Document:

EX-10.28

 Exhibit 10.28 
 INDEMNIFICATION AGREEMENT 
 This Indemnification Agreement
(“Agreement”) is made as of [—] by and between ESH Hospitality, Inc., a Delaware corporation (the “Corporation”) and
[—] (“Indemnitee”). 
 RECITALS 

WHEREAS, the Corporation desires to attract and retain the services of highly qualified individuals, such as Indemnitee, to serve the
Corporation; 
 WHEREAS, in order to induce Indemnitee to continue to provide services to the Corporation, the Corporation
wishes to provide for the indemnification of, and advancement of expenses to, Indemnitee to the maximum extent permitted by applicable law, subject only to the limitations set forth herein; 

WHEREAS, the Corporation’s Bylaws (the “Bylaws”) require indemnification of the directors and officers of the
Corporation, and employees of the Corporation that are licensed to practice law (“Counsel”) and allow indemnification of the employees and agents of the Corporation and Indemnitee may also be entitled to indemnification pursuant to
the General Corporation Law of the State of Delaware (the “DGCL”); 
 WHEREAS, the Bylaws and the DGCL
expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Corporation and directors, officers and other persons with respect to indemnification;

 WHEREAS, the Corporation and Indemnitee recognize the continued difficulty in obtaining liability insurance for the
Corporation’s directors, officers, employees and agents, the significant and continual increases in the cost of such insurance and the general trend of insurance companies to reduce the scope of coverage of such insurance; 

WHEREAS, the Corporation and Indemnitee further recognize the substantial increase in corporate litigation in general, subjecting
directors, officers, Counsel, employees and agents and employed lawyers insurance covering certain liabilities which may be incurred by its Counsel in the performance of their professional legal services for the Corporation (“E&O
Insurance”), to expensive litigation risks at the same time as the availability and scope of coverage of liability insurance is being reduced, provides increasing challenges for the Corporation; 

WHEREAS, Indemnitee does not regard the protection currently provided by applicable law, the Corporation’s governing documents and
available insurance, including E&O Insurance, as adequate under the present circumstances, and the Indemnitee and certain other directors, officers, employees and agents of the Corporation may not be willing to continue to serve in such
capacities without additional protection; 
 WHEREAS, the Board of Directors of the Corporation (the “Board”)
has determined that the increased difficulty in attracting and retaining highly qualified persons such as Indemnitee is detrimental to the best interests of the Corporation’s stockholders and that the Corporation should act to assure such
persons that there will be increased certainty of such protection in the future; 

  
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 WHEREAS, it is reasonable, prudent and necessary for the Corporation contractually to
obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Corporation free from undue concern that they will not be so
indemnified; and 
 WHEREAS, this Agreement is a supplement to and in furtherance of the indemnification provided in the Bylaws
and any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; 
 NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Corporation and Indemnitee do hereby covenant and agree as follows: 

Section 1. Services to the Corporation. Indemnitee agrees to serve as a director of the Corporation. Indemnitee may at any
time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law), in which event the Corporation shall have no obligation under this Agreement to continue Indemnitee in
such position. This Agreement shall not be deemed an employment contract between the Corporation (or any of its subsidiaries or any Enterprise) and Indemnitee. The foregoing notwithstanding and subject to Section 16 of this Agreement, this
Agreement shall continue in force after Indemnitee has ceased to serve in his corporate status and will continue to provide coverage, to the extent provided for in this Agreement, for matters that occurred while Indemnitee served in his corporate
status. 
 Section 2. Definitions 
 As used in this Agreement: 
 (a) “Corporate Status” shall mean
the status of a person who is or was a director, officer, Counsel, employee or agent of the Corporation or a director, officer, Counsel, employee, agent or trustee of any Enterprise. 

(b) “Enterprise” shall mean any corporation (other than the Corporation), partnership, joint venture, trust, or other
enterprise, including service with respect to an employee benefit plan, of which Indemnitee is or was serving at the request of the Corporation as a director, officer, Counsel, employee, agent or trustee. Any person serving as a director, officer or
trustee of a corporation, partnership, joint venture, trust or other enterprise, at least 50% of whose equity interests are owned directly or indirectly by the Corporation, shall be conclusively presumed to be serving in that capacity at the request
of the Corporation. 
 (c) “Expenses” shall mean all reasonable 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, being or preparing to be a witness in, or 

  
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otherwise participating in, a Proceeding or an appeal resulting from a Proceeding, including, without limitation, the premium, security for and other costs relating to any cost bond, supersedes
bond or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee. The parties agree that, to the fullest extent permitted by law, for
the purposes of any advancement of Expenses for which Indemnitee has made written demand to the Corporation in accordance with this Agreement, all Expenses included in such demand that are certified by affidavit of Indemnitee’s counsel as being
prudent and appropriate in the good faith judgment of such counsel shall be presumed conclusively to be reasonable Expenses. To the fullest extent permitted by law, the Corporation agrees that, in any proceeding for an advancement of Expenses, it
will not assert or make any claim that any Expenses (including without limitation attorneys’ fees and expert witness or consultant fees) incurred by or on behalf of Indemnitee are not reasonable if counsel for Indemnitee certifies by affidavit
his or her belief that such Expenses were prudent and appropriate in the good faith judgment of such counsel; provided that, following the final disposition of the Proceeding for which Expenses are advanced, the Corporation may seek to recover any
Expenses that it establishes are not reasonable in an action brought to enforce the undertaking granted by Indemnitee pursuant to this Agreement. 
 (d) “Independent Counsel” shall mean a law firm, or a partner (or, if applicable, member) of such a law firm, that is experienced in matters of corporation law and neither presently is,
nor in the past two years has been, retained to represent: (i) the Corporation or Indemnitee in any matter material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees
under similar indemnification agreements), or (ii) any other party to 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 Corporation or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 

(e) “Proceeding” shall mean any threatened, pending or completed action, suit, arbitration, alternate dispute resolution
mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Corporation or otherwise and whether civil, criminal, administrative or investigative, including
any and all appeals therefrom, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness or otherwise by reason of the fact that Indemnitee is or was a director, officer, Counsel, employee or agent of the
Corporation or director, officer, Counsel, employee, agent or trustee of any Enterprise, by reason of any action taken by him or of any action on his part while acting as a director, officer, Counsel, employee or agent of the Corporation or
director, officer, Counsel, employee, agent or trustee of any Enterprise, in each case whether or not serving in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of expenses can
be provided under this Agreement. If the Indemnitee believes in good faith that a given situation may lead to or culminate in the institution of a Proceeding, such situation shall be considered a Proceeding under this paragraph. Notwithstanding the
foregoing, a Proceeding shall not include any claim with respect to which indemnification is excluded pursuant to Section 9(c). 

