Document:

Form of Stock Appreciation Rights Award Agreement

 Exhibit 10.13 
 GLOBAL HYATT CORPORATION 
 Stock Appreciation Rights Award Agreement 
 Participant: [                    ] 

The following sets forth the terms of your Global Hyatt Corporation Stock Appreciation Rights (“SAR”) Award. 
 STOCK APPRECIATION RIGHTS AWARD: 
  

					
	SARs Granted:	 	[            ]
	Base Value Per Share:	 	[            ]

 VESTING SCHEDULE: 
  

					
	Grant Date:	 	[            ]
	Expiration Date:	 	[            ], subject to earlier termination
		
	Vesting Schedule:	 	Subject to acceleration in certain circumstances, the SARs vest and become exercisable on the following vesting dates:
			
		 	•	 	Initial 25% of the SARs on April 1, [            ]
			
		 	•	 	Additional 25% of the SARs on April 1, [            ]
			
		 	•	 	Additional 25% of the SARs on April 1, [            ]
			
		 	•	 	Additional 25% of the SARs on April 1, [            ]

 The Stock Appreciation Rights Award that is described and made pursuant to this Stock Appreciation Award Agreement
(as amended from time to time, this “Award Agreement”) is issued under the Amended and Restated Global Hyatt Corporation Long-Term Incentive Plan (as amended from time to time, the “Plan”). By your signature on this
Award Agreement: 
  

	 	•	 	 you consent to be bound by all of the terms and conditions of this Award Agreement and the Plan; 

  

	 	•	 	 without any further action on your part, you agree to be deemed a party to, a signatory of and bound by the Amended and Restated Global Hyatt Corporation Incentive
Award Stockholders’ Agreement, dated as of March 11, 2008 (as amended from time to time, the “Stockholders’ Agreement”), and any shares of Common Stock of Global Hyatt Corporation issued upon exercise of SARs shall be
subject to the rights and restrictions contained therein; and 

  

	 	•	 	 you acknowledge that you have received, read and understood the Plan, this Award Agreement and the Stockholders’ Agreement, and are familiar with the terms and
provisions of each. 

 The following terms and conditions apply to the Stock Appreciation Rights granted pursuant to this Award Agreement.

  

	 Company; Defined Terms: 
	Except as the context may otherwise require, references to the “Company” shall be deemed to include its subsidiaries and affiliates. 

 To the extent not defined herein, capitalized terms shall have the meanings ascribed to them in the Plan. 
  

	 Type of Award: 
	Stock appreciation rights, or SARs. 

 Exercise of the SARs entitles the Participant
to receive an amount equal to the Spread, if any, determined at the time of exercise. The “Spread” is the difference (but not less than zero) between the Share Value of a share of Common Stock at the time of exercise and the
SAR’s Base Value multiplied by the number of SARs exercised. Reference to a “share” or “shares” is to Common Stock. 
  

	 Vesting: 
	The SARs vest and become exercisable according to the schedule set forth above. SARs will vest on such dates only if the Participant remains in continuous Service (as defined below) with the Company from the
Grant Date through such vesting date. “Service” for purposes of this Award Agreement shall mean employment as an Employee, or service to the Company as a Director or Consultant. 

 Except as provided below, all unvested SARs will be forfeited upon Termination of Service and all vested SARs will remain outstanding, provided that
such vested SARs shall be automatically exercised during the Exercise Window (as defined below) which immediately follows Termination of Service. 
 Vesting of the SARs will accelerate in the following circumstances: 
  

	 	•	 	 In the event of Termination of Service due to death or disability (as determined by the Administrator based on eligibility for benefits under the Company’s
long-term disability program), all SARs will vest in full and shall be automatically exercised during the Exercise Window (as defined below) which immediately follows Termination of Service. 

  

	 	•	 	 In the event of a Change in Control, payment or vesting of the SARs will accelerate to the extent provided in Section 12.2(d) of the Plan.

 As described below, vested and unvested SARs are subject to cancellation and forfeiture in the event the Participant
engages in certain “detrimental conduct” (as defined below). 
  

