Document:

Purchase and Sale Agreement

 Exhibit 10.1 
 Execution Version 
 PURCHASE AND SALE AGREEMENT 

between 

DIG EH HOTEL LLC 
 as Seller 
 and 

SHR ESSEX HOUSE LLC 
 as Purchaser 
 Relating to 

The Essex House 
 in New York, New York 
 dated 

August 13, 2012 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 1.      Property Identification
	  	 	1	  
		
	 1.1    Property Identification
	  	 	1	  
	 1.2    Excluded Property
	  	 	2	  
		
	 2.      Purchase Price
	  	 	3	  
		
	 3.      Title and Survey Matters
	  	 	4	  
		
	 3.1    Update of Title
	  	 	4	  
	 3.2    Approval of Title and Existing Survey
	  	 	4	  
	 3.3    Title Insurance
	  	 	5	  
		
	 4.      Inspection; Covenants
	  	 	5	  
		
	 4.1    Access
	  	 	5	  
	 4.2    Liquor License
	  	 	7	  
	 4.3    Activities Prior to Closing
	  	 	8	  
	 4.4    Additional Condominium Units
	  	 	11	  
		
	 5.      Casualty Damage or Condemnation
	  	 	11	  
		
	 5.1    Casualty
	  	 	11	  
	 5.2    Condemnation
	  	 	11	  
	 5.3    NY General Obligations Law Section 5-1311
	  	 	12	  
		
	 6.      Representations, Warranties and Covenants
	  	 	12	  
		
	 6.1    Seller’s Representations
	  	 	12	  
	 6.2    Indemnity; Survival; Limitation of Liability
	  	 	18	  
	 6.3    Purchaser’s Representations
	  	 	19	  
	 6.4    Property Conveyed “As Is”
	  	 	21	  
	 6.5    Release
	  	 	21	  
		
	 7.      Conditions Precedent
	  	 	22	  
		
	 7.1    Conditions Precedent to Purchaser’s Obligations
	  	 	22	  
	 7.2    Conditions Precedent to Seller’s Obligations
	  	 	23	  
		
	 8.      Closing
	  	 	23	  
		
	 8.1    Closing Date
	  	 	23	  
	 8.2    Seller’s Deliveries
	  	 	23	  
	 8.3    Purchaser’s Deliveries
	  	 	25	  
	 8.4    Costs and Prorations
	  	 	26	  
	 8.5    Guest Ledger Receivables
	  	 	28	  
	 8.6    Other Receivables
	  	 	29	  
	 8.7    Insurance Premiums
	  	 	29	  
	 8.8    Unredeemed Gift Items
	  	 	29	  
	 8.9    Records
	  	 	29	  
	 8.10 Notice to Tenants under the Leases
	  	 	29	  
	 8.11 Branded Inventory, Supplies and Materials
	  	 	30	  
	 8.12 Liquor Inventory
	  	 	30	  
		
	 9.      Real Estate Commissions
	  	 	30	  

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 10.    Termination And Default
	  	 	30	  
		
	 10.1   Termination by Purchaser
	  	 	30	  
	 10.2   PURCHASER’S DEFAULT; LIQUIDATED DAMAGES – DEPOSIT
	  	 	30	  
	 10.3   Seller’s Default
	  	 	31	  
	 10.4   Break Up Fee
	  	 	31	  
	 10.5   Survival
	  	 	31	  
		
	 11.    Employment and Employee Benefit Matters
	  	 	31	  
		
	 11.1   Bargaining Unit Employees
	  	 	31	  
	 11.2   Non-Bargaining Unit Employees
	  	 	32	  
	 11.3   WARN Act
	  	 	33	  
	 11.4   Indemnification
	  	 	33	  
	 11.5   Sale of Assets – ERISA
	  	 	33	  
	 11.6   Cooperation
	  	 	34	  
	 11.7   Release of Employee Personnel Records
	  	 	34	  
	 11.8   Third Party Rights
	  	 	34	  
	 11.9   Survival
	  	 	34	  
		
	 12.    Miscellaneous
	  	 	35	  
		
	 12.1   Entire Agreement
	  	 	35	  
	 12.2   Binding On Successors and Assigns
	  	 	35	  
	 12.3   Assignment by Purchaser
	  	 	35	  
	 12.4   Waiver
	  	 	35	  
	 12.5   Governing Law; Submission to Jurisdiction
	  	 	35	  
	 12.6   Counterparts
	  	 	36	  
	 12.7   Notices
	  	 	36	  
	 12.8   Attorneys’ Fees
	  	 	37	  
	 12.9   IRS Real Estate Sales Reporting
	  	 	37	  
	 12.10 Time Periods
	  	 	37	  
	 12.11 Modification of Agreement
	  	 	37	  
	 12.12 Further Instruments
	  	 	37	  
	 12.13 Descriptive Headings
	  	 	38	  
	 12.14 Time of the Essence
	  	 	38	  
	 12.15 Business Day
	  	 	38	  
	 12.16 Construction of Agreement
	  	 	38	  
	 12.17 JURY TRIAL WAIVER
	  	 	38	  
	 12.18 Survival
	  	 	38	  
	 12.19 Submission not an Offer or Option
	  	 	38	  
	 12.20 Disclosure
	  	 	38	  
	 12.21 Guest Baggage and Safe Deposit Boxes
	  	 	39	  
		
	 13.    General Escrow Provisions
	  	 	39	  

  
 ii 

 Exhibits 

 

					
	Exhibit 1.1(a)	 	—  	  	Description of Hotel Unit
	Exhibit 1.1(b)	 	—  	  	Description of Commercial Unit
	Exhibit 1.1(c)	 	—  	  	Description of Residential Units
	Exhibit 1.2(e)	 	—  	  	Jumeriah Excluded Personalty
	Exhibit 2.1(b)(i)	 	—  	  	Wiring Instructions
	Exhibit 4.3(h)(1)	 	—  	  	Form of Affidavit of Offeree
	Exhibit 4.3(h)(2)	 	—  	  	Form of Affidavit of Offeror
	Exhibit 4.3(j)	 	—  	  	Form of Request to Mortgage Lender
	Exhibit 6.2(e)	 	—  	  	Post Closing Escrow Agreement
	Exhibit 8.2(a)	 	—  	  	Form of Deed
	Exhibit 8.2(b)	 	—  	  	Form of Bill of Sale and General Assignment
	Exhibit 8.2(c)	 	—  	  	Form of Assignment and Assumption of Leases
	Exhibit 8.2(d)	 	—  	  	Form of Assignment of Bookings and Booking Deposits
	Exhibit 8.2(e)	 	—  	  	Form of Assignment of Trademark
	Exhibit 8.2(g)	 	—  	  	Form of Notice to Vendors
	Exhibit 8.2(i)	 	—  	  	Form of FIRPTA Certificate
	Exhibit 8.2(k)	 	—  	  	Form of Seller’s Affidavit to Title Company
	Exhibit 8.2(r)	 	—  	  	Form of Condominium Estoppel
	Exhibit 8.2(w)	 	—  	  	Form of Assignment and Assumption of Condominium Declaration
	Exhibit 8.3(c)	 	—  	  	Form of Assumption of Union Contract

  
 iii

 DEFINITIONS 
  

					
	  	  	 Reference
	 
	 2006 Plan
	  	 	6.1(w)(i)	  
	 Access and Exclusivity Agreement
	  	 	4.1(a)(iv)	  
	 Affiliate
	  	 	12.3	  
	 Agreement
	  	 	Introduction	  
	 Allocation
	  	 	2(b)(i)	  
	 Balance of the Purchase Price
	  	 	2(a)(iii)	  
	 Bargaining Unit Employees
	  	 	11.1	  
	 Bill of Sale and Assignment
	  	 	8.2(b)	  
	 Board
	  	 	6.1(w)(i)	  
	 Bookings
	  	 	4.3(a)	  
	 Broker
	  	 	4.1(b)	  
	 Business Day
	  	 	12.15	  
	 Closing
	  	 	8.1(a)	  
	 Closing Date
	  	 	8.1(a)	  
	 Closing Statements
	  	 	8.4(b)	  
	 Code
	  	 	2(b)(iii)	  
	 Commercial Unit
	  	 	1.1(b)	  
	 Comp Letters
	  	 	6.1(aa)	  
	 Condominium Charges
	  	 	8.4(b)(viii)	  
	 Condominium Declaration
	  	 	6.1(w)(i)	  
	 Condominium Management Agreement
	  	 	6.1(w)(iii)	  
	 Condominium Units
	  	 	1.1(c)	  
	 Confidentiality Agreement
	  	 	4.1(b)	  
	 Cut-Off Time
	  	 	8.5	  
	 Data Site
	  	 	4.1(a)	  
	 Departmental Searches
	  	 	6.1(g)	  
	 Deposit
	  	 	2(a)(i)	  
	 Depositors
	  	 	12.21(b)	  
	 Employee Benefit Plans
	  	 	6.1(o)(i)	  
	 Environmental Requirements
	  	 	4.1(a)(ii)	  
	 ERISA
	  	 	6.1(o)(i)	  
	 ERISA Affiliate
	  	 	11.4(a)	  
	 Escrow Account
	  	 	2(a)(ii)	  
	 Escrow Agent
	  	 	2(a)(i)	  
	 Execution Date
	  	 	3.1	  
	 Existing Lender
	  	 	4.3(j)(i)	  
	 Existing Survey
	  	 	3.1	  
	 Existing Title Policy
	  	 	3.1	  
	 FATCO
	  	 	3.1	  
	 FF&E Balance
	  	 	8.4(b)(ix)	  
	 Final Closing Statement
	  	 	8.4(b)	  
	 Gift Cards and Certificates
	  	 	6.1(aa)	  
	 Gift Items
	  	 	6.1(aa)	  
	 Gift Shop Lease
	  	 	1.1(k)	  
	 Gift Shop Tenant
	  	 	1.1(k)	  
	 Hazardous Materials
	  	 	4.1(a)(ii)	  
	 Hotel Management Agreement
	  	 	8.2(t)	  
	 Hotel Manager
	  	 	1.2	  
	 Hotel-Related Units
	  	 	1.1(b)	  
	 Hotel Unit
	  	 	1.1(a)	  

  
 iv 

					
	 Hotel Unit IP, Books and Records
	  	 	1.1(h)	  
	 Improvements
	  	 	1.1(d)	  
	 Inspection Agreement
	  	 	4.1(b)	  
	 Insurance Policies
	  	 	1.2	  
	 Intangible Property
	  	 	1.1(f)	  
	 Intellectual Property
	  	 	1.1(i)	  
	 Interim Agreement
	  	 	4.2	  
	 Interim Jumeirah Agreement
	  	 	7.1(g)	  
	 Jewelry Lease
	  	 	1.1(k)	  
	 Jewelry Shop Tenant
	  	 	1.1(k)	  
	 Land
	  	 	1.1(a)	  
	 Lease(s)
	  	 	1.1(k)	  
	 Liquor License
	  	 	4.2	  
	 Losses
	  	 	4.1(a)(ii)	  
	 Material Adverse Effect
	  	 	6.1(f)	  
	 Miscellaneous Accounts Receivable
	  	 	8.6	  
	 Mortgage Assignment
	  	 	4.3(j)(i)	  
	 Multiemployer Plan
	  	 	6.1(o)(ii)	  
	 No-Action Application
	  	 	4.3(h)	  
	 Non-Bargaining Unit Employees
	  	 	11.2	  
	 OAG
	  	 	4.3(g)	  
	 Permitted Exceptions
	  	 	3.2(a)	  
	 Permits
	  	 	1.1(f)	  
	 Person
	  	 	12.3	  
	 Personal Property
	  	 	1.1(e)	  
	 Preliminary Closing Statement
	  	 	8.4(b)	  
	 Property
	  	 	1.1	  
	 Property Contracts
	  	 	1.1(g)	  
	 Purchaser
	  	 	Introduction	  
	 Purchaser Access Party(ies)
	  	 	4.1(a)	  
	 Purchaser Claims
	  	 	6.2	  
	 Purchaser’s Lender Designee
	  	 	4.3(j)(i)	  
	 Purchaser Party(ies)
	  	 	6.2	  
	 Purchase Price
	  	 	2	  
	 Real Property
	  	 	1.1	  
	 Reservations
	  	 	1.1(j)	  
	 Reservation Deposits
	  	 	1.1(j)	  
	 Residential Units
	  	 	1.1(c)	  
	 Retained Baggage
	  	 	12.21(a)	  
	 Revised Allocation
	  	 	2(b)(i)	  
	 Seller
	  	 	Introduction	  
	 Seller Claims
	  	 	6.3	  
	 Seller Encumbrance
	  	 	3.2(a)	  
	 Seller Party(ies)
	  	 	6.3	  
	 Seller’s Letter
	  	 	2(b)(i)	  
	 Seller Verification Notices
	  	 	12.21(b)	  
	 SLA
	  	 	4.2	  
	 SOL Reps
	  	 	6.2(b)	  
	 Surety Period
	  	 	11.5	  
	 Tax Reps
	  	 	6.2(c)	  
	 Tenant(s)
	  	 	1.1(k)	  
	 Tenant Deposit(s)
	  	 	1.1(k)	  
	 Terminable Contract
	  	 	4.3(a)	  
	 Title Commitment
	  	 	3.1	  
	 Title Company
	  	 	3.1	  
	 Title IV Plan
	  	 	6.1(o)(i)	  

  
 v 

					
	 Title Policy
	  	 	3.3	  
	 Transferred Employees
	  	 	11.2	  
	 Union Benefit Plans
	  	 	11.1	  
	 Union Contract
	  	 	11.1	  
	 Union Pension Plan
	  	 	11.5(a)	  
	 WARN Act
	  	 	11.3	  

  
 vi 

 PURCHASE AND SALE AGREEMENT 

THIS PURCHASE AND SALE AGREEMENT (as amended, supplemented or otherwise modified from time to time, this “Agreement”) is
entered into as of August 13, 2012, by and between DIG EH HOTEL LLC, a Delaware limited liability company (“Seller”), and SHR ESSEX HOUSE LLC, a Delaware limited liability company (together with its successors and assigns,
“Purchaser”). 
 1. Property Identification. 

1.1 Property Identification. Subject to the terms and provisions hereof, Seller agrees to sell to Purchaser, and Purchaser agrees
to purchase from Seller, subject to the Permitted Exceptions, and subject to the right, title and interest of guests, the Tenants, licensees and concessionaires in and to the Hotel Unit and the Commercial Unit and to all other terms, covenants and
conditions set forth herein, the following: 
 (a) All right, title and interest in and to the condominium unit
described as the “Hotel Unit” on Exhibit 1.1(a) attached hereto in the building commonly known as the Jumeirah Essex House together with the aggregate undivided interest allocable to such condominium unit in (i) that certain
parcel of land having a street address of 160 Central Park South, New York, New York (the “Land”), (ii) all privileges, rights, easements and appurtenances belonging to the Land, (iii) all streets, alleys, passages, and
other rights-of-way or appurtenances included in, adjacent to or used in connection with the Land and (iv) all mineral and development rights appurtenant to the Land; together with all privileges, rights, easements and appurtenances belonging
to such condominium units (collectively, the “Hotel Unit”). 
 (b) All right, title and interest
in and to the condominium unit described as the “Commercial Unit” on Exhibit 1.1(b) attached hereto in the building commonly known as the Jumeirah Essex House together with the aggregate undivided interest allocable to such
condominium unit in (i) the Land, (ii) all privileges, rights, easements and appurtenances belonging to the Land, (iii) all streets, alleys, passages, and other rights-of-way or appurtenances included in, adjacent to or used in
connection with the Land and (iv) all mineral and development rights appurtenant to the Land; together with all privileges, rights, easements and appurtenances belonging to such condominium units (collectively, the “Commercial
Unit”; the Hotel Unit and the Commercial Unit, collectively, the “Hotel-Related Units”). 
 (c) All right, title and interest in and to the condominium units described as Units 2001, 1720, 1826, 1910, 1912, 1915, 26TR, 3005 and 3214 on Exhibit 1.1(c) attached hereto, and each other
condominium unit which Purchaser agrees to acquire in accordance with Section 4.4, in the building commonly known as the Jumeirah Essex House together with the aggregate undivided interest allocable to such condominium units in (i) the
Land, (ii) all privileges, rights, easements and appurtenances belonging to the Land, (iii) all streets, alleys, passages, and other rights-of-way or appurtenances included in, adjacent to or used in connection with the Land and
(iv) all mineral and development rights appurtenant to the Land; together with all privileges, rights, easements and appurtenances belonging to such condominium units (collectively, the “Residential Units”; the Hotel Unit, the
Commercial Unit and the Residential Units, collectively, the “Condominium Units”). 
 (d) All
right, title and interests in and to the buildings, structures, fixtures and other improvements situated upon or being part of the Condominium Units (collectively, the “Improvements”). 

(e) All furniture, equipment, machinery, inventories, supplies, signs and other tangible personal property of every kind
and nature, if any, owned by Seller whether located at the Real Property or off-site (collectively, the “Personal Property”). 
 (f) All of Seller’s right, title and interest, if any, in (i) all warranties, guaranties and indemnities by and claims against third parties relating to the Real Property and Personal Property,
if any, to the extent assignable or transferable, (ii) all licenses, permits, approvals, development rights, certificates, variances, consents, authorizations and similar documents necessary for the current use, occupancy and operation of the
Real Property, to the extent assignable or transferable (the items referred to in clause (ii)
  

 
herein collectively, the “Permits”), (iii) all plans, specifications, drawings (including CAD drawings and plans), surveys, engineering and other design products, soils
(including borings) tests and reports, project budgets and schedules, and other technical descriptions and documents relating to the Real Property, if any, to the extent assignable or transferable, (iv) any unpaid award for taking by
condemnation or any damage to the Real Property and (v) all software and other computer programs, data and databases, training materials and related source codes and documentation, if any, to the extent assignable or transferable, and all other
intangible assets of any nature relating to the Real Property to the extent assignable or transferable (the items referred to in clauses (i) through (v) of this Section 1.1(e), collectively, the “Intangible
Property”). 
 (g) All of Seller’s rights, if any, in the maintenance, repair, utility, service,
club access, parking, supply and equipment rental contracts listed on Exhibit 6.1(l) affecting the Real Property and presently used for the operation of the Hotel-Related Units (collectively, the “Property Contracts”), to the
extent assignable or transferable. 
 (h) Solely with respect to the Hotel-Related Units, Seller’s rights,
if any, in any and all books, records, files, guest registers, rental and reservation records, employment records, maintenance records, websites, domain names, telephone numbers, and any customer or frequent guest list of the Property maintained by
Seller (including any e-mail or other electronic data) used in connection with the ownership, use, operation, or maintenance of the Hotel-Related Units (collectively, the “Hotel Unit IP, Books and Records”). 

(i) (x) All right, title and interest in and to the “Essex House” trademark, and any and all other tradenames,
service marks, copyrights, domain names, menu and design features associated therewith, and (y) all of Seller’s rights, title and interest, in or to the trademarks, tradenames, service marks, copyrights or domain names, menus and design
features relating to the Condominium Units and services thereat, together with all applications and rights, if any, to apply for the protection of any of the foregoing, to the extent assignable or transferable ((x) and (y), collectively, the
“Intellectual Property”). 
 (j) The advance reservations and Bookings for the Hotel-Related
Units, as the same may be amended, canceled and renewed (the “Reservations”) and, except to the extent a proration credit is received by Purchaser, advance deposits made in respect thereof (the “Reservation
Deposits”). 
 (k) Seller’s rights in and to that certain (i) Lease of Commercial Premises,
dated June 1, 2012, between Seller, as lessor, and Danielli Fine Jewelry, as lessee (the “Jewelry Tenant”) (together with all amendments, modifications, supplements, extensions and related agreements, if any, thereto, the
“Jewelry Lease”), and (ii) lease (the “Gift Shop Lease”; the Jewelry Lease and the Gift Shop Lease, collectively , the “Leases” and individually a “Lease”) to Abeer Corporation
(the “Gift Shop Tenant”; the Jewelry Tenant and the Gift Shop Tenant, collectively , the “Tenants” and individually a “Tenant”), as well as all of Seller’s rights to the security deposit under
the Leases (collectively, the “Tenant Deposits” and individual a “Tenant Deposit”). 
 The
Condominium Units, together with the Improvements relating thereto, are referred to herein as the “Real Property”. The Real Property, together with the Personal Property, the Intangible Property, the Property Contracts, the Hotel
Unit IP, Books and Records, the Intellectual Property, the Reservations, the Reservation Deposits relating thereto, the Leases and the Tenant Deposits, are referred to herein collectively as the “Property”. 

1.2 Excluded Property. Notwithstanding the foregoing or anything to the contrary herein, the following (collectively,
“Excluded Property”) are expressly excluded from the definition of Property (and each of the defined terms that make up the definition of Property) under this Agreement: (a) all tangible and intangible personal property owned
by or leased by Tenants, concessionaires, or licensees at the Property, owned by guests at the Property, or owned by employees of Seller, (b) other than insurance proceeds or rights which may be assigned or credited to Purchaser under
Section 5.1, all insurance policies relating to the Property, including, without limitation, general liability, operational liability (including hotel and innkeepers’ liability and liquor liability), business interruption, fire and
casualty policies, and all proceeds and claims thereunder (collectively, the “Insurance Policies”), subject to the terms of the Interim Jumeirah Agreement, if applicable, (c) any asset management services

  
 2 

 
provided for the benefit of Seller or the Property by any Affiliate of Seller or by Silverpeak Real Estate Partners, (d) any refunds of real estate taxes to the extent attributable to the
period prior to the Closing Date, (e) the “Jumeirah Excluded Personalty” listed on Exhibit 1.2(e) hereto which is owned by Jumeirah Hospitality & Leisure (USA) Inc. (“Hotel Manager”) or its Affiliates,
and, (f) any building signage containing the word “Jumeirah”, subject to the terms of the Interim Jumeirah Agreement, if applicable. Seller shall remove from the Property all Excluded Property prior to Closing at Seller’s sole
cost and expense and in accordance with all applicable legal and insurance requirements and shall promptly repair any damage caused by such removal. 
 2. Purchase Price. The aggregate purchase price for the Property (the “Purchase Price”) is Three Hundred Sixty-Two Million Three Hundred Fifteen Thousand and No/100 Dollars
($362,315,000.00), subject to adjustment as provided herein. 
 (a) The Purchase Price shall be paid by Purchaser
as follows: 
 (i) Upon the execution of this Agreement by Purchaser and Seller, Purchaser shall deliver to First
American Title Insurance Company (in such capacity, the “Escrow Agent”) Ten Million and No/100 Dollars ($10,000,000.00) (the “Deposit”) in immediately available funds by a wire transfer to the Escrow Account; and

 (ii) The Deposit shall be held by Escrow Agent in a segregated interest-bearing account (of the type required
pursuant to Section 13(h)) with a commercial bank reasonably approved by Seller and Purchaser (the “Escrow Account”). In the event that the Closing does not occur by the Closing Date, interest on the Deposit shall be paid to
the party entitled to receive the Deposit in accordance with the terms of this Agreement. In the event that the Closing does occur, interest on the Deposit shall be paid to Seller and credited against the Purchase Price payable by Purchaser. Any
taxes due on such interest income shall be the sole responsibility of the party receiving such interest. Each of Purchaser and Seller will provide to Escrow Agent a Form W-9 for the reporting of any such interest income. 

(iii) At the Closing, Purchaser shall deposit with Escrow Agent, by wire transfer of immediately available funds (made in
accordance with the wiring instructions set forth on Exhibit 2.1(b)(i) attached hereto), the Balance of the Purchase Price plus the amount of any sales tax for which Purchaser is liable under Section 8.4. “Balance of the Purchase
Price” means the amount equal to the Purchase Price, as adjusted for the prorations provided for in this Agreement, minus the Deposit and any interest accrued thereon. 

(iv) The Purchase Price shall be paid without any deduction for withholding tax, provided Seller delivers the documents
listed in Sections 8.2(i) and 8.2(p). 
 (b) Allocation of Purchase Price. 

(i) Within seven (7) days after the date hereof, Purchaser shall provide Seller with a proposed allocation (the
“Allocation”) of the consideration paid for the Property among the acquired assets for federal income tax purposes. Seller shall have seven (7) days after receiving the proposed Allocation from Purchaser to accept such
Allocation or provide a written explanation of the reasons for Seller’s disagreement with such proposed Allocation (“Seller’s Letter”). Upon Purchaser’s receipt of Seller’s Letter, Seller and Purchaser shall use
their commercially reasonable efforts to resolve their disagreements regarding the Allocation. If Seller and Purchaser are unable to resolve their disagreements within ten (10) days after Purchaser’s receipt of Seller’s Letter, then
each party shall, upon notice to the other, be entitled to utilize its own proposed allocation. Seller and Purchaser shall also agree upon a revised Allocation (the “Revised Allocation”) reflecting any adjustments to the
consideration for the Property occurring after the determination of the Allocation, using the same procedures set forth in this section for determining the Allocation, or, if no such agreement is reached, each party shall be entitiled to utilize its
proposed allocation. 

  
 3 

 (ii) If the Allocations are agreed upon between Seller and Purchaser, then
(I) Seller, Purchaser and each of their Affiliates shall (x) be bound by the Allocation or Revised Allocation, as applicable, for all relevant tax purposes, (y) prepare and file all tax returns in a manner consistent with such
allocation and (z) take no position inconsistent with such allocation in any tax return or any related proceeding before any taxing authority, and (II) in the event that the allocation reported to a taxing authority by either party or any of
their Affiliates is disputed by such taxing authority, the party receiving notice of such dispute shall promptly notify the other party and keep the other party apprised of material developments concerning resolution of such dispute. 

(iii) Either party hereto may report this transaction as a sale of a trade or business under Section 1060 of the
Internal Revenue Code of 1986 (as amended, supplemented or modified through the Execution Date, the “Code”) by filing Internal Revenue Code Form 8594 so long as prior to making such filing such party has noticed the other party
hereto in writing. 
 3. Title and Survey Matters. 

3.1 Update of Title. Prior to the date hereof (the “Execution Date”), Seller has provided Purchaser with a copy of
the existing survey (the “Existing Survey”) of the Real Property and the existing title insurance policy for the Real Property (the “Existing Title Policy”). Purchaser, at its sole cost and expense, will obtain a
title report for the Property and a pro forma owner’s policy of title insurance for the Property, including, without limitation, copies of all documents referenced therein (the “Title Commitment”), in the amount of the Purchase
Price, issued by First American Title Insurance Company (“FATCO”), as the lead title insurer on behalf of itself and the syndicate determined by Purchaser in its sole discretion (provided that Purchaser agrees to include in the
syndicate at least $100,000,000 of coverage to Stewart Title Insurance Company by and through Kensington Vanguard National Land Services) (FATCO, in such capacity, the “Title Company”). The cost of ordering the Title Commitment and
obtaining a Title Policy or any endorsements thereto shall be borne entirely by Purchaser (subject, however, to the provisions of Section 10.3). 
 3.2 Approval of Title and Existing Survey. 
 (a) As used
herein, the term “Permitted Exceptions” with regard to the Real Property means: (i) all exceptions, exclusions and other matters shown in the Existing Title Policy, excluding any exceptions related to a Seller Encumbrance;
(ii) all exceptions, exclusions and other matters shown on Schedule B-2 of the Title Commitment, other than matters constituting Seller Encumbrances; (iii) any exceptions, exclusions and other matters waived in writing by Purchaser or
deemed waived by Purchaser in accordance with the terms hereof; (iv) all title matters reflecting the existence or terms of the Leases; (v) liens for real estate taxes that are not yet due and payable and that are apportioned as provided
in Section 8.4, including, without limitation, special assessments and special improvement district or local improvement district bonds; (vi) any and all present and future laws, ordinances, restrictions, requirements, resolutions, orders,
rules and regulations of any governmental authority, as now or hereafter existing or enforced (including, without limitation, those related to zoning and land use), and all notes or notices of violation of any such laws, ordinances, rules or
regulations to the extent same are set forth in the Departmental Searches or in the Title Commitment or in any title reports, commitments or updates delivered to Purchaser prior to the Execution Date; (vii) any judgment or mechanics’ or
suppliers’ liens that are the obligation of a Tenant to discharge pursuant to the provisions of any Lease; (viii) such other exceptions as Title Company shall commit to insure over in a manner reasonably satisfactory to Purchaser, without
any additional cost to Purchaser; (ix) any other matters affecting title to the Property that have been approved or accepted by Purchaser pursuant to the terms hereof and (x) all matters, whether or not of record, to the extent caused by
Purchaser or its agents, representatives or contractors. As used herein, the term “Seller Encumbrance” shall mean (1) any mortgage or deed of trust (and related ancillary security instruments) or other monetary lien voluntarily
granted or expressly assumed by Seller and encumbering the Property (but not any liens that are the obligation of any Tenant under any Lease to discharge), (2) any documents relating to the Hotel Management Agreement (including, without
limitation, any recorded non-disturbance agreement or memorandum of the Hotel Management Agreement) or (3) any and all judgments or mechanics’ or suppliers’ or tax liens encumbering the Property or any lis pendens. In any
event, Seller 

  
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Encumbrances must be satisfied, discharged or removed by Seller (or, as to any tax lien or lis pendens, bonded or otherwise removed as a lien on the Property) on or prior to the Closing
Date or, if not so satisfied, bonded or removed prior to or on Closing, shall be satisfied at Closing out of the proceeds otherwise payable to Seller. For the avoidance of doubt, any Seller Encumbrances relating to the Hotel Management Agreement
(including, without limitation, any recorded non-disturbance agreement or memorandum of the Hotel Management Agreement) must be satisfied, discharged or removed by Seller at or prior to Closing notwithstanding the execution by Purchaser and Hotel
Manager of the Interim Jumeriah Agreement, if applicable. 
 (b) If Seller involuntarily suffers title to the
Real Property to become encumbered by any matter (including, without limitation, an attachment or any other defect, objection or exception or issue raised by any update of the Existing Survey) other than a Permitted Exception, and Seller does not
remove or cure any such matter on or prior to the Closing Date to the reasonable satisfaction of Purchaser, then Purchaser shall have the option, exercisable by written notice delivered to Seller, of either (y) waiving any such defects,
objections or exception and accepting title to the Property subject to such matter(s), in which event Purchaser shall proceed to Closing or (z) terminating this Agreement, in which event the Deposit will immediately be returned to Purchaser,
and thereupon Purchaser and Seller will have no further obligations or liabilities under this Agreement, except as otherwise stated herein; provided, however, that (i) the foregoing shall not apply to Seller Encumbrances, which shall be
governed by Section 3.2(a), and (ii) Seller shall nonetheless use commercially reasonable efforts to remove any title matters covered by this Section 3.2(b). 
 3.3 Title Insurance. It shall be a condition to Purchaser’s obligations hereunder that Title Company shall have issued or shall have committed to issue, upon payment of the applicable premium
therefor, a 2006 ALTA Extended Coverage Owner’s Policy of Title Insurance (the “Title Policy”) with the standard form New York endorsements for purchase of condominium units and waiver of arbitration, in the amount equal to the
Purchase Price for the Real Property (with separate policies being issued, at Purchaser’s election, for separate components of the Condominium Units), insuring that title to the Real Property is vested in Purchaser subject only to the Permitted
Exceptions. If Purchaser desires to procure any special coverages or any endorsements (or amendments) to the Title Policy not identified above, it may do so at its own cost and expense, provided that (a) such additional coverages shall
be at no cost or additional liability to Seller other than the provision of such affidavits, agreements or certificates customarily provided by sellers of similar properties in Manhattan, (b) Purchaser’s obligations hereunder shall not be
conditioned upon Purchaser’s ability to obtain such additional coverages, (c) if Purchaser is unable to obtain such additional coverages with respect to the Property, Purchaser shall nevertheless be obligated to proceed to the Closing
without reduction of or set off against the Purchase Price and (d) the Closing shall not be delayed as a result of Purchaser’s efforts to obtain such additional coverages. 

4. Inspection; Covenants. 
 4.1 Access. 
 (a) Subject to the following sentence,
Purchaser and its Affiliates, agents, contractors, or representatives shall have (collectively, the “Purchaser Access Parties” and, individually, a “Purchaser Access Party”) shall have, and Seller shall provide,
physical access to the Real Property for purposes of (i) inspection, investigation and/or testing of the Real Property, (ii) interviewing any Bargaining Unit Employees or a Non-Bargaining Unit Employees pursuant to Section 11.1
hereof, and (iii) review of such materials and information relating to the Real Property (excluding projections and analyses relating to the operation of the Real Property) which are located at the Real Property and not reasonably able to be
posted to the data site maintained by Broker (the “Data Site”), in each case as Purchaser deems necessary or appropriate, but subject to Seller’s right to redact any such materials or information to the extent reasonably
necessary in order to preserve the confidentiality of information not relating to the Real Property (provided a general description of the redacted information sufficient to confirm that it does not relate to the Real Property is provided to
Purchaser). No Purchaser Access Party shall conduct any such inspection, investigation, testing or review in a manner that will unreasonably interfere with the use or operation of the Real Property by any occupant or guest thereof. If any Purchaser
Access Party desires access to the Real Property for purposes of inspection, investigation, testing and/or review, Purchaser shall 

  
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provide Seller with reasonable prior notice thereof, which notice shall include the date and time of such proposed access, the scope of such access (including any invasive testing proposed to be
done), and the anticipated duration of such access. Any inspection, investigation, testing and/or review shall be at Purchaser’s sole cost and expense and Purchaser shall not conduct any invasive testing or phase II environmental surveys
without Seller’s prior written consent. Purchaser shall promptly restore, at Purchaser’s sole cost and expense, any physical damage to the Property caused by any such inspection, investigation, testing and/or review of the Real Property.

 (i) Purchaser agrees to indemnify, defend, and hold Seller, Hotel Manager and their respective Affiliates
harmless from any loss, injury, damage, claim, lien, cost or expense, including, without limitation, reasonable attorneys’ fees and costs (collectively, “Losses”), arising out of or in connection with the exercise or
performance by the Purchaser Access Parties during the term of this Agreement of any of their respective rights or obligations under Section 4.1(a). In no event shall Purchaser be liable hereunder for Losses (1) to the extent
arising from the negligence or willful misconduct of Seller or its Affiliates, agents, contractors, representatives or employees, (2) resulting from Seller’s or Hotel Manager’s compliance (or non-compliance) with Environmental
Requirements or any remedy of Hazardous Materials or any environmental condition resulting from such compliance (or non-compliance) or (3) resulting from the discovery or observation of pre-existing environmental or physical conditions at the
Real Property or any impact of the use of the Real Property or the value of the Real Property from or as result of such discovery or observation. For purposes of this Agreement, (A) “Environmental Requirements” means all laws,
ordinances, statutes, codes, rules, regulations, agreements, judgments, orders and decrees now or hereafter enacted, promulgated, or amended, of the United States, the states, the counties, the cities or any other political subdivisions in which the
Real Property is located and any other political subdivision, agency or instrumentality exercising jurisdiction over Seller, the Real Property or the use of the Real Property relating to pollution, the protection or regulation of human health,
natural resources or the environment, or the emission, discharge, release or threatened release of pollutants, contaminants, chemicals or industrial, toxic or hazardous substances or waste or Hazardous Materials into the environment (including,
without limitation, ambient air, surface water, ground water or land or soil) and (B) “Hazardous Materials” means any substance which is or contains: (1) any “hazardous substance” as now or hereafter defined in
Section 101(14) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended (42 U.S.C. Section 9601 et seq.), or any regulations promulgated thereunder; (2) any “hazardous
waste” as now or hereafter defined in the Recourse Conservation and Recovery Act (42 U.S.C. Section 6901 et seq.) or regulations promulgated thereunder; (3) any substance regulated by the Toxic Substances Control Act
(15 U.S.C. Section 2601 et. seq.); (4) gasoline, diesel fuel or other petroleum hydrocarbons; (5) asbestos and asbestos containing materials, in any form, whether friable or nonfriable; (6) polychlorinated biphenyls;
(7) radon gas, (8) lead paint and urea formaldehyde insulation and (9) any additional substances or materials which are now or hereafter classified or considered to be hazardous or toxic under Environmental Requirements or the common
law, or any other applicable law related to the Real Property; and Hazardous Materials shall include, without limitation, any substance, the presence of which on the Real Property: (A) requires reporting, investigation or remediation under
Environmental Requirements; (B) causes or threatens to cause a nuisance on the Real Property or adjacent property, or poses or threatens to pose a hazard to health or safety of persons on the Real Property or adjacent property or
(C) which, if emanated or migrated from the Real Property, could constitute a trespass. The terms and conditions of this Section 4.1(a)(i) shall survive the Closing or any termination of this Agreement. 

