Document:

Third Amendment to Purchase

 Exhibit 10.4 
 EXECUTION ORIGINAL 
 THIRD AMENDMENT TO PURCHASE AND SALE AGREEMENT 
 AND ESCROW INSTRUCTIONS 
 THIS THIRD
AMENDMENT TO PURCHASE AND SALE AGREEMENT AND ESCROW INSTRUCTIONS (“Third Amendment”) is made by and between the entities executing on behalf of the various selling entities listed on the signature page hereto (collectively,
“Seller”) and INNKEEPERS USA LIMITED PARTNERSHIP, a Virginia limited partnership (“Purchaser”) as of this 4th day of October, 2006. 
 WHEREAS, Seller and Purchaser entered into that certain Purchase and Sale Agreement and Escrow Instructions dated as of July 21,2006 (the “Original Agreement”), as amended by that certain
First Amendment to Purchase and Sale Agreement and Escrow Instructions, dated August 4, 2006, and by that certain Second Amendment to Purchase and Sale Agreement and Escrow Instructions, dated August 7, 2006 and by that certain Memorandum
of Purchase Price Allocation dated August 28, 2006 (collectively, the “Agreement”); and 
 WHEREAS, Seller and
Purchaser desire to amend the Agreement pursuant to the terms hereof. 
 NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Purchaser and Seller agree as follows: 
 1. Defined Terms. All
capitalized terms used in this Third Amendment, unless otherwise defined herein, shall have the meanings given such terms in the Agreement. 
 2. PIP Escrows. 
 2.1 Anaheim PIP Escrow. Notwithstanding anything to the contrary in Section 4.5
of the Original Agreement, Seller represents that Seller has completed all of the Anaheim PIP Work required under and in accordance with the terms of the Anaheim PIP other than the first item under the category, “Building, Entrance, Porte
Cochere and Signage,” in the Anaheim PIP (the “Driveway Work”). Seller also represents that the Anaheim PIP has not been amended or modified from the version of the Anaheim PIP previously provided by Seller to Purchaser. Seller
and Purchaser hereby agree that Seller shall provide a credit against the Purchase Price in the amount of Forty Thousand and No/100 Dollars ($40,000.00), and in consideration thereof, Purchaser shall assume all obligations under the Anaheim PIP with
respect solely to the Driveway Work and hereby releases Seller from any further obligation under the Anaheim PIP with respect to the Driveway Work. 
 2.2 Ontario PIP Escrow. With respect to the Ontario PIP, Seller represents that Seller has completed all of the Ontario PIP Work required under and in accordance with the terms of the Ontario PIP, other than the items set
forth in Schedule A attached hereto (the “Incomplete Items”), all of which remain incomplete as of Closing. Notwithstanding anything to the contrary in Section 4.5 of the Original Agreement, with respect to the
Incomplete Items, Seller and Purchaser hereby agree that Seller shall provide a credit against the Purchase Price for the Ontario Property in the amount of Two Hundred Seventy-Two Thousand Two Hundred Seventy-Five and No/100 Dollars ($272,275.00)
with respect to those Incomplete Items designated as items 38, 39,53,59, 60, 61, 62, 63 and 79 in the far left hand column on Schedule A (the “Credited Items).” In consideration of the foregoing credits, Purchaser shall
assume all obligations under the Ontario PIP with respect to the Credited Items and hereby releases Seller from any further obligation under the Ontario PIP with respect to the Credited Items. With respect to any remaining Incomplete Items other
than the Credited Items (such remaining Incomplete Items referred to hereinafter as the “Escrowed Items”), Seller shall credit against the Purchase Price for the Ontario Property the amount of Six Hundred Thirty Thousand One Hundred
Nineteen and No/100 Dollars ($630,119.00) less the deposits under the construction contracts for such work in the amount of Two Hundred Ninety-Eight Thousand Seven Hundred Seventy and No/100 Dollars ($298,770.00) for a net credit of Three Hundred
Twenty-Six Thousand Three Hundred Forty-Nine and No/100 Dollars ($326,349.00), provided such credited amount shall be deposited into the Ontario PIP Escrow, pursuant to and in accordance with the Ontario PIP Escrow Agreement, and Purchaser, subject
to Seller’s compliance with the terms of 

 the Ontario PIP Escrow Agreement, shall assume all obligations under the Ontario PIP with respect to the Escrowed Items
and shall be responsible for completing the Escrowed Items, provided Purchaser shall be entitled to draw against the Ontario PIP Escrow in accordance with the terms of the Ontario PIP Escrow Agreement for the costs to complete the Escrowed Items.
Seller shall assign all existing construction contracts related to the Incomplete Items as set forth on Schedule B attached hereto, to Purchaser including the right to any deposits previously made by Seller thereunder, it being agreed that
the amounts credited or placed in escrow as provided above reflect adjustments to the total cost of the applicable Incomplete Items covered by such contracts as agreed upon by the parties, less any such deposits. 
 3. Conflict. In the event of a conflict between terms and conditions of this Third Amendment and the terms and conditions of the Agreement,
the terms and conditions of this Third Amendment shall control. 
 4. No Further Modification. Except as set forth in this
Third Amendment, all other terms and provisions of the Agreement shall be and remain unmodified and in full force and effect. 
 5.
Facsimile/Electronic Signature Counterparts. This Third Amendment may be executed in facsimile or electronic pdf format counterparts, each facsimile or pdf signature shall be deemed an original, and all such facsimile or pdf signature
counterparts, when taken together, shall constitute one agreement. 
 IN WITNESS WHEREOF, Purchaser and Seller have executed this Third Amendment as of the
date set forth above. 
  

			
	SELLER:
	
	RLJ ONTARIO HOTEL, L.P., a Delaware limited partnership
		
	By:	 	RLJ Ontario Hotel General Partner, LLC, a Delaware limited liability company
		
	By:	 	 /s/ Thomas J. Baltimore, Jr.

		 	 Thomas J. Baltimore, Jr.
 President

  

 -2- 

					
	RLJ ONTARIO HOTEL - LESSEE, L.P., a Delaware limited partnership
		
	By:	 	RLJ Ontario Hotel Lessee General Partner, LLC, a Delaware limited liability company
			
		 	By:	 	 /s/ Thomas J. Baltimore, Jr.

