Document:

Form of Second Supplemental Indenture

 EXHIBIT 4.1 
  
  
  
 MURPHY OIL CORPORATION 
 and 
 SUNTRUST BANK 
 Trustee 
  
  
 Second Supplemental Indenture 
 Dated as of May 2, 2002 
  
  
 $350,000,000 aggregate principal amount of 6.375% Notes Due 2012 
  
  
  

 TABLE OF CONTENTS* 
  

			
	 	  	Page
	 PARTIES
	  	1
	 RECITALS:
	  	
	 Purpose of Second Supplemental Indenture
	  	1
	 Form of Note, Face
	  	2
	 Form of Trustee’s Certificate of Authentication
	  	4
	 Form of Note, Reverse
	  	5
	 Compliance with Legal Requirements
	  	8
	 Consideration
	  	9
	 PART I: CREATION AND AUTHORIZATION OF NOTES
	  	9
	 PART II: SPECIAL PROVISIONS APPLICABLE TO THIS SERIES
	  	9
	 TESTIMONIUM
	  	10
	 SIGNATURES AND SEALS
	  	10

  

	*	The Table of Contents is not part of this Second Supplemental Indenture. 

  

 i 

 SECOND SUPPLEMENTAL INDENTURE, dated as of May 2, 2002, between Murphy Oil Corporation, a Delaware corporation
(hereinafter sometimes referred to as the “Company”), and SUNTRUST BANK, a Georgia state banking corporation and the successor in interest to SUNTRUST BANK, NASHVILLE, N.A. (hereinafter sometimes referred to as the “Trustee”).

 WITNESSETH THAT: 
 WHEREAS,
the Company and the Trustee have entered into an Indenture (the “Indenture”) dated as of May 4, 1999 providing for the issuance of debt securities in series; and 
 WHEREAS, for its lawful corporate purposes, the Company desires to create and authorize the series 6.375% Notes due May 1, 2012 (hereinafter
referred to as the “Notes”) initially in an aggregate principal amount of Three Hundred Fifty Million Dollars ($350,000,000), and to provide the terms and conditions upon which the Notes are to be executed, registered, authenticated,
issued and delivered, the Company has duly authorized the execution and delivery of this Supplemental Indenture; and 
 WHEREAS, the Notes
and the certificate of authentication to be borne by the Notes are to be substantially in the following forms, respectively; 

 [FORM OF NOTE] 
 [FACE] 
 Unless this certificate is presented by an authorized representative of The Depository Trust
Company, a New York corporation (“DTC”), to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an
authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
 Unless and until it is exchanged in whole
or in part for Securities in definitive registered form, this Security may not be transferred except as a whole by the Depositary to the nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the
Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 
  

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	 No. 1
	  	CUSIP	  	#626717AB 8
		  		  	$350,000,000

 MURPHY OIL CORPORATION 
 6.375% Note Due 2012 
 Murphy Oil Corporation, a corporation duly organized and
existing under the laws of the State of Delaware (herein called the “Company”), for value received, hereby promises to pay to Cede & Co. or registered assigns, the principal sum of Three Hundred Fifty Million Dollars
($350,000,000) on May 1, 2012, at the office or agency of the Company in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of
public and private debts, and to pay interest, semiannually on May 1 and November 1 of each year, commencing November 1, 2002, on said principal sum at said office or agency, in like coin or currency, at the rate per year specified in
the title of this Note; provided, that payment of interest may be made on any Note issued in definitive form, at the option of the Company by check mailed to the address of the person entitled thereto as such address shall appear on the Security
register. Interest on the Note will accrue from the most recent date to which interest has been paid, or if no interest has been paid, from May 2, 2002. The interest so payable on any May 1 or November 1 will, subject to certain
exceptions provided in the Indenture dated as of May 4, 1999 (herein called the “Indenture”) referred to on the reverse hereof, be paid to the person in whose name this Note (or one or more predecessor Notes) is registered at the
close of business on the April 15 or October 15 (whether or not a Business Day), as the case may be, next preceding such May 1 or November 1. Reference is made to the further provisions of this Note set forth on the reverse
hereof. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This Note shall not
be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been executed by the Trustee under the Indenture referred to on the reverse hereof by manual signature. 
  

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 IN WITNESS WHEREOF, Murphy Oil Corporation has caused this instrument to be duly executed. 
  

			
	MURPHY OIL CORPORATION
		
	By	 	 
		 	
		
	By	 	 
		 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 Dated: May 2, 2002 
 This is one of the Securities
designated herein and referred to in the within-mentioned Indenture. 
  

			
	SUNTRUST BANK
	as Authorized Signatory
		
	By:	 	 
		 	Authorized Officer

  

 4 

 [REVERSE OF NOTE] 
 MURPHY OIL CORPORATION 
 6.375% Note Due 2012 
 This Note is one of a duly authorized issue of unsecured debentures, notes, or other evidences of indebtedness of the Company (hereinafter called the
“Securities”) of the series hereinafter specified, all issued or to be issued under and pursuant to an indenture dated as of May 4, 1999 (herein called the “Indenture”), duly executed and delivered by the Company to SunTrust
Bank, as Trustee (herein called the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of
the Trustee, the Company and the Holders of the Securities. The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest (if any) at
different rates, may be subject to different redemption provisions (if any), may be subject to different sinking, purchase or analogous funds (if any) and may otherwise vary as provided in the Indenture. This Note is one of a series designated as
the 6.375% Notes Due 2012 (the “Notes”) of the Company, initially limited in aggregate principal amount to $350,000,000. 
 In case
an Event of Default with respect to the Notes shall have occurred and be continuing, the principal hereof may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided
in the Indenture. 
 The Indenture contains provisions permitting the Company and the Trustee, with the consent of the Holders of not less
than a majority in aggregate principal amount of the Securities of each series issued under such Indenture then Outstanding and affected, to add any provisions to, or change in any manner or eliminate any of the provisions of, such Indenture or
modify in any manner the rights of the Holders of the Securities of each series so affected; provided that the Company and the Trustee may not, without the consent of the Holder of each outstanding Security affected thereby, (i) extend the
stated maturity of any Security, or reduce the principal amount thereof or reduce the rate or extend the time of payment of interest thereon, or reduce any amount payable on redemption thereof or reduce the principal amount of any original issue
discount security payable upon acceleration or provable in bankruptcy or impair or affect the right to institute suit for the payment on any Security when due or (ii) reduce the aforesaid percentage in aggregate principal amount of Securities
of any series issued under such Indenture, the consent of the Holders of which is required for any such modification. It is also provided in the Indenture that, with respect to 

  

 5 

 
certain defaults or Events of Default regarding the Securities of any series, prior to any declaration accelerating the maturity of such Securities, the
Holders of a majority in aggregate principal amount Outstanding of the Securities of such series (or, in the case of certain defaults or Events of Default, all or certain series of the Securities) may on behalf of the Holders of all the Securities
of such series (or, in the case of certain defaults or Events of Default, all or certain series of the Securities, as the case may be) waive any such past default or Event of Default and its consequences. The preceding sentence shall not, however,
apply to a default in the payment of the principal of or interest on any of the Securities. Any such consent or waiver by the Holder of this Note (unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon
all future Holders and owners of this Note and any Notes which may be issued in exchange or substitution herefor or on registration of transfer hereof, irrespective of whether or not any notation thereof is made upon this Note or such other Notes.

 The Company may from time to time, without the consent of the Outstanding Holders, create and issue additional Notes having the same terms
and conditions as the 6.375% Notes due 2012, except for the issue date, issue price and, under some circumstances, the date of the first payment of interest on the notes. Additional Notes issued in this manner will be consolidated with and form a
single series with the 6.375% Notes due 2012. No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of
and interest on this Note in the manner, at the respective times, at the rate and in the coin or currency herein prescribed. 
 The Notes are
redeemable as a whole or in part, at the option of the Company at any time and from time to time, at a “make-whole” redemption price equal to the greater of (i) 100% of principal amount of such Notes, or (ii) the sum of the
present values of the Remaining Scheduled Payments of the Notes being redeemed (exclusive of any accrued and unpaid interest to the redemption date), discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Treasury Rate plus 25 basis points, plus in each case accrued interest thereon, if any, to the date of redemption. 
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker that would be used, at the time of selection and in accordance with customary financial practice, in pricing new
issues of corporate debt securities of comparable maturity to the remaining term of the Notes. 
  

 6 

 “Comparable Treasury Price” means: 
  

	 	•	 	 the average of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) as of the third business
day preceding the redemption date, as set forth in the daily statistical release (or any successor release) published by the Federal Reserve Bank of New York and designated “Composite 3:30 p.m. Quotations for U.S. Government Securities,”
or 

  

	 	•	 	 if that release (or any successor release) is not published or does not contain such prices on that business day, (a) the average of the Reference Treasury
Dealer Quotations for the redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (b) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all
quotations obtained. 

