Document:

Transition Agreement

 Exhibit 10.1 

EXECUTION COPY  
 TRANSITION AGREEMENT 
 THIS TRANSITION AGREEMENT (the
“Agreement”) is entered into as of May 1, 2012 (the “Effective Date”), by and among Hyatt Hotels Corporation, a Delaware corporation (together with its successors and assigns, the “Company”),
and Harmit J. Singh (the “Executive”). 
 RECITALS 

WHEREAS, the Executive is currently serving as the Executive Vice President, Chief Financial Officer (“CFO”) of the
Company; 
 WHEREAS, the Executive and the Company have agreed that the Executive will voluntarily separate from employment with
the Company on December 31, 2012 or such earlier date provided for herein; 
 WHEREAS, the Company desires to provide for
an orderly transition of the Executive’s duties and responsibilities and the Executive desires to assist the Company in realizing an orderly transition; and 
 WHEREAS, in furtherance of the foregoing, the Executive and the Company have negotiated and reached an agreement with respect to all rights, duties and obligations arising between them, including, but in
no way limited to, any rights, duties and obligations that have arisen or might arise out of or are in any way related to the Executive’s continued employment with the Company and the conclusion of that employment (other than as specifically
provided in this Agreement). 
 NOW THEREFORE, in consideration of the covenants and mutual promises recited below, the parties
agree as follows: 
 1. Employment; Duties. 

(a) Transition Period. During the period beginning on the Effective Date and ending on the first to occur of:
(i) August 15, 2012, (ii) a date mutually agreed to by the Executive and the Company, (iii) the date on which another individual is appointed by the Company to serve as its Chief Financial Officer (or such later date as is
determined by the Company as the effective date of such appointment for the purposes of this Agreement), (iv) the date on which another individual is appointed by the Company to serve as its Principal Financial Officer (or such later date as is
determined by the Company as the effective date of such appointment for the purposes of this Agreement) and (v) the date on which the Executive’s employment is terminated by the Company for Cause (the first to occur of such dates, the
“Transition Date”), the Executive shall continue to serve the Company as its CFO. During the period from the Effective Date until the Transition Date (the “Transition Period”), the Executive shall
(x) transition such duties and responsibilities to such individuals as the President and Chief Executive Officer of the Company (“CEO”) may designate, including to the CFO’s successor, (y) provide such assistance as
may be requested by the CEO and (z) have and perform such duties, responsibilities and authority as may be assigned by the CEO or his designee from time to time. For the purposes of this Agreement, “Cause” means (w) the
Executive’s 

 
engagement in gross negligence, willful misconduct in the performance of his material duties or material responsibilities; (x) the Executive’s failure after written notice to perform
his duties or his material breach of any agreement relating to his employment that remains uncured for 14 days after notice to Executive of such failure or breach; (y) the Executive breaches any of the Covenants (as defined below) or Sections 8
and/or 12 hereof and, if reasonably able to be cured, fails to cure said breach within 10 days of written notice; or (z) the Executive is charged with or indicted for a felony. The Company represents that the CEO is not aware of any
circumstances that would constitute Cause to terminate Executive’s employment. The Executive represents that he is not aware of any circumstances that would constitute Cause to terminate Executive’s employment. 

(b) Interim Period. Assuming that the Executive has not been terminated by the Company for Cause, from the Transition Date
through the first to occur of (i) December 31, 2012, (ii) the date on which the Executive resigns his employment with the Company prior to December 31, 2012 (iii) the date on which the Executive’s employment is
terminated by the Company for Cause (such period, the “Interim Period”), the Executive shall hold the title of Executive Vice President and provide such assistance as may be requested, and shall have such duties, responsibilities
and authority as may be assigned by the CEO or his designees from time to time. It is agreed that the Executive’s time commitment during the Interim Period may be substantially less than that required from the Executive during the Transition
Period, but it is expected that the Executive’s level of services, at all time during the Interim Period, will not be less than 20% of the level of services the Executive provides during the Transition Period. 

(c) Separation Date. For the purposes of this Agreement, “Separation Date” means the first to occur
of (i) the date on which the Executive’s employment is terminated by the Company for Cause, (ii) the date on which the Executive resigns his employment with the Company prior to December 31, 2012 and (iii) December 31,
2012. 
 2. Compensation. As compensation for the Executive’s continuing employment and service hereunder, in
recognition of the Executive’s contributions to the Company and as consideration for the Releases (as defined below), the Executive’s agreement to the Transition Period, the Interim Period and the respective terms and conditions thereof,
and the other promises of the Executive contained in this Agreement, which shall be deemed to include the Executive’s agreement to (A) remain in the employ of the Company as described above through the Separation Date, (B) comply with
the Company’s Code of Business Conduct and Ethics and other policies relating to conduct, as in effect from time to time and applicable to its executive officers, and (C) comply with all covenants regarding confidential information,
non-solicitation, non-disparagement, intellectual property and non-competition to which the Executive has agreed as part of his employment with the Company, including, but not limited to, those in the Confidentiality, Intellectual Property,
Nonsolicitation & Nondisparagement Agreement with the Executive (as amended from time to time, the “Confidentiality Agreement,” a copy of which is attached hereto as Exhibit A), and the provisions regarding
detrimental conduct contained in any Restricted Stock Unit Award Agreements between the Executive and the Company (collectively, the “RSU Agreements”) and/or any Stock Appreciation Rights Award Agreements between the Executive and
the Company (collectively, the “SAR Agreements”) (the covenants described in the immediately preceding clauses (A) through (C) of this Section 2 are collectively referred to herein as the
“Covenants”); and provided, that the Executive timely signs and returns this 

  
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Agreement, complies with Covenants and complies with Sections 6, 8 and 12 below and does not revoke the Releases, the Company will provide Executive with the following compensation and benefits:

