Document:

EX-10.3

 Exhibit 10.3 

STARWOOD HOTELS & RESORTS WORLDWIDE, INC. 

RESTRICTED STOCK AWARD AGREEMENT — CEO/EVP/SVP 

(GRANTED PURSUANT TO THE STARWOOD HOTELS & RESORTS WORLDWIDE, INC. 

2013 LONG-TERM INCENTIVE COMPENSATION PLAN) 

Pursuant to the provisions of the Starwood Hotels & Resorts Worldwide, Inc. 2013 Long-Term Incentive Compensation
Plan (the “Plan”), the Company has granted to the individual (the “Participant”) named in the award notification (the “Award Notification”), as of the date set forth in the Award Notification (the
“Grant Date”), a Restricted Stock Award for the number of shares of Restricted Stock set forth in the Award Notification (the “Award”), upon and subject to the restrictions, terms and conditions set forth in the
Plan and this agreement (the “Agreement”). References to employment with the Company shall include employment with a subsidiary or affiliate of the Company. Capitalized terms not defined herein shall have the meanings specified in
the Plan. 
 1. Award Subject to Acceptance. The Award shall be accepted by the Participant unless the Participant notifies the
Company in writing by the date specified in the Award Notification (which acceptance will satisfy the requirement for execution and delivery of this Agreement by the Participant for purposes of Section 7.2 of the Plan). If the Participant
chooses not to accept the Award, the Award will be immediately cancelled. 
 2. Rights as a Stockholder. 

(a) Voting. The Participant shall have the right to vote the Shares comprising the Award during the Restriction Period
(as defined in Section 4). 
 (b) Dividends and Other Distributions. If any dividends are paid or other
distributions are made on the Shares comprising the Award during the Restriction Period (as defined in Section 4), such dividends and other distributions shall be credited for the account of the Participant. The dividends and other
distributions credited for the account of the Participant with respect to a portion of the Award that becomes vested in accordance with Section 4 or Section 5 shall be paid to the Participant, without interest, at the time specified in
Section 6. The Participant will forfeit any dividends and other distributions credited for the account of the Participant with respect to any portion of the Award that does not vest under Section 4 or Section 5. 

3. Custody of Unvested Awards. The Shares comprising the Award shall be registered to, or held by, the Company or its nominee in
certificated or uncertificated form until the Award vests in accordance with Section 4 or Section 5. 
 4. Restriction Period
and Vesting. 
 (a) In General. The Award shall vest as set forth in the Award Notification, subject to the
special vesting rules specified in subsections (b), (c), and (d) below. The period of time from the Grant Date until the Award vests is referred to as the “Restriction Period.” If portions of the Award vest at different times,
the Restriction Period shall be determined separately for each such portion. 

 (b) Disability or Death. If the Participant terminates employment with the
Company by reason of Disability or death on or after the six-month anniversary of the Grant Date and before the Award has become fully vested, the Participant shall become vested in the portion of the Award that has not previously become vested on
the date of such termination of employment. The effective date of a Participant’s Disability shall be the date as of which the Participant is determined to have a Disability pursuant to the terms of the Plan. The Committee has the sole
discretion to determine whether the Participant has terminated employment with the Company by reason of Disability. If the Participant’s employment with the Company terminates by reason of Disability or death prior to the six-month anniversary
of the Grant Date, the Participant shall forfeit any unvested portion of the Award. 
 (c) Retirement. If the
Participant terminates employment with the Company by reason of Retirement (as defined below) on or after the six-month anniversary of the Grant Date and before the Award has become fully vested, the Participant will continue to vest in the Award
following Retirement in accordance with the vesting schedule set forth in the Award Notification, conditioned upon and subject to the Participant’s compliance with following restriction: the Participant will forfeit the portion of the Award
that is not vested if, prior to the date on which the Award becomes fully vested, the Participant accepts any employment, assignment, position or responsibility, or acquires any ownership interest (other than holding and making investments in common
equity securities of any corporation, limited partnership or other entity that has its common equity securities traded in a generally recognized market, provided such equity interest does not exceed 5% of the outstanding shares or equity interests
in such corporation, limited partnership or other entity) that involves the Participant’s participation in a hotel and leisure company engaged in the operation of owned hotels, management of hotels, franchising hotels, development and operation
of vacation ownership resorts or the marketing and selling of vacation ownership interests, in each such case (i) in a state within 500 miles of the Participant’s last (or immediately prior) worksite for the Company, (ii) in the
country in which the Participant worked for the Company, (iii) in such country and any other country in which the Company does any of the enumerated acts, or (iv) in any country of the world. A Participant shall be considered to have
terminated employment due to “Retirement” if the Participant is at least age 60 and has completed at least five years of continuous employment with the Company. 

