Co-Registrant CIK	0000047129
Co-Registrant Amendment Flag	false
Co-Registrant Form Type	8-K
Co-Registrant DocumentPeriodEndDate	2019-05-04
Co-Registrant Written Communications	false
Co-Registrant Solicitating Materials	false
Co-Registrant PreCommencement Tender Offer	false
Co-Registrant PreCommencement Issuer Tender Offer	false
Co-Registrant Emerging Growth Company	false
	8501 Williams Road
	Estero
	Florida 33928
	239 301-7000

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT ~~Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934~~

~~Date~~Pursuant ofto ~~Report~~Section 13 ~~(Date~~or 15(d) of the ~~earliest~~Securities ~~event~~Exchange ~~reported)~~Act ~~February~~of ~~28, 2017 (February 27, 2017)~~1934

Date of Report (Date of earliest event reported) May 4, 2020

HERTZ GLOBAL HOLDINGS, INC.

THE HERTZ CORPORATION ~~(Exact name of registrant as specified in its charter)~~

DELAWARE	001-37665	61-1770902
DELAWARE	001-07541	13-1938568
(State of incorporation)	(Commission File Number)	(I.R.S Employer Identification No.)
	8501 Williams Road
	Estero, Florida 33928
	8501 Williams Road
	Estero, Florida 33928
	(Address of principal executive offices, including zip code)
	(239) 301-7000
	(239) 301-7000
	(Registrant’s telephone number, including area code)

(Exact name of registrant as specified in its charter)

Delaware	001-37665	61-1770902
Delaware	001-07541	13-1938568
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

8501 Williams Road

Estero, Florida 33928

239 301-7000

(Address, including Zip Code, and
telephone number, including area code,
of registrant's principal executive offices)

Not Applicable

(Former name, former address and
former fiscal year, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~ITEM~~Securities ~~2.02~~registered ~~RESULTS~~pursuant OFto ~~OPERATIONS~~Section 12(b) of ~~AND~~the ~~FINANCIAL CONDITION~~Act:

The information set forth in Item 7.01 is incorporated by reference into this Item 2.02.

	Title of Each Class	Trading Symbol(s)	Name of Each Exchange on which Registered
Hertz Global Holdings, Inc.	Common Stock par value $0.01 per share	HTZ	New York Stock Exchange
The Hertz Corporation	None	None	None

~~ITEM~~Indicate 7by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.01405 ~~REGULATION~~of FDthis ~~DISCLOSURE~~chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

OnEmerging ~~February~~growth ~~27, 2017, Hertz Global Holdings,~~company Inc. and The Hertz Corporation (collectively, “Hertz” or the “Company”) issued a press release with respect to the Company’s fourth quarter and full year 2016 financial results. A copy of the press release is attached as Exhibit 99.1 to this current report. The Company utilized certain non-GAAP financial measures in the press release that are detailed in the document attached as Exhibit 99.1 to this current report.¨

~~On February 28, 2017, the Company will conduct~~ If an ~~earnings~~emerging ~~webcast~~growth relating to the Company's financial results for the fourth quarter and full year 2016. The earnings webcast will be made available to the public via a link on the Investor Relations section of the Hertz websitecompany, ~~IR.Hertz.com,~~indicate ~~and~~by ~~the~~check ~~slides~~mark ~~that~~if ~~will accompany~~ the ~~presentation~~registrant ~~will~~has beelected ~~available~~not to ~~the~~use ~~public at~~ the ~~time~~extended oftransition ~~the~~period ~~earnings~~for complying ~~webcast~~with ~~through~~any ~~the~~new ~~Company's~~or ~~website.~~revised ~~Certain~~ financial ~~information~~accounting ~~relating~~standards toprovided ~~completed~~pursuant ~~fiscal~~to ~~periods that will be part of the earnings webcast is included in the set of slides that will accompany the earnings webcast,~~ Section 13(a ~~copy~~ ) of ~~which is attached hereto as Exhibit 99.2. The earnings webcast will include certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to~~ the ~~comparable~~Exchange ~~measures calculated and presented in accordance with GAAP are included in the Company's press release issued February 27, 2017 and attached hereto as part of Exhibit 99~~Act.1. ¨

~~This~~ITEM ~~information~~1.01 ~~shall~~ENTRY ~~not~~INTO beA ~~deemed~~MATERIAL ~~“filed”~~DEFINITIVE for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), except as shall be expressly set forth by specific reference in such a filingAGREEMENT.

