Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO 

REGISTRATION RIGHTS AGREEMENT 

This FIRST AMENDMENT TO REGISTRATION RIGHTS AGREEMENT (this “First Amendment”) is made and entered into effective as
of January 5, 2018 by and between WMIH Corp., a Delaware corporation (the “Company”), and each of the signatories hereto. 

RECITALS: 
 WHEREAS,
in connection with an offering of 600,000 shares of its 3.00% Series B Convertible Preferred Stock, par value $0.00001 per share (the “Series B Preferred Stock”), and pursuant to that certain Purchase Agreement, dated
December 19, 2014 (the “Purchase Agreement”), by and among the Company, Citigroup Global Markets Inc. (“Citi”) and KKR Capital Markets LLC (“KCM” and, together with Citi,
the “Initial Purchasers”), the Company entered into a Registration Rights Agreement with the Initial Purchasers (as amended, restated or otherwise modified from time to time, including as a result of the execution and
delivery of this First Amendment, the “Registration Rights Agreement”); 
 WHEREAS, concurrently with the
execution and delivery of this First Amendment, the Company has filed a Certificate of Amendment of the Amended and Restated Certificate of Incorporation of WMIH Corp. (the “Certificate of Amendment”), whereby, on the
Amendment Effective Time (as defined in the Certificate of Amendment), Article VI of the Amended and Restated Certificate of Incorporation of WMIH Corp. (as amended, restated or otherwise modified from time to time, including as a result of the
filing of the Certificate of Amendment, the “Charter”), which governs the Series B Preferred Stock, shall be amended as more fully set forth in the Certificate of Amendment; 

WHEREAS, pursuant to the Registration Rights Agreement, the Company filed a shelf registration statement on Form S-3 (as amended, the “Registration Statement”) covering resales of Series B Preferred Stock and the Company’s Common Stock issuable upon mandatory conversion of the Series B Preferred
Stock, which was amended on November 23, 2015 and declared effective by the SEC under the Securities Act on November 25, 2015; 

WHEREAS, in connection with the filing of the Certificate of Amendment, the Company and the signatories hereto desire to make certain
amendments to the Registration Rights Agreement and subject to the terms and conditions set forth herein and for other good and valuable consideration, the mutuality, receipt and sufficiency of which are hereby acknowledged, the Company and the
signatories hereto are willing to do so, all as set forth herein; and 
 WHEREAS, pursuant to Section 8(b) of the Registration
Rights Agreement, such amendments will be binding on all Holders, whether or not party thereto. 

  
 1 

 NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements
set forth herein and other good and valuable consideration, the mutuality, receipt and sufficiency of which are hereby acknowledged, each of the parties hereto hereby agree and, pursuant to Section 8(b) of the Registration Rights Agreement, all
other Holders not party hereto are hereby deemed to agree as follows: 
 Section 1. Amendments to Registration Rights
Agreement. Effective as of the Amendment Effective Time, the Registration Rights Agreement is hereby amended (a) to delete the red stricken text (indicated textually in the same manner as the following example: stricken text) and (b) to add the blue double-underlined text (indicated textually in the same manner as the following example:
double-underlined text), in each case, as set forth in the marked copy of
the Registration Rights Agreement attached hereto as Exhibit A hereto and made a part hereof for all purposes. 

Section 2. No Additional Changes. Except as expressly and specifically amended by this First Amendment, all
provisions of the Registration Rights Agreement shall remain in full force and effect according to their terms, and the Holders shall continue to be bound by such Registration Rights Agreement as modified by this First Amendment. In the event of any
conflict between any provision of the Registration Rights Agreement and this First Amendment, this First Amendment shall control. From and after the date hereof, all references in the Registration Rights Agreement to “this Agreement” shall
mean the Registration Rights Agreement as amended by this First Amendment. 
 Section 3. Miscellaneous. 

3.1. Successors and Assigns. This First Amendment shall inure to the benefit of and be binding upon the successors and
assigns of each of the parties, without the need for an express assignment or any consent by the Company or subsequent Holders. The Company hereby agrees to extend the benefits of this First Amendment to any Holder and any such Holder may enforce
the provisions of this First Amendment as if an original party hereto. In the event that any other person shall succeed to the Company’s interests and obligations, then such successor shall enter into an agreement, in form and substance
reasonably satisfactory to the Initial Purchasers, whereby such successor shall assume all of the Company’s obligations under this First Amendment. 

3.2. Counterparts. This First Amendment may be executed in any number of counterparts and by the parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

3.3. GOVERNING LAW. THIS FIRST AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WITHIN THE STATE OF NEW YORK. 
 3.4. Severability. In the
event that any one or more of the provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision
in every other respect and of the remaining provisions hereof shall not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by
law.  
 [SIGNATURES APPEAR ON FOLLOWING PAGES] 
  

  
 2 

 IN WITNESS WHEREOF, this First Amendment has been duly executed effective as of the day and year
first written above. 
  

			
	WMIH CORP.
		
	By:	 	 /s/ Charles Edward Smith

	Name:	 	Charles Edward Smith
	Title:	 	Executive Vice President

 [Signature Page to Amendment to Registration Rights Agreement] 

 
			
	KKR Wand Investors L.P.
		
	By:	 	 /s/ Tagar C. Olson

	Name:	 	Tagar C. Olson
	Title:	 	

 [Signature Page to Amendment to Registration Rights Agreement] 

 

 
			
	Growth Value Securities Ltd.
		
	By:	 	 /s/ Gary Linford

	Name:	 	Gary Linford
	Title:	 	Director

 [Signature Page to Amendment to Registration Rights Agreement] 

 

 
			
	Teacher Retirement System of Texas, a public pension fund and entity of the State of Texas
		
	By:	 	 /s/ K.J. Van AcKeren

	Name:	 	K.J. Van AcKeren
	Title:	 	Senior Director

 [Signature Page to Amendment to Registration Rights Agreement] 

 
			
	Greywolf Strategic Master Fund Ltd - MSP1, by Greywolf Capital Management LP, its investment manager
		
	By:	 	 /s/ Jeffrey Silva

	Name:	 	Jeffrey Silva
	Title:	 	Chief Financial Officer

 [Signature Page to Amendment to Registration Rights Agreement] 

 
			
	Greywolf Strategic Master Fund Ltd - MSP6, by Greywolf Capital Management LP, its investment manager
		
	By:	 	 /s/ Jeffrey Silva

	Name:	 	Jeffrey Silva
	Title:	 	Chief Financial Officer

 [Signature Page to Amendment to Registration Rights Agreement] 

 
			
	GCP Europe Sarl
		
	By:	 	 /s/ Joan Lederer

	Name:	 	Joan Lederer
	Title:	 	Manager A
		
	By:	 	 /s/ Jan Willem Overheul

	Name:	 	Jan Willem Overheul
	Title:	 	Manager B

 [Signature Page to Amendment to Registration Rights Agreement] 

 
			
	Greywolf Opportunities Fund II, LP, by Greywolf Capital Management LP, its investment manager
		
	By:	 	 /s/ Jeffrey Silva

	Name:	 	Jeffrey Silva
	Title:	 	Chief Financial Officer

 [Signature Page to Amendment to Registration Rights Agreement] 

 Exhibit A to the First Amendment 

[Attached] 

  
 Exhibit A-1 

 1. Definitions. Capitalized terms used herein without definition shall have the respective
meanings set forth in the Purchase Agreement. As used in this Agreement, the following capitalized terms shall have the following meanings: 

“Affiliate” of any specified person means any other person directly or indirectly controlling or controlled by or under
common control with such specified person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as
used with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person whether through the ownership of voting securities or by agreement or
otherwise.  

“Amendment Effective
Time” has the meaning set forth in Article VI of the Charter. 

“Business Day” has the meaning set forth in the Purchase Agreement.  

“Certificate of Designation” means the Certificate of
Designation relating to the Convertible Preferred Stock, dated January 5, 2015, filed with the Secretary of State of the State of Washington on or before the Closing Date and any subsequent Certificate of Designation relating to the Convertible
Preferred Stock filed with the Secretary of State in Delaware. 
 “Charter” means the Amended and Restated Certificate of Incorporation of WMIH Corp., as amended from time to time, including
by the Certificate of Amendment of the Amended and Restated Certificate of Incorporation of WMIH Corp., filed on [•], 2017. 

“Closing Date” means January 5, 2015. 
 “Common Stock” means the common stock, par value $0.00001 per share, of the
Company, as it exists on the date of this Agreement
Amendment Effective Time and any other shares of capital stock or
other securities of the Company into which such Common Stock may be reclassified or changed, together with any and all other securities which may from time to time be issuable
upon mandatory conversion of the(x) issuable upon the Mandatory Conversion of shares of Convertible Preferred Stock, (y) issuable as Regular Dividends (whether on a Regular
Dividend Payment Date or on a Mandatory Conversion Date) and (z) issuable as a Special Distribution. 

“Company” has the meaning set forth in the preamble hereto
and includes any entity resulting from WMI Holdings means WMIH
Corp. merging
into, a Delaware corporation upon a reincorporation.  

“Convertible Preferred Stock” has the meaning set forth in
the preamble hereto means the 600,000 authorized shares of the Company’s 5.00% Series B Convertible Preferred
Stock, par value $0.00001 per share. 
 “DTC” means The
Depository Trust Company or its nominee.  

  
 Exhibit A-2 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the SEC promulgated thereunder.  
 “FINRA” has the meaning set forth in
Section 3(i) hereof.  
 “Holder” means a person who is a registered holder or beneficial owner of any
Transfer Restricted Securities (including the Initial Purchasers).  
 “Holder Information” with respect to any
Holder means information with respect to such Holder and the distribution of such Holders’ Transfer Restricted Securities required to be included in any Shelf Registration Statement or the related Prospectus, or any amendment or supplement
thereto, pursuant to the Securities Act and which information is included therein in reliance upon and in conformity with information furnished to the Company in writing by such Holder for inclusion therein.  

“Initial Placement” has the meaning set forth in the preamble hereto.  

“Initial Purchasers” mean Citigroup Global Markets Inc. and KKR Capital Markets LLC.  

“Majority Holders” means the Holders of a majority in voting power of the then outstanding Transfer Restricted
Securities.  

“Mandatory
Conversion” has the meaning set forth in the Charter. 
 “Mandatory Conversion Date” has the meaning set forth in the Charter.

 “Offering Memorandum” means the Final
Memorandum as defined in the Purchase Agreement. 

“person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint stock
company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity.  

“Prospectus” means the prospectus included in any Shelf Registration Statement (including, without limitation, a prospectus
that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any shares of Convertible Preferred Stock or shares of Common Stock issuable upon mandatory conversion thereof covered by such Shelf Registration Statement, including all documents incorporated or deemed to be incorporated
by reference in such prospectus.  
 “Purchase Agreement” has the meaning set forth in the preamble hereto
means that certain Purchase Agreement, dated December 19, 2014, by and among the Company, Citigroup Global Markets Inc. and
KKR Capital Markets LLC. 
 “Regular Dividends” has the meaning set forth in the Charter.

  
 Exhibit A-3 

“Regular Dividend
Payment Date” has the meaning set forth in the Charter. 

“Rule 144” means Rule 144 under the Securities Act (or any similar provision then in force).  

“Rule 144A” means Rule 144A under the Securities Act (or any successor provision promulgated by the SEC).  

“Rule 415” means Rule 415 under the Securities Act (or any successor provision promulgated by the SEC).  

“SEC” means the Securities and Exchange Commission.  

