Document:

Amended and Restated Note

 Exhibit 10.4 
 AMENDED AND RESTATED NOTE 
 (Mortgage Loan) 
  

			
	New York, New York	  	
	$90,000,000	  	October 6, 2006

 AMENDED AND RESTATED NOTE, dated as of October 6, 2006 (this “Note”),
by SHC Chopin Plaza, LLC, a Delaware limited liability company (the “Borrower”), having an office at c/o Strategic Hotel Funding, L.L.C., 77 West Wacker Drive, Suite 4600, Chicago, Illinois 60601, in favor of
CITIGROUP GLOBAL MARKETS REALTY CORP., a New York corporation (together with its successors and assigns, “Lender”), having an address at 388 Greenwich Street, New York, New York 10013. 
 R E C I T A L S 
 WHEREAS, Lender is the
holder of the indebtedness evidenced by that certain amended and restated note, dated October 28, 2005, made by Borrower to GERMAN AMERICAN CAPITAL CORPORATION, in the original principal amount of $149,000,000, which note has been assigned in
full to Lender and then severed pursuant to the Note Severance Agreement between Borrower, SHC MICHIGAN AVENUE, LLC and Lender, dated the date hereof with one of the severed notes being in the original principal amount of $59,747,525.00, being made
by Borrower to Lender (“Original Note”), which Original Note shall be amended and restated hereof.; 
 WHEREAS,
pursuant to this Note, Borrower and Lender have agreed to amend and restate the terms of the Original Note to increase the aggregate principal amount evidenced by this Note to the amount of the Loan; and 
 WHEREAS, this Note shall amend, restate and supersede, in their entirety the Original Note, and this Note shall hereafter evidence the Loan. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties hereto hereby covenant and
agree as follows, effective as of the date first above written: 
 (A) Borrower’s indebtedness as evidenced by this Note is Ninety
Million and No/100 Dollars ($90,000,000), evidencing the principal portion of the Loan in such amount, together with interest thereon as hereinafter provided. 
 (B) The Original Note is hereby amended and restated in its entirety to read as follows, and, as so amended and restated, is hereby superseded in its entirety: 

 CONSOLIDATED, AMENDED AND RESTATED NOTE 
  

			
	$90,000,000	 	New York, New York
		 	October 6, 2006

 NOW, THEREFORE, FOR VALUE RECEIVED, SHC Chopin Plaza, LLC, a Delaware limited liability company
(the “Borrower”), having an office at c/o Strategic Hotel Funding, L.L.C., 77 West Wacker Drive, Suite 4600, Chicago, Illinois 60601, promises to pay to the order of CITIGROUP GLOBAL MARKETS REALTY CORP., a New
York corporation (together with its successors and assigns, “Lender”), having an address at 388 Greenwich Street, New York, New York 10013, the Principal Amount (as defined below), together with interest from the date
hereof and other fees, expenses and charges as provided in this Note. 
 This Consolidated, Amended and Restated Note in the original
principal amount of $90,000,000 (this “Note”), which Note intends to consolidate, amend and restate in their entirety that certain amended and restated note, dated as of October 28, 2005, in the original principal amount
of $149,000,000 given by Borrower to German American Capital Corporation which note has been assigned in full to Lender and then severed pursuant to the Note Severance Agreement between Borrower, SHC MICHIGAN AVENUE, LLC and Lender, dated the date
hereof with one of the severed notes being in the original principal amount of $59,747,525.00, being made by Borrower to Lender (the “Original Note”) and made a part hereof to evidence a loan in the aggregate principal amount
of Ninety Million and No/100 Dollars ($90,000,000) (the “Loan”). The Original Note is now held by Lender. This Note is not intended to create any new indebtedness nor intended to constitute a novation as to Borrower’s obligations
under the Original Note, as such obligations are consolidated, amended and restated by this Note. 
 Section 1. Defined Terms.

 a. Capitalized terns used but not otherwise defined herein shall have the respective meanings given thereto in the Loan Agreement (as
defined below), unless otherwise expressly provided herein. All references to sections shall be deemed to be references to sections of this Note, unless otherwise indicated. 
 b. The following terms shall have the meanings ascribed thereto: 
 “Borrower” shall have the meaning provided in the first paragraph hereof. 
 “Default Rate” shall mean, with respect to an acceleration of the Loan, a rate per annum equal to the lesser of (a) the Maximum Legal Rate and (b) three percent (3%) above the LIBOR Rate, adjusted from
time to time as set forth herein. 
 “Extension Notice” shall mean the First Extension Notice, the Second Extension
Notice or the Third Extension Notice, as applicable. 
 “Extension Option” shall mean the First Extension Option, the
Second Extension Option and the Third Extension Option, as applicable. 
  

 -2- 

 “First Extended Maturity Date” shall have the meaning set forth in
Section 5(a). 
 “First Extension Notice” shall have the meaning set forth in Section 5(a).