~~CAUTIONARY~~On ~~NOTE~~May 4, ~~CONCERNING~~2020, ~~FORWARD~~Hertz Global Holdings, Inc. and The Hertz Corporation (collectively, “Hertz” or the “Company”) entered into forbearances and limited waivers with certain of the Company’s corporate lenders and holders of the Company’s asset-~~LOOKING~~backed ~~STATEMENTS~~vehicle debt. The forbearances and waivers, described below, provide Hertz with additional time through May 22, 2020 to engage in discussions with its key stakeholders with the goal to develop a financing strategy and structure that better reflects the economic impact of the COVID-19 global pandemic and Hertz’ ongoing operating and financing requirements.

~~Certain~~As ~~statements~~a ~~contained~~result inof ~~this report, and in related comments by~~ the ~~Company’s management, include “forward~~COVID-~~looking~~19 ~~statements.”~~global ~~Forward-looking~~pandemic, Hertz ~~statements include information concerning the Company’s liquidity~~ and its ~~possible~~subsidiaries orhave ~~assumed~~experienced ~~future~~a ~~results of operations~~rapid, ~~including~~sudden ~~descriptions~~and ofdramatic ~~its~~negative ~~business~~impact ~~strategies.~~on ~~These~~their statements often include words such as “believe,” “expect,” “project,” “potential,” “anticipate,” “intend,” “plan,” “estimate,” “seek,” “will,” “may,” “would,” “should,” “could,” “forecasts” or similar expressionsbusinesses. ~~These~~While ~~statements~~Hertz ~~are based on certain assumptions that the Company~~ has ~~made~~taken aggressive inaction ~~light~~to ofeliminate ~~its experience in the industry as well as its perceptions of historical trends~~costs, ~~current conditions, expected future developments and other factors~~ it ~~believes~~faces ~~are~~significant ~~appropriate~~ongoing inoperating ~~these circumstances. The Company believes these judgments are reasonable~~expenses, ~~but~~including ~~you~~monthly ~~should~~payments ~~understand~~under ~~that~~its ~~these statements are not guarantees of performance or results,~~ Amended and ~~the~~Restated ~~Company’s~~Master ~~actual~~Motor ~~results~~Vehicle ~~could~~Operating ~~differ~~Lease ~~materially from those expressed in the forward-looking statements due to a variety of important factors, both positive~~ and ~~negative,~~Servicing ~~that~~Agreement ~~may be revised or supplemented in subsequent reports on Forms 10~~(Series 2013-K,G1) ~~10-Q~~with ~~and~~Hertz ~~8-K~~Vehicle ~~filed~~Financing ~~or furnished to~~ LLC (the ~~Securities~~“Operating ~~and Exchange Commission ("SEC"~~Lease”)~~. Among other items~~, ~~such~~pursuant ~~factors could include: any claims, investigations or proceedings arising as a result of the restatement of our previously issued financial results; our ability~~ to ~~remediate~~which ~~the~~Hertz ~~material~~leases ~~weaknesses~~vehicles inused ~~our internal controls over financial reporting; levels of travel demand, particularly with respect to airline passenger traffic~~ in ~~the~~its United States ~~and in global markets; the effect of our separation of our vehicle and equipment~~ rental ~~businesses,~~car ~~any failure by Herc Holdings Inc~~operations. toAs previously ~~comply with the agreements entered into in connection with the separation and our ability to obtain the expected benefits of the separation; significant changes in the competitive environment~~reported, ~~including~~on ~~as a result of industry consolidation~~April 27, ~~and the effect of competition in our markets on rental volume and pricing~~2020, ~~including~~Hertz ondid ~~our~~not ~~pricing~~make ~~policies~~certain orpayments ~~use of incentives; increased vehicle costs due to declines~~ in ~~the~~accordance ~~value~~with of our non-program vehicles; occurrences that disrupt rental activity during our peak periods; our ability to purchase adequate supplies of competitively priced vehicles and risks relating to increases in the ~~cost~~Operating ofLease. ~~the~~This ~~vehicles we purchase; our ability to accurately estimate future levels of rental activity and adjust~~ caused the ~~number~~occurrence ~~and mix~~ of vehicles used in our rental operations accordingly; our ability to maintain sufficient liquidity and the availability to us of additional or continued sources of financing for our revenue earning vehicles and to refinance our existing indebtedness; our ability to adequately respond to changes in technology and customer demands; our ability to maintain access to third-party distribution channels, including current or favorable prices, commission structures and transaction volumes; an ~~increase~~amortization inevent ~~our~~on ~~vehicle costs or disruption to our rental activity~~May 1, ~~particularly~~2020 ~~during~~under ~~our peak periods, due to safety recalls by~~ the ~~manufacturers~~terms of ~~our vehicles;~~ a ~~major~~series ~~disruption in our communication or centralized information networks; financial instability~~ of ~~the~~debt ~~manufacturers~~instruments ofpursuant ~~our vehicles; any impact on us from the actions of our franchisees, dealers and independent contractors; our ability~~ to ~~sustain~~which ~~operations during adverse economic cycles~~ Hertz and ~~unfavorable~~its ~~external~~vehicle ~~events~~finance ~~(including~~subsidiaries ~~war,~~acquire ~~terrorist~~the ~~acts,~~leased ~~natural disasters and epidemic disease); shortages of~~ vehicles.