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder.  
 “Shelf Registration” means a registration effected pursuant to Section 2
hereof.  
 “Shelf Registration Statement” means any “shelf” registration statement of the Company
filed pursuant to the provisions of Section 2 hereof which covers the Transfer Restricted Securities on Form S-3 (if then eligible) or on another appropriate form, including Form S-1 (as determined by the
Company), for an offering to be made on a delayed or continuous basis
pursuant to Rule 415 and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all documents incorporated or deemed to be
incorporated by reference therein.  

“Special
Distribution” has the meaning set forth in the Charter. 

“Transfer Agent” means Computershare Trust Company, N.A. or any successor that serves as transfer agent with respect to the
Convertible Preferred Stock.  
 “Transfer Restricted Securities” means each share of Convertible Preferred
Stock and each share of Common Stock (x) issuable upon mandatory conversion of the
Mandatory Conversion of shares of Convertible Preferred Stock,
(y) issuable as Regular Dividends (whether on a Regular Dividend Payment Date or on a Mandatory Conversion Date) and
(z) issuable as a Special Distribution until the earliest of the date on which such share of Convertible Preferred Stock or share of Common Stock, as the case may be, (i) has been
transferred pursuant to a Shelf Registration Statement or another registration statement covering such share of Convertible Preferred Stock or share of Common Stock which has been filed with the SEC pursuant to the Securities Act, in either case
after such registration statement has become effective and while such registration statement is effective under the Securities Act, (ii) has been transferred pursuant to Rule 144 under circumstances in which any legend borne by such share of
Convertible Preferred Stock or share of Common Stock relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed, (iii) may be freely sold or transferred without restriction under Rule 144 or
(iv) the date on which such share of Convertible Preferred Stock or share of Common Stock ceases to be outstanding. 

  
 Exhibit A-4 

 All references in this Agreement to financial statements and schedules and other information
which is “contained,” “included,” or “stated” in the Shelf Registration Statement, any preliminary Prospectus or Prospectus (and all other references of like import) shall be deemed to mean and include all such
financial statements and schedules and other information incorporated or deemed to be incorporated by reference in such Shelf Registration Statement, preliminary Prospectus or Prospectus, as the case may be; and all references in this Agreement to
amendments or supplements to the Shelf Registration Statement, any preliminary Prospectus or Prospectus shall be deemed to mean and include any document filed with the SEC under the Exchange Act, after the date of such Shelf Registration Statement,
preliminary Prospectus or Prospectus, as the case may be, which is incorporated or deemed to be incorporated by reference therein (which shall not include, unless incorporated therein, documents and information furnished and not filed under
applicable SEC rules). 
 2. Shelf Registration Statement. 

(a) The Company shall, at its expense, use its reasonable efforts to prepare and file with the SEC within six months following the Closing Date as promptly as
practicable after the Amendment Effective Time (but no later than June 15, 2018) a Shelf Registration Statement with respect to resales by each Holder from time to time on a delayed or continuous basis pursuant to Rule 415 (or any similar provisions in force) of shares of Common Stock issuable upon mandatory
conversion(x) issuable upon the Mandatory Conversion of
shares of Convertible Preferred Stock, (y) issuable as Regular Dividends (whether on a Regular Dividend Payment Date or on
a Mandatory Conversion Date) and (z) issuable as a Special Distribution that are Transfer Restricted Securities by
each Holder from time to time on a delayed or continuous basis pursuant to Rule 415 (or any similar provisions then in force). 

(b) The Company shall, at its expense, use its reasonable efforts to prepare and file with the SEC within one year following the Closing Date as promptly as
practicable after the Amendment Effective Time (but no later than June 15, 2018) a Shelf Registration Statement with respect to resales of shares of Convertible Preferred Stock that are
Transfer Restricted Securities by each Holder from time to time on a delayed or continuous basis pursuant to Rule 415 (or any similar provisions then in force). If eligible, the Company may satisfy the requirement to file a Shelf Registration
Statement pursuant to this Section 2(b) by registering for resale the Convertible Preferred Stock on the Shelf Registration Statement required to be filed under Section 2(a) above. 

(c) The Company shall use its reasonable efforts to cause each Shelf Registration Statement described in 2(a) and 2(b) above to be declared
effective under the Securities Act. 
 (d) The Company shall use its reasonable efforts to name each Holder of Transfer Restricted Securities
as a selling shareholder in each Shelf Registration Statement at the time of its effectiveness so that such Holder is permitted to deliver the Prospectus forming a part thereof as of such time to purchasers of such Holder’s Transfer Restricted
Securities in accordance with applicable law. The Company may require each Holder of Transfer Restricted Securities to be sold pursuant to any Shelf Registration Statement to furnish to the Company such information (including, but not limited to, by
completing questionnaires within a reasonable timeframe 

  
 Exhibit A-5 

 
established by the Company) regarding the Holder and the proposed distribution of such Transfer Restricted Securities as may, from time to time, be required by the Securities Act and/or the SEC
or any other federal or state governmental authority, and the obligations of the Company to any Holder under this Agreement shall be expressly conditioned on the timely compliance of such Holder with such request. 

(e) After a Shelf Registration Statement has become effective, the Company shall, upon the request of any Holder of Transfer Restricted
Securities, use its reasonable efforts to promptly prepare and file with the SEC (x) a supplement to the Prospectus or, if required by applicable law in order to cause a Holder to be named as a selling shareholder in the Shelf Registration
Statement, a post-effective amendment to the Shelf Registration Statement (a “Seller Post-Effective Amendment”) and (y) any other document required by applicable law, so that the Holder is named as a selling shareholder in the
Shelf Registration Statement and is permitted to deliver the Prospectus to purchasers of such Holder’s Transfer Restricted Securities in accordance with applicable law. If the Company files a Seller Post-Effective Amendment, it shall use its
reasonable efforts to cause such post-effective amendment to become effective under the Securities Act as promptly as is practicable. Notwithstanding the foregoing requirement above, the Company shall not be obligated to file more than one Seller
Post-Effective Amendment in any fiscal quarter. 
 (f) (i) The Company shall use its reasonable efforts, subject to
Section 2(f)(ii), to keep the Shelf Registration Statement continuously effective, supplemented and amended under the Securities Act in order to permit the Prospectus forming a part thereof to be usable, subject to Sections 2(d) and 2(e), by
all Holders until all Transfer Restricted Securities (A) have been transferred pursuant to a Shelf Registration Statement or another registration statement covering such Transfer Restricted Securities which has been filed with the SEC pursuant
to the Securities Act, in either case after such registration statement has become effective and while such registration statement is effective under the Securities Act, (B) have been transferred pursuant to Rule 144 under circumstances in
which any legend borne by such Transfer Restricted Securities relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed, (C) may be sold or transferred without restriction under Rule 144 or
(D) have ceased to be outstanding (in any such case, such period being called the “Shelf Registration Period”). The Company will (x) subject to Sections 2(d) and 2(e), use its reasonable efforts to prepare and file with
the SEC such amendments and post-effective amendments to the Shelf Registration Statement as may be necessary to keep the Shelf Registration Statement continuously effective for the Shelf Registration Period, subject to Section 2(f)(ii), (y)
subject to Sections 2(d) and 2(e), cause the related Prospectus to be supplemented by any required supplement, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under the Securities Act and
(z) comply in all material respects with the provisions of the Securities Act with respect to the Shelf Registration Statement during the Shelf Registration Period. 

(ii) Notwithstanding anything herein to the contrary, the Company may suspend the filing or use of the Shelf Registration
Statement or any Prospectus, if the Company shall have determined in good faith that because of valid business reasons, including without limitation any proposal or plan of the Company or any of its subsidiaries to effect a merger, acquisition,
disposition, financing, reorganization, recapitalization or other transaction, or because of 

  
 Exhibit A-6 

 
required disclosure or filings with the SEC, it is in the best interests of the Company to suspend such use, and prior to suspending such use the Company provides the Holders with written notice
of such suspension, which notice need not specify the nature of the event giving rise to such suspension (and, upon receipt of such notice, each Holder agrees not to sell any Transfer Restricted Securities pursuant to the Shelf Registration
Statement until such Holder is advised in writing that the Prospectus may be used, which notice the Company agrees to provide promptly following the lapse of the event or circumstances giving rise to such suspension). Each Holder shall keep
confidential any communications received by it from the Company regarding the suspension of the use of the Prospectus (including the fact of the suspension), except as required by applicable law. 

(g) Notwithstanding anything herein to the contrary, the Company shall not be required to file a Shelf Registration Statement that pursuant to
(i) any written or oral guidance, comments, requirements or requests of the SEC staff and (ii) the Securities Act, would be deemed to constitute a primary offering of securities by it. 

(h) Notwithstanding anything
herein to the contrary, the Company’s obligations to file and maintain a Shelf Registration Statement hereunder shall cease upon the date that (i) no Transfer Restricted Securities remain outstanding or (ii) the Company is no longer
eligible to file and maintain a Shelf Registration Statement. 
 3.
Registration Procedures. In connection with any Shelf Registration Statement, the following provisions shall apply, subject to Section 2(f)(ii): 

(a) The Company shall (i) furnish to the Initial Purchasers, within a reasonable period of time, but in any event within five Business
Days, prior to the filing thereof with the SEC to afford the Initial Purchasers and their counsel a reasonable opportunity for review, a copy of each Shelf Registration Statement, and each amendment thereof, and a copy of each Prospectus, and each
amendment or supplement thereto proposed to be filed (excluding (x) amendments caused by the filing of a report under the Exchange Act and (y) amendments and supplements that are filed solely for the purpose of naming a Holder as a selling
shareholder and providing information with respect thereto), and shall use its reasonable efforts to reflect in each such document, when so filed with the SEC, such comments as the Initial Purchasers may reasonably propose in good faith within three
Business Days of the delivery of such copies to the Initial Purchasers and their counsel, except to the extent the Company reasonably determines, on the advice of counsel, it to be inadvisable or inappropriate to reflect such comments therein, and
(ii) include information regarding the Holders and the methods of distribution they have elected for their Transfer Restricted Securities as necessary to permit such distribution by the methods specified therein. Each Holder who sells,
transfers or disposes of Transfer Restricted Securities pursuant to a Shelf Registration Statement shall, as a condition to the obligations of the Company hereunder, do so only in accordance with the terms of this Agreement, the methods of
distribution elected by such Holder, the Securities Act and the Exchange Act, and shall be responsible for the delivery of the Prospectus as may be required to any person to whom such Holder sells any of the Transfer Restricted Securities Each
Holder, following the termination of the Shelf Registration Period, shall notify the Company, within 10 Business Days of a request by the Company, of the amount of the Transfer Restricted Securities sold pursuant to any Shelf Registration Statement
and, in the absence of a response, the Company may assume that all of such Holder’s Transfer Restricted Securities were so sold. 

  
 Exhibit A-7 

 (b) The Company shall ensure that (i) any Shelf Registration Statement and any amendment
thereto and any Prospectus forming a part thereof and any amendment or supplement thereto comply in all material respects with the Securities Act and the rules and regulations thereunder, (ii) any Shelf Registration Statement and any amendment
thereto does not, when it becomes effective, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading and (iii) any Prospectus
forming a part of any Shelf Registration Statement, and any amendment or supplement to such Prospectus, does not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in
light of the circumstances under which they were made, not misleading; provided that the Company makes no representation with respect to any Holder Information. 

