Document:

Exhibit 10.1

                             LICENSE AGREEMENT

     This License Agreement ("Agreement"), which includes Schedules A-G, hereto,
is  effective  as of February  1, 2007  ("Effective  Date") and is entered  into
between (a) Cragar Industries, Inc., a Delaware corporation having its principal
place of  business  at 4909 East  McDowell  Road  Suite  104,  Phoenix,  Arizona
(hereafter "LICENSOR"), and (b) Accubuilt Inc. a Delaware corporation having its
principal place of business at 2550 Central Point Pkwy, Lima Ohio  ("LICENSEE").
Licensor and Licensee are referred to herein as the "Parties."

     WHEREAS, Licensor is the owner of certain rights defined herein.

     WHEREAS,  it is the intent of this  Agreement for the parties to enter into
an arrangement  whereby  Licensor shall provide its Licensed  Rights and certain
automobile  components  to  Licensee  and  Licensee  shall  utilize  same in the
manufacture and sale of Products in accordance with Licensor's standards.

     NOW,  THEREFORE,  in  consideration  of the premises,  the mutual covenants
contained  herein,  and other good and valuable  consideration,  the receipt and
sufficiency  of which are  hereby  acknowledged,  the  parties  hereby  agree as
follows:

1. DEFINITIONS.

     1.1. "CONFIDENTIAL  INFORMATION" means all information  including,  but not
limited to,  business  or  technical  information,  products,  product  designs,
marketing,   market   potential,    quotations,   designs,   concepts,   product
formulations,  sales, sales volume,  costs,  profits,  requirements,  documents,
specifications,  suppliers, prototypes, and processes, disclosed by one party (a
"DISCLOSING  PARTY") in any manner to the other  party (the  "RECEIVING  PARTY")
that (a) the Disclosing Party has clearly marked as confidential or proprietary,
or (b) the Disclosing Party identifies as confidential at the time of disclosure
with written  confirmation  within ten (10) days of  disclosure to the Receiving
Party.

     1.2.  "DESIGN"  means the Design as  displayed  in the image of the Product
attached  hereto as Schedule B and in any  subsequent  writing that is signed by
duly authorized  representatives  of the Parties.  The Parties shall jointly own
all  right,  title  and  interest  in and to the  Design  without  any  duty  of
accounting,  or any  obligation  to, or consent  required from, the other Party,
unless Licensor purchases the tooling for the Design Components from Licensee in
accordance  with Section  13.8.1,  in which case  Licensor  shall solely own the
Design.  The Design and any related  intellectual  property or other proprietary
rights apply solely to the Ford F150 design and no other vehicle unless added to
this Agreement by both Parties.

     1.3.  "DESIGN  COMPONENTS"  means those  components of the Product that are
supplied by Licensee, and includes, but is not limited to, the components listed
in SCHEDULE F attached hereto.
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     1.4 "FIELD OF USE" means the entire  United  States,  Canada and Mexico and
all  potential  purchasers  of Products,  including  but not limited to all Ford
dealers.

     1.5.  "IMPROVEMENT" or "IMPROVEMENTS" means any modification in the Design,
or to the  structure or design of a Product  created or developed by Licensor or
Licensee as described in Section 9.1, whether patentable or unpatentable,  which
changes the effectiveness, appearance or manufacturability of a Design Component
or Product.

     1.6.  "KIT" or "KITS"  means a package of  components  sold by  Licensor to
Licensee, whether sold, shipped or billed together or separately. Each Kit shall
contain at least the components listed in SCHEDULE D.

     1.7.  "TECHNOLOGY  RIGHTS"  means (a) the Kits,  (b) any and all  writings,
computer disks,  computer tapes,  and electronic  records,  design and technical
information,  engineering or production data, drawings,  plans,  specifications,
techniques,  methods, processes, trade secrets, reports, models, market research
data, customer lists, and any and all other material or matter (i) used by or in
possession of Licensor (ii) provided or otherwise made available to Licensee and
(iii) applicable to the design, manufacture,  assembly,  marketing,  service, or
sale of Products, and (c) Licensor's general and specific knowledge, experience,
and information,  not in written or printed form, (i) provided or otherwise made
available to Licensee and (ii) applicable to the design, manufacture,  assembly,
marketing, service, or sale of Products.

     1.8.  "PRODUCTS" means customized,  two-wheel drive Ford F-150 trucks which
embodies the Design and/or an Improvement  and  incorporates  the Kit and/or the
Design  Components,  the  current  version  of which is  generally  shown on the
attached SCHEDULE B, any other customized vehicles that the parties agree to add
to Products in accordance  with Section 10, and spare or replacement  parts sold
by Licensee for said  vehicles.  "PRODUCT"  means any one of the Products.  Each
Product shall be marketed under one or more of the Trademark  Rights in a manner
approved by Licensor in accordance with Section 7 below.

     1.9. "LICENSED RIGHTS" means the Trademark Rights and the Technology Rights
Improvements.

     1.10. "PROMOTION  COMMITMENT" means any amount spent by Licensee to promote
all  Products  for sale to accepted  dealers and to the  general  public,  which
amount will be determined by Licensee in its sole discretion.

     1.11. "PROTOTYPE" means a fully constructed version of the Product.  Cragar
shall  inspect and have the right to accept or reject the Prototype as set forth
in Section 6.

     1.12.  "TRADEMARK RIGHTS" means Licensor's  trademarks,  trade names and/or
service marks,  including  those listed on the attached  SCHEDULE A, and further
includes  the style  associated  with such  trademarks,  trade  names or service
marks, and trade dress and Licensor's  copyrights  associated with any Products.
Trademark   Rights  includes  the  Design  and  all   modifications   (including
Improvements) thereto.

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2. LICENSE GRANT.

     Licensor grants to Licensee,  for the term of this Agreement and subject to
the terms and conditions of this  Agreement,  an exclusive  (except as otherwise
set forth in Section 4.2.2.), non-assignable,  non-sublicensable,  except as set
forth herein,  non-transferable,  royalty-bearing  (in  accordance  with Section
4.2),  license under the Licensed  Rights within the Field of Use to (i) display
and use the  Trademark  Rights  in  connection  with the  manufacture,  sale and
marketing of  Products;  (ii)  reproduce,  modify  (including  the right to make
derivative  works  of)  and  otherwise  use  the  Technology  Rights  solely  in
connection with the manufacture,  sale and marketing of Licensed Products; (iii)
distribute  copies of and  publicly  display  the  Technology  Rights  solely as
embodied in the Licensed  Products;  and (iii) make,  have made, use, sell, have
sold,  offer  for  sale,  import  and  have  imported  Licensed  Products  which
incorporate  or otherwise  embody the Licensed  Rights.  The rights and licenses
granted  to  Licensee  under  this  Section 2 shall  include,  without  separate
compensation to Licensee, the right to grant, sublicenses through multiple tiers
of  sublicensees  for the sole  purpose of  manufacturing  and selling  Licensed
Products and Design Components on behalf of Licensee.

3. LICENSOR'S TRADEMARK RIGHTS.

     3.1.  Licensee  acknowledges  that Licensor has valuable goodwill and other
rights in the  Trademark  Rights and  Licensee  shall ensure that its use of the
Trademark Rights does not impair same.  Licensee's use of the Trademark  Rights,
including  the  goodwill  arising  from such use,  shall inure to the benefit of
Licensor, and Licensee shall have no right to the Trademark Rights except to use
them as specifically set forth herein.

     3.2. Licensee agrees (a) not to use the Trademark Rights, or any simulation
or  variant  thereof,  or any mark,  word,  name,  logo,  design,  trade  dress,
likeness,  or other  representation  that is  confusingly  similar to any of the
Trademark Rights,  except as specifically set forth herein, (b) not to challenge
Licensor's  ownership of any of the Trademark  Rights,  and (c) not to challenge
the validity of any of the Trademark Rights.

     3.3.  Licensee  shall  not  represent  that  it has  any  ownership  in the
Trademark Rights, and Licensee acknowledges that its use of the Trademark Rights
shall not create in Licensee's favor any right,  title, or interest in or to the
Trademark Rights.

     3.4.  Licensee  shall  not seek to  register,  or assist or cause any other
third party to register,  any of the Trademark  Rights or any  trademark,  trade
dress,  service mark, trade name,  corporate name,  business name,  domain name,
design or the like  (collectively,  "Mark") that is confusingly similar thereto.
In the event that Licensee either directly or indirectly  applies to register or
registers such a Mark,  Licensee  shall  immediately  and without  remuneration,
execute any and all  documents  as requested by Licensor to assign the rights in
such Mark to Licensor.

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4. LICENSEE'S RESPONSIBILITIES.

     4.1. GENERAL.

          4.1.1.  Licensee  shall have  manufactured  and pay for the tooling to
     produce the Design Components and shall own the tooling,  although Licensor
     has the right to purchase the tooling in accordance with Section 13.8.1 and
     Schedule E if this Agreement is terminated.

          4.1.2.  Licensee  shall  manufacture  and ship  Products  and shall be
     responsible for all related sales, billing, collection, marketing, customer
     service  and  product  return  functions  and  shall  use all  commercially
     reasonable efforts to market the Products consistent with the parameters of
     this Agreement.

          4.1.3.  Licensee  shall  purchase a Kit from Licensor for each Product
     and each Product  shall include the  components  from a Kit. The price of a
     Kit and payment  terms for same are  included in Schedule D.  Payments  for
     Kits are  independent  and in addition  to the royalty  payments of Section
     4.2.

          4.1.4.  Licensee  shall  provide  Licensor  with a  launch  plan  that
     includes  (a) an initial  order(s)  for Kits by  Licensee,  which  Licensee
     anticipates  to be used  during  the  first  ninety  (90)  days of sales of
     Products,  and (b) a  forecast  for the  number  of Kits to be  ordered  by
     Licensee within one (1) year from the Effective Date.

     4.2. ROYALTY PAYMENTS BY LICENSEE.

          4.2.1.  ROYALTY FEES ON SALES OF PRODUCTS.  "Actual Royalty" is a flat
     fee to be paid by Licensee to Licensor for the sale of each Product, as the
     term "sale" is  determined in accordance  with Section  4.2.3,  and "Actual
     Royalties"  means the total of flat fees paid to Licensor by Licensee based
     on such sales of multiple  Products.  Actual  Royalty  will be equal to the
     amount set forth in Schedule  G, which may be  adjusted  upward upon mutual
     agreement  of  the  Parties  as  evidenced  by a  writing  signed  by  duly
     authorized representatives of each of the Parties.

          4.2.2.  MINIMUM ANNUAL Sales. The minimum annual sales of Products are
     set  forth  in  SCHEDULE  C.  Licensee  shall  pay  the  Actual   Royalties
     corresponding  to such  sales,  but if  Licensee  does not meet the minimum
     annual  sales in 2008,  such  failure  shall not be deemed a breach of this
     Agreement by Licensee, however, Licensor shall then have a one-month option
     to be  exercised  by the  end of  January  of 2009 to  either  convert  the
     Licensed Rights to a non-exclusive License Grant or, upon mutual consent of
     the  Parties,  terminate  or attempt to modify this  Agreement  pursuant to
     Section 13.5.  Further,  if Licensee does meet the minimum  annual sales in
     2010,  such  failure  shall  not be deemed a breach  of this  Agreement  by
     Licensee,  however,  Licensor  shall  then  have a  one-month  option to be
     exercised  by the end of January  of 2011 to either  convert  the  Licensed

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     Rights to a  non-exclusive  License  Grant or, upon  mutual  consent of the
     Parties,  terminate or attempt to modify this Agreement pursuant to Section
     13.5.

          4.2.3.  ROYALTY  PAYMENT  DATES.  The  sale  of  a  Product  shall  be
     considered to have occurred on the latest of the following: shipment of the
     Product by Licensee or invoicing for payment for the Product by Licensee to
     a third party.  Royalty  payments shall be made to Licensor  within one (1)
     month after the end of each calendar  month of each year,  with the payment
     being for sales of Products that occurred during the preceding  month.  For
     example,  Licensee  must make the  royalty  payment  for sales of  Products
     during  each  period of January 1 -31 by the last day of  February  of that
     same calendar year.