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	 Exercise; Payment of the Spread: 
	Once vested, SARs may only be exercised as follows: 

 SARs outstanding at the
Expiration Date set forth above shall be treated as exercised on that date and the Participant shall be entitled to receive an amount equal to the Spread, if any. 
 During an “Exercise Window” which shall be: 
 If prior to an IPO, then
the Exercise Window is a period which will commence on the date the Share Value is communicated to the Participant and end at 5:00 p.m. Central time on the forty-fifth (45th) day thereafter or if such forty-fifth (45th) day is not a day on which the corporate office of the Company located in Chicago, Illinois is open for business, then the next
business day thereafter, unless otherwise indicated and communicated by the administrator. 
 If after an IPO, then the Exercise Window
shall be (i) on any day while the Participant is in the Service of the Company, (ii) if the Participant’s Service is terminated for reasons other than death or disability (as determined by the Administrator based on eligibility for benefits
under the Company’s long-term disability program), the 30 day period following Termination of Service, or (iii) if the Participant’s Service is terminated by reason of death or disability, the one year period following such Termination of
Service; and if following the Participant’s Termination of Service the SAR is not exercised during the Exercise Windows set forth in (ii) or (iii) it shall terminate and be forfeited. 
 If the Participant elects to exercise some or all of his or her vested SARs, the Participant may do so by filing an exercise form during the Exercise
Window in accordance with procedures established by the Administrator. 
 Settlement of exercised SARs will occur as promptly as practicable
following the end of the Exercise Window. Settlement will be accomplished through the issuance of shares to the Participant having a value (based on the Share Value determined at the time of exercise) equal to the aggregate amount of the Spread, if
any, applicable to the exercised SARs. The Administrator may direct that the settlement shall be made in cash. The issuance of shares or payment of cash will be subject to tax withholding, as provided below. 
  

	 Restrictions on Shares; Stockholder’s Agreement; Lock-Up: 
	Prior to an IPO, shares issued upon settlement of SARs will not be registered under any federal or state securities laws and will not be readily transferable. As provided in the Plan and this Award
Agreement, upon the Participant’s execution and delivery of the Award Agreement and as a condition of receipt of shares upon exercise of vested SARs, the Participant will be deemed to be a party to, a signatory of, and bound by the
Stockholders’ Agreement, which contains an acknowledgement of such restrictions and other terms and conditions attached to share ownership. 

 Without limiting any of the rights of the Company or the Administrator hereunder or under the Plan, upon receipt of shares, the Participant shall be deemed to have 

  

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agreed that upon request of the Company or the underwriters managing any underwritten offering of the Company’s securities, the Participant will (a) not
sell, make any short sale of, loan, grant any option for the purchase of, otherwise dispose of, hedge or transfer any of the economic interest in (or agree or commit to do any of the foregoing) any shares received upon exercise of SARs or any other
securities of Global Hyatt Corporation (other than those included in the registration, if any) held by the Participant without the prior written consent of the Company or such underwriters, as the case may be, for up to fourteen (14) days prior to,
and, in the case of the Company’s IPO, during the one hundred eighty (180) day period (or such longer period as may be required by the Administrator upon the advice of the managing underwriter(s)) following, the effective date of a registration
statement of the Company filed under the Securities Act of 1933, as amended, and (b) enter into and be bound by such form of agreement with respect to the foregoing as the Company or such managing underwriter may reasonably request. In the case of a
registered public offering of the Company’s equity securities following the Company’s IPO, the lock-up period described in clause (a) above shall be ninety (90) days (or such longer period as may be required by the Administrator).

  

	 Put Option; Call Right: 
	Prior to an IPO, during each Exercise Window, commencing with the second Exercise Window following the Grant Date, the Participant (or successor) holding shares received from a prior exercise of SARs (i.e.,
shares held for at least one year), may elect to sell all or some of those shares back to the Company at the Share Value in effect during such Exercise Window on the terms set forth in the Stockholders’ Agreement. 

 In addition, following the termination of the Participant’s Service, the Company shall have the right to call any such shares in full or in part
during an Exercise Window on the terms set forth in the Stockholder’s Agreement. 
 Payment for any shares sold by the Participant or
called by the Company shall be made as promptly as practicable after the end of the Exercise Window on the terms set forth in the Stockholders’ Agreement. 
  