(c) The Company, as promptly as reasonably practicable (but in any event within three Business Days following the occurrence of any of the
events specified in (i) – (vii) below), shall notify the Initial Purchasers and each Holder and, if requested by you or any such Holder, confirm such notice in writing: 

(i) when a Shelf Registration Statement or any post-effective amendment thereto or any Prospectus or any amendment or
supplement thereto has been filed with the SEC and when the Shelf Registration Statement or any post-effective amendment thereto has become effective, which notice and confirmation may be made at the election of the Company by making a public
announcement thereof by a press release; 
 (ii) of any request, following effectiveness of the Shelf Registration Statement
under the Securities Act, by the SEC or any other federal or state governmental authority for amendments or supplements to the Shelf Registration Statement or the Prospectus or for additional information (other than any such request relating to a
review of the Company’s Exchange Act filings); 
 (iii) of the issuance by the SEC or any other federal or state
governmental authority of any stop order suspending the effectiveness of the Shelf Registration Statement or of any order preventing or suspending the use of any Prospectus or the initiation or threat of any proceedings for that purpose; 

(iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from
qualification of the Transfer Restricted Securities included in any Shelf Registration Statement for sale in any jurisdiction or the initiation or threat of any proceeding for that purpose; 

(v) of the occurrence (but not the nature of or details surrounding) any event or the existence of any condition or any
information becoming known that requires the making of any changes in any Shelf Registration Statement or the Prospectus or any document incorporated by reference therein so that, as of such date, the statements therein are not

  
 Exhibit A-8 

 
misleading and any Shelf Registration Statement or the Prospectus or any document incorporated by reference therein, as the case may be, does not include an untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading, provided, however, that
no notice by the Company shall be required pursuant to this clause (v) in the event the Company promptly files a Prospectus supplement to update the Prospectus, a post-effective amendment to the Shelf Registration Statement or a Form 8-K or other appropriate Exchange Act report that is incorporated by reference into the Shelf Registration Statement, which, in any case, contains the requisite information that results in such Shelf Registration
Statement no longer containing any untrue statement of material fact or omitting to state a material fact necessary to make the statements therein not misleading; 

(vi) of the Company’s determination that a post-effective amendment to the Shelf Registration Statement is necessary under
applicable law; and 
 (vii) the determination by the Company that the filing of a Shelf Registration Statement will not be
made pursuant to Section 2(g). 
 (d) The Company shall use its reasonable efforts to obtain (i) the withdrawal of any order
suspending the effectiveness of any Shelf Registration Statement and the use of any related Prospectus and (ii) the lifting of any suspension of the qualification (or exemption from qualification) of any of the Transfer Restricted Securities
for offer or sale in any jurisdiction in which they have been qualified for sale, in each case at the earliest possible time, and shall provide notice to each Holder and the Initial Purchasers of the withdrawal of any such orders or suspensions.

 (e) The Company shall promptly furnish to the Initial Purchaser and each Holder, upon their request and without charge, at least one copy
of any Shelf Registration Statement and any post-effective amendment thereto, excluding all documents incorporated or deemed to be incorporated therein by reference and all exhibits thereto and any amendment or post-effective amendment consisting
exclusively of an Exchange Act report or other Exchange Act filing otherwise publicly available on the Company’s or SEC’s website. 

(f) During the Shelf Registration Period, the Company shall, promptly deliver to the Initial Purchasers, each Holder and any broker-dealers
acting on their behalf, without charge, as many copies of the Prospectus (including each preliminary Prospectus) included in any Shelf Registration Statement, and any amendment or supplement thereto, as such person may reasonably request, except as
provided in Section 3(q) hereof, and provided that the Company shall have no obligation to deliver to Initial Purchasers, each Holder and any broker-dealers acting on their behalf copies of any supplement or amendment consisting
exclusively of an Exchange Act report or other Exchange Act filing otherwise available on the Company’s or SEC’s websites; and the Company hereby consents to the use of the Prospectus and any amendment or supplement thereto by each of the
selling Holders in connection with the offering and sale of the Transfer Restricted Securities covered by the Prospectus or any amendment or supplement thereto in the manner set forth therein. 

  
 Exhibit A-9 

 (g) Prior to any offering of Transfer Restricted Securities pursuant to any Shelf Registration
Statement, the Company shall use its reasonable efforts to qualify or cooperate with the Holders and their respective counsel in connection with the qualification (or exemption from registration or such qualification) of such Transfer Restricted
Securities for offer and sale, under the securities or blue sky laws of such jurisdictions within the United States as any such Holders reasonably request in writing, and only upon such request, and shall use its reasonable efforts to maintain such
qualification in effect so long as required during the Shelf Registration Period and do any and all other acts or things reasonably necessary or advisable to enable the offer and sale in such jurisdictions of the Transfer Restricted Securities
covered by such Shelf Registration Statement; provided, however that in no event shall the Company’s reasonable efforts include the registration of Transfer Restricted Securities in any jurisdiction within the United States under the
securities or blue sky laws of such jurisdictions; and provided further that the Company will not be required to (A) qualify generally to do business as a foreign corporation or as a dealer in securities in any jurisdiction where it is
not then so qualified or to (B) take any action which would subject it to service of process or taxation in any such jurisdiction where they are not then so subject. 

(h) Unless any Transfer Restricted Securities shall be in book-entry only form, if requested by any Holder, the Company shall cooperate with
such Holder to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities (to the extent certificates for the Convertible Preferred Stock or the Common Stock issued upon conversion of Convertible
Preferred Stock are issuable) sold pursuant to any Shelf Registration Statement free of any restrictive legends and registered in such names as such Holder may request at least one Business Day prior to settlement of sales of Transfer Restricted
Securities pursuant to such Shelf Registration Statement; provided, however that such Holder shall be responsible for the payment of any taxes payable on account of any transfer to any person other than such Holder. 

(i) Subject to the exceptions contained in (A) and (B) of Section 3(g) above, the Company shall use its reasonable efforts to cause
the Transfer Restricted Securities covered by the applicable Shelf Registration Statement to be registered with or approved by such other federal, state and local governmental agencies or authorities, and self-regulatory organizations in the United
States as may be necessary to enable the Holders to consummate the disposition of such Transfer Restricted Securities as contemplated by any Shelf Registration Statement; without limitation to the foregoing, the Company shall use its reasonable
efforts to provide all such information as may be required by the Financial Industry Regulatory Authority, Inc. (“FINRA”) in connection with the offering under any Shelf Registration Statement of the Transfer Restricted Securities,
and shall cooperate with each Holder in connection with any filings required to be made with FINRA by such Holder in that regard. The Company may require each selling Holder to furnish to the Company a certified statement as to (i) the number
of Transfer Restricted Securities and Common Stock beneficially owned by such Holder and any Affiliate thereof, (ii) any FINRA affiliations, (iii) any natural persons who have the power to vote or dispose of its Transfer Restricted
Securities and shares of Common Stock and (iv) any other information as may be requested by the SEC, FINRA or any state securities commission. 

  
 Exhibit A-10 

 (j) During any period when a Shelf Registration Statement is effective, upon the occurrence of
any event described in Section 3(c)(v) or 3(c)(vi) hereof, the Company shall use its reasonable efforts to prepare and file with the SEC a post-effective amendment to any Shelf Registration Statement, or an amendment or supplement to the
related Prospectus, or any document incorporated therein by reference, or file a document which is incorporated or deemed to be incorporated by reference in such Shelf Registration Statement or Prospectus, as the case may be, so that, as thereafter
delivered to purchasers of the Transfer Restricted Securities included therein, the Shelf Registration Statement and the Prospectus, in each case as then amended or supplemented, will not include an untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary in order to make the statements therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading and, in the case of a post-effective
amendment, use its reasonable efforts to cause it to become effective as promptly as practicable. 
 (k) The Company shall provide, prior to
the effective date of any Shelf Registration Statement hereunder (i) a CUSIP number for the Transfer Restricted Securities registered under such Shelf Registration Statement and (ii) global certificates for such Transfer Restricted
Securities to the Transfer Agent, in a form eligible for deposit with DTC. 
 (l) The Company shall make generally available to its security
holders an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated by the SEC thereunder (or any similar rule promulgated under the Securities Act) for a
12-month period commencing on the first day of the first fiscal quarter of the Company commencing after the effective date of any Shelf Registration Statement or each post-effective amendment to any Shelf
Registration Statement, which such statements shall be made available no later than 45 days after the end of the 12-month period or 90 days after the end of the 12-month
period, if the 12-month period coincides with the fiscal year of the Company. 
 (m) The Company
shall use its reasonable efforts to cause all shares of Common Stock issuable upon mandatory conversion of the Convertible Preferred Stock to be approved for listing (upon official notice of issuance) or quotation, as applicable, on each securities
exchange, automated quotation system or other market (if any) on which the Common Stock is then listed or quoted, as applicable, no later than the date the applicable Shelf Registration Statement is declared effective (or, if later, the date on
which the Common Stock is listed or quoted, as applicable, on such securities exchange, automated quotation system or other market) and, in connection therewith, to make such filings as may be required under the Exchange Act and to have such filings
declared effective as and when required thereunder. 
 (n) The Company shall, if reasonably requested, use its reasonable efforts to promptly
incorporate in a Prospectus supplement or post-effective amendment to a Shelf Registration Statement (i) such information as the Majority Holders provide to the Company in writing and (ii) such information as a Holder may provide from time
to time to the Company in writing for inclusion in a Prospectus or any Shelf Registration Statement concerning such Holder and the distribution of such Holder’s Transfer Restricted Securities and, in either case, shall use its reasonable
efforts to make all required filings of such Prospectus supplement or post-effective amendment promptly after being notified in writing of the matters to be incorporated in such Prospectus supplement or post-effective amendment; provided that
the Company shall not be required to take any action under this Section 3(n) that is not, in the reasonable opinion of counsel for the Company, in compliance with applicable law. 

  
 Exhibit A-11 

 (o) In the case of an underwritten offering provided by Section 7 below, the Company shall
use its reasonable efforts to take all actions reasonably necessary, or reasonably requested by the holders of a majority of the Transfer Restricted Securities being sold in such underwritten offering, in order to expedite or facilitate disposition
of such Transfer Restricted Securities; provided that the Company shall not be required to take any action in connection with an underwritten offering made without its consent. 

(p) During any period when a Shelf Registration Statement is effective, if reasonably requested in writing in connection with any disposition
of Transfer Restricted Securities pursuant to a Shelf Registration Statement, the Company shall make reasonably available for inspection during normal business hours by a representative for the Holders of such Transfer Restricted Securities and any
broker-dealers, attorneys and accountants retained by such Holders, all relevant financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries, but excluding privileged information, and cause the
appropriate executive officers, directors and designated employees of the Company and its subsidiaries to make reasonably available for inspection during normal business hours all relevant information reasonably requested by such representative for
the Holders or any such broker-dealers, attorneys or accountants in connection with such disposition, in each case as is customary for similar “due diligence” examinations; provided, however, that any information that is designated
by the Company, in good faith, as confidential or proprietary at the time of delivery of such information shall be kept confidential by such persons and such persons shall take such actions as are necessary to protect the confidentiality of such
information, unless disclosure thereof is made in connection with a court, administrative or regulatory proceeding or required by law, or such information has become available to the public generally through the Company or through a third party
without an accompanying obligation of confidentiality, and the Company may, at its option, require all such Holders and representatives to sign a confidentiality agreement in form and substance reasonably satisfactory to the Company with respect
thereto prior to permitting access to such confidential or proprietary information. 
 (q) After any Shelf Registration Statement becomes
effective, each Holder agrees that, upon receipt of notice of the happening of an event described in Sections 3(c)(ii) through and including 3(c)(vi), such Holder shall forthwith discontinue (and shall cause its agents and representatives to
discontinue) disposition of Transfer Restricted Securities and will not resume disposition of Transfer Restricted Securities until such Holder has received copies of an amended or supplemented Prospectus contemplated by Section 3(j) hereof upon
request of such Holder, or until such Holder is advised in writing by the Company that the use of the Prospectus may be resumed, provided that the foregoing shall not prevent the sale, transfer or other disposition of Transfer Restricted
Securities by a Holder in a transaction which is exempt from, or not subject to, the registration requirements of the Securities Act, so long as such Holder does not and is not required to deliver the applicable Prospectus or Shelf Registration
Statement in connection with such sale, transfer or other disposition, as the case may be. 

