our consolidated statements of income.
|
•
|
Under existing guidance, incentive fees are recognized in the amount that would be due as if the contract were to terminate at that date. Under ASU 2014-09, variable consideration is included in the transaction price only if it is probable that a significant reversal in the cumulative amount of revenue recognized would not occur when the uncertainty associated with the variable consideration is subsequently resolved. This may result in a different pattern of recognition for incentive fees for certain contracts.
|
•
|
Under existing guidance, franchise application fees are recognized at a point in time. Upon adoption of ASU 2014-09, initial franchise application fees will be recognized over time.
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Equity method investments
|
$
|
180
|
|
|
$
|
304
|
|
Cost method investments
|
6
|
|
|
23
|
|
||
Total investments
|
$
|
186
|
|
|
$
|
327
|
|
|
Ownership Interests
|
|
Investment Balance
|
|||||||
December 31, 2016
|
|
December 31, 2015
|
||||||||
Juniper Hotels Private Limited
|
50.0
|
%
|
|
$
|
37
|
|
|
$
|
44
|
|
Playa Hotels & Resorts B.V.
|
23.7
|
%
|
|
23
|
|
|
28
|
|
||
San Jose Hotel Partners, L.L.C.
|
40.0
|
%
|
|
15
|
|
|
12
|
|
||
Four One Five, L.L.C.
|
49.0
|
%
|
|
15
|
|
|
5
|
|
||
Rio Preto Partners SARL
|
70.0
|
%
|
|
14
|
|
|
7
|
|
||
Desarrolladora Hotel Acueducto S. de R.L. de C.V.
|
50.0
|
%
|
|
13
|
|
|
15
|
|
||
Hotel Hoyo Uno, S. de R.L. de C.V.
|
40.0
|
%
|
|
13
|
|
|
14
|
|
||
Hotel Am Belvedere GmbH & Co KG
|
50.0
|
%
|
|
12
|
|
|
—
|
|
||
Wailea Hotel Holdings, L.L.C. (See Note 7)
|
—
|
%
|
|
—
|
|
|
125
|
|
||
Other
|
|
|
38
|
|
|
54
|
|
|||
Total
|
|
|
$
|
180
|
|
|
$
|
304
|
|
|
Years Ended December 31,
|
||||||||||
2016
|
|
2015
|
|
2014
|
|||||||
Total revenues
|
$
|
1,229
|
|
|
$
|
1,079
|
|
|
$
|
1,192
|
|
Gross operating profit
|
398
|
|
|
312
|
|
|
329
|
|
|||
Income from continuing operations
|
160
|
|
|
33
|
|
|
31
|
|
|||
Net income
|
160
|
|
|
33
|
|
|
31
|
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Current Assets
|
$
|
443
|
|
|
$
|
472
|
|
Noncurrent Assets
|
2,701
|
|
|
2,877
|
|
||
Total Assets
|
$
|
3,144
|
|
|
$
|
3,349
|
|
|
|
|
|
||||
Current Liabilities
|
$
|
385
|
|
|
$
|
625
|
|
Noncurrent Liabilities
|
2,037
|
|
|
1,752
|
|
||
Total Liabilities
|
$
|
2,422
|
|
|
$
|
2,377
|
|
•
|
We purchased our partners' interests in Andaz Maui at Wailea Resort and villas. The transaction was accounted for as a step acquisition and we recorded a gain of
$14 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.
|
•
|
We sold our ownership interest in an equity method investment within our owned and leased hotels segment for which we received proceeds of
$4 million
. We recorded a gain of
$3 million
in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income.
|
•
|
Two unconsolidated hospitality ventures in which we hold or held an ownership interest and which are classified as equity method investments within our owned and leased hotels segment, sold
five
Hyatt Place hotels, for which we received combined proceeds of
$15 million
. We recorded gains of
$7 million
in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income.
|
•
|
Unconsolidated hospitality 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
two
Hyatt Place hotels for which we received proceeds of
$16 million
. We recorded gains of
$13 million
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 was 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 an unconsolidated hospitality 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.
|
•
|
Unconsolidated hospitality 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:
|
•
|
A Hyatt Place hotel, 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
.
|
•
|
Unconsolidated hospitality ventures in which we held an ownership interest and which were classified as equity method investments within our owned and leased hotels segment, sold
two
Hyatt Place hotels, for which we received proceeds of
$33 million
. We recorded gains of
$22 million
in equity earnings (losses) from unconsolidated hospitality ventures on our consolidated statements of income.
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Marketable securities held by Hyatt Gold Passport Fund (Note 2)
|
$
|
394
|
|
|
$
|
384
|
|
Marketable securities held to fund deferred compensation plans held in rabbi trusts (Note 11)
|
352
|
|
|
333
|
|
||
Marketable securities held to fund our captive insurance companies
|
65
|
|
|
82
|
|
||
Total marketable securities held to fund operating programs
|
$
|
811
|
|
|
$
|
799
|
|
Less current portion of marketable securities held to fund operating programs included in cash and cash equivalents, short-term investments, and prepaids and other assets
|
(109
|
)
|
|
(121
|
)
|
||
Marketable securities held to fund operating programs included in other assets
|
$
|
702
|
|
|
$
|
678
|
|
|
Years Ended December 31,
|
||||||||||
2016
|
|
2015
|
|
2014
|
|||||||
Hyatt Gold Passport Fund
|
$
|
2
|
|
|
$
|
1
|
|
|
$
|
3
|
|
Deferred compensation plans held in rabbi trusts
|
17
|
|
|
3
|
|
|
12
|
|
|||
Total net gains and interest income from marketable securities held to fund operating programs
|
$
|
19
|
|
|
$
|
4
|
|
|
$
|
15
|
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Interest bearing money market funds
|
$
|
106
|
|
|
$
|
5
|
|
Time deposits
|
45
|
|
|
30
|
|
||
Preferred shares
|
290
|
|
|
335
|
|
||
Total marketable securities held for investment purposes
|
$
|
441
|
|
|
$
|
370
|
|
Less current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments
|
(151
|
)
|
|
(35
|
)
|
||
Marketable securities held for investment purposes included in other assets
|
$
|
290
|
|
|
$
|
335
|
|
|
December 31, 2016
|
|
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
|
$
|
114
|
|
|
$
|
114
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Mutual funds
|
352
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
352
|
|
|||||
Level Two - Significant Other Observable Inputs
|
|
|
|
|
|
|
|
|
|
||||||||||
Time deposits
|
59
|
|
|
—
|
|
|
46
|
|
|
—
|
|
|
13
|
|
|||||
U.S. government obligations
|
142
|
|
|
—
|
|
|
—
|
|
|
33
|
|
|
109
|
|
|||||
U.S. government agencies
|
53
|
|
|
—
|
|
|
9
|
|
|
8
|
|
|
36
|
|
|||||
Corporate debt securities
|
181
|
|
|
—
|
|
|
1
|
|
|
35
|
|
|
145
|
|
|||||
Mortgage-backed securities
|
22
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
17
|
|
|||||
Asset-backed securities
|
34
|
|
|
—
|
|
|
—
|
|
|
8
|
|
|
26
|
|
|||||
Municipal and provincial notes and bonds
|
5
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
4
|
|
|||||
Level Three - Significant Unobservable Inputs
|
|
|
|
|
|
|
|
|
|
||||||||||
Preferred Shares
|
290
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
290
|
|
|||||
Total
|
$
|
1,252
|
|
|
$
|
114
|
|
|
$
|
56
|
|
|
$
|
90
|
|
|
$
|
992
|
|
|
