Document:

Second Supplemental Indenture

 Exhibit 4.2 

 
  

 
 HYATT HOTELS CORPORATION

  
  

SECOND SUPPLEMENTAL INDENTURE 
 Dated as of August 4, 2011 
 to 

INDENTURE 
 Dated
as of August 14, 2009 
  
  

WELLS FARGO BANK, National Association 
 Trustee 
  
  

 

 SECOND SUPPLEMENTAL INDENTURE, dated as of August 4, 2011 (this “Second
Supplemental Indenture”), to the Indenture, dated as of August 14, 2009 (the “Original Indenture”), between HYATT HOTELS CORPORATION, a corporation organized under the laws of Delaware (the
“Company”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association organized under the laws of the United States, as trustee (the “Trustee”). 

WHEREAS, the Company and the Trustee have heretofore executed and delivered the Original Indenture to provide for the issuance from time
to time of Notes of the Company, to be issued in one or more Series; 
 WHEREAS, Section 9.01(1) of the Original Indenture
provides that the Company and the Trustee may effect certain amendments of the Original Indenture without the consent of any Holder to cure any ambiguity, defect, omission or inconsistency in the Original Indenture; 

WHEREAS, Section 9.01(8) of the Original Indenture provides that the Company and the Trustee may effect certain amendments of the
Original Indenture without the consent of any Holder to conform the text of the Indenture or the Notes to any provision of the section “Description of notes” in the Offering Memorandum relating to the initial offering of the Notes;

 WHEREAS, the term “Offering Memorandum” is not defined in the Original Indenture; and 

WHEREAS, all action on the part of the Company necessary to authorize this Second Supplemental Indenture has been duly taken. 

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 That, in consideration of the premises set forth above, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows: 
 ARTICLE I 
 SECTION 1.01. Amendment to Section 9.01(8). Section 9.01(8) of the Original Indenture is hereby deleted and amended and restated in its entirety to read as follows: 

(8) with respect to any Series of Notes, to conform the text of the Indenture applicable thereto or the Notes of such
Series to any provision of the section “Description of Notes”, “Description of the Notes” or “Description of Debt Securities” in the offering memorandum, prospectus supplement or other like offering document relating to
the initial offering of such Series of Notes that is intended to be a verbatim recitation of the terms of such Series of Notes. 

 ARTICLE II 
 MISCELLANEOUS 
 SECTION 2.01. Interpretation. Capitalized terms used herein
and not otherwise defined herein shall have the respective meanings ascribed thereto in the Original Indenture. The rules of interpretation set forth in the Original Indenture shall be applied hereto as if set forth in full herein. 

SECTION 2.02. Ratification of Original Indenture; Supplemental Indentures Part of Original Indenture. Except as expressly amended
hereby, the Original Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Second Supplemental Indenture shall form a part of the Original Indenture for
all purposes; provided, however, that this Second Supplemental Indenture shall not apply to, or modify the rights of, the Holders of any Securities heretofore or hereafter issued pursuant to the First Supplemental Indenture, dated
August 14, 2009 (the “First Supplemental Indenture”), to the Indenture. Every Holder of Securities hereafter authenticated and delivered (other than the Holders of any Securities issued pursuant to the First Supplemental
Indenture) shall be bound hereby. 
 SECTION 2.03. Concerning the Trustee. The recitals contained herein shall be taken
as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this Second Supplemental Indenture. 

SECTION 2.04. Counterparts. This Second Supplemental Indenture may be executed in any number of counterparts, each of which when
so executed shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 

SECTION 2.05. GOVERNING LAW. THIS SECOND SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

[Signature Page Follows] 

  
 2 

 IN WITNESS WHEREOF, the parties have caused this Second Supplemental Indenture to be duly
executed by their respective officers thereunto duly authorized as of the date first above written. 
  

	
	HYATT HOTELS CORPORATION,
	
	by        /s/ Harmit J. Singh
	 Name: Harmit J. Singh

Title:   Executive Vice President, Chief
             Financial Officer

	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee,
	
	by        /s/ Raymond DelliColli
	 Name: Raymond DelliColli

Title:   Vice PresidentDirector Compensation Policy effective April 30, 2011

 Exhibit 10.1 
 HARLEY-DAVIDSON, INC. 
 Director Compensation Policy 

Effective April 30, 2011 
 This compensation policy has been developed to compensate non-employee directors (“Directors”) of Harley-Davidson, Inc. (the “Company”) for their time, commitment and contributions to
the Board of Directors (the “Board”) of the Company. It is expected that Directors will attend all meetings of the Board and of its Committees. 
  