(ii) Prior to any entry on the Real Property by any Purchaser Access Party, Purchaser shall cause the activities of such
Purchaser Access Party on and about the Real Property to be covered by comprehensive general liability insurance for Purchaser and each of the other Purchaser Access Parties entering onto the Real Property insuring all activity and conduct of each
Purchaser Access Party while exercising such right of access. Such insurance shall have limits of not less than $2,000,000.00 per occurrence for bodily injury to any one person and property damage, and $4,000,000.00 in the aggregate. Seller and
Hotel Manager shall be named as 

  
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additional insureds on all policies and such policies shall be considered primary insurance without recourse to or contribution from any similar insurance carried by Seller. Purchaser shall
deliver to Seller a certificate evidencing the existence of the foregoing insurance coverage prior to any entry on the Real Property by any Purchaser Access Party, and Purchaser shall keep such insurance in effect for at least one (1) year
following the last date that any Purchaser Access Party enters the Real Property prior to the Closing Date. All insurance certificates shall contain the standard ACORD provision concerning cancellation or material change of the coverage afforded
under the policies evidenced by such certificates. All liability insurance required to be carried by Purchaser shall contain broad form contractual liability insurance coverage insuring Purchaser’s insurable indemnity obligations to Seller as
provided for in Section 4.1(a)(i). 
 (iii) Notwithstanding the termination of this Agreement,
(1) the obligation to restore the Real Property contained in Section 4.1(a) shall survive such termination indefinitely, (2) the obligations of Purchaser contained in the third-to-last sentence of Section 4.1(a)(ii)
shall survive for the one-year period referred to therein and (3) the indemnity contained in Section 4.1(a)(i) shall survive such termination for a period of one hundred eighty (180) days, it being agreed that any claim for
indemnification submitted to Purchaser in writing prior to the expiration of such one hundred eighty (180) day period shall not be precluded by the foregoing of this clause (3) if actual suit is then brought within ninety (90) days of
such claim notice. 
 (iv) Section 7, and the modifications to the Confidentiality Agreement set forth in
Section 5, of that certain Access and Exclusivity Agreement, dated as of July 31, 2012, between Seller and Purchaser (the “Access and Exclusivity Agreement”) are hereby incorporated into this Agreement as if fully set
forth herein and the Access and Exclusivity Agreement is hereby superseded by the terms and conditions of this Agreement. 
 (b) Seller has, prior to the date hereof and subject to the terms and conditions of the Confidentiality Agreement effective as of March 30, 2012 (as modified by the terms of the Access and
Exclusivity Agreement, the “Confidentiality Agreement”), provided to Purchaser by way of posting to the Data Site maintained by Jones Lang LaSalle Hotels (“Broker”), or by way of making such items available for
review at the Real Property or offices of the Board, certain due diligence items. Additionally, Seller and Purchaser have entered into an Inspection Agreement of even date herewith (the “Inspection Agreement”) pursuant to which
Seller has disclosed to Purchaser certain facts regarding the Property. All due diligence items provided to Purchaser or disclosed in the Inspection Agreement are referred to collectively as the “Inspection Records”. Purchaser
acknowledges and agrees that Seller may redact the Inspection Records to the extent reasonably necessary in order to preserve the confidentiality of information not relating to the Property (but with a general description of the redacted information
sufficient to confirm that it does not relate to the Property). If additional Inspection Records are requested, they may be examined at all reasonable times during normal business hours upon prior reasonable notice to Seller and may be photocopied
by Purchaser at Purchaser’s sole cost and expense. Except as otherwise provided in this Agreement or in any other document contemplated by Section 8.2, Seller does not make any representations or warranties as to the content or accuracy of
any Inspection Records. 
 (c) In the event the Closing does not occur for any reason, Purchaser shall handle the
Inspection Records in accordance with the terms of the Confidentiality Agreement, which shall be deemed to continue for a period of three hundred sixty-five (365) days notwithstanding anything to the contrary contained therein. 

4.2 Liquor License. Seller and Purchaser shall reasonably cooperate in obtaining the transfer of the existing liquor license (or
liquor licenses) or the issuance of a new liquor license(s) (such transferred or new liquor licenses, the “Liquor License”) for the Hotel-Related Units. If necessary, at or prior to Closing, or at or prior to the expiration of the
Interim Jumeriah Agreement if Purchaser enters into the Interim Jumeirah Agreement, Seller and Purchaser shall execute and deliver to one another an Interim Agreement (the “Interim Agreement”) pursuant to which the Manager (as
defined therein) shall continue to operate all liquor related operations in the Hotel-Related Units until the date on which Purchaser, its management company or other designee, receives a Liquor License for the Hotel-Related Units. Such Interim
Agreement shall, among other things, provide that all expenses and liabilities 
  

  
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associated with liquor related operations in the Hotel-Related Units shall be borne solely by Purchaser, Purchaser shall carry “dram shop” and other customary insurance reasonably
acceptable to Seller and such Manager, and Purchaser shall indemnify Seller and such Manager for any and all losses, costs, expenses, claims, demands, and other liabilities arising from Purchaser’s or its designee’s liquor related
operations in the Hotel-Related Units. Promptly following the Closing, Purchaser shall or shall cause Purchaser’s operator to file an application with the New York State Liquor Authority (the “SLA”) for the transfer of, or
issuance of a new Liquor License for the Hotel-Related Units. Seller shall reasonably cooperate, with all out of pocket costs incurred by Seller reimbursed promptly by Purchaser, with Purchaser’s efforts to obtain such transfer of, or issuance
of a new, Liquor License for the Hotel-Related Units (including, without limitation, by executing all documents required by the SLA or by any other governmental authority in connection therewith). Seller’s obligations under this
Section 4.2 shall survive the Closing. 
 4.3 Activities Prior to Closing. 

(a) (i) Seller shall not, from and after the Execution Date, enter into amendments, modifications, extensions, renewals or
terminations of any existing Property Contracts, agreements related to Bookings, the Leases or the Union Contract (except for Property Contracts which may be entered into to the extent set forth in clause (ii) below, modifications to existing
Bookings so long as such Bookings remain at market rates and terms and cancellations of Bookings at any guest’s request) or enter into any new lease or contract (other than reservations for the use of any guest rooms that are in the ordinary
course of business and at market rates and terms, and including any commitments or reservations for the use of any meeting rooms, banquet facilities, convention facilities or other facilities in the Hotel-Related Units in the ordinary course of
business and on market rates and terms; reservations for the use of any guest rooms and commitments or reservations for the use of any meeting rooms, banquet facilities, convention facilities or other facilities in the Hotel-Related Units, together
with the rent and/or other considerations, if any, owed by guests, tenants, licensees or concessionaires for such use, the “Bookings”), in each case that would affect the Property after the Closing Date. 

(ii) Purchaser agrees to assume the Property Contracts, subject to the provisions set forth herein. Purchaser shall
notify Seller at least ten (10) Business Days prior Closing as to which Property Contracts Purchaser wishes Seller (or Hotel Manager on behalf of Seller) to terminate in accordance with their terms (each such contracts, a “Terminable
Contract”). Seller agrees that Purchaser shall have the right to terminate (or request the termination of) any Property Contract even if Purchaser elects to retain Hotel Manager pursuant to the Interim Jumeirah Agreement. Notwithstanding
anything to the contrary contained herein, Seller shall have no liability to Purchaser for the refusal by any counterparty under a Property Contract to consent to the assignment of such Property Contract to Seller, and in such event, any such
Property Contract (for which such counterparty’s consent is required by the terms of such Property Contract and not given) and any liabilities thereunder shall not be assumed by Purchaser. Seller may enter into any Property Contract (new and
amendments) after the date hereof (x) in the ordinary course of business and provided such Property Contract is terminable without penalty or payment of a fee on no more than thirty (30) days’ notice or (y) with the prior written
consent of Purchaser in accordance with Section 4.3(c). 
 (b) At all times prior to the Closing, Seller
shall continue to (i) operate the Hotel-Related Units in a prudent manner, substantially consistent with past practice using its reasonable efforts to preserve intact the goodwill of the Hotel-Related Units with its existing clientele, subject
to Seller’s obligations under Section 4.3(i), (ii) maintain the Property in its existing condition and state of repair, ordinary wear and tear excepted, subject to the occurrence of any casualty and condemnation, (iii) replenish
and maintain Personal Property and any other consumables, inventory, operating supplies and equipment necessary to operate the Hotel-Related Units in a manner consistent with past practices and maintain substantially the same levels of consumables,
operating supplies, inventory and furniture, fixtures and equipment as in existence at the Property on the Execution Date; provided Seller shall have no obligation to replenish branded materials, and (iv) maintain insurance with respect to the
Hotel-Related Units with the coverages as set forth in the existing insurance policies covering the Hotel-Related Units, provided, however, that a breach of this clause (iv) shall have no consequence unless a casualty occurs prior to
Closing or the earlier termination of this Agreement. 

  
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 (c) When Purchaser’s consent is required pursuant to
Section 4.3(a) or Section 4.3(g), Purchaser shall have ten (10) Business Days after receipt from Seller of a written request for consent to proposed Property Contracts (new and amendments) within which to grant or withhold consent,
which consent may be given or withheld in Purchaser’s sole and absolute discretion. If Purchaser fails or refuses to act within such ten (10) Business Day period, Purchaser shall be deemed to have withheld its consent; provided, that
Purchaser shall be deemed to have granted such consent after failing or refusing to act within such ten (10) Business Day period if such new or amended Property Contract is terminable without charge or penalty upon sale or on thirty
(30) days’ or less notice. 
 (d) Seller shall not sell, mortgage, pledge, hypothecate, or otherwise
transfer or dispose of all or any part of the Property or any interest therein at any time after the date hereof and prior to the Closing Date, other than (i) with respect to replacement of depleted Personal Property and the expiration of
Property Contracts in the ordinary course of business or upon termination in accordance with the terms of this Agreement, (ii) reservations of transient guests of the Hotel-Related Units in the Premises in accordance with the provisions of this
Agreement, (iii) Permitted Exceptions and (iv) the maintenance of the liens or assignments as required by any existing mortgage and mezzanine financing with respect to the Property which exist on the Execution Date (and all of which shall
be terminated as of the Closing unless Purchaser has elected to have Seller’s lender(s) assign such liens or assignments to Purchaser’s lender or lenders pursuant to Section 4.3(j) below). 

(e) Except for (i) emergency repairs and replacements, and (ii) capital expenditures permitted hereunder to
restore the Property after a casualty or condemnation, Seller shall not commit to, make or pay for any capital expenditure, without the written consent of Purchaser. All such work shall be undertaken in a first-class workmanlike manner, lien-free
and in accordance with all applicable legal requirements and insurance requirements. 
 (f) During the period
prior to Closing and for the six (6) month period after Closing, the parties agree to reasonably cooperate and also to consult on a regular basis and coordinate their activities, including, without limitation, those relating to employee
matters, Bookings and Reservations, and changing the branding of the Condominium Units so as to facilitate a smooth transition of the operations of the Condominium Units and the continued proper performance by the employees of the Condominium Units
of their respective duties up to Closing. To the extent Purchaser requests that any executive or managerial-level employees of the Hotel Manager remain at the Property to assist with the transition during the twenty-four (24) hour periods
immediately prior to and immediately following the Cut-Off Time, Purchaser shall arrange for each such employee to be lodged in the Hotel-Related Units on a complimentary basis with complimentary food and beverage (excluding alcoholic beverages) and
laundry services. Seller shall reasonably cooperate with Purchaser to effectuate the transfer of all Intangible Property, Hotel Unit IP, Books and Records and such other data with respect to past, present and future guests of the Hotel-Related Units
in the possession of Seller or any of Seller’s Affiliates as may be reasonably necessary in order to permit Purchaser to honor Bookings and Reservations in place as of the Closing with respect to the period from and after Closing. In addition,
Seller shall use commercially reasonable efforts to maintain all Bookings and Reservations and shall not affirmatively relocate any Bookings or Reservations in effect from time to time with respect to the period from and after the Closing Date to
any other hotels owned or operated by Seller or any of Seller’s Affiliates. 
 (g) Seller shall not
(i) vote for any material increase in any common charges in respect of the Essex House Condominium, (ii) agree to amend any Condominium Documents, (iii) call a meeting of unit owners or (iv) otherwise take any action with respect
to the operation of the Essex House Condominium which is reasonably likely to result in a Material Adverse Effect, in each case without Purchaser’s consent in accordance with Section 4.3(c); provided, however, no such consent shall be
required to take any action imposed by applicable law or that is necessary to provide or maintain essential operations at the Property. Seller shall (A) exercise all rights and comply with all obligations under the Condominium Declaration in
substantially the same manner as it generally did prior to the date hereof; (B) forward copies of all correspondence, email and other documents received by any governmental agency including, but not limited to, the Office of the Attorney
General of the State of New York (the “OAG”); and (C) make available to Purchaser at the Condominium Board’s office all minutes of Condominium Board meetings held after the execution of this Agreement provided Purchaser
shall have no right to copy or retain such minutes. 

  
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 (h) Seller shall expeditiously, after the mutual execution and delivery of
this Agreement, and at Seller’s sole cost and expense, request a “no-action letter” from the OAG stating that the OAG shall take no action and not require the filing of an offering plan or an amendment to the 2006 Plan, with respect
to the transactions contemplated herein (the “No-Action Application”). In connection with Seller’s No-Action Application, Purchaser shall execute and deliver an “Affidavit of Offeree,” substantially in the form
annexed hereto as Exhibit 4.3(h)(1) and Seller shall execute and deliver an “Affidavit of Offeror,” substantially in the form annexed hereto as Exhibit 4.3(h)(2). Seller shall simultaneously with its submission of its
No-Action Application to the OAG deliver a copy of such No-Action Application (together with all attachments thereto and related documents) to Purchaser or its representatives. Seller and Purchaser hereby agree to cooperate with each other and each
party’s respective counsel to provide additional information and execute any additional documents in connection with the No-Action Application if required by the OAG. Purchaser shall promptly, upon Seller’s request and to the extent
reasonably necessary, review and join in any application, submission or other form or documentation reasonably required. The parties hereto acknowledge and agree that prior to the Closing, Seller does not intend to file an amendment with the OAG
extending the term of the 2006 Plan (as hereinafter defined). 
 (i) Seller shall cause Hotel Manager to stop
(i) accepting Bookings and Reservations under the Hotel Manager’s awards programs from and after the Execution Date, and (ii) issuing vouchers, certificates, or other forms of script for free or discounted hotel rooms or food and
beverage at the Hotel-Related Units from and after the Execution Date. 
 (j) (i) Not later than ten
(10) Business Days prior to the Closing Date (with evidence thereof concurrently being provided to Purchaser), Seller shall deliver to the lender under the existing mortgage loan encumbering the Property (the “Existing Lender”)
a written request, in the form attached hereto as Exhibit 4.3(j), asking the Existing Lender to assign the existing mortgage or mortgages (or to sever the same and deliver documentation of a portion thereof) (a “Mortgage
Assignment”) to one or more Persons designated by Purchaser (a “Purchaser’s Lender Designee”) provided that Seller’s obligation under this Section 4.3(j)(i) shall be limited to: (A) depositing with a
reputable overnight courier such written request, (B) subsequently designating to the Existing Lender the Purchaser’s Lender Designee, and (C) at Closing, satisfying all outstanding indebtedness secured by such mortgage or mortgages
and any mezzanine debt reflected in such mortgage or mortgages in accordance with the provisions of such mortgage or mortgages providing for such assignment. 
 (ii) Purchaser’s counsel, at the sole cost and expense of Purchaser, shall prepare the documentation for such assignment, except to the extent that the Existing Lender requires that its counsel
prepare such documentation (in which event Purchaser shall reimburse such Existing Lender upon request the cost of such preparation) and Purchaser shall be responsible for any expense which the Existing Lender incurs, and seeks to recover from
Seller, arising from the preparation or review of mortgage assignment documentation. 
 (iii) If at or prior to
Closing: (A) Purchaser has paid the reasonable attorneys’ fees of the Existing Lender with respect to the preparation, delivery and performance of such an Mortgage Assignment; (B) Purchaser shall have executed and delivered to the
Existing Lender and/or the Title Company an executed Affidavit under Section 275 of the New York Real Property Law; and (C) a Mortgage Assignment is not then prohibited by any federal, state or local law, rule, regulation, order, or by any
other governmental authority, and the Existing Lender fails to execute and deliver the Mortgage Assignment, Purchaser may withhold from the Balance of the Purchase Price at Closing fifty percent (50%) of the amount of any mortgage recording tax
Purchaser is required to pay as a consequence of such failure by the Existing Lender. Additionally, if Seller elects to pursue a claim against the Existing Lender for failure to deliver the Mortgage Assignment, Purchaser shall pay for (or reimburse
Seller for) fifty percent (50%) of the costs and expenses incurred by Seller in pursuing such claim. 

  
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 4.4 Additional Condominium Units. If any additional condominium unit in the Essex
House Condominium is offered for purchase to Seller or its Affiliates following the Execution Date, Seller shall give prompt written notice to Purchaser indicating, in reasonable detail, the terms and timing of such offer, and Seller’s election
with respect to such offer as provided in the following sentence. Seller shall, at its election, either (i) purchase such condominium unit, in which case Purchaser shall be entitled, at its sole discretion, to acquire such purchased condominium
unit from the Seller at the Seller’s cost (including its closing costs) on the Closing Date, or (ii) assign its rights under such offer to Purchaser and cooperate with Purchaser in the event Purchaser elects, in Purchaser’s sole
discretion, to acquire such offered condominium unit. Seller will receive a credit at Closing for any down payment delivered by Seller in respect of the purchase of such condominium unit which Purchaser elects to purchase. For avoidance of doubt,
Purchaser is under no obligation to purchase any such additional unit. 
 5. Casualty Damage or Condemnation. 

5.1 Casualty. 
 (a) In the event that all or a portion of any Condominium Unit is damaged or destroyed by fire or other casualty prior to the Closing Date such that the reasonably estimated cost to repair the same
exceeds an amount that is equal to $18,000,000, then Purchaser may, at Purchaser’s sole option, elect to either: 
 (i) terminate this Agreement, in which event the Deposit will promptly be returned to Purchaser and thereupon Seller and Purchaser will have no further obligations or liabilities to each other under this
Agreement, except as otherwise provided herein; or 
 (ii) proceed to close the transactions contemplated by this
Agreement. 
 (b) If Purchaser elects to proceed to Closing pursuant to Section 5.1(a)(ii) or if the
reasonably estimated cost to repair the damage or destruction to the Improvements caused by fire or other casualty prior to the Closing Date does not exceed an amount that is equal to $18,000,000, then Purchaser shall purchase the Property in
accordance with the terms hereof except that (y) the Purchase Price shall be reduced by the amount of any applicable insurance deductible with respect to any damage or destruction of the Improvements by fire or other casualty (or such lesser
amount as Purchaser and Seller reasonably agree to be necessary to repair the damage) and (z) Seller shall assign to Purchaser at the Closing all insurance proceeds payable on account of such damage (less Seller’s reasonable cost to secure
the same and less repair costs incurred by Seller with respect to such damage), provided, that the Purchase Price shall be further reduced by the amount of any insurance proceeds previously paid to Seller on account of such damage and not already
expended toward Seller’s reasonable cost of securing the same or restoration of the Improvements. Purchaser shall be deemed to have elected to proceed under Section 5.1(b) unless, within fifteen (15) days from receipt by
Purchaser of written notice of such casualty from Seller accompanied by Seller’s repair estimate and evidence of the insurance coverages maintained by Seller and written confirmation from the insurer of the amount of insurance proceeds which
the insurer has determined is available under the policy in respect of such casualty, Purchaser provides Seller with written notice that Purchaser elects to terminate this Agreement pursuant to Section 5.1(a). 

5.2 Condemnation. In the event that all or a portion of any Condominium Unit is condemned or becomes the subject of condemnation
proceedings prior to the Closing such that either (i) the reasonably estimated loss of value as a result thereof exceeds an amount that is equal to $18,000,000 or (ii) the condemnation in question would cause a Material Adverse Effect,
then Purchaser may elect to: 
 (a) terminate this Agreement, in which event the Deposit will promptly be
returned to Purchaser and thereupon Seller and Purchaser shall have no further obligations or liabilities to each other under this Agreement, except as otherwise provided herein; or 

(b) proceed to close the transactions contemplated by this Agreement. 

  
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 If Purchaser elects to proceed to Closing under Section 5.2(b) or if the
reasonably estimated loss of value as a result of a condemnation or condemnation proceedings affecting all or portion of any Condominium Unit does not exceed an amount that is equal to $18,000,000 or the condemnation in question would not cause a
Material Adverse Effect, then Purchaser shall purchase the Property in accordance with the terms hereof (without reduction in the Purchase Price) and Seller shall assign to Purchaser at the Closing all condemnation proceeds payable and still
outstanding as a result of such condemnation (less Seller’s reasonable cost to secure the same) and the Purchase Price shall be reduced by the amount of any condemnation proceeds previously paid to Seller on account of such condemnation (less
Seller’s reasonable cost to secure the same and less repair costs incurred by Seller with respect to such taking). Purchaser shall be deemed to have elected to proceed under Section 5.2(b) unless, within fifteen (15) days of
receipt by Purchaser of written notice from Seller of the condemnation or condemnation proceedings, Purchaser provides Seller with written notice that Purchaser elects to terminate this Agreement pursuant to Section 5.2(a). 

5.3 NY General Obligations Law Section 5-1311. The provisions of Section 5-1311 of the New York General Obligations Law
shall not be applicable to this Agreement. 
 6. Representations, Warranties and Covenants. 

6.1 Seller’s Representations. Seller makes the following representations and warranties, all of which (except for those
representations and warranties made as of the Execution Date, which shall not be remade as of the Closing) shall be true and correct as of the Closing. If Purchaser has actual knowledge or, pursuant to the next sentence is deemed to have knowledge,
as of the Execution Date, that any of these representations and warranties are inaccurate, untrue or incorrect in any way, Purchaser, to the extent of such actual or deemed knowledge, shall not have (i) any Purchaser Claim against Seller,
Seller’s Affiliates or the other Seller Parties or (ii) the right to terminate this Agreement based on a failure of the condition set forth in Section 7.1(b), in each case, to the extent based on the inaccuracy, untruth or
incorrectness of such representations and warranties. Purchaser shall be “deemed to have knowledge” or have “deemed knowledge” that a representation or warranty is untrue, inaccurate or incorrect if anything in the Inspection
Agreement contains information which is clearly inconsistent with such representation or warranty or otherwise discloses information that clearly demonstrates that such representation or warranty is untrue, inaccurate or incorrect. 

(a) Legal Existence. Seller is a limited liability company duly created, validly existing and in good standing
under the laws of the State of Delaware. 
 (b) Authority. Seller has full right, power and authority and
is duly authorized to enter into this Agreement, to perform each of the covenants and obligations on its part to be performed hereunder and to execute and deliver, and to perform its obligations under all documents required to be executed and
delivered by it pursuant to this Agreement, and this Agreement constitutes the valid and legally binding obligation of Seller enforceable against Seller in accordance with its terms. 

(c) Conflicts. Neither the execution, delivery or performance of this Agreement nor compliance herewith
(a) conflicts or will conflict with, or results or will result in a material breach of or constitutes or will constitute a default under (1) the organizational documents of Seller, (2) in any material respect with any judgment,
statute, law or any order, writ, injunction or decree of any court or governmental authority applicable to Seller or the Property, or (3) in any material respect with any material agreement or instrument to which Seller is a party or by which
it or the Property is bound or (b) results in the creation or imposition of any lien, charge or encumbrance upon its property pursuant to any such agreement or instrument. 

(d) Government Approvals. No authorization, acceptance, consent or approval of any governmental authority
(including courts) is required for the execution and delivery by Seller of this Agreement or the performance of its obligations hereunder. 
 (e) FIRPTA. Seller is not a “foreign person” within the meaning of Section 1445(f)(3) of the Code. 

  
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 (f) Litigation. Except as set forth in the Inspection Agreement,
there are no litigations, actions, suits, arbitrations, formal government investigations or proceedings (including, but not limited to, bankruptcy) pending or, to the knowledge of Seller, threatened against Seller or affecting Seller or the Property
which, if determined adversely to Seller, would be reasonably likely to have, either individually or in the aggregate, a Material Adverse Effect. As used herein, “Material Adverse Effect” means a material adverse effect on the value
of, the title to, or the use or operation of, the Property, provided that the following, individually and in the aggregate, shall be excluded from the definition of Material Adverse Effect: (i) any change, event or effects arising out of or
resulting from changes in or affecting the (x) travel or hospitality generally, (y) travel or hospitality in The City of New York or (z) the financial, banking, currency or capital markets in general, (ii) any change, event or
effect resulting from the entering into or public announcement of the transactions contemplated by this Agreement, and (iii) any change, event or effect resulting from any act of terrorism, commencement or escalation of armed hostilities in the
U.S. or internationally or declaration of war by the U.S, or the consequences of the foregoing. 
 (g)
Violations of Law. Except for (i) violations shown in or disclosed by the departmental searches performed by the Title Company and delivered prior to the Execution Date (“Departmental Searches”), (ii) violations
disclosed in a formal governmental notice which is included in the Inspection Agreement, and (iii) provided the same do not result in a Material Adverse Effect, violations disclosed or learned of after the date hereof, Seller has not received
any written notice from any governmental or public authority that (x) the Property is in violation of any applicable fire, health, building, use, occupancy, environmental or zoning laws, codes or regulations where such violation remains
outstanding and, if unaddressed, would be reasonably likely to, individually or in the aggregate, have a Material Adverse Effect, (y) any work is required to be done upon or in connection with the Property, where such work remains outstanding
and, if unaddressed, would be reasonably likely to have a Material Adverse Effect or (z) the Property is in material violation of any zoning, land use, landmark, signage, façade or similar laws, regulations or orders. 

(h) Condemnation. As of the Execution Date, Seller has not received any written notice from any governmental or
public authority of any, and to the Seller’s knowledge, there are no existing, pending or threatened, condemnation, eminent domain or similar proceedings in connection with the Property or any portion thereof. 

(i) Rights to Purchase. Seller has not granted any options or rights of first refusal, rights of first offer or
other similar rights with respect to the purchase of the Property or any interest therein nor do any other unexpired rights exist in favor of third persons to purchase or otherwise acquire the Property or any interest in the Property. 

(j) Agreements with Governmental Authorities. Seller (or its Affiliates) has not entered into any unrecorded
commitments or agreements with any governmental or public authority affecting the Property that would be reasonably likely to have, either individually or in the aggregate, a Material Adverse Effect. 

(k) Tenant Deposits. The Tenant Deposit under the Jewelry Lease is $5,000 and the Tenant Deposit under the Gift
Shop Lease is $7,800. Seller and its agents have held the Tenant Deposits in material compliance with law and the terms of the applicable Lease. 
 (l) Property Contracts. Other than the Property Contracts disclosed in the Inspection Agreement, and Property Contracts hereafter entered into, amended, modified or extended in accordance with
Section 4.3, there are no service, maintenance, repair, utility, management, marketing, sales, supply or equipment rental contracts affecting the Property. All Property Contracts are in full force and effect. To Seller’s knowledge,
there is no default notice outstanding and no material default existing under any of the Property Contracts. 

  
 13 

 (m) Leases. Other than the Leases, there are no leases, subleases,
licenses, concession agreements or other agreements granting use or occupancy rights affecting the Property presently in effect or to take effect in the future and in either case binding upon Seller or with respect to the Condominium Units. There
are no leasing commissions owed or becoming due with respect to any activities at the Property prior to Closing. The Leases are in full force and effect and neither Seller nor the tenant under any Lease is in default under any Lease (the foregoing
does not apply to delinquencies in the payment of monthly rent that have existed for less than thirty (30) days). 
 (n) Permits. As of the Execution Date, Seller has not received written notice alleging any material breach or violation of any provision, condition or limitation of any of the Permits. The
Inspection Agreement contains a true and correct list of all open items necessary to obtain a permanent certificate of occupancy for the Property. 
 (o) Employee Benefit Plans. 
 (i) Disclosed in the
Inspection Records is each “welfare” plan, fund or program (within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended from time to time (“ERISA”)) and each profit-sharing,
stock bonus or other “pension” plan, fund or program (within the meaning of Section 3(2) of ERISA), in each case, that is sponsored, maintained or contributed to or required to be contributed to by Seller, or to which Seller is party,
for the benefit of any employee of Seller who is a Bargaining Unit Employee or a Non-Bargaining Unit Employee (the “Employee Benefit Plans”). Each of the Employee Benefit Plans that is subject to Section 302 or Title IV of
ERISA or Section 412 of the Code is hereinafter referred to in this Section 6.1(o) as a “Title IV Plan.” Seller has no commitment or formal plan, whether legally binding or not, to create any additional employee benefit
plan or modify or change any existing Employee Benefit Plan. 
 (ii) Except as disclosed in the Inspection
Records, no Title IV Plan is a “multiemployer pension plan,” as defined in Section 3(37) of ERISA (a “Multiemployer Plan”), nor is any Title IV Plan a plan described in Section 4063(a) of ERISA. As of the
Execution Date, Seller has not made or suffered a “complete withdrawal” or a “partial withdrawal,” as such terms are respectively defined in Sections 4203 and 4205 of ERISA (or any liability resulting therefrom has been satisfied
in full). 
 (iii) To Seller’s knowledge, all Employee Benefit Plans are in substantial compliance with
ERISA. Each Employee Benefit Plan which is intended to be qualified under Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service, and Seller is not aware of any circumstances likely to result
in revocation of any such favorable determination letter. 
 (p) Equipment Leases. Except as disclosed in
the Inspection Agreement, no furniture, equipment, machinery, inventories, supplies, signs or other tangible personal property installed or located at the Real Property is leased or financed by Seller or its Affiliates. 

(q) Insurance. Seller is maintaining the insurance described in the insurance certificate attached to the
Inspection Agreement, and the premiums therefor have been paid through April 1, 2013. Seller has not received any written notice from any insurance company or board of fire underwriters of any defects or inadequacies in or on the Condominium
Units or any part or component thereof that would be reasonably likely to have a Material Adverse Effect on the insurability of the Condominium Units or cause any material increase in the premiums for insurance for the Condominium Units that have
not been cured or repaired. Except as set forth in the Inspection Agreement, Seller has not received written notice that any insurance company has reserved rights or has or will deny coverage under insurance policies applicable to active cases
involving the Property. 
 (r) Intellectual Property. Seller has not received written notice alleging that
the Intellectual Property or the operation of the Real Property (or any portion thereof) infringes upon or otherwise violates the intellectual property rights of any third party. No settlement agreements, consent agreements, or similar agreements,
or judgments, court orders, or similar obligations to which Seller or its 

  
 14 

 
Affiliates is a party, limit Seller’s rights to own, use, or possess any of the Intellectual Property. The Inspection Agreement contains a true, correct and complete list of all registered
trademarks used in the operation or ownership of the Real Property or any part thereof, other than Excluded Property. Seller is the sole owner of the Intellectual Property, including, without limitation, the “Essex House” trademark. The
trademark “Essex House” is valid, is a federally registered trademark and is in full force and effect and transferable to Purchaser. 
 (s) Personal Property. The Personal Property is owned free and clear by Seller. Upon payment in full of the Purchase Price, the execution and delivery of the Bill of Sale and Assignment, and, if
applicable, Seller’s payment or assignment of the existing mortgage financing in respect of the Property, all of Seller’s right, title and interest in and to the Personal Property will be transferred to Purchaser free and clear of all
liens and encumbrances and rights of third parties, except for Permitted Exceptions and for any liens approved by Purchaser in writing. 
 (t) Operating Statements. The Inspection Records contains true and complete copies of Seller’s operating statements for the calendar months January 2012 through June 2012, prepared in
accordance with the current edition of the Uniform System of Accounts for Hotels of the Hotel Association of New York City, Inc., as adopted by the American Hotel Association of the United States and Canada. 

(u) Labor Matters. 
 (i) As of the Execution Date, except with respect to the Union Contract, no employees of Seller, Hotel Manager or an Affiliate of Seller or Hotel Manager are represented by any labor union or other labor
organization with respect to their employment at the Hotel-Related Units, and, to the knowledge of Seller, there are no organizing activities, representation proceedings or demands for recognition or certification pending with regard to such
persons. 
 (ii) Except for the Union Contract, neither Seller nor an Affiliate of Seller is a party to, bound by
or in the process of negotiating any collective bargaining agreement, memorandum of understanding or other labor-related contract, arrangement or understanding with any labor union or other labor organization applicable to persons employed by Seller
or its Affiliate working at the Hotel-Related Units. 
 (iii) Except for the Union Contract, neither Seller nor
an Affiliate of Seller is a party to, bound by or in the process of negotiating any employee leasing, shared labor or potential joint employer contracts, arrangements or understandings involving the Hotel-Related Units. 

(iv) Except as set forth in the Inspection Records, there has been no strike, boycott, slowdown, walkout, work stoppage,
or lockout at the Hotel-Related Units within the past six (6) months and there is no such labor action pending or, to Seller’s knowledge, threatened against Seller or an Affiliate of Seller with respect to employees who work at the
Hotel-Related Units. 
 (v) Except as described in the Inspection Agreement, there are no grievances, demands or
arbitrations pending against Seller or an Affiliate of Seller under any collective bargaining agreement, memorandum of understanding or other labor-related contract, arrangement or understanding with respect to employees who work at the
Hotel-Related Units. 
 (vi) Except as described in the Inspection Agreement, neither Seller nor its Affiliates
have been the subject of or named in any unfair labor practice charge or complaint under the National Labor Relations Act or similar law, or any other charge or complaint (such as discrimination, harassment or retaliatory action) before the EEOC,
any state or city equivalent agency, or any workers compensation board, and are not obligated by, or subject to, any order of 

  
 15 

 
the National Labor Relations Board or other labor board or administration, or any unfair labor practice decision, or any order, consent decree or other agreement with the EEOC, any state of city
equivalent, or any workers compensation board, with respect to current or former employees at the Hotel-Related Units. 
 (vii) Seller and its Affiliates are in material compliance with all laws, material agreements, contracts, and policies respecting employment and employment practices with respect to employees of Seller or
its Affiliates who work at the Hotel-Related Units except for any non-compliance that would not be reasonably likely to have, either individually or in the aggregate, a Material Adverse Effect. 

(viii) as of the Closing, not more than twenty-five (25) employees of Seller or its Affiliates at the Hotel Unit will
have experienced an “employment loss” (as defined in the WARN Act) in the past ninety (90) days. 

(v) Tax. Seller has duly and timely withheld and remitted or paid all sales, use, excise, gross receipts, payroll,
occupancy and similar taxes required to have been withheld and remitted or paid in connection with the operation of the hotel business to the extent that failure to withhold and remit or pay such taxes would result in Purchaser being liable for such
taxes or would give rise to a lien on the Property. There are no pending real estate tax certiorari proceedings other than as set forth in the Inspection Agreement. 

(w) Condominium. 
 (i) Contained in the Inspection Records are true and complete copies of (A) the condominium declaration for the Essex House Condominium and the by-laws annexed thereto (collectively, the
“Condominium Declaration”) and (B) the Amended and Restated Offering Plan dated August 18, 2006, as amended through the date hereof (the “2006 Plan”). The minutes of the meetings of the Board of Managers
of the Essex House Condominium (the “Board”) and the minutes of the meetings of unit owners of the Essex House Condominium for the period of time from June 2010 to August 2012 have been made available to Purchaser for inspection at
the offices of the Essex House Condominium. None of the foregoing documents have been amended, modified or supplemented, except as set forth in the Inspection Records. 

(ii) Neither Seller nor, to Seller’s knowledge, the Board is in default under Condominium Declaration and, except as
set forth in the Inspection Agreement, no claim has been made against Seller or the Essex House Condominium under the Condominium Declaration. Except for the claims described in the Inspection Agreement, there are no claims against Seller under the
2006 Plan. 
 (iii) Attached to the Inspection Agreement is a true and complete copy of the Management Agreement
dated January 15, 2006, between Essex House Condominium and Jumeirah Hospitality & Leisure (USA) Inc. and includes all amendments and modifications thereto, including, without limitation, that certain Settlement Agreement and Release
dated as of June 29, 2012 between Essex House Condominium and Jumeirah Hospitality & Leisure (USA) Inc. (the “Condominium Management Agreement”). There are no agreements with Jumeirah Hospitality & Leisure
(USA) Inc. which affect the management of the Essex House Condominium other than the Condominium Management Agreement and other than any agreement entered after the date hereof in accordance with Section 4.3. To Seller’s knowledge,
there is no default by Jumeirah Hospitality & Leisure (USA) Inc. under the Condominium Management Agreement. 
 (iv) Seller has not received any written communications from the OAG or from any purchasers or prospective purchasers of any unit sold by Seller at the Essex House Condominium with respect to disclosures
contained in the 2006 Plan or under the Martin Act. 

  
 16 

 (v) As of October 31, 2011, the 2006 Plan has expired and accordingly,
Seller had not marketed or entered into any contracts of sale for the Residential Units since October 31, 2011. 
 (vi) To Seller’s knowledge, Seller and its Affiliates have performed all of their material obligations under the 2006 Plan and Condominium Declaration, and other than any obligation to pursue a
permanent certificate of occupancy for the Property, there remain no material unfulfilled obligations of Seller or any of its Affiliates under the 2006 Plan and Condominium Declaration. 

(x) Financial Statements. Contained in the Inspection Records are true, complete, and correct copies of, the
financial statements of Seller and the Property as of, and for the year ended, December 31, 2011. No representation or warranty is being provided by Seller as to the accuracy of such financial statements. 

(y) Compliance with Anti-Terrorism Laws. Neither Seller nor any person who owns a controlling interest in or
otherwise controls Seller is (i) listed on the Specially Designated Nationals and Blocked Persons List or any other similar list maintained by the Office of Foreign Assets Control, Department of the Treasury, pursuant to any authorizing
statute, Executive Order or regulation, (ii) a “specially designated global terrorist” or other person listed in Appendix A to Chapter V of 31 C.F.R., as the same has been from time to time updated and amended, or (iii) a person
either (A) included within the term “designated national” as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515 or (B) designated under Sections 1(a), 1(b), 1(c) or 1(d) of Executive Order No. 13224, 66 Fed.
Reg. 49079 (published September 25, 2001) or a person similarly designated under any related enabling legislation or any other similar Executive Orders. 
 (z) Compliance with Anti-Money Laundering Measures. Seller has taken measures as required by law to assure that, with respect to each holder of a direct or indirect interest in Seller, funds
invested by such holders directly or indirectly in Seller, are derived from legal sources and such measures have been undertaken in accordance with the Bank Secrecy Act, 31 U.S.C. §§ 5311 et seq., and all applicable laws,
regulations and government guidance on compliance therewith and on the prevention and detection of money laundering violations under 18 U.S.C. §§ 1956 and 1957. 

(aa) Gift Cards, Gift Certificates and “Comp” Letters. The Inspection Agreement sets forth a list of
(I) each (x) letter issued to a guest of the Hotel-Related Units providing such guest with a free or discounted night’s stay or free or discounted food and beverage at the Hotel-Related Units (collectively, the “Comp
Letters”) that has not expired or been redeemed as of the date hereof, and (y) gift certificate and gift card issued by the Hotel Manager (collectively, the “Gift Cards and Certificates” and together with the Comp
Letters, the “Gift Items”) that has not been redeemed as of the date hereof, and (II) all tour and travel commissions paid prior to the date hereof for future Bookings. The Gift Items that have not expired or been redeemed as of the
date hereof have an approximate value of $111,205 in the aggregate. 
 Whenever a representation or warranty is made “to
Seller’s knowledge,” or a term of similar import, the accuracy of such representation or warranty shall be based solely on the actual knowledge of Dinky Puri, Tojo John and Will Armstrong, and Seller represents that such Persons are, in
the ordinary course of business, knowledgeable about the matters covered in this Section 6.1 (provided that, in no event shall any such person have any personal liability arising under this Agreement) and the knowledge of Seller shall
expressly exclude the knowledge of any other shareholder, partner, member, trustee, beneficiary, director, officer, manager, employee, agent or representative of Seller or Hotel Manager or any of their respective Affiliates and “actual
knowledge” means, with respect to any person, the conscious awareness of such person at the time in question, and expressly excludes any constructive or implied knowledge of such person. This Section 6.1 shall survive the Closing
Date for the period and subject to the limitations set forth in Section 6.2 and shall not be deemed merged into any instrument of conveyance delivered at the Closing. 