  
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 Section 3. Indemnity in Third-Party Proceedings. The Corporation shall indemnify
Indemnitee in accordance with the provisions of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Corporation to procure a judgment in
its favor (which is covered by Section 4 of this Agreement). Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent permitted by applicable law, against all Expenses, judgments, fines and amounts paid in
settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on
Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Corporation and, in the
case of a criminal proceeding, had no reasonable cause to believe that his conduct was unlawful. The Corporation shall not be liable to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any action or claim effected
without the Corporation’s consent, which consent shall not be unreasonably withheld or delayed. The parties hereto intend that this Agreement shall provide to the fullest extent permitted by law for indemnification in excess of that required by
statute or contemplated by the Certificate of Incorporation, the By-laws, or the vote of the Corporation’s stockholders or its disinterested directors. 
 Section 4. Indemnity in Proceedings by or in the Right of the Corporation. The Corporation shall indemnify Indemnitee in accordance with the provisions of this Section 4 if Indemnitee is,
or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Corporation to procure a judgment in its favor. Pursuant to this Section 4, Indemnitee shall be indemnified to the fullest extent permitted by
applicable law against all Expenses (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Corporation. No indemnification for Expenses shall be made
under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Corporation, unless and only to the extent that the Delaware Court of Chancery (the
“Delaware Court”) or any court in which the Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably
entitled to indemnification for such expenses as the Delaware Court or such other court shall deem proper. 
 Section 5.
Indemnification for Expenses of a Party Who is Wholly or Partly Successful. To the extent that Indemnitee is a party to and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in
whole or in part, the Corporation shall indemnify Indemnitee against all Expenses (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses) actually and reasonably incurred by
Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein. 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 Corporation shall, to the fullest extent permitted by applicable law, indemnify Indemnitee against all Expenses (including all interest, assessments

  
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and other charges paid or payable in connection with or in respect of such Expenses) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with each
successfully resolved claim, issue or matter. 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. Nothing in this Section 5 is intended to limit Indemnitee’s rights provided for in Sections 3 and 4. 
 Section 6. Indemnification For Expenses of a Witness. To the extent that Indemnitee is, by reason of his Corporate Status, a witness or otherwise asked to participate in any Proceeding to
which Indemnitee is not a party, he shall be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. Nothing in this Section 6 is intended to limit Indemnitee’s rights provided for
in Sections 3 and 4. 
 Section 7. Partial Indemnification. If Indemnitee is entitled under any provision of this
Agreement to indemnification by the Corporation for some or a portion of Expenses, but not, however, for the total amount thereof, the Corporation shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

 Section 8. Additional Indemnification. 
 (a) Notwithstanding any provisions of Sections 3, 4, or 5, the Corporation shall indemnify Indemnitee to the fullest extent permitted by applicable law if Indemnitee is a party to or is threatened to be
made a party to any Proceeding (including a Proceeding by or in the right of the Corporation to procure a judgment in its favor) against all Expenses, judgments, fines, penalties and amounts paid in settlement (including all interest, assessments
and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection with such Proceeding. 

(b) For purposes of Section 8(a), the meaning of the phrase “to the fullest extent permitted by applicable law” shall
include, but not be limited to: 
 (i) to the fullest extent permitted by the provision of the DGCL that authorizes or
contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the DGCL or such provision thereof; and 
 (ii) to the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of this Agreement that increase the extent to which a corporation may indemnify
its directors. 
 Section 9. Exclusions. Notwithstanding any provision in this Agreement to the contrary, but
subject to Section 26 in the case of Section 9(a), the Corporation shall not be obligated under this Agreement to make any indemnity: 
 (a) for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect to any excess beyond the amount paid under any
insurance policy or other indemnity provision; 

  
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 (b) for any disgorgement of profits made from the purchase and sale (or sale and purchase)
by Indemnitee of securities of the Corporation under Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or common law; 

(c) for claims initiated or brought by Indemnitee (including Expenses incurred by Indemnitee in defending any affirmative defenses or
counterclaims brought or made in connection with a claim initiated by Indemnitee), except (i) with respect to actions or proceedings brought to establish or enforce a right to receive Expenses or indemnification under this Agreement or any
other agreement or insurance policy or under the Certificate of Incorporation or the Bylaws now or hereafter in effect relating to indemnification, (ii) if the Board approves, at any time, the initiation or bringing of such claim, (iii) as
otherwise required under Delaware law; provided however that, for the avoidance of doubt, Indemnitee shall not be deemed, for purposes of this Section, to have initiated or brought any claim by reason of (1) having asserted any affirmative
defenses in connection with a claim not initiated by the Indemnitee or (2) having made any counterclaim (whether permissive or mandatory) in connection with any claim not initiated by Indemnitee); or 

(d) for which payment is prohibited by applicable law. 
 Section 10. Advances of Expenses. Notwithstanding any provision of this Agreement to the contrary, the Corporation shall advance, to the extent not prohibited by applicable law, all Expenses
incurred by or on behalf of Indemnitee in connection with any Proceeding, and such advancement shall be made within twenty (20) days after the receipt by the Corporation of a statement or statements requesting such advances (which shall include
invoices received by Indemnitee in connection with such Expenses but, in the case of invoices in connection with legal services, any references to legal work performed or to expenditures made that would cause Indemnitee to waive any privilege
accorded by applicable law shall not be included with the invoice) from time to time, whether prior to or after final disposition of any Proceeding. Advances shall be unsecured and interest free. Advances shall be made without regard to
Indemnitee’s ability to repay expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing an
action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Corporation to support the advances claimed. The Indemnitee shall qualify for advances upon the execution and delivery to the
Corporation of this Agreement, which shall constitute an undertaking providing that the Indemnitee undertakes to the fullest extent required by applicable law to repay the amounts advanced (without interest) if and to the extent that it is
ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Corporation. No other form of undertaking shall be required other than the execution of
this Agreement. This Section 10 shall not apply to, and no advances shall be made with respect to, any claim made by Indemnitee for which indemnity is excluded pursuant to Section 9(a) or 9(c). The right to advances under this paragraph
shall in all events continue until final disposition of any Proceeding. 