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
|
|
|
2016
|
|
2015
|
||||
Fair value at January 1
|
$
|
335
|
|
|
$
|
280
|
|
Gross unrealized gains
|
19
|
|
|
55
|
|
||
Gross unrealized losses
|
(29
|
)
|
|
—
|
|
||
Realized losses
|
(6
|
)
|
|
—
|
|
||
Interest income
|
12
|
|
|
—
|
|
||
Cash redemption
|
(41
|
)
|
|
—
|
|
||
Fair value at December 31
|
$
|
290
|
|
|
$
|
335
|
|
|
December 31, 2016
|
|
December 31, 2015
|
||
Expected term
|
1 year
|
|
|
0.75 years
|
|
Risk-free Interest Rate
|
0.85
|
%
|
|
0.57
|
%
|
Volatility
|
46.5
|
%
|
|
46.0
|
%
|
Dividend Yield
|
12.0
|
%
|
|
12.0
|
%
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Land
|
$
|
901
|
|
|
$
|
674
|
|
Buildings
|
4,125
|
|
|
3,898
|
|
||
Leasehold improvements
|
202
|
|
|
220
|
|
||
Furniture, equipment and computers
|
1,316
|
|
|
1,209
|
|
||
Construction in progress
|
90
|
|
|
251
|
|
||
|
6,634
|
|
|
6,252
|
|
||
Accumulated depreciation
|
(2,364
|
)
|
|
(2,221
|
)
|
||
Total property and equipment, net
|
$
|
4,270
|
|
|
$
|
4,031
|
|
|
Years Ended December 31,
|
||||||||||
2016
|
|
2015
|
|
2014
|
|||||||
Depreciation expense
|
$
|
315
|
|
|
$
|
289
|
|
|
$
|
324
|
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Unsecured financing to hotel owners
|
119
|
|
|
120
|
|
||
Less allowance for losses
|
(100
|
)
|
|
(98
|
)
|
||
Less current portion included in receivables, net
|
—
|
|
|
(2
|
)
|
||
Total long-term financing receivables, net
|
$
|
19
|
|
|
$
|
20
|
|
|
Secured Financing
|
|
Unsecured Financing
|
|
Total
|
||||||
Allowance at January 1, 2016
|
$
|
—
|
|
|
$
|
98
|
|
|
$
|
98
|
|
Provisions
|
—
|
|
|
10
|
|
|
10
|
|
|||
Write-offs
|
—
|
|
|
(8
|
)
|
|
(8
|
)
|
|||
Allowance at December 31, 2016
|
$
|
—
|
|
|
$
|
100
|
|
|
$
|
100
|
|
|
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
|
|
|
December 31, 2016
|
||||||||||||||
|
Gross Loan Balance (Principal and Interest)
|
|
Related Allowance
|
|
Net Financing Receivables
|
|
Gross Receivables on Non-Accrual Status
|
||||||||
Loans
|
$
|
13
|
|
|
$
|
—
|
|
|
$
|
13
|
|
|
$
|
—
|
|
Impaired loans (1)
|
56
|
|
|
(56
|
)
|
|
—
|
|
|
56
|
|
||||
Total loans
|
69
|
|
|
(56
|
)
|
|
13
|
|
|
56
|
|
||||
Other financing arrangements
|
50
|
|
|
(44
|
)
|
|
6
|
|
|
44
|
|
||||
Total unsecured financing receivables
|
$
|
119
|
|
|
$
|
(100
|
)
|
|
$
|
19
|
|
|
$
|
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 (2)
|
58
|
|
|
(58
|
)
|
|
—
|
|
|
58
|
|
||||
Total loans
|
73
|
|
|
(58
|
)
|
|
15
|
|
|
58
|
|
||||
Other financing arrangements
|
47
|
|
|
(40
|
)
|
|
7
|
|
|
40
|
|
||||
Total unsecured financing receivables
|
$
|
120
|
|
|
$
|
(98
|
)
|
|
$
|
22
|
|
|
$
|
98
|
|
Cash and cash equivalents
|
$
|
12
|
|
Receivables
|
3
|
|
|
Inventories
|
13
|
|
|
Prepaids and other assets
|
1
|
|
|
Property and equipment
|
323
|
|
|
Total assets
|
$
|
352
|
|
|
|
||
Current liabilities
|
10
|
|
|
Total liabilities
|
$
|
10
|
|
Total net assets acquired
|
$
|
342
|
|
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
|
|
|
2016
|
Discount rate
|
7.25% - 9.00%
|
Terminal capitalization rate (1)
|
5.50% - 7.75%
|
|
Owned and Leased Hotels
|
|
Americas Management and Franchising
|
|
Total
|
||||||
Balance at January 1, 2015
|
|
|
|
|
|
||||||
Goodwill
|
$
|
195
|
|
|
$
|
33
|
|
|
$
|
228
|
|
Accumulated impairment losses
|
(95
|
)
|
|
—
|
|
|
(95
|
)
|
|||
Goodwill, net
|
$
|
100
|
|
|
$
|
33
|
|
|
$
|
133
|
|
Activity during the year
|
|
|
|
|
|
||||||
Foreign exchange*
|
(4
|
)
|
|
—
|
|
|
(4
|
)
|
|||
Balance at December 31, 2015
|
|
|
|
|
|
||||||
Goodwill
|
191
|
|
|
33
|
|
|
224
|
|
|||
Accumulated impairment losses
|
(95
|
)
|
|
—
|
|
|
(95
|
)
|
|||
Goodwill, net
|
$
|
96
|
|
|
$
|
33
|
|
|
$
|
129
|
|
Activity during the year
|
|
|
|
|
|
||||||
Foreign exchange*
|
(4
|
)
|
|
—
|
|
|
(4
|
)
|
|||
Balance at December 31, 2016
|
|
|
|
|
|
||||||
Goodwill
|
187
|
|
|
33
|
|
|
220
|
|
|||
Accumulated impairment losses
|
(95
|
)
|
|
—
|
|
|
(95
|
)
|
|||
Goodwill, net
|
$
|
92
|
|
|
$
|
33
|
|
|
$
|
125
|
|
|
December 31, 2016
|
|
Weighted Average Useful Lives
|
|
December 31, 2015
|
|||||
Management and franchise agreement intangibles
|
$
|
589
|
|
|
25
|
|
|
$
|
535
|
|
Lease related intangibles
|
115
|
|
|
111
|
|
|
136
|
|
||
Brand intangibles
|
16
|
|
|
—
|
|
|
7
|
|
||
Advanced booking intangibles
|
11
|
|
|
6
|
|
|
12
|
|
||
Other
|
6
|
|
|
14
|
|
|
8
|
|
||
|
737
|
|
|
|
|
698
|
|
|||
Accumulated amortization
|
(138
|
)
|
|
|
|
(151
|
)
|
|||
Intangibles, net
|
$
|
599
|
|
|
|
|
$
|
547
|
|
|
Years Ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
Amortization expense
|
$
|
27
|
|
|
$
|
31
|
|
|
$
|
30
|
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
$250 million senior unsecured notes maturing in 2016—3.875%
|
$
|
—
|
|
|
$
|
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%
|
350
|
|
|
350
|
|
||
$400 million senior unsecured notes maturing in 2026—4.850%
|
400
|
|
|
—
|
|
||
Tax-Exempt Contract Revenue Empowerment Zone Bonds, Series 2005A
|
130
|
|
|
130
|
|
||
Contract Revenue Bonds, Senior Taxable Series 2005B
|
59
|
|
|
63
|
|
||
Floating average rate construction loan
|
79
|
|
|
65
|
|
||
Senior secured term loan
|
—
|
|
|
64
|
|
||
Revolving credit facility
|
100
|
|
|
—
|
|
||
Other
|
1
|
|
|
—
|
|
||
Long-term debt before capital lease obligations
|
1,565
|
|
|
1,368
|
|
||
Capital lease obligations
|
15
|
|
|
16
|
|
||
Total long-term debt
|
1,580
|
|
|
1,384
|
|
||
Less current maturities
|
(119
|
)
|
|
(328
|
)
|
||
Less unamortized discounts and deferred financing fees
|
(16
|
)
|
|
(14
|
)
|
||
Total long-term debt, net of current maturities
|
$
|
1,445
|
|
|
$
|
1,042
|
|
•
|
In 2009, we issued
$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 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"). During the year ended
December 31, 2016
, we redeemed all of our outstanding 2016 Notes, of which an aggregate principal amount of
$250 million
was outstanding. The redemption price, which was calculated in accordance with the terms of the 2016 Notes and included principal and accrued interest plus a make-whole premium, was
$254 million
. The make-whole premium was recorded within other income (loss), net on our consolidated statements of income, see Note
20
.
|
•
|
In 2013, we issued
$350 million
of
3.375%
senior notes due 2023 at an issue price of
99.498%
(the "2023 Notes").
|
•
|
In 2016, we issued
$400 million
of
4.850%
senior notes due 2026, at an issue price of
99.920%
(the "2026 Notes" and together with the 2016 Notes, the 2019 Notes, 2021 Notes and the 2023 Notes, the "Senior Notes"). We received net proceeds of
$396 million
from the sale of the 2026 Notes, after deducting discounts and offering expenses of approximately
$4 million
. We used a portion of the net proceeds to pay for the redemption of the 2016 Notes (as described above), with the remaining proceeds intended to be used for general corporate purposes.
