EX-10.2



 Exhibit 10.2 

AMENDED & RESTATED 

EXTENDED STAY AMERICA, INC. 

LONG-TERM INCENTIVE PLAN 

RESTRICTED STOCK UNIT AGREEMENT 

(Time-Vesting) 
 THIS AWARD
AGREEMENT (the “Agreement”) is made effective as of [            ], 2015, between Extended Stay America, Inc. (the “Company”), a Delaware corporation, and
____________ (the “Grantee”). Capitalized terms used but not defined in this Agreement shall have the meaning attributed to such terms under the Plan. 

WHEREAS, the Company desires to grant the restricted stock units (the “RSUs”) (the “Award”) provided for
herein to the Grantee pursuant to the Amended and Restated Extended Stay America, Inc. Long-Term Incentive Plan (the “Plan”) and the terms and conditions set forth herein. 

NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties agree as follows: 

 

	1.	Grant of Award. 

 The Company hereby grants to the Grantee, __________ RSUs subject to
time vesting. Subject to the provisions of this Agreement and the Plan, each vested RSU represents the right to receive one (1) Paired Share. The RSUs shall apply only with respect to a whole number of Paired Shares. 

 

	2.	Vesting. 

 (a) On each of the first, second and third anniversaries of
[            ] (the “Vesting Commencement Date”) (each date, a “Vesting Date”) and subject to the terms and conditions hereof and the Grantee’s
continued employment with the Company or any of its Subsidiaries through the applicable Vesting Date, a portion of the RSUs shall vest and no longer be subject to cancellation pursuant to Section 3 as follows: 

 

			
	Anniversary of Vesting Commencement Date		Percent of RSUs Vesting
	First		33 1/3%
	Second		33 1/3%
	Third		33 1/3%

 (b) Change in Control. Notwithstanding Section 2(a), all of the Grantee’s
outstanding RSUs that are not vested as of the date of a Change in Control shall vest immediately upon such Change in Control. 
  

	3.	Effect of Termination of Service. 

 Except as otherwise provided in this Agreement or as
otherwise determined by the Committee, if the Grantee’s employment with the Company and its Subsidiaries and Affiliates Terminates for any reason, all RSUs that are not vested as of the date of such Termination (and the right to any payment in
respect of dividends or distributions pursuant to Section 7 with respect to such RSUs) shall be forfeited for no consideration and the Grantee shall have no further rights with respect to such RSUs. 

  
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	4.	Settlement. 

 Upon the 15th day of
March in the calendar year (or, in any year when the 15th of March falls on a non-business day, the business day immediately prior to such date) next following the applicable Vesting Date, each
RSU which has vested as of such Vesting Date shall be settled, and in settlement thereof, (i) the Company shall issue to the Grantee one share of common stock of the Company (a “Company Common Share”) and (ii) ESH REIT
shall issue to the Grantee one share of Class B stock of ESH Hospitality, Inc. ( “ESH REIT”) (a “Class B REIT Share”), which Company Common Share and Class B REIT Share shall be stapled together as a Paired Share,
as described in the Plan. 
  

	5.	Restrictions on Transfer. 

 (a) The RSUs subject to this Award may not be
sold, transferred, assigned or otherwise disposed of, and may not be pledged or otherwise hypothecated (other than pursuant to a definitive agreement executed by the Company in connection with a Corporate Transaction). 

(b) Any Paired Shares received in settlement of the RSUs pursuant to Section 4 shall be subject to (i) any transfer
or other restrictions set forth in any agreement with the Company or ESH REIT to which the Grantee is party and (ii) the share ownership guidelines of the Company and ESH REIT. 

 

	6.	Rights as Stockholder. 

 A RSU is not a Paired Share, and thus, the Grantee will have no
rights as a stockholder with respect to the RSUs. 
  