  
 Exhibit A-12 

 (r) Each Holder shall promptly notify the Company of any inaccuracies in the information provided
in such Holder’s Holder Information that may occur subsequent to the date thereof at any time while the Shelf Registration Statement remains effective and shall promptly provide to the Company in writing the necessary changes to such
information required to be disclosed in order to make the information previously furnished to the Company by such Holder not misleading. 

4. Registration Expenses. The Company shall bear all fees and expenses incurred in connection with the performance of its obligations
under Sections 2 and 3 hereof. Such fees and expenses shall include, without limitation: (i) all registration and filing fees and expenses (including filings made with FINRA); (ii) all fees and expenses of compliance with federal securities and
state blue sky or securities laws; (iii) all expenses of printing (including printing of Prospectuses and certificates for the Common Stock to be issued upon conversion of the Convertible Preferred Stock) and the Company’s expenses for
messenger and delivery services and telephone; (iv) all fees and disbursements of counsel to the Company and, in the case of the Shelf Registration Statement, and any amendment and supplement thereto, the fees and disbursements (not exceeding
$50,000 in the aggregate) of the counsel for the Initial Purchasers and the Holders (which counsel shall initially be Simpson
Thacher & Bartlett LLP until such time as the Majority Holders shall have elected a different counsel); (v) all application and filing fees in connection with listing (or authorizing for quotation) the Common Stock on a national securities
exchange, automated quotation system or other market pursuant to the requirements hereof; and (vi) all fees and disbursements of independent certified public accountants of the Company. The Company shall bear its internal expenses (including,
without limitation, all salaries and expenses of their officers and employees performing legal, accounting or other duties), the expenses of any annual audit and the fees and expenses of any person, including special experts, retained by the
Company. Notwithstanding the provisions of this Section 4, each Holder shall bear the expense of any broker’s commission, agency fee and underwriter’s discount or commission (including, without limitation, the expenses related to the
engagement of a “qualified independent underwriter”), if any, relating to the sale or disposition of such Holder’s Transfer Restricted Securities pursuant to a Shelf Registration Statement. 

5. Indemnity and Contribution. 

(a) The Company agrees to indemnify and hold harmless each Holder named in any Shelf Registration Statement (including, without limitation, the
Initial Purchasers), and each person, if any, who controls any such Holder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively referred to for purposes of this Section 5 as a
“Holder”), from and against any and all losses, claims, damages and liabilities (including without limitation the reasonable legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim
asserted) caused by any untrue statement or alleged untrue statement of a material fact contained in the Shelf Registration Statement, or in any Prospectus, or any amendment thereof or supplement thereto, or caused by any omission or alleged
omission to state therein a material fact required to be stated therein or necessary, in the case of any Prospectus in light of the circumstances under which they were made, to make the statements therein not misleading, except insofar as such
losses, claims, damages or liabilities are caused by any untrue statement or omission or alleged untrue statement or omission made in 

  
 Exhibit A-13 

 
reliance upon and in conformity with information relating to any Holder furnished to the Company in writing by such Holder expressly for use therein or such information provided by the Majority
Holders pursuant to Section 3(n); provided that the foregoing indemnity with respect to any Shelf Registration Statement, or any Prospectus, shall not inure to the benefit of any Holder (or the benefit of any person controlling such
Holder) from whom the person asserting any such losses, claims, damages or liabilities purchased the securities concerned, to the extent that any such loss, claim, damage or liability of the Holders occurs under the circumstance where it shall have
been established that (w) the Company had previously furnished copies of the Prospectus, and any amendments and supplements thereto, to the Holder (to the extent such Holder has previously requested such copies), (x) delivery of the Prospectus,
and any amendment or supplements thereto, was required by the Securities Act to be made to such person, (y) the untrue statement or omission of a material fact was corrected in the Prospectus or amendments or supplements thereto and
(z) there was not sent or given to such person, at or prior to the written confirmation of the sale of such securities to such person, a copy of such Prospectus or amendments or supplements thereto. 

(b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, its directors, officers, employees and agents
and each person who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, and the directors, officers, employees and agents of such controlling persons, to the same extent as the
foregoing indemnity from the Company to the Holders, but only with regard to such information furnished to the Company in writing by such Holder expressly for use therein. 

(c) If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted
against any person in respect of which indemnity may be sought pursuant to either of the two preceding paragraphs, such person (the “Indemnified Person”) shall promptly notify the person against whom such indemnity may be sought
(the “Indemnifying Person”) in writing, and the Indemnifying Person, upon request of the Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others
the Indemnifying Person may designate in such proceeding and shall pay the reasonable fees and expenses of such counsel related to such proceeding. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but
the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary, (ii) the Indemnifying Person has failed
within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person or (iii) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and
representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the Indemnifying Person shall not, in connection with any proceeding or related proceeding
in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such
separate firm for the Holders and such control persons of the Holders shall be designated in writing by the Initial Purchasers and any such separate firm for the Company, its directors and such control persons of the Company shall be designated in

  
 Exhibit A-14 

 
writing by the Company. The Indemnifying Person shall not be liable for any settlement of any pending or threatened proceeding effected without its prior written consent, but if settled with such
consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify in accordance with Section 5(a) or 5(b) above, as the case may be, any Indemnified Person from and against any loss or liability by reason of
such settlement or judgment. No Indemnifying Person shall, without the prior written consent of the Indemnified Person, effect any settlement of any pending proceeding in respect of which any Indemnified Person is a party or of any threatened
proceeding in respect of which any Indemnified Person could have been a party and indemnity could have been sought hereunder by such Indemnified Person, unless such settlement includes an unconditional release of such Indemnified Person from all
liability on claims that are the subject matter of such proceeding on terms reasonably satisfactory to such Indemnified Person. 
 (d) If the
indemnification provided for in paragraph (a) or (b) of this Section 5 is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person
under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is
appropriate to reflect the relative benefits received by the Company on the one hand and the Holder on the other hand with respect to the sale by such Holder of Convertible Preferred Stock or Common Stock or (ii) if the allocation provided by
clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company on the one hand and of such
Holder on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. Benefits received by the Company shall be deemed to be equal to
the total net proceeds from the Initial Placement (before deducting expenses). Benefits received by the Initial Purchasers shall be deemed to be equal to the total purchase discounts and commissions received by the Initial Purchasers in the Initial
Placement, and benefits received by any other Holders shall be deemed to be equal to the value of receiving shares of Convertible Preferred Stock or Common Stock, as applicable, registered under the Securities Act. Benefits received by any
underwriter shall be deemed to be equal to the total underwriting discounts and commissions, as set forth on the cover page of the Prospectus forming a part of the Shelf Registration Statement which resulted in such losses, claims, damages or
liabilities. The relative fault of the Company on the one hand and such Holder on the other shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or the omission or alleged
omission to state a material fact relates to information supplied by the Company or by such Holder and the parties’ relevant intent, knowledge, information and opportunity to correct or prevent such statement or omission. 

(e) The Company and the Holders agree that it would not be just and equitable if contribution pursuant to this Section 5 were determined
by pro rata allocation (even if the Holders were treated as one entity for such purpose) or any other method of allocation that does not take account of the equitable considerations referred to in paragraph (d) of this Section 5.
The amount paid or payable by an Indemnified Person as a result of losses, claims, damages and 

  
 Exhibit A-15 

 
liabilities referred to in paragraph (d) of this Section 5 shall be deemed to include, subject to the limitations set forth above, any reasonable legal or other expenses incurred by
such Indemnified Person not otherwise reimbursed in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 5, in no event shall any Holder be required to contribute any amount in
excess of the amount by which the total amount received by such Holder with respect to its sale of Transfer Restricted Securities pursuant to a Shelf Registration Statement exceeds the amount of any damages that such Holder has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent misrepresentation. 
 (f) The remedies provided for in this Section 5 are not
exclusive and shall not limit any rights or remedies which may otherwise be available to any Indemnified Party at law or in equity. 
 (g)
The indemnity and contribution agreements contained in this Section 5 shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Holder
or any person controlling any Holder or by or on behalf of the Company, its officers or directors or any other person controlling the Company, and the indemnity and contribution agreements contained in this Section 5 shall survive the sale by a
Holder of Transfer Restricted Securities covered by a Shelf Registration Statement. 
 6. Rule 144A. The Company covenants that it
shall file the reports required to be filed by it under the Securities Act and the Exchange Act in a timely manner so long as the Transfer Restricted Securities remain outstanding. If at any time the Company is not required to file such reports, it
will, upon request of any Holder or beneficial owner of Transfer Restricted Securities, make available such information necessary to permit sales pursuant to Rule 144A. The Company further covenants that, for as long as any Transfer Restricted
Securities remain outstanding, it will take such further action as any Holder of Transfer Restricted Securities may reasonably request, all to the extent required from time to time to enable such Holder to sell Transfer Restricted Securities without
registration under the Securities Act within the limitation of the exemption provided by Rule 144A or any other exemption then available. Upon the written request of any Holder of Transfer Restricted Securities, the Company shall deliver to such
Holder a written statement as to whether it has complied with such requirements. Nothing in this Section 6 shall be deemed to require the Company to register any of its securities under the Exchange Act. 

7. Underwritten Offering. 

(a) If any of the Transfer Restricted Securities covered by any Shelf Registration Statement are to be sold in an underwritten offering, the
investment banker or investment bankers and manager or managers that will administer the underwritten offering will be selected by the Majority Holders of such Transfer Restricted Securities included in such underwritten offering, subject to the
consent of the Company (which shall not be unreasonably withheld or delayed), and such Holders shall be responsible for all underwriting commissions and discounts 

  
 Exhibit A-16 

 
(and any other expenses of the underwriters not borne by the underwriters themselves) in connection therewith; provided, however, that notwithstanding anything contained in this Agreement
to the contrary, the Company shall be under no obligation to participate in any underwritten offering with respect to the Transfer Restricted Securities and no underwritten offering shall be effected pursuant to this Agreement without the prior
written consent of the Company. 
 (b) No Holder may participate in any underwritten offering hereunder unless such person (i) agrees to
sell such Holder’s Transfer Restricted Securities on the basis reasonably provided in any underwriting arrangements approved by the Holders entitled hereunder to approve such arrangements and (ii) completes and executes all questionnaires,
powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements. 

8. Miscellaneous. 
 (a)
No Inconsistent Agreements. The Company has not, as of the date hereof, entered into nor shall it,
shall not, on or after the date hereof Amendment Effective Time, enter into, any agreement with respect to its securities that is inconsistent with the rights granted to the Holders herein or otherwise conflicts with the provisions hereof. In addition, the Company shall not
grant to any of its securityholders the right to include any of its securities in the Shelf Registration Statement provided for in this Agreement other than the Transfer Restricted Securities. 

(b) Amendments and Waivers. Except as provided in the next paragraph, this Agreement, including this Section 8(b), may be amended,
modified or supplemented, and waivers or consents to depart from the provisions hereof may be given, only by the written consent of the Company and the Majority Holders; provided that with respect to any matter that directly or indirectly
affects the rights of the Initial Purchasers hereunder, the Company shall obtain the written consent of the Initial Purchasers against which such amendment, supplement, waiver or consent is to be effective. Notwithstanding the foregoing, a waiver or
consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders whose Transfer Restricted Securities are being sold pursuant to a Shelf Registration Statement and that does not directly or
indirectly affect the rights of other Holders may be given by the Majority Holders (giving effect to the second proviso of the definition thereof). 

