In the event of early termination of the agreements, Marriott International will receive additional fees based on the unexpired term and expected future base and incentive management fees.
Distributed Company Marriott Vacations Worldwide Corporation, a Delaware corporation and a wholly owned subsidiary of Marriott International.
Pursuant to the terms of the agreements, Marriott International furnishes the hotels with certain chain services which are generally provided on a central or regional basis to all hotels in the Marriott International hotel system.
For the purposes of this paragraph, (1) Remington Lodging and Hospitality, L.P. shall be deemed an acceptable replacement manager, and (2) Starwood Hotels & Resorts Worldwide, Inc., Hilton Hotels Corporation, Marriott International, Inc.
Distributed Securities All of the shares of Marriott Vacations Worldwide common stock owned by Marriott International, which will be 100% of Marriott Vacations Worldwide common stock issued and outstanding immediately prior to the distribution.