Document:

2007 Stockholders' Agreement

 Exhibit 10.1 
 GLOBAL HYATT CORPORATION 
 2007 STOCKHOLDERS’ AGREEMENT 
 THIS GLOBAL HYATT CORPORATION 2007 STOCKHOLDERS’ AGREEMENT, dated as of August 28, 2007 (the “Effective Date”), is made
by and among GLOBAL HYATT CORPORATION, a Delaware corporation (the “Company”), each Person identified on Schedule 1 hereto, and any other Person who becomes a party to this Agreement pursuant to the provisions hereof (each,
individually, a “Stockholder” and, collectively, the “Stockholders”). 
 R E C I T A L S

 WHEREAS, the Company and each of the Stockholders desire, for their mutual benefit and protection, to enter into this Agreement to
set forth their respective rights and obligations with respect to the affairs of the Company and the capital stock held by the Stockholders. 
 NOW, THEREFORE, in consideration of the recitals and the mutual premises, covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows: 
 1. Definitions; Rules of Construction. 
  

	 	(a)	For purposes of this Agreement, each of the following terms shall have the meaning ascribed to it in this Section 1: 

 “AAA” – American Arbitration Association. 
 “Affiliate” – as to any Person any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this
definition and the definition of Change of Control Transaction, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of
such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and “under common control with” have correlative
meanings. 
 “Agreement” – this agreement as originally executed or as it may from time to time be supplemented or
amended by one or more agreements supplemental hereto entered into pursuant to the applicable provisions hereof. 
 “Applicable
Market Value” – the average of the Closing Price per share of Common Stock on each of the fifteen (15) consecutive Trading Days ending on the Trading Day immediately preceding the relevant date of determination, provided that if
the Common Stock is not listed or regularly traded on any national or regional securities exchange or association or over-the-counter market, the Applicable Market Value shall be as determined by the Board (and validated by the Financial Advisor to
the Company). 

 “Board” – the Board of Directors of the Company. 
 “Business Day” – any day other than a Saturday, Sunday or other day in the City of New York on which banking institutions are
authorized by law or regulations to close. 
 “Change of Control Transaction” – any transaction or series of related
transactions approved by the Board, that results in any Person who is not an Affiliate of the Company prior to such transaction or series of transactions acquiring Control of the Company, which shall include any transaction approved by the Board
that directly or indirectly results in any Person who is not an Affiliate of the Company prior to such transaction holding more than fifty percent (50%) of the outstanding shares of Common Stock. 
 “Claim” – as defined in Section 15(b). 
 “Closing Price” – on any date of determination means the closing sale price (or, if no closing sale price is reported, the last reported sale price) of the Common Stock on the New York Stock
Exchange or The Nasdaq Stock Market on such date or, if the Common Stock is not listed for trading on the New York Stock Exchange or The Nasdaq Stock Market on any such date, as reported in the composite transactions for the principal United States
securities exchange on which the Common Stock is so listed, or if the Common Stock is not so listed on a United States securities exchange, the average of the last quoted bid price and asking price for the Common Stock in the over-the-counter market
as reported by the National Quotation Bureau or similar organization, or, if such bid price is not available, the average of the last quoted bid price and asking price for the Common Stock on the GS Tradable Unregistered Equity OTC Market.

 “Common Stock” means (i) the common stock, par value $0.01 per share, of the Company and (ii) Convertible
Stock, other than where the term “Convertible Stock” is specifically used herein. 
 “Company” – as defined
in the Preamble. 
 “Convertible Stock” means the Series A Convertible Preferred Stock, par value $0.01 per share, of the
Company, which is convertible into shares of Common Stock in accordance with the terms of the Company’s Certificate of Designation of the Convertible Stock. 
 “Drag Notice” – as defined in Section 5(b). 
 “Effective
Date” – as defined in the Preamble. 
 “Effective Date Common Shares” – in the case of an Initial Holder,
the number of shares of Fully Diluted Common Stock owned by such Initial Holder on the Effective Date. 
 “Exchange Act”
– the Securities Exchange Act of 1934, as amended, or any successor federal statute, and the rule and regulations of the Securities and Exchange Commission thereunder, as the same shall be in effect from time to time. 
 “Excluded Securities” – any equity securities of the Company (which for this purpose shall include securities convertible into or
exchangeable for equity securities of the Company, any equity or profit participation rights, or any rights, options, or warrants 

  

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to purchase any of the foregoing issued by the Company subsequent to the date hereof) that consist of any of the following: (i) issuances to employees,
consultants and members of the Board (or similar governing bodies) of the Company or its Subsidiaries in connection with the performance of services in such capacities and made pursuant to any plan adopted by the Board; (ii) issuance of shares
of Common Stock upon conversion of shares of preferred stock, exercise of options and exercise of warrants; (iii) the issuance of Common Stock in a Public Offering; (iv) issuance of securities to financial institutions, equipment lessors,
brokers or similar persons in connection with commercial credit arrangements, equipment financings, commercial property lease transactions or similar transactions approved by the Board; (v) issuance of equity securities or rights to purchase
equity securities issued for non-cash consideration pursuant to a merger, consolidation, acquisition or similar business combination approved by the Board; and (vi) issuance of securities to an entity as a component of any business relationship
with such entity primarily for the purpose of (A) joint venture, technology, licensing or development activities, (B) distribution, supply or manufacture of the Company’s products or services, or (C) any other arrangements
involving corporate partners primarily for purposes other than raising capital, the terms of which business relationship with such entity are approved by the Board. 
 “Existing Stockholders” – (i) members of the Pritzker family who are lineal descendants of Nicholas J. Pritzker, deceased, and spouses thereof, (ii) trusts for the benefit of the
persons listed in clause (i) of this definition and/or (iii) Affiliates of any of the Persons listed in clauses (i) and (ii) of this definition. 
 “Financial Advisor” means Goldman Sachs & Co. as financial advisor to the Company, or another nationally recognized investment banking firm selected by the Company. 
 “Framework Agreement” means that certain Purchase and Framework Agreement, dated as of the Effective Date, among the Company and the
Stockholders party thereto, as amended from time to time. 
 “Fully Diluted Common Stock” of any stockholder means the
number of shares of Common Stock then held by such stockholder, assuming the full exercise of all options, warrants and other securities or instruments of the Company held by such stockholder that are convertible, exercisable or exchangeable for
shares of Common Stock (whether or not such securities are then vested, exercisable or in-the-money), including without limitation, the Convertible Stock. 
 “Governmental Authority” – any regional, federal, state or local legislative, executive or judicial body or agency, any court of competent jurisdiction, any department, political subdivision or
other governmental authority or instrumentality, or any arbitral authority, in each case, whether domestic or foreign. 
 “GS Change
of Control” – the occurrence of one or more of the foregoing with respect to GS Group: (i) the sale of all or substantially all of GS Group’s assets, determined on a consolidated basis, in one transaction or series of related
transactions and/or (ii) the acquisition (in one or more transactions) by any Person or Persons acting together or constituting a “group” under Section 13(d) of the Exchange Act together with any Affiliates thereof of beneficial
ownership (as defined in Rule 13d-3 under the Exchange Act) or control, directly or indirectly, of more than 50% of the total voting power of all classes of securities entitled to vote in the election of directors of GS Group. 
  

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 “GS Group” – The Goldman Sachs Group, Inc. 
 “GS Investor” – GS Sunray Holdings Parallel, L.L.C., GS Sunray Holdings, L.L.C. or any of their permitted Transferees. 

“Immediate Family” – as to any individual, such individual’s parents, mother-in-law, father-in-law, spouse, brother or
sister, brother-in-law or sister-in-law, son-in-law or daughter-in-law and children (including by way of adoption), and any person who either lives in the same household as, provides material support to, or receives material support from, such
individual. 
 “Initial Holder” – (i) any of Thomas J. Pritzker, Penny Pritzker and/or Gigi Pritzker or
(ii) trusts for the benefit of the individuals described in clause (i) of this definition and/or for the benefit of their respective spouses and/or lineal descendants. 
 “New Securities” – as defined in Section 7(a). 
 “Overall Percentage Interest” – with respect to any Stockholder, the percentage equivalent of a fraction the numerator of which is
the total number of shares of Fully Diluted Common Stock held by such Stockholder, and the denominator of which is the total number of shares of Fully Diluted Common Stock held by all stockholders of the Company. 
 “Permitted Pledge” – the grant of a collateral security interest in Common Stock by or on behalf of a Stockholder; provided
that (i) the Stockholder proposing to use the Common Stock as collateral advises the Company in advance of the identity of the proposed lender(s) and secured party (if different from the lender(s)) (the “Pledgee”) and affords
the Company an opportunity to consult with such Stockholder with respect thereto and (ii) in the event the beneficial ownership of such Common Stock is Transferred from such Stockholder to the Pledgee by foreclosure or otherwise, such
Transferee (a) is subject to all of the restrictions and limitations imposed on such Common Stock and Stockholder in respect thereof prior to such Transfer (including, without limitation, transfer restrictions, rights of first refusal and
drag-along rights), (b) is not vested with any of the rights or benefits enjoyed by such Stockholder with respect to such shares of Common Stock (other than the right to receive dividends thereon, if, when and as declared by the Board,
tag-along rights, conversion rights and the proceeds thereof upon a permitted disposition, if any) and (c) each such Pledgee or potential Pledgee shall agree with the Company in writing to be bound by the obligations and restrictions applicable
to such Stockholder hereunder. 
 “Permitted Transfer” – one or more Transfers by an Initial Holder made (i) to or
for the benefit of a member or members of the Immediate Family of such Initial Holder, (ii) to a private charitable foundation created by the Pritzker Foundation, so long as such the Transferred Common Stock is held by such foundation,
(iii) to grant collateral security interests so long as there is no change in beneficial ownership of the Common Stock, (iv) to another Initial Holder, (v) to one or more trusts for the benefit of an Initial Holder or an Initial
Holder’s Immediate Family, or (vi) by operation of the provisions of the trust instrument of a trust which is an Initial 

  

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Holder or which is a successor trust by way of being a “mirror”, “sub” or “split” trust, directly or indirectly, of a trust
which is an Initial Holder, so long as the recipient of such Transfer is a permitted Transferee under clauses (i) through (v) of this definition; it being understood that any change in trustees of any such trust is a Permitted Transfer.

 “Person” – an individual, a company, a partnership, a joint venture, a limited liability company or limited
liability partnership, an association, a trust, estate or other fiduciary, any other legal entity, and any Governmental Authority. 
 “Pre-Emptive Allocation” – as defined in Section 7(a). 
 “Pre-Emptive Right
Holder” – as defined in Section 7(a). 
 “Pro Rata Portion” – at any relevant time or with
respect to any relevant period of time, the percentage equivalent of a fraction the numerator of which is the total number of Effective Date Common Shares Transferred by an Initial Holder, and the denominator of which is the total number of
Effective Date Common Shares held by all Initial Holders immediately prior to the relevant time or period of time. 
 “Public
Offering” means (i) any offering by the Company of its equity securities to the public pursuant to an effective registration statement under the Securities Act or any comparable statement under any comparable federal statute then in
effect (other than any registration statement on Form S-8 or Form S-4 or any successor forms thereto) or (ii) any private distribution by the Company of its equity securities to more than 50 qualified institutional buyers. 
 “Purchase Agreement” means that certain Purchase Agreement, dated as of the Effective Date, among the Company and the Stockholders party
thereto, as amended from time to time. 
 “Registration Rights Agreement” means that certain Registration Rights Agreement,
dated as of the Effective Date, among the Company and the Stockholders, as amended from time to time. 
 “Qualified Public
Offering” – a firm commitment underwritten public offering (or a private distribution to more than 50 qualified institutional buyers) of the Common Stock that: (i) yields gross proceeds of not less than $1,000,000,000, or
(ii) results in the sale (including the sale by any selling shareholders) of fifteen percent (15%) or more of the Common Stock of the Company outstanding immediately prior to such offering. 
 “Related Person” – as to any Person, (i) an Affiliate of such Person, (ii) a member of such Person’s Immediate
Family and/or (iii) any Person who or which is an Affiliate of such Person’s Immediate Family. 
 “Request for
Arbitration” – as defined in Section 15(a). 
 “Restricted Stock” – (i) Common Stock
acquired by a Stockholder from the Company or (ii) Common Stock described in clause (i) of this definition acquired by a Stockholder from another Stockholder; provided, however, that Restricted Stock will not include any
shares of Common Stock that have been sold pursuant to a registration statement or a broad distribution sale in Transfers permitted by this Agreement. 
  

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 “Restriction Expiration Date” – 11:59 pm (Central time) on the
day after the first to occur of (i) the 365th day following the eighth
(8th) anniversary of the Effective Date and (ii) the date that is five and
one-half (5.5) years following the consummation of a Qualified Public Offering. 
 “Section 4(b) Offer Notice” –
as defined in Section 4(b). 
 “Section 4(b) Selling Stockholder” – as defined in Section 4(b).

 “Section 4(c) Offer Notice” – as defined in Section 4(c). 
 “Section 4(c) Selling Stockholder” – as defined in Section 4(c). 
 “Securities Act” – the Securities Act of 1933, as amended, or any successor federal statute, and the rule and regulations of the
Securities and Exchange Commission thereunder, as the same shall be in effect from time to time. 
 “Stockholder(s)” –
as defined in the Preamble. 
 “Subscription Agreement” – that certain Subscription Agreement, dated as of the
Effective Date, among the Company and the Stockholders party thereto, as amended from time to time. 
 “Subsidiary” means,
as to a Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power to elect a majority of the directors or other managers of such corporation,
partnership, limited liability company or other entity (irrespective of whether or not at the time, any class or classes of such corporation shall have or might have more voting power by reason of the happening of any contingency) are at the time
owned by such Person directly or indirectly through Subsidiaries. Unless context otherwise requires, all references to a Subsidiary or Subsidiaries under this Agreement shall refer to a direct or indirect Subsidiary or direct or indirect
Subsidiaries of the Company. 
 “Tag Notice” – as defined in Section 6(b). 
 “Tag Rights” – as defined in Section 6(b). 
 “Trading Day” – a day on which the Common Stock (i) is not suspended from trading on any national or regional securities
exchange or association or over-the-counter market at the close of business and (ii) has traded at least once on the national or regional securities exchange or association or over-the-counter market that is the primary market for the trading
of the Common Stock at the close of business on such day. 
 “Transfer” – as defined in Section 2.

  

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 “Transferee” – a Person to whom shares of Restricted Stock are Transferred.

  

	 	(b)	The following provisions shall be applied wherever appropriate herein: 

  

	 	(i)	for purposes of this Agreement, the words “hereof,” “herein,” “hereby” and other words of similar import refer to this Agreement as a whole unless
otherwise indicated. Whenever the singular is used herein, the same shall include the plural, and whenever the plural is used herein, the same shall include the singular, where appropriate. All terms defined herein in the singular shall have the
same meaning when used in the plural; all terms defined herein in the plural shall have the same meaning when used in the singular; 

  

	 	(ii)	with regard to each and every term and condition of this Agreement, the parties hereto understand and agree that the same have or has been mutually negotiated, prepared and drafted,
and that if at any time the parties hereto desire or are required to interpret or construe any such term or condition or any agreement or instrument subject hereto, no consideration shall be given to the issue of which party actually prepared,
drafted or requested any term or condition of this Agreement; 

  

	 	(iii)	all references herein to Sections, subsections, paragraphs, subparagraphs and clauses shall be deemed references to such parts of this Agreement, unless the context shall otherwise
require; 

  

	 	(iv)	all pronouns and any variations thereof refer to the masculine, feminine or neuter, singular or plural, as the context may require; 

  

	 	(v)	the words “include” and “including” and variations thereof shall not be deemed terms of limitation, but rather shall be deemed to be followed by the words
“without limitation”; 

  

	 	(vi)	any accounting terms not specifically defined herein shall be construed in accordance with generally accepted accounting principles as applied in the United States;

  

	 	(vii)	the Exhibits and Schedules, if any, attached hereto are incorporated herein by reference and shall be considered part of this Agreement; and 

  

	 	(viii)	any consent or approval rights of the Board or the Company contained herein shall be exercised in the sole and absolute discretion of the Board or the Company, as applicable, unless
otherwise expressly set forth herein. 

 2. Restrictions on Transfer. Except as expressly permitted in this Agreement, no Stockholder
shall in any way, directly or indirectly (whether by act, omission or operation of law), sell, exchange, transfer, hypothecate, negotiate, gift, convey in trust, pledge, assign, encumber, or otherwise dispose of, or by adjudication of the
Stockholder as bankrupt, by assignment for the benefit of creditors, by attachment, levy or other seizure by any creditor (whether or not pursuant to judicial process), or by passage or distribution of the 

  

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Restricted Stock under judicial order or legal process, carry out or permit the transfer of, all or any portion of such Stockholder’s Restricted Stock
(any of the foregoing, a “Transfer”). Any Transfer not expressly permitted herein shall be void and of no effect. Notwithstanding anything in this Section 2 to the contrary, neither a GS Change of Control nor transfers of
interests in any GS Investor, in any of the ultimate investment funds investing through such GS Investor or in any intermediary entities through which any such investment funds invest through such GS Investor, shall be considered an assignment for
the purposes of this Agreement so long as the general partner or other managing entities of such GS Investor or such investment funds or intermediary entities remain Affiliates of the GS Group. 
 3. Certain Permitted Transfers. Notwithstanding anything to the contrary in Section 2: 
  

	 	(a)	A Stockholder may Transfer all or a portion of such Stockholder’s Restricted Stock (i) to the Company, (ii) to an Affiliate of such Stockholder subject to the prior
written consent of the Board, which consent will not be unreasonably withheld, (iii) as permitted by Sections 3(b), 3(c), 4, 5 and 6, (iv) received by such Stockholder pursuant to Section 3.2 of the
Subscription Agreement and (v) subject to Sections 4 and 5 hereof, following the Restriction Expiration Date. 

  

	 	(b)	 Subject to Sections 4 and 5 hereof, a Stockholder may Transfer up to a number of shares of Restricted Stock equal to one-third ( 1/3rd) of the number of shares of Restricted Stock (assuming the conversion in full of the Convertible Stock held by such
Stockholder for purposes of determining the number of such shares subject to the foregoing limitation) it acquired pursuant to the Subscription Agreement or upon conversion of the Convertible Stock to un-Affiliated third parties (i) during each
365-day period beginning on the sixth (6th), seventh (7th) and eighth (8th) anniversaries of the Effective Date, or (ii) if earlier, the dates that are three and one-half (3.5) years, four
and one-half (4.5) years and five and one-half (5.5) years following the consummation of a Qualified Public Offering; provided that in the case of Transfers described in clause (ii) of this Section 3(b), such Transfers are
accomplished by way of a broad distribution sale. 

  

	 	(c)	 Subject to Sections 4 and 5 hereof, and in addition to Section 3(b) above, following the first Public Offering, a Stockholder may Transfer
up to a number of shares of Restricted Stock equal to one-third ( 1/3rd) of the number of shares of Restricted Stock (assuming the conversion in full of the Convertible Stock held by such
Stockholder for purposes of determining the number of such shares subject to the foregoing limitation) it acquired pursuant to the Subscription Agreement or upon conversion of the Convertible Stock to un-Affiliated third parties (i) at any time
following the end of the first calendar year during which the Existing Stockholders at any time during such year owned less than twenty five percent (25%) of the Common Stock outstanding at such time or (ii) at any time following both
(A) the second anniversary of the issuance of the Restricted Stock under the Subscription Agreement or upon the conversion of the Convertible Stock and (B) the first date on which the Applicable Market Value exceeded one hundred sixty five
percent (165%) of the gross price per share at which the Common Stock was first traded in the first Public Offering of the Common Stock; provided that in the case of 

  

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Transfers described in the immediately preceding clauses (i) and (ii), such Transfers are accomplished by way of an underwritten public offering with a
principal underwriter reasonably acceptable to the Company or in an otherwise broad distribution sale. 

  

	 	(d)	Subject to Sections 4 and 5 hereof, and notwithstanding Sections 3(b) and 3(c) above, following the first Qualified Public Offering, in the event that
any Initial Holder Transfers all or any portion of such Initial Holder’s Effective Date Common Shares (other than pursuant to a Permitted Transfer), a Stockholder may Transfer up to a Pro Rata Portion of such Stockholder’s Restricted
Stock; provided, however, that in any 365-day period in which such Stockholder is permitted to Transfer shares of Restricted Stock under Section 3(b) and in any calendar year in which such Stockholder is permitted to
Transfer shares of Restricted Stock under Section 3(c) (including clause (ii) thereof), such Stockholder’s right to transfer a Pro Rata Portion of its Restricted Stock under this Section 3(d) shall apply only to the
extent that the aggregate number of Effective Date Common Shares held at the commencement of such 365-day period or calendar year and Transferred by Initial Holders in such 365-day period or calendar year, as a percentage of the aggregate number of
Effective Date Common Shares held by Initial Holders at the commencement of such 365-day period or calendar year, exceeds the maximum percentage of such Stockholder’s shares of Restricted Stock that such Stockholder is permitted to sell in such
365-day period or calendar year, with the result that only such excess number of Effective Date Common Shares so Transferred by Initial Holders will be taken into account in determining such Stockholder’s Pro Rata Portion for purposes of this
Section 3(d). The rights described in this Section 3(d) shall expire on the Restriction Expiration Date. 

  

	 	(e)	 No Transfer may be made pursuant to this Section 3 which would violate or be inconsistent with any other agreement a Stockholder may have with the
Company, or which would result in registration by the Company or of any securities of the Company being required under any applicable laws (unless such Transfer is made in connection with and subject to any such registration). No Transfer may be
made under this Section 3, unless the Transferee (i) agrees in writing with the Company to be bound by the provisions of this Agreement as though it were a Stockholder, and (ii) unless waived by the Board (or a designee of the
Board to whom such authority has been delegated), causes to be delivered to the Company, at such Transferee’s sole cost and expense, a favorable opinion of legal counsel reasonably acceptable to the Board (or a designee of the Board to whom
such authority has been delegated), to the effect that such Transfer does not violate or result in registration being required under any applicable law. In addition, such Transferee shall execute and deliver such other instruments and documents, in
form and substance reasonably satisfactory to the Board (or a designee of the Board to whom such authority has been delegated) (including, any instrument necessary to cause the Transferee to become a Stockholder), as are reasonably requested by the
Company in connection with such Transfer. Upon compliance with all 

  

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provisions hereof, all other Stockholders agree to execute and deliver such amendments hereto as are necessary to cause such Transferee to become a
Stockholder. Following the first Public Offering, the second, third and fourth sentences of this Section 3(e) shall not apply in the case of Transfers pursuant to (i) a registration statement under the Securities Act or (ii) a
broad distribution sale. 

