Document:

EX-10.2

 Exhibit 10.2 
  

 
  

 
  

TRANSITION SERVICES AGREEMENT 

BY AND BETWEEN 
 INLAND
AMERICAN REAL ESTATE TRUST, INC. 
 AND 

XENIA HOTELS & RESORTS, INC. 

DATED AS OF [—], 2015 

 
  
  

 
  

 TABLE OF CONTENTS 

 

									
	 	 	 	 	 	  	Page	 
		
	 ARTICLE I SERVICES
	  	 	1	  
				
		 	Section 1.01	 	General	  	 	1	  
		 	Section 1.02	 	Quality of Services	  	 	1	  
		 	Section 1.03	 	Duration of Services	  	 	2	  
		 	Section 1.04	 	Third Party Services	  	 	2	  
		 	Section 1.05	 	Responsible Personnel	  	 	2	  
		 	Section 1.06	 	Changes to Services	  	 	3	  
		 	Section 1.07	 	Amendments to Schedule A	  	 	3	  
		
	 ARTICLE II COMPENSATION; BILLING
	  	 	3	  
				
		 	Section 2.01	 	Service Fees	  	 	3	  
		 	Section 2.02	 	Expenses	  	 	3	  
		 	Section 2.03	 	Taxes	  	 	3	  
		 	Section 2.04	 	Payment	  	 	3	  
		 	Section 2.05	 	Payment of Expenses	  	 	4	  
		 	Section 2.06	 	Payment Delay; Finance Charges	  	 	4	  
		 	Section 2.07	 	No Right to Set-Off	  	 	4	  
		
	 ARTICLE III COOPERATION AND CONSENTS
	  	 	4	  
				
		 	Section 3.01	 	General	  	 	4	  
		 	Section 3.02	 	Transition	  	 	4	  
		 	Section 3.03	 	Consents	  	 	5	  
		
	 ARTICLE IV CONFIDENTIALITY
	  	 	5	  
				
		 	Section 4.01	 	Recipient Confidential Information	  	 	5	  
		 	Section 4.02	 	Provider Confidential Information	  	 	6	  
		 	Section 4.03	 	Required Disclosure	  	 	7	  
		 	Section 4.04	 	Return or Destruction of Confidential Information	  	 	7	  
		
	 ARTICLE V INTELLECTUAL PROPERTY
	  	 	7	  
				
		 	Section 5.01	 	Recipient Intellectual Property	  	 	7	  
		 	Section 5.02	 	Provider Intellectual Property	  	 	8	  
		
	 ARTICLE VI LIMITED LIABILITY AND INDEMNIFICATION
	  	 	8	  
				
		 	Section 6.01	 	Consequential and Other Damages	  	 	8	  
		 	Section 6.02	 	Limitation of Liability	  	 	8	  
		 	Section 6.03	 	Obligation To Reperform; Liabilities	  	 	8	  
		 	Section 6.04	 	Release and Recipient Indemnity	  	 	8	  
		 	Section 6.05	 	Provider Indemnity	  	 	9	  
		 	Section 6.06	 	Indemnification Procedures	  	 	9	  
		 	Section 6.07	 	Liability for Payment Obligations	  	 	9	  

									
		 	Section 6.08	 	Exclusion of Other Remedies	  	 	9	  
		
	 ARTICLE VII INDEPENDENT CONTRACTOR
	  	 	9	  
		
	 ARTICLE VIII COMPLIANCE WITH LAWS
	  	 	9	  
		
	 ARTICLE IX TERM AND TERMINATION
	  	 	9	  
				
		 	Section 9.01	 	Term	  	 	9	  
		 	Section 9.02	 	Termination of this Agreement	  	 	10	  
		 	Section 9.03	 	Effect	  	 	11	  
		
	 ARTICLE X DISPUTE RESOLUTION
	  	 	11	  
				
		 	Section 10.01	 	Dispute Resolution	  	 	11	  
		 	Section 10.02	 	Waiver of Jury Trial.	  	 	12	  
		
	 ARTICLE XI MISCELLANEOUS
	  	 	12	  
				
		 	Section 11.01	 	Further Assurances	  	 	12	  
		 	Section 11.02	 	Amendments and Waivers	  	 	12	  
		 	Section 11.03	 	Entire Agreement	  	 	12	  
		 	Section 11.04	 	Third Party Beneficiaries	  	 	12	  
		 	Section 11.05	 	Notices	  	 	13	  
		 	Section 11.06	 	Counterparts; Electronic Delivery	  	 	13	  
		 	Section 11.07	 	Severability	  	 	13	  
		 	Section 11.08	 	Assignability	  	 	14	  
		 	Section 11.09	 	Governing Law	  	 	14	  
		 	Section 11.10	 	Disclaimer of Representations and Warranties	  	 	14	  
		 	Section 11.11	 	Force Majeure	  	 	15	  
		 	Section 11.12	 	Construction and Interpretation	  	 	16	  
		 	Section 11.13	 	Titles and Headings	  	 	16	  
		 	Section 11.14	 	Schedules	  	 	16	  
		 	Section 11.15	 	Specific Performance	  	 	16	  
		 	Section 11.16	 	Limited Liability	  	 	17	  
		
	 SCHEDULE A
	  	 	1	  

  
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 TRANSITION SERVICES AGREEMENT 

This Transition Services Agreement (this “Agreement”) is entered into and effective as of [—], 2015 (the “Effective Date”), by and between Inland American Real Estate Trust, Inc., a Maryland corporation (“Provider”), and Xenia Hotels & Resorts, Inc.,
a Maryland corporation (“Recipient”). Provider and Recipient may each be referred to herein as a “Party,” and are collectively referred to as the “Parties.” Capitalized terms used but not defined
herein shall have the meanings given them in the Separation Agreement (defined below). 
 RECITALS 

WHEREAS, Provider, through Recipient, has previously been engaged in the business of investing in premium full service, lifestyle and urban
upscale hotels; 
 WHEREAS, the board of directors of Provider has determined that it is advisable and in the best interests of Provider to
establish Recipient as an independent publicly traded company, and in furtherance thereof, to distribute to the stockholders of Provider, on a pro rata basis, 95% of the outstanding shares of common stock of Recipient (the
“Separation”); 
 WHEREAS, Provider and Recipient have entered into that certain Separation and Distribution Agreement,
dated as of [—], 2015 (the “Separation Agreement”), to carry out, effect, and consummate the Separation; and 

WHEREAS, pursuant to the Separation Agreement, the Parties have agreed that Provider shall provide (or cause to be provided) to Recipient and
its Subsidiaries, and Recipient and its Subsidiaries shall receive, certain services and other assistance on a transitional basis following the Separation and in accordance with the terms of, and subject to, the conditions set forth in this
Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and mutual promises, covenants, agreements, representations and warranties
contained herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 

ARTICLE I 
 SERVICES 

Section 1.01 General. In accordance with the provisions hereof, Provider shall provide (or cause to be provided) to Recipient and
its Subsidiaries, and Recipient and its Subsidiaries shall receive, the services described on Schedule A attached hereto (each such service, a “Service” and, collectively, the “Services”). Schedule A
may be amended from time to time by written agreement of the Parties. 
 Section 1.02 Quality of Services. Provider shall
perform (or cause to be performed) the Services (i) in a workmanlike and professional manner, (ii) with the same degree of care as it exercises in performing its own functions of a like or similar nature, and, where applicable, in a manner
substantially consistent with the quantity and scope of the Services provided by Provider 

 
to Recipient and its Subsidiaries in the ordinary course prior to the Effective Time (except to the extent otherwise provided herein), (iii) where applicable, utilizing persons set forth on
Schedule A (each, a “Specified Person”), subject to the limitations set forth herein, and (iv) in a timely manner in accordance with the provisions of this Agreement and consistent with historical practice (except to the
extent otherwise provided herein), it being understood that nothing in this Agreement will require Provider to favor Recipient and its Subsidiaries over the other business operations of Provider and its Subsidiaries. 

Section 1.03 Duration of Services. Subject to the terms of this Agreement, Provider will provide (or cause to be provided) the
Services to Recipient and its Subsidiaries until the Termination Date (as defined below) or earlier termination of this Agreement in accordance with Section 9.02, or if earlier, with respect to each Service, the earlier of (i) the
expiration date for such Service set forth on Schedule A, or (ii) the date upon which such Service is terminated under Section 9.01(b); provided, however, that to the extent that Provider’s ability to
provide a Service is dependent on the continuation of a related Service (and such dependence has been made known to the other Party), then Provider’s obligation to provide such dependent Service shall terminate automatically with the
termination of such related Service. 
 Section 1.04 Third Party Services. Each Party acknowledges and agrees that certain
Services provided on Schedule A-3 will be provided by third parties, and that such Services shall be provided by the third parties designated by Provider. If (a) Provider elects to engage a different third party to provide such Services
than the third party previously engaged by Provider in connection with such Services or (b) such third party previously engaged by Provider in connection with such Services is unable or unwilling to provide any such Services, Provider shall
promptly notify Recipient in writing, and shall use its commercially reasonable efforts to determine the manner in which such Services can best be provided, and, if there is any change to the Services provided as a result, including the level or
cost thereof, Provider and Recipient shall negotiate in good faith to amend Schedule A as appropriate. 
 Section 1.05 Responsible
Personnel. 
 (a) Provider shall designate a point of contact for each Service listed on Schedule A who will be directly
responsible for coordinating and managing the delivery of such Service and have authority to act on behalf of Provider with respect to matters relating to such Service. 

(b) If a Specified Person has been designated on Schedule A with respect to a Service, unless otherwise agreed in writing by the
Parties, Provider will cause such Specified Person to provide such Service. If such Specified Person ceases to be employed by Provider or one of its Subsidiaries or goes on a leave of absence (i) Provider or Recipient may terminate such Service
in accordance with Section 9.01(b), or (ii) the Parties may mutually agree to amend Schedule A to designate a replacement for such Specified Person. 

(c) Except as set forth in subsection (b), Provider will have the right, in its reasonable discretion, to (i) designate which of its
personnel will be involved in providing Services to Recipient, and (ii) remove and replace any such personnel, so long as there is no resulting increase in costs, or decrease in the level of service for Recipient; provided,
however, that Provider will use its commercially reasonable efforts to limit disruption of the provision of Services to Recipient in the transition of the Services to different personnel. 

  
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 (d) In the event that the provision of any Service by Provider requires the cooperation and
services of applicable personnel of Recipient, Recipient will make available to Provider such personnel as may be necessary for Provider to provide such Service. Recipient will have the right, in its reasonable discretion, to (i) designate
which of its personnel it will make available to Provider in connection with the receipt of such Service, and (ii) remove and replace any such personnel, so long as there is no resulting increase in costs to Provider in providing such Service
or adverse effect on Provider’s ability to provide such Service; provided, however, that Recipient will use its commercially reasonable efforts to limit disruption of the provision of services by Provider in the transition of such
personnel. 
 Section 1.06 Changes to Services. It is understood and agreed that Provider may from time to time modify, change
or enhance the manner, nature and quality of any Service provided to Recipient to the extent Provider is making a similar change in the performance of such Services for Provider and its Subsidiaries; provided, however, that, except as
set forth in Section 1.05(b), any such modification, change or enhancement will not reasonably be expected to materially negatively affect such Services. Provider shall furnish to Recipient substantially the same notice (in content and
timing), if any, as Provider furnishes to its own organization with respect to such modifications, changes or enhancements. 