|
|
December 31, 2016
|
||||||||||||||||||
|
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
|
$
|
1,549
|
|
|
$
|
1,642
|
|
|
$
|
—
|
|
|
$
|
1,450
|
|
|
$
|
192
|
|
|
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
|
$
|
1,354
|
|
|
$
|
1,421
|
|
|
$
|
—
|
|
|
$
|
1,277
|
|
|
$
|
144
|
|
Years Ending December 31,
|
Operating Leases
|
|
Capital Leases
|
||||
2017
|
$
|
41
|
|
|
$
|
2
|
|
2018
|
35
|
|
|
3
|
|
||
2019
|
39
|
|
|
3
|
|
||
2020
|
29
|
|
|
2
|
|
||
2021
|
26
|
|
|
2
|
|
||
Thereafter
|
444
|
|
|
8
|
|
||
Total minimum lease payments
|
$
|
614
|
|
|
$
|
20
|
|
Less amount representing interest
|
|
|
5
|
|
|||
Present value of minimum lease payments
|
|
|
$
|
15
|
|
|
Years Ended December 31,
|
||||||||||
2016
|
|
2015
|
|
2014
|
|||||||
Minimum rentals
|
$
|
37
|
|
|
$
|
34
|
|
|
$
|
35
|
|
Contingent rentals
|
53
|
|
|
53
|
|
|
49
|
|
|||
Total
|
$
|
90
|
|
|
$
|
87
|
|
|
$
|
84
|
|
Years Ending December 31,
|
|
||
2017
|
$
|
22
|
|
2018
|
17
|
|
|
2019
|
13
|
|
|
2020
|
12
|
|
|
2021
|
11
|
|
|
Thereafter
|
58
|
|
|
Total minimum lease receipts
|
$
|
133
|
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Deferred gains on sales of hotel properties
|
$
|
363
|
|
|
$
|
367
|
|
Deferred compensation plans (see Note 11)
|
352
|
|
|
333
|
|
||
Hyatt Gold Passport Fund (see Note 2)
|
296
|
|
|
280
|
|
||
Guarantee liabilities (see Note 14)
|
124
|
|
|
120
|
|
||
Other accrued income taxes (see Note 13)
|
100
|
|
|
127
|
|
||
Deferred income taxes (see Note 13)
|
57
|
|
|
59
|
|
||
Defined benefit plans (see Note 11)
|
20
|
|
|
20
|
|
||
Other
|
160
|
|
|
141
|
|
||
Total
|
$
|
1,472
|
|
|
$
|
1,447
|
|
|
Years Ended December 31,
|
||||||||||
2016
|
|
2015
|
|
2014
|
|||||||
U.S. income before tax
|
$
|
180
|
|
|
$
|
119
|
|
|
$
|
493
|
|
Foreign income before tax
|
109
|
|
|
75
|
|
|
32
|
|
|||
Income before income taxes
|
$
|
289
|
|
|
$
|
194
|
|
|
$
|
525
|
|
|
Years Ended December 31,
|
|||||||
2016
|
|
2015
|
|
2014
|
||||
Statutory U.S. federal income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
State income taxes—net of federal tax benefit
|
3.4
|
|
|
3.5
|
|
|
3.4
|
|
Impact of foreign operations (excluding unconsolidated hospitality ventures losses)
|
(5.4
|
)
|
|
(13.8
|
)
|
|
0.9
|
|
Foreign unconsolidated hospitality ventures
|
1.2
|
|
|
10.0
|
|
|
0.8
|
|
Playa foreign tax credit benefit
|
(2.6
|
)
|
|
—
|
|
|
—
|
|
Tax contingencies
|
(5.2
|
)
|
|
(1.5
|
)
|
|
(2.6
|
)
|
Change in valuation allowances
|
3.6
|
|
|
3.1
|
|
|
(1.0
|
)
|
General business credits
|
(0.8
|
)
|
|
(1.9
|
)
|
|
(0.4
|
)
|
Equity based compensation
|
0.4
|
|
|
(0.5
|
)
|
|
0.4
|
|
Other
|
(0.1
|
)
|
|
2.3
|
|
|
(2.4
|
)
|
Effective income tax rate
|
29.5
|
%
|
|
36.2
|
%
|
|
34.1
|
%
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Deferred tax assets related to:
|
|
|
|
||||
Employee benefits
|
$
|
202
|
|
|
$
|
196
|
|
Foreign and state net operating losses and credit carryforwards
|
46
|
|
|
34
|
|
||
Investments
|
55
|
|
|
70
|
|
||
Allowance for uncollectible assets
|
36
|
|
|
36
|
|
||
Intangibles
|
—
|
|
|
4
|
|
||
Deferred gains on sales of hotel properties
|
134
|
|
|
142
|
|
||
Hyatt Gold Passport Fund
|
81
|
|
|
81
|
|
||
Interest and state benefits
|
2
|
|
|
2
|
|
||
Unrealized losses
|
5
|
|
|
5
|
|
||
Other
|
54
|
|
|
50
|
|
||
Valuation allowance
|
(27
|
)
|
|
(17
|
)
|
||
Total deferred tax asset
|
$
|
588
|
|
|
$
|
603
|
|
Deferred tax liabilities related to:
|
|
|
|
||||
Property and equipment
|
$
|
(224
|
)
|
|
$
|
(258
|
)
|
Investments
|
(28
|
)
|
|
(33
|
)
|
||
Intangibles
|
(14
|
)
|
|
—
|
|
||
Unrealized gains
|
(39
|
)
|
|
(45
|
)
|
||
Prepaid expenses
|
(12
|
)
|
|
(13
|
)
|
||
Other
|
(15
|
)
|
|
(12
|
)
|
||
Total deferred tax liabilities
|
$
|
(332
|
)
|
|
$
|
(361
|
)
|
Net deferred tax assets
|
$
|
256
|
|
|
$
|
242
|
|
Recognized in the balance sheet as:
|
|
|
|
||||
Deferred tax assets—noncurrent
|
$
|
313
|
|
|
$
|
301
|
|
Deferred tax liabilities—noncurrent
|
(57
|
)
|
|
(59
|
)
|
||
Total
|
$
|
256
|
|
|
$
|
242
|
|
|
2016
|
|
2015
|
||||
Unrecognized tax benefits—beginning balance
|
$
|
110
|
|
|
$
|
40
|
|
Total increases—current period tax positions
|
2
|
|
|
13
|
|
||
Total (decreases) increases—prior period tax positions
|
(21
|
)
|
|
69
|
|
||
Lapse of statute of limitations
|
(5
|
)
|
|
(8
|
)
|
||
Foreign currency fluctuation
|
—
|
|
|
(4
|
)
|
||
Unrecognized tax benefits—ending balance
|
$
|
86
|
|
|
$
|
110
|
|
|
|
The Four Managed Hotels in France
|
|
Other Performance Guarantees
|
|
Total
|
||||||||||||||||||
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||
Beginning balance, January 1
|
|
$
|
93
|
|
|
$
|
106
|
|
|
$
|
4
|
|
|
$
|
5
|
|
|
$
|
97
|
|
|
$
|
111
|
|
Initial guarantee obligation liability
|
|
—
|
|
|
—
|
|
|
9
|
|
|
—
|
|
|
9
|
|
|
—
|
|
||||||
Amortization of initial guarantee obligation liability into income
|
|
(33
|
)
|
|
(10
|
)
|
|
(1
|
)
|
|
(2
|
)
|
|
(34
|
)
|
|
(12
|
)
|
||||||
Performance guarantee expense (income), net
|
|
64
|
|
|
28
|
|
|
(1
|
)
|
|
(1
|
)
|
|
63
|
|
|
27
|
|
||||||
Net (payments) receipts during the year
|
|
(57
|
)
|
|
(20
|
)
|
|
2
|
|
|
2
|
|
|
(55
|
)
|
|
(18
|
)
|
||||||
Foreign currency exchange, net
|
|
(1
|
)
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
(11
|
)
|
||||||
Ending balance, December 31
|
|
$
|
66
|
|
|
$
|
93
|
|
|
$
|
13
|
|
|
$
|
4
|
|
|
$
|
79
|
|
|
$
|
97
|
|
Property Description
|
|
Maximum Potential Future Payments
|
|
Maximum Exposure Net of Recoverability from Third Parties
|
|
Amount Recorded at December 31, 2016
|
|
Amount Recorded at December 31, 2015
|
|
Year of Guarantee Expiration
|
||||||||
Hotel property in Washington
(1), (3), (4), (5)
|
|
$
|
215
|
|
|
$
|
—
|
|
|
$
|
35
|
|
|
$
|
—
|
|
|
2020
|
Hotel properties in India (2), (3)
|
|
177
|
|
|
177
|
|
|
21
|
|
|
27
|
|
|
2020
|
||||
Hotel property in Brazil (1)
|
|
80
|
|
|
40
|
|
|
3
|
|
|
4
|
|
|
2020
|
||||
Hotel property in Minnesota
|
|
25
|
|
|
25
|
|
|
2
|
|
|
2
|
|
|
2021
|
||||
Hotel property in Arizona (1), (4)
|
|
25
|
|
|
—
|
|
|
2
|
|
|
3
|
|
|
2019
|
||||
Hotel properties in California (1)
|
|
21
|
|
|
8
|
|
|
6
|
|
|
—
|
|
|
2020
|
||||
Hotel property in Colorado
|
|
8
|
|
|
8
|
|
|
—
|
|
|
—
|
|
|
2017
|
||||
Other (1)
|
|
25
|
|
|
1
|
|
|
—
|
|
|
3
|
|
|
various, through 2017
|
||||
Total
|
|
$
|
576
|
|
|
$
|
259
|
|
|
$
|
69
|
|
|
$
|
39
|
|
|
|
|
2016
|
|
2015
|
Discount rates
|
10.6% - 12.6%
|
|
9.5% - 12.6%
|
Stabilized growth rates
|
1.8% - 4.8%
|
|
1.8% - 4.8%
|
Capitalization rates (1)
|
7.0% - 10.0%
|
|
6.5% - 10.0%
|
Term
|
0.2 - 7.0 years