	 Tax Withholding: 
	Unless paid in cash by the Participant at the time of settlement, the Company will deduct or withhold from shares issuable upon exercise a number of shares having a value (based on the then applicable Share
Value) equal to the amount sufficient to satisfy the minimum statutory Federal, state and local tax (including the FICA and Medicare tax obligation) withholding required by law with respect to the exercise. Any cash payment in settlement of an SAR
exercise will be reduced by applicable tax withholding. 

 The Participant is encouraged to consult with a tax advisor
regarding the tax consequences of participation in the Plan. 
  

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	 Transferability of SARs: 
	SARs may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, provided that in the event of the Participant’s death, shares deliverable or amounts payable with respect to
the SARs shall be delivered or paid, as applicable, to the Participant’s designated beneficiary. The Administrator will advise Participants with respect to the procedures for naming and changing designated beneficiaries.

  

	 Effect of Detrimental Conduct: 
	The right to exercise SARs and to receive shares shall be subject to the Effect of Detrimental Conduct on Awards attached hereto as Exhibit A, which shall be deemed a part of this Award Agreement.

 Signature page follows. 
  

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 If a fully-executed copy of this Award Agreement and attached Spousal Consent/Acknowledgement are not returned to the
Company by 5:00 pm (Central Time) on [                    ] the grant of SARs hereunder shall be null and void. 
  

									
	Global Hyatt Corporation	 		 	Participant:
				
	By:	 	  
	 		 	  

	Name:	 		 		 	Date:	 	  

	Title:	 		 		 		 	

  

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 SPOUSAL CONSENT/ACKNOWLEDGEMENT 
 To be signed by Participant and, if married, by Participant’s Spouse: 
 I, the
undersigned spouse (“Spouse”) of the undersigned Participant, hereby acknowledge that I have received, read and understand the Plan, this Award Agreement and the Stockholders’ Agreement, and am familiar with the terms and
provisions of each. I am aware that such documents impose certain restrictions on the SARs granted to my spouse and on any shares which may be issued upon the exercise of the SARs. I agree that my spouse’s interest in the SARs and in any such
shares shall be irrevocably bound by the Plan, the Award Agreement and the Stockholders’ Agreement and further that my community property interest (if any) shall be similarly bound by such agreements. 
 The undersigned Spouse irrevocably constitutes and appoints my spouse, the undersigned Participant, as my true and lawful attorney and proxy in my name,
place and stead to sign, make, execute, acknowledge, deliver, file and record all documents which may be required, and to manage, vote, act and make all decisions with respect to any and all of the SARs and shares of Global Hyatt Corporation in
which I now have or hereafter acquire any interest in (including but not limited to the right, without my further signature, consent or knowledge, to exercise any rights under or to agree to any amendments or modifications of any of the
above-referenced documents), with all powers I would possess if personally present, it being expressly understood and intended by me that the foregoing power of attorney and proxy is coupled with an interest; and this power of attorney is a durable
power of attorney and will not be affected by my disability, incapacity or death or dissolution of marriage and this proxy will not terminate without the consent of the Participant and Global Hyatt Corporation. 
 Global Hyatt Corporation is a third party beneficiary of this Spousal Consent/Acknowledgement and shall have the right to enforce this Spousal
Consent/Acknowledgement as if it were a signatory and party hereto. 
  

							
	Signature of Participant’s Spouse:	 		 	
		 		 	  

				
		 		 	Print Name:	 	  

 Married
Participants:            I, the undersigned Participant, do hereby certify and acknowledge that the signature set forth above is the true and genuine signature of my Spouse.

  

							
	Signature of Participant:	 		 	
		 		 	  

				
		 		 	Print Name:	 	  

  
  
 Unmarried Participants:            I, the undersigned Participant, do hereby certify and
acknowledge that I am unmarried. 
  

							
	Signature of Participant:	 		 	
		 		 	  

				
		 		 	Print Name:	 	  

