Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO MANAGEMENT AGREEMENT 

between 
 ESA P
PORTFOLIO OPERATING LESSEE LLC 
 (LESSEE) 

and 
 ESA MANAGEMENT,
LLC 
 (MANAGER) 

July 28, 2014 

 FIRST AMENDMENT TO MANAGEMENT AGREEMENT 

THIS FIRST AMENDMENT TO MANAGEMENT AGREEMENT (this “Agreement”) is made as of July 28, 2014 by and between ESA P
PORTFOLIO OPERATING LESSEE LLC (f/k/a ESA P Portfolio Operating Lessee Inc. (f/k/a BRE/ESA P Portfolio Operating Lessee Inc.)), a Delaware limited liability company (“Lessee”), and ESA MANAGEMENT, LLC, a Delaware limited liability
company (“Manager”). 
 BACKGROUND 

A. Lessee and Manager entered into that certain Management Agreement dated as of November 11, 2013 (the “Original Management
Agreement”) pursuant to which Manager agreed to render certain services in connection with the management and operation of the Hotels (as defined in the Original Management Agreement) to Lessee on the terms and subject to the conditions set
forth in the Management Agreement; 
 B. Lessee and Manager wish to remove two hotels from the Hotels; 

C. Lessee and Manager wish to amend and modify the Original Management Agreement as hereinafter set forth. 

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

1. Amendment. Schedule A of the Original Management Agreement is hereby modified by deleting therefrom the following properties: 

 

					
	 Site #
	  	 Address
	  	 Owner

	990	  	1051 Canton Rd., Marietta, GA	  	ESA P Portfolio L.L.C.
			
	993	  	6231 Hwy 85, Riverdale GA	  	ESA P Portfolio L.L.C.

 2. Ratification. All provisions of the Original Management Agreement, as hereby amended, are hereby
ratified and declared to be in full force and effect. All references in the Original Management Agreement to the “Agreement”, “herein”, “hereunder” or terms of similar import shall be deemed to refer to the Original
Management Agreement, as amended by this Agreement. 
 3. Applicable Law. This Agreement shall be construed under, and governed in
accordance with, the laws of the State of New York. 

 4. Successors Bound. This Agreement shall be binding upon and inure to the benefit of
Lessee, its successors and assigns, and shall be binding and inure to the benefit of Manager and its permitted assigns. 
 5.
Headings. Headings of sections are inserted only for convenience and are in no way to be construed as a limitation on the scope of the particular sections to which they refer. 

6. Incorporation of Recitals. The recitals set forth in the preamble of this Agreement are hereby incorporated into this Agreement as
if fully set forth herein. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 2 

 IN WITNESS HEREOF, the parties hereto have caused this Agreement to be executed and delivered as
of the date first above written. 
  

			
	
	LESSEE:
	
	 ESA P PORTFOLIO OPERATING LESSEE LLC,

a Delaware limited liability company

		
	By:	 	 /s/ Ross W. McCanless

	Name:	 	Ross W. McCanless
	Title:	 	Vice President & Secretary

 [Signatures continue on the following page] 

FIRST AMENDMENT TO MANAGEMENT AGREEMENT (P PORTFOLIO)

 
			
	MANAGER:
	
	 ESA MANAGEMENT, LLC, a Delaware limited

liability company

		
	By:	 	 /s/ Ross W. McCanless

	Name:	 	Ross W. McCanless
	Title:	 	Vice President & Secretary

 FIRST AMENDMENT TO MANAGEMENT
AGREEMENT (P PORTFOLIO)EX-10.2

 Exhibit 10.2 

THIRD AMENDMENT TO TRADEMARK LICENSE AGREEMENT 

THIS THIRD AMENDMENT TO TRADEMARK LICENSE AGREEMENT (this “Amendment”), entered into and effective as of July 28, 2014
(the “Amendment Effective Date”), by and between ESH STRATEGIES BRANDING LLC, a Delaware limited liability company (“Licensor”), and ESA P PORTFOLIO OPERATING LESSEE LLC, a Delaware limited liability company
(“Licensee”). 
 W I T N E S S E T H: 