	I.	Annual Retainer Fee for Non-Employee Directors 

  

					
	 Annual Retainer Fee for Non-Employee Directors
	  	$	100,000	  
	 Annual Retainer Fee for the Chairman of the Board of Directors
	  	 	20,000	  
	 Annual Retainer Fee for Audit Committee Chair
	  	 	20,000	  
	 Annual Retainer Fee for Committee Chairs (other than the Audit Committee Chair)
	  	 	10,000	  
	 Annual Retainer Fee for Audit Committee Members
	  	 	5,000	  

 Annual Retainer Fees paid to Directors of the Board will be paid within ten (10) business days after
the first business day following the annual meeting of the shareholders of the Company (“Annual Meeting”). In the event a Director is elected to the Board at a time other than at the Annual Meeting, the Annual Retainer Fee will be prorated
on a quarterly basis based on the quarter a Director is elected to the Board and paid within ten (10) business days after the first business day after the Director’s first Board or committee meeting. 

Directors will be eligible to elect to receive Annual Retainer Fees in cash or Company Common Stock (based upon the
fair market value of the Common Stock on the first business day after the Annual Meeting or the first business day after the Director’s first Board or committee meeting) and to defer all Annual Retainer Fees paid in cash or Company Common Stock
pursuant to plans adopted by the Company from time to time. Directors must receive a minimum of one-half
( 1/2) of their Annual Retainer Fees in Company
Common Stock until the Director reaches the stock ownership goals established in the Director and Senior Executive Stock Ownership Guidelines for Harley-Davidson, Inc. 

 

	II.	Annual Grants to Non-Employee Directors 

 Directors will receive an annual grant of share units, each representing the value of one share of Company Common Stock, pursuant to plans adopted by the Company from time to time. A new director who
joins the Board other than at the time of an annual meeting will also receive a grant of share units. Payment will be deferred until a director ceases to serve as a director and will then be made in stock. 

 

	III.	Additional Compensation for and Payments to Non-Employee Directors 

Clothing Allowance. Each Director shall receive an annual clothing allowance of $1,500 to purchase
Harley-Davidson MotorClothes® apparel and accessories. 

Discount on Company Products. Each Director shall receive the same discount on Company products that is available to all Company
employees. 
 Expenses. The Company will reimburse reasonable travel and related business expenses that a Director incurs
for attendance at all meetings of the Board and committees and in connection with other Board of Directors or Company business. 

Motorcycle Usage. Management may provide a Director with the use of a motorcycle where doing so may further a Company business
objective.Statement of Business Procedures

 Exhibit 4(e) 
 (TRANSLATION) 
 Statement of Business Procedures 

of 
 Japan
Finance Organization for Municipalities 
 (Objective) 
 Article 1. The objective of this Statement of Business Procedures shall be to prescribe the basic matters relating to the business procedures of Japan Finance Organization for Municipalities
(hereinafter referred to as the “Organization”), under the provisions of Paragraph 1 of Article 31 of the Japan Finance Organization for Municipalities Law (Law No. 64 of 2007; herein after referred to as the
“Law”), for contributing to the sound operation of the Organization. 
 (Scope of Business) 

Article 2. In order to attain the objective specified in Article 1 of the Law, the Organization shall conduct the following business:

  

	 	(1)	To provide funds for Local Debt other than Local Debt in respect of municipal enterprises (meaning businesses whose expenses are essentially covered by income generated
from the management of relevant business; the same shall apply herein after) (limited to the Local Debt in respect of which consent has been obtained upon the consultation under the provisions of Paragraph 1 of Article 5-3 of the Local
Finance Law (Law No. 109 of 1948), or the permission set forth in Paragraph 1 or Paragraphs 3 through 5 of Article 5-4 of said law or in Paragraph 1 of Article 13 of Act on Assurance of Sound Financial Status of Municipalities
(Law No. 94 of 2007) has been obtained; the same shall apply in the immediately following item) or to subscribe such Local Debt issued in the form of bonds; 

 

	 	(2)	To provide funds for Local Debt in respect of any of the businesses mentioned in Item (2), Paragraph 1 of Article 28 of the Law from among the Local Debt in
respect of municipal enterprises, or subscription for such Local Debt issued in the form of bonds; 

  

	 	(3)	To provide funds for temporary borrowings to be made to local governments excluding borrowings to be made to municipal enterprises; 

 

	 	(4)	To provide funds for temporary borrowings in respect of any of the businesses mentioned in Item (2), Paragraph 1 of Article 28 of the Law from among the
borrowings to be made to municipal enterprises; 

  

	 	(5)	To perform investigation and research with respect to financing of local governments; 

 

	 	(6)	To accept the entrustment of business with respect to financing of local governments; 

 

	 	(7)	To provide information, advice, and other supports to local governments with respect to financing; and 

 

	 	(8)	Business incidental to the business specified in each of the preceding items. 