  
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 6.2 Indemnity; Survival; Limitation of Liability. 

(a) Subject to the provisions of this Section 6.2, Seller hereby agrees to indemnify, defend and hold harmless
Purchaser and Purchaser’s Affiliates and the directors and officers of each of them, and their respective heirs, successors, personal representatives and assigns (each, a “Purchaser Party” and collectively, the
“Purchaser Parties”) with respect to any and all suits, actions, proceedings, investigations, demands, claims, liabilities, fines, penalties, liens, judgments, losses, injuries, damages, expenses or costs, including, without
limitation, attorneys’ and experts’ fees (but only to the extent reasonable) and costs of investigation and remediation costs (collectively, “Purchaser Claims”), whether direct or indirect, known or unknown, foreseen or
unforeseen, that may exist or hereafter arise on account of or in any way be connected with a breach of any of Seller’s representations and warranties contained in this Agreement. 

(b) The indemnifications and the representations and warranties of Seller set forth in Sections 6.1(a), (b), (c), (d),
(e) and (i) shall survive the Closing Date indefinitely and shall not be deemed merged into any instrument of conveyance delivered at the Closing (the “SOL Reps”). 

(c) The indemnifications and the representations and warranties of Seller set forth in Section 6.1(v) (the
“Tax Reps”) shall survive the Closing Date for a period of three hundred and sixty-five (365) days and shall not be deemed merged into any instrument of conveyance delivered at the Closing, but no action or proceeding thereon
shall be valid or enforceable, at law or in equity, if notice of intent to commence a legal proceeding is not delivered on or before such date and if a legal proceeding is not then commenced within ninety (90) days after such date. 

(d) The indemnifications and the representations and warranties of Seller set forth in all other subsections of
Section 6.1 shall survive the Closing Date for a period of three hundred and sixty-five (365) days and shall not be deemed merged into any instrument of conveyance delivered at the Closing, but no action or proceeding thereon shall be
valid or enforceable, at law or in equity, if notice of intent to commence a legal proceeding is not delivered on or before such date and if a legal proceeding is not then commenced within ninety (90) days after such date. 

(e) In no event shall the total liability of Seller under the aforesaid indemnity for any breach of a representation
and/or warranty set forth in all subsections of Section 6.1 by Seller (other than with respect to SOL Reps or the Tax Reps), in the aggregate, exceed $15,000,000. At Closing, Seller and Purchaser shall instruct the Escrow Agent to withhold from
the proceeds due Seller the sum of $7,000,000 (the “Post Closing Escrow Amount”), and to deposit the Post Closing Escrow Amount into a separate interest-earning escrow account (the “Post Closing Escrow Account”) to
be held in escrow by Escrow Agent and disbursed in accordance with the terms and conditions set forth in the escrow agreement attached as Exhibit 6.2(e) (the “Post Closing Escrow Agreement”) Any Purchaser Claims or claims
arising under Section 6.2(h) shall be satisfied first from the Post Closing Escrow Amount and then to the extent the Post Closing Escrow Amount is exhausted from Seller, subject to the limitation set forth in this Section 6.2(e).

 (f) Seller’s liability for SOL Reps and Tax Reps shall not be capped. 

(g) Seller shall have no liability for consequential, exemplary or punitive damages resulting from any such breach. Seller
shall have no liability for any Purchaser Claims resulting from any breach of any representation or warranty set forth herein except for the portion, if any, of such Purchaser Claims which, in the aggregate, are in excess of $1,000,000.
Notwithstanding the foregoing, if, prior to the Closing, Purchaser obtains actual knowledge, or is deemed to have knowledge, that any representation and/or warranty of Seller is inaccurate, untrue or incorrect and Purchaser nonetheless proceeds with
the Closing, Seller shall have no liability for any such inaccurate, untrue or incorrect representation or warranty to the extent of Purchaser’s actual or deemed knowledge. 

(h) Notwithstanding any other provision of this Agreement to the contrary, Purchaser expressly does not assume, and Seller
shall retain, and shall indemnify, defend and hold harmless Purchaser from and against, all direct or indirect liabilities, and such obligations shall survive Closing with no minimum or maximum amounts and with no time limitation other than the
relevant statute of limitations, for or with respect to: 

  
 18 

 (i) the payment of any amounts due and payable or accrued but not yet due or
payable prior to the Closing under the Property Contracts, the Leases, the Union Contract, the Hotel Management Agreement and the Permits, except to the extent Purchaser has received a credit for such liabilities, 

(ii) the payment of all taxes due and payable or accrued but not yet due or payable prior to the Closing Date, except to
the extent Purchaser has received a credit for such taxes, 
 (iii) the employment of any Bargaining Unit
Employees and Non-Bargaining Unit Employees to the extent arising or accruing prior to the Closing Date, including the payment of any compensation due to such Bargaining Unit Employees and Non-Bargaining Unit Employees and including but not limited
to any liabilities to any Bargaining Unit Employees and Non-Bargaining Unit Employees under any of Seller’s employee plans, except to the extent Purchaser has received a credit for such liabilities, 

(iv) the employment of any Non-Bargaining Unit Employees that are not Transferred Employees, whether arising or accruing
prior to or following the Closing, 
 (v) payment or resolution of mechanics’ or materialmens’ lien(s)
filed against the Property relating to periods prior to the Closing (except to the extent such lien(s) are required to be cured or discharged by the Tenant under any Lease), including, without limitation, Seller Encumbrances, 

(vi) any claim arising from events at the Property or the Essex House Condominium during the period of Seller’s
ownership of the Hotel Unit relating to: (A) personal injury, wrongful death, or property damage; (B) the 2006 Plan; and (C) the sale or condition of any real property described in the 2006 Plan; provided that Seller shall have no
obligation to retain, or indemnify Purchaser against, liabilities arising out of claims described in this Section 6.2(h)(vi) to the extent such liabilities are covered by insurance maintained by Purchaser (and Seller hereby agrees that any
statute of limitations with respect to such claims shall be tolled while Purchaser pursues payment under such insurance) nor shall Seller have any obligation to retain, or indemnify Purchaser against, liabilities arising out of this
Section 6.2(h)(vi) to the extent such liabilities do not exceed $5,000 per claim and $35,000 for all claims in the aggregate. 
 6.3 Purchaser’s Representations. Purchaser warrants and represents to Seller as follows: 
 (a) Legal Existence. Purchaser is a corporation duly formed, validly existing and in good standing under the laws of the State of Maryland. 

(b) Authority. Purchaser has full right, power and authority and is duly authorized to enter into this Agreement,
to perform each of the covenants and obligations on its part to be performed hereunder and to execute and deliver, and to perform its obligations under all documents required to be executed and delivered by it pursuant to this Agreement, and this
Agreement constitutes the valid and legally binding obligation of Purchaser enforceable against Purchaser in accordance with its terms; each of the individuals executing this Agreement on Purchaser’s behalf is authorized to do so. 

(c) Litigation. There are no actions, suits or proceedings (including, but not limited to, bankruptcy) pending or,
to the knowledge of Purchaser, threatened against Purchaser or affecting Purchaser which, if determined adversely to Purchaser, would adversely affect its ability to perform its obligations hereunder. 

  
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 (d) Conflicts. Neither the execution, delivery or performance of this
Agreement nor compliance herewith (a) conflicts or will conflict with or results or will result in a breach of or constitutes or will constitute a default under (1) the organizational documents of Purchaser, (2) any judgment, statute,
law or any order, writ, injunction or decree of any court or governmental authority applicable to Purchaser, or (3) any agreement or instrument to which Purchaser is a party or by which it is bound, or (b) results in the creation or
imposition of any lien, charge or encumbrance upon its property pursuant to any such agreement or instrument. 

(e) Governmental Approvals. No authorization, consent or approval of any governmental authority or public
(including courts) is required for the execution and delivery by Purchaser of this Agreement or the performance of its obligations hereunder. 
 (f) Taxpayer I.D. Purchaser’s taxpayer identification number is 30-0746146. 
 (g) Compliance with Anti-Terrorism Laws. Neither Purchaser nor any person who owns a controlling interest in or otherwise controls Purchaser is (i) listed on the Specially Designated Nationals
and Blocked Persons List or any other similar list maintained by the Office of Foreign Assets Control, Department of the Treasury, pursuant to any authorizing statute, Executive Order or regulation, (ii) a “specially designated global
terrorist” or other person listed in Appendix A to Chapter V of 31 C.F.R., as the same has been from time to time updated and amended, or (iii) a person either (A) included within the term “designated national” as defined in
the Cuban Assets Control Regulations, 31 C.F.R. Part 515 or (B) designated under Sections 1(a), 1(b), 1(c) or 1(d) of Executive Order No. 13224, 66 Fed. Reg. 49079 (published September 25, 2001) or a person similarly designated under
any related enabling legislation or any other similar Executive Orders. 
 (h) Compliance with Anti-Money
Laundering Measures. Purchaser has taken measures as required by law to assure that (i) funds to be used to pay the Purchase Price and (ii) with respect to each holder of a direct or indirect interest in Purchaser, funds invested by
such holders directly or indirectly in Purchaser, are derived from legal sources and such measures have been undertaken in accordance with the Bank Secrecy Act, 31 U.S.C. §§ 5311 et seq., and all applicable laws, regulations and
government guidance on compliance therewith and on the prevention and detection of money laundering violations under 18 U.S.C. §§ 1956 and 1957. 
 (i) Purchaser Reliance. Purchaser is experienced in and knowledgeable about the ownership, management, leasing and purchase of commercial real estate and hotel properties, and has relied and will
rely exclusively on its own consultants, advisors, counsel, employees, agents, principals and/or studies, investigations and/or inspections with respect to the Property, its tax or legal status, condition, value and potential, except solely for the
representations and warranties in this Agreement and in the other documents delivered in connection with the Closing hereunder. Purchaser agrees that, notwithstanding the fact that it has received certain information from Seller or its agents or
consultants or brokers, Purchaser has relied solely upon and will continue to rely solely upon its own analysis and will not rely on any information provided by Seller or its agents or consultants or brokers, except solely for the representations
and warranties in this Agreement and in the other documents delivered in connection with the Closing hereunder. 
 Subject to
the provisions of this Section 6.3, Purchaser hereby agrees to indemnify, defend and hold harmless Seller and Seller’s Affiliates and the members, directors and officers of each of them, and their respective heirs, successors, personal
representatives and assigns (each, a “Seller Party” and collectively, the “Seller Parties”) with respect to any and all suits, actions, proceedings, investigations, demands, claims, liabilities, fines, penalties,
liens, judgments, losses, injuries, damages, expenses or costs, including, without limitation, attorneys’ and experts’ fees (but only to the extent reasonable) and costs of investigation and remediation costs (collectively, “Seller
Claims”), whether direct or indirect, known or unknown, foreseen or unforeseen, that may exist or hereafter arise on account of or in any way be connected with a breach of any of Purchaser’s representations and warranties contained in
this Agreement. 

  
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 The representations and warranties of Purchaser as set forth in or made pursuant to this
Agreement shall survive the Closing Date for a period of two hundred seventy (270) days and shall not be deemed merged into any instrument of conveyance delivered at the Closing, and no action or proceeding thereon shall be valid or
enforceable, at law or in equity, if a legal proceeding is not commenced within that time. Purchaser shall have no liability for consequential, indirect, exemplary or punitive damages resulting from any breach of any representation or warranty.

 6.4 Property Conveyed “As Is”. Other than as expressly set forth in Section 6.1 or elsewhere in
this Agreement, Seller specifically disclaims any warranty, guaranty or representation of any kind or character, express or implied, with respect to the Property, including, but not limited to, warranties or representations as to matters of title,
zoning, tax consequences, physical or environmental conditions, availability of access, ingress or egress, operating history or projections, valuation, governmental approvals, governmental regulations or any other matter or thing relating to or
affecting the Property. Purchaser acknowledges it is a knowledgeable purchaser of real estate and that, except for Seller’s representations set forth in Section 6.1 and elsewhere in this Agreement, it is purchasing the Property solely in
reliance on its own expertise and investigations and those of Purchaser’s agents and that, Purchaser has had a full and complete opportunity to conduct such investigations, examinations, inspections and analysis of the Property as Purchaser, in
its sole and absolute discretion, may determine, and will rely upon same. In consideration of the agreements of Seller herein, Purchaser expressly acknowledges that, other than as expressly set forth in this Agreement, Seller makes no
representations or warranties, express or implied, or arising by operation of law, including, but not limited to, any warranty of value, condition, habitability, merchantability, marketability, profitability, suitability or fitness for a particular
purpose or use of the Property. In consideration of the agreements of Seller in this Agreement, Purchaser (i) acknowledges that, other than as set forth in this Agreement or in any other documents delivered pursuant to Section 8.2, it has
not relied upon, either directly or indirectly, any representation or warranty of or any statements, information or other material provided by Seller or any agent of Seller, (ii) assumes the risk that adverse matters, including, but not limited
to, adverse physical, financial and environmental conditions, may not have been revealed by Purchaser’s inspections and investigations, (iii) acknowledges that, other than as set forth in this Agreement, Seller is conveying to Purchaser
and Purchaser is accepting the Property “AS IS, WHERE IS, WITH ALL FAULTS”, (iv) acknowledges and agrees that there are no oral agreements, warranties, or representations, collateral to or affecting the Property by Seller, any agent
of Seller or any third party and (v) acknowledges that, except as expressly set forth in this Agreement, Seller has not made an independent investigation or verification of the accuracy or completeness of any documents, studies, surveys,
information or materials which were prepared by parties other than Seller and which were provided, or made available, to Purchaser or the methods employed by the preparers of such items. The provisions of this Section 6.4 shall survive
(i) the Closing and shall not be deemed merged into any instrument of conveyance delivered at the Closing or (ii) earlier termination of this Agreement. The parties acknowledge and agree that all understandings and agreements heretofore
made between them or their respective agents or representatives regarding the purchase and sale of the Property are merged into this Agreement and the Exhibits attached hereto, which alone fully and completely express their agreement, and that
neither party is relying upon any statement, promise or representation by any other party unless such statement, promise or representation is specifically and expressly set forth in this Agreement or the Exhibits attached hereto, or is subsequently
expressly made by Seller in the closing documents or any other documents executed by Seller and delivered to Purchaser hereunder. 
 6.5 Release. 
 (a) Except solely for actions commenced
during the survival period applicable thereto as set forth in Section 6.2 following the Closing Date for a breach of Seller’s representations and warranties set forth in this Agreement or in any other documents delivered pursuant to
Section 8.2 (and subject to the provisions of Section 6.2), Purchaser hereby waives and agrees not to commence any action, legal proceeding, cause of action or suits in law or equity, of whatever kind or nature, directly or indirectly,
against any of Seller, Seller’s Affiliates or Seller Parties or their agents in connection with the Purchaser Claims for a breach of Seller’s representations and warranties set forth in this Agreement. Purchaser elects to and does assume
all risk for such claims heretofore and hereafter arising, whether now known or unknown by Purchaser. To the extent permitted by law, Purchaser hereby agrees, represents and warrants that Purchaser realizes and acknowledges that factual matters now
unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses and expenses which are presently unknown, unanticipated and unsuspected, and Purchaser further agrees,

  
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represents and warrants that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that, except for a breach of Seller’s representations and
warranties on which action is commenced within the applicable survival period hereunder, Purchaser nevertheless hereby intends to release, discharge and acquit Seller from any such unknown causes of action, claims, demands, debts, controversies,
damages, costs, losses and expenses which might in any way be included as a material portion of the consideration given to Seller by Purchaser in exchange for Seller’s performance hereunder. 

(b) Without limitation of the foregoing, if Purchaser as of the Closing has actual knowledge or deemed knowledge of
(i) a default in any of the covenants, agreements or obligations to be performed by Seller under this Agreement prior to the Closing and/or (ii) any breach of or inaccuracy in any representation or warranty of Seller made in this
Agreement, and Purchaser nonetheless elects to proceed to Closing, then, upon the consummation of the Closing, Purchaser shall be deemed to have waived any such default and/or breach or inaccuracy and shall have no Purchaser Claim against Seller,
Seller’s Affiliates or the other Seller Parties with respect thereto to the extent of Purchaser’s actual or deemed knowledge. 
 (c) The provisions of this Section 6.5 shall survive (i) the Closing and shall not be deemed merged into any instrument of conveyance delivered at the Closing or (ii) earlier termination of
this Agreement. 
 7. Conditions Precedent. 
 7.1 Conditions Precedent to Purchaser’s Obligations. Purchaser’s obligations under this Agreement are expressly subject to the timely fulfillment of the conditions set forth in this
Section 7.1 on or before the Closing Date. Each condition may be waived in whole or in part only by written notice of such waiver from Purchaser to Seller. Seller shall use commercially reasonable efforts to satisfy such conditions as are
within Seller’s reasonable control. 
 (a) Seller performing and complying with all of the terms of this
Agreement to be performed and complied with by Seller prior to or at the Closing. 
 (b) All of the
representations and warranties of Seller set forth in this Agreement shall be true, accurate and complete as of the Closing Date, except for those representations and warranties expressly made only as of the Execution Date (which shall nonetheless
be true as of such date). 
 (c) The Title Company’s issuance of a Title Policy or commitment to issue a
Title Policy complying with the requirements of Section 3.3. 
 (d) Richard Siegler, Herbert Teitelbaum and
Chris Mander shall have resigned from the Board of Managers of Essex House Condominium. 
 (e) The receipt by
Seller of the “no-action letter” from the OAG described in Section 4.3(h). 
 (f) At
Purchaser’s sole election, to be made not less than ten (10) Business Days prior to the Closing Date, Seller shall cause Hotel Manager to enter into an agreement (the “Interim Jumeirah Agreement”) with Purchaser allowing
Purchaser the right to have the Hotel-Related Units operated by Hotel Manager as a Jumeirah-branded hotel for up to sixty (60) days following the Closing Date in accordance with the terms and conditions of the Hotel Management Agreement;
provided, however, that the Interim Jumeirah Agreement, shall specify, at a minimum, that (i) Purchaser shall not be obligated to pay (or repay) to Hotel Manager or any Affiliate of Hotel Manager any management fees (including, without
limitation, any base or incentive fees, whether accrued prior to the Closing or attributable to the period following the Closing), termination fees, key money, loans, marketing charges and centralized service charges, in each case, as set forth in
the Hotel Management Agreement, but Purchaser shall pay reimbursable expenses incurred in accordance with the Hotel Management Agreement 

  
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during the term of the Interim Jumeirah Agreement; (ii) Purchaser shall not be obligated to fund any reserves with Hotel Manager during the term of the Interim Jumeirah Agreement; and
(iii) Hotel Manager shall assist with any transition to a management company designated by Purchaser. In the event that Purchaser makes the election to retain Hotel Manager as the operator for the Hotel-Related Units as provided above, Jumeirah
Hospitality & Leisure (USA) Inc. shall also continue to manage the Essex House Condominium pursuant to the Condominium Management Agreement. 
 7.2 Conditions Precedent to Seller’s Obligations. Seller’s obligations under this Agreement are expressly subject to the timely fulfillment by Purchaser of the conditions set forth in
this Section 7.2 on or before the Closing Date. Each condition may be waived in whole or part only by written notice of such waiver from Seller to Purchaser. 

(a) Purchaser paying the Balance of the Purchase Price. 

(b) Purchaser performing and complying with all of the terms of this Agreement to be performed and complied with by
Purchaser prior to or at the Closing. 
 (c) On the Closing Date, all of the representations and warranties of
Purchaser set forth in this Agreement shall be true, accurate and complete in all material respects. 
 (d) The
receipt by Seller of the “no-action letter” from the OAG described in Section 4.3(h). 
 8. Closing.

 8.1 Closing Date. 
 (a) Closing. The closing shall take place at the office of Morrison & Foerster LLP, 1290 Avenue of the Americas, New York, New York 10104 at 1:00 P.M. (New York City time) or through
customary closing arrangements reasonably acceptable to Seller and Purchaser (the “Closing”), on August 31, 2012 (as extended pursuant to the proviso of this sentence, the “Closing Date”); provided, however,
Purchaser shall have the right, upon written notice to Seller and the Escrow Agent at least three (3) Business Days prior to the originally scheduled Closing Date, to extend the Closing Date for up to but not beyond September 7, 2012. Time
shall be of the essence with respect to the parties’ obligations to consummate the transactions contemplated by this Agreement on the Closing Date. 
 8.2 Seller’s Deliveries. At or prior to the Closing, Seller shall deliver or cause to be delivered, at Seller’s sole expense (except where expressly provided to the contrary below)
pursuant to customary closing escrow arrangements reasonably satisfactory to Seller and Purchaser, each of the following items with respect to the Property: 
 (a) A bargain and sale deed with covenants against grantor’s acts duly executed and acknowledged by Seller, in the form attached hereto as Exhibit 8.2(a), subject only to the Permitted
Exceptions. 
 (b) Two (2) duly executed and acknowledged original counterparts of a Bill of Sale and
General Assignment (the “Bill of Sale and Assignment”) in the form attached hereto as Exhibit 8.2(b). 
 (c) Two (2) duly executed and acknowledged original counterparts of the Assignment and Assumption of Lease (including an assignment of all of Seller’s rights, if any, in the Tenant Deposits) in
the form attached hereto as Exhibit 8.2(c). 
 (d) Two (2) duly executed and acknowledged
original counterparts of the Assignment of Bookings and Booking Deposits in the form attached hereto as Exhibit 8.2(d). 

  
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 (e) Two (2) duly executed and acknowledged original counterparts of the
Assignment of Intellectual Property in the form attached hereto as Exhibit 8.2(e). 
 (f) A duly
executed notice of termination to each counterparty to a Terminable Contract advising such counterparty that such Terminable Contract is terminated effective as of the end of the notice period required under such Terminable Contract to terminate
such Terminable Contract. 
 (g) A duly executed copy of a letter to each counterparty to the Property Contracts,
in the form attached hereto as Exhibit 8.2(g) or as otherwise required pursuant to the terms of such Property Contract, advising them of the sale of the Property to Purchaser, which letter shall be delivered by Purchaser to each of such
counterparties. 
 (h) All keys and combinations to all locks on the Property (including, without limitation.
those used by Seller) and all documents, instruments or records in the possession of Seller (or to which Seller is otherwise entitled) which are necessary for the ownership and operation of the Property. Delivery of such keys, documents, instruments
and records may be effected by leaving them at the Property. 
 (i) Two (2) duly executed copies of a
non-foreign person affidavit in the form attached hereto as Exhibit 8.2(i) sworn to by Seller as required by Section 1445 of the Code. 
 (j) [intentionally omitted]; 
 (k) An affidavit to the Title
Company in the form of Exhibit 8.2(k) hereto relating to certain title, survey and lien matters and such evidence, certificates or documents relating to the status and capacity of Seller and the authority of the person or persons who are
executing the various documents on behalf of Seller in connection with the purchase of the Property as may be reasonably required by the Title Company in order to issue the Title Policy. 

(l) A duly executed copy of a 1099-S form required by the Internal Revenue Service. 

(m) (i) Originals, or if originals are unavailable, copies of all the Property Contracts all Permits, and all other
documents in the possession of Seller or the Hotel Manager required for the operation of the Property and including all permits, licenses, approvals, plans, specifications, surveys, guaranties and warranties (but excluding Excluded Property and
projections and analyses relating to the operation of the Property), it being agreed that delivery of the Property Contracts may be effected by leaving them at the Property; (ii) data and materials (including IP, IT, software, websites and
phone numbers) constituting or relating to the Hotel Unit IP, Books and Records and the Intellectual Property that are required for the operation of the Property, but excluding Excluded Property and projections and analyses relating to the operation
of the Property; (iii) information as to all Bookings, advance room reservations, functions and the like, in reasonable detail, and (iv) information regarding each employee whose employment is to be continued by Hotel Manager or
Purchaser’s designated management company (or Affiliate) upon Closing, as to salaries and duties and length of service, the date to which such employee has been paid, accrued but unpaid sick leave, vacation pay, salary, wages, bonuses, profit
sharing, pension, health and welfare benefits, employee severance payments and other compensation and fringe benefits, and whether such employee is participating in a group health plan maintained by Seller, Hotel Manager or any of their Affiliates
through the exercise of COBRA benefits or otherwise. 
 (n) Two (2) duly executed original counterparts of
the Preliminary Closing Statement in accordance herewith. 
 (o) Two (2) duly executed and acknowledged
original counterparts of a New York City Real Property Transfer Tax Return, including Property Owner’s Registration Form. 

  
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 (p) Two (2) duly executed original counterparts of an Affidavit in Lieu
of Registration Statement. 
 (q) Two (2) duly executed original counterparts of a New York State Combined
Real Estate Transfer Tax Return, Credit Line Mortgage Certificate and Certificate of Exemption from the Payment of Estimated Personal Income Tax, properly completed. 

(r) The estoppel certificate from the Board in the form of Exhibit 8.2(r) attached hereto. 

(s) Two (2) duly executed original counterparts of a New York State Real Property Transfer Report for New York City,
properly completed. 
 (t) To the extent applicable, two (2) duly executed original counterparts of the
Interim Jumeirah Agreement. 
 (u) [intentionally omitted] 

(v) Unless Purchaser has made the election to require the Interim Jumeirah Agreement in accordance with
Section 7.1(f), one or more written agreements from Jumeirah Hospitality & Leisure (USA) Inc. to Seller pursuant to which Hotel Manager confirms the termination of the Hotel Management Agreement dated January 15, 2006
between Hotel Manager and Seller (as amended, supplemented or otherwise modified, the “Hotel Management Agreement”) and Jumeirah Hospitality & Leisure (USA) Inc. confirms the termination of the Condominium Management
Agreement, in each case, effective as of the Closing Date; provided, however, upon Purchaser’s request made at least five (5) Business Days prior to the Closing Date, Seller shall instead cause Jumeirah Hospitality & Leisure (USA)
Inc. to assign its interest in the Condominium Management Agreement at Closing to a first class hotel operator designated by Purchaser. 
 (w) Two (2) duly executed and acknowledged original counterparts of the Assignment and Assumption of Sponsor’s Rights with respect to the Condominium Declaration in the form attached hereto as
Exhibit 8.2(w). 
 (x) To the extent required at Closing in accordance with Section 4.2, Two
(2) original counterparts of the Interim Agreement, fully executed by Seller and Manager (as defined therein) and any of their necessary Affiliates. 
 (y) Such other documents as may be reasonably necessary or appropriate to effect the consummation of the transaction which is the subject of this Agreement or which are otherwise required or contemplated
by this Agreement. 
 8.3 Purchaser’s Deliveries. At or prior to the Closing (unless expressly set forth below),
Purchaser shall deliver the following items to be transferred at the Closing pursuant to customary closing escrow arrangements reasonably satisfactory to Seller and Purchaser: 

(a) By wire transfer (as adjusted in accordance with the provisions of this Agreement) of immediately available federal
funds, the Balance of the Purchase Price. 
 (b) Two (2) duly executed and acknowledged original
counterparts of each of Seller’s deliveries set forth in Sections 8.2(a), (b), (c), (d), (e), (j), (n), (t), (w) and (x) (if applicable). 
 (c) No later than fifteen (15) Business Days prior to the Closing Date, two (2) duly executed and acknowledged original counterparts of the Assumption Agreement in the form attached hereto as
Exhibit 8.3(c), which Assumption Agreement and counterparts shall be delivered to the labor union associated with the Hotel-Related Units together with a letter, in form and substance reasonably acceptable to Seller, signed by Purchaser
and identifying the Purchaser as the successor owner of the Real Property and enclosing the applicable provisions from this Agreement that require Purchaser to assume the Union Contract. 

  
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 (d) Such evidence, certificates or documents as may be reasonably required
by the Title Company relating to the status and capacity of Purchaser and the authority of the person or persons who are executing the various documents on behalf of Purchaser in connection with the purchase of the Property. 

(e) Such other documents as may be reasonably necessary or appropriate to effect the consummation of the transaction which
is the subject of this Agreement or which are otherwise required or contemplated by this Agreement. 
 8.4 Costs and
Prorations. 
 (a) Closing Costs. Purchaser, on the one hand, and Seller, on the other hand, shall
each pay their own legal fees related to the negotiation and preparation of this Agreement and all documents required to consummate the transaction contemplated hereby. Seller shall pay (i) the costs to remove, discharge or insure over any
Seller Encumbrances and all recording fees associated with Seller Encumbrances, (ii) all fees and charges due and payable to Hotel Manager under the Hotel Management Agreement, including any termination fees associated with the termination of
said agreement (notwithstanding the execution of the Interim Jumeirah Agreement, if applicable), and any related de-identification costs and expenses (including any such expenses incurred after the Closing Date) and (iii) any prepayment
penalties on mortgage debt encumbering the Property and costs related to the repayment or release of such debt, subject to the provisions of Section 4.3(j). Purchaser shall pay (i) all costs associated with its due diligence, including,
without limitation, the cost of appraisals, architectural, engineering, credit and environmental reports, (ii) all mortgage taxes, if any, (iii) all recording fees (other than to discharge Seller Encumbrances), (iv) all sales and use
taxes applicable to the sale of the Personal Property, (v) the premium for any title insurance including the Title Policy, (vi) all new survey or update costs and (vii) the costs of title search and examination with respect to the
Property ordered by Purchaser. Seller shall pay all city, state and county transfer taxes and similar amounts relating to the conveyance of the Real Property from Seller to Purchaser. Purchaser, on the one hand, and Seller, on the other hand, shall
each pay fifty percent (50%) of any escrow charges of Escrow Agent related to the Deposit and the Closing. All other customary purchase and sale closing costs shall be paid by Seller or Purchaser in accordance with the custom in the
jurisdiction of New York. 
 (b) Prorations. The following shall be prorated between Seller and Purchaser
as of the Cut-Off Time: 
 (i) All real estate taxes, water or sewer charges and general or special assessments
on the Real Property, or any other governmental tax or charge levied or assessed against the Property. If the Closing shall occur before the actual amounts payable are known, then apportionment shall be based on the most recently ascertainable tax
rates and assessed value of the Property. Seller shall be responsible for all such taxes that are allocable to any period prior to the Closing Date and Purchaser shall be responsible for all such taxes allocable to any period from and after the
Closing Date. If any taxes or assessments relating to the period prior to the Closing are paid in installments, then Seller shall pay on or before the Closing Date any remaining installments with respect to such taxes or assessments that are
allocable to any period prior to the Closing Date. Seller and Purchaser agree that to the extent the actual taxes for the current year differ from the amount so apportioned at Closing, the parties hereto will within thirty (30) days after
receipt of a request from Purchaser or Seller, as applicable, make all necessary adjustments by appropriate payments between themselves promptly following the Closing. At Closing, Seller shall transfer to Purchaser control of all pending real estate
tax certiorari proceedings which would or could affect post-Closing periods. After Closing, Purchaser shall pay over to Seller any sums realized through such certiorari proceedings which are allocable to periods prior to Closing (after recovery of a
reasonable allocation of the legal expense and other costs incurred in realizing such sums). 

  
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 (ii) All rent for the month in which the Closing occurs with respect to the
Leases shall be prorated at Closing. There shall be no credit for delinquent rent, which shall be paid over by Purchaser to Seller if collected by Purchaser after the Closing. 

(iii) With respect to Property Contracts assumed by Purchaser in accordance with this Agreement, (1) Seller shall be
credited for sums prepaid by Seller under the Property Contracts, (2) Purchaser shall be credited for any amounts under the Property Contracts which as of Closing are due or accrued and relate to the period prior to Closing and
(3) Purchaser and Seller shall prorate any amounts prepaid by the counterparty to any Property Contract (including, without limitation, prepaid bonuses or decorating allowances paid to Seller with respect to laundry or other similar ancillary
agreements) over the term of the Property Contract. 
 (iv) Seller shall perform, or cause to be performed, an
accounting of cash on hand at the Property (i.e., in-house banks and petty cash, including till money, and, to the extent same are the property of Seller, vending machines and pay telephones) in the presence of a representative of Purchaser and
Purchaser shall retain such amounts and Seller shall be credited with a like amount at Closing. 
 (v) All tour
and travel agent commissions paid prior to Closing by Seller in respect of Bookings relating to a period after the Closing shall be credited to Seller at Closing. All advance deposits received by Seller prior to Closing in respect of Bookings
relating to a period after the Closing shall be credited to Purchaser at Closing. Purchaser shall have no obligation to honor any reward stays occurring after Closing and accordingly Purchaser shall receive no credit for any such reward stay it
elects to honor after Closing. 
 (vi) All accrued compensation (including without limitation, accrued severance
and vacation benefits and any other benefits) payable to Transferred Employees and Bargaining Unit Employees (including, without limitation, compensation and benefits provided for under the Union Contract with respect to employees covered by the
Union Contract) and any applicable employment and withholding taxes of such employees, attributable to the period prior to Closing, shall be credited to Purchaser. 

(vii) To the extent that with respect to electricity, telephone, television, gas, water and sewer services which are
metered and other utilities, Seller shall use reasonable efforts to have the respective companies providing such utilities read the meters on or immediately prior to the Cut-Off Time. Seller shall be responsible for all charges based on such final
meter readings and Purchaser shall be responsible for all charges thereafter. To the extent such meters are not read and final bills rendered as of the Cut-Off Time, such charges with respect to the Property shall be prorated effective as of the
Cut-Off Time utilizing an estimate of such charges reasonably approved by both Purchaser and Seller based on prior utility bills, unless Seller elects to close its own applicable account as of the Cut-Off Time, in which event Purchaser shall open
its own account as of the Closing Date and the respective charges shall not be prorated, and, if Seller does not close its own applicable account, any deposits or credits with respect to the foregoing services will be credited to Seller if Purchaser
receives full credit therefor from the utility. Upon the taking of a subsequent actual reading, such apportionment shall be adjusted to reflect the actual rate for the billing period in which the date of Closing falls, and Seller, or Purchaser, as
the case may be, shall promptly deliver to the other the amount determined to be due upon such adjustment. 

(viii) Seller shall be responsible for all condominium charges, including without limitation Common Charges and Special
Assessments, if any (as such terms are defined in the Condominium Documents) and such other charges as may be due under the Condominium Documents (collectively, the “Condominium Charges”), in respect of the Essex House Condominium
that are allocable to any period prior to the Closing Date and Purchaser shall be 

  
 27 

 
responsible for all such Condominium Charges allocable to any period from and after the Closing Date. If any such Condominium Charges relating to the period prior to the Closing are paid in
installments, then Seller shall pay on or before the Closing Date any remaining installments with respect to such Condominium Charges that are allocable to any period prior to the Closing Date and same shall be adjusted between Seller and Purchaser
as of the Cut-Off Time. Seller and Purchaser agree that to the extent the actual Condominium Charges differ from the amount so apportioned at Closing, the parties hereto will within thirty (30) days after receipt of a request from Purchaser or
Seller, as applicable, make all necessary adjustments by appropriate payments between themselves promptly following the Closing. 
 (ix) As of the date hereof the balance of the FF&E reserve held for Seller’s benefit for the Hotel-Related Units is $7,065,390.25 (the “FF&E Balance”). At Closing, Purchaser
shall receive a credit in an amount equal to the FF&E Balance on the date hereof. Notwithstanding the foregoing, between the date hereof through and including the Closing Date, Seller may use any portion of the FF&E Balance or increase the
FF&E Balance; provided, however, (x) no increase in the FF&E Balance over the FF&E Balance on the date hereof shall be credited to Purchaser at Closing and (y) no reduction in the FF&E Balance below the FF&E Balance on
the date hereof shall result in a credit to Purchaser at Closing of less than the FF&E Balance on the date hereof. 

Representatives of Seller and Purchaser shall make such inventories, examinations and audits of Seller, and of the books and records of
Seller, as may be necessary to make the adjustments and prorations required under this Agreement. Prior to Closing, representatives of Purchaser and Seller shall jointly prepare a statement (the “Preliminary Closing Statement”)
based upon such preliminary inventories, audits and examinations which will show the net amount due to Seller or Purchaser as the result thereof, and that net amount will be added to, or deducted from, the Purchase Price. Within ninety
(90) days following the Closing, representatives of Purchaser and Seller shall prepare a revised statement (the “Final Closing Statement”, and together with the Preliminary Closing Statement, collectively, the “Closing
Statements”) setting forth the final determination of all items to be included in the Closing Statements, and any necessary payment shall be made within thirty (30) days after completion of such Final Closing Statement. Any item which
cannot be finally prorated because of the unavailability of information shall be tentatively prorated on the basis of the best data then available and re-prorated when the information is available. The provisions of this Section 8.4 shall
survive the Closing for a period of twelve (12) months and shall not be deemed merged into any instrument of conveyance delivered at the Closing. 
 Purchaser and Seller acknowledge and agree that, except as otherwise expressly provided herein, the purpose and intent of the provisions set forth in this Section 8.4 and elsewhere in this Agreement
as to prorations and apportionments is that Seller shall bear all expenses of the ownership and operation of the Property (for which buyers and sellers of hotels in The City of New York would customarily prorate or apportion) and shall receive all
income therefrom accruing through the Cut-Off Time and Purchaser shall bear all such expenses and receive all income accruing thereafter. Any revenues and/or expenses affecting the Property that are not otherwise specifically addressed in
Section 8.4(b) shall be apportioned consistently with the foregoing provisions. Purchaser and Seller further acknowledge and agree that the apportionments as to the Hotel-Related Units in this Section 8.4(b) shall be prepared, to the
extent applicable, in accordance with the current edition of the Uniform System of Accounts for Hotels of the Hotel Association of New York City, Inc., as adopted by the American Hotel Association of the United States and Canada. 