  

	 	(f)	Notwithstanding any other provision of this Section 3, no Stockholder may Transfer, and no Person may acquire, the legal or beneficial ownership of any Restricted Stock
unless such acquiring Person’s ownership of Restricted Stock is not reasonably likely to jeopardize any licensing from a Governmental Authority with respect to the Company or any of its Subsidiaries, as determined by the Board in its reasonable
discretion. Following the first Public Offering, the restrictions described in this Section 3(f) shall be qualified by the “actual knowledge” of the Transferring Stockholder in the case of Transfers pursuant to an underwritten
public offering or a broad distribution sale. 

  

	 	(g)	A Transferee who becomes a Stockholder pursuant to this Section 3 shall have, to the extent Transferred, the rights and powers, and shall be subject to the restrictions
and liabilities, of a Stockholder under this Agreement. 

  

	 	(h)	Under no circumstances shall a Transfer be made (i) to a competitor of the Company engaged in one or more of the hospitality, lodging and/or gaming industries, (ii) to an
aggregator (meaning, a Person who is required to file a Schedule 13D (or successor form) under the Exchange Act disclosing an intent other than for investment) or (iii) which would cause a Stockholder to violate any provision of this Agreement,
including Section 9(e) hereof. Following the first Public Offering, the restrictions described in this Section 3(h) shall be qualified by the “actual knowledge” of the Transferring Stockholder in the case of
Transfers pursuant to an underwritten public offering or a broad sale distribution. 

  

	 	(i)	For the purposes of Section 3(f) and 3(h), in the case of Transfers pursuant to an underwritten public offering or a broad distribution sale, a Transferring
Stockholder will be deemed to have “actual knowledge” only of (i) transferees disclosed in the final prospectus, prospectus supplement, offering memorandum or offering circular for such public offering or broad distribution sale.

 4. Right of First Refusal. 
  

	 	(a)	Subject to Section 4(e), the provisions of this Section 4 shall apply (i) to all Transfers prior to the consummation of the first Public Offering and
(ii) following the consummation of the first Public Offering, only in the event that the number of shares of Common Stock proposed to be Transferred by a Stockholder (and its Affiliates) together with any shares of Common Stock then proposed to
be Transferred by the other Stockholders (and their Affiliates) exceeds two percent (2%) of the then outstanding shares of Common Stock. 

  

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	 	(b)	Subject to Section 4(e), prior to the consummation of the first Public Offering, if any Stockholder is permitted and proposes to Transfer all or any portion of its
Common Stock in accordance with this Agreement to a third party purchaser, then such Stockholder (the “Section 4(b) Selling Stockholder”) shall, prior to consummating such sale, offer in a written notice to Transfer such Common
Stock to the Company, specifying the terms and conditions of such proposed Transfer as offered by the third party purchaser (the “Section 4(b) Offer Notice”). The Company shall have twenty-one (21) days from the date the
Section 4(b) Offer Notice was received to accept the offer to Transfer all, but not less than all, of the Common Stock subject to the Section 4(b) Offer Notice. If the Company does not accept the offer provided in the Section 4(b)
Offer Notice within such period, it shall be deemed to have rejected the offer. The closing of any Transfer pursuant to this Section 4(b) shall occur in accordance with the terms and provisions of the offer and this Agreement. If the
Company does not accept such offer pursuant to this Section 4(b), then at the expiration of the twenty-one (21) day notice period (or, if earlier, upon the express rejection in writing by the Company of such offer), subject only to
Section 3, the Section 4(b) Selling Stockholder may Transfer the offered Common Stock to the proposed Transferee, provided that such Transfer occurs within sixty (60) days after the expiration of such twenty-one (21) day
period and is made on terms and conditions no more favorable to the Transferee in the aggregate than the terms and conditions specified in the Section 4(b) Offer Notice. To the extent shares of Common Stock are to be Transferred to the Company
pursuant to this Section 4(b), each Section 4(b) Selling Stockholder shall cause such shares of Common Stock to be Transferred free and clear of all liens, claims, encumbrances and other restrictions (other than as set forth in this
Agreement). 

  

	 	(c)	 Subject to Section 4(e), following the consummation of the first Public Offering, if any Stockholder is permitted and proposes to Transfer all or any
portion of its Common Stock in accordance with this Agreement to a third party purchaser, then such Stockholder (the “Section 4(c) Selling Stockholder”) shall, prior to consummating such sale, offer in a written notice to Transfer
such Common Stock to the Company at the Applicable Market Value (the “Section 4(c) Offer Notice”) as of the date of such Section 4(c) Offer Notice. The Company shall have five (5) Business Days from the date the
Section 4(c) Offer Notice was received to accept the offer to Transfer all, but not less than all, of the Common Stock subject to the Section 4(c) Offer Notice. If the Company does not accept the offer provided in the Section 4(c)
Offer Notice within such period it shall be deemed to have rejected the offer. The closing of any Transfer pursuant to this Section 4(c) shall occur within three (3) Business Days following acceptance by the Company of such offer.
If the Company does not accept such offer pursuant to this Section 4(c), then at the expiration of the five (5) Business Day notice period (or, if earlier, upon the express rejection in writing by the Company of such offer), subject
only to Section 3, the Section 4(c) Selling Stockholder may Transfer the offered Common Stock to the proposed Transferee, provided that such Transfer (a) occurs within (i) three (3) Business Days, in the case of a
private placement, after the expiration of such five (5) Business Day period or (ii) fifteen (15) Business Days, in the case of a public offering pursuant to a registration 

  

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statement, after the expiration of such five (5) Business Day period and (b) is made on terms and conditions no more favorable in the aggregate to
the Transferee than the terms and conditions specified in the Section 4(c) Offer Notice; provided that a downward fluctuation of five percent (5%) or less in the price per share being paid by the proposed Transferee caused by a drop
in the market price of the Common Stock during the three (3) Business Day or fifteen (15) Business Day period, as the case may be, after the expiration of such five (5) Business Day period shall not be taken into account in
determining whether the Transfer to the proposed Transferee is made on terms and conditions no more favorable in the aggregate to the Transferee than the terms and conditions specified in the Section 4(c) Offer Notice. To the extent shares of
Common Stock are to be Transferred to the Company pursuant to this Section 4(c), each Section 4(c) Selling Stockholder shall cause such shares of Common Stock to be Transferred free and clear of all liens, claims, encumbrances and
other restrictions (other than as set forth in this Agreement). 

  

	 	(d)	Any proposed Transfer by a Section 4(b) Selling Stockholder or Section 4(c) Selling Stockholder not consummated within the time periods set forth in this
Section 4 shall again be subject to this Section 4 and shall require compliance by such Section 4(b) Selling Stockholder or Section 4(c) Selling Stockholder with the procedures described in this
Section 4. The exercise or non-exercise of the rights of the Company under this Section 4 with respect to any proposed Transfer shall not adversely affect its rights with respect to subsequent Transfers by a Section 4(b)
Selling Stockholder or a Section 4(c) Selling Stockholder under this Section 4. 

  

	 	(e)	The provisions of this Section 4 are subordinate to those of Section 5, and shall not apply to Transfers under Section 5 or to any Transfer
permitted by Section 3(a)(i), 3(a)(ii) or 3(a)(iv). 

 5. Drag-Along Right. 
  

	 	(a)	 In connection with a Change of Control Transaction, the Company shall have the right to require each Stockholder (i) to convert such Stockholder’s shares
of Convertible Stock, if any, into Common Stock, and (ii) to participate in such Change of Control Transaction on the same terms, conditions and price per share of Common Stock as those applicable to the other holders of Common Stock of the
Company (with respect to their Common Stock). In addition, upon the request of the Company, the Stockholders agree to vote in favor of such Change of Control Transaction, or any sale, lease or exclusive license of all or substantially all of the
Company’s assets (directly or indirectly) to one or more Persons who are not Affiliates of the Company in a transaction or series of related transactions approved by the Board, and the Company shall have the right to require each Stockholder to
vote for, consent to and raise no objection to any such transaction (or transactions); and if such right is exercised by the Company, each Stockholder shall vote all of its Common Stock in favor of, and shall raise no objection to, any such
transaction (or transactions). In the event that the Company exercises its rights 

  

 12 

	 	 
pursuant to this Section 5, (i) no Stockholder will be obligated to pay more than its pro rata share of transaction expenses incurred (based
on the proportion of the aggregate transaction consideration received) in connection with such Change of Control Transaction to the extent that such expenses are incurred for the benefit of all stockholders and are not otherwise paid by the Company
or the acquiring party (expenses incurred by or on behalf of a stockholder for its sole benefit not being considered expenses incurred for the benefit of all stockholders) and (ii) any representations and warranties made by and indemnifications
provided by the Stockholders will be on a several and not a joint basis with Stockholders and other stockholders of the Company participating in such transaction. 

  

	 	(b)	In the event that the Company desires to exercise its rights pursuant to this Section 5, the Company shall notify each Stockholder in writing of the proposed Transfer no
less than fifteen (15) Business Days prior to the contemplated consummation date of the proposed Transfer or transaction (the “Drag Notice”). Such notice shall set forth: (i) a description of the proposed Transfer or other
transaction, (ii) the name of the proposed purchaser, and (iii) the proposed amount and form of consideration and terms and conditions of payment offered by the proposed purchaser. Any proposed Transfer or transaction pursuant to this
Section 5 that is not consummated within one hundred twenty (120) days following the date of the Drag Notice, shall again be subject to the notice provisions of this Section 5(b) and shall require compliance by the
Company with the procedures described in this Section 5(b). 

  

	 	(c)	To the extent in conflict with the provisions of this Section 5, the provisions of Sections 4 and 6 are subordinate to and shall not apply to any Transfer
or exercise of rights contemplated by this Section 5. 

 6. Tag Along Right. 
  

	 	(a)	Subject to the fiduciary duties of the Board, the Company will not agree to consummate a Change of Control Transaction with respect to which the Stockholders are not given the right
to participate on the same terms, conditions and price per share of Common Stock as those applicable to the other holders of Common Stock of the Company (with respect to their Common Stock). In the event that a Stockholder exercises its rights
pursuant to this Section 6, (i) no Stockholder will be obligated to pay more than its pro rata share of transaction expenses incurred (based on the proportion of the aggregate transaction consideration received) in connection with
such Change of Control Transaction to the extent that such expenses are incurred for the benefit of all stockholders and are not otherwise paid by the Company or the acquiring party (expenses incurred by or on behalf of a stockholder for its sole
benefit not being considered expenses incurred for the benefit of all stockholders) and (ii) any representations and warranties made by and indemnifications provided by any Stockholder participating in such Change of Control Transaction will be
on a several and not a joint basis with other stockholders of the Company participating in such transaction. 

  

 13 

	 	(b)	In the event that the Company desires to consummate a Change of Control Transaction, the Company shall notify each Stockholder in writing of such proposed transaction no less than
fifteen (15) Business Days prior to the contemplated consummation date of such proposed transaction (the “Tag Notice”). Such Tag Notice shall set forth: (i) a description of the proposed transaction, (ii) the name of
the proposed purchaser, and (iii) the proposed amount and form of consideration and terms and conditions of payment offered by the proposed purchaser. Each Stockholder will have the right, upon written notice to the Company, delivered within
ten (10) days after receipt of the Tag Notice, and provided such Stockholder has converted all of its shares of Convertible Stock into Common Stock to participate in the proposed Change of Control Transaction on the terms and conditions set
thereof (such participation rights being hereinafter referred to as “Tag Rights”). In the event a Stockholder has not notified the Company of its intent to exercise such Tag Rights within ten (10) days of receipt of a Tag
Notice, such Stockholder will be deemed to have elected not to exercise such Tag Rights with respect to the transaction contemplated by such Tag Notice. Any proposed Change of Control Transaction that is the subject of a Tag Notice that is not
consummated within one hundred twenty (120) days following the date of the Tag Notice shall again be subject to the notice provisions of Section 6 and shall require compliance by the Company and the Stockholders with the procedures
described in this Section 6(b). 

  

	 	(c)	The provisions of this Section 6 shall be subject and subordinate to the provisions of Section 4 and 5 and, to the extent in conflict therewith, shall
not apply. 

 7. Pre-Emptive Rights. 
  

	 	(a)	Each Stockholder (for the purpose of this Section 7, each a “Pre-Emptive Right Holder”) shall have the right to purchase such Pre-Emptive Right
Holder’s Overall Percentage Interest (for the purpose of this Section 7 the “Pre-Emptive Allocation”), or any lesser number, of any new shares of Common Stock, or any other equity securities of the Company,
including securities convertible into, exercisable for, or exchangeable for Common Stock, that the Company may, from time to time, propose to sell and issue, in each case, other than Excluded Securities and securities issued in connection with stock
splits, stock dividends, in-kind equity distributions and recapitalizations (collectively, “New Securities”). 

  

	 	(b)	 In the event the Company proposes to undertake an issuance of New Securities, it will give each Pre-Emptive Right Holder written notice of such issuance (which
notice shall be delivered at least fifteen (15) days prior to such issuance), describing the New Securities and the price and terms upon which the Company proposes to issue the same, and setting forth the number of shares or other number of New
Securities which such Stockholder is entitled to purchase pursuant to such Stockholder’s Pre-Emptive Allocation and the aggregate purchase price therefor. Each Pre-Emptive Right Holder will have 

  

 14 

	 	 
ten (10) days from the date of delivery of any such notice from the Company to agree to purchase a specified portion of such New Securities up to such
Stockholder’s Pre-Emptive Allocation, or any lesser number, for the price and upon the terms specified in the notice (provided that the Pre-Emptive Right Holders shall be entitled to pay cash in lieu of any non-cash consideration) by giving
written notice to the Company and stating therein the quantity of New Securities to be purchased. If not all of the Pre-Emptive Right Holders elect to purchase their full Pre-Emptive Allocation of New Securities, then the Company shall notify in
writing the fully-participating Pre-Emptive Right Holders of such and offer such holders the right to acquire such unsubscribed New Securities. Each fully-participating Pre-Emptive Right Holder so notified shall have the right to purchase its pro
rata share of the unsubscribed New Securities (in proportion to the Overall Percentage Interests of all fully participating Pre-Emptive Right Holders) within five (5) days from the date of such notice from the Company by giving written notice
to the Company and stating therein the quantity of unsubscribed New Securities to be purchased. 

  

	 	(c)	In the event any Pre-Emptive Right Holder fails to exercise such right of first refusal within said ten (10) day period (or, as applicable, such 15-day period), the Company
will have seventy five (75) days thereafter to sell the New Securities as to which such Pre-Emptive Right Holder’s right was not exercised, at a price and upon such other terms no more favorable to the purchasers thereof than those
specified in the Company’s notice. In the event the Company has not sold such New Securities within said seventy five (75)-day period, the Company will not thereafter issue or sell any New Securities without first offering such New Securities
to each Pre-Emptive Rights Holder in the manner provided above. 

  

	 	(d)	The pre-emptive rights granted by this Section 7 shall be exercisable only by “accredited investors” as defined under Section 501 of Regulation D of the
Securities Act. 

  

	 	(e)	The closing of any sale of New Securities shall be on the date set forth in the notice provided by the Company pursuant to Section 7(b); provided, that such date
shall be extended as to any participating Pre-Emptive Right Holder for up to forty (40) days (or such longer period as may be approved by the Company, which approval shall not be unreasonably delayed or withheld) for purposes of obtaining any
necessary approvals from Governmental Authorities. The exercise or non-exercise of the rights of the Pre-Emptive Right Holders under this Section 7 shall not adversely affect their rights to participate in subsequent offerings of New
Securities subject to Section 7. 

 8. Voting; Board Seats; Access. 
  

	 	(a)	Until the later of (i) December 31, 2013 and (ii) the date that Thomas J. Pritzker is no longer the Chairman of the Board of the Company, each Stockholder will vote
all of its Common Stock consistent with the recommendations of a majority of the Board with respect to all matters. 

  

 15 

	 	(b)	Prior to the first Public Offering and so long as Madrone Capital, LLC (or any Affiliate of Madrone Capital, LLC who becomes a Stockholder) owns or has the right to acquire at least
20% of the Common Stock that it acquires or has the right to acquire on the Effective Date, Madrone Capital, LLC (or any Affiliate of Madrone Capital, LLC who becomes a Stockholder) shall have the right to designate, and the Board will appoint, one
(1) representative to the Board, which individual shall be subject to the good faith prior approval of the Nominating and Governance Committee of the Board; provided that each of Rob Walton and Greg Penner shall be deemed approved for
the purposes of this Section 8(b), and Greg Penner shall be the initial appointee pursuant to this Section 8(b). 

  

	 	(c)	Prior to the first Public Offering and so long as GS Sunray Holdings Parallel, L.L.C. owns at least 20% of the Common Stock issuable upon conversion of the Convertible Stock
acquired by such Stockholder on the Effective Date, GS Capital Partners VI Parallel, L.P., the ultimate parent of such Stockholder, shall have the right to designate, and the Board will appoint, one (1) representative to the Board, which
individual shall be subject to the good faith prior approval of the Nominating and Governance Committee of the Board; provided, that Byron Trott shall be deemed approved for the purposes of this Section 8(c), and shall be the
initial appointee pursuant to this Section 8(c). 

  

	 	(d)	A director appointed pursuant to either Section 8(b) or Section 8(c) above may resign, or will be removed either (i) with or without cause at the
direction of the Person who designated such director (or its successor or permitted Transferee), or (ii) by the affirmative vote or written consent of a majority of the remaining members of the Board if such director dies or otherwise becomes
incapable of fulfilling his or her obligations because of injury or physical or mental illness and such incapacity shall exist for thirty (30) Business Days in the aggregate during any consecutive six (6) month period. The Person who
designated any such deceased, removed or resigning director (or its successor or permitted Transferee) shall be entitled to designate a replacement for such director, which individual shall be appointed to the Board (subject to the prior good faith
approval of the Nominating and Governance Committee of the Board). 

  

	 	(e)	The rights to designate representatives for appointment to the Board shall terminate and each Person’s designee to the Board shall resign if so requested by the Company
(i) immediately prior to the consummation of the first Public Offering, and if so requested by the Company, the designating Person will direct its then serving appointed representative to resign from the Board or (ii) at such time as any
Stockholder or any if such Stockholder’s Affiliates has the right (whether or not exercised) to designate or appoint a member of or observer to the Board (or similar governing body) of any entity that is a direct competitor of the Company or
its Subsidiaries. 

  

	 	(f)	For so long as GS Sunray Holdings Parallel, L.L.C. owns any shares of Restricted Stock, the Company covenants and agrees with GS Capital Partners VI Parallel, L.P. as follows:

  

	 	(i)	GS Capital Partners VI Parallel, L.P. or its representatives may examine the books and records of the Company and visit and inspect its facilities and may reasonably request
information at reasonable times and intervals concerning the general status of the Company’s financial conditions and operations. 

  

 16 

	 	(ii)	On reasonable prior written notice, GS Capital Partners VI Parallel, L.P. or its representatives may discuss the business operations, properties and financial and other conditions
of the Company with the Company’s management and with the Company’s independent accountants and investment bankers. 

 In no event shall the Company be required to provide access to any information that the Company reasonably believes (based on the advice of outside counsel) would constitute attorney/client privileged communications or would violate any
securities laws. 
 9. Standstill. So long as a Stockholder owns shares of Restricted Stock or Convertible Stock (or has the right to acquire
Restricted Stock or Convertible Stock), such Stockholder agrees that, unless (A) specifically invited or otherwise approved in writing by the Board or (B) to the extent that such Stockholder has a right to designate a member of the Board
or has a representative or Affiliate on the Board, as necessary for such Board member to discharge his/her duties as a Board member, neither such Stockholder nor any of its Related Persons will in any manner, directly or indirectly: 
  

	 	(a)	effect or seek, offer or propose (whether publicly or otherwise) to effect, or announce any intention to effect or cause or participate in or in any way assist, facilitate or
encourage any other Person to effect or seek, offer or propose (whether publicly or otherwise) to effect or participate in, (i) any acquisition of any securities (or beneficial ownership thereof) of the Company or any of its Subsidiaries
(except through the proper exercise of preemptive rights granted hereunder), or rights or options to acquire any securities (or beneficial ownership thereof) (if such transaction would not be permitted by Section 9(e) below), or any
assets, indebtedness or businesses of the Company or any of its Subsidiaries or Affiliates, (ii) any tender or exchange offer, merger or other business combination involving the Company, any of the Subsidiaries or Affiliates or assets of the
Company or the Subsidiaries or Affiliates constituting a significant portion of the consolidated assets of the Company and its Subsidiaries or Affiliates, (iii) any recapitalization, restructuring, liquidation, dissolution or other
extraordinary transaction with respect to the Company or any of its Subsidiaries or Affiliates, or (iv) any “solicitation” of “proxies” (as such terms are used in the proxy rules of the Securities and Exchange Commission) or
written consents with respect to any voting securities of the Company or any of its Affiliates. For the purposes of this Section 9(a), the term “Affiliates” means Affiliates of the Company primarily engaged in the hospitality,
lodging and/or gaming industries. 

  

 17 

	 	(b)	form, join or in any way participate in a “group” (within the meaning of Section 13(d) of the Exchange Act) with respect to the Company where such group seeks to
acquire any equity securities of the Company; 

  

	 	(c)	otherwise act, alone or in concert with others, to seek representation on or to control or influence the management, Board or policies of the Company or any of its Subsidiaries;

  

	 	(d)	take any action which would or would reasonably be expected to force the Company to make a public announcement regarding any of the types of matters set forth in
Section 9(a) above; 

  

	 	(e)	own more than twelve percent (12%) of the issued and outstanding Common Stock, unless such ownership arises as a result of any action not taken by or on behalf of such
Stockholder or a Related Person of such Stockholder; or 

  

	 	(f)	request that the Company or any of its representatives, directly or indirectly, amend or waive any provision of this Section 9 (including this clause (f)).