 “First Extension Option” shall have the meaning set forth in Section 5(a). 
 “Initial Maturity Date” shall mean October 9, 2008. 
 “Interest Determination Date” shall mean, with respect to each Interest Period, the date which is two (2) Business Days
prior to the fifteenth (15th) day of each calendar month. 
 “Interest Period” shall mean each interest period
commencing on the fifteenth (15th) calendar day of a calendar month and ending on (and including) the fourteenth (14th) calendar day of the following calendar month; provided that the first interest period shall commence on the date
hereof. 
 “Lender” shall have the meaning provided in the first paragraph hereof. 
 “LIBOR” shall mean, with respect to any Interest Determination Date, the rate (expressed as a percentage per annum rounded
upwards, if necessary, to the nearest one thousandth (1/1000) of one percent (1%)) for deposits in U.S. Dollars for a one (1) month period that appears on Telerate Page 3750 (as defined below) as of 11:00 a.m., London time,
on such Interest Determination Date. If such rate does not appear on Telerate Page 3750 as of 11:00 a.m., London time, on the applicable Interest Determination Date, the Lender shall request the principal London office of any four
(4) prime banks in the London interbank market selected by the Lender to provide such banks’ quotations of the rates at which deposits in U.S. Dollars are offered by such banks at approximately 11:00 a.m., London time, to prime banks
in the London interbank market for a one (1) month period commencing on the first day of the related Interest Period and in a principal amount that is representative for a single transaction in the relevant market at the relevant time. If at
least two (2) such offered quotations are so provided, LIBOR will be the arithmetic mean of such quotations (expressed as a percentage and rounded upwards, if necessary, to the nearest one thousandth (1/1000) of one percent (1%)). If fewer
than two (2) such quotations are so provided, the Lender will request major banks in New York City selected by the Lender to quote such banks’ rates for loans in U.S. Dollars to leading European banks as of approximately 11:00 a.m.,
New York City time, on the applicable Interest Determination Date for a one (1) month period commencing on the first day of the related Interest Period and in an amount that is representative for a single transaction in the relevant market at
the relevant time. If at least two (2) such rates are so provided, LIBOR will be the arithmetic mean of such rates (expressed as a percentage and rounded upwards, if necessary, to the nearest one thousandth (1/1000) of one percent (1%)).
If fewer than two (2) rates are so provided, then LIBOR will be LIBOR used to determine the LIBOR Rate during the immediately preceding Interest Period. 
 “LIBOR Margin” shall mean Seventy-Three basis points (0.73%) per annum. 
 “LIBOR Rate” shall mean, with respect to each Interest Period, an interest rate per annum equal to the sum of (a) LIBOR, determined as of the Interest Determination Date immediately preceding the commencement of
such Interest Period, plus (b) the LIBOR Margin. 
  

 -3- 

 “Loan Agreement” shall mean the Loan and Security Agreement, dated the date
hereof, between Borrower and Lender. 
 “Maturity Date” shall mean the initial Maturity Date, provided that
(a) in the event of the exercise by Borrower of the First Extension Option pursuant to Section 5(a) of this Note, the Maturity Date shall be the First Extended Maturity Date, (b) in the event of the exercise by Borrower of the
Second Extension Option pursuant to Section 5(a) of this Note, the Maturity Date shall be the Second Extended Maturity Date, and (c) in the event of the exercise by Borrower of the Third Extension Option pursuant to
Section 5(a) of this Note, the Maturity Date shall be the Third Extended Maturity Date, or such earlier date on which the final payment of principal of this Note becomes due and payable as provided in the Loan Agreement or this Note,
whether at such stated maturity date, by declaration of acceleration, or otherwise (including, without limitation, as a result of an acceleration thereof, a refinancing or otherwise). 
 “Maturity Date Payment” shall have the meaning set forth in Section 3(d). 
 “Note” shall have the meaning provided in the first paragraph hereof. 
 “Payment Date” shall be the ninth (9th) calendar day of each calendar month and if such day is not a Business Day, then the
Business Day immediately preceding such day, commencing on November 9, 2006 and continuing to and including the Maturity Date. 
 “Prepayment Date” shall have the meaning provided in Section 4(a)(i). 
 “Prepayment
Fee” shall mean a non-refundable fee equal to, in connection with Borrower’s payment of the Loan (or any part thereof, to the extent permitted by the Loan Documents) after the Closing Date to the Payment Date in October, 2007, the
Spread Maintenance Premium. No Prepayment Fee shall be due on any payments on or after the Payment Date in October, 2007. The Prepayment Fee shall be payable simultaneously with Borrower’s payment of the Principal Amount. 
 “Prepayment Notice” shall have the meaning provided in Section 4(a)(i). 
 “Principal Amount” shall mean Ninety Million Dollars ($90,000,000) or so much as may be outstanding under this Note from time to
time. 
 “Second Extended Maturity Date” shall have the meaning set forth in Section 5(a). 
 “Second Extension Notice” shall have the meaning set forth in Section 5(a). 
 “Second Extension Option” shall have the meaning set forth in Section 5(a). 
 “Spread Maintenance Premium” shall mean with respect to any repayment of the outstanding principal amount of the Loan after the
Closing Date to the Payment Date in October, 2007, a payment to Lender in an amount equal to the sum of the present value of each future installment of interest that would be payable under this Note on the outstanding principal amount of the Loan
from the date of such prepayment through, but excluding, the Initial Maturity Date assuming an interest rate equal to the LIBOR Margin, discounted at an interest rate per annum equal to LIBOR as of the date of such payment. 
  