 “Independent Investment Banker” means one of the Reference Treasury Dealers that the
Company appoints. 
 “Reference Treasury Dealer” means each of Banc of America Securities LLC and J.P. Morgan Securities Inc. (and
their respective successors) and three other nationally recognized investment banking firms that are primary U.S. Government securities dealers specified from time to time by the Company. If, however, any of them shall cease to be a primary U.S.
Government securities dealer, the Company will substitute another nationally recognized investment banking firm that is such a dealer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30 p.m., New York time, on the third business day preceding the redemption date. 
 “Remaining Scheduled Payments” means the remaining scheduled payments of the principal of and interest on each Note to be redeemed that would
be due after the related redemption date but for such redemption. If the redemption date is not an interest payment date with respect to the Note being redeemed, the amount of the next succeeding scheduled interest payment on the Note will be
reduced by the amount of interest accrued thereon to that redemption date. 
  

 7 

 “Treasury Rate” means the rate per year equal to the semiannual equivalent yield to maturity
(computed as of the second business day immediately preceding the redemption date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for the redemption date. 
 The Notes are issuable in fully registered form, without coupons, in denominations of $1,000 and
any integral multiple of $1,000 at the office or agency of the Company in the Borough of Manhattan, The City of New York, and in the manner and subject to the limitations provided in the Indenture, but without the payment of any service charge.
Notes may be exchanged for a like aggregate principal amount of Notes of other authorized denominations. 
 Upon due presentment for
registration of transfer of this Note at the office or agency of the Company in the Borough of Manhattan, The City of New York, a new Note or Notes of authorized denominations for an equal aggregate principal amount will be issued to the transferee
in exchange therefor, subject to the limitations provided in the Indenture, without charge except for any tax or other governmental charge imposed in connection therewith. 
 The Company, the Trustee and any authorized agent of the Company or the Trustee may deem and treat the registered Holder hereof as the absolute owner of
this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon), for the purpose of receiving payment of, or on account of, the principal hereof and subject to the provisions on the face
hereof, interest hereon, and for all other purposes, and none of the Company, the Trustee or any authorized agent of the Company or the Trustee shall be affected by any notice to the contrary. 
 No recourse under or upon any obligation, covenant or agreement of the Company in the Indenture or any indenture supplemental thereto or in any Note, or
because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer or director, as such of the Company or of any successor corporation, either directly or through the Company or any successor
corporation, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance hereof and
as part of the consideration for the issue hereof. 
 This Note shall for all purposes be governed by, and construed in accordance with, the
laws of the State of New York. 
 Terms used herein which are defined in the Indenture shall have the respective meanings assigned thereto in
the Indenture. 
  

 8 

 AND WHEREAS, all acts and things necessary to make the Notes, when executed by the Company and
authenticated and delivered by or on behalf of the Trustee as in this Indenture provided, the valid, binding and legal obligations of the Company, and to constitute these presents a valid Indenture and agreement according to its terms, have been
done and performed. 
 NOW THEREFORE: 
 In order to declare the terms and conditions upon which the Notes are executed, registered, authenticated, issued and delivered, and in consideration of the premises, of the purchase and acceptance of such Notes by the holders thereof and
of the sum of one dollar to it duly paid by the Trustee at the declaration of these presents, the receipt whereof is hereby acknowledged, the Company covenants and agrees with the Trustee, for the equal and proportionate benefit of the respective
holders from time to time by such Notes, as follows: 
 PART I 
 CREATION AND AUTHORIZATION OF NOTES 
 There is hereby created and authorized the series of Notes entitled
the “6.375% Notes Due 2012”, which shall be a series initially limited to $350,000,000 aggregate principal amount (except such Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other
Notes of this series pursuant to Sections 2.08, 209, 2.11 or 11.03 of the Indenture). 
 PART II 
 SPECIAL PROVISIONS APPLICABLE TO THIS SERIES 
 There are no special provisions applicable to this Series. 
  

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 IN WITNESS WHEREOF, Murphy Oil Corporation has caused this Second Supplemental Indenture to be signed and
delivered and its corporate seal to be affixed hereunto and the same to be attested, and the Trustee has caused this Second Supplemental Indenture to be signed and delivered and its corporate seal to be affixed hereunto and the same to be attested,
all as of the day and year first written above. 
  

			
	MURPHY OIL CORPORATION
	
	By /s/ Kevin G. Fitzgerald
	
	[CORPORATE SEAL]
	ATTEST:
	
	/s/ Walter K. Compton
	
	SUNTRUST BANK
	AS TRUSTEE
	
	By /s/ Vincent R. Harrison
	
	[CORPORATE SEAL]
	ATTEST:
	
	/s/ Donna L. Williams

  

 10EXHIBIT 10.26

 Exhibit 10.26 
 HOST HOTELS & RESORTS, L.P. 
 Executive Deferred Compensation Plan 
 As Amended and Restated, Effective as of January 1, 2008 

 TABLE OF CONTENTS 
  

					
	 	  	Page
		
	ARTICLE I—INTRODUCTION	  	2
			
	            1.1	  	Name	  	2
	            1.2	  	Purpose	  	2
	            1.3	  	Interpretation	  	2
		
	ARTICLE II—DEFINITIONS	  	2
			
	            2.1	  	Generally	  	2
	            2.2	  	Account	  	2
	            2.3	  	Agreement	  	3
	            2.4	  	Balance	  	3
	            2.5	  	Board Committee	  	3
	            2.6	  	Board of Directors	  	3
	            2.7	  	Change of Control	  	3
	            2.8	  	Code	  	5
	            2.9	  	Committee	  	5
	            2.10	  	Compensation	  	5
	            2.11	  	Contributions	  	5
	            2.12	  	Deemed Earnings	  	5
	            2.13	  	Deemed Crediting Options	  	5
	            2.14	  	Deferral Election Form	  	5
	            2.15	  	Designated Beneficiary	  	6
	            2.16	  	Disability or Disabled	  	6
	            2.17	  	Distribution Election Form	  	6
	            2.18	  	Effective Date	  	6
	            2.19	  	Eligible Employee	  	6
	            2.20	  	Employee	  	7
	            2.21	  	Employer	  	7
	            2.22	  	ERISA	  	7
	            2.23	  	In-Service Distribution	  	7
	            2.24	  	Matching Contribution	  	7
	            2.25	  	Matching Contribution Account	  	7
	            2.26	  	Participant	  	7
	            2.27	  	Participant Deferral	  	7
	            2.28	  	Participant Deferral Account	  	7
	            2.29	  	Plan Year	  	8
	            2.30	  	Qualified Retirement Plan	  	8
	            2.31	  	Separation from Service	  	8
	            2.32	  	Specified Employee	  	8
	            2.33	  	Unforeseeable Emergency	  	8
	            2.34	  	Valuation Date	  	9

  

 i 

					
	ARTICLE III—ELIGIBILITY AND PARTICIPATION	  	9
			
	            3.1	  	Eligibility Requirements	  	9
	            3.2	  	Participation	  	9
		
	ARTICLE IV—ELECTIONS, DEFERRALS & MATCHING CONTRIBUTIONS	  	9
			
	            4.1	  	Participant Election to Defer Compensation	  	9
	            4.2	  	Distribution Elections	  	10
	            4.3	  	New Participants and Partial Years	  	10
	            4.4	  	Irrevocable Elections	  	10
	            4.5	  	Unclear Elections	  	11
	            4.6	  	Matching Contributions	  	11
		
	ARTICLE V—ACCOUNTS AND ACCOUNT CREDITING	  	11
			
	            5.1	  	Establishment of a Participant’s Account	  	11
	            5.2	  	Deemed Crediting Options	  	11
	            5.3	  	Allocation Of Account Among Deemed Crediting Options	  	12
	            5.4	  	Valuation and Risk of Decrease in Value	  	12
	            5.5	  	Limited Function of Committee	  	12
		
	ARTICLE VI—VESTING	  	12
			
	            6.1	  	Vesting of Participant Deferrals	  	12
	            6.2	  	Vesting of Matching Contributions	  	13
		
	ARTICLE VII—DISTRIBUTIONS	  	13
			
	            7.1	  	Distributions Generally	  	13
	            7.2	  	Automatic Distributions	  	13
	            7.3	  	In-Service Distributions	  	14
	            7.4	  	Distributions Resulting from Unforeseeable Emergency	  	14
	            7.5	  	Distributions of Small Accounts	  	14
		
	ARTICLE VIII—ADMINISTRATION AND CLAIMS PROCEDURE	  	15
			
	            8.1	  	Duties of the Employer	  	15
	            8.2	  	The Committee	  	15
	            8.3	  	Committee’s Powers and Duties to Enforce Plan	  	15
	            8.4	  	Organization of the Committee	  	15
	            8.5	  	Limitation of Liability	  	16
	            8.6	  	Committee Reliance on Records and Reports	  	16
	            8.7	  	Costs of the Plan	  	17
	            8.8	  	Claims Procedure	  	17
	            8.9	  	Litigation	  	18
		