 Each Stockholder further agrees that, if at any time during such period, such Stockholder is approached by any third party concerning its
participation in any transaction or proposed transaction involving the acquisition of all or any portion of the assets, indebtedness or securities of, or any business of, the Company or any of its Subsidiaries, such Stockholder will promptly inform
the Company of the nature of such transaction and the parties involved. 
 Notwithstanding anything in this Section 9 to the contrary, Goldman,
Sachs & Co. and its Affiliates (other than any such Person that owns Restricted Stock) may engage in any brokerage, investment advisory, financial advisory, anti-raid advisory, merger advisory, financing, asset management, trading, market
making, arbitrage and other similar activities (including purchasing securities, assets or indebtedness of the Company or any of its Subsidiaries or Affiliates, and including any activities conducted by Goldman, Sachs & Co. or its
Affiliates’ portfolio companies), provided that, so long as Goldman, Sachs & Co. or any its Affiliates owns shares of Restricted Stock (i) the Investment Banking Division of Goldman, Sachs & Co. will not, without
the Company’s prior written consent, act as financial advisor to any Person for the purpose of such Person (A) making a proposal to acquire (1) control of the Company or any of its Subsidiaries or (2) any material assets of the
Company and Subsidiaries (taken as a whole), (B) taking any other action to acquire (1) control of the Company or any of its Subsidiaries or (2) any material assets of the Company and its Subsidiaries (taken as whole), or
(C) becoming an aggregator (meaning, a Person who is required to file a Schedule 13D (or successor form) under the Exchange Act disclosing an intent other than for investment) of the Company’s securities and (ii) none of Goldman
Sachs & Co. or any of its Affiliates (excluding portfolio companies in which Goldman Sachs & Co. and/or any of its Affiliates own less than a majority of the voting securities) will, without the prior written consent of the
Company, solicit, encourage, otherwise stimulate or participate in any way (or direct any of their portfolio companies to solicit, encourage, otherwise stimulate or participate in any way) in (X) making a proposal to acquire (1) control of
the Company or any of its Subsidiaries or (2) any material assets of the Company and its Subsidiaries (taken as a whole), (Y) taking any other action to acquire (1) control of the Company or any of its 

  

 18 

 
Subsidiaries or (2) any material assets of the Company and its Subsidiaries (taken as a whole), or (Z) becoming an aggregator (meaning, a Person
who is required to file a Schedule 13D (or successor form) under the Exchange Act disclosing an intent other than for investment) of the Company’s securities (provided that nothing herein shall restrict Goldman, Sachs & Co. and its
Affiliates from filing a Schedule 13D in connection with the ownership of Restricted Stock or from amending such Schedule 13D). 
 10. Pledges. A
Stockholder shall not be permitted to pledge, hypothecate or otherwise encumber any of its Common Stock or Convertible Stock without the prior written consent of the Company other than pursuant to a Permitted Pledge. 
 11. Representations and Warranties. Each party hereto represents and warrants that: 
  

	 	(a)	If an entity, such party is duly organized, validly existing and, if applicable, in good standing under the laws of the jurisdiction of its organization. 

 

	 	(b)	Such party possesses the requisite power and authority to enter into and deliver this Agreement, to carry out its obligations hereunder and to consummate the transactions
contemplated hereby. If an entity, such party has properly taken all action required to be taken by it with respect to the execution and delivery of this Agreement, and the consummation of the transactions contemplated hereby.

  

	 	(c)	This Agreement has been duly authorized, executed and delivered by such party and constitutes a legal, valid and binding obligation of such party, enforceable against such party in
accordance with its terms and conditions, except as enforceability thereof may be limited by applicable bankruptcy, reorganization, insolvency or other similar laws affecting creditors’ rights generally or by general principles of equity.

  

	 	(d)	The execution, delivery and performance by such party of this Agreement and the consummation of the transactions contemplated hereby, do not and will not violate, conflict with or
result in the breach of any term, condition or provision of, or require the consent of any Governmental Authority or other Person under, (i) any law, judgment, order, writ, injunction, decree or award of any Governmental Authority to which such
party is subject, (ii) if an entity, the organizational documents of such party or (iii) any license, agreement, commitment or other instrument or document to which such party is a party or by which such party is otherwise bound.

 The representations and warranties contained in this Agreement shall survive the execution of this Agreement. 
 12. Legends. Each certificate or other documents representing shares of Common Stock or Convertible Stock shall bear the following legend until such time as the
Common Stock or Convertible Stock represented thereby is no longer subject to the provisions hereof or such legend is no longer applicable (as determined by the Company in its sole direction): 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR UNDER ANY STATE SECURITIES
LAWS, AND MAY NOT BE SOLD, TRANSFERRED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SAID ACT OR SUCH LAWS AND THE RULES AND REGULATIONS THEREUNDER. 
  

 19 

 THE VOTING, SALE, TRANSFER, ENCUMBRANCE OR OTHER DISPOSITION OF THE SECURITIES REPRESENTED BY THIS
CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A STOCKHOLDERS’ AGREEMENT, DATED AS OF AUGUST 28, 2007, AMONG GLOBAL HYATT CORPORATION AND CERTAIN HOLDERS OF ITS STOCK (AS THE SAME MAY BE AMENDED, MODIFIED, SUPPLEMENTED OR RESTATED
FROM TIME TO TIME), A COPY OF WHICH MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS CERTIFICATE TO THE SECRETARY OF GLOBAL HYATT CORPORATION.” 
 13. Notices. Any notice or communication by the Company or any Stockholder is duly given if in writing and delivered in person or by first class mail (registered or certified, return receipt requested),
facsimile transmission or overnight air courier guaranteeing next day delivery, to the recipient’s address: 
 If to the Company:

 Global Hyatt Corporation 
 Hyatt Center, 12th Floor 
 71 South Wacker Drive 
 Chicago, Illinois 60606 
 Facsimile No.: (312) 780-5282 
 Attention: General Counsel 
  

 20 

 With a copy to: 
 Latham & Watkins LLP 
 Sears Tower, Suite 5800 
 233 South Wacker Drive 
 Chicago, Illinois
60606 
 Facsimile No.: (312) 993-9767 
 Attention: Michael A. Pucker 
 If to a Stockholder, to the address indicated on Schedule 1 attached
hereto as amended from time to time. The Company or any Stockholder, by notice to the other parties hereto, may designate additional or different addresses for subsequent notices or communications. 
 All notices and communications will be deemed to have been duly given: at the time delivered by hand, if personally delivered; five (5) Business
Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day
delivery. If a notice or communication is mailed, transmitted or sent in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it. 
 14. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS INTERNAL CONFLICTS OF LAWS PRINCIPLES.

 15. Arbitration. 
  

	 	(a)	 Except as otherwise specifically provided in this Agreement, any and all disputes, controversies or claims arising out of, relating to or in connection with this
Agreement, including, without limitation, any dispute regarding its arbitrability, validity or termination, or the performance or breach thereof, shall be exclusively and finally settled by arbitration administered by the AAA. Any party to this
Agreement may initiate arbitration by notice to any other party (a “Request for Arbitration”). The arbitration shall be conducted in accordance with the AAA rules governing commercial arbitration in effect at the time of the
arbitration, except as they may be modified by the provisions of this Agreement. The place of the arbitration shall be Chicago, Illinois. The arbitration shall be conducted by a single arbitrator appointed by the Stockholder(s) from a list of at
least five (5) individuals who are independent and qualified to serve as an arbitrator submitted by the Company within fifteen (15) days after delivery of the Request for Arbitration. The Stockholder(s) will make its appointment within ten
(10) days after it receives the list of qualified individuals from the Company. In the event the Company fails to send a list of at least five (5) qualified individuals to serve as arbitrator to the Stockholder within such fifteen-day time
period, then the Stockholder shall appoint such arbitrator within twenty-five (25) days from the Request 

  

 21 

	 	 
for Arbitration. In the event the Stockholder fails to appoint a person to serve as arbitrator from the list of at least five (5) qualified individuals
within ten (10) days after its receipt of such list from the Company, the Company shall appoint one of the individuals from such list to serve as arbitrator within five (5) days after the expiration of such ten (10) day period. Any
individual will be qualified to serve as an arbitrator if he or she shall be an individual who has no material business relationship, directly or indirectly, with any of the parties to this Agreement and who has at least ten (10) years of
experience in the practice of law with experience in corporate governance. The arbitration shall commence within thirty (30) days after the appointment of the arbitrator; the arbitration shall be completed within sixty (60) days of
commencement; and the arbitrator’s award shall be made within thirty (30) days following such completion. The parties may agree to extend the time limits specified in the foregoing sentence. 

  

	 	(b)	The arbitrator will apply the substantive law (and the law of remedies, if applicable) of the State of Delaware without reference to its internal conflicts of laws principles, and
will be without power to apply any different substantive law. The arbitrator will render an award and a written opinion in support thereof. Such award shall include the costs related to the arbitration and reasonable attorneys’ fees and
expenses to the prevailing party. The arbitrator also has the authority to grant provisional remedies, including injunctive relief, and to award specific performance. The arbitrator may entertain a motion to dismiss and/or a motion for summary
judgment by any party, applying the standards governing such motions under the Federal Rules of Civil Procedure, and may rule upon any claim or counterclaim, or any portion thereof (a “Claim”), without holding an evidentiary
hearing, if, after affording the parties an opportunity to present written submission and documentary evidence, the arbitrator concludes that there is no material issue of fact and that the Claim may be determined as a matter of law. The parties
waive, to the fullest extent permitted by law, any rights to appeal, or to review of, any arbitrator’s award by any court. The arbitrator’s award shall be final and binding, and judgment on the award may be entered in any court of
competent jurisdiction, including the courts of Cook County, Illinois. Each party to this Agreement irrevocably submits to the non-exclusive jurisdiction and venue in the courts of the State of Illinois and of the United States sitting in Chicago,
Illinois in connection with any such proceeding, and waives any objection based on forum non conveniens. EACH PARTY TO THIS AGREEMENT IRREVOCABLY WAIVES SUCH PARTY’S RIGHT TO A TRIAL BY JURY IN CONNECTION WITH ANY ACTION TO ENFORCE AN
ARBITRATOR’S DECISION OR AWARD PURSUANT TO SECTION 15(a) OF THIS AGREEMENT. 

  

	 	(c)	The parties agree to maintain confidentiality as to all aspects of the arbitration, except as may be required by applicable law, regulations or court order, or to maintain or
satisfy any suitability requirements for any license by any state, federal or other regulatory authority or body, including professional societies and organizations; provided, that nothing herein shall prevent a party from disclosing
information regarding the arbitration for purposes of enforcing the award. The parties further agree to obtain the arbitrator’s agreement to preserve the confidentiality of the arbitration. 

  

 22 

 16. Successors and Assigns. None of the parties shall have the right to assign any of its rights or delegate any
of its obligations under this Agreement or any part hereof, except as expressly permitted herein or, in the case of any Stockholder with the prior written consent of the Company, which consent will not be unreasonably withheld. The provisions of
this Agreement shall be binding upon and accrue to the benefit of the parties hereto and their respective permitted successors and assigns. 
 17. No
Other Relationships. Nothing contained herein, in the Registration Rights Agreement or in any other agreement delivered pursuant hereto or thereto shall be construed to create any agency relationship among the Stockholders. No Stockholder shall
owe any fiduciary duties to the Company or to any other Stockholder by virtue of this Agreement. To the extent that at law or in equity, a Stockholder has duties (including fiduciary duties) and liabilities relating thereto to the Company or to any
other Stockholder, a Stockholder acting under this Agreement shall not be liable to the Company or to any Stockholder for its good faith reliance on the provisions of this Agreement. The provisions of this Agreement, to the extent that they restrict
the duties and liabilities of a Stockholder otherwise existing at law or in equity, are agreed by the parties hereto to replace such other duties and liabilities of such Stockholder. 
 18. Severability. If any provision of this Agreement (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance shall be held invalid, illegal or
unenforceable in any respect by a Governmental Authority, such invalidity, illegality or unenforceability shall not affect any other provision hereof (or the remaining portion thereof) or the application of such provision to any other persons or
circumstances. Upon such determination that any provision of this Agreement (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance is invalid, illegal or unenforceable, the parties
hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties hereto as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent
possible. 
 19. Remedies. Each of the parties to this Agreement will be entitled to enforce its rights under this Agreement specifically, to recover
damages by reason of any breach of any provision of this Agreement and to exercise all other rights existing in its favor. The parties hereto agree and acknowledge that money damages may not be an adequate remedy for any breach of the provisions of
this Agreement and that any party shall be entitled to immediate injunctive relief or specific performance without bond or the necessity of showing actual monetary damages in order to enforce or prevent any violations of the provisions of this
Agreement. 
 20. Confidentiality; Public Announcements, Etc. Each Stockholder agrees, and agrees to cause its Affiliates, to at all times hold in
confidence and keep secret and inviolate all of the Company’s confidential information, including, without limitation, the terms and conditions of this Agreement and all unpublished matters relating to the business, property, accounts, books,
records, customers and contracts of the Company which the Stockholder or any such Affiliates may or hereafter come to know; provided, however, that, except as otherwise provided herein, the Stockholder may disclose any such information
(a) to its Affiliates, directors, officers, 

  

 23 

 
employees, representatives and agents, including accountants, legal counsel and other advisors who have a need to know such information in connection with
the Stockholder’s investment in the Company (it being understood and agreed that (i) the Persons to whom such disclosure is made will be informed of the confidential nature of such information and instructed to keep such information
confidential, (ii) subject to the last sentence of this Section 20, no such information will be used to the detriment of the Company and (iii) such Stockholder shall be responsible for breach by any such Person of the
provisions of this Section 20), (b) that otherwise is or has become generally available to the public (without breach of this Section 20), (c) as to which Stockholder has obtained knowledge from sources other than
the Company or the directors or the officers of the Company (provided, that such source is not bound by a confidentiality agreement with the Company), (d) with the consent of the Company, (e) that it is required to disclose by law or
subpoena or judicial process or as is required to enforce its rights hereunder or that is required to be disclosed under the rules of any stock exchange to which any Stockholder or an Affiliate is subject, in which case, the disclosing Stockholder
shall provide the Company with prompt advance notice of such disclosure so that the Company shall have the opportunity if it so desires to seek a protective order or other appropriate remedy and, in connection with any such disclosure required by
the Securities and Exchange Commission (or similar governmental authority) or the rules of any stock exchange to which a Stockholder or any Affiliate of a Stockholder is subject, the disclosing Stockholder shall use reasonable efforts to obtain
confidential treatment for such disclosure (to the extent reasonably available), (f) to a potential Transferee, provided that prior to such disclosure, (i) the Company shall have approved of such Transferee and (ii) such potential
Transferee shall have entered into a confidentiality agreement on similar terms and conditions as contained in this Section 20 in form and substance reasonably satisfactory to the Company and with respect to which the Company is made an
express third party beneficiary; provided, however, subclauses (i) and (ii) of this clause (f) shall not apply to a potential Transferee in connection with a sale pursuant to a registration statement under the Securities
Act or a broad distribution sale, or (g) to the limited partners of the investment funds investing through such Stockholder in the event and only to the extent that such disclosure is required by the partnership documents of such investment
funds (including, without limitation, information regarding the Company’s identity, jurisdiction of incorporation, industry and business, a description and the amount of Company securities owned by such Stockholder, the total investment amount
of such Stockholder in the Company, and proceeds received by such Stockholder from the Company); provided that the Stockholder proposing to disclose any such information shall provide the chief executive officer of the Company with a final
draft of any proposed disclosure in at least five (5) Business Days in advance of dissemination to such Stockholder’s limited partners for approval (which approval shall not be unreasonably withheld or delayed). Each Stockholder and its
Affiliates agree that such confidential information shall be used only in connection with the business of the Company, and the Stockholder’s investment therein, and not for any other purpose, including, without limitation, in connection with
any competitive or potentially competitive activities. 
 21. Counterparts; Effectiveness. This Agreement may be executed by any one or more of the
parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such respective counterparts shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of
this Agreement by facsimile or other electronic image scan shall be effective as delivery of a manually executed counterpart of this Agreement. 
  

 24 

 22. No Trustee Liability. When this Agreement is executed by a trustee of a trust, such execution is by the
trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Agreement shall be
construed as imposing any liability on any such trustee personally to pay any amounts required to be paid hereunder or thereunder, or to perform any covenant, either express or implied, contained herein or therein, all such personal liability, if
any, having been expressly waived by the parties by their execution hereof. Any liability of a trust hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof, and any recourse against a trustee shall be solely
against the assets of the pertinent trust. 
 23. Aggregation. All shares of Common Stock held by any Affiliates of any Stockholder shall be
aggregated together with the shares of Common Stock held by such Stockholder for the purposes of determining availability of rights and application of obligations of such Stockholder under this Agreement. 
 24. Entire Agreement. This Agreement, the Framework Agreement and the Purchase Agreement (together with the agreements delivered or to be delivered pursuant
thereto) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede and shall supersede all prior agreements and understandings (whether written or oral) between the Company and the Stockholders, or any of
them, with respect to the subject matter hereof. 
 25. Amendment and Waiver. This Agreement may be amended, superseded, canceled, renewed or
extended, and the terms hereof may be waived, only by a written instrument signed by the Company and each of the Stockholders or, in the case of a waiver, by the party waiving compliance. No delay on the part of any party on exercising any right,
power or privileges hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party of any right, power or privilege, or any single or partial exercise of any such right, power or privilege, preclude any further exercise
thereof or the exercise of any other such right, power or privilege. 
 26. No Third Party Beneficiaries. Nothing in this Agreement is intended or
shall be construed to give any Person, other than the parties hereto, their successors and permitted assigns, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. 
 27. Waiver of Certain Damages. To the extent permitted by applicable law, each party hereto agrees not to assert, and hereby waives, any claim against any other
party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any of the transactions contemplated
hereby. 
 28. Termination. This Agreement shall terminate and be of no further force and effect (a) with respect to any individual Stockholder,
on the first date when such Stockholder no longer holds any shares of Restricted Stock or Convertible Stock, and (b) in its entirety, upon the first to occur of (i) all of the equity securities of the Company being owned by a single Person
or (ii) the agreement in writing of the Company and each of the Stockholders. 
  

 25 

 29. Company Logo 
 Subject to the prior written consent of the Company (which consent shall not be unreasonably withheld or delayed), each of the GS Investors and its respective Affiliates may use the Company’s name and logo in
marketing materials of any of the GS Investors or their respective Affiliates; provided that such logos are used solely in a manner that is not intended to nor reasonably likely to harm or disparage the Company or the reputation or goodwill
of the Company and its marks. The GS Investors or their respective Affiliates, as applicable, shall include a trademark attribution notice giving notice of the Company’s ownership of its trademarks in the marketing materials in which the
Company’s name and logo appear. 
 [Signature pages follow] 
  

 26 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Stockholders’ Agreement as of the
date first above written. 
  

			
	THE COMPANY:
	
	GLOBAL HYATT CORPORATION
		
	By:	 	 /s/ Mark S. Hoplamazian

	Name:	 	Mark S. Hoplamazian
	Title:	 	President and Chief Executive Officer

			
	MADRONE CAPITAL, LLC
		
	By:	 	 /s/ Greg Penner

	Name:	 	Greg Penner
	Title:	 	Manager

  

 2 

			
	GS SUNRAY HOLDINGS, L.L.C.
		
	By:	 	 GS CAPITAL PARTNERS VI FUND, L.P.
 as a
member

		
	By:	 	 GSCP VI ADVISORS, L.L.C.,
 its general
partner

		
	By:	 	 /s/ Katherine B. Enquist

	Name:	 	Katherine B. Enquist
	Title:	 	Vice President
	
	GS SUNRAY HOLDINGS, L.L.C.
		
	By:	 	 GS SUNRAY OFFSHORE FUND, L.P.
 as a
member

		
	By:	 	 GS CAPITAL PARTNERS VI OFFSHORE FUND, L.P.,
 its
general partner

		
	By:	 	 GSCP VI OFFSHORE ADVISORS, L.L.C.,
 its general
partner

		
	By:	 	 /s/ Katherine B. Enquist

	Name:	 	Katherine B. Enquist
	Title:	 	Vice President
	
	GS SUNRAY HOLDINGS, L.L.C.
		
	By:	 	 GS SUNRAY GERMAN FUND, L.P.
 as a
member

		
	By:	 	 GS SUNRAY GERMAN FUND I, LTD.
 its general partner

		
	By:	 	 /s/ Katherine B. Enquist

	Name:	 	Katherine B. Enquist
	Title:	 	Vice President

			
	
	GS SUNRAY HOLDINGS PARALLEL, L.L.C.
		
	By:	 	 GS CAPITAL PARTNERS VI PARALLEL, L.P.,
 as a member

		
	By:	 	 GSCP VI ADVISORS, L.L.C.,
 its general
partner

		
	By:	 	 /s/ John E. Bowman

	Name:	 	John E. Bowman
	Title:	 	Vice President
	
	Solely with respect to Sections 8(c), 8(d), 8(e) and 8(f)
	
	GS CAPITAL PARTNERS VI PARALLEL, L.P.
		
	By:	 	 GSCP ADVISORS VI, L.L.C.,
 its general
partner

		
	By:	 	 /s/ John E. Bowman

	Name:	 	John E. Bowman
	Title:	 	Vice President

 SCHEDULE 1 
 Stockholders 
 Stockholder Name and Address 
 MADRONE CAPITAL, LLC 
 3000 Sand Hill Road 
 Building 1, Suite 155 
 Menlo Park, CA 94027 
 Attention: Greg Penner 
 Telephone: 650-854-8300 
 Facsimile: 650-233-9352 
 GS SUNRAY HOLDINGS, L.L.C. 
 c/o Goldman, Sachs & Co. 
 85 Broad Street, 10th Floor 
 New York, NY 10004 
 Fax: 212 357 5505 
 Attn: John Bowman 
 c/o Goldman, Sachs & Co. 
 One New York Plaza, 38th Floor 
 New York, NY 10004 
 Fax: 212 493 9884 
 Attn: Ben Adler, Esq. 
 GS SUNRAY HOLDINGS PARALLEL, L.L.C. 
 c/o Goldman, Sachs &
Co. 
 85 Broad Street, 10th Floor 
 New York, NY 10004

 Fax: 212 357 5505 
 Attn: John Bowman 
 c/o Goldman, Sachs & Co. 
 One New York Plaza, 38th Floor

 New York, NY 10004 
 Fax: 212 493 9884 
 Attn: Ben Adler, Esq. 