(d) Double Trigger Change in Control. Subject to Section 5 below, if, subsequent to receiving a Replacement Award
in accordance with Article 16 of the Plan, the Participant’s employment with the Company or any of its subsidiaries (or their successors in the Change in Control) is terminated within a period of two years after a Change in Control either by
the Participant for Good Reason or by the Company, such subsidiary or such successor (as applicable) other than for Cause, then the Replacement Award will vest with respect to 100% of the unvested portion of the Replacement Award. The Committee
shall determine whether a Change in Control has occurred, and such determination shall be conclusive and binding upon the Company and the Participant. For purposes of this Section 4(d), the Participant’s employment shall be deemed to have
been terminated following a Change in Control by the Company, such subsidiary or such successor (as applicable) other than for Cause or by the Participant for Good Reason if (i) the Participant’s employment is terminated by the Company,
such subsidiary or such successor (as applicable) other than for Cause prior to a Change in Control (whether or not a Change in Control ever occurs) and such termination was at the request 

  
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or direction of a Person who has entered into an agreement with the Company the consummation of which would constitute a Change in Control (an “Acquiring Person”), (ii) the
Participant terminates his employment for Good Reason prior to a Change in Control (whether or not a Change in Control ever occurs) and the circumstance or event which constitutes Good Reason occurs at the request or direction of an Acquiring
Person, or (iii) the Participant’s employment is terminated by the Company, such subsidiary or such successor (as applicable) other than for Cause or by the Participant for Good Reason and such termination or the circumstance or event
which constitutes Good Reason is otherwise in connection with or in anticipation of a Change in Control (whether or not a Change in Control ever occurs). For purposes of any determination regarding the applicability of the immediately preceding
sentence, any position taken by the Participant shall be presumed to be correct unless the Company establishes to the Board by clear and convincing evidence that such position is not correct. 

(e) Other Termination of Employment. If the Participant’s employment terminates for any reason other than as
specified in subsections (b), (c) or (d) above, the Participant shall forfeit automatically the portion of the Award that is not vested on the date of the Participant’s termination of employment. 

(f) Definition of Cause. For purposes of subsection (d), “Cause” for termination by the Company of the
Participant’s employment shall mean (i) the willful and continued failure by the Participant to substantially perform the Participant’s duties with the Company after a written demand for substantial performance is delivered to the
Participant by the Board, which demand specifically identifies the manner in which the Board believes that the Participant has not substantially performed the Participant’s duties, and the Participant has not cured any such failure (which is
capable of being cured) in all material respects within ten (10) days of receiving such written demand, or (ii) the willful engaging by the Participant in conduct which is demonstrably and materially injurious to the Company or its
subsidiaries, monetarily or otherwise. For purposes of clauses (i) and (ii) of this definition, (x) no act, or failure to act, on the Participant’s part shall be deemed “willful” unless done, or omitted to be done, by
the Participant not in good faith and without reasonable belief that the Participant’s act, or failure to act, was in the best interest of the Company, and (y) in the event of a dispute concerning the application of this provision, no
claim by the Company that Cause exists shall be given effect unless the Company establishes to the Board by clear and convincing evidence that Cause exists. 

(g) Definition of Good Reason. For purposes of subsection (d), “Good Reason” for termination by the
Participant of the Participant’s employment shall mean the occurrence (without the Participant’s express written consent) after any Change in Control, or prior to a Change in Control under the circumstances described in clauses
(ii) and (iii) of the third sentence of subsection (d) (treating all references in subparagraphs (i) through (vi) below to a “Change in Control” as references to a “Potential Change in Control”), of any
one of the following acts by the Company, or failures by the Company to act, unless, in the case of any act or failure to act described in subparagraph (i), (v), (vi) or (vii) below, such act or failure to act is corrected prior to the
date of the Participant’s termination of employment: 
 (i) the assignment to the Participant of any
duties inconsistent with the Participant’s status as a senior officer of the Company or a substantial adverse alteration in the nature or status of the Participant’s responsibilities from those in effect immediately prior to the Change in
Control; 

  
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 (ii) a reduction by the Company in the Participant’s annual
base salary as in effect on the date hereof or as the same may be increased from time to time; 
 (iii) the
relocation of the Participant’s principal place of employment to a location more than 35 miles from the Participant’s principal place of employment immediately prior to the Change in Control or the Company’s requiring the Participant
to be based anywhere other than such principal place of employment (or permitted relocation thereof) except for required travel on the Company’s business to an extent substantially consistent with the Participant’s present business travel
obligations; 
 (iv) the failure by the Company to pay to the Participant any portion of the
Participant’s current compensation, or to pay to the Participant any portion of an installment of deferred compensation under any deferred compensation program of the Company, within seven (7) days of the date such compensation is due;

 (v) either (A) the failure by the Company to continue in effect any compensation plan in which the
Participant participates immediately prior to the Change in Control which is material to the Participant’s total compensation, including but not limited to the Company’s stock option, bonus and other plans or any substitute plans adopted
prior to the Change in Control, unless an equitable arrangement (embodied in an ongoing substitute or alternative plan) has been made with respect to such plan, or (B) the failure by the Company to continue the Participant’s participation
therein (or in such substitute or alternative plan) on a basis not materially less favorable, both in terms of the amount or timing of payment of benefits provided and the level of the Participant’s participation relative to other participants,
as existed immediately prior to the Change in Control; 
 (vi) the Company’s (A) failure to
continue to provide the Participant with benefits substantially similar to those enjoyed by the Participant under any of the Company’s pension, savings, life insurance, medical, health and accident, or disability plans in which the Participant
was participating immediately prior to the Change in Control, (B) taking of any other action which would directly or indirectly materially reduce any of such benefits or deprive the Participant of any material fringe benefit enjoyed by the
Participant at the time of the Change in Control, or (C) failure to provide the Participant with the number of paid vacation days to which the Participant is entitled on the basis of years of service with the Company in accordance with the
Company’s normal vacation policy or any employment agreement in effect at the time of the Change in Control; 