 -4- 

 “Telerate Page 3750” shall mean the display designated as
“Page 3750” on the Dow Jones Telerate Service (or such other page as may replace Page 3750 on that service) or such other service as may be nominated by the British Bankers’ Association as the information vendor for the
purpose of displaying British Bankers’ Association Interest Settlement Rates for U.S. Dollar deposits. 
 “Third
Extended Maturity Date” shall have the meaning set forth in Section 5(a). 
 “Third Extension
Notice” shall have the meaning set forth in Section 5(a). 
 “Third Extension Option” shall
have the meaning set forth in Section 5(a). 
 Section 2. Interest. 
 a. Prior to the Maturity Date, interest shall accrue on the Principal Amount as follows: 
 i. From and including the date hereof to, but not including, October 15, 2006, at a rate per annum equal to 6.05000%; and 

ii. From and including October 15, 2006, and thereafter during each Interest Period during the term of this Note, at the LIBOR
Rate. 
 b. From and after the Maturity Date and from and after the occurrence and during the continuance of any Event of Default, interest
shall accrue on the Principal Amount at the Default Rate. 
 c. Except as expressly set forth in the Loan Agreement to the contrary, interest
shall accrue on all amounts advanced by Lender pursuant to the Loan Documents (other than the Principal Amount, which shall accrue interest in accordance with clauses a. and b. above) at the Default Rate. 
 d. Interest, for any given Interest Period, shall be computed on the Principal Amount on the basis of a fraction, the denominator of which shall be 360
and the numerator of which shall be the actual number of days in the relevant Interest Period. 
 e. The provisions of this
Section 2 are subject in all events to the provisions of Section 2.2.4 of the Loan Agreement. 
 Section 3.
Payments. 
 a. On each Payment Date, Borrower shall pay to Lender interest accruing hereunder during the entire Interest Period in
which said Payment Date occurs. 
  

 -5- 

 b. All payments made by Borrower hereunder or under any of the Loan Documents shall be made on or before
12:00 noon New York City time. Any payments received after such time shall be credited to the next following Business Day. 
 c. All
amounts advanced by Lender pursuant to the Loan Documents, other than the Principal Amount, or other charges provided in the Loan Documents, shall be due and payable as provided in the Loan Documents. In the event any such advance or charge is not
so repaid by Borrower, Lender may, at its option, first apply any payments received under this Note to repay such advances, together with any interest thereon, or other charges as provided in the Loan Documents, and the balance, if any, shall be
applied in payment of any installment of interest or principal then due and payable. 
 d. The entire Principal Amount of this Note, all
unpaid accrued interest, all interest that would accrue on the Principal Amount through the end of the Interest Period during which the Maturity Date occurs (even if such period extends beyond the Maturity Date) and all other fees and sums then
payable hereunder or under the Loan Documents, including, without limitation the Prepayment Fee, if applicable (collectively, the “Maturity Date Payment”), shall be due and payable in full on the Maturity Date. 
 e. Amounts due on this Note shall be payable, without any counterclaim, setoff or deduction whatsoever, at the office of Lender or its agent or designee
at the address set forth on the first page of this Note or at such other place as Lender or its agent or designee may from time to time designate in writing. 
 f. All amounts due under this Note, including, without limitation, interest and the Principal Amount, shall be due and payable in lawful money of the United States. 
 g. To the extent that Borrower makes a payment or Lender receives any payment or proceeds for Borrower’s benefit, which are subsequently
invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, debtor in possession, receiver, custodian or any other party under any bankruptcy law, common law or equitable cause, then, to such extent, the
obligations of Borrower hereunder intended to be satisfied shall be revived and continue as if such payment or proceeds had not been received by Lender. 
 Section 4. Prepayments. 
 a. Voluntary Prepayments. Borrower shall have the right
on any Payment Date to prepay the Principal Amount in whole or in part, upon satisfaction of the following conditions: 
 i.
Borrower shall provide prior written notice (the “Prepayment Notice”) to Lender specifying the proposed Payment Date on which the prepayment is to be made, which date shall be no earlier than thirty (30) days after the
date of such Prepayment Notice (the date of a prepayment pursuant to this Section 4(a) and Section 4(b) below being the “Prepayment Date”). Any such Prepayment Notice shall be revocable by Borrower
provided, however, if Borrower elects to so revoke a Prepayment Notice, Borrower shall reimburse Lender for the actual out-of-pocket expenses incurred by Lender in connection with such revocation; 
  