Section 1.07 Amendments to Schedule A. Each amendment to Schedule A, as agreed to in writing by the Parties, shall be
deemed part of this Agreement and any changes to the Services or other amendments set forth therein shall be subject to the terms and conditions of this Agreement. 

ARTICLE II 
 COMPENSATION; BILLING

 Section 2.01 Service Fees. In consideration for providing the Services, Provider will charge Recipient the fees indicated for
each Service listed on Schedule A (each, a “Service Fee” and collectively, the “Service Fees”). 

Section 2.02 Expenses. Except to the extent provided otherwise on Schedule A, in addition to the Service Fee, Provider
shall also be entitled to charge Recipient for any reasonable, documented, out-of-pocket costs and expenses incurred by Provider in providing the Services (“Expenses”). 

Section 2.03 Taxes. In addition to any amounts otherwise payable by Recipient pursuant to this Agreement, Recipient shall pay, be
responsible, and promptly reimburse Provider, for any sales, use, value added, goods and services, excise, transfer, recording or similar taxes, including any interest, penalties or additional amounts imposed with respect thereto, imposed with
respect to, or in connection with, the provision of Services or payment of any Service Fees hereunder. 
 Section 2.04 Payment of
Fees. No later than the first day of each calendar month, Recipient shall pay to Provider the Service Fees due for the upcoming month in accordance with Schedule A. Payments shall be made by check or wire transfer of immediately available
funds to one or more accounts specified in writing by Provider. 

  
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 Section 2.05 Payment of Expenses. Within thirty (30) days after the end of each
calendar month, Provider shall send Recipient an invoice that includes in reasonable detail the Expenses due in connection with the Services provided to Recipient. Payments of invoices shall be made by check or wire transfer of immediately available
funds to one or more accounts specified in writing by Provider. Payment shall be made within thirty (30) days after the date of receipt of Provider’s invoice. 

Section 2.06 Payment Delay; Finance Charges. 

(a) If Recipient fails to make any material payment within thirty (30) days of the date such payment was due to Provider, Provider shall
have the right, at its sole option, upon ten (10) days’ prior written notice (such notice, a “Suspension Notice”), to suspend performance of any Services until payment has been received. 

(b) If Recipient fails to make any payment within sixty (60) days of the date such payment was due to Provider, a finance charge of two
percent (2%) per month, payable from the date of the invoice to the date such payment is received and levied upon the balance of any such payment, shall be due and payable to Provider. In addition, Recipient shall indemnify Provider for its
costs, including reasonable attorneys’ fees and disbursements, incurred to collect any unpaid amount. 
 (c) Recipient shall not be
liable for the payment of any finance charges pursuant to this Section 2.06, and Provider shall not be authorized to suspend performance pursuant to this Section 2.06, to the extent, but only to the extent, that Recipient is
in good faith disputing Service Fees or Expenses incurred under Sections 2.01 and 2.02. 
 Section 2.07 No Right to
Set-Off. Recipient shall pay the full amount of all Service Fees and Expenses and shall not set off, counterclaim or otherwise withhold any amount owed to Provider under this Agreement on account of any obligation owed by Provider to Recipient.

 ARTICLE III 
 COOPERATION AND
CONSENTS 
 Section 3.01 General. Each Party shall reasonably cooperate with and provide assistance to the other Party in
carrying out the provisions of this Agreement. Such cooperation shall include, but not be limited to, exchanging information, responding to inquiries, making adjustments and, subject to Section 3.03, obtaining all consents, licenses,
sublicenses or approvals necessary to permit each Party to perform its obligations hereunder; provided, however, that neither Party shall be required to disclose privileged information to the other Party. 

Section 3.02 Transition. At the request of Recipient in contemplation of the termination of any Services hereunder, in whole or in
part, Provider shall cooperate with Recipient, at Recipient’s expense, in transitioning such Services to Recipient or to any third party service provider designated by Recipient. 

  
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 Section 3.03 Consents. Provider will take commercially reasonable efforts to obtain,
and to keep and maintain in effect, any third party licenses and consents necessary to provide the Services (the “Consents”). The costs relating to obtaining any such licenses or Consents obtained solely for the benefit of Recipient
shall be borne by Recipient; provided, however, that Provider shall not incur any such costs that are not contemplated by Schedule A or consistent with historical practice of the Parties without the prior written consent of
Recipient. If any such Consent is not obtained or maintained despite using commercially reasonable efforts to do so, Provider shall promptly notify Recipient in writing, and (i) Provider shall not be obligated under this Agreement to provide
Recipient access to or use of any third party software or services requiring such Consents or to provide any Services dependent upon such Consents until such Consents are obtained or maintained, and (ii) the Parties will reasonably cooperate
with one another to achieve a reasonable alternative arrangement with respect thereto as necessary. 
 ARTICLE IV 

CONFIDENTIALITY 

Section 4.01 Recipient Confidential Information. From and after the Effective Date, subject to Section 4.03, and
except as contemplated by or otherwise provided for under this Agreement or the Separation Agreement, Provider shall not, and shall cause its Affiliates and its own and its Affiliates’ officers, directors, employees, and other agents and
representatives, including attorneys, agents, customers, suppliers, contractors, consultants and other representatives or third parties providing Services pursuant to this Agreement (collectively, “Representatives”), to not,
directly or indirectly, disclose, reveal, divulge or communicate to any Person, other than to Recipient and its Affiliates (collectively, the “Recipient Group”) and their respective Representatives, and to Provider and its
Affiliates (collectively, the “Provider Group”) and their respective Representatives who reasonably need to know such information in connection with the provision of Services under this Agreement and who are informed of their
obligation to hold such information confidential to the same extent as is applicable to the Parties and in respect of whose failure to comply with such obligations, Recipient will be responsible, or use or otherwise exploit for its own benefit or
for the benefit of any third party (other than members of the Recipient Group), any Recipient Confidential Information (as defined below). 

For the purposes of this Agreement, “Group” shall mean the Provider Group or the Recipient Group, as the context requires. If
any disclosures are made by members of the Recipient Group to members of the Provider Group in connection with the provision of Services under this Agreement, then the Recipient Confidential Information so disclosed shall be used by the Provider
Group only as required to perform the Services or, if applicable, to the extent permitted by the Separation Agreement. Provider shall use the same degree of care to prevent and restrain the unauthorized use or disclosure of the Recipient
Confidential Information by any member of the Provider Group or its Representatives as it uses for its own confidential information of a like nature, but in no event less than a reasonable standard of care. For purposes of this Agreement, any
information, material or documents relating to the businesses currently or formerly conducted, or proposed to be conducted, by the Recipient Group that is furnished to, or in possession of, any member of the Provider Group, in each case in
connection with the Services provided under this Agreement and irrespective of the form of communication, and all notes, analyses, compilations, forecasts, data, translations, studies, memoranda or other documents prepared by members of the Provider
Group, that contain, or otherwise reflect, such 

  
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information, material or documents is hereinafter referred to as “Recipient Confidential Information.” Recipient Confidential Information does not include, and there shall be no
obligation hereunder, with respect to information that (i) is or becomes generally available to the public, other than as a result of a disclosure by a member of the Provider Group or its Representatives not otherwise permissible hereunder,
(ii) Provider can demonstrate was or became available to the Provider Group from a source other than the Recipient Group or its Representatives, or (iii) is developed independently by the Provider Group without reference to the Recipient
Confidential Information; provided, however, that, in the case of clause (ii), the source of such information was not known by Provider to be bound by a confidentiality or non-disclosure agreement with, or other contractual, legal or
fiduciary obligation of confidentiality to, any member of the Recipient Group with respect to such information. 
 Section 4.02
Provider Confidential Information. From and after the Effective Date, subject to Section 4.03, and except as contemplated by or otherwise provided for under this Agreement or the Separation Agreement, Recipient shall not, and
shall cause the members of the Recipient Group and their respective Representatives to not, directly or indirectly, disclose, reveal, divulge or communicate to any Person other than members of the Provider Group and its Representatives, or members
of the Recipient Group and its Representatives, who reasonably need to know such information in connection with the receipt of Services under this Agreement and who are informed of their obligation to hold such information confidential to the same
extent as is applicable to the Parties and in respect of whose failure to comply with such obligations, Provider will be responsible, or use or otherwise exploit for its own benefit or for the benefit of any third party (other than members of the
Provider Group), any Provider Confidential Information (as defined below). If any disclosures are made by members of the Provider Group to members of the Recipient Group in connection with the provision of Services under this Agreement, then the
Provider Confidential Information (as defined below) so disclosed shall be used by the Recipient Group only as required to receive the Services or, if applicable, to the extent permitted by the Separation Agreement. Recipient shall use the same
degree of care to prevent and restrain the unauthorized use or disclosure of the Provider Confidential Information by any member of the Recipient Group or its Representatives as it uses for its own confidential information of a like nature, but in
no event less than a reasonable standard of care. 
 For purposes of this Agreement, any information, material or documents relating to the
businesses currently or formerly conducted, or proposed to be conducted, by the Provider Group that is furnished to, or in possession of, any member of the Recipient Group, in each case in connection with the Services provided under this Agreement
and irrespective of the form of communication, and all notes, analyses, compilations, forecasts, data, translations, studies, memoranda or other documents prepared by members of the Recipient Group, that contain, or otherwise reflect, such
information, material or documents, is hereinafter referred to as “Provider Confidential Information,” and, together with the Recipient Confidential Information, “Confidential Information.” Provider Confidential
Information does not include, and there shall be no obligation hereunder with respect to, information that (i) is or becomes generally available to the public, other than as a result of a disclosure by any member of the Recipient Group or its
Representatives not otherwise permissible hereunder, (ii) Recipient can demonstrate was or became available to the Recipient Group from a source other than the Provider Group or its Representatives, or (iii) is developed independently by
the Recipient Group without reference to the Provider Confidential Information; provided, however, that, in the case of clause (ii), the 

  
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source of such information was not known by Recipient to be bound by a confidentiality or non-disclosure agreement with, or other contractual, legal or fiduciary obligation of confidentiality to,
any member of the Provider Group with respect to such information. 
 Section 4.03 Required Disclosure. Notwithstanding anything
to the contrary in Sections 4.01 and 4.02, in the event that any demand or request for disclosure of Confidential Information is made by judicial or administrative process or by other requirements of Law, the Party requested to
disclose Confidential Information concerning a member of the other Group shall (to the extent not prohibited by judicial or administrative process or by other requirements of Law) promptly notify such member of the other Group of the existence of
such request or demand and, to the extent commercially practicable, shall provide such member of the other Group thirty (30) days (or such lesser period as is commercially practicable) to seek an appropriate protective order or other remedy,
which the Parties will, at the expense of the requesting Party, cooperate in obtaining. In the event that such appropriate protective order or other remedy is not obtained, the Party that is required to disclose Confidential Information about a
member of the Group shall furnish, or cause to be furnished, only that portion of the Confidential Information that is legally required to be disclosed and shall use commercially reasonable efforts to ensure that confidential treatment is accorded
such information. 
 Section 4.04 Return or Destruction of Confidential Information. Upon the written request of a Party or a
member of its Group, except as contemplated by or otherwise provided for under the Separation Agreement, the other Party shall take, and shall cause the applicable members of its Group to take, reasonable steps to promptly (a) deliver to the
requesting Person all original copies of Confidential Information (whether written or electronic) concerning the requesting Person or any member of its Group that is in the possession of the other Party or any member of its Group and (b) if
specifically requested by the requesting Person, destroy any copies of such Confidential Information (including any extracts therefrom), unless such delivery or destruction would violate any Law; provided, however, that if Recipient
requests that Provider return or destroy Confidential Information concerning Recipient or any member of the Recipient Group, then Provider shall not be required to continue providing any Services to the extent Provider’s ability to provide such
Services is negatively impacted by its failure to no longer have possession of such Confidential Information. Upon the written request of the requesting Person, the other Party shall, or shall cause another member of its Group to cause, its duly
authorized officers to certify in writing to the requesting party that the requirements of the preceding sentence have been satisfied in full. 