		 		 	Thomas J. Baltimore, Jr.
		 		 	President
	
	RLJ ANAHEIM SUITES HOTEL, L.P., a Delaware limited partnership
		
	By:	 	RLJ Anaheim Suites Hotel General Partner, LLC, a Delaware limited liability company
			
		 	By:	 	 /s/ Thomas J. Baltimore, Jr.

		 		 	 Thomas J. Baltimore, Jr.
 President

	
	 RLJ ANAHEIM SUITES HOTEL LESSEE, L.P., a Delaware limited partnership

		
	By:	 	RLJ Anaheim Suites Hotel Lessee General Partner, LLC, a Delaware limited liability company
			
		 	By:	 	 /s/ Thomas J. Baltimore, Jr.

		 		 	 Thomas J. Baltimore, Jr.
 President

	
	RLJ ANAHEIM HOTEL, L.P., a. Delaware limited partnership
		
	By:	 	RLJ Anaheim Hotel General Partner, LLC, a Delaware limited liability company
			
		 	By:	 	 /s/ Thomas J. Baltimore, Jr.

		 		 	 Thomas J. Baltimore, Jr.
 President

	
	RLJ ANAHEIM HOTEL LESSEE, L.P., a Delaware limited liability company
		
	By:	 	RLJ Anaheim Hotel Lessee General Partner, LLC, a Delaware limited liability company
			
		 	By:	 	 /s/ Thomas J. Baltimore, Jr.

		 		 	 Thomas J. Baltimore, Jr.
 President

  

 -3- 

					
	RLJ SAN DIEGO - MISSION VALLEY HOTEL, L.P., a Delaware limited partnership
		
	By:	 	RLJ San Diego – Mission Valley Hotel General Partner, LLC, a Delaware limited liability company
			
		 	By:	 	 /s/ Thomas J. Baltimore, Jr.

		 		 	 Thomas J. Baltimore, Jr.
 President

	
	RLJ SAN DIEGO - MISSION VALLEY HOTEL LESSEE, L.P., a Delaware limited partnership
		
	By:	 	RLJ San Diego – Mission Valley Hotel Lessee General Partner, LLC, a Delaware limited liability company
			
		 	By:	 	 /s/ Thomas J. Baltimore, Jr.

		 		 	 Thomas J. Baltimore, Jr.
 President

	
	PURCHASER:
	
	INNKEEPERS USA LIMITED PARTNERSHIP, a Virginia limited partnership,
		
	BY:	 	Innkeepers Financial corporation, a Virginia corporation, Sole General Partner
			
		 	By:	 	 /s/ Mark A. Murphy

		 	Name:	 	Mark A. Murphy
		 	Title:	 	Vice President

  

 -4- 

 SCHEDULE A 
  

			
	

	  	3 Bethesda Metro Center
	  	Suite 1000
	  	Bethesda , MD 20814
	  	301.280.7777

  

			
	 Project:
	  	Ontario Hilton Suites
		  	 Phase III-Tower/Remaining PIP Items

		
	 Prepared by:
	  	Rachael Gursky
	 Checked by:
	  	Carl Mayfield
	 Date: 10/3/2006
	  	

  

																
	 Item Number
 (Ties to CRS
Scope)
	  	Area	  	 Scope
	  	 Budgeted
 Amount
	  	Target
Completion	  	 Amount
 Paid
	  	Remaining
Amount
	1	  	General
Requirements	  	Remove the telephone banks located throughout the hotel. Pay telephones must be provided, but coin operation is not necessary. Provide house telephones. Telephones may be installed in new
decorative millwork and granite banks or may be installed in soft seating areas on end tables. Repair all walla to a like new condition where telephone banks have been removed. – HOTEL ATTIC STOCK	  	$	5,500	  	12/30/2006	  	$	—  	  	$	5,500
							
	2	  	Gift Shop	  	Provide a background music system.	  	$	3,250	  	12/30/2006	  			  	$	3,250
							
	3	  	Gift Shop	  	Install additional lighting. This area is too dim.	  	$	8,500	  	12/30/2006	  			  	$	8,500
							
	4	  	Business
Center	  	Provide an entry door controlled by an electronic lock.	  	$	3,500	  	12/30/2006	  			  	$	3,500
							
	INNKEEPERS	  	Restaurant	  	Remove the folding table buffet line. If a buffet is used, it must have millwork cabinets, a granite top and a sneeze guard.	  	$	200,000	  	12/30/2006	  			  	$	200,00
							
	INNKEEPERS	  	Restaurant	  	Remove the remnants of old ceiling fans from the ceiling. Repair the ceiling. All public area ceilings must be flat painted gyp board with no more than 30% acoustic tile. Acoustic tile must be
2" with a tegular edge.	  	$	—  	  	12/30/2008	  			  	$	—  
							
	INNKEEPERS	  	Restaurant	  	Repair and refinish or replace the doors to remove scars. Replace the hardware (wom).	  	$	—  	  	12/30/2005	  			  	$	—  

 SCHEDULE A 
 -1- 

															
	 Item Number
 (Ties to CRS
Scope)
	  	 Area
	  	 Scope
	  	Budgeted
Amount	  	Target
Completion	  	Amount
Paid	  	Remaining
Amount
	11	  	Corridors/Elevator/Stairwells	  	Install approved wood substitute base boards in all corridors.	  	$	49,500	  	12/30/2006	  		  	$	49,500
							
	12	  	Corridors/Elevator/Stairwells	  	Install wood or approved wood substitute crown molding in all corridors.	  	$	11,000	  	12/30/2006	  		  	$	11,000
							
	8	  	Corridors/Elevator/Stairwells	  	Scrub or refinish all guest room entry doors to remove scuffs and scars.	  	$	12,000	  	12/30/2006	  		  	$	12,000
							
	RLJ	  	Corridors/Elevator/Stairwells	  	Replace or re-upholster the soft seating at the upper floor elevator landings.- PROCURE	  	$	4,820	  	12/30/2006	  		  	$	4,820
							