 -6- 

 ii. Borrower shall comply with the provisions set forth in Section 4(c) of
this Note; and 
 iii. No voluntary prepayment shall be permitted on any date other than a Payment Date. 
 b. Mandatory Prepayments. 
 i. On the next occurring Payment Date following the date on which Borrower actually receives any Proceeds (other than Proceeds with respect to business interruption insurance maintained pursuant to
Section 6.1.4 of the Loan Agreement), if Lender is not obligated to make and does not make such Proceeds available to Borrower for the restoration of the Property, Borrower shall prepay the outstanding principal balance of the Note in an
amount equal to one hundred percent (100%) of such Proceeds, but in such event no Prepayment Fee shall be payable; and 
 ii. Borrower shall comply with the provisions set forth in Section 4(c) of this Note. 
 c. Payments in Connection
with a Prepayment. 
 i. On the date on which a prepayment, voluntary or mandatory, is made under this Note or as
required under the Loan Agreement, Borrower shall pay to Lender all unpaid interest on the Principal Amount prepaid, such unpaid interest calculated, (1) in the event prepayment is made from the fifteenth (15th) day of any calendar month
through the ninth (9th) day of the succeeding calendar month, through the end of the Interest Period during which such prepayment occurs and (2) in the event such prepayment is made from the Interest Determination Date in any calendar
month through the fourteenth (14th) day of any calendar month, through the end of the Interest Period next succeeding the Interest Period in which such prepayment occurs. In either case, accrued interest shall be calculated as if such Interest
Period extends beyond the date of such prepayment and be calculated as if the Loan has not been prepaid on such date. 
 ii.
On the Prepayment Date, Borrower shall pay to Lender all other sums, not including scheduled interest payments but including and not limited to, the Prepayment Fee, then due under the Note, the Loan Agreement, the Security Instrument, and the other
Loan Documents; and 
 d. Borrower shall pay all costs and expenses of Lender incurred in connection with the prepayment (including without
limitation, any costs and expenses associated with a release of the Lien of the related Security Instrument as set forth in Section 2.3.3 of the Loan Agreement as well as reasonable attorneys’ fees and expenses). 
 Section 5. Extension Option. 
 a. Extension Option. Subject to the provisions of this Section 5, Borrower shall have the option (the “First Extension Option”), by irrevocable written notice (the “First
Extension Notice”) delivered to Lender no later than thirty (30) days prior to the Initial Maturity 
  

 -7- 

 Date, to extend the Maturity Date to October 9, 2009 (the “First Extended Maturity Date”).
In the event Borrower shall have exercised the First Extension Option, Borrower shall have the option (the “Second Extension Option”), by irrevocable written notice (the “Second Extension Notice”)
delivered to Lender no later than thirty (30) days prior to the First Extended Maturity Date, to extend the First Extended Maturity Date to October 9, 2010 (the “Second Extended Maturity Date”). In the event
Borrower shall have exercised the Second Extension Option, Borrower shall have the option (the “Third Extension Option”), by irrevocable written notice (the “Third Extension Notice”) delivered to
Lender no later than thirty (30) days prior to the Second Extended Maturity Date, to extend the Second Extended Maturity Date to October 9, 2011 (the “Third Extended Maturity Date”). Borrower’s right to so
extend the Maturity Date shall be subject to the satisfaction of the following conditions precedent prior to each extension hereunder: 
 i. No Monetary Default or Event of Default shall have occurred and be continuing both on (A) the date Borrower delivers the First Extension Notice, the Second Extension Notice or the Third Extension Notice, as
applicable, and (B) on the Initial Maturity Date, the First Extended Maturity Date and the Second Extended Maturity Date, as applicable; 
 ii. Borrower shall obtain and deliver to Lender not later than one (1) Business Day prior to the first day of the term of the Loan as extended one or more Extension Interest Rate Cap Agreements from an Acceptable
Counterparty which Extension Interest Rate Cap Agreement(s) shall have a strike rate equal to the Maximum Pay Rate and shall be effective for the period commencing on the day immediately following the then applicable Maturity Date (prior to giving
effect to the applicable Extension Option) and ending on the last day of the Interest Period in which the applicable extended Maturity Date occurs; and 
 iii. Borrower shall deliver (or shall commit to deliver within five (5) Business Days thereafter) a Counterparty Opinion with respect to the Extension Interest Rate Agreement and the related Acknowledgment.

 b. Extension Documentation. As soon as practicable following an extension of the Maturity Date pursuant to this
Section 5, Borrower shall, if requested by Lender, execute and deliver an amendment of and/or restatement of the Note and shall, if requested by Lender, enter into such amendments to the related Loan Documents as may be necessary or
appropriate to evidence the extension of the Maturity Date as provided in this Section 5; provided, however, that no failure by Borrower to enter into any such amendments and/or restatements shall affect the rights or
obligations of Borrower or Lender with respect to the extension of the Maturity Date. 
 Section 6. Miscellaneous. 