 (a) Base Salary and Benefit Plan Participation. During the Transition Period and the Interim Period, the
Executive will (i) receive his base salary as in effect on the Effective Date and (ii) participate in the Company’s retirement and welfare benefit plans, perquisite programs, expense reimbursement and vacation policies, as such plans,
programs and policies may be in effect from time to time (collectively, the “Plans”). 
 (b) Benefits
Upon Separation Date. Subject to the Executive (i) not terminating his employment with the Company prior to August 15, 2012 and (ii) not being terminated by the Company for Cause, Executive shall be entitled to the following
benefits: 
 (i) 2012 Annual Bonus. Executive shall receive a bonus equal to $540,000 for 2012, payable in 2013,
at such time as the annual bonuses for 2012 are paid by the Company to its executive officers, but no later than March 15, 2013. 
 (ii) Separation Pay. Executive shall receive a lump sum payment of $1,000,000 (“Separation Pay”) payable as part of the first normally scheduled payroll following the 6
month anniversary of the Separation Date. 
 (iii) Additional Consideration. As further compensation for the
Executive’s continuing employment and service hereunder, the Executive’s agreement to the Transition Period and Interim Period, and as further consideration for the Executive’s execution of the Releases (defined below) and the other
promises and agreements set forth herein, on the first regularly scheduled payroll following the date that the Second Release becomes effective, the Company shall pay the Executive an additional lump sum payment of $1,055,000; provided that if the
Executive violates the Covenants or Sections 8 and/or 12 on or prior to the Separation Date, the Company shall not be obligated to make the payment described in this Section 2(b)(iii), or if already paid, the Executive shall repay any amounts
paid by the Company pursuant to this Section 2(b)(iii) within five business days of written demand therefor by the Company. 
 (iv) Benefits Continuation. Following the Separation Date, the Executive shall remain covered under the Company’s medical, dental, vision and life benefit plans (as in effect from time
to time) (collectively, the “Hyatt Welfare Plans”) as if he were an active employee through the earlier of (A) the first anniversary of the Separation Date, or (B) the date the Executive is eligible for coverage
(regardless of whether he elects such coverage) under any other employer’s group medical, dental, vision or life plans as a result of his employment (the “Benefit Continuation Period”). Upon expiration of the Benefit
Continuation Period, the Executive shall be eligible to elect continuation coverage under the Hyatt Welfare Plans to the extent required by the Consolidated Omnibus Budget Reconciliation Act, Section 4980B of the Internal Revenue Code and any
similar state law (“COBRA”), with the last day of the Benefit Continuation Period being the date on which Executive shall be deemed to have lost coverage as a result of his termination of employment with the Company. The Executive
and the Company agree that the continuation of benefits under the Hyatt Welfare Plans during the Benefit Continuation Period is in addition to and not concurrent with the requirements of COBRA. 

  
 3 

 (v) Outplacement. The Company at its sole expense, as incurred, shall engage
and pay on behalf of Executive a nationally recognized outplacement firm selected by the Company (subject to approval by the Executive, which shall not be withheld unreasonably) to provide outplacement services to the Executive; provided that the
Company shall not be required to pay more than an aggregate of $100,000 in respect of such outplacement services. 
 (vi)
Miscellaneous. Following the Separation Date, Executive shall be permitted to retain the Company-owned MacBook Air lap-top computer, computer screen, printer, iPad and iPhone currently being used by Executive; provided Executive shall
be responsible for all post-Separation Date cell-phone and data charges, and Executive shall allow the Company to remove all Company information and programs from all such equipment. The Company will also provide Executive and his spouse with
Diamond level status under its Gold Passport program for a period of two years following the Separation Date. The Company will not challenge any claim by the Executive for unemployment compensation. The Executive shall have 30 days following the
Separation Date to exercise any vested SARs. The Company agrees that the Executive may elect to implement a 10(b)5-1 trading plan with Morgan Stanley Smith Barney if permitted by and in accordance with applicable law. The Company agrees that
following the Transition Date, the Executive may join the board of a public or private company so long as said company is not in the global hospitality business. 
 (c) Legal Fees. The Company will reimburse Executive up to a maximum of $15,000 for legal fees actually incurred in connection with the preparation and review of this Agreement. Such
reimbursement shall be made in accordance with the Company’s normal business reimbursement policies upon presentation of proper documentation, but not later than December 31 of the year following the year in which the expense was incurred.

 3. No Additional Entitlements. The Executive understands and acknowledges that he will have no further
entitlements, other than (a) those recited in this Agreement and (b) accrued rights and entitlements that have vested as of the Separation Date under the Plans. The Company has provided the Executive with a benefits summary and will
provide an updated benefits summary to the Executive on or before the Separation Date. The Company hereby acknowledges that the Executive’s rights to benefits described in the benefits summary are fully vested and are not affected by anything
in this Agreement. The Executive hereby acknowledges that the Executive has no interest in or claim of right to reinstatement, reemployment or employment with the Company, and the Executive forever waives any interest in or claim of right to any
future employment by the Company. 
 4. Withholding. All payments required to be made by the Company hereunder to
the Executive shall be subject to withholding of such amounts relating to taxes as the Company may reasonably determine it should withhold pursuant to any applicable law or regulation. Additionally, the Executive agrees and consents that, during the
Benefits Continuation Period, the amount of contributions that an active employee of the Company would be required to pay for coverage elected by the Executive under the Hyatt Welfare Plans will be withheld from the Separation Pay. 

5. Section 409A Compliance. It is intended that any amounts payable under this Agreement and the Company’s and
the Executive’s exercise of authority or discretion hereunder 

  
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shall comply with the provisions of Internal Revenue Code Section 409A and the treasury regulations and guidance thereunder (“Section 409A”) so as not to subject the
Executive to the payment of interest and tax penalty which may be imposed under Section 409A. Notwithstanding anything contained herein to the contrary, if, at the Executive’s separation from service, (a) the Executive is a specified
employee as defined in Section 409A and (b) any of the payments or benefits provided hereunder constitute deferred compensation under Section 409A, then, and only to the extent required by such provisions, the date of payment of such
payments or benefits otherwise provided shall be delayed for a period of six months following the separation from service, and any amounts so delayed shall be paid during the seventh month following separation from service. Any reimbursement amounts
payable under this Agreement shall be paid promptly after receipt of a properly documented request for reimbursement from the Executive, provided no amount shall be paid later than December 31 of the year following the year during which the
reimbursable amounts were incurred by Executive. 
 6. Execution of Agreement; Release of Claims. The payments and
benefits to the Executive pursuant to this Agreement are contingent upon (a) the Executive executing and delivering to the Company this Agreement and a release of claims in the form attached to this Agreement as Exhibit B (the
“Initial Release”) by 5:00 p.m. (CDT) on May 1, 2012, (b) the Executive executing and delivering to the Company on the first business day following the Separation Date, a release of claims in substantially the same form as
the Release, effective as of that date (the “Second Release” and together with the Initial Release, the “Releases”) and (c) the Executive not revoking either of the Releases. 