8.5 Guest Ledger Receivables. Seller shall receive a credit for fifty percent (50%) of all guest ledger receivables for guest
room rates and applicable taxes from transient guests then in occupancy for their then period of occupancy, as of 11:59 p.m. on the day preceding the Closing (the “Cut-Off Time”) and the other fifty percent (50%) of such
guest room rates and applicable taxes shall belong to Purchaser. Other guest ledger receivables before the Cut-Off Time shall belong one hundred percent (100%) to Seller. All guest ledger receivables after the Cut-Off Time shall belong one
hundred percent (100%) to Purchaser. Seller shall also receive such income and shall be charged the expenses attributable to any other revenue sources at the Hotel-Related Units, including, without limitation, telephone, parking, restaurant and
bar revenue, until the Cut-Off Time, and Purchaser shall receive a credit for the income and expenses attributable to such other revenue sources which remain open after the Cut-Off Time. 

  
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 8.6 Other Receivables. All Miscellaneous Accounts Receivable of Seller shall remain
Seller’s property. Purchaser shall cooperate, at Seller’s expense, with Seller’s efforts (using Purchaser’s commercially reasonable efforts, but provided that Purchaser shall not be required to institute any litigation or to
spend any money or incur any expense in order to do so) to collect Seller’s Miscellaneous Accounts Receivable after Closing, and Purchaser shall deliver any amounts due to Seller with respect to any such accounts receivable in accordance with
the provisions hereof less Purchaser’s reasonable third party collection costs, if any. Any collections shall be applied first to the newest outstanding invoice, unless (a) such invoice is in dispute, in which case, subject to clause
(b) below, the collection shall be applied to the next newest invoice not in dispute, or (b) the payor has designated the invoice against which the collection should be applied, in which case, such collection shall be applied to the
invoice so designated. For a period of one (1) year after Closing, Seller shall be entitled to reasonable access, on the basis of not more than once per calendar quarter, to Purchaser’s management employees and accountants, as well as all
relevant records and working papers prepared by or for Purchaser, to aid in Seller’s collection of its Miscellaneous Accounts Receivable and Seller shall have the right to audit Purchaser’s books and records with respect thereto. If, at
the conclusion of any such audit, Seller’s audit reveals that Purchaser collected and retained the benefit of any of Seller’s accounts receivable, Purchaser shall remit such amount to Seller upon demand. Should Purchaser disagree with the
results of Seller’s audit, Seller and Purchaser shall refer the matter to a mutually acceptable independent certified public accountant, who shall work in good faith with Seller and Purchaser to resolve the dispute. The fees and costs of such
independent accountant to which such dispute is referred shall be borne by the unsuccessful party and shall be shared pro rata to the extent each party is unsuccessful as determined by such independent certified public account, whose decision shall
be final and binding. For the purpose of this Agreement, “Miscellaneous Accounts Receivable” shall mean all accounts receivable other than the guest ledger receivables, rentals and charges described in Sections 8.4 and 8.5. All
account receivable amounts payable to Seller under this Agreement shall be paid by Purchaser within thirty (30) days of Purchaser’s receipt thereof. In addition, the parties shall cooperate with each other and conduct a true-up accounting
on or about the one hundred eightieth (180th) day and again on or about the three hundred sixtieth (360th) day after the Closing Date in order to true-up any amounts owed. 

8.7 Insurance Premiums. Subject to Section 5.1, the Insurance Policies shall not be assigned to Purchaser, and there shall be
no apportionment with respect to any insurance premiums due thereunder. 
 8.8 Unredeemed Gift Items. 

(a) From and after the Closing Date, Purchaser shall honor all Gift Cards and Certificates that have not been redeemed as
of the Closing Date at their full value. At Closing, Purchaser shall be credited for seventy percent (70%) of the first $25,000 of the Gift Cards and Certificates that have not been redeemed as of the Closing Date and one hundred percent
(100%) of any additional Gift Cards and Certificates that have not been redeemed as of the Closing Date. 

(b) From and after the Closing Date, Purchaser shall honor all Comp Letters that have not expired or been redeemed as of
the Closing Date. At Closing, Purchaser shall be credited for seventy percent (70%) of the Comp Letters that have not expired or been redeemed as of the Closing Date which credit shall be equal to seventy percent (70%) of the value of the
Comp Letters as set forth on Exhibit 6.1(aa). 
 8.9 Records. For a period of three (3) years following the
Closing Date, Purchaser shall retain, and allow Seller and its representatives reasonable access once per quarter to review, all documents relating to the Property for the period of Seller’s ownership or operation thereof reasonably requested
by Seller and which Seller was not able to copy prior to the Closing, provided, that any such review shall take place at the Property or such other site in New York City as designated by Purchaser and in the presence of a representative of
Purchaser. The provisions of this Section 8.9 shall survive the Closing and shall not be deemed merged into any instrument of conveyance delivered at the Closing. 
 8.10 Notice to Tenants under the Leases. Seller covenants and agrees to execute, at the Closing, a written notice of the acquisition of the Property by Purchaser for transmittal to each Tenant
under a Lease and properly addressed to such Tenant. Such notice shall be prepared by Seller in the form attached hereto as Exhibit 8.8 or as otherwise required pursuant to the terms of the applicable Lease, shall notify such Tenant of
the 

  
 29 

 
sale and transfer and shall contain appropriate instructions relating to the payment of future rentals, the giving of future notices, and other matters reasonably required by Purchaser or
required by law. Unless a different procedure is required by applicable law, in which event such laws shall be controlling, Purchaser agrees to transmit or otherwise deliver such letter to such Tenant, with a copy thereof to Seller, promptly after
such Closing. 
 8.11 Branded Inventory, Supplies and Materials. From the Closing until the sixtieth (60th) day
following the Closing Date, Purchaser shall be permitted to use any Jumeirah branded inventory, supplies and materials transferred to Purchaser pursuant to this Agreement; provided, however, such inventory, supplies and materials shall be used
solely in connection with the operation of the Hotel-Related Units and shall not be used or discarded in a manner that is disparaging to the Jumeirah brand or brings about liabilities to Hotel Manager or its Affiliates. 

8.12 Liquor Inventory. Seller shall receive a credit at Closing for Seller’s unopened inventory of liquor on the Closing
Date. Such credit shall be calculated at fifty percent (50%) of the unit cost of each unopened bottle of liquor. 
 9.
Real Estate Commissions. If and when, but only if and when, the Closing is completed and the Purchase Price is paid in full, Seller shall be obligated to pay a real estate commission and/or brokerage fee to Broker pursuant to a separate
agreement between Seller and Broker. Such commissions shall be paid in full at the Closing. Purchaser shall have no obligation whatsoever to make any payment to Broker in connection with the purchase and sale of the Property. Seller and Purchaser
represent and warrant to each other that no other brokerage fee or real estate commission is or shall be due or owing to any party other than Broker in connection with this transaction based on any action or contact by such party, and Seller and
Purchaser hereby agree to indemnify, defend and hold harmless the other from any and all loss, liability, claim, cause of action, damage, cost or other expense of any nature whatsoever, including, without limitation, attorneys’ fees and
expenses (but only to the extent reasonable), resulting from a breach of such representation and warranty. The provisions of this Section 9 shall survive (i) the Closing and shall not be deemed merged into any instrument of conveyance
delivered at the Closing or (ii) earlier termination of this Agreement. 
 10. Termination And Default. 

10.1 Termination by Purchaser. If this Agreement is terminated by Purchaser pursuant to its rights to terminate as expressly
provided elsewhere in this Agreement or if a condition to Purchaser’s obligation to close in accordance with the terms of this Agreement is not satisfied or waived, then the Deposit shall, in accordance with the procedures set forth in
Section 13, promptly be returned to Purchaser by Escrow Agent and, except as provided for in Section 10.3 or elsewhere in this Agreement, Purchaser and Seller shall have no further obligations or liabilities hereunder. 

10.2 PURCHASER’S DEFAULT; LIQUIDATED DAMAGES – DEPOSIT. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS
AGREEMENT, IF THE CLOSING AND THE TRANSACTION CONTEMPLATED HEREBY ARE NOT CONSUMMATED AS RESULT OF PURCHASER’S DEFAULT HEREUNDER, WHICH DEFAULT IS NOT CURED WITHIN TEN (10) BUSINESS DAYS AFTER NOTICE FROM SELLER IN THE CASE OF A MONETARY
DEFAULT (PROVIDED THE FOREGOING NOTICE AND CURE PERIOD SHALL NOT APPLY TO PURCHASER’S FAILURE TO MAKE THE DEPOSIT AS AND WHEN REQUIRED PURSUANT TO SECTION 2(a)(i)) OR PRIOR TO CLOSING IN THE CASE OF ANY NON-MONETARY DEFAULT (PROVIDED THAT IN NO
EVENT SHALL THE FOREGOING OF THIS SECTION 10.2 BE DEEMED TO OPERATE AS AN EXTENSION OF THE CLOSING DATE AND ANY CURE PERIOD GRANTED TO PURCHASER HEREUNDER FOR A MONETARY DEFAULT OR A NON-MONETARY DEFAULT (WHETHER OR NOT NOTICE OF SAME IS GIVEN TO
PURCHASER) THAT WOULD EXTEND PAST THE CLOSING DATE SHALL BE AUTOMATICALLY SHORTENED TO EXPIRE AS OF THE TIME AND DATE SET FOR CLOSING IN ACCORDANCE WITH SECTION 8.1(a)), AND PROVIDED THAT ALL CONDITIONS TO PURCHASER’S OBLIGATIONS TO CONSUMMATE
THE TRANSACTIONS HEREIN CONTEMPLATED EITHER HAVE BEEN SATISFIED OR SELLER DEMONSTRATES THAT THE SAME WOULD HAVE BEEN SATISFIED BUT FOR PURCHASER’S DEFAULT, SELLER SHALL BE ENTITLED TO RETAIN THE DEPOSIT AS SELLER’S LIQUIDATED DAMAGES AND
SUCH AMOUNT SHALL, SUBJECT TO THE 

  
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PROCEDURES SET FORTH IN SECTION 13, PROMPTLY BE PAID TO SELLER BY ESCROW AGENT AND NEITHER PARTY SHALL HAVE ANY FURTHER OBLIGATIONS HEREUNDER TO THE OTHER OR ANY RIGHT TO ANY OTHER REMEDIES
AGAINST THE OTHER. SELLER HEREBY WAIVES ITS RIGHT TO COLLECT ALL OTHER DAMAGES, RIGHTS AND REMEDIES, AND AGREES THAT THE FOREGOING SHALL BE SELLER’S SOLE AND EXCLUSIVE REMEDY IN THE EVENT OF ANY DEFAULT BY PURCHASER HEREUNDER. THE PARTIES AGREE
THAT IT WOULD BE EXTREMELY IMPRACTICABLE AND DIFFICULT TO ASCERTAIN THE ACTUAL DAMAGES SUFFERED BY SELLER AS A RESULT OF PURCHASER’S DEFAULT HEREUNDER, AND THAT UNDER THE CIRCUMSTANCES EXISTING AS OF THE EXECUTION DATE, THE LIQUIDATED DAMAGES
PROVIDED FOR IN THIS SECTION REPRESENT A REASONABLE ESTIMATE OF THE DAMAGES WHICH SELLER WILL INCUR AS A RESULT OF SUCH DEFAULT, PROVIDED, HOWEVER, THAT THIS PROVISION SHALL NOT WAIVE OR AFFECT SELLER’S RIGHTS AND PURCHASER’S INDEMNITY
OBLIGATIONS UNDER SECTIONs 4.1(a) OR 11.7 OF THIS AGREEMENT. 
 10.3 Seller’s Default. In the event the Closing and
the transaction contemplated hereby is not consummated as a result of Seller’s default hereunder, Purchaser may, at its election and as its sole and exclusive remedy at law or in equity, either (a) terminate this Agreement by giving
written notice to Seller, in which case the Deposit shall, subject to the procedures set forth in Section 13, promptly be returned to Purchaser by Escrow Agent, and Seller shall pay Purchaser on demand an amount equal to Purchaser’s
out-of-pocket costs and expenses for Purchaser’s diligence, entering into this Agreement, undertaking efforts to close and matters relating to all of the foregoing, not to exceed $300,000 in the aggregate; or (b) sue for specific
performance of this Agreement and file a lis pendens in connection therewith, provided that (i) all conditions to Seller’s obligation to consummate the transactions herein contemplated shall have been satisfied or Purchaser
demonstrates that the same would have been satisfied but for Seller’s default and (ii) Purchaser shall have commenced such suit within sixty (60) days following the later of the Closing Date and the date on which the period for
Seller’s cure has lapsed in accordance with clause (x) of this Section 10.3. Purchaser hereby waives its right to collect all other damages, rights and remedies, and agrees that the foregoing shall be Purchaser’s sole and
exclusive remedy in the event of any default by Seller hereunder, provided, however, the foregoing waiver in this sentence shall not apply in the event Seller has defaulted in its obligation to transfer the Real Property to Purchaser and Purchaser
is unable to obtain specific performance because Seller has transferred the Real Property to a third party that is not an Affiliate of Purchaser. Seller shall not be considered to be in default for purposes of this Section 10.3 (x) unless
Seller has failed to cure such default for a period of thirty (30) days after written notice thereof from Purchaser; provided that if such failure cannot be cured with reasonable diligence within such thirty (30) day period, then such
thirty (30) day period shall be extended for an additional sixty (60) days and (y) by reason of Seller’s failure to comply with any deliveries or conditions to Closing where such deliveries or conditions require the performance
by third parties. The terms and provisions of this Section 10.3 shall not waive or affect Purchaser’s rights and Seller’s indemnity obligations under other sections of this Agreement. 

10.4 Break Up Fee. Notwithstanding anything to the contrary in this Agreement, if: (a) prior to Closing, or prior to or
during the exercise of any remedy afforded to Purchaser hereunder Seller files a voluntary petition or has a petition filed against it under Chapter 7 or Chapter 11 of Title 11 of the United States Code, and (b) Purchaser is prevented by the
Bankruptcy Court overseeing the estate from consummating the purchase of the Property for the Purchase Price contemplated in Section 2 of this Agreement prior to the date that is one hundred twenty (120) days following the scheduled
Closing Date, then Seller shall pay to Purchaser a fee (the “Break Up Fee”) on demand in the amount of Twenty Million and No/100 Dollars ($20,000,000). 
 10.5 Survival. The provisions of this Section 10 shall survive (i) the Closing and shall not be deemed merged into any instrument of conveyance delivered at the Closing or
(ii) earlier termination of this Agreement. 
 11. Employment and Employee Benefit Matters. 

11.1 Bargaining Unit Employees. Seller shall assign and Purchaser shall assume, and cause its hotel manager, if any, to assume,
the Union Contract in accordance with its terms. Seller shall deliver, as and when required under the Union Contract, any notices required thereunder in connection with the transactions contemplated hereby (and shall concurrently provide a copy of
such notices to Purchaser). Seller shall retain all liabilities and 

  
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obligations (a) related to any Bargaining Unit Employees incurred in connection with their employment with Seller or with any management company retained to provide services at the Property,
including, but not limited to, all severance and related costs incurred in connection with the termination of a Bargaining Unit Employee’s employment with the Seller or with any management company retained to provide services at the Property,
and (b) arising or accruing under the Union Contract and the Union Benefit Plans or any other agreement or predecessor agreement or plan with any labor union or labor organization arising on or prior to the Closing Date. Seller shall make
available to Purchaser, for interview by Purchaser, all Bargaining Unit Employees (to the extent permitted under the Union Contract) and Non-Bargaining Unit Employees at the Property. In accordance with Article 59 of the Union Contract, Purchaser
agrees to retain all current bargaining unit employees subject to the terms of the Union Contract and applicable law. Seller shall be responsible for amounts and benefits payable or accrued under the Union Contract as of the Closing Date, including,
but not limited to, any accrued but unpaid wages, vacation or other accrued compensation, benefits or contributions (such liability to survive the Closing); provided, however, that Seller receives an invoice for such amounts no later than six
(6) months after the Closing, or in the case of amounts unknown as of that time, as soon thereafter as reasonably practicable under the applicable circumstances. For purposes of this Agreement, the “Union Contract” shall mean
the collective bargaining agreement with respect to the Hotel-Related Units, as more particularly described in the Inspection Agreement. “Bargaining Unit Employees” shall mean all employees of Seller, or any management company
retained to provide services at the Property, who work at the Hotel-Related Units and are covered by the Union Contract. “Union Benefit Plans” shall mean all Employee Benefit Plans required to be contributed to as set forth in the
Union Contract, except for any 401(k) plan, and, including, without limitation, all Multiemployer Plans. Seller also agrees to comply with its obligations under any collective bargaining agreement or applicable labor law with respect to the
transaction contemplated by this Agreement, including, but not limited to, any applicable duty to bargain with or requirement of notification to any union regarding this sale. 
 11.2 Non-Bargaining Unit Employees. 
 (a) At least ten
(10) days prior to the Closing, Purchaser or a designee of Purchaser shall make a written offer of employment to such number of Non-Bargaining Unit Employees as will avoid triggering liability under the Worker Adjustment and Retraining
Notification Act, or any similar state or local law (the “WARN Act”) (on such terms as Purchaser determines in its sole and absolute discretion, provided that such offers do not trigger liability under the WARN Act), all such offers
to be effective upon Closing; provided, however, that all Non-Bargaining Unit Employees who, prior to Closing, accept Purchaser’s or its designee’s offer of employment (“Transferred Employees”) will be at-will
unless otherwise specified in a written agreement signed by Purchaser or such designee in its sole and absolute discretion. For purposes of this Agreement, “Non-Bargaining Unit Employees” shall mean all employees of Seller or
Seller’s Affiliates or any management company retained to provide services at the Property who work at the Hotel Unit and are not covered by the Union Contract. Except as hereinafter provided in this Section 11.2, Seller shall be solely
responsible for all liabilities related to any Non-Bargaining Unit Employees, who are not Transferred Employees, incurred on or prior to the Closing in connection with their employment at the Property, including, but not limited to, all severance
and related costs and all amounts and benefits accrued with respect to the Transferred Employees as of the Closing Date, including, but not limited to, any accrued but unpaid wages, vacation, sick days, personal time off or other accrued
compensation or benefits (such liability to survive the Closing). As of the Closing, and to the extent Purchaser receives a credit therefor, Purchaser will assume and discharge any obligation with respect to the accrued but unused vacation of
Transferred Employees. Purchaser shall be solely responsible for any and all obligations incurred with respect to Transferred Employees after the Closing. 
 (b) Seller shall be responsible for perpetuating the group health plan continuation coverage pursuant to Code section 4980B and ERISA sections 601 through 609 for all employees of Seller or Seller’s
Affiliates, or any management company retained to provide services at the Property who work at the Hotel Unit, and their eligible spouses and dependents, including providing all required notices with respect to any “qualifying event”
(within the meaning of Code section 4980B) occurring in connection with this transaction or on or before the Closing Date. Seller shall indemnify and hold Purchaser, its designee, Purchaser’s Affiliates, the Purchaser Parties and any ERISA
Affiliate of Purchaser or its designee harmless for any liability Purchaser, its designee, Purchaser’s Affiliates, the Purchaser Parties or any ERISA Affiliate of Purchaser or its designee incurs at any time on or after the Closing Date under
the provisions of 

  
 32 

 
Code section 4980B or ERISA sections 601 through 609 with respect to providing COBRA notices or group health plan coverage to any such employees, or a dependent or spouse of any such employee,
who had or has a “qualifying event” (within the meaning of Code section 4980B) in connection with this transaction or on or before the Closing Date. 
 11.3 WARN Act. Prior to the Closing Date, Seller and its Affiliates shall refrain from engaging in any “mass layoff” or “plant closing,” as defined in the WARN Act, of employees
working at the Hotel Unit. Purchaser agrees that Purchaser shall be solely liable and responsible for any and all damages which may be claimed or be payable by reason of, or arising out of, or resulting from the application of the WARN Act in
connection with the termination of any employees after the Closing or the termination of any employees by Seller pursuant to Purchaser’s request. 
 11.4 Indemnification. 
 (a) Purchaser agrees to indemnify,
defend and hold Seller, Seller’s Affiliates, and the Seller Parties and any Person that, together with such party, would be treated as a single employer under Section 414 of the Code or Section 4001 of ERISA and the regulations
thereunder (“ERISA Affiliate”) harmless from and against any and all damages which any of them may sustain by reason of, or arising out of, or resulting from Purchaser’s failure to discharge any of the obligations and liabilities of
Purchaser under Sections 11.1, 11.2, 11.3, 11.4, 11.5, 11.6 and 11.7 of this Agreement. 
 (b) Seller agrees to
indemnify, defend and hold Purchaser, Purchaser’s Affiliates, the Purchaser Parties and any ERISA Affiliate harmless from and against any and all damages which any of them may sustain by reason of, or arising out of, or resulting from
Seller’s failure to discharge any of the obligations and liabilities of Seller under Sections 11.1, 11.2, 11.3, 11.4, 11.5, 11.6 and 11.7 of this Agreement. 
 11.5 Sale of Assets – ERISA. 
 (a) Upon the Closing,
Purchaser, an Affiliate of Purchaser, Purchaser’s designated management company or other designee shall during the Surety Period (defined below) make contributions to each and every Union Benefit Plan that is a pension plan (“Union
Pension Plan”) with respect to the operations of the Hotel-Related Units for substantially the same number of contribution base units for which Seller has an obligation to contribute with respect to each such Union Pension Plan immediately
prior to the Closing; provided, however, such undertaking shall not render Purchaser liable for any contributions to any Union Benefit Plan or Union Pension Plan arising or relating to the period of time prior to Closing. Purchaser agrees to
cooperate with Seller to comply with Section 4204 of ERISA, including, without limitation, to either (i) provide to the Union Pension Plan, for a period (the “Surety Period”) of five consecutive plan years commencing with
the first plan year beginning after the Closing Date, either a bond issued by a surety company that is an acceptable surety for purposes of Section 412 of ERISA (with Purchaser to be the sole obligor thereunder) or an amount held in escrow
(such bond or escrow, a “Surety Instrument”) by a bank or similar financial institution satisfactory to each Union Pension Plan in an amount equal to the greater of (A) the average annual contribution that Seller was required
to make under the Multiemployer Plan with respect to the operations of the Hotel-Related Units for the three plan years immediately preceding the plan year in which the Closing Date occurs, or (B) the annual contribution that Seller was
required to make under the Union Pension Plan with respect to the operations of the Hotel-Related Units for the last plan year immediately preceding the plan year in which the Closing Date occurs; or (ii) timely make a sufficient request for a
variance from the bond or escrow requirement of ERISA Section 4204(a)(I)(B) in accordance with the regulations under ERISA. If Purchaser requests a variance in accordance with this Section and the request is denied, Purchaser shall provide the
bond or amount in escrow in accordance with Section 11.5(a)(i) within the time limit necessary to satisfy Section 4204 of ERISA. The full cost of such Surety Instrument shall be borne by Purchaser and shall be in addition to all amounts
due Seller under this Agreement. Unless waived by the Union Pension Plan sponsor, Seller recognizes its secondary liability to the Union Benefit Plan for withdrawal liability it might have incurred but for application of this Agreement and
Section 4204 of ERISA in the event Purchaser should withdraw from the Union Benefit Plan or fails to make any contribution when due to the Union 

  
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Benefit Plan. Purchaser and Seller shall cooperate in taking such steps and executing such documents as are necessary to carry out the provisions of this Section 11.5 , or to otherwise
qualify the instant sale under the provisions of Section 4204 of ERISA so that a complete or partial withdrawal within the meaning of Section 4201 of ERISA shall not thereby occur. Purchaser shall notify Seller of any event which might
cause Seller to have any obligation to the Union Benefit Plan or Purchaser described in this Section 11.5 and, in addition, Purchaser shall timely notify and deliver to Seller all documentation relating to any claim of withdrawal liability (but
in no event shall Purchaser deliver to Seller any Notice and Demand for Payment described in Section 4219 of ERISA later than thirty (30) days after its receipt by Purchaser) and Purchaser shall consult with Seller and afford Seller an
opportunity to assert defenses to any such claims for withdrawal liabilities. Seller reserves the right to pay any claim for withdrawal liability in full and to collect thereafter from Purchaser any of the withdrawal liability that is attributable
to Purchaser on account of Purchaser’s participation in the Union Benefit Plan after the Closing Date. If, at any time a bond is required for any of the Union Pension Plans pursuant to Section 4204(a)(3) of ERISA, Seller at Seller’s
sole cost and expense shall post such bond in an amount and in a form which complies with Section 4204(a)(3) or obtain a variance from such bonding requirement from the applicable Union Pension Plan or the Pension Benefit Guaranty Corporation.

 (b) Upon the Closing, Purchaser shall adopt and assume all of Seller’s obligations under (including,
without limitation, the obligation to make contributions to) each and every Union Benefit Plan that is a health or welfare plan (“Union Health Plan”). Purchaser agrees to make contributions to each Union Health Plan with respect to
the operations of the Real Property for the amounts set forth in the Union Contract. 
 (c) This
Section 11.5 shall be rendered null and void and of no further force and effect whatsoever if the transaction contemplated by this Agreement the sale of the Property would not constitute a withdrawal under the 1980 Multiemployer Pension Benefit
Act Amendments of ERISA regardless of the above provisions which reference, and are intended to comply with, Section 4204 of ERISA, or Section 4204 of ERISA is otherwise inapplicable to the transactions contemplated by this Agreement.

 11.6 Cooperation. Purchaser and Seller agree to cooperate reasonably with each other to the extent legally permissible
in the defense of any claims brought by or on behalf of employees or former employees against Seller or Purchaser. Such cooperation shall include but not be limited to, providing: (i) workers compensation claims processing; (ii) access to
and copying of personnel and I-9 records to the extent legally permissible; and (iii) for the availability of employees for such matters as interviews and depositions. 
 11.7 Release of Employee Personnel Records. No later than fifteen (15) days prior to Closing, Purchaser or an Affiliate of Purchaser shall identify to Seller, in writing, the employee
personnel records that Purchaser or its Affiliate intends to access, copy, or obtain from Seller. Subject to applicable law, Seller shall permit Purchaser or its Affiliate to access or copy, or shall transfer to Purchaser or its Affiliate, as
applicable, the employee personnel records so identified by Purchaser, or its Affiliate in a manner so as to preserve the confidentiality of such records. Purchaser and its Affiliates shall maintain the privacy of such records in accordance with
applicable laws. Notwithstanding anything to the contrary contained in this Agreement, Purchaser agrees to indemnify, defend and hold Seller, Seller’s Affiliates and the Seller Parties harmless from and against any and all damages, which Seller
may sustain at any time relating to Purchaser’s use of such records in violation of applicable law, other than Seller’s permitting access to or copying of any such employee personnel record by Purchaser. The provisions of this
Section 11.6 shall survive (i) the Closing and shall not be deemed merged into any instrument of conveyance delivered at the Closing or (ii) the termination of this Agreement. 

11.8 Third Party Rights. Nothing in this Article XI shall create any third-party beneficiary rights for the benefit of any
Bargaining Unit Employees or Non-Bargaining Unit Employees. 
 11.9 Survival. This Article XI shall survive the Closing
and shall not be deemed merged into any instrument of conveyance delivered at the Closing. 

  
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 12. Miscellaneous. 

12.1 Entire Agreement. This Agreement and the Inspection Agreement constitute the entire agreement between the parties hereto with
respect to the transactions contemplated herein, and this Agreement and the Inspection Agreement supersede all prior discussions, understandings or agreements between the parties or their respective Affiliates, each of which remains in full force
and effect, shall survive the Closing Date and shall not be deemed merged into any instrument of conveyance delivered at the Closing. All Exhibits and Schedules attached hereto are a part of this Agreement and are incorporated herein by reference.

 12.2 Binding On Successors and Assigns. Subject to Section 12.3, this Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns and designees. 
 12.3 Assignment by
Purchaser. Upon notice to Seller at least three (3) Business Days prior to the Closing Date, Purchaser may assign its rights under this Agreement without Seller’s consent to any Affiliate of Purchaser, but such Affiliate shall make no
further assignment of this Agreement without Seller’s prior written consent, and such Affiliate shall expressly assume all obligations of Purchaser under this Agreement. Purchaser shall provide a copy of the instrument effecting such assignment
to Seller. Notwithstanding any such assignment of this Agreement by Purchaser, Purchaser shall remain jointly and severally liable under the terms of this Agreement. As used in this Agreement, (i) “Affiliate” means, with
respect to a Person, any entity controlled by, controlling, or under common control with such Person, and the various uses of the word “control” mean the ability to direct the decisions or actions of the entity in question and
(ii) “Person” means an individual, partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture or other entity of whatever nature. 

12.4 Waiver. The excuse or waiver of the performance by a party of any obligation of the other party under this Agreement shall
only be effective if evidenced by a written statement signed by the party so excusing or waiving. No delay in exercising any right or remedy shall constitute a waiver thereof, and no waiver by Seller or Purchaser of the breach of any covenant of
this Agreement shall be construed as a waiver of any preceding or succeeding breach of the same or any other covenant or condition of this Agreement. 
 12.5 Governing Law; Submission to Jurisdiction. 
 (a) This
Agreement shall be governed by and construed under the internal laws of the State of New York, without regard to the principles of conflicts of law. 
 (b) The parties hereto acknowledge and agree that all disputes arising, directly or indirectly, out of or relating to this Agreement, and all actions to enforce this Agreement, shall be dealt with and
adjudicated only in the state courts of the State of New York sitting in the County of New York or the Federal courts sitting in the County of New York, State of New York. The parties hereto hereby expressly and irrevocably submit to the
jurisdiction of such courts in any suit, action or proceeding arising, directly or indirectly, out of or relating to this Agreement. To the extent permitted under the applicable law, this consent to personal jurisdiction shall be self-operative and
no further instrument or action, other than service of process in one of the manners specified in this Agreement, or as otherwise permitted by law, shall be necessary in order to confer jurisdiction upon the parties hereto in any such court.

 (c) Provided that service of process is effected upon a party in one of the manners hereafter specified in
this Agreement or as otherwise permitted by law, that party irrevocably waives, to the fullest extent permitted by law, and agrees not to assert, by way of motion, as a defense or otherwise, (i) any objection which it may have or may hereafter
have to the laying of the venue of any such suit, action or proceeding brought in such a court as is mentioned in Section 12.5(b), (ii) any claim that any such suit, action or proceeding brought in such a court has been brought in an
inconvenient forum, or (iii) any claim that it is not personally subject to the jurisdiction of the above-named courts. Provided that service of process is effected upon a party in one of the manners specified in this Agreement or as otherwise
permitted by law, that party agrees that a final non-appealable judgment of any such court of competent jurisdiction shall be conclusive and binding upon that party and may, so far as it permitted under the applicable law, be enforced in the courts
of any state or any Federal court and in any other courts to the 
  
  

  
 35 

 
jurisdiction of which that party is subject, including, without intending any limitation as to that party, the courts of the State of New York by a suit upon such judgment and that party will not
assert any defense, counterclaim, or set off in any such suit upon such judgment. 
 (d) The provisions of
Sections 5-1401 and 5-1402 of the New York General Obligations Law are deemed incorporated into this Agreement. 
 (e) The parties hereto agree to execute, deliver and file all such further instruments as may be necessary under the laws of the State of New York, in order to make effective the consent of the parties
hereto to jurisdiction of the courts of the State of New York sitting in the County of New York or the Federal courts sitting in the County of New York, State of New York. 

(f) Provided that service is made in accordance with this Section or otherwise as permitted by law, each of Purchaser and
Seller irrevocably waives, to the fullest extent permitted by law, all claim of error by reason of any such service and agrees that such service (a) shall be deemed in every respect effective service of process upon Purchaser and Seller in any
such suit, action or proceeding and (b) shall, to the fullest extent permitted by law, be taken and held to be valid personal service upon and personal delivery to Purchaser and Seller. 

(g) Nothing in this Agreement shall affect the right of the parties hereto to serve process in any manner permitted by
law. 
 12.6 Counterparts. This Agreement may be executed in any number of counterparts, all of which taken together shall
constitute one and the same instrument and any of the parties hereto may execute this Amendment by signing any such counterpart. Delivery of an executed signature page of this Agreement by facsimile or email transmission shall be effective as manual
delivery of an executed counterpart hereof. 
 12.7 Notices. All notices, demands and other communications required or
permitted hereunder shall be in writing, personally delivered or delivered by Federal Express or another nationally recognized overnight commercial courier against receipt, or sent by facsimile providing that a confirming copy is simultaneously sent
by Federal Express or other nationally recognized overnight commercial courier: 
 if to Seller at: 

DIG EH Hotel LLC 

c/o Silverpeak Real Estate Partners 
 1330 Avenue of the Americas 
 Suite 1200 

New York, New York 10019 
 Attention: Anthony Juliano 
 Facsimile: (212) 716-2065 

with a copy to: 

Morrison & Foerster LLP 
 1290 Avenue of the Americas 
 New York, New York 10104 

Attention: Jeffrey J. Temple, Esq. 
 Facsimile: (212) 468-7900 
 if to Purchaser at: 

c/o Strategic Hotels & Resorts, Inc. 
 200 West Madison Street 
 Suite 1700 

Chicago, Illinois 60606 

  
 36 

 Attention: General Counsel 

Facsimile: (312) 658-5794 
 and to: 
 Perkins Coie LLP 

131 S. Dearborn Street 
 Suite 1700 
 Chicago, Illinois 60603-5559 

Attention: Phillip Gordon 
 Facsimile: (312) 324-9600 
 if to Escrow Agent at: 

First American Title Insurance Company 
 30 North LaSalle Street 
 Suite 2700 

Chicago, Illinois 60602 
 Attention: James W. McIntosh 
 Facsimile: (312) 553-0480 

Such notice shall be deemed given on the date of receipt by the addressee or the date receipt would have been effectuated if delivery
were not refused. Each party may designate a new or additional address by written notice to the other in accordance with this Section 12.7. The inability to deliver a notice because of a changed address of which proper notice was not given
shall be deemed a refusal of such notice. 
 12.8 Attorneys’ Fees. In the event of a judicial or administrative
proceeding or action by Seller against Purchaser or Purchaser against Seller with respect to the interpretation or enforcement of this Agreement, the prevailing party shall be entitled to recover reasonable costs and expenses including, without
limitation, attorneys’ fees and expenses (but only to the extent reasonable), whether at the investigative, pretrial, trial or appellate level. The prevailing party shall be determined by the court based upon an assessment of which party’s
major arguments or position prevailed. The provisions of this Section 12.8 shall survive (i) the Closing, and shall not be deemed merged into any instrument of conveyance delivered at the Closing or (ii) earlier termination of this
Agreement. 
 12.9 IRS Real Estate Sales Reporting. Purchaser, Seller and Escrow Agent hereby agree and acknowledge that
Escrow Agent shall act as “the real estate reporting person” with respect to the transaction which is the subject of this Agreement pursuant to the Code Section 6045(e) and shall prepare, if not prepared by Seller or Purchaser, and
file all informational returns, including without limitation, IRS Form 1099-S, and shall otherwise comply with the provisions of the Code Section 6045(e). The Escrow Agent shall also remit to the proper authority all state and local
transfer taxes required in connection with the transaction which is the subject of this Agreement. Purchaser and Seller shall reasonably cooperate in connection with such filings. 

12.10 Time Periods. In the event the time for performance of any obligation hereunder expires on a day that is not a Business Day,
the time for performance shall be extended to the next Business Day. 
 12.11 Modification of Agreement. No modification
of this Agreement shall be deemed effective unless in writing and signed by the party to be charged. Without limiting the foregoing, the written consent of Escrow Agent shall not be necessary to change any provision of this Agreement that does not
affect the responsibilities of Escrow Agent. 
 12.12 Further Instruments. Each party, promptly upon the request of the
other, shall execute and have acknowledged and delivered to the other or to Escrow Agent, as may be appropriate, any and all further instruments reasonably requested or appropriate to evidence or give effect to the provisions of, and the
transactions described in, this Agreement and which are consistent with the provisions of this Agreement, and shall otherwise cooperate with the other to more fully assure to the other the performances contemplated by this Agreement. This
Section 12.12 shall survive closing. 

  
 37 

 12.13 Descriptive Headings. The descriptive headings of the paragraphs of this
Agreement are inserted for convenience only and shall not control or affect the meaning or construction of any provisions of this Agreement. 
 12.14 Time of the Essence. Time is of the essence with respect to each of the provisions of this Agreement. 
 12.15 Business Day. As used herein, the term “Business Day” means any day other than Saturday, Sunday and any day which is a legal holiday in the State of New York. 

12.16 Construction of Agreement. This Agreement shall not be construed more strictly against one party than against the other
merely by virtue of the fact that it may have been prepared primarily by counsel for one of the parties, it being recognized that both Purchaser, on the one hand, and Seller, on the other hand, have contributed substantially and materially to the
preparation of this Agreement. 
 12.17 JURY TRIAL WAIVER. THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY ACTION,
PROCEEDING OR COUNTERCLAIM (WHETHER IN CONTRACT OR TORT) BROUGHT BY EITHER PURCHASER, ON THE ONE HAND, OR SELLER, ON THE OTHER HAND, AGAINST THE OTHER IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT. 