	ARTICLE IX—AMENDMENT, TERMINATION & REORGANIZATION	  	18

  

 ii 

					
	            9.1	  	Amendment	  	18
	            9.2	  	Amendment Required By Law	  	19
	            9.3	  	Termination	  	19
	            9.4	  	Consolidation/Merger	  	19
		
	ARTICLE X—GENERAL PROVISIONS	  	20
			
	            10.1	  	Applicable Law	  	20
	            10.2	  	Benefits Not Transferable or Assignable	  	20
	            10.3	  	Not an Employment Contract	  	21
	            10.4	  	Notices	  	21
	            10.5	  	Severability	  	21
	            10.6	  	Participant is General Creditor with No Rights to Assets	  	21
	            10.7	  	No Trust Relationship Created	  	22
	            10.8	  	Limitations on Liability of the Employer	  	22
	            10.9	  	Agreement Between Employer and Participant Only	  	23
	            10.10	  	Independence of Benefits	  	23
	            10.11	  	Unclaimed Property	  	23
	            10.12	  	Required Tax Withholding and Reporting	  	23
	            10.13	  	Section 409A Compliance	  	23

  

 iii 

 HOST HOTELS & RESORTS, L.P. 
 Executive Deferred Compensation Plan 
 (As Amended and Restated Effective
January 1, 2008) 
 PREAMBLE 
 WHEREAS, Host Marriott, L.P. sponsored the Host Marriott, L.P. Executive Deferred Compensation Plan, as amended and restated January 31, 2002, and further amended and restated effective January 1, 2005 and
January 1, 2008 (the “Plan”); and 
 WHEREAS, Host Marriott, L.P. changed its name to Host Hotels & Resorts, L.P.;
and 
 WHEREAS, pursuant to Section 9.1 of the Plan, the Board of Directors (as defined in Section 2.6) reserves the right to amend
the Plan at any time; and 
 WHEREAS, the Board of Directors has determined to amend the Plan to reflect the final regulations issued under
Section 409A of the Internal Revenue Code (as part of the American Jobs Creation Act of 2004); and 
 WHEREAS, Host Hotels &
Resorts, L.P. intends to comply fully with the requirements of Section 409A of the Code, and Treasury regulations to be issued from time to time interpreting the statute; and 
 NOW, THEREFORE, set forth herein are the terms of the Plan, as amended and restated effective January 1, 2008, for the benefit of certain key
executives. 

 ARTICLE I—INTRODUCTION 
 1.1 Name. 
 The name of this Plan is the Host Hotels & Resorts, L.P. Executive
Deferred Compensation Plan (the “Plan”). 
 1.2 Purpose. 
 The purpose of the Plan is to offer Participants the opportunity to defer voluntarily current Compensation for retirement income and other significant
future financial needs for themselves, their families and other dependents, and to provide the Employer, if appropriate, a vehicle to address limitations on its contributions under any tax-qualified defined contribution plan. This Plan is intended
to be a nonqualified “top-hat” plan; that is, an unfunded plan of deferred compensation maintained for a select group of management or highly compensated employees pursuant to Sections 201(2), 301(a)(3), and 401(a)(1) of ERISA, and an
unfunded plan of deferred compensation under the Code. 
 1.3 Interpretation. 
 Throughout the Plan, certain words and phrases have meanings, which are specifically defined for purposes of the Plan. These words and phrases can be
identified in that the first letter of the word or words in the phrase is capitalized. The definitions of these words and phrases are set forth in Article II and elsewhere in the Plan document. Wherever appropriate, pronouns of any gender shall be
deemed synonymous, as shall singular and plural pronouns. Headings of Articles and Sections are for convenience or reference only, and are not to be considered in the construction or interpretation of the Plan. The Plan shall be interpreted and
administered to give effect to its purpose in Section 1.2 and to qualify as a nonqualified, unfunded plan of deferred compensation. In addition, the Plan is designed to provide a benefit that is not “contingent”, as such term is
defined and applied in Treasury Regulation Section 401(k)-1(e)(6), upon a Participant’s making elective contributions to the Qualified Retirement Plan. Both the form and the operation of the Plan shall be interpreted to assure compliance
with such Regulation, or its successor, as amended from time to time. 
 ARTICLE II—DEFINITIONS 
 2.1 Generally. 
 Certain words and phrases are
defined when first used in later paragraphs of this Agreement. Unless the context clearly indicates otherwise, the following words and phrases when used in this Agreement shall have the following respective meanings: 
 2.2 Account. 
 “Account” shall mean
the interest of a Participant in the Plan as represented by the hypothetical bookkeeping entries kept by the Employer for each Participant. Each Participant’s 

  

 2 

 
interest may be divided into one or more separate accounts or sub-accounts, including the Participant Deferral Account and the Matching Contribution Account,
which reflect not only the Contributions into the Plan, but also gains and losses, and income and expenses allocated thereto, as well as distributions or any other withdrawals. The value of these accounts or sub-accounts shall be determined as of
the Valuation Date. The existence of an account or bookkeeping entries for a Participant (or his Designated Beneficiary) does not create, suggest or imply that a Participant, Designated Beneficiary, or other person claiming through them under this
Plan, has a beneficial interest in any asset of the Employer. 
 2.3 Agreement. 
 “Agreement” shall mean this agreement, together with any and all amendments or restatements thereto. 
 2.4 Balance. 
 “Balance” shall mean
the total of Contributions and Deemed Earnings credited to a Participant’s Account under Article V, as adjusted for distributions or other withdrawals in accordance with the terms of this Plan and the standard bookkeeping rules established by
the Employer. 
 2.5 Board Committee. 
 “Board Committee” shall mean the Compensation Committee of the Employer’s Board of Directors, or such other Committee of the Board as may be delegated with the duty of determining Participant eligibility under the Plan.

 2.6 Board of Directors. 
 “Board of Directors” or “Board” shall mean the Board of Directors of Host Hotels & Resorts, Inc., a Delaware corporation and the General Partner of Host Hotels & Resorts, L.P. 
 2.7 Change of Control. 
 “Change of
Control” shall mean the occurrence of a “change in the ownership,” a “change in the effective control” or a “change in the ownership of a substantial portion of the assets” of the Employer, as determined in
accordance with this Section. In determining whether an event shall be considered a “change in the ownership,” a “change in the effective control” or a “change in the ownership of a substantial portion of the assets” of
the Employer, the following provisions shall apply: 
 (a) A “change in the ownership” of the Employer shall occur on the date on
which any one person, or more than one person acting as a group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (a “Person”)), acquires ownership of the equity securities of the
Employer that, together with the equity securities held by such Person, constitutes more than 50% of the total fair market value or total voting power of the Employer, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(v). If a Person
is considered either to own more than 50% of the total fair market value or total voting power of the equity securities of the Employer, or to have effective control of the Employer within the meaning of Section 2.7(b), and such Person acquires
additional equity securities of the Employer, the acquisition of additional equity securities by such Person shall not be considered to cause a “change in the ownership” of the Employer. 
  

 3 

 (b) A “change in effective control” of the Employer shall occur on either of the following
dates: 
  

	 	(i)	The date on which any Person, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person) ownership of equity securities
of the Employer possessing 30% or more of the total voting power of the Employer’s equity securities, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vi). If a Person is considered to possess 30% or more of the total voting
power of the Employer’s equity securities, and such Person acquires additional equity securities of the Employer, the acquisition of additional equity securities by such Person shall not be considered to cause a “change in the effective
control” of the Employer; or 

  

	 	(ii)	The date on which a majority of the members of the Board of Directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority
of the members of the Board of Directors before the date of the appointment or election, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vi). 

 (c) A “change in the ownership of a substantial portion of the assets” of the Employer shall occur on the date on which any one Person acquires
(or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person) assets from the Employer that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of
the assets of the Employer immediately before such acquisition or acquisitions, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vii). A transfer of assets shall not be treated as a “change in the ownership of a substantial
portion of the assets” when such transfer is made to an entity that is controlled by the holders of the Employer’s equity securities, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vii)(B). 
 (d) Notwithstanding the foregoing, the following acquisitions shall not constitute a Change in Control: (i) an acquisition by the Employer or entity
controlled by the Employer, or (ii) an acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Employer or any entity controlled by the Employer. 
  