  
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 (Provision of Funds for Local Debt or Subscription of Local Debt) 

Article 3. 
  

	 	1.	Provision of funds for Local Debt or subscription thereof (hereinafter referred to as the “Provision of Funds, etc.”), provided in Items (1) and
(2) of the immediately preceding article, shall be conducted as provided in each of the following items: 

  

	 	(1)	Person to be provided with the funds 

 Local governments which have obtained consent or permission for issuance of Local Debt or are certain to obtain the consent or permission 

 

	 	(2)	Local Debt, for which the funds are provided 

  

	 	A.	Local debt relating to the following business: 

  

	 	(a)	Business other than the municipal enterprise; 

  

	 	(b)	Water supply business; 

  

	 	(c)	Transportation business; 

  

	 	(d)	Hospital business; 

  

	 	(e)	Sewage business; 

  

	 	(f)	Public housing business (which refers to the business of constructing houses to be rented or transferred by local governments to persons who are in need of houses for
themselves to live in, and also refers to businesses incidental thereto); 

  

	 	(g)	Water supply business for industrial use; 

  

	 	(h)	Electricity supply business; 

  

	 	(i)	Gas supply business; 

  

	 	(j)	Port development business (limited to reclamation business and the business of leasing cargo-handling machines, storage sheds, warehouses, lumberyards, and tugboats to
assist the leaving shore and landing ashore); 

  

	 	(k)	Business of providing care for the elderly; 

  

	 	(l)	Market business; 

  

	 	(m)	Slaughterhouse business; 

  

	 	(n)	Tourism facilities business; 

  

	 	(o)	Parking space business; and 

  

	 	(p)	Industrial waste disposal business. 

  

	 	B.	Such Local Debt as prescribed separately, other than the Local Debt issued in accordance with the proviso of Article 5 of the Local Finance Law.

  

	 	(3)	Use of the funds 

Funds shall be allocated for the businesses expenses, for which consent or permission for issuance of Local Debt has been
obtained, or for business expenses, for which consent or permission is certain to be obtained. 
  

	 	(4)	Method of Provision of Funds, etc. 

 The funds shall be provided with through lending securities and subscribing for bonds. 
  

	 	(5)	Interest rate on provision of funds and the yield on Local Debt to be subscribed for 

Interest rate on the provision of funds and the yield on the Local Debt to be subscribed for shall be separately
prescribed, taking into consideration the interest by which the present discounted value of cash flow with respect to the borrowed loanable funds (excluding the funds for temporary borrowing) is equal to the present discounted value of each such
cash flow as generated, through the provision of funds by the Organization, under the maturity of each fund and the period of deferment of each fund, and the form of redemption of each fund. 

 

	 	(6)	Maturity 

 The
maturity of the funds shall be within the period not exceeding thirty (30) years from the following day of the Provision of Funds, etc. as prescribed separately. 
  

	 	(7)	Period of deferment 

 The period of deferment shall expire within five (5) years from the following day of the Provision of Funds, etc. as prescribed separately. 

 

	 	(8)	Method of redemption 

 The funds shall be redeemed in installments or in a lump sum; provided, however, that the funds raised by the subscription of bonds shall be redeemed pursuant to the method of redemption of the bonds.

  

	 	2.	The Organization may, notwithstanding the provisions of the immediately preceding paragraph, approve the assumption by other local governments of the debts regarding
the funds provided to the local governments specified in Item (1) of the same paragraph. 