a. Waiver. Borrower and all endorsers, sureties and guarantors hereby jointly and severally waive all applicable exemption rights,
valuation and appraisement, presentment for payment, demand, notice of demand, notice of nonpayment or dishonor, protest and notice of protest of this Note, and, except as otherwise expressly provided in the Loan 
  

 -8- 

 Documents, all other notices in connection with the delivery, acceptance, performance, default or enforcement of the
payment of this Note. Borrower and all endorsers, sureties and guarantors consent to any and all extensions of time, renewals, waivers or modifications that may be granted by Lender with respect to the payment or other provisions of this Note and to
the release of the collateral securing this Note or any part thereof, with or without substitution, and agree that additional makers, endorsers, guarantors or sureties may become parties hereto without notice to them or affecting their liability
under this Note. 
 b. Non-Recourse. Recourse to the Borrower or any other Person with respect to any claims arising under or
in connection with this Note shall be limited to the extent provided in Section 18 of the Loan Agreement and the terms, covenants and conditions of Section 18 of the Loan Agreement are hereby incorporated by reference as if
fully set forth in this Note. 
 c. Note Secured. This Note and all obligations of Borrower hereunder are secured by the Loan
Agreement, the Security Instrument and the other Loan Documents. 
 d. Notices. Any notice, election, request or demand which
by any provision of this Note is required or permitted to be given or served hereunder shall be given or served in the manner required for the delivery of notices pursuant to the Loan Agreement. 
 e. Entire Agreement. This Note, together with the other Loan Documents, constitutes the entire and final agreement between Borrower and
Lender with respect to the subject matter hereof and thereof and may only be changed, amended, modified or waived by an instrument in writing signed by Borrower and Lender. 
 f. No Waiver. No waiver of any term or condition of this Note, whether by delay, omission or otherwise, shall be effective unless in
writing and signed by the party sought to be charged, and then such waiver shall be effective only in the specific instance and for the purpose for which given. No notice to, or demand on, Borrower shall entitle Borrower to any other or future
notice or demand in the same, similar or other circumstances. 
 g. Successors and Assigns. This Note shall be binding upon and
inure to the benefit of Borrower and Lender and their respective successors and permitted assigns. Upon any endorsement, assignment, or other transfer of this Note by Lender or by operation of law, the term “Lender” as used herein, shall
mean such endorsee, assignee, or other transferee or successor to Lender then becoming the holder of this Note. The term “Borrower” as used herein shall include the respective successors and assigns, legal and personal representatives,
executors, administrators, devisees, legatees and heirs of Borrower, if any. 
 h. Captions. All paragraph, section, exhibit
and schedule headings and captions herein are used for reference only and in no way limit or describe the scope or intent of, or in any way affect, this Note. 
 i. Severability. The provisions of this Note are severable, and if any one clause or provision hereof shall be held invalid or unenforceable in whole or in part, then such invalidity or unenforceability
shall affect only such clause or provision, or part thereof, and not any other clause or provision of this Note. 
  

 -9- 

 j. GOVERNING LAW. THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK PURSUANT TO SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. EACH OF BORROWER AND LENDER AGREES THAT ANY SUIT FOR THE ENFORCEMENT OF THIS NOTE OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE
OF NEW YORK OR ANY FEDERAL COURT SITTING THEREIN AND CONSENT TO THE NONEXCLUSIVE JURISDICTION OF SUCH COURT AND THE SERVICE OF PROCESS IN ANY SUCH SUIT BEING MADE UPON BORROWER OR LENDER IN THE MANNER AND AT THE ADDRESS SPECIFIED FOR NOTICES IN THE
LOAN AGREEMENT. EACH OF BORROWER AND LENDER HEREBY WAIVES ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH SUIT OR ANY SUCH COURT OR THAT SUCH SUIT IS BROUGHT IN AN INCONVENIENT COURT. 
 k. JURY TRIAL WAIVER. EACH OF BORROWER AND LENDER AND ALL PERSONS CLAIMING BY, THROUGH OR UNDER IT HEREBY EXPRESSLY, KNOWINGLY, VOLUNTARILY
AND INTENTIONALLY WAIVE ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (I) ARISING UNDER THIS NOTE, INCLUDING, WITHOUT LIMITATION, ANY PRESENT OR FUTURE MODIFICATION THEREOF OR (II) IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS NOTE (AS NOW OR HEREAFTER MODIFIED) OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR THE TRANSACTIONS
RELATED HERETO OR THERETO, IN EACH CASE WHETHER SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION IS NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE; AND BORROWER HEREBY AGREES AND CONSENTS THAT AN ORIGINAL
COUNTERPART OR A COPY OF THIS SECTION MAY BE FILED WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT HERETO TO THE WAIVER OF ANY RIGHT TO TRIAL BY JURY. BORROWER ACKNOWLEDGES THAT IT HAS CONSULTED WITH LEGAL COUNSEL REGARDING THE MEANING OF THIS
WAIVER AND ACKNOWLEDGES THAT THIS WAIVER IS AN ESSENTIAL INDUCEMENT FOR THE MAKING OF THE LOAN. THIS WAIVER SHALL SURVIVE THE REPAYMENT OF THE LOAN. 
 l. Counterclaims and other Actions. Borrower hereby expressly and unconditionally waives, in connection with any suit, action or proceeding brought by Lender on this Note, any and every right it may have
to (i) interpose any counterclaim therein (other than a counterclaim which can only be asserted in the suit, action or proceeding brought by Lender on this Note and cannot be maintained in a separate action) and (ii) have any such suit,
action or proceeding consolidated with any other or separate suit, action or proceeding. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

  

 -10- 

 IN WITNESS WHEREOF, Borrower has caused this Note to be executed and delivered as of the day and year
first above written. 
  