(vii) any purported termination of the Participant’s employment (other than by reason of death) which is
not communicated by a written notice from the Company to the Participant that (A) indicates the specific termination provision in this Agreement relied upon and sets forth in reasonable detail the facts and circumstances claimed to provide a
basis for termination of the Participant’s employment under the provisions indicated and, for a termination for Cause, that includes a copy of a resolution duly adopted by the affirmative vote of not less than three-quarters (3/4) of the
entire membership of the Board at a meeting of the Board which was called and held for the purpose of considering 

  
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such termination (after reasonable notice to the Participant and an opportunity for the Participant, together with the Participant’s counsel, to be heard before the Board) finding that, in
the good faith opinion of the Board, the Participant was guilty of conduct set forth in clause (i) or (ii) of the definition of Cause herein, and specifying the particulars thereof in detail, and (B) that is mailed by United States
registered mail, return receipt requested, postage prepaid, addressed to the Participant at the most recent address furnished in writing by the Participant to the Company or is delivered to such address; or 

(viii) failure of the surviving entity in the Change in Control, on or prior to the effective date of the
Change in Control, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform the Agreement it if the Change in Control had not taken place. 

The Participant’s right to terminate employment for Good Reason shall not be affected by the Participant’s incapacity due to
physical or mental illness. The Participant’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any act or failure to act constituting Good Reason hereunder. 

For purposes of any determination regarding the existence of Good Reason, any claim by the Participant that Good Reason exists shall be
presumed to be correct unless the Company establishes to the Board by clear and convincing evidence that Good Reason does not exist. 

(h) Definition of Potential Change in Control. For purposes of subsection (g), a “Potential Change in
Control” shall be deemed to have occurred if the event set forth in any one of the following subparagraphs shall have occurred: 

(i) the Company enters into an agreement, the consummation of which would result in the occurrence of a Change
in Control; 
 (ii) the Company or any Person publicly announces an intention to take or to consider taking
actions which, if consummated, would constitute a Change in Control; 
 (iii) any Person becomes the
beneficial owner, directly or indirectly, of securities of the Company representing 15% or more of either the then outstanding shares of common stock of the Company or the combined voting power of the Company’s then outstanding securities (not
including in the securities beneficially owned by such Person any securities acquired directly from the Company or its affiliates); or 

(iv) the Board adopts a resolution to the effect that, for purposes of this Agreement, a Potential Change in
Control has occurred. 
 (i) Definition of Person. For purposes of paragraph (h), “Person” shall have the
meaning given in Section 3(a)(9) of the Securities Exchange Act of 1934, as modified and used in Sections 13(d) and 14(d) thereof, except that such term shall not include (i) the Company or any of its subsidiaries, (ii) a trustee or
other fiduciary holding securities under an employee benefit plan of the Company or any of its affiliates (within the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Securities Exchange Act of 1934), (iii) an
underwriter temporarily holding securities pursuant to an offering of such securities, or (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same

  
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proportions as their ownership of stock of the Company. 
 (j)
Definition of Replacement Award. For purposes of subsection (d), a “Replacement Award” means an award (i) of the same type (e.g., time-based restricted stock) as the Award, (ii) that has a value at least equal to
the value of the Award, (iii) that relates to publicly traded equity securities of the Company or its successor in the Change in Control or another entity that is affiliated with the Company or its successor following the Change in Control or
is payable solely in cash, (iv) if the Participant is subject to U.S. federal income tax under the Code, the tax consequences of which to such Participant under the Code are not less favorable to such Participant than the tax consequences of
the Award, and (v) the other terms and conditions of which are not less favorable to the Participant than the terms and conditions of the Award (including the provisions that would apply in the event of a subsequent Change in Control). A
Replacement Award may be granted only to the extent it does not result in the Award or Replacement Award failing to comply with or be exempt from Section 409A of the Code. Without limiting the generality of the foregoing, the Replacement Award
may take the form of a continuation of the Award if the requirements of the two preceding sentences are satisfied. The determination of whether the conditions of this Section 4(j) are satisfied will be made by the Committee, as constituted
immediately before the Change in Control, in its sole discretion. 
 5. Single Trigger Change in Control. Notwithstanding
Section 4(d) above, if, upon a Change in Control, the Participant does not receive a Replacement Award in accordance with Article 16 of the Plan, then the Award will vest on a pro-rata basis based on actual service during the aggregate
Restriction Period, and the Participant shall forfeit the remainder of the portion of the Award that does not vest or has not previously become vested. The portion of the Award that shall become vested shall be determined by multiplying the number
of Shares comprising the Award by a fraction, the numerator of which is the total number of calendar days during which the Participant was employed by the Company during the period beginning on the Grant Date and ending on the effective date of the
Change in Control and the denominator of which is ____, minus any Shares comprising any portion of the Award that had previously become vested, rounded down to the nearest whole number of Shares. 