          4.2.4.   For  each  review  period  Licensee  shall  provide  Licensor
     documentation to show total Products sold, and such documentation  shall be
     considered Licensee's Confidential Information.

          4.2.5.  In  addition  to the  royalty  payments,  Licensee  shall  pay
     Licensor for Kits in accordance with SCHEDULE D.

     4.3.  INSPECTION  OF RECORDS  RELATED  TO  ROYALTIES.  Licensee  shall keep
accurate  and  complete  records  containing  all  information  required for the
computation and  verification of the royalty  payments due under this Section 4.
Licensee shall keep complete records of its (a) purchases of Design  Components,
and (b) sales of  Products  by model,  quantity  and entity to which each of the
Products was sold. Licensee shall keep all such records for a period of at least
three years,  or for the duration of any dispute  concerning or relating to this
Agreement,  if such period is longer.  No more than two times  annually and upon
fifteen (15) days advance  written  notice,  Licensor  shall have the right,  at
Licensor's  expense,  to have an independent auditor inspect such records during
regular  business  hours at  Licensee's  offices  and in such a manner as not to
interfere  unreasonably with Licensee's normal business  activities,  solely for
the purpose of verifying  the accuracy of any royalty  payments  made under this
Agreement.  Prior  to  commencing  any  such  inspection  and  audit,  any  such
independent  auditor shall have entered into an agreement  with  Licensor  which
prohibits the disclosure of any  information  relating to Licensee to any party,
including Licensor, except that such auditor may issue a report to Licensor, the
sole  purpose of which  shall be to report to  Licensor  whether  Licensee is in
compliance with the payment provisions of this Agreement, including a summary of
and sufficient  detail  regarding the scope,  quality,  and  methodology of such
compliance or lack thereof. If an audit by Licensor uncovers a deficiency in any
royalty  payment due  hereunder,  Licensee must  promptly  remit the amount due,
including  a ten  percent  (10.0%)  per  annum  finance  charge,  on such  fees,
compounded  monthly.  If the aggregate  amount of payments  owing to Licensor as
shown by such audit  exceeds five percent (5%) of the  aggregate  fees paid with
respect to such period audited, Licensee shall also remit to Licensor Licensor's
reasonable costs and expenses,  including reasonable attorney's fees, associated
with performing the audit.

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5.   LICENSOR'S RESPONSIBILITIES.

     5.1.  Licensor shall manufacture or cause to have manufactured the Kits and
all components related thereto.  Licensor warrants to Licensee that the Kits and
all  components  shall  be  of  a  quality  at  least  equal  to  both  (a)  any
legally-mandated   standards,   and  (b)  generally  accepted  industry  quality
standards.

     5.2.  Licensor  shall  make  commercially  reasonable  efforts to ship Kits
within one (1) month after  receiving a written  purchase order for same,  given
reasonable forecasting by Licensee.

     5.3.  The price of Kits  and/or of Kit  components  may be  increased  from
time-to-time  based on the generally  corresponding  increases in price by other
suppliers  for  similar  components.  Licensor  shall  provide a sixty  (60) day
written  notice to Licensee prior to any proposed price increase for the Kits or
any components.

     5.4.  Licensor shall be  responsible  for all sales,  billing,  collection,
marketing,  customer  service and product return  functions  related to Kits and
components sold to Licensee.

6. DETERMINATION AND USE OF THE PROMOTION COMMITMENT.

     Licensor  agrees  to spend  the  Promotion  Commitment  in a manner to best
promote the Products. Licensee shall provide to Licensor (a) within three months
after the Effective  Date,  and (b) during  January of 2008 and each  subsequent
calendar year in which this Agreement is in effect,  a marketing budget and plan
for the  Products.  Said plan shall be consistent  with  industry  standards for
products  that compete with the Products.  Licensor  will place no  unreasonable
burden on Licensee in regards to  Promotional  Commitment.  Licensee  shall make
available to Licensor  report(s)  detailing  Licensee's  ongoing  effort towards
meeting Promotional Commitment.

7. QUALITY CONTROL.

     7.1.  Licensee  shall  use the  Trademark  Rights  in  connection  with the
Products  only  upon  employing  quality  standards  that  meet  or  exceed  the
performance and aesthetic  specifications (the  "SPECIFICATIONS") to be mutually
agreed to by  Licensor  and  Licensee  within  sixty (60) days after the date of
execution   of  this   Agreement.   The  quality   standards   embodied  in  the
Specifications shall be at least equivalent to all applicable legal requirements
for Products.

     7.2. As early as possible,  and in any case before commercial production of
any Product, Licensee shall submit to Licensor for Licensor's review and written
approval  photographs of a Prototype of each Product Licensee shall manufacture.
The  photographs  shall  show  the  Prototype  in  sufficient  detail,  and from
sufficient angles, in order for Licensor to determine the overall appearance and
quality of the Prototype. As early as possible and in any case prior to its use,
Licensee shall submit to Licensor for Licensor's review and written approval one
copy of artwork for promotional or advertising materials,  packaging, designs or
decals  (collectively,  "Promotional  Materials")  that are to be used  with any

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Products.  Once  Licensor  grants  Licensee  written  approval with respect to a
Licensed  Product  or any  Promotional  Material,  further  approvals  for  each
instance of use shall not be required  unless  Licensee  materially  alters such
Licensed Product or Promotional Materials.

     7.3.  Licensee  acknowledges  that  Licensor  may  disapprove  any concept,
artwork,   Prototype  or  Product   because  (a)  the  quality  (either  from  a
performance, safety or aesthetic standpoint) is unacceptable to Licensor, or (b)
it is not acceptable from the standpoint of protecting, maintaining or enhancing
the Trademark  Rights.  If  disapproved,  Licensor  shall  provide  Licensee the
reasons  for the  disapproval  in writing and  Licensee  shall have the right to
provide  support to the  contrary,  or to modify and resubmit any such  artwork,
Prototype  or  Product  to  Licensor.  Approval  or  disapproval  shall  lie  in
Licensor's  discretion,  but may not be unreasonably withheld or conditioned and
shall be  completed  within five (5) business of the date of receipt by Licensor
or any  concept or  artwork,  or upon  Licensor's  inspection  of any Product or
Prototype. Any item not approved in writing shall be deemed unapproved and shall
not be  manufactured  or sold in  connection  with the Licensed  Rights.  If any
unapproved product is sold in connection with the Licensed Rights, Licensor may,
together  with other  remedies  available to  Licensor,  require such product to
either be destroyed or reworked to remove all Licensed Rights therefrom.

     7.4.  Any  approvals  Licensor may give with respect to Products or related
advertising materials,  promotional materials or packaging,  will not constitute
or imply a representation  or belief by Licensor that such materials comply with
any applicable laws.

     7.5.  All  Products  sold must  conform  in all  material  respects  to the
approved  Prototype.  If the  quality of any  product  does not meet the quality
standards  embodied in the  Specifications,  Licensor  may, in addition to other
remedies  available  to it, by  written  notice  require  Licensee  to  promptly
withdraw said product from the market or modify such product so that it conforms
in all material respects to the approved Prototype.

     7.6. If Licensor,  in connection with Licensor's review pursuant to Section
7.2,  notifies  Licensee  of a required  modification  under this  Section  with
respect to any Product, such notification shall advise Licensee of the nature of
the changes  required.  Photographs of a Prototype of a modified  version of the
subject Product shall then be resubmitted to Licensor for Licensor's approval in
accordance with Section 7.2.

     7.7.  Licensee shall not be permitted to modify an approved  Product in any
material respect without Licensor's prior written approval in accordance Section
7.3.

     7.8.  No  markings  of any sort shall be applied by Licensee to Products or
packages or shipping  materials  used in connection  with Products  unless first
approved  in  writing  by  Licensor,  which  approval  will not be  unreasonably
withheld or delayed, or required by law.

     7.9.  Licensee  shall  permit  Licensor or  Licensor's  appointed  agent to
inspect Licensee's or Licensee's agent's manufacture of and/or Design Components

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and, with reasonable  advance notice, to enter the premises of Licensee,  during
regular  business  hours at  Licensee's  offices  and in such a manner as not to
interfere unreasonably with Licensee's normal business activities solely for the
purpose of inspecting  the Products  and/or Design  Components and the manner in
which they are manufactured.  Any such inspection shall be subject to reasonable
safeguards designed to protect the confidentiality rights of Licensee.

     7.10.  If the  quality  of any of the  Products  fails to meet the  quality
control standards embodied in the  Specifications in any material respect,  then
Licensor may, in addition to other  remedies  available to it, by written notice
require  Licensee to promptly  withdraw  said  product from the market or modify
such Product such that it meets such quality  control  standards in all material
respects.

8. MARKINGS.

     8.1.  Licensee  shall use the  trademark  registration  symbol "(R)" or the
symbol "TM" as specified by Licensor.

     8.2.   Licensee   shall  mark  each  Product  it   manufactures   with  any
government-mandated,  statutory,  or  other  regulatory  markings  that  may  be
required.  Licensee  shall be fully  responsible  for,  and agrees to  indemnify
Licensor  for, any and all third party product  liability  and product  warranty
claims  (in  accordance  with  Section  16.1)  caused by  Licensee's  failure to
properly mark the Products.  Each Product shall also include  permanent  marking
sufficient to show the date of manufacture.

9. IMPROVEMENTS.

     9.1.  Licensee  shall  promptly  disclose any  improvements  to the Designs
developed in whole or in part by Licensee to Licensor.

10. ADDING NEW VEHICLES TO THIS AGREEMENT.

     The  Parties  may  mutually  agree to add any  vehicle or  vehicles to this
Agreement  other  than the  two-wheel  drive,  Ford  F-150,  in which  case this
Agreement may be amended in accordance with Section 17.8.

11.  CONFIDENTIALITY.

     11.1.  LIMITED  DISTRIBUTION.  The Receiving Party will limit access to the
Disclosing Party's  Confidential  Information to its employees,  contractors and
agents who have a need to know such  Confidential  Information  for the purposes
set  forth in this  Agreement  and who are under an  obligation  as set forth in
Section 11.5. The Receiving Party will copy the Disclosing Party's  Confidential
Information only as reasonably necessary for it to complete the purposes of this
Agreement.  In the event  that the  Receiving  Party  intends  to  disclose  the
Disclosing Party's  Confidential  Information to a third party other than as set
forth above,  the  Confidential  Information  shall be disclosed  (i) only after
obtaining written authorization from the Disclosing Party, and (ii) only if said
third party is under a written obligation to hold such Confidential  Information

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in confidence  under terms and conditions at least  restrictive as the terms and
conditions of this Agreement.

     11.2.  LIMITATIONS ON USE OR DISCLOSURE.  The Receiving Party will hold the
Disclosing  Party's  Confidential  Information in confidence in accordance  with
this Agreement and may use said  Confidential  Information only for the purposes
set forth in this Agreement.

     11.3.  DUTY OF CARE.  The Receiving  Party will satisfy its  obligations to
protect  the  Disclosing  Party's   Confidential   Information  from  misuse  or
unauthorized  disclosure by exercising  reasonable  care. Such care will include
protecting said Confidential  Information using those practices  required by law
to maintain the Confidential Information as a trade secret.

     11.4.  EXCEPTIONS TO DUTY.  This Agreement does not restrict  disclosure or
use of information that would otherwise  qualify as Confidential  Information if
the Receiving Party can show that any one of the following conditions exists.

     (i)  The Receiving  Party knew the  information  prior to disclosure by the
          Disclosing  Party  and  held  it  without  restriction  as to  further
          disclosure.

     (ii) Another  source  lawfully  discloses the  information to the Receiving
          Party and does not restrict the Receiving  Party in the further use or
          disclosure of the information.

     (iii)The  information is or becomes  publicly known through no fault of the
          Receiving Party.

     (iv) Public  disclosure is required by government  regulation or order.  In
          such case the Receiving Party shall (1) promptly inform the Disclosing
          Party of such  regulation  or order  and  allow  Disclosing  Party the
          opportunity  to contest  such  regulation  or order,  and (2) publicly
          disclose the minimum amount of Confidential  Information of Disclosing
          Party necessary to comply with the regulation or order.