  
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 Section 11. Procedure for Notification and Defense of Claim. 

(a) To obtain indemnification or advancement of Expenses under this Agreement, Indemnitee shall submit to the Corporation a written
request therefor. The omission by Indemnitee to notify the Corporation hereunder will not relieve the Corporation from any liability which it may have to Indemnitee hereunder, under the Bylaws, any resolution of the Board providing for
indemnification, applicable law, or otherwise, and any delay in so notifying the Corporation shall not constitute a waiver by Indemnitee of any rights. The Secretary of the Corporation shall, promptly upon receipt of such a request for
indemnification, advise the Board in writing that Indemnitee has requested indemnification. 
 (b) The Corporation will be
entitled to participate in any Proceeding at its own expense. 
 Section 12. Procedure Upon Application for
Indemnification. 
 (a) Upon written request by Indemnitee for indemnification pursuant to Section 11(a), a
determination with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following four methods, which shall be at the election of the Board: (1) by a majority vote of the disinterested directors,
even though less than a quorum, (2) by a committee of disinterested directors designated by a majority vote of the disinterested directors, even though less than a quorum, (3) by Independent Counsel in a written opinion to the Board, a
copy of which shall be delivered to the Indemnitee, or (4) by the stockholders of the Corporation holding a majority of the outstanding voting stock of the Corporation. For purposes hereof, disinterested directors are those members of the Board
who are not parties to the Proceeding in respect of which indemnification is sought by Indemnitee. If it is determined pursuant to this Section 12(a) that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten
(10) days after such determination. Indemnitee shall cooperate with the directors, Independent Counsel or stockholders as applicable, making such determination with respect to Indemnitee’s entitlement to indemnification, including
providing upon reasonable advance request any reasonable documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any
costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the directors, the Independent Counsel or stockholders shall be deemed “Expenses” hereunder and shall be borne by the
Corporation (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Corporation hereby indemnifies and agrees to hold Indemnitee harmless therefrom. 

(b) If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a) hereof,
the Independent Counsel shall be selected as provided in this Section 12(b). The Independent Counsel shall be selected by Indemnitee, and Indemnitee shall give written notice to the Corporation advising it of the identity of the Independent
Counsel so selected. The Corporation may, within ten (10) days after such written notice of Indemnitee’s selection shall have been given, deliver to the Indemnitee a written objection to such selection; provided, however,
that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth with
particularity the factual basis of such assertion. Absent a proper and timely objection, the person 

  
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or firm so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and
until such objection is withdrawn or a court has determined that such objection is without merit. If, within twenty (20) days after the later of submission by Indemnitee of a written request for indemnification pursuant to Section 11(a)
hereof and the final disposition of the Proceeding, no Independent Counsel shall have been selected and not objected to, either the Corporation or the Indemnitee may petition a court of competent jurisdiction for resolution of any objection which
shall have been made by the Corporation to the selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to
whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 12(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement,
Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). The Corporation agrees to pay the reasonable fees and expenses of the
Independent Counsel and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 

Section 13. 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 11(a) of this Agreement, and the Corporation shall have the
burden of proof to overcome that presumption in connection with the making by such person or persons or entity of any determination contrary to that presumption. Neither the failure of the Corporation (including by its directors, Independent Counsel
or stockholders) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual
determination by the Corporation (including by its directors, Independent Counsel or stockholders) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met
the applicable standard of conduct. 
 (b) The termination of any Proceeding or of any claim, issue or matter therein, by
judgment, order, settlement or conviction, or upon a plea of guilty, nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to
indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Corporation or, with respect to any criminal Proceeding, that
Indemnitee had reasonable cause to believe that his conduct was unlawful. 
 (c) The knowledge and/or actions, or failure to
act, of any director, consultant, officer, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 

  
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 Section 14. Remedies of Indemnitee. 

(a) Subject to Section 14(e), in the event that (i) a determination is made pursuant to Section 12 of this Agreement that
Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not made within 20 days pursuant to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have
been made pursuant to Section 12(a) of this Agreement within sixty (60) days after the later of receipt by the Corporation of the request for indemnification and the final disposition of the Proceeding with respect to which indemnification
is claimed, (iv) payment of indemnification is not made pursuant to Section 5, 6 or 7 or the last sentence of Section 12(a) of this Agreement within ten (10) days after receipt by the Corporation of a written request therefor,
(v) payment of indemnification pursuant to Section 3, 4 or 8 of this Agreement is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification, or (vi) in the event that the
Corporation or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from, the Indemnitee the benefits
provided or intended to be provided to the Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by the Delaware Court of his or her entitlement to such indemnification and/or advancement 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 14(a); provided, however, that the foregoing time limitation shall not apply in respect
of a proceeding brought by Indemnitee to enforce his rights under Section 5 of this Agreement. The Corporation shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration. 

(b) In the event that a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is not
entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of
that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 14, the Corporation shall have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case
may be. 
 (c) If a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is
entitled to indemnification, the Corporation shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14, absent (i) 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, or (ii) a prohibition of such indemnification under applicable law. 

(d) The Corporation shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this
Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Corporation is bound by all the provisions of this Agreement.
It is the intent of the Corporation that, to the fullest extent permitted by applicable 

  
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law, the Indemnitee not be required to incur legal fees or other Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by litigation
or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Indemnitee hereunder. To the fullest extent permitted by applicable law, the Corporation shall indemnify Indemnitee
against any and all Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Corporation of a written request therefor) advance such Expenses to Indemnitee, which are incurred by Indemnitee in connection with
any action brought by Indemnitee for indemnification or advance of Expenses from the Corporation under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Corporation, regardless of whether
Indemnitee ultimately is determined to be entitled to such indemnification, advancement of Expenses or insurance recovery, as the case may be, in the suit for which indemnification or advances is being sought. 

(e) Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement of Indemnitee to indemnification under
this Agreement shall be required to be made prior to the final disposition of the Proceeding. 
 Section 15.
Non-exclusivity; Survival of Rights; Insurance; Subrogation. 
 (a) The rights of indemnification and to receive
advancement 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 Certificate of Incorporation, the Bylaws, any agreement, a vote of
stockholders or a resolution of directors, 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. To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be
afforded currently under the Certificate of Incorporation, Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein
conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.
The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 
 (b) To the extent that the Corporation maintains an insurance policy or policies providing liability insurance for directors, consultants, officers, employees, or agents of the Corporation or of any other
Enterprise, Indemnitee shall be named as an insured in a manner that provides that Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director,
consultant, officer, employee or agent under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Corporation has director and officer liability insurance in effect, the Corporation shall
give prompt notice of such claim or of the commencement of a proceeding, as the case may be, to the insurers in accordance with the procedures set forth in the respective policies. The Corporation shall thereafter take all necessary or desirable
action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies. 