|
|
0.3 - 5.0 years
|
Grant Date
|
|
SARs Granted
|
|
Value at Date of Grant
|
|
Vesting Period
|
|
Vesting Start Month
|
||||
March 2016
|
|
45,710
|
|
|
$
|
14.22
|
|
|
33
|
% annually
|
|
March 2017
|
March 2016
|
|
878,714
|
|
|
14.54
|
|
|
25
|
% annually
|
|
March 2017
|
|
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
|
|
2016
|
|
2015
|
|
2014
|
||||||
Exercise Price
|
$
|
47.36
|
|
|
$
|
56.57
|
|
|
$
|
49.39
|
|
Expected Life in Years
|
6.227
|
|
|
6.309
|
|
|
6.290
|
|
|||
Risk-free Interest Rate
|
1.55
|
%
|
|
1.63
|
%
|
|
1.93
|
%
|
|||
Expected Volatility
|
27.72
|
%
|
|
35.39
|
%
|
|
44.32
|
%
|
|||
Annual Dividend Yield
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
SAR Units
|
|
Weighted Average Exercise Price (in whole dollars)
|
|
Weighted Average Contractual Term
|
|||
Outstanding at December 31, 2015:
|
3,876,937
|
|
|
$
|
47.63
|
|
|
5.03
|
Granted
|
924,424
|
|
|
47.36
|
|
|
9.22
|
|
Exercised
|
(325,339
|
)
|
|
43.09
|
|
|
2.08
|
|
Forfeited or canceled
|
(22,035
|
)
|
|
53.32
|
|
|
5.04
|
|
Outstanding at December 31, 2016:
|
4,453,987
|
|
|
$
|
47.88
|
|
|
5.25
|
Exercisable at December 31, 2016:
|
2,855,153
|
|
|
$
|
47.09
|
|
|
3.44
|
Grant Date
|
|
RSUs
|
|
Value
|
|
Total Value (in millions)
|
|
Vesting Period
|
|||||
December 2016
|
|
40,633
|
|
|
$
|
56.60
|
|
|
$
|
2
|
|
|
4 years
|
March 2016
|
|
444,629
|
|
|
47.36
|
|
|
21
|
|
|
4 years
|
||
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
|
|
Restricted Stock
Units
|
|
Weighted Average Grant Date Fair Value (in whole dollars)
|
|||
Nonvested at December 31, 2015:
|
1,014,574
|
|
|
$
|
50.02
|
|
Granted
|
485,262
|
|
|
48.13
|
|
|
Vested
|
(394,087
|
)
|
|
47.42
|
|
|
Forfeited or canceled
|
(89,572
|
)
|
|
49.78
|
|
|
Nonvested at December 31, 2016:
|
1,016,177
|
|
|
$
|
50.15
|
|
Year Granted
|
|
PSUs and PSs Granted
|
|
Weighted Average Grant Date Fair Value (in whole dollars)
|
|
Performance Period
|
|
Performance Period Start Date
|
|||
2016 PSUs
|
|
111,620
|
|
|
$
|
47.36
|
|
|
3 years
|
|
January 1, 2016
|
2015 PSs
|
|
146,902
|
|
|
$
|
56.27
|
|
|
3 years
|
|
January 1, 2015
|
2014 PSs
|
|
162,906
|
|
|
$
|
49.39
|
|
|
3 years
|
|
January 1, 2014
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Total
|
||||||||||
SARs
|
$
|
3
|
|
|
$
|
2
|
|
|
$
|
1
|
|
|
$
|
—
|
|
|
$
|
6
|
|
RSUs
|
7
|
|
|
4
|
|
|
3
|
|
|
1
|
|
|
15
|
|
|||||
PSUs and PSs
|
2
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
4
|
|
|||||
Total
|
$
|
12
|
|
|
$
|
8
|
|
|
$
|
4
|
|
|
$
|
1
|
|
|
$
|
25
|
|
•
|
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. Adjusted EBITDA includes intercompany expenses related to management fees paid to the Company's management and franchising segments, which are eliminated in consolidation. Intersegment revenues relate to promotional award redemptions earned by our owned and leased hotels related to our co-branded credit card, which are eliminated in consolidation.
|
•
|
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 within other revenues
|
•
|
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 Greater China, Australia, South Korea, Japan and Micronesia. 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 technology costs. These revenues and costs are recorded within other revenues from managed properties and other costs from managed properties, respectively. The intersegment revenues relate to management fees collected from the Company’s owned hotels, which are eliminated in consolidation.
|
•
|
EAME/SW Asia 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 primarily in Europe, Africa, the Middle East, India, Central Asia and Nepal. 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 technology costs. These revenues and costs are recorded within other revenues from managed properties and other costs from managed properties, respectively. The intersegment revenues relate to management fees collected from the Company’s owned hotels, which are eliminated in consolidation.
|
|
Years Ended December 31,
|
||||||||||
2016
|
|
2015
|
|
2014
|
|||||||
Owned and leased hotels
|
|
|
|
|
|
||||||
Owned and leased hotels revenues
|
$
|
2,119
|
|
|
$
|
2,079
|
|
|
$
|
2,246
|
|
Intersegment revenues (a)
|
11
|
|
|
—
|
|
|
—
|
|
|||
Adjusted EBITDA
|
516
|
|
|
493
|
|
|
523
|
|
|||
Depreciation and amortization
|
285
|
|
|
277
|
|
|
322
|
|
|||
Capital expenditures
|
200
|
|
|
225
|
|
|
208
|
|
|||
Americas management and franchising
|
|
|
|
|
|
||||||
Management and franchise fees revenues
|
371
|
|
|
354
|
|
|
327
|
|
|||
Other revenues from managed properties
|
1,670
|
|
|
1,641
|
|
|
1,550
|
|
|||
Intersegment revenues (a)
|
75
|
|
|
74
|
|
|
88
|
|
|||
Adjusted EBITDA
|
318
|
|
|
300
|
|
|
265
|
|
|||
Depreciation and amortization
|
18
|
|
|
19
|
|
|
18
|
|
|||
Capital expenditures
|
—
|
|
|
—
|
|
|
1
|
|
|||
ASPAC management and franchising
|
|
|
|
|
|
||||||
Management and franchise fees revenues
|
96
|
|
|
91
|
|
|
88
|
|
|||
Other revenues from managed properties
|
98
|
|
|
87
|
|
|
74
|
|
|||
Intersegment revenues (a)
|
2
|
|
|
2
|
|
|
2
|
|
|||
Adjusted EBITDA
|
57
|
|
|
55
|
|
|
49
|
|
|||
Depreciation and amortization
|
1
|
|
|
1
|
|
|
1
|
|
|||
Capital expenditures
|
1
|
|
|
1
|
|
|
1
|
|
|||
EAME/SW Asia management and franchising
|
|
|
|
|
|
||||||
Management and franchise fees revenues
|
65
|
|
|
67
|
|
|
77
|
|
|||
Other revenues from managed properties
|
65
|
|
|
58
|
|
|
53
|
|
|||
Intersegment revenues (a)
|
10
|
|
|
13
|
|
|
15
|
|
|||
Adjusted EBITDA
|
33
|
|
|
33
|
|
|
43
|
|
|||
Depreciation and amortization
|
5
|
|
|
5
|
|
|
6
|
|
|||
Capital expenditures
|
1
|
|
|
—
|
|
|
—
|
|
|||
Corporate and other
|
|
|
|
|
|
||||||
Revenues
|
43
|
|
|
40
|
|
|
75
|
|
|||
Other revenues from managed properties
|
—
|
|
|
—
|
|
|
30
|
|
|||
Adjusted EBITDA
|
(139
|
)
|
|
(131
|
)
|
|
(103
|
)
|
|||
Depreciation and amortization
|
33
|
|
|
18
|
|
|
7
|
|
|||
Capital expenditures
|
9
|
|
|
43
|
|
|
43
|
|
|||
Eliminations (a)
|
|
|
|
|
|
||||||
Revenues
|
(98
|
)
|
|
(89
|
)
|
|
(105
|
)
|
|||
Adjusted EBITDA
|
—
|
|
|
—
|
|
|
—
|
|
|||
Depreciation and amortization
|
—
|
|
|
—
|
|
|
—
|
|
|||
Capital expenditures
|
—
|
|
|
—
|
|
|
—
|
|
|||
TOTAL
|
|
|
|
|
|
||||||
Revenues
|
$
|
4,429
|
|
|
$
|
4,328
|
|
|
$
|
4,415
|
|
Adjusted EBITDA
|
785
|
|
|
750
|
|
|
777
|
|
|||
Depreciation and amortization
|
342
|
|
|
320
|
|
|
354
|
|
|||
Capital expenditures
|
211
|
|
|
269
|
|
|
253
|
|
(a)
|
Intersegment revenues are included in the management and franchise fees revenues and owned and leased hotels revenues and eliminated in Eliminations.