			
	BORROWER:
	
	 SHC Chopin Plaza, LLC, a Delaware limited liability company

		
	By:	 	 /s/ Ryan M. Bowie

	Name:	 	Ryan M. Bowie
	Title:	 	Assistant Treasurer

 Note ExecutionForm of Performance Share Agreement under 1999 Stock Plan

 Exhibit 10.1 
 PALM, INC. 
 1999 STOCK PLAN 
 PERFORMANCE SHARE AGREEMENT 
 Grant #
             
 NOTICE OF GRANT 
 Palm, Inc. (the “Company”) hereby grants you, [NAME OF DIRECTOR] (the “Grantee”), the number of performance shares indicated below
(the “Performance Shares”) under the Company’s 1999 Stock Plan (the “Plan”). The date of this Agreement is [DATE] (the “Grant Date”). Subject to the provisions of Appendix A (attached hereto) and of the Plan,
the principal features of this Award are as follows: 
 Total Number of Performance Shares: [NUMBER]  
 Purchase Price per Share: $0.001 
 Total Purchase Price: $[NUMBER] 
  

			
	 Vesting Commencement Date:
	  	 [DATE]

		
	 Vesting Schedule:
	  	

 Thirty-three and one-third percent (33 1/3rd%) of the Performance Shares shall vest on each anniversary of the Vesting Commencement Date (in the case of grants for which the Vesting Commencement Date is
the date of the Company’s annual meeting of stockholders, the anniversary of the Vesting Commencement Date shall be deemed to be the date of the Company’s annual meeting of stockholders in the applicable subsequent year rather than on the
calendar year anniversary of the Vesting Commencement Date), subject to Grantee’s remaining a Director through each applicable vesting date. 
 Your signature below and/or your acceptance of Shares in payment of this award indicates your agreement and understanding that this grant is subject to all of the terms and conditions contained in the Plan and this Performance Share
Agreement (the “Agreement”), which includes this Notice of Grant and Appendix A. For example, important additional information on vesting and termination of this Performance Share grant is contained in paragraphs 4 through 8 of Appendix A.
ACCORDINGLY, PLEASE BE SURE TO READ ALL OF APPENDIX A, WHICH CONTAINS THE SPECIFIC TERMS AND CONDITIONS OF THIS PERFORMANCE SHARE GRANT.  
  

							
	PALM, INC.	 		 	GRANTEE
				
	By:	 	  
	 		 	  

		 	Edward T. Colligan	 		 	[NAME]
		 	President and Chief Executive Officer	 		 	

 APPENDIX A 
 TERMS AND CONDITIONS OF PERFORMANCE SHARES 
 1. Grant. The Company hereby grants to the
Grantee under the Plan at the per share price of $0.001, equal to the par value of a Share, the number of Performance Shares indicated in the Notice of Grant, subject to all of the terms and conditions in this Agreement and the Plan. 
 2. Payment of Purchase Price. When the Performance Shares are paid out to the Grantee, the purchase price will be deemed paid by the Grantee for
each Performance Share through the past services rendered by the Grantee, and will be subject to appropriate withholding taxes, if any. 
 3.
Company’s Obligation to Pay. Each Performance Share has an initial value equal to the Fair Market Value of a Share on the date of grant. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 4, 5,
6 or 10, the Grantee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation of the Company. Payment of any vested Performance
Shares will be made in Shares. 
 4. Vesting Schedule. Except as otherwise provided in this Agreement, the Performance Shares awarded
by this Agreement are scheduled to vest in accordance with the vesting schedule set forth in the Notice of Grant, subject to Section 16 of the Plan. Performance Shares scheduled to vest on any such date actually will vest only if the Grantee
continues to be a Director through such date. 
 5. Administrator Discretion. The Administrator, in its discretion, may accelerate the
vesting of the balance, or some lesser portion of the balance, of the Performance Shares at any time, subject to the terms of the Plan. If so accelerated, such Performance Shares will be considered as having vested as of the date specified by the
Administrator. If the Administrator, in its discretion, accelerates the vesting of the balance, or some lesser portion of the balance, of the Performance Shares and if necessary, in the sole determination of the Company, to avoid the imposition of
any additional tax or income recognition under Section 409A of the Code, the payment of such accelerated Performance Shares nevertheless shall be made at the same time or times as if such Performance Shares had vested in accordance with the
vesting schedule set forth in the Notice of Grant (whether or not the Grantee remains a Director through such date(s)). 
 6. Change of
Control. If a Change of Control occurs while the Grantee is serving as a Director and the Grantee will cease to be a Director as an immediate and direct consequence of the Change of Control, the Performance Shares shall become fully vested on
the date of the Change of Control. 
 7. Payment after Vesting. Any Performance Shares that vest in accordance with paragraphs 4, 6 or
10 will be paid to the Grantee (or in the event of the Grantee’s death, to his or her estate) in Shares as soon as practicable following the date of vesting, subject to paragraph 9. Any Performance Shares that vest in accordance with paragraph
5 will be paid to the Grantee (or in the event of the Grantee’s death, to his or her estate) in Shares in accordance with the provision of such paragraph, subject to paragraph 9. 
  