	9	  	Corridors/Elevator/Stairwells	  	Replace or re-upholster the soft seating at the upper floor elevator landings. - INSTALL	  	$	500	  	12/30/2006	  		  	$	500
							
	10	  	Corridors/Elevator/Stairwells	  	Restore or refinish the marble top to like new condition on all elevator landing sofa tables or replace with granite.	  	$	5,310	  	12/30/2006	  		  	$	5,310
							
	13	  	Corridors/Elevator/Stairwells	  	Remove the stairwell door signs. Install only appropriate new signage. Repair and paint doors.	  	$	1,750	  	12/30/2006	  		  	$	1,750
							
	14	  	Corridors/Elevator/Stairwells	  	Replace all stairwell light fixtures. Install more decorative fixtures. The existing fixtures are very industrial and in poor repair. Request for waiver declined.	  	$	7,600	  	12/30/2006	  		  	$	7,600
							
	15	  	Corridors/Elevator/Stairwells	  	Repair and paint all stairwell walls.	  	$	25,000	  	12/30/2006	  		  	$	25,000
							
	16	  	Corridors/Elevator/Stairwells	  	Clean and paint all stairwell treads and landings. Ensure proper slip resistance.	  	$	26,550	  	12/30/2006	  		  	$	26,550
							
	17	  	Corridors/Elevator/Stairwells	  	Elevators – Repair and restore the wall panels to like new condition or replace the wall panels (chipped).	  	$	825	  	12/30/2006	  		  	$	825
							
	13	  	Corridors/Elevator/Stairwells	  	Strip and paint all service doors and frames to remove scars. Replace if necessary to remove embedded scars.	  	 
 	see 13
above	  	12/30/2006	  		  		
							
	19	  	 Ballroom
 Salon I, II, III
	  	Refinish the doors to remove scratches and scars. Replace tarnished or damaged door hardware.	  	$	11,080	  	12/30/2006	  		  	$	11,080
							
	22	  	 Meeting Room
 Pre-Function
	  	Repair and refinish doors to like new condition or replace.	  	 
 	see 22
below	  	12/30/2006	  		  		
							
	22	  	 Parlor Room
 Meeting Rooms
	  	Repair and refinish doors to like new condition or replace.	  	$	5,100	  	12/30/2006	  		  	$	5,100

 SCHEDULE A 
 -2- 

															
	 Item Number
 (Ties to CRS
Scope)
	  	 Area
	  	 Scope
	  	Budgeted
Amount	  	Target
Completion	  	Amount
Paid	  	Remaining
Amount
	23	  	 Parlor Room
 Meeting Rooms
	  	Replace the serving counters. Install granite tops and millwork cabinets. Request for waiver declined.	  	$	22,500	  	12/30/2006	  		  	$	22,500
							
	INNKEEPERS	  	Parlor Room Meeting Rooms	  	Install a decorative framed mirror over the service bar. - PROCURE	  	$	300	  	12/30/2006	  		  	$	300
							
	INNKEEPERS	  	Parlor Room Meeting Rooms	  	Install a decorative framed mirror over the service bar. - INSTALL	  	$	120	  	12/30/2006	  		  	$	120
							
	21	  	Parlor Room Meeting Rooms	  	Install six inch decorative wood base board or restore to like new condition.	  	$	6,000	  	12/30/2006	  		  	$	6,000
							
	28	  	Parlor Room Meeting Rooms	  	Replace the cracked ice light fixtures and lens at the entry doors. Install smooth painted drywall and can light fixtures.	  	$	4,680	  	12/30/2006	  		  	$	4,680
							
	20	  	Parlor Room Meeting Rooms	  	Renovate the abandoned bath room. Remove all bath fixtures and convert the space to storage or meet the requirements for a public rest room.	  	$	17,250	  	12/30/2006	  		  	$	17,250
							
	25	  	Parlor Room Meeting Rooms	  	Replace the eraser board.-INSTALL	  	$	150	  	12/30/2006	  		  	$	150
							
	28	  	Conference I & II Meeting Room	  	Entry doors must be solid core wood, with a peep hole viewing in to the space.	  	$	2,460	  	12/30/2006	  		  	$	2,450
							
	29	  	Conference I & II Meeting Room	  	Replace the eraser board.-INSTALL	  	$	150	  	12/30/2006	  		  	$	150
							
	27	  	Amphitheater Meeting Room	  	Install an electrically operated projection screen, recessed into the ceiling. A smooth painted drywall sollit is acceptable.-JUST CROWN MOLDING	  	$	750	  	12/30/2006	  		  	$	750
							