WHEREAS Licensor and Licensee are parties to that certain Trademark License Agreement dated October 8, 2010, as amended by (a) that
certain First Amendment to Trademark License Agreement dated November 30, 2012 and (b) that certain Second Amendment to Trademark License Agreement dated December 13, 2012 (collectively, as amended, the “Original Trademark
License Agreement”); and 
 WHEREAS Licensor and Licensee each wish to further amend the Original Trademark License Agreement as
set forth below. 
 NOW, THEREFORE, in consideration of the foregoing recitals and the premises and the mutual covenants herein contained,
and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

1. All capitalized terms used herein but not defined shall have the meanings ascribed to them in the Original Trademark License Agreement.

 2. Schedule C of the Original Trademark License Agreement is hereby modified by deleting therefrom the following properties: 

 

											
	 	  	State	 	  	Site #	 	  	 Address

	 201.
	  	 	GA	  	  	 	990	  	  	1051 Canton Rd., Marietta, GA
				
	 204.
	  	 	GA	  	  	 	993	  	  	6231 Hwy 85, Riverdale, GA

 3. Except as expressly set forth in this Amendment, the Original Trademark License Agreement continues and
remains unmodified and in full force and effect, and the Original Trademark License Agreement as hereby amended is ratified and confirmed. 

4. All references in the Original Trademark License Agreement to “this Agreement” shall hereafter be deemed to refer to the Original
Trademark License Agreement as amended by this Amendment. 
 5. This Amendment may be executed in one or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same instrument. 

 IN WITNESS WHEREOF, Licensor and Licensee have caused this Amendment to be duly executed on their
behalf in the manner legally binding upon them. 
  

			
	 LICENSOR:

	
	 ESH STRATEGIES BRANDING LLC,
 a
Delaware limited liability company

		
	 By:
	 	 /s/ Ross W. McCanless

	 Name:
	 	Ross W. McCanless
	 Title:
	 	Vice President & Secretary

 [Signatures continue on the following page] 

[Signature Page to Third Amendment to Trademark License Agreement] 

 
			
	LICENSEE:
	
	 ESA P PORTFOLIO OPERATING LESSEE LLC,

a Delaware limited liability company

		
	By:	 	 /s/ Ross W. McCanless

	Name:	 	Ross W. McCanless
	Title:	 	Vice President & Secretary

 [Signature Page to Third Amendment to Trademark License Agreement]EX-10.3

 Exhibit 10.3 

SIXTH AMENDMENT TO LEASE AGREEMENT 

DATED AS OF JULY 28, 2014 

BY AND BETWEEN 
 ESA P PORTFOLIO
L.L.C., 
 ESA P PORTFOLIO MD TRUST, AND 

ESH/TN PROPERTIES L.L.C. 

INDIVIDUALLY AND COLLECTIVELY 
 AS
LANDLORD 
 AND 
 ESA P
PORTFOLIO OPERATING LESSEE LLC 
 AS TENANT 

 SIXTH AMENDMENT TO LEASE AGREEMENT 

THIS SIXTH AMENDMENT TO LEASE AGREEMENT (this “Agreement”) is entered into as of July 28, 2014, by and between ESA P
PORTFOLIO L.L.C., a Delaware limited liability company, ESA P PORTFOLIO MD TRUST, a Delaware statutory trust, and ESH/TN PROPERTIES L.L.C., a Delaware limited liability company (individually and collectively, “Landlord”), and ESA P
PORTFOLIO OPERATING LESSEE LLC (f/k/a ESA P Portfolio Operating Lessee Inc.), a Delaware limited liability company (“Tenant”). 

