Document:

EXHIBIT 10.20

 Exhibit 10.20 
  
 THE INFORMATION ACQUISITION AGREEMENT 
  
 THIS INFORMATION ACQUISITION AGREEMENT (this “Agreement”) is entered into this 6th day of July, 2004 (the
“Effective Date”), by and between MARRIOTT INTERNATIONAL, INC., a Delaware corporation (“Marriott”) and DIAMONDROCK HOSPITALITY COMPANY, a Maryland corporation (the “Owner”). 
  
 RECITALS: 
  
 A. Marriott and certain of its affiliates manage or franchise hotels as part of the chains known as “Marriott Hotels
& Resorts,” “The Ritz-Carlton,” “Renaissance Hotels and Resorts, “Courtyard by Marriott,” and “Residence Inn by Marriott.” 
  
 B. The Owner desires to acquire hotels to be operated by Marriott or one of its affiliates. Marriott desires to have
additional hotels managed by Marriott or its affiliates. In consideration of the foregoing, the Owner and Marriott currently desire to have a strategic relationship between them which will further the goals and objectives of both parties.

  
 C. Marriott and the Owner mutually believe that the strategic
relationship between them will further the goals and interests of each of them. Marriott and the Owner further mutually believe that it is in the best interests of each of them that the terms of the strategic relationship between them remain
flexible, non-binding and subject to change or cancellation by either party, except as otherwise set forth in this Agreement. 
  
 In consideration of the foregoing, and in order to promote their mutual and joint interests, the Owner and Marriott hereby agree as follows: 

 
 1. Agreement. Marriott covenants and agrees that for the period
beginning on July 1, 2004 and ending on June 30, 2006 (the “Term”), Marriott will not enter into any Marriott Restricted Agreement. Notwithstanding the foregoing, Marriott retains the right to enter into written agreements affecting
opportunities in any geographic area comprised of less than 10% of the United States by population. The Owner covenants and agrees that during the Term, the Owner will not enter into any Owner Restricted Agreement. Notwithstanding the foregoing, the
Owner retains the right to enter into written agreements affecting opportunities in geographic areas comprised of less than 10% of the United States by population. For the avoidance of doubt, the foregoing is not intended to modify or affect (i) any
duty of Marriott to an owner or franchisee under any existing management or franchise agreements or other currently existing arrangement or (ii) either party’s right to enter into any agreement with any third party to acquire, develop, buy or
sell, or manage hotels in any given location provided that such agreement is not a Marriott Restricted Agreement or an Owner Restricted Agreement. 
  
 (a) a “Marriott Restricted Agreement” means a written agreement or series of written agreements that require Marriott to grant
any third party the right to receive information from Marriott concerning opportunities to purchase full service, urban select service or urban extended stay hotel in the United States, or in any region thereof, prior to such opportunities being
presented to Owner; 
  

 (b) an “Owner Restricted Agreement” means a written agreement or series of
written agreements that require Owner to grant any third party the right to receive information from Owner concerning potential opportunities to provide hotel management services for full service, urban select service or urban extended-stay hotels
in the United States, or in any region thereof, prior to such opportunity being presented to Marriott; and 
  
 (c) “Urban select service” or “urban extended stay” hotels shall mean those select service and extended stay hotels
located in central business districts in cities with a population of not less than five hundred thousand (500,000) persons as determined by the most currently available U.S. census tract maps. 
  
 2. Representations and Warranties of the Owner. The Owner represents
and warrants to Marriott as follows as of the Effective Date: 
  
 (a) The Owner has been duly incorporated, is validly existing and is in good standing in the State of Maryland and has been duly qualified to transact business and is in good standing in each jurisdiction in which the
nature of its business so requires. The Owner has all the requisite power and authority to enter into and comply with its obligations under this Agreement. 
  
 (b) The execution, delivery and performance of this Agreement and all of the documents and instruments required hereby are within the
power of the Owner and have been duly authorized by all necessary action of the Owner. This Agreement is, and the other documents and instruments required hereby will be, when executed and delivered by the Owner, the valid and binding obligations of
the Owner, enforceable against the Owner in accordance with their respective terms. 
  