ARTICLE V 
 INTELLECTUAL PROPERTY

 Section 5.01 Recipient Intellectual Property. Except as otherwise agreed by the Parties, all data, software, or other
property or assets owned or created by Recipient, including, without limitation, derivative works thereof, and new data or software created by Recipient at Recipient’s expense, in connection with its receipt of Services and all intellectual
property rights therein (the “Recipient Property”), shall remain the sole and exclusive property and responsibility of Recipient. Provider shall not acquire any rights in any Recipient Property pursuant to this Agreement. 

  
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 Section 5.02 Provider Intellectual Property. Except as otherwise agreed by the
Parties, all data, software or other property or assets owned or created by Provider, including, without limitation, derivative works thereof, and new data or software created by Provider at Provider’s expense, in connection with the provision
of Services and all intellectual property rights therein (the “Provider Property”), shall be the sole and exclusive property and responsibility of Provider. Recipient shall not acquire any rights in any Provider Property pursuant to
this Agreement. 
 ARTICLE VI 

LIMITED LIABILITY AND INDEMNIFICATION 

Section 6.01 Consequential and Other Damages. Notwithstanding anything to the contrary contained in the Separation Agreement or
this Agreement, no member of either Group or their Representatives shall be liable to any member of the other Group or its Representatives, whether in contract, tort (including negligence and strict liability) or otherwise, at law or equity, for any
special, indirect, incidental, punitive or consequential damages whatsoever (including lost profits or damages calculated on multiples of earnings approaches), which in any way arise out of, relate to or are a consequence of, the performance or
nonperformance of any Services under this Agreement, including with respect to business interruptions or claims of customers. 

Section 6.02 Limitation of Liability. Subject to any obligations to reperform any Services as set forth in
Section 6.03, the maximum amount of the Losses of each member of the Provider Group and its Representatives, collectively, under this Agreement for any act or failure to act in connection herewith (including the performance or breach of
this Agreement), or from the sale, delivery, provision or use of any Services provided under or contemplated by this Agreement, whether in contract, tort (including negligence and strict liability) or otherwise, shall not exceed the total aggregate
Service Fees (excluding any Expenses or other third-party costs) actually paid to Provider by Recipient pursuant to this Agreement. 

Section 6.03 Obligation To Reperform; Liabilities. In the event of any breach of this Agreement by any member of the Provider
Group (or any third parties providing Services under this Agreement) with respect to the provision of any Services (with respect to which the Provider can reasonably be expected to reperform in a commercially reasonable manner), the Provider shall
(a) promptly correct or cause to be corrected in all material respects such error, defect or breach or reperform in all material respects such Services at the request of Recipient and at the sole cost and expense of the Provider and
(b) subject to the limitations set forth in Sections 6.01 and 6.02, reimburse Recipient for Liabilities attributable to such breach by such member of the Provider Group (or any third parties providing Services under this
Agreement). The remedy set forth in this Section 6.03 shall be the sole and exclusive remedy of Recipient for any such breach of this Agreement. Any request for reperformance in accordance with this Section 6.03 by Recipient
must be in writing and specify in reasonable detail the particular breach, and such request must be made no more than one (1) month from the date such breach occurred. 

Section 6.04 Release and Recipient Indemnity. Subject to Section 6.01, Recipient, on behalf of itself and its
Affiliates, Representatives or other Persons using such Services, hereby releases each member of the Provider Group and its Representatives (each, a “Provider Indemnified Party”), and Recipient hereby agrees to indemnify, defend and
hold harmless each such Provider Indemnified Party from and against any and all Losses arising from, relating to or 

  
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in connection with the use of any Services by Recipient or any of its Affiliates, Representatives or other Persons using such Services, except to the extent such Losses arise out of, relate to or
are a consequence of Provider’s recklessness or willful misconduct. 
 Section 6.05 Provider Indemnity. Subject to
Section 6.01, Provider hereby agrees to indemnify, defend and hold harmless each member of the Recipient Group and its Representatives (each a “Recipient Indemnified Party”), from and against any and all Losses arising
from, relating to or in connection with the sale, delivery, provision or use of any Services provided under or contemplated by this Agreement to the extent that such Losses arise out of, relate to or are a consequence of Provider’s recklessness
or willful misconduct. 
 Section 6.06 Indemnification Procedures. The provisions of Section 9.4 of the Separation
Agreement shall govern claims for indemnification under this Agreement. 
 Section 6.07 Liability for Payment Obligations.
Nothing in this Article VI shall be deemed to eliminate or limit, in any respect, Recipient’s express obligation to pay the Service Fees, Expenses and other amounts in accordance with this Agreement. 

Section 6.08 Exclusion of Other Remedies. Except for the provisions of Section 2.06(b), Sections 6.03,
6.04, 6.05 and 6.06 of this Agreement shall be the sole and exclusive remedies of the Provider Indemnified Parties and the Recipient Indemnified Parties, as applicable, for any Losses arising pursuant to this Agreement. 

ARTICLE VII 
 INDEPENDENT
CONTRACTOR 
 In performing the Services hereunder, each Group shall operate as, and have the status of, an independent contractor. No
Party’s employees shall be considered employees or agents of the other Party, nor shall the employees of either Party be eligible or entitled to any benefits, perquisites, or privileges given or extended to any of the other Party’s
employees. Nothing contained in this Agreement shall be deemed or construed to create a joint venture or partnership between the Parties. No Party shall have any power or authority to bind or commit any other Party. 

ARTICLE VIII 
 COMPLIANCE WITH LAWS

 In the performance of its duties and obligations under this Agreement, each Party shall comply with all applicable laws. The Parties
shall cooperate fully in obtaining and maintaining in effect all permits and licenses that may be required for the performance of the Services. 

ARTICLE IX 
 TERM AND TERMINATION

 Section 9.01 Term. 

  
 9 

 (a) The term of this Agreement shall commence on the Effective Date and end on March 31,
2016 (the “Termination Date”), or such earlier date, if any, upon which this Agreement is terminated in accordance with Section 9.02. 

(b) Except as may be otherwise set forth on Schedule A, and subject to the last proviso of Section 1.03, Recipient may
terminate any Service prior to the scheduled expiration date by giving Provider not less than thirty (30) days’ prior written notice, or such less time as may be agreed upon by the Parties. Recipient or Provider may terminate any Service
for which a Specified Person is listed on Schedule A at any time after such Specified Person ceases to be employed by Provider or one its Subsidiaries or goes on a leave of absence; provided, however, that if during the term
that the applicable Service is being provided pursuant to this Agreement, Provider receives advance notice that a Specified Person will cease to be employed by Provider or one of its Subsidiaries or will be going on a leave of absence, Provider will
promptly provide such notice thereof to Recipient. Except as set forth in the immediately preceding sentence, Services can only be terminated at month-end. To the extent there are any break-up costs (including commitments made to, or in respect of,
personnel or third parties due to the requirement to provide the Services, prepaid expenses related to the Services or costs related to terminating such commitments) reasonably incurred by Provider as a result of any early termination of a Service
by Recipient, Provider shall use its reasonable best efforts to mitigate such costs, and Recipient shall bear such costs and reimburse Provider in full for the same. 

Section 9.02 Termination of this Agreement. This Agreement may be terminated: 

(a) by the written agreement of the Parties; 

(b) by Provider in the event that it delivers a Suspension Notice to Recipient and suspends delivery of a Service in accordance with
Section 2.06(a), and such Suspension Notice is not satisfied within thirty (30) days of the date of delivery of such Suspension Notice; 

(c) by either Party upon a material breach (other than non-payment of Service Fees or Expenses) by the other Party that is not cured (or
reperformed in accordance with Section 6.03) within thirty (30) days after delivery of written notice of such breach from the non-breaching Party; 

(d) by either Party in the event that the other Party shall (i) file a petition in bankruptcy, (ii) become or be declared insolvent,
or become the subject of any proceedings (not dismissed within sixty (60) calendar days) related to its liquidation, insolvency or the appointment of a receiver, (iii) make an assignment on behalf of all or substantially all of its
creditors, (iv) take any corporate action for its winding up or dissolution; 
 (e) by either Party, upon a Change in Control (as
defined below) of the other Party. For the purposes of this Agreement, “Change in Control” shall mean, with respect to a Party, the occurrence after the Effective Time of any of the following: (i) the sale, conveyance or
disposition, in one or a series of related transactions, of all or substantially all of the assets of such Party and its Group (taken as a whole) to a third party that is not a member of such Party’s Group prior to such transaction or the first
of such related transactions; (ii) the consolidation, 

  
 10 

 
merger or other business combination of a Party with or into any other Person, immediately following which the then-current shareholders of the Party, as such, fail to own, in the aggregate, at
least majority voting power of the surviving Party in such consolidation, merger or business combination, or of its ultimate publicly traded parent; (iii) a transaction or series of transactions in which any Person or “group” (as the
term “group” is used in Sections 13(d) and 14(d) of the United States Securities Exchange Act of 1934, as amended, together with the rules and regulations promulgated thereunder) acquires majority voting power of such Party (other than a
reincorporation or similar corporate transaction in which each of such Party’s shareholders owns, immediately thereafter, interests in the new parent company in substantially the same percentage as such shareholder owned in such Party
immediately prior to such transaction); or (iv) a majority of the board of directors of such Party ceases to consist of individuals who have become directors as a result of being nominated or elected by a majority of such Party’s
directors; or 
 (f) by either Party if all of the Services have been terminated early in accordance with Section 9.01(b). 

