EX-99.23 5 tm2423176d2_ex99-23.htm EXHIBIT 99.23

 

Exhibit 23

 

JOINDER AGREEMENT

 

September 3, 2024

 

Nordstrom, Inc.

1617 Sixth Avenue

Seattle, Washington 98101

Attention: Ann Munson Steines, Chief Legal Officer, General Counsel and Corporate Secretary

 

Erik B. Nordstrom

Peter E. Nordstrom

1617 Sixth Avenue

Seattle, Washington 98101

Attention: Erik B. Nordstrom and Peter E. Nordstrom

 

Ladies and Gentlemen:

 

Each of the undersigned (collectively, the “Family Owners”) hereby acknowledges that he, she or it has received and reviewed a copy of the Nondisclosure Confidentiality Agreement, dated as of April 17, 2024, by and between Erik B. Nordstrom, Peter E. Nordstrom, and certain related trusts (collectively, “Messrs. Erik and Pete Nordstrom”) and Nordstrom, Inc. (the “Company”), a copy of which is attached hereto as Exhibit A (the “NDA”). Capitalized terms used but not defined in this letter agreement (this “Joinder”) and the term “person” have the meaning ascribed thereto in the NDA.

 

Each Family Owner acknowledges that he, she or it is a potential source of financing to Messrs. Erik and Pete Nordstrom in connection with the Possible Transaction. Accordingly, each Family Owner acknowledges that he, she or it is a Representative of Messrs. Erik and Pete Nordstrom pursuant to the terms of the NDA and that all references to “Representatives” in the NDA will be deemed to include such Family Owner.

 

Each Family Owner hereby acknowledges and agrees that:

 

(i)             such Family Owner has been informed by Messrs. Erik and Pete Nordstrom of the confidential nature of the Proprietary Information and the Transaction Information;

 

(ii)            such Family Owner shall act in accordance with and be bound by the provisions of the NDA applicable to Messrs. Erik and Pete Nordstrom as if a party thereto;

 

(iii)           such Family Owner is a member of the Transaction Group and the Transaction Group shall automatically, and without any further action by any person, be disbanded on the date that is the earlier of twelve months after the date of the NDA and the date on which Messrs. Erik and Pete Nordstrom notify the Company in writing that they have elected to cease participating in the Transaction Group, which disbandment shall be binding upon all members of the Transaction Group, including the Family Owners; and

 

 

 

 

(iv)           the Proprietary Information and/or Transaction Information may contain or may itself be material non-public information concerning the Company and he, she or it has been advised of the restrictions imposed by the United States securities laws on the purchase or sale of securities by any person who has received material, non-public information about the issuer of such securities and on the communication of such information to any other person when it is reasonably foreseeable that such other person is likely to purchase or sell such securities in reliance upon such information; and

 

(v)            none of the Company, Messrs. Erik and Pete Nordstrom or their respective Representatives (other than such Family Owner) shall have any liability whatsoever to such Family Owner or any of its representatives, including, without limitation, in contract, tort or under federal or state securities laws, relating to or resulting from the use of the Proprietary Information or any errors therein or omissions therefrom.

 

Each Family Owner and the Company hereby acknowledge and agree that:

 

(i)             The allowance set forth Section 7(a)(ii) of the NDA shall be amended to include James F. Nordstrom, Jr. in that provision; and

 

(ii)            Nothing herein or in the NDA shall preclude any Family Owner from transferring or selling any securities of the Company in the Possible Transaction.

 

This letter agreement shall be governed by the terms and conditions set forth in Section 11 of the NDA, as applicable, mutatis mutandis, as if the Family Owners were Messrs. Erik and Pete Nordstrom.

 

[Signature Page Follows]

 

 

 

 

  Very truly yours,
     
  FAMILY OWNERS:
     
  Everett Nordstrom Trust FBO Anne Gittinger
     
  By: /s/ Charles W. Riley, Jr.
  Name: Charles W. Riley, Jr.
  Title: Trustee
     
  /s/ James F. Nordstrom, Jr.
  James F. Nordstrom, Jr.
     
  /s/ Anne E. Gittinger
  Anne E. Gittinger
     
  1976 Elizabeth J. Nordstrom Trust FBO Anne Gittinger
     
  By: /s/ Anne E. Gittinger
  Name: Anne E. Gittinger
  Title: Trustee
     
  Elizabeth J. Nordstrom Trust FBO Susan Dunn
     
  By: /s/ Susan E. Dunn
  Name: Susan E. Dunn
  Title: Trustee
     
  /s/ Susan E. Dunn
  Susan E. Dunn
     
  /s/ Brandy Nordstrom
  Brandy Nordstrom
     
  /s/ Julie A. Nordstrom
  Julie A. Nordstrom

 

 

 

 

  Bruce A. Nordstrom TR Frances W. Nordstrom Testamentary Trust
     
  By: /s/ Erik B. Nordstrom
  Name: Erik B. Nordstrom
  Title: Co-Trustee
     
  By: /s/ Peter E. Nordstrom
  Name: Peter E. Nordstrom
  Title: Co-Trustee
     
  By: /s/ Charles W. Riley, Jr.
  Name: Charles W. Riley, Jr.
  Title: Co-Trustee
     
  Estate of Bruce A. Nordstrom
     
  By: /s/ Margaret Jean O’Roark Nordstrom
  Name: Margaret Jean O’Roark Nordstrom
  Title: Co-Executor of the Estate of Bruce A. Nordstrom
     