  
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 (c) Subject to Section 26, in the event of any payment under this Agreement, the
Corporation 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 Corporation to bring suit to enforce such rights. 
 (d) Subject to Section 26, the Corporation
shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder (or for which advancement is provided hereunder) if and to the extent that Indemnitee has otherwise actually received such payment under any
insurance policy, contract, agreement or otherwise. 
 (e) Subject to Section 26, the Corporation’s obligation to
indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Corporation as a director, officer, employee, agent or trustee of any Enterprise be reduced by any amount Indemnitee has actually received as
indemnification or advancement of Expenses from such Enterprise. 
 Section 16. Duration of Agreement. This
Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have ceased to serve as a director of the Corporation or (b) one (1) year after the final termination of any
Proceeding then pending on such ten (10) year anniversary in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding commenced by Indemnitee pursuant to Section 14 of this
Agreement relating thereto. This Agreement shall be binding upon the Corporation and its successors and assigns and shall inure to the benefit of Indemnitee and his heirs, executors and administrators. The Corporation 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 Corporation, by written agreement in form and substance satisfactory to the
Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporation 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 shall remain enforceable to the fullest extent permitted by applicable law; (b) such
provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) 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. 

  
 11 

 Section 18. Enforcement. 

(a) The Corporation expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to serve as a director of the Corporation, and the Corporation acknowledges that Indemnitee is relying upon this Agreement in serving as a director of the Corporation. 

(b) This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Bylaws, any
resolution of the Board providing for indemnification and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

Section 19. Modification and Waiver. No supplement, modification or amendment, or waiver of any provision, of this Agreement
shall be binding unless executed in writing by 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 of this Agreement nor shall any waiver constitute a
continuing waiver. 
 Section 20. Notice by Indemnitee. Indemnitee agrees promptly to notify the Corporation in
writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which Indemnitee reasonably believes to be subject to indemnification or advancement of
Expenses covered hereunder. The failure of Indemnitee to so notify the Corporation shall not relieve the Corporation of any obligation which it may have to the Indemnitee under this Agreement or otherwise. 

Section 21. Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and
shall be deemed to have been duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the
third business day after the date on which it is so mailed, (c) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been directed or (d) sent by facsimile transmission,
with receipt of oral confirmation that such transmission has been received: 
 (a) If to Indemnitee, at the address indicated on
the signature page of this Agreement, or such other address as Indemnitee shall provide to the Corporation. 

  
 12 

 (b) If to the Corporation to: 

 ESH Hospitality, Inc. 
  11525 N. Community House Road 
  Suite 100 

 Charlotte, North Carolina 28277 
  Attn: Chief Legal Officer 
  Facsimile: (908) 345-1600 

or to any other address as may have been furnished to Indemnitee by the Corporation. 

Section 22. Contribution. To the fullest extent permitted by applicable law, if the indemnification provided for in this
Agreement is unavailable to Indemnitee for any reason whatsoever, the Corporation, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to
be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to
reflect (i) the relative benefits received by the Corporation and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Corporation (and its directors, officers,
employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 
 Section 23. Applicable
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules.
Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, the Corporation and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in
connection with this Agreement shall be brought only in the Delaware Court, and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of
the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware, The Corporation
Trust Corporation, Wilmington, Delaware as its agent in the State of Delaware as such party’s agent for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity as if
served upon such party personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any
such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. 

Section 24. 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. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this
Agreement. 

  
 13 

 Section 25. Miscellaneous. The headings 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 26. Primacy of Indemnification. The Corporation hereby acknowledges that Indemnitee has, or may from time to time
have, certain rights to indemnification, advancement of Expenses and/or insurance that are either (1) provided by a fund or other entity with which Indemnitee is associated or its affiliates (“Fund Indemnitors”) or
(2) pursuant to insurance obtained on Indemnitee’s own behalf (“Individual Insurance,” and together with the obligations of Fund Indemnitors, the “Other Arrangements”). The Corporation hereby
agrees (i) that the Corporation will not assert in any litigation between the Corporation and Indemnitee that the Corporation’s obligations under this Agreement are not primary relative to the Other Arrangements, or that any obligation of
the providers of the Other Arrangements to advance Expenses or to provide indemnification for the same Expenses, judgments, penalties, fines, other monetary remedies and amounts paid in settlement, incurred by Indemnitee or on Indemnitee’s
behalf are not secondary, (ii) that the Corporation shall be required to advance the full amount of Expenses (subject to the provisions concerning advancement of Expenses set forth in this Agreement) incurred by Indemnitee and shall be liable
for the full amount of all Expenses, judgments, penalties, fines, other monetary remedies and amounts paid in settlement, relative to the Other Arrangements, or as may be required by the terms of this Agreement, the Certificate of Incorporation or
Bylaws of the Corporation (or any other agreement between the Corporation and Indemnitee), without regard to any rights Indemnitee may have under the Other Arrangements, and (iii) that with respect to the Corporation’s obligations to
advance Expenses and indemnify Indemnitee by reason of Indemnitee’s service as an officer or director of the Corporation, the Corporation irrevocably waives, relinquishes and releases the providers of the Other Arrangements from any and all
claims for contribution, subrogation or any other recovery of any kind in respect thereof. The Corporation further agrees that no advancement or payment by the providers of the Other Arrangements on behalf of Indemnitee with respect to any claim for
which Indemnitee has sought indemnification from the Corporation shall affect the foregoing and to the extent consistent with the terms of the Other Arrangements the providers of the Other Arrangements shall have a right of contribution and/or be
subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Corporation. Nothing in this Agreement shall be deemed to prevent the Corporation from taking any action necessary to require its own
insurer(s) to provide coverage to the Corporation or its officers or directors (including Indemnitee), including causing any person (including a provider of Other Arrangements) to be named as a party to a declaratory judgment action brought to
obtain such relief. The Corporation and the Indemnitee agree that providers of Other Arrangements are express third party beneficiaries of the terms of this Section. 
 [signature page follows] 

  
 14 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and
year first above written. 
  