     (v)  The  Receiving  Party  can  show  by  documentary  evidence  that  the
          information was independently developed by the Receiving Party without
          use of or reference  to any part of the  Confidential  Information  of
          Disclosing Party.

     11.5. The Receiving  Party warrants that all of its employees,  contractors
and agents who will have access to Proprietary Information are or shall be under
obligation to the Receiving Party to hold such  information in confidence  under
terms and conditions at least as restrictive as the terms and conditions of this
Agreement,  and  to use  such  information  only  in the  performance  of  their
employment or engagement and for the purposes set forth in this Agreement.

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     11.6. The obligations of this Agreement with respect to confidentiality and
non-use of Confidential Information shall continue for a period of two (2) years
or such longer  period as mandated by applicable  law , after the  expiration or
termination of this Agreement.

     11.7. Upon termination of this Agreement,  the Receiving Party shall return
(or destroy if requested by the Disclosing  Party) all Confidential  Information
of the Disclosing Party in its possession.  Notwithstanding  the foregoing,  the
confidentiality  provisions set forth herein shall continue to apply to any such
returned or destroyed Confidential Information.

12.  INFRINGEMENT.

     12.1.  If either  party  discovers  any actual or suspected  infringing  or
interfering  use of any of the  Licensed  Rights  by any third  party,  it shall
promptly notify the other party in writing. Licensor may take such steps to stop
such  infringement or  interference as Licensor may deem necessary,  in its sole
discretion,  to protect the Licensed Rights. Licensee shall reasonably cooperate
with  Licensor  at  no  charge  to  Licensee  to  stop  such   infringement   or
interference.  Licensor shall have full control over any such action, including,
without limitation, the right to select counsel, to settle on any terms it deems
advisable in its sole discretion, to appeal any adverse decision rendered in any
court,  to discontinue any action taken by it and otherwise to make any decision
in  respect  thereto as it deems  advisable  in its sole  discretion;  provided,
however, that Licensor shall not grant rights to third parties that diminish the
rights  granted to  Licensee  under this  Agreement  without  the prior  written
consent of  Licensee.  If Licensor  fails to resolve  such  actual or  suspected
infringement  or  interference  or initiate a lawsuit or reasonable  measures to
cease such actual or  suspected  infringement  within ten (10) days of receiving
written notice of such actual or suspected  infringement  or  interference  from
Licensee or delivering  written notice of such actual or suspected  infringement
or interference to Licensee,  as applicable,  Licensee shall have the right, but
not the obligation, to initiate an action or take other reasonable measures with
respect to such actual or  suspected  infringement  or  interference  on its own
behalf,  including  to control any such action,  to settle any such  action,  to
appeal any adverse  decision,  to make any decision with respect  thereto and to
collect any damages or the benefit  therefrom;  PROVIDED THAT Licensee shall (a)
provide to Licensor,  upon request,  information concerning any such action, (b)
consult with Licensor, upon request,  regarding such action and consider in good
faith Licensor's  recommendations  with respect thereto,  and (c) not settle any
such  action in a manner that will  materially  impair the rights of Licensor or
its  other  licensees  or their  sublicensees.  In no event  shall  Licensee  be
required to take any action if Licensee deems it inadvisable to so do.  Licensor
shall, if requested by Licensee,  reasonably  cooperate with Licensee concerning
the foregoing described matters.

     12.2. Any lawsuit or action initiated  pursuant to Section 12.1 by Licensor
shall be prosecuted at the sole expense of Licensor and all sums recovered shall
be retained by  Licensor.  Any lawsuit or action  initiated  pursuant to Section
12.1 by Licensee  shall be  prosecuted  at the sole  expense of Licensee and all
sums recovered shall be retained by Licensee.

                                       10
<PAGE>
13. TERM AND TERMINATION.

     13.1.  This Agreement shall have an initial term of five (5) years from the
Effective Date, and if not renewed,  this Agreement shall terminate on March 31,
2012.  This  Agreement  may be  renewed  on terms  acceptable  to  Licensor  and
Licensee.

     13.2.  If either  party fails to comply with any of the  material  terms of
this Agreement, then it will be deemed to have defaulted.  Licensee will also be
determined in default if it makes any  assignment  for the benefit of creditors,
or  files  a  petition  in  bankruptcy,  or is  adjudged  bankrupt,  or  becomes
insolvent,  or is placed in the hands of a receiver, or if the equivalent of any
such  proceedings or acts occurs,  though known by some other name or term. Upon
written notice by the non-defaulting party of default under this Section, unless
otherwise  specified herein, the defaulting party shall have thirty (30) days to
cure such default, unless the non-defaulting party agrees to a longer period. If
the breach is not cured to the  reasonable  satisfaction  of the  non-defaulting
party within the cure period, the non-defaulting party may immediately terminate
this Agreement.

     13.3. Licensor shall have the right at any time to terminate this Agreement
immediately  without providing an opportunity to cure by giving Licensee written
notice thereof upon the occurrence of any of the following:

          13.3.1. If Licensee manufactures,  sells or ships products bearing the
     Trademark Rights, wherein the products were not authorized by Licensor.

          13.3.2. If Licensee materially breaches the provisions of Section 3 or
     14.

          13.3.3.  If  Licensee  is  not  permitted  or  is  unable  to  operate
     Licensee's  business in the usual manner,  or is not permitted or is unable
     to provide  Licensor  with  reasonable  assurance to Licensor that Licensee
     will so  operate  Licensee's  business,  as  debtor  in  possession  or its
     equivalent,  or is not permitted, or is unable to otherwise meet Licensee's
     obligations under this Agreement.

          13.3.4. The failure of Licensee to pay royalty fees in accordance with
     Section 4 within ten (10)  business  days of when due two (2) times  during
     any twelve (12) month period.

          13.3.5.  The failure of Licensee to pay for Kits or components (or any
     portion  thereof)  within ten (10) business days of when due four (4) times
     during any twelve (12) month period.

     13.4. Licensee shall have the right at any time to terminate this Agreement
immediately  without providing an opportunity to cure by giving Licensor written
notice  thereof upon the  occurrence  of any of the  following:  (a) if Licensor
breaches  Section 14.4 or (b) 180 days after any  assignment  by Licensor  which
Licensee reasonably disapproves of in accordance with Section 17.1.

                                       11
<PAGE>
     13.5.  Licensee or Licensor may terminate this Agreement  without providing
the other party an opportunity to cure (a) during January of 2009 if the minimum
annual sales for 2008 are not  achieved,  and (b) during  January of 2011 if the
minimum annual sales for 2010 are not achieved.

     13.6. If this Agreement is terminated  for any reason,  neither party shall
be relieved of any duties or  obligations  owing as of the date of  termination,
including without limitation,  responsibility for product warranties and product
liability for any Products or Kits or  components  supplied  hereunder,  and the
duty to maintain confidentiality in accordance with Section 11 herein.

     13.7.Upon  termination  of this  Agreement for any reason,  Licensee  shall
cease and desist  from any use  whatsoever  of the  Licensed  Rights,  provided,
however,  Licensee may, finish, ship and/or sell all remaining  work-in-progress
and  finished  Products  in its  possession  at time of  termination,  for which
Licensee  shall  utilize Kits and pay Licensor for Kits,  as well as for royalty
fees in accordance with Section 4. Further,  Licensee shall immediately transfer
to  Licensor  or  destroy,  at  Licensor's  election,  any and  all  promotional
materials bearing any of the Trademark Rights. Sections 1, 4, 11, 12, 13, 15, 16
and 17. shall survive any termination or expiration of this Agreement.

     13.8.Upon termination of this Agreement for any reason, Licensee shall have
ninety (90) days from the date of termination  to notify  Licensor in writing if
it desires to continue  using the Design.  If Licensee does not notify  Licensor
within the prescribed  time period,  it shall not be permitted to use the Design
or any  Improvements  after  that time.  The  parties  shall have the  following
options with respect to continued use of the Design and Improvements:

          13.8.1.  If Licensor  desires to use the Design and Licensee does not,
     Licensor shall purchase the tooling for the Design Components  according to
     the  amount  set  forth  in  Schedule  E.  In  that  case,  Licensee  shall
     permanently cease all use of the Design and any Improvements.

          13.8.2. If Licensee wishes to continue using the Design, both Licensor
     and Licensee  shall be  permitted  to use the Design and Licensee  warrants
     that  Licensor  shall be  permitted  to  directly  or  indirectly  purchase
     Licensed Components from Licensee's vendor,  without Licensor having to pay
     any tooling charge or other fee.

          13.8.3.  All  other  provisions  of this  Agreement  with  respect  to
     termination shall remain in effect,  including Licensee's obligation not to
     directly or indirectly use or register any of the Licensed Marks.

14. RESTRICTIVE COVENANTS.

     During the term of this Agreement:

     14.1. Licensee shall not directly or indirectly:  manufacture, sell, market
or offer to sell any  two-wheel  drive,  Ford F-150 truck that competes with the
Products.

                                       12
<PAGE>
     14.2. Licensee shall not directly or indirectly:  manufacture, sell, market
or offer to sell any automotive product (such as a truck or car) that includes a
design similar to the Design or any Improvements.

     14.3.  Licensee  shall not directly or  indirectly:  except as set forth in
Section  1.8,  separately  sell  Design  Components  or  components  similar  in
appearance to the Design Components.

     14.4 Licensor shall not (a) exercise,  or grant or otherwise  authorize any
third party the right to exercise or grant any of the License  Rights (except as
otherwise set forth in Section  4.2.2.) with respect to Products in the Field of
Use or (b) exercise or grant or otherwise authorize any third party the right to
exercise or grant any right, title or interest in or to the Design or any Design
Components or Improvements with respect to Products in the Field of Use.

15. GOVERNING LAW, JURISDICTION, ATTORNEY'S FEES AND INJUNCTIVE RELIEF.

     This  Agreement  shall be  governed  by the law of the  State  of  Delaware
without  reference  to its  conflict  of laws  principles.  In the  event  of an
unauthorized  disclosure or prospective  unauthorized disclosure of Confidential
Information,  the  non-breaching  party shall be  considered  to be  irreparably
harmed and shall be entitled to a temporary restraining order and/or preliminary
injunctive relief without posting bond.

16. INDEMNIFICATION.

     16.1.  Except to the  extent the claim is  subject  to  indemnification  by
Licensor  under Section 16.3 below,  Licensee shall  indemnify,  defend and hold
harmless Licensor and its directors,  officers, employees, agents, subsidiaries,
parents,  affiliates,  members,  successors and assigns from and against any and
all third party claims,  suits, losses,  liabilities,  expenses (including legal
fees and costs), damages,  judgments,  awards, injuries,  penalties and fines of
whatsoever nature and by whomsoever  asserted,  directly or indirectly,  arising
out of or  resulting  from the  manufacture,  distribution  and use of Products,
including,  without limitation,  patent infringement  claims,  defective product
claims,  product liability claims,  and any claims involving  personal injury or
death or property damage.

     16.2. Licensee shall keep in force, at its expense,  throughout the term of
this  Agreement and for  thirty-six  (36) months  following any  termination  or
expiration of this Agreement,  adequate  commercial general liability  insurance
written on an occurrence  basis,  including  products  liability and contractual
liability  coverages with respect to this  Agreement,  with coverage of at least
$5,000,000  per  occurrence.  Licensee  shall provide  Licensor a certificate of
insurance  from  a  financially   responsible   insurance   company   reasonably
satisfactory  to Licensor,  certifying  such  coverages,  naming  Licensor as an
additional insured, and requiring at least thirty (30) days prior written notice
to Licensor of any cancellation or material change thereof.

     16.3. Licensor shall protect, defend, indemnify and hold harmless Licensee,
its managers,  members, officers,  employees and agents from and against any and

                                       13
<PAGE>
all  actions,  liabilities,   losses,  damages,  costs  or  expenses,  including
reasonable  attorney's  fees,  arising out of or resulting  from any third party
claim (a) that the  exercise of the rights  granted  under this  Agreement  with
respect to the Licensed Rights infringe on or constitutes a misappropriation  of
the subject  matter of any patent,  copyright,  trademark,  trade dress or other
intellectual  property right of any third party, and/or (b) involving or arising
from the Kits or other components  supplied by Licensor  hereunder or any of the
Licensed Rights, including but not limited to, defective product claims, product
liability claims,  and any claims involving personal injury or death or property
damage.