  By: /s/ Peter E. Nordstrom
  Name: Peter E. Nordstrom
  Title: Co-Executor of the Estate of Bruce A. Nordstrom
     
  By: /s/ Erik B. Nordstrom
  Name: Erik B. Nordstrom
  Title: Co-Executor of the Estate of Bruce A. Nordstrom
     
  /s/ Margaret Jean O’Roark Nordstrom
  Margaret Jean O’Roark Nordstrom

 

 

 

 

  Katharine T. Nordstrom 2007 Trust Agreement
     
  By: /s/ James F. Nordstrom, Jr.
  Name: James F. Nordstrom, Jr.
  Title: Trustee
     
  Julia K. Nordstrom 2007 Trust Agreement
     
  By: /s/ James F. Nordstrom, Jr.
  Name: James F. Nordstrom, Jr.
  Title: Trustee
     
  Audrey G. Nordstrom 2007 Trust Agreement
     
  By: /s/ James F. Nordstrom, Jr.
  Name: James F. Nordstrom, Jr.
  Title: Trustee

 

 

 

 

  LN 1989 TRUST JWN
     
  By: /s/ Linda Nordstrom
  Name: Linda Nordstrom
  Title: Trustee
     
  LN Holdings JWN LLC
     
  By: /s/ Linda Nordstrom
  Name: Linda Nordstrom
  Title: Co-Manager
     
  By: /s/ Kimberly Bentz
  Name: Kimberly Bentz
  Title: Co-Manager
     
  LN Holdings JWN II LLC
     
  By: /s/ Linda Nordstrom
  Name: Linda Nordstrom
  Title: Co-Manager
     
  By: /s/ Kimberly Bentz
  Name: Kimberly Bentz
  Title: Co-Manager

 

 

 

 

  /s/ Alexandra F. Nordstrom
  Alexandra F. Nordstrom
     
  Blake & Molly Nordstrom 2012 Alexandra F. Nordstrom Trust
     
  By: /s/ Alexandra F. Nordstrom
  Name: Alexandra F. Nordstrom
  Title: Trustee
     
  Blake and Molly Nordstrom 2012 Andrew L Nordstrom Trust
     
  By: /s/ Andrew L. Nordstrom
  Name: Andrew L. Nordstrom
  Title: Trustee
     
  /s/ Leigh E. Nordstrom
  Leigh E. Nordstrom
     
  /s/ Samuel C. Nordstrom
  Samuel C. Nordstrom
     
  /s/ Sara D. Nordstrom
  Sara D. Nordstrom
     
  Address for Family Owners:
  1617 Sixth Avenue, Seattle, Washington 98101
  Attention: Erik B. Nordstrom and Peter E. Nordstrom

 

 

 

 

Acknowledged and agreed:

 

COMPANY:

 

NORDSTROM, INC.

 

By:  /s/ Ann Munson Steines   
Name: Ann Munson Steines  
Title:  Chief Legal Officer, General Counsel and Corporate Secretary  

 

Address: 1617 Sixth Avenue, Seattle, Washington 98101

Attention: Ann Munson Steines, Chief Legal Officer, General Counsel and Corporate Secretary

 

MESSRS. ERIK AND PETE NORDSTROM:

 

/s/ Erik B. Nordstrom  
Erik B. Nordstrom  
   
/s/ Peter E. Nordstrom  
Peter E. Nordstrom  

 

PETE AND BRANDY NORDSTROM 2012 CHILDREN'S TRUST

 

By:/s/ Erik B. Nordstrom  
Name:Erik B. Nordstrom  
Title:Trustee  

 

PETE AND BRANDY NORDSTROM 2010 MFN TRUST

 

By:/s/ Erik B. Nordstrom  
Name:Erik B. Nordstrom  
Title:Trustee  

 

 

 

 

PETE AND BRANDY NORDSTROM 2012 CFN TRUST

 

By:/s/ Erik B. Nordstrom  
Name:Erik B. Nordstrom  
Title:Trustee  

 

ERIK AND JULIE NORDSTROM SARA D. NORDSTROM 2012 TRUST

 

By:/s/ Peter E. Nordstrom  
Name:Peter E. Nordstrom  
Title:Trustee  

 

BRUCE AND JEANNIE NORDSTROM 2010 MFN TRUST

 

By:/s/ Peter E. Nordstrom  
Name:Peter E. Nordstrom  
Title:Trustee  

 

BRUCE AND JEANNIE NORDSTROM 2012 CFN TRUST

 

By:/s/ Peter E. Nordstrom  
Name:Peter E. Nordstrom  
Title:Trustee  

 

1976 BRUCE A. NORDSTROM TRUST (aka 1976 ELIZABETH J. NORDSTROM TRUST FBO BRUCE NORDSTROM)

 

By:/s/ Peter E. Nordstrom  
Name:Peter E. Nordstrom  
Title:Co-Trustee  

 

By:/s/ Erik B. Nordstrom  
Name:Erik B. Nordstrom  
Title:Co-Trustee  

 

 

 

 

FRANCES W. NORDSTROM TRUST FBO BAN, created under will dated April 4, 1984

 

By:/s/ Peter E. Nordstrom  
Name:Peter E. Nordstrom  
Title:Co-Trustee  

 

By:/s/ Erik B. Nordstrom  
Name:Erik B. Nordstrom  
Title:Co-Trustee  

 

Address: 1617 Sixth Avenue, Seattle, Washington 98101

Attention: Erik B. Nordstrom and Peter E. Nordstrom