 4 

 2.8 Code. 
 “Code” shall mean the Internal Revenue Code of 1986 and the regulations issued thereunder, as amended from time to time. 
 2.9 Committee. 
 “Committee” shall mean the person or persons described in Article VIII who are charged with
the day-to-day administration and operation of the Plan. 
 2.10 Compensation. 
 “Compensation” shall mean the base or regular cash salary payable to an Employee by the Employer, as well as cash incentives or cash bonuses
payable to an Employee by the Employer, and cash commissions payable to an Employee by the Employer, including any such amounts which are not includible in the Participant’s gross income under Sections 125, 401(k), 402(h) or 403(b) of the
Internal Revenue Code of 1986, as amended. 
 2.11 Contributions. 
 “Contributions” shall mean the total of Participant Deferrals and Matching Contributions pursuant to Article IV, which represent each Participant’s credits to his Account. 
 2.12 Deemed Earnings. 
 “Deemed
Earnings” shall mean the gains and losses (realized and unrealized), and income and expenses credited or debited to Contributions based upon the Deemed Crediting Options in a Participant’s Account as of any Valuation Date. 
 2.13 Deemed Crediting Options. 
 “Deemed
Crediting Options” shall mean the hypothetical options made available to Plan Participants by the Employer for the purposes of determining the proper crediting of gains and losses, and income and expenses to each Participant’s Account,
subject to procedures and requirements established by the Committee. A Participant may reallocate his Account among such Deemed Crediting Options periodically at such frequency and upon such terms as the Committee may determine from time to time.

 2.14 Deferral Election Form. 
 “Deferral Election Form” or “Annual Deferral Election Form” shall mean that written agreement of a Participant, which among other information the Committee may require of the Participant for proper administration of the
Plan, shall establish the Participant’s election to defer Compensation for a Plan Year under the Plan, the amount of the deferral into the Plan for the Plan Year, the Participant’s election as to the distribution of his Account as an
In-Service Distribution, and the allocation of his Accounts among the Deemed Crediting Options provided under the Plan. The Deferral Election Form shall be in such form or forms as may be prescribed by the Committee, and filed annually with the
Employer according to procedures and at such times as set forth in this Plan and as established by the Committee. 
  

 5 

 2.15 Designated Beneficiary. 
 “Designated Beneficiary” or “Beneficiary” shall mean the person, persons or trust specifically named to be a direct or contingent recipient of all or a portion of a Participant’s benefits
under the Plan in the event of the Participant’s death prior to the distribution of his full Account Balance. Such designation of a recipient or recipients may be made and amended, at the Participant’s discretion, on the Distribution
Election Form and according to procedures established by the Committee. No beneficiary designation or change of Beneficiary shall become effective until received and acknowledged by the Employer. In the event a Participant does not have a
beneficiary properly designated, the beneficiary under this Plan shall be the Participant’s estate. 
 2.16 Disability or Disabled.

 “Disability” or “Disabled” shall mean that the Participant either: (a) has been determined to be entitled to
benefits under a disability insurance program that complies with the requirements of Treas. Reg. §1.409A-3(i)(4), or (b) if he is not a participant in such long-term disability insurance program, has been determined to be totally disabled
by the Social Security Administration. 
 2.17 Distribution Election Form. 
 “Distribution Election Form” shall mean that written agreement of a Participant, which among other information the Committee may require of the
Participant for proper administration of the Plan, shall establish the Participant’s elections as to the form of distribution of his Account upon a Separation from Service and timing of distribution upon death or Disability, and the name of the
Designated Beneficiary. The Distribution Election Form shall be in such form or forms as may be prescribed by the Committee and filed with the Employer in accordance with Section 4.2, according to procedures and at such times as set forth in
this Plan and as established by the Committee. 
 2.18 Effective Date. 
 “Effective Date” of the Plan, as amended and restated, shall mean January 1, 2008. 
 2.19 Eligible Employee. 
 “Eligible
Employee” shall mean a person who (for any Plan Year or portion thereof) is: (1) an Employee of the Employer; (2) subject to US income tax laws; (3) a member of a select group of management or a highly compensated employee of the
Employer; and (4) an executive having a title of Executive or Senior Vice President or higher with Compensation in excess of $210,000 annually, which such amount may be adjusted from time to time by the Committee to reflect cost of living
increases. 
  

 6 

 2.20 Employee. 
 “Employee” shall mean a full time common law employee of the Employer. 
 2.21 Employer. 

“Employer” shall mean Host Hotels & Resorts, L.P. and Host Hotels & Resorts, Inc., and any corporate successors and
assigns, unless otherwise provided herein. 
 2.22 ERISA. 
 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time. 
 2.23
In-Service Distribution. 
 “In-Service Distribution” shall mean a distribution of a portion of a Participant’s
Account in accordance with Section 7.3. 
 2.24 Matching Contribution. 
 “Matching Contribution” shall mean an amount credited to a Participant’s Account in accordance with Section 4.6. 
 2.25 Matching Contribution Account. 
 “Matching Contribution Account” shall mean that portion of a Participant’s Account established to record Matching Contributions on behalf of a Participant. 
 2.26 Participant. 
 “Participant” shall mean an Eligible Employee who participates in
the Plan under Article III; a former Eligible Employee who has participated in the Plan and continues to be entitled to a benefit (in the form of an undistributed Account Balance) under the Plan, and any Eligible Employee who has participated in the
Plan under Article III and is out on a leave of absence and has not yet had a Separation from Service. 
 2.27 Participant Deferral.

 “Participant Deferral” shall mean voluntary Participant deferral amounts, which could have been received currently but for
the election to defer and are credited to his Account for later distribution, subject to the terms of the Plan. 
 2.28 Participant Deferral
Account. 
 “Participant Deferral Account” shall mean that portion of a Participant’s Account established to record
Participant Deferrals on behalf of a Participant. 
  

 7 

 2.29 Plan Year. 
 “Plan Year” shall mean the twelve (12) consecutive month period constituting a calendar year, beginning on January 1 and ending on December 31. 
 2.30 Qualified Retirement Plan. 
 “Qualified Retirement Plan” shall mean the Retirement and Savings Plan sponsored by the Employer. 
 2.31 Separation from
Service. 
 “Separation from Service” shall mean the termination of Participant’s services to the Employer, other than
due to death or Disability, in accordance with Treas. Reg. §1.409A-1(h). A transfer of employment within and among the Employer and any member of a controlled group, as provided in Code Section 409A(d)(6), shall not be deemed a Separation
from Service. 
 2.32 Specified Employee. 
 “Specified Employee” shall have the meaning set forth in Code Section 409A(a)(2)(B)(i) and the regulations issued thereunder. 
 2.33 Unforeseeable Emergency. 
 “Unforeseeable Emergency” shall mean a severe financial hardship of the
Participant resulting from: 
 (a) an illness or accident of the Participant, the Participant’s spouse, the Participant’s
beneficiary or the Participant’s dependent (as defined in Code Section 152 without regard to paragraphs (b)(1), (b)(2) and (d)(1)(B) thereof), 
 (b) a loss of the Participant’s property due to casualty, 
 (c) imminent foreclosure on or eviction
from the Participant’s primary residence, 
 (d) the need to pay for medical expenses, including non-refundable deductibles and the
costs of prescription drug medications, 
 (e) the need to pay for the funeral expenses of the Participant’s spouse, beneficiary, or
dependent (as defined above), or 
 (f) such other similar extraordinary and unforeseeable circumstances arising as a result of events beyond
the control of the Participant, all as determined by the Committee in accordance with Treas. Reg. Sec. 1.409A-3(i)(3). 
  

 8 

 2.34 Valuation Date. 
 “Valuation Date” shall mean the close of each business day, as established and amended from time to time by guidelines and procedures of the Committee in its sole and exclusive discretion. 
 ARTICLE III—ELIGIBILITY AND PARTICIPATION 
 3.1 Eligibility Requirements. 
 The Board Committee shall notify an Eligible Employee of his eligibility to
participate in the Plan for a Plan Year in such form as it may determine most appropriate. Only an Eligible Employee may become a Participant in this Plan. Current Participants remain eligible until notified otherwise, provided that a Participant
shall not be permitted to make new Participant Deferrals to the Plan for any Plan Year following the year in which he ceases to be an Eligible Employee for any reason (unless he again becomes an Eligible Employee, is notified of his eligibility to
participate and meets the requirements of Section 3.2). If a Participant ceases to be an Eligible Employee other than as a result of death, Disability or Separation from Service, then his Accounts will remain in and continue to be subject to
the provisions of the Plan. 
 3.2 Participation. 
 An Eligible Employee shall become a Participant in the Plan by the completion and timely filing with and subsequent acceptance by, the Employer of the Deferral Election Form, in such form and according to the terms
and conditions established by the Committee. A Participant (or any Designated Beneficiary who becomes entitled) remains a Participant as to his Account until his Account Balance is fully distributed under the terms of the Plan. 
 ARTICLE IV—ELECTIONS, DEFERRALS & MATCHING CONTRIBUTIONS 
 4.1 Participant Election to Defer Compensation. 
 (a) No later than December 31, or an
earlier date set by the Committee, a Participant may elect to defer Compensation for services to be performed in the next following Plan Year by the execution and timely filing, and Employer’s acceptance of, a Deferral Election Form in such
form and according to such procedures as the Committee may prescribe from time to time. Each such Deferral Election Form shall be effective for the Plan Year to which the Deferral Election Form pertains. However, no Deferral Election Form shall be
accepted unless a Participant has first elected as of January 1 of the applicable Plan Year to defer the maximum amount of Compensation permitted by Code Sections 401(k), 402(g), and 415 under the Qualified Retirement Plan. 
  