12.18 Survival. 
 (a) The terms and conditions of this Article 12 shall survive the Closing Date or termination of this Agreement. Any other obligations or liabilities of Seller or Purchaser hereunder shall survive the
Closing Date or termination of this Agreement only to the extent expressly provided herein. 
 (b) Unless
expressly stated otherwise, all terms and provisions contained herein shall not survive Closing and instead shall be deemed merged into the deed delivered at Closing. 
 12.19 Submission not an Offer or Option. The submission of this Agreement or a summary of some or all of its provisions for examination or negotiation by Purchaser or Seller does not constitute an
offer by Seller or Purchaser to enter into an agreement to sell or purchase any Property, and neither party shall be bound to the other with respect to any such purchase and sale until a definitive agreement satisfactory to Purchaser and Seller in
their sole discretion is executed and delivered by each of Seller and Purchaser. 
 12.20 Disclosure. Each of Seller and
Purchaser hereby covenants for itself and its Affiliates that prior to the Closing it shall not issue any press release or public statement with respect to this Agreement or the transactions contemplated by this Agreement without the prior consent
of Seller and Purchaser (which consent shall not be unreasonably delayed or withheld); provided, however, that except as otherwise provided below no such announcement shall (i) be made unless the Closing has occurred or
(ii) make any reference to the Purchase Price or other material terms of this Agreement except to the extent that the same are a matter of public record or available to the public generally. Notwithstanding anything to the contrary in the
foregoing, Seller acknowledges that Purchaser is required by the rules and regulations of the Securities and Exchange Commission and the New York Stock Exchange to disclose the terms of this Agreement and Seller consents to such disclosure.
Otherwise, if Seller or Purchaser is required by law to issue such a press release or public statement, such party shall, at least two (2) Business Days prior to the issuance of the same, deliver a copy of the proposed release or statement to
the other party for its review. The parties shall cooperate in good faith at and after the Closing to issue coordinated or joint press statements concerning the transaction, but nothing shall prevent either party from issuing its own press release.

  
 38 

 12.21 Guest Baggage and Safe Deposit Boxes. 

(a) Property of Guests. All baggage, parcels of property of guests or tenants being retained by Seller as security
for unpaid accounts receivable shall be removed from the Property prior to the Closing (“Retained Baggage”). All other baggage, parcels or property checked or left in the care of Seller by current guests or tenants at Closing, or by
those formerly staying at the Property, or others, shall be sealed and listed in an inventory prepared jointly by representatives of Seller and Purchaser on the date of the Closing and initialed and exchanged by such representatives. Possession and
control of all such other baggage, parcels or property listed on such inventory shall be delivered to Purchaser at Closing and Purchaser shall be responsible from and after the Closing for the liability of all items listed in such inventory, but
only in the condition actually delivered by Seller. Seller shall remain liable for any acts or omissions with respect to such baggage which occurred prior to the date of Closing as well as for claimed omissions from said inventory, and Seller hereby
agrees to indemnify and hold Purchaser harmless from and against any liability therefor. 
 (b) Notice to
Persons With Safe Deposit Boxes. On the Closing Date, Seller shall give written notices (“Seller Verification Notices”) to guests, tenants, and other persons who have safe deposit boxes at the Hotel-Related Units or who have
deposited items in the house safe at the Hotel-Related Units (the “Depositors”), if any, advising them of the sale of the Property to Purchaser and requesting, within 48 hours, verification of the contents of in their safe deposit
boxes and/or the house safe and either (i) removal of such contents, or (ii) if such Depositors desire to have the continued use of the safe deposit boxes and/or the house safe, the execution of a new agreement with Purchaser for such
continued use. Copies of Seller’s Verification Notices shall be given to Purchaser. During said 48-hour period, each safe deposit box and/or the house safe shall be opened and the items therein recorded only in the presence of representatives
of both Seller and Purchaser. If the Depositors desire to continue to use a safe deposit box and/or the house safe, Purchaser shall make arrangements for such continued use. The contents of all safe deposit boxes and/or the house safe of Depositors
not responding to Seller’s Verification Notices shall be opened promptly after the expiration of the 48-hour period, but only in the presence of both Seller and Purchaser. The contents of all boxes so opened shall be listed in an inventory at
the time such safe deposit boxes or house safe are opened, each such list shall be signed by the representatives of Seller and Purchaser, the keys and/or combinations to the boxes shall be delivered to Purchaser, and the boxes shall then be
relocked, sealed and left in the possession of Purchaser. Seller hereby agrees to indemnify and hold Purchaser harmless from and against any liability based on damage occurring prior to the date of Closing which is verified and recorded on the date
of Closing. 
 13. General Escrow Provisions. The obligations and rights of Escrow Agent under this Agreement shall be
subject to the following terms and conditions: 
 (a) The duties and obligations of Escrow Agent shall be
determined solely by the express provisions of this Agreement and no implied duties or obligations shall be implied against Escrow Agent. Further, Escrow Agent shall be under no obligation to refer to any other document between or among Purchaser
and Seller referred to in or related to this Agreement, unless Escrow Agent is provided with a copy of such document and consents thereto in writing. 
 (b) Escrow Agent shall not be liable to anyone by reason of any error of judgment, or for any act done or step taken or omitted by Escrow Agent in good faith, or for any mistake of fact or law, or for
anything which Escrow Agent may do or refrain from doing in connection herewith, unless caused by or arising out of Escrow Agent’s actual and intentional misconduct, fraud or gross negligence. 

(c) Escrow Agent shall be entitled to rely, and shall be protected in acting in reliance, upon any writing furnished to
Escrow Agent by either Purchaser or Seller and shall be entitled to treat as genuine, and as the document it purports to be, any letter, paper or other document furnished to Escrow Agent. Escrow Agent may rely on any affidavit of either Purchaser or
Seller or any other person as to the existence of any facts stated therein to be known by the affiant. 

  
 39 

 (d) If Seller shall become entitled to retain or receive the Deposit or
other amount paid under this Agreement, Escrow Agent shall pay the same to Seller together with all interest earned thereon and if Purchaser shall become entitled to a return of the Deposit or other amount paid under this Agreement, Escrow Agent
shall pay the same to Purchaser together with all interest earned thereon; provided, however, that no disbursement pursuant to this subsection shall be made by Escrow Agent until the fifth (5th) Business Day following the receipt or
deemed receipt of notice by Seller and Purchaser from Escrow Agent of its intention to so disburse, and disbursement made by Escrow Agent after the passage of such five (5) Business Day period shall relieve Escrow Agent from all liability in
connection with such disbursement unless such disbursement is proscribed by order of a court of competent jurisdiction or objected to in writing by Seller or Purchaser. If such disbursement is objected to in writing by Seller or Purchaser within
such five (5) Business Day period, then Escrow Agent shall not make such disbursement until unanimously instructed in writing by Purchaser and Seller, or is directed to make such disbursement by a court of competent jurisdiction.
Notwithstanding anything to contrary contained herein, the five (5) Business Day requirement referred to above in this Section 13(d) shall not apply to a disbursement of the Deposit at Closing. 

(e) In the event of any disagreement between Purchaser and Seller resulting in adverse claims and demands being made in
connection with or against the funds held in escrow, Escrow Agent shall refuse to comply with the claims or demands of either party until such disagreement is finally resolved (i) by a court of competent jurisdiction (in proceedings which
Escrow Agent or any other party may initiate, it being understood and agreed by Purchaser and Seller that Escrow Agent has authority (but not the obligation) to initiate such proceedings) (ii) by an arbitrator in the event that Purchaser and
Seller mutually and jointly determine to submit the dispute to arbitration pursuant to the rules of the American Arbitration Association, and in so doing Escrow Agent shall not be or become liable to a party or (iii) by written settlement
between Purchaser and Seller. 
 (f) Purchaser and Seller each agree to jointly and severally indemnify and hold
harmless Escrow Agent against any and all losses, liabilities, costs (including legal fees) and other expenses in any way incurred by Escrow Agent (except to the extent Escrow Agent willfully disregards any provision of this Agreement to which it is
bound or engages in fraudulent acts) in connection with or as a result of any disagreement between Purchaser and Seller under this Agreement or otherwise incurred by Escrow Agent in any way on account of its role as Escrow Agent, except that neither
Purchaser nor Seller shall have any obligation to pay Escrow Agent any fee for escrow services hereunder. 
 (g)
Escrow Agent in its sole discretion shall have the right to resign as the Escrow Agent under this Agreement, provided that it shall provide both Purchaser and Seller with at least thirty (30) days written notice of such resignation
pursuant to the notice provisions of Section 12.7. Upon any such resignation, Escrow Agent shall transfer the Deposit and any interest earned thereon to a successor Escrow Agent jointly approved by Purchaser and Seller, whereupon the original
Escrow Agent shall have no further obligation or liability whatsoever as Escrow Agent under this Agreement. 

(h) The Deposit shall be invested in a money market account or federally-insured savings account selected by Purchaser
and reasonably approved by Seller. The parties hereby acknowledge and agree that Federal Deposit Insurance for the Deposit, if any, is limited to a cumulative maximum amount of $250,000.00 for each individual depositor for all of the
depositor’s accounts at the same or related institution. The parties further hereby acknowledge and agree that certain banking instruments such as, but not limited to, repurchase agreements and letters of credit, are not covered at all by
Federal Deposit Insurance. The parties acknowledge and agree that Escrow Agent shall have no obligation or liability with respect to insuring the Deposit or with respect to the solvency of the depository institution, or otherwise with respect to the
appropriateness of the depository institution for purposes of the Deposit. Further, the parties understand that Escrow Agent assumes no responsibility for, nor will the parties hold the same liable for, any loss occurring which arises from the fact
that (x) the amount of the account or accounts contemplated hereby may cause the aggregate amount of any individual depositor’s account or accounts to exceed $250,000.00, (y) that this excess amount is not insured by the Federal
Deposit Insurance Corporation or (z) that Federal Deposit Insurance is not available on certain types of bank instruments. 

  
 40 

 (i) Escrow Agent may pay the Deposit into a court of competent jurisdiction
upon commencement by Escrow Agent of an interpleader action in such court. The reasonable out-of-pocket costs and attorneys’ fees of Escrow Agent for such interpleader action shall be paid by the losing party in such interpleader action.

 (j) The rights and immunities of Escrow Agent hereunder shall apply equally to its partners, of counsel,
associates, employees, Affiliates and agents. 
 (k) All of Escrow Agent’s obligations under this Agreement
other than those in Section 12.9 shall automatically terminate upon disbursing the Deposit as set forth above. 

[Remainder of page intentionally blank] 

  
 41 

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

			
	 SELLER:

	
	DIG EH HOTEL LLC, a Delaware limited liability company
		
	By:	 	 /s/ Gerard Hobby

		 	Name: Gerard Hobby
		 	Title: Director

 [signatures continue on following pages] 

 
			
	 PURCHASER:

	
	 SHR ESSEX HOUSE LLC, a Delaware limited liability

company

		
	By:	 	 /s/ Cory P. Warning

		 	Name: Cory P. Warning
		 	Title: Vice President

 [signatures continue on following page] 

 RECEIPT BY ESCROW AGENT 

This Agreement, fully executed by Seller and Purchaser, has been received by Escrow Agent this 13th day of August, 2012 and by its execution hereof, Escrow Agent hereby
covenants and agrees to be bound by the terms of this Agreement that are applicable to Escrow Agent in its role as escrow agent pursuant to Articles 2, 10, 12 and 13 of this Agreement. 

 

			
	ESCROW AGENT:
	
	FIRST AMERICAN TITLE INSURANCE COMPANY
		
	By:	 	 /s/ Deanna Wilkie

		 	 Name: Deanna Wilkie
 Title:
Escrow Officer

 [end of signatures] 

 JOINDER TO PURCHASE AND SALE AGREEMENT 

This Joinder to Purchase and Sale Agreement (this “Joinder”) is executed by the undersigned as of the 13th day of
August, 2012. 
 WHEREAS, the undersigned is affiliated with Seller and will benefit from Seller entering into the
Purchase and Sale Agreement to which this Joinder is attached (the “Agreement”); 
 WHEREAS, Purchaser
is not willing to enter into the Agreement with Seller unless the undersigned executes this Joinder to acknowledge its agreement to be jointly and severally liable with Seller for certain matters described below; and 

WHEREAS, the undersigned desires to induce Purchaser to enter into the Agreement with Seller. 

NOW THEREFORE, in consideration of the above recitals and for other good and valuable consideration, receipt and sufficient of
which are hereby acknowledged, the undersigned agrees as follows: 
 The undersigned hereby agrees unconditionally and
irrevocably to be held jointly and severally liable with Seller for Seller’s indemnity obligations as set forth in Section 6.2 of the Agreement (for the purposes of this Joinder, the “Obligations”), subject to and in
accordance with the terms of Section 6.2 of the Agreement. The undersigned’s liability (or that of its successor hereunder) for such obligations and damages shall be coterminous with the liability of Seller for such matters and shall
survive for so long as Seller’s liability therefor survives, as more particularly set forth in the Agreement. 
 In
connection with this Joinder, the undersigned hereby waives and agrees not to assert or take advantage of the following defenses: 
 1. Any defense that may arise by reason of the incapacity, lack of authority, death or disability of any person or entity, or revocation hereof by any person or entity, or the failure of Seller to file or
enforce a claim against the estate (either in administration, bankruptcy, or any other proceeding) of any other person or entity; 
 2. Diligence, presentment, notice of acceptance, notice of dishonor, notice of presentment, or demand for payment of or performance of the Obligations and other suretyship defenses generally; 

3. Protest and notice of dishonor or of default to the undersigned or to any other person or entity with respect to the performance of
the Obligations; 
 4. Any action required by any statute to be taken against Seller; 

5. The dissolution or termination of the existence of Seller; 
 6. The voluntary or involuntary liquidation, sale, or other disposition of all or substantially all of the assets of Seller; 
 7. The voluntary or involuntary receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, assignment, composition, or readjustment of, or any similar proceeding
affecting, Seller or any of Seller’s assets; 
 8. Until payment in full of the Obligations, any right of subrogation,
indemnity or reimbursement against Seller or any right to enforce any remedy which Purchaser may have against Seller; 
 9. Any
and all rights and defenses arising out of an election of remedies by Purchaser, even though that election of remedies might impair or destroy any right, if any, of the undersigned of subrogation, indemnity or reimbursement against Seller;

 10. Any defense based upon Seller’s failure to disclose to the undersigned any
information concerning Seller’s financial condition or any other circumstances bearing on Seller’s ability to pay all sums payable under or in respect of this Joinder; and 

11. Any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor
in any other respects more burdensome than that of a principal. 
 The undersigned’s liability under this Joinder is
primary, direct and unconditional and may be enforced in full or in part, from time to time, after nonpayment or nonperformance of any of the Obligations by Seller, in each case without requiring Purchaser to resort to any other person or entity,
including, without limitation, Seller, or any other right, remedy or collateral. 
 This Joinder constitutes a guaranty of
payment and performance and not of collection only. 
 This Joinder is a continuing, absolute and unconditional guaranty of the
Obligations, and liability hereunder shall in no way be affected or diminished by any renewal, extension, amendment or modification of the Agreement or any waiver of any of the provisions thereof. The undersigned agrees that any act which tolls any
statute of limitations applicable to the Agreement shall similarly operate to toll the statute of limitations applicable to the undersigned’s liability under the Joinder. 
 At all times during the twenty-four (24) consecutive month period following the date hereof, the undersigned shall maintain a Net Worth (defined below) in excess of $25,000,000.00. For the six
(6) consecutive month period immediately following the expiration of such twenty-four (24) month period, the undersigned shall maintain a Net Worth in excess of $10,000,000.00. 

The undersigned shall not, at any time during the thirty (30) consecutive month period immediately following the date hereof, enter
into or effectuate any transaction with any Affiliate which would reduce the Net Worth of the undersigned below the level required in the immediately preceding paragraph. 
 For the purposes of this Joinder, “Net Worth” shall mean, as of a given date, (i) the total assets of the undersigned as of such date less (ii) the undersigned’s total
liabilities as of such date, determined in accordance with GAAP. “GAAP” shall mean generally accepted accounting principles, consistently applied. Not later than forty-five (45) days following the end of each of the first three
calendar quarters, and ninety (90) days following the end of the fourth calendar quarter, the undersigned shall deliver financial statements to Purchaser confirming the undersigned’s compliance with the Net Worth requirements set forth
herein. Purchaser shall have the right to audit the financial statements of the undersigned to verify such compliance. Such audits may be conducted not more frequently than one (1) time each calendar quarter and shall be performed at
Purchaser’s sole cost and expense, unless the undersigned is found to be non compliant with such Net Worth requirements, in which event the undersigned shall be solely responsible for the cost of such audit. 

The undersigned shall pay to Purchaser on demand any and all expenses paid or incurred by Purchaser, including, without limitation,
attorneys’ fees and disbursements (but only to the extent reasonable), in connection with the enforcement of this Joinder but only if Purchaser is successful on its claim pursuant to which it is enforcing this Joinder. 

The undersigned represents and warrants that (i) it has full power and authority to execute and deliver this Joinder and to perform
all obligations required of it hereunder, (ii) the execution and delivery by the signer on behalf of the undersigned, and the performance by the undersigned of its obligations hereunder, have been duly and validly authorized by all necessary
action by the undersigned, and (iii) this Joinder constitutes the legal, valid and binding obligations of the undersigned, and is enforceable against the undersigned in accordance with its terms. 

This Joinder shall be binding upon and shall inure to the benefit of the successors and permitted assigns of the undersigned and
Purchaser. 

 THIS JOINDER SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT
TO ANY PRINCIPLES REGARDING CONFLICT OF LAWS. ANY LITIGATION OR OTHER COURT PROCEEDING WITH RESPECT TO ANY MATTER ARISING FROM OR IN CONNECTION WITH THIS JOINDER SHALL BE CONDUCTED IN THE NEW YORK STATE SUPREME COURT IN NEW YORK COUNTY OR THE UNITED
STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, IN THE STATE OF NEW YORK, AND THE UNDERSIGNED (AND PURCHASER, BY ACCEPTING THIS JOINDER) HEREBY SUBMITS TO JURISDICTION AND CONSENT TO VENUE IN SUCH COURTS, AND WAIVES ANY DEFENSE BASED ON
FORUM NON CONVENIENS. 
 THE UNDERSIGNED (AND PURCHASER, BY ACCEPTING THIS JOINDER) HEREBY WAIVES ITS RIGHT TO A TRIAL BY JURY
IN ANY LITIGATION OR OTHER COURT PROCEEDING WITH RESPECT TO ANY MATTER ARISING FROM OR IN CONNECTION WITH THIS JOINDER. 

[signature page follows] 

 
			
	LONGWING INCORPORATED, a Delaware corporation
		
	By:	 	 /s/ Fadel Al Ali

		 	Name: Fadel Al Ali
		 	Title: Director

 EXHIBIT 1.1(a) 

DESCRIPTION OF HOTEL UNIT 
 Title No. NCS-557963-CHI2 
 SCHEDULE “A” 

THE UNITS DESCRIBED IN SCHEDULE 1 ATTACHED HERETO, IN THE BUILDING KNOWN AS THE ESSEX HOUSE CONDOMINIUM AND BY THE STREET NUMBER 160 CENTRAL PARK SOUTH,
CITY, COUNTY AND STATE OF NEW YORK, WHICH ARE THE SAME UNITS AND UNIT NUMBERS FOR SUCH UNITS ACCORDING TO THE DECLARATION ESTABLISHING A PLAN FOR CONDOMINIUM OWNERSHIP OF SAID BUILDING AND THE LAND ON WHICH IT IS ERECTED (HEREINAFTER CALLED THE
“PROPERTY”) UNDER THE CONDOMINIUM ACT OF THE STATE OF NEW YORK (ARTICLE 9-B OF THE REAL PROPERTY LAW OF THE STATE OF NEW YORK), DATED 7/24/1974 AND RECORDED IN THE OFFICE OF THE REGISTER OF THE CITY OF NEW YORK, IN THE COUNTY OF NEW YORK,
ON 9/27/1974 IN REEL 325 PAGE 479 AND AMENDED BY 1ST SUPPLEMENTAL DECLARATION DATED 12/8/1975 RECORDED 2/5/1976 IN REEL 361 PAGE 1526, 2ND SUPPLEMENTAL DECLARATION DATED 12/6/1977 RECORDED 2/3/1978 IN REEL 427 PAGE 1455, 3RD SUPPLEMENTAL DECLARATION
DATED 12/18/1980 RECORDED 2/5/1981 IN REEL 553 PAGE 1758, 4TH SUPPLEMENTAL DECLARATION DATED 12/18/1980 RECORDED 2/5/1981 IN REEL 553 PAGE 1762, 5TH SUPPLEMENTAL DECLARATION DATED 6/12/1981 RECORDED 7/10/1981 IN REEL 573 PAGE 1461, 6TH SUPPLEMENTAL
DECLARATION DATED 9/3/1981 RECORDED 9/23/1981 IN REEL 584 PAGE 8, 7TH SUPPLEMENTAL DECLARATION DATED 11/9/1981 RECORDED 11/24/1981 IN REEL 592 PAGE 1861, 8TH SUPPLEMENTAL DECLARATION DATED 1/29/1982 RECORDED 2/8/1982 IN REEL 605 PAGE 910, 9TH
SUPPLEMENTAL DECLARATION DATED 4/19/1984 RECORDED 8/21/1984 IN REEL 825 PAGE 1228, 10TH SUPPLEMENTAL DECLARATION DATED 10/22/1984 RECORDED 11/15/1984 IN REEL 848 PAGE 201, 11TH SUPPLEMENTAL DECLARATION DATED 9/13/1985 RECORDED 10/30/1985 IN REEL 978
PAGE 825, 12TH SUPPLEMENTAL DECLARATION DATED 10/31/1985 RECORDED 10/31/1985 IN REEL 979 PAGE 1083 AND 13TH SUPPLEMENTAL DECLARATION DATED 12/28/94 AND RECORDED 1/13/95 IN REEL 2173 PAGE 2096, 14TH SUPPLEMENTAL DECLARATION DATED 3/31/95 RECORDED
7/14/95 IN REEL 2224 PAGE 1329, 15th SUPPLEMENTAL DECLARATION DATED 12/6/2002 RECORDED 2/25/2003 IN CRFN 2003000026521, 16TH SUPPLEMENTAL DECLARATION DATED 11/20/2006 RECORDED 1/5/2007 IN CRFN 2007000010782, 17TH SUPPLEMENTAL DECLARATION DATED
4/7/2009 RECORDED 6/3/2009 IN CRFN 2009000166673 AND CORRECTION TO 17TH SUPPLEMENTAL DECLARATION DATED 8/11/2009 RECORDED 8/19/2009 IN CRFN 2009000261899 (HEREINAFTER CALLED THE “DECLARATION”), AND DESIGNATED AS TAX LOTS (SEE SCHEDULE 1)
ON THE TAX MAP OF THE REAL PROPERTY ASSESSMENT DEPARTMENT OF THE CITY OF NEW YORK FOR THE BOROUGH OF MANHATTAN AND ON THE FLOOR PLANS OF THE BUILDING CERTIFIED BY EDWARD J. HURLEY, ON THE 15TH DAY OF JUNE, 1973 AND FILED IN THE OFFICE OF THE
REGISTER OF THE CITY OF NEW YORK, COUNTY OF NEW YORK, ON THE 27TH DAY OF SEPTEMBER, 1974 AS CONDOMINIUM PLAN NO. 11, WHICH PLANS WERE SUPPLEMENTED BY REVISED PLANS CERTIFIED TO BY HURLEY AND FARINELLA, ARCHITECTS, FILED IN THE OFFICE OF THE REGISTER
OF THE CITY OF NEW YORK, COUNTY OF NEW YORK ON THE 23RD DAY OF JANUARY, 1976 AND PLANS FILED IN THE CITY REGISTER’S OFFICE ON 10/30/1985 AS CONDOMINIUM PLAN NO. 11A THROUGH 11F AND PLANS FILED IN THE CITY REGISTER’S OFFICE ON 7/14/1995 AS
CONDOMINIUM PLAN NO. 11G AND AS SAID PLANS MAY HAVE BEEN FURTHER AMENDED AND SUPPLEMENTED. 
 TOGETHER WITH THE UNDIVIDED INTERESTS IN THE
COMMON ELEMENTS OF THE PROPERTY (HEREINAFTER CALLED THE “COMMON ELEMENTS”) APPURTENANT THERETO AS SHOWN ON SCHEDULE 1 ATTACHED HERETO. 
 THE LAND ON WHICH THE BUILDING IS LOCATED IS DESCRIBED AS FOLLOWS: 
 ALL THAT CERTAIN PLOT, PIECE
OR PARCEL OF LAND, SITUATE, LYING AND BEING IN THE BOROUGH OF MANHATTAN, COUNTY, CITY AND STATE OF NEW YORK, BOUNDED AND DESCRIBED AS FOLLOWS: 

BEGINNING AT A POINT ON THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH (FORMERLY KNOWN AS 59TH STREET), DISTANT 100 FEET EASTERLY FROM THE CORNER FORMED BY THE
INTERSECTION OF THE EASTERLY SIDE OF SEVENTH AVENUE WITH THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH; 
 RUNNING THENCE SOUTHERLY AND PARALLEL WITH
SEVENTH AVENUE, 200 FEET 10 INCHES TO THE NORTHERLY SIDE OF 58TH STREET; 
 THENCE EASTERLY, ALONG THE NORTHERLY SIDE OF 58TH STREET, 206 FEET 4
INCHES; 
 THENCE NORTHERLY AND AGAIN PARALLEL WITH SEVENTH AVENUE, 200 FEET 10 INCHES TO THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH; 

THENCE WESTERLY ALONG THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH, 206 FEET 4 INCHES TO THE POINT OR PLACE OF BEGINNING.

THE policy to be issued under this report will insure the title to such buildings and improvements erected on the premises, which by law
constitute real property. 
 FOR CONVEYANCING ONLY: TOGETHER with all the right, title and interest of the party of the first part, of in
and to the land lying in the street in front of and adjoining said premises. 
 Title No. NCS-557963-CHI2 

SCHEDULE 1 
  

									
	 Unit Number
	  	Tax Lot	 	  	Percentage of Common
Elements	 
	 Hotel Unit
	  	 	1001	  	  	 	49.67063	% 
	 Commercial Unit
	  	 	2001	  	  	 	11.51997	% 
	 2001
	  	 	1610	  	  	 	0.26391	% 
	 1720
	  	 	2025	  	  	 	0.27523	% 
	 1826
	  	 	2032	  	  	 	0.18117	% 
	 1910
	  	 	2035	  	  	 	0.06887	% 
	 1912
	  	 	2036	  	  	 	0.10312	% 
	 1915
	  	 	2037	  	  	 	0.11081	% 
	 26TR
	  	 	2038	  	  	 	0.12634	% 
	 3005
	  	 	2042	  	  	 	0.12108	% 
	 3214
	  	 	2043	  	  	 	0.08918	% 

  

 EXHIBIT 1.1(b) 

DESCRIPTION OF COMMERCIAL UNIT 
 Title No. NCS-557963-CHI2 
 SCHEDULE “A” 

THE UNITS DESCRIBED IN SCHEDULE 1 ATTACHED HERETO, IN THE BUILDING KNOWN AS THE ESSEX HOUSE CONDOMINIUM AND BY THE STREET NUMBER 160 CENTRAL PARK SOUTH,
CITY, COUNTY AND STATE OF NEW YORK, WHICH ARE THE SAME UNITS AND UNIT NUMBERS FOR SUCH UNITS ACCORDING TO THE DECLARATION ESTABLISHING A PLAN FOR CONDOMINIUM OWNERSHIP OF SAID BUILDING AND THE LAND ON WHICH IT IS ERECTED (HEREINAFTER CALLED THE
“PROPERTY”) UNDER THE CONDOMINIUM ACT OF THE STATE OF NEW YORK (ARTICLE 9-B OF THE REAL PROPERTY LAW OF THE STATE OF NEW YORK), DATED 7/24/1974 AND RECORDED IN THE OFFICE OF THE REGISTER OF THE CITY OF NEW YORK, IN THE COUNTY OF NEW YORK,
ON 9/27/1974 IN REEL 325 PAGE 479 AND AMENDED BY 1ST SUPPLEMENTAL DECLARATION DATED 12/8/1975 RECORDED 2/5/1976 IN REEL 361 PAGE 1526, 2ND SUPPLEMENTAL DECLARATION DATED 12/6/1977 RECORDED 2/3/1978 IN REEL 427 PAGE 1455, 3RD SUPPLEMENTAL DECLARATION
DATED 12/18/1980 RECORDED 2/5/1981 IN REEL 553 PAGE 1758, 4TH SUPPLEMENTAL DECLARATION DATED 12/18/1980 RECORDED 2/5/1981 IN REEL 553 PAGE 1762, 5TH SUPPLEMENTAL DECLARATION DATED 6/12/1981 RECORDED 7/10/1981 IN REEL 573 PAGE 1461, 6TH SUPPLEMENTAL
DECLARATION DATED 9/3/1981 RECORDED 9/23/1981 IN REEL 584 PAGE 8, 7TH SUPPLEMENTAL DECLARATION DATED 11/9/1981 RECORDED 11/24/1981 IN REEL 592 PAGE 1861, 8TH SUPPLEMENTAL DECLARATION DATED 1/29/1982 RECORDED 2/8/1982 IN REEL 605 PAGE 910, 9TH
SUPPLEMENTAL DECLARATION DATED 4/19/1984 RECORDED 8/21/1984 IN REEL 825 PAGE 1228, 10TH SUPPLEMENTAL DECLARATION DATED 10/22/1984 RECORDED 11/15/1984 IN REEL 848 PAGE 201, 11TH SUPPLEMENTAL DECLARATION DATED 9/13/1985 RECORDED 10/30/1985 IN REEL 978
PAGE 825, 12TH SUPPLEMENTAL DECLARATION DATED 10/31/1985 RECORDED 10/31/1985 IN REEL 979 PAGE 1083 AND 13TH SUPPLEMENTAL DECLARATION DATED 12/28/94 AND RECORDED 1/13/95 IN REEL 2173 PAGE 2096, 14TH SUPPLEMENTAL DECLARATION DATED 3/31/95 RECORDED
7/14/95 IN REEL 2224 PAGE 1329, 15th SUPPLEMENTAL DECLARATION DATED 12/6/2002 RECORDED 2/25/2003 IN CRFN 2003000026521, 16TH SUPPLEMENTAL DECLARATION DATED 11/20/2006 RECORDED 1/5/2007 IN CRFN 2007000010782, 17TH SUPPLEMENTAL DECLARATION DATED
4/7/2009 RECORDED 6/3/2009 IN CRFN 2009000166673 AND CORRECTION TO 17TH SUPPLEMENTAL DECLARATION DATED 8/11/2009 RECORDED 8/19/2009 IN CRFN 2009000261899 (HEREINAFTER CALLED THE “DECLARATION”), AND DESIGNATED AS TAX LOTS (SEE SCHEDULE 1)
ON THE TAX MAP OF THE REAL PROPERTY ASSESSMENT DEPARTMENT OF THE CITY OF NEW YORK FOR THE BOROUGH OF MANHATTAN AND ON THE FLOOR PLANS OF THE BUILDING CERTIFIED BY EDWARD J. HURLEY, ON THE 15TH DAY OF JUNE, 1973 AND FILED IN THE OFFICE OF THE
REGISTER OF THE CITY OF NEW YORK, COUNTY OF NEW YORK, ON THE 27TH DAY OF SEPTEMBER, 1974 AS CONDOMINIUM PLAN NO. 11, WHICH PLANS WERE SUPPLEMENTED BY REVISED PLANS CERTIFIED TO BY HURLEY AND FARINELLA, ARCHITECTS, FILED IN THE OFFICE OF THE REGISTER
OF THE CITY OF NEW YORK, COUNTY OF NEW YORK ON THE 23RD DAY OF JANUARY, 1976 AND PLANS FILED IN THE CITY REGISTER’S OFFICE ON 10/30/1985 AS CONDOMINIUM PLAN NO. 11A THROUGH 11F AND PLANS FILED IN THE CITY REGISTER’S OFFICE ON 7/14/1995 AS
CONDOMINIUM PLAN NO. 11G AND AS SAID PLANS MAY HAVE BEEN FURTHER AMENDED AND SUPPLEMENTED. 
 TOGETHER WITH THE UNDIVIDED INTERESTS IN THE
COMMON ELEMENTS OF THE PROPERTY (HEREINAFTER CALLED THE “COMMON ELEMENTS”) APPURTENANT THERETO AS SHOWN ON SCHEDULE 1 ATTACHED HERETO. 
 THE LAND ON WHICH THE BUILDING IS LOCATED IS DESCRIBED AS FOLLOWS: 
 ALL THAT CERTAIN PLOT, PIECE
OR PARCEL OF LAND, SITUATE, LYING AND BEING IN THE BOROUGH OF MANHATTAN, COUNTY, CITY AND STATE OF NEW YORK, BOUNDED AND DESCRIBED AS FOLLOWS: 

BEGINNING AT A POINT ON THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH (FORMERLY KNOWN AS 59TH STREET), DISTANT 100 FEET EASTERLY FROM THE CORNER FORMED BY THE
INTERSECTION OF THE EASTERLY SIDE OF SEVENTH AVENUE WITH THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH; 
 RUNNING THENCE SOUTHERLY AND PARALLEL WITH
SEVENTH AVENUE, 200 FEET 10 INCHES TO THE NORTHERLY SIDE OF 58TH STREET; 
 THENCE EASTERLY, ALONG THE NORTHERLY SIDE OF 58TH STREET, 206 FEET 4
INCHES; 
 THENCE NORTHERLY AND AGAIN PARALLEL WITH SEVENTH AVENUE, 200 FEET 10 INCHES TO THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH; 

THENCE WESTERLY ALONG THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH, 206 FEET 4 INCHES TO THE POINT OR PLACE OF BEGINNING.

THE policy to be issued under this report will insure the title to such buildings and improvements erected on the premises, which by law
constitute real property. 
 FOR CONVEYANCING ONLY: TOGETHER with all the right, title and interest of the party of the first part, of in
and to the land lying in the street in front of and adjoining said premises. 
 Title No. NCS-557963-CHI2 

SCHEDULE 1 
  

									
	 Unit Number
	  	Tax Lot	 	  	Percentage of Common
Elements	 
	 Hotel Unit
	  	 	1001	  	  	 	49.67063	% 
	 Commercial Unit
	  	 	2001	  	  	 	11.51997	% 
	 2001
	  	 	1610	  	  	 	0.26391	% 
	 1720
	  	 	2025	  	  	 	0.27523	% 
	 1826
	  	 	2032	  	  	 	0.18117	% 
	 1910
	  	 	2035	  	  	 	0.06887	% 
	 1912
	  	 	2036	  	  	 	0.10312	% 
	 1915
	  	 	2037	  	  	 	0.11081	% 
	 26TR
	  	 	2038	  	  	 	0.12634	% 
	 3005
	  	 	2042	  	  	 	0.12108	% 
	 3214
	  	 	2043	  	  	 	0.08918	% 

  

 EXHIBIT 1.1(c) 

DESCRIPTION OF RESIDENTIAL UNITS 
 Title No. NCS-557963-CHI2 
 SCHEDULE “A” 

THE UNITS DESCRIBED IN SCHEDULE 1 ATTACHED HERETO, IN THE BUILDING KNOWN AS THE ESSEX HOUSE CONDOMINIUM AND BY THE STREET NUMBER 160 CENTRAL PARK SOUTH,
CITY, COUNTY AND STATE OF NEW YORK, WHICH ARE THE SAME UNITS AND UNIT NUMBERS FOR SUCH UNITS ACCORDING TO THE DECLARATION ESTABLISHING A PLAN FOR CONDOMINIUM OWNERSHIP OF SAID BUILDING AND THE LAND ON WHICH IT IS ERECTED (HEREINAFTER CALLED THE
“PROPERTY”) UNDER THE CONDOMINIUM ACT OF THE STATE OF NEW YORK (ARTICLE 9-B OF THE REAL PROPERTY LAW OF THE STATE OF NEW YORK), DATED 7/24/1974 AND RECORDED IN THE OFFICE OF THE REGISTER OF THE CITY OF NEW YORK, IN THE COUNTY OF NEW YORK,
ON 9/27/1974 IN REEL 325 PAGE 479 AND AMENDED BY 1ST SUPPLEMENTAL DECLARATION DATED 12/8/1975 RECORDED 2/5/1976 IN REEL 361 PAGE 1526, 2ND SUPPLEMENTAL DECLARATION DATED 12/6/1977 RECORDED 2/3/1978 IN REEL 427 PAGE 1455, 3RD SUPPLEMENTAL DECLARATION
DATED 12/18/1980 RECORDED 2/5/1981 IN REEL 553 PAGE 1758, 4TH SUPPLEMENTAL DECLARATION DATED 12/18/1980 RECORDED 2/5/1981 IN REEL 553 PAGE 1762, 5TH SUPPLEMENTAL DECLARATION DATED 6/12/1981 RECORDED 7/10/1981 IN REEL 573 PAGE 1461, 6TH SUPPLEMENTAL
DECLARATION DATED 9/3/1981 RECORDED 9/23/1981 IN REEL 584 PAGE 8, 7TH SUPPLEMENTAL DECLARATION DATED 11/9/1981 RECORDED 11/24/1981 IN REEL 592 PAGE 1861, 8TH SUPPLEMENTAL DECLARATION DATED 1/29/1982 RECORDED 2/8/1982 IN REEL 605 PAGE 910, 9TH
SUPPLEMENTAL DECLARATION DATED 4/19/1984 RECORDED 8/21/1984 IN REEL 825 PAGE 1228, 10TH SUPPLEMENTAL DECLARATION DATED 10/22/1984 RECORDED 11/15/1984 IN REEL 848 PAGE 201, 11TH SUPPLEMENTAL DECLARATION DATED 9/13/1985 RECORDED 10/30/1985 IN REEL 978
PAGE 825, 12TH SUPPLEMENTAL DECLARATION DATED 10/31/1985 RECORDED 10/31/1985 IN REEL 979 PAGE 1083 AND 13TH SUPPLEMENTAL DECLARATION DATED 12/28/94 AND RECORDED 1/13/95 IN REEL 2173 PAGE 2096, 14TH SUPPLEMENTAL DECLARATION DATED 3/31/95 RECORDED
7/14/95 IN REEL 2224 PAGE 1329, 15th SUPPLEMENTAL DECLARATION DATED 12/6/2002 RECORDED 2/25/2003 IN CRFN 2003000026521, 16TH SUPPLEMENTAL DECLARATION DATED 11/20/2006 RECORDED 1/5/2007 IN CRFN 2007000010782, 17TH SUPPLEMENTAL DECLARATION DATED
4/7/2009 RECORDED 6/3/2009 IN CRFN 2009000166673 AND CORRECTION TO 17TH SUPPLEMENTAL DECLARATION DATED 8/11/2009 RECORDED 8/19/2009 IN CRFN 2009000261899 (HEREINAFTER CALLED THE “DECLARATION”), AND DESIGNATED AS TAX LOTS (SEE SCHEDULE 1)
ON THE TAX MAP OF THE REAL PROPERTY ASSESSMENT DEPARTMENT OF THE CITY OF NEW YORK FOR THE BOROUGH OF MANHATTAN AND ON THE FLOOR PLANS OF THE BUILDING CERTIFIED BY EDWARD J. HURLEY, ON THE 15TH DAY OF JUNE, 1973 AND FILED IN THE OFFICE OF THE
REGISTER OF THE CITY OF NEW YORK, COUNTY OF NEW YORK, ON THE 27TH DAY OF SEPTEMBER, 1974 AS CONDOMINIUM PLAN NO. 11, WHICH PLANS WERE SUPPLEMENTED BY REVISED PLANS CERTIFIED TO BY HURLEY AND FARINELLA, ARCHITECTS, FILED IN THE OFFICE OF THE REGISTER
OF THE CITY OF NEW YORK, COUNTY OF NEW YORK ON THE 23RD DAY OF JANUARY, 1976 AND PLANS FILED IN THE CITY REGISTER’S OFFICE ON 10/30/1985 AS CONDOMINIUM PLAN NO. 11A THROUGH 11F AND PLANS FILED IN THE CITY REGISTER’S OFFICE ON 7/14/1995 AS
CONDOMINIUM PLAN NO. 11G AND AS SAID PLANS MAY HAVE BEEN FURTHER AMENDED AND SUPPLEMENTED. 
 TOGETHER WITH THE UNDIVIDED INTERESTS IN THE
COMMON ELEMENTS OF THE PROPERTY (HEREINAFTER CALLED THE “COMMON ELEMENTS”) APPURTENANT THERETO AS SHOWN ON SCHEDULE 1 ATTACHED HERETO. 
 THE LAND ON WHICH THE BUILDING IS LOCATED IS DESCRIBED AS FOLLOWS: 
 ALL THAT CERTAIN PLOT, PIECE
OR PARCEL OF LAND, SITUATE, LYING AND BEING IN THE BOROUGH OF MANHATTAN, COUNTY, CITY AND STATE OF NEW YORK, BOUNDED AND DESCRIBED AS FOLLOWS: 

BEGINNING AT A POINT ON THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH (FORMERLY KNOWN AS 59TH STREET), DISTANT 100 FEET EASTERLY FROM THE CORNER FORMED BY THE
INTERSECTION OF THE EASTERLY SIDE OF SEVENTH AVENUE WITH THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH; 
 RUNNING THENCE SOUTHERLY AND PARALLEL WITH
SEVENTH AVENUE, 200 FEET 10 INCHES TO THE NORTHERLY SIDE OF 58TH STREET; 
 THENCE EASTERLY, ALONG THE NORTHERLY SIDE OF 58TH STREET, 206 FEET 4
INCHES; 
 THENCE NORTHERLY AND AGAIN PARALLEL WITH SEVENTH AVENUE, 200 FEET 10 INCHES TO THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH; 

THENCE WESTERLY ALONG THE SOUTHERLY SIDE OF CENTRAL PARK SOUTH, 206 FEET 4 INCHES TO THE POINT OR PLACE OF BEGINNING.

