Hertz 2014 Annual Report Download - page 43

Table of Contents
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

We have a significant number of authorized but unissued shares, including shares available for issuance pursuant to our various equity plans. A
sale of a substantial number of our shares or other equity-related securities in the public market pursuant to new issuances or by significant
stockholders could depress the market price of our stock and impair our ability to raise capital through the sale of additional equity securities. Any
such sale or issuance would dilute the ownership interests of the then-existing stockholders, and could have material adverse effect on the market
price of our common stock.

None.
 
We operate car rental locations at or near airports and in central business districts and suburban areas of major cities in the U.S., including Puerto
Rico and the U.S. Virgin Islands, Canada, France, Germany, Italy, the United Kingdom, Spain, the Netherlands, Belgium, Luxembourg, the Czech
Republic, Slovakia, Australia, New Zealand and Brazil, as well as retail used car sales locations in the U.S., France and Australia. We operate
equipment rental locations in the U.S., Canada, France, Spain, China and Saudi Arabia and have a branch of our entertainment services business
in the United Kingdom. We also operate headquarters, sales offices and service facilities in the foregoing countries in support of our car rental and
equipment rental operations, as well as small car rental sales offices and service facilities in a select number of other countries in Europe and
Asia.
We own approximately 5% of the locations from which we operate our car and equipment rental businesses and in some cases own real property
that we lease to franchisees or other third parties. The remaining locations from which we operate our car and equipment rental businesses are
leased or operated under concessions from governmental authorities and private entities. Those leases and concession agreements typically
require the payment of minimum rents or minimum concession fees and often also require us to pay or reimburse operating expenses; to pay
additional rent, or concession fees above guaranteed minimums, based on a percentage of revenues or sales arising at the relevant premises; or
to do both. See Note 11, "Lease and Concession Agreements," to the Notes to our consolidated financial statements included in this Annual
Report under the caption Item 8, "Financial Statements and Supplementary Data."
In addition to the above operational locations, we own three major facilities in the vicinity of Oklahoma City, Oklahoma at which reservations for
our car rental operations are processed, global information technology systems are serviced and finance and accounting functions are performed.
We also have a long-term lease for a reservation and financial center near Dublin, Ireland, at which we have centralized our European car rental
reservation, customer relations, accounting and human resource functions. We lease a European headquarters office in Uxbridge, England.
In May 2013, we announced the relocation of our worldwide headquarters from Park Ridge, New Jersey to Estero, Florida. Construction on the new
facility is ongoing and we are leasing temporary office space in Naples and Bonita Springs, Florida until the new headquarters building is complete.
Key headquarters functions have already transitioned to Florida and we are actively marketing the building in Park Ridge, New Jersey. Additionally,
we are also in the process of consolidating the prior Dollar Thrifty operations into our Oklahoma City, Oklahoma and Estero, Florida locations and
as a result are currently marketing the former Dollar Thrifty facilities in Tulsa, Oklahoma.
Due to the anticipated HERC spin-off transaction, we have entered into a lease for office space in Bonita Springs, Florida. This leased office space
is used to house the HERC headquarters.
Donlen's headquarters is in Northbrook, Illinois. Donlen also leases office space in Darien, Illinois and Buffalo Grove, Illinois for its fleet
management services, consultation call center staff and certain financial systems functions. Donlen has other sales offices located throughout the
U.S.
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Source: HERTZ GLOBAL HOLDINGS INC, 10-K, July 16, 2015 Powered by Morningstar® Document Research℠
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