	7.	Dividend Equivalent Rights. 

 In the event of a dividend or other distribution
made in respect of Paired Shares, a Grantee will be entitled to receive, in respect of each RSU underlying the Award, the per Paired Share amount received by other stockholders in respect of a Paired Share in connection with such dividend,
provided, however, that any entitlement to or payment of dividends or distributions declared or paid on the Paired Shares shall be owing and paid to the Grantee only at the same time as the RSUs in respect of which such dividends or
distributed are settled pursuant to this Agreement. 
  

	8.	No Right to Continued Employee Status. 

 Nothing contained in this Agreement shall confer
upon the Grantee the right to the continuation of his or her Employee status or to interfere with the right of the Company or any of its Subsidiaries or other Affiliates to terminate the Grantee’s employment. 

 

	9.	Taxation. 

 The Grantee understands that when the RSUs are settled in accordance with
Section 4, the Grantee will be obligated to recognize income, for Federal, state and local income tax purposes, as applicable, in an amount equal to the Fair Market Value of the Paired Shares as of such date, and the Grantee is responsible for
all tax obligations that arise in connection with the RSUs. 
 The issuance of any Company Common Shares or Class B REIT Shares shall be
subject to the Grantee’s satisfaction of all applicable tax withholding obligations in cash or in such other manner as may be approved by the Committee. The Grantee may elect to have the Company and ESH REIT withhold a


  
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number of Company Common Shares and Class B REIT Shares, as applicable, together having an aggregate equal to the tax withholding amounts due with respect to settlement of the RSUs. The Company
shall have the right to require that the Grantee furnish information deemed necessary by the Company to meet any tax reporting obligation as a condition to issuing and releasing any Paired Shares pursuant to the Award. 

 

	10.	Delivery of Shares and Restrictive Legend. 

 (a) Certificates or evidence
of book-entry shares representing the Paired Shares issued upon settlement of RSUs pursuant to Section 4 of this Agreement will be delivered to or otherwise made available to the Grantee (or, at the discretion of the Grantee, joint in the names
of the Grantee and the Grantee’s spouse) or to the Grantee’s nominee at such person’s request. 
 (b) The
certificates representing the Paired Shares issued upon settlement of RSUs pursuant to Section 4 shall be subject to such stop transfer orders and other restrictions as set forth in the Company’s certificate of incorporation and ESH
REIT’s certificate of incorporation, and as the Committee may deem advisable under the Plan or under applicable state and Federal securities or other laws, or under any ruling or regulation of any governmental body or national securities
exchange unless an exemption to such registration or qualification is available and satisfied. The Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

 

	11.	Securities Laws. 

 The obligation of the Company and ESH REIT, as applicable, to issue
and deliver the RSUs and any Paired Shares hereunder shall be subject to all applicable laws, rule and regulations, and such approvals by governmental agencies as may be required. The Grantee hereby agrees not to offer, sell or otherwise attempt to
dispose of any Paired Shares issued to the Grantee pursuant to this Agreement in any way which would: (x) require the Company or ESH REIT to file any registration statement with the Securities and Exchange Commission (or any similar filing
under state law or the laws of any other county) or to amend or supplement any such filing or (y) violate or cause the Company or ESH REIT to violate the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, the
rules and regulations promulgated thereunder, or any other Federal, state or local law, or the laws of any other country. 
  

	12.	Modification of the Agreement. 

 This Agreement may not be modified, amended, terminated
and no provision hereof may be waived in whole or in part except by a written agreement signed by the Company, ESH REIT and the Grantee and no modification shall, without the consent of the Grantee, alter to the Grantee’s detriment or impair
any rights of the Grantee under this Agreement except to the extent permitted under the Plan. 
  