THE policy to be issued under this report will insure the title to such buildings and improvements erected on the premises, which by law
constitute real property. 
 FOR CONVEYANCING ONLY: TOGETHER with all the right, title and interest of the party of the first part, of in
and to the land lying in the street in front of and adjoining said premises. 
 Title No. NCS-557963-CHI2 

SCHEDULE 1 
  

									
	 Unit Number
	  	Tax Lot	 	  	Percentage of Common
Elements	 
	 Hotel Unit
	  	 	1001	  	  	 	49.67063	% 
	 Commercial Unit
	  	 	2001	  	  	 	11.51997	% 
	 2001
	  	 	1610	  	  	 	0.26391	% 
	 1720
	  	 	2025	  	  	 	0.27523	% 
	 1826
	  	 	2032	  	  	 	0.18117	% 
	 1910
	  	 	2035	  	  	 	0.06887	% 
	 1912
	  	 	2036	  	  	 	0.10312	% 
	 1915
	  	 	2037	  	  	 	0.11081	% 
	 26TR
	  	 	2038	  	  	 	0.12634	% 
	 3005
	  	 	2042	  	  	 	0.12108	% 
	 3214
	  	 	2043	  	  	 	0.08918	% 

  

 EXHIBIT 1.2(e) 

JUMEIRAH EXCLUDED PERSONALTY 
  

							
	 ESSEX HOUSE - EXCLUDED PROPERTY

 

	 #
	 	 Property Description
	 	 Location
	 	 Comments

	 SERVERS

 

	1	 	JEH-BES - Blackberry	 	JEH	 	Decommission from Jumeirah Exchange
	2	 	NA-AD-01 - Active Directory	 	JEH	 	Decommission and extract the server hardware
	3	 	JEH-TS-02 - Terminal Services	 	JEH	 	Decommission
	4	 	BOTANICA - Exchange Front end	 	JEH	 	Decommission and extract hardware
	5	 	NA-AD-02 - Active Directory Backup	 	JEH	 	Decommission and extract hardware
	6	 	JEH-APP-01 - Solomon	 	JEH	 	Take historical data and backup tapes
	7	 	JEH-EXCH - Exchange Server	 	JEH	 	Decommission and extract hardware
	8	 	JEH-HOME-01 - File server	 	JEH	 	Extract data only
	9	 	JEH-DELPHI - Delphi	 	JEH	 	Extract data
	10	 	JEH-APP-03 - Sun Financials	 	JEH	 	Decommission and extract hardware
	11	 	JEH-HIS-APP2 - Old PMS	 	JEH	 	Extract data
	12	 	JEH-OPMS-DB - Opera DB	 	JEH	 	Extract data and leave future bookings
	13	 	JEH-OPMS-APP - Opera APP	 	JEH	 	Decommission
	14	 	JEH-OPMS-OXI - Opera OXI	 	JEH	 	Decommission
	15	 	JEH-OPMS-DR - Opera Dataguard	 	JEH	 	Decommission
	16	 	NA-RSO-01 - RSO File server	 	JEH	 	Transfer to the regional office
	17	 	JEH-SIEM - Security logs	 	JEH	 	Decommission
	18	 	WAN Optimizer - Riverbed network appliance	 	JEH	 	Decommission and extract hardware
	19	 	Juniper Appliances - Firewall and VPN appliance	 	JEH	 	Decommission
	20	 	BT MPLS network - Routers and appliances	 	JEH	 	Decommission and extract hardware
			
	JUMEIRAH MARKETING COLLATERAL  
	 		 	
	1	 	 Jumeirah Marketing Collateral (including but not
 limited to photos of the Essex House procured by
 and/or used by Jumeirah
marketing)
	 	 Throughout the Hotel, Guest

Rooms, Offices, Back-of the
 House, marketing
	 	

  

							
	 ESSEX HOUSE - EXCLUDED PROPERTY

 

	 #
	  	 Property Description
	  	Location	  	 Comments

	 FINANCIAL AND GUEST DATA

 

	1	  	Jumeirah Financial Statements, Records, Documents	  	Finance Office & Other Offices	  	All documents related to Jumeirah Management of Essex House except those documents absolutely required for the operation of the Property
	2	  	Guest credit card information	  	JEH	  	
			
	JUMEIRAH GUEST LOYALTY DATA  
	  		  	
	1	  	Guest loyalty data	  	JEH	  	Further to terms of the Management Agreement between DIG EH Hotel LLC and Jumeirah Hospitality & Leisure (USA) Inc.
			
	INTELLECTUAL PROPERTY  
	  		  	
	1	  	Trademarks, trade names, service marks, copyrights or domain names, menus and design features belonging to Jumeirah Hospitality & Leisure (USA) Inc or Jumeirah International LLC
relating to the Hotel and/or the Condominium Units and services thereat, together with all applications and rights, if any, to apply for the protection of any of the foregoing	  	N/A	  	
			
	WEBSITES  
	  		  	
	1	  	www.jumeirahessexhouse.com	  	N/A	  	Post closing, a statement will appear on the site stating Jumeirah no longer manages the hotel and a phone number for the new operator will be provided

  

							
	 ESSEX HOUSE - EXCLUDED PROPERTY

 

	 #
	  	 Property Description
	  	Location	  	 Comments

	
	 EMPLOYEE PERSONAL PROPERTY
  

	1	  	Employee - Personal Property	  	Throughout the
Hotel/Lockers/Offices	  	Pictures, paintings and other personal property brought in by employees
	2	  	A Marque Print—Hirschfeld	  	Dir. Of HR Office	  	Personal Property - HR Director
	3	  	Tight Rope Walker—Charcoal Drawing	  	Dir. Of HR Office	  	Personal Property - HR Director
	4	  	Brooklyn Bridge—Photograph	  	Dir. Of HR Office	  	Personal Property - HR Director
	5	  	Police Officer—Photograph	  	Dir. Of HR Office	  	Personal Property - HR Director
	6	  	NYC Harbor—Print	  	Dir. Of HR Office	  	Personal Property - HR Director
	7	  	NYC 59th Street—Print	  	Dir. Of HR Office	  	Personal Property - HR Director
	8	  	Japanese Toys—Print	  	Dir. Of HR Office	  	Personal Property - HR Director

 EXHIBIT 2.1(b)(i) 

WIRING INSTRUCTIONS 
 First American Title Insurance Company 
 NCS Chicago 

30 North LaSalle Street, Suite 2700, Chicago, Illinois 60602 
 (312) 553-0471 (800) 333-3993 (Fax) 553-0480 
 WIRE TRANSFER INSTRUCTIONS

  

									
		 	Wire to:	  	First American Trust, FSB	 	
		 		  	5 First American Way	 	
		 		  	 Santa Ana, CA 92707

 
	 	
		 		  	ABA Number:	 		 	
		 		  	Account Name:	 	
		 		  	Account Number:	 		 	
		 		  	Reference:	 	Escrow No:	 	
		 		  	Attention:	 		 	

 IMPORTANT: 
 PLEASE REFERENCE THE ESCROW NUMBER IN THE WIRE TRANSMITTAL 

 EXHIBIT 4.3(h)(1) 

FORM OF AFFIDAVIT OF OFFEREE 
 OFFEREE’S AFFIDAVIT IN SUPPORT OF NO-ACTION LETTER 
 ESSEX HOUSE
CONDOMINIUM – PURCHASE OF HOTEL UNIT, COMMERCIAL UNIT, UNSOLD 
 RESIDENTIAL UNITS 

 

			
	STATE OF NEW YORK	 	)
		 	) ss.:
	COUNTY OF NEW YORK	 	)

                     ,
being duly sworn deposes and says upon information and belief: 
 1. I am the
                    of                     a
                    (“Offeree”). I make this affidavit (“Affidavit”) in the foregoing capacity. 

2. Offeree submits this Affidavit in support of the application (the “Application”) made by DIG EH HOTEL LLC, a Delaware
limited liability company (the “Offeror”), requesting the issuance of a no-action letter or similar advice (collectively, a “No-Action Letter”) in connection with the sale of the condominium units more particularly
described on Schedule A annexed hereto (the “Condominium Units”), each located in the City, County and State of New York, designated in Block 1011 on the tax map of the Borough of Manhattan (the “Contemplated
Transaction”). 
 3. Offeree is in the process of negotiating a contract of sale for the purchase of the Condominium
Units with Offeror. 
 4. On information and belief, Offeree has been advised that Offeror is the fee owner of the Condominium
Units in the property located at 160 Central Park South, New York, New York (the “Property”) in the condominium known as the “Essex House Condominium” (the “Condominium”). 

5. Offeree has been advised that: (i) pursuant to the terms of an offering plan dated July 27, 1974, as amended the Property
was submitted to a condominium regime pursuant to a declaration dated July 27, 1974 and recorded in the Office of the Register of the State, County and City of New York (the “City Register’s Office”) on September 27,
1974 in reel 325 and page 479, as amended by those amendments more particularly described on Schedule B annexed hereto and (ii) the building constructed on the Property contains two (2) below-grade levels and forty three
(43) stories above grade (the “Building”). 
 6. Offeree has retained legal counsel to assist in the
review of the Contemplated Transaction and has therefore been adequately represented and advised with respect to the Contemplated Transaction. 
 7. Offeree: (i) is fully familiar with the Property and the Condominium; and (ii) has through itself or its employees, professionals and affiliates great sophistication in real estate
development and operation and has the financial wherewithal to appreciate and bear the risk of the Contemplated Transaction. 

8. Offeree understands that no condominium offering literature other than as required by a No-Action Letter will be provided in
connection with the Contemplated Transaction. 

 9. Offeree acknowledges that if the Contemplated Transaction had been effected as part of a
public offering within the meaning of the New York General Business Law Article 23-A (and any regulations promulgated thereunder) (the “Article”) and not pursuant to a No-Action Letter, Offeree would be entitled to certain rights
and protections of the Article with respect to certain disclosures, procedures, filings, remedies, etc. that would be applicable thereto. 
 10. Based upon the foregoing and as otherwise set forth in the Application, the Owner’s request for the issuance of a No-Action Letter or similar relief should be granted. 

[SIGNATURE PAGE ON FOLLOWING PAGE] 

 
			
	OFFEREE:
		
	 By:
	 	  

		 	Name:
		 	Title:

 Sworn to before me this 
             day of                     ,
2012 
  

	
	  

	Notary Public

 SCHEDULE A 
 LIST OF CONDOMINIUM UNITS 
  

			
	 Unit
	  	tax lot
	 HOTEL UNIT
	  	1001
	 COMMERCIAL UNIT
	  	2001
	 RESIDENTIAL UNITS: 2001, 1720, 1826, 1910, 1912, 1915, 26TR, 3005 and 3214
	  	1610, 2025, 2032, 2035, 2036,
 2037, 2038, 2042, 2043

 SCHEDULE B 
 SCHEDULE OF AMENDMENTS TO CONDOMINIUM DECLARATION 
  

	1.	The First Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 5th day of February, 1976, in Reel 361 at page 1526
(the “First Supplement”) and 

  

	2.	The Second Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 3rd day of February, 1978; in Reel 427 at page 1455
(the “Second Supplement”); and 

  

	3.	The Third Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 5th day of February, 1981, in Reel 553 at page 1758
(the “Third Supplement”); and 

  

	4.	The Fourth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 5th day of February, 1981, in Reel 553 at page 1762
(the “Fourth Supplement”); and 

  

	5.	The Fifth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 10th day of July, 1981, in Reel 573 at page 1461
(the “Fifth Supplement”); and 

  

	6.	The Sixth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 23rd day of September, 1981, in Reel 584 at page 8
(the “Sixth Supplement”); and 

  

	7.	The Seventh Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 24th day of November, 1981, in Reel 592 at page
1861 (the “Seventh Supplement”); and 

  

	8.	The Eighth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 8th day of February, 1982, in Reel 605 at page 910
(the “Eighth Supplement”); and 

  

	9.	The Ninth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 21st day of August, 1984, in Reel 825 at page 1228
(the “Ninth Supplement”); and 

  

	10.	The Tenth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 15th day of November, 1984, in Reel 848 at page 201
(the “Tenth Supplement”); and 

  

	11.	The Eleventh Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 30th day of October, 1985, in Reel 978 at page
825 (the “Eleventh Supplement”); and 

  

	12.	The Twelfth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 31st day of October, 1985 in Reel 979 at page 1083
(the “Twelfth Supplement”); and 

  

	13.	The Thirteenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 13th day of January, 1995 in Reel 2173 at page
2096 (the “Thirteenth Supplement”); and 

  

	14.	The Amended and Restated Declaration (the “Amended and Restated Declaration”) and the Fourteenth Supplemental Declaration, which was recorded in the Office of
the Register of the City of New York on the 14th day of July, 1995 in Reel 2224 at page 1329; the First Supplement through and including the Fourteenth Supplemental Declaration being hereafter collectively referred to as the “Supplements”;
and 

  

	15.	The Fifteenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 25th day of February, 2003 as City Register File
Number (“CRFN”) 2003000026521 (the “Fifteenth Supplement”); and 

	16.	The Sixteenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 5th day of January, 2007 as City Register File
Number (“CRFN”) 2007000010782 (the “Sixteenth Supplement”); and 

  

	17.	The Seventeenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 3rd day of June, 2009 as City Register File
Number (“CRFN”) 2009000166673 (the “Seventeenth Supplement”); and 

  

	18.	The Correction to Seventeenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 19th day of August, 2009 as City
Register File Number (“CRFN”) 2009000261899. 

 EXHIBIT 4.3(h)(2) 

FORM OF AFFIDAVIT OF OFFEROR 
 OFFEROR’S AFFIDAVIT IN SUPPORT OF NO-ACTION LETTER 
 ESSEX HOUSE
CONDOMINIUM – SALE OF HOTEL UNIT, COMMERCIAL UNIT, UNSOLD 
 RESIDENTIAL UNITS 

 

			
		  	)
		  	) ss.:
		  	)

                     ,
being duly sworn, deposes and says upon information and belief: 
 1. I am the
                    of DIG EH HOTEL LLC, a Delaware limited liability company (“Offeror”), having an office at 160 Central
Park South, New York, New York. I make this affidavit (“Affidavit”) in the foregoing capacity. 
 2. Offeror is
the fee owner of the condominium units more particularly described on Schedule A annexed hereto (the “Condominium Units”), each located in the City, County and State of New York, designated in Block 1011 on the tax map of the
Borough of Manhattan. 
 3. Offeror is the sponsor under that certain Amended and Restated Condominium Offering Plan for the
Condominium (hereinafter defined), dated as of August 18, 2006 as amended (the “Plan”). 
 4. Offeror
submits this Affidavit in support of its application for a “No-Action Letter” (the “Application”) requesting the issuance of a no-action letter or similar advice (all referred to in this Application as a “No-Action
Letter”) in connection with the sale of the Condominium Units in the condominium known as “Essex House Condominium” (the “Condominium”) having an address of 160 Central Park South, New York, New York (the
“Property”). 
 5. In accordance with the terms of the Plan, the Property was submitted to a condominium regime
pursuant to a declaration dated July 27, 1974 and recorded in the Office of the Register of the State, County and City of New York (the “City Register’s Office”) on September 27, 1974 in reel 325 and page 479, as
amended by those amendments more particularly described on Schedule B annexed hereto. The building constructed on the Property contains two (2) below-grade levels and forty three (43) stories above grade (the
“Building”). 
 6. Offeror is in the process of negotiating a contract of sale to sell the Condominium Units to
                    , a                     
(“Offeree”). 
 7. Upon the closing of sale of the Condominium Units, the Condominium Units will be owned by
Offeree and Offeror will cease to have any ownership interest in the Condominium Units. 
 8. The Application is being filed in
order to permit Offeror to sell the Condominium Units located in the Condominium as described herein. 
 9. Due to the
sophistication of the parties involved, and the nature of the proposed transaction, it is the belief of the Applicant that: 

 (i) the relationship between Offeror and Offeree is of such a nature that Offeree does not
require the protection of an offering plan; and 
 (ii) the relationship between Offeror and Offeree is such that Offeree is
aware of the condition of the Condominium Units which are the subject of the proposed transaction and the requested No-Action Letter. 
 10. The Building has been constructed in accordance with the requirements of applicable law and the Condominium was formed in conformity with applicable law, including the New York State Condominium Act.

 11. Offeror will make no transfer of the Condominium Units to members of the public unless pursuant to the procedures
outlined in this Application and this Affidavit. 
 12. To the best of Offeror’s knowledge, neither Offeror nor any of its
principals have participated, within the preceding five years, in any other Application for a no-action letter, nor have they made any other offerings which are not pursuant to an offering plan filed with the Department of Law. 

[SIGNATURE PAGE ON FOLLOWING PAGE] 

 
			
	DIG EH HOTEL LLC
		
	 By:
	 	
		 	  

		 	Name:
		 	Title:

 Sworn to before me this 
             day of                     ,
2012 

	
	
	  
	Notary Public

 SCHEDULE A 
 LIST OF CONDOMINIUM UNITS 
  

			
	 UNIT
	  	TAX LOT
	 HOTEL UNIT
	  	1001
	 COMMERCIAL UNIT
	  	2001
	 RESIDENTIAL UNITS: 2001, 1720, 1826, 1910, 1912, 1915, 26TR, 3005 and 3214
	  	1610, 2025, 2032, 2035, 2036,
 2037, 2038, 2042, 2043

 SCHEDULE B 
 SCHEDULE OF AMENDMENTS TO CONDOMINIUM DECLARATION 
  

	1.	The First Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 5th day of February, 1976, in Reel 361 at page 1526
(the “First Supplement”) and 

  

	2.	The Second Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 3rd day of February, 1978; in Reel 427 at page 1455
(the “Second Supplement”); and 

  

	3.	The Third Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 5th day of February, 1981, in Reel 553 at page 1758
(the “Third Supplement”); and 

  

	4.	The Fourth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 5th day of February, 1981, in Reel 553 at page 1762
(the “Fourth Supplement”); and 

  

	5.	The Fifth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 10th day of July, 1981, in Reel 573 at page 1461
(the “Fifth Supplement”); and 

  

	6.	The Sixth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 23rd day of September, 1981, in Reel 584 at page 8
(the “Sixth Supplement”); and 

  

	7.	The Seventh Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 24th day of November, 1981, in Reel 592 at page
1861 (the “Seventh Supplement”); and 

  

	8.	The Eighth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 8th day of February, 1982, in Reel 605 at page 910
(the “Eighth Supplement”); and 

  

	9.	The Ninth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 21st day of August, 1984, in Reel 825 at page 1228
(the “Ninth Supplement”); and 

  

	10.	The Tenth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 15th day of November, 1984, in Reel 848 at page 201
(the “Tenth Supplement”); and 

  

	11.	The Eleventh Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 30th day of October, 1985, in Reel 978 at page
825 (the “Eleventh Supplement”); and 

  

	12.	The Twelfth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 31st day of October, 1985 in Reel 979 at page 1083
(the “Twelfth Supplement”); and 

  

	13.	The Thirteenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 13th day of January, 1995 in Reel 2173 at page
2096 (the “Thirteenth Supplement”); and 

  

	14.	The Amended and Restated Declaration (the “Amended and Restated Declaration”) and the Fourteenth Supplemental Declaration, which was recorded in the Office of
the Register of the City of New York on the 14th day of July, 1995 in Reel 2224 at page 1329; the First Supplement through and including the Fourteenth Supplemental Declaration being hereafter collectively referred to as the “Supplements”;
and 

  

	15.	The Fifteenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 25th day of February, 2003 as City Register File
Number (“CRFN”) 2003000026521 (the “Fifteenth Supplement”); and 

	16.	The Sixteenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 5th day of January, 2007 as City Register File
Number (“CRFN”) 2007000010782 (the “Sixteenth Supplement”); and 

  

	17.	The Seventeenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 3rd day of June, 2009 as City Register File
Number (“CRFN”) 2009000166673 (the “Seventeenth Supplement”); and 

  

	18.	The Correction to Seventeenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 19th day of August, 2009 as City
Register File Number (“CRFN”) 2009000261899. 

 EXHIBIT 4.3(j) 

FORM OF REQUEST TO MORTGAGE LENDER 
 DIG EH HOTEL LLC 
 c/o Silverpeak Real Estate Partners 

1330 Avenue of the Americas, Suite 1200 
 New York, New York 10019 
 VIA OVERNIGHT COURIER 

August     , 2012 

Berkadia Commercial Mortgage LLC 
 118 Welsh
Road 
 Horsham, Pennsylvania 19044 

Attention: Christie M. Robbins 
 Re: Essex House

 Dear Ms. Robbins: 
 Reference
is made to that certain Mortgage Loan Agreement (the “Loan Agreement”), dated as of August 9, 2007, between DIG EH Hotel LLC (“Borrower”) and UBS Real Estate Securities Inc. (“Lender”). Each
initially capitalized term used herein without definition has the meaning ascribed to such term in the Loan Agreement. 
 In connection with
Borrower’s repayment of the Loan and pursuant to Section 2.6 of the Loan Agreement, Borrower hereby requests that Lender assign the Mortgage to a lender to be designated by Borrower on a date to be designated by Borrower which date will be
on or prior to the Maturity Date. Please advise whether Lender wishes for Borrower to arrange for the drafting of the documents required to effect such assignment or if Lender will arrange for such documents to be drafted. 

Respectfully, 
 Anthony Juliano, Managing
Director 
 Silverpeak Real Estate Partners 
 (Owner’s Representative for DIG EH Hotel LLC) 

 EXHIBIT 6.2(e) 

FORM OF POST CLOSING ESCROW AGREEMENT 
 POST CLOSING ESCROW AGREEMENT 
 THIS ESCROW AGREEMENT (“Escrow
Agreement”), dated the         day of                     , 2012 (the “Post Closing Escrow
Agreement Effective Date”), is by and between DIG EH HOTEL, LLC, a Delaware limited liability company (“Seller”), SHR ESSEX HOUSE LLC, a Delaware limited liability company (“Purchaser”), and FIRST AMERICAN
TITLE INSURANCE COMPANY (“Escrow Agent”). 
 R E C I T A L S: 

WHEREAS, pursuant to that certain Purchase and Sale Agreement dated August         , 2012 (as
amended and/or assigned, “PSA”), a copy of which has been provided to Escrow Agent, Seller agreed to sell to Purchaser and Purchaser agreed to acquire from Seller, certain Property (as defined in the PSA) commonly known as The Essex
House located at 160 Central Park South, New York, New York; 
 WHEREAS, the parties are entering into this Escrow Agreement
pursuant to the provisions of the PSA and to fulfill its obligations under the PSA, Seller is depositing with the Escrow Agent pursuant to Section 6.2(e) of the PSA the sum of $7,000,000.00 (together with any interest, the
“Deposit”), to be held and disbursed in accordance with the provisions of this Escrow Agreement. 
 NOW,
THEREFORE, in consideration of Ten and No/100 ($10.00) Dollars and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Seller, Purchaser, and Escrow Agent hereby agree as follows: 

 

	1.	Upon receipt of the Deposit into Escrow Agent’s escrow account (as set forth on Exhibit A attached hereto), Escrow Agent agrees to hold the Deposit in
escrow and disburse the Deposit in accordance with the terms of this Escrow Agreement. 

  

	2.	Escrow Agent shall disburse the Deposit as follows: 

  

	 	(a)	Escrow Agent shall promptly deliver all or any portion of the Deposit to Purchaser as directed in writing by Seller. 

 

	 	(b)	Escrow Agent shall promptly deliver all or any portion of the Deposit as directed by a joint direction from Seller and Purchaser. 

 

	 	(c)	Escrow Agent shall deliver all or any portion of the Deposit: 

  

	 	(i)	as directed by the Purchaser in the event that Purchaser makes a written demand therefor to Seller and Escrow Agent (a “Claims Notice”) certifying the
basis of such demand pursuant to the PSA, 

  

	 	(ii)	in the amount claimed in the Claims Notice (the “Claimed Amount”), and 

 

	 	(iii)	on the fifth (5th) business day after Escrow Agent’s receipt of said Claims Notice. 

 

	 	(d)	Notwithstanding the forgoing provisions of Section 2(c), if Escrow Agent receives written notice from Seller with a copy to Purchaser (a “Dispute
Notice”) within such five (5) business day period, stating that Seller disputes Purchaser’s right to receive the Claimed Amount and directing Escrow Agent not to make the foregoing payment, then upon receipt of a Dispute Notice,
Escrow Agent shall not deliver the Claimed Amount to Purchaser, but shall instead retain it pending instruction in accordance with Section 2(a) or Section 2(b) hereof, or pursuant to a final order of a court of competent jurisdiction, or,
if appropriate, interplead a portion of the Deposit equal to the Claimed Amount in a court of competent jurisdiction. 

	 	(e)	 At 5:00 p.m. Central time on the tenth (10th) day following the first (1st) anniversary of the Post Closing Agreement Effective Date Escrow Agent, without need for further notice to either
party shall disburse to Seller such amounts held in respect of the Claims Deposit, minus any Claimed Amount disbursed to Purchaser, and minus any amount which is subject to an outstanding dispute under a Claims Notice or Dispute Notice as of such
date, any such disputed amount to be disbursed upon the written direction of the parties or pursuant to a final order of a court of competent jurisdiction. 

 

	3.	Escrow Agent shall invest the Deposit in an interest bearing F.D.I.C. insured account at a bank determined by Escrow Agent. All interest will be reported to the
applicable taxing authorities and accrue for income tax purposes to the account of Seller; Seller shall be responsible for paying all taxes on any interest earned on the Deposit, which obligation shall survive the expiration of this Agreement.
Seller shall provide Escrow Agent with its Federal Identification Number and shall fill out and submit a Form W-9 or W-8BEN as required by Escrow Agent. 

  

	4.	Escrow Agent may not commingle the Deposit with other funds held in any “trustees account.” 

 

	5.	In the event that a dispute shall arise as to the disposition of the Deposit or any other funds held hereunder in escrow, Escrow Agent shall have the right, at its
option, to either hold the same or deposit the same with a court of competent jurisdiction pending decision of such court, and Escrow Agent shall be entitled to rely upon the decision of such court. 

 

	6.	Escrow Agent shall have no liability whatsoever arising out of or in connection with its activity as escrow agent provided it does not act in bad faith or willful
disregard of the terms of this Agreement and Seller and Purchaser jointly and severally agree to indemnify and hold harmless Escrow Agent from all loss, cost, claim, damage, liability and expenses (including reasonable attorneys’ fees) which
may be incurred by reason of its acting as escrow agent unless caused by Escrow Agent’s bad faith or willful disregard of the terms of this Escrow Agreement. 

 

	7.	Escrow Agent shall be entitled to rely upon any judgment, certification, demand or other writing delivered to it hereunder without being required to determine the
authenticity or the correctness of any fact stated therein, the propriety or validity thereof, or the jurisdiction of a court issuing any such judgment. Escrow Agent may act in reliance upon (x) any instrument or signature believed to be
genuine and duly authorized, and (y) advice of counsel in reference to any matter or matters connected therewith. 

  

	8.	In the event of a dispute concerning disposition of the Deposit, the party to whom the Deposit is finally awarded by a court of competent jurisdiction shall be entitled
to be reimbursed by the other party for its reasonable legal fees incurred in the dispute. 

  

	9.	Notices given under this Escrow Agreement shall be given to the parties at the addresses and in the manner set forth in Section 12.7 of the PSA.

  

	10.	This Agreement shall be governed by and construed in accordance with the laws of the State of New York. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK. SIGNATURE PAGES FOLLOW.] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the Post Closing Escrow
Agreement Effective Date 
  

			
	SELLER:
	
	DIG EH HOTEL LLC, a Delaware limited liability company
		
	 By:
	 	  

		 	Name:
		 	Title:
	
	PURCHASER:
	
	SHR ESSEX HOUSE LLC, a Delaware limited liability company
		
	 By:
	 	  

		 	Name:
		 	Title:
	
	ESCROW AGENT:
	
	FIRST AMERICAN TITLE INSURANCE COMPANY
		
	 By:
	 	  

		 	Name:
		 	Title:

 EXHIBIT 8.2(a) 

FORM OF DEED 
 DEED 
 THIS DEED, made the 7th day of September 2012, between DIG EH HOTEL LLC, a Delaware limited
liability company, having an office at c/o Silverpeak Real Estate Partners, 1330 Avenue of the Americas, Suite 1200, New York, New York 10019 (the “Grantor”) and SHR ESSEX HOUSE LLC, a Delaware limited liability company (the
“Grantee”), having an address at c/o Strategic Hotels & Resorts, Inc., 200 W. Madison Street, Suite 1700, Chicago, Illinois 60606. 
 WITNESSETH: 
 WHEREAS, on the 27th day of July, 1974, Essex House
Condominium Corporation, a Delaware corporation (“EHCC”), a predecessor in interest to Sponsor, executed a Declaration establishing a plan of condominium ownership to be known as the Essex House Condominium (herein so-called) covering
premises located at 160 Central Park South, New York, New York, which was recorded in the Office of the Register of the City of New York, County of New York (the “Register’s Office”) on the 27th day of September, 1974, in Reel 325 at
page 479 (the “Original Declaration”); and 
 WHEREAS, on the 8th day of December, 1975, EHCC executed a First
Supplemental Declaration, which was recorded in the Register’s Office on the 5th day of February, 1976, in Reel 361 at page 1526 (the “First Supplement”); and 
 WHEREAS, on the 6th day of December, 1977, EHCC executed a Second Supplemental Declaration, which was recorded in the Register’s Office on the 3rd day of February, 1978, in Reel 427 at page 1455 (the
“Second Supplement”); and 
 WHEREAS, on the 18th day of December, 1980, EHCC executed a Third Supplemental
Declaration, which was recorded in the Register’s Office on the 5th day of February, 1981, in Reel 553 at page 1758 (the “Third Supplement”); and 
 WHEREAS, on the 18th day of December, 1980, EHCC executed a Fourth Supplemental Declaration, which was recorded in the Register’s Office on the 5th day of February, 1981, in Reel 553 at page 1762
(the “Fourth Supplement”); and 
 WHEREAS, on the 12th day of June, 1981, EHCC executed a Fifth Supplemental
Declaration, which was recorded in the Register’s Office on the 10th day of July, 1981, in Reel 573 at page 1461 (the “Fifth Supplement”); and 
 WHEREAS, on the 3rd day of September, 1981, EHCC executed a Sixth Supplemental Declaration, which was recorded in the Register’s Office on the 23rd day of September, 1981, in Reel 584 at page 8 (the
“Sixth Supplement”); and 
 WHEREAS, on the 9th day of November, 1981, EHCC executed a Seventh Supplemental
Declaration, which was recorded in the Register’s Office on the 24th day of November, 1981, in Reel 592 at page 1861 (the “Seventh Supplement”); and 
 WHEREAS, on the 29th day of January, 1982, EHCC executed an Eighth Supplemental Declaration, which was recorded in the Register’s Office on the 8th day of February, 1982, in Reel 605 at page 910 (the
“Eighth Supplement”); and 

 WHEREAS, on the 19th day of April, 1984, EHCC executed a Ninth Supplemental Declaration,
which was recorded in the Register’s Office on the 21st day of August, 1984, in Reel 825 at page 1228 (the “Ninth Supplement”); and 
 WHEREAS, on the 22nd day of October, 1984, EHCC executed a Tenth Supplemental Declaration, which was recorded in the Register’s Office on the 15th day of November, 1984, in Reel 848 at page 201 (the
“Tenth Supplement”); and 
 WHEREAS, on the 13th day of September, 1985, EHCC executed an Eleventh Supplemental
Declaration, which was recorded in the Register’s Office on the 30th day of October, 1985, in Reel 978 at page 825 (the “Eleventh Supplement”); and 
 WHEREAS, on the 31st day of October, 1985, EHCC executed a Twelfth Supplemental Declaration, which was recorded in the Register’s Office on the 31st day of October, 1985 in Reel 979 at page 1083 (the
“Twelfth Supplement”); and 
 WHEREAS, on the 28th day of December, 1994, the Essex House Condominium executed a
Thirteenth Supplemental Declaration, which was recorded in the Register’s Office on the 13th day of January, 1995 in Reel 2173 at page 2096; and 
 WHEREAS, on the 31st day of March, 1995, the Essex House Condominium executed an Amended and Restated Fourteenth Supplemental Declaration, which was recorded in the Register’s Office on the 14th day
of July, 1995 in Reel 2224 at page 1329 (the “Amended and Restated Fourteenth Supplement”) (the Original Declaration through and including the Amended and Restated Fourteenth Supplement, and as further amended through the Corrective
Seventeenth Supplement, is hereinafter referred to as the “Amended and Restated Declaration”); and 
 WHEREAS, on the
25th day of February 25, 2003, the Fifteenth Supplemental Declaration dated December 6, 2002 was recorded in the Register’s Office in City Register File No. (CRFN) 2003000026521 (the “Fifteenth Supplement”); and 

WHEREAS, on the 5th day of January, 2007, the Sixteenth Supplemental Declaration dated November 20, 2006 was recorded in the
Register’s Office in City Register File No. (CRFN) 2007000010782 (the “Sixteenth Supplement”); and 
 WHEREAS, on
the 3rd day of June, 2009, the Seventeenth Supplemental Declaration dated April 7, 2009 was recorded in the Register’s Office in City Register File No. (CRFN) 2009000166673 (the “Seventeenth Supplement”); and 

WHEREAS, on the 19th day of August, 2009, the Correction to Seventeenth Supplemental Declaration was recorded in the Register’s
Office in City Register File No. (CRFN) 2009000261899 (the “Corrective Seventeenth Supplement”). 
 That the Grantor,
in consideration of Ten and 00/100 ($10.00) Dollars and other good and valuable consideration paid by the Grantee, does hereby grant and release unto the Grantee, the heirs or successors and assigns of the Grantee, forever: 

The units described on Schedule 1 attached hereto (collectively, the “Units”) in the Amended and Restated Declaration, together
with the furnishings, fixtures, and appliances therein in their existing condition, in the building (the “Building”) known as the Essex House and by the street number 160 Central Park South, Borough of Manhattan, City, County and State of
New York and the land on which it is erected (the “Property”), made under the Condominium Act of the State of New York (Article 9-B of the Real Property Law of the State of New York) and designated as the Tax Lot Nos. described on Schedule
1 attached hereto in Block No. 1011 of the Borough of Manhattan on the Tax Map of the Land Records Division of the City of New York and on the floor plans of the Building certified by Brennan Beer Gorman/Architects and filed in the
Register’s Office as Condominium Plan No. 