7. Return of Property. On or prior to the Separation Date, the Executive will return all of the Company’s property,
other than those items set forth in Section 2(b)(vi). Such property includes, but is not limited to, the original and any copies of any confidential information or trade secrets, PDAs, keys, pass cards, building identity cards, mobile
telephones, tablet devices, laptop computers, corporate credit cards, customer lists, files, brochures, documents or computer disks or printouts, equipment and any other item relating to the Company and its business, provided that it would not be a
violation of this Section 7 for the Executive to retain copies of publicly-filed documents. Further, other than in the performance of the Executive’s duties, the Executive will not take, procure, or copy any property of the Company before,
on, after or in anticipation of the Separation Date. For purposes of this Section 7, “Company” shall include the Company, its subsidiaries and affiliates. 
 8. Cooperation. In consideration for the promises and payments by the Company pursuant to this Agreement, at the request of the Company, the Executive agrees to cooperate to the fullest
extent possible with respect to matters involving the Company about which the Executive has or may have personal knowledge (other than the Executive’s separation or any other claim the Executive may bring against the Company that is not
released under the Releases), including any such matters which may arise after the Separation Date. For purposes of this Section 8, “Company” shall include the Company, its subsidiaries and affiliates. 

9. Resignations. Effective as of the Transition Date, unless otherwise requested by the Company in writing, the Executive
will, automatically and without further action on the part of the Executive or any other person or entity, resign from all offices, boards of directors (or similar governing bodies), committees of such boards of directors (or similar governing
bodies) 

  
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and committees of the Company, its subsidiaries and affiliates, other than the office of Executive Vice President of the Company, from which office the Executive will automatically and without
further action on the part of the Executive or any other person or entity, resign on the Separation Date. In addition, and without limiting the effectiveness of the resignations in the immediately preceding sentence, on the Transition Date, the
Executive will execute and deliver to the Company an omnibus resignation in the form attached hereto as Exhibit C-1, which shall exclude the office of Executive Vice President of the Company, with respect to which Executive will deliver a
separate written resignation substantially in the form attached hereto as Exhibit C-2 on the Separation Date. The Executive agrees that he shall execute any such further documents and instruments as may be reasonably necessary or appropriate
to carry out the intent of this Section 9. 
 10. Non-Reliance. The Executive represents to the Company and
the Company represents to the Executive that in executing this Agreement they do not rely and have not relied upon any representation or statement not set forth herein made by the other or by any of the other’s agents, representatives or
attorneys with regard to the subject matter, basis or effect of this Agreement, or otherwise. The Executive (a) has reviewed with his own advisors the tax and legal consequences of entering into and the payments under this Agreement,
(b) is relying solely on such advisors and not on any statements or representations of the Company, its agents or advisors, and (c) understands that he (and not the Company) shall be responsible for his own tax liability that may arise as
a result of entering into and the payments under this Agreement, other than the Company’s liability with respect to any required tax withholdings thereon. 
 11. Assignability. The rights and benefits under this Agreement are personal to the Executive and such rights and benefits shall not be subject to assignment, alienation or transfer, except
to the extent such rights and benefits are lawfully available to the estate or beneficiaries of the Executive upon death. The Company may assign this Agreement to any parent, affiliate or subsidiary and shall require any entity which at any time
becomes a successor whether by merger, purchase, or otherwise acquires all or substantially all of the assets, stock or business of the Company, to expressly assume this Agreement. 

12. Confidentiality, Intellectual Property, Non-Solicitation and Non-Disparagement and Non-Competition. The Company and the
Executive acknowledge and agree that the provisions of the Confidentiality Agreement, and all other Covenants shall continue to apply to the Executive prior to and after the Separation Date as if fully set forth in this Agreement. In addition, and
in consideration of the compensation described in Section 2 hereof, and the Company’s commitments hereunder, the Company and the Executive also agree as follows: 
 (a) Confidentiality. The Executive acknowledges and agrees that references in the Confidentiality Agreement and herein to “affiliates” of the Company include, but are not limited
to, individuals and entities known by the Executive to be member of the Pritzker family and the Pritzker family business interests, including, without limitation, The Pritzker Organization, or directors, officers, trustees and employees of each such
trust or Pritzker family business interest. For the purposes of this Agreement, the term “Pritzker family business interests” means (i) various lineal descendants of Nicholas J. Pritzker, deceased, and spouses and adopted children of
such descendants, (ii) various trusts for the benefit of the individuals described in clause (i) and trustees thereof and (iii) various entities owned and/or controlled, directly and/or indirectly, by the individuals and trusts
described in clauses (i) and (ii) above. 

  
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 (b) Non-Solicitation. The Executive further agrees that the provisions
of Section 3 of the Confidentiality Agreement relating to non-solicitation of employees shall apply for a period of twenty four months following the Separation Date and shall be modified and expanded to include the Executive’s agreement
not to, directly or indirectly, induce, solicit, or attempt to persuade any employee, or individual who is, or at any time during the six month period ending on the Separation Date was an employee of the Company, to accept employment with a company,
organization or other association at which the Executive is then employed, engaged or associated. 
 (c)
Non-Disparagement. At all times prior to and after the Separation Date, the Executive will not disparage, place in a false light or criticize, orally or in writing, the business, products, policies, decisions, directors, officers or
employees of the Company to any person. The Company also agrees that none of the CEO, any executive officer who reports directly to the CEO or the Executive Chairman will disparage, place in false light or criticize the Executive to any person or
entity either orally or in writing. 
 (d) Non-Competition. During the period from the date hereof through twelve
months after the Separation Date, the Executive agrees he will not directly or indirectly (i) work or serve (as an employee, consultant, advisor, owner or otherwise) (x) in any business or activity which competes anywhere in the
Company’s worldwide marketplace with any product or service provided by the Company, including any product or service under active consideration by the Company, or (y) for or on behalf of any person or entity on any activity that relates
to any transaction or interaction between that person or entity and the Company; or (ii) encourage, solicit or attempt to induce any customer of the Company to reduce, restrict, terminate or modify in any manner adverse to the Company, its
business relationship with the Company or to shift its business to any other supplier of competing goods or services. 
 (e)
Injunctive Relief. It is recognized and acknowledged by the Executive that a breach of the covenants contained in this Section 12 will cause irreparable damage to the Company, its subsidiaries and affiliates and their respective
goodwill, the exact amount of which will be difficult or impossible to ascertain, and that the remedies at law for any such breach will be inadequate. Accordingly, the Executive agrees that in the event of a breach of any of the covenants contained
in this Section 12, in addition to any other remedy which may be available at law or in equity, the Company will be entitled to specific performance and injunctive relief. The Executive agrees not to raise as a defense or objection to the
request or granting of such relief that any breach of this Agreement is or would be compensable by an award of money damages, and the Executive agrees to waive any requirements for the securing or posting of any bond in connection with such remedy.
The provisions of this Section 12(e) shall apply to the Company with respect to the second sentence of Section 12(c) mutatis mutandis. 
 (f) For purposes of this Section 12, “Company” shall include the Company, its subsidiaries and affiliates. 