  
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 (Provision of Funds for Temporary Borrowing) 

Article 4. The provision of funds for temporary borrowing provided in Items (3) and (4) of Article 2 shall be made, within the limit
that it shall not affect the provision of funds in the immediately preceding article, as provided for in each of the following items: 
  

	 	(1)	Person to be provided with funds 

 Local governments with the necessity of the funds as temporary borrowing 
  

	 	(2)	Use of funds 

The funds shall be used to cover a temporary shortage of cash appertaining to revenue and expenditures of each accounting
of local governments; provided, however, that, among the funds for temporary borrowing provided in Item (4) of Article 2, such funds to be used for facilities as is allocated to the business expenses whose financial resources are Local
Debt shall, as a principle, be provided only for important long-term projects whose execution or continuation may be threatened without the funds. 
  

	 	(3)	Limitation on the amount of funds 

 Limitation on the amount of funds shall be the amount which is necessary for the adjustment of a temporary shortage of cash appertaining to revenue and expenditure of each accounting of local governments.

  

	 	(4)	Method of providing with funds 

 The funds shall be provided with through lending securities. 
  

	 	(5)	Maturity 

 The
maturity of the funds shall be within the period not exceeding three (3) months which is necessary for adjustment of the temporary shortage of cash appertaining to revenue and expenditure of local governments. 

 

	 	(6)	Refinancing 

Notwithstanding the provision of the immediately preceding paragraph, the funds may be refinanced for a period not
exceeding three (3) months, if such refinancing is inevitable. 
  

	 	(7)	Method of redemption 

 The redemption shall be made in a lump sum. 
  

	 	(8)	Others 

 The
provision under Item (5), Paragraph 1 of the immediately preceding article, shall be applied mutatis mutandis to the interest rate on the provision of funds for temporary borrowing. 

(Investigation and Research with respect to Financing) 
 Article 5. Investigation and research with respect to financing of the local government shall be the investigation and research, etc. of the necessary matters for the local government’s
efficient performance of financing from capital markets. 

  
 -3-

 (Acceptance of Entrustment of Business with respect to Financing) 

Article 6. Acceptance of the entrustment of business with respect to financing of local government shall be the acceptance, when such acceptance is
necessary for the local government’s efficient performance of financing from capital markets, of the entrustment of business of the relevant local government. 
 (Provision of Information, Advice, and other Supports to Local Governments with respect to Financing) 
 Article 7. Provision of information, advice, and other supports to local governments with respect to financing shall be the provision of information and advice necessary for the local
government’s efficient performance of financing from capital market, and provision of other necessary supports, to local governments. 
 Supplementary Provisions 
  

	 	1.	In addition to the businesses provided in Article 2 above, the Organization may perform, for the time being, upon entrustment thereof by the Japan Finance
Corporation, the business relating to the provision of funds necessary for forestation and the improvement, creation or restoration of pastureland carried out by local government. 

 

	 	2.	The business mentioned in the immediately preceding paragraph shall be conducted pursuant to the applicable laws and regulations, and the contracts relating to such
business. 

  

	 	3.	With respect to the application of the provisions of Article 2 above during the business years 2009 through 2013, the phrase “through 5” in Item
(1) of said article shall be replaced with the phrase “through 5, Paragraph 2 of Article 33-5-7 or Paragraph 1 of Article 33-8.” 

 

	 	4.	With respect to the application of the provisions of Article 2 above for the business years 2014 and 2015, the phrase “through 5” in Item (1) of
said article shall be replaced with the phrase “through 5 or Paragraph 1 of Article 33-8.” 

  

	 	5.	In addition to the businesses provided in Article 2 above and Article 1 of these Supplementary Provisions, the Organization shall perform the business of
managing and collecting the relevant receivables, and the businesses incidental thereto during the period until the completion of the collection of the receivables relating to the funds provided by the Corporation, to which receivables the
Organization will succeed pursuant to the provisions of Paragraph 1 of Article 9 of the Supplementary Provisions of the Law. 

  

	 	6.	The business mentioned in the immediately preceding paragraph shall be conducted pursuant to applicable laws and regulations. 

Supplementary Provisions (Decision of Representative Board of Japan Finance Organization for Municipal Enterprises on April 21,
2009) 
 These amendments shall be effective as of June 1, 2009, and the provisions of the Statement of Business Procedures
of Japan Finance Organization for Municipalities after the amendment shall be applied to such provision of funds as is conducted on or after the said date. 
 Supplementary Provisions (Decision of Representative Board of Japan Finance Organization for Municipalities on March 17, 2011) 

These amendments shall be effective as of March 17, 2011, and the provisions of the Statement of Business Procedures of Japan
Finance Organization for Municipalities after the amendment shall be applied to such provision of funds as is conducted on or after the said date. 

  
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