The Committee shall determine whether a Change in Control has occurred, and such determination shall be conclusive and binding upon the
Company and the Participant. 
 6. Payment. On each of the following dates, the dividends and other distributions credited to the
account of the Participant pursuant to Section 2(b) with respect to the vested portion of the Award as of such date (if any, less any such amounts which became vested and were paid on an earlier date) shall be paid to the Participant: 

(a) Each of the vesting dates specified in the Award Notification; 

(b) The date of the Participant’s death; 

(c) The date of the Participant’s termination of employment; and 

(d) The effective date of a Change in Control. 

  
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 To the extent that the dividends or other distributions payable to the Participant were credited
to the Participant’s account in the form of cash, the Company shall make such payment in cash. Except as provided in the immediately following sentence, to the extent that the dividends or other distributions payable to the Participant were
credited to the Participant’s account in the form of Shares, the Company shall make such payment by causing its designated broker to credit an account for the Participant with a number of Shares equal to the number of Shares that became payable
on such date, rounded down to the next highest whole number of Shares, and shall make payment of any fractional Share in cash with the amount of cash determined by multiplying the percentage of a whole Share comprising such fractional share by the
closing price of a Share on the trading day immediately prior to the applicable payment date (or, in the event of payment made on account of Change in Control, by the closing price of a Share on the last trading day immediately prior to effective
date of the Change in Control). To the extent that the dividends or other distributions payable to the Participant were credited to the Participant’s account in the form of Shares and payment is made on or after the occurrence of a Change in
Control in circumstances in which Section 5 would have been applicable had the Participant still been employed with the Company on the effective date of the Change in Control, the Committee shall make such payment in cash and shall determine
the amount of cash by multiplying the number of Shares so credited to the Participant’s account by the closing price of a Share on the last trading day immediately prior to effective date of the Change in Control. The Company shall pay all
original issue or transfer taxes and all fees and expenses incident to the delivery of any Shares to the Participant. 
 7. Additional
Terms and Conditions of Award. 
 (a) Nontransferability of Award. The Award is not transferable except by will
or the laws of descent and distribution. 
 (b) Required Tax Payments and Withholding Shares. The Participant shall
pay to the Company all applicable federal, state, local or other taxes, domestic or foreign, with respect to the Award (the “Required Tax Payments”). Unless other arrangements are made with the consent of the Committee, all Required
Tax Payments will be satisfied by the Company withholding Shares otherwise to be delivered to the Participant, having a Fair Market Value on the date the tax is to be determined, sufficient to make the Required Tax Payments. The Company shall
withhold the whole number of Shares sufficient to make the Required Tax Payments and shall make a cash payment to the Participant for the difference between the Fair Market Value of the Shares withheld and the Required Tax Payments on the date on
which the portion of the Award giving rise to the Required Tax Payments becomes vested or, in the case of dividends and other distributions payable under Section 6, on the date on which such amounts giving rise to the Required Tax Payments are
paid (but if this would cause adverse accounting then one less Share shall be withheld, and the Participant shall provide the additional withholding that is required in cash). 

(c) Compliance with Applicable Laws. If the listing, registration or qualification of the Shares comprising the Award
upon any securities exchange or under any law, or the consent or approval of any governmental body, or the taking of any other action is necessary in connection with the vesting of the Award or the delivery of Shares hereunder, the Award shall not
vest or the Shares shall not be delivered, in whole or in part, unless such listing, registration, qualification, consent or approval shall have been effected or obtained, free of any conditions not 

  
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acceptable to the Company. The Company agrees to use reasonable efforts to effect or obtain any such listing, registration, qualification, consent or approval. As a further condition precedent to
the delivery of Shares comprising any portion of the Award that becomes vested pursuant to Section 4 or Section 5 above, the Participant shall comply with all regulations and requirements of any applicable regulatory authority and shall
execute any documents that the Company shall in its sole discretion deem necessary or advisable. The Committee shall be permitted to amend this Agreement in its discretion to the extent the Committee determines that such amendment is necessary or
desirable to achieve compliance with the Dodd-Frank Wall Street Reform and Consumer Protection Act and the guidance thereunder. 

(d) Agreement Subject to the Plan. This Agreement is subject to the provisions of the Plan (which are incorporated
herein by reference) and shall be interpreted in accordance with the Plan. The Participant acknowledges receipt of a copy of the Plan. 
 8.
Miscellaneous Provisions. 
 (a) Meaning of Certain Terms. As used herein, the term “vest” shall mean
no longer subject to a substantial risk of forfeiture. References in this Agreement to sections of the Code shall be deemed to refer to any successor section of the Code or any successor internal revenue law. 

(b) Successors. This Agreement shall be binding upon and inure to the benefit of any successor or successors of the
Company and any person or persons who shall, upon the death of the Participant, acquire any rights hereunder in accordance with this Agreement or the Plan. 

(c) Notices. All notices, requests or other communications provided for in this Agreement shall be made, if to the
Company, to the Company or its designated representative at corporate headquarters in Stamford, Connecticut, Attention: Human Resources, and if to the Participant, to the address set forth for the Participant on the records of the Company or to the
Participant’s e-mail or other electronic address with the Company. All notices, requests or other communications provided for in this Agreement shall be made in writing by (i) personal delivery, (ii) facsimile with confirmation of
receipt, (iii) e-mail or other electronic transmission to the Participant, (iv) mailing in the United States mail, or (v) by express courier service. The notice, request or other communication shall be deemed to be received upon
personal delivery, confirmation of receipt of facsimile transmission, one day after sending an e-mail or other electronic transmission to the Participant, or receipt by the party entitled thereto if by United States mail or express courier service;
provided, however, that if a notice, request or other communication is not received during regular business hours, it shall be deemed to be received on the next succeeding business day of the Company. 