 EXHIBIT A 
 GLOBAL HYATT CORPORATION 
 AMENDED AND RESTATED LONG-TERM INCENTIVE PLAN 
 Effect of Detrimental Conduct on Awards 
 Awards granted to the Participant under the Amended and Restated Global Hyatt Corporation Long-Term Incentive Plan (as amended from time to time, the “Plan”) shall be subject to the following provisions relating to the
effect of the Participant’s detrimental conduct on his or her awards under the Plan. Capitalized terms not defined herein shall have the meaning ascribed to them in the Plan. 
 Effect of Detrimental Conduct. In the event the Participant engages in “detrimental conduct” (as defined below), the
Participant shall forfeit all unvested and/or vested awards which have not been exercised or otherwise settled under the Plan and all such awards shall be null and void as of the date such detrimental conduct first occurs.  
 Definition of Detrimental Conduct. The Participant will be deemed to have engaged in detrimental conduct if in the reasonable, good
faith determination of the Administrator, the Participant has engaged in conduct constituting (1) a felony; (2) gross negligence or willful misconduct in the performance of Participant’s duties and responsibilities to the Company;
(3) willful violation of a material Company policy, including, without limitation, any policy relating to confidentiality, honesty, integrity and/or workplace behavior, which violation has resulted or may reasonably be expected to result in
harm to the Company, its stockholders, directors, officers, employees or customers; (4) improper internal or external disclosure or use of confidential information or material concerning the Company or any of its stockholders, directors,
officers, or employees which use or disclosure has resulted or may reasonably be expected to result in harm to the Company; (5) publicly disparaging the Company or any of its stockholders, directors, officers or employees; and/or
(6) willful violation of the Stockholders’ Agreement or other material agreements with the Company entered into by the Participant in connection with or pursuant to the Plan.  
 Determination of Detrimental Conduct. Upon a reasonable, good faith determination that detrimental conduct has occurred, the Administrator shall
give the Participant written notice, which shall specify the conduct and the date of the conduct. Any dispute concerning the matters set forth in the notice shall be decided under the procedures in the Plan.Global Hyatt Corporation Deferred Compensation Plan for Directors

 Exhibit 10.14 
 GLOBAL HYATT CORPORATION 
 DEFERRED COMPENSATION PLAN FOR DIRECTORS 
 Effective as of July 1, 2007. 

 TABLE OF CONTENTS 
  

			
	 	  	Page(s)
	 ARTICLE I. DEFINITIONS
	  	1
		
	 ARTICLE II. ELECTION TO DEFER
	  	2
		
	 ARTICLE III. DEFERRED COMPENSATION ACCOUNTS
	  	3
		
	 ARTICLE IV. PAYMENT OF DEFERRED COMPENSATION
	  	5
		
	 ARTICLE V. ADMINISTRATION
	  	7
		
	 ARTICLE VI. AMENDMENT OF PLAN
	  	7
		
	 ARTICLE VII. CHANGE OF CONTROL
	  	8
		
	 ARTICLE VIII. EFFECTIVE DATE
	  	8

  

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 GLOBAL HYATT CORPORATION 
 DEFERRED COMPENSATION PLAN FOR DIRECTORS 
 ARTICLE I. 
 DEFINITIONS 
 1.1
“Accounts” shall mean collectively the Director’s Cash Account and Stock Unit Account. 
 1.2 “Annual Equity
Retainer” shall mean the Annual Equity Retainer paid to the Director in Common Stock for serving as a member of the Board. 
 1.3
“Annual Fee” shall mean the Annual Equity Retainer paid to the Director in cash for serving as a member of the Board, but does not include any amounts earned for attending Committees of the Board or for serving on Committees of the Board.

 1.4 “Board” shall mean the Board of Directors of Global Hyatt Corporation. 
 1.5 “Change of Control” – shall occur if Family Business Units or members of the Pritzker Family cease to own, directly or
indirectly, securities representing (i) at least twenty (20%) of the total voting power represented by securities of the Company and (ii) a larger percentage of the total voting power represented by securities of the Company than is
owned, directly or indirectly, by any other person or group of related persons, as defined in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended. 
 1.6 “Common Stock” shall mean the common stock, $0.01 par value per share of the Company. 
 1.7 “Company” shall mean Global Hyatt Corporation and any corporate successors. 
 1.8 “Code”
shall mean the Internal Revenue Code of 1986, as amended and any successor statute thereto. 
 1.9 “Director” shall mean a
member of the Board of Directors of the Company who is not an employee of the Company or any of its subsidiaries. 
 1.10
“Effective Date” shall mean July 1, 2007. 
 1.11 “Fair Market Value” shall mean (a) if the Common Stock
is not publicly traded on a national securities exchange or other quotation system, then the fair market value of the Common Stock as determined by an independent third party appraisal on the December 31 immediately preceding the date Fair
Market Value is being so determined, or if the Board determines that subsequent events have materially affected such value, then as of a date determined by the Board, which appraisal shall reflect a reasonable valuation of the Company as
contemplated by Treasury Regulation §1.409A-1(b)(5), or (b) if the Common Stock is publicly traded on a national securities exchange, the fair market value of the Common Stock shall be the closing price of the Common Stock regular way, as
reported in the Wall Street Journal for the relevant date, or if the Common Stock is not traded on such date, the next preceding trading date. 