 (c) The execution, delivery and performance of this Agreement by the Owner does not and will not conflict with or violate or result in a
breach of the terms, conditions or provisions of any agreement, document or instrument to which the Owner is a party or by which the Owner is bound. 
  
 (d) There is no suit, action, investigation or proceeding pending or, to the knowledge of the Owner, threatened against or affecting the
Owner, which, if adversely determined, would have an adverse effect on the Owner’s ability to comply with the terms or provisions of this Agreement. 
  

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 3. Representations and Warranties of Marriott. Marriott represents and warrants to the Owner as
follows as of the Effective Date: 
  
 (a)
Marriott has been duly incorporated, is validly existing and is in good standing in the State of Delaware and has been duly qualified to transact business and is in good standing in each jurisdiction in which the nature of its business so requires.
Marriott has all the requisite power and authority to enter into and comply with its obligations under this Agreement. 
  
 (b) The execution, delivery and performance of this Agreement and all of the documents and instruments required hereby are within the
power of Marriott and have been duly authorized by all necessary action of Marriott. This Agreement is, and the other documents and instruments required hereby will be, when executed and delivered by Marriott, the valid and binding obligations of
Marriott, enforceable against Marriott in accordance with their respective terms. 
  
 (c) The execution, delivery and performance of this Agreement by Marriott does not and will not conflict with or violate or result in a
breach of the terms, conditions or provisions of any agreement, document or instrument to which Marriott is a party or by which Marriott is bound. 
  
 (d) There is no suit, action, investigation or proceeding pending or, to the knowledge of Marriott, threatened against or affecting
Marriott, which, if adversely determined, would have an adverse effect on Marriott’s ability to comply with the terms or provisions of this Agreement. 
  
 4. Default. If either party breaches this agreement, the non-breaching party’s sole remedies are to seek injunctive relief or specific
performance or to terminate this agreement. 
  
 5.
Relationship. Neither this Agreement nor any agreements, instruments, documents or transactions contemplated hereby shall in any respect be interpreted, deemed or construed as making Marriott an agent, partner, sponsor, or joint venturer with
the Owner or as creating any similar relationship. Marriott and the Owner agree that notwithstanding any informal relationship, current intentions regarding business opportunities, or subsequent course of dealings, no legal relationship or
obligation shall arise between Marriott and the Owner, other than the respective obligations described in Paragraph 1, unless specified in an explicit written agreement between the two parties. Both the Owner and Marriott covenant and agree that
they will not make any contrary assertion, contention, claim or counterclaim in any action, suit, arbitration or other legal proceedings involving Marriott and the Owner. 
  
 6. No Representation. In entering into this Agreement, Marriott and the Owner acknowledge that neither
Marriott nor the Owner has made any representation to the other regarding projected earnings, the possibility of future success or any other similar matter with respect to the subject matter of this Agreement and that Marriott and the Owner
understand that no guarantee is made to the other as to any specific amount of income to be received by Marriott or the Owner or as to the future financial success of any hotel. 
  

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 7. Miscellaneous Provisions. 
  
 7.1 Further Assurances. The Owner and Marriott shall execute and deliver all other appropriate
supplemental agreements and other instruments, and take any other action necessary to make this Agreement fully and legally effective, binding and enforceable as between them and as against third parties. 
  
 7.2 Successors and Assigns. This Agreement shall be
binding upon and inure to the benefit of the Owner, its permitted successors and assigns, and shall be binding upon and inure to the benefit of Marriott, its successors and assigns. Neither party may assign any rights under this Agreement to any
person except to a wholly- owned subsidiary which will be bound by each and every term and condition of this Agreement, and no such assignment shall relieve either party of any duty or obligation hereunder. 
  
 7.3 Governing Law. This Agreement is executed
pursuant to, and shall be construed under and governed exclusively by, the internal laws of the State of Maryland. 
  
 7.4 Jurisdiction. Each party hereby expressly and irrevocably submits itself to the non-exclusive jurisdiction of the federal or
the state courts of the State of Maryland. 
  
 7.5 Amendments. This Agreement may not be modified, amended, surrendered or changed, except by a written instrument executed by the Owner and Marriott. 
  
 7.6 Partial Invalidity. If any of the provisions in this Agreement shall be declared invalid by a
final and non-appealable order, decree or judgment of any court, this Agreement shall be construed as if such provision(s) had not been inserted, unless such construction would substantially destroy the benefit of the bargain of this Agreement to
either the Owner or Marriott. 
  