 AMENDMENT NO. 1 TO 
 GLOBAL HYATT CORPORATION 2007 STOCKHOLDERS’ AGREEMENT 
 This
AMENDMENT NO. 1 TO GLOBAL HYATT CORPORATION 2007 STOCKHOLDERS’ AGREEMENT, dated as of October 25, 2007 (this “Amendment”), is made and entered into by and among Global Hyatt Corporation, a Delaware corporation (the
“Company”), and the parties set forth on Schedule 1 to that certain Global Hyatt Corporation 2007 Stockholders’ Agreement, dated as of August 28, 2007 (the “Original Agreement”), as amended by this
Amendment. 
 WITNESSETH: 
 WHEREAS, the Company and Mori Building Capital Investment LLC, a Japanese limited liability company (“Mori”), have entered into that certain Purchase and Framework Agreement, dated as of October 25, 2007 (the
“Mori Framework Agreement”), pursuant to which the Company has agreed to issue and sell, and Mori has agreed to purchase, at the price and at the time stated in and subject to the terms and conditions of the Mori Framework
Agreement, a number of shares of the Company’s common stock, par value $0.01 per share, to be determined pursuant to Article IV of the Subscription Agreement (as defined in the Mori Framework Agreement); 
 WHEREAS, Mori has agreed to become a party to the Original Agreement, as amended by this Amendment, on the terms set forth herein; 
 WHEREAS, each of the Company and the parties set forth on Schedule 1 to the Original Agreement, as amended by this Amendment, has determined that
it is in its best interest that Mori be joined to the Original Agreement, as amended by this Amendment, and accordingly, the Company and the parties hereto desire to amend the Original Agreement in the manner set forth herein; and 
 WHEREAS, pursuant to Section 25 of the Original Agreement, the Original Agreement may be amended by a written instrument signed by the
Company and each of the Stockholders (as defined in the Original Agreement). 
 NOW, THEREFORE, in consideration of the foregoing and the
mutual premises herein contained, it is hereby agreed that: 
 1. Definitions. Capitalized terms used but not defined herein shall
have the respective meanings given to such terms in the Original Agreement, as amended hereby. 
 2. Amendments to Section 1 and
Modification of Other Terms. 
 (a) The definition of “Framework Agreement” contained in Section 1
of the Original Agreement is hereby deleted and amended and restated to read in its entirety as follows: 
 “Framework Agreements” means (i) the Purchase and Framework Agreement dated as of August 28, 2007 between the Company and Madrone Capital, LLC and (ii) the Purchase and Framework Agreement dated as of
October 25, 2007 between the Company and Mori Building Capital Investment LLC, in each case as may from time to time be supplemented or amended by one or more agreements supplemental thereto entered into pursuant to the applicable provisions
thereof. 
 STRICTLY CONFIDENTIAL 

 (b) For purposes of this Amendment and the Original Agreement, as amended by this
Amendment, the term “Agreement” shall refer to the Original Agreement as amended hereby and from time to time. 
 3. Amendment
to Section 24. Section 24 of the Original Agreement is hereby amended by deleting the term “Framework Agreement” therefrom and replacing such term with “Framework Agreements”. 
 4. Amendment to Schedule 1. Schedule 1 to the Original Agreement is hereby deleted and amended and restated to read in its entirety as
follows: 
 Stockholders 
 Stockholder Name and Address 
 MADRONE CAPITAL, LLC 
 3000 Sand Hill Road 
 Building 1, Suite 155 
 Menlo Park, CA 94027 
 Fax: 650-233-9352 
 Attn: Greg Penner 
 GS SUNRAY HOLDINGS, L.L.C. 
 c/o Goldman, Sachs & Co. 
 85 Broad Street, 10th Floor 
 New York, NY 10004 
 Fax: 212 357 5505 
 Attn: John
Bowman 
 c/o Goldman, Sachs & Co. 
 One New York Plaza,
38th Floor 
 New York, NY 10004 
 Fax: 212 493 9884 

Attn: Ben Adler, Esq. 
 GS SUNRAY HOLDINGS PARALLEL, L.L.C.

 c/o Goldman, Sachs & Co. 
 85 Broad Street, 10th
Floor 
 New York, NY 10004 
 Fax: 212 357 5505 
 Attn: John Bowman 
  

 2 

 c/o Goldman, Sachs & Co. 
 One New York Plaza, 38th Floor 
 New York, NY 10004 
 Fax: 212 493 9884 
 Attn: Ben Adler, Esq. 
 MORI
BUILDING CAPITAL INVESTMENT LLC 
 Roppongi Hills Mori Tower P.O. Box 1 
 10-1 Roppongi 6-chome 
 Minato-ku, Tokyo 106-6155 
 JAPAN 
 Facsimile No.: 81-3-6406-9316 
 Attention: Structured Finance Department 
 5. Agreement of Mori to be Bound. Mori agrees that, upon the full execution and
delivery of this Amendment, Mori shall (a) become a party to the Agreement, without further action on the part of any Person and (b) be bound by, and subject to, all of the covenants, terms and conditions of the Agreement. 
 6. No Other Amendments. Except as specifically amended hereby, the Original Agreement shall continue in full force and effect as written.

 7. Severability. If any provision of this Amendment (or any portion thereof) or the application of any such provision (or any
portion thereof) to any Person or circumstance shall be held invalid, illegal or unenforceable in any respect by a Governmental Authority, such invalidity, illegality or unenforceability shall not affect any other provision hereof (or the remaining
portion thereof) or the application of such provision to any other Persons or circumstances. Upon such determination that any provision of this Amendment (or any portion thereof) or tae application of any such provision (or any portion thereof) to
any Person or circumstance is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Amendment so as to effect the original intent f the parties hereto as closely as possible in an acceptable manner to the
end that the transactions contemplated hereby are fulfilled to the extent possible. 
 8. Further Agreement. The parties hereto shall
use their commercially reasonable efforts to do and perform or cause to be done and performed all such further acts and things and shall execute and deliver all such other agreements, certificates, instruments or documents as any other party may
reasonably request in order to carry out the intent and purposes of this Amendment and to consummate the transactions contemplated hereby and thereby. 
 9. Effect of Headings. The Section headings of this Amendment have been inserted for convenience of reference only and shall not be deemed a part of this Amendment. 
 10. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY AND INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT
REFERENCE TO ITS INTERNAL CONFLICTS OF LAWS PRINCIPLES. 
  

 3 

 11. Counterparts. This Amendment may be executed by any one or more of the parties hereto in any
number of counterparts, each of which shall be deemed to be an original, but all such respective counterparts shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by
facsimile or other electronic image scan shall be effective as delivery of a manually executed counterpart of this Agreement. 
 Signature
page follows. 
  

 4 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.

  

			
	THE COMPANY:
	
	GLOBAL HYATT CORPORATION
		
	By:	 	 /s/ Mark S. Hoplamazian

	Name:	 	Mark S. Hoplamazian
	Title:	 	President and Chief Executive Officer

  

 S-1 

			
	MADRONE CAPITAL, LLC
		
	By:	 	 /s/ Greg Penner

	Name:	 	Greg Penner
	Title:	 	Manager

  

 S-2 

			
	GS SUNRAY HOLDINGS, L.L.C.
		
	By:	 	 GS CAPITAL PARTNERS VI FUND, L.P.
 as a
member

		
	By:	 	 GSCP VI ADVISORS, L.L.C.,
 its general
partner

		
	By:	 	 /s/ Gerald J. Cardinale

	Name:	 	Gerald J. Cardinale
	Title:	 	Managing Director
	
	GS SUNRAY HOLDINGS, L.L.C.
		
	By:	 	 GS SUNRAY OFFSHORE FUND, L.P.
 as a
member

		
	By:	 	 GS CAPITAL PARTNERS VI OFFSHORE FUND, L.P.,
 its
general partner

		
	By:	 	 GSCP VI OFFSHORE ADVISORS, L.L.C.,
 its general
partner

		
	By:	 	 /s/ Gerald J. Cardinale

	Name:	 	Gerald J. Cardinale
	Title:	 	Managing Director
	
	GS SUNRAY HOLDINGS, L.L.C.
		
	By:	 	 GS SUNRAY GERMAN FUND, L.P.
 as a
member

		
	By:	 	 GS SUNRAY GERMAN FUND I, LTD.
 its general partner

		
	By:	 	 /s/ Gerald J. Cardinale

	Name:	 	Gerald J. Cardinale
	Title:	 	Managing Director

  

 S-3 

			
	GS SUNRAY HOLDINGS PARALLEL, L.L.C.
		
	By:	 	 GS CAPITAL PARTNERS VI PARALLEL, L.P.,
 as a member

		
	By:	 	 GSCP VI ADVISORS, L.L.C.,
 its general
partner

		
	By:	 	 /s/ Gerald J. Cardinale

	Name:	 	Gerald J. Cardinale
	Title:	 	Managing Director
	
	GS CAPITAL PARTNERS VI PARALLEL, L.P.
		
	By:	 	 GSCP VI ADVISORS, L.L.C.,
 its general
partner

		
	By:	 	 /s/ Gerald J. Cardinale

	Name:	 	Gerald J. Cardinale
	Title:	 	Managing Director

  

 S-4 

			
	MORI BUILDING CAPITAL INVESTMENT LLC
		
	By:	 	 /s/ Minoru Mori

	Name:	 	Minoru Mori
	Title:	 	Executor

  

 S-5 

 JOINDER AGREEMENT 
 This JOINDER AGREEMENT to Global Hyatt Corporation 2007 Stockholders’ Agreement (the “Joinder Agreement”) is made and entered into as of May 13, 2009, by and among Global Hyatt Corporation,
a Delaware corporation (the “Company”), and the undersigned (the “Joining Stockholders”), and relates to that certain Global Hyatt Corporation 2007 Stockholders’ Agreement, dated as of August 28, 2007 (as
amended from time to time, the “Stockholders’ Agreement”), by and among the Company and the parties set forth on Schedule 1 to the Stockholders’ Agreement (each, individually, a “Stockholder” and,
collectively, the “Stockholders”). Capitalized terms used and not defined herein shall have the meanings ascribed to such terms in the Stockholders’ Agreement. 
 WHEREAS, the Joining Stockholders are acquiring as transferees shares of Series A Convertible Preferred Stock, par value $0.01 per share, of the Company
and, in connection therewith, have agreed to become a party to the Stockholders’ Agreement on the terms set forth herein. 
 NOW,
THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Agreement to be Bound. Each Joining Stockholder agrees that, upon the execution of this Joinder Agreement, such Joining Stockholder shall
become a party to the Stockholders’ Agreement and shall be fully bound by, and subject to, all of the covenants, terms and conditions of the Stockholders’ Agreement and such Joining Stockholder shall be deemed a “Stockholder”
thereunder for all purposes. 
 2. Binding Effect. This Joinder Agreement shall be binding upon and shall inure to the benefit of, and
be enforceable by, the Company, the Stockholders and the Joining Stockholders and their respective heirs, personal representatives, successors and assigns. 
 3. Severability. If any provision of this Joinder Agreement (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance shall be held invalid,
illegal or unenforceable in any respect by a Governmental Authority, such invalidity, illegality or unenforceability shall not affect any other provision hereof (or the remaining portion thereof) or the application of such provision to any other
Persons or circumstances. Upon such determination that any provision of this Joinder Agreement (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance is invalid, illegal or
unenforceable, the parties hereto shall negotiate in good faith to modify this Joinder Agreement so as to effect the original intent of the parties hereto as closely as possible in an acceptable manner to the end that the transactions contemplated
hereby are fulfilled to the extent possible. 
 4. Further Agreement. The parties hereto shall use commercially reasonable efforts to
do and perform or cause to be done and performed all such further acts and things and shall execute and deliver all such other agreements, certificates, instruments or documents as any 

 
other party may reasonably request in order to carry out the intent and purposes of this Joinder Agreement and to consummate the transactions contemplated
hereby. 
 5. Effect of Headings. The Section headings of this Joinder Agreement have been inserted for convenience of reference only
and shall not be deemed a part of this Joinder Agreement. 
 6. Counterparts. This Joinder Agreement may be executed in one or more
counterparts, each of which shall be deemed to constitute an original, but all such respective counterparts shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Joinder Agreement by
facsimile or other electronic image scan shall be effective as delivery of a manually executed counterpart of this Agreement. 
 7.
Governing Law. THIS JOINDER AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS INTERNAL CONFLICTS OF LAWS PRINCIPLES. 
 Signature Page Follows 

 IN WITNESS WHEREOF, the parties hereto have executed this Joinder Agreement as of the date first above
written. 
  

			
	 COMPANY:
  
 GLOBAL HYATT CORPORATION

		
	By:	 	 /s/ Mark S. Hoplamazian

	Name:	 	Mark S. Hoplamazian
	Title:	 	President and Chief Executive Officer
	
	 JOINING STOCKHOLDERS:
  
 GS SUNRAY HOLDINGS SUBCO I, L.L.C.

		
	By:	 	 /s/ Josephine Mortelliti

	Name:	 	Josephine Mortelliti
	Title:	 	Manager
	
	GS SUNRAY HOLDINGS SUBCO II, L.L.C.
		
	By:	 	 /s/ Josephine Mortelliti

	Name:	 	Josephine Mortelliti
	Title:	 	Manager
	
	GS SUNRAY HOLDINGS PARALLEL SUBCO, L.L.C.
		
	By:	 	 /s/ Josephine Mortelliti

	Name:	 	Josephine Mortelliti
	Title:	 	Manager

 AMENDMENT NO. 2 AND WAIVER TO 
 GLOBAL HYATT CORPORATION 2007 STOCKHOLDERS’ AGREEMENT 
 This
AMENDMENT NO. 2 AND WAIVER TO GLOBAL HYATT CORPORATION 2007 STOCKHOLDERS’ AGREEMENT, dated as of May 14, 2009 (this “Amendment”), is made and entered into by and among Global Hyatt Corporation, a Delaware corporation
(the “Company”), and the parties set forth on Schedule 1 to the Global Hyatt Corporation 2007 Stockholders’ Agreement, dated as of August 28, 2007, as amended by Amendment No. 1 to Global Hyatt Corporation 2007
Stockholders’ Agreement, dated as of October 25, 2007 (as amended, the “Original Agreement”). 
 WITNESSETH:

 WHEREAS, pursuant to offer letters dated April 2, 2009 (the “Offer Letters”), the Company is offering rights to
subscribe for up to an aggregate of 52,467,050 shares of Common Stock to stockholders of record at 5:01 p.m., Central Daylight Time, on April 1, 2009 (other than stockholders who are former employees), all non-employee directors of the Company
who have received awards or who have accrued compensation that will be awarded under the Amended and Restated Global Hyatt Corporation Long-Term Incentive Plan (as amended), and certain other Persons with contractual preemptive rights to purchase
Common Stock (the “Rights Offering”); 
 WHEREAS, pursuant to an offer letter dated May 8, 2009, the Company is
offering to the Existing Stockholders rights to subscribe for up to an additional 6,313,204 shares of Common Stock (the “Pritzker Incremental Rights Offering”); 
 WHEREAS, in connection with the Rights Offering, the Company and the parties hereto desire to amend the Original Agreement in the manner set forth
herein; and 
 WHEREAS, pursuant to Section 25 of the Original Agreement, the Original Agreement may be amended by a written
instrument signed by the Company and each of the Stockholders (as defined in the Original Agreement). 
 NOW, THEREFORE, in consideration of
the foregoing and the mutual premises herein contained, it is hereby agreed that: 
 1. Definitions. Capitalized terms used but not
defined herein shall have the respective meanings given to such terms in the Original Agreement. 
 2. Amendments to Section 1 and
Modification of Other Terms. 
 (a) The definition of “Excluded Securities” contained in Section 1
of the Original Agreement is hereby deleted and amended and restated to read in its entirety as follows: 
 “Excluded
Securities” – any equity securities of the Company (which for this purpose shall include securities convertible into or exchangeable for equity securities of the Company, any equity or profit participation rights, or 

 
any rights, options, or warrants to purchase any of the foregoing issued by the Company subsequent to the date hereof) that consist of any of the following:
(i) issuances to employees, consultants and members of the Board (or similar governing bodies) of the Company or its Subsidiaries in connection with the performance of services in such capacities and made pursuant to any plan adopted by the
Board; (ii) issuance of shares of Common Stock upon conversion of shares of preferred stock, settlement of the Subscription Agreement, exercise of options and exercise of warrants; (iii) the issuance of Common Stock in a Public Offering;
(iv) issuance of securities to financial institutions, equipment lessors, brokers or similar persons in connection with commercial credit arrangements, equipment financings, commercial property lease transactions or similar transactions
approved by the Board; (v) issuance of equity securities or rights to purchase equity securities issued for non-cash consideration pursuant to a merger, consolidation, acquisition or similar business combination approved by the Board; and
(vi) issuance of securities to an entity as a component of any business relationship with such entity primarily for the purpose of (A) joint venture, technology, licensing or development activities, (B) distribution, supply or
manufacture of the Company’s products or services, or (C) any other arrangements involving corporate partners primarily for purposes other than raising capital, the terms of which business relationship with such entity are approved by the
Board. 
 (b) The following definitions are inserted after the definition of “Restriction Expiration Date” and
before the definition of “Section 4(b) Offer Notice”: 
 “Rights Offering” – the offer made by
the Company pursuant to the offer letters dated April 2, 2009 to stockholders of record at 5:01 p.m., Central Daylight Time, on April 1, 2009 (other than stockholders who are former employees), all non-employee directors of the Company who
have received awards or who have accrued compensation that will be awarded under the Amended and Restated Global Hyatt Corporation Long-Term Incentive Plan, as amended, and certain other Persons with contractual preemptive rights to subscribe for
shares of Common Stock. 
 “Rights Offering Shares” – shares of Common Stock purchased by a Stockholder
in the Rights Offering. 
 (c) For purposes of this Amendment and the Original Agreement, as amended by this Amendment, the
term “Agreement” shall refer to the Original Agreement as amended hereby and from time to time. 
 3. Amendment to Schedule
1. Schedule 1 to the Original Agreement is hereby deleted and amended and restated to read in its entirety as set forth on Exhibit A attached hereto. 
 4. Amendment to Section 3(a). Section 3(a) of the Original Agreement is hereby deleted and amended and restated to read in its entirety as follows: 
  

	 	(a)	 A Stockholder may Transfer all or a portion of such Stockholder’s Restricted Stock (i) to the Company, (ii) to an Affiliate of such Stockholder
subject to the 

  

 2 

	 	 
prior written consent of the Board, which consent will not be unreasonably withheld, (iii) as permitted by Sections 3(b), 3(c),
3(d), 4, 5 and 6, (iv) received by such Stockholder pursuant to Section 3.2 of the Subscription Agreement, (v) subject to Sections 4 and 5 hereof, following the Restriction Expiration
Date and (vi) to the extent such shares are Rights Offering Shares, but subject to Sections 4 and 5 hereof. 

 5. Amendment to Section 3(d). Section 3(d) of the Original Agreement is hereby deleted and amended and restated to read in its entirety as follows: 
  

	 	(d)	Subject to Sections 4 and 5 hereof, and notwithstanding Sections 3(b) and 3(c) above, following the first Qualified Public Offering, in the event that
any Initial Holder Transfers all or any portion of such Initial Holder’s Effective Date Common Shares (other than pursuant to a Permitted Transfer), a Stockholder may Transfer up to a Pro Rata Portion of such Stockholder’s Restricted Stock
(excluding for purposes of such calculation, the Rights Offering Shares); provided, however, that in any 365-day period in which such Stockholder is permitted to Transfer shares of Restricted Stock under Section 3(b) and in
any calendar year in which such Stockholder is permitted to Transfer shares of Restricted Stock under Section 3(c) (including class (ii) thereof), such Stockholder’s right to transfer a Pro Rata Portion of its Restricted Stock
under this Section 3(d) shall apply only to the extent that the aggregate number of Effective Date Common Shares held at the commencement of such 365-day period or calendar year and Transferred by Initial Holders in such 365-day period
or calendar year, as a percentage of the aggregate number of Effective Date Common Shares held by Initial Holders at the commencement of such 365-day period or calendar year, exceeds the maximum percentage of such Stockholder’s shares of
Restricted Stock (excluding for purposes of such calculation, the Rights Offering Shares) that such Stockholder is permitted to sell in such 365-day period or calendar year pursuant to Sections 3(b) and 3(c), with the result that only
such excess number of Effective Date Common Shares so Transferred by Initial Holders will be taken into account in determining such Stockholder’s Pro Rata Portion for purposes of this Section 3(d). The rights described in this
Section 3(d) shall expire on the Restriction Expiration Date. 

 6. Waiver of Pre-Emptive Rights. Each
Pre-Emptive Right Holder hereby irrevocably waives its rights pursuant to Section 7 of the Agreement in connection with the issuance of New Securities by the Company in the Rights Offering and the Pritzker Incremental Rights Offering and
acknowledges and agrees that such Pre-Emptive Right Holder shall have, in lieu thereof, the rights described in their applicable Offer Letter. 
 7. No Other Amendments. Except as specifically amended hereby, the Original Agreement shall continue in full force and effect as written. 
 8. Severability. If any provision of this Amendment (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance shall be held invalid, illegal or
unenforceable in any respect by a Governmental Authority, such invalidity, illegality or unenforceability shall not affect any other provision hereof (or the 

  

 3 

 
remaining portion thereof) or the application of such provision to any other Persons or circumstances. Upon such determination that any provision of this
Amendment (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Amendment so as
to effect the original intent of the parties hereto as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible. 
 9. Further Agreement. The parties hereto shall use their commercially reasonable efforts to do and perform or cause to be done and performed all
such further acts and things and shall execute and deliver all such other agreements, certificates, instruments or documents as any other party may reasonably request in order to carry out the intent and purposes of this Amendment and to consummate
the transactions contemplated hereby and thereby. 
 10. Effect of Headings. The Section headings of this Amendment have been inserted
for convenience of reference only and shall not be deemed a part of this Amendment. 
 11. Governing Law. THIS AMENDMENT SHALL BE
GOVERNED BY AND INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS INTERNAL CONFLICTS OF LAWS PRINCIPLES. 
 12. Counterparts. This Amendment may be executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such respective counterparts
shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other electronic image scan shall be effective as delivery of a manually executed counterpart of this
Agreement. 
 Signature page follows. 
  