WITNESSETH 
 WHEREAS, Landlord
and Tenant entered into that certain Lease Agreement dated as of October 8, 2010 as amended by (a) that certain First Amendment to Lease Agreement dated as of April 9, 2012, (b) that certain Second Amendment to Lease Agreement
dated as of November 30, 2012, (c) that certain Third Amendment to Lease Agreement dated as of December 13, 2012, (d) that certain Fourth Amendment to Lease Agreement dated as of April 15, 2013 and (e) that certain
Fifth Amendment to Lease Agreement (the “Fifth Amendment”) dated as of November 11, 2013 (collectively, as so amended, the “Original Lease Agreement”) pursuant to which Landlord has agreed to lease the Leased
Property (as defined in the Original Lease Agreement) to Tenant and Tenant has agreed to lease the Leased Property from Landlord, all subject to and upon the terms and conditions set forth in the Original Lease Agreement; 

WHEREAS, in connection with the sale of Hotel #198 and Hotel #201 (collectively, the “Marietta and Riverdale Hotels”),
Landlord and Tenant wish to remove the Marietta and Riverdale Hotels from the definitions of Land and Leased Property and to appropriately adjust the Rent tor reflect such sale; and 

WHEREAS, Landlord and Tenant wish to amend and modify the Original Lease Agreement as hereinafter set forth. 

NOW THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, the mutual receipt and
legal sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows. 
 1. Amendment. In connection with
the sale of the Marietta and Riverdale Hotels, 
 (a) Exhibit A of the Original Lease Agreement (as replaced in its entirety by Annex A to
the Fifth Amendment) is hereby amended by deleting the following Hotels therefrom: 

																							
	 	  	 Address
	  	Minimum Rent
– Through
12/31/2014	 	  	Minimum
Rent – 2015	 	  	Minimum
Rent – 2016	 	  	Minimum
Rent – 2017	 	  	Minimum
Rent – 2018	 
	 198
	  	1051 Canton Rd, Marietta, GA	  	$	394,000.00	  	  	$	406,000.00	  	  	$	418,000.00	  	  	$	431,000.00	  	  	$	444,000.00	  
	 201
	  	6231 Hwy 85, Riverdale, GA	  	$	476,000.00	  	  	$	490,000.00	  	  	$	505,000.00	  	  	$	520,000.00	  	  	$	536,000.00	  

  

																							
	 	  	 Address
	  	Minimum
Rent – 2019	 	  	Minimum
Rent – 2020	 	  	Minimum
Rent – 2021	 	  	Minimum
Rent – 2022	 	  	Minimum
Rent – 2023	 
	 198
	  	1051 Canton Rd, Marietta, GA	  	$	457,000.00	  	  	$	471,000.00	  	  	$	485,000.00	  	  	$	500,000.00	  	  	$	515,000.00	  
	 201
	  	6231 Hwy 85, Riverdale, GA	  	$	552,000.00	  	  	$	569,000.00	  	  	$	586,000.00	  	  	$	604,000.00	  	  	$	622,000.00	  

  

																							
	 	  	 Address
	  	Minimum
Rent – 2024	 	  	Minimum
Rent – 2025	 	  	Minimum
Rent – 2026	 	  	Minimum
Rent – 2027	 	  	Minimum
Rent – 2028	 
	198	  	1051 Canton Rd, Marietta, GA	  	$530,000.00	 	  	$546,000.00	 	  	$562,000.00	 	  	$579,000.00	 	  	$596,000.00	 
	 201
	  	6231 Hwy 85, Riverdale, GA	  	$	641,000.00	  	  	$	660,000.00	  	  	$	680,000.00	  	  	$	700,000.00	  	  	$	721,000.00	  

 (b) Exhibit A of the Original Lease Agreement (as replaced in its entirety by Annex A to the Fifth Amendment)
is hereby amended by deleting the “Aggregate” row thereof and replacing the same with the following: 
  

																					
	 Address
	  	Minimum Rent –
Through
12/31/2014	 	  	Minimum Rent –
2015	 	  	Minimum Rent –
2016	 	  	Minimum Rent –
2017	 	  	Minimum Rent –
2018	 
	 Aggregate
	  	$	459,130,000.00	  	  	$	472,904,000.00	  	  	$	487,091,000.00	  	  	$	501,703,000.00	  	  	$	516,754,000.00	  