(d) Reform by Court or Severability. In the event that any provision of this Agreement is deemed by a court to be
broader than permitted by applicable law, then such provision shall be reformed (or otherwise revised or narrowed) so that it is enforceable to the fullest extent permitted by applicable law. If any provision of this Agreement shall be declared by a
court to be invalid or unenforceable to any extent, the validity or enforceability of the remaining provisions of this Agreement shall not be affected. 

  
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 (e) Section 409A. Except as provided in paragraph (i) below, it
is intended, and this Agreement shall be construed, so that the Shares comprising the Award shall be exempt from Code section 409A pursuant to Treasury Regulation Section 1.409A-1(b)(6) and all other compensation payable under this Agreement
shall be exempt from Code section 409A pursuant to the exception for short-term deferrals. Accordingly, to maximize the potential application of the exception for short-term deferrals, each payment under the Agreement that is separately determined
and payable (for example, each individual dividend or distribution provided for by Section 2(b)) shall be considered a separate payment for purposes of Code section 409A. 

(i) If any compensation payable under this Agreement constitutes deferred compensation within the meaning of
Code section 409A (for example, because a delay in making payment causes the short-term deferral exception to not apply, or because the scheduled time of payment pursuant to Section 2(b) does not permit the short-term deferral exception to
apply to one or more such payments, and provided in any such case that the Participant is subject to taxation under the Code), such compensation shall comply with the requirements of Code section 409A and the Department of Treasury regulations and
other guidance thereunder (collectively, “409A and Related Guidance”). 
 (ii) To the
extent that Code section 409A is applicable to the Award under the terms of paragraph (i) above, compliance with 409A and Related Guidance shall include the following: (A) any provisions of this Agreement that provide for payment of
compensation that is subject to Code section 409A under paragraph (i) above and that has vesting and payment triggered by the Participant’s termination of employment shall be deemed to provide for vesting and payment that is triggered only
by the Participant’s “separation from service” within the meaning of Treasury Regulation Section §1.409A-1(h) (a “409A Separation from Service”), (B) if the Participant is a “specified employee”
within the meaning of Treasury Regulation Section §1.409A-1(i) on the date of his or her 409A Separation from Service (with such status determined by the Company in accordance with rules established by the Company in writing in advance of the
“specified employee identification date” that relates to the date of such separation from service or, in the absence of such rules established by the Company, under the default rules for identifying specified employees under Treasury
Regulation Section 1.409A-1(i)), such compensation shall be paid to the Participant six months following the date of such 409A Separation from Service (provided, however, that if the Participant dies after the date of such 409A Separation from
Service, this six-month delay shall not apply from and after the date of the Participant’s death), and (C) to the extent necessary to comply with Code section 409A, the definition of change in control that applies under Code section 409A
shall apply under this Agreement to the extent that it is more restrictive than the definition of Change in Control that would otherwise apply. In any case, where payment is delayed under clause (B) of the preceding sentence, payment of the
portion of the Award that was vested on the date of the Separation from Service shall be paid on the date applicable under clause (B), with the payment determined as if such date were the applicable payment date under Section 6. The Participant
acknowledges and agrees that the Company has made no representation regarding the tax treatment of any payment under this Agreement and, notwithstanding anything else in this Agreement, that the Participant is solely responsible for all taxes due
with respect to any payment under this Agreement. 

  
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 (f) Governing Law. This Agreement, the Award and all determinations made
and actions taken pursuant hereto and thereto, to the extent not otherwise governed by the laws of the United States, shall be construed in accordance with and governed by the laws of the State of New York without giving effect to conflicts of laws
principles. 
 (g) Personal Data. By accepting the Award, the Participant has voluntarily consented to the
collection, use, processing and transfer of personal data about the Participant, including the Participant’s name, home address and telephone number, date of birth, social security or insurance number or other employee identification number,
salary, nationality, job title, details of the Award for the purpose of managing and administering the Plan (“Data”). The Company and/or its subsidiaries and affiliates will transfer Data amongst themselves as necessary for the
purpose of implementation, administration and management of the Participant’s participation in the Plan, and the Company and/or any of its subsidiaries and affiliates may each further transfer Data to any third parties assisting the Company in
the implementation, administration and management of the Plan. 
  

			
	STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
		
	By:	 	 /s/ Jeffrey M. Cava

		 	 Jeffrey M. Cava

		 	Executive Vice President & Chief Human Resources Officer

  
 10EX-4.2

 Exhibit 4.2 

FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

THIS FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is dated as of July 23, 2014 and
is made by and among BOB EVANS FARMS, LLC, an Ohio limited liability company (the “Borrower”), the Guarantors party hereto, the Lenders (as defined in the Credit Agreement, defined herein), and PNC BANK, NATIONAL ASSOCIATION, a
national banking association, in its capacity as administrative agent (the “Administrative Agent”). 
 WITNESSETH:

 WHEREAS, the Borrower, the Guarantors, the Lenders and the Administrative Agent are parties to that certain Amended and
Restated Credit Agreement dated as of January 2, 2014 (as amended, restated, modified or supplemented from time to time, the “Credit Agreement”); 

WHEREAS, the Borrower, the Guarantors, the Lenders and the Administrative Agent wish to amend the Credit Agreement, as hereinafter provided.