 4 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.

  

			
	THE COMPANY:
	
	GLOBAL HYATT CORPORATION
		
	By:	 	 /s/ Mark S. Hoplamazian

		 	Mark S. Hoplamazian
		 	President and CEO

 [signature page to Amendment No. 2 to 2007 Stockholders’ Agreement] 

			
	MADRONE CAPITAL, LLC
		
	By:	 	 /s/ Greg Penner

	Name:	 	Greg Penner
	Title:	 	Manager
	
	MADRONE GHC, LLC
		
	By:	 	 /s/ Greg Penner

	Name:	 	Greg Penner
	Title:	 	Manager
	
	LAKE GHC, LLC
		
	By:	 	 /s/ Greg Penner

	Name:	 	Greg Penner
	Title:	 	Manager
	
	SHIMODA GHC, LLC
		
	By:	 	 /s/ Greg Penner

	Name:	 	Greg Penner
	Title:	 	Manager

 [signature page to Amendment No. 2 to 2007 Stockholders’ Agreement] 

			
	GS SUNRAY HOLDINGS, L.L.C.
		
	By:	 	 /s/ Josephine Mortelliti

	Name:	 	Josephine Mortelliti
	Title:	 	Manager
	
	GS SUNRAY HOLDINGS SUBCO I, L.L.C.
		
	By:	 	 /s/ Josephine Mortelliti

	Name:	 	Josephine Mortelliti
	Title:	 	Manager
	
	GS SUNRAY HOLDINGS SUBCO II, L.L.C.
		
	By:	 	 /s/ Josephine Mortelliti

	Name:	 	Josephine Mortelliti
	Title:	 	Manager
	
	GS SUNRAY HOLDINGS PARALLEL, L.L.C.
		
	By:	 	 /s/ Josephine Mortelliti

	Name:	 	Josephine Mortelliti
	Title:	 	Manager
	
	GS SUNRAY HOLDINGS PARALLEL SUBCO, L.L.C.
		
	By:	 	 /s/ Josephine Mortelliti

	Name:	 	Josephine Mortelliti
	Title:	 	Manager
	
	GS CAPITAL PARTNERS VI PARALLEL, L.P.
		
	By:	 	 GSCP VI ADVISORS, L.L.C.,
 its general
partner

		
	By:	 	 /s/ John Bowman

	Name:	 	John Bowman
	Title:	 	Managing Director

 [signature page to Amendment No. 2 to 2007 Stockholders’ Agreement] 

			
	MORI BUILDING CAPITAL INVESTMENT LLC
		
	By:	 	 /s/ Sadao Muraoka

	Name:	 	 Sadao Muraoka

	Title:	 	 Executor

 [signature page to Amendment No. 2 to 2007 Stockholders’ Agreement] 

 EXHIBIT A 
 SCHEDULE 1 
 Stockholders 
 Stockholder Name and Address 
  

			
	 MADRONE CAPITAL, LLC
 3000 Sand Hill
Road
 Building 1, Suite 155
 Menlo Park, CA 94027
 Fax: 650-233-9352
 Attn: Greg Penner
	  	 GS SUNRAY HOLDINGS, L.L.C.
 c/o Goldman, Sachs
& Co.
 85 Broad Street, 10th Floor
 New York, NY
10004
 Fax: 212 357 5505
 Attn: John Bowman
  
 c/o Goldman, Sachs & Co.
 One New York Plaza, 38th Floor
 New York, NY 10004
 Fax: 212 493 9884
 Attn: Ben Adler, Esq.

		
	 MADRONE GHC, LLC
 3000 Sand Hill Road

Building 1, Suite 155
 Menlo Park, CA 94027
 Fax: 650-233-9352
 Attn: Greg Penner
	  	 GS SUNRAY HOLDINGS SUBCO I, L.L.C.
 c/o
Goldman, Sachs & Co.
 85 Broad Street, 10th Floor
 New York,
NY 10004
 Fax: 212 357 5505
 Attn: John Bowman
  
 c/o Goldman, Sachs & Co.
 One New York Plaza, 38th Floor
 New York, NY 10004
 Fax: 212 493 9884
 Attn: Ben Adler, Esq.

		
	 LAKE GHC, LLC
 3000 Sand Hill Road
 Building 1, Suite 155
 Menlo Park, CA 94027
 Fax: 650-233-9352
 Attn: Greg Penner
	  	 GS SUNRAY HOLDINGS SUBCO II, L.L.C.
 c/o
Goldman, Sachs & Co.
 85 Broad Street, 10th Floor
 New York,
NY 10004
 Fax: 212 357 5505
 Attn: John Bowman
  
 c/o Goldman, Sachs & Co.
 One New York Plaza, 38th Floor
 New York, NY 10004
 Fax: 212 493 9884
 Attn: Ben Adler, Esq.

			
	 SHIMODA GHC, LLC
 3000 Sand Hill Road

Building 1, Suite 155
 Menlo Park, CA 94027
 Fax: 650-233-9352
 Attn: Greg Penner
	  	 GS SUNRAY HOLDINGS PARALLEL, L.L.C.
 c/o
Goldman, Sachs & Co.
 85 Broad Street, 10th Floor
 New York,
NY 10004
 Fax: 212 357 5505
 Attn: John Bowman
  
 c/o Goldman, Sachs & Co.
 One New York Plaza, 38th Floor
 New York, NY 10004
 Fax: 212 493 9884
 Attn: Ben Adler, Esq.

		
	 MORI BUILDING CAPITAL INVESTMENT LLC
 Roppongi
Hills Mori Tower P.O. Box 1
 10-1 Roppongi 6-chome
 Minato-ku,
Tokyo 106-6155
 JAPAN
 Facsimile No.: 81-3-6406-9316

Attention: Structured Finance Department
	  	 GS SUNRAY HOLDINGS PARALLEL SUBCO, L.L.C.
 c/o Goldman, Sachs & Co.
 85 Broad Street, 10th Floor
 New York, NY 10004
 Fax: 212 357 5505
 Attn: John Bowman

  
 c/o Goldman, Sachs & Co.
 One New York Plaza, 38th Floor
 New York, NY 10004
 Fax: 212 493 9884
 Attn: Ben Adler, Esq.

 JOINDER AGREEMENT 
 This JOINDER AGREEMENT to Global Hyatt Corporation 2007 Stockholders’ Agreement (this “Joinder Agreement”) is made and entered into as of May 13, 2009, by and among Global Hyatt Corporation,
a Delaware corporation (the “Company”), and the undersigned (each, individually, a “Joining Stockholder” and, collectively, the “Joining Stockholders”), and relates to that certain Global Hyatt
Corporation 2007 Stockholders’ Agreement, dated as of August 28, 2007 (as amended from time to time, the “Stockholders’ Agreement”), by and among the Company and the parties set forth on Schedule 1 to the
Stockholders’ Agreement (each, individually, a “Stockholder” and, collectively, the “Stockholders”). Capitalized terms used and not defined herein shall have the meanings ascribed to such terms in the
Stockholders’ Agreement. 
 WHEREAS, each Joining Stockholder is acquiring shares of common stock, par value $0.01 per share, of the
Company and, in connection therewith, have agreed to become a party to the Stockholders’ Agreement on the terms set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Agreement to be Bound. Each Joining Stockholder agrees that, upon the execution of this Joinder Agreement, such Joining Stockholder shall
become a party to the Stockholders’ Agreement and shall be fully bound by, and subject to, all of the covenants, terms and conditions of the Stockholders’ Agreement, and such Joining Stockholder shall be deemed a “Stockholder”
thereunder for all purposes. 
 2. Binding Effect. This Joinder Agreement shall be binding upon and shall inure to the benefit of, and
be enforceable by, the Company, the Stockholders and the Joining Stockholders and their respective heirs, personal representatives, successors and assigns. 
 3. Severability. If any provision of this Joinder Agreement (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance shall be held invalid,
illegal or unenforceable in any respect by a Governmental Authority, such invalidity, illegality or unenforceability shall not affect any other provision hereof (or the remaining portion thereof) or the application of such provision to any other
Persons or circumstances. Upon such determination that any provision of this Joinder Agreement (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance is invalid, illegal or
unenforceable, the parties hereto shall negotiate in good faith to modify this Joinder Agreement so as to effect the original intent of the parties hereto as closely as possible in an acceptable manner to the end that the transactions contemplated
hereby are fulfilled to the extent possible. 
 4. Further Agreement. The parties hereto shall use commercially reasonable efforts to
do and perform or cause to be done and performed all such further acts and things and shall execute and deliver all such other agreements, certificates, instruments or documents as any other party may reasonably request in order to carry out the
intent and purposes of this Joinder Agreement and to consummate the transactions contemplated hereby. 

 5. Effect of Headings. The section headings of this Joinder Agreement have been inserted for
convenience of reference only and shall not be deemed a part of this Joinder Agreement. 
 6. Counterparts. This Joinder Agreement may
be executed in one or more counterparts, each of which shall be deemed to constitute an original, but all such respective counterparts shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of
this Joinder Agreement by facsimile or other electronic image scan shall be effective as delivery of a manually executed counterpart of this Agreement. 
 7. Governing Law. THIS JOINDER AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS INTERNAL CONFLICTS OF LAWS PRINCIPLES.

 Signature Page Follows 

 IN WITNESS WHEREOF, the parties hereto have executed this Joinder Agreement as of the date first above
written. 
  

			
	COMPANY:
	
	GLOBAL HYATT CORPORATION
		
	By:	 	 /s/ Mark S. Hoplamazian

	Name:	 	Mark S. Hoplamazian
	Title:	 	President and Chief Executive Officer
	
	JOINING STOCKHOLDERS:
	
	MADRONE GHC, LLC
		
	By:	 	 /s/ Greg Penner

	Name:	 	Greg Penner
	Title:	 	Manager
	
	LAKE GHC, LLC
		
	By:	 	 /s/ Greg Penner

	Name:	 	Greg Penner
	Title:	 	Manager
	
	SHIMODA GHC, LLC
		
	By:	 	 /s/ Greg Penner

	Name:	 	Greg Penner
	Title:	 	Manager

 [Signature Page to Joinder to 2007 Stockholders Agreement]Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan

 Exhibit 10.2 
 AMENDED AND RESTATED 
 GLOBAL HYATT CORPORATION 
 LONG-TERM INCENTIVE PLAN 
 ARTICLE 1. 
 HISTORY AND PURPOSE 
 The Global Hyatt Corporation Long-Term Incentive Plan was originally adopted by Global Hyatt Corporation, a Delaware corporation (the “Company”) effective February 14, 2006 as a means of
assisting the Company in attracting and retaining qualified non-employee directors, executive and other key employees and to promote the success of the Company by providing certain non-employee directors, executives and other key employees of the
Company with a shared interest in increasing the value of the Company and sustaining its growth. The Global Hyatt Corporation Long-Term Incentive Plan as amended by the First Amendment thereto effective November 13, 2007 is referred to herein
as the “Original Plan”. The following is an amendment and restatement of the Original Plan in the form of this Amended and Restated Global Hyatt Corporation Long-Term Incentive Plan (the “Plan”), which is intended
to (i) expand the types of awards that may be granted under the terms of the Plan, (ii) expand the individuals to whom awards under the Plan may be granted, and (iii) to provide greater flexibility in the terms and conditions of
awards that may be granted under the Plan. 
 ARTICLE 2. 
 DEFINITIONS AND CONSTRUCTION 
 Wherever the following terms are used in the Plan they shall have the
meanings specified below, unless the context clearly indicates otherwise. The singular pronoun shall include the plural where the context so indicates. 
 2.1 “Administrator” shall mean the entity that conducts the general administration of the Plan as provided in Article 11. With reference to the duties of the Committee under the Plan which have been
delegated to one or more persons pursuant to Section 11.6, or which the Board has assumed, the term “Administrator” shall refer to such person(s) unless the Committee or the Board has revoked such delegation or the Board has
terminated the assumption of such duties. 
 2.2 “Award” shall mean an Option, a Restricted Stock award, a Restricted Stock
Unit award, a Performance Award, a Dividend Equivalent award, a Deferred Stock award, a Stock Payment award or a Stock Appreciation Right, which may be awarded or granted under the Plan (collectively, “Awards”). 
 2.3 “Award Agreement” shall mean any written notice, agreement, terms and conditions, contract or other instrument or document
evidencing an Award, including, without limitation, through electronic medium, which shall contain such terms and conditions with respect to an Award as the Administrator shall determine consistent with the Plan. 
 2.4 “Board” shall mean the Board of Directors of the Company. 

 2.5 “Change in Control” shall mean the date the Family Business Units or members of the
Pritzker Family cease to own, directly or indirectly, securities representing (a) at least twenty percent (20%) of the total voting power represented by securities of the Company (or its corporate parent) and (b) 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 Exchange Act. In addition, if a Change in
Control constitutes a payment event with respect to any Award which provides for the deferral of compensation and is subject to Section 409A of the Code, then such transaction or event triggering clause (a) or (b) of this
Section 2.5 with respect to such Award must also constitute a “change in control event,” as defined in Treasury Regulation §1.409A-3(i)(5) to the extent required by Section 409A. The Administrator may make such modifications
to the definition of “Change in Control” as it determines appropriate following an IPO or Rule 144 Offering or such other business condition as the Administrator deems necessary and appropriate. The Administrator shall have full and final
authority, which shall be exercised in its discretion, to determine conclusively whether a Change in Control of the Company has occurred and the date of the occurrence of such Change in Control and any incidental matters relating thereto.

 2.6 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 
 2.7 “Committee” shall mean the Compensation Committee of the Board, or another committee or subcommittee of the Board, appointed as
provided in Section 11.1. 
 2.8 “Common Stock” shall mean the common stock of the Company, par value $0.01 per share.

 2.9 “Company” shall mean Global Hyatt Corporation a Delaware corporation. 
 2.10 “Consultant” shall mean any consultant or adviser to the Company or of any Subsidiary that qualifies as a consultant under the
applicable rules of the Securities and Exchange Commission for registration of shares on a Form S-8 Registration Statement. 
 2.11
“Deferred Stock” shall mean a right to receive Common Stock awarded under Section 8.4. 
 2.12
“Director” shall mean a member of the Board, or as applicable, a member of the board of directors of a Subsidiary. 
 2.13
“Dividend Equivalent” shall mean a right to receive the equivalent value (in cash or Common Stock) of dividends paid on Common Stock, awarded under Section 8.2. 
 2.14 “DRO” shall mean a domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act of
1974, as amended from time to time, or the rules thereunder. 
 2.15 “Effective Date” shall mean the date this Plan is
approved by the Board, subject to approval of the Plan by the Company’s stockholders. 
  

 2 

 2.16 “Eligible Individual” shall mean any person who is an Employee, a Consultant or a
Non-Employee Director, as determined by the Committee. 
 2.17 “Employee” shall mean any officer or other employee (as
defined in accordance with Section 3401(c) of the Code) of the Company or of any Subsidiary. 
 2.18 “Equity
Restructuring” shall mean a nonreciprocal transaction between the Company and its stockholders, such as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large, nonrecurring cash dividend, that affects
the number or kind of shares of Common Stock (or other securities of the Company) or the share price of Common Stock (or other securities) and causes a change in the per share value of the Common Stock underlying outstanding Awards. 
 2.19 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. 
 2.20 “Family Business Unit” shall mean any business entity owned or controlled directly or indirectly by or for the benefit of members
of the Pritzker Family. 
 2.21 “Greater Than 10% Stockholder” shall mean an individual then owning (within the meaning of
Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or any Subsidiary or parent corporation thereof (as defined in Section 424(e) of the Code). 
 2.22 “Holder” shall mean a person who has been granted an Award. 
 2.23 Incentive Stock Option” shall mean an Option that is intended to qualify as an incentive stock option and conforms to the applicable
provisions of Section 422 of the Code. 
 2.24 “IPO” shall mean the initial sale of shares by the Company to the
general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission under the federal securities laws. 
 2.25 “Non-Employee Director” shall mean a Director who is not an Employee. 
 2.26
“Non-Qualified Stock Option” shall mean an Option that is not intended to be an Incentive Stock Option. 
 2.27
“Option” shall mean a right to purchase shares of Common Stock at a specified exercise price, granted under Article 5. An Option shall be either a Non-Qualified Stock Option or an Incentive Stock Option; provided,
however, that Options granted to Non-Employee Directors and Consultants shall be Non-Qualified Stock Options. 
 2.28
“Original Plan” shall mean the Global Hyatt Long-Term Incentive Plan as in effect prior to the Effective Date. 
  

 3 

 2.29 “Performance Award” shall mean a cash bonus award, stock bonus award, performance
award or incentive award that is paid in cash, Common Stock or a combination of both, awarded under Section 8.1. 
 2.30
“Plan” shall mean this Amended and Restated Global Hyatt Corporation Long-Term Incentive Plan, as it may be further amended or restated from time to time. 
 2.31 “Pritzker Family” shall mean all of the lineal descendants of Nicholas J. Pritzker (deceased) and all of their respective spouses
and former spouses and children. 
 2.32 “Restricted Stock” shall mean Common Stock awarded under Article 7 that is subject
to certain restrictions and may be subject to risk of forfeiture or repurchase. 
 2.33 “Restricted Stock Units” shall mean
the right to receive Common Stock awarded under Section 8.5. 
 2.34 “Rule 144 Offering” shall mean an offering of the
securities of the Company (or its corporate parent) to the public that satisfies the requirements of Rule 144 under the Securities Act or in a private placement of securities similar in form and content to an offering that would satisfy Rule 144.

 2.35 “Securities Act” shall mean the Securities Act of 1933, as amended. 
 2.36 “Share Value” shall mean, as of any given date, the fair market value of a share of Common Stock determined as follows: 

(a) If the Common Stock is listed on any established stock exchange (such as the New York Stock Exchange, the NASDAQ Global Market and the NASDAQ
Global Select Market) or national market system, the Share Value shall be the closing sales price for a share of Common Stock as quoted on such exchange or system for such date or, if there is no closing sales price for a share of Common Stock on
the date in question, the closing sales price for a share of Common Stock on the last preceding date for which such quotation exists, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(b) If the Common Stock is regularly quoted by a recognized securities dealer but closing sales prices are not reported, the Share Value shall be the
mean of the high bid and low asked prices for such date or, if there are no high bid and low asked prices for a share of Common Stock on such date, the high bid and low asked prices for a share of Common Stock on the last preceding date for which
such information exists, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or 
 (c) If
the Common Stock is neither listed on an established stock exchange or a national market system nor regularly quoted by a recognized securities dealer, the Share Value shall be the determined by the Administrator in its discretion based upon either:

 (i) an appraisal as of the most recent Valuation Date. Such appraisal is intended to reflect a reasonable valuation of the Company as
contemplated by Treasury Regulation §1.409A-1(b)(5)(iv)(B)(2)(i), or any successor thereto. As such, the appraisal shall be made by a qualified independent firm designated by the Administrator, which firm is of a national reputation and has
relevant 

  

 4 

 
experience in performing such valuations. The appraisal firm shall use valuation principles and methods substantially similar to those used in the appraisals
historically performed for the Company in 2007, including, but not limited to, those related to enterprise value and the absence of any discount for lack of marketability or minority interest, or of any premium for control; or 
 (ii) the price paid for each share of Common Stock in a transaction between a willing buyer and a willing seller, neither under compulsion to buy or
sell; provided, however, that transactions between the Company and any Family Business Unit or member of the Pritzker Family shall not be considered for this purpose. 
 2.37 “Stock Appreciation Right” means a right granted pursuant to Article 9 to receive a payment equal to the excess of the Share Value of a specified number of shares of Common Stock on the date the
Stock Appreciation Right is exercised over an exercise price set forth in the applicable Award Agreement. 
 2.38 “Stock
Payment” shall mean (a) a payment in the form of shares of Common Stock, or (b) an option or other right to purchase shares of Common Stock, as part of a bonus, deferred compensation or other arrangement, awarded under
Section 8.3. 
 2.39 “Subsidiary” means any entity (other than the Company), whether domestic or foreign, in an
unbroken chain of entities beginning with the Company if each of the entities other than the last entity in the unbroken chain beneficially owns, at the time of the determination, securities or interests representing more than fifty percent
(50%) of the total combined voting power of all classes of securities or interests in one of the other entities in such chain. 
 2.40
“Substitute Award” shall mean an Award granted under the Plan upon the assumption of, or in substitution for, outstanding equity awards previously granted by a company or other entity in connection with a corporate transaction, such
as a merger, combination, consolidation or acquisition of property or stock; provided, however, that in no event shall the term “Substitute Award” be construed to refer to an award made in connection with the cancellation and
repricing of an Option or Stock Appreciation Right. 
 2.41 “Termination of Service” shall mean, 
 (a) As to a Consultant, the time when the engagement of a Holder as a Consultant to the Company or a Subsidiary is terminated for any reason, with or
without cause, including, without limitation, by resignation, discharge, death or retirement, but excluding a termination where there is a simultaneous commencement of employment with the Company or any Subsidiary. 
 (b) As to a Non-Employee Director, the time when a Holder who is a Non-Employee Director ceases to be a Director for any reason, including, without
limitation, a termination by resignation, failure to be elected, death or retirement, but excluding: (i) a termination where there is simultaneous employment by the Company (or a Subsidiary) of such person and (ii) a termination which is
followed immediately by such Holder becoming a Consultant. 
  

