Priceline 2010 Annual Report Download - page 60
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58
Kees Koolen
On June 15, 2010, Kees Koolen, Chief Executive Officer of Booking.com, paid Priceline.com
International Limited (“PIL”), a wholly-owned subsidiary of the Company, £974,806 to purchase a 1%
ownership interest in TravelJigsaw Holdings Limited, a holding company which is the majority shareholder in
TravelJigsaw Limited, the international rental car reservation service acquired by the Company through PIL in
May 2010. Mr. Koolen has the right to put his TravelJigsaw shares to PIL and PIL has the right to call the shares
during specified exercise periods, in each case at a purchase price reflecting the fair value of the shares at the
time of exercise. In March 2011, PIL exercised its right to call 20,388 of Mr. Koolen’s TravelJigsaw Holdings
Limited shares, at an aggregate purchase price of approximately £295,000, which was paid in April 2011.
Subject to certain exceptions, up to two-thirds and 100% of the aggregate total amount of Mr. Koolen’s
TravelJigsaw Holdings Limited shares will be subject to the put and call options in each of 2012 and 2013,
during specified exercise periods, respectively.