 9 

 (b) Each Participant may elect annually to have his Compensation for the Plan Year reduced by a stated
amount or a whole but not more than one hundred percent (100%). The amount deferred under the Plan shall be only the amount of such elected deferral that is in excess of the sum of (i) the amount that the Participant has elected to defer into
the Qualified Retirement Plan as of January 1 of such Plan Year (regardless of any subsequent changes to such election during the Plan Year), (ii) the amount necessary for the Employer to satisfy any income and employment tax withholding
obligations with respect to such Participant for such Plan Year, and (iii) the contributions by the Participant to any other employee benefit plan of the Employer. The amount deferred shall be credited to the Participant’s Account as
provided in Article V. 
 (c) Under such Deferral Election Form, a Participant shall indicate the amount of the Participant Deferral and
allocate such Accounts among the various Deemed Crediting Options. The Deferral Election Form shall also permit a Participant to elect to receive the amounts deferred in such Plan Year as an In-Service Distribution, in accordance with
Section 7.3. The Deferral Election Form may also request other information as may be required or useful for the administration of the Plan. 
 4.2
Distribution Elections. 
 Each Participant shall file one Distribution Election Form with respect to the form of his benefit
payment upon a Separation from Service and timing of his benefit payment upon death or Disability with respect to all amounts deferred on his behalf under the Plan, in accordance with Section 7.2(c). Such Distribution Election Form must be
filed at the same time and in the same manner as the Participant’s initial Deferral Election Form filed pursuant to either Section 4.1 or 4.3. A Participant may not change or modify his Distribution Election Form after it has become
irrevocable. 
 4.3 New Participants and Partial Years. 
 The initial Deferral Election Form and Distribution Election Form of a new Participant (who does not participate in and has not for 24 months participated in any other nonqualified deferred compensation account
balance plan that must be aggregated with the Plan pursuant to Code Section 409A) shall be filed with the Employer on a date established by the Committee, but in any event not later than 30 days following the date the Participant becomes
eligible to participate in the Plan and only with respect to services to be performed subsequent to the election. Such first Deferral Election Form shall be applicable to a Participant’s Compensation beginning with the first payroll in the
month after such Form is filed and accepted by the Employer. If a Participant fails to make a Deferral Election within 30 days of initial eligibility to participate, then such Participant may make a Deferral Election and Distribution Election only
with respect to Compensation earned in subsequent calendar years, in accordance with Sections 4.1 and 4.2. 
 4.4 Irrevocable Elections.

 Once filed, a Deferral Election Form shall be irrevocable as of December 31
st of the year prior to which the election applies. A Distribution Election Form shall become irrevocable as of the December 31st of the year prior to the year the Participant’s initial Deferral Election Form is 

  

 10 

 
applicable. Notwithstanding the foregoing, an initial Deferral Election Form and Distribution Election Form filed pursuant to Section 4.3 shall be
irrevocable as of the date filed. Notwithstanding the foregoing, a Deferral Election Form shall automatically terminate upon the Participant’s Separation from Service and pursuant to Section 7.4. 
 4.5 Unclear Elections. 
 In any situation in
which the Committee is unable to determine the method of payment because of incomplete, unclear, or uncertain instructions in a Participant’s Deferral Election Form or Distribution Election Form, or if no such form is on file with respect to a
Participant, then the Participant will be deemed to have elected a lump sum distribution within ninety (90) days following the date of his Separation from Service, death or Disability. 
 4.6 Matching Contributions. 
 The Employer
shall accrue as a Matching Contribution in a Participant’s Account an amount equal to $.50 for each $1.00 deferred under the Plan, up to a maximum of six percent (6%) of Compensation, less the amount of Employer matching contributions
credited to the Participant’s account in the Qualified Retirement Plan. The Committee, in its sole discretion, from time to time may make an additional discretionary Matching Contribution. 
 ARTICLE V—ACCOUNTS AND ACCOUNT CREDITING 
 5.1 Establishment of a Participant’s Account. 
 (a) Bookkeeping Account. The Committee shall cause a
bookkeeping Account and appropriate sub-accounts to be established and maintained in the name of each Participant, according to his annual Deferral Election Form for the Plan Year. This Account shall reflect the amount of Participant Deferrals,
Matching Contributions and Deemed Earnings credited on behalf of each Participant under this Plan. 
 (b) Bookkeeping Activity.
Participant Deferrals shall be credited to a Participant’s Account on the business day they would otherwise have been made available as cash to the Participant. Matching Contributions shall be credited to a Participant’s Account on the
Valuation Date the Employer designates. Deemed Earnings shall be credited or debited to each Participant’s Account, as well as any distributions and any other withdrawals under this Plan, as of a Valuation Date. Accounts shall continue on each
Valuation Date until the Participant’s Account is fully distributed under the terms of the Plan. 
 5.2 Deemed Crediting Options.

 The Committee shall establish a portfolio of two or more Deemed Crediting Options, among which a Participant may allocate amounts
credited to his Account, which are subject to Participant direction under this Plan. The Committee reserves the right, in its sole and exclusive discretion, to substitute, eliminate and otherwise change this portfolio of Deemed Crediting Options, as
well as the right to establish rules and procedures for the selection and offering of these Deemed Crediting Options. 
  

 11 

 5.3 Allocation Of Account Among Deemed Crediting Options. 
 (a) Each Participant shall elect the manner in which his Account is divided among the Deemed Crediting Options by giving allocation instructions in a
Deferral Election Form supplied by and filed with the Committee; or by such other procedure, including electronic communications, as the Committee may prescribe. A Participant’s election shall specify the percentage of his Account (in any whole
percentage) to be deemed to be invested in any Deemed Crediting Option. Such election shall remain in effect until a new election is made. 
 (b) Amounts credited to a Participant’s Account shall be deemed to be invested in accordance with the most recent effective Deemed Crediting Option election. As of the effective date of any new Deemed Crediting Option election, all or
a portion of the Participant’s Account shall be reallocated among the designated Deemed Crediting Options and according to the percentages specified in the new instructions, until and unless subsequent instructions shall be filed and become
effective. If the Committee receives a Deemed Crediting Option election, which is unclear, incomplete or improper, the Deemed Crediting Option election then in effect shall remain in effect until the subsequent instruction is clarified, completed or
otherwise made acceptable to the Committee. 
 5.4 Valuation and Risk of Decrease in Value. 
 The Participant’s Account will be valued on the Valuation Date at fair market value. On such date, Deemed Earnings will be allocated to each
Participant’s Account. Each Participant and Designated Beneficiary assumes the risk in connection with any decrease in the fair market value of his Account. 
 5.5 Limited Function of Committee. 
 By deferring compensation pursuant to the Plan, each Participant hereby agrees
that the Employer and Committee are in no way responsible for or guarantor of the investment results of the Participant’s Account. The Committee shall have no duty to review, or to advise the Participant on, the investment of the
Participant’s Account; and in fact, shall not review or advise the Participant thereon. Furthermore, the Committee shall have no power to direct the investment of the Participant’s Account other than promptly to carry out the
Participant’s deemed investment instructions when properly completed and transmitted to the Committee and accepted according to its rules and procedures. 
 ARTICLE VI—VESTING 
 6.1 Vesting of Participant Deferrals. 
 A Participant shall be fully vested at all times in Participant Deferrals, as well as Deemed Earnings upon Participant Deferrals, credited to his
Participant Deferral Account. 
  

 12 

 6.2 Vesting of Matching Contributions. 
 A Participant shall vest ratably in Matching Contributions, as well as Deemed Earnings upon Matching Contributions, credited to his Matching Contribution
Account in accordance with the vesting schedule of the Qualified Retirement Plan. Vesting credit for Years of Service shall be determined in accordance with the methods used by the Qualified Retirement Plan. 
 Notwithstanding the above schedule, a Participant shall become fully vested in his Matching Contribution Account upon death, Disability or a Change of
Control. Upon Separation from Service, a Participant shall be entitled to the vested portion of his Matching Contribution Account, and any non-vested portion shall be forfeited. 
 ARTICLE VII—DISTRIBUTIONS 
 7.1 Distributions Generally. 

A Participant’s Account shall be distributed only in accordance with the provisions of this Article VII. All distributions from Accounts under the
Plan shall be made in currency of the United States of America. 
 7.2 Automatic Distributions. 
 (a) Participant’s Death. If the Participant dies while employed by the Employer,
his Account shall be valued as of the Valuation Date next following his date of death and shall be distributed in a lump sum to his Designated Beneficiary either within ninety (90) days following the date of death or on
January 15th of the calendar year following the year in which occurs the date of death, in accordance with his Distribution Election.