 
11G as the same is amended, restated, or supplemented at any time. The land on which the Building is located is described as follows: 

Beginning at a point on the southerly side of Central Park South (formerly known as 59th Street), distance 100 feet easterly from the
corner formed by the intersection of the easterly side of Seventh Avenue with the southerly side of Central Park South; running thence southerly and parallel with Seventh Avenue, 200 feet 10 inches to the northerly side of 58th Street; thence
easterly, along the northerly side of 58th Street, 206 feet 4 inches; thence northerly and again parallel with Seventh Avenue, 200 feet 10 inches to the southerly side of Central Park South; thence westerly along the southerly side of Central Park
South, 206 feet 4 inches to the point or place of BEGINNING. 
 TOGETHER with the buildings, structures, fixtures and other
improvements situated upon or being part of the Property; 
 TOGETHER with an undivided interest in the common elements of the
Property as more particularly set forth on Schedule 1 attached hereto (the “Common Elements”); 
 TOGETHER with an
easement for the continuance of all encroachments by the unit on any adjoining Units or Common Elements now existing as a result of construction of the Building, or which may come into existence hereafter as a result of settling or shifting of the
Building, or as a result of repair or restoration of the Building or of the Units after damage or destruction by fire or other casualty, or after a taking in condemnation or eminent domain proceedings, or by reason of an alteration to the Common
Elements, so that any such encroachments may remain so long as the Building shall stand; 
 TOGETHER with an easement in common
with the owners of other units to use any pipes, wires, ducts, cables, conduits, public utility lines, and other Common Elements located in any of the other units or elsewhere on the Property, and serving the Units; 

TOGETHER with the appurtenances and all the estate and rights of the Grantor in and to the Units; 

TOGETHER with and subject to all easements of necessity in favor of the Units or in favor of other units or the Common Elements;

 TOGETHER with an easement for the exclusive use of any terrace to which the Units have sole access; 

TOGETHER with an easement, which easement shall constitute one of the Common Elements, for ingress and egress over and upon the hotel
facilities areas included within the commercial unit to be retained by Grantor. 
 SUBJECT to easements in favor of adjoining
units and in favor of the Common Elements for the continuance of all encroachments of such adjoining units or Common Elements on the Units now existing as a result of construction of the Building, or which may come into existence hereafter as a
result of settling or shifting of the Building, or as a result of repair or restoration of the Building or of any adjoining unit or of the Common Elements after damage or destruction by fire or other casualty, or after a taking in condemnation or
eminent domain proceedings, or by reason of an alteration to the Common Elements, so that any such encroachments may remain so long as the Building shall stand; 
 SUBJECT also to an easement in favor of the other units to use the pipes, wires, ducts, conduits, cables, public utility lines and other Common Elements located in the Units or elsewhere on the Property
and serving such other units; 
 SUBJECT also to easements in favor of any unit having sole access to a terrace, for the
exclusive use of such terrace; 

 SUBJECT also to the provisions of the Amended and Restated Declaration and of the By-Laws,
as amended, of the Essex House Condominium recorded simultaneously with and as part of the Amended and Restated Declaration, as the same may be further amended from time to time by instruments recorded in the Register’s Office, which
provisions, together with any amendments thereto, shall constitute covenants running with the land and shall bind any person having at any time any interest or estate in the Units, as though such provisions were recited and stipulated at length
herein; 
 SUBJECT also to those matters listed on Schedule B attached hereto; 

TO HAVE AND TO HOLD the same unto the Grantee, the heirs or successors and assigns of the Grantee, forever. 

The use for which the Units is intended is for accommodation or dwelling purposes by the Grantee, Grantee’s family, guests, tenants,
or employees, or as part of a full-service transient hotel operation. 
 The Grantor, in compliance with Section 13 of the
Lien Law of the State of New York, covenants that the Grantor will receive the consideration for this conveyance and will hold the right to receive such consideration as a trust fund for the purpose of paying the cost of the improvement and will
apply the same first to the payment of the cost of the improvement before using any part of the same for any other purposes. 

The Grantor also covenants that it has not done or suffered anything whereby the Units have been encumbered in any way whatsoever.

 The Grantee accepts and ratifies the provisions of the Amended and Restated Declaration and the By-Laws and the Rules and
Regulations of the Essex House Condominium recorded simultaneously with and as part of the Amended and Restated Declaration and agrees to comply with all the terms and provisions thereof as the same may be amended from time to time by instruments
recorded in the Register’s Office. 
 The terms “Grantor” and “Grantee” shall be read as
“Grantors” and “Grantees” whenever the sense of this deed so requires. 
 [remainder of page intentionally
left blank] 

 IN WITNESS WHEREOF, the Grantor and the Grantee have duly executed this deed the day and
year first above written. 
  

			
	GRANTOR:
	
	DIG EH HOTEL LLC, a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:
	
	GRANTEE:
	
	 SHR ESSEX HOUSE LLC, a Delaware limited liability

company

		
	By:	 	  

		 	Name:
		 	Title:

			
	STATE OF NEW YORK	 	)
		 	)
	 COUNTY OF NEW YORK
	 	)

 On the             day of
                    in the year 2012, before me, the undersigned, personally appeared
                    , personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument. 

 

	
	  
 Notary
Public

			
	STATE OF NEW YORK	 	)
		 	)
	 COUNTY OF NEW YORK
	 	)

 On the             day of
                    in the year 2012, before me, the undersigned, personally appeared
                    , personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument. 

 

	
	  
 Notary
Public

 SCHEDULE 11 
 DESCRIPTION OF UNITS 
  

					
	 Unit No.
	  	Tax Lot No.	  	Percentage Interest in the 
Common
Elements
	 HOTEL UNIT
	  	1001	  	[            ]%
	 COMMERCIAL UNIT
	  	2001	  	[            ]%
	 RESIDENTIAL UNIT: 2001
	  	1610	  	[            ]%
	 RESIDENTIAL UNIT: 1720
	  	2025	  	[            ]%
	 RESIDENTIAL UNIT: 1826
	  	2032	  	[            ]%
	 RESIDENTIAL UNIT: 1910
	  	2035	  	[            ]%
	 RESIDENTIAL UNIT: 1912
	  	2036	  	[            ]%
	 RESIDENTIAL UNIT: 1915
	  	2037	  	[            ]%
	 RESIDENTIAL UNIT: 26TR
	  	2038	  	[            ]%
	 RESIDENTIAL UNIT: 3005
	  	2042	  	[            ]%
	 RESIDENTIAL UNIT: 3214
	  	2043	  	[            ]%

  

	1 	 Subject to confirmation by title company. 

 SCHEDULE B 
 PERMITTED ENCUMBRANCES 
 [TO BE COMPLETED IN ACCORDANCE WITH SECTION 3.2 OF THE
AGREEMENT] 

 EXHIBIT 8.2(b) 

FORM OF BILL OF SALE AND GENERAL ASSIGNMENT 
 BILL OF SALE AND GENERAL ASSIGNMENT 
 This BILL OF SALE
AND GENERAL ASSIGNMENT (this “Assignment”) is made as of this 7th day of September 2012 from DIG EH HOTEL LLC, a Delaware limited liability company, having an office at c/o Silverpeak Real Estate Partners, 1330 Avenue of the Americas, Suite 1200, New York, New York
10019 (“Seller”) to and for the benefit of SHR ESSEX HOUSE LLC, a Delaware limited liability company, having an address at c/o Strategic Hotels & Resorts, Inc., 200 W. Madison Street, Suite 1700, Chicago, Illinois 60606
(“Purchaser”). 
 WHEREAS, in connection with the conveyance of the condominium unit commonly known as The
Essex House Hotel described on Exhibit A attached hereto (the “Real Property”), Seller hereby conveys, transfers, sets over and assigns to Purchaser all of Seller’s right, title and interest in and to all
(i) furniture, equipment, machinery, inventories, supplies, signs and other tangible personal property of every kind and nature owned by Seller whether located at the Real Property or off-site (collectively, the “Personal
Property”); (ii) intangible assets of any nature relating to the Real Property or improvements located thereon (the “Improvements”), including, without limitation, all of Seller’s right, title and interest, if
any, in and to all (a) warranties and guaranties relating to the Personal Property and the Improvements, (b) all licenses, permits, development rights, and approvals relating to the Real Property and the Improvements and (c) all plans
and specifications relating to the Real Property and the Improvements that are in Seller’s possession, in each case to the extent that Seller is entitled to transfer or assign the same (collectively, the “Intangible Property”);
and (iii) all service, supply, and equipment rental contracts affecting or executed in connection with the Real Property and the Improvements and to the extent that Seller is entitled to assign them. Seller represents and warrants to Purchaser
that Seller has not pledged, hypothecated or collaterally assigned any of the Personal Property, Intangible Property or Property Contracts and has not granted any lien, security interest or other encumbrance on any of the Personal Property, except
in each case for pledges, hypothecations, collateral assignments and liens that will be released contemporaneous with this Assignment. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Seller does hereby sell, deliver, transfer, set-over and assign unto Purchaser the
Personal Property in its “AS IS” condition without express or implied warranty of any kind or nature except as expressly set forth in that certain Purchase and Sale Agreement between Seller and Purchaser dated August
            , 2012 (the “Purchase Agreement”), to have and to hold the same unto Purchaser and Purchaser’s successors and assigns, forever. 

Seller hereby agrees to indemnify, defend and save harmless Purchaser, its successors and assigns from and against all costs, expenses
and liabilities of the owner/lessor under the Property Contracts first arising or accruing through the day immediately preceding the Closing Date, and Purchaser hereby agrees to indemnify and hold Seller, its successors and assigns harmless against
all costs, expenses and liabilities of Seller under the Property Contracts arising with respect to the period from and including the Closing Date. This Assignment is made without recourse to Seller except as expressly set forth in the Purchase
Agreement. 
 By its execution of this Assignment, Purchaser hereby accepts the assignment of the Property Contracts and assumes
and agrees to perform timely and discharge all of Seller’s obligations, covenants, and agreements under the Property Contracts accruing from and after the date hereof. 
 This Assignment shall be governed by the laws of the State of New York. 
 All
terms of this Assignment shall be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective legal representatives, successors and assigns. 

No modification, waiver, amendment, discharge, change or termination of this Assignment shall be valid unless the same is in writing and
signed by the party against which the enforcement of such modification, waiver, amendment, discharge, change or termination is or may be sought. 

 This Assignment may be executed in counterparts, each of which when so executed and
delivered shall be deemed an original and all of which together shall constitute one and the same instrument. 
 IN WITNESS
WHEREOF, Purchaser and Seller have duly executed this Assignment as of the date first above written. 
  

			
	SELLER:
	
	DIG EH HOTEL LLC, a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:
	
	PURCHASER:
	
	 SHR ESSEX HOUSE LLC, a Delaware limited liability

company

		
	By:	 	  

		 	Name:
		 	Title:

 Exhibit A 
 Property Description 

 EXHIBIT 8.2(c) 

FORM OF ASSIGNMENT AND ASSUMPTION OF LEASES 
 ASSIGNMENT AND ASSUMPTION OF LEASES 
 THIS ASSIGNMENT
AND ASSUMPTION OF LEASES (this “Assignment”) is made as of this 7th day of September 2012 (the “Effective Date”), from DIG EH HOTEL LLC, a Delaware limited liability company, having an office at c/o Silverpeak Real Estate Partners, 1330 Avenue of the
Americas, Suite 1200, New York, New York 10019 (“Assignor”) to and for the benefit of SHR ESSEX HOUSE LLC, a Delaware limited liability company, having an address at c/o Strategic Hotels & Resorts, Inc., 200 W. Madison
Street, Suite 1700, Chicago, Illinois 60606 (“Assignee”). 
 R E C I T A L S 

1. Assignor is the owner of the condominium units in the building commonly known as the Jumeirah Essex House located at 160 Central Park
South, New York, New York and more particularly described on Exhibit A attached hereto (together with the buildings, structures, fixtures and other improvements situated thereon or being part thereof, the “Property”).

 2. Concurrently with this Assignment, Assignor is conveying the Property to Assignee in accordance with that certain Purchase
and Sale Agreement between Assignor and Assignee dated as of August             , 2012 (the “Purchase Agreement”; each capitalized term used herein without definition has
the meaning ascribed to such term in the Purchase Agreement). 
 3. Assignor is party to that certain (i) Lease of
Commercial Premises, dated June 1, 2012, between Assignor, as lessor, and Danielli Fine Jewelry, as lessee (together with all amendments, modifications, supplements, extensions and related agreements, if any, thereto, the “Jewelry
Lease”), and (ii) lease (the “Gift Shop Lease”; the Jewelry Lease and the Gift Shop Lease, collectively , the “Leases” and individually a “Lease”) to Abeer Corporation. 

A G R E E M E N T 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Assignor hereby transfers, sets over and assigns to Assignee all of Assignor’s right,
title and interest in, to and under the Leases, including, without limitation, the right to receive payments due and to become due thereunder from and after the Effective Date and all rights of Assignor in and to the Tenant Deposits. 

Assignor represents and warrants that it is the owner of each Lease free and clear of any claims and has not granted any lien, security
interest or other encumbrance on its interest in any Lease, except for liens, security interests and other encumbrances that will be released contemporaneous with this Assignment. 

Assignor hereby agrees to indemnify, defend and save harmless Assignee, its successors and assigns from and against all costs, expenses
and liabilities of the lessor under each Lease arising with respect to the period before and through the day immediately preceding the Closing Date, and Assignee hereby agrees to indemnify, defend and hold Assignor, its successors and assigns
harmless against all costs, expenses and liabilities of the lessor under each Lease arising with respect to the period from and including the Closing Date. It is expressly agreed that Assignor shall not be responsible to the lessee under any Lease
for the discharge and performance of any and all duties and obligations hereafter accruing and to be performed and/or discharged by the lessor thereunder from and after the Effective Date, including, without limitation, any duty or obligation to
return the Tenant Deposits to lessee. 
 By its execution of this Assignment, Assignee hereby accepts the assignment of the
Leases and assumes and agrees to perform all of Assignor’s obligations, covenants, and agreements under the Leases accruing from and after the Effective Date. 

 This Assignment shall be governed by the laws of the State of New York. 

Except as expressly set forth in the Assignment or as expressly set forth in Purchase Agreement, Assignor makes no representation or
warranty in connection with this Assignment and this Assignment is made without recourse to Assignor. 
 All terms of this
Assignment shall be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective legal representatives, successors and assigns. 
 No modification, waiver, amendment, discharge, change or termination of this Assignment shall be valid unless the same is in writing and signed by the party against which the enforcement of such
modification, waiver, amendment, discharge, change or termination is or may be sought. 
 This Assignment may be executed in
counterparts, each of which when so executed and delivered shall be deemed an original and all of which together shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, Assignor and Assignee have duly executed this Assignment as of the Effective Date. 
  

			
	ASSIGNOR:
	
	DIG EH HOTEL LLC, a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:
	
	ASSIGNEE:
	
	SHR ESSEX HOUSE LLC, a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:

 Exhibit A 
 Property Description 

 EXHIBIT 8.2(d) 

FORM OF ASSIGNMENT OF BOOKINGS AND BOOKING DEPOSITS 
 ASSIGNMENT OF BOOKINGS AND BOOKING DEPOSITS 
 THIS
ASSIGNMENT OF BOOKINGS AND BOOKING DEPOSITS (this “Assignment”) is made as of this 7th day of September 2012, from DIG EH HOTEL LLC, a Delaware limited liability company, having an office at c/o Silverpeak Real Estate Partners, 1330 Avenue of the Americas, Suite 1200, New York, New York
10019 (“Assignor”) to and for the benefit of SHR ESSEX HOUSE LLC, a Delaware limited liability company, having an address at c/o Strategic Hotels & Resorts, Inc., 200 W. Madison Street, Suite 1700, Chicago, Illinois
60606 (“Assignee”). 
 R E C I T A L S 

1. Assignor is the owner of the condominium unit commonly known as The Essex House Hotel located at 160 Central Park South, New York, New
York, more particularly described in Exhibit A attached hereto and incorporated herein (the “Property”). 
 2. Assignor has on the date hereof (the “Closing Date”) delivered a deed to the Property to Assignee pursuant to a certain Purchase and Sale Agreement between Assignor and Assignee dated
as of August             , 2012 (the “Purchase Agreement”). 
 3. For good and valuable consideration, Assignor has agreed to transfer and assign to Assignee all of Assignor’s right, title and interest, if any, in and to any commitments or reservations for the
use of any guest rooms, banquet facilities, convention facilities or meeting rooms in the Hotel-Related Units (as defined in the Purchase Agreement) scheduled to occur on or after the date hereof (the “Bookings”), together will
all deposits, if any, under the Bookings (the “Booking Deposits”). 
 NOW, THEREFORE, Assignor hereby
transfers, sets over and assigns to Assignee as additional consideration with respect to the Purchase Agreement, all right, title and interest of Assignor in and to the Bookings, without limitation, the right to receive payments due and to become
due thereunder after the Closing Date and any of Assignor’s rights in the Booking Deposits, if any, but subject to the terms of the Purchase Agreement which survive such assignment and the conveyance of the Property to Assignee. 

Assignor represents and warrants that it is the owner of the Bookings free and clear of any claims except valid claims, if any, of the
guests to the return of the Bookings Deposits; and 
 Assignor hereby agrees to indemnify, defend and save harmless Assignee,
its successors and assigns from and against all costs, expenses and liabilities regarding the Bookings arising with respect to the period before and through the day immediately preceding the Closing Date, and Assignee hereby agrees to indemnify,
defend and hold Assignor, its successors and assigns harmless against all costs, expenses and liabilities regarding the Bookings arising with respect to the period from and including the Closing Date. It is expressly agreed that Assignor shall not
be responsible to the guests under the Bookings for the discharge and performance of any and all duties and obligations hereafter accruing and to be performed and/or discharged by the hotel from and after the date hereof, including, without
limitation, Assignee’s duty and obligation to return the Booking Deposits to guests. 
 By its execution of this
Assignment, Assignee hereby accepts the assignment of the Bookings and assumes and agrees to perform timely and discharge all of Assignor’s obligations, covenants, and agreements under the Bookings accruing from and after the date hereof.

 This Assignment shall be governed by the laws of the State of New York. 

 Except as expressly set forth in this Assignment or as expressly set forth in the Purchase
Agreement, Assignor makes no representation or warranty in connection with this Assignment and this Assignment is made without recourse to Assignor. 
 All terms of this Assignment shall be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective legal representatives, successors and assigns. 

No modification, waiver, amendment, discharge, change or termination of this Assignment shall be valid unless the same is in writing and
signed by the party against which the enforcement of such modification, waiver, amendment, discharge, change or termination is or may be sought. 
 This Assignment may be executed in counterparts, each of which when so executed and delivered shall be deemed an original and all of which together shall constitute one and the same instrument.

 IN WITNESS WHEREOF, Assignor and Assignee have duly executed this Assignment as of the date first above written. 

 

			
	
	ASSIGNOR:
	
	DIG EH HOTEL LLC, a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:
	
	ASSIGNEE:
	
	SHR ESSEX HOUSE LLC, a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:

 Exhibit A 
 Property Description 

 EXHIBIT 8.2(e) 

FORM OF ASSIGNMENT OF INTELLECTUAL PROPERTY 
 In the United States Patent and Trademark Office 
 Trademark Assignment
Agreement 
 WHEREAS, DIG EH Hotel LLC, a Delaware limited liability company, with
offices at 160 Central Park South, c/o Essex House Hotel, New York, New York 10019 (“ASSIGNOR”) owns the trademark ESSEX HOUSE for hotel services (the “MARK”) and U.S. Registration No. 1750657 for the MARK (the
“REGISTRATION”); and 
 WHEREAS, SHR ESSEX HOUSE LLC, a Delaware limited
liability company, having an address at c/o Strategic Hotels & Resorts, Inc., 200 W. Madison Street, Suite 1700, Chicago, Illinois 60606 (“ASSIGNEE”), desires to acquire all of the right, title and interest of ASSIGNOR in, to
and under the MARK, together with the goodwill associated therewith; 
 WHEREAS, ASSIGNOR and ASSIGNEE
have entered into a certain Purchase and Sale Agreement dated August             , 2012, assigning, among other things, all right, title and interest in and to the MARK and in and to the
REGISTRATION from ASSIGNOR to ASSIGNEE; 
 NOW, THEREFORE, in consideration of the sum of
One Dollar ($1.00) and other good and valuable consideration paid by ASSIGNEE to ASSIGNOR, the receipt and sufficiency of which hereby is acknowledged, ASSIGNOR does hereby sell, assign, transfer and convey unto ASSIGNEE its entire right, title and
interest in and to the MARK, and to the REGISTRATION, including without limitation, all related common law rights, together with the goodwill appurtenant thereto, all rights of action resulting from prior infringement or other unauthorized use of
the MARK, and all rights in any adversarial proceedings. 
 ASSIGNOR agrees (a) not to use or apply to register any trade
name, domain name, trademark or service mark which is the same as or confusingly similar to the MARK anywhere in the world, (b) not to challenge ASSIGNEE’s use of or future application or registration of the MARK or the existing
REGISTRATION; and (c) to timely execute all necessary documents to give effect to this Assignment. 
 IN
WITNESS WHEREOF, ASSIGNOR has caused this Assignment to be duly executed by an authorized officer on this             day of
            , 2012. 
  

	
	
	DIG EH HOTEL LLC, a Delaware limited liability company
	
	By:                             
                                         
                                      
	
	Name:                             
                                         
                                 
	
	Title:                            
                                         
                                    

 EXHIBIT 8.2(g) 

FORM OF NOTICE TO VENDORS 
 DIG EH HOTEL LLC 
 c/o Silverpeak Real Estate Partners 

1330 Avenue of the Americas, Suite 1200 
 New York, New York 10019 

                    , 2012 

CERTIFIED MAIL 
  

	
	  

	  

	  

 Ladies and Gentlemen: 
 You are hereby informed that, as of the date hereof, DIG EH Hotel LLC sold the Essex House, and has assigned its interest as a party under the agreement between it, or its predecessor, and you, or your
predecessor, regarding certain services, maintenance or licenses, as applicable, provided for the benefit of the Essex House, in each case to: 
 SHR ESSEX HOUSE LLC (the “Buyer”) 
 c/o Strategic Hotels &
Resorts, Inc. 
 200 W. Madison Street, Suite 1700 
 Chicago, Illinois 60606 
 From and after the date hereof, you are instructed to deliver all
invoices and notices under such agreement to the Buyer at the Essex House to the attention of the general manager, with a copy to the address set forth above to the attention of the general counsel . 

 

	
	 Very truly yours,
  

DIG EH HOTEL LLC, a Delaware limited liability
 company

	
	By:                           
                                         
                          
	Name:                           
                                         
                    
	Title:                           
                                         
                       

 EXHIBIT 8.2(i) 

FORM OF FIRPTA CERTIFICATE 
 FIRPTA CERTIFICATE 
 This Certificate of Non-Foreign Status (this
“Certificate”) is made as of the             day of             , 2012, by DIG HOSPITALITY SERVICES INC., a
Delaware corporation (the “Transferor”). 
 This Certificate is made pursuant to Section 1445 of the
Internal Revenue Code, which provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign person. For U.S. tax purposes (including Section 1445), the owner of a disregarded entity (which has title
to a U.S. real property interest under local law) will be the transferor of the property and not the disregarded entity. To inform the transferee that withholding of tax is not required on the disposition of a U.S. real property interest by the
Transferor, the undersigned hereby certifies the following on behalf of the Transferor: 
 1. the Transferor is not a foreign
corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations); 
 2. the Transferor is not a disregarded entity, as defined in Income Tax Regulations Section 1.1445-2(b)(2)(iii); 
 3. the Transferor’s U.S. employer identification number is 32-0153-239; and 

4. the Transferor’s office address is: 
 c/o Silverpeak Real Estate Partners 
 1330 Avenue of the Americas, Suite 1200

 New York, New York 10019 
 The Transferor understands that this certification may be disclosed to the Internal Revenue Service by the transferee and that any false statement contained herein could be punished by fine, imprisonment
or both. 
 Under penalties of perjury, I declare that I have examined this Certificate and, to the best of my knowledge and
belief, it is true, correct, and complete, and I further declare that I have authority to sign this document on behalf of the Transferor. 
  

	
	  

Name:

	Title:

 EXHIBIT 8.2(k) 

FORM OF SELLER’S AFFIDAVIT TO TITLE COMPANY 
 SELLER’S AFFIDAVIT TO TITLE COMPANY 
 AFFIDAVIT

  

			
	STATE OF NEW YORK	  	)
		  	) ss:
	COUNTY OF NEW YORK	  	)

  
  
                     , being the
                    of DIG EH Hotel LLC, a Delaware limited liability company (“DIG EH”), and solely in such capacity as authorized
signatory of DIG EH, in consideration of                     (the “Title Company”) issuing its title insurance policy (the
“Title Policy”) insuring an interest in the real estate described on Schedule A annexed to such Title Policy (the “Premises”), and being first duly sworn on oath, deposes and states to the best of my knowledge as
follows: 
 1. That the only tenants occupying the Premises are the tenants under (i) that certain Lease of Commercial
Premises, dated June 1, 2012, between DIG EH, as lessor, and Danielli Fine Jewelry, as lessee, and (ii) the lease to Abeer Corporation. 
 2. That no inspection fees, permit fees, elevator, sign or boiler fees, or other charges have been levied, charged, created or incurred against the Premises, that may become a tax or other lien pursuant
to Section 26-128 (formerly Section 643a-14.0) of the Administrative Code of the City of New York, as amended by Local Laws 10 of 1981 and 25 of 1984, and Section 27-4029.1 of the Administrative Code of the City of New York, as
amended by L.L. 43, 1988 or any other section of the Law. 
 3. That no work has been done upon the Premises by the City of New
York nor has any demand been made by the City of New York for any such work that may result in charges by the New York City Department of Emergency Services or charges by the New York City Department of Environmental Protection for water tap
closings or any related work. 
  

	
	DIG EH HOTEL LLC
	
	By:                             
       

 Sworn to before me this 
         day of             , 2012. 

	
	
	  

 (Notary Public) 

 EXHIBIT 8.2(r) 

FORM OF CONDOMINIUM ESTOPPEL 
 THE ESSEX HOTEL CONDOMINIUM 

            , 2012 
 SHR ESSEX HOUSE LLC 
 c/o Strategic Hotels & Resorts, Inc. 

200 W. Madison Street, Suite 1700 
 Chicago,
Illinois 60606 
  

	Re:	Purchase and Sale Agreement between DIG EH Hotel LLC, as seller (“Seller”), and SHR Essex House LLC, as purchaser (“Purchaser”), dated as of August
            , 2012 (the “Purchase Agreement”). 

 Ladies and
Gentlemen: 
 The Board of Managers of the Essex House Condominium (the “Condominium Board”) is writing this letter to
you at your request with respect to certain matters concerning the Essex House Condominium and hereby certifies the following: 

1. Attached hereto as Exhibit A is a true, complete and correct copy of (i) the Amended and Restated Declaration establishing
a plan for condominium ownership of the premises known as the Essex House Condominium and located at 160 Central Park South, in the Borough of Manhattan, City, County and State of New York, pursuant to the Condominium Act of the State of New York
(Article 9-B of the Real Property Law of the State of New York) dated March 31, 1995 and recorded in the Office of the City Register, New York County, on July 14, 1995 in Reel 2224 at page 1329, as amended (the
“Declaration”) and (ii) the Amended and Restated By-Laws of the Essex House Condominium, as amended (together with the Declaration, the “Condominium Documents”). The Condominium Documents are in full force and
effect and have not been amended or supplemented, except as set forth on Exhibit B annexed hereto. Any terms not otherwise defined herein shall have the meaning ascribed thereto in the Condominium Documents. 

2. To the best of the Condominium Board’s knowledge, the Seller is not in default under the Condominium Documents. 

3. Upon the resignation of Richard Siegler, Herbert Teitelbaum and Chris Mander in accordance with the Purchase Agreement, Purchaser
shall have the immediate right to appoint three replacements to the Condominium Board. 
 4. To the best knowledge of the
Condominium Board, there are no common charges due and owing by the Seller with respect to the condominium units more particularly described on Exhibit C annexed hereto (the “Units”). 

5. Pursuant to the terms of the Condominium Documents, the Condominium Board has no right of first refusal with respect to the sale of
the Units from Seller to Purchaser. 
 The Condominium Board acknowledges that you will rely on this letter in making the
purchase referenced above. This letter and the information contained herein shall be for the benefit of you and your successors and assigns, and for the benefit of your lenders and their respective successors and assigns. 

 The undersigned is a duly appointed agent of the Condominium Board, is the incumbent in the
office indicated under his name, and is duly authorized to execute this Condominium Board Estoppel Certificate. 
  

			
	Very truly yours,
	
	THE BOARD OF MANAGERS OF
	THE ESSEX HOUSE CONDOMINIUM
		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT A 

Copy of Amended and Restated Declaration and By-Laws 
 [see attached] 

 EXHIBIT B 

Amendments to the Amended and Restated Declaration and By-Laws 

 

	1.	The Fifteenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 25th day of February, 2003 as City Register File
Number (“CRFN”) 2003000026521 (the “Fifteenth Supplement”); and 

  

	2.	The Sixteenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 5th day of January, 2007 as City Register File
Number (“CRFN”) 2007000010782 (the “Sixteenth Supplement”); and 

  

	3.	The Seventeenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 3rd day of June. 2009 as City Register File
Number (“CRFN”) 2009000166673 (the “Seventeenth Supplement”); and 

  

	4.	The Correction to Seventeenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 19th day of August, 2009 as City
Register File Number (“CRFN”) 2009000261899. 

 EXHIBIT C 

UNITS 
  

			
	 Unit
	  	Tax Lot
	 Hotel Unit
	  	1001
	 Commercial Unit
	  	2001
	 Residential Units: 2001, 1720, 1826, 1910, 1912, 1915, 26TR, 3005 and 3214
	  	1610, 2025, 2032, 2035, 2036,
2037, 2038, 2042, 2043

 EXHIBIT 8.2(w) 

FORM OF ASSIGNMENT AND ASSUMPTION OF CONDOMINIUM DECLARATION 

ASSIGNMENT AND ASSUMPTION OF CONDOMINIUM DECLARATION 
 THIS ASSIGNMENT AND ASSUMPTION OF CONDOMINIUM DECLARATION (this “Assignment”) is made as of this     day of
            , 2012, from DIG EH HOTEL LLC, a Delaware limited liability company, having an office at c/o Silverpeak Real Estate Partners, 1330 Avenue of the Americas, Suite 1200, New York,
New York 10019 (“Assignor”) to and for the benefit of SHR ESSEX HOUSE LLC, a Delaware limited liability company, having an address at c/o Strategic Hotels & Resorts, Inc., 200 W. Madison Street, Suite 1700, Chicago,
Illinois 60606 (“Assignee”). 
 R E C I T A L S 

WHEREAS, Assignor is the owner of the condominium units in the building commonly known as the Jumeirah Essex House located at 160 Central
Park South, New York, New York and more particularly described on Exhibit A attached hereto (together with the buildings, structures, fixtures and other improvements situated thereon or being part thereof, the
“Property”); 
 WHEREAS, concurrently with this Assignment, Assignor is conveying the Property to Assignee in
accordance with that certain Purchase and Sale Agreement between Assignor and Assignee dated as of August             , 2012 (the “Purchase Agreement”; each capitalized
term used herein without definition has the meaning ascribed to such term in the Purchase Agreement); and 
 WHEREAS, Assignor
is the sponsor under the Declaration and the by-laws and any other exhibits or schedules annexed thereto establishing a plan of condominium ownership known as the Essex House Condominium covering the premises located at 160 Central Park South, New
York, New York, which was recorded in the Office of the Register of the City of New York, County of New York on the 27th day of September, 1974, in Reel 325 at Page 479, as amended by those supplemental declarations more particularly described on
Exhibit A annexed hereto. (collectively, the “Declaration”). 
 NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, Assignor hereby transfers, sets over and assigns to Assignee all of Assignor’s rights and privileges, if any (the “Assignor’s Rights”) arising
under the Declaration. 
 By its execution of this Assignment, Assignee hereby accepts the assignment of the Assignor’s
Rights and assumes and agrees to perform all of the Assignor’s Rights from and after the Effective Date. 
 Assignee hereby
agrees to indemnify, defend and hold Assignor, its successors and assigns harmless against all costs, expenses and liabilities of Assignor first arising from and after the Effective Date. It is expressly agreed that Assignor shall not be responsible
for the discharge and performance of any of the Assignor’s Rights to be performed and/or discharged from and after the Effective Date. 
 This Assignment shall be governed by the laws of the State of New York. 
 Except
as expressly set forth in the Purchase Agreement, Assignor makes no representation or warranty in connection with this Assignment and this Assignment is made without recourse to Assignor. 

All terms of this Assignment shall be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective
legal representatives, successors and assigns. 

 No modification, waiver, amendment, discharge, change or termination of this Assignment
shall be valid unless the same is in writing and signed by the party against which the enforcement of such modification, waiver, amendment, discharge, change or termination is or may be sought. 

This Assignment may be executed in counterparts, each of which when so executed and delivered shall be deemed an original and all of
which together shall constitute one and the same instrument. 
 [remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, Assignor and Assignee have duly executed this Assignment as of the
Effective Date. 
  

			
	
	ASSIGNOR:
	
	DIG EH HOTEL LLC, a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:
	
	ASSIGNEE:
	
	 SHR ESSEX HOUSE LLC, a Delaware limited liability

company

		
	By:	 	  

		 	Name:
		 	Title:

 Exhibit A 
 SCHEDULE OF AMENDMENTS TO CONDOMINIUM DECLARATION 
  

	1.	The First Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 5th day of February, 1976, in Reel 361 at page 1526
(the “First Supplement”) and 

  

	2.	The Second Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 3rd day of February, 1978; in Reel 427 at page 1455
(the “Second Supplement”); and 

  

	3.	The Third Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 5th day of February, 1981, in Reel 553 at page 1758
(the “Third Supplement”); and 

  

	4.	The Fourth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 5th day of February, 1981, in Reel 553 at page 1762
(the “Fourth Supplement”); and 

  

	5.	The Fifth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 10th day of July, 1981, in Reel 573 at page 1461
(the “Fifth Supplement”); and 

  

	6.	The Sixth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 23rd day of September, 1981, in Reel 584 at page 8
(the “Sixth Supplement”); and 

  

	7.	The Seventh Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 24th day of November, 1981, in Reel 592 at page
1861 (the “Seventh Supplement”); and 

  

	8.	The Eighth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 8th day of February, 1982, in Reel 605 at page 910
(the “Eighth Supplement”); and 

  

	9.	The Ninth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 21st day of August, 1984, in Reel 825 at page 1228
(the “Ninth Supplement”); and 

  

	10.	The Tenth Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 15th day of November, 1984, in Reel 848 at page 201
(the “Tenth Supplement”); and 

  

	11.	The Eleventh Supplemental Declaration, which was recorded in the Office of the Register of the City of New York on the 30th day of October, 1985, in Reel 978 at page
825 (the “Eleventh Supplement”); and 

  

	12.	The Twelfth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 31st day of October, 1985 in Reel 979 at page 1083
(the “Twelfth Supplement”); and 

  

	13.	The Thirteenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 13th day of January, 1995 in Reel 2173 at page
2096 (the “Thirteenth Supplement”); and 

  

	14.	The Amended and Restated Declaration (the “Amended and Restated Declaration”) and the Fourteenth Supplemental Declaration, which was recorded in the Office of
the Register of the City of New York on the 14th day of July, 1995 in Reel 2224 at page 1329; the First Supplement through and including the Fourteenth Supplemental Declaration being hereafter collectively referred to as the “Supplements”;
and 

  

	15.	The Fifteenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 25th day of February, 2003 as City Register File
Number (“CRFN”) 2003000026521 (the “Fifteenth Supplement”); and 

	16.	The Sixteenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 5th day of January, 2007 as City Register File
Number (“CRFN”) 2007000010782 (the “Sixteenth Supplement”); and 

  

	17.	The Seventeenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 3rd day of June, 2009 as City Register File
Number (“CRFN”) 2009000166673 (the “Seventeenth Supplement”); and 

  

	18.	The Correction to Seventeenth Supplemental Declaration which was recorded in the Office of the Register of the City of New York on the 19th day of August, 2009 as City
Register File Number (“CRFN”) 2009000261899. 

 EXHIBIT 8.3(c) 

ASSUMPTION AGREEMENT 
 Agreement made as of this    day of                    2012, by and between SHR
ESSEX HOUSE LLC and [MANAGER/ OPERATOR NAME, IF DIFFERENT] its managing agent, on their own behalf and on behalf of any affiliated or related entity and any current or future owner, manager or operator, and their respective successors or assigns
(collectively, “Purchaser”), and the NEW YORK HOTEL AND MOTEL TRADES COUNCIL, AFL-CIO (“Union”). 
 Whereas,
Purchaser has agreed to purchase the Essex House (“Hotel”) from the current owner, DIG EH Hotel LLC (“Seller”); 
 Whereas, the Seller is bound to, inter alia, Article 59 of a collective bargaining agreement known as the Industry Wide Agreement between the Union and the Hotel Association of New York City, Inc. known
as the Industry Wide Collective Bargaining Agreement (“IWA”); 
 Whereas, Article 59 of the IWA requires successors,
assigns and transferees (“successor”) to be bound to the IWA; 
 Whereas, the Purchaser agrees that it is a successor
to the obligations under the IWA; 
 Now, therefore it is agreed: 

1. Purchaser agrees that it shall retain all current bargaining unit employees, whose employment will continue uninterrupted and without
loss of seniority, compensation, benefits or fringe benefits, and with no adverse effect on other terms and conditions of employment, subject to the IWA and applicable law. 
 2. Purchaser agrees that, effective as of the date of the closing, it has assumed, adopted and is bound by all of the terms, both economic and non-economic, of the IWA and those agreements and practices
supplementing the IWA. 
 3. By virtue of the closing, Purchaser acknowledges that no new verification of currently valid I-9
forms will be necessary. 
 4. Effective immediately any and all disputes between the parties or regarding the interpretation or
application of this Agreement shall be subject to the grievance arbitration provisions of the IWA, the entirety of which is incorporated herein by reference. 
  