	25	  	Amphitheatre Meeting Room	  	Replace the eraser board,-INSTALL	  	 	see 25 above	  	12/30/2006	  		  		
							
	31	  	Plaza Meeting Room	  	Install six inch decorative wood base board.	  	$	3,000	  	12/30/2006	  		  	$	3,000

 SCHEDULE A 
 -3- 

															
	 Item Number
(Ties to CRS
Scope)
	  	 Area
	  	 Scope
	  	Budgeted
Amount	  	Target
Completion	  	Amount
Paid	  	Remaining
Amount
	30	  	Plaza Meeting Room	  	Refinish the doors to remove scratches and scars	  	$	4,050	  	12/30/2006	  		  	$	4,050
	21	  	Board Room	  	Install six inch wood base board.	  	 	see 21 above	  	12/30/2006	  		  		
	23	  	Board Room	  	Install a service bar with a granite top	  	 	see 23 above	  	12/30/2006	  		  		
	22	  	Board Room	  	Repair and refinish doors to like new condition	  	 	see 22 above	  	12/30/2006	  		  		
	INNKEEPERS	  	Board Room	  	Replace the art work-PROCURE	  	$	300	  	12/30/2006	  		  	$	300
	24	  	Board Room	  	Replace the art work-INSTALL	  	 	see 24 above	  	12/30/2006	  		  		
	25	  	Board Room	  	Replace the eraser-board.	  	 	see 25 above	  	12/30/2006	  		  		
	20	  	Board Room	  	Renovate the rest room to the same level as the public rest rooms.	  	 	see 20 above	  	12/30/2006	  		  		
	32	  	Call Meeting Room	  	Install six inch decorative approved wood substitute base board.	  	$	1,050	  	12/30/2006	  		  	$	1,050
	33	  	Call Meeting Room	  	Replace the chandeliers. Install decorative light fixtures and dimmable light sources.	  	$	4,125	  	12/30/2006	  		  	$	4,125
	INNKEEPERS	  	Pool Area	  	Install “depth” and “no diving” markers in 4” tile recessed into the deck.	  	$	500	  	11/30/2006	  		  	$	500
	INNKEEPERS	  	Pool Area	  	Remove all stencils from the deck.	  	$	500	  	11/30/2006	  		  	$	500
	INNKEEPERS	  	Pool Area	  	Replace all cracked concrete decking, or repair all cracks and install a decorative coating similar to brick tile.	  	$	40,000	  	11/30/2006	  		  	$	40,000
	INNKEEPERS	  	Pool Area	  	Replace all pool furniture. Strap furniture is not acceptable - PROCURE	  	$	25,000	  	12/30/2006	  		  	$	25,000
	INNKEEPERS	  	Pool Area	  	Replace all pool furniture. Strap furniture is not acceptable - INSTALL	  	$	555	  	12/30/2006	  		  	$	555
	n/a	  	Exercise Room	  	Install two, 27” ceiling mounted televisions - PROCURE	  	$	1,000	  	12/30/2006	  		  	$	1,000
	35	  	Exercise Room	  	Install two, 27” ceiling mounted televisions - INSTALL	  	$	750	  	12/30/2006	  		  	$	750
	36	  	Exercise Room	  	Install new vinyl wall covering - HOTEL ATTIC STOCK VWO	  	$	1,085	  	12/30/2006	  		  	$	1,085
	37	  	Housekeeping/Laundry	  	Repair and paint all service elevator landings in the public corridors	  	$	19,500	  	12/30/2006	  		  	$	19,500
	38	  	Housekeeping/Laundry	  	Repair and paint or install VCT in all service elevator landings in the public corridors	  	$	3,720	  	12/30/2006	  		  	$	3,720

 SCHEDULE A 
 -4- 

															
	 Item Number
(Ties to CRS
Scope)
	  	Area	  	 Scope
	  	Budgeted
Amount	  	Target
Completion	  	Amount
Paid	  	Remaining
Amount
	n/a	  	Tower
Bedrooms	  	Provide a table or case good piece outside of the bathroom wall for coffee maker. Requires electrical outlet in the wall - PROCURE-BENJAMIN WEST PURCHASING AGENT	  	$	53,000	  	12/30/2006	  		  	$	53,000
							
	39	  	Tower
Bedrooms	  	Provide a table or case good piece outside of the bathroom wall for coffee maker. Requires electrical outlet in the wall - ELECTRIC AND INSTALL	  	$	42,400	  	12/30/2006	  		  	$	42,400
							
	42	  	Tower
Bedrooms	  	Install all TV’s in a 4 drawer mid-rise chest of drawers (approximately 42” tall) with a granite top and pole mount so that a flat panel TV can be installed at a later date	  	$	66,250	  	12/30/2006	  		  	$	66,250
							
	n/a	  	Tower
Bedrooms	  	Brushed and Hammered Stainless Steel Accessories, a Hilton Brand Exclusive, will be available in mid July. In addition to a uniquely designed ice bucket, ice bucket-tray, note paper & pen
holder, we will have new note logo note paper, a new in-room glassware program and a new Hilton pen to coordinate with the elegant look of our newly designed accessories.	  	 	Property	  	9/30/2006	  		  		
							
	40	  	Tower
Bedrooms	  	Replace the vanity tops, install granite vanity tops.	  	$	15,470	  	12/30/2006	  		  	$	15,470
							
	41	  	Tower
Bedrooms	  	Replace the laminate cabinets. Install decorative millwork cabinets.	  	$	6,110	  	12/30/2006	  		  	$	6,110
							
	n/a	  	Cabana
Bedrooms	  	Brushed and Hammered Stainless Steel Accessories, a Hilton Brand Exclusive, will be available in mid July. In addition to a uniquely designed ice bucket, ice bucket tray, note paper & pen
holder, we will have new note logo note paper, a new in-room glassware program and a new Hilton pen to coordinate with the elegant look of our newly designed accessories	  	 	Property	  	9/30/2006	  		  		
							
	43	  	CRS contract	  	General Conditions	  	$	57,800	  	12/30/2006	  		  	$	57,800
							
	44	  	CRS contract	  	Soft Cost	  	$	35,200	  	12/30/2006	  		  	$	35,200
							
	45	  	CRS contract	  	Overhead and Profit	  	$	74,884	  	12/30/2006	  		  	$	74,884
							
	INNKEEPERS	  	Public Space	  	Bell stand	  	$	5,000	  		  		  	$	5,000

 SCHEDULE A 
 -5- 

																	
	 Item Number
 (Ties to CRS
Scope)
	  	Area	  	 Scope
	  	Budgeted
Amount	  	Target
Completion	  	Amount
Paid	 	 	Remaining
Amount
	 Total
	  		  		  	$	897,394	  		  	$	(298,770	)	 	$	598,624
		  		  	 Credit
	  	$	272,275	  		  				 		
		  		  	 Escrow
	  	$	326,349	  		  				 		
		  		  		  	 	 	  		  				 		
		  		  	 Total
	  	$	698,624	  		  				 		
		  		  		  	 	 	  		  				 		

 RLJ Signature: 
 Innkeepers Signature: 
 SCHEDULE A 
 -6- 

 SCHEDULE B 
 ASSIGNED CONSTRUCTION CONTRACTS 
  

	1.	Construction Services Agreement between RLJ ONTARIO HOTEL LESSEE, L.P., a Delaware limited liability company, and COMMERCIAL RENOVATION SERVICES, INC., a corporation, dated
September 8, 2006. 