 1.12 “Family Business Units” shall mean any business entity owned or controlled directly
or indirectly by or for the benefit of members of the Pritzker Family. 
 1.13 “Initial Equity Retainer” shall mean the
grant of Common Stock deliverable upon election or appointment to the Board. 
 1.14 “Plan” shall mean this Deferred
Compensation Plan for Directors as it may be amended from time to time. 
 1.15 “Pritzker Family” means all of the lineal
descendants of Nicholas J. Pritzker (deceased) and all of their respective spouses and former spouses and children. 
 1.16
“Year” shall mean calendar year. 
 1.17 “Cash Account” shall mean the account created by the Company pursuant to
Article III of this Plan in accordance with an election by a Director to receive deferred cash compensation under Article II hereof. 
 1.18 “Separation from Service” shall mean termination of service as a Director; provided that the individual is not or does not as a result thereof become an employee or maintain an independent contractor relationship with
the Company or any subsidiary. All determinations of whether an individual has had a Separation from Service shall be made applying the definition contained in Treasury Regulation §1.409A-1(h). 
 1.19 “Stock Unit” shall mean one share of Common Stock. 
 1.20 “Stock Unit Account” shall mean the bookkeeping account created by the Company pursuant Article III of this Plan in accordance with an election by a Director to receive deferred stock
compensation under Article II hereof. 
 1.21 “He”, “Him” or “His” shall apply equally to male and
female members of the Board. 
 ARTICLE II. 
 ELECTION TO DEFER AND PAYMENT ELECTIONS 
 2.1 A Director may elect to defer payment of all or
a specified part of any Annual Fee, Annual Equity Retainer or Initial Equity Retainer by filing an election with the Company as follows: 
  

	 	(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). 

  

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	 	(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, Annual Equity Retainer or Initial Equity Retainer earned during the remainder of such Year and any Annual Fee or Annual Equity Retainer earned for succeeding Years. 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. 

  

	 	(c)	Each Director on the Effective Date may elect to defer receipt of his Initial Equity Retainer by filing the election within thirty days of the Effective Date.

 2.2 Each deferral election shall continue from Year to Year unless the Director terminates it by written request
delivered to the Secretary of the Company prior to the commencement of the Year for which the termination is first effective. 
 2.3
At the time of deferral, the Director may elect to have the Annual Fee, Annual Equity Retainer or Initial Equity Retainer for such year distributed on the earlier of his Separation from Service or the last business day of March of the fifth Year
following the Year in which such Annual Fee, Annual Equity Retainer or Initial Equity Retainer would otherwise have been paid, absent the deferral election (an “In-Service Distribution Date”). 
 ARTICLE III. 
 DEFERRED COMPENSATION
ACCOUNTS 
 3.1 The Company shall maintain separate bookkeeping accounts for the Annual Fees, Annual Equity Retainer and Initial
Equity Retainer deferred by each Director. The Annual Equity Retainer and Initial Equity Retainer deferred by a Director shall be denominated in Stock Units and held in a Stock Unit Account for the benefit of the Director. The Director may elect at
the time of the deferral to have the Annual Fee denominated in either Stock Units and credited to the Stock Unit Account, or in cash and credited to the Cash Account. 
 3.2 The Company shall credit, on the date the Annual Fees become payable, to the Cash Account of each Director the deferred portion of any Annual Fees due to the Director as to which an election to receive cash
has been made. Subject to Section 3.10, Annual Fees deferred in the form of cash (and interest thereon) shall be held in the general funds of the Company. 
 3.3 The Company shall credit the Cash Account of each Director on a quarterly basis with interest at the prime rate in effect at the Company’s principal commercial bank on the date of the next immediately
following regular quarterly Directors’ meeting. A Director’s Cash Account shall continue to accrue interest in the foregoing manner until two days prior to the date on which the balance of the Director’s Cash Account will be paid, in
accordance with the terms of Article IV hereof, in satisfaction of all payments owed to the Director under the Plan. 
  