~~fuel~~On ~~and~~May 4, ~~increases~~2020, orHertz, ~~volatility~~Hertz inVehicle Financing ~~fuel~~LLC ~~costs;~~(“HVF”), ~~our~~Hertz ~~ability~~Vehicle toFinancing ~~successfully~~II ~~integrate~~LP ~~acquisitions~~(“HVF ~~and~~II”) ~~complete dispositions; our ability to maintain favorable brand recognition; costs~~ and ~~risks~~DTG ~~associated with litigation and investigations; risks related to our indebtedness~~Operations, Inc. ~~including~~entered ~~our~~into a ~~substantial~~forbearance ~~amount~~agreement of(the ~~debt,~~“Forbearance ~~our~~Agreement”). ~~ability~~HVF toII ~~incur~~is ~~substantially~~a ~~more~~special ~~debt,~~purpose ~~the~~financing ~~fact~~subsidiary that ~~substantially~~issues asset-backed ~~all~~notes ofto ~~our~~finance ~~consolidated~~the ~~assets~~acquisition ~~secure certain~~ of ~~our~~vehicles, ~~outstanding~~which ~~indebtedness~~HVF ~~and~~then ~~increases~~leases into ~~interest~~Hertz ~~rates~~pursuant orto inthe ~~our~~Operating ~~borrowing~~Lease. ~~margins;~~Hertz entered ~~our~~into ~~ability to meet~~ the ~~financial~~Forbearance ~~and~~Agreement ~~other~~with ~~covenants~~holders ~~contained~~(the in“VFN ~~our~~Noteholders”) ~~Senior~~of ~~Facilities,~~notes ~~our~~(the ~~outstanding unsecured Senior~~ “Series 2013-A Notes”) ~~and~~issued ~~certain~~by ~~asset-backed~~HVF ~~and~~II ~~asset-based~~representing ~~arrangements;~~approximately ~~changes~~60% in ~~accounting~~aggregate ~~principles,~~principal oramount ~~their~~of ~~application~~the orSeries 2013-A ~~interpretation,~~Notes. ~~and our ability~~ Pursuant to ~~make accurate estimates and~~ the ~~assumptions~~Forbearance ~~underlying~~Agreement, the ~~estimates,~~VFN ~~which~~Noteholders ~~could~~agreed ~~have~~to anforbear ~~effect~~from onexercising ~~operating~~rights ~~results;~~to ~~risks~~direct ~~associated with operating in many different countries, including the risk of~~ a ~~violation~~liquidation ~~or alleged violation~~ of ~~applicable~~vehicles which ~~anticorruption~~serve oras ~~antibribery~~collateral ~~laws~~supporting ~~and~~the ~~our ability to repatriate cash from non~~Series 2013-UA Notes.S. ~~affiliates~~The ~~without~~agreement ~~adverse~~with ~~tax consequences;~~ the ~~Company's~~VFN ~~ability~~Noteholders towill ~~successfully~~expire ~~outsource~~on aMay 22, 2020 ~~significant~~or, ~~portion~~if ofsooner, ~~its~~the ~~information~~date ~~technology~~on ~~services~~which orHertz ~~other~~fails ~~activities; our ability~~ to ~~successfully~~comply ~~implement~~with ~~its~~certain ~~finance~~agreements ~~and~~contained ~~information~~in ~~technology~~the ~~transformation~~forbearance ~~programs;~~agreement ~~changes~~or inanother amortization ~~the~~event ~~existing,~~occurs. orAs ~~the~~a ~~adoption~~result of ~~new~~the ~~laws,~~amortization ~~regulations,~~event ~~policies~~that oroccurred ~~other~~on ~~activities~~May 1, ~~of governments~~2020, ~~agencies~~ and ~~similar~~notwithstanding ~~organizations~~the ~~where~~Forbearance Agreement, ~~such~~proceeds ~~actions~~of ~~may affect our operations,~~ the ~~cost~~sales ~~thereof~~of orvehicles ~~applicable~~that ~~tax~~collateralize ~~rates; changes to our senior management team and~~ the ~~dependence~~Series 2013-A ofNotes ~~our~~must ~~business~~be ~~operations~~applied onto ~~our senior management team;~~ the ~~effect~~payment of principal ~~tangible~~ and ~~intangible~~interest ~~asset~~and ~~impairment~~will ~~charges;~~not ~~our~~be ~~exposure~~available to ~~uninsured~~finance ~~claims~~new invehicle ~~excess~~acquisitions offor ~~historical~~Hertz. ~~levels;~~However, ~~fluctuations~~ in ~~interest~~light ~~rates~~of ~~and~~the ~~commodity~~impact of ~~prices;~~the ~~our~~COVID-19 ~~exposure~~global topandemic ~~fluctuations~~on inthe ~~foreign~~travel ~~exchange~~industry, ~~rates~~Hertz ~~and~~believes ~~other~~it ~~risks~~will ~~described~~not ~~from~~need ~~time~~ to ~~time~~acquire innew ~~periodic~~vehicles ~~and~~for ~~current~~its ~~reports~~fleet ~~that~~through the weremainder ~~file~~of ~~with the SEC~~2020.