17. MISCELLANEOUS TERMS.

     17.1.  Licensor  may assign its rights  under this  Agreement  to any third
party,  without prior written consent of Licensee.  Should  Licensee  reasonably
disapprove of the third party and provide written support for Licensee's reasons
for the  disapproval,  Licensee shall have the right to terminate this Agreement
in accordance  with Section 13.4.  Licensee may not assign its rights  hereunder
without the prior, written  authorization of Licensor.  except that Licensee may
assign this Agreement  without the written  consent of Licensor to a corporation
or other business entity  succeeding to all or substantially  all the assets and
business of the Licensee by merger or purchase,  provided that such  corporation
or  other  business  entity  shall  expressly   assume  all  of  the  Licensee's
obligations under this Agreement by a writing delivered to the Licensor. Subject
to this provision, this Agreement shall be binding upon and inure to the benefit
of the parties, their successors and assigns.

     17.2. If Licensor wishes to purchase Products, Licensee agrees to sell such
Products  to  Licensor  or any of  Licensor's  employees  at its  lowest  quoted
wholesale price notwithstanding quantities purchased.

     17.3.  EXCEPT AS  EXPRESSLY  SET FORTH  HEREIN,  LICENSOR,  AND ANY RELATED
ENTITIES INCLUDING LICENSOR'S  DIRECTORS,  OFFICERS,  EMPLOYEES,  AND AFFILIATES
MAKE NO  REPRESENTATIONS  AND EXTEND NO WARRANTIES OF ANY KIND, EITHER EXPRESSED
OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY,  FITNESS
FOR A PARTICULAR  PURPOSE,  VALIDITY OF ISSUED OR PENDING PATENT CLAIMS,  IN THE
ABSENCE OF LATENT OR OTHER DEFECTS,  WHETHER OR NOT DISCOVERABLE.  EXCEPT TO THE
EXTENT THAT LIABILITY ARISES FROM EACH PARTY'S INDEMNIFICATION  OBLIGATION UNDER
SECTION 16 ABOVE,  IN NO EVENT SHALL  EITHER  PARTY,  ITS  DIRECTORS,  OFFICERS,
EMPLOYEES,  OR AFFILIATES BE LIABLE FOR INCIDENTAL OR  CONSEQUENTIAL  DAMAGES OF
ANY KIND,  INCLUDING  ECONOMIC  DAMAGE OR INJURY TO  PROPERTY  OR LOST  PROFITS,
REGARDLESS  OF WHETHER  SUCH PARTY SHALL BE ADVISED,  SHALL HAVE OTHER REASON TO
KNOW,  OR IN FACT  SHALL  KNOW OF THE  POSSIBILITY.  EXCEPT TO THE  EXTENT  THAT
LIABILITY ARISES FROM EACH PARTY'S  INDEMNIFICATION  OBLIGATION UNDER SECTION 16
ABOVE, NO PARTY SHALL HAVE ANY LIABILITY TO ANOTHER PARTY OR TO ANY THIRD PARTY,

                                       14
<PAGE>
FOR ANY  DIRECT  DAMAGES  IN  EXCESS  OF THE FEES PAID OR  PROPERLY  PAYABLE  BY
LICENSEE HEREUNDER,  EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER
UNDER THEORY OF  CONTRACT,  TORT  (INCLUDING  NEGLIGENCE),  STRICT  LIABILITY OR
OTHERWISE.

     17.4.  This  Agreement  shall be  binding  upon the  permitted  successors,
assigns, and legal representatives of the parties.

     17.5. Any payment,  notice, or other communication required or permitted to
be  made  or  given  to  either  party  pursuant  to  this  Agreement  shall  be
sufficiently made or given upon actual receipt if hand-delivered or by telecopy,
or three days after the date of mailing if sent by certified or registered mail,
postage  prepaid,  addressed  to such party at its address set forth above or to
any other address as it shall designate by written notice to the other party.

     17.6.  The  parties  agree that if any part,  term,  or  provision  of this
Agreement is found to be illegal, invalid, or unenforceable, the validity of the
remaining provisions shall not be affected thereby.

     17.7.  The failure of any party to  exercise  any right,  power,  or remedy
hereunder shall not constitute a waiver thereof, nor shall any single or partial
exercise of any right,  power, or remedy hereunder preclude any other or further
exercise thereof or the exercise of any other right, power, or remedy.

     17.8.  This  Agreement  constitutes  the entire  understanding  between the
parties as to the subject matter hereof.  No amendments to this Agreement  shall
be effective unless in writing and signed by the parties.

     17.9.  This Agreement  does not  constitute  Licensee as the agent or legal
representative of Licensor,  or Licensor as the agent or legal representative of
Licensee,  for any  purpose  whatsoever.  Neither  party shall have the right or
authority to assume or to create any  obligation  on behalf of or in the name of
the other party or to bind the other party in any manner or thing whatsoever. No
joint venture or partnership  between the parties hereto is intended or shall be
inferred.

                                       15
<PAGE>
LICENSOR:                       CRAGAR INDUSTRIES, INC.,
                                a Delaware corporation

                                By: /s/ Richard Kozuback
                                   ---------------------------------------------
                                Name: Richard Kozuback
                                     -------------------------------------------
                                Title: President & CEO
                                      ------------------------------------------

LICENSEE:                       ACCUBILT, INC.

                                By: /s/ Gregory J. Corona
                                   ---------------------------------------------
                                Name: Gregory J. Corona
                                     -------------------------------------------
                                Title: Chairman
                                      ------------------------------------------

                                       16
<PAGE>
                     SCHEDULE A - LICENSOR'S TRADEMARK RIGHTS

A LIST  ALL  APPLICABLE  COMMON-LAW,  STATE,  FEDERAL,  AND  FOREIGN  REGISTERED
TRADEMARKS AND SERVICE MARKS, INCLUDING THE REGISTRATION NUMBERS AND APPROPRIATE
EXHIBITS SHOWING DESIGN MARKS ARE ATTACHED.

                 MARK                           U.S. REG. NO.
                CRAGAR                             819,800
              SUPER TRICK                          964,061
               CRAGAR SS                          1,010,106
               TRU-SPOKE                          1,022,020
                  S/S                             1,031,812
               STAR WIRE                          1,446,281
       CRAGAR AMERICA'S CHOICE & DESIGN           1,478,604
               PRO-TRAC                           1,526,744
              STREET PRO                          1,914,785
               GT CRAGAR                          2,927,317

                 MARK                          STATE REG. NO.
                 S/S                            70,444 CALIF

                ctMARK                         COMMON LAW (NOT REG.)
           THE WHEEL PEOPLE

           (THE CURRENT VERSION OF THE DESIGN IS SHOWN IN SCHEDULE B)
<PAGE>
                    SCHEDULE B - CURRENT DESIGN OF THE PRODUCTS

     The current Design for Products is represented below:

                        [GRAPHIC SHOWING FRONT OF TRUCK]

                         [GRAPHIC SHOWING REAR OF TRUCK]

     Computer  illustration,  to be  replaced  by photos of  initial  production
vehicle.
<PAGE>
                        SCHEDULE C - MINIMUM ANNUAL SALES

     2007 - 150 Products per year.

     2008 and beyond - the minimum shall be calculated as being 75% of the total
number of products sold the previous  calendar year or as mutually agreed by the
parties.
<PAGE>
                                SCHEDULE D - KITS

     Licensee shall pay the following for Kits in 2007:

     $3,115.17 Kit with O.E. replacement brake package.

     $5,017.92 Kit with Upgraded front brake package.

     Licensor  shall invoice  Licensee for Kits and payment for Kits is due from
Licensee to Licensor within thirty (30) days from the invoice date.

     List of kit components and initial  pricing shall be determined by the time
the Design is finalized.
<PAGE>
                                SCHEDULE E

A.   Formula  for  Licensor's  Purchase  of Tooling  for the  Design  Components
     Pursuant To Section 13.8.1.

     Cost of tooling = $90,000.

     Life span of tooling = 5,000 units.

     Purchase  cost = cost of tooling  less  amortized  use of tooling  based on
straight  line  amortization.  For  example,  if the  tooling  has a life of two
thousand units, it will lose 10% of its value each 200 units produced.
<PAGE>
                 SCHEDULE F - DESIGN COMPONENTS TO BE SUPPLIED BY LICENSEE

     *   Cragar style grille insert for hood
     *   Cragar style grille insert for bumper
     *   Fender flair -- driver front
     *   Fender flair -- driver rear
     *   Fender flair -- passenger front
     *   Fender flair -- passenger rear
     *   Front bumper cover
     *   Rear bumper cover
     *   Hitch cover
     *   Front fender louver-driver
     *   Front Fender louver-passenger
     *   Rocker panel -- driver side cab
     *   Rocker panel -- passenger side cab
     *   Rocker panel -- driver side rear bed
     *   Rocker panel -- passenger side rear bed
     *   Tailgate closeout panel
     *   Hood scoop
     *   Logo for factory floormats
     *   Seat/console covers
     *   Lowering kit -- 2"/4"
     *   Door Pods/seat trim re-surface
     *   Cold air package "Blackwing" Dual Snorkle
     *   Hand held custom tuned programmer
<PAGE>
                         SCHEDULE G - ACTUAL ROYALTY FEE

     $300 per Product that is sold by Licensee.Employment Agreement with Steven R. Goldman

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this “Agreement”), executed as of
January 17, 2007 but effective as of the Effective Date (as defined below), is entered into by and among Sunstone Hotel Investors, Inc., a Maryland corporation (“Sunstone”), Sunstone Hotel Partnership, LLC, a Delaware limited
liability company (the “Operating Partnership”), and Steven R. Goldman (the “Executive”). 
 WHEREAS,
Sunstone and the Operating Partnership (collectively, the “Company”) desire to employ the Executive and to enter into an agreement embodying the terms of such employment; and 
 WHEREAS, the Executive desires to accept employment with the Company, subject to the terms and conditions of this Agreement. 
 NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS: 
 1. Employment Period. Subject to the provisions for earlier termination hereinafter provided, the Executive’s employment hereunder shall be for a term (the “Employment Period”) commencing on the Effective Date
and ending on the fifth anniversary of the Effective Date (the “Initial Termination Date”); provided, however, that this Agreement shall be automatically extended for one additional year on the Initial Termination Date
and on each subsequent anniversary of the Initial Termination Date, unless either the Executive or the Company elects not to so extend the term of the Agreement by notifying the other party, in writing, of such election not less than ninety
(90) days prior to the last day of the term as then in effect. For purposes of this Agreement, “Effective Date” shall mean the earlier of (i) April 1, 2007, and (ii) the expiration of two (2) weeks following
Executive’s fulfillment of his duties to his current employer. 
 2. Terms of Employment. 
 (a) Position and Duties. 
 (i) During the Employment Period, the Executive shall serve as Chief Executive Officer of Sunstone and the Operating Partnership and shall perform such employment duties as are usual and customary for such positions
and such other duties as the Board of Directors of Sunstone (the “Board”) shall from time to time reasonably assign to the Executive. The Executive shall also serve as a member of the Board during the Employment Period. The
Executive shall report directly to the Board. At the Board’s reasonable request, the Executive shall serve the Company and/or its subsidiaries and affiliates in other offices and capacities in addition to the foregoing, provided that his duties
and responsibilities shall be commensurate with his position and shall be reasonably related to the business conducted by Sunstone. In the event that the Executive, during the Employment Period, serves in any one or more of such additional
capacities, the Executive’s compensation shall not be increased beyond that specified in Section 2(b) of this Agreement. In addition, in the event the Executive’s service in one or more of such additional capacities is
subsequently terminated, the Executive’s compensation, as specified in Section 2(b) of this Agreement, shall not be diminished or reduced in any manner as a result of such termination for so long as the Executive otherwise remains
employed under the terms of this Agreement. 
  