Section 9.03 Effect. In the event of termination of this Agreement in its entirety pursuant to this Article IX, or
upon the Termination Date, this Agreement shall cease to have further force or effect, and neither Party shall have any liability to the other Party with respect to this Agreement; provided that: 

(a) termination or expiration of this Agreement for any reason shall not release a Party from any liability or obligation, including the
requirement to pay Service Fees or Expenses, that already has accrued as of the effective date of such termination or expiration, and shall not constitute a waiver or release of, or otherwise be deemed to adversely affect, any rights, remedies or
claims which a Party may have hereunder at law, equity or otherwise or which may arise out of or in connection with such termination or expiration; 

(b) as promptly as practicable, following termination of this Agreement in its entirety or with respect to any Service to the extent
applicable, and the payment by Recipient of all amounts owing hereunder, Provider shall return all reasonably available material, inventory and other property of Recipient held by Provider, and shall deliver copies of all of Recipient’s records
maintained by Provider with regard to the Services in Provider’s standard format and media. Provider shall deliver such property and records to such location or locations, as reasonably requested by Recipient. Arrangements for shipping,
including the cost of freight and insurance, and the reasonable cost of packing incurred by Provider shall be borne by Recipient; and 
 (c)
Articles IV, V, VI, VII, X and XI, and this Section 9.03, shall survive any termination or expiration of this Agreement and remain in full force and effect. 

ARTICLE X 
 DISPUTE RESOLUTION 

Section 10.01 Dispute Resolution. The provisions of Sections 10.1 – 10.3 of the Separation Agreement shall apply, mutatis
mutandis, to all disputes, controversies or claims (whether arising in contract, tort or otherwise) that may arise out of or relate to, or arise under or in connection with this Agreement or the transactions contemplated hereby. 

  
 11 

 Section 10.02 Waiver of Jury Trial. EACH PARTY IRREVOCABLY AND ABSOLUTELY WAIVES THE
RIGHT TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING BROUGHT BY A PARTY TO COMPEL THE DISPUTE RESOLUTION PROCEDURES PROVIDED IN THIS ARTICLE X AND THE ENFORCEMENT OF ANY AWARDS OR DECISION OBTAINED FROM SUCH ARBITRATION PROCEEDING, AND
AGREES TO TAKE ANY AND ALL ACTION NECESSARY OR APPROPRIATE TO EFFECT SUCH WAIVER. 
 ARTICLE XI 

MISCELLANEOUS 
 Section 11.01
Further Assurances. From time to time, each Party agrees to execute and deliver such additional documents, and will provide such additional information and assistance as either Party may reasonably require to carry out the terms of this
Agreement. 
 Section 11.02 Amendments and Waivers. 

(a) No provision of this Agreement, including Schedule A, may be amended except by an agreement in writing signed by both Parties. 

(b) Any term or provision of this Agreement may be waived, or the time for its performance may be extended, by the Party or the Parties
entitled to the benefit thereof. Any such waiver shall be validly and sufficiently given for the purposes of this Agreement if, as to any Party, it is executed by a writing signed by an authorized representative of such Party. Waiver by any Party of
any default by the other Party of any provision of this Agreement shall not be construed to be a waiver by the waiving Party of any subsequent or other default, nor shall it in any way affect the validity of this Agreement or prejudice the rights of
the other Party, thereafter, to enforce each and every such provision. No failure or delay by any Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof
preclude any other or further exercise thereof, or the exercise of any other right, power or privilege. The rights and remedies hereunder are cumulative and not exclusive of any rights or remedies that either Party would otherwise have. 

Section 11.03 Entire Agreement. This Agreement and Schedule A hereto, as well as any other agreements and documents
referred to herein (including the Separation Agreement and the agreements contemplated thereby, to the extent applicable), constitute the entire agreement between the Parties with respect to the subject matter hereof, and supersede all previous
agreements, negotiations, discussions, understandings, writings, commitments and conversations between the Parties with respect to such subject matter. No agreements or understandings exist between the Parties with respect to the subject matter
hereof other than those set forth or referred to herein. 
 Section 11.04 Third Party Beneficiaries. Except for the
indemnification provisions in Article VI, this Agreement is for the sole benefit of the Parties and their successors and assigns, and nothing herein, express or implied, is intended to or shall confer upon any other Person or entity any
legal or equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Agreement. 

  
 12 

 Section 11.05 Notices. All notices, demands and other communications required to be
given to a Party hereunder shall be in writing and shall be personally delivered, sent by a nationally recognized overnight courier, or mailed by registered or certified mail (postage prepaid, return receipt requested) to such Party at the relevant
street address set forth below (or at such other street address as such Party may designate from time to time by written notice in accordance with this provision): 

If to Provider, to: 
 Inland
American Real Estate Trust, Inc. 
 2809 Butterfield Road 

Oak Brook, Illinois 60523 

Attention: President and Chief Executive Officer 

If to Recipient, to: 
 Xenia
Hotels & Resorts, Inc. 
 200 S. Orange Avenue, Suite 1200 

Orlando, Florida 32801 

Attention: President and Chief Executive Officer 

Notice by courier or certified or registered mail shall be effective on the date it is officially recorded as delivered to the intended
recipient by return receipt or similar acknowledgment. All notices and communications delivered in person shall be deemed to have been delivered to and received by the addressee, and shall be effective, on the date of personal delivery. 

Section 11.06 Counterparts; Electronic Delivery. This Agreement may be executed in one or more counterparts, each of which, when
so executed and delivered or transmitted by facsimile, e-mail or other electronic means, shall be deemed to be an original, and all of which taken together shall constitute but one and the same instrument. Execution and delivery of this Agreement or
any other documents pursuant to this Agreement by facsimile or other electronic means shall be deemed to be, and shall have the same legal effect as, execution by an original signature and delivery in person. 

Section 11.07 Severability. If any term or other provision of this Agreement or the Schedules attached hereto or thereto is
determined by a nonappealable decision by a court, administrative agency or arbitrator to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall
nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to either Party. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the court, administrative agency or arbitrator shall interpret this Agreement so as to affect the original intent of the Parties as closely as possible in an acceptable manner to the

  
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end that the transactions contemplated hereby are fulfilled to the fullest extent possible. If any sentence in this Agreement is so broad as to be unenforceable, the provision shall be
interpreted to be only as broad as is enforceable. 
 Section 11.08 Assignability. This Agreement shall be binding upon and
inure to the benefit of the Parties, and their respective successors and permitted assigns; provided, however, that, except as provided in Section 1.04 and other provisions herein allowing Provider to delegate its
obligations hereunder to third parties, no Party may assign, delegate or transfer (by operation of law or otherwise) its respective rights, or delegate its respective obligations, under this Agreement without the express prior written consent of the
other Party. Notwithstanding the foregoing, either Party may assign its rights and obligations under this Agreement to (i) any member of such Party’s Group; provided, however, that each Party shall at all times remain liable
for the performance of its obligations under this Agreement by any such Group member, or (ii), subject to Provider’s right to terminate this Agreement pursuant to Section 9.01(e) hereof, any successor by merger, consolidation,
reorganization, recapitalization, acquisition or person acquiring all or substantially all of the assets of such Party pursuant to a Change of Control, provided, however, that such successor shall assume all obligations of such under
this Agreement. Any attempted assignment or delegation in violation of this Section 11.08 shall be null and void. 

Section 11.09 Governing Law. This Agreement, and the legal relations between the Parties hereto, shall be governed by and
construed in accordance with the laws of the State of Delaware, without regard to the conflict of laws rules thereof, to the extent such rules would require the application of the law of another jurisdiction. 

Section 11.10 Disclaimer of Representations and Warranties. 

(a) It is understood and agreed that the employees of Provider and the other members of the Provider Group performing the Services are not
professional providers to third parties of the types of services included in the Services and that some or all of the Provider Group employees performing Services may have other responsibilities and may not be dedicated full-time to performing
Services hereunder. EXCEPT FOR THE REPRESENTATIONS, WARRANTIES AND COVENANTS EXPRESSLY MADE IN THIS AGREEMENT, PROVIDER HAS NOT MADE, AND DOES NOT HEREBY MAKE, ANY EXPRESS OR IMPLIED REPRESENTATIONS, WARRANTIES OR COVENANTS, STATUTORY OR OTHERWISE,
OF ANY NATURE, INCLUDING WITH RESPECT TO THE WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, QUALITY, QUANTITY, SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE. ALL OTHER REPRESENTATIONS, WARRANTIES, AND COVENANTS, EXPRESS OR IMPLIED,
STATUTORY, COMMON LAW OR OTHERWISE, OF ANY NATURE, INCLUDING WITH RESPECT TO THE WARRANTIES OF MERCHANTABILITY, QUALITY, QUANTITY, SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE ARE HEREBY DISCLAIMED. 

(b) Without limiting the generality of any other provision hereof, it is not the intent of any member of the Provider Group (or their
Affiliates) to render professional advice or opinions, whether with regard to tax, legal, treasury, finance, intellectual property, employment or other matters; Recipient shall not rely on any Service provided by (or caused to be provided

  
 14 

 
by) Provider for such professional advice or opinions; and notwithstanding Recipient’s receipt of any proposal, recommendation or suggestion in any way relating to tax, legal, treasury,
finance, intellectual property, employment or any other subject matter, Recipient shall seek all third-party professional advice and opinions as it may desire or need; and, with respect to any software or documentation provided in connection with
the Services, Recipient shall use such software and documentation internally and for their intended purpose only, shall not distribute, publish, transfer, sublicense or in any manner make such software or documentation available to other
organizations or persons, and shall not act as a service bureau or consultant in connection with such software. 
 (c) A material inducement
to the provision of Services is the limitation of liability, damages and recourse set forth herein and the release and indemnity provided by Recipient. 

Section 11.11 Force Majeure. 

(a) Neither Party (nor any Person acting on its behalf) shall have any liability or responsibility for failure to fulfill any obligation
(other than a payment obligation) under this Agreement so long as, and to the extent to which, the fulfillment of such obligation is prevented, frustrated, hindered or delayed as a consequence of circumstances of Force Majeure; provided that
(i) such Party (or such Person) shall have exercised commercially reasonable efforts to minimize the effect of Force Majeure on its obligations, and (ii) the nature, quality and standard of care that Provider shall provide in delivering a
Service after a Force Majeure shall again comply with Section 1.02. In the event of an occurrence of a Force Majeure, the Party whose performance is affected thereby shall give notice of suspension as soon as reasonably practicable to
the other stating the date and extent of such suspension and the cause thereof, and such Party shall resume the performance of such obligations as soon as reasonably practicable after the removal of such cause. 

(b) During the period of a Force Majeure impacting Provider, Recipient shall be entitled to seek an alternative service provider with respect
to such Service(s) (and shall be relieved of the obligation to pay Service Fees for such Service(s) throughout the duration of such Force Majeure) and shall be entitled to permanently terminate such Service(s) if a Force Majeure shall
continue to exist for more than sixty (60) consecutive days, it being understood that Recipient shall provide advance notice of such termination to Provider. 

(c) For purposes of this Agreement “Force Majeure” means with respect to a Party, an event beyond the control of such Party
(or any Person acting on its behalf), which by its nature could not have been reasonably foreseen by such Party (or such Person), or, if it could have been reasonably foreseen, was unavoidable, and includes acts of God, storms, floods, riots, fires,
sabotage, civil commotion or civil unrest, interference by civil or military authorities, acts of war (declared or undeclared) or armed hostilities or other national or international calamity or one or more acts of terrorism or failure of energy
sources or distribution facilities. Notwithstanding the foregoing, the receipt by a Party of an unsolicited takeover offer or other acquisition proposal, even if unforeseen or unavoidable, and such Party’s response thereto shall not be deemed
an event of Force Majeure. 

