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EXHIBIT 10.12
STOCKHOLDERS' AGREEMENT
CONSENT
The undersigned, along with Wyndham Hotel Corporation, a Delaware
corporation ("Wyndham"), are parties to a Stockholders' Agreement dated as of
May 24, 1996 (the "Stockholders' Agreement"). Defined terms used herein have
the meanings assigned to them in the Stockholders' Agreement.
Pursuant to Section 4.4 of the Stockholders' Agreement, the
undersigned hereby consent (i) to the pledge, without compliance with the
requirements of Section 2.1(a)(ii)(E) of the Stockholders' Agreement, by Xxxxx
X. Xxxxxxxx, Xxxxxx X. Xxxxxxx and Xxxxxxx X. Xxxxxx, Xx. of those Shares of
Wyndham pledged as collateral to secure loans made by Xxxxx Xxxxxx Inc. (or its
affiliates) to such individuals (or any refinancing of such loans) on or about
September 30, 1996, (ii) to any Transfer of such Shares following five business
days' after delivery of the demand notice described in the "Pledge Agreement"
(hereinafter defined) and subsequent foreclosure of such pledge being effected
without compliance with the restrictions on Transfer set forth in Article II of
the Stockholders' Agreement and (iii) to the Shares that are the subject of
such a foreclosure no longer constituting Covered Shares or otherwise being
subject to the Stockholders' Agreement, unless such Shares are acquired by a
Wyndham stockholder that is a party to the Stockholders' Agreement (or any
successors, assigns or affiliates thereof), in which case such Shares shall
once again become Covered Shares for purposes of the Stockholders' Agreement.
As used herein, "Pledge Agreements" shall collectively refer to the three
Pledge Agreements of even date herewith executed by each of Xxxxx X. Xxxxxxxx,
Xxxxxx X. Xxxxxxx and Xxxxxxx X. Xxxxxx, Xx. and acknowledged and agreed to by
Xxxxx Xxxxxx, Inc.
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IN WITNESS WHEREOF, the undersigned have executed this Consent as of
the 30th day of September, 1996.
/s/ Xxxxx X. Xxxxxxxx
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Xxxxx X. Xxxxxxxx
THE XXXXXXXX DESCENDANTS TRUST
By: /s/ Xxxxx X. Xxxxxxxx
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Name: Xxxxx X. Xxxxxxxx
Title: Special Trustee
/s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
THE BROOKE XXXXXX XXXXXXX TRUST
By: /s/ Xxxxxx X. Xxxxxxx
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Name: Xxxxxx X. Xxxxxxx
Title: Special Trustee
THE XXXXXXX XXXXXXXX XXXXXXXXX TRUST
By: /s/ Xxxxxx X. Xxxxxxx
---------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Special Trustee
THE XXXX XXXXXXX XXXXXXX TRUST
By: /s/ Xxxxxx X. Xxxxxxx
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Name: Xxxxxx X. Xxxxxxx
Title: Special Trustee
THE XXXXX XXXXXXXXX XXXXXXXXX TRUST
By: /s/ Xxxxxx X. Xxxxxxx
---------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Special Trustee
/s/ Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx
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/s/ Xxxxxxx X. Xxxxxx, Xx.
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Xxxxxxx X. Xxxxxx, Xx.
WYNDHAM EMPLOYEES LTD.
By: Wyndham Hotel Management
Corporation, General Partner
By: /s/ Xxxxx X. Xxxxxxxx
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Name: Xxxxx X. Xxxxxxxx
Title: President
WYNDHAM HOTEL MANAGEMENT CORPORATION
By: /s/ Xxxxx X. Xxxxxxxx
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Name: Xxxxx X. Xxxxxxxx
Title: President
/s/ Xxxxxxxx X. Xxxx
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Xxxxxxxx X. Xxxx
CF SECURITIES, L.P.
By: Mill Spring Holdings, Inc.,
General Partner
By: /s/ S.T. Groenteman
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Name: S.T. Groenteman
Title: Vice President
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XXXXXX XXXXXXXXXX XXXXXXXXXXX XXXXX XX,
X.X.
By: Hampstead GenPar, L.P., General Partner
By: HH GenPar Partners, General
Partner
By: Hampstead Associates, Inc.,
General Partner
By:/s/ Xxxxxx X. Xxxxxx
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Name:
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Title:
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WYNOPT INVESTMENT PARTNERSHIP, L.P.
By: Wynopt Investment GenPar, Inc.,
General Partner
By: /s/ Xxxxxx X. Xxxxxx
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Name:
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Title:
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/s/ Xxxxx X. Xxxxxxxxxx
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Xxxxx X. Xxxxxxxxxx