  

	2.	Vitality Furniture Group, Inc., Purchase Order No. RLJ-326-001, dated September 25, 2006. 

  

	3.	Guest Supply, Purchase Order No. COFF-RUTH, dated August 25, 2006. 

 SCHEDULE B 
 -1-Indemnification Agreement

 Exhibit 10.5 
 INDEMNIFICATION AGREEMENT 
 THIS INDEMNIFICATION AGREEMENT is made and entered into this
31st day of March, 2006 (“Agreement”), by and between Innkeepers USA Trust, a Maryland real estate
investment trust (the “Company”), and Dennis M. Craven (“Indemnitee”). 
 WHEREAS, at the request of the Company,
Indemnitee currently serves as a trustee of the Company and may, therefore, be subjected to claims, suits or proceedings arising as a result of his service; and 
 WHEREAS, as an inducement to Indemnitee to continue to serve as such trustee, the Company has agreed to indemnify and to advance expenses and costs incurred by Indemnitee in connection with any such claims, suits or
proceedings, to the maximum extent permitted by law; and 
 WHEREAS, the parties by this Agreement desire to set forth their agreement
regarding indemnification and advance of expenses; 
 NOW, THEREFORE, in consideration of the premises and the covenants contained herein,
the Company and Indemnitee do hereby covenant and agree as follows: 
 Section 1. Definitions. For purposes of this Agreement:

 (a) “Change in Control” means a change in control of the Company occurring after the Effective Date of a nature that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended (the “Act”),
whether or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such a Change in Control shall be deemed to have occurred if after the Effective Date (i) any “person” (as such
term is used in Sections 13(d) and 14(d) of the Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the Company representing 15% or more of the combined voting power
in the election of trustees of the Company’s then outstanding securities without the prior approval of at least two-thirds of the members of the Board of Trustees in office immediately prior to such person attaining such percentage interest;
(ii) there occurs a proxy contest, or the Company is a party to a merger, consolidation, sale of assets, plan of liquidation or other reorganization not approved by at least two-thirds of the members of the Board of Trustees then in office, as
a consequence of which members of the Board of Trustees in office immediately prior to such transaction or event constitute less than a majority of the Board of Trustees thereafter; or (iii) during any period of two consecutive years, other
than as a result of an event described in clause (a)(ii) of this Section 1, individuals who at the beginning of such period constituted the Board of Trustees (including for this purpose any new trustee whose election or nomination for election
by the Company’s shareholders was approved by a vote of at least two-thirds of the trustees then still in office who were trustees at the beginning of such period) cease for any reason to constitute at least a majority of the Board of Trustees.

 (b) “Corporate Status” means the status of a person who is or was a director, trustee, officer,
employee or agent of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise for which such person is or was serving at the request of the Company. 
 (c) “Disinterested Trustee” means a trustee of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee. 
 (d) “Effective Date” means the date set forth in the first paragraph of this Agreement. 
 (e) “Expenses” shall include all reasonable and out-of-pocket attorneys’ fees, retainers, court costs, transcript costs, fees of experts,
witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending,
preparing to prosecute or defend, investigating, or being or preparing to be a witness in a Proceeding. 
 (f) “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law as applicable to Maryland real estate investment trusts and neither is, nor in the past five years has been, retained to represent:
(i) the Company or Indemnitee in any matter material to either such party, or (ii) any other party to or witness in the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term
“Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. If a Change of Control has not occurred, Independent Counsel shall be selected by the Board of Trustees, with the approval of Indemnitee, which approval will not be unreasonably withheld. If a Change of
Control has occurred, Independent Counsel shall be selected by Indemnitee, with the approval of the Board of Trustees, which approval will not be unreasonably withheld. 
 (g) “Proceeding” includes any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, administrative hearing or any other proceeding, whether civil,
criminal, administrative or investigative (including on appeal), except one pending or completed on or before the Effective Date, unless otherwise specifically agreed in writing by the Company and Indemnitee. 
 Section 2. Services by Indemnitee. Indemnitee will serve as a trustee of the Company. However, this Agreement shall not impose any obligation
on Indemnitee or the Company to continue Indemnitee’s service to the Company beyond any period otherwise required by law or by other agreements or commitments of the parties, if any. 
  

 2 

 Section 3. Indemnification - General. The Company shall indemnify, and advance Expenses to,
Indemnitee (a) as provided in this Agreement and (b) otherwise to the maximum extent permitted by Maryland law in effect on the date hereof and as amended from time to time; provided, however, that no change in Maryland law shall have the
effect of reducing the benefits available to Indemnitee hereunder based on Maryland law as in effect on the date hereof. The rights of Indemnitee provided in this Section 3 shall include, without limitation, the rights set forth in the other
sections of this Agreement, including any additional indemnification permitted by Section 2-418(g) of the Maryland General Corporation Law (“MGCL”), as applicable to a Maryland real estate investment trust by virtue of
Section 8-301(15) of the Maryland REIT Law. 
 Section 4. Proceedings Other Than Proceedings by or in the Right of the
Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section 4 if, by reason of his Corporate Status, he is, or is threatened to be, made a party to or a witness in any threatened, pending, or completed
Proceeding, other than a Proceeding by or in the right of the Company. Pursuant to this Section 4, Indemnitee shall be indemnified against all judgments, penalties, fines and amounts paid in settlement and all Expenses actually and reasonably
incurred by him or on his behalf in connection with a Proceeding by reason of his Corporate Status unless it is established that (i) the act or omission of Indemnitee was material to the matter giving rise to the Proceeding and (a) was
committed in bad faith or (b) was the result of active and deliberate dishonesty, (ii) Indemnitee actually received an improper personal benefit in money, property or services, or (iii) in the case of any criminal Proceeding,
Indemnitee had reasonable cause to believe that his conduct was unlawful. 
 Section 5. Proceedings by or in the Right of the
Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section 5 if, by reason of his Corporate Status, he is, or is threatened to be, made a party to or a witness in any threatened, pending or completed
Proceeding brought by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 5, Indemnitee shall be indemnified against all amounts paid in settlement and all Expenses actually and reasonably incurred by him
or on his behalf in connection with such Proceeding unless it is established that (i) the act or omission of Indemnitee was material to the matter giving rise to such a Proceeding and (a) was committed in bad faith or (b) was the
result of active and deliberate dishonesty or (ii) Indemnitee actually received an improper personal benefit in money, property or services. 
 Section 6. Court-Ordered Indemnification. Notwithstanding any other provision of this Agreement, a court of appropriate jurisdiction, upon application of Indemnitee and such notice as the court shall require, may order
indemnification in the following circumstances: 
 (a) if it determines Indemnitee is entitled to reimbursement under Section 2-418(d)(1)
of the MGCL, the court shall order indemnification, in which case Indemnitee shall be entitled to recover the expenses of securing such reimbursement; or 
  