 (b) Participant’s Disability. If a Participant becomes Disabled
while employed by the Employer, his Account shall be valued as of the Valuation Date next following his date of Disability and shall be distributed in a lump sum either within ninety (90) days following the date of Disability or on
January 15th of the calendar year following the year in which occurs the date of Disability, in accordance with his Distribution Election.

 (c) Separation from Service. If a Participant incurs a Separation from Service, his vested Account shall be valued as of the
Valuation Date next following his Separation from Service and shall be distributed in lump sum or in up to ten (10) annual installments to him commencing within ninety (90) days following his Separation from Service, in accordance with his
Distribution Election; provided, however, that the Account of a Specified Employee shall commence distribution on the first business day of the seventh month following his Separation from Service, valued as of the Valuation Date immediately
preceding the distribution date. 
 In any distribution in which a Participant has elected or will receive distribution in periodic
installments, the amount of each periodic installment shall be determined by applying a formula to the Account in which the numerator is the number one and the denominator is the number of remaining installments to be paid. For example, if a
Participant elects 10 annual 

  

 13 

 
installments for a Separation from Service distribution, the first payment will be  1/10 of the Account, the second will be  1/9, the third will be  1/8; the fourth will be  1/7 and so on until the Account is entirely distributed. 
 (d) Change in
Control. Within thirty (30) days following a Change in Control, each Participant shall be paid all vested amounts in his Account in a single lump sum. A Participant’s Account shall be valued as of the effective date of the Change in
Control. 
 7.3 In-Service Distributions. 
 If a Participant so elects in his Deferral Election Form for a Plan Year, he can receive an In-Service Distribution from his Account as soon as three (3) years after the end of the deferral Plan Year of all of his annual deferral
amount with respect to such Plan Year, plus Deemed Earnings thereon, but such distribution shall not include any Matching Contribution or Deemed Earnings on such Matching Contributions. An In-Service Distribution will be made as a single lump-sum
payment within ninety (90) days after the distribution date specified in the Deferral Election Form. A Participant’s Account shall be valued as of such distribution date elected on the Deferral Election Form. 
 7.4 Distributions Resulting from Unforeseeable Emergency. 
 A Participant may request that all or a portion of his Account be distributed at any time prior to Separation from Service (or an In-Service Distribution elected by the Participant) by submitting a written request to
the Committee, provided that (i) the Participant has incurred an Unforeseeable Emergency, (ii) the distribution is necessary to alleviate such Unforeseeable Emergency, and (iii) the need with respect to an Unforeseeable Emergency
cannot be relieved through reimbursement or compensation from insurance or otherwise, by liquidation of the Participant’s assets (to the extent the liquidation of such assets would not cause severe financial hardship) or by cessation of
deferrals under the Plan. The Committee shall determine in its sole and exclusive discretion whether or not (i) a Participant has an Unforeseeable Emergency, (ii) to make a distribution due to Unforeseeable Emergency, and (iii) to
make any other determinations under this Section 7.4. 
 Such distribution shall be limited to an amount reasonably necessary to satisfy
such Unforeseeable Emergency, (which may include amounts necessary to pay taxes or penalties reasonably anticipated as a result of the distribution), after taking into account cancellation of a Deferral Election. Such distribution shall be made as
soon as administratively practicable. The Balance not distributed from the Participant’s Account shall remain in the Plan. Such distributions will be made in compliance with Code Section 409A. If a Participant receives a distribution under
this Section, his Deferral Election shall automatically terminate as soon as administratively practicable. Such Participant, if eligible to participate in the Plan pursuant to Article III, may make a Deferral Election for a subsequent Plan Year in
accordance with Article IV. 
 7.5 Distributions of Small Accounts. 
 Notwithstanding any election to the contrary, if at any time the value of the Participant’s Account (and any other nonqualified deferred compensation
benefit that must be aggregated with 

  

 14 

 
the Plan pursuant to Treas. Reg. Section 1.409A-1(c)(2)) does not exceed the limit in effect under Code Section 402(g)(1)(B) ($15,500 in 2008),
then the Committee may require, in its discretion, that the entire Account be distributed in the form of a single lump sum. If the value of a Participant’s Account is zero upon the Valuation Date of any distribution, the Participant shall be
deemed to have received a distribution of such Account and his participation in the Plan shall terminate. Notwithstanding the foregoing, no distribution will be made to the extent such distribution would violate the requirements of Code
Section 409A and its underlying regulations. 
 ARTICLE VIII—ADMINISTRATION AND CLAIMS PROCEDURE 
 8.1 Duties of the Employer. 
 The Employer
shall have overall responsibility for the establishment, amendment, termination, administration, and operation of the Plan. The Employer shall discharge this responsibility by the appointment and removal (with or without cause) of the members of the
Committee, to which is delegated overall responsibility for administering, managing and operating the Plan. 
 8.2 The Committee. 

The Committee shall consist of one or more members who shall be appointed by, and may be removed by, the Employer, and one of whom (who must be an
officer of the Employer) shall be designated by the Employer as Chairman of the Committee. In the absence of such appointment, the Employer shall serve as the Committee. The Committee shall consist of officers or other Employees of the Employer, or
any other persons who shall serve at the request of the Employer. Any member of the Committee may resign by delivering a written resignation to the Employer and to the Committee, and this resignation shall become effective upon the date specified
therein. The members of the Committee shall serve at the will of the Employer, and the Employer may from time to time remove any Committee member with or without cause and appoint their successors. In the event of a vacancy in membership, the
remaining members shall constitute the Committee with full order to act. 
 8.3 Committee’s Powers and Duties to Enforce Plan. 

The Committee shall be the “Administrator” and “Named Fiduciary” only to the extent required by ERISA for top-hat plans and shall
have the complete control and authority to enforce the Plan on behalf of any and all persons having or claiming any interest in the Plan in accordance with its terms. The Committee, in its sole and absolute discretion, shall interpret the Plan and
shall determine all questions arising in the administration and application of the Plan, including the ability to remedy any ambiguities and inconsistencies in the Plan. Any such interpretation by the Committee shall be final, conclusive and binding
on all persons. 
 8.4 Organization of the Committee. 
 The Committee shall act by a majority of its members at the time in office. Committee action may be taken either by a vote at a meeting or by written consent without a meeting. The Committee may authorize any one or
more of its members to execute any document or documents on behalf of the Committee. The Committee shall notify the Employer, in writing, of 

  

 15 

 
such authorization and the name or names of its member or members so designated in such cases. The Employer thereafter shall accept and rely on any documents
executed by said member of the Committee or members as representing action by the Committee until the Committee shall file with the Employer a written revocation of such designation. The Committee may adopt such by-laws and regulations, as it deems
desirable for the proper conduct of the Plan and to change or amend these by-laws and regulations from time to time. With the permission of the Employer, the Committee may employ and appropriately compensate accountants, legal counsel, benefit
specialists, actuaries, plan administrators and record keepers and any other persons as it deems necessary or desirable in connection with the administration and maintenance of the Plan. Such professionals and advisors shall not be considered
members of the Committee for any purpose. 
 8.5 Limitation of Liability. 
 (a) No member of the Board of Directors, the Employer and no officer or Employee of the Employer shall be liable to any Employee, Participant, Designated
Beneficiary or any other person for any action taken or act of omission in connection with the administration or operation of this Plan unless attributable to his own fraud or willful misconduct. Nor shall the Employer be liable to any Employee,
Participant, Designated Beneficiary or any other person for any such action taken or act of omission unless attributable to fraud, gross negligence or willful misconduct on the part of a Director, officer or Employee of the Employer. Moreover, each
Participant, Designated Beneficiary, and any other person claiming a right to payment under the Plan shall only be entitled to look to the Employer for payment, and shall not have the right, claim or demand against the Committee (or any member
thereof), any Director, Officer or Employee of the Employer. 
 (b) To the fullest extent permitted by the law and subject to the
Employer’s Certificate of Incorporation and By-laws, the Employer shall indemnify the Committee, each of its members, and the Employer’s officers and Directors (and any Employee involved in carrying out the functions of the Employer under
the Plan) for part or all expenses, costs, or liabilities arising out of the performance of duties required by the terms of the Plan agreement, except for those expenses, costs, or liabilities arising out of a member’s fraud, willful misconduct
or gross negligence. 
 8.6 Committee Reliance on Records and Reports. 
 The Committee shall be entitled to rely upon certificates, reports, and opinions provided by an accountant, tax or pension advisor, actuary or legal
counsel employed by the Employer or Committee. The Committee shall keep a record of all its proceedings and acts, and shall keep all such books of account, records, and other data as may be necessary for the proper administration of the Plan. The
regularly kept records of the Committee and the Employer shall be conclusive evidence of the service of a Participant, Compensation, age, marital status, status as an Employee, and all other matters contained therein and relevant to this Plan. The
Committee, in any of its dealings with Participants hereunder, may conclusively rely on any Deferral Election Form, Distribution Election Form, written statement, representation, or documents made or provided by such Participants. 
  