			
	CORPORATION:
	
	ESH HOSPITALITY, INC.
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 
			
	
	INDEMNITEE:
	
	  

	 Name:
	 	
	 Address:
	 	

  
 15EX-10.31

 Exhibit 10.31 
 RESTRICTED PAIRED SHARE AGREEMENT 
 THIS RESTRICTED PAIRED SHARE
AGREEMENT (this “Agreement”) is entered into by and among ESH Hospitality Holdings, LLC, a Delaware limited liability company (“Holdings”), Extended Stay America, Inc., a Delaware corporation (the
“Company”) and ESH Hospitality, Inc., a Delaware Corporation (“ESH REIT”) as of             , 2013. 

WHEREAS, certain employees of HVM L.L.C. received grants of Profit Units pursuant to the HVM Management Incentive Plan, as
amended, modified, supplemented or restated from time to time (the “HVM Incentive Plan”); 
 WHEREAS,
certain non-voting directors of the board of managers of Holdings (the “Board”) received grants of Profit Units pursuant to the ESH Manager Incentive Plan, as amended, modified, supplemented or restated from time to time (the
“ESH Manager Plan”); 
 WHEREAS, each Profit Unit holder also received grants of Strategies Profit Units
pursuant to the ESH Strategies Incentive Plan, and on             , 2013, the intellectual property assets held by ESH Hospitality Strategies Holdings LLC were transferred to the Company
and ESH Hospitality Strategies Holdings LLC is being liquidated; 
 WHEREAS, the Board has determined that conducting the
business of ESH REIT in a corporate rather than a limited liability company form is necessary to allow an offering of equity interests in ESH REIT; 
 WHEREAS, the Board has determined, in accordance with its authority and rights pursuant to Section 13.01(b) of the Fourth Amended and Restated Limited Liability Agreement of Holdings, dated as
of July 27, 2012, as amended, modified, supplemented or restated from time to time (the “Holdings LLC Agreement”), to dissolve Holdings and to distribute to the Profit Unit holders certain Shares subject to the terms and
conditions set forth herein; and 
 WHEREAS, the Company and ESH REIT wish to enter into this Agreement with Holdings to
set forth the terms and conditions of such Shares; 
 NOW THEREFORE, the parties hereto agree as follows: 

1. Definitions. The capitalized terms herein not otherwise defined shall have the meaning ascribed to them in the Holdings LLC Agreement.
For purposes of this Agreement: 
 1.1. “Accelerated Shares” shall have the meaning set forth in
Section 2.2(c). 
 1.2. “Blackstone” means Blackstone Real Estate Partners VI L.P. and its affiliates.

  
 1 

 1.3.”Cause” shall mean means the occurrence or existence of any of the
following (a) with respect to a Distributee who is an employee of the Company or any of its subsidiaries, as determined in good faith by the Company: (i) in the case of a Distributee whose employment with the Company is subject to the
terms of an employment agreement which includes a definition of “Cause,” the meaning set forth in such employment agreement during the period that such employment agreement remains in effect, and (ii) in all other cases (A) a
material breach of such Distributee’s obligations under any employment or other agreement with the Company; (B) any act of fraud, misappropriation, dishonesty, embezzlement or similar conduct against the Company or any of its Affiliates;
or (C) conviction of a felony or any crime involving moral turpitude, and (b) with respect to a Distributee who is a director of the Company or ESH REIT, the removal of such Distributee as a director from the board of directors of the
Company or ESH REIT, as applicable, for cause. 
 1.4. “Centerbridge” means Centerbridge Partners, LP and its
affiliates. 
 1.5. “Change in Control” shall mean the occurrence of any of the following: 

(a) An acquisition (other than directly from the Company) of any voting securities of Extended Stay America (the “Voting
Securities”) by any Person, immediately after which such Person has “Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of fifty percent (50%) or more of the combined
voting power of the Company’s then-outstanding Voting Securities; provided, however, that in determining whether a Change in Control has occurred pursuant to this Section 1.4(a), the acquisition of Voting Securities in a Non-Control
Acquisition (as hereinafter defined) shall not constitute a Change in Control. A “Non-Control Acquisition” shall mean an acquisition by (i) an employee benefit plan (or a trust forming a part thereof) maintained by
(A) the Company or (B) any corporation or other Person the majority of the voting power, voting equity securities or equity interest of which is owned, directly or indirectly, by the Company (for purposes of this definition, a
“Related Entity”), (ii) the Company or any Related Entity, (iii) any of the Principal Stockholders, or (iv) any Person in connection with a Non-Control Transaction (as hereinafter defined); 

(b) The individuals who, as of the effective date of this Agreement are members of the Board (the “Incumbent Board”),
cease for any reason to constitute at least a majority of the members of the Board; provided, however, that if the election, or nomination for election by the Company’s common stockholders, of any new director was approved by a vote of at least
two-thirds of the Incumbent Board, such new director shall, for purposes of this Agreement, be considered as a member of the Incumbent Board; provided further, however, that no individual shall be considered a member of the Incumbent Board if such
individual initially assumed office as a result of either an actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board (a “Proxy Contest”) including by reason of any agreement intended
to avoid or settle any Proxy Contest; 
 (c) The consummation of: 

 

	 	(1)	A merger, consolidation or reorganization (x) with or into the Company or (y) in which securities of the Company are issued (a “Merger”),
unless such Merger is a Non-Control Transaction. A “Non-Control Transaction” shall mean a Merger in which: 

  
 2 

	 	i.	the stockholders of the Company immediately before such Merger own directly or indirectly immediately following such Merger at least a majority of the combined voting
power of the outstanding voting securities of (1) the corporation resulting from such Merger (the “Surviving Corporation”), if fifty percent (50%) or more of the combined voting power of the then outstanding voting
securities of the Surviving Corporation is not Beneficially Owned, directly or indirectly, by another Person (a “Parent Corporation”), or (2) if there is one or more than one Parent Corporation, the ultimate Parent Corporation;

  

	 	ii.	the individuals who were members of the Board immediately prior to the execution of the agreement providing for such Merger constitute at least a majority of the
members of the board of directors of (1) the Surviving Corporation, if there is no Parent Corporation, or (2) if there is one or more than one Parent Corporation, the ultimate Parent Corporation; and 

 

	 	iii.	no Person other than (1) the Company or another corporation that is a party to the agreement of Merger, (2) any Related Entity, (3) any employee benefit
plan (or any trust forming a part thereof) that, immediately prior to the Merger, was maintained by the Company or any Related Entity, (4) any Principal Stockholder or (5) any Person who, immediately prior to the Merger, had Beneficial
Ownership of Voting Securities representing more than fifty percent (50%) of the combined voting power of the Company’s then-outstanding Voting Securities, has Beneficial Ownership, directly or indirectly, of fifty percent (50%) or
more of the combined voting power of the outstanding voting securities of (x) the Surviving Corporation, if there is no Parent Corporation, or (y) if there is one or more than one Parent Corporation, the ultimate Parent Corporation;

  

	 	(2)	A complete liquidation or dissolution of the Company; or 

  

	 	(3)	The sale or other disposition of all or substantially all of the assets of the Company and its subsidiaries taken as a whole to any Person (other than (x) a
transfer to a Related Entity or (y) the distribution to the Company’s stockholders of the stock of a Related Entity or any other assets). 

 Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any Person (the “Subject Person”) acquired Beneficial Ownership of more than the permitted
amount of the then outstanding Voting Securities as a result of the acquisition of Voting Securities by the Company which, by reducing the number of Voting Securities then outstanding, increases the proportional number of shares Beneficially Owned
by the Subject Person; provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition of Voting Securities by the Company and, after such acquisition by the Company,

  
 3 

 
the Subject Person becomes the Beneficial Owner of any additional Voting Securities and such Beneficial Ownership increases the percentage of the then outstanding Voting Securities Beneficially
Owned by the Subject Person, then a Change in Control shall occur. 
 1.6. “Code” shall mean the Internal
Revenue Code of 1986, as amended. 
 1.7. “Committee” shall refer to both the compensation committee of the
board of directors of the Company and the compensation committee of the board of directors of ESH REIT which shall act in concert with respect to administration of this Agreement. 

1.8. “Company Charter” shall mean the articles of incorporation of the Company. 

1.9. “Corporate Transaction” shall mean a merger, consolidation, reorganization, recapitalization or other similar change
in the capital stock of the Company or ESH REIT that is not a Change in Control. 
 1.10. “Distributee” shall
mean a former Profit Unit holder who receives Distributed Shares pursuant to this Agreement. 
 1.11. “Distributed
Shares” shall have the meaning set forth in Section 2.1. 
 1.12. “Distribution” shall mean the
final liquidating distribution of Holdings. 
 1.13. “ESH REIT Charter” shall mean the articles of incorporation
of the ESH REIT. 
 1.14. “Grant” shall mean a Distributee’s respective grant of Class B Units and/or Class
C Units that was made under the HVM Incentive Plan or ESH Manager Plan, as applicable the terms of which were set forth in an award agreement. 
 1.15. “IPO” shall mean the initial public offering of the Company and ESH REIT Company. 
 1.16. “Pairing Agreement” shall mean the pairing agreement by and between the Company and ESH REIT dated as of
                    , 2013, as may be amended from time to time. 
 1.17. “Paulson” means Paulson & Co. Inc. and its affiliates. 
 1.18. “Principal Stockholders” include each of Blackstone, Centerbridge and Paulson. 
 1.19. “Profit Units” shall mean those Class B Units and Class C Units as granted to participants under the HVM Incentive Plan and ESH Manager Plan. 

1.20. “Restricted Shares” shall have the meaning set forth in Section 2.2(b). 

1.21. “Securities Act” shall mean the Securities Act of 1933, as amended, and its accompanying rules and regulations.

  
 4 

 1.22. “Share” shall mean a share of Company common stock, par value $0.01,
per share, and a share of ESH REIT Class B common stock, par value $0.01, per share, that are stapled together and traded as a paired share pursuant to the terms of the Pairing Agreement, the Company Charter and the ESH REIT Charter. 

1.23. “Strategies Profit Units” shall mean Profit Units as defined in the Fourth Amended and Restated Limited Liability
Company Agreement of ESH Hospitality Strategies Holdings LLC, dated as of July 27, 2012, as amended, modified, supplemented or restated from time to time. 
 1.24. “Termination of Service” means a termination of the Distributee’s employment with the Company and its subsidiaries or service as a director of the Company and/or ESH REIT, for
any reason, including by reason of the Distributee’s death or disability, in each case as determined by the Company or ESH REIT, as applicable, and which represents a “separation from service” as defined in Treasury Regulation
§1.409A-1(h), or results from the Distributee’s death or disability as defined in Treasury Regulation §1.409A-3(i)(4). 
 1.25. “Vested Equivalent Amount” shall mean, for each Profit Unit holder who holds vested Profit Units as of immediately prior to the Distribution, with respect to each
outstanding Grant, an amount equal to the product of the following: (i) a fraction, the numerator of which is the number of vested Profit Units as of immediately prior to the Distribution, and the denominator of which is the total number of
Profit Units granted pursuant to such Grant, and (ii) the total number of Distributed Shares received by the Distributee in respect of his or her outstanding Profit Units pursuant to such Grant in accordance with Section 2.1. 

1.26. “Unrestricted Shares” shall have the meaning set forth in Section 2.2(a). 

1.27. “Unvested CIC Equivalent Amount” shall mean, for each Profit Unit holder who holds unvested Profit
Units as of immediately prior to the Distribution, with respect to each outstanding Grant, a number equal to the total number of Distributed Shares received by the Distributee in respect of his or her outstanding Profit Units pursuant to such Grant
in accordance with Section 2.1, divided by five (5). 
 1.28. “Unvested Equivalent Amount” shall mean, for
each Profit Unit holder who holds unvested Profit Units as of immediately prior to the Distribution, with respect to each outstanding Grant, an amount equal to the product of the following: (i) a fraction, the numerator of which
is the number of unvested Profit Units as of immediately prior to the Distribution (excluding the unvested Profit Units that are scheduled to vest only upon a Change of Control Transaction), and the denominator of which is the total
number of Profit Units granted pursuant to such Grant, and (ii) the total number of Distributed Shares received by the Distributee in respect of his or her outstanding Profit Units pursuant to such Grant in accordance with Section 2.1.