  

																					
	 Address
	  	Minimum Rent –
2019	 	  	Minimum Rent –
2020	 	  	Minimum Rent –
2021	 	  	Minimum Rent –
2022	 	  	Minimum Rent –
2023	 
	 Aggregate
	  	$	532,257,000.00	  	  	$	548,224,000.00	  	  	$	564,671,000.00	  	  	$	581,610,000.00	  	  	$	599,058,000.00	  

  

																					
	 Address
	  	Minimum Rent –
2024	 	  	Minimum Rent –
2025	 	  	Minimum Rent –
2026	 	  	Minimum Rent –
2027	 	  	Minimum Rent –
2028	 
	 Aggregate
	  	$	617,030,000.00	  	  	$	635,541,000.00	  	  	$	654,607,000.00	  	  	$	674,245,000.00	  	  	$	694,473,000.00	  

  
 - 2 - 

 (c) Exhibit C of the Original Lease Agreement (as replaced in its entirety by Annex B to the
Fifth Amendment) is hereby amended by deleting the definitions of “Tier 1 Threshold”, “Tier 2 Threshold” and “Tier 3 Threshold” therefrom and replacing them with the following: 

(i) “‘Tier 1 Threshold’ means $887,400,000.00, increasing at a rate of three percent (3%) per annum
compounded annually for each Fiscal Year.” 
 (ii) “‘Tier 1 Threshold’ means $1,017,400,000.00,
increasing at a rate of three percent (3%) per annum compounded annually for each Fiscal Year.” 
 (iii)
“‘Tier 1 Threshold’ means $1,177,400,000.00, increasing at a rate of three percent (3%) per annum compounded annually for each Fiscal Year.” 

2. Ratification. All provisions of the Original Lease Agreement, as hereby amended, are hereby ratified and declared to be in full
force and effect. All references in the Original Lease Agreement to the “Agreement”, “herein”, “hereunder” or terms of similar import shall be deemed to refer to the Original Lease Agreement, as amended by this
Agreement. 
 3. Applicable Law. This Agreement shall be construed under, and governed in accordance with, the laws of the State of
New York; provided, that the provisions for the enforcement of Landlord’s rights and remedies under the Original Lease Agreement, as modified by this Agreement, shall be governed by the laws of each of the respective states where the Leased
Property is located to the extent necessary for the validity and enforcement thereof. 
 4. Successors Bound. This Agreement shall be
binding upon and inure to the benefit of Lessee, its successors and assigns, and shall be binding and inure to the benefit of Manager and its permitted assigns. 

5. Headings. Headings of sections are inserted only for convenience and are in no way to be construed as a limitation on the scope of
the particular sections to which they refer. 
 6. Incorporation of Recitals. The recitals set forth in the preamble of this
Agreement are hereby incorporated into this Agreement as if fully set forth herein. 
 [SIGNATURE PAGE FOLLOWS] 

  
 - 3 - 

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

  

			
	LANDLORD
	
	ESA P PORTFOLIO L.L.C.
		
	By:	 	 /s/ Ross W. McCanless

	Name:	 	Ross W. McCanless
	Title:	 	Vice President & Secretary
	
	ESA P PORTFOLIO MD TRUST
		
	By:	 	 /s/ Ross W. McCanless

	Name:	 	Ross W. McCanless
	Title:	 	Vice President & Secretary
	
	ESH/TN PROPERTIES L.L.C.
		
	By:	 	 /s/ Ross W. McCanless

	Name:	 	Ross W. McCanless
	Title:	 	Vice President & Secretary
	
	TENANT
	
	ESA P PORTFOLIO OPERATING LESSEE LLC
		
	By:	 	 /s/ Ross W. McCanless

	Name:	 	Ross W. McCanless
	Title:	 	Vice President & Secretary

 SIXTH AMENDMENT TO OPERATING
LEASE (P PORTFOLIO)

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