Notwithstanding the foregoing two sentences, (i) this Agreement may be amended by written agreement signed by the Company and the Initial
Purchasers, without the consent of the Majority Holders, to cure any ambiguity or to correct or supplement any provision contained herein that may be defective or inconsistent with any other provision contained herein, or to make such other
provisions in regard to matters or questions arising under this Agreement that shall not adversely affect the interests of the Holders of Transfer Restricted Securities. Each Holder of Transfer Restricted Securities outstanding at the time of any
such amendment, modification, supplement, waiver or consent or thereafter shall be bound by any such amendment, modification, supplement, waiver or consent effected pursuant to this Section 8(b), whether or not any notice, writing or marking
indicating such amendment, modification, supplement, waiver or consent appears on the Transfer Restricted Securities or is delivered to such Holder. 

  
 Exhibit A-17 

 (c) Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery; certified mail, return receipt requested; air courier guaranteeing overnight delivery or sent by email: 

(i) if to the Initial Purchasers, initially at the address set forth in the Purchase Agreement; 

(ii) if to any other Holder, at the most current address of such Holder maintained by the Transfer Agent (provided that while
the Convertible Preferred Stock or the Common Stock are in book-entry form, notice to the Transfer Agent shall serve as notice to the Holders); and 

(iii) if to the Company, to: 

WMI Holdings WMIH Corp. 
 Charles E. Smith,
Interim Chief Executive Officer Vice President 

Fifth Avenue
Plaza 
 1201
Third 800 Fifth Avenue, Suite 30004100

 Seattle, Washington 9810198104 

Attn: Chief Executive Officer 
 email: chad.smith@wamuinc.net 

With a copy to: 
 Akin Gump
Strauss Hauer & Feld LLP 
 One Bryant Park 

New York, New York 10036-6745 

Attn: Kerry E. Berchem, Esq. 
 e-mail: kberchem@akingump.com 
 All such notices and communications shall be deemed to have been duly
given when received, if delivered by hand or air courier, and when sent, if sent by first-class mail, provided that notice given by email shall not be effective unless either (i) a duplicate copy of such email notice is promptly given by
one of the other methods described in this Section 8(c) or (ii) the receiving party delivers a written confirmation of receipt for such notice by email or any other method described in this Section 8(c).  

The Initial Purchasers or the Company by notice to the other may designate additional or different addresses for subsequent notices or
communications. 

  
 Exhibit A-18 

 (d) Successors and Assigns. This Agreement shall inure to the benefit of and be binding
upon the successors and assigns of each of the parties, including the successor to WMI Holdings Corp. resulting from an expected merger into a Delaware corporation upon a
reincorporation, without the need for an express assignment or any consent by the Company or subsequent Holders. The Company hereby agrees to extend the benefits of this Agreement to any
Holder and any such Holder may enforce the provisions of this Agreement as if an original party hereto. In the event that any other person shall succeed to the Company’s interests and obligations, except for the reincorporation set forth in the first sentence of this Section 8(d), then such successor shall enter into an
agreement, in form and substance reasonably satisfactory to the Initial Purchasers, whereby such successor shall assume all of the Company’s obligations under this Agreement. 

(e) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(f) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning
hereof. 
 (g) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WITHIN THE STATE OF NEW YORK. 
 (h) Severability. In the event that any one or more
of the provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and
of the remaining provisions hereof shall not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law. 

(i) Termination. This Agreement and the obligations of the parties hereunder shall terminate upon the end of the Shelf Registration
Period, except for any liabilities or obligations under Section 2(e), 4 or 5 to the extent arising prior to the end of the Shelf Registration Period. 
  

  
 Exhibit A-19soho-ex103_6.htm

Exhibit 10.3

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT (the “Agreement”) is dated as of the 1st day of January, 2018, by and between Sotherly Hotels Inc., a Maryland corporation (the “Company” or “Employer”), and Anthony E. Domalski (the “Executive”).

RECITALS:

WHEREAS, the Company is in the business of owning and developing hotels (the “Company’s Business”); and

 

WHEREAS, Employer and Executive entered into an employment agreement, dated December 31, 2012, to engage Executive to serve as Chief Financial Officer of the Company (the “Prior Employment Agreement”);

 

WHEREAS, the Prior Employment Agreement terminated on December 31, 2017; and

 

WHEREAS, Employer and Executive desire to enter into this new Agreement as of the date hereof on the terms and conditions set forth herein.

 

NOW, THEREFORE, on the basis of the foregoing premises and in consideration of the mutual covenants and agreements contained herein, the parties hereto agree as follows:

Section 1.Employment.  The Company hereby agrees to employ the Executive, and the Executive hereby accepts such employment with the Company, on the terms and subject to the conditions hereinafter set forth.  Subject to the terms and conditions contained herein, the Executive shall continue to serve as Secretary and Chief Financial Officer of the Company and shall have such duties as are typically performed by a Secretary and chief financial officer of a corporation of similar size and type as the Company.  The Executive shall render his services at the direction of, and shall report jointly to, the Chief Executive Officer and President/Chief Operating Officer of the Company.  The Executive agrees to use best efforts to promote and further the business, reputation and good name of the Company.  The Executive’s primary place of employment shall be in the Williamsburg, Virginia area, or such other location as determined by the Company’s Board of Directors.

Section 2.Commencement Date; Term.  Employment of Executive shall continue on the terms herein from and after January 1, 2018 (the “Commencement Date”) and shall continue during the period ending on December 31, 2022, unless terminated prior to such date pursuant to Section 6 hereof.  Following December 31, 2022, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”).  The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 6 hereof.  For the avoidance of doubt, prior to the Commencement Date the Prior Employment Agreement shall remain in full force and effect and continue to govern the rights and obligations of the Executive and the Company.

Section 3.Compensation and Benefits.  During the Employment Term, the Executive shall be entitled to the following compensation and benefits:  

(a)Salary.  As compensation for the performance of the Executive’s services hereunder for the 12-month period ending December 31, 2018, the Company shall pay to the Executive a salary (the “Salary”) of Two Hundred and Ninety-Five Thousand Dollars ($295,000.00).  For the 12-month period ending December 31, 2019, Executive’s salary shall be increased by Forty Thousand Dollars 

 

($40,000.00) over his 2018 Salary, plus a cost of living adjustment as determined by the Nominating, Corporate Governance and Compensation Committee of the Company’s Board of Directors (the “Committee”), which in no event will be less than a percentage equal to the annual inflation rate for the prior full calendar year as measured by the Consumer Price Index for All Urban Consumers published by the U.S. Department of Labor, Bureau of Labor Statistics (the “CPI Adjustment”).  During the term of this Agreement, the Committee shall review Executive’s Salary annually in conjunction with its regular review of employee salaries and may increase his Salary as in effect from time to time as the Committee shall deem appropriate, it being understood and agreed that the intent of the parties that Executive’s salary increases are subject to the satisfactory performance of Executive; provided, however, that the Executive’s Salary shall be increased annually to account for the CPI Adjustment.  The Salary shall be payable in arrears in approximately equal semi-monthly installments (except that the first and last such semi-monthly installments may be prorated if necessary) on the Company’s regularly scheduled payroll dates, minus such deductions as may be required by law or reasonably requested by the Executive.

(b)Annual Performance Bonus.  The Executive shall be eligible to receive, in respect of each calendar year during the Employment Term, an annual cash performance bonus (the “Annual Performance Bonus”) with a target between twenty-five percent (25%) and thirty-five percent (35%) of Salary for that calendar year, based upon (other than as noted below) the attainment of quantitative performance goals set forth in a performance plan established by the Committee by January 31 of each year (the “Performance Plan”).  The Annual Performance Bonus shall be paid to the Executive within thirty (30) days following the receipt of the audited results of the Company for the calendar year, but in no event later than sixty (60) days after the close of the calendar year.  If necessary, the Annual Performance Bonus shall be granted under a performance based plan that meets the requirements under Section 162(m) of the Internal Revenue Code (the “Code”).

(c)Stock.  The Company may grant to Executive stock options, performance shares, performance units, deferred shares or restricted stock from time to time under the terms of a separate agreement, and consistent with the terms of any stock incentive plan which may be established and adopted by the Company.  On the Commencement Date, Executive shall be granted a “Restricted Stock Grant” of 25,000 shares of common stock in the Company.  The Restricted Stock Grant shall vest in equal amounts of 5,000 shares of Company common stock over a five-year period on December 31 of certain years during the Employment Term, commencing December 31, 2018 and ending December 31, 2022.  The shares of common stock in the Restricted Stock Grant shall be divisible pro-rata by any forward or reverse splits of the Company’s common stock and shall be subject to such additional terms as may be provided in a Restricted Stock Grant agreement.

(d)Benefits.  In addition to the Salary and the Annual Performance Bonus, the Executive shall be eligible to participate in the Company’s health, insurance, retirement and other benefit plans and programs.  The Executive shall also be entitled to four (4) weeks of paid vacation for each calendar year during the Employment Term.  Additionally, Executive will be entitled to two (2) weeks paid time for illness and personal leave, and all Company holidays.  The Executive shall be entitled to all other benefits as are generally allowed to other senior executives of the Company, in accordance with the Company’s policies in effect from time to time.

(e)Directors and Officers Liability Insurance.  The Company will, at its expense, provide the Executive with Directors and Officers Liability Insurance, subject to the provisions governing such insurance and on such terms as the Board of Directors may from time to time decide.  The Company will indemnify Executive and hold Executive harmless, to the maximum extent permitted by applicable law, against all costs, charges and expenses incurred or sustained by him in connection with any action, suit or proceeding to which he may be made a party by reason of his being an officer, director or employee of the Company or of any subsidiary or affiliate of the Company at any time.

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(f)Insurance and Other Related Benefits.  Company shall pay for one hundred percent (100%) of all health insurance premiums under a policy covering Executive and his immediate family.  During the Employment Term, the Company shall maintain on the life of Executive, provided he is insurable at standard rates, a term life insurance policy in the amount of One Million Dollars ($1,000,000.00).  Executive shall have the right to designate the beneficiary or beneficiaries of such policy.  In the event that Executive is not insurable during the term of this Agreement due to illness, accident, injury or other similar event, the Company shall maintain the term life insurance policy in the amount of One Million Dollars ($1,000,000.00), but Executive agrees to pay the difference between the normal standard rate premium for an equivalent insurable person and the non-standard rate which is quoted given the circumstances surrounding Executive’s reduced insurability.  During the Employment Term, the Company shall also maintain for the benefit of the Executive disability insurance such that Executive will be entitled to receive monthly payments not less than the monthly payments made pursuant to Section 3(a) hereof (the “Disability Payments”) at the time of any event causing his complete or partial disability.  In addition to the foregoing, Executive will be entitled to other executive benefits on the same basis as the Company provides to its other executives and customary fringe benefits and privileges that the Company makes generally available to executives.  

(g)Other Benefits.  Executive is entitled to visit the hotels in the Company’s portfolio and utilize same for leisure (on a space available basis) or business at no cost to Executive.

(h)Retirement.  To the extent a retirement or profit sharing plan is established and adopted by the Company, Executive shall be entitled to participate in said plan pursuant to applicable law.

(i)No Other Compensation.  Except as otherwise expressly provided herein, or in any other written document executed by the Company and the Executive, no other compensation or other consideration shall become due or payable to the Executive on account of the services rendered hereunder.