 2. Distributed Shares. 
 2.1. In connection with the Distribution, each Profit Unit holder as of immediately prior to the Distribution shall receive a number of Shares to be determined by the Board by applying the provisions of
Section 4.03(b) of the Holdings LLC Agreement based on the value of 

  
 5 

 
(a) the Company and ESH REIT and (b) ESH Hospitality Strategies Holdings LLC as determined based on the IPO price of the Shares, as adjusted for the effects of the tax distribution received
in connection with certain pre-IPO restructuring transactions, if any (the “Distributed Shares”). 
 2.2. A
Distributee’s Distributed Shares in respect of each Grant shall consist of the following: 
 (a) A number of Distributed
Shares equal to the Vested Equivalent Amount which shall generally not be subject to forfeiture (subject to Section 3.2) and be subject only to the transfer restrictions and ownership guidelines referred to in Section 2.3 (the
“Unrestricted Shares”). 
 (b) A number of Distributed Shares equal to the Unvested Equivalent Amount (the
“Restricted Shares”). The Restricted Shares shall be subject to the forfeiture provisions of Section 3 and to the transfer restrictions and ownership guidelines referred to in Section 2.3. The Restricted Shares shall
continue to vest on the same vesting anniversary date as set forth in the applicable award agreement that governed such Grant, provided that the Distributee remains in continuous service to the Company, its subsidiaries or ESH REIT through the
applicable vesting date, as follows: 
  

	 	(1)	If Distributee’s Grant was 0% vested as of immediately prior to the Distribution, 25% of the Restricted Shares shall vest on each of the four vesting anniversary
dates following the Distribution Date; 

  

	 	(2)	If Distributee’s Grant was 20% vested as of immediately prior to the Distribution, 33 1/3% of the Restricted Shares shall vest on each of the three vesting
anniversary dates following the Distribution Date; 

  

	 	(3)	If Distributee’s Grant was 40% vested as of immediately prior to the Distribution, 50% of the Restricted Shares shall vest on each of the two vesting anniversary
dates following the Distribution Date; or 

  

	 	(4)	If Distributee’s Grant was 60% vested as of immediately prior to the Distribution, 100% of the Restricted Shares shall vest on the vesting anniversary date
immediately following the Distribution Date. 

 (c) A number of Distributed Shares equal to the Unvested CIC
Equivalent Amount (the “Accelerated Shares”). The Accelerated Shares shall not be subject to forfeiture but the Distributee shall not be permitted to transfer such Accelerated Shares until the date on which all of the
Restricted Shares in respect of such Grant have vested in accordance with Section 2.2(b) or, if earlier, Section 2.2(d). The Accelerated Shares shall also be subject to the transfer restrictions and ownership guidelines referred to in
Section 2.3. 
 (d) Notwithstanding Section 2.2(b), all of a Distributee’s then outstanding Restricted Shares that
have not vested shall vest immediately upon a Change in Control. 

  
 6 

 2.3. Notwithstanding anything to the contrary in this Agreement or otherwise, all of the
Distributed Shares received by a Distributee shall be subject to the restrictions on transfer set forth in Exhibit A and the stock ownership guidelines of the Company and ESH REIT as set forth in Exhibit B and Exhibit C,
respectively. Unless otherwise determined by the Company and ESH REIT, the Distributed Shares may not be sold, transferred, assigned or otherwise disposed of, and may not be pledged or otherwise hypothecated while (a) such Distributed Shares
are subject to the restrictions on transfer set forth on Exhibit A and the stockownership guidelines of the Company and ESH REIT set forth on Exhibit B and Exhibit C, respectively, and (b)(i) with respect to the Restricted
Shares, while such Restricted Shares are subject to forfeiture to the Company and ESH REIT, as applicable and (ii) with respect to the Accelerated Shares, while such Accelerated Shares are subject to the restrictions on transfer set forth in
Section 2.2(c); provided, however, that the foregoing shall not prohibit the sale, transfer or other disposition of any such Distributed Shares pursuant to a definitive agreement executed by the Company in connection with a
Corporate Transaction. 
 2.4. The certificates, if any, evidencing the Distributed Shares will bear the following legends when
issued: 
 “THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES, OR “BLUE SKY,” LAWS OF ANY STATE OR OTHER DOMESTIC OR FOREIGN JURISDICTION. THESE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION AND RESALE AND MAY NOT BE SOLD OR
OFFERED FOR SALE EXCEPT PURSUANT TO A REGISTRATION STATEMENT IN EFFECT UNDER THE SECURITIES ACT AND OTHER APPLICABLE LAWS OR UNLESS THE DISTRIBUTEE DELIVERS TO THE COMPANY AND ESH REIT A WRITTEN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
COMPANY AND ESH REIT THAT SUCH REGISTRATION IS NOT REQUIRED AND THAT AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE FOR SUCH TRANSACTIONS UNDER THE SECURITIES ACT AND OTHER APPLICABLE LAWS.” 

In addition, Holdings acknowledges that each certificate for Distributed Shares shall bear any additional legend required by any other
applicable domestic or foreign securities or blue sky laws, or as set forth in the Company’s certificate of incorporation or ESH REIT’s certificate of incorporation. 
 Until such time as the transfer of Distributed Shares is permitted under the restrictions on transfer referenced in Section 2.3 and the legends described above have been removed, the Company and ESH
REIT will direct its transfer agent and registrar to maintain stop transfer instructions on record for the Distributed Shares, as applicable. 
 2.5. The Distributee acknowledges the Distributed Shares have not been registered under the Securities Act, or under the securities laws of any other jurisdiction. Rule 144 promulgated under the
Securities Act is not presently available with respect to the sale of the Distributed Shares. Neither the Company nor ESH REIT is under any obligation, and has no current plan or intention, to register or qualify the Distributed Shares for resale by
the 

  
 7 

 
Distributees. The Distributee may not exchange, transfer, assign, pledge or otherwise dispose of the Distributed Shares or any portion thereof without compliance with (a) the Securities Act,
applicable U.S. state securities laws, and any applicable securities laws of any other jurisdiction (or an exemption therefrom), and (b) the restrictive legends set forth thereon. 

2.6. Certificates or evidence of book-entry shares representing the Restricted Shares shall be issued and held in escrow by the Company
and ESH REIT, as applicable, and shall remain in the custody of the Company and ESH REIT, as applicable, until their delivery to the Distributee as set forth herein, subject to the Grantee’s delivery of any document which the Committee, the
Company or ESH REIT may, in its discretion, require as a condition to the delivery of Shares to the Distributee or his or her estate, including, but not limited to delivery of a stock power, duly endorsed in blank, relating to the Restricted Shares.