  
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 13. Entire Agreement. The Executive acknowledges and agrees that this
Agreement, together with the Exhibits hereto and the other documents, Company plans and Company policies referred to herein, including, without limitation the Confidentiality Agreement, RSU Agreements, SAR Agreements and all agreements thereunder or
related thereto to which Executive is a party) constitute the entire agreement and understanding between the parties and supersedes any prior agreements, written or oral, with respect to the subject matter hereof, including the termination of the
Executive’s employment after the Effective Date and all amounts to which the Executive shall be entitled whether during the Transition Period, the Interim Period or thereafter, other than as specifically provided in this Agreement. The
Executive acknowledges and agrees that this Agreement supersedes the terms regarding the Executive’s termination of employment set forth in that certain letter agreement dated June 9, 2008 between Executive and the Company. 

14. Severability/Reasonable Alteration. In the event that any part or provision of this Agreement shall be held to be
invalid or unenforceable by a court of competent jurisdiction, the remaining provisions thereof shall nevertheless continue to be valid and enforceable as though the invalid or unenforceable part or provision had not been included therein. Further,
in the event that any part or provision hereof shall be declared by a court of competent jurisdiction to exceed the maximum time period, scope or activity restriction that such court deems reasonable and enforceable, then the parties expressly
authorize the court to modify such part or provision so that it may be enforced to the maximum extent permitted by law. 
 15.
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the Executive and the Company to express their mutual intent, and no rule of strict construction will be applied against the
Executive or the Company. 
 16. Insurance. The Company presently maintains general liability insurance on an
occurrence basis which covers the professional activities of employed accountants and other professionals of the Company. The Company will continue to provide such coverage for the past activities of the Executive to the same extent as such coverage
is provided with respect to the past activities of other former employed accountants and other professionals of the Company. In addition, the Company presently maintains directors and officers liability insurance covering its directors and officers.
The Company will continue to cover the Executive under such insurance to the same extent the Company maintains such insurance from time to time for its directors and officers. 
 17. Applicable Law, Venue and Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois, without regard to conflicts of laws
principles, rules or statutes of any jurisdiction. The parties irrevocably agree that all actions to enforce an arbitrator’s decision pursuant to Section 19 of this Agreement may be instituted and litigated in federal, state or local
courts sitting in Chicago, Illinois and each of such parties hereby consents to the jurisdiction and venue of such court, waives any objection based on forum non conveniens and any right to a jury trial as set forth in Section 18 of this
Agreement. 
 18. Waiver of Jury Trial. EACH OF THE EXECUTIVE AND THE COMPANY HEREBY WAIVES, RELEASES AND
RELINQUISHES ANY AND ALL RIGHTS HE/IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTIONS ARISING 

  
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DIRECTLY OR INDIRECTLY AS A RESULT OR IN CONSEQUENCE OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY CLAIM OR ACTION TO REMEDY ANY BREACH OR ALLEGED BREACH HEREOF, TO ENFORCE ANY TERM
HEREOF, OR IN CONNECTION WITH ANY RIGHT, BENEFIT OR OBLIGATION ACCORDED OR IMPOSED BY THIS AGREEMENT. 
 19.
Arbitration. Any dispute or controversy arising under or in connection with this Agreement, the Release, the Executive’s employment by and/or relationship with the Company and the Executive’s separation from the Company shall
be settled exclusively by confidential arbitration, conducted before a single neutral arbitrator in Chicago, Illinois in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association
(“AAA”) then in effect, in accordance with this Section 19, except as otherwise prohibited by any nonwaivable provision of applicable law or regulation. The parties hereby agree that the arbitrator shall construe, interpret and
enforce this Agreement in accordance with its express terms, and otherwise in accordance with the governing law as set forth in Section 17 above. Judgment may be entered on the arbitration award in any court having jurisdiction, provided,
however, that the Company shall be entitled to seek a restraining order or injunction in any court of competent jurisdiction to prevent any continuation of any violation of the provisions of this Agreement and the Executive hereby consents that
such restraining order or injunction may be granted without requiring the Company to post a bond. Unless the parties otherwise agree, a single arbitrator shall be selected in accordance with the procedures set forth in such National Rules and only
individuals who are on the AAA register of arbitrators shall be selected as an arbitrator. Within 20 days of the conclusion of the arbitration hearing, the arbitrator shall prepare written findings of fact and conclusions of law. It is mutually
agreed that the written decision of the arbitrator shall be valid, binding, final and enforceable by any court of competent jurisdiction. The Company shall pay all administrative fees, and the fees and expenses of the arbitrator. In the event action
is brought pursuant to this Section 19, the arbitrator shall have authority to award fees and costs to the prevailing party, in accordance with applicable law. If in the opinion of the arbitrator there is no prevailing party, then each party
shall pay its own attorneys’ fees and expenses. 
 20. Counterparts and Facsimiles. This Agreement may be
executed in several counterparts, each of which shall be deemed as an original, but all of which together shall constitute one and the same instrument; signed copies of this Agreement may be delivered by .pdf, .jpeg or fax and will be accepted as an
original. 
 21. Expenses. Except as expressly set forth in Section 2(c) above, each of the Company and the
Executive shall bear its/his own costs and expenses in connection with the negotiation and documentation of this Agreement. 

22. No Reliance Upon Other Statements. This Agreement is entered into without reliance upon any statement or representation
of any party hereto or parties hereby released other than the statements and representations contained in writing in this Agreement. 
 23. Amendment/Waiver. This Agreement may not be modified without the express written consent of the parties hereto. Any failure by any party to enforce any of its rights and privileges under
this Agreement shall not be deemed to constitute waiver of any rights and privileges contained herein. 