 NOW, THEREFORE, the parties hereto, in consideration of their mutual covenants and agreements hereinafter set forth and intending to be
legally bound hereby, covenant and agree as follows: 
 1. Recitals. The foregoing recitals are incorporated herein by reference. 

2. Defined Terms. All terms used in this Amendment and not otherwise defined herein shall have the meaning given to them in the Credit
Agreement, as amended hereby. 
 3. Amendments to Credit Agreement. 

(a) Clause (v) of Section 8.2.5 [Restricted Payments] of the Credit Agreement is hereby deleted in its entirety and replaced with the
following: 
 (v) so long as no Potential Default or Event of Default has occurred and is continuing, the Parent may
(i) repurchase fractional shares of common stock of the Parent and (ii) repurchase shares of common stock of the Parent for cash, so long as the Parent would be in pro forma compliance with the financial covenants set forth in
Section 8.2.15 [Financial Covenants] after giving effect thereto and, in addition, for any share repurchases completed prior to April 24, 2015, the Parent must demonstrate that on a pro forma basis after giving effect to such repurchase,
the Leverage Ratio does not exceed 4.00 to 1.00; provided, further, in no event shall any Loan Party make payments on account of the repurchase of shares of the Parent in excess of $50,000,000 in the aggregate during the fiscal year
ending April 24, 2015 and $100,000,000 in the aggregate during the fiscal year ending April 22, 2016. 
 (b) Section 8.2.15.2
[Maximum Leverage Ratio] of the Credit Agreement is hereby deleted in its entirety and replaced with the following: 

 8.2.15.2 Maximum Leverage Ratio. The Loan Parties shall not at any time
permit the Leverage Ratio, calculated as of the end of each fiscal quarter for the four (4) quarters then ended, to exceed the ratio set forth below for the fiscal quarter set forth below; provided, however, on or after April 24, 2015, the
Borrower may request, no more than two (2) times during the term of this Agreement, an increase in the Leverage Ratio set forth below of .25 to .50, as applicable (but in no event in excess of 4.25 to 1.00) for three (3) fiscal quarters
following delivery of written notification from the Borrower of a Permitted Acquisition involving total cash or non-cash consideration in excess of $50,000,000 and subject to the consummation of such Permitted Acquisition, together with a revised
forecast evidencing pro forma compliance with this Section (both during and after the expiration of such three (3) fiscal quarters). The revised forecast shall provide in reasonable detail an income statement, balance sheet, and cash flow
statement and outline the impact on the revised forecast resulting from this request. For example, if the Borrower has requested an increase in the Leverage Ratio in connection with a Permitted Acquisition which closes in the first fiscal quarter,
the Borrower shall have until the end of the fourth fiscal quarter to bring the Leverage Ratio back to the level otherwise required as set forth below. 
  

					
	 Fiscal Quarter Ending
	  	Leverage Ratio	 
	 July 25, 2014 - October 24, 2014
	  	 	4.50 to 1.00	  
	 January 23, 2015
	  	 	4.25 to 1.00	  
	 April 24, 2015 - April 22, 2016
	  	 	4.00 to 1.00	  
	 July 22, 2016 and thereafter
	  	 	3.75 to 1.00	  

 (c) Schedule 1.1(A) [Pricing Grid—Variable Pricing and Fees Based on Leverage Ratio] of the Credit
Agreement is hereby deleted in its entirety and replaced with Schedule 1.1(A) attached hereto. 
 4. Conditions Precedent.
The effectiveness of this Amendment is subject to the receipt by the Administrative Agent on behalf of the Lenders of the following, in form and substance satisfactory to the Administrative Agent, and the first date on which the Loan Parties have
satisfied all of the following conditions to the satisfaction of the Administrative Agent shall be referred to as the “Effective Date”. 

(a) Counterparts. The Administrative Agent shall have received from the Borrower, the Guarantors and the Required Lenders an executed
counterpart original of this Amendment. 
 (b) Legal Details. All legal details and proceedings in connection with the transactions
contemplated by this Amendment shall be in form and substance satisfactory to the Administrative Agent. 

  
 2 

 (c) Payment of Fees. 

(i) The Borrower unconditionally agrees to pay to (A) the Administrative Agent, for the benefit of the Lenders which have
executed and delivered this Amendment to the Administrative Agent on or before 5:00 pm (Pittsburgh, PA time) on July 23, 2014 in accordance with their Ratable Shares, an amendment fee in the amount of 15.0 basis points of each such
Lender’s Revolving Credit Commitment as in effect on the Effective Date and (B) PNC Capital Markets LLC the structuring and arrangement fee set forth in the Engagement and Fee Letter dated July 8, 2014 among PNC Capital Markets, the
Administrative Agent and the Borrower. 
 (ii) The Borrower unconditionally agrees to pay and reimburse the Administrative
Agent and hold the Administrative Agent harmless against liability for the payment of all reasonable out-of-pocket costs, expenses and disbursements, including, without limitation, reasonable expenses of counsel, incurred by the Administrative Agent
in connection with the development, preparation and execution of this Amendment and all other documents or instruments to be delivered in connection herewith. 