 3 

 (b) if it determines that Indemnitee is fairly and reasonably entitled to indemnification in view of all
the relevant circumstances, whether or not Indemnitee (i) has met the standards of conduct set forth in Section 2-418(b) of the MGCL or (ii) has been adjudged liable for receipt of an improper personal benefit under
Section 2-418(c) of the MGCL, the court may order such indemnification as the court shall deem proper. However, indemnification with respect to any Proceeding by or in the right of the Company or in which liability shall have been adjudged in
the circumstances described in Section 2-418(c) of the MGCL shall be limited to Expenses actually and reasonably incurred by him or on his behalf in connection with a Proceeding. 
 Section 7. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement,
and without limiting any such provision, to the extent that Indemnitee is, by reason of his Corporate Status, made a party to and is successful, on the merits or otherwise, in the defense of any Proceeding, he shall be indemnified for all Expenses
actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters
in such Proceeding, the Company shall indemnify Indemnitee under this Section 7 for all Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully resolved claim, issue or matter, allocated on a
reasonable and proportionate basis. For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such
claim, issue or matter. 
 Section 8. Advance of Expenses. The Company shall advance all reasonable Expenses actually and
reasonably incurred by or on behalf of Indemnitee in connection with any Proceeding (other than a Proceeding brought to enforce indemnification under this Agreement, applicable law, the Declaration of Trust or Bylaws of the Company, any agreement or
a resolution of the shareholders entitled to vote generally in the election of trustees or of the Board of Trustees) to which Indemnitee is, or is threatened to be, made a party or a witness, within ten days after the receipt by the Company of a
statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee
and shall include or be preceded or accompanied by a written affirmation by Indemnitee of Indemnitee’s good faith belief that the standard of conduct necessary for indemnification by the Company as authorized by law and by this Agreement has
been met and a written undertaking by or on behalf of Indemnitee, in substantially the form attached hereto as Exhibit A or in such form as may be required under applicable law as in effect at the time of the execution thereof, to reimburse
the portion of any Expenses advanced to Indemnitee relating to claims, issues or matters in the Proceeding as to which it shall 
  

 4 

 ultimately be established that the standard of conduct has not been met and which have not been successfully resolved as
described in Section 7. To the extent that Expenses advanced to Indemnitee do not relate to a specific claim, issue or matter in the Proceeding, such Expenses shall be allocated on a reasonable and proportionate basis. The undertaking required
by this Section 8 shall be an unlimited general obligation by or on behalf of Indemnitee and shall be accepted without reference to Indemnitee’s financial ability to repay such advanced Expenses and without any requirement to post security
therefor. The Company shall advance all reasonable Expenses actually and reasonably incurred by or on behalf of Indemnitee’s spouse in connection with any Proceeding (other than a Proceeding brought to enforce indemnification under this
Agreement, applicable law, the Declaration of Trust or Bylaws of the Company, any agreement or a resolution of the shareholders entitled to vote generally in the election of trustees or of the Board of Trustees) to which Indemnitee’s spouse, as
a result of Indemnitee’s Corporate Status, is, or is threatened to be, made a party or a witness, within ten days after the receipt by the Company of a statement or statements from Indemnitee and/or Indemnitee’s spouse requesting such
advance or advances from time to time, whether prior to or after final disposition of such Proceeding, and after receipt from Indemnitee of the undertaking and affirmation above. 
 Section 9. Procedure for Determination of Entitlement to Indemnification. 
 (a) To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such
documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a
request for indemnification, advise the Board of Trustees in writing that Indemnitee has requested indemnification. 
 (b) Upon written
request by Indemnitee for indemnification pursuant to the first sentence of Section 9(a) hereof, a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall promptly be made in the specific case:
(i) if a Change in Control shall have occurred, by Independent Counsel in a written opinion to the Board of Trustees, a copy of which shall be delivered to Indemnitee; or (ii) if a Change of Control shall not have occurred, (A) by the
Board of Trustees (or a duly authorized committee thereof) by a majority vote of a quorum consisting of Disinterested Trustees (as herein defined), or (B) if a quorum of the Board of Trustees consisting of Disinterested Trustees is not
obtainable or, even if obtainable, such quorum of Disinterested Trustees so directs, by Independent Counsel in a written opinion to the Board of Trustees, a copy of which shall be delivered to Indemnitee, or (C) if so directed by a majority of
the members of the Board of Trustees, by the shareholders of the Company. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten days after such determination. Indemnitee shall cooperate
with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information
which is not 
  

 5 

 privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably
necessary to such determination in the discretion of the Board of Trustees or Independent Counsel if retained pursuant to clause (ii)(B) of this Section 9. Any Expenses actually and reasonably incurred by Indemnitee in so cooperating with the
person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company shall indemnify and hold Indemnitee harmless therefrom.