|
|
December 31, 2016
|
|
December 31, 2015
|
||||
Owned and leased hotels
|
$
|
5,393
|
|
|
$
|
5,281
|
|
Americas management and franchising
|
564
|
|
|
464
|
|
||
ASPAC management and franchising
|
128
|
|
|
131
|
|
||
EAME/SW Asia management and franchising
|
186
|
|
|
234
|
|
||
Corporate and other
|
1,478
|
|
|
1,481
|
|
||
TOTAL
|
$
|
7,749
|
|
|
$
|
7,591
|
|
|
Years Ended December 31,
|
||||||||||
2016
|
|
2015
|
|
2014
|
|||||||
Revenues:
|
|
|
|
|
|
||||||
United States
|
$
|
3,571
|
|
|
$
|
3,494
|
|
|
$
|
3,476
|
|
All Foreign
|
858
|
|
|
834
|
|
|
939
|
|
|||
Total
|
$
|
4,429
|
|
|
$
|
4,328
|
|
|
$
|
4,415
|
|
|
|
|
|
|
|
||||||
|
December 31, 2016
|
|
December 31, 2015
|
|
|
||||||
Property and equipment, net, Intangibles, net and Goodwill:
|
|
|
|
|
|
||||||
United States
|
$
|
3,915
|
|
|
$
|
3,562
|
|
|
|
||
All Foreign
|
1,079
|
|
|
1,145
|
|
|
|
||||
Total
|
$
|
4,994
|
|
|
$
|
4,707
|
|
|
|
|
Years Ended December 31,
|
||||||||||
2016
|
|
2015
|
|
2014
|
|||||||
Net income attributable to Hyatt Hotels Corporation
|
$
|
204
|
|
|
$
|
124
|
|
|
$
|
344
|
|
Interest expense
|
76
|
|
|
68
|
|
|
71
|
|
|||
Provision for income taxes
|
85
|
|
|
70
|
|
|
179
|
|
|||
Depreciation and amortization
|
342
|
|
|
320
|
|
|
354
|
|
|||
EBITDA
|
707
|
|
|
582
|
|
|
948
|
|
|||
Equity (earnings) losses from unconsolidated hospitality ventures
|
(68
|
)
|
|
64
|
|
|
(25
|
)
|
|||
Stock-based compensation expense
|
25
|
|
|
23
|
|
|
49
|
|
|||
(Gains) losses on sales of real estate and other
|
23
|
|
|
(9
|
)
|
|
(311
|
)
|
|||
Asset impairments
|
—
|
|
|
5
|
|
|
17
|
|
|||
Other (income) loss, net
|
(2
|
)
|
|
5
|
|
|
17
|
|
|||
Net income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
2
|
|
|||
Pro rata share of unconsolidated hospitality ventures Adjusted EBITDA
|
100
|
|
|
80
|
|
|
80
|
|
|||
Adjusted EBITDA
|
$
|
785
|
|
|
$
|
750
|
|
|
$
|
777
|
|
|
Years Ended December 31,
|
||||||||||
2016
|
|
2015
|
|
2014
|
|||||||
Numerator:
|
|
|
|
|
|
||||||
Net income
|
$
|
204
|
|
|
$
|
124
|
|
|
$
|
346
|
|
Net (income) loss attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
(2
|
)
|
|||
Net income attributable to Hyatt Hotels Corporation
|
$
|
204
|
|
|
$
|
124
|
|
|
$
|
344
|
|
Denominator:
|
|
|
|
|
|
||||||
Basic weighted average shares outstanding
|
132,930,578
|
|
|
142,814,868
|
|
|
153,136,511
|
|
|||
Share-based compensation
|
1,008,753
|
|
|
1,184,455
|
|
|
1,213,941
|
|
|||
Diluted weighted average shares outstanding
|
133,939,331
|
|
|
143,999,323
|
|
|
154,350,452
|
|
|||
Basic Earnings Per Share:
|
|
|
|
|
|
||||||
Net income
|
$
|
1.53
|
|
|
$
|
0.87
|
|
|
$
|
2.26
|
|
Net (income) loss attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
(0.01
|
)
|
|||
Net income attributable to Hyatt Hotels Corporation
|
$
|
1.53
|
|
|
$
|
0.87
|
|
|
$
|
2.25
|
|
Diluted Earnings Per Share:
|
|
|
|
|
|
||||||
Net income
|
$
|
1.52
|
|
|
$
|
0.86
|
|
|
$
|
2.24
|
|
Net (income) loss attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
(0.01
|
)
|
|||
Net income attributable to Hyatt Hotels Corporation
|
$
|
1.52
|
|
|
$
|
0.86
|
|
|
$
|
2.23
|
|
|
For the three months ended
|
||||||||||||||||||||||||||||||
December 31, 2016
|
|
September 30, 2016
|
|
June 30, 2016
|
|
March 31, 2016
|
|
December 31, 2015
|
|
September 30, 2015
|
|
June 30, 2015
|
|
March 31, 2015
|
|||||||||||||||||
Consolidated statements of income data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Owned and leased hotels
|
$
|
514
|
|
|
$
|
519
|
|
|
$
|
559
|
|
|
$
|
516
|
|
|
$
|
530
|
|
|
$
|
500
|
|
|
$
|
540
|
|
|
$
|
509
|
|
Management and franchise fees
|
116
|
|
|
110
|
|
|
115
|
|
|
107
|
|
|
107
|
|
|
103
|
|
|
112
|
|
|
105
|
|
||||||||
Other revenues
|
9
|
|
|
11
|
|
|
11
|
|
|
9
|
|
|
10
|
|
|
10
|
|
|
9
|
|
|
7
|
|
||||||||
Other revenues from managed properties
|
448
|
|
|
448
|
|
|
480
|
|
|
457
|
|
|
462
|
|
|
440
|
|
|
451
|
|
|
433
|
|
||||||||
Total revenues
|
1,087
|
|
|
1,088
|
|
|
1,165
|
|
|
1,089
|
|
|
1,109
|
|
|
1,053
|
|
|
1,112
|
|
|
1,054
|
|
||||||||
Direct and selling, general, and administrative expenses
|
1,027
|
|
|
1,019
|
|
|
1,063
|
|
|
1,021
|
|
|
1,047
|
|
|
965
|
|
|
998
|
|
|
995
|
|
||||||||
Net income
|
41
|
|
|
62
|
|
|
67
|
|
|
34
|
|
|
37
|
|
|
25
|
|
|
40
|
|
|
22
|
|
||||||||
Net income attributable to Hyatt Hotels Corporation
|
41
|
|
|
62
|
|
|
67
|
|
|
34
|
|
|
37
|
|
|
25
|
|
|
40
|
|
|
22
|
|
||||||||
Net income per common share, basic
|
$
|
0.31
|
|
|
$
|
0.48
|
|
|
$
|
0.50
|
|
|
$
|
0.25
|
|
|
$
|
0.26
|
|
|
$
|
0.18
|
|
|
$
|
0.28
|
|
|
$
|
0.15
|
|
Net income per common share, diluted
|
$
|
0.31
|
|
|
$
|
0.47
|
|
|
$
|
0.49
|
|
|
$
|
0.25
|
|
|
$
|
0.26
|
|
|
$
|
0.18
|
|
|
$
|
0.27
|
|
|
$
|
0.15
|
|
|
|
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, 2016:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Trade receivables—allowance for doubtful accounts
|
|
$
|
15
|
|
|
$
|
6
|
|
|
$
|
—
|
|
|
$
|
(3
|
)
|
|
$
|
18
|
|
Financing receivables—allowance for losses
|
|
98
|
|
|
10
|
|
|
—
|
|
|
(8
|
)
|
|
100
|
|
|||||
Deferred tax assets—valuation allowance
|
|
17
|
|
|
10
|
|
|
—
|
|
|
—
|
|
|
27
|
|
|||||
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
|
|
Exhibit Number
|
|
Exhibit Description
|
|
|
|
3.1
|
|
Amended and Restated Certificate of Incorporation of Hyatt Hotels Corporation
|
|
|
|
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
|
|
Sixth Supplemental Indenture, dated March 7, 2016, 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 March 8, 2016)
|
|
|
|
4.11
|
|
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)
|
|
|
|
4.12
|
|
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
|
|
Form of 4.850% Senior Note due 2026 (included as part of Exhibit 4.1 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 March 8, 2016)
|
|
|
|
4.15
|
|
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 (incorporated by reference to Exhibit 10.4 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 SEC on February 18, 2016)
|
|
|
|
+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)
|
Exhibit Number
|
|
Exhibit Description
|
|
|
|
+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)
|
|
|
|
+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 25, 2016)
|
|
|
|
+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 8, 2016
|
|
|
|
Exhibit Number
|
|
Exhibit Description
|
+10.20
|
|
Hyatt Hotels Corporation Amended and Restated Summary of Non-Employee Director Compensation (January 1, 2017)
|
|
|
|
+10.21
|
|
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)
|
|
|
|
+10.22
|
|
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)
|
|
|
|
+10.23
|
|
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)
|
|
|
|
+10.24
|
|
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)
|
|
|
|
+10.25
|
|
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)
|
|
|
|
+10.26
|
|
Employment Letter, dated as of February 10, 2016, between Hyatt Corporation and Patrick J. Grismer (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 February 11, 2016)
|
|
|
|
+10.27
|
|
Employment Letter, dated as of September 19, 2016, between Hyatt Corporation and Anne-Marie Law
|
|
|
|
+10.28
|
|
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)
|
|
|
|
+10.29
|
|
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)
|
|
|
|
+10.30
|
|
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)
|
|
|
|
+10.31
|
|
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)
|
|
|
|
+10.32
|
|
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)
|
|
|
|
Exhibit Number
|
|
Exhibit Description
|
+10.33
|
|
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)
|
|
|
|
+10.34
|
|
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)
|
|
|
|
+10.35
|
|
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)
|
|
|
|
+10.36
|
|
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)
|
|
|
|
+10.37
|
|
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)
|
|
|
|
+10.38
|
|
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)
|
|
|
|
10.39
|
|
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)
|
|
|
|
10.40
|
|
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)
|
|
|
|
10.41
|
|
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)
|
|
|
|
10.42
|
|
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)
|
|
|
|
10.43
|
|
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)
|
|
|
|
10.44
|
|
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
|
|
|
|
10.45
|
|
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)
|
|
|
|
10.46
|
|
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)
|
|
|
|
10.47
|
|
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)
|
|
|
|
10.48
|
|
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)
|
|
|
|
10.49
|
|
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)
|
|
|
|
10.50
|
|
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)
|
|
|
|
10.51
|
|
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)
|
|
|
|
10.52
|
|
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)
|
|
|
|
10.53
|
|
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
|
|
|
|
Exhibit Number
|
|
Exhibit Description
|
21.1
|
|
List of Subsidiaries
|
|
|
|
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.