 5 

 (c) As to an Employee, the time when the employee-employer relationship between a Holder and the Company
or any Subsidiary is terminated for any reason, including, without limitation, a termination by resignation, discharge, death, disability or retirement; but excluding: (i) a termination where there is an immediate reemployment or continuing
employment of a Holder by the Company or any Subsidiary, (ii) a termination which is followed immediately by such Holder becoming a Consultant, (iii) a termination where the former employee continues as a Non-Employee Director, and
(iv) at the discretion of the Administrator, a termination which results in a temporary severance of the employee-employer relationship. 
 (d) The Administrator, in its discretion, shall determine the effect of all matters and questions relating to Termination of Service, including, without limitation, the question of whether a Termination of Service resulted from a discharge
for cause. and all questions of whether particular leaves of absence constitute Termination of Service; provided, however, that, with respect to Incentive Stock Options, unless the Administrator otherwise provides in the terms of the
Award Agreement or otherwise, a leave of absence, change in status from an employee to an independent contractor or Non-Employee Director or other change in the employee-employer relationship shall constitute a Termination of Service if, and to the
extent that such leave of absence, change in status or other change interrupts employment for the purposes of Section 422(a)(2) of the Code and the then applicable regulations and revenue rulings under said Section. For purposes of the Plan, a
Holder’s employee-employer relationship or consultancy relations shall be deemed to be terminated in the event that the Subsidiary employing or contracting with such Holder ceases to remain a Subsidiary following any merger, sale of stock or
other corporate transaction or event (including, without limitation, a spin-off). 
 2.42 “Valuation Date” shall mean the
immediately preceding December 31 or a date after such December 31 as the Administrator shall declare to be a Valuation Date in order to update the Share Value to reflect events subsequent to such December 31 that may materially
affect the Share Value. 
 ARTICLE 3. 
 SHARES SUBJECT TO THE PLAN 
 3.1 Number of Shares. 
 (a) Subject to Section 12.2 and Section 3.1(b) the aggregate number of shares of Common Stock which may be issued or transferred pursuant to
Awards under the Plan is 13,750,000. 
 (b) To the extent that an Award terminates, expires, is settled in cash or lapses for any reason
without the delivery of shares to the Holder, then any shares of Common Stock subject to such Award shall again be available for the grant of an Award pursuant to the Plan. Any shares of Common Stock tendered or withheld to satisfy the grant or
exercise price or tax withholding obligation pursuant to any Award shall again be available for the grant of an Award pursuant to the Plan. Any shares of Common Stock repurchased by the Company at the same price paid by the Holder so that such
shares are returned to the Company will again be available for Awards. To the extent permitted by applicable law or any exchange rule, shares of Common Stock issued in assumption 

  

 6 

 
of, or in substitution for, any outstanding awards of any entity acquired in any form of combination by the Company or any Subsidiary shall not be counted
against shares of Common Stock available for grant pursuant to the Plan. The payment of Dividend Equivalents in cash in conjunction with any outstanding Awards shall not be counted against the shares available for issuance under the Plan.
Notwithstanding the provisions of this Section 3.1(b), no shares of Common Stock may again be optioned, granted or awarded if such action would cause an Incentive Stock Option to fail to qualify as an incentive stock option under
Section 422 of the Code. 
 3.2 Stock Distributed. Any Common Stock distributed pursuant to an Award may consist, in whole or in
part, of authorized and unissued Common Stock or treasury Common Stock. 
 ARTICLE 4. 
 GRANTING OF AWARDS 
 4.1
Participation. The Administrator may, from time to time, select from among all Eligible Individuals, those to whom an Award shall be granted and shall determine the nature and amount of each Award, consistent with the requirements of the
Plan; provided, however, that Awards may not be granted to any Eligible Individual who is eligible for future awards under the Global Hyatt Deferred Incentive Plan. Although, Awards may not be granted each year to Eligible Individuals, once an
Eligible Individual has been granted an Award they will be considered a Holder and a participant in this Plan until all Awards held by such Eligible Individual are exercised, paid out or otherwise terminated. 
 4.2 Award Agreement. Each Award shall be evidenced by an Award Agreement. Award Agreements evidencing Incentive Stock Options shall contain such
terms and conditions as may be necessary to meet the applicable provisions of Section 422 of the Code. 
 4.3 Limitations Applicable
to Section 16 Persons. Notwithstanding any other provision of the Plan, the Plan, and any Award granted or awarded to any individual who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations
set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including, without limitation, any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent
permitted by applicable law, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. 
 4.4 At-Will Employment. Nothing in the Plan or in any Award Agreement hereunder shall confer upon any Holder any right to continue in the employ
of, or as a Director or Consultant for, the Company or any Subsidiary, or shall interfere with or restrict in any way the rights of the Company and any Subsidiary, which rights are hereby expressly reserved, to discharge any Holder at any time for
any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Holder and the Company or any Subsidiary. 
  

 7 

 4.5 Foreign Holders. Notwithstanding any provision of the Plan to the contrary, in order to comply
with the laws in other countries in which the Company and its Subsidiaries operate or have Employees, Non-Employee Directors or Consultants, or in order to comply with the requirements of any foreign stock exchange, the Administrator, in its
discretion, shall have the power and authority to: (a) determine which Subsidiaries shall be covered by the Plan; (b) determine which Eligible Individuals outside the United States are eligible to participate in the Plan; (c) modify
the terms and conditions of any Award granted to Eligible Individuals outside the United States to comply with applicable foreign laws or listing requirements of any such foreign stock exchange; (d) establish subplans and modify exercise
procedures and other terms and procedures, to the extent such actions may be necessary or advisable (any such subplans and/or modifications shall be attached to the Plan as appendices); provided, however, that no such subplans and/or
modifications shall increase the share limitations contained in Section 3.1; and (e) take any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary local governmental regulatory
exemptions or approvals or listing requirements of any such foreign stock exchange. Notwithstanding the foregoing, the Administrator may not take any actions hereunder, and no Awards shall be granted, that would violate the Code, the Exchange Act,
the Securities Act or any other securities law or governing statute or any other applicable law. 
 ARTICLE 5. 
 GRANTING OF OPTIONS 
 5.1 Granting
of Options to Eligible Individuals. The Administrator is authorized to grant Options to Eligible Individuals from time to time, in its discretion, on such terms and conditions as it may determine consistent with the Plan. 
 5.2 Qualification of Incentive Stock Options. No Incentive Stock Option shall be granted to any person who is not an Employee. No person who
qualifies as a Greater Than 10% Stockholder may be granted an Incentive Stock Option unless such Incentive Stock Option conforms to the applicable provisions of Section 422 of the Code. Any Incentive Stock Option granted under the Plan may be
modified by the Administrator, with the consent of the Holder, to disqualify such Option from treatment as an “incentive stock option” under Section 422 of the Code. To the extent that the aggregate fair market value of stock with
respect to which “incentive stock options” (within the meaning of Section 422 of the Code, but without regard to Section 422(d) of the Code) are exercisable for the first time by a Holder during any calendar year under the Plan,
and all other plans of the Company and any Subsidiary or parent corporation thereof (as defined in Section 424(e) of the Code), exceeds $100,000, the Options shall be treated as Non-Qualified Stock Options to the extent required by
Section 422 of the Code. The rule set forth in the preceding sentence shall be applied by taking Options and other “incentive stock options” into account in the order in which they were granted and the fair market value of the Common
Stock shall be determined as of the time the respective Options were granted. 
 5.3 Option Exercise Price. The exercise price per
share of Common Stock subject to each Option shall be set by the Administrator, but shall not be less than 100% of the Share Value on the date the Option is granted (or, as to Incentive Stock Options, on the date the Option is modified, extended or
renewed for purposes of Section 424(h) of the Code). In addition, in the case of 

  

 8 

 
Incentive Stock Options granted to a Greater Than 10% Stockholder, such price shall not be less than 110% of the Share Value on the date the Option is
granted (or the date the Option is modified, extended or renewed for purposes of Section 424(h) of the Code). 
 5.4 Option Term.
The term of each Option shall be set by the Administrator in its discretion; provided, however, that the term shall not be more than ten (10) years from the date the Option is granted, or five (5) years from the date an
Incentive Stock Option is granted to a Greater Than 10% Stockholder. The Administrator shall determine the time period, including, without limitation, the time period following a Termination of Service, during which the Holder has the right to
exercise the vested Options, which time period may not extend beyond the term of the Option term. Except as limited by requirements of Section 409A or Section 422 of the Code and regulations and rulings thereunder, the Administrator may
extend the term of any outstanding Option, and may extend the time period during which vested Options may be exercised, in connection with any Termination of Service of the Holder, and may amend any other term or condition of such Option relating to
such a Termination of Service. 
 5.5 Option Vesting. 
 (a) The period during which the right to exercise, in whole or in part, an Option vests in the Holder shall be set by the Administrator and the Administrator may determine that an Option may not be exercised in whole
or in part for a specified period after it is granted. Such vesting may be based on service with the Company or any Subsidiary, or any other criteria selected by the Administrator. At any time after grant of an Option, the Administrator may, in its
discretion and subject to whatever terms and conditions it selects, accelerate the period during which an Option vests. 
 (b) No portion of
an Option which is unexercisable at Termination of Service shall thereafter become exercisable, except as may be otherwise provided by the Administrator either in the Award Agreement or by action of the Administrator following the grant of the
Option. 
 5.6 Substitute Awards. Notwithstanding the foregoing provisions of this Article 5 to the contrary, in the case of an Option
that is a Substitute Award, the price per share of the shares subject to such Option may be less than the Share Value per share on the date of grant, provided, that the excess of: (a) the aggregate Share Value (as of the date such
Substitute Award is granted) of the shares subject to the Substitute Award, over (b) the aggregate exercise price thereof does not exceed the excess of: (x) the aggregate fair market value (as of the time immediately preceding the
transaction giving rise to the Substitute Award, such fair market value to be determined by the Administrator) of the shares of the predecessor entity that were subject to the grant assumed or substituted for by the Company, over (y) the
aggregate exercise price of such shares. 
 5.7 Substitution of Stock Appreciation Rights. The Administrator may provide in the Award
Agreement evidencing the grant of an Option that the Administrator, in its discretion, shall have the right to substitute a Stock Appreciation Right for such Option at any time prior to or upon exercise of such Option; provided, that such
Stock Appreciation Right shall be exercisable with respect to the same number of shares of Stock for which such substituted Option would have been exercisable. 
  

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 ARTICLE 6. 
 EXERCISE OF OPTIONS 
 6.1 Partial Exercise. An exercisable Option may be exercised in whole or
in part. However, an Option shall not be exercisable with respect to fractional shares and the Administrator may require that, by the terms of the Option, a partial exercise be with respect to a minimum number of shares. 
 6.2 Manner of Exercise. All or a portion of an exercisable Option shall be deemed exercised upon delivery of all of the following to the Secretary
of the Company, or such other person or entity or in such manner as designated by the Administrator, or his, her or its office, as applicable: 
 (a) A written notice complying with the applicable rules established by the Administrator stating that the Option, or a portion thereof, is exercised. The notice shall be signed by the Holder or other person then entitled to exercise the
Option or such portion of the Option; 
 (b) Such representations and documents as the Administrator, in its discretion, deems necessary or
advisable to effect compliance with all applicable provisions of the Securities Act and any other federal, state or foreign securities laws or regulations. The Administrator may, in its discretion, also take whatever additional actions it deems
appropriate to effect such compliance including, without limitation, placing legends on share certificates and issuing stop-transfer notices to agents and registrars; 
 (c) In the event that the Option shall be exercised pursuant to Section 10.3 by any person or persons other than the Holder, appropriate proof of the right of such person or persons to exercise the Option; and

 (d) Full payment of the exercise price and applicable withholding taxes to the Company for the shares with respect to which the Option, or
portion thereof, is exercised, in a manner permitted by Sections 10.1 and 10.2. 
 6.3 Notification Regarding Disposition. The Holder
shall give the Company prompt notice of any disposition of shares of Common Stock acquired by exercise of an Incentive Stock Option which occurs within (a) two years from the date of granting (including, without limitation, the date the Option
is modified, extended or renewed for purposes of Section 424(h) of the Code) such Option to such Holder, or (b) one year after the transfer of such shares to such Holder. 
  

 10 

 ARTICLE 7. 
 AWARD OF RESTRICTED STOCK 
 7.1 Award of Restricted Stock. 
 (a) The Administrator is authorized to grant Restricted Stock to Eligible Individuals. The Administrator shall determine the terms and conditions,
including, without limitation, the restrictions applicable to each award of Restricted Stock, consistent with the Plan, and may impose such conditions on the issuance of such Restricted Stock as it deems appropriate. 
 (b) The Administrator shall establish the purchase price, if any, and form of payment for Restricted Stock; provided, however, that such
purchase price shall be no less than the par value of the Common Stock to be purchased, unless otherwise permitted by applicable state law. In all cases, legal consideration shall be required for each issuance of Restricted Stock. 
 7.2 Rights as Stockholders. Subject to Section 7.4, and further subject to the restrictions in the relevant Award Agreement, upon issuance of
Restricted Stock, the Holder shall have, unless otherwise provided by and in the discretion of the Administrator, all the rights of a stockholder with respect to said shares; provided, however, that, in the discretion of the
Administrator, any extraordinary distributions with respect to the Common Stock shall be subject to the restrictions set forth in Section 7.3. 
 7.3 Restrictions. All shares of Restricted Stock (including, without limitation, any shares received by Holders thereof with respect to shares of Restricted Stock as a result of stock dividends, stock splits or any other form of
recapitalization) shall, in the terms of each individual Award Agreement, be subject to such restrictions and vesting requirements as the Administrator shall provide. Such restrictions may include, without limitation, restrictions concerning voting
rights and transferability and such restrictions may lapse separately or in combination at such times and pursuant to such circumstances or based on such criteria as selected by the Administrator, including, without limitation, criteria based on the
Holder’s duration of employment, directorship or consultancy with the Company, Company performance, individual performance or other criteria selected by the Administrator. By action taken after the Restricted Stock is issued, the Administrator
may, on such terms and conditions as it may determine to be appropriate, accelerate the vesting of such Restricted Stock by removing any or all of the restrictions imposed by the terms of the Award Agreement. Restricted Stock may not be sold or
encumbered until all restrictions are terminated or expire. 
 7.4 Repurchase or Forfeiture of Restricted Stock. If no price was paid
by the Holder for the Restricted Stock, upon a Termination of Service the Holder’s rights in unvested Restricted Stock then subject to restrictions shall lapse, and such Restricted Stock shall be surrendered to the Company without
consideration. If a price was paid by the Holder for the Restricted Stock, upon a Termination of Service, the Company shall have the right to repurchase from the Holder the unvested Restricted Stock then subject to restrictions at a cash price per
share equal to the price paid by the Holder for such Restricted Stock or such other amount as may be 

  

 11 

 
specified in the Award Agreement The Administrator in its discretion may provide that in the event of certain events, including, without limitation, a Change
in Control, the Holder’s death, retirement or disability or any other specified Termination of Service or any other event, the Holder’s rights in unvested Restricted Stock shall not lapse, such Restricted Stock shall vest and, if
applicable, the Company shall not have a right of repurchase. 
 7.5 Evidence of Issuance of Restricted Stock. Restricted Stock
granted pursuant to the Plan may be evidenced in such manner as the Administrator shall determine, including electronically. Any certificates issued, or book entries evidencing shares of Restricted Stock must include an appropriate legend referring
to the terms, conditions, and restrictions applicable to such Restricted Stock, and the Company may, in its discretion, retain physical possession of any stock certificate until such time as all applicable restrictions lapse. 
 7.6 Section 83(b) Election. If a Holder makes an election under Section 83(b) of the Code to be taxed with respect to the Restricted
Stock as of the date of transfer of the Restricted Stock rather than as of the date or dates upon which the Holder would otherwise be taxable under Section 83(a) of the Code, the Holder shall be required to deliver a copy of such election to
the Company promptly after filing such election with the Internal Revenue Service. 
 ARTICLE 8. 
 AWARD OF PERFORMANCE AWARDS, DIVIDEND EQUIVALENTS, DEFERRED 
 STOCK, STOCK PAYMENTS, RESTRICTED STOCK UNITS 
 8.1 Performance Awards. 
 (a) The Administrator is authorized to grant Performance Awards to any Eligible Individual. The value of Performance Awards may be linked to any one or
more of the performance criteria as determined by the Administrator, in each case on a specified date or dates or over any period or periods determined by the Administrator. In making such determinations, the Administrator shall consider (among such
other factors as it deems relevant in light of the specific type of award) the contributions, responsibilities and other compensation of the particular Eligible Individual. Performance Awards may be paid in cash, shares of Common Stock, or both, as
determined by the Administrator. 
 (b) Without limiting Section 8.1(a), the Administrator may grant Performance Awards to any Eligible
Individual in the form of a cash bonus payable upon the attainment of objective performance goals which are established by the Administrator, in each case on a specified date or dates or over any period or periods determined by the Administrator.

  

 12 

 8.2 Dividend Equivalents. Dividend Equivalents may be granted by the Administrator based on
dividends declared on the Common Stock, to be credited as of dividend payment dates during the period between the date an Award is granted to a Holder and the date such Award vests, is exercised, is distributed or expires, as determined by the
Administrator. Such Dividend Equivalents shall be converted to cash or additional shares of Common Stock by such formula and at such time and subject to such limitations as may be determined by the Administrator. 
 8.3 Stock Payments. Stock Payments may be granted by the Administrator to Eligible Individuals. The number or value of shares of any Stock Payment
shall be determined by the Administrator and may be based upon any criteria selected by the Administrator, including, without limitation, service to the Company or any Subsidiary. Stock Payments may, but are not required to be made in lieu of base
salary, bonus, fees or other cash compensation otherwise payable to such Eligible Individual. 
 8.4 Deferred Stock. Deferred Stock
awards may be granted by the Administrator to Eligible Individuals. The number of shares of Deferred Stock shall be determined by the Administrator and may be based on such criteria, including, without limitation, service to the Company or any
Subsidiary, as the Administrator selects, in each case on a specified date or dates or over any period or periods determined by the Administrator. Common Stock underlying a Deferred Stock award will not be issued until the Deferred Stock award has
vested, pursuant to a vesting schedule or other conditions or criteria set by the Administrator. Unless otherwise provided by the Administrator, a Holder of Deferred Stock shall have no rights as a Company stockholder with respect to such Deferred
Stock until such time as the Award has vested and the Common Stock underlying the Award has been issued to the Holder. 
 8.5 Restricted
Stock Units. The Administrator is authorized to make grants of Restricted Stock Units to Eligible Individuals, on such terms and conditions as determined by the Administrator. The Administrator shall specify the date or dates on which the
Restricted Stock Units shall become fully vested and nonforfeitable, and may specify such conditions to vesting as it deems appropriate, including, without limitation, service to the Company or any Subsidiary, in each case on a specified date or
dates or over any period or periods, as the Administrator determines. The Administrator shall specify, or permit the Holder to elect, the conditions and dates upon which the shares of Common Stock underlying the Restricted Stock Units which shall be
issued, which dates shall not be earlier than the date as of which the Restricted Stock Units vest and become nonforfeitable and which conditions and dates shall be subject to compliance with Section 409A of the Code. On the distribution dates,
the Company shall issue to the Holder one unrestricted, fully transferable share of Common Stock for each vested and nonforfeitable Restricted Stock Unit. 
 8.6 Term. The term of a Performance Award, Dividend Equivalent award, Deferred Stock award, Stock Payment award and/or Restricted Stock Unit award shall be set by the Administrator in its discretion.

 8.7 Exercise or Purchase Price. The Administrator may establish the exercise or purchase price of a Performance Award, shares of
Deferred Stock, shares distributed as a Stock Payment award or shares distributed pursuant to a Restricted Stock Unit award; provided, however, that value of the consideration shall not be less than the par value of a share of Common
Stock, unless otherwise permitted by applicable state law. 
  

 13 

 8.8 Exercise upon Termination of Service. A Performance Award, Dividend Equivalent award, Deferred
Stock award, Stock Payment award and/or Restricted Stock Unit award is exercisable or distributable only while the Holder is an Employee, Director or Consultant, as applicable. The Administrator, however, in its discretion may provide that the
Performance Award, Dividend Equivalent award, Deferred Stock award, Stock Payment award and/or Restricted Stock Unit award may be exercised or distributed subsequent to a Termination of Service in certain events, including, without limitation, a
Change in Control, the Holder’s death, retirement or disability or any other specified Termination of Service. 
 ARTICLE 9.

 AWARD OF STOCK APPRECIATION RIGHTS 
 9.1 Granting of Stock Appreciation Rights to Eligible Individuals. 
 (a) The Administrator is
authorized to grant Stock Appreciation Rights to Eligible Individuals from time to time, in its discretion, on such terms and conditions as it may determine consistent with the Plan. 
 (b) A Stock Appreciation Right shall entitle the Holder (or other person entitled to exercise the Stock Appreciation Right pursuant to the Plan) to
exercise all or a specified portion of the Stock Appreciation Right (to the extent then exercisable pursuant to its terms) and to receive from the Company an amount determined by subtracting the exercise price per share of the Stock Appreciation
Right from the Share Value on the date of exercise of the Stock Appreciation Right and then multiplying the difference by the number of shares of Common Stock with respect to which the Stock Appreciation Right shall have been exercised, subject to
any limitations the Administrator may impose. 
 9.2 Exercise Price. The exercise per share of Common Stock subject to each Stock
Appreciation Right shall be set by the Administrator, but shall not be less than 100% of the Share Value on the date the Stock Appreciation Right is granted. 
 9.3 Stock Appreciation Right Vesting. 
 (a) The period during which the right to exercise, in whole
or in part, a Stock Appreciation Right vests in the Holder shall be set by the Administrator and the Administrator may determine that a Stock Appreciation Right may not be exercised in whole or in part for a specified period after it is granted.
Such vesting may be based on service with the Company or any Subsidiary, or any other criteria selected by the Administrator. At any time after grant of a Stock Appreciation Right, the Administrator may, in its discretion and subject to whatever
terms and conditions it selects, accelerate the period during which an Stock Appreciation Right vests. 
 (b) No portion of an Stock
Appreciation Right which is unexercisable at Termination of Service shall thereafter become exercisable, except as may be otherwise provided by the Administrator either in the Award Agreement or by action of the Administrator following the grant of
the Stock Appreciation Right. 
  