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 3.4 The Company shall credit, on the date Annual Fees, Annual Equity Retainer or Initial Equity
Retainer becomes payable, the Stock Unit Account of each Director with the number of Stock Units which is equal to: the deferred portion of any Annual Equity Retainer, Initial Equity Retainer or Annual Fee due to the Director as to which an election
to receive Common Stock has been made, divided by the Fair Market Value of the Common Stock on (a) with respect to Annual Equity Retainer and Annual Fees, the date such Annual Equity Retainer or Annual Fee would otherwise have been paid, and
(b) with respect to the Initial Equity Retainer, the date the Director was first elected or appointed to the Board (or the Effective Date with respect to Initial Equity Retainers granted on the Effective Date) with respect to the Initial Equity
Retainer. 
 3.5 The Company shall credit the Stock Unit Account of each Director who has elected to receive deferred compensation in
the form of Stock Units with the number of Stock Units equal to any cash dividends (or the fair market value of dividends paid in property other than dividends payable in Common Stock) payable on the number of shares of Common Stock represented by
the number of Stock Units in each Director’s Stock Unit Account divided by the Fair Market Value on the dividend payment date. Dividends payable in Common Stock will be credited to each Director’s Stock Unit Account in the form of
additional Stock Units. A Director’s Stock Unit Account shall continue to be credited with dividends in the foregoing manner until two days prior to the date on which the balance of the Director’s Stock Unit Account will be paid, in
accordance with the terms of Article IV hereof, in satisfaction of all payments owed to the Director under the Plan. If adjustments are made to the outstanding shares of Common Stock as a result of recapitalization, merger, consolidation, split up,
stock split, reverse stock split, spin-off or other distribution of stock or property of the Company, extraordinary dividends combination of securities, exchange of securities or other similar change in the capital structure of the Company (other
than normal cash dividends), an appropriate adjustment also will be made in the number of Stock Units credited to the Director’s Stock Unit Account. 
 3.6 Stock Units shall be computed to six (6) decimal places. 
 3.7 Stock Units shall not
entitle any person to rights of a stock holder with respect to such Stock Units unless and until shares of Common Stock have been issued to such person in respect of such Stock Units pursuant to Article IV hereof. 
 3.8 The Company shall not be required to acquire, reserve, segregate, or otherwise set aside shares of its Common Stock for the payment of its
obligations under the Plan, but shall make available as and when required a sufficient number of its Common Stock to meet the needs of the Plan. 
 3.9 Nothing contained herein shall be deemed to create a trust of any kind or any fiduciary relationship. To the extent that any person acquires a right to receive payments from the Company under the Plan, such right shall be no
greater than the right of any unsecured general creditor of the Company. 
 3.10 The Company may enter into a trust agreement creating
an irrevocable grantor trust for the holding of cash credited to the Cash Account of each Director under the Plan. Any assets of such trust shall be subject to the claims of creditors of the Company to the extent set forth in the trust, and
Directors’ interests in benefits under this Plan shall only be those of unsecured creditors of the Company. 
  

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 ARTICLE IV. 
 PAYMENT OF DEFERRED COMPENSATION 
 4.1 Timing and Form of Payment.
Unless otherwise elected under Section 2.3 with respect to Annual Equity Retainer or an Initial Equity Retainer, amounts contained in a Director’s Accounts will be distributed in a lump sum on January 31st of the Year following the Director’s Separation from Service. Amounts credited to a
Director’s Cash Account shall be paid in cash. Amounts credited to a Director’s Stock Unit Account shall be paid in the form of one whole share of Common Stock for each Stock Unit. A cash payment will be made for any fractions of a Stock
Unit remaining in the Director’s Stock Unit Account. Such fractional share will be valued at the Fair Market Value on the date of settlement. 
 4.2 Designation of Beneficiary. Each Director shall have the right to designate a beneficiary who is to succeed to his right to receive payments hereunder in the event of death. Any designated beneficiary will receive payments
in the same manner as the Director if he had lived. In case of a failure of designation or the death of a designated beneficiary without a designated successor, the balance of the amounts contained in the Director’s Accounts shall be payable in
accordance with Section 4.1 to the Director’s or former Director’s estate in full on the first day of the Year following the Year in which the Director or his designated beneficiary dies. No designation of beneficiary or change in
beneficiary shall be valid unless in writing signed by the Director and filed with the Secretary of the Company. Any beneficiary may be changed without the consent of any prior beneficiary. 
 4.3 Permissible Acceleration. Notwithstanding Section 4.1, all or a portion of a Director’s Accounts may be paid prior to
Separation of Service in the discretion of the Company upon the following events: 
  