 Section 10. Presumptions and Effect of Certain Proceedings. 
 (a) In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall
presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 9(a) of this Agreement, and the Company shall have the burden of proof to overcome
that presumption in connection with the making of any determination contrary to that presumption. 
 (b) The termination of any Proceeding by
judgment, order, settlement, conviction, a plea of nolo contendere or its equivalent, or an entry of an order of probation prior to judgment, does not create a presumption that Indemnitee did not meet the requisite standard of conduct
described herein for indemnification. 
 Section 11. Remedies of Indemnitee. 
 (a) If (i) a determination is made pursuant to Section 9 of this Agreement that Indemnitee is not entitled to indemnification under this
Agreement, (ii) advance of Expenses is not timely made pursuant to Section 8 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 9(b) of this Agreement within 90
days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 7 of this Agreement within ten days after receipt by the Company of a written request therefor, or
(v) payment of indemnification is not made within ten days after a determination has been made that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to an adjudication in an appropriate court located in the State of
Maryland, or in any other court of competent jurisdiction, of his entitlement to such indemnification or advance of Expenses. Alternatively, Indemnitee, at his option, may seek an award in arbitration to be conducted by a single arbitrator pursuant
to the commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to
commence such proceeding pursuant to this Section 11(a); provided, however, that the foregoing 180-day limit shall not apply to a proceeding brought by Indemnitee to enforce his rights under Section 7 of this Agreement. 
  

 6 

 (b) In any judicial proceeding or arbitration commenced pursuant to this Section 11, the Company
shall have the burden of proving that Indemnitee is not entitled to indemnification or advance of Expenses, as the case may be. 
 (c) If a
determination shall have been made pursuant to Section 9(b) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this
Section 11, absent a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification. 
 (d) In the event that Indemnitee, pursuant to this Section 11, seeks a judicial adjudication of or an award in arbitration to enforce his rights
under, or to recover damages for breach of, this Agreement, Indemnitee shall be entitled to recover from the Company, and shall be indemnified by the Company for, any and all Expenses actually and reasonably incurred by him in such judicial
adjudication or arbitration. If it shall be determined in such judicial adjudication or arbitration that Indemnitee is entitled to receive part but not all of the indemnification or advance of Expenses sought, the Expenses incurred by Indemnitee in
connection with such judicial adjudication or arbitration shall be appropriately prorated. If it shall be determined in such judicial adjudication or arbitration that Indemnitee is not entitled to indemnification or advance of Expenses sought,
Indemnitee shall not be entitled to recover from the Company, and shall not be indemnified by the Company for, any and all Expenses incurred by him in such judicial adjudication or arbitration. 
 Section 12. Defense of the Underlying Proceeding. 
 (a) Indemnitee shall notify the Company promptly upon being served with or receiving any summons, citation, subpoena, complaint, indictment, information, notice, request or other document relating to any Proceeding
which may result in the right to indemnification or the advance of Expenses hereunder; provided, however, that the failure to give any such notice shall not disqualify Indemnitee from the right, or otherwise affect in any manner any right of
Indemnitee, to indemnification or the advance of Expenses under this Agreement unless the Company’s ability to defend in such Proceeding or to obtain proceeds under any insurance policy is materially and adversely prejudiced thereby, and then
only to the extent the Company is thereby actually so prejudiced. 
 (b) Subject to the provisions of the last sentence of this
Section 12(b) and of Section 12(c) below, the Company shall have the right to defend Indemnitee in any Proceeding which may give rise to indemnification hereunder; provided, however, that the Company shall notify Indemnitee of any such
decision to defend within 15 calendar days following receipt of notice of any such Proceeding under Section 12(a) above. The Company shall not, without the prior written consent of Indemnitee, which shall not be unreasonably withheld or
delayed, consent to the entry of any judgment against Indemnitee or enter into any settlement or compromise which (i) includes an admission 
  

 7 

 of fault of Indemnitee or (ii) does not include, as an unconditional term thereof, the full release of Indemnitee
from all liability in respect of such Proceeding, which release shall be in form and substance reasonably satisfactory to Indemnitee. This Section 12(b) shall not apply to a Proceeding brought by Indemnitee under Section 11 above or
Section 18 below. 
 (c) Notwithstanding the provisions of Section 12(b) above, if in a Proceeding to which Indemnitee is a party
by reason of Indemnitee’s Corporate Status, (i) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld, that he may have separate defenses or
counterclaims to assert with respect to any issue which may not be consistent with other defendants in such Proceeding, (ii) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not be
unreasonably withheld, that an actual or apparent conflict of interest or potential conflict of interest exists between Indemnitee and the Company, or (iii) if the Company fails to assume the defense of such Proceeding in a timely manner,
Indemnitee shall be entitled to be represented by separate legal counsel of Indemnitee’s choice, subject to the prior approval of the Company, which shall not be unreasonably withheld, at the expense of the Company. In addition, if the Company
fails to comply with any of its obligations under this Agreement or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any Proceeding to deny or to recover from
Indemnitee the benefits intended to be provided to Indemnitee hereunder, Indemnitee shall have the right to retain counsel of Indemnitee’s choice, subject to the prior approval of the Company, which shall not be unreasonably withheld, at the
expense of the Company (subject to Section 11(d)), to represent Indemnitee in connection with any such matter. 
 Section 13.
Non-Exclusivity; Survival of Rights; Subrogation; Insurance.  
 (a) The rights of indemnification and advance of Expenses as provided
by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Declaration of Trust or Bylaws of the Company, any agreement or a resolution of the shareholders entitled
to vote generally in the election of trustees or of the Board of Trustees, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect
of any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal. 
 (b) In the event
of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 
 (c) The Company shall not be
liable under this Agreement to make any payment of amounts otherwise indemnifiable or payable or reimbursable as Expenses hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy,
contract, agreement or otherwise. 
  

 8 

 Section 14. Insurance. The Company will use its reasonable best efforts to acquire trustees
and officers liability insurance, on terms and conditions deemed appropriate by the Board of Trustees of the Company, with the advice of counsel, covering Indemnitee or any claim made against Indemnitee for service as a trustee or officer of the
Company and covering the Company for any indemnification or advance of Expenses made by the Company to Indemnitee for any claims made against Indemnitee for service as a trustee or officer of the Company. In determining whether to acquire insurance
or the terms and conditions of any insurance acquired, the Board of Trustees of the Company may consider all facts that it deems relevant to its decision, including cost. Without in any way limiting any other obligation under this Agreement, the
Company shall indemnify Indemnitee for any payment by Indemnitee arising out of the amount of any deductible or retention and the amount of any excess of the aggregate of all judgments, penalties, fines, settlements and reasonable Expenses actually
and reasonably incurred by Indemnitee in connection with a Proceeding over the coverage of any insurance referred to in the previous sentence. 
 Section 15. Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is or may be, by reason of his Corporate Status, a witness in any Proceeding, whether
instituted by the Company or any other party, and to which Indemnitee is not a party but in which the Indemnitee receives a subpoena to testify, he shall be advanced all reasonable Expenses and indemnified against all Expenses actually and
reasonably incurred by him or on his behalf in connection therewith. 
 Section 16. Duration of Agreement; Binding Effect.

