We are committed to update you about Magic of YPO’s Abracadabra! 2020 and the coronavirus each week on Tuesday following our weekly meetings OR as information becomes available.

The start of Abracadabra! 2020 is still more than 60 days from today and, like all events after 08 May 2020, is being evaluated independently.

At this time, the event will be presented as scheduled 13 May – 17 May 2020. This continues to be subject to change.

We appreciate that the situation remains uncertain and that it continues to evolve as new facts about the virus and its spread and impact in the United States are learned.

We also know that our guests represent a broad and diverse group with different levels of tolerance for uncertainty and risk.

We continue to work to make thoughtful decisions that reflect both the uncertainty and the risk attendant to this event given the risks, mitigations and exposures specific to this event.

At this time, Walt Disney World and Universal Studios remain open.

The parks are hosting an average of almost 250,000 guest and cast members each day. Disney and Universal Studios are accustomed to health safety issues, have very detailed plans for protective and preventative actions and, as you can imagine under the circumstances, are very attentive to the training and compliance required to make those effective. We recognize that this could change too and we will evaluate should there be a change to their operations.

At this time, our team meets regularly on this issue and it remains at the top of our agenda each week.

As we have stated before, we continue to monitor information provided by authoritative sources including the World Health Organization, the Centers for Disease Control and the Florida Department of Health. We are also working with the Walt Disney Company, Orange County Department of Health and the Reedy Creek Improvement District to understand preparedness and response plans. And our cast is planning for additional preventative and protective actions to supplement those Disney has planned for its regular guests.

At this time, our financial exposure for the event is substantially fixed.

Our agreements contain liquidated damages clauses that cap our liabilities. Additional financial commitments are known and scheduled for a time far closer to the event and the timing of fulfilling those commitments is subject to further negotiation under the circumstances. Our agreements also contain force majeure provisions that would further limit our liabilities should certain circumstances physically prevent us from performing under our agreements. We are very sensitive to financial issues.

At this time, the event will be presented as scheduled 13 May – 17 May 2020.

We recognize that each of you will make a very personal choice about your own tolerance for uncertainty and for risk.

And, we respect that different people may make different but thoughtful decisions.

We hope you recognize that we are also trying to make thoughtful ones.

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