  
 15 

 Section 11.12 Construction and Interpretation. 

(a) This Agreement shall be construed as if jointly drafted by the Parties and no rule of construction strict interpretation shall be applied
against either Party. The Parties represent that this Agreement is entered into with full consideration of any and all rights which the Parties may have. The Parties have relied upon their own knowledge and judgment. The Parties have conducted such
investigations they thought appropriate, and have consulted with such advisors as they deemed appropriate regarding this Agreement and their rights and asserted rights in connection therewith. The Parties are not relying upon any representations or
statements made by the other Party, or such other Party’s employees, agents, representatives or attorneys, regarding this Agreement, except to the extent such representations are expressly set forth or incorporated in this Agreement. The
Parties are not relying upon a legal duty, if one exists, on the part of the other Party (or such other Party’s employees, agents, representatives or attorneys) to disclose any information in connection with the execution of this Agreement or
their preparation, it being expressly understood that neither Party shall ever assert any failure to disclose information on the part of the other Party as a ground for challenging this Agreement. 

(b) If there is any conflict between the provisions of this Agreement and the Separation Agreement, the provisions of this Agreement shall
control (but only with respect to the subject matter hereof) unless explicitly stated otherwise herein. If there is any conflict between the provisions of the main body of this Agreement and any Schedule to this Agreement, the provisions of the main
body of this Agreement shall control unless explicitly stated otherwise herein. 
 (c) References in this Agreement to any gender include
references to all genders, and references to the singular include references to the plural and vice versa. Unless the context otherwise requires, the words “include,” “includes” and “including” when used in this
Agreement shall be deemed to be followed by the phrase “without limitation.” Unless the context otherwise requires, references in this Agreement to Articles, Sections and Exhibits shall be deemed references to Articles and Sections of, and
Exhibits to, this Agreement. Unless the context otherwise requires, the words “hereof,” “hereby” and “herein” and words of similar meaning when used in this Agreement refer to this Agreement in its entirety and not to
any particular Article, Section or provision of this Agreement. 
 Section 11.13 Titles and Headings. Titles and headings to
Sections and Articles are inserted for the convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement 

Section 11.14 Schedules. The Schedules attached hereto are incorporated herein by reference and shall be construed with and as an
integral part of this Agreement to the same extent as if the same had been set forth verbatim herein. 
 Section 11.15 Specific
Performance. Subject to the provisions of Article X, from and after the Distribution, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the Parties agree that
the Party to this Agreement who is or is to be thereby aggrieved shall have the right to seek specific performance and injunctive or other equitable relief of its rights under this Agreement, in addition to any and

  
 16 

 
all other rights and remedies at Law or in equity, and all such rights and remedies shall be cumulative. The Parties agree that, from and after the Distribution, the remedies at Law for any
breach or threatened breach of this Agreement, including monetary damages, may be inadequate compensation for any loss, that any defense in any action for specific performance that a remedy at Law would be adequate is hereby waived, and that any
requirements for the securing or posting of any bond with such remedy are hereby waived. 
 Section 11.16 Limited Liability.
Notwithstanding any other provision of this Agreement, no Specified Person, person designated as the coordinator of Services pursuant to Section 1.05(a) or other individual who is a shareholder, director, employee, officer, agent or
representative of Provider or Recipient, in such individual’s capacity as such, shall have any liability in respect of or relating to the covenants or obligations of Provider or Recipient, as applicable, under this Agreement or in respect of
any certificate delivered with respect hereto or thereto and, to the fullest extent legally permissible, each of Provider or Recipient, for itself and its respective Subsidiaries and its and their respective shareholders, directors, employees and
officers, waives and agrees not to seek to assert or enforce any such liability that any such Person otherwise might have pursuant to applicable law. 

[SIGNATURES APPEAR ON THE FOLLOWING PAGE] 

  
 17 

 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly
authorized officers or representatives as of the date first written above. 
  

			
	INLAND AMERICAN REAL ESTATE TRUST, INC.
		
	 By:
	 	  

		 	Name:
		 	Title:
	
	 XENIA HOTELS & RESORTS, INC.

		
	 By:
	 	  

		 	Name:
		 	Title:EX-10.3

 Exhibit 10.3 

EXECUTIVE EMPLOYMENT AGREEMENT 

This Executive Employment Agreement (this “Agreement”), dated as of July 1, 2014, is entered into by and among IA
Lodging Group, Inc. (“Inland Lodging”), IA Lodging Management LLC (“Inland Management” and together with Inland Lodging, the “Company”) and Marcel Verbaas (“Executive”). 

RECITALS: 

WHEREAS, Inland Management desires to employ Executive in the position of President and Chief Executive Officer; and 

WHEREAS, this Agreement sets forth the terms and conditions of the employment relationship between the Company and Executive.

 NOW, THEREFORE, in consideration of the covenants herein contained and the employment of Executive and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 
 1. Start Date;
Position. The Company will employ Executive as its President and Chief Executive Officer, beginning on or about February 1, 2014 (the actual first day of active employment being, the “Start Date”). The principal
location of Executive’s employment shall be at the Company’s office located in Orlando, Florida, although Executive understands and agrees that he will be required to travel from time to time for business reasons. Executive agrees to
devote his full working time and attention to the Company and to act at all times in the best interests of the Company. Executive will have such duties, responsibilities and authority as are consistent with his position. Prior to a Triggering Event,
Executive shall report to the highest ranking executive officer of Inland American Real Estate Trust, Inc. (“Inland REIT”). After a Triggering Event, Executive shall report to the board of directors of Inland Lodging. Executive
agrees to perform his duties and responsibilities to the Company faithfully, competently, diligently and to the best of his ability, and subject to, and in accordance with, all of the policies, rules and regulations from time to time applicable to
employees of the Company or Inland REIT. Executive further agrees to execute any additional documents as the Company or Inland REIT may from time to time request him and other similarly situated executives to sign regarding such policies, rules and
regulations of the Company or Inland REIT, provided that any such additional documents shall not be inconsistent with the terms of this Agreement.  

2. Compensation and Benefits. 

(a) Base Salary. During the “Term” (as defined in Section 3 below), the Company will pay to Executive a base
salary at a rate of $615,000 per annum, which may be reviewed and increased (but not decreased) from time to time in the normal course of business (such annual salary, as in effect from time to time, to be referred to herein as “Base
Salary”). Notwithstanding the foregoing, in the event of a Qualified Event, the Board shall review and consider an adjustment to Executive’s then-current Base Salary to make Executive’s Base Salary consistent with the market
median of the base salaries paid to comparably situated highest level 

 
executive officers of publicly traded real estate investment trusts in the lodging industry similar in size to Inland Lodging. Executive’s Base Salary will be payable in accordance with the
Inland REIT’s normal payroll practices prior to a Triggering Event and the Company’s normal payroll practices following a Triggering Event. 

(b) Annual Performance Bonus. For the period from January 1, 2014 through December 31, 2014 and during each subsequent
twelve (12)-month period while Executive remains employed with the Company (each, a “Performance Period”), Executive will be eligible to receive an annual performance bonus award payable in cash in an amount determined by the Board,
or a committee thereof, based upon the achievement of performance criteria mutually agreed upon by the Board and Executive with respect to such twelve (12)-month period (the “Annual Bonus”). The bonus program to be established by
the Board will include threshold, target and maximum levels. Executive will be eligible to receive an annual target bonus no less than one hundred and twenty-five percent (125%) of his Base Salary (“Target Bonus”) with
threshold and maximum bonus levels to be determined on an annual basis, with the actual bonus that becomes payable to be based on the actual achievement of the applicable performance criteria as determined by the Board or a committee thereof. In the
event of the occurrence of a Triggering Event during a Performance Period, Executive will be eligible to receive an Annual Bonus equal to the target Annual Bonus for the year in which the Triggering Event occurs, pro-rated for the portion of the
Performance Period that elapsed prior to the occurrence of the Triggering Event. Any Annual Bonus shall be paid to Executive in a lump sum as soon as reasonably practicable, but in no event later than March 15, following the end of the
applicable fiscal year. 
 (c) Equity Compensation – Long Term Incentives. 

(i) Annual Long-Term Incentive Award. Upon execution of this Agreement, Executive will be granted within thirty (30) days of the
date of this Agreement (the “Initial Share Unit Grant Date”) and subject to subsection (iii) below, an award of 150,000 units (“Share Units”) having an aggregate value equal to $1,500,000, and in each
subsequent calendar year after execution of this Agreement, and no later than March 15 of that year, Executive will be granted an award of a number of Share Units having an aggregate value equal to no less than 244% of Executive’s Base
Salary in that year (together, the “Annual Grant Share Units”, and the date of each such grant, together with the Initial Share Unit Grant Date, the “Annual Share Unit Grant Date”), with the number of Share Units
subject to each subsequent year grant determined by dividing such amount by the Fair Market Value of a Share Unit on the date of grant. The Annual Grant Share Units will vest and settle on the later to occur of (i) the date there first occurs a
Triggering Event and (ii) the third anniversary of the Initial Share Unit Grant Date or the Annual Share Unit Grant Date, as applicable, subject to Executive’s continued employment through the applicable settlement date, provided that, in
no event will the Annual Grant Share Units vest or be settled unless a Triggering Event occurs no later than the fifth (5th) anniversary of the Initial Share Unit Grant Date and, provided, further, that (a) in the event the Triggering
Event to occur is a Qualified Event, the Annual Grant Share Units will be settled in Shares (for that number of Shares having an aggregate value on the applicable settlement date equal to the Fair Market Value of the Annual Grant Share Units on the
applicable settlement date) and (b) in the event the Triggering Event to occur is a Change in Control, the Annual Grant Share Units will be settled in cash in an amount equal to the aggregate Fair Market Value of the

  
 2 

 
Annual Grant Share Units (determined as of the date of such Change in Control), provided, however, that if the acquiring entity is a publicly traded company and the Annual Grant Share Units are
converted into share units or other form of equity award of such acquiring entity at the time of the Change in Control, then the Annual Grant Share Units will be settled in shares of the acquiring entity, in either case on the applicable settlement
date. Notwithstanding the foregoing, if Executive’s employment is terminated without Cause or Executive terminates his employment for Good Reason, following the occurrence of a Triggering Event or during the Pre-CIC Period (as defined in
Section 4), to the extent not already vested, the Annual Grant Share Units will vest in full and be settled on the date of such termination. 