~~Additional~~Concurrently ~~information~~with ~~concerning~~entering ~~these~~into the Forbearance Agreement, on May 4, 2020, Hertz entered into limited waiver agreements (collectively, the “Waiver Agreements”) with certain of the lenders (the “Senior Lenders”) under its (i) senior term loan facility, (ii) letter of credit facility, (iii) alternate letter of credit facility and ~~other~~(iv) U.S. ~~factors~~vehicle ~~can~~revolving becredit ~~found~~facility (collectively, the “Senior Facilities”), pursuant to which the Senior Lenders agreed to (a) waive any default or event of default that could have resulted from the above referenced missed payment under the Operating Lease, (b) waive any default or event of default that has arisen as a result of Hertz’s failure to deliver its 2020 operating budget on a timely basis in ~~our~~accordance with ~~filings~~the Senior Facilities and (c) extend the grace period to cure a default with respect to Hertz’s obligation to reimburse drawings that occur under letters of credit during the ~~SEC~~waiver period. The Waiver Agreements are effective across the Senior Facilities and will expire on May 22, ~~including~~2020 ~~our~~or, ~~recent~~if ~~Quarterly~~sooner, ~~Reports~~the date on ~~Form~~which ~~10-Q~~Hertz ~~and~~fails ~~Current~~to ~~Reports~~comply with certain agreements contained in the Waiver Agreements, which include certain limitations on ~~Form~~the ~~8-K~~company’s ability to make certain restricted payments, investments and prepayments of indebtedness during the waiver period and a requirement to deliver certain financial information to the Senior Lenders during the waiver period. There can be no assurances that Hertz will be able to successfully negotiate any further forbearance or waivers extending relief past May 22, 2020.

~~You~~The ~~should~~foregoing ~~not~~descriptions ~~place~~of ~~undue~~the ~~reliance~~Forbearance Agreement onand ~~forward-looking~~Waiver ~~statements.~~Agreements ~~All~~do ~~forward-looking~~not ~~statements~~purport ~~attributable~~ to ~~the~~be ~~Company~~complete orand ~~persons~~are ~~acting~~subject onto, ~~its~~and ~~behalf are expressly~~ qualified in their entirety by reference to, the ~~foregoing~~full ~~cautionary~~text ~~statements.~~of ~~All~~the ~~such~~Forbearance ~~statements~~Agreement ~~speak~~or ~~only~~Waiver Agreements, as ~~of the date made~~applicable, ~~and~~copies ~~the~~of ~~Company~~which ~~undertakes~~are nofiled ~~obligation~~in toExhibits ~~update~~10.1, 10.2, or10.3, ~~revise~~10.4 ~~publicly~~and ~~any~~10.5 ~~forward-looking~~to ~~statements,~~this ~~whether~~current asreport aon ~~result~~Form 8-K ofand ~~new~~are ~~information,~~incorporated ~~future~~by ~~events~~reference ~~or otherwise~~herein.

ITEM 92.0103 CREATION OF A DIRECT FINANCIAL ~~STATEMENTS~~OBLIGATION ~~AND~~OR ~~EXHIBITS~~AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.

~~(d) Exhibits~~The information contained in Item 1.01 regarding the Forbearance Agreement and Waiver Agreements is incorporated by reference herein.

