AMENDMENT TO
STRATEGIC HOTELS & RESORTS, INC.
SECOND AMENDED AND RESTATED 2004 INCENTIVE PLAN
PERFORMANCE SHARE AWARD AGREEMENT
We agree that the Performance Share Award Agreement we executed as of February
___, 2012 with respect to the Performance Share Award for the Performance Period
January 2, 2012 through December 31, 2014 (“Performance Award Agreement”) is
hereby amended to delete the second paragraph of Section 3. Change of Control
and substitute the following therefor:
All payments under this Performance Share Award with respect to a Change of
Control constituting a Go Private Change of Control Transaction may be paid in,
at the Company’s discretion, either (1) shares of Common Stock prior to the Go
Private Change of Control Transaction at such time and in such manner that you
may participate fully as a holder of shares of Common Stock in the Go Private
Change of Control Transaction or (2) cash. For purposes of this Performance
Share Award, a “Go Private Change of Control Transaction” shall be deemed to
have occurred if on or immediately following the Change of Control no shares of
Common Stock or other common stock of the Company (or any successor) are traded
on a national securities exchange.
In all other respects, the Performance Award Agreement, as amended, remains in
full force and effect.
STRATEGIC HOTELS & RESORTS, INC.
By: ______________________________________    
Its: ______________________________________    

__________________________________________    
(Employee Name)

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