  
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 24. Notice. Any notice to be given hereunder shall be in writing and shall be
deemed given when mailed by certified mail, return receipt requested, addressed as follows: 
  

					
		  	To the Executive at:	  	
			
		  	 To the most recent address provided by
 the Executive to the Company
	  	
			
		  	To the Company at:	  	
			
		  	 Hyatt Hotels Corporation

71 South Wacker Drive
 12th Floor
 Chicago, Illinois 60606
 Attn: President and Chief Executive Officer
	  	

 25. Company Subsidiaries, Affiliates and Divisions. For purposes of this Agreement,
references to “subsidiaries,” “affiliates” or “divisions” of the Company shall mean and include those entities or persons publicly identified by the Company to a subsidiary, affiliate or division of the Company and such
other entities or persons actually known by the Executive to be a subsidiary, affiliate or division of the Company. 
 [Signature
Page Follows] 

  
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 IN WITNESS WHEREOF, each of the parties hereto has duly executed this Transition Agreement
as of the date and year first set forth above. 
  

			
	HYATT HOTELS CORPORATION
		
	By:	 	/s/ Mark S. Hoplamazian
	Its:	 	President and Chief Executive Officer
	
	EXECUTIVE
	
	/s/ Harmit J. Singh
	Harmit J. Singh

  
 11AMENDED AND RESTATED 1996 EXECUTIVE INCENTIVE COMPENSATION PLAN

 Exhibit 10.3 
 HEALTH MANAGEMENT ASSOCIATES, INC. 
 AMENDED AND RESTATED 1996 EXECUTIVE
INCENTIVE COMPENSATION PLAN 
 AWARD NOTICE 

 

					
	Grantee:	  	  
	  	
			
	Types of Awards:	  	 A.     Restricted Stock Award consisting of two
components:
  
 (i) a Time Vesting Component equal to
one-half of the Number of Shares; and
  
 (ii) a
Performance Vesting Component equal to one-half of the Number of Shares.
  
 B.     Cash Performance Award
	  	
			
	 Number of Shares:
	  	  
	  	
			
	 Cash Amount:
	  	  
	  	
			
	Date of Grant:	  	 February 21, 2012
	  	

 1. Grant of Award. This Award Notice serves to notify you that the Compensation Committee (the
“Committee”) of the Board of Directors of Health Management Associates, Inc. (“Health Management”) hereby grants to you, under Health Management’s Amended and Restated 1996 Executive Incentive Compensation Plan (the
“Plan”): (a) a restricted stock award for the Number of Shares of Health Management’s Class A Common Stock, par value $0.01 per share (the “Common Stock”) set forth above, consisting of a time vesting component
(the “Time Vesting Component”) and a performance vesting component (the “Performance Vesting Component,” and together with the Time Vesting Component, the “Restricted Stock Award”); and (b) a cash performance award
for the Cash Amount set forth above (the “Cash Performance Award,” and together with the Restricted Stock Award, the “Award”), each on the terms and conditions set forth in this Award Notice and the Plan. The Plan is incorporated
herein by reference and made a part of this Award Notice. A copy of the Plan is available from Health Management’s Human Resources Department upon request. You should review the terms of this Award Notice and the Plan carefully. The capitalized
terms used and not defined in this Award Notice are defined in the Plan. 
 2. Definitions. The following terms have the
meanings set forth in this Section 2: 
 (a) “Adjusted EBITDA” means, with respect to the First Grant
Year, Health Management’s earnings before interest, income taxes, depreciation, amortization and non-controlling interests for that Grant Year, as adjusted to exclude unusual and non-recurring items for that Grant Year. 

(b) “Adjusted EBITDA Requirement” means the achievement by Health Management, as determined by the Committee, of
Adjusted EBITDA in an amount equal to the necessary percentage of Targeted Adjusted EBITDA as set forth in the following table: 
  

									
	 Percentage of Targeted Adjusted EBITDA
Achieved During Grant Year
	  	Percentage of Performance Shares
that Becomes the Earned
Performance Shares at the
Conclusion of the First Grant Year
and Becomes Eligible for
Vesting	 	 	Percentage of Cash Performance
Award that Becomes the Earned
Cash Amount at the Conclusion
of the First Grant Year and
Becomes
Eligible for Vesting	 
	 Less than 90.0%
	  	 	0	% 	 	 	0	% 
	 90.0% - 92.4%
	  	 	50	% 	 	 	50	% 
	 92.5% - 94.9%
	  	 	60	% 	 	 	60	% 
	 95.0% - 97.4%
	  	 	75	% 	 	 	75	% 
	 97.5% - 99.9%
	  	 	90	% 	 	 	90	% 
	 100.0% or more
	  	 	100	% 	 	 	100	% 

 (c) “Employer” means Health Management or one of its subsidiary hospitals
or other majority-owned or affiliated entities. 
 (d) “Fifth Grant Year” means the fiscal year of Health
Management immediately following the conclusion of the Fourth Grant Year. 
 (e) “First Grant Year” means the
fiscal year of Health Management during which the Date of Grant occurs. 
 (f) “Fourth Grant Year” means the
fiscal year of Health Management immediately following the conclusion of the Third Grant Year. 
 (g) “Grant
Year” means the First Grant Year, Second Grant Year, Third Grant Year, Fourth Grant Year and/or Fifth Grant Year, as the context suggests. 
 (h) “Second Grant Year” means the fiscal year of Health Management immediately following the conclusion of the First Grant Year. 

(i) “Targeted Adjusted EBITDA” means the total targeted annual Adjusted EBITDA established by Health Management’s
Board of Directors as reflected in its approved profit plan for the First Grant Year. 
 (j) “Third Grant Year”
means the fiscal year of Health Management immediately following the conclusion of the Second Grant Year. 
 3. Time Vesting
Component. Subject to the terms set forth in this Award Notice and the Plan, the number of shares of the Common Stock represented by the Time Vesting Component of the Restricted Stock Award (the “Time-Based Shares”) will vest as
follows: 
 (a) provided that you have remained an Eligible Person at all times from the Date of Grant until March 1 of the
Second Grant Year, one-fourth of the Time-Based Shares will vest on March 1 of the Second Grant Year; 