|
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
|
|
By:
|
/s/ Harmit J. Singh
|
|
|
|
Harmit J. Singh
|
|
|
|
Chief Financial Officer
|
|
|
|
|
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
|
|
By:
|
/s/ Susan T. Smith
|
|
|
|
Susan T. Smith
|
|
|
|
General Counsel, Senior Vice President and Secretary
|
|
|
|
|
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
|
|
By:
|
/s/ Harmit J. Singh
|
|
|
|
Harmit J. Singh
|
|
|
|
Executive Vice President, Chief Financial Officer
|
|
|
|
|
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
|
|
By:
|
/s/ Rena Hozore Reiss
|
|
|
|
Rena Hozore Reiss
|
|
|
|
Executive Vice President, General Counsel and Secretary
|
|
|
|
|
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
|
|
By:
|
/s/ Rena Hozore Reiss
|
|
|
|
Rena Hozore Reiss
|
|
|
|
Executive Vice President, General Counsel and Secretary
|
|
|
|
|
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
|
|
By:
|
/s/ Rena Hozore Reiss
|
|
|
|
Rena Hozore Reiss
|
|
|
|
Executive Vice President, General Counsel and Secretary
|
|
|
|
|
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
|
|
By:
|
/s/ Rena Hozore Reiss
|
|
|
|
Rena Hozore Reiss
|
|
|
|
Executive Vice President, General Counsel and Secretary
|
|
|
|
|
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
|
|
By:
|
/s/ Rena Hozore Reiss
|
|
|
|
Rena Hozore Reiss
|
|
|
|
Executive Vice President, General Counsel and Secretary
|
|
|
|
|
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
|
|
By:
|
/s/ Rena Hozore Reiss
|
|
|
|
Rena Hozore Reiss
|
|
|
|
Executive Vice President, General Counsel and Secretary
|
|
|
|
|
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
|
|
By:
|
/s/ Rena Hozore Reiss
|
|
|
|
Rena Hozore Reiss
|
|
|
|
Executive Vice President, General Counsel and Secretary
|
|
|
|
|
|
|
HYATT HOTELS CORPORATION
|
|
|
|
|
|
|
|
By:
|
/s/ Rena Hozore Reiss
|
|
|
|
Rena Hozore Reiss
|
|
|
|
Executive Vice President, General Counsel and Secretary
|
|
|
|
|
(a)
|
On or before December 31 of any Year, the Director may elect to defer all or any part of the Annual Fee or Annual Equity Retainer earned during the Year following such election and succeeding Years (until the Director ceases to be a Director).
|
(b)
|
Any person who shall become a Director during any Year, and who was not a Director on the preceding December 31, may elect within thirty days after the Director’s term begins to defer payment of all or a specified part of such Annual Fee or Annual Equity Retainer earned during the remainder of such Year or succeeding Years.
|
(c)
|
Prior to the First Restatement Effective Date, each Director was also allowed to defer receipt of his Initial Equity Retainer.
|
(d)
|
Fees deferred pursuant to this Section shall be paid to the Director at the time(s) and in the manner specified in Article IV hereof, in the form of cash or Common Stock, or any combination thereof, as designated by the Director in accordance with Article III hereof.
|
(a)
|
Stock Units credited to a Director’s Stock Unit Account in respect of the Annual Equity Retainer will be rounded up to the next whole share of Common Stock.
|
(b)
|
With respect to the Annual Fee payable in respect of each fiscal year as to which an election to receive Common Stock has been made, for each of the first three quarters of such fiscal year, any portion of the Annual Fee that would result in a fractional Stock Unit being credited to a Director’s Stock Unit Account in such fiscal quarter will not be credited to the Director’s Stock Unit Account and will instead be converted into a notional fractional unit (consistent with the methodology set forth in Section 3.4), until such notional fractional unit, when aggregated with any additional notional fractional units accumulated for any subsequent fiscal quarter in the same manner, equals one whole unit, at which time such notional whole unit will be cancelled, converted into a Stock Unit and credited to the Director’s Stock Unit Account. In the fourth quarter of the fiscal year, any remaining notional fractional unit will be rounded up to the next whole unit, cancelled, converted into a Stock Unit and credited to the applicable Director’s Stock Unit Account.
|
(a)
|
To comply with a domestic relations order (as defined in Code Section 414(p)(1)(B));
|
(b)
|
In the event of an Unforeseeable Emergency (as defined below), a Director may, upon written request, receive payment of all or any portion of his Accounts as is reasonably necessary (as determined by the full Board of Directors, without regard to the affected Director) to relieve the need occasioned by the Unforeseeable Emergency. Such payment shall be made as soon as reasonably practicable following the later of (i) the payment date designated by the Director in his request or (ii) the determination of Unforeseeable Emergency, but in any event not later than 30 days after such date. For purposes of this paragraph (b), an “Unforeseeable Emergency” means a severe financial hardship to the
|
(c)
|
If the Internal Revenue Service, makes a determination that a Director is required to include in gross income the value of his Accounts, as soon as practicable following such determination the Company shall pay to the Director in a lump sum, the full amount required to be included in the Director’s gross income.
|
(d)
|
If the distributable balance of the Director’s Accounts is less than the amount applicable under Code Section 402(g) for the year in question, then notwithstanding any prior installment election, the balance of such Accounts shall be distributed in a lump sum.
|
(e)
|
Upon the termination and liquidation of the Plan, the balance of the Directors Accounts shall be distributed in a lump sum twelve months following such termination and liquidation; provided that such termination or liquidation is not in connection with a downturn in the financial health of the Company and shall conform to the requirements of Treasury Regulation Section 1.409A-3(j)(4)(ix).
|
(a)
|
The Director’s election of a new In-Service Distribution Date shall not take effect until at least twelve (12) months after the Director’s new In-Service Distribution Date election is made in accordance with Section 409A(a)(4)(C)(i) of the Code and the Treasury Regulations thereunder.
|
(b)
|
The Director’s new In-Service Distribution Date may not be less than five years from the date of the Director’s prior In-Service Distribution Date, as determined in accordance with Section 409A(a)(4)(C)(ii) of the Code and the Treasury Regulations thereunder.
|
(c)
|
The Director’s election of a new In-Service Distribution Date shall not be made less than twelve (12) months prior to the prior In-Service Distribution Date in accordance with Section 409A(a)(4)(C)(iii) of the Code and the Treasury Regulations thereunder.
|
(d)
|
Any change to a Director’s In-Service Distribution Date election shall be made in accordance with Section 409A(a)(4)(C) of the Code and the Treasury Regulations thereunder.
|
•
|
$75,000 annual cash retainer (“Annual Fee”). The Annual Fee will be paid on a quarterly basis. Directors will receive a check for $18,750 after the end of each fiscal quarter, but may instead elect to receive all or a portion of the Annual Fee in shares of HHC Class A Common Stock (“Stock”). If shares of Stock are selected, the date of grant will be the 15th day of the last month of the quarter. If the 15th falls on a day on which the principal stock exchange on which the Stock is traded is closed, then the date of grant will be the next following day on which such principal stock exchange is open. The Stock will be reflected in the brokerage account established by HHC for the Director. If a Director ceases to be a member of the Board before the grant date for any quarter (regardless of whether or not he or she has elected to receive Stock), the Director shall receive in cash a pro-rata portion of the $18,750 fee for such quarter based on the number of days in the quarter in which the Director served on the Board, payable at the same time as cash fees are paid generally to Directors for such quarter.
|
•
|
$150,000 payable in the form of shares of Stock (“Annual Equity Retainer”). The Annual Equity Retainer will be paid on the date of HHC’s annual meeting of stockholders at which directors are elected each year (the “Annual Meeting”), payable in arrears for service since the prior Annual Meeting. The Stock will be reflected in the brokerage account established by HHC for the Director. If a Director ceases to be a member of the Board prior to the next Annual Meeting, then such Director shall receive a pro-rata Annual Equity Retainer based on the number of days during which the Director served as a Director, divided by the number of days between Annual Meetings, determined and payable at the Annual Meeting following the date such Director ceased to be a member of the Board.