	13.	Notices. 

 Unless otherwise provided herein, any notices or other communication given or
made pursuant to this Agreement or the Plan shall be in writing and shall be deemed to have been duly given (i) as of the date delivered, if personally delivered (including receipted courier service) or overnight delivery service, with
confirmation of receipt; (ii) on the date the delivering party receives confirmation, if delivered by facsimile to the number indicated or by email to the address indicated or through an electronic administrative system designated by the
Company; (iii) one (1) business day after being sent by reputable commercial overnight delivery service courier, with confirmation of receipt; or (iv) three (3) business 

  
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days after being mailed by registered or certified mail, return receipt requested, postage prepaid and addressed to the intended recipient as set forth below: 

 

					
	 If to the Company:
		 11525 N. Community House Road, Suite 100


Charlotte, North Carolina 28277
 Facsimile: 980.335.3233

Attn: John R. Dent
  
		
			
	If to ESH REIT:		 11525 N. Community House Road, Suite 100

Charlotte, North Carolina 28277
 Facsimile: 980.335.3233

Attn: John R. Dent
		

 If to the Grantee, at the most recent address, facsimile number or email contained in the Company’s
records. 
  

	14.	Agreement Subject to Plan and Applicable Law. 

 This Award is made pursuant to the Plan
and shall be interpreted to comply therewith. A copy of the Plan is attached hereto. Any provision of this Award inconsistent with the Plan shall be considered void and replaced with the applicable provision of the Plan. The Plan shall control in
the event there shall be any conflict between the Plan and this Agreement, and it shall control as to any matters not contained in this Agreement. The Committee shall have authority to make constructions of this Agreement, and to correct any defect
or supply any omission or reconcile any inconsistency in this Agreement, and to prescribe rules and regulations relating to the administration of this Award and other Awards granted under the Plan. 

This Award shall be governed by the laws of the State of Delaware, without regard to the conflicts of law principles thereof, and subject to
the exclusive jurisdiction of the courts therein. 
  

	15.	Headings. 

 Headings are for convenience only and are not deemed to be part of this
Agreement. Unless otherwise indicated, any reference to a Section herein is a reference to a Section of this Agreement. 
  

	16.	Severability and Reformation. 

 If any provision of this Agreement shall be determined by
a court of law to be unenforceable for any reason, such unenforceability shall not affect the enforceability of any of the remaining provisions hereof; and this Agreement, to the fullest extent lawful, shall be reformed and construed as if such
unenforceable provision, or part thereof, had never been contained herein, and such provision or part thereof shall be reformed or construed so that it would be enforceable to the maximum extent legally possible. 

 

	17.	Clawback. This Award shall be subject to clawback or recapture to the extent required by applicable law. 

  

	18.	Binding Effect. 

 This Agreement shall be binding upon the parties hereto, together with
their personal executors, administrator, successors, personal representatives, heirs and permitted assigns. 

  
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	19.	Entire Agreement. 

 This Agreement supersedes all prior written and oral agreements and
understandings among the parties as to its subject matter and constitutes the entire agreement of the parties with respect to the subject matter hereof, except to the extent that the Plan may be considered to address the subject matter hereof. If
there is any conflict between this Agreement and the Plan, then the applicable terms of the Plan shall govern. 
  

	20.	Waiver. 

 Waiver by any party of any breach of this Agreement or failure to exercise any
right hereunder shall not be deemed to be a waiver of any other breach or right whether or not of the same or a similar nature. The failure of any party to take action by reason of such breach or to exercise any such right shall not deprive the
party of the right to take action at any time while or after such breach or condition giving rise to such rights continues. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Award as of the date first above
written. 
  

			
	EXTENDED STAY AMERICA, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	


  

			
	GRANTEE
		
	 By:
	 	 
	 Name:
	 	


 The terms of this Award and the issuance of the 

Class B REIT Shares covered by the Award have 
 been approved
pursuant to the Amended & Restated 
 ESH Hospitality, Inc. Long-Term Incentive Plan. 

 

			
	ESH HOSPITALITY, INC.
		
	By:	 	 
	 Name:
	 	
	Title:	 	


  
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