  
 2 

 (b) provided that you have remained an Eligible Person at all times from the Date of Grant
until March 1 of the Third Grant Year, an additional one-fourth of the Time-Based Shares will vest on March 1 of the Third Grant Year; 
 (c) provided that you have remained an Eligible Person at all times from the Date of Grant until March 1 of the Fourth Grant Year, an additional one-fourth of the Time-Based Shares will vest on
March 1 of the Fourth Grant Year; and 
 (d) provided that you have remained an Eligible Person at all times from the Date
of Grant until March 1 of the Fifth Grant Year, the remaining one-fourth of the Time-Based Shares will vest on March 1 of the Fifth Grant Year. 
 4. Performance Vesting Component. The number of shares of Common Stock represented by the Performance Vesting Component of the Restricted Stock Award are referred to herein as the “Performance
Shares.” The portion of the Performance Shares that is eligible for vesting based upon the achievement by Health Management of the Adjusted EBITDA Requirement during the First Grant Year is referred to herein as the “Earned Performance
Shares,” and will be determined at the conclusion of the First Grant Year based upon the achievement by Health Management of the Adjusted EBITDA Requirement during the First Grant Year. Subject to the terms set forth in this Award Notice and
the Plan, including Committee certification pursuant to Section 6, the Earned Performance Shares will vest as follows: 

(a) provided that you have remained an Eligible Person at all times from the Date of Grant until March 1 of the Second Grant Year,
one-fourth of the Earned Performance Shares will vest on March 1 of the Second Grant Year; 
 (b) provided that you have
remained an Eligible Person at all times from the Date of Grant until March 1 of the Third Grant Year, an additional one-fourth of the Earned Performance Shares will vest on March 1 of the Third Grant Year; 

(c) provided that you have remained an Eligible Person at all times from the Date of Grant until March 1 of the Fourth Grant Year,
an additional one-fourth of the Earned Performance Shares will vest on March 1 of the Fourth Grant Year; and 
 (d)
provided that you have remained an Eligible Person at all times from the Date of Grant until March 1 of the Fifth Grant Year, the remaining one-fourth of the Earned Performance Shares will vest on March 1 of the Fifth Grant Year.

 5. Cash Performance Award. The portion of the Cash Performance Award that is eligible for vesting and payment based
upon the achievement by Health Management of the Adjusted EBITDA Requirement during the First Grant Year is referred to herein as the “Earned Cash Amount,” and will be determined at the conclusion of the First Grant Year based upon the
achievement by Health Management of the Adjusted EBITDA Requirement during the First Grant Year. Subject to the terms set forth in this Award Notice and the Plan, including Committee certification pursuant to Section 6, the Earned Cash Amount
will vest and be paid as follows: 
 (a) provided that you have remained an Eligible Person at all times from the Date of Grant
until March 1 of the Second Grant Year, one-fourth of the total amount of the Earned Cash Amount will vest on March 1 of the Second Grant Year and will be paid to you as soon as administratively practicable thereafter, but in no event
later than March 31 of the Second Grant Year; 

  
 3 

 (b) provided that you have remained an Eligible Person at all times from the Date of Grant
until March 1 of the Third Grant Year, an additional one-fourth of the total amount of the Earned Cash Amount will vest on March 1 of the Third Grant Year and will be paid to you as soon as administratively practicable thereafter, but in
no event later than March 31 of the Third Grant Year; 
 (c) provided that you have remained an Eligible Person at all
times from the Date of Grant until March 1 of the Fourth Grant Year, an additional one-fourth of the total amount of the Earned Cash Amount will vest on March 1 of the Fourth Grant Year and will be paid to you as soon as administratively
practicable thereafter, but in no event later than March 31 of the Fourth Grant Year; and 
 (d) provided that you have
remained an Eligible Person at all times from the Date of Grant until March 1 of the Fifth Grant Year, the remaining one-fourth of the total amount of the Earned Cash Amount will vest on March 1 of the Fifth Grant Year and will be paid to
you as soon as administratively practicable thereafter, but in no event later than March 31 of the Fifth Grant Year. 
 6.
Committee Certification. As soon as practicable following the end of the First Grant Year, the Committee will determine and certify in writing if the Adjusted EBITDA Requirement was satisfied, and the Earned Performance Shares and the Earned
Cash Amount, if any, to be vested and paid based on the certified levels of performance. 
 7. Effect of Death, Termination
or Retirement. Without limiting the vesting and payment requirements set forth in Sections 3, 4 and 5, in the event of the termination of your employment with Health Management prior to the complete vesting of the Award, or if you are otherwise
not an Eligible Person prior to the complete vesting of the Award, any and all unvested and unpaid portions of the Restricted Stock Award and Cash Performance Award will be forfeited and will not vest or be paid. Notwithstanding the foregoing, if
your employment with Health Management terminates: 
 (a) because of your retirement from Health Management at or after the age
of 62, the Time-Based Shares, the portion, if any, of the Performance Shares that became the Earned Performance Shares before the date of your retirement, and the portion, if any, of the Cash Performance Award that became the Earned Cash Amount
before the date of your retirement will continue to vest and be paid in the manner and on the dates set forth above; provided, however, that the portion, if any, of the Performance Shares, including unvested dividends, that did not become the Earned
Performance Shares before the date of your retirement, and the portion of the Cash Performance Award, if any, that did not become the Earned Cash Amount before the date of your retirement, will be forfeited; and, 

  
 4 

 (b) because of your death or total and permanent disability, the Time-Based Shares, the
portion, if any, of the Performance Shares that becomes Earned Performance Shares before the date that is 13 months after the date that you die or become totally and permanently disabled and the portion, if any, of the Cash Performance Award that
becomes the Earned Cash Amount before the date that is 13 months after the date that you die or become totally and permanently disabled will continue to vest and be paid in the manner and on the dates set forth above; provided, however, that:

 (i) the portion, if any, of the Performance Shares, including unvested dividends, that will not have become Earned
Performance Shares before the date that is 13 months after the date that you die or become totally and permanently disabled will be forfeited; 
 (ii) the portion, if any, of the Cash Performance Award that that will not have become the Earned Cash Amount before the date that is 13 months after the date that you die or become totally and
permanently disabled will be forfeited; and, 
 (iii) the portion, if any, of the Performance Shares and the portion, if any,
of the Cash Performance Award that will not have vested by the third anniversary of the date that you died or became disabled will be forfeited. 
 8. Effect of Change in Control. Upon the occurrence of a Change in Control of Health Management, your rights will be determined in accordance with Section 9 of the Plan. For purposes of the
Performance Vesting Component and the Cash Performance Award, the Adjusted EBITDA Requirement will be deemed to have been satisfied at a level of 100%. 
 9. Effect of Breach of Restrictive Covenants. Notwithstanding any other provision of this Award Notice, the unvested or unpaid portion of the Award shall be forfeited on the day on which you breach
any provision of Section 10. 
 10. Restrictive Covenants. In consideration of the grant of the Award, you covenant
and agree to observe each of the following promises: 
 (a) Non-Competition. 