5. Representations and Warranties of the Loan Parties. Each Loan Party covenants and agrees with and represents and warrants to the
Administrative Agent and the Lenders as follows: 
 (a) such Loan Party possesses all of the powers requisite for it to enter into and carry
out the transactions of such Loan Party referred to herein and to execute, enter into and perform the terms and conditions of this Amendment and any other documents contemplated herein that are to be performed by such Loan Party; and that any and
all actions required or necessary pursuant to such Loan Party’s organizational documents or otherwise have been taken to authorize the due execution, delivery and performance by such Loan Party of the terms and conditions of this Amendment and
said other documents, and that such execution, delivery and performance will not conflict with, constitute a default under or result in a breach of any applicable Law or any agreement, instrument, order, writ, judgment, injunction or decree to which
such Loan Party is a party or by which such Loan Party or any of its properties are bound, and that all consents, authorizations and/or approvals required or necessary from any third parties in connection with the entry into, delivery and
performance by such Loan Party of the terms and conditions of this Amendment, the said other documents and the transactions contemplated hereby have been obtained by such Loan Party and are in full force and effect; 

(b) this Amendment and any other documents contemplated herein constitute the valid and legally binding obligations of such Loan Party,
enforceable against such Loan Party in accordance with their respective terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws and by general equitable principles, whether
enforcement is sought by proceedings at law or in equity; 
 (c) all representations and warranties made by such Loan Party in the Loan
Documents are true and correct in all respects as of the date hereof (except to the extent any representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct
on such earlier date), with the same force and effect as if all such representations and warranties were fully set forth herein and made as of the date hereof and such Loan Party has complied with all covenants and undertakings in the Loan
Documents; and 

  
 3 

 (d) (i) no Event of Default has occurred and is continuing under the Loan Documents; and
(ii) and there exist no defenses, offsets, counterclaims or other claims with respect to the obligations and liabilities of such Loan Party under the Credit Agreement or any of the other Loan Documents. 

6. Reaffirmation; References to Credit Agreement. Each Loan Party reconfirms, restates and ratifies the Credit Agreement, the Guaranty
Agreement and all other Loan Documents executed by such Loan Party in connection therewith, except to the extent the Credit Agreement, the Guaranty Agreement and any such Loan Document are expressly modified by this Amendment, and the Loan Parties
confirm that the Credit Agreement, the Guaranty Agreement and all other Loan Documents have remained in full force and effect since the date of their execution. The parties hereby agree the execution and delivery of this Amendment is not intended to
and shall not cause or result in a novation with regard to the existing indebtedness of the Borrower to the Administrative Agent or any Lender, which indebtedness shall continue without interruption and has not been discharged. 

7. Successors and Assigns. This Amendment shall apply to and be binding upon, and shall inure to the benefit of, each of the other
parties hereto and their respective successors and assigns permitted under the Credit Agreement. Nothing expressed or referred to in this Amendment is intended or shall be construed to give any person or entity other than the parties hereto a legal
or equitable right, remedy or claim under or with respect to this Amendment or any Loan Documents, it being the intention of the parties hereto that this Amendment and all of its provisions and conditions are for the sole and exclusive benefit of
the parties hereto. 
 8. Severability. If any one or more of the provisions contained in this Amendment or the Loan Documents shall
be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained in this Amendment or the Loan Documents shall not in any way be affected or impaired thereby, and this
Amendment shall otherwise remain in full force and effect. 
 9. Governing Law. This Amendment shall be deemed to be a contract under
the Laws of the State of Ohio and shall, for all purposes be governed by and construed in accordance with the Laws of the State of Ohio. 

10. Counterparts; Facsimile or Electronic Signatures. This Amendment may be executed in any number of counterparts each of which, when
so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument. Delivery of executed signature pages hereof by facsimile or other electronic method of transmission (such as “pdf”) from
one party to another shall constitute effective and binding execution and delivery thereof by such party. Any party that delivers its original counterpart signature to this Amendment by facsimile or other electronic method of transmission hereby
covenants to personally deliver its original counterpart signature promptly thereafter to the Administrative Agent. 
 [SIGNATURE PAGES
FOLLOW] 

  
 4 

 [SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT] 

IN WITNESS WHEREOF, the parties hereto, by their officers thereunto duly authorized, have executed this First Amendment to Amended and
Restated Credit Agreement as of the day and year first above written. 
  

			
	BOB EVANS FARMS, LLC, an Ohio limited liability company
		
	By:	 	/s/ Mark E. Hood
		 	Mark E. Hood, Chief Financial Officer
	
	GUARANTORS:
	
	BOB EVANS FARMS, INC., a Delaware corporation
		
	By:	 	/s/ Mark E. Hood
		 	Mark E. Hood, Chief Financial Officer
	
	BEF FOODS, INC., an Ohio corporation
		
	By:	 	/s/ Mark E. Hood
	Mark E. Hood, Chief Financial Officer

 [SIGNATURE PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT] 

 

			
	PNC BANK, NATIONAL ASSOCIATION, individually and as Administrative Agent
		
	By:	 	/s/ George M. Gevas
	Name: George M. Gevas
	Title: Senior Vice President
	
	[Signed By A Representative of Each of the Following Banks]
	
	BANK OF AMERICA N.A.
		