(j)Taxation and Withholding.  The compensation and benefits provided for in this Section 3 (as well as the termination payments provided for in Section 6(g)) shall be reported as income to Executive and subjected to tax withholding as required under applicable Federal, state and local laws.

 

(k)Reimbursements.  Payment or reimbursement of expenses incurred by the Executive pursuant to the provisions of this Section 3, other than reimbursements that would otherwise be exempt from income or the application of Section 409A of the Code, shall be made promptly and in no event later than December 31 of the year following the year in which such expenses were incurred, and the amount of such expenses eligible for payment or reimbursement, or in-kind benefits provided, in any year shall not affect the amount of such expenses eligible for payment or reimbursement, or in-kind benefits to be provided, in any other year, except for any limit on the amount of expenses that may be reimbursed under an arrangement described in Section 105(b) of the Code.  Additionally, any right to expense reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit.

Section 4.Exclusivity.  During the Employment Term, the Executive shall devote his full time to the business of the Company, shall faithfully serve the Company and shall in all respects conform to and comply with the lawful and reasonable directions and instructions given to him by the Company’s Chief Executive Officer, its President/Chief Operating Officer and its Board of Directors.  The Executive shall use reasonable efforts to promote and serve the interests of the Company and shall not engage in any other business activity, whether or not such activity shall be engaged in for pecuniary profit, except that the Executive may participate in the activities of professional trade organizations and engage in personal investing activities, provided that such activities do not interfere in any material respect with the services to be provided by the Executive hereunder and are not in companies that compete with the Company.  

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Section 5.Reimbursement for Expenses.  In addition to, but without duplication of, the expenses described in Section 3 hereof, the Executive is authorized to incur reasonable expenses in the discharge of the services to be performed hereunder, including, without limitation, expenses for travel, entertainment, maintaining professional licenses and certifications, trade association fees, attendance at association meetings and conferences, lodging and similar items in accordance with the Company’s expense reimbursement policy, as the same may be modified by the Company from time to time.  The Company shall reimburse the Executive for all such proper expenses upon presentation by the Executive of itemized accounts of such expenditures in accordance with the financial policy of the Company, as in effect from time to time.

Section 6.Termination and Default.

(a)Death.  The Executive’s employment shall automatically terminate upon his death, and upon such event the Executive’s estate shall be entitled to receive only the Accrued Compensation, as hereinafter defined, pursuant to Section 6(g)(iii) hereof and no other severance compensation.

(b)Disability.  If the Executive is unable to perform the duties required under this Agreement because of illness, incapacity, or physical or mental disability, the Employment Term shall continue and the Company shall pay all compensation required to be paid to the Executive hereunder, unless the Executive is unable to perform the duties required under this Agreement for an aggregate of 120 days (whether or not consecutive) during any 12-month period during the term of this Agreement (a “Disability”), in which event the Executive’s employment shall terminate and Executive shall be entitled to receive only the Accrued Compensation pursuant to Section 6(g)(iii) hereof and the Disability Payments pursuant to Section 3(f) hereof, and no other severance compensation.

(c)Cause.  The Company may terminate the Executive’s employment at any time, with Cause.  For purposes of this Agreement, “Cause” shall mean the occurrence of any of the following: (i) the Executive’s failure (except where due to a disability contemplated by subsection (b) hereof), neglect or refusal to perform the duties required under this Agreement, (ii) any breach of this Agreement by the Executive (or any grossly negligent, willful or intentional act of the Executive) that injures the reputation or business of the Company or its affiliates in any material respect; (iii) material breach by the Executive of his obligations under this Agreement; (iv)  Executive’s gross negligence in the performance of, or intentional, material nonperformance of, any of Executive’s material duties and responsibilities hereunder, which continues for ten (10) days after receipt of written notice of need to cure; (v)  Executive’s dishonesty, fraud or misconduct with respect to the business or affairs of the Company; (vi) the Executive’s indictment of, conviction of or pleading of no contest to a felony or any misdemeanor involving fraud; (vii) the commission by the Executive of an act of fraud or embezzlement, or any other act involving the misappropriation of funds or assets; or (viii) chronic alcohol abuse or illegal drug use by Executive.  Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board of Directors or based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in the best interests of the Company.  Cause shall not exist pursuant to clause (i), (ii), (iii) or (iv) of this Section 6(c) unless the Executive has failed to correct the activity alleged to constitute Cause within ten (10) days following written notice from the Company of such activity, which notice shall specifically set forth the nature of such activity and the corrective action reasonably sought by the Company.  Notwithstanding the foregoing, the termination of the Executive’s employment for Cause shall be pursuant to the action of the Board of Directors, taken in conformity with the Bylaws of the Company.  In the event of Executive’s termination for Cause as set forth above, Executive shall not be entitled to any severance compensation.  

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(d)Without Cause.  The Company may terminate the Executive’s employment during the Employment Term without Cause at any time by giving written notice to the Executive.  A termination of the Executive’s employment without Cause shall mean a termination initiated by the Company for any reason other than (i) Cause or (ii) on account of death or Disability.  A termination without Cause shall be effective immediately upon notice given by the Company to the Executive, or such later date as may be mutually agreed between the Executive and the Company.  Upon a termination of employment without Cause, Executive shall be entitled to the compensation payments provided in Section 6(g)(i) hereof.

(e)Resignation/Termination for Good Reason.  The Executive shall have the right to terminate his employment for Good Reason.  For purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the following: (i) the failure by the Company to pay to the Executive compensation and benefits, or expense reimbursement in accordance with Sections 3 and 5 herein; (ii) a material diminution in the Executive’s responsibilities or authority, or diminution of the Executive’s title; (iii) if the location of the Company’s principal place of business is moved to another location more than sixty (60) miles away from Williamsburg, Virginia; (iv) any material breach of this Agreement by the Company; (v) the failure of Mr. Andrew M. Sims, the Company’s Chief Executive Officer, to be nominated to the Board of Directors or his removal by the Board of Directors as a result of shareholder vote; or (vi) following a Change in Control, as hereinafter defined, of Employer followed by a termination of Executive’s employment within (12) months of such Change in Control; provided that the Executive must provide written notice of termination of employment for Good Reason within thirty (30) days following the Executive’s knowledge of an event constituting Good Reason or such event shall not constitute Good Reason hereunder.  Good Reason shall not exist upon a termination of employment described in Section 6(b), (c) or (d) herein.  Upon termination pursuant to this Section 6(e), Executive shall be entitled to the compensation payments provided in Section 6(g)(i) hereof.

Notwithstanding the foregoing, Good Reason shall not be deemed to exist unless the Company fails to cure the event giving rise to Good Reason within thirty (30) days after receipt of written notice thereof given by the Executive.  For purposes of this Agreement, “Change in Control” shall mean the following events or circumstances that occur after the Commencement Date:

	

	
(A)The ownership or acquisition (whether by a merger contemplated by Section 6(e)(B) below, or otherwise) by any Person (other than a Qualified Affiliate (each as hereinafter defined)), in a single transaction or a series of related or unrelated transactions, of Beneficial Ownership of more than fifty percent (50.0%) of (i) the Company’s outstanding common stock (the “Common Stock”) or (ii) the combined voting power of the Company’s outstanding securities entitled to vote generally in the election of directors (the “Outstanding Voting Securities”); 

	

	
(B)The merger or consolidation of the Company with or into any other Person other than a Qualified Affiliate, if, immediately following the effectiveness of such merger or consolidation, Persons who did not Beneficially Own Outstanding Voting Securities immediately before the effectiveness of such merger or consolidation directly or indirectly Beneficially Own more than fifty percent (50.0%) of the outstanding shares of voting stock of the surviving entity of such merger or consolidation (including for such purpose in both the numerator and denominator, shares of voting stock issuable upon the exercise of then outstanding rights (including then exercisable conversion rights), options or warrants) (“Resulting Voting Securities”), provided that, for purposes of this Section 6(e)(B), if a Person who Beneficially Owned Outstanding Voting Securities immediately before the merger or consolidation Beneficially Owns a greater number of the Resulting Voting Securities immediately after the merger or consolidation than the number the Person received solely as a result of the merger or consolidation, that greater number will be treated as held by a Person who did not Beneficially Own Outstanding Voting Securities before the merger or consolidation, and provided further that such merger or consolidation would also constitute a Change in 

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Control if it would satisfy the foregoing test if rights, options and warrants were not included in the calculation; 

	

	
(C)Any one or a series of related sales or conveyances to any Person or Persons (including a liquidation) other than any one or more Qualified Affiliates of all or substantially all of the assets of the Company; 

	

	
(D)Incumbent Directors cease to be two-thirds (2⁄3) of the members of the Board of Directors, where an “Incumbent Director” is (i) an individual who is a member of the Board of Directors on the Commencement Date or (ii) any new director whose appointment by the Board of Directors or whose nomination for election by the stockholders was approved by at least two-thirds (2⁄3) of the persons who were already Incumbent Directors at the time of such appointment, election or approval, other than any individual who assumes office initially as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors or as a result of an agreement to avoid or settle such a contest or solicitation; or

	

	
(E)The occurrence immediately before the completion of a tender offer for the Company’s securities representing more than fifty percent (50.0%) of the Outstanding Voting Securities, other than a tender offer by a Qualified Affiliate. 

	

	
(F)For purposes of this Agreement, the following definitions shall apply: 

	

	
(a)“Beneficial Ownership,” “Beneficially Owned” and “Beneficially Owns” shall have the meanings provided in Exchange Act Rule 13d-3; 

	

	
(b)“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended; 

	

	
(c)“Person” shall mean any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act), including any natural person, corporation, trust, association, partnership, joint venture, limited liability company, legal entity of any kind, government, or political subdivision, agency or instrumentality of a government, as well as two or more Persons acting as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of the Company’s securities; and 

	

	
(d)“Qualified Affiliate” shall mean (i) any directly or indirectly wholly owned subsidiary of the Company; (ii) any employee benefit plan (or related trust) sponsored or maintained by the Company or by any entity controlled by the Company; or (iii) any Person consisting or controlled in whole or in part of or by the Executive or one or more individuals who are then the Company’s Chief Executive Officer or any other named executive officer (as defined in Item 402 of Regulation S-K under the Securities Act of 1933) of the Company as indicated in its most recent securities filing made before the date of the transaction.

(f)Payment in Lieu. The Company may, in its sole discretion, at any time after notice of termination without Good Reason has been given to the Company by the Executive, terminate this Agreement, provided that, in addition to any amount payable to the Executive under Section 6(g) herein, the Company shall pay to the Executive (without duplication) his then current Salary and continue benefits provided pursuant to Section 3(d) herein, for the duration of the unexpired notice period.    

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(g)Termination Payments.