(i) You will not during employment and for 12 months after the termination of employment for any reason, directly or indirectly (whether
as director, stockholder, owner, partner, consultant, principal, employee, agent or otherwise): (A) compete against an Employer in the business of owning, leasing, acquiring or operating hospitals, health care facilities, or related entities in
markets which an Employer currently serves or has identified as a market an Employer plans to serve; or (B) accept employment with or otherwise perform services that an Employer performs for any hospital, health care facility, or related entity
that an Employer, or its related companies lease or manage. 
 (ii) Notwithstanding the terms and conditions of
Section 10(a)(i) to the contrary, Health Management covenants and agrees that the restrictions on competition and acceptance of subsequent employment contained therein shall not apply if your employment is terminated by an Employer for reasons
other than cause. 

  
 5 

 (b) Non-solicitation/Employer Interests. During your employment and for
12 months after the termination of your employment for any reason, you will not, directly or indirectly (whether as director, stockholder, owner, partner, consultant, principal, employee, agent or otherwise): (i) solicit, induce, entice,
hire, employ or attempt to employ any individual employed by an Employer as of the termination of your employment or during the prior 12 months; or (ii) take any action which is intended, or would reasonably be expected to, adversely affect an
Employer, its business, reputation, or its relationship with its clients or prospective clients, vendors, or other service providers, or any individual or entity with which an Employer maintains a business relationship. 

(c) Non-Disclosure. You will hold all of each Employer’s Confidential Information in strictest confidence, and use it solely
for the purpose of performing your duties for an Employer and for no other purpose. You will not otherwise, directly or indirectly, take, publish, use or disclose any of an Employer’s Confidential Information during your employment or
thereafter, except as may be required by law; provided, that you have first given prompt written notice to the Employer of such legal requirement in enough time for the Employer to obtain an appropriate protective order or other remedy. 

(d) Damages. You acknowledge that damages to an Employer resulting from any breach of this Section 10 will be substantial but
difficult to ascertain. You therefore agree to indemnify and hold harmless Health Management and its directors, stockholders, and affiliated companies from and against any and all claims, suits, obligations, liabilities and expenses (including
without limitation attorneys’ fees and expenses) arising out of or relating to any breach or nonperformance of the covenants and obligations set forth in this Section 10. You further agree that this provision for damages shall not limit or
impair in any way an Employer’s right to obtain other remedies, or injunctive or other equitable relief, as specified herein. 
 (e) Enforcement. You acknowledge that without limiting the provisions of Section 10(d), if you violate this Section 10, an Employer will suffer irreparable harm and have no adequate
remedy at law. You therefore consent to enforcement of this Award Notice by means of a temporary injunction or other appropriate equitable relief in any competent court, without the necessity of proving the inadequacy of money damages, which shall
be in addition to any other remedies an Employer may have under this Award Notice or otherwise. You hereby submit to the jurisdiction of the Courts of the State of Florida for the purpose of such enforcement. You hereby waive, and agree not to
assert, as a defense in any such action or proceeding, any claim that you were not subject thereto or that venue is improper for lack of residence, inconvenient forum or otherwise. You agree that service of process may be made upon you by certified
mail at your address last known to Health Management, and you waive your right to a jury trial. 
 (f) Terminology. For
purposes of this Section 10, the term “Confidential Information” shall include trade secrets, know-how and other information that is disclosed to or acquired by you during or in the course of your employment that relates to the
business of an Employer and is not generally available to the public or generally known in the industry in which an Employer is, or may become engaged, including without limitation, any formulas, patterns, devices, inventions, methods, techniques or
processes, or combinations thereof, or compilations of information, records and specifications, acquisition and development data, which are owned 

  
 6 

 
by an Employer and regularly used in the operation of its business and any other information of an Employer relating to its services (offered or to be offered), research, development, marketing,
pricing, customers, clients and prospective customers and clients, suppliers and potential suppliers, business methods, strategies, financial condition, personnel, plans, policies or prospects. 

(g) Survival. The provisions of this Section 10 and your obligations hereunder shall survive any forfeiture of the Award or
any other termination of this Award Notice. 
 11. Performance Awards. The Performance Vesting Component and the Cash
Performance Award are intended to constitute Performance Awards under Section 8 of the Plan and will be interpreted and administered by the Committee consistent with this intention. 

12. Miscellaneous. 
 (a) Plan Controls. The Award is subject to all of the provisions of the Plan, which is hereby incorporated by reference, and is further subject to all the interpretations, amendments, rules and
regulations that may from time to time be promulgated and adopted by the Committee pursuant to the Plan. In the event of any conflict among the provisions of the Plan and this Award Notice, the provisions of the Plan will be controlling and
determinative. 
 (b) Amendment. Except as otherwise provided by the Plan, Health Management may only alter, amend or
terminate the Award with your consent. 
 (c) Limits on Transferability. The Award shall not be pledged, hypothecated or
otherwise encumbered or subject to any lien, obligation or liability to any party (other than Health Management), or assigned or transferred other than by will or the laws of descent and distribution or to a Beneficiary upon your death. Upon any
attempt to transfer, assign, pledge, hypothecate or otherwise dispose of the Award or any right or privilege conferred thereby contrary to the provisions of this Award Notice and the Plan, or upon the sale or levy or attachment or similar process
upon the rights and privileges conferred thereby, the Award shall immediately become null and void. 
 (d) Hedging
Transactions Prohibited. You are prohibited from engaging in any hedging or monetization transactions involving the Restricted Stock Award, as more fully explained in the “Hedging Transactions” section of Health Management’s
Addendum to Policy on Non-Public Information and Trading in HMA Securities – Pre-clearance and Blackout Procedures, as such Addendum or policy may be hereafter amended. 