 (a) This Agreement shall continue until and terminate ten years after the date that Indemnitee’s Corporate Status shall have ceased;
provided, that the rights of Indemnitee hereunder shall continue until the final termination of any Proceeding then pending in respect of which Indemnitee is granted rights of indemnification or advance of Expenses hereunder and of any proceeding
commenced by Indemnitee pursuant to Section 11 of this Agreement relating thereto. 
 (b) The indemnification and advance of Expenses
provided by, or granted pursuant to, this Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or
otherwise to all or substantially all of the business or assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, trustee, officer, employee or agent of the Company or of any other corporation, partnership, joint
venture, trust, employee benefit plan or other enterprise which such person is or was serving at the written request of the Company, and shall inure to the benefit of Indemnitee and his spouse, assigns, heirs, devisees, executors and administrators
and other legal representatives. 
  

 9 

 (c) The Company shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 
 Section 17. Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining
provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable that is not itself invalid, illegal or unenforceable) shall not in
any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby. 
 Section 18. Exception to Right of Indemnification or Advance of Expenses. Notwithstanding any other provision of this Agreement, Indemnitee shall not be entitled to indemnification or advance of Expenses
under this Agreement with respect to any Proceeding brought by Indemnitee, unless (a) the Proceeding is brought to enforce indemnification under this Agreement, and then only to the extent in accordance with and as authorized by Sections 8 and
11 of this Agreement, or (b) the Company’s Bylaws, as amended, the Declaration of Trust, a resolution of the shareholders entitled to vote generally in the election of trustees or of the Board of Trustees or an agreement approved by the
Board of Trustees to which the Company is a party expressly provide otherwise. 
 Section 19. Identical Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. One such counterpart signed by the party against whom
enforceability is sought shall be sufficient to evidence the existence of this Agreement. 
 Section 20. Headings. The headings
of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 
 Section 21. Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions
of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
  

 10 

 Section 22. Notices. All notices, requests, demands and other communications hereunder shall
be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with
postage prepaid, on the third business day after the date on which it is so mailed: 
  

	 	(a)	If to Indemnitee, to: The address set forth on the signature page hereto. 

  

	 	(b)	If to the Company to: 

 Innkeepers USA Trust 
 340 Royal Poinciana Way 
 Suite 306

 Palm Beach, FL 33480 
 Attn:
General Counsel 
 or to such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

 Section 23. Governing Law. The parties agree that this Agreement shall be governed by, and construed and enforced in
accordance with, the laws of the State of Maryland, without regard to its conflicts of laws rules. 
 Section 24. Miscellaneous.
Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. 
 IN WITNESS WHEREOF, the parties
hereto have executed this Agreement on the day and year first above written. 
  

					
	ATTEST:	    	INNKEEPERS USA TRUST
			
	 /s/ Mark A. Murphy
	    	By:	 	 /s/ Jeffrey H. Fisher

		    	Name:	 	Jeffrey H. Fisher
		    	Title:	 	Chairman, CEO and President
		
	WITNESS:	    	INDEMNITEE
			
	 /s/ Mark A. Murphy
	    	By:	 	 /s/ Dennis M. Craven

		    	Name:	 	Dennis M. Craven
		    	Address:	 	

  

 11 

 EXHIBIT A 
 FORM OF UNDERTAKING TO REPAY EXPENSES ADVANCED 
 The Board of Trustees of Innkeepers
USA Trust 
 Re: Undertaking to Repay Expenses Advanced 
 Ladies and Gentlemen: 
 This
undertaking is being provided pursuant to that certain Indemnification Agreement dated the      day of
                    , 200  , by and between Innkeepers USA Trust (the “Company”) and the undersigned Indemnitee
(the “Indemnification Agreement”), pursuant to which I am entitled to advance of expenses in connection with [Description of Proceeding] (the “Proceeding”). 
 Terms used herein and not otherwise defined shall have the meanings specified in the Indemnification Agreement. 
 I am subject to the Proceeding by reason of my Corporate Status or by reason of alleged actions or omissions by me in such capacity. I hereby affirm that
at all times, insofar as I was involved as [a trustee] [an officer] of the Company, in any of the facts or events giving rise to the Proceeding, I (1) acted in good faith and honestly, (2) did not receive any improper personal
benefit in money, property or services and (3) in the case of any criminal proceeding, had no reasonable cause to believe that any act or omission by me was unlawful. 
 In consideration of the advance of Expenses by the Company for reasonable attorneys’ fees and related expenses incurred by me in connection with the
Proceeding (the “Advanced Expenses”), I hereby agree that if, in connection with the Proceeding, it is established that (1) an act or omission by me was material to the matter giving rise to the Proceeding and (a) was committed
in bad faith or (b) was the result of active and deliberate dishonesty or (2) I actually received an improper personal benefit in money, property or services or (3) in the case of any criminal proceeding, I had reasonable cause to
believe that the act or omission was unlawful, then I shall promptly reimburse the portion of the Advanced Expenses relating to the claims, issues or matters in the Proceeding as to which the foregoing findings have been established and which have
not been successfully resolved as described in Section 7 of the Indemnification Agreement. To the extent that Advanced Expenses do not relate to a specific claim, issue or matter in the Proceeding, I agree that such Expenses shall be allocated
on a reasonable and proportionate basis. 
 IN WITNESS WHEREOF, I have executed this Affirmation and Undertaking on this
     day of                     , 20    . 
  

							
	WITNESS:	 		 		 	
				
	  
	 		 	  
	 	(SEAL)

  

 12

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