 1 

 (ii) During the Employment Period, and excluding any periods of vacation and sick leave
to which the Executive is entitled, the Executive agrees to devote substantially all of his business time, energy, skill and best efforts to the performance of his duties hereunder in a manner that will faithfully and diligently further the business
and interests of the Company. Notwithstanding the foregoing, during the Employment Period it shall not be a violation of this Agreement for the Executive to (A) serve on corporate, civic or charitable boards or committees consistent with the
Company’s conflicts of interests policies and corporate governance guidelines in effect from time to time, (B) deliver lectures and fulfill speaking engagements or (C) manage his personal investments, so long as such activities do not
materially interfere with the performance of the Executive’s responsibilities as an executive officer of the Company. It is expressly understood and agreed that to the extent that any such activities have been conducted by the Executive prior
to the Effective Date and disclosed in writing and agreed to by the Company in writing, the continued conduct of such activities subsequent to the Effective Date shall not thereafter be deemed to interfere with the performance of the
Executive’s responsibilities to the Company; provided, however, that the failure to disclose any such existing activities shall not create a presumption that such activities are in violation of this Agreement; and provided further, that no such
activity shall be permitted that violates any written non-competition agreement between the Executive and the Company or prevents the Executive from devoting substantially all of his business time to the fulfillment of his duties hereunder.

 (iii) The Executive agrees that he will not take personal advantage of any business opportunity that arises during his
employment by the Company and which would result in a breach of Executive’s duty of loyalty to the Company unless all material facts regarding such opportunity are promptly reported by the Executive to the Board for consideration by the Company
and the disinterested members of the Board determine to reject the opportunity and to authorize the Executive’s participation therein. 
 (b) Compensation. 
 (i) Base Salary. During the Employment Period, the
Executive shall receive a base salary (the “Base Salary”) of $600,000 per annum, as the same may be increased thereafter. The Base Salary shall be paid at such intervals as the Company pays executive salaries generally. During the
Employment Period, the Base Salary shall be reviewed at least annually for possible increase (but not decrease) in the Company’s sole discretion, as determined by the Company’s compensation committee; provided, however, that the Executive
shall be entitled to an annual increase in Base Salary each year commencing on January 1, 2008 equal to the greater of (i) four percent (4%) and (ii) any cost-of-living increase granted to senior executives of the Company
generally for the same period. Any increase in Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. The term “Base Salary” as utilized in this Agreement shall refer to Base Salary as so
adjusted. 
 (ii) Intentionally Omitted. 
  

 2 

 (iii) Special Expenses. 
 (a) Relocation Expense. The Company agrees to reimburse the Executive for his reasonable and actual out-of-pocket relocation
expenses incurred in moving his family and household goods from Chicago, Illinois to Southern California. Such reimbursement shall include reimbursement for any moving expenses and shall include, but not be limited to, title, escrow, legal, finance,
brokerage and other reasonable closing costs for the sale of the Executive’s home in Chicago and the purchase of the Executive’s new home in Southern California. The Company also agrees to reimburse the Executive for his reasonable and
actual out-of-pocket expenses incurred with regard to: (i) either storing or moving his household goods from the Executive’s home in Westport, Connecticut to Southern California, (ii) real estate taxes incurred in respect of the
Executive’s homes in Westport and Chicago from the Effective Date through the date of sale of such homes and (iii) title, escrow, legal, finance, brokerage and other closing costs for the sale of the Executive’s home in Westport. The
Company shall pay such reimbursement to the Executive within forty-five (45) days of receiving from the Executive receipts evidencing such relocation expenses. 
 (b) Temporary Living Expenses. The Company agrees to reimburse the Executive up to $5,000 per month for reasonable and actual
out-of-pocket temporary living expenses for temporary long-term housing for the Executive in Southern California and incurred by the Executive from the period beginning on the Effective Date and ending no later than six months thereafter (the
“Relocation Period”). The Company also agrees to reimburse the Executive for the following travel expenses incurred by the Executive’s family during the Relocation Period: roundtrip coach airfare for up to four (4) trips
for the Executive’s spouse and children from Chicago, Illinois to Orange County, California. Such reimbursement shall be paid by the Company within forty-five (45) days of receipts evidencing such temporary living and travel expenses.

 (c) Legal Expenses. Within thirty (30) days of the receipt by the Company of detailed invoices from the
Executive, the Executive shall be entitled to reimbursement of attorney’s fees in the amount of $9,975 previously incurred in 2004 to negotiate a prior version of this Agreement, plus the additional reasonable attorneys’ fees necessary to
complete negotiation of this Agreement up to a maximum of $10,000. 
 (d) Gross Up Payment. To the extent any payments
under this Section 2(b)(iii) are taxable to Executive, the Company shall pay to Executive an additional cash payment in an amount such that Executive will be in the same position as he would have been had no taxes been imposed upon or incurred
as a result of any payments under clause (a) through (c) of Section 2(b)(iii) or under this clause (d). 
 (e)
Limitation on Special Expenses. Notwithstanding the foregoing, the aggregate amount payable by the Company to Executive pursuant to clauses (a), (b) and (d) of this Section 2(b)(iii) shall in no event exceed $300,000.

 (iv) Annual Bonus. In addition to the Base Salary, the Executive shall be eligible to earn, for each fiscal year of
the Company ending during the Employment Period, an annual cash performance bonus (an “Annual Bonus”) under the Company’s bonus plan or 

  

 3 

 
plans applicable to senior executives. The amount of the Annual Bonus and the performance goals applicable to the Annual Bonus for any applicable Employment
Period shall be determined in accordance with the terms and conditions of said bonus plan as in effect from time to time provided that any such plan shall reflect the following bonus targets: (1) threshold target equal to 75% of Base Salary
(“Threshold Annual Bonus”); (2) mid-point target equal to 150% of Base Salary (“Target Annual Bonus”); and (3) maximum target equal to 200% of Base Salary; provided, however, that no minimum bonus is
guaranteed other than for the 2007 fiscal year as provided below. The Threshold Annual Bonus will be deemed to have been achieved if Executive performs the duties and functions of his office with reasonable diligence during the applicable bonus
period, it being understood and agreed that the Threshold Annual Bonus will not be contingent on or based upon the Company’s performance or financial results or the achievement of any financial targets. Subject to the foregoing, the terms and
conditions of any such bonus plan shall be determined by Sunstone’s compensation committee in its sole discretion. The Executive shall receive a guaranteed Annual Bonus for the fiscal year ended December 31, 2007 in the amount of $450,000,
which payment shall not be pro-rated for the number of days of the year that the Executive is employed by the Company during the 2007 fiscal year. 
 (v) Restricted Stock Award. The Company shall, on the Effective Date, grant the Executive such number of restricted shares of Sunstone common stock (the “Restricted Stock”) as is determined
pursuant to the next following sentence, without the payment of any monetary consideration by the Executive. The number of restricted shares granted to Executive shall be equal to the quotient obtained by dividing (i) $6,000,000 by
(ii) the average closing price of the Company’s common stock on the New York Stock Exchange (or any other securities market that then constitutes the principal trading market for the common stock) over the twenty trading days immediately
preceding the date of grant (i.e., the date on which the Board shall approve the grant of the Restricted Stock), which shall be not later than February 6, 2007. The shares of Restricted Stock shall vest equally over a five-year period beginning
as of the date of grant, such vesting to be subject to the Executive’s continued employment with the Company. Consistent with the foregoing, the Restricted Stock shall be subject to the terms and conditions of Sunstone’s 2004 Long-Term
Incentive Plan (the “Incentive Plan”) and a restricted stock agreement (the “Restricted Stock Agreement”) to be entered into by Sunstone and the Executive in accordance with the provisions of the Incentive Plan, the
form of which Restricted Stock Agreement is attached hereto as Exhibit C; provided, however, that to the extent Sections 4 and/or 7 of the Restricted Stock Agreement are inconsistent with the terms of the Incentive Plan, the terms of Sections
4 and 7 of the Restricted Stock Agreement shall control. To enable the Executive to pay Federal, state or local taxes imposed upon him as a result of the vesting of Restricted Stock, the Restricted Stock Agreement shall include a provision whereby
the Executive shall have the right to require Sunstone to withhold vested shares of Restricted Stock in exchange for the payment by Sunstone of the amount of such taxes. The Executive shall make the election to have the Company withhold shares of
Restricted Stock at the time of the vesting of the Restricted Stock, and for purposes of withholding such shares, each share shall be valued at the value assigned thereto in the Restricted Stock Agreement. Notwithstanding anything to the contrary
contained herein or in the Noncompetition Agreement (defined below), under no circumstances shall the Executive be required to return or refund any portion of the Restricted Stock grant that becomes vested 

  

 4 

 
pursuant to this paragraph, the Incentive Plan or the Restricted Stock Agreement, nor shall such Restricted Stock grant be subject to rescission or reduction
by the Company for any reason whatsoever, including without limitation as a result of any breach or alleged breach by the Executive of this Agreement or the Noncompetition Agreement. During each fiscal year of the Employment Period commencing with
the year ending December 31, 2007, the Executive shall be eligible to earn additional annual equity awards under the Incentive Plan, subject to three (3) year vesting from the date the award is granted. For the avoidance of doubt, the
first such award would be granted in 2008, to the extent earned based on performance during the fiscal year ending December 31, 2007. Such annual equity award shall have a minimum value between $1,400,000 and $1,600,000 and shall be granted to
the Executive if the Company meets objective financial goals and targets consistent with the Company’s annual plan and budget (the “Equity Targets”) set for the applicable fiscal year by the Company’s compensation committee;
provided that the Executive shall also be eligible to receive such annual equity awards based on his individual performance in the event that the Equity Targets are not attained. The Equity Targets for the fiscal year ending December 31, 2007
and each succeeding fiscal year shall be set by the Company’s compensation committee not later than February 15 of the applicable fiscal year. 
 (vi) Incentive, Savings and Retirement Plans. During the Employment Period, the Executive shall be eligible to participate in (on terms and conditions no less favorable than those applicable to the
Company’s other senior executives) all other incentive plans, practices, policies and programs, and all savings and retirement plans, policies and programs, in each case that are applicable generally to senior executives of the Company. The
Company shall at a minimum continue to maintain Incentive, Savings and Retirement Plans and Welfare Benefit Plans providing benefits at least equivalent to those provided under the corresponding plans maintained by the current Chief Executive
Officer; exclusive, however, of the New York Life deferred compensation program. The Company has provided Executive with full information regarding such current plans. 
 (vii) Welfare Benefit Plans. During the Employment Period, the Executive and the Executive’s eligible family members-shall be
eligible for participation in (on terms and conditions no less favorable than those applicable to the Company’s other senior executives) the welfare benefit plans, practices, policies and programs (including, if applicable, medical, dental,
vision, disability, employee life, group life and accidental death insurance plans and programs) maintained by the Company for its senior executives. In addition, during the Employment Period, (i) the Company shall provide the Executive with
the current amount of additional term life insurance coverage on the Executive’s life consistent with that amount which is currently provided to the current Chief Executive Officer, and (ii) the Company shall reimburse the Executive the
cost of continuing coverage for the Executive and his immediate family members under the Executive’s current medical and dental group health plans pursuant to COBRA, as well as any coverage that Executive maintains after COBRA ceases to be
available, until such time as the Executive and his immediate family members are eligible for full coverage under Sunstone’s medical and dental plans. 
 (viii) Business Expenses. During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for all reasonable business expenses incurred by the Executive in accordance with the
policies, practices and procedures of the Company provided to senior executives of the Company, including without limitation travel by the Executive between Chicago, Illinois and the Company’s headquarters in Orange County, California.