 -2- 

 8. Forfeiture. Notwithstanding any contrary provision of this Agreement, the balance of the
Performance Shares that have not vested pursuant to paragraphs 4, 5, 6 or 10 at the time the Grantee ceases to be a Director will be forfeited and automatically transferred to and reacquired by the Company at no cost to the Company. The Grantee
shall not be entitled to a refund of any of the price paid for the Performance Shares forfeited to the Company pursuant to this paragraph 8. 
 9. Withholding of Taxes. Should the Company have any withholding obligations with respect to the Performance Shares or the Shares issued in payment thereof, the Company (or the employing Parent or Subsidiary) will withhold a portion
of the Shares otherwise issuable in payment for vested Performance Shares that have an aggregate market value sufficient to pay the minimum applicable federal, state and local income, employment and any other applicable taxes required to be withheld
by the Company (or the employing Parent or Subsidiary) with respect to the Shares (the “Minimum Withholding Amount”) or require E*TRADE or the applicable broker utilized by the Company to sell on the market a portion of the Shares that
have an aggregate market value sufficient to pay the Minimum Withholding Amount (a “Sell to Cover”). Any Sell to Cover arrangement shall be pursuant to terms specified by the Company from time to time. No fractional Shares will be
withheld, sold to cover the Minimum Withholding Amount or issued pursuant to the grant of Performance Shares and the issuance of Shares thereunder; unless determined otherwise by the Company, any additional withholding necessary for this reason will
be done by the Company, in its sole discretion, through the Grantee’s paycheck, if any, or through direct payment by the Grantee to the Company in the form of cash, check or other cash equivalent. Instead or in combination with the foregoing
withholding methods, the Company (or the employing Parent or Subsidiary) may, in its discretion, require the Grantee to pay an amount necessary to pay the applicable taxes directly to the Company or the employing Parent or Subsidiary) in the form of
cash, check or other cash equivalent, and/or may withhold an amount necessary to pay the applicable taxes from the Grantee’s paycheck, in each case with no or reduced withholding or Sell to Cover of Shares. In the event the withholding
requirements are not satisfied through the withholding of Shares or the Sell to Cover (or, through the Grantee’s paycheck or direct payment, as indicated above), no payment will be made to the Grantee (or his or her estate) for Performance
Shares unless and until satisfactory arrangements (as determined by the Administrator) have been made by the Grantee with respect to the payment of any income and other taxes which the Company determines must be withheld or collected with respect to
such Performance Shares. By accepting this Award, the Grantee expressly consents to the withholding of Shares and to any cash or Share withholding or Sell to Covers as provided for in this paragraph 9. All income and other taxes related to the
Performance Share award and any Shares delivered in payment thereof are the sole responsibility of the Grantee. 
 10. Death of
Grantee. Upon the termination of Grantee’s service as a Director as a result of Grantee’s death, all then-unvested Performance Shares subject to the Award shall immediately become fully vested and payable. Any distribution or delivery
to be made to the Grantee under this Agreement will, if the Grantee is then deceased, be made to the administrator or executor of the Grantee’s estate (or such other person to whom the Performance Shares are transferred pursuant to the
Grantee’s will or in accordance with the laws of descent and distribution). Any such transferee must furnish the Company (a) written notice of his or her status as a transferee, (b) evidence satisfactory to the Company to establish
the validity of the transfer of these Performance Shares and compliance with any laws or regulations pertaining to such transfer, and (c) written acceptance of the terms and conditions of this Performance Share grant as set forth in this
Agreement. 
  