 16 

 8.7 Costs of the Plan. 
 All the costs and expenses for maintaining the administration and operation of the Plan shall be borne by the Employer unless the Employer shall give notice (that Plan Participants bear this expense, in whole or in
part) to: (a) Eligible Participants at the time they become a Participant by completion and filing of a Deferral Election Form; or (b) to existing Participants during annual re-enrollment. Such notice shall detail the administrative
expense to be assessed a Plan Participant, how that expense will be assessed and allocated to the Participant Accounts, and any other important information concerning the imposition of this administrative expense. This administration charge, if any,
shall operate as a reduction to the bookkeeping Account of a Participant or his designated Beneficiary, and in the absence of specification otherwise shall reduce the Account, and be charged annually during the month of January. 
 8.8 Claims Procedure. 
 (a)
Claim. Benefits shall be paid in accordance with the terms of this Plan. A Participant, Designated Beneficiary or any person who believes that he is being denied a benefit to which he is entitled under the Plan (hereinafter referred to
as a “Claimant”) may file a written request for such benefit with the Employer, setting forth his claim. The request must be addressed to the Committee care of Secretary of Host Hotels & Resorts, Inc. (the “Secretary”)
at its then principal place of business. 
 (b) Claim Decision. Upon the receipt of a claim, the Committee shall advise the
Claimant that a reply will be forthcoming within ninety (90) days and shall, in fact, deliver such reply within such period. However, the Committee may extend the reply period for an additional ninety (90) days for reasonable cause;
provided that the Committee notify the Claimant of such extension. If such extension is required, written notice shall be furnished to the Claimant within 90 days of the date the claim was filed stating the reasons requiring an extension and the
date by which a decision on the claim can be expected which shall be no more than 180 days from the date the claim was filed. If the claim is denied in whole or in part, the Committee shall adopt a written opinion, using language calculated to be
understood by the Claimant, setting forth: 
  

	 	(i)	The specific reason or reasons for such denial; 

  

	 	(ii)	The specific reference to pertinent provisions of this Plan on which such denial is based; 

  

	 	(iii)	A description of any additional material or information necessary for the Claimant to perfect his claim and an explanation why such material or such information is necessary;

  

	 	(iv)	Appropriate information as to the steps to be taken if the Claimant wishes to submit the claim for review; 

  

	 	(v)	The time limits for requesting a review under Subsection C and for review under Subsection D hereof; and 

  

 17 

	 	(vi)	A statement of the Claimant’s right to bring a civil action under Section 502(a) of ERISA following an adverse decision upon review. 

 (c) Request for Review. Within sixty (60) days after the receipt by the Claimant of the written opinion described above, the Claimant
may request in writing that the Secretary of the Employer review the determination of the Committee. Such request must be addressed to the Secretary of the Employer, at its then principal place of business. The Claimant or his duly authorized
representative may, but need not, review the pertinent documents and submit issues and comments in writing for consideration by the Employer. The Claimant may also review and/or copy free of charge pertinent Plan documents, records and other
information relevant to the claim. If the Claimant does not request a review of the Committee’s determination by the Secretary within such sixty (60) day period, he shall be barred and estopped from challenging the Committee’s
determination. 
 (d) Review of Decision. Within sixty (60) days after the Secretary’s receipt of a request for
review, he will review the Committee’s determination. After considering all materials presented by the Claimant, the Secretary will render a written opinion, written in a manner calculated to be understood by the Claimant, setting forth the
specific reasons for the decision and containing specific references to the pertinent provisions of this Agreement on which the decision is based. If the Claim is denied, such response will contain a statement that the Claimant is entitled upon
request to receive free of charge reasonable access to and copies of all documents, records and other information relevant to Claimant’s claim and of Claimant’s right to bring an action under Section 502(a) of ERISA. If special
circumstances require that the sixty (60) day time period be extended, the Secretary will so notify the Claimant and will render the decision as soon as possible, but no later than one hundred twenty (120) days after receipt of the request
for review. The decision of the Secretary shall be conclusive, final and binding in all respects on all parties, including the Employer and the Claimant. Benefits shall be paid only if the Secretary determines that the Claimant is entitled to them.

 8.9 Litigation. 
 In the event
of any dispute of benefits under this Plan, all remedies available to the Claimant under Section 8.8 must be exhausted before legal recourse of any type may be sought, and any such action must be brought within 90 days of the Secretary’s
final determination under Section 8.8. It shall not be necessary to join the Employer as a party in any action or judicial proceeding affecting the Plan. No Participant or Designated Beneficiary or any other person claiming under the Plan shall
be entitled to service of process or notice of such action or proceeding, except as may be expressly required by law. Any final judgment in such action or proceeding shall be binding on all Claimants. 
 ARTICLE IX—AMENDMENT, TERMINATION & REORGANIZATION 
 9.1 Amendment. 
 The Board of Directors, or a duly authorized committee thereof, in accordance
with its by-laws, reserves the right to amend the Plan. However, no amendment to the Plan shall be effective to the extent that it has the effect of decreasing a Participant’s (or Designated Beneficiary’s) accrued benefit prior to the date
of the amendment. 
  

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 9.2 Amendment Required By Law. 
 Notwithstanding Section 9.1, the Plan may be amended at any time, if in the opinion of the Employer, such amendment is necessary to ensure the Plan
is treated as a nonqualified plan of deferred compensation under the Code and ERISA, or to bring it into conformance with Treasury or SEC regulations or requirements for such plans. This includes the right to amend this Plan so that any Trust
created in conjunction with this Plan will be treated as a grantor Trust under Sections 671 through 679 of the Code, and to otherwise conform the Plan provisions and such Trust, if applicable, to the requirements of any applicable law. Additionally,
if and to the extent the Employer shall determine that the terms of the Plan may result in the failure of the Plan, or amounts deferred by or for any Participant under the Plan, to comply with the requirements of Section 409A of the Code or any
applicable regulations or guidance promulgated by the Secretary of the Treasury in connection therewith, the Employer shall have authority to take such action to amend, modify, cancel or terminate the Plan as it deems necessary or advisable,
including without limitation any amendment or modification of the Plan to conform the Plan to the requirements of Section 409A of the Code or any regulations or other guidance thereunder (including, without limitation, any amendment or
modification of the terms of any applicable to any Participant’s Accounts regarding the timing or form of payment). 
 Any other
provision of the Plan to the contrary notwithstanding, in the event that the Internal Revenue Service prevails in its claims that amounts contributed to the Plan, and/or earnings thereon, constitute taxable income to the Participant or his
Designated Beneficiary for any taxable year of his, prior to the taxable year in which such contributions and/or earnings are distributed to the Participant or Beneficiary, or in the event that legal counsel satisfactory to the Employer, the trustee
and the applicable Participant or Beneficiary renders an opinion that the Internal Revenue Service would likely prevail in such a claim, the amount subject to such income tax shall be immediately distributed to the Participant or Beneficiary.

 Any such amendment, modification, cancellation, or termination of the Plan may adversely affect the rights of a Participant without the
Participant’s consent. 
 9.3 Termination. 
 The Employer intends to continue the Plan indefinitely. However, the Board of Directors or a duly authorized committee thereof, in accordance with its by-laws, reserves the right to terminate the Plan at any time.
However, no such termination shall deprive any Participant or Designated Beneficiary of a right accrued under the Plan prior to the date of termination. 
 In the event of a Plan termination, the Employer shall distribute Accounts in accordance with the requirements of Treas. Reg. §1.409A-3(j)(4)(ix). 
 9.4 Consolidation/Merger. 
 The Employer shall not enter into any consolidation or merger
without the guarantee and assurance of the successor or surviving company or companies to the obligations contained under the Plan. Should such consolidation or merger occur, the term “Employer” as defined and used in this Agreement shall
refer to the successor or surviving company. 
  

