SEC Contract Filing

Filing Date: 2021-08-03

Document Content:
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<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>d196399dex104.htm
<DESCRIPTION>EX-10.4
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<TITLE>EX-10.4</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.4 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Form for Mark Wang </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SPECIAL
TRANSACTION INCENTIVE PERFORMANCE- AND SERVICE-BASED </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RESTRICTED STOCK UNIT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>HILTON GRAND VACATIONS INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2017 OMNIBUS INCENTIVE PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TRANSACTION INCENTIVE AWARD NOTICE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In
connection with the closing of the Company&#146;s acquisition of Diamond Resorts International, Inc. (the &#147;Merger&#148;), the Participant has been granted a transaction incentive award in the form of Performance- and Service-Based Restricted
Stock Units (or &#147;RSUs&#148;) with the terms set forth in this Award Notice and subject to the terms and conditions of the Plan and the Special Transaction Incentive Performance- and Service-Based Restricted Stock Unit Agreement, including its
appendices, to which this Award Notice is attached. Capitalized terms used and not defined in this Award Notice shall have the meanings set forth in the Special Transaction Incentive Performance- and Service-Based Restricted Stock Unit Agreement and
the Plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1. <U>General.</U> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Participant</U>:
<B>#ParticipantName#</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Date of Grant</U>: <B>#GrantDate#</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Performance Period</U>: <B>#ClosingDate#</B>to December&nbsp;31, 2023 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Target Number of Restricted Stock Units Granted</U>: <B>#QuantityGranted#</B> RSUs </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2. <U>Performance Conditions.</U> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Performance
Conditions (the &#147;Performance Conditions&#148;)</U>: The extent to which the Performance Conditions are satisfied and the number of RSUs which become vested, if any, shall be calculated with respect to each Performance Component identified
below. All determinations made with respect to Run Rate Cost Savings and Adjusted EBITDA shall be made by the Committee in its sole discretion and the applicable Performance Conditions shall not be achieved and the RSUs shall not vest unless and to
the extent that the Committee certifies that such Performance Conditions have been met. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Adjusted EBITDA</U>. The total number of RSUs which become vested based on the achievement of Adjusted EBITDA
performance levels shall be equal to (x)&nbsp;the target number of RSUs multiplied by (y)&nbsp;a relative weighting component equal to thirty-three percent (33%), multiplied by (z)&nbsp;the Achievement Percentage determined based upon the applicable
Adjusted EBITDA Position for the Performance Period as follows, and rounded down to the nearest whole Share: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Level of Achievement</B></P></TD>
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<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Adjusted&nbsp;EBITDA&nbsp;Position</B></TD>
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<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Percentage&nbsp;of</B><br><B>Award&nbsp;Earned</B></TD>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Below Thresho