	 	(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 Director resulting from an illness or accident of the Director, or of the Director’s spouse, beneficiary, or dependent, loss of the Director’s property due to
casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Director. The determination of Unforeseeable Emergency shall be made by the full Board of Directors without 

  

 5 

	 	 
regard to the affected Director based upon all of the facts and circumstances of each case and in light of Treasury Regulation Section 1.409A-3. No
payment on account of Unforeseeable Emergency shall be made to the extent that the hardship is or may be relieved through reimbursement or compensation by insurance or otherwise, or by liquidation of the Director’s assets (to the extent the
liquidation of such assets would not itself cause severe financial hardship). 

  

	 	(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). 

 4.4 Section 409A Delay. Notwithstanding Sections 4.1 to the contrary, if a Director is an employee of the Company at the time of his
Separation from Service such Director’s Accounts shall not be payable to the Director prior to the earlier of (a) the expiration of the six-month period measured from the date of the Director’s Separation from Service or
(b) death, at which time all payments deferred pursuant to this Section 4.4 shall be paid in a lump sum to the Director, and any remaining payments shall be paid as otherwise provided under Section 4.1. 
 4.5 Election to Further Defer Payment. A Director who has elected to receive payment under Section 2.3 of an Annual Fee, Annual Equity
Retainer or Initial Equity Retainer on an In-Service Distribution Date may change such election by completing and delivering an election to the Secretary of the Company to change the In-Service Distribution Date to a new In-Service Distribution Date
subject to the following limitations: 
  

	 	(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. 

  

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	 	(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. 

 ARTICLE V. 
 ADMINISTRATION 
 5.1 The books and records to be maintained for the purpose of the Plan shall
be maintained by the Company at its expense. All expenses of administering the Plan shall be paid by the Company. 
 5.2 Except to the
extent required by law, the right of any Director or any beneficiary to any benefit or to any payment hereunder shall not be subject in any manner to attachment or other legal process for the debts of such Director or beneficiary; and any such
benefit or payment shall not be subject to alienation, sale, transfer, assignment or encumbrance. 
 5.3 No member of the Board and no
officer or employee of the Company shall be liable to any person for any action taken or omitted in connection with the administration of the Plan unless attributable to his own fraud or willful misconduct, and the Company shall not be liable to any
person for any such action unless attributable to fraud or willful misconduct on the part of a Director, officer or employee of the Company. 
 ARTICLE VI. 
 AMENDMENT OF PLAN 
 6.1 Subject to any stockholder approval which may be required by law or the requirements of any stock exchange on which the Common Stock is then listed, the Plan may be amended, suspended or terminated in whole
or in part from time to time by the Board, except no amendment, suspension, or termination shall apply to the payment to any Director or beneficiary of a deceased Director of an amounts previously credited to a Director’s Accounts, without the
Director’s consent (or the beneficiary’s consent in the case of a deceased Director). 
 6.2 Notice of every such amendment
shall be given in writing to each Director and beneficiary of a deceased director. 
  

 7 

 ARTICLE VII. 
 CHANGE OF CONTROL 
 7.1 Notwithstanding any election under Section 2.3 or the provisions
of Section 4.1 to the contrary, upon the occurrence of a Change of Control the amounts credited to a Director’s Accounts shall be paid in a lump sum on the date of the Change of Control. 
 7.2 A Director’s Accounts shall be paid within thirty (30) days following the Change of Control, but in no event
later than the later of: (a) December 31 of the year in which the Change of Control occurs, or (b) two and one-half (2 1/2) months following the date of the Change of Control. 
 ARTICLE VIII. 
 EFFECTIVE DATE 
 This Plan was originally adopted by the Board of Directors on June 10, 2007, but effective as of July 1, 2007. 
  

 8

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