HYATT HOTELS CORPORATION (NYSE:H) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June1, 2018, Mr.Stephen Haggerty’s employment relationship with Hyatt Hotels Corporation (the “Company”) terminated.
On May31, 2018 (the “Effective Date”), the Company entered into an Advisory Agreement with Mr.Haggerty through his limited liability company, Bare Hill Advisory LLC (the “Advisory Agreement”). Under the Advisory Agreement, the Company will pay Mr.Haggerty a monthly retainer of $75,000 for each of June and July, 2018 and $15,000 for each calendar month of continued services thereafter. If the Company terminates the agreement prior to August1, 2018 (other than due to Mr.Haggerty’s breach), Mr.Haggerty will be entitled to payment of 80% of his fees for the period through July31, 2018. In addition, Mr.Haggerty will be eligible to receive discretionary cash success bonuses linked to the successful completion of certain projects.
The foregoing description of the Advisory Agreement is qualified in its entirety by reference to the text of the Advisory Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
|Item 5.02||Financial Statements and Exhibits.|
Hyatt Hotels Corp ExhibitEX-10.1 2 d230682dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 ADVISORY AGREEMENT THIS ADVISORY AGREEMENT (this Agreement) is made as of the 31st day of May,…To view the full exhibit click
About HYATT HOTELS CORPORATION (NYSE:H)
Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties, consisting of full service hotels, select service hotels, resorts and other properties, including timeshare, fractional and other forms of residential and vacation properties. The Company operates through four segments: Owned and leased hotels; Americas management and franchising; Southeast Asia, China, Australia, South Korea and Japan (ASPAC) management and franchising, and Europe, Africa, the Middle East and Southwest Asia (EAME/SW Asia) management. The Company’s hotel portfolio consists of approximately 600 properties (over 159,340 rooms). The Company’s full service hotels and resorts operate under six brands: Park Hyatt, Grand Hyatt, Andaz, Hyatt Regency, Hyatt Centric and Hyatt. The Company’s two select service brands include Hyatt Place and Hyatt House.