Notwithstanding anything to the contrary in this Agreement, prior to a Triggering Event, if a portion of the real estate portfolio of Inland Lodging is listed
on a public exchange, merged into another company, or sold, the Board shall consider vesting Executive with and settlement of a portion of the Share Units described in this Section 2(c)(i) and any subsequent awards granted pursuant to the
applicable equity incentive plan of the Company on the date of the listing or consummation of merger or sale as applicable. 
 (ii)
Triggering Event Contingency Award. Upon execution of this Agreement by both parties, Executive will be granted within thirty (30) days of the date of this Agreement (the actual date of grant, the “Contingency Share Unit Grant
Date”), and subject to subsection (iii) below, 150,000 Share Units having an aggregate value equal to $1,500,000 (the “Contingency Share Units”). With regard to vesting (i) if the Triggering Event is a Qualified
Event, the Contingency Share Units will vest and settle in three equal installments on each of the first three anniversaries of the Triggering Event, subject to Executive’s continued employment through each such anniversary date and
(ii) if the Triggering Event is a Change in Control, 100% of the Contingency Share Units will vest and settle on the one-year anniversary of the Triggering Event, subject to Executive’s continued employment through such one-year
anniversary date of the Change in Control, provided that, in no event will the Contingency Share Units vest or be settled unless a Triggering Event occurs no later than the fifth (5th) anniversary of the Contingency Share Unit Grant Date and,
provided, further, that (a) in the event the Triggering Event is a Qualified Event, the Contingency Share Units will be settled in Shares (for that number of Shares having an aggregate value equal to the Fair Market Value of the Contingency
Share Units) on the applicable settlement date and (b) in the event the Triggering Event is a Change in Control, the Contingency Share Units will be settled in cash in an amount equal to the Fair Market Value of the Contingency Share Units
(determined as of the date of such Change in Control), provided, however, that if the acquiring entity is a publicly traded company and the Contingency Share Units are converted into share units or other form or equity award of such acquiring entity
at the time of the Change in Control, then the Contingency Share Units will be settled in shares of the acquiring entity, in either case on the applicable settlement date. Notwithstanding the foregoing, if Executive’s employment is terminated
without Cause or Executive terminates his employment for Good Reason, in either case, following the occurrence of a Triggering Event or during the Pre-CIC Period, to the extent not already vested, the Contingency Share Units will vest in full and be
settled on the date of such termination. 
 (iii) Notwithstanding anything to the contrary in this Agreement, the number of Share Units
granted to Executive as set forth in this Section 2(c) shall be subject to adjustments as determined necessary by the Board to prevent dilution or enlargement of value as a result of intercompany transfers of cash or assets between Inland
Lodging and one or more of its Affiliates for no consideration or other such similar transactions. 

  
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 (iv) After a Qualified Event, each grant of Share Units under subsections 2(c)(i) and
(ii) above will provide for accrual of dividend equivalents until the settlement date of the Share Units. As of each dividend date with respect to shares of common stock of Inland Lodging (“Common Stock”), a dollar amount shall
accrue to Executive equal to the amount of the dividend that would have been paid on the number of shares of Common Stock that would have been held by the Executive as of the close of business on the record date for such dividend had such Share
Units been converted on such date into the number of whole and fractional shares of Common Stock that could have been purchased at the closing price on the dividend payment date for an amount equal to the Fair Market Value of such Share Units. In
the case of any dividend declared on shares of Common Stock that is payable in shares of Common Stock, Executive will be credited with an additional number of Share Units equal to the number having a Fair Market Value equal to the Fair Market Value
of the shares of Common Stock (including any fraction thereof) that would have been distributable to Executive as a dividend had his Share Units been converted into the number of whole and fractional shares of Common Stock that could have been
purchased at the closing price on the dividend payment date for an amount equal to the Fair Market Value of such Share Units. No dividend equivalents shall be paid out to Executive unless and until the Share Units to which the dividend equivalents
relate have become vested and settled. 
 (d) Employee Benefits. Executive is also eligible for the benefit plans and
employment policies offered by Inland Management, or by Inland REIT prior to a Triggering Event, to other senior level executives, under the same terms and conditions offered to senior level executives, subject to and on a basis consistent with the
terms, conditions, and overall administration of such benefit plans. During the Term, Executive will accrue vacation with pay at an annual accrual rate consistent with Inland Management’s or Inland REIT’s policy in effect from time to
time. 
 (e) Reservation of Rights. Notwithstanding the foregoing, Inland Management following a Triggering Event, or Inland
REIT prior to a Triggering Event, may change, amend, or discontinue any employee benefit plans and policies at any time in its sole discretion. 

(f) Business Expenses. The Company shall reimburse Executive for reasonable business expenses incurred by Executive on Company
business, pursuant to Inland Management’s following a Triggering Event, or Inland REIT’s prior to a Triggering Event, standard expense reimbursement policy as in effect from time to time. 

3. Term; Termination of Employment. The term of this Agreement (the “Term”) begins on the Start Date and will
end, along with Executive’s employment with Inland Management, on the earliest to occur of the following events. 

  
 4 

 (a) Notice by Executive. Executive can terminate his employment and the Term with
Good Reason in accordance with the notice requirement under the definition of Good Reason under Section 11(g) of this Agreement or without Good Reason by providing 60 days advance written notice to the Company of such intent, with the last day
of Executive’s employment being the end of such 60-day notice period. The Company can elect, in its sole discretion, to have Executive continue to provide services to the Company during some, all or none of such notice period and can elect, in
its sole discretion, whether such services will be performed on or off Company premises. 
 (b) Notice by the Company without
Cause. Inland Management can terminate Executive’s employment and the Term without Cause by providing 60 days’ advance written notice to Executive of such intent, with the last day of Executive’s employment being the end of
such 60- day notice period. At Inland Management’s option, it may place Executive on a paid leave of absence for all or part of such notice period. 

(c) Termination For Cause. Inland Management can terminate Executive’s employment and the Term immediately upon
notice to him if such termination of employment is for Cause. 
 (d) Other Reasons. Executive’s employment
and the Term will be terminated upon Executive’s death or Executive becoming Disabled.  
 (e) Certain Payments.
Upon Executive’s termination of employment for any reason, the Company will pay to Executive (a) Executive’s earned but unpaid Base Salary through the effective date of the termination and (b) any other amounts due to
Executive from the Company or any of its Affiliates thereof as of the effective date of the termination, such as approved, unreimbursed business expenses and accrued and unused vacation. Executive’s participation in employee benefit plans of
Inland Management or Inland REIT will be governed by the terms of those plans then in effect. 
 4. Severance. 

 (a) Termination Without Cause or Resignation for Good Reason other than during the Pre-CIC Period or within 24 months
Following a Change in Control. If Executive’s employment is terminated by Inland Management without Cause or if Executive resigns for Good Reason, and such termination is not within the period of time between the signing of a definitive
agreement that, if consummated, would constitute a Change in Control and the consummation of such Change in Control (the “Pre-CIC Period”) or the twenty-four- (24-) month period following a Change in Control, then, subject to
Section 5 and Section 8, Executive will receive a payment in an amount equal to 2 times the sum of (i) Executive’s Base Salary and (ii) Executive’s Target Bonus for the year in which termination occurs. Such amounts
will be payable over a period of 12 months in equal installments in accordance with Inland Management’s or Inland REIT’s normal payroll practices, commencing within sixty (60) days following Executive’s separation from
service. 
 (b) Termination Without Cause or Resignation for Good Reason during the Pre-CIC Period or Following a Change
in Control. If Executive’s employment is terminated by Inland Management without Cause or if Executive resigns for Good Reason, and such termination is during the Pre-CIC Period or within the twenty-four- (24-) month period following a
Change in Control, then, subject to Section 5 and Section 8, Executive will receive a  

  
 5 

 
lump sum payment equal to (a) 3 times the sum of (i) Executive’s Base Salary and (ii) Executive’s Target Bonus for the year in which termination occurs if the Triggering
Event is a Change in Control or (b) 2.5 times the sum of (i) Executive’s Base Salary and (ii) Executive’s Target Bonus for the year in which termination occurs if the Change in Control occurs after the occurrence of a
Qualified Event. Such lump sum amounts will be payable within the later of sixty (60) days following Executive’s separation from service or 30 days following the date of the Change in Control. 

(c) Benefit Continuation. If Executive is entitled to severance payments under either Section 4(a) or 4(b) hereof, the
Company shall, at the Company’s expense, for a period of 18 months (the “Benefit Continuation Period”), provide medical insurance benefit coverage in coordination with the provisions of the Consolidated Omnibus Budget
Reconciliation Act of 1985 (“COBRA”) by reimbursing Executive for the applicable coverage premiums, provided that (i) Executive completes and timely files all necessary COBRA election documentation, which will be sent to
Executive after the last day of employment and (ii) Executive continues to make all required premium payments required by COBRA. In the event such premium payment reimbursements by the Company, by reason of change in the applicable law, may, in
the reasonable view of the Company, result in tax or other penalties on the Company, this provision shall terminate and Executive and the Company shall, in good faith, negotiate for a substitute provision that would not result in such tax or other
penalties. Benefits otherwise receivable by Executive pursuant to this Section 4(c) shall be reduced to the extent Executive becomes eligible for substantially similar medical insurance benefits during the applicable Benefit Continuation Period
(and any such benefits received by, or made available to, Executive shall be reported to the Company by Executive). 
 5. Conditions to
Receiving Severance. The receipt of any severance or other benefits pursuant to Section 4 will be subject to Executive signing, returning to Inland Management and not revoking, a general release agreement, in a form of agreement
generally used by Inland Management for such purposes, releasing the Company, Inland REIT and their affiliates from any and all claims Executive may have arising out of Executive’s employment, or termination thereof (the “Release
Agreement”) and such Release Agreement becoming effective no later than fifty-five (55) days following Executive’s termination of employment; provided, however, that in the event such fifty-five (55) day period straddles two
taxable years, the payments described in Section 4 shall not commence until the later of the two taxable years; and provided further that the general release agreement and any accompanying separation agreement shall have no greater obligations
or more limiting post-employment restrictions than are expressly set forth in this Agreement.  
 6. Executive
Covenants. Executive acknowledges that the covenants contained in Section 6 of this Agreement survive the termination of the Term and that the consideration noted in Section 2, as well as Executive’s employment, is sufficient
compensation for such covenants. For purposes of this Section 6, “Company” means the Company and its subsidiaries, parent companies, including Inland REIT prior a Triggering Event and affiliated companies. 

  
 6 

 (a) Nondisclosure of Confidential Information. “Confidential
Information” means data and information relating to the business of the Company, which is disclosed to or created by Executive, or of which Executive becomes aware as a consequence of Executive’s relationship with the Company, that has
value to the Company and is not generally known to competitors of the Company. Subject to the foregoing, Confidential Information includes, but is not limited to, business development, marketing and sales programs, customer, potential customer and
supplier/vendor information, customer lists, employee information, marketing strategies, Company financial results, information related to mergers and acquisitions, pricing information, personnel information, financial data, regulatory approval
strategies, investigative records, research, marketing strategy, testing methodologies and results, computer programs, programs and protocols, and related items used by the Company in its business, whether contained in written form, computerized
records, models, prototypes or any other format, and any and all information obtained in writing, orally or visually during visits to offices of the Company. Confidential Information shall not include any information that (A) is or becomes
generally available to the public other than as a result of an unauthorized disclosure, (B) has been independently developed and disclosed by others without violating this Agreement, or (C) otherwise enters the public domain through lawful
means. Executive acknowledges that he will continue to receive and develop Confidential Information of the Company as a necessary part of Executive’s job. Executive agrees that while employed by the Company, Executive will continue to benefit
and add to the Company goodwill with its clients and in the marketplace generally. Executive further agrees that loss of such clients will cause the Company significant and irreparable harm and that the restrictions on Executive’s use of such
Confidential Information are reasonable and necessary to protect the Company’s legitimate business interests in its Confidential Information. Accordingly, Executive will not at any time during Executive’s employment by the Company, and for
so long thereafter as the pertinent information or documentation constitutes Confidential Information as defined above, use or disclose to others any Confidential Information, except as specifically authorized in a signed writing by the Company or
in the performance of work assigned to Executive by the Company. The covenants made by Executive herein are in addition to, and not exclusive of, any and all other rights to which the Company is entitled under federal and state law, including, but
not limited to, rights provided under copyright and trade secret laws, and laws concerning fiduciary duties. Executive hereby agrees not to disclose, copy, or remove from the premises of the Company any documents, records, tapes or other media or
format that contain or may contain Confidential Information, except as required by the nature of Executive’s duties for the Company. 