 -3- 

 11. Rights as Stockholder. Neither the Grantee nor any person claiming under or through the
Grantee shall have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares (which may be in book entry form) shall have been issued,
recorded on the records of the Company or its transfer agents or registrars, and delivered to the Grantee (including through electronic delivery to a brokerage account). Notwithstanding any other part of this Agreement, any quarterly or other
regular, periodic dividends or distributions (as determined by the Company) paid on Shares will accrue with respect to (i) unvested Performance Shares, and (ii) Performance Shares that are vested but unpaid, and in each case will be paid
out at the same time or time(s) as the underlying Performance Shares on which such dividends or other distributions have accrued. After issuance, recordation and delivery of the Shares, the Grantee shall have all the rights of a stockholder of the
Company with respect to voting such shares and receipt of dividends and distributions on such Shares. 
 12. No Effect on Service or
Employment. The Grantee’s service or employment with the Company and any Parent or Subsidiary is on an at-will basis only, subject to the provisions of Applicable Law and to any written, express employment contract with the Grantee.
Accordingly, nothing in this Agreement or the Plan shall confer upon the Grantee any right to continue to serve as a Director or be employed by the Company or any Parent or Subsidiary or shall interfere with or restrict in any way the rights of the
Company, which are hereby expressly reserved, to terminate the service or employment of the Grantee at any time for any reason whatsoever, with or without good cause. Such reservation of rights can be modified only in an express written contract
executed by a duly authorized officer of the Company. 
 13. Address for Notices. Any notice to be given to the Company under the
terms of this Agreement shall be addressed to the Company, in care of its General Counsel at the Company’s headquarters, 950 W. Maude Avenue, Sunnyvale, California 94085, or at such other address as the Company may hereafter designate in
writing. 
 14. Grant is Not Transferable. Except to the limited extent provided in paragraph 10 above, this grant and the rights and
privileges conferred hereby shall not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment or similar process. Upon any attempt to
transfer, assign, pledge, hypothecate or otherwise dispose of this grant, or of any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this grant and the rights and privileges
conferred hereby immediately shall become null and void. 
 15. Restrictions on Sale of Securities. The Shares issued as payment for
vested Performance Shares awarded under this Agreement will be registered under the federal securities laws and will be freely tradable upon receipt. However, the Grantee’s subsequent sale of the Shares will be subject to any market
blackout-period that may be imposed by the Company and must comply with the Company’s insider trading policies, and any other applicable securities laws. 
 16. Binding Agreement. Subject to the limitation on the transferability of this grant contained herein, this Agreement shall be binding upon and inure to the benefit of the heirs, legatees, legal
representatives, successors and assigns of the parties hereto. 
  

 -4- 

 17. Conditions for Issuance of Stock. The shares of stock deliverable to the Grantee may be either
previously authorized but unissued shares or issued shares which have been reacquired by the Company. The Company shall not be required to transfer on its books or list in street name with a brokerage company or otherwise issue any certificate or
certificates for Shares hereunder prior to fulfillment of all the following conditions: (a) the admission of such Shares to listing on all stock exchanges on which such class of stock is then listed; and (b) the completion of any
registration or other qualification of such Shares under any state or federal law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, which the Administrator shall, in its absolute
discretion, deem necessary or advisable; and (c) the obtaining of any approval or other clearance from any state or federal governmental agency, which the Administrator shall, in its absolute discretion, determine to be necessary or advisable;
and (d) the lapse of such reasonable period of time following the date of vesting of the Performance Shares as the Administrator may establish from time to time for reasons of administrative convenience. 
 18. Plan Governs. This Agreement is subject to all terms and provisions of the Plan. In the event of a conflict between one or more provisions of
this Agreement and one or more provisions of the Plan, the provisions of the Plan shall govern. Capitalized terms used and not defined in this Agreement shall have the meaning set forth in the Plan. 
 19. Administrator Authority. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the
administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Performance Shares have vested). All actions
taken and all interpretations and determinations made by the Administrator shall be final and binding upon the Grantee, the Company and all other persons, and shall be given the maximum deference permitted by law. No person acting as or on behalf of
the Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Agreement. 
 20. Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 
 21. Agreement Severable. In the event that any provision in this Agreement shall be held invalid or unenforceable, such provision shall be
severable from, and such invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of this Agreement. 
 22. Entire Agreement. This Agreement constitutes the entire understanding of the parties on the subjects covered. The Grantee expressly warrants that he or she is not executing this Agreement in reliance on any promises,
representations, or inducements other than those contained herein. 
  

 -5- 

 23. Modifications to the Agreement. Modifications to this Agreement or the Plan can be made only
in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Agreement, the Company reserves the right to revise this Agreement as it deems necessary or advisable,
in its sole discretion and without the consent of the Grantee, to comply with Section 409A of the Code or to otherwise avoid imposition of any additional tax or income recognition under Section 409A of the Code prior to the actual payment
of Shares pursuant to this award of Performance Shares. However, the Company makes no representation that this award of Performance Shares is not subject to Section 409A of the Code nor makes any undertaking to preclude Section 409A of the
Code from applying to this award of Performance Shares. 
 24. Amendment, Suspension or Termination of the Plan. By accepting this
award, the Grantee expressly warrants that he or she has received an award under the Plan, and has received, read and understood a description of the Plan. The Grantee understands that the Plan is discretionary in nature and may be modified,
suspended or terminated by the Company at any time. 
 25. Governing Law. This grant of Performance Shares shall be governed by, and
construed in accordance with, the laws of the State of California, without regard to its conflict of laws provisions. 
 o    0    o 
  

 -6-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]