(e) Book Entry Registration; Issuance of Shares. The Restricted Stock Award will initially be evidenced by book-entry registration
only with notations regarding the applicable restrictions on transfer imposed under the Restricted Stock Award. Subject to Section 5(h) of this Award Notice, upon the written determination by the Committee of the vesting of any shares of Common
Stock subject to the Restricted Stock Award, Health Management will, as applicable and as promptly as practicable following the date of vesting as determined by the Committee, either: (i) remove the notations on any shares of Common Stock
subject to the Restricted Stock Award issued in book-entry form that have vested; or (ii) deliver to you a certificate or certificates evidencing the number of shares of Common Stock subject to the Restricted Stock

  
 7 

 
Award that have vested. The shares of Common Stock may be issued during your lifetime only to you, or after your death to your designated beneficiary, or, in the absence of such beneficiary, to
your duly qualified personal representative. 
 (f) Nonassignability. The shares of Common Stock underlying the
Restricted Stock Award may not, except as otherwise provided in the Plan, be sold, assigned, transferred, pledged, hypothecated, margined or otherwise encumbered in any way prior to the vesting of such shares, whether by operation of law or
otherwise, except by will or the laws of descent and distribution. After vesting, the sale or other transfer of the shares of Common Stock will be subject to applicable laws and regulations under the Securities Act of 1933. 

(g) Rights as a Stockholder. Prior to the vesting of the shares of Common Stock subject to the Restricted Stock Award, you will
have all of the other rights of a stockholder with respect to the shares of Common Stock so awarded, including, but not limited to, the right to receive dividends, if any, as may be declared on such shares from time to time and the right to vote (in
person or by proxy) such shares at any meeting of Health Management’s stockholders. Notwithstanding the foregoing, dividends paid with respect to those shares of Common Stock subject to the Restricted Stock Award that have not vested at the
time of such dividend payment will be held in the custody of Health Management (pursuant to a rabbi trust, escrow or similar arrangement) and will be subject to the same restrictions that apply to the shares of Common Stock subject to the Restricted
Stock Award with respect to which the dividends are issued. Any such dividends will be paid to you, with interest, within 30 days of the date such shares of Common Stock subject to the Restricted Stock Award become vested in accordance with this
Award Notice. 
 (h) Restrictions on Issuance of Shares. If at any time Health Management determines that the listing,
registration or qualification of the shares of Common Stock underlying the Restricted Stock Award upon any securities exchange or under any state or federal law, or the approval of any governmental agency, is necessary or advisable as a condition to
the removal of the notations regarding the applicable restrictions on transfer imposed under the Restricted Stock Award or the issuance of a certificate or certificates evidencing any vested shares of Common Stock subject to the Restricted Stock
Award, such issuance may not be made in whole or in part unless and until such listing, registration, qualification or approval shall have been effected or obtained free of any conditions not acceptable to Health Management. 

(i) No Right to Continued Employment. You understand that this Award Notice does not constitute a contract of employment and that
you or Health Management may terminate your employment at any time, for any or no reason, with or without notice unless a specific term of employment has been agreed to in a separate writing signed by a duly authorized corporate officer of Health
Management. Your right, if any, to continue to serve Health Management as an employee or otherwise will not be enlarged or otherwise affected by this Award Notice. 
 (j) Severability. If any provision of this Award Notice shall be held unlawful or otherwise invalid or unenforceable in whole or in part by a court of competent jurisdiction, such provision shall
(i) be deemed limited to the extent that such court of competent jurisdiction deems it lawful, valid and/or enforceable and as so limited shall remain in full force and effect, 

  
 8 

 
and (ii) not affect any other provision of this Award Notice or part thereof, each of which shall remain in full force and effect. If the making of any payment or the provision of any other
benefit required under this Award Notice shall be held unlawful or otherwise invalid or unenforceable by a court of competent jurisdiction, such unlawfulness, invalidity or unenforceability shall not prevent any other payment or benefit from being
made or provided under this Award Notice, and if the making of any payment in full or the provision of any other benefit required under this Award Notice in full would be unlawful or otherwise invalid or unenforceable, then such unlawfulness,
invalidity or unenforceability shall not prevent such payment or benefit from being made or provided in part, to the extent that it would not be unlawful, invalid or unenforceable, and the maximum payment or benefit that would not be unlawful,
invalid or unenforceable shall be made or provided under this Award Notice. 
 (k) Waiver. Any party’s failure to
insist on compliance or enforcement of any provision of this Award Notice shall not affect its validity or enforceability or constitute a waiver of future enforcement of that provision or of any other provision of this Award Notice. 

(l) Rights of Health Management and Subsidiaries. This Award Notice does not affect the right of Health Management or any of its
subsidiaries to take any corporate action whatsoever, including without limitation its right to recapitalize, reorganize or make other changes in its capital structure or business, merge or consolidate, issue bonds, notes, shares of Common Stock or
other securities, including preferred stock, or options therefor, dissolve or liquidate, or sell or transfer any part of its assets or business. 
 (m) Rules of Construction. The headings given to the Sections of this Award Notice are solely as a convenience to facilitate reference, and are not intended to narrow, limit or affect the substance
or interpretation of the provisions contained herein. The reference to any statute, regulation or other provision of law shall be construed to refer to any amendment to or successor of such provision of law. 

(n) Governing Law. This Award Notice will be governed by and construed in accordance with the laws of the State of Delaware
(without giving effect to such State’s conflicts of law provisions), except that Section 10 and Section 12(i) of this Award Notice will be governed by and construed in accordance with the laws of the State of Florida (without giving
effect to such State’s conflicts of law provisions) and except as may be superseded by applicable federal law. 
 (o)
Section 409A. This Award is intended to be exempt from the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the treasury regulations promulgated and other official guidance issued thereunder, and
shall be administered and interpreted consistent with such intention. 
 (p) Recoupment Policy. Without limiting any
other provision hereof, this Award is subject to the Recoupment Policy for Incentive Compensation set forth in Article VI, Section 8 of Health Management’s Corporate Governance Guidelines, as such policy or guidelines may be hereafter
amended. 
 *    *    *    *    * 

  
 9 

 ACKNOWLEDGEMENT 
 The undersigned acknowledges receipt of, and understands and agrees to be bound by, this Award Notice and the Plan. The undersigned further acknowledges that: (i) this Award Notice and the Plan set
forth the entire understanding between him and Health Management regarding the Award granted by this Award Notice; (ii) this Award Notice and the Plan supersede all prior oral and written agreements on that subject; and (iii) cash
dividends paid with respect to the shares of Common Stock subject to the Restricted Stock Award will be held in the custody of Health Management in the manner set forth in Section 12(g). 

 

					
	  
	 		 	  

	Name	 		 	Date

  
 10

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