(b) Return of Company Property. Promptly following the end of the Term, or at any time at the request of the Company,
Executive will return to Company all Confidential Information, physical property of the Company and any information relating to the clients or customers of the Company that Executive may possess or have under his control, together with all copies
thereof, including but not limited to company hardware, records, memoranda, notes, plans, reports, computer tapes, software and other documents and data containing confidential information. 

(c) Noncompetition. Except on behalf of the Company, Executive acknowledges and agrees that during the Term and for 12
months following the termination of his employment by him for any reason or no reason or by the Company for Cause, Executive will not directly or indirectly engage in or associate with (including, without limitation, engagement or association as a
sole proprietor, owner, employer, director, partner, principal, investor, joint venturer, shareholder, associate, employee, member, consultant, contractor or otherwise), any  

  
 7 

 
person or entity engaged in the business of operating or managing real estate investment trusts or purchasing or selling lodging properties anywhere in the United States (a “Competing
Business”), provided that Executive may own or manage, or participate in the ownership or management of, any entity that he owned or managed, or participated in the ownership or management of, prior to the Start Date, which ownership,
management or participation has been disclosed in writing to the Company on or prior to the date hereof; and provided, further, that Executive may own, directly or indirectly, up to one percent (1%) of any class of “publicly traded
securities” of any entity that is a Competing Business. For the purposes of this Section 6(c), “publicly traded securities” shall mean securities that are traded on a national securities exchange. Notwithstanding the foregoing,
Executive shall no longer be subject to the terms of this Section 6(c) from and following the occurrence of a Change in Control with respect to any period following the termination of his employment with the Company. 

(d) Employee and Independent Contractor Nonsolicitation and Noninterference. During the Term and for 3 years following
termination of Executive’s employment for any reason or no reason by either the Company or Executive, Executive will not, directly or indirectly (i) recruit, hire, retain or attempt to recruit, hire or retain, any then-current employee or
independent contractor of the Company or any former employee who was employed by the Company within the prior six (6) months, for employment or engagement with an entity other than the Company, or (ii) entice or attempt to persuade the
Company’s then-current employee or independent contractor to leave employment or engagement with the Company. 
 (e)
Nondisparagement. Executive shall not make, and the Company shall instruct each member of the Board and each executive officer of Inland REIT and the Company not to make, or cause to be made, during the Term and at all times
thereafter, any statement or communicate any information (whether oral or written) that disparages the Company or Executive, respectively, including, with respect to Executive’s obligations, the Company’s subsidiaries or parent companies
or any of their respective officers, directors, board members, investors, shareholders, agents or employees. 
 (f)
Reasonableness. Executive acknowledges that the provisions contained in this Section 6 are reasonable and necessary to protect the Company’s interests in its good will, business relationships, and confidential information and
that the Company will suffer substantial harm if Executive engages in any of the prohibited activities. Executive warrants that no provision of this Section 6 will work to prevent Executive from earning a living. 

(g) Enforcement. It is the desire and intent of the parties hereto that the provisions of Section 6 of this Agreement
be construed independently of one another to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Each restriction contained in this Section 6 is intended to be
severable, and the unenforceability of any such provision shall not affect the enforceability of any other provision of Section 6. The Company shall be entitled to all rights and remedies as set forth in this Section 6 until the expiration
of the covenants contained herein in accordance with their terms. The parties agree and acknowledge that damages will be difficult, if not impossible, to calculate in the event of a breach, or threatened breach, of any of the provisions of this
Section 6 and, in any event, damages will be an insufficient remedy in the event of such breach. Accordingly, the parties agree that the Company shall, in addition to all other remedies, be entitled to injunctive relief in the event of any
breach of the provisions of this Section 6. 

  
 8 

 7. Parachute Payment Limitations. Notwithstanding anything to the contrary
contained herein (or any other agreement entered into by and between Executive and the Company or any incentive arrangement or plan offered by the Company), in the event that any amount or benefit paid or distributed to Executive pursuant to this
Agreement, taken together with any amounts or benefits otherwise paid to Executive by the Company (collectively, the “Covered Payments”), would constitute an “excess parachute payment” as defined in Section 280G of the
Internal Revenue Code of 1986, as amended (the “Code”), and would thereby subject Executive to an excise tax under Section 4999 of the Code (an “Excise Tax”), the provisions of this Section 7 shall apply.
If the aggregate present value (as determined for purposes of Section 280G of the Code) of the Covered Payments exceeds the amount which can be paid to Executive without Executive incurring an Excise Tax, then, solely to the extent that
Executive would be better off on an after tax basis by receiving the maximum amount which may be paid hereunder without Executive becoming subject to the Excise Tax, as determined by Executive in his sole discretion, the amounts payable to Executive
under this Agreement (or any other agreement by and between Executive and the Company or pursuant to any incentive arrangement or plan offered by the Company) shall be reduced (but not below zero) to the maximum amount which may be paid hereunder
without Executive becoming subject to the Excise Tax (such reduced payments to be referred to as the “Payment Cap”). In the event Executive receives reduced payments and benefits as a result of application of this Section 7,
Executive shall have the right to designate which of the payments and benefits otherwise set forth herein (or any other agreement between the Company and Executive or any incentive arrangement or plan offered by the Company) shall be received in
connection with the application of the Payment Cap, subject to the following sentence. Reduction shall first be made from payments and benefits which are determined not to be nonqualified deferred compensation for purposes of Section 409A of
the Code, and then shall be made (to the extent necessary) out of payments and benefits that are subject to Section 409A of the Code and that are due at the latest future date. 

8. Recoupment. Notwithstanding any other provision of this Agreement to the contrary, Executive acknowledges that he will be
subject to recoupment policies adopted by the Company pursuant to the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act or other law or the listing requirements of any national securities exchange on which the Shares of
the Company may be listed. 
 9. Tax Withholding. Executive shall be liable for all income taxes incurred with respect
to all benefits provided under this Agreement. All payments required to be made to Executive under this Agreement shall be subject to withholding of amounts relating to income tax, excise tax, employment tax and other payroll taxes to the extent
Inland Management determines is required to be withheld pursuant to applicable law or regulation. 
 10. Section 409A of
the Internal Revenue Code. It is the intent of the parties that payments and benefits under this Agreement comply with, or be exempt from, Section 409A of the Code and, accordingly, to the maximum extent permitted, this Agreement shall
be interpreted and administered consistent with such intent. With respect to expenses  

  
 9 

 
eligible for reimbursement under the terms of this Agreement: (i) the amount of such expenses eligible for reimbursement in any taxable year shall not affect the expenses eligible for
reimbursement in another taxable year; and (ii) any reimbursements of such expenses shall be made no later than the end of the calendar year following the calendar year in which the related expenses were incurred, except, in each case, to the
extent that the right to reimbursement does not provide for a “deferral of compensation” within the meaning of Section 409A of the Code. In addition, Executive’s right to reimbursement (or in-kind benefits) cannot be liquidated
or exchanged for any other benefit or payment. Notwithstanding anything contained herein to the contrary, to the extent required to avoid accelerated taxation or tax penalties under Section 409A of the Code, Executive shall not be considered to
have terminated employment for purposes of this Agreement and no payments shall be due to Executive under this Agreement that are payable upon Executive’s termination of employment until Executive would be considered to have incurred a
“separation from service” from the Company within the meaning of Section 409A of the Code. In addition, for purposes of this Agreement, each amount to be paid or benefit to be provided to Executive pursuant to this Agreement shall be
construed as a separate identified payment for purposes of Section 409A of the Code and any payments described herein that are due within the “short term deferral period” as defined in Section 409A of the Code shall not be
treated as deferred compensation unless applicable law requires otherwise. Notwithstanding anything contained herein to the contrary, if Executive is a “specified employee,” as defined in Section 409A of the Code, as of the date of
Executive’s separation from service, then to the extent any amount payable under this Agreement (i) constitutes the payment of nonqualified deferred compensation, within the meaning of Section 409A of the Code, (ii) is payable
upon Executive’s separation from service and (iii) under the terms of this Agreement would be payable prior to the six-month anniversary of Executive’s separation from service, such payment shall be delayed until the earlier to occur
of (A) the six-month anniversary of the separation from service or (B) the date of Executive’s death. 
 11.
Definitions. For the purposes of this Agreement, the following terms shall be defined as set forth below: 
 (a)
“Affiliate” means any domestic or foreign individual, partnership, corporation, limited liability company, association, joint stock company, trust, joint venture, unincorporated organization or governmental entity that, directly or
indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, the Company. 
 (b)
“Board” means the board of directors of the Inland REIT prior to a Triggering Event and the board of directors of Inland Lodging or its successor on and after a Triggering Event. 

(c) “Cause” means any of the following: 

(i) the willful fraud or material dishonesty of Executive in connection with the performance of Executive’s duties to the Company; 

  
 10 

 (ii) the deliberate or intentional failure by Executive to substantially perform
Executive’s duties to the Company (other than the Executive’s failure resulting from his incapacity due to physical or mental illness or any such actual or anticipated failure after Executive’s issuance of a Notice of Termination for
Good Reason) after a written notice is delivered to the Executive by the Board, which demand specifically identifies the manner in which the Board believes the Executive has not substantially performed his duties.; 

(iii) willful misconduct by Executive that is materially detrimental to the reputation, goodwill or business operations of the Company or any
Affiliate; 
 (iv) willful disclosure of the Company’s Confidential Information or trade secrets; 

(v) a breach of Section 6(a), (b), (c) or (d) or Section 18 of this Agreement; or 

(vi) the conviction of, or plea of nolo contendere to a charge of commission of a felony or crime of moral turpitude by Executive. 

For purposes of this Section, no act or failure to act will be considered “willful,” unless it is done or omitted to be done, by the Executive in
bad faith or without reasonable belief that the Executive’s action or omission was in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the
advice of counsel for the Company will be presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company. 