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 ARTICLE X—GENERAL PROVISIONS 
 10.1 Applicable Law. 
 Except insofar as the
law has been superseded by Federal law, Maryland law shall govern the construction, validity and administration of this Plan as created by this Agreement. The parties to this Agreement intend that this Plan shall be a nonqualified unfunded plan of
deferred compensation without plan assets and any ambiguities in its construction shall be resolved in favor of an interpretation which will effect this intention. 
 10.2 Benefits Not Transferable or Assignable. 
 Benefits under the Plan shall not be subject to anticipation,
alienation, sale, transfer, assignment, pledge, encumbrance or charge and any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge such benefits shall be void, nor shall any such benefits be in any way liable for or
subject to the debts, contracts, liabilities, engagements or torts of any person entitled to them. However, a Participant may name a recipient for any benefits payable or which would become payable to a Participant upon his death. This Section shall
also apply to the creation, assignment or recognition of a right to any benefit payable with respect to a Participant pursuant to a domestic relations order, including a qualified domestic relations order under Section 414(p) of the Code. In
addition, the following actions shall not be treated or construed as an assignment or alienation: (a) Plan Contribution or distribution tax withholding; (b) recovery of distribution overpayments to a Participant or Designated Beneficiary;
(c) direct deposit of a distribution to a Participant’s or Designated Beneficiary’s banking institution account; or (d) transfer of Participant rights from one Plan to another Plan, if applicable. 
 The Employer may bring an action for a declaratory judgment if a Participant’s, Designated Beneficiary’s or any Beneficiary’s benefits
hereunder are attached by an order from any court. The Employer may seek such declaratory judgment in any court of competent jurisdiction to: 
  

	 	(i)	determine the proper recipient or recipients of the benefits to be paid under the Plan; 

  

	 	(ii)	protect the operation and consequences of the Plan for the Employer and all Participants; and 

  

	 	(iii)	request any other equitable relief the Employer in its sole and exclusive judgment may feel appropriate. 

 Benefits which may become payable during the pendency of such an action shall, at the sole discretion of the Employer, either be: 
  

	 	(iv)	paid into the court as they become payable or 

  

 20 

	 	(v)	held in the Participant’s or Designated Beneficiary’s Account subject to the court’s final distribution order. 

 10.3 Not an Employment Contract. 
 The Plan is
not and shall not be deemed to constitute a contract between the Employer and any Employee, or to be a consideration for, or an inducement to, or a condition of, the employment of any Employee. Nothing contained in the Plan shall give or be deemed
to give an Employee the right to remain in the employment of the Employer or to interfere with the right to be retained in the employ of the Employer, any legal or equitable right against the Employer, or to interfere with the right of the Employer
to discharge any Employee at any time. It is expressly understood by the parties hereto that this Agreement relates to the payment of deferred compensation for the Employee’s services, generally payable after separation from employment with the
Employer, and is not intended to be an employment contract. 
 10.4 Notices. 
 Any communication, benefit payment, statement of notice addressed to a Participant or Designated Beneficiary at the last post office address as shown on
the Employer’s records shall be binding on the Participant or Designated Beneficiary for all purposes of the Plan. The Employer shall not be obligated to search for any Participant or Designated Beneficiary beyond sending a registered letter to
such last known address. 
 10.5 Severability. 
 The Plan as contained in the provisions of this Agreement constitutes the entire Agreement between the parties. If any provision or provisions of the Plan shall for any reason be invalid or unenforceable, the
remaining provisions of the Plan shall be carried into effect, unless the effect thereof would be to materially alter or defeat the purposes of the Plan. All terms of the plan and all discretion granted hereunder shall be uniformly and consistently
applied to all the Employees, Participants and Designated Beneficiaries. 
 10.6 Participant is General Creditor with No Rights to Assets. 

 (a) The payments to the Participant or his Designated Beneficiary or any other beneficiary hereunder shall be made from assets which shall
continue, for all purposes, to be a part of the general, unrestricted assets of the Employer, no person shall have any interest in any such assets by virtue of the provisions of this Agreement. The Employer’s obligation hereunder shall be an
unfunded and unsecured promise to pay money in the future. To the extent that any person acquires a right to receive payments from the Employer under the provisions hereof, such right shall be no greater than the right of any unsecured general
creditor of the Employer; no such person shall have nor require any legal or equitable right, or claim in or to any property or assets of the Employer. The Employer shall not be obligated under any circumstances to fund obligations under this
Agreement. 
  

 21 

 (b) The Employer at its sole discretion and exclusive option, may acquire and/or set-aside assets or
funds, in a trust or otherwise, to support its financial obligations under this Plan. No such trust established for this purpose shall be established in or transferred to a location that would cause it to be deemed to be an “offshore
trust” for purposes of Code Section 409A (b)(1). No such acquisition or set-aside shall impair or derogate from the Employer’s direct obligation to a Participant or Designated Beneficiary under this Plan. However, no Participant or
Designated Beneficiary shall be entitled to receive duplicate payments of any Accounts provided under the Plan because of the existence of such assets or funds. 
 (c) In the event that, in its discretion, the Employer purchases an asset(s) or insurance policy or policies insuring the life of the Participant to allow the Employer to recover the cost of providing benefits, in
whole or in part hereunder, neither the Participant, Designated Beneficiary nor any other beneficiary shall have any rights whatsoever therein in such assets or in the proceeds therefrom. The Employer shall be the sole owner and beneficiary of any
such assets or insurance policy and shall possess and may exercise all incidents of ownership therein. No such asset or policy, policies or other property shall be held in any trust for the Participant or any other person nor as collateral security
for any obligation of the Employer hereunder. Nor shall any Participant’s participation in the acquisition of such assets or policy or policies be a representation to the Participant, Designated Beneficiary or any other beneficiary of any
beneficial interest or ownership in such assets, policy or policies. A Participant may be required to submit to medical examinations, supply such information and to execute such documents as may be required by an insurance carrier or carriers (to
whom the Employer may apply from time to time) as a precondition to participate in the Plan. 
 10.7 No Trust Relationship Created. 

Nothing contained in this Agreement shall be deemed to create a trust of any kind or create any fiduciary relationship between the Employer and the
Participant, Designated Beneficiary, other beneficiaries of the Participant, or any other person claiming through the Participant. Funds allocated hereunder shall continue for all purposes to be part of the general assets and funds of the Employer
and no person other than the Employer shall, by virtue of the provisions of this Plan, have any beneficial interest in such assets and funds. The creation of a grantor Trust (so called “Rabbi Trust”) under the Code (owned by and for the
benefit of the Employer) to hold such assets or funds for the administrative convenience of the Employer shall not give nor be a representation to a Participant, Designated Beneficiary, or any other person, of a property or beneficial ownership
interest in such Trust assets or funds even though the incidental advantages or benefits of the Trust to Plan Participants may be communicated to them. 
 10.8 Limitations on Liability of the Employer. 
 Neither the establishment of the Plan nor any modification hereof nor
the creation of any Account under the Plan nor the payment of any benefits under the Plan shall be construed as giving to any Participant or any other person any legal or equitable right against the Employer or any Director, officer or Employee
thereof except as provided by law or by any Plan provision. 
  

 22 

 10.9 Agreement Between Employer and Participant Only. 
 This Agreement is solely between the Employer and Participant. The Participant, Designated Beneficiary, estate or any other person claiming through the
Participant, shall only have recourse against the Employer for enforcement of this Agreement. This Agreement shall be binding upon and inure to the benefit of the Employer and its successors and assigns, and the Participant, successors, heirs,
executors, administrators and beneficiaries. 
 10.10 Independence of Benefits. 
 The benefits payable under this Agreement are for services already rendered and shall be independent of, and in addition to, any other benefits or
compensation, whether by salary, bonus, fees or otherwise, payable to the Participant under any compensation and/or benefit arrangements or plans, incentive cash compensations and stock plans and other retirement or welfare benefit plans, that now
exist or may hereafter exist from time to time. 
 10.11 Unclaimed Property. 
 Except as may be required by law, the Employer may take any of the following actions if it gives notice to a Participant or Designated Beneficiary of an
entitlement to benefits under the Plan, and the Participant or Designated Beneficiary fails to claim such benefit or fails to provide their location to the Employer within three (3) calendar years of such notice: 
 (a) Direct distribution of such benefits, in such proportions as the Employer may determine, to one or more or all, of a Participant’s next of kin,
if their location is known to the Employer; 
 (b) Deem this benefit to be a forfeiture and paid to the Employer if the location of a
Participant’s next of kin is not known. However, the Employer shall pay the benefit, unadjusted for gains or losses from the date of such forfeiture, to a Participant or Designated Beneficiary who subsequently makes proper claim to the benefit.

 The Employer shall not be liable to any person for payment pursuant to applicable state unclaimed property laws. 
 10.12 Required Tax Withholding and Reporting. 
 The Employer shall withhold and report Federal, state and local income and payroll tax amounts on all Contributions to and distributions and withdrawals from a Participant’s Account as may be required by law from time to time.

 10.13 Section 409A Compliance 
 To the extent applicable, this Plan shall be interpreted in accordance with Internal Revenue Code Section 409A and Department of Treasury regulations and other interpretive guidance issued thereunder. If the Employer determines that
any compensation or benefits payable under this Plan do not comply with Code Section 409A and related Department of Treasury guidance, the Employer may amend the Plan or take such other actions as the Employer deems necessary or appropriate to
comply with the requirements of Code Section 409A while preserving the economic agreement of the parties. 
  

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