(i)Termination Without Cause or By Executive for Good Reason. In the event that during the Employment Term the Executive’s employment is terminated by the Company without Cause or the Executive terminates his employment for Good Reason, the Company shall pay to the Executive the sum of the following amounts: 

(A) All amounts fully earned pursuant to the terms of this Agreement but unpaid hereunder through the date of termination, if any, in respect of Salary, any accrued but not yet paid Annual Performance Bonus owed for the year prior to Executive’s termination, vesting of any previously issued stock options or restricted stock, payment of life, health and disability insurance coverage for a period of five (5) years following termination, and unreimbursed expenses; provided, however, that the Company’s obligation to pay life, health and/or disability insurance shall terminate prior to such fifth year anniversary if Executive accepts other employment that would reasonably be expected to provide such insurance;

(B) A severance payment equal to three (3) times the Executive’s combined Salary and actual bonus compensation for the preceding fiscal year will be paid within five (5) days of the Executive’s last day of employment; and 

(C) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that (i) any payment, award, benefit or distribution (or any acceleration of payment, award, benefit or distribution) by the Company (or any of its affiliates) to or for the benefit of the Executive (whether pursuant to the terms of this Agreement or otherwise) (the “Payments”) would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), and (ii) the reduction of the amounts payable to the Executive under this Agreement to the maximum amount that could be paid to the Executive without giving rise to the Excise Tax (the “Safe Harbor Cap”) would provide the Executive with a greater after-tax amount than if such amounts were not reduced, then the amounts payable to the Executive under this Agreement shall be reduced (but not below zero) to the Safe Harbor Cap.  The reduction of the amounts payable hereunder, if applicable, shall be made to the extent necessary in the following order: (i) the acceleration of vesting of stock options with an exercise price that exceeds the then fair market value of the stock subject to the award; (ii) the payments under Section 6(g)(i)(B); (iii) all other payments under this Section 6(g)(i); and then (iv) the acceleration of vesting of restricted stock and stock options with an exercise price that does not exceed the then fair market value of the stock subject to the award.  For purposes of reducing the Payments to the Safe Harbor Cap, only amounts payable under this Agreement (and no other Payments) shall be reduced.  If the reduction of the amounts payable hereunder would not result in a greater after-tax result to the Executive, no amounts payable under this Agreement shall be reduced pursuant to this provision.

All determinations required to be made under this Section 6(g)(i)(C) shall be made by the public accounting firm that is retained by the Company as of the date immediately prior to the Change in Control (the “Accounting Firm”) which shall provide detailed supporting calculations both to the Company and the Executive within fifteen (15) business days of the receipt of notice from the Company or the 

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Executive that there has been a Payment, or such earlier time as is requested by the Company.  Notwithstanding the foregoing, in the event (i) the Board of Directors of the Company shall determine prior to the Change in Control that the Accounting Firm is precluded from performing such services under applicable auditor independence rules; (ii) the Audit Committee of the Board of Directors of the Company determines that it does not want the Accounting Firm to perform such services because of auditor independence concerns; or (iii) the Accounting firm is serving as accountant or auditor for the person(s) effecting the Change in Control, the Board of Directors of the Company shall appoint another nationally recognized public accounting firm to make the determinations required hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder).  All fees, costs and expenses (including, but not limited to, the costs of retaining experts) of the Accounting Firm shall be borne by the Company.  If payments are reduced to the Safe Harbor Cap or the Accounting Firm determines that no Excise Tax is payable by the Executive without a reduction in payments, the Accounting Firm shall provide a written opinion to the Executive to such effect that the Executive is not required to report any Excise Tax on the Executive’s federal income tax return and that the failure to report the Excise Tax, if any, on the Executive’s applicable federal income tax return will not result in the imposition of a negligence or similar penalty.  The determination by the Accounting Firm shall be binding upon the Company and the Executive (except as provided below). 

If it is established pursuant to a final determination of a court or an Internal Revenue Service (the “IRS”) proceeding which has been finally and conclusively resolved, that Payments have been made to, or provided for the benefit of, the Executive by the Company, which are in excess of the limitations provided in this Section (referred to hereinafter as an “Excess Payment”), the Executive shall repay the Excess Payment to the Company on demand, together with interest on the Excess Payment at the applicable federal rate (as defined in Section 1274(d) of the Code) from the date of the Executive’s receipt of such Excess Payment until the date of such repayment.  As a result of the uncertainty in the application of Section 4999 of the Code at the time of the determination, it is possible that Payments which will not have been made by the Company should have been made (an “Underpayment”), consistent with the calculations required to be made under this Section.  In the event that it is determined (i) by the Accounting Firm, the Company (which shall include the position taken by the Company, or together with its consolidated group, on its federal income tax return) or the IRS or (ii) pursuant to a determination by a court that an Underpayment has occurred, the Company shall pay an amount equal to such Underpayment to the Executive within ten (10) days of such determination together with interest on such amount at the applicable federal rate (as defined in Section 1274(d) of the Code) from the date such amount would have been paid to the Executive until the date of payment.  The Executive shall cooperate, to the extent the Executive’s expenses are reimbursed by the Company, with any reasonable requests by the Company in connection with any contests or disputes with the IRS in connection with the Excise Tax or the determination of the Excess Payment. 

Notwithstanding anything to the contrary in the foregoing provisions of this Section 6(g)(i)(C): (i) payment of the portion of any Underpayment that is taxes shall not be made later than December 31 of the year next following the year in which the Excise Tax is remitted to the taxing authority; (ii) payment of the portion 

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of any Underpayment that is interest or penalties incurred by the Executive with respect to such taxes shall not be made later than December 31 of the year next following the year in which the Executive incurs such interest or penalties, as applicable; and (iii) reimbursement of expenses incurred due to a tax audit or litigation addressing the existence or amount of a tax liability, whether federal, state, local or foreign, shall not be made later than the end of the year following the year in which the taxes that are the subject of the audit or litigation are remitted to the taxing authority, or where as a result of such audit or litigation no taxes are remitted, the end of the year following the year in which the audit is completed or there is a final nonapplicable settlement or other resolution of the litigation.  If the Underpayment is a deferral of compensation, the amount of interest and penalties eligible for payment or reimbursement in any year shall not affect the amount of such interest and penalties eligible for payment or reimbursement in any other year, nor shall such right to payment or reimbursement be subject to liquidation or exchange for another benefit.

(ii)Limitations.  Executive agrees that he shall not be entitled to any pro‐rated payment of the Annual Performance Bonus for the year of Executive’s termination.  Notwithstanding any other provision in this Agreement or the terms of any severance plan or policy maintained by the Company or its affiliates to the contrary, if the Executive is entitled to the severance benefit provided in Section 6(g)(i), the Executive shall not be entitled to receive any other payments or benefits under any other severance or similar plan maintained by the Company or its affiliates.

(iii)Termination Due to Death or Disability.  In the event that during the Employment Term the Executive’s employment is terminated by the Company due to the Executive’s death or Disability, the Company shall pay to the Executive, or the Executive’s estate, all amounts fully earned pursuant to the terms of this Agreement, but unpaid hereunder through the date of termination, if any, in respect of Salary, and accrued but not yet paid Annual Performance Bonus owed from the year prior to Executive’s termination (the “Accrued Compensation”).  

(iv)Termination for Cause or By Executive Without Good Reason. In the event that during the Employment Term the Executive’s employment is terminated by the Company for Cause or by the Executive by resignation without Good Reason, the Company shall pay to the Executive only the Accrued Compensation.  

(v)Expiration of Agreement.  If either the Company or the Executive elects not to renew this Agreement and it expires, the Executive shall not receive any termination payments other than any amounts fully earned pursuant to the terms of this Agreement, but unpaid hereunder through the date of expiration of this Agreement, if any, in respect of Salary, and any accrued but not yet paid Annual Performance Bonus owed with respect to the year of such expiration and any prior year.  

(h)No Mitigation or Offset.  In the event of any termination of Executive’s employment hereunder, Executive shall be under no obligation to seek other employment or otherwise mitigate the obligations of the Company under this Agreement, and there shall be no offset against amounts due Executive under this Agreement on account of amounts purportedly owing by Executive to the Company or amounts earned by Executive from any source.  Any amounts due to Executive under this Agreement upon termination of employment are considered to be reasonable by the Company and are not in the nature of a penalty.

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(i)Survival of Operative Sections. Upon any termination of the Executive’s employment, the provisions of Sections 6(g) and Sections 7 through 21 of this Agreement shall survive to the extent necessary to give effect to the provisions thereof.

(j)Specified Employee Delay.  The time and form of payment of any amount or benefits upon the Executive’s termination of employment described in the preceding provisions of this Section 6 (including expense reimbursements) shall be made in accordance with such Section 6, provided that if the Executive is a “specified employee” under Section 409A of the Code, payment shall be delayed until the earlier to occur of (i) the Executive’s death or (ii) the date that is six (6) months and one (1) day following the Executive’s termination of employment (the “Delay Period”), unless the payment at such time can be characterized as a “short-term deferral” for purposes of Section 409A of the Code or as otherwise exempt from the provisions of Section 409A of the Code.  Upon the expiration of the Delay Period, if any, all payments and benefits delayed pursuant to this Section 6(j) shall be paid or reimbursed to Executive in a lump sum, and any remaining payments due under the preceding provisions of this Section 6, whichever is applicable, shall be payable at the same time and in the same form as such amounts and benefits would have been paid in accordance with their original payment schedule under this Section 6.  For purposes of applying the provisions of Section 409A of the Code, each separately identified amount to which the Executive is entitled shall be treated as a separate payment.  For purposes of this Section 6, no termination of employment shall be treated as having occurred unless such termination qualifies as a “separation from service” under Section 409A of the Code.

(k)Reimbursements.  Payment or reimbursement of expenses incurred by the Executive pursuant to the provisions of this Section 6, other than reimbursements that would otherwise be exempt from income or the application of Section 409A of the Code, shall be made promptly and in no event later than December 31 of the year following the year in which such expenses were incurred, and the amount of such expenses eligible for payment or reimbursement, or in-kind benefits provided, in any year shall not affect the amount of such expenses eligible for payment or reimbursement, or in-kind benefits to be provided, in any other year, except for any limit on the amount of expenses that may be reimbursed under an arrangement described in Section 105(b) of the Code.  Additionally, any right to expense reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit.  If the Executive is a “specified employee” under Section 409A of the Code, the full cost of the continuation or provision of life, health and disability insurance coverage under any provision of this Section 6 (other than any cost of any coverage that is exempt from Section 409A of the Code) shall be paid by the Executive until the end of the Delay Period, and such cost shall be reimbursed by the Company to, or on behalf of, the Executive in a lump sum cash payment on the day following the Delay Period.

(l)No Acceleration.  Notwithstanding anything in this Agreement to the contrary, the time or schedule of any payment or amount scheduled to be paid pursuant to the terms of this Agreement, including but not limited to any stock options, restricted stock or other equity-based award, payment or amount that provides for the “deferral of compensation” under Section 409A of the Code, shall not be accelerated except as otherwise permitted under Section 409A of the Code and the guidance and U.S. Department of the Treasury regulations issued thereunder.

Section 7.Confidentiality and Non-Disclosure Covenants.

(a)Confidential Information.  The Company considers one of its most valuable assets to be its confidential and trade secret information, including, but not limited to, potential real estate acquisition targets and client lists of the respective hotel properties (hereinafter collectively referred to as “Confidential Information”).  Confidential Information shall not include information which: (i) has previously been disclosed by the Company in published papers; (ii) becomes part of the public domain, by publication or otherwise; and (iii) is not due to the direct or indirect acts or omissions of Executive.  The 

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parties to this Agreement recognize that the Company has invested and will continue to invest considerable amounts of time and resources in attaining and developing the Company’s Confidential Information, and any unauthorized disclosure or release of such Confidential Information in any form would harm the Company.

(b)Non-Disclosure of Confidential Information.  Executive shall refrain from directly or indirectly disclosing to any third party, for any purpose other than for the direct benefit of the Company, any of the Company’s Confidential Information during his employ and thereafter, whatever the reason for his leaving the Company’s employment.

(c)Confidentiality of the Company’s Property.  Executive recognizes that all of the documents and other tangible items which contain any of the Company’s Confidential Information are the Company’s property exclusively, including those documents and items which Executive may have developed or contributed to developing while employed by the Company, whether or not developed during regular working hours or on the Company’s premises.