 7.7
Interpretation No provisions of this Agreement shall be construed against or interpreted to the disadvantage of any party hereto by any court or other governmental or judicial authority by reason of such party having or being deemed to have
structured or dictated such provision. 
  
 7.8
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and need not be signed by more than one of the parties hereto and all of which shall constitute one and the same
agreement. 
  
 7.9 Notices. Any notice,
statement or demand required to be given under this Agreement shall be in writing and be, and at the option of the party giving 

  

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notice, (i) personally delivered (including delivery by a recognized overnight courier service), (ii) transmitted by postage prepaid certified mail addressed
or (iii) transmitted by facsimile, as follows: 
  
 To the Owner. 
  
 DiamondRock
Hospitality Company 
 10400 Fernwood Road 
 Bethesda, Maryland 20817 
 Attention: General Counsel 
  
 To Marriott: 
  
 Marriott International, Inc. 
 10400 Fernwood Road 
 Bethesda, Maryland 20817 
 Attention: General Counsel 
  
 With copy to: 
  
 Venable LLP 
 1800 Mercantile Bank and Trust Building 
 2 Hopkins Plaza 
 Baltimore, Maryland 21201 
 Attention: James D. Wright, Esquire 
  
 or to such other addresses as Marriott or the Owner shall designate in the manner herein
provided. Any such notice shall be deemed to have been given on (x) the date of receipt by the party to which such notice is addressed at the designated address if delivered personally to the party to which such notice was addressed, or (y) the day
three (3) days after it shall have been posted if transmitted by certified mail, whichever shall first occur, but the time period for any response thereto or action in connection therewith shall not commence to run until actual receipt by any
employee of the recipient at the designated address or rejection or inability to deliver such notice. The Owner and Marriott each agree that upon giving of any notice, it shall use its best efforts to advise the other by telephone that a notice has
been sent hereunder. Such telephonic advice shall not, however, be a condition to the effectiveness of notice hereunder. 
  
 [Signatures begin on next page.] 
  

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

					
	MARRIOTT:
	
	 MARRIOTT INTERNATIONAL, INC.

		
	By:	 	 /s/ Michael E. Dearing

	 	 	 Name:
	 	 Michael E. Dearing

	 	 	 Title:
	 	 Vice President

	
	OWNER:
	
	 DIAMONDROCK HOSPITALITY COMPANY

		
	By:	 	 /s/ Michael D. Schecter

	 	 	 Name:
	 	 Michael D. Schecter

	 	 	 Title:
	 	 General Counsel

  

 6EXHIBIT 10.24

 EXHIBIT 10.24 
  
 SUMMARY OFFER OF EMPLOYMENT 
 FOR 
 Fred Kulikowski 
 October 13, 2004 
  
 Position title: President and Chief Operating Officer of Commercial Federal Corporation and Commercial Federal Bank. 
  
 Board Seat: You will be nominated for appointment to both the Board of the Commercial Federal Corporation and that of Commercial Federal Bank. This requires
confirmation by the full Board of Directors. 
  
 Salary: Your base
salary will be $500,000 per year (paid two times per month—on the 15th and last day of the month). 

 
 Sign-on Bonus: You will receive a $650,000 cash sign-on bonus upon
acceptance of this offer and initiation of employment. In the event you leave the company voluntarily during the first twenty-four (24) months, repayment of your bonus would be prorated accordingly. 
  
 Restricted Stock Award: You will receive a restricted stock award (RSA) of
40,000 CFB shares as of your start date. The restrictions on this award will lapse at the rate of 33.33% per year beginning with the first anniversary of the award date. 
  
 Stock Options: You will be awarded 250,000 stock options on your start date. These options will be immediately vested. The
option exercise price will be the average of the high and low trade of CFB shares on the NYSE on either the start date or the signing date, to be determined. The Board of Directors may also award discretionary stock options on an annual basis.
Amounts have varied from year to year. You will be eligible for a stock option grant consideration. 
  
 Employment Contract: Commercial Federal will enter into a three-year Employment Contract with you. If during the contract period, your employment is terminated for any reason other than cause or your
voluntary resignation, CFB will pay you for the remaining term of the contract period. 
  