  

 5 

 (ix) Fringe Benefits. During the Employment Period, the Executive shall be
entitled to such fringe benefits and perquisites as are provided by the Company to its senior executives from time to time, in accordance with the policies, practices and procedures of the Company. The Company shall provide Executive with fringe
benefits at least equivalent to those currently provided to the current Chief Executive Officer. 
 (x) Vacation.
During the Employment Period, the Executive shall be entitled to paid vacation of four weeks in each calendar year in accordance with the plans, policies, programs and practices of the Company applicable to its senior executives. 
 (xi) Indemnification Agreement. On the Effective Date, Sunstone and the Executive shall enter into an indemnification agreement in
the form annexed hereto as Exhibit E (the “Indemnification Agreement”). 
 (c) Additional Agreements.
As a condition to the Company entering into this Agreement, the Executive shall concurrently herewith enter into a (i) Non-Disclosure Agreement with the Company (the “Non-Disclosure Agreement”), a form of which is set forth as
Exhibit B hereto, and (ii) a Noncompetition Agreement with the Company (the “Noncompetition Agreement”), a form of which is set forth in Exhibit D hereto. 
 3. Termination of Employment: 
 (a) Death or Disability. The Executive’s employment shall terminate automatically upon the Executive’s death or Disability during the Employment Period. For purposes of this Agreement, “Disability” means
Executive’s inability by reason of physical or mental illness to fulfill his obligations hereunder for six (6) consecutive months which, in the reasonable opinion of an independent physician selected by the Company or its insurers and
reasonably acceptable to the Executive or the Executive’s legal representative, renders Executive unable to perform the essential functions of his job, even after reasonable accommodations are made by the Company. The Company is not, however,
required to make unreasonable accommodations for Executive or accommodations that would create an undue hardship on the Company. 
 (b) Cause. The Company may terminate the Executive’s employment during the Employment Period for Cause or without Cause. For purposes of this Agreement, “Cause” shall mean the occurrence of any one or more of
the following events: 
 (i) The Executive’s continued and willful failure to substantially perform or gross negligence
in performing his duties owed to the Company, which failure continues uncured for at least fifteen (15) days following a written notice being delivered to the Executive by the Board, which notice specifies such failure or negligence;

 (ii) The Executive’s commission of an act of fraud or material dishonesty in the performance of his duties;

  

 6 

 (iii) The Executive’s conviction of, or entry by the Executive of a guilty or no
contest plea to, (x) any felony or (y) any misdemeanor involving moral turpitude; 
 (iv) Any breach by the
Executive of his fiduciary duty or duty of loyalty to the Company; or 
 (v) The Executive’s material breach of any of
the provisions of this Agreement or of the Non-Competition Agreement or the Non-Disclosure Agreement, which in each case is not cured within fifteen (15) days following written notice thereof from the Company, specifically identifying the
manner in which the Company believes the Executive has breached the applicable agreement. 
 The termination of employment of the Executive shall not be
deemed to be for Cause unless and until there shall have been delivered to the Executive a copy of a resolution duly adopted by the affirmative vote of a majority the Board, including a majority of the independent directors, at a meeting of the
Board called and held for such purpose (after reasonable notice is provided to the Executive and the Executive is given an opportunity to be heard before the Board), finding that, in the good faith opinion of the Board, sufficient Cause exists to
terminate the Executive pursuant to this Section 3(b); provided, that if the Executive is a member of the Board, the Executive shall not participate in the deliberations regarding such resolution, vote on such resolution, nor
shall the Executive be counted in determining a majority of the Board. 
 (c) Good Reason. The Executive’s
employment may be terminated by the Executive for Good Reason or by the Executive without Good Reason. For purposes of this Agreement, “Good Reason” shall mean the occurrence of any one or more of the following events without the
Executive’s prior written consent, including as a result of a Change in Control, unless the Company cures the circumstances constituting Good Reason (provided such circumstances are capable of cure) prior to the Date of Termination (as defined
below): 
 (i) A material reduction in the Executive’s titles, duties, authority and responsibilities, or the assignment
to the Executive of any duties materially inconsistent with the Executive’s position, authority, duties or responsibilities without the written consent of the Executive, which material reduction shall include the Executive’s service as the
Chief Executive Officer of a subsidiary entity following a Change in Control; 
 (ii) The Company’s reduction of the
Executive’s annual Base Salary, as currently in effect or as may be increased from time to time, any reduction of the Executive’s Annual Bonus or annual equity award opportunity including, but not limited to’ any elimination or
reduction in the Executive’s participation in the Incentive Plan for reasons other than those specified in such plan; or 
 (iii) The Company’s failure to cure a material breach of its obligations under this Agreement within fifteen (15) days after written notice is delivered to the Board by the Executive which specifically identifies the manner in
which the Executive believes that the Company has breached its obligations under this Agreement; 
  

 7 

 (iv) The required relocation of the Company’s principal place of business or the
Executive’s principal place of employment to a location more than 50 miles from the Company’s location on the Effective Date; 
 (v) If duties are being assigned to Executive by, or Executive is required to report to, anyone other than the Board; 
 (vi) As a result of a Change in Control or any other circumstances, (x) neither the Company nor a Company Affiliate (defined below) is an Ultimate Parent Company (defined below) or (y) Executive serves as
Chief Executive Officer of any entity that is not an Ultimate Parent Company, where the term “Ultimate Parent Company” means an entity that (i) is part of the consolidated group that includes the Company and (ii) directly or
indirectly controls all other entities within such consolidated group, and the term “Company Affiliate” means any Person majority owned by Sunstone or any corporation in which more than 50% of the voting power is owned, directly or
indirectly, by the stockholders of Sunstone in substantially the same proportions as their ownership of the stock of Sunstone (provided the stockholders of Sunstone did not acquire voting power of such corporation pursuant to transaction
constituting a Change of Control as defined in Section 5 herein); or 
 (vii) A material reduction is made to any
benefits provided under any employee benefit plan in which Executive is eligible to participate, or which is otherwise provided to Executive in connection with his employment, including benefits under Sections 2(b)(vi), 2b(vii), 2(b)(ix) herein,
except to the extent any such benefits are reduced for all senior executives of the Company and Executive’s reduction is proportionate to that of other senior executives. 
 The Company shall not assert any claim that Good Reason is absent unless and until there shall have been delivered to the Executive a copy of a
resolution duly adopted by the affirmative vote of a majority the Board, including a majority of the independent directors, at a meeting of the Board called and held for such purpose (after reasonable notice is provided to the Executive and the
Executive is given an opportunity to be heard before the Board), finding that, in the good faith opinion of the Board, Good Reason does not exist pursuant to this Section 3(c) 
 (d) Notice of Termination. Any termination by the Company for Cause, or by the Executive for Good Reason, shall be communicated by
Notice of Termination to the other parties hereto given in accordance with Section 12(c) of this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific
termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so
indicated and (iii) if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than thirty (30) days after the giving of such notice). The
failure by the Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company, respectively, hereunder or
preclude the Executive or the Company, respectively, from asserting such fact or circumstance in enforcing the Executive’s or the Company’s rights hereunder. 
  

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 (e) Date of Termination. “Date of Termination” means (i) if
the Executive’s employment is terminated by the Company for Cause, or by the Executive for Good Reason, the date of receipt of the Notice of Termination or any later date specified therein (which date shall not be more than thirty
(30) days after the giving of such notice), as the case may be, (ii) if the Executive’s employment is terminated by the Company other than for Cause, death or Disability, the Date of Termination shall be the date on which the Company
notifies the Executive in writing of such termination or any later date specified therein (which date shall not be more than thirty (30) days after the giving of such notice), as the case may be, (iii) if the Executive’s employment is
terminated by the Executive without Good Reason, the Date of Termination shall be ninety (90) days after the date on which the Executive notifies the Company of such termination, unless otherwise agreed by the Company and the Executive, and
(iv) if the Executive’s employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death or Disability of the Executive, as the case may be. 
 4. Obligation of the Company Upon Termination. 
 (a) Without Cause or For Good Reason. If, during the Employment Period, the Company shall terminate the Executive’s employment without Cause or the Executive shall terminate his employment for Good Reason:

 (i) The Executive shall be paid, in two lump sum payments: (A) the Executive’s earned but unpaid Base Salary and
accrued but unpaid vacation pay through the Date of Termination, and any Annual Bonus required to be paid to the Executive pursuant to Section 2(b)(ii) above for any fiscal year of the Company that ends on or before the Date of
Termination to the extent not previously paid (the “Accrued Obligations”), and (B) the Severance Amount (as hereinafter defined). For purposes hereof, the “Severance Amount” shall equal one (1) times the
sum of (I) the annual Base Salary in effect on the Date of Termination plus (II) the Bonus Severance Amount (as defined below) in effect on the Date of Termination. For purposes hereof, the Bonus Severance Amount shall equal: (A) if the
Date of Termination is in the first year of the Employment Period, $500,000 and (B) if the Date of Termination is following the first year of the Employment Period, the actual Annual Bonus that the Executive earned in the prior year, but in any
event the Bonus Severance Amount under this subsection (a)(i) shall not be less than one-half of the Target Annual Bonus for the fiscal year in which the termination occurs. The Accrued Obligations shall be paid on the Date of Termination and the
Severance Amount shall be paid no later than 30 days after the Date of Termination, in each case, subject to Section 9 below. 
 (ii) For a period of twenty-four (24) months following the Date of Termination, the Company shall continue to provide the Executive and the Executive’s eligible family members with group health insurance
coverage at least equal to that which would have been provided to them if the Executive’s employment had not been terminated (or at the Company’s election, pay the applicable COBRA premium for such coverage for that portion of the 24-month
coverage period during which COBRA is available); provided, however, that if the 

  

 9 

 
Executive becomes re-employed with another employer and is eligible to receive group health insurance coverage under another employer’s plans, the
Company’s obligations under this Section 4(a)(iii) shall be reduced to the extent comparable coverage is actually available and provided without charge to the Executive and the Executive’s eligible family members, and any such
coverage shall be reported by the Executive to the Company; 
 (iii) All outstanding and then unvested stock options,
restricted stock and other equity awards granted to the Executive under any of the Company’s equity incentive plans (or awards substituted therefore covering the securities of a successor company), including but not limited to, the Restricted
Stock grant set forth under Section 2.(b)(v), shall automatically vest without any further action by the Board or the Company; and 
 (iv) To the extent not theretofore paid or provided, the Company shall timely pay or provide to the Executive any vested benefits and other amounts or benefits required to be paid or provided or which the Executive is
eligible to receive as of the Date of Termination under any plan, program, policy or practice or contract or agreement of the Company and its affiliates (such other amounts and benefits shall be hereinafter referred to as the “Other
Benefits”). Notwithstanding the foregoing, it shall be a condition to the Executive’s right to receive the amounts and benefits provided for in Sections 4(a)(i)(B), 4(a)(ii) and 4(a)(iii) above that the Executive
execute, deliver to the Company and not revoke a release of claims in substantially the form attached hereto as Exhibit A. 
 (b) For Cause or Without Good Reason. If the Executive’s employment shall be terminated by the Company for Cause or by the Executive without Good Reason during the Employment Period, the Company shall have
no further obligations to the Executive under this Agreement other than pursuant to Sections 7 and 8 hereof, and the obligation to pay to the Executive the Accrued Obligations and to provide the Other Benefits. If the
Executive’s employment shall be terminated by the Company for Cause any unvested Restricted Stock or other equity awards granted to the Executive shall immediately cease vesting and the unvested portion thereof shall terminate and be of no
further force or effect. In addition, if the Executive’s employment shall be terminated by the Company for Cause as a result of his failure to cure a material breach of any of the provisions of the Noncompetition Agreement or the Non-Disclosure
Agreement, then the Executive agrees that any and all profits realized by the Executive directly as a result of such breach within the twenty-four (24) month period prior to the Date of Termination shall be disgorged and promptly repaid to the
Company and the Company shall have the right to offset any amounts owing to the Executive against such repayment obligation. 
 (c) Death or Disability. If the Executive’s employment is terminated by reason of the Executive’s death or Disability during the Employment Period: 
 (i) The Accrued Obligations shall be paid to the Executive’s estate or beneficiaries or to the Executive, as applicable, in cash
within 30 days of the Date of Termination; 
  