|
•
|
Newly elected Directors will receive $75,000 payable in the form of Stock (“
Initial Equity Retainer
”). The Initial Equity Retainer will be granted on the date of election or appointment as a Director with a value of $75,000, determined by reference to the fair market value of the Company’s Stock at the time of grant.
|
•
|
$10,000 annual cash retainer for members of Committees other than Audit Committee
|
•
|
$15,000 annual cash retainer for members of Audit Committee.
|
•
|
$25,000 annual cash retainer for Audit Committee Chair.
|
•
|
$25,000 annual cash retainer for Compensation Committee Chair.
|
•
|
$15,000 annual cash retainer for all other Committee Chairs.
|
•
|
Directors may defer receipt of all or any portion of their Annual Fee and/or Annual Equity Retainer (collectively the “
Retainer
”) pursuant to the Directors’ Deferred Compensation Plan, as amended (the “
Deferred Plan
”).
|
•
|
Amounts in respect of the Annual Fee deferred under the Deferred Plan may, at the election of the Director at the time of deferral, be denominated in cash or in restricted stock units (each an “
RSU
”), which entitle the Director to receive shares of Stock (not subject to restrictions other than the minimum ownership requirements described below) at a set time in the future in accordance with the terms of the Deferred Plan. Amounts in respect of the Annual Equity Retainer deferred under the Deferred Plan will be denominated in RSUs.
|
•
|
RSUs do not entitle the Director to rights as a stockholder unless and until Stock is delivered in respect of the RSUs. Stock will be issued and delivered in settlement of the RSUs automatically on the earlier of the Director’s termination of service as a Director for any reason or a change of control (within the meaning of the Deferred Plan). However, at the time of the applicable deferral election, a Director may elect to instead have the Stock delivered in settlement of the RSUs on the earlier of the fifth calendar year after deferral or a change of control (within the meaning of the Deferred Plan).
3
|
•
|
RSUs will carry dividend equivalent rights for each RSU. In the event that HHC pays dividends, dividend equivalent rights entitle the Director to receive dividends they would have received on the RSUs had the RSUs constituted outstanding shares of Stock at the time of such dividends (which will be credited in the form of additional RSUs and distributed to the Director at the same time as the underlying RSUs to which they relate).
|
•
|
Deferral Elections
: To the extent a Director desires to defer receipt of all or any part of the Retainers under the Deferred Plan, such election must be made in accordance with the terms of the Deferred Plan on or prior to December 31 of the calendar year prior to the calendar year to which the Retainer relates. Once an election to defer is made and becomes irrevocable, it may be revoked and changed only for future years.
|
•
|
Calculation of Number of Shares of Stock or RSUs
: The number of shares of Stock to be delivered to a Director or shares subject to RSUs credited under the Deferred Plan will be calculated by dividing the dollar amount of the relevant entitlement by the fair market value of a share of Stock on the date of the grant. Only whole shares of Stock or RSUs will be issued by rounding up to the next whole share of Stock, except with respect to the Annual Fee, where any remaining partial value for a fiscal quarter will be accumulated and allocated to the next fiscal quarter, however, in the last fiscal quarter, the value of the grant will be rounded up to the next whole share of Stock.
|
•
|
Vesting
: All shares of Stock and RSUs (and shares of Stock issued in settlement thereof) will be immediately vested.
|
•
|
Minimum Required Ownership
: Each non-employee Director must accumulate and own, directly or indirectly, at least 5 times the Annual Fee ($375,000) worth of the Company’s common stock (or common stock equivalents held under the Deferred Plan) at all times during his or her tenure on the Board; provided, that non-employee Directors will have up to five (5) years of service on the Board to meet this ownership requirement. If the market value of a Director’s stock should fall below 5 times the Annual Fee (following the relevant accumulation period), such Director shall not be permitted to sell any of the Company’s common stock until the market value shall once again exceed 5 times the Annual Fee (other than in connection with a change of control transaction).
|
•
|
Directors will be taxed as ordinary income on the value of the Stock on the date the Stock is issued and delivered. The capital gain and Rule 144 holding periods both begin on such date.
|
•
|
Directors will not be taxed on RSUs until the actual shares are issued and delivered. At that time, the value of the shares delivered will be taxable as ordinary income. For purposes of Rule 144 and capital gain tax rules, the relevant “holding period” does not begin until the shares (as opposed to RSUs) are actually issued.
|
|
Mark Hoplamazian
President & Chief Executive Officer
Hyatt Hotels Corporation
71 South Wacker Drive
Chicago, IL 60606 USA
T: +1 312.780.5400
mark.hoplamazian@hyatt.com
|
•
|
Medical and Dental insurance
|
•
|
Life Insurance
|
•
|
401(k) Retirement Savings Plan
|
•
|
Deferred Compensation Plan (DCP)
|
•
|
Disability Coverage
|
•
|
Paid Time Off (PTO) Accrual
|
•
|
Use of the Company Dining Room
|
•
|
Corporate Office Severance Plan
|
•
|
Executive Change in Control Plan
|
|
For the Years Ended December 31,
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2013
|
|
2012
|
||||||||||
Earnings:
|
|
|
|
|
|
|
|
|
|
||||||||||
Pretax income from continuing operations before adjustment for equity earnings (losses) from unconsolidated hospitality ventures
|
$
|
221
|
|
|
$
|
258
|
|
|
$
|
500
|
|
|
$
|
322
|
|
|
$
|
116
|
|
Fixed charges
|
176
|
|
|
133
|
|
|
129
|
|
|
105
|
|
|
95
|
|
|||||
Distributed income of equity method unconsolidated hospitality ventures
|
25
|
|
|
25
|
|
|
70
|
|
|
39
|
|
|
15
|
|
|||||
Subtract: Interest capitalized net of amortization
|
4
|
|
|
6
|
|
|
4
|
|
|
5
|
|
|
1
|
|
|||||
Subtract: Noncontrolling interest loss with no fixed charges
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
(2
|
)
|
|
(1
|
)
|
|||||
Total Earnings
|
$
|
418
|
|
|
$
|
410
|
|
|
$
|
696
|
|
|
$
|
463
|
|
|
$
|
226
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Fixed Charges:
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest expense
|
$
|
83
|
|
|
$
|
77
|
|
|
$
|
78
|
|
|
$
|
74
|
|
|
$
|
74
|
|
Interest within rent expense
|
30
|
|
|
29
|
|
|
28
|
|
|
26
|
|
|
21
|
|
|||||
Performance guarantee expense, net
|
63
|
|
|
27
|
|
|
23
|
|
|
5
|
|
|
—
|
|
|||||
Total Fixed Charges
|
$
|
176
|
|
|
$
|
133
|
|
|
$
|
129
|
|
|
$
|
105
|
|
|
$
|
95
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Ratio of Earnings to Fixed Charges
(1)
|
2.4x
|
|
|
3.1x
|
|
|
5.4x
|
|
|
4.4x
|
|
|
2.4x
|
|
(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
|
ADMINISTRACION DE PERSONAL ANDARES, S. DE R.L. DE C.V.
|
Mexico
|
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
|
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
|
CHANCELLOR STREET CONDOMINIUM ASSOCIATION, INC.
|
Pennsylvania
|
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
|
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
|
FAN PIER, L.L.C.
|
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. AUSTIN, L.L.C.
|
Delaware
|
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. LENOX, L.L.C.
|
Delaware
|
H.E. NASHVILLE, L.L.C.
|
Delaware
|
H.E. NEWPORT, L.L.C.
|
Delaware
|
H.E. ORLANDO, L.L.C.
|
Delaware
|
H.E. PHILADELPHIA HC HOLDINGS, L.L.C.
|
Delaware
|
H.E. PHILADELPHIA HC HOTEL, L.L.C.
|
Delaware
|
H.E. PHILADELPHIA HC PARKING, L.L.C.
|
Delaware
|
H.E. PHILADELPHIA HC RETAIL, L.L.C.
|
Delaware
|
H.E. PHILADELPHIA SANSOM, L.L.C.
|
Delaware
|
H.E. PORTLAND, L.L.C.
|
Delaware
|
H.E. PORTLAND HC, 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
|
H.E. TUCSON HOLDINGS, L.L.C.
|
Delaware
|
H.E. TUCSON OWNER, 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
|
HGP (TRAVEL) LIMITED
|
Hong Kong (PRC)
|
HH NASHVILLE HOLDINGS, L.L.C.
|
Delaware
|
HH NASHVILLE JV HOLDINGS, L.L.C.
|
Delaware
|
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 AM BELVEDERE HOLDING GMBH
|
Austria
|
HOTEL AM BELVEDERE HOLDING GMBH & CO KG
|
Austria
|
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
|
HOTELS CS CELAYA 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 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
|
HRHC, LLC
|
Texas
|
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-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-LONG BEACH, L.L.C.
|
Delaware
|
HT-MIAMI BEACH, L.L.C.
|
Delaware
|
HT ORLANDO LLC
|
Delaware
|
HTS-ASPEN, L.L.C.