 3. Effect of Distributee’s Termination from Service. 

3.1. In the event of a Distributee’s Termination of Service for any reason, all the Distributee’s Restricted Shares that have
not vested as of immediately prior to the Termination of Service shall immediately terminate and be forfeited to each of the Company and ESH REIT, as applicable. 
 3.2. In the event of a Distributee’s Termination of Service by the Company or ESH REIT, as applicable, for Cause, (i) all Distributed Shares that remain subject to any restrictions on transfer
in accordance with Section 2.3; and (ii) all Accelerated Shares held by the Distributee as of immediately prior to the Termination of Service shall immediately terminate and be forfeited to each of the Company and ESH REIT, as applicable.

 4. Rights as a Stockholder. Upon the distribution of the Distributed Shares to the Distributee and the entry of the
Distributee’s name as a stockholder of record on the books of the Company and ESH REIT, subject to the terms and conditions set forth in this Agreement applicable to such Distributed Shares, the Distributee shall be entitled to all rights of a
holder of a Share with respect to each Distributed Share unless and until (i) with respect to any Restricted Share or Accelerated Share, such Restricted Share or Accelerated Share is forfeited pursuant to Section 3 of this Agreement or
(ii) with respect to any Distributed Shares, any such Distributed Share is sold or otherwise disposed of pursuant to Section 2. Such rights shall include, without limitation, the right to vote such Distributed Shares and the right to
receive all dividends or other distributions paid or made with respect thereto at the same time as other holders of Shares. 
 5.
Interpretation/Administration. The Committee shall have the ability to (a) construe and interpret this Agreement, (b) establish, amend and revoke rules and regulations for the administration of this Agreement,
(c) enforce the provisions under this Agreement, including determining the duration and purposes for leaves of absence which may be granted to a Distributee on an individual basis without constituting a Termination of Service for purposes of
this Agreement; (d) cancel, with the consent of the Distributee, outstanding Restricted Shares or as otherwise permitted under the term of this Agreement; (e) exercise its discretion with respect to the powers and rights granted to it as
set forth in this Agreement; and (g) generally, exercise such powers and perform such acts as are deemed necessary or advisable to promote the best interests of the Company and ESH REIT with respect to this Agreement. The Committee’s

  
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determinations under this Agreement need not be uniform and may be made by it selectively among Distributees who receive Restricted Shares (whether or not such persons are similarly situated).
All decisions and determinations by the Committee in the exercise of the above powers shall be final, binding and conclusive upon each Distributee, the Company and ESH REIT. The parties agree that the amount of Distributed Shares as well as the
amount of any Unrestricted Shares, Restricted Shares, or Accelerated Shares otherwise due to a Distributee in connection with this Agreement, may be rounded, as appropriate. 
 6. Effect of Certain Transactions. 
  

	 	6.1.	In connection with a Corporate Transaction, either: 

 (a) The Restricted Shares shall, unless otherwise provided in connection with the Corporate Transaction, continue following the Corporate Transaction and shall be adjusted if and as provided for in the
agreement or plan (in the case of a liquidation or dissolution) entered into or adopted in connection with the Corporate Transaction (the “Transaction Agreement”), which may include, in the sole discretion of the Committee or the
parties to the Corporate Transaction, the assumption or continuation of such Restricted Shares by, or the substitution for such Restricted Shares of new awards of, the surviving, successor or resulting entity, or a parent or subsidiary thereof, or
the Company or ESH REIT with such adjustments as to the number and kind of shares or other securities or property subject to such new awards, and other terms of such new awards as the Committee or the parties to the Corporate Transaction shall
agree, or 
 (b) Outstanding Restricted Shares shall terminate upon the consummation of the Corporate Transaction;
provided, however, that vested Restricted Shares shall not be terminated without providing the holders of affected Restricted Shares payment (in cash or other consideration upon or immediately following the consummation of the
Corporate Transaction, or, to the extent permitted by Section 409A of the Code, on a deferred basis) in respect of each Restricted Share being cancelled of the per Share price to be paid or distributed to stockholders in the Corporate
Transaction, in each case with the value of any non-cash consideration to be determined by the Committee in good faith. 
 6.2.
Any action permitted under this Section 6 may be taken without the need for the consent of any Distributee. 
 7. Compliance with
Section 409A. All Distributed Shares distributed under this Agreement are intended not to be subject to Section 409A of the Code. Notwithstanding this or any other provision of the Agreement to the contrary, the Committee may amend
the Agreement or any Restricted Share distributed hereunder in any manner or take any other action that it determines, in its sole discretion, is necessary, appropriate or advisable (including replacing any Restricted Share) to cause the Agreement
distributed hereunder to comply with Section 409A of the Code and all regulations and other guidance issued hereunder or to not be subject to Section 409A of the Code. Any such action, once taken, shall be deemed to be effective from the
earliest date necessary to avoid a violation of Section 409A of the Code and shall be final, binding and conclusive on all Distributees and other individuals having or claiming any right or interest under this Agreement. 

  
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 8. No Right to Continued Employment or Service. Nothing in this Agreement shall be interpreted
or construed to confer upon a Distributee any right with respect to the continuation of employment with the Company and its subsidiaries or continuation of service as a director of the Company or ESH REIT, nor shall this Agreement restrict in any
way or interfere with the rights of the Company and its subsidiaries or ESH REIT, as applicable, to terminate a Distributee’s employment or service at any time. 
 9. Amendment. 
 9.1. This Agreement shall not be amended, modified,
suspended or terminated without the express consent of each of the Company and ESH REIT. 
 9.2. No such amendment, modification,
suspension or termination shall impair or adversely alter any Restricted Shares theretofore distributed under this Agreement, except with the consent of the Distributee, nor shall any amendment, modification, suspension or termination deprive any
Distributee of any Shares which he or she may have acquired as a result of the Distribution and pursuant to the terms of this Agreement. 
 9.3. To the extent necessary under any applicable law, regulation or exchange requirement, no other amendment shall be effective unless approved by the stockholders of the Company in accordance with
applicable law, regulation or exchange requirement. 
 10. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware without regard to conflict of laws principles. 
 [Signature Page
Follows] 

  
 10 

 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be duly executed and
delivered as of the day and year first written above. 
  

			
	ESH HOSPITALITY HOLDINGS LLC
		
	 By:
	 	  

		 	 Name:

Title:

	
	 EXTENDED STAY AMERICA, INC.

		
	 By:
	 	  

		 	 Name:

Title:

	
	 ESH HOSPITALITY, INC.

		
	 By:
	 	  

		 	 Name:

Title:

 [Signature Page to Restricted Paired Share Agreement] 

  
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