SEC Contract Filing

Filing Date: 2024-02-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.54
<SEQUENCE>3
<FILENAME>exhibit1054-msagreement.htm
<DESCRIPTION>EXECUTIVE SEPARATION AGREEMENT
<TEXT>
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<title>Document</title></head><body><div id="i6867805f9b6349a7b0e1f29d7e482a97_1"></div><div style="min-height:53.1pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Exhibit 10.54</font></div></div><div><img alt="image_0.jpg" src="image_0.jpg" style="height:35px;margin-bottom:5pt;vertical-align:text-bottom;width:95px"></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Matthew Schuyler</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE</font></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">This Confidential Separation Agreement and General Release of all claims (&#8220;Agreement&#8221;) is made by and between Matthew Schuyler (&#8220;You&#8221; or &#8220;Your&#8221;) and Hilton Domestic Operating Company Inc. (the &#8220;Company&#8221;), regarding the terms of Your employment and separation from employment with the Company or one of its subsidiaries or affiliates. The general provisions of this Agreement are subject to the Hilton Worldwide Holdings Inc. Executive Severance Plan, as amended from time to time, and incorporated herein by reference (the &#8220;Plan&#8221;), except to the extent modified by this Agreement. The definitions of any capitalized terms not defined in the Agreement are set forth in the Plan.</font></div><div style="margin-bottom:12pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%;padding-left:18.75pt;text-decoration:underline">Terms of Your Separation </font></div><div style="padding-left:27pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:94.391%"><tr><td style="width:1.0%"></td><td style="width:19.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:78.187%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Separation Date&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Your employment with the Company will terminate effective the earlier of (i) June 30, 2024 or (ii) the date You commence employment with any subsequent employer other than Hilton or any of its subsidiaries or affiliates (the &#8220;Separation Date&#8221;). You hereby confirm Your resignation from all officer and board positions with the Company and its affiliates effective as of the Transition Date.</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Advisory Services&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Effective January 1, 2024 (the &#8220;Transition Date&#8221;) and through Your Separation Date, You will transition from Your current role and will be employed as a Special Advisor for consultation and advice, provided you execute and comply with this Agreement.</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Performance&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">To continue your employment as Special Advisor, You must satisfactorily perform Your duties and any transition tasks assigned to You through the Separation Date, as determined by the Company. If You obtain other employment with the Company or a subsidiary or affiliate prior to Your Separation Date, or if You resign or are terminated for Cause or breach of or failure to perform under this Agreement prior to Your Separation Date, You will be ineligible to receive any separation payments or benefits under this Agreement or the Plan, and this Agreement will be null and void.</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Salary Continuation&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">You will continue to receive Your annual base salary (less applicable fede