(d)Executive recognizes that all materials, identification information, keys, computer software and hardware, computer programming libraries, manuals, databases, disks, tapes, patent applications, technical notes and equipment the Company provides for Executive are also the property of the Company exclusively.  All items described in this and the preceding paragraph are hereinafter collectively referred to as the “Company’s Property”.

(e)Should Executive’s employment be terminated for any reason, Executive shall:

	

	
(i)Refrain from taking any of the Company’s Property or allowing any of the Company’s Property to be taken from the Company’s premises;

	

	
(ii)Refrain from reproducing in any manner or allowing to be reproduced any of the Company’s Property;

	

	
(iii)Refrain from removing any such reproduction from the Company’s premises; and

	

	
(iv)Immediately return to the Company any original or reproduction of the Company’s Property in his custody, control or possession.

Section 8.Non-Competition and Non-Solicitation Covenants.  During his employment with the Company, and for a period of one (1) year following the termination of Executive’s employment, except in the case of either termination without Cause pursuant to Section 6(d) or resignation/termination for Good Reason pursuant to Section 6(e) (the “Restricted Period”), unless Executive receives the Company’s advance written waiver, Executive shall not, either directly or indirectly, either on his own behalf or on behalf of another business, engage in or assist others in the following activities:

(a)Soliciting, hiring, recruiting or attempting to recruit, for any business which competes with the Company’s Business, any person employed by or contracted with the Company or employed by or contracted with the Company during the twelve (12) months immediately preceding Executive’s termination of employment with the Company;

(b)Soliciting for any business which competes with the Company’s Business any competitive business from any of the Company’s customers during the twelve (12) months immediately preceding Executive’s termination of employment, or specific prospective customers solicited by the Company during the six (6) months immediately preceding Executive’s termination of employment; and

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(c)In the Market Area (as hereinafter defined), entering into, engaging in, being employed by, being connected to, consulting or rendering services for any business which competes with, or is similar to, the Company’s Business or business known to Executive to be conducted by the Company or planned to be conducted by the Company at the time of Executive’s separation from employment with the Company, in a capacity performing management functions similar to those performed or managed by Executive while employed by the Company.  This provision shall not restrict Executive from owning a passive investment interest of the outstanding equity ownership or share in an organization represented by securities publicly traded on a recognized national securities exchange.  For purposes of this provision, “Market Area” shall be defined as Savannah, Georgia; Raleigh, North Carolina; Jacksonville, Florida; Tampa, Florida; Hollywood, Florida; Jeffersonville, Indiana; Philadelphia, Pennsylvania; Wilmington, North Carolina; Laurel, Maryland; Houston, Texas; Atlanta Georgia and any other city or metropolitan area within the United States in which a hotel owned by the Company or with respect to which the Company or an affiliate has an ownership interest is located as of the last day of Executive’s Employment Term.

Section 9.Injunctive Relief.  Without intending to limit the remedies available to the Company, the Executive acknowledges that a breach of any of the covenants contained in Sections 7 and 8 hereof may result in material irreparable injury to the Company or its subsidiaries or affiliates for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of such a breach or threat thereof, the Company shall be entitled to obtain a temporary restraining order and/or a preliminary or permanent injunction, without the necessity of proving irreparable harm or injury as a result of such breach or threatened breach of Sections 7 and 8 hereof, restraining the Executive from engaging in activities prohibited by Sections 7 and 8 hereof or such other relief as may be required specifically to enforce any of the covenants in Sections 7 and 8 hereof.  

Section 10.Extension of Restricted Period.  In addition to the remedies the Company may seek and obtain pursuant to Section 9 of this Agreement, the Restricted Period shall be extended by any and all periods during which the Executive shall be found by a court to have been in violation of the covenants contained in Sections 7 and 8 hereof.

Section 11.Representations and Warranties.  The Executive and the Company represent and warrant to the other as follows:

(a)This Agreement, upon execution and delivery by the Executive and the Company, will be the valid and binding obligation of the Executive and the Company, respectively, enforceable against the Executive and the Company in accordance with its terms.

(b)As to the Executive only, neither the execution and delivery of this Agreement nor the performance of this Agreement in accordance with its terms and conditions by the Executive (i) requires the approval or consent of any governmental body or of any other person or (ii) conflicts with or results in any breach or violation of, or constitutes (or with notice or lapse of time or both would constitute) a default under, any agreement, instrument, judgment, decree, order, statute, rule, permit or governmental regulation applicable to the Executive.

(c)The representations and warranties of the Executive and the Company contained in this Section 11 shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.

Section 12.Assignment; No Third-Party Beneficiaries.  This Agreement shall inure to the benefit of, and be binding on, the successors and assigns of each of the parties, including, but not limited to, the Executive’s heirs, the Executive’s guardian in the event of the Executive’s disability, the personal representatives of the Executive’s estate and any successor to all or substantially all of the business and/or 

12Domalski Employment Agreement – 1/1/2018

 

assets of the Company.  This Agreement, and the Executive’s rights and obligations hereunder, may not be assigned by the Executive; any purported assignment by the Executive in violation hereof shall be null and void. The Company may assign this Agreement and its rights hereunder, but in the event of assignment, the assignee shall expressly assume all obligations of the Company hereunder and the Company shall remain fully liable for the performance of all of such obligations in the manner prescribed in this Agreement.  Except as otherwise provided herein, nothing in this Agreement shall confer upon any person or entity not a party to this Agreement, or the legal representatives of such person or entity, any rights or remedies of any nature or kind whatsoever under or by reason of this Agreement.

Section 13.Waiver and Amendments.  Any waiver, alteration, amendment or modification of any of the terms of this Agreement shall be valid only if made in writing and signed by the parties hereto.  No waiver by either of the parties hereto of their rights hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions hereunder unless such waiver specifically states that it is to be construed as a continuing waiver.

Section 14.Ethical Conduct.  Executive shall conduct business in an ethical manner by:

(a)Avoiding conflicts of interest;

(b)Complying with the Company’s Code of Business Conduct;

(c)Refusing to accept, and reporting to the Company the offering of, anything of material value, including a gift, loan on preferential terms, reward, promise of future employment, favor or service which would influence a reasonably prudent person in the discharge of his duties for the Company or which is based on any understanding that his action would be influenced; and

(d)Abiding by the Company’s policies and guidelines in place from time to time or which the Company may issue as it deems appropriate.

Section 15.Indemnification.  The Executive and the Company shall enter into an indemnification agreement providing for the indemnification of Executive to the fullest extent permitted by the laws of the Commonwealth of Virginia.

Section 16.Severability, Governing Law.  The Executive acknowledges and agrees that the covenants set forth in Sections 7 and 8 hereof are reasonable and valid in geographical and temporal scope and in all other respects.  If any of such covenants or such other provisions of this Agreement are found to be invalid or unenforceable by a final determination of a court or arbitration panel of competent jurisdiction (a) the remaining terms and provisions hereof shall be unimpaired and (b) the invalid or unenforceable term or provision shall be deemed replaced by a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF VIRGINIA APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO ITS CONFLICT OF LAWS RULES.

Section 17.

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Notices.

(a)All communications under this Agreement shall be in writing and shall be delivered by hand or mailed by overnight courier or by registered or certified mail, postage prepaid

	

	
If to the Company:Sotherly Hotels Inc.

	

	
410 West Francis Street 

	

	
Williamsburg, Virginia  23185

 

	

	
If to the Executive:Anthony E. Domalski

	

	
410 West Francis Street

	

	
Williamsburg, Virginia  23185

 

(b)Any notice so addressed shall be deemed to be given:  if delivered by hand, on the date of such delivery; if mailed by overnight courier, on the first business day following the date of such mailing; and if mailed by registered or certified mail, on the third business day after the day of such mailing.

Section 18.Section Headings.  The headings of the sections and subsections of this Agreement are inserted for convenience only and shall not be deemed to constitute a part thereof, affect the meaning or interpretation of this Agreement or of any term or provision hereof.

Section 19.Entire Agreement.  This Agreement constitutes the entire understanding and agreement of the parties hereto regarding the employment of the Executive.  This Agreement supersedes all prior negotiations, discussions, correspondence, communications, understandings and agreements between the parties relating to the subject matter of this Agreement.  The Prior Employment Agreement is hereby terminated and is of no further force or effect.

Section 20.Severability.  In the event that any part or parts of this Agreement shall be held illegal or unenforceable by any court or administrative body of competent jurisdiction, such determination shall not effect the remaining provisions of this Agreement which shall remain in full force and effect.  

Section 21.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 be considered one and the same agreement.

Section 22.Arbitration, Service, Venue, Jury Trial.  Any unresolved dispute or controversy arising or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a single arbitrator in Williamsburg, Virginia in accordance with the rules of the American Arbitration Association then in effect.  The arbitrator shall not have the authority to add to, detract from or modify any provision hereof nor to award punitive damages to any injured party.  The arbitrator shall have the authority to order back-pay, severance compensation, vesting of options (or cash compensation in lieu of vesting of options), reimbursement of costs, including those incurred to enforce this Agreement and interest thereon in the event the arbitrators determine that employee was terminated without Disability or Cause, each as defined herein, or that the Company has otherwise materially breached this Agreement.  A decision by the arbitrator shall be final and binding.  Judgment may be entered on the  arbitrator’s award in any court having jurisdiction.  Nothing in this section shall affect or limit the Company’s right to obtain any type of relief available to it in a court of law as a result of the Executive’s breach of Sections 7 and 8.  In the event either party seeks such relief, the parties hereby (i) submit to the exclusive jurisdiction of the circuit courts and the U.S. federal courts in the Commonwealth of Virginia, (ii) consent that any such action or proceeding may be brought in any such venue, (iii) waive any objection that any such action or proceeding, if brought in any such venue, was brought in any inconvenient forum and agree not to 

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claim the same, (iv) agree that any judgment in any such action or proceeding may be enforced in other jurisdictions, (v) consent to service of process at the address set forth in Section 17 herein and (vi) to the extent applicable, waive their respective rights to a jury trial of any claim or cause of action based on or arising out of this Agreement or any dealings between them relating to the subject matter of this Agreement.

Section 23.Section 409A.  The parties intend that this Agreement and the benefits provided hereunder be interpreted and construed to be exempt from or compliant with Section 409A of the Code to the extent applicable thereto.  Notwithstanding any provision of the Agreement to the contrary, the Agreement shall be interpreted and construed consistent with this intent, provided that the Company shall not be required to assume any increased economic burden in connection therewith.  Although the Company intends to administer the Agreement so that it will comply with the requirements of Section 409A of the Code, the Company does not represent or warrant that the Agreement will comply with Section 409A of the Code or any other provision of federal, state, local or non-United States law.  Except as otherwise provided in Section 6(g)(i)(C) with respect to any excise tax imposed under Section 4999 of the Code, neither the Company, nor its affiliates, nor their respective directors, officers, employees or advisers, shall be liable to the Executive (or any other individual claiming a benefit through the Executive) for any tax, interest or penalties the Executive may owe as a result of compensation paid under the Agreement, and the Company and its affiliates shall have no obligation to indemnify or otherwise protect the Executive from the obligation to pay any taxes pursuant to Section 409A of the Code.

15Domalski Employment Agreement – 1/1/2018

 

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

 

SOTHERLY HOTELS INC.

 

 

 

By: /s/ David R. Folsom

Name:  David R. Folsom

Title:    President and Chief Operating Officer

 

 

 

 

EXECUTIVE

 

 

 

By: /s/ Anthony E. Domalski

Name:   Anthony E. Domalski

Title:     Secretary and Chief Financial Officer

 

16Domalski Employment Agreement – 1/1/2018

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