 10 

 (ii) 100% of the Executive’s annual Base Salary and Target Annual Bonus, each as in
effect on the Date of Termination, shall be paid to the Executive’s estate or beneficiaries or to the Executive, as applicable, within 30 days of the Date of Termination; 
 (iii) All outstanding and then unvested stock options, restricted stock and other equity awards granted to the Executive under any of the
Company’s equity incentive plans (or awards substituted therefore covering the securities of a successor company), including but not limited to the Restricted Stock grant set forth under Section 2.(b)(v), shall automatically vest without
any further action by the Board or the Company; and 
 (iv) For a period of twenty-four months following the Date of
Termination, the Executive and the Executive’s eligible family members shall continue to be provided with group health insurance coverage at least equal to that which would have been provided to them if the Executive’s employment had not
been terminated (or at the Company’s election, pay the applicable COBRA premium for such coverage for that portion of the 24-month coverage period during which COBRA is available); provided, however, that if the Executive becomes
re-employed with another employer and is eligible to receive group health insurance coverage under another employer’s plans, the Company’s obligations under this Section 4(d)(iv) shall be reduced to the extent comparable
coverage is actually available and provided without charge to the Executive and the Executive’s eligible family members, and any such coverage shall be reported by the Executive to the Company; and 
 (v) The Other Benefits shall be paid or provided to the Executive on a timely basis. 
 5. Termination Upon a Change in Control. If a Change in Control (as defined herein) occurs during the Employment Period, and the Executive’s
employment is terminated by the Company without Cause or by the Executive for Good Reason, in each case within two (2) years after or six (6) months prior to the effective date of the Change in Control, provided that in any event such
termination shall have occurred after the earlier of (i) the date on which a definitive agreement is entered into with respect to the Change of Control transaction or (ii) the date on which the first public announcement is made with
respect to such transaction, then the Executive shall be entitled to the payments and benefits provided in Section 4(a), subject to the terms and conditions thereof; provided, that for purposes of this Section 5, the
Severance Amount shall equal an amount equal to three (3) times the sum of (x) the Base Salary in effect on the Date of Termination or immediately prior to the Change in Control, whichever is greater, plus (y) the actual Annual Bonus
that the Executive earned in the prior year. For purposes of this Agreement, “Change in Control” shall mean the occurrence of any of the following events: 
 (i) Any transaction or event resulting in the beneficial ownership of voting securities, directly or indirectly, by any “person”
or “group” (as those terms are defined in Sections 3(a)(9), 13(d), and 14(d) of the Exchange Act and the rules thereunder) having “beneficial ownership” (as determined pursuant to Rule 13d-3 under the Exchange Act) of
securities entitled to vote generally in the election of directors (“voting securities”), or securities convertible or exercisable into voting securities, of Sunstone that represent greater than 35% of the combined voting power of
Sunstone’s then outstanding voting securities (unless Executive has beneficial ownership of at least 35% of such voting securities), other than any transaction or event resulting in the beneficial ownership of securities: 
 (A) By a trustee or other fiduciary holding securities under any employee benefit plan (or related trust) sponsored or maintained by
Sunstone or any person majority owned by Sunstone or by any employee benefit plan (or related trust) sponsored or maintained by Sunstone or any person majority owned by Sunstone, or 
  

 11 

 (B) By Sunstone or a corporation owned, directly or indirectly, by the stockholders of
Sunstone in substantially the same proportions as their ownership of the stock of Sunstone, or 
 (C) Pursuant to a
transaction described in clause (iii) below that would not be a Change in Control under clause (iii), or 
 (ii)
Individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director
subsequent to the date hereof whose election by Sunstone’s stockholders, or nomination for election by the Board, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though
such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an election contest with respect to the election or removal of directors or other
solicitation of proxies or consents by or on behalf of a person other than the Board; 
 (iii) The consummation by Sunstone
and/or the Operating Partnership (whether directly involving Sunstone and/or the Operating Partnership or indirectly involving Sunstone and/or the Operating Partnership through one or more intermediaries) of (x) a merger, consolidation,
reorganization, or business combination or (y) a sale or other disposition of all or substantially all of Sunstone’s and/or the Operating Partnership’s assets or (z) the acquisition of assets or stock of another entity, in each
case, other than a transaction 
 (A) which results in Sunstone’s voting securities outstanding immediately before the
transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of Sunstone or the person that, as a result of the transaction, controls, directly or indirectly, Sunstone or owns, directly or
indirectly, all or substantially all of Sunstone’s assets or otherwise succeeds to the business of Sunstone (Sunstone or such person, the “Successor Entity”)) directly or indirectly, greater than 50% of the combined voting
power of the Successor Entity’s outstanding voting securities immediately after the transaction in substantially the same proportion as their ownership of voting securities before such transaction, and 
 (B) after which no person or group beneficially owns voting securities representing greater than 35% of the combined voting power of the
Successor Entity; provided, however, that no person or group shall be treated for purposes of this clause (B) as beneficially owning greater than 35% of the combined voting power of the Successor Entity solely as a result of the voting
power held in Sunstone prior to the consummation of the transaction; or 
  

 12 

 (iv) The approval by Sunstone’s stockholders of a liquidation or dissolution of
Sunstone. 
 (v) Any transaction or event as a result of which neither Sunstone nor a Company Affiliate (i) owns at least
ninety percent (90%) of the outstanding membership interests of the Operating Partnership and (ii) serves as the sole managing member of the Operating Partnership. 
 For purposes of clause (i) above, the calculation of voting power shall be made as if the date of the acquisition were a record date for a vote of
Sunstone’s stockholders, and for purposes of clause (iii) above, the calculation of voting power shall be made as if the date of the consummation of the transaction were a record date for a vote of Sunstone’s stockholders. 

6. Intentionally Omitted. 
 7.
Full Settlement. Other than the Company’s rights of offset under the limited circumstances set forth under Section 4.(b) above, the Company’s obligation to make the payments provided for in this Agreement and otherwise to
perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the Executive or others. In no event shall the Executive be obligated to
seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and except as expressly provided, such amounts shall not be reduced whether or not the
Executive obtains other employment. If any party to this Agreement institutes any action, suit, counterclaim, appeal, arbitration or mediation for any relief against another party, declaratory or otherwise (collectively an
“Action”), to enforce the terms hereof or to declare rights hereunder, then the Prevailing Party (if any) in such Action shall be entitled to recover from the other party all costs and expenses of the Action, including reasonable
attorneys’ fees and costs (at the Prevailing Party’s attorneys’ then-prevailing rates) incurred in bringing and prosecuting or defending such Action and/or enforcing any judgment, order, ruling or award (collectively, a
“Decision”) granted therein, all of which shall be deemed to have accrued on the commencement of such Action and shall be paid whether or not such Action is prosecuted to a Decision. Any Decision entered in such Action shall contain
a specific provision providing for the recovery by the Prevailing Party (if any) of attorneys’ fees and costs incurred in enforcing such Decision. A court or arbitrator shall fix the amount of reasonable attorneys’ fees and costs upon the
request of either party. Any judgment or order entered in any final judgment shall contain a specific provision providing for the recovery of all costs and expenses of suit, including reasonable attorneys’ fees and expert fees and costs
incurred in enforcing, perfecting and executing such judgment. For the purposes of this paragraph, costs shall include, without limitation, in addition to costs incurred in prosecution or defense of the underlying action, reasonable attorneys’
fees, costs, expenses and expert fees and costs incurred in the following: (a) postjudgement motions and collection actions; (b) contempt proceedings; (c) garnishment, levy, debtor and third party examinations; (d) discovery;
(e) bankruptcy litigation; and (f) appeals of any order or judgment. 

  

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“Prevailing Party” means a party who agrees to dismiss an Action brought by such party (excluding an Action instituted in contravention of
the requirements of Paragraph 12(b) below) in consideration for the other party’s payment of substantially all the amounts allegedly due or substantial performance of the covenants allegedly breached, or obtains substantially the relief sought
by such party. 
 8. Certain Additional Payments by the Company. 
 (a) Anything in this Agreement to the contrary notwithstanding and except as set forth below, in the event it shall be determined that any
Payment would be subject to the Excise Tax, then the Executive shall be entitled to receive an additional payment (the “Excise Tax Gross-Up Payment”) in an amount such that, after payment by the Executive of all taxes (and any
interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Excise Tax Gross-Up Payment, the Executive
retains an amount of the Excise Tax Gross-Up Payment equal to the Excise Tax imposed upon the Payments. Notwithstanding the foregoing provisions of this Section 8(a), if it shall be determined that the Executive is entitled to the Excise
Tax Gross-Up Payment, but that the Parachute Value of all Payments does not exceed 110% of the Safe Harbor Amount, then no Excise Tax Gross-Up Payment shall be made to the Executive and the amounts payable under this Agreement shall be reduced so
that the Parachute Value of all Payments, in the aggregate, equals the Safe Harbor Amount. The reduction of the amounts payable hereunder, if applicable, shall be made by first reducing the payments under Section 4(a)(i), unless an
alternative method of reduction is elected by the Executive, and in any event shall be made in such a manner as to maximize the Value of all Payments actually made to the Executive. For purposes of reducing the Payments to the Safe Harbor Amount,
only amounts payable under this Agreement (and no other Payments) shall be reduced. If the reduction of the amount payable under this Agreement would not result in a reduction of the Parachute Value of all Payments to the Safe Harbor Amount, no
amounts payable under the Agreement shall be reduced pursuant to this Section 8(a). The Company’s obligation to make Excise Tax Gross-Up Payments under this Section 8 shall not be conditioned upon the Executive’s
termination of employment. 
 (b) Subject to the provisions of Section 8(c), all determinations required to be
made under this Section 8, including whether and when an Excise Tax Gross-Up Payment is required, the amount of such Excise Tax Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made by such
nationally recognized accounting firm as may be selected by the Company and reasonably acceptable to the Executive (the “Accounting Firm”); provided, that the Accounting Firm’s determination shall be made based upon
“substantial authority” within the meaning of Section 6662 of the Code. The Accounting Firm shall provide detailed supporting calculations both to the Company and the Executive within 15 business days of the receipt of notice from the
Executive that there has been a Payment or such earlier time as is requested by the Company. All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Excise Tax Gross-Up Payment, as determined pursuant to this
Section 8, shall be paid by the Company to the Executive within five days of the receipt of the Accounting Firm’s determination. Any determination by the Accounting Firm shall be binding upon the Company and the Executive, unless
the Company obtains an opinion of outside 

  

 14 

 
legal counsel, based upon at least “substantial authority” within the meaning of Section 6662 of the Code, reaching a different determination,
in which event such legal opinion shall be binding upon the Company and the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it
is possible that Excise Tax Gross-Up Payments that will not have been made by the Company should have been made (the “Underpayment”), consistent with the calculations required to be made hereunder. In the event the Company exhausts
its remedies pursuant to Section 8(c) and the Executive thereafter is required to make a payment of any Excise Tax, including any payment of such Excise Tax by the Company which is treated as wages paid to Executive, the Accounting Firm
shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of the Executive. 
 (c) The Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require the
payment by the Company of the Excise Tax Gross-Up Payment. Such notification shall be given as soon as practicable, but no later than 10 business days after the Executive is informed in writing of such claim. The Executive shall apprise the Company
of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the 30-day period following the date on which the Executive gives such notice to the Company (or
such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior to the expiration of such period that the Company desires to contest such claim, the
Executive shall: 
 (i) give the Company any information reasonably requested by the Company relating to such claim,

 (ii) take such action in connection with contesting such claim, as the Company shall reasonably request in writing from
time to-time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company, 
 (iii) cooperate with the Company in good faith in order effectively to contest such claim, and 
 (iv) permit the Company to participate in any proceedings relating to such claim; 
 provided, however, that the Company shall bear
and pay directly all costs and expenses (including additional interest and penalties) incurred in connection with such-contest, and shall indemnify and hold the Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including
interest and penalties) imposed as a result of such representation and payment of costs and expenses. Without limitation on the foregoing provisions of this Section 8(c), the Company shall control all proceedings taken in connection with
such contest, and, at its sole discretion, may pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the applicable taxing authority in respect of such claim and may, at its sole discretion, either direct the
Executive to pay the tax claimed and sue for a refund or contest the 

  

 15 

 
claim in any permissible manner, and the Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of
initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided, however, that, if the Company directs the Executive to pay such claim and sue for a refund, the Company shall advance the amount of such
payment to the Executive, on an interest-free basis, and shall indemnify and hold the Executive harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties) imposed with respect to such advance or with respect
to any imputed income in connection with such advance; and provided, further, that any extension of the statute of limitations relating to payment of taxes for the taxable year of the Executive with respect to which such contested
amount is claimed to be due is limited solely to such contested amount. Furthermore, the Company’s control of the contest shall be limited to issues with respect to which the Excise Tax Gross-Up Payment would be payable hereunder, and the
Executive shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 
 (d) If, after the receipt by the Executive of an Excise Tax Gross-Up Payment or an amount advanced by the Company pursuant to Section 8(c), the Executive becomes entitled to receive any refund with respect
to the Excise Tax to which such Excise Tax Gross-Up Payment relates or with respect to such claim, the Executive shall (subject to the Company’s complying with the requirements of Section 8(c), if applicable) promptly pay to the
Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to Section 8(c), a determination
is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such
determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Excise Tax Gross-Up Payment required to be paid. 
 (e) Notwithstanding any other provision of this Section 8, the Company may, in its sole discretion, withhold and pay over to
the Internal Revenue Service or any other applicable taxing authority, for the benefit of the Executive, all or any portion of any Excise Tax Gross-Up Payment, and the Executive hereby consents to such withholding. 
 (f) Any other liability for unpaid or unwithheld Excise Taxes shall be borne exclusively by the Company, in accordance with
Section 3403 of the Code. The foregoing sentence shall not in any manner relieve the Company of any of its obligations under this Employment Agreement. 
 (g) The parties to this Agreement intend that the provisions of this Section 8 is to put the Executive into the same position
he would have been in had the Excise Tax not been applicable to him. These provisions shall be interpreted in a manner consistent with this intention. 
  