~~Exhibit~~ITEM 997.101 ~~Press~~REGULATION ~~Release~~FD ~~of Hertz Global Holdings, Inc~~DISCLOSURE. ~~and The Hertz Corporation dated February 27, 2017.~~

~~Exhibit~~In ~~99.2~~light ~~Set~~of the magnitude of ~~slides~~the effort that has already been undertaken and will ~~accompany~~continue to be necessary from critical employees to operate with reduced resources, the Company ~~February~~restored 28the base salaries of those employees who had voluntarily reduced their salaries as a proactive measure to reduce costs in response to COVID-19’s impact on travel demand, ~~2017~~as ~~earnings~~initially ~~webcast~~reported in the Company’s Current Report on Form 8-K furnished on March 26, 2020. Effective May 11, 2020, the base salaries of senior leaders will be restored to pre-voluntary reduction levels except that the Company’s Chief Executive Officer, Kathryn V. Marinello, who had previously voluntarily forgone her entire base salary, has voluntarily agreed to a 10% salary reduction going forward.

~~Exhibits~~The ~~99.1~~information ~~and~~contained 99in this Item 7.201 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, ~~nor~~as amended (the “Exchange Act”), and shall ~~they~~not be ~~deemed~~ incorporated by reference ininto any ~~filing~~filings under the Securities Act of 1933, as amended, or the Exchange Act, except as ~~shall~~may be expressly set forth by specific reference in asuch filing.

~~SIGNATURE~~ITEM 9.01 EXHIBITS.

~~Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.~~(d) Exhibits

HERTZ GLOBAL HOLDINGS, INC.THE HERTZ CORPORATION (Registrant) By: /s/ Thomas C. Kennedy Name: Thomas C. Kennedy Title: Senior Executive Vice President and Chief Financial Officer

Exhibit Number	Title
10.1	Forbearance Agreement, dated as of May 4, 2020, by and among The Hertz Corporation, a Delaware corporation, Hertz Vehicle Financing LLC, Hertz Vehicle Financing II LP, a Delaware special purpose limited partnership, whose general partner is HVF II GP Corp., a Delaware special purpose corporation, and whose limited partner is Hertz, DTG Operations, Inc., an Oklahoma corporation, Deutsche Bank AG, New York Branch, as administrative agent, and the several financial institutions that serve as committed note purchasers, the several commercial paper conduits, and certain funding agents for the investor groups, in each case, party thereto.
10.2	Limited Waiver, Forbearance and Fourth Amendment, dated as of May 4, 2020, in connection with that certain Credit Agreement, dated as of June 30, 2016 (as amended by the First Amendment, dated as of February 3 2017, the Second Amendment, dated as of February 15, 2017, and the Third Amendment, dated as of November 2, 2017, by and among The Hertz Corporation, the other loan parties party thereto, the several banks and other financial institutions parties thereto as lenders and administrative agent.
10.3	Limited Waiver, Forbearance and First Amendment, dated as of May 4, 2020, in connection with that certain Credit Agreement, dated as of December 13, 2019, by and among The Hertz Corporation, the other loan parties party thereto, the several banks and other financial institutions parties thereto as lenders, the issuing lender and administrative agent.
10.4	Limited Waiver, Forbearance and First Amendment, dated as of May 4, 2020, in connection with that certain Letter of Credit Agreement, dated as of November 2, 2017, by and among The Hertz Corporation, the other credit parties party thereto, the several banks and other financial institutions parties thereto as lenders and administrative agent.
10.5	Limited Waiver and First Amendment, dated as of May 4, 2020, in connection with that certain Credit Agreement, dated as of June 30, 2016, by and among The Hertz Corporation, the other loan parties party thereto, the several banks and other financial institutions parties thereto as lenders and administrative agent.
101.1	Pursuant to Rule 406 of Regulation S-T, the cover page to this Current Report on Form 8-K is formatted in Inline XBRL
104.1	Cover Page Interactive Data File (Embedded within the Inline XBRL document and included in Exhibit 101.1)

~~Date: February~~CAUTIONARY ~~28,~~NOTE ~~2017~~REGARDING FORWARD-LOOKING STATEMENTS

This Current Report on Form 8-K contains “forward-looking statements” within the meaning of federal securities laws, including statements related to our liquidity and fleet financing expectations and the expected effects on our business, financial condition and results of operations due to the spread of the COVID-19 virus. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including those in our risk factors that we identify in our most recent annual report on Form 10-K for the year ended December 31, 2019, as filed with the Securities and Exchange Commission on February 25, 2020. We caution you not to place undue reliance on our forward-looking statements, which speak only as of the date of this filing, and we undertake no obligation to update this information.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	HERTZ GLOBAL HOLDINGS, INC. THE HERTZ CORPORATION
	(each, a Registrant)


	By:	/s/ JAMERE JACKSON
	Name:	Jamere Jackson
	Title:	Executive Vice President and Chief Financial Officer

Date: May 5, 2020

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