 Change of Control Agreement: You will receive a 35.88-month Change of Control Agreement. In summary, in the event of a change of control, you will continue to receive your base salary and all bonuses
(including short- and long-term incentive awards and stock options granted pursuant to the above) in effect at the time of the involuntary termination for a period of 35.88 months. Under current policy, all benefits and payments pursuant to a change
in control shall be reduced, if necessary, to the largest aggregate amount that will result in no portion thereof being subject to federal excise tax or being nondeductible to the Employer for federal income tax purposes under Sections 280G or 4999
of the Code. The Executive will determine which payments or benefits are to be reduced, if necessary to conform to this provision. You will also be eligible to continue health and life insurance coverage. The Agreement to be approved by the Board of
Directors at their meeting following hire date. 
  
 Annual Incentive
Plan: Participation in the Commercial Federal Bank Management Incentive Plan (MIP) with an annual incentive opportunity of 60% of base salary in cash and 20% of base salary in restricted stock awards (which mature over a 5 year vesting
period) for achieving 100% of Plan target. The restricted stock awards will be part of the Annual MIP only in 2005 as CFB transitions to the full implementation of the Long Term Incentive Plan. 
  
 The specific award from this plan is based on corporate performance. The Board of Directors
sets the corporate performance goals. If goals are met, you will realize the initial payout from this program in March of 2006. 

 Long Term Incentive Plan: You will participate in the Long Term Incentive Plan. The 2005-2007 Plan has not
yet been approved by the Compensation Committee of the Board. Performance targets will be reviewed by the Compensation Committee by December 31, 2004. 
  
 Retirement Savings Plan: You are eligible to participate in the Commercial Federal 401(k) Plan immediately. The 8% match begins the month following
completion of one year of service. You are 100% vested in the match after five years of service. In the event of a Change of Control, the vesting is accelerated. 
  
 Deferred Compensation: You will be eligible to participate in CFB’s Deferred Compensation Plan upon employment. Election
to defer must occur within 30 days of your start date. CFB will make a contribution to the Deferred Compensation Plan in 2005 equal to the company matching contributions you are not eligible to receive in the Retirement Savings Plan (the 401(k)
Plan) during your first calendar year of employment. 
  
 Relocation:
To be negotiated. 
  
 Life Insurance: You are eligible to receive
$1,000,000 life insurance coverage through our Group Plan and you have the option to purchase supplemental coverage. You will also receive Accidental Death and Dismemberment Insurance (AD&D) at the same amount of coverage. 
  
 Health and Dental Insurance: We provide medical and dental coverage under a
self-funded group plan, administered by Blue Cross/Blue Shield. Coverage you elect under these plans will be effective the first day of employment, provided you enroll within the first thirty days of employment. 
  
 Short Term Disability: Benefit eligibility begins after satisfying a waiting
period of the first of the month following 90 days of employment. Benefit is 100% of pre-disability base salary for one week for each year of service, followed by 60% of pre-disability base salary for up to 90 days (including the 5 day waiting
period). 
  
 Long Term Disability: Our LTD Plan will provide you
$15,000 per month in the event of a qualifying disability. Our Plan is based on your “own occupation”, and as with most such plans, has a Social Security offset. This coverage goes into effect on the first of the month following 90 days of
employment. 
  
 Paid Time Off: Commercial Federal uses a Paid
Time-Off (PTO) program to provide for vacation, short-term sickness, and other personal time off. Upon employment, you will be granted a balance of three (3) days for 2004. In 2005 you will begin to accrue nineteen days of PTO for year one and two
of service. 
  
 Start Date: To be determined. 
  
 This Summary Offer of Employment is not a contract. Employees at Commercial Federal are
“at will” employees. Any employee may terminate his employment relationship with Commercial Federal at any time for any reason. Similarly, the “at will” status means that Commercial Federal may terminate the employee at any time
with or without cause or notice. An employee who accepts or continues employment with Commercial Federal agrees to the at will employment relationship. 
  

					
	ACCEPTED:	 	 	 	 
			
	 /s/ Fred Kulikowski
	 	 	 	 October 18, 2004

	 Fred Kulikowski
	 	 	 	 Date

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