 14 

 9.4 Manner of Exercise. All or a portion of an exercisable Stock Appreciation Right shall be
deemed exercised upon delivery of all of the following to the Secretary of the Company, or such other person or entity or in such manner as designated by the Administrator, or his, her or its office, as applicable: 
 (a) A written notice complying with the applicable rules established by the Administrator stating that the Stock Appreciation Right, or a portion
thereof, is exercised. The notice shall be signed by the Holder or other person then entitled to exercise the Stock Appreciation Right or such portion of the Stock Appreciation Right; 
 (b) Such representations and documents as the Administrator, in its discretion, deems necessary or advisable to effect compliance with all applicable
provisions of the Securities Act and any other federal, state or foreign securities laws or regulations. The Administrator may, in its discretion, also take whatever additional actions it deems appropriate to effect such compliance; and 

(c) In the event that the Stock Appreciation Right shall be exercised pursuant to Section 10.3 by any person or persons other than the Holder,
appropriate proof of the right of such person or persons to exercise the Stock Appreciation Right. 
 9.5 Payment. Payment of the
amounts determined under Section 9.1(b) above shall be made in Common Stock (based on its Share Value as of the date the Stock Appreciation Right is exercised) unless due to the occurrence of unusual events, the Administrator shall determine
that such payment shall be made in cash. If shares of Common Stock are deliverable upon exercise of the Stock Appreciation Right, then any fractional shares shall be paid in cash.1 
 ARTICLE 10. 

 ADDITIONAL TERMS OF AWARDS 
 10.1 Payment. The Administrator shall determine the methods by which payments by any Holder with respect to any Awards granted under the Plan shall be made, including, without limitation: (a) cash or check, (b) shares of
Common Stock (including, without limitation, in the case of payment of the exercise price of an Award, shares of Common Stock issuable pursuant to the exercise of the Award) or shares of Stock held for such period of time as may be required by the
Administrator in order to avoid adverse accounting consequences, in each case, having a Share Value on the date of delivery equal to the aggregate payments required, (c) delivery of a notice that the Holder has placed a market sell order with a
broker with respect to shares of Stock then issuable upon exercise or vesting of an Award, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the aggregate payments
required, provided, that payment of such proceeds is then made to the Company upon settlement of such sale, or (d) other property acceptable to the Administrator. The Administrator shall also determine the methods by which shares of
Common Stock shall be delivered or deemed to be delivered to Holders. Notwithstanding 
  

	1
	Conformed to Section 6(d) of the Original Plan. 

  

 15 

 
any other provision of the Plan to the contrary, no Holder who is a Director or an “executive officer” of the Company within the meaning of
Section 13(k) of the Exchange Act shall be permitted to make payment with respect to any Awards granted under the Plan, or continue any extension of credit with respect to such payment with a loan from the Company or a loan arranged by the
Company in violation of Section 13(k) of the Exchange Act. 
 10.2 Tax Withholding. The Company or any Subsidiary shall have the
authority and the right to deduct or withhold, or require a Holder to remit to the Company, an amount sufficient to satisfy federal, state, local and foreign taxes (including, without limitation, the Holder’s FICA or employment tax obligation)
required by law to be withheld with respect to any taxable event concerning a Holder arising as a result of the Plan. The Administrator may in its discretion and in satisfaction of the foregoing requirement allow a Holder to elect to have the
Company withhold shares of Common Stock otherwise issuable under an Award (or allow the surrender of shares of Common Stock). The number of shares of Common Stock which may be so withheld or surrendered shall be limited to the number of shares which
have a Share Value on the date of withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes that are
applicable to such supplemental taxable income. The Administrator shall determine the fair market value of the Common Stock, consistent with applicable provisions of the Code, for tax withholding obligations due in connection with a broker-assisted
cashless Option or Stock Appreciation Right exercise involving the sale of shares to pay the Option exercise price or any tax withholding obligation. 
 10.3 Transferability of Awards. 
 (a) Except as otherwise provided in Section 10.3(b) or other
agreements entered into between the Company and any Holder: 
 (i) No Award under the Plan may be sold, pledged, assigned or transferred in
any manner other than by will or the laws of descent and distribution or, subject to the consent of the Administrator, pursuant to a DRO, unless and until such Award has been exercised, or the shares underlying such Award have been issued, and all
restrictions applicable to such shares have lapsed; 
 (ii) No Award or interest or right therein shall be liable for the debts, contracts
or engagements of the Holder or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, hypothecation, encumbrance, assignment or any other means whether such disposition be voluntary or
involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including, without limitation, bankruptcy), and any attempted disposition thereof shall be null and void and of no effect,
except to the extent that such disposition is permitted by the preceding sentence; and 
 (iii) During the lifetime of the Holder, only the
Holder may exercise an Award (or any portion thereof) granted to him under the Plan, unless it has been disposed of pursuant to a DRO; after the death of the Holder, any exercisable portion of an Award may, prior to the time when such portion
becomes unexercisable under the Plan or the applicable Award Agreement, be exercised by his personal representative or by any person empowered to do so under the deceased Holder’s will or under the then applicable laws of descent and
distribution. 
  

 16 

 (b) Notwithstanding Section 10.3(a), the Administrator, in its discretion, may determine to permit a
Holder to transfer an Award other than an Incentive Stock Option to any one or more Permitted Transferees (as defined below), subject to the following terms and conditions: (i) an Award transferred to a Permitted Transferee shall not be
assignable or transferable by the Permitted Transferee other than by will or the laws of descent and distribution; (ii) any Award which is transferred to a Permitted Transferee shall continue to be subject to all the terms and conditions of the
Award as applicable to the original Holder (other than the ability to further transfer the Award); and (iii) the Holder and the Permitted Transferee shall execute any and all documents requested by the Administrator, including, without
limitation, documents to (A) confirm the status of the transferee as a Permitted Transferee, (B) satisfy any requirements for an exemption for the transfer under applicable federal, state and foreign securities laws and (C) evidence
the transfer. For purposes of this Section 10.3(b), “Permitted Transferee” shall mean, with respect to a Holder, any “family member” of the Holder, as defined under the instructions to use of the Form S-8 Registration
Statement under the Securities Act, or any other transferee specifically approved by the Administrator after taking into account any state, federal, local or foreign tax and securities laws applicable to transferable Awards. 
 (c) Notwithstanding Section 10.3(a), a Holder may, in the manner determined by the Administrator, designate a beneficiary to exercise the rights of
the Holder and to receive any distribution with respect to any Award upon the Holder’s death. A beneficiary, legal guardian, legal representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions
of the Plan and any Award Agreement applicable to the Holder, except to the extent the Plan and Award Agreement otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Administrator. If the Holder is married and
resides in a community property state, a designation of a person other than the Holder’s spouse as his or her beneficiary with respect to more than 50% of the Holder’s interest in the Award shall not be effective without the prior written
consent of the Holder’s spouse. If no beneficiary has been designated or survives the Holder, payment shall be made to the person entitled thereto pursuant to the Holder’s will or the laws of descent and distribution. Subject to the
foregoing, a beneficiary designation may be changed or revoked by a Holder at any time provided the change or revocation is filed with the Administrator. 
 10.4 Conditions to Issuance of Shares. 
 (a) Notwithstanding anything herein to the contrary, the
Company shall not be required to issue or deliver any certificates or make any book entries evidencing shares of Common Stock pursuant to the exercise of any Award, unless and until the Board has determined, with advice of counsel, that the issuance
of such shares is in compliance with all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any exchange on which the shares of Common Stock are listed or traded, and the shares of Common Stock are
covered by an effective registration statement or applicable exemption from registration. In addition to the terms and conditions provided herein, the Board may require that a Holder make such reasonable covenants, agreements, and representations as
the Board, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. 
  

 17 

 (b) All Common Stock certificates delivered pursuant to the Plan and all shares issued pursuant to book
entry procedures are subject to any stop-transfer orders and other restrictions as the Administrator deems necessary or advisable to comply with federal, state, or foreign securities or other laws, rules and regulations and the rules of any national
securities exchange or automated quotation system on which the Common Stock is listed, quoted, or traded. The Administrator may place legends on any Common Stock certificate or book entry to reference restrictions applicable to the Common Stock.

 (c) The Administrator shall have the right to require any Holder to comply with any timing or other restrictions with respect to the
settlement, distribution or exercise of any Award, including, without limitation, a window-period limitation, as may be imposed in the discretion of the Administrator. 
 (d) The Administrator may impose a holding period and transfer conditions and/or restrictions on any shares of Common Stock received under an Award pursuant to the Plan as it may deem advisable, including, without
limitation, but not limited to requiring the Holder to enter into a stockholders or other agreement relating to such matters. 
 (e) No
fractional shares of Common Stock shall be issued and the Administrator shall determine, in its discretion, whether cash shall be given in lieu of fractional shares or whether such fractional shares shall be eliminated by rounding down. 

(f) Notwithstanding any other provision of the Plan, unless otherwise determined by the Administrator or required by any applicable law, rule or
regulation, the Company shall not deliver to any Holder certificates evidencing shares of Common Stock issued in connection with any Award and instead such shares of Common Stock shall be recorded in the books of the Company (or, as applicable, its
transfer agent or stock plan administrator). 
 10.5 Forfeiture Provisions. Pursuant to its general authority to determine the terms
and conditions applicable to Awards under the Plan, the Administrator shall have the right to provide, in the terms of Awards made under the Plan, or to require a Holder to agree by separate written instrument, that: (a)(i) any proceeds, gains or
other economic benefit actually or constructively received by the Holder upon any receipt or exercise of the Award, or upon the receipt or resale of any Common Stock underlying the Award, must be paid to the Company, and (ii) the Award shall
terminate and any unexercised portion of the Award (whether or not vested) shall be forfeited, if (b)(i) a Termination of Service occurs prior to a specified date, or within a specified time period following receipt or exercise of the Award, or
(ii) the Holder at any time, or during a specified time period, engages in any activity in competition with the Company, or which is inimical, contrary or harmful to the interests of the Company, as further defined by the Administrator, or
(iii) the Holder incurs a Termination of Service for “cause” (as such term is defined in the discretion of the Administrator, or as set forth in a written agreement relating to such Award between the Company and the Holder).

  

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 ARTICLE 11. 
 ADMINISTRATION 
 11.1 Administrator. The Committee (or another committee or a subcommittee of
the Board assuming the functions of the Committee under the Plan) shall administer the Plan (except as otherwise permitted herein) and shall consist solely of two or more Non-Employee Directors appointed by and holding office at the pleasure of the
Board, each of whom is intended to qualify as both a “non-employee director” as defined by Rule 16b-3 of the Exchange Act or any successor rule, an “outside director” for purposes of Section 162(m) of the Code and an
“independent director” under the rules of the New York Stock Exchange (or other principal securities market on which shares of Stock are traded); provided, that any action taken by the Committee shall be valid and effective, whether
or not members of the Committee at the time of such action are later determined not to have satisfied the requirements for membership set forth in this Section 11.l or otherwise provided in any charter of the Committee. Except as may otherwise
be provided in any charter of the Committee, appointment of Committee members shall be effective upon acceptance of appointment. Committee members may resign at any time by delivering written notice to the Board. Vacancies in the Committee may only
be filled by the Board. Notwithstanding the foregoing, (a) the full Board, acting by a majority of its members in office, shall conduct the general administration of the Plan with respect to Awards granted to Non-Employee Directors and
(b) the Board or Committee may delegate its authority hereunder to the extent permitted by Section 11.6. 
 11.2 Duties and
Powers of the Administrator. It shall be the duty of the Administrator to conduct the general administration of the Plan in accordance with its provisions. The Administrator shall have the power to interpret the Plan and the Award Agreement, and
to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith, to interpret, amend or revoke any such rules and to amend any Award Agreement provided that the rights or obligations of the holder
of the Award that is the subject of any such Award Agreement are not affected adversely. Any such grant or award under the Plan need not be the same with respect to each holder. Any such interpretations and rules with respect to Incentive Stock
Options shall be consistent with the provisions of Section 422 of the Code. In its discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Administrator under the Plan except with respect to
matters which under Rule 16b-3 under the Exchange Act or any successor rule, or Section 162(m) of the Code, or any regulations or rules issued thereunder, are required to be determined in the discretion of the Committee. 
 11.3 Action by the Committee. Unless otherwise established by the Board or in any charter of the Committee, as long as the Committee is the
Administrator, a majority of the Committee shall constitute a quorum and the acts of a majority of the members present at any meeting at which a quorum is present, and acts approved in writing by all members of the Committee in lieu of a meeting,
shall be deemed the acts of the Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Company or any Subsidiary, the
Company’s independent certified public accountants, or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. 
  

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 11.4 Authority of Administrator. Subject to any specific designation in the Plan, the
Administrator has the exclusive power, authority and discretion to: 
 (a) Select and designate Eligible Individuals to receive Awards;

 (b) Determine the type or types of Awards to be granted to each Holder; 
 (c) Determine the number of Awards to be granted and the number of shares of Stock to which an Award will relate; 
 (d) Determine the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price, grant price, or
purchase price, any reload provision, any restrictions or limitations on the Award, any schedule for vesting, lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, any provisions
related to non-competition, non-solicitation, confidentiality, and recapture of gain on an Award, based in each case on such considerations as the Administrator in its discretion determines; 
 (e) Determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may be paid in
cash, Stock, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered; 
 (f) Prescribe the form of each Award
Agreement, which need not be identical for each Holder; 
 (g) Decide all other matters that must be determined in connection with an Award;

 (h) Establish, adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan; 
 (i) Interpret the terms of, and any matter arising pursuant to, the Plan or any Award Agreement; and 
 (j) Make all other decisions and determinations that may be required pursuant to the Plan or as the Administrator deems necessary or advisable to
administer the Plan. 
 11.5 Decisions Binding. The Administrator’s interpretation of the Plan, any Awards granted pursuant to
the Plan, any Award Agreement and all decisions and determinations by the Administrator with respect to the Plan are final, binding, and conclusive on all parties. 
 11.6 Delegation of Authority. To the extent permitted by applicable law, the Board or Committee may from time to time delegate to a committee of one or more members of the Board or one or more officers of the
Company the authority to grant or amend Awards; provided, however, that in no event shall an officer be delegated the authority to grant awards to, or amend awards held by, the following individuals: (a) individuals who are subject to
Section 16 of the Exchange Act, or (b) officers of the Company (or 

  

 20 

 
Directors) to whom authority to grant or amend Awards has been delegated hereunder. Any delegation hereunder shall be subject to the restrictions and limits
that the Board or Committee specifies at the time of such delegation, and the Board may at any time rescind the authority so delegated or appoint a new delegatee. At all times, the delegatee appointed under this Section 11.6 shall serve in such
capacity at the pleasure of the Board and the Committee. 
 ARTICLE 12. 
 MISCELLANEOUS PROVISIONS 
 12.1 Amendment, Suspension or
Termination of the Plan. Except as otherwise provided in this Section 12.1, the Plan may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator. However, without
prior approval of the Company’s stockholders no amendment may, except as provided in Section 12.2, (i) increase the limits imposed in Section 3.1 on the maximum number of shares which may be issued under the Plan, or
(ii) decrease the exercise price of any outstanding Option or any Stock Appreciation Right granted under the Plan. Stockholder approval shall be by a vote of a majority of the votes cast at a meeting or a majority of the Company’s
stockholders if action is taken by written consent. Except as provided in Section 12.10, no amendment, suspension or termination of the Plan shall, without the consent of the Holder, impair any rights or obligations under any Award theretofore
granted or awarded, unless the Award itself otherwise expressly so provides. No Awards may be granted or awarded during any period of suspension or after termination of the Plan, and in no event may any Incentive Stock Options be granted under the
Plan after the tenth (10th) anniversary of the Effective Date. 
 12.2 Changes in Common Stock or Assets of the Company, Acquisition or Liquidation of the Company and Other Corporate Events. 
 (a) In the event of any stock dividend, stock split, combination or exchange of shares, merger, consolidation or other distribution (other than normal
cash dividends) of Company assets to stockholders, or any other change affecting the shares of the Company’s stock or the share price of the Company’s stock other than an Equity Restructuring, the Administrator shall make equitable
adjustments, if any, to reflect such change with respect to (i) the aggregate number and kind of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 3.1 on the maximum number
and kind of shares which may be issued under the Plan, adjustments of the Award Limit); (ii) the number and kind of shares of Common Stock (or other securities or property) subject to outstanding Awards; (iii) the terms and conditions of
any outstanding Awards (including, without limitation, any applicable performance targets or criteria with respect thereto); and (iv) the grant or exercise price per share for any outstanding Awards under the Plan. 
 (b) In the event of any transaction or event described in Section 12.2(a) or any unusual or nonrecurring transactions or events affecting the
Company, any affiliate of the Company, or the financial statements of the Company or any affiliate, or of changes in applicable laws, regulations or accounting principles, the Administrator, in its discretion, and on such terms and conditions as it
deems appropriate, either by the terms of the Award or by action taken prior to the occurrence of such transaction or event and either 

  

 21 

 
automatically or upon the Holder’s request, is hereby authorized to take any one or more of the following actions whenever the Administrator determines
that such action is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to any Award under the Plan, to facilitate such transactions or events or
to give effect to such changes in laws, regulations or principles: 
 (i) To provide for either (A) termination of any such Award in
exchange for an amount of cash, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Holder’s rights (and, for the avoidance of doubt, if as of the date of the occurrence of the
transaction or event described in this Section 12.2 the Administrator determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Holder’s rights, then such Award may be terminated
by the Company without payment) or (B) the replacement of such Award with other rights or property selected by the Administrator in its discretion having an aggregate value not exceeding the amount that could have been attained upon the
exercise of such Award or realization of the Holder’s rights had such Award been currently exercisable or payable or fully vested; 
 (ii) To provide that such Award be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for by similar options, rights or awards covering the stock of the successor or survivor
corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices; 
 (iii) To
make adjustments in the number and type of shares of the Company’s stock (or other securities or property) subject to outstanding Awards, and in the number and kind of outstanding Restricted Stock or Deferred Stock and/or in the terms and
conditions of (including, without limitation, the grant or exercise price), and the criteria included in, outstanding Awards which may be granted in the future; 
 (iv) To provide that such Award shall be exercisable or payable or fully vested with respect to all shares covered thereby, notwithstanding anything to the contrary in the Plan or the applicable Award Agreement; and

 (v) To provide that the Award cannot vest, be exercised or become payable after such event. 
 (c) In connection with the occurrence of any Equity Restructuring, and notwithstanding anything to the contrary in Sections 12.2(a) and 12.2(b):

 (i) The number and type of securities subject to each outstanding Award and the exercise price or grant price thereof, if applicable,
shall be equitably adjusted. The adjustments provided under this Section 12.2(c) shall be nondiscretionary and shall be final and binding on the affected Holder and the Company. 
 (ii) The Administrator shall make such equitable adjustments, if any, as the Administrator in its discretion may deem appropriate to reflect such Equity
Restructuring with respect to the aggregate number and kind of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 3.1 on the maximum number and kind of shares which may be issued
under the Plan). 
  

 22 

 (d) Notwithstanding any other provision of the Plan, in the event of a Change in Control, each
outstanding Award shall be assumed or an equivalent Award substituted by the successor corporation or a parent or subsidiary of the successor corporation. In the event an Award is assumed or an equivalent Award substituted, and a Holder has a
Termination of Service upon or within twelve (12) months following the Change in Control, then such Holder shall be fully vested in such assumed or substituted Award. 
 (e) In a Change in Control if the successor corporation refuses to assume or substitute for the Award, then the Administrator may cause any or all of
such Awards to become fully exercisable immediately prior to the consummation of such transaction and all forfeiture restrictions on any or all of such Awards to lapse. If an Award is exercisable in lieu of assumption or substitution in the event of
a Change in Control, the Administrator shall notify the Holder that the Award shall be fully exercisable for a period of fifteen (15) days from the date of such notice, contingent upon the occurrence of the Change in Control, and the Award
shall terminate upon the expiration of such period. 
 (f) For the purposes of this Section 12.2, an Award shall be considered assumed
if, following the Change in Control, the Award confers the right to purchase or receive, for each share of Common Stock subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities or
property) received in the Change in Control by holders of Common Stock for each share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority
of the outstanding shares); provided, however, that if such consideration received in the Change in Control was not solely common stock of the successor corporation or its parent, the Administrator may, with the consent of the
successor corporation, provide for the consideration to be received upon the exercise of the Award, for each share of Common Stock subject to an Award, to be solely common stock of the successor corporation or its parent equal in fair market value
to the per share consideration received by holders of Common Stock in the Change in Control. 
 (g) The Administrator may, in its discretion,
include such further provisions and limitations in any Award, agreement or certificate, as it may deem equitable and in the best interests of the Company that are not inconsistent with the provisions of the Plan. 
 (h) No adjustment or action described in this Section 12.2 or in any other provision of the Plan shall be authorized to the extent that such
adjustment or action would cause the Plan to violate Section 422(b)(1) of the Code. Furthermore, no such adjustment or action shall be authorized to the extent such adjustment or action would result in short-swing profits liability under
Section 16 or violate the exemptive conditions of Rule 16b-3 unless the Administrator determines that the Award is not to comply with such exemptive conditions. 
 (i) The existence of the Plan, the Award Agreement and the Awards granted hereunder shall not affect or restrict in any way the right or power of the Company or the stockholders of the Company to make or authorize any
adjustment, recapitalization, 

  

 23 

 
reorganization or other change in the Company’s capital structure or its business, any merger or consolidation of the Company, any issue of stock or of
options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the Common Stock or the rights thereof or which are convertible into or exchangeable for Common Stock,
or the dissolution or liquidation of the company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 
 (j) No action shall be taken under this Section 12.2 which shall cause an Award to fail to comply with Section 409A of the Code or the Treasury
Regulations thereunder, to the extent applicable to such Award. 
 (k) In the event of any pending stock dividend, stock split, combination
or exchange of shares, merger, consolidation or other distribution (other than normal cash dividends) of Company assets to stockholders, or any other change affecting the shares of Stock or the share price of the Stock including, without limitation,
any Equity Restructuring, for reasons of administrative convenience, the Company in its discretion may refuse to permit the exercise of any Award during a period of thirty (30) days prior to the consummation of any such transaction. 