	By:	 	/s/
	Name:	 	 
	Title:	 	 
	
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	/s/
	Name:	 	 
	Title:	 	 
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	/s/
	Name:	 	 
	Title:	 	 

 
			
	
	FIFTH THIRD BANK
		
	By:	 	/s/
	Name:	 	 
	Title:	 	 
	
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	/s/
	Name:	 	 
	Title:	 	 
	
	KEYBANK NATIONAL ASSOCIATION
		
	By:	 	/s/
	Name:	 	 
	Title:	 	 
	
	THE HUNTINGTON NATIONAL BANK
		
	By:	 	/s/
	Name:	 	 
	Title:	 	 
	
	THE OHIO VALLEY BANK COMPANY
		
	By:	 	/s/
	Name:	 	 
	Title:	 	 

 SCHEDULE 1.1(A) 

PRICING GRID— 

VARIABLE PRICING AND FEES BASED ON LEVERAGE RATIO 
  

																							
	 Level
	  	 Leverage Ratio
	  	Commitment
Fee Rate	 	 	Letter of
Credit Fee
Rate
(Standby)	 	 	Letter of
Credit Fee
Rate
(Commercial)	 	 	Revolving
Credit Base
Rate Spread	 	 	Revolving
Credit
LIBOR Rate
Spread	 
	 I
	  	Less than 1.5 to 1.0	  	 	.150	% 	 	 	1.000	% 	 	 	0.5000	% 	 	 	0.000	% 	 	 	1.000	% 
	 II
	  	Greater than or equal to 1.5 to 1.0 but less than 2.0 to 1.0	  	 	.175	% 	 	 	1.125	% 	 	 	0.5625	% 	 	 	.125	% 	 	 	1.125	% 
	 III
	  	Greater than or equal to 2.0 to 1.0 but less than 2.5 to 1.0	  	 	.200	% 	 	 	1.375	% 	 	 	0.6875	% 	 	 	.375	% 	 	 	1.375	% 
	 IV
	  	Greater than or equal to 2.5 to 1.0 but less than 3.0 to 1.0	  	 	.225	% 	 	 	1.500	% 	 	 	0.7500	% 	 	 	.500	% 	 	 	1.500	% 
	 V
	  	Greater than or equal to 3.0 to 1.0 but less than 3.5 to 1.0	  	 	.250	% 	 	 	1.750	% 	 	 	0.8750	% 	 	 	.750	% 	 	 	1.750	% 
	 VI
	  	Greater than or equal to 3.5 to 1.0 but less than 3.75 to 1.0	  	 	.250	% 	 	 	2.000	% 	 	 	1.0000	% 	 	 	1.000	% 	 	 	2.000	% 
	 VII
	  	Greater than or equal to 3.75 to 1.0 but less than 4.0 to 1.0	  	 	.250	% 	 	 	2.25	% 	 	 	1.25	% 	 	 	1.25	% 	 	 	2.25	% 
	 VIII
	  	Greater than or equal to 4.0 to 1.0	  	 	.250	% 	 	 	2.75	% 	 	 	1.75	% 	 	 	1.75	% 	 	 	2.75	% 

 For purposes of determining the Applicable Margin, the Applicable Commitment Fee Rate and the Applicable
Letter of Credit Fee Rate: 
 (a) The Applicable Margin, the Applicable Commitment Fee Rate and the Applicable Letter of Credit Fee Rate in
effect on the Closing Date shall be determined as of the end of the fiscal quarter immediately prior to the Closing Date based on the Leverage Ratio computed pursuant to a Compliance Certificate to be delivered on the Closing Date. 

 (b) The Applicable Margin, the Applicable Commitment Fee Rate and the Applicable Letter of Credit
Fee Rate shall be recomputed as of the end of each fiscal quarter ending after the Closing Date based on the Leverage Ratio as of such quarter end. Any increase or decrease in the Applicable Margin, the Applicable Commitment Fee Rate or the
Applicable Letter of Credit Fee Rate computed as of a quarter end shall be effective on the date on which the Compliance Certificate evidencing such computation is due to be delivered under Section 8.3.3 [Certificate of Borrower]. If a
Compliance Certificate is not delivered within three (3) Business Days of the date due in accordance with such Section 8.3.3, then the rates in Level VIII shall apply as of the first Business Day after the date on which such
Compliance Certificate was required to have been delivered and shall remain in effect until the date on which such Compliance Certificate is delivered. 

(c) If, as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the Borrower
or the Lenders determine that (i) the Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Leverage Ratio would have resulted in higher pricing for such period, the
Borrower shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the applicable Lenders, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order
for relief with respect to the Borrower under the Bankruptcy Code of the United States, automatically and without further action by the Administrative Agent, any Lender or the Issuing Lender), an amount equal to the excess of the amount of interest
and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of the Administrative Agent, any Lender or the Issuing Lender, as the case may be,
under Section 2.9 [Letter of Credit Subfacility] or Section 4.3 [Interest After Default] or Section 9 [Default]. The Borrower’s obligations under this paragraph shall survive the termination of the Commitments and the repayment
of all other Obligations hereunder. 

  
 2

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