			
	FOR THE UNION
		
	By:	 	  

		 	Name:
		 	Title:
	Authorized to Sign

 Dated: 
  

			
	FOR THE PURCHASER (on behalf of each owner, operator and manager)
		
	By:	 	  

		 	Name:
		 	Title:
	Authorized to Sign

 Dated: 

 EXHIBIT 8.8 
 FORM OF NOTICE TO TENANT 
 DIG EH HOTEL LLC 

c/o Silverpeak Real Estate Partners 
 1330 Avenue of the Americas, Suite 1200 
 New York, New York 10019 

                    , 2012 

CERTIFIED MAIL 
  

			
	  
	  	
	  
	  	
	  
	  	

 Ladies and Gentlemen: 
 You are hereby informed that, as of the date hereof, DIG EH HOTEL LLC sold the Essex House, and has assigned its interest as lessor under the lease between it, or its predecessor, and you, or your
predecessor, covering certain space in the said Essex House, in each case to: 
 SHR ESSEX HOUSE LLC (the “Buyer”)

 c/o Strategic Hotels & Resorts, Inc. 
 200 W. Madison Street, Suite 1700 
 Chicago, Illinois 60606 

The security deposit, if any, held by the undersigned under your lease (be it in cash or letter of credit or a combination of the two)
has been turned over to the Buyer. 
 You will be receiving a separate notice from the Buyer concerning future payments due
under your lease, new notice addresses and other matters. 
  

	
	Very truly yours,
	
	DIG EH HOTEL LLC, a Delaware limited liability company
	
	By:                             
                                         
                                         
  
	Name:                             
                                         
                                     
	Title:<![CDATA[Employment Agreement between the Company & Derrick Walker ]]>

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (“Agreement”) is made as
of May 29, 2012 between CMRG APPAREL, LLC, (the “Company”) a “Related Entity”, as defined in the 2006 Incentive Compensation Plan, of Casual Male Retail Group, Inc., a Delaware corporation with an office at 555 Turnpike
Street, Canton, Massachusetts, 02021 (“CMRG” which term includes any affiliates and subsidiaries), and Derrick Walker (the “Executive”) having an address at 8642 Woodland Pointe, Mason, OH 45040. 

WITNESSETH: 
 WHEREAS, the Company desires that Executive serve as Senior Vice President, Chief Marketing Officer and Executive desires to be so employed by the Company. 

WHEREAS, Executive and the Company desire to set forth in writing the terms and conditions of the Executive’s employment with the
Company from the date hereof. 
 NOW, THEREFORE, in consideration of the promises and the mutual promises, representations and
covenants herein contained, the parties hereto agree as follows: 
  

	 	1.	EMPLOYMENT 

 The Company
hereby employs Executive and Executive hereby accepts such employment, subject to the terms and conditions herein set forth. Executive shall hold the office of Senior Vice President, Chief Marketing Officer. 

 

	 	2.	TERM 

 The term of
employment under this Agreement (the “Term of Employment”) shall begin on the date set forth above (the “Effective Date”) and shall continue until terminated by either party as hereinafter set forth. 

 

	 	3.	COMPENSATION 

 (a)
During the Term of Employment, as compensation for the employment services to be rendered by Executive hereunder, the Company agrees to pay to Executive, and Executive agrees to accept, payable in equal bi-weekly installments in accordance with
Company practice, an annual base salary of Two Hundred Seventy Five Thousand Dollars and 00/100 Cents ($275,000.00) (the “Base Salary”). The Base Salary shall be reviewed at least annually to ascertain whether, in the judgment of the
Company, such Base Salary should be adjusted. If so, the adjusted Base Salary shall be adjusted for all purposes of this Agreement. 
 (b) In addition to the Base Salary, during the Term of Employment, Executive is eligible to participate in the Company’s Annual Incentive Plan. Such incentive shall be determined and payable in
accordance with the Company’s incentive program in effect at the time, subject to change from year to year in the Company’s sole discretion. Executive will participate in the Company’s incentive program and Executive’s target
bonus under such plan (if all individual and Company performance conditions are met) shall be 35% of Executive’s actual 

 
annual base earnings (which shall be the total Base Salary as may be paid during the fiscal year (“Base Earnings”)). The actual award under the incentive program, if any, may be more or
less than the target and will be based on Executive’s performance and the performance of the Company and payment will be made in accordance with and subject to the terms and conditions of the incentive program then in effect. 

(c) In addition, during the Term of Employment, Executive is eligible to participate in the Company’s Long-Term Incentive Plan
(“LTIP”). Such incentive shall be determined and distributable in accordance with and subject to the terms and conditions as described in the LTIP documents in effect at the time of the award, subject to change from year to year in the
Compensation Committee’s sole discretion. Executive will participate in the Company’s LTIP at a target incentive rate of 70% of Executive’s combined actual annual Base Earnings, for the incentive period, based upon the Company’s
targeted performance as defined in the LTIP documents in effect at the time of the award. 
 (d) Executive will be granted
fifty thousand (50,000) CMRG Non-Qualified Stock Options as of the close of trading on June 14, 2012. These shares will vest over a three year period, with 1/3 of the grant vesting each year. Details will be provided in
a formal Stock Agreement. 
  

	 	4.	EXPENSES 

 (a) The
Company shall pay or reimburse Executive, in accordance with the Company’s policies and procedures and upon presentment of suitable vouchers, for all reasonable business and travel expenses, which may be incurred or paid by Executive during the
Term of Employment in connection with his employment hereunder. Executive shall comply with such restrictions and shall keep such records as the Company may reasonably deem necessary to meet the requirements of the Internal Revenue Code of 1986, as
amended from time to time, and regulations promulgated thereunder. 
 (b) Company shall pay to Executive One Hundred Six
Thousand Nine Hundred Dollars and 00/100 Cents S ($106,900.00) (the “Relocation Payment”) to assist in relocating to the area. The Relocation Payment, which is subject to customary withholding, shall be made in two equal installments of
Thirty-Five Thousand Six Hundred and Thirty-Three Dollars and 33/100 Cents ($35,633.33) and a third and final installment of Thirty-Five Thousand Six Hundred and Thirty-Three Dollars and 34/100 Cents ($35,633.34). The first installment shall be
paid to Executive on or about June 15, 2012, the second installment on or about July 6, 2012 and the third and final installment on or about July 27, 2012. If Executive leaves the Company’s employment voluntarily within two years
of the date of this Agreement, Executive shall reimburse the Company for the Relocation Payment based upon the following formula: 1/24th of the Relocation Payment for each month remaining in the two years from the date of this Agreement. All or a
portion of such reimbursement may be withheld from Executive’s final paycheck, but in any event must be made within thirty days of Executive’s voluntary termination of employment. 

  
 2 

	 	5.	OTHER BENEFITS 

 (a)
During the Term of Employment, Executive shall be entitled to such vacations and to participate in and receive any other benefits customarily provided by the Company to its management (including any profit sharing, pension, 401(k), short and
long-term disability insurance, medical and dental insurance and group life insurance plans in accordance with and subject to the terms of such plans, including, without limitation, any eligibility requirements contained therein), all as determined
from time to time by the Compensation Committee of the Board of Directors in its discretion. 
 (b) The Company will, during
the Term of Employment, provide Executive with an automobile allowance in the total amount of eight thousand four hundred dollars and 00/100 ($8400.00) annually, in equal bi-weekly payments in accordance with the Company’s normal payroll
practices. Executive shall pay and be responsible for all insurance, repairs and maintenance costs associated with operating the automobile. Executive is responsible for his gasoline, unless the gasoline expense is reimbursable under the
Company’s policies and procedures. 
 (b) Executive will be eligible to participate in the Company’s annual
performance appraisal process. 
  

	6.	DUTIES 

 (a) Executive
shall perform such duties and functions consistent with the position of Senior Vice President, Chief Marketing Officer and/or as the Company shall from time to time determine and Executive shall comply in the performance of his duties with the
policies of, and be subject to the direction of the Company. 
 (b) During the Term of Employment, Executive shall devote
substantially all of his time and attention, vacation time and absences for sickness excepted, to the business of the Company, as necessary to fulfill his duties. Executive shall perform the duties assigned to him with fidelity and to the best of
his ability. Notwithstanding anything herein to the contrary, and subject to the foregoing, Executive shall not be prevented from accepting positions in outside organizations so long as such activities do not interfere with Executive’s
performance of his duties hereunder and do not violate paragraph 10 hereof. 
 (c) The principal location at which the Executive
shall perform his duties hereunder shall be at the Company’s offices in Canton, Massachusetts or at such other location as may be temporarily designated from time to time by the Company. Notwithstanding the foregoing, Executive shall perform
such services at such other locations as may be required for the proper performance of his duties hereunder, and Executive recognizes that such duties may involve travel. 

  
 3 

	 	7.	TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION 

 (a) The Term of Employment may be terminated by the Company at any time: 
 (i)
upon the determination by the Company that Executive’s performance of his duties has not been fully satisfactory for any reason which would not constitute justifiable cause (as hereinafter defined) or for other business reasons necessitating
termination which do not constitute justifiable cause, in either case upon thirty (30) days’ prior written notice to Executive; or 
 (ii) upon the determination of the Company that there is justifiable cause (as hereinafter defined) for such termination. 
 (b) The Term of Employment shall terminate upon: 
  

	 	(i)	the death of Executive; 

  

	 	(ii)	the date on which the Company elects to terminate the Term of Employment by reason of the “disability” of Executive (as hereinafter defined in subsection
(c) herein) pursuant to subsection (g) hereof; or 

  

	 	(iii)	Executive’s resignation of employment. 

 (c) For the purposes of this Agreement, the term “disability” shall mean Executive is physically or mentally incapacitated so as to render Executive incapable of performing the essentials of
Executive’s job, even with reasonable accommodation, as reasonably determined by the Company, which determination shall be final and binding. 
 (d) For the purposes hereof, the term “justifiable cause” shall mean: any failure or refusal to perform any of the duties pursuant to this Agreement or any breach of this Agreement by the
Executive; Executive’s breach of any material written policies, rules or regulations which have been adopted by the Company; Executive’s repeated failure to perform his duties in a satisfactory manner; Executive’s performance of any
act or his failure to act, as to which if Executive were prosecuted and convicted, a crime or offense involving money or property of the Company or its subsidiaries or affiliates, or a crime or offense constituting a felony in the jurisdiction
involved, would have occurred; any unauthorized disclosure by Executive to any person, firm or corporation of any confidential information or trade secret of the Company or any of its subsidiaries or affiliates; any attempt by Executive to secure
any personal profit in connection with the business of the Company or any of its subsidiaries and affiliates; or the engaging by Executive in any business other than the business of the Company and its subsidiaries and affiliates which interferes
with the performance of his duties hereunder. Upon termination of Executive’s employment for justifiable cause, Executive shall not be entitled to any amounts or benefits hereunder other than such portion of Executive’s Base Salary and
reimbursement of expenses pursuant to paragraph 5 hereof as have been accrued through the date of his termination of employment. 
 (e) If the Company terminates this Agreement without “justifiable cause” as provided in subsection 7(a)(i), the Company shall pay Executive his then current base salary for five months after the
effectiveness of such termination, payable in equal payments in accordance with the Company’s customary payroll practices commencing with the first payroll period that begins at least 30 days after the termination of the Executive’s Term
of Employment conditioned upon 

  
 4 

 
the Executive having provided the Company with an executed general release in the form attached hereto as Exhibit A (the “General Release”) and the time for Executive’s revocation
of the General Release having expired. Such payments shall be made in accordance with the Company’s customary payroll practices until paid in full. Any payment pursuant to this paragraph 7(e) is contingent upon Executive’s execution of the
General Release within 21 days after termination of the Term of Employment (and the Executive’s not revoking that General Release) and will be in lieu of payments to which Executive might have been entitled under any other severance plan of the
Company. 
 (f) If Executive shall die during the term of his employment hereunder, this Agreement shall terminate immediately.
In such event, the estate of Executive shall thereupon be entitled to receive such portion of Executive’s base annual salary and reimbursement of expenses pursuant to paragraph 4 as have been accrued through the date of his death. 

(g) Upon Executive’s “disability”, the Company shall have the right to terminate Executive’s employment. Any
termination pursuant to this subsection (g) shall be effective on the earlier of (i) the date 30 days after which Executive shall have received written notice of the Company’s election to terminate or (ii) the date he begins to
receive long-term disability insurance benefits under the policy provided by the Company pursuant to paragraph 5 hereof. 
 (h)
Upon the resignation of Executive in any capacity, that resignation will be deemed to be a resignation from all offices and positions that Executive holds with respect to the Company and any of its subsidiaries and affiliates. In the event of
Executive’s resignation, he shall be entitled only to receive such portion of his annual Base Salary and reimbursement of expenses pursuant to paragraph 4 as have been accrued through the date of his resignation. 

(i) Change of Control. In the event the Term of Employment is terminated by the Company without justifiable cause (as defined herein) or
Executive resigns with Good Reason (as defined herein) within one (1) year following a Change of Control of the Company has occurred, then, in such event, the Company shall pay Executive an amount equal to twelve (12) months of
Executive’s highest Base Salary in effect at any time during the six (6) month period ending on the date of the Change of Control. For the purposes of the foregoing, Change of Control shall have the meaning set forth in the Company’s
2006 Incentive Compensation Plan (without regard to any subsequent amendments thereto). For purposes of the foregoing, “Good Reason” means the occurrence of any of the following: (i) a material diminution in the
Executive’s base compensation; (ii) a material diminution in the Executive’s authority, duties, or responsibilities; (iii) a material change in the geographic location at which the Employee must perform the services under this
Agreement; or (iv) any other action or inaction that constitutes a material breach by the Company of this Agreement. For purposes of this provision, Good Reason shall not be deemed to exist unless the Employee’s termination of employment
for Good Reason occurs within 2 years following the initial existence of one of the conditions specified in clauses (i) through (iv) above, the Employee provides the Company with written notice of the existence of such condition within 90
days after the initial existence of the condition, and the Company fails to remedy the condition within 30 days after its receipt of such notice. The Company shall pay the amount required under this paragraph 7(i) in a single payment thirty
(30) days after termination of the Term of Employment, subject to and conditioned upon the Executive’s execution of the General Release required pursuant to paragraph 7(k) hereof and

  
 5 

 
such release becoming irrevocable. Any payments made pursuant to this paragraph 7(j) will be in lieu of payments to which Executive might have been entitled under paragraph 7(e) of this Agreement
or under any other severance plan of the Company. The payments under this Agreement shall be reduced if and to the extent necessary to avoid any payments or benefits to Executive being treated as “excess parachute payments” within the
meaning of Internal Revenue Code Section 280G(b)(i). 
 (j) Clawback of Certain Compensation and Benefits. If, after the
termination of the Term of Employment for any reason other than by the Company for “justifiable cause”: 
 (i) it is
determined in good faith by the Company within twelve (12) months after the termination of the Term of Employment (the “Termination Date”) that the Executive’s employment could have been terminated by the Company for justifiable
cause under paragraph 7(d) hereof (unless the Company knew or should have known that as of the Termination Date, the Executive’s employment could have been terminated for justifiable cause in accordance with paragraph 7(d) hereof); or

 (ii) the Executive breaches any of the provisions of paragraph 10, then, in addition to any other remedy that may be
available to the Company in law or equity and/or pursuant to any other provisions of this Agreement, the Executive’s employment shall be deemed to have been terminated for justifiable cause retroactively to the Termination Date and the
Executive also shall be subject to the following provisions: 
 (A) the Executive shall be required to pay to the Company,
immediately upon written demand by the Company, all amounts paid to Executive by the Company, whether or not pursuant to this Agreement (other than such portion of Executive’s Base Salary and reimbursement of expenses pursuant to paragraph 4
hereof as have been accrued through the date of the termination of the Term of Employment), on or after the Termination Date (including the pre-tax cost to the Company of any benefits that are in excess of the total amount that the Company would
have been required to pay to the Executive if the Executive’s employment with the Company had been terminated by the Company for justifiable cause in accordance with paragraph 7(d) above); 

(B) all vested and unvested Awards (as that term is defined in the 2006 Incentive Compensation Plan) then held by the Executive shall
immediately expire; and 
 (C) the Executive shall be required to pay to the Company, immediately upon written demand by the
Company, an amount equal to any Gains resulting from the exercise or payment of any Awards (as that term is defined in the 2006 Incentive Compensation Plan) at any time on or after, or during the one year period prior to, the Termination Date. For
these purposes, the term “Gain” shall mean (i) in the case of each stock option or stock appreciation right (“SAR”), the difference between the fair market value per share of the Company’s common stock underlying such
option or SAR as of the date on which the Executive exercised the option or SAR, less the exercise price or grant price of the option or SAR; and (ii) in the case of any Award other than a stock option or SAR that is satisfied by
the issuance of Common Stock of the Company, the value of such stock on the 

  
 6 

 
Termination Date, and (iii) in the case of any Award other than a stock option or SAR, that is satisfied in cash or any property other than Common Stock of the Company,
the amount of cash and the value of the property on the payment date paid to satisfy the Award. 
 (k) Any
payment pursuant to paragraph 7(e) or 7(j) shall be contingent upon Executive’s execution of the General Release within 21 days after termination of the Term of Employment, and the Executive’s not revoking that release. 

 

	 	8.	COMPLIANCE WITH SECTION 409A 

 (a) General. It is the intention of both the Company and the Executive that the benefits and rights to which the Executive could be entitled pursuant to this Agreement comply with Section 409A
of the Code and the Treasury Regulations and other guidance promulgated or issued thereunder (“Section 409A”), to the extent that the requirements of Section 409A are applicable thereto, and the provisions of this Agreement shall be
construed in a manner consistent with that intention. If the Executive or the Company believes, at any time, that any such benefit or right that is subject to Section 409A does not so comply, it shall promptly advise the other and shall
negotiate reasonably and in good faith to amend the timing of such benefits and rights such that they comply with Section 409A (with the most limited possible economic effect on the Executive). 

(b) Distributions on Account of Separation from Service. If and to the extent required to comply with Section 409A, no payment or
benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

 (c) 6 Month Delay for “Specified Employees”. 

(i) If the Executive is a “specified employee”, then no payment or benefit that is payable on account of the Executive’s
“separation from service”, as that term is defined for purposes of Section 409A, shall be made before the date that is six months after the Executive’s “separation from service” (or, if earlier, the date of the
Executive’s death) if and to the extent that such payment or benefit constitutes deferred compensation (or may be nonqualified deferred compensation) under Section 409A and such deferral is required to comply with the requirements of
Section 409A. Any payment or benefit delayed by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule. There shall be added
to any payments that are delayed pursuant to this provision interest at the prime rate as reported in the Wall Street Journal for the date of the Executive’s separation from service. Such interest shall be calculated from the date on
which the payment otherwise would have been made until the date on which the payment is made. 
 (ii) For purposes of this
provision, the Executive shall be considered to be a “specified employee” if, at the time of his or her separation from service, the Executive is a “key employee”, within the meaning of Section 416(i) of the Code, of the
Company (or any person or entity with whom the Company would be considered a single employer under Section 414(b) or Section 414(c) of the Code) any stock in which is publicly traded on an established securities market or otherwise.

  
 7 

 (d) No Acceleration of Payments. Neither the Company nor the Executive, individually or in
combination, may accelerate any payment or benefit that is subject to Section 409A, except in compliance with Section 409A and the provisions of this Agreement, and no amount that is subject to Section 409A shall be paid prior to the
earliest date on which it may be paid without violating Section 409A. 
 (e) Treatment of Each Installment as a Separate
Payment. For purposes of applying the provisions of Section 409A to this Agreement, each separately identified amount to which the Executive is entitled under this Agreement shall be treated as a separate payment. In addition, to the extent
permissible under Section 409A, any series of installment payments under this Agreement shall be treated as a right to a series of separate payments. 
 (f) Taxable Reimbursements. 
 (i) Any reimbursements by the Company to the
Executive of any eligible expenses under this Agreement that are not excludable from the Executive’s income for Federal income tax purposes (the “Taxable Reimbursements”) shall be made by no later than the earlier of the date on which
they would be paid under the Company’s normal policies and the last day of the taxable year of the Executive following the year in which the expense was incurred. 
 (ii) The amount of any Taxable Reimbursements to be provided to the Executive during any taxable year of the Executive shall not affect the expenses eligible for reimbursement to be provided in any other
taxable year of the Executive. 
 (iii) The right to Taxable Reimbursements shall not be subject to liquidation or exchange for
another benefit. 
  

	 	9.	REPRESENTATION AND AGREEMENTS OF EXECUTIVE 

 (a) Executive represents and warrants that he is free to enter into this Agreement and to perform the duties required hereunder, and that there are no employment contracts or understandings, restrictive
covenants or other restrictions, whether written or oral, preventing the performance of his duties hereunder. 
 (b) Executive
agrees to submit to a medical examination and to cooperate and supply such other information and documents as may be required by any insurance company in connection with the Company’s obtaining life insurance on the life of Executive, and any
other type of insurance or fringe benefit as the Company shall determine from time to time to obtain. 
 (c) Executive
represents and warrants that he has never been convicted of a felony and he has not been convicted or incarcerated for a misdemeanor within the past five years, other than a first conviction for drunkenness, simple assault, speeding, minor traffic
violations, affray, or disturbance of the peace. 

  
 8 

 (d) Executive represents and warrants that he has never been a party to any judicial or
administrative proceeding that resulted in a judgement, decree, or final order (i) enjoining him from future violations of, or prohibiting any violations of any federal or state securities law, or (ii) finding any violations of any federal
or state securities law. 
 (e) Executive represents and warrants that he has never been accused of any impropriety in
connection with any employment; 
 Any breach of any of the above representations and warranties is “justifiable cause” for
termination under paragraph 7(d) of this Agreement. 
  

	 	10.	NON-COMPETITION 

 (a)
Executive agrees that during the Term of Employment and during the one (1) year period immediately following the Termination Date (the “Non-Competitive Period”), Executive shall not, directly or indirectly, as owner, partner, joint
venturer, stockholder, employee, broker, agent, principal, trustee, corporate officer, director, licensor, or in any capacity whatsoever, engage in, become financially interested in, be employed by, render any consultation or business advice with
respect to, accept any competitive business on behalf of, or have any connection with any business which is competitive with products or services of the Company or any subsidiaries and affiliates, in any geographic area in which the Company or any
of its subsidiaries or affiliates are then conducting or proposing to conduct business, including, without limitation, the United States of America and its possessions, Canada and Europe; provided, however, that Executive may own any securities of
any corporation which is engaged in such business and is publicly owned and traded but in an amount not to exceed at any one time one percent (1%) of any class of stock or securities of such corporation. In addition, Executive shall not, during
the Non-Competitive Period, directly or indirectly, request or cause any suppliers or customers with whom the Company or any of its subsidiaries or affiliates has a business relationship to cancel or terminate any such business relationship with the
Company or any of its subsidiaries or affiliates or otherwise compromise the Company’s good will or solicit, hire, interfere with or entice from the Company or any of its subsidiaries or affiliates any employee (or former employee who has been
separated from service for less than 12 months) of the Company or any of its subsidiaries or affiliates. 
 (b) If any portion
of the restrictions set forth in this paragraph 10 should, for any reason whatsoever, be declared invalid by a court of competent jurisdiction, the validity or enforceability of the remainder of such restrictions shall not thereby be adversely
affected. For the purposes of this paragraph 10, a business competitive with the products and services of the Company (or such subsidiaries and affiliates) is limited to a specialty retailer which primarily distributes, sells or markets so-called
“big and tall” apparel of any kind for men or which utilizes the “big and tall” retail or wholesale marketing concept as part of its business. 
 (c) Executive acknowledges that the Company conducts business throughout the world, that Executive’s duties and responsibilities on behalf of the Company are of a worldwide nature, that its sales and
marketing prospects are for continued expansion throughout the world and therefore, the territorial and time limitations set forth in this paragraph 10 are reasonable and properly required for the adequate protection of the business of the Company
and its subsidiaries 

  
 9 

 
and affiliates. In the event any such territorial or time limitation is deemed to be unreasonable by a court of competent jurisdiction, Executive agrees to the reduction of the territorial or
time limitation to the area or period which such court shall deem reasonable. 
 (d) The existence of any claim or cause of
action (a claim or cause of action is defined as a claim or cause of action which results from a breach of the terms and provisions of this Agreement by the Company, regardless of whether the breach is material) by Executive against the Company or
any subsidiary or affiliate shall not constitute a defense to the enforcement by the Company or any subsidiary or affiliate of the foregoing restrictive covenants, but such claim or cause of action shall be litigated separately. 

 

	 	11.	INVENTIONS AND DISCOVERIES 

 (a) Upon execution of this Agreement and thereafter, Executive shall promptly and fully disclose to the Company, and with all necessary detail for a complete understanding of the same, all existing and
future developments, know-how, discoveries, inventions, improvements, concepts, ideas, writings, formulae, processes and methods (whether copyrightable, patentable or otherwise) made, received, conceived, acquired or written during working hours, or
otherwise, by Executive (whether or not at the request or upon the suggestion of the Company) during the period of his employment with, or rendering of advisory or consulting services to, the Company or any of its subsidiaries and affiliates, solely
or jointly with others, in or relating to any activities of the Company or its subsidiaries and affiliates known to him as a consequence of his employment or the rendering of advisory and consulting services hereunder (collectively the “Subject
Matter”). 
 (b) Executive hereby assigns and transfers, and agrees to assign and transfer, to the Company, all his rights,
title and interest in and to the Subject Matter, and Executive further agrees to deliver to the Company any and all drawings, notes, specifications and data relating to the Subject Matter, and to execute, acknowledge and deliver all such further
papers, including applications for copyrights or patents, as may be necessary to obtain copyrights and patents for any thereof in any and all countries and to vest title thereto to the Company. Executive shall assist the Company in obtaining such
copyrights or patents during the term of this Agreement, and at any time thereafter on reasonable notice and at mutually convenient times, and Executive agrees to testify in any prosecution or litigation involving any of the Subject Matter;
provided, however, after the Term of Employment that Executive shall be compensated in a timely manner at the rate of $250 per day (or portion thereof), plus out-of-pocket expenses incurred in rendering such assistance or giving or preparing to give
such testimony if it is required after the termination of this Agreement. 
  

	 	12.	NON-DISCLOSURE OF CONFIDENTIAL INFORMATION 

 (a) Executive acknowledges that the Company possesses certain confidential and propriety information that has been or may be revealed to him or learned by Executive during the course of Executive’s
employment with the Company and that it would be unfair to use that information or knowledge to compete with or to otherwise disadvantage the Company. Executive shall not, during the Term of Employment or at any time following the Term of
Employment, directly or indirectly, disclose or permit to be known (other than as is required in the regular 

  
 10 

 
course of his duties (including without limitation disclosures to the Company’s advisors and consultants), as required by law (in which case Executive shall give the Company prior written
notice of such required disclosure) or with the prior written consent of the Board of Directors, to any person, firm, corporation, or other entity, any confidential information acquired by him during the course of, or as an incident to, his
employment or the rendering of his advisory or consulting services hereunder, relating to the Company or any of its subsidiaries or affiliates, the directors of the Company or its subsidiaries or affiliates, any supplier or customer of the Company
or any of their subsidiaries or affiliates, or any corporation, partnership or other entity owned or controlled, directly or indirectly, by any of the foregoing, or in which any of the foregoing has a beneficial interest, including, but not limited
to, the business affairs of each of the foregoing. Such confidential information shall include, but shall not be limited to, proprietary technology, trade secrets, patented processes, research and development data, know-how, market studies and
forecasts, financial data, competitive analyses, pricing policies, employee lists, personnel policies, the substance of agreements with customers, suppliers and others, marketing or dealership arrangements, servicing and training programs and
arrangements, supplier lists, customer lists and any other documents embodying such confidential information. This confidentiality obligation shall not apply to any confidential information, which is or becomes publicly available other than pursuant
to a breach of this paragraph 12(a) by Executive. 
 (b) All information and documents relating to the Company and its
subsidiaries or affiliates as herein above described (or other business affairs) shall be the exclusive property of the Company, and Executive shall use commercially reasonable best efforts to prevent any publication or disclosure thereof. Upon
termination of Executive’s employment with the Company, all documents, records, reports, writings and other similar documents containing confidential information, including copies thereof then in Executive’s possession or control shall be
returned and left with the Company. 
  

	 	13.	SPECIFIC PERFORMANCE 

 Executive agrees
that if he breaches, or threatens to commit a breach of, any enforceable provision of paragraphs 10, 11 or 12 (the “Restrictive Covenants”), the Company shall have, in addition to, and not in lieu of, any other rights and remedies
available to the Company under law and in equity, the right to have the Restrictive Covenants specifically enforced by a court of competent jurisdiction, it being agreed that any such breach or threatened breach of the Restrictive Covenants would
cause irreparable injury to the Company and that money damages would not provide an adequate remedy to the Company. Notwithstanding the foregoing, nothing herein shall constitute a waiver by Executive of his right to contest whether such a breach or
threatened breach of any Restrictive Covenant has occurred. In the event of litigation between the parties to this Agreement regarding their respective rights and obligations under paragraphs 10, 11, or 12 hereof, the prevailing party shall be
entitled to recover from the other all attorneys’ fees and expenses reasonably incurred in obtaining a ruling in the prevailing party’s favor. Any such damages, attorneys’ fees and costs shall be in addition to and not in lieu of any
injunctive relief that may be available to the Company. 

  
 11 

	 	14.	AMENDMENT OR ALTERATION 

No amendment or alteration of the terms of this Agreement shall be valid unless made in writing and signed by both of the parties hereto.

  

	 	15.	GOVERNING LAW 

 This
Agreement shall be governed by, and construed and enforced in accordance with the substantive laws of the Commonwealth of Massachusetts, without regard to its principles of conflicts of laws. 

 

	 	16.	SEVERABILITY 

 The
holding of any provision of this Agreement to be invalid or unenforceable by a court of competent jurisdiction shall not affect any other provision of this Agreement, which shall remain in full force and effect. 

 

	 	17.	NOTICES 

 Any notices
required or permitted to be given hereunder shall be sufficient if in writing, and if delivered by hand or courier, or sent by certified mail, return receipt requested, to the addresses set forth above or such other address as either party may from
time to time designate in writing to the other, and shall be deemed given as of the date of the delivery or of the placement of the notice in the mail. 
  

	 	18.	WAIVER OR BREACH 

 It is
agreed that a waiver by either party of a breach of any provision of this Agreement shall not operate, or be construed as a waiver of any subsequent breach by that same party. 

 

	 	19.	ENTIRE AGREEMENT AND BINDING EFFECT 

 This Agreement contains the entire agreement of the parties with respect to the subject matter hereof and shall be binding upon and inure to the benefit of the parties hereto and their respective legal
representatives, heirs, distributors, successors and assigns and supersedes any and all prior agreements between the parties whether oral or written. This Agreement may not be modified except upon further written agreement executed by both parties.
Executive agrees that the Company may in its sole discretion, during the term of Executive’s employment with the Company and thereafter, provide copies of this Agreement (or excerpts of the Agreement) to others, including businesses or entities
that may employ, do business with, or consider employing Executive in the future. Executive further agrees that any subsequent change or changes in his duties, compensation or areas of responsibility shall in no way affect the validity of this
Agreement or otherwise render inapplicable any of the provisions of paragraphs 10 through 13 of this Agreement, which shall remain in full force and effect except as may be modified by a subsequent written agreement. 

  
 12 

	 	20.	SURVIVAL 

 Except as
otherwise expressly provided herein, the termination of Executive’s employment hereunder or the expiration of this Agreement shall not affect the enforceability of paragraphs 4(b) and 7 through 26 hereof, which shall survive the termination or
expiration. 
  

	 	21.	RESOLUTION OF DISPUTES 

Any and all disputes arising under or in connection with this Agreement shall be resolved in accordance with this paragraph 21 and
paragraph 15. 
 The parties shall attempt to resolve any dispute, controversy or difference that may arise between them through
good faith negotiations. In the event the parties fail to reach resolution of any such dispute within thirty (30) days after entering into negotiations, either party may proceed to institute action in any state or federal court located within
the Commonwealth of Massachusetts, which courts shall have exclusive jurisdiction, and each party consents to the personal jurisdiction of any such state or federal court. Both parties waive their right to a trial by jury. 

 

	 	22.	NON-DISPARAGEMENT 

Executive agrees not to make disparaging, critical or otherwise detrimental comments to any person or entity concerning the Company, its
officers, directors, trustees, and employees or the services or programs provided or to be provided by the Company and the Company agrees not to make any disparaging, critical or otherwise detrimental comments to any person or entity concerning
Executive. 
  

	 	23.	FURTHER ASSURANCES 

 The
parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further action as may be necessary or appropriate to carry out the purposes and intent of this Agreement. 

 

	 	24.	SUBSIDIARIES AND AFFILIATES 

 For
purposes of this Agreement: 
 (a) “affiliate” means any entity that controls, is controlled by, or is under common
control with, the Company, and “control” means the power to exercise a controlling influence over the management or policies of an entity, unless such power is solely the result of an official position with such entity; and 

(b) “subsidiary” means any corporation or other entity in which the Company has a direct or indirect ownership interest of 50%
or more of the total combined voting power of the then outstanding securities or interests of such corporation or other entity entitled to vote generally in the election of directors (or similar governing body of a non-corporate entity) or in which
the Company has the right to receive 50% or more of the distribution of profits or 50% or more of the assets on liquidation or dissolution. 

  
 13 

	 	25.	HEADINGS 

 The paragraph
headings appearing in this Agreement are for the purposes of easy reference and shall not be considered a part of this Agreement or in any way modify, amend or affect its provisions. 

 

	 	26.	COUNTERPARTS 

 This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same agreement. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement, under seal, as of the date and year first above written. 

 

									
	CMRG APPAREL, LLC.
					
	By:	 	 /s/ David A. Levin
	 		 	Date:	 	 6/19/2012

	Name:	 	David A. Levin	 		 		 	
	Its:	 	President, Chief Executive Officer	 		 		 	
					
	By:	 	 /s/ Dennis R. Hernreich
	 		 	Date:	 	 6/21/2012

	Name:	 	Dennis R. Hernreich	 		 		 	
	Its:	 	Executive VP, COO, CFO	 		 		 	
				
	 /s/ Derrick Walker
	 		 	Date:	 	 6/14/2012

	Derrick Walker	 		 		 	

  
 14 

 EXHIBIT A 

FORM OF RELEASE 
 GENERAL RELEASE OF CLAIMS 
 1. Derrick Walker
(“Executive”), for himself and his family, heirs, executors, administrators, legal representatives and their respective successors and assigns, in exchange for good and valuable consideration to be paid after the date of his
termination as set forth in the Employment Agreement to which this release is attached as Exhibit A (the “Employment Agreement”), does hereby release and forever discharge CMRG Apparel, LLC (the “Company”), its
parents, subsidiaries, affiliated companies, successors and assigns, and their respective current or former directors, officers, employees, shareholders or agents in such capacities (collectively with the Company, the “Released
Parties”) from any and all actions, causes of action, suits, controversies, claims and demands whatsoever, for or by reason of any matter, cause or thing whatsoever, whether known or unknown including, but not limited to, all claims under
any applicable laws arising under or in connection with Executive’s employment or termination thereof, whether for tort, breach of express or implied employment contract, wrongful discharge, intentional infliction of emotional distress, or
defamation or injuries incurred on the job or incurred as a result of loss of employment. Executive acknowledges that the Company encouraged him to consult with an attorney of his choosing, and through this General Release of Claims encourages him
to consult with his attorney with respect to possible claims under the Age Discrimination in Employment Act (“ADEA”) and that he understands that the ADEA is a Federal statute that, among other things, prohibits discrimination on
the basis of age in employment and employee benefits and benefit plans. Without limiting the generality of the release provided above, Executive expressly waives any and all claims under ADEA that he may have as of the date hereof. Executive further
understands that by signing this General Release of Claims he is in fact waiving, releasing and forever giving up any claim under the ADEA as well as all other laws within the scope of this paragraph 1 that may have existed on or prior to the date
hereof. Notwithstanding anything in this paragraph 1 to the contrary, this General Release of Claims shall not apply to (i) any rights to receive any payments pursuant to paragraph 7 of the Employment Agreement, or any accrued but unpaid
benefits under any employee benefit plan maintained by the Company (ii) any rights or claims that may arise as a result of events occurring after the date this General Release of Claims is executed, (iii) any indemnification rights
Executive may have as a former officer or director of the Company or its subsidiaries or affiliated companies, (iv) any claims for benefits under any directors’ and officers’ liability policy maintained by the Company or its
subsidiaries or affiliated companies in accordance with the terms of such policy, (v) any rights as a holder of equity securities of the Company, and (vi) any rights or claims that, by law, may not be waived, including claims for
unemployment compensation and workers’ compensation. Nothing contained in this Agreement prevents you from filing a charge, cooperating with or participating in any investigation or proceeding before any federal or state Fair Employment
Practices Agency, including, without limitation, the Equal Employment Opportunity Commission, except that you acknowledge that you will not be able to recover any monetary benefits in connection with any such claim, charge or proceeding. 

  
 15 

 2. Executive represents that he has not filed against the Released Parties any complaints,
charges, or lawsuits arising out of his employment, or any other matter arising on or prior to the date of this General Release of Claims, and covenants and agrees that he will never individually or with any person file, or commence the filing of,
any charges, lawsuits, complaints or proceedings with any governmental agency, or against the Released Parties with respect to any of the matters released by Executive pursuant to paragraph 1 hereof (a “Proceeding”);
provided, however, Executive shall not have relinquished his right to commence a Proceeding to challenge whether Executive knowingly and voluntarily waived his rights under ADEA. 

3. Executive hereby acknowledges that the Company has informed him that he has up to twenty-one (21) days to sign this General
Release of Claims and he may knowingly and voluntarily waive that twenty-one (21) day period by signing this General Release of Claims earlier. Executive also understands that he shall have seven (7) days following the date on which he
signs this General Release of Claims within which to revoke it by providing a written notice of his revocation to the Company. 

4. Executive acknowledges that this General Release of Claims will be governed by and construed and enforced in accordance with the
internal laws of the Commonwealth of Massachusetts applicable to contracts made and to be performed entirely within such State. 

5. Executive acknowledges that he has read this General Release of Claims, that he has been advised that he should consult with an
attorney before he executes this general release of claims, and that he understands all of its terms and executes it voluntarily and with full knowledge of its significance and the consequences thereof. 

6. This General Release of Claims shall take effect on the eighth day following Executive’s execution of this General Release of
Claims unless Executive’s written revocation is delivered to the Company within seven (7) days after such execution. 
  

	
	  

	Derrick Walker

  
 16

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