12.3 Approval of Plan by Stockholders. The Plan will be submitted for the approval of the Company’s stockholders within twelve
(12) months after the date of the Board’s adoption of this Plan. 
 12.4 No Stockholders Rights. Except as otherwise
provided herein, a Holder shall have none of the rights of a stockholder with respect to shares of Common Stock covered by any Award until the Holder becomes the record owner of such shares of Common Stock. 
 12.5 Paperless Administration. In the event that the Company establishes, for itself or using the services of a third party, an automated system
for the documentation, granting or exercise of Awards, such as a system using an internet website or interactive voice response, then the paperless documentation, granting or exercise of Awards by a Holder may be permitted through the use of such an
automated system. 
 12.6 Effect of Plan upon Other Compensation Plans. The adoption of the Plan shall not affect any other
compensation or incentive plans in effect for the Company or any Subsidiary. Nothing in the Plan shall be construed to limit the right of the Company or any Subsidiary: (a) to establish any other forms of incentives or compensation for
Employees, Directors or Consultants of the Company or any Subsidiary, or (b) to grant or assume options or other rights or awards otherwise than under the Plan in connection with any proper corporate purpose including, without limitation, the
grant or assumption of options in connection with the acquisition by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, partnership, limited liability company, firm or association. 

12.7 Compliance with Laws. The Plan, the granting and vesting of Awards under the Plan and the issuance and delivery of shares of Common Stock
and the payment of money under the Plan or under Awards granted or awarded hereunder are subject to compliance with all applicable federal, state, local and foreign laws, rules and regulations (including, but not limited to state, federal 

  

 24 

 
and foreign securities law and margin requirements) and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of
counsel for the Company, be necessary or advisable in connection therewith. Any securities delivered under the Plan shall be subject to such restrictions, and the person acquiring such securities shall, if requested by the Company, provide such
assurances and representations to the Company as the Company may deem necessary or desirable to assure compliance with all applicable legal requirements. To the extent permitted by applicable law, the Plan and Awards granted or awarded hereunder
shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 
 12.8 Discretion. Whenever the
Administrator, Company, Committee or Board exercises its discretion under the Plan, such discretion shall be in its sole and absolute discretion. 
 12.9 Titles and Headings, References to Sections of the Code or Exchange Act. The titles and headings of the Sections in the Plan are for convenience of reference only and, in the event of any conflict, the text of the Plan, rather
than such titles or headings, shall control. References to sections of the Code or the Exchange Act shall include any amendment or successor thereto. 
 12.10 Governing Law. The Plan and any agreements hereunder shall be administered, interpreted and enforced under the internal laws of the State of Delaware without regard to conflicts of laws thereof.

 12.11 Section 409A. To the extent that the Administrator determines that any Award granted under the Plan is subject to
Section 409A of the Code, the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section 409A of the Code. To the extent applicable, the Plan and Award Agreements shall be interpreted in accordance
with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder, including, without limitation, any such regulations or other guidance that may be issued after the Effective Date.
Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date the Administrator determines that any Award may be subject to Section 409A of the Code and related Department of Treasury guidance
(including, without limitation, such Department of Treasury guidance as may be issued after the Effective Date), the Administrator may adopt such amendments to the Plan and the applicable Award Agreement or adopt other policies and procedures
(including, without limitation, amendments, policies and procedures with retroactive effect), or take any other actions, that the Administrator determines are necessary or appropriate to (a) exempt the Award from Section 409A of the Code
and/or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance and thereby avoid the application of
any penalty taxes under such Section. 
 12.12 No Rights to Awards. No Eligible Individual or other person shall have any claim to be
granted any Award pursuant to the Plan, and neither the Company nor the Administrator is obligated to treat Eligible Individuals, Holders or any other persons uniformly. 
  

 25 

 12.13 Unfunded Status of Awards. The Plan is intended to be an “unfunded” plan for
incentive compensation. With respect to any payments not yet made to a Holder pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Holder any rights that are greater than those of a general creditor of the
Company or any Subsidiary. 
 12.14 Indemnification. To the extent allowable pursuant to applicable law, the Administrator, each
member of the Committee, each member of the Board, each member of any committee appointed by the Board and any officer of the Company or any of its Subsidiaries to whom authority was delegated under or in connection with this Plan, shall be
indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection with or resulting from any claim, action, suit, or proceeding to which he or she may
be a party or in which he or she may be involved by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of judgment in such action, suit, or proceeding against him
or her; provided he or she gives the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be
exclusive of any other rights of indemnification to which such persons may be entitled pursuant to the Company’s Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them
or hold them harmless. 
 12.15 Relationship to other Benefits. No payment pursuant to the Plan shall be taken into account in
determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary except to the extent otherwise expressly provided in writing in such other plan or an
agreement thereunder. 
 12.16 Expenses. The expenses of administering the Plan shall be borne by the Company and its Subsidiaries.

 12.17 Arbitration. 
 (a) Except as otherwise specially provided in this Plan or an Award Agreement, any and all disputes, controversies or claims arising out of, relating to or in connection with this Plan, including, without limitation, any dispute regarding
its arbitrability, validity or termination, or the performance or breach thereof, shall be exclusively and finally settled by arbitration administered by the American Arbitration Association (“AAA”). Either party may initiate
arbitration by notice to the other party (a “Request for Arbitration”). The arbitration shall be conducted in accordance with the AAA rules governing commercial arbitration in effect at the time of the arbitration, except as they
may be modified by the provisions of this Agreement. The place of the arbitration shall be Chicago, Illinois. The arbitration shall be conducted by a single arbitrator appointed by the Holder from a list of at least five (5) individuals who are
independent and qualified to serve as an arbitrator submitted by the Company within fifteen (15) days after delivery of the Request for Arbitration. The Holder will make its appointment within ten (10) days after it receives the list of
qualified individuals from the Company. In the event the Company fails to send a list of at least five (5) qualified individuals to serve as arbitrator to the Holder within such fifteen-day time period, then the Holder shall appoint such
arbitrator within twenty-five (25) days from the Request for Arbitration. In the event the Holder fails to appoint a person to serve as arbitrator from the list of at least five 

  

 26 

 
(5) qualified individuals within ten (10) days after its receipt of such list from the Company, the Company shall appoint one of the individuals
from such list to serve as arbitrator within five (5) days after the expiration of such ten (10) day period. Any individual will be qualified to serve as an arbitrator if he or she shall be an individual who has no material business
relationship, directly or indirectly, with any of the parties to the action and who has at least ten (10) years of experience in the practice of law with experience in executive compensation matters. The arbitration shall commence within thirty
(30) days after the appointment of the arbitrator; the arbitration shall be completed within sixty (60) days of commencement; and the arbitrator’s award shall be made within thirty (30) days following such completion. The parties
may agree to extend the time limits specified in the foregoing sentence. 
 (b) The arbitrator will apply the substantive law (and the law of
remedies, if applicable) of the State of Delaware without giving effect to the principles of conflicts of law, and will be without power to apply any different substantive law. The arbitrator will render an award and a written opinion in support
thereof. Such award shall include the costs related to the arbitration and reasonable attorneys’ fees and expenses to the prevailing party. The arbitrator also has the authority to grant provisional remedies, including, without limitation,
injunctive relief, and to award specific performance. The arbitrator may entertain a motion to dismiss and/or a motion for summary judgment by any party, applying the standards governing such motions under the Federal Rules of Civil Procedure, and
may rule upon any claim or counterclaim, or any portion thereof (a “Claim”), without holding an evidentiary hearing, if, after affording the parties an opportunity to present written submission and documentary evidence, the
arbitrator concludes that there is no material issue of fact and that the Claim may be determined as a matter of law. The parties waive, to the fullest extent permitted by law, any rights to appeal, or to review of, any arbitrator’s award by
any court. The arbitrator’s award shall be final and binding, and judgment on the award may be entered in any court of competent jurisdiction, including, without limitation, the courts of Cook County, Illinois. The Company and each Holder under
this Plan irrevocably submits to the non-exclusive jurisdiction and venue in the courts of the State of Illinois and the United States sitting in Chicago, Illinois in connection with any such proceeding, and waives any objection based on forum non
conveniens. THE COMPANY AND EACH HOLDER IRREVOCABLY WAIVES SUCH PARTY’S RIGHT TO A TRIAL BY JURY IN CONNECTION WITH ANY ACTION TO ENFORCE AN ARBITRATOR’S DECISION OR AWARD PURSUANT TO SECTION 12.16(a) OF THIS PLAN. 
 (c) The parties agree to maintain confidentiality as to all aspects of the arbitration, except as may be required by applicable law, regulations or court
order, or to maintain or satisfy any suitability requirements for any license by any state, federal or other regulatory authority or body, including, without limitation, professional societies and organizations; provided, that nothing herein shall
prevent a party from disclosing information regarding the arbitration for purposes of enforcing the award. The parties further agree to obtain the arbitrator’s agreement to preserve the confidentiality of the arbitration. 
 * * * * * 
  

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 I hereby certify that the foregoing Plan was duly adopted by the Board of Directors of Global Hyatt Corporation on
March 11, 2008. 
 * * * * * 
 I
hereby certify that the foregoing Plan was approved by the stockholders of Global Hyatt Corporation as of May 12, 2008. 
 Executed
on this 12th day of May, 2008. 
  

	
	 /s/ Susan T. Smith

	Corporate Secretary

  

 28 

 AMENDMENT NO. 1 TO 
 AMENDED AND RESTATED GLOBAL HYATT CORPORATION 
 LONG-TERM INCENTIVE PLAN 
 ARTICLE 13. 
 HISTORY AND PURPOSE

 The Global Hyatt Corporation Long-Term Incentive Plan was originally adopted by Global Hyatt Corporation, a Delaware corporation (the
“Company”) effective February 14, 2006 as a means of assisting the Company in attracting and retaining qualified non-employee directors, executive and other key employees and to promote the success of the Company by providing
certain non-employee directors, executives and other key employees of the Company with a shared interest in increasing the value of the Company and sustaining its growth. 
 On February 26, 2008 and March 11, 2008, the Compensation Committee of the Board of Directors of the Company and the Board of Directors of the Company, respectively, adopted the Amended and Restated Global
Hyatt Corporation Long-Term Incentive Plan (the “New Plan”), and effective as of May 12, 2008 the stockholders of the Corporation ratified and approved the New Plan in all respects. 
 The following is an amendment (the “Amendment”) of the New Plan (such New Plan, as amended, the “Plan”) which is
intended to replace the term “Holder” throughout the Plan with the term “Participant”, and make certain modifications required by such replacement. Capitalized terms used but not defined herein shall have the respective meanings
given to such terms in the Plan. 
 ARTICLE 14. 
 AMENDMENT 
 14.1 Amendment and Replacement of the term “Holder”. The New Plan is
hereby amended by deleting all references to the term “Holder” therefrom and replacing such term with the term “Participant”. 
 14.2 Amendment to Section 7.3. The first sentence of Section 7.3 of the New Plan is hereby amended by deleting the word “thereof”. 
 14.3 Amendment to Section 8.4. The last sentence of Section 8.4 of the New Plan is hereby amended by replacing the word “of”
with the word “holding”. 
 14.4 No Other Amendments. Except as specifically amended hereby, the New Plan shall continue in
full force and effect as written. 
 14.5 Governing Law. This Amendment and the Plan and any agreements hereunder shall be
administered, interpreted and enforced under the internal laws of the State of Delaware without regard to conflicts of laws thereof. 
 * * *
* * 

 I hereby certify that the foregoing Amendment was duly adopted by the Compensation Committee of the Board of Directors of
Global Hyatt Corporation on September 10, 2008. 
 Executed on this 10th day of September, 2008. 
  

	
	 /s/ Susan T. Smith

	Corporate Secretary

  

 2 

 AMENDMENT NO. 2 TO 
 AMENDED AND RESTATED GLOBAL HYATT CORPORATION 
 LONG-TERM INCENTIVE PLAN 
 ARTICLE 15. 
 HISTORY 

The Global Hyatt Corporation Long-Term Incentive Plan was originally adopted by Global Hyatt Corporation, a Delaware corporation (the
“Company”) effective February 14, 2006. 
 On February 26, 2008 and March 11, 2008, the Compensation
Committee of the Board of Directors of the Company (the “Committee”) and the Board of Directors of the Company (the “Board”), respectively, adopted the Amended and Restated Global Hyatt Corporation Long-Term
Incentive Plan (the “New Plan”), and effective as of May 12, 2008 the stockholders of the Company ratified and approved the New Plan in all respects. 
 On September 10, 2008, the Committee, in its capacity as Administrator under the New Plan, adopted Amendment No. 1 to the New Plan. 

The following is the second amendment (“Amendment No. 2”) of the New Plan (such New Plan, as amended by Amendment No. 1 and
Amendment No. 2, the “Plan”) which is intended to revise Sections 4.1 and 11.1 of the Plan. 
 The Board has designated
the Committee to serve as Administrator (the “Administrator”) of the Plan and, pursuant to Section 12.1 of the Plan, the Administrator has the authority to amend the Plan without the consent of the Company’s stockholders.
Capitalized terms used but not defined herein shall have the respective meanings given to such terms in the Plan. 
 ARTICLE 16.

 AMENDMENT 
 16.1
Amendment to Section 4.1. The first sentence of Section 4.1 of the New Plan is hereby amended by deleting the phrase “provided, however, that Awards may not be granted to any Eligible Individual who is eligible for
future awards under the Global Hyatt Deferred Incentive Plan.” 
 16.2 Amendment and Replacement to Section 11.1. The first
sentence of Section 11.1 of the New Plan is hereby deleted and replaced in its entirety with the following sentences: 
 “The Committee (or another committee or a subcommittee of the Board assuming the functions of the Committee under the Plan) shall administer the Plan (except as otherwise permitted herein) and shall consist solely of two or more
Non-Employee Directors appointed by and holding office at the pleasure of the Board. On and after an IPO, it shall be intended that each member of the Committee shall qualify as both a “non-employee director” as defined by Rule 16b-3 of
the Exchange Act or any successor rule, an “outside director” for purposes of Section 162(m) of the Code and an “independent director” under the rules 

 
of the New York Stock Exchange (or other principal securities market on which shares of Stock are traded); provided, that any action taken by the
Committee shall be valid and effective, whether or not members of the Committee at the time of such action are later determined not to have satisfied the requirements for membership set forth in this Section 11.1 or otherwise provided in any
charter of the Committee.” 
 16.3 No Other Amendments. Except as specifically amended by Amendment No. 1 or hereby, the New
Plan shall continue in full force and effect as written. 
 16.4 Governing Law. This Amendment No. 2 and the Plan and any
agreements hereunder shall be administered, interpreted and enforced under the internal laws of the State of Delaware without regard to conflicts of laws thereof. 
 * * * * * 
 I hereby certify that the foregoing Amendment No. 2 was duly adopted by the Compensation Committee
of the Board of Directors of Global Hyatt Corporation on May 12, 2009. 
 Executed on this 9th day of June, 2009. 
  

	
	 /s/ Susan T. Smith

	Corporate Secretary

  

 2 

 AMENDMENT NO. 3 TO 
 AMENDED AND RESTATED GLOBAL HYATT CORPORATION 
 LONG-TERM INCENTIVE PLAN 
 ARTICLE 1. 
 HISTORY 

The Global Hyatt Corporation Long-Term Incentive Plan was originally adopted by Hyatt Hotels Corporation, a Delaware corporation (the
“Company”), effective February 14, 2006. 
 On February 26, 2008 and March 11, 2008, the Compensation
Committee of the Board of Directors of the Company (the “Committee”) and the Board of Directors of the Company (the “Board”), respectively, adopted the Amended and Restated Global Hyatt Corporation Long-Term
Incentive Plan (the “New Plan”), and effective as of May 12, 2008 the stockholders of the Company ratified and approved the New Plan in all respects. 
 On September 10, 2008 and May 12, 2009, the Committee, in its capacity as Administrator under the New Plan, adopted Amendment No. 1 and
Amendment No. 2, respectively, to the New Plan. 
 The Company changed its name from “Global Hyatt Corporation” to “Hyatt
Hotels Corporation” on June 30, 2009. 
 The following is the third amendment (“Amendment No. 3”) of the New
Plan (such New Plan, as amended by Amendment No. 1, Amendment No. 2 and Amendment No. 3, the “Plan”) which is intended to (i) reflect the name change of the Company, (ii) amend the definition of Change in
Control (and certain related defined terms), (iii) increase the limit on the aggregate number of shares of the Company’s common stock, par value $0.01 per share (“Common Stock”), which may be issued or transferred pursuant
to Awards (as such term is defined in the Plan) under the Plan by 5,000,000, so that a total of 18,750,000 shares of Common Stock may be issued or transferred pursuant to Awards under the Plan, and (iv) subject to and effective upon the filing
of an amended and restated certificate of incorporation of the Company that provides for “dual class stock” (the “Restated Certificate”), amend the definition of “Common Stock” under the LTIP to mean Class A
Common Stock, par value $0.01 per share. 
 The Board has designated the Committee to serve as Administrator (the
“Administrator”) of the Plan and, pursuant to Section 12.1 of the Plan, the Administrator has the authority to amend the Plan; provided, however, no amendment may be effected without the consent of the
Company’s stockholders to increase the limits imposed in Section 3.1 of the Plan on the maximum number of shares which may be issued under the Plan. Capitalized terms used but not defined herein shall have the respective meanings given to
such terms in the Plan. 

 ARTICLE 2. 
 NAME CHANGE 
 2.1 Amendments to Reflect Name Change. The New Plan is hereby amended by
replacing the following references to “Global Hyatt Corporation” in the Plan with “Hyatt Hotels Corporation”: (i) the second reference in the first sentence of Article I, (ii) the last sentence of Article
I, (iii) Section 2.9 and (iv) Section 2.30. 
 The name of the Plan is also hereby amended and restated
as the “Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan”. 
 ARTICLE 3. 
 AMENDMENT 
 3.1 Amendment to
Section 2.5. Section 2.5 of the New Plan is hereby deleted and replaced in its entirety with the following: 
 “‘Change in Control’ means (a) prior to the consummation of a public offering in which the Company offers for sale shares of its common stock or other equity interests pursuant to an effective registration
statement on Form S-1 or otherwise under the Securities Act of 1933, as amended (an “IPO”), Pritzker Affiliates shall fail to own more than 50% of the combined voting power of all Voting Stock of the Company and (b) following
an IPO, any Person or two or more Persons acting in concert (other than (i) any Pritzker Affiliate or (ii) any Pritzker Affiliate along with any other stockholder which, together with its Affiliates, owns more than 5% of the combined
voting power or the Voting Stock as of June 30, 2009 (a “Non-Pritzker Affiliate Existing Shareholder”) so long as Pritzker Affiliates continue to own more Voting Stock than such Non-Pritzker Affiliate Existing Shareholder)
shall have acquired “beneficial ownership,” directly or indirectly, of, or shall have acquired by contract or otherwise, Voting Stock of the Company (or other securities convertible into such Voting Stock) representing 50% or more of the
combined voting power of all Voting Stock of the Company. As used herein, “beneficial ownership” shall have the meaning provided in Rule 13d-3 of the Exchange Act.” 
 3.2 Contingent Amendment to Section 2.8. Subject to and effective upon the filing of the Restated Certificate, of Section 2.8
shall automatically be deleted and replaced in its entirety with the following: 
 “‘Common Stock’ shall mean the
Class A Common Stock of the Company, par value $0.01 per share.” 
 3.3 Amendment to Section 2.24.
Section 2.24 of the New Plan is hereby deleted and replaced in its entirety with the following: 
 “‘IPO’
has the meaning ascribed to such term in Section 2.5.” 
  

 2 

 3.4 Amendment to Article 2. Article 2 of the New Plan is hereby amended by adding the
following definitions: 
 “2.1a ‘Affiliate’ means as to any Person any other Person directly or
indirectly controlling or controlled by or under direct or indirect common control with such specified Person. “Control” for these purposes shall mean the ability to influence, direct or otherwise significantly affect the major policies,
activities or action of any person or entity, and the terms “controlling,” “controlled by” and “under common control with” have correlative meanings.” 
 “2.29a ‘Person’ means an individual, a company, a partnership, a joint venture, a limited liability company or
limited liability partnership, an association, a trust, estate or other fiduciary, any other legal entity, and any governmental authority.” 
 “2.30a ‘Pritzker Affiliate’ means (i) all lineal descendants of Nicholas J. Pritzker, deceased, and all spouses and adopted children of such descendants; (ii) all trusts for the benefit
of any person described in clause (i) and trustees of such trusts; (iii) all legal representatives of any person or trust described in clauses (i) or (ii); and (iv) all partnerships, corporations, limited liability companies or
other entities controlling, controlled by or under common control with any person, trust or other entity described in clauses (i), (ii) or (iii). “Control” for these purposes shall mean the ability to influence, direct or otherwise
significantly affect the major policies, activities or action of any person or entity, and the terms “controlling,” “controlled by” and “under common control with” have correlative meanings.” 
 “2.42a ‘Voting Stock’ means, with respect to the Company, each class of securities the holders of which are
ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of the Company, even though the right so to vote has been suspended by the happening of such a contingency.”

 3.5 Amendment to Section 3.1. Subject to stockholder approval, Section 3.1 of the New Plan is hereby amended by
deleting the number “13,750,000” and replacing it with “18,750,000”. 
 3.6 No Other Amendments. Except as
specifically amended by Amendment No. 1, Amendment No. 2 or hereby, the New Plan shall continue in full force and effect as written. 
 3.7 Governing Law. This Amendment No. 3 and the Plan and any agreements hereunder shall be administered, interpreted and enforced under the internal laws of the State of Delaware without regard to conflicts of laws thereof.

 * * * * * 
  

 3 

 I hereby certify that the foregoing Amendment No. 3 was duly adopted by the Compensation Committee of the Board of
Directors of Hyatt Hotels Corporation on July 28, 2009. 
 * * * * * 
 I hereby certify that the foregoing Amendment No. 3 was approved by the stockholders of Hyatt Hotels Corporation on July 30, 2009. 
 Executed on this 30 day of July, 2009. 
  

	
	 /s/ Robert W. K. Webb

	Chief Human Resources Officer

  

 4

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