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, |
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| FAMILY OWNERS: |
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| Everett Nordstrom Trust FBO Anne Gittinger |
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| By: | /s/ Charles W. Riley, Jr. |
| Name: | Charles W. Riley, Jr. |
| Title: | Trustee |
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| /s/ James F. Nordstrom, Jr. |
| James F. Nordstrom, Jr. |
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| /s/ Anne E. Gittinger |
| Anne E. Gittinger |
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| 1976 Elizabeth J. Nordstrom Trust FBO Anne Gittinger |
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| By: | /s/ Anne E. Gittinger |
| Name: | Anne E. Gittinger |
| Title: | Trustee |
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| Elizabeth J. Nordstrom Trust FBO Susan Dunn |
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| By: | /s/ Susan E. Dunn |
| Name: | Susan E. Dunn |
| Title: | Trustee |
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| /s/ Susan E. Dunn |
| Susan E. Dunn |
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| /s/ Brandy Nordstrom |
| Brandy Nordstrom |
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| /s/ Julie A. Nordstrom |
| Julie A. Nordstrom |
| Bruce A. Nordstrom TR Frances W. Nordstrom Testamentary Trust |
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| By: | /s/ Erik B. Nordstrom |
| Name: | Erik B. Nordstrom |
| Title: | Co-Trustee |
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| By: | /s/ Peter E. Nordstrom |
| Name: | Peter E. Nordstrom |
| Title: | Co-Trustee |
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| By: | /s/ Charles W. Riley, Jr. |
| Name: | Charles W. Riley, Jr. |
| Title: | Co-Trustee |
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| Estate of Bruce A. Nordstrom |
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| By: | /s/ Margaret Jean O’Roark Nordstrom |
| Name: | Margaret Jean O’Roark Nordstrom |
| Title: | Co-Executor of the Estate of Bruce A. Nordstrom |
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| By: | /s/ Peter E. Nordstrom |
| Name: | Peter E. Nordstrom |
| Title: | Co-Executor of the Estate of Bruce A. Nordstrom |
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| By: | /s/ Erik B. Nordstrom |
| Name: | Erik B. Nordstrom |
| Title: | Co-Executor of the Estate of Bruce A. Nordstrom |
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| /s/ Margaret Jean O’Roark Nordstrom |
| Margaret Jean O’Roark Nordstrom |
| Katharine T. Nordstrom 2007 Trust Agreement |
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| By: | /s/ James F. Nordstrom, Jr. |
| Name: | James F. Nordstrom, Jr. |
| Title: | Trustee |
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| Julia K. Nordstrom 2007 Trust Agreement |
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| By: | /s/ James F. Nordstrom, Jr. |
| Name: | James F. Nordstrom, Jr. |
| Title: | Trustee |
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| Audrey G. Nordstrom 2007 Trust Agreement |
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| By: | /s/ James F. Nordstrom, Jr. |
| Name: | James F. Nordstrom, Jr. |
| Title: | Trustee |
| LN 1989 TRUST JWN |
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| By: | /s/ Linda Nordstrom |
| Name: | Linda Nordstrom |
| Title: | Trustee |
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| LN Holdings JWN LLC |
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| By: | /s/ Linda Nordstrom |
| Name: | Linda Nordstrom |
| Title: | Co-Manager |
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| By: | /s/ Kimberly Bentz |
| Name: | Kimberly Bentz |
| Title: | Co-Manager |
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| LN Holdings JWN II LLC |
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| By: | /s/ Linda Nordstrom |
| Name: | Linda Nordstrom |
| Title: | Co-Manager |
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| By: | /s/ Kimberly Bentz |
| Name: | Kimberly Bentz |
| Title: | Co-Manager |
| /s/ Alexandra F. Nordstrom |
| Alexandra F. Nordstrom |
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| Blake & Molly Nordstrom 2012 Alexandra F. Nordstrom Trust |
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| By: | /s/ Alexandra F. Nordstrom |
| Name: | Alexandra F. Nordstrom |
| Title: | Trustee |
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| Blake and Molly Nordstrom 2012 Andrew L Nordstrom Trust |
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| By: | /s/ Andrew L. Nordstrom |
| Name: | Andrew L. Nordstrom |
| Title: | Trustee |
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| /s/ Leigh E. Nordstrom |
| Leigh E. Nordstrom |
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| /s/ Samuel C. Nordstrom |
| Samuel C. Nordstrom |
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| /s/ Sara D. Nordstrom |
| Sara D. Nordstrom |
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| 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