 16 

 (h) Definitions. The following terms shall have the following meanings for
purposes of this Section 8: 
 (i) “Excise Tax” shall mean the excise tax imposed by
Section 4999 of the Code, together with any interest or penalties imposed with respect to such excise tax. 
 (ii)
“Parachute Value” of a Payment shall mean the present value as of the date of the change of control for purposes of Section 280G of the Code of the portion of such Payment that constitutes a “parachute payment” under
Section 280G(b)(2), as determined by the Accounting Firm for purposes of determining whether and to what extent the Excise Tax will apply to such Payment. 
 (iii) A “Payment” shall mean any payment or distribution in the nature of compensation (within the meaning of
Section 280G(b)(2) of the Code) to or for the benefit of the Executive, which is paid or payable pursuant to this Agreement. 
 (iv) The “Safe Harbor Amount” shall mean 2.99 times the Executive’s “base amount,” within the meaning of Section 280G(b)(3) of the Code. 
 (v) “Value” of a Payment shall mean the economic present value of a Payment as of the date of the change of control for
purposes of Section 280G of the Code, as determined by the Accounting Firm using the discount rate required by Section 280G(d)(4) of the Code. 
 9. Effect of Section 409A of the Code. Notwithstanding anything to the contrary in this Agreement, if the Company determines (i) that on the date Executive’s employment with the Company
terminates or at such other time that the Company determines to be relevant, Executive is a “specified employee” (as such term is defined under Section 409A) of the Company and (ii) that any payments to be provided to Executive
pursuant to this Agreement are or may become subject to the additional tax under Section 409A(a)(1)(B) of the Code or any other taxes or penalties imposed under Section 409A of the Code (“Section 409A Taxes”) if provided
at the time otherwise required under this Agreement then (A) such payments shall be delayed until the date that is six months after date of Executive’s “separation from service” (as such term is defined under Section 409A of
the Code) with the Company, or such shorter period that, as determined by the Company, is sufficient to avoid the imposition of Section 409A Taxes (the “Payment Delay Period”) and (B) such payments shall be increased by an
amount equal to interest on such payments for the Payment Delay Period at a rate equal to the prime rate in effect as of the date the payment was first due plus one point (for this purpose, the prime rate will be based on the rate published from
time to time in The Wall Street Journal). 
 10. Successors. 
 (a) This Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable by the
Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s heirs, beneficiaries and legal representatives. 
  

 17 

 (b) This Agreement shall inure to the benefit of and be binding upon the Company and its
successors and assigns. 
 (c) The Company will require any successor (whether direct or indirect, by purchase merger,
consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, as a condition precedent to the consummation of such transaction, to assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid
which assumes and agrees to perform this Agreement by operation of law, or otherwise. 
 11. Payment of Financial Obligations. The
payment or provision to the Executive by the Company of any remuneration, benefits or other financial obligations pursuant to this Agreement shall be allocated to the Operating Partnership, Sunstone and, if applicable, any subsidiary and/or
affiliate thereof in accordance with any employee sharing and expense allocation agreement, by and between Sunstone and the Operating Partnership, as in effect from time to time. Notwithstanding anything contained in this Agreement to the contrary,
Sunstone and the Operating Partnership shall be jointly and severally liable for the payment and performance of all obligations, covenants and agreements of the Company set forth herein. 
 12. Miscellaneous. 
 (a) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California, without reference to principles of conflict of laws. The captions of this Agreement are not part of the
provisions hereof and shall have no force or effect. This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives. 
 (b) Arbitration. To the fullest extent allowed by law, any controversy, claim or dispute between Executive and the Company (and/or
any of its owners, directors, officers, employees, affiliates, or agents) relating to or arising out of Executive’s employment or the cessation of that employment will be submitted to final and binding arbitration in the county in which
Executive work(ed) for determination in accordance with the American Arbitration Association’s (“AAA”) National Rules for the Resolution of Employment Disputes, as the exclusive remedy for such controversy, claim or dispute. In any
such arbitration, the parties may conduct discovery in accordance with the applicable rules of the arbitration forum, except that the arbitrator shall have the authority to order and permit discovery, as the arbitrator may deem necessary and
appropriate in accordance with applicable state or federal discovery statutes. The arbitrator shall issue a reasoned, written decision, and shall have full authority to award all remedies which would be available in court. The parties shall share
the filing fees required for the arbitration, provided that Executive shall not be required to pay an amount in excess of the filing fees required by a federal or state court with jurisdiction. The Company shall pay the arbitrator’s fees and
any AAA administrative expenses. Any judgment upon the award rendered 

  

 18 

 
by the arbitrator(s) may be entered in any court having jurisdiction thereof. Possible disputes covered by the above include (but are not limited to) unpaid
wages, breach of contract, torts, violation of public policy, discrimination, harassment, or any other employment-related claims under laws including but not limited to, Title VII of the Civil Rights Act of 1964, the Americans With Disabilities Act,
the Age Discrimination in Employment Act, the California Fair Employment and Housing Act, the California Labor Code, and any other statutes or laws relating to an employee’s relationship with his/her employer, regardless of whether such dispute
is initiated by the employee or the Company. Thus, this bilateral arbitration agreement applies to any and all claims that the Company may have against an employee, including but not limited to, claims for misappropriation of Company property,
disclosure of proprietary information or trade secrets, interference with contract, trade libel, gross negligence, or any other claim for alleged wrongful conduct or breach of the duty of loyalty by an employee. However, notwithstanding anything to
the contrary contained herein, Company and Executive shall have their respective rights to seek and obtain injunctive relief with respect to any controversy, claim or dispute to the extent permitted by law. Claims for workers’ compensation
benefits and unemployment insurance (or any other claims where mandatory arbitration is prohibited by law) are not covered by this arbitration agreement, and such claims may be presented by either Executive or the Company to the appropriate court or
government agency. BY AGREEING TO THIS BINDING ARBITRATION PROVISION, BOTH EXECUTIVE AND THE COMPANY GIVE UP ALL RIGHTS TO TRIAL BY JURY. This arbitration agreement is to be construed as broadly as is permissible under applicable law. 
 (c) Notices. All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other
party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
 If to the
Executive: at the Executive’s most recent address on the records of the Company, 
 If to Sunstone or the
Operating Partnership: 
 Sunstone Hotel Investors, Inc. 
 903 Calle Amanecer, Suite 100 
 San Clemente, California 92673 
 Attn: Corporate Secretary 
 with a copy to:

 Gibson, Dunn & Crutcher LLP 
 333 South Grand Avenue 
 Los Angeles, California 90071 
 Attn: Michael F. Sfregola, Esq. 
 or to such other address as either party shall have furnished to the other in writing in
accordance herewith. Notice and communications shall be effective when actually received by the addressee. 
 (d)
Sarbanes-Oxley Act of 2002. Notwithstanding anything herein to the contrary, if the Board determines, in its good faith judgment, that any transfer or deemed transfer 

  

 19 

 
of funds hereunder is likely to be construed as a personal loan prohibited by Section 13(k) of the Exchange Act and the rules and regulations
promulgated thereunder, then such transfer or deemed transfer shall not be made to the extent necessary or appropriate so as not to violate the Exchange Act and the rules and regulations promulgated thereunder; provided, however, that, to the extent
legally possible, substantially commensurate economic benefits shall be provided to executive through payments that are not prohibited under said Section 13(k). 
 (e) Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or
enforceability of any other provision of this Agreement. If any provision or term hereof is deemed to have exceeded applicable legal authority or shall be in conflict with applicable legal limitations, such provision shall be reformed and rewritten
as necessary to achieve consistency with such applicable law. 
 (f) Withholding. The Company may withhold from any
amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. In addition, notwithstanding any other provision of this Agreement, the Company may,
in its sole discretion, withhold and pay over to the Internal Revenue Service or any other applicable taxing authority, for the benefit of the Executive, all or any portion of any Excise Tax Gross-Up Payment and the Executive hereby consents to such
withholding. 
 (g) No Waiver. The Executive’s or the Company’s failure to insist upon strict compliance with
any provision of this Agreement or the failure to assert any right the Executive or the Company may have hereunder, including, without limitation, the right of the Executive to terminate employment for Good Reason pursuant to
Section 3(c) of this Agreement, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 
 (h) Entire Agreement. As of the Effective Date, this Agreement, the Noncompetition Agreement, the Non-Disclosure Agreement, the
Restricted Stock Agreement and the Indemnification Agreement, each of which is being entered into between the parties concurrently herewith, constitute the final, complete and exclusive agreement between the Executive and the Company with respect to
the subject matter hereof and replaces and supersedes any and all other agreements, offers or promises, whether oral or written, made to Executive by any member of the Sunstone Group or any entity (a “Predecessor Employer”), or
representative thereof, whose business or assets any member of the Sunstone Group succeeded to in connection with the initial public offering of the common stock of Sunstone or the transactions related thereto. The Executive agrees that any such
agreement, offer or promise between the Executive and a Predecessor Employer (or any representative thereof) is hereby terminated and will be of no further force or effect, and the Executive acknowledges and agrees that upon his execution of this
Agreement, he will have no right or interest in or with respect to any such agreement, offer or promise. 
 (i)
Consultation with Counsel. The Executive acknowledges that he has had a full and complete opportunity to consult with counsel and other advisors of his own choosing concerning the terms, enforceability and implications of this Agreement, and
that the Company has not made any representations or warranties to the Executive concerning the terms, enforceability or implications of this Agreement other than as reflected in this Agreement. 
  

 20 

 (j) Representations and Warranties. The Executive represents and warrants to the
Company that (i) this Agreement is valid and binding upon and enforceable against him in accordance with its terms, (ii) the Executive is not bound by or subject to any contractual or other obligation that would be violated by his
execution or performance of this Agreement, including, but not limited to, any non-competition agreement presently in effect, and (iii) the Executive is not subject to any pending or, to the Executive’s knowledge, threatened claim, action,
judgment, order, or investigation that could adversely affect his ability to perform his obligations under this Agreement or the business reputation of the Company. The Executive has not entered into, and agrees that he will not enter into, any
agreement either written or oral in conflict herewith 
 (k) Counterparts. This Agreement may be executed
simultaneously in two counterparts, each of which shall be deemed an original but which together shall constitute one and the same instrument. 
 [signatures follow next page] 
  

 21 

 IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and, pursuant to the
authorization from the Board, the Company has caused these presents to be executed in its name on its behalf, all as of the day and year first above written. 
  

			
	 SUNSTONE HOTEL INVESTORS, INC.,
 a
Maryland corporation

		
	By:	 	  
		 	Name:
		 	Its:

  

			
	 SUNSTONE HOTEL PARTNERSHIP, LLC,
 a
Delaware limited liability company

		
	By:	 	 Sunstone Hotel Investors, Inc.
 Its: Managing
Member

		
	By:	 	  
		 	Name:
		 	Its:

  

			
	“EXECUTIVE”
	
	  
	Name: Steven R. Goldman

  

 22

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