|
Delaware
|
HTS-BC, INC.
|
Delaware
|
HT-SEATTLE, LLC
|
Delaware
|
HT-SEATTLE HOLDINGS, LLC
|
Delaware
|
HTSF, L.L.C.
|
Delaware
|
HT-SIERRA, L.L.C.
|
Delaware
|
HTS-INVESTMENT, L,L.C.
|
Delaware
|
HTS - NS, L.L.C.
|
Delaware
|
HTS - NY, L.L.C.
|
Delaware
|
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 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 GLOBAL SERVICES, INC.
|
Delaware
|
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
|
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, L.L.C.
|
Delaware
|
PHMC RESIDENCIAS, S. DE R.L. DE C.V. (MEXICO)
|
Mexico
|
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
|
RIO 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
|
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
|
WAILEA RESORT VILLAS HOLDINGS, L.L.C.
|
Delaware
|
WEST END RESIDENCES, L.L.C.
|
Delaware
|
XENIA ASSURANCE COMPANY, INC.
|
Arizona
|
XENIA ASSURANCE COMPANY OF ILLINOIS
|
Illinois
|
ZURICH ESCHERWIESE HOTEL GMBH
|
Switzerland
|
ZURICH HOTEL INVESTMENTS B.V.
|
Netherlands
|
|
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 Centric Key West Resort & Spa
|
||
|
Hyatt Regency Miami
|
||
|
Hyatt Regency Orlando International Airport
|
||
|
Hyatt Regency Sarasota
|
||
|
Grand Hyatt Tampa Bay
|
||
|
The Confidante Miami Beach
|
||
|
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 Regency Morristown
|
||
|
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 Centric Times Square New York
|
||
|
Andaz Wall Street
|
||
|
Park Hyatt New York
|
||
|
Hyatt Regency Cleveland at The Arcade
|
|
Hyatt Regency Columbus
|
||
|
Hyatt at The Bellevue
|
||
|
Hyatt Regency Austin
|
||
|
Hyatt Regency Dallas
|
||
|
Grand Hyatt DFW
|
||
|
Hyatt Regency DFW International Airport
|
||
|
Hyatt Regency Hill Country Resort and Spa
|
||
|
The Driskill
|
||
|
Hyatt Regency Houston
|
||
|
Hyatt Regency Lost Pines Resort and Spa
|
||
|
Grand Hyatt San Antonio
|
||
|
Hyatt Regency San Antonio Riverwalk
|
||
|
Hyatt Centric The Woodlands
|
||
|
Hyatt Centric Park City
|
||
|
Hyatt Regency Crystal City at Reagan National Airport
|
||
|
Hyatt Regency Dulles
|
||
|
Hyatt Regency Reston
|
||
|
Hyatt Regency Tysons Corner Center
|
||
|
Hyatt Regency Bellevue on Seattle’s Eastside
|
||
|
Hyatt at Olive 8
|
||
|
Grand Hyatt Seattle
|
||
|
Hyatt Regency Green Bay
|
||
|
Hyatt Regency Orlando
|
||
|
|
||
SUBSIDIARY: HYATT HOTELS CORPORATION OF MARYLAND
|
Names under which such subsidiary does business:
|
||
|
Hyatt Regency Baltimore Inner Harbor
|
||
|
|
||
SUBSIDIARY: HYATT HOTELS CORPORATION OF KANSAS
|
Names under which such subsidiary does business:
|
||
|
Hyatt Regency Wichita
|
||
SUBSIDIARY: HYATT MAINZ GMBH
|
Names under which such subsidiary does business:
|
||
|
Hyatt Regency Mainz
|
||
|
|
||
SUBSIDIARY: HYATT REGENCY COLOGNE GMBH
|
Names under which such subsidiary does business:
|
||
|
Hyatt Regency Cologne
|
||
|
|
||
SUBSIDIARY: JOINT VENTURE ITALKYR CLOSED JOINT STOCK COMPANY
|
Names under which such subsidiary does business:
|
||
|
Hyatt Regency Bishkek
|
||
|
|
||
SUBSIDIARY: PARK HYATT HOTEL GMBH
|
Names under which such subsidiary does business:
|
||
|
Park Hyatt Zurich
|
||
|
|
||
SUBSIDIARY: SASIH
|
Names under which such subsidiary does business:
|
||
|
Park Hyatt Paris - Vendome
|
||
|
|
||
SUBSIDIARY: SEOUL MIRAMAR CORPORATION
|
Names under which such subsidiary does business:
|
||
|
Grand Hyatt Seoul
|
||
|
|
||
SUBSIDIARY: SELECT HOTELS GROUP, L.L.C.
|
Names under which such subsidiary does business:
|
||
|
Hyatt Place Phoenix/Gilbert
|
||
|
Hyatt Place Phoenix-North
|
||
|
Hyatt Place Scottsdale/Old Town
|
||
|
Hyatt Place Tempe/Phoenix Airport
|
||
|
Hyatt Place Tucson Airport
|
|
Hyatt House Cypress/Anaheim
|
||
|
Hyatt House Emeryville/San Francisco Bay Area
|
||
|
Hyatt Place Fremont/Silicon Valley
|
||
|
Hyatt House San Diego/Sorrento Mesa
|
||
|
Hyatt House San Jose/Silicon Valley
|
||
|
Hyatt House San Ramon
|
||
|
Hyatt House Santa Clara
|
||
|
Hyatt Place Colorado Springs/Garden of the Gods
|
||
|
Hyatt Place Denver-South/Park Meadows
|
||
|
Hyatt Place Denver Tech Center
|
||
|
Hyatt House Denver Tech Center
|
||
|
Hyatt Place Orlando Airport
|
||
|
Hyatt Place Orlando/Convention Center
|
||
|
Hyatt Place Orlando/Universal
|
||
|
Hyatt Place Atlanta Airport-South
|
||
|
Hyatt Place Atlanta/Buckhead
|
||
|
Hyatt Place Atlanta/Cobb Galleria
|
||
|
Hyatt Place Atlanta/Duluth/Gwinnett Mall
|
||
|
Hyatt Place Chicago/Hoffman Estates
|
||
|
Hyatt Place Chicago/Lombard/Oak Brook
|
||
|
Hyatt Place Fort Wayne
|
||
|
Hyatt Place Indianapolis Airport
|
||
|
Hyatt Place Kansas City/Overland Park/Convention Center
|
||
|
Hyatt House New Orleans/Downtown
|
||
|
Hyatt Place Baltimore/Owings Mills
|
||
|
Hyatt Place Detroit/Utica
|
||
|
Hyatt Place Minneapolis/Downtown
|
||
|
Hyatt Place Kansas City Airport
|
||
|
Hyatt Place Mt. Laurel
|
||
|
Hyatt House Charlotte/Center City
|
||
|
Hyatt Place Charlotte Airport/Lake Pointe
|
||
|
Hyatt Place Columbus/Dublin
|
||
|
Hyatt House Portland/Downtown
|
||
|
Hyatt House San Juan
|
||
|
Hyatt Place San Juan/Bayamón
|
||
|
Hyatt Place San Juan/City Center
|
||
|
Hyatt Place Manati
|
||
|
Hyatt House Charleston/Historic District
|
||
|
Hyatt Place Charleston/Historic District
|
||
|
Hyatt Place Nashville/Hendersonville
|
||
|
Hyatt Place Austin-North Central
|
||
|
Hyatt Place Dallas/Arlington
|
||
|
Hyatt Place Dallas-North By the Galleria
|
||
|
Hyatt Place DFW
|
||
|
Hyatt Place El Paso Airport
|
||
|
Hyatt Place Houston/Sugar Land
|
||
|
Hyatt Place San Antonio/Riverwalk
|
||
|
Hyatt Place Park City
|
||
|
Hyatt Place Chantilly/Dulles Airport-South
|
||
|
Hyatt Place Sterling/Dulles Airport-North
|
||
|
Hyatt Place Madison/Downtown
|
||
|
|
||
SUBSIDIARY: THE GREAT EASTERN HOTEL COMPANY LIMITED
|
Names under which such subsidiary does business:
|
|
Andaz London Liverpool Street
|
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 16, 2017
|
/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 16, 2017
|
/s/ Patrick J. Grismer
|
|
Patrick J. Grismer
|
|
Executive Vice President, 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/ Patrick J. Grismer
|
|
Name:
|
Patrick J. Grismer
|
Title:
|
Executive Vice President, 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
|
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.
|
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-THC1
|
Trust 2015-THC2
|
Trust J-2015B
|
Trust B-2015C
|
Trust D-2015D
|
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.
|
1922 Trust Company LTA is the trustee (the “
Trustee
”) of TGFJ Trust 1 (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.
|
1922 Trust Company LTA is the trustee (the “
Trustee
”) of Jay Arthur 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.
|
Paul A. Bible is the trustee (the “
Trustee
”) of Second Universe 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.
|
Nicholas J. Pritzker is the trustee (the “
Trustee
”) of the Nicholas J. Pritzker Revocable (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.
|
J.P. Morgan Trust Company (Bahamas) Limited is the trustee (the “
Trustee
”) of 2010 N3 Purpose 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
|