(d) “Change in Control” means the first to occur of any of the events set forth in the following paragraphs; provided,
however, that a Qualified Event shall not constitute a Change in Control: 
 (i) any “person,” as such term is used in Sections
13(d) and 14(d) of the Securities Exchange Act of 1934 (the “Exchange Act”), other than Inland Lodging or an Affiliate thereof or a Company or Inland REIT employee benefit plan, including any trustee of such plan acting as trustee,
is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of Inland Lodging or the Inland REIT representing thirty percent (30%) or more of the combined voting power
of Inland Lodging’s or the Inland REIT’s, as applicable, then outstanding securities entitled to vote generally in the election of directors; 

(ii) a merger, reverse merger or other business combination or consolidation of Inland Lodging or the Inland REIT or any direct or indirect
subsidiary of Inland Lodging or the Inland REIT, as applicable with any other corporation other than an Affiliate of Inland Lodging, other than a merger or consolidation which would result in the voting securities of Inland Lodging or the Inland
REIT, as applicable outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least fifty percent (50%) of the total voting power
represented by the voting securities of Inland Lodging or the Inland REIT, as applicable, or such surviving entity outstanding immediately after such merger, reverse merger, business combination or consolidation; 

  
 11 

 (iii) a majority of the members of the Board in effect at the time of a Qualified Event is
replaced during any 12 month period after the Qualified Event by directors whose appointment or election is not endorsed by a majority of the Board prior to the date of the appointment or election; or 

(iv) a person (or group), other than an Affiliate of Inland Lodging, acquires (or has acquired, during a 12-month period), assets that have a
total gross fair market value of forty percent (40%) or more of the total gross fair market value of all assets of Inland Lodging immediately prior to such acquisition. 

(e) “Disabled” has the same meaning as provided in the long-term disability plan or policy maintained by Inland Management or
Inland REIT, whichever entity maintains such plan or policy and if both maintain such a plan or policy, then the plan or policy of Inland Management. If no such disability plan or policy is maintained by Inland Management or Inland REIT, Disabled
means Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment, which can be expected to result in death or can be expected to last for a continuous period of not less
than twelve (12) months. If the Executive disputes Inland Management’s determination of Disability, the Executive (or his designated physician) and Inland Management (or its designated physician) shall jointly appoint a third party
physician to examine Executive and determine whether the Executive is Disabled. 
 (f) “Fair Market Value” means, as of any
particular date, the value of the Share Units or Shares as determined by the Board in good faith, which valuation will be provided to Executive in conjunction with the Board’s determination, provided that (i) prior to a Qualified Event,
“Fair Market Value” of a Share or Share Unit shall be determined by reference to the valuation performed by Real Globe Advisors, LLC (“Real Globe”) as of December 31, 2013, or such other subsequent similar valuation
report performed by Real Globe or other third party advisory firm engaged by the Board to estimate the value of a Share Unit or Share on a fully diluted basis, using methodologies and assumptions substantially similar to those used in prior
valuations and (ii) if Shares are admitted to trading on the New York Stock Exchange, NASDAQ or on any other nationally recognized stock exchange, “Fair Market Value” of a Share on any such date shall be the closing price reported for
such Share on such exchange on the last date preceding such date on which a sale was reported. 
 (g) “Good Reason” means
(i) a material diminution of Executive’s Base Salary, Target Bonus, grants of Share Units as set forth in Section 2(c) (other than adjustments to Share Units as described in Section 2(c)(iii) of this Agreement) or other annual
incentive compensation opportunities; (ii) a material reduction in Executive’s authority, duties or responsibilities; provided, however, that dispositions or transfers of assets between the Company and one or more Affiliates (up to a
maximum of fifty-four (54) select service hotels) that are contemplated by the Board as of the execution of this Agreement shall not be considered a reduction in the Executive’s authority, duties or responsibility for purposes of this
clause (ii); (iii) a requirement that Executive report to anyone other than (a) the highest level executive officer or the Board of the Inland REIT prior to a Triggering Event or (b) after a Triggering Event, the Board of Inland
Lodging or the successor company if Inland Lodging is not a surviving entity of the Triggering Event; (iv) Executive being required to relocate his principal 

  
 12 

 
place of employment with Inland Management more than 50 miles from his principal place of employment as of the date of this Agreement, it being understood that Executive may be required to travel
frequently in connection with his position as set forth herein and that prolonged periods away from Executive’s principal residence shall not constitute Good Reason; or (v) failure of any successor to the Company following a Change in
Control, as defined in Section 11(d) of this Agreement, to assume this Agreement and the obligations hereunder. A termination of employment by Executive shall not be deemed to be for Good Reason unless (A) Executive gives the Company
written notice describing the event or events which are the basis for such termination within sixty (60) days after the event or events occur, (B) such grounds for termination (if susceptible to correction) are not corrected by the Company
within thirty (30) days of the Company’s receipt of such notice (“Correction Period”), and (C) Executive terminates his employment no later than thirty (30) days following the Correction Period. 

(h) “Qualified Event” means any of the following: (i) a straight listing of Shares on the New York Stock Exchange, NASDAQ
or on any other nationally recognized stock exchange; (ii) an underwritten public offering of Shares pursuant to an effective registration statement under the Securities Act of 1933, as amended from time to time, which Shares are approved for
listing or quotation on the New York Stock Exchange, NASDAQ or on any other nationally recognized stock exchange; or (iii) a reverse merger of Inland Lodging into an existing publicly held company or its acquisition subsidiary, resulting in the
Shares first becoming listed on the New York Stock Exchange, NASDAQ or on any other nationally recognized stock exchange. 
 (i)
“Shares” means shares of the common stock of Inland Lodging and any successor security or interest. 
 (j) “Share
Units” means notional units of Inland Lodging. Prior to any issuance of any Shares upon the vesting of a Share Unit, a Share Unit shall not comprise or convey to the Executive any right, title or interest in actual ownership of Inland
Lodging or any Shares. 
 (k) “Triggering Event” means the first occurrence after the date of this Agreement of a Change in
Control or a Qualified Event. 
 12. Indemnification. The Executive shall be entitled to indemnification by the Company or
Inland REIT consistent with the terms of the Company’s or Inland REIT’s bylaws or equivalent organizational documents or indemnification policies in effect from time to time; provided, however, that the Company or Inland REIT shall not be
required to pay any amounts under any such indemnification policy except upon receipt of an unsecured undertaking by the Executive to repay any such amounts as are ultimately determined by a final judgment of a court of competent jurisdiction that
the Executive is not entitled to indemnification by the Company or Inland REIT. Executive will also be covered under the Company’s or Inland REIT’s directors and officers insurance policy, if any, pursuant to the terms of such policy for
so long as the Company or Inland REIT maintains such coverage for any director or officer of the Company. The Company’s and Inland REIT’s obligations under this Section will survive termination or expiration of this Agreement and any
termination of Executive’s employment with the Company for any reason, subject to the terms of the applicable policy as may be in effect at the Company or Inland REIT. 

  
 13 

 13. Successors and Assigns. This Agreement and all rights hereunder are personal to
Executive and shall not be assignable by Executive; provided, however, that any amounts that shall have become payable under this Agreement prior to Executive’s death shall inure to the benefit of Executive’s heirs or other legal
representatives, as the case may be. This Agreement shall be binding upon and inure to the benefit of the Company’s successors, including any entity that succeeds to the business and interests of the Company whether by merger, consolidation,
purchase of assets or otherwise, of all or substantially all of the Company’s assets and business.  
 14. Blue-Penciling;
Severability. In the event that any provision of this Agreement is determined to be partially or wholly invalid, illegal, unenforceable, or unreasonable or excessive as to duration, geographic scope, or activity, then such provision shall be
modified or restricted to the extent necessary to make such provision valid, binding and enforceable. Any provision that is modified shall be construed by limiting and reducing it to the maximum time, geographic or scope limitations, as the case may
be, so as to be reasonable and enforceable to the extent compatible with the applicable law. If such provision cannot be modified or restricted, then such provision shall be deemed to be excised from this Agreement, provided that the binding effect
and enforceability of the remaining provisions of this Agreement shall not be affected or impaired in any manner. 
 15.
Amendment. This Agreement may not be amended orally; it may only be amended in a writing signed by Executive and a duly authorized representative of the Company. 

16. Notices. Any notices to be given under this Agreement may be made by personal delivery, e-mail, or recognized overnight
courier. Notice by personal delivery or courier will be deemed made on the date of actual receipt. 
 Notice to the Company shall be
addressed to: 
 Scott Wilton 

Secretary and General Counsel, Inland American Real Estate Trust, Inc. 

2809 Butterfield Road 
 Oak Brook,
IL 60523 
 With a copy to: 

Skadden Arps Slate Meagher & Flom LLP 

155 N. Wacker Drive 
 Chicago, IL
60606-1720 
 Attention: Rodd Schreiber 

FordHarrison LLP 
 100 Park Avenue

 New York, New York 10017 

Attention: Stephen Zweig 

  
 14 

 Notice to Executive shall be addressed to Executive at the home address most recently provided to
the Company. 
 17. Governing Law. This Agreement shall be governed by and enforceable in accordance with the laws of the State
of Delaware as applicable to contracts executed and performed within such state, without regard to the application of any choice-of-law rules that would result in the application of another state’s laws. 

18. Arbitration.  

(a) The Company and Executive mutually consent to the resolution by final and binding arbitration of any and all disputes, controversies or
claims related in any way to Executive’s relationship with the Company and its parents and affiliates, including, but not limited to, any dispute, controversy or claim of alleged discrimination, harassment or retaliation (including, but not
limited to, claims based on race, sex, sexual preference, religion, national origin, age, marital or family status, medical condition, handicap or disability); any dispute, controversy or claim arising out of or relating to this Agreement or the
breach of this agreement; and any dispute as to the arbitrability of a matter under this Agreement (collectively, “Claims”); provided, however, that nothing in this Agreement shall require arbitration of any Claims which, by law,
cannot be the subject of a compulsory arbitration agreement. 
 (b) All Claims shall be resolved exclusively by arbitration administered by
JAMS under its Employment Arbitration Rules and Procedures then in effect (the “JAMS Rules”). Notwithstanding the foregoing, the Company and Executive shall have the right to (i) seek a restraining order or other injunctive or
equitable relief or order in aid of arbitration or to compel arbitration, from a court of competent jurisdiction, or (ii) interim injunctive or equitable relief from the arbitrator pursuant to the JAMS Rules, in each case to prevent any
violation of this Agreement. The Company and Executive must notify the other party in writing of a request to arbitrate any Claims within the same statute of limitations period applicable to such Claims. 

(c) Any arbitration proceeding brought under this Agreement shall be conducted before one arbitrator in DuPage County, Illinois, or such other
location to which the parties mutually agree. The arbitrator shall be selected in accordance with the JAMS Rules, provided that the arbitrator shall be an attorney with significant experience in employment matters. Each party to any dispute shall
pay its own expenses, including attorneys’ fees; provided, however, that the Company shall pay all costs and fees that Executive would not otherwise have been subject to paying if the claim had been resolved in a court of law and, to the extent
required by applicable law for this arbitration provision to be enforceable, the Company shall reimburse Executive for any reasonable travel expenses incurred by Executive in connection with Executive’s travel to Illinois for any arbitration
proceedings. The arbitrator will be empowered to award either party any remedy at law or in equity that the party would otherwise have been entitled to had the matter been litigated in court, including, but not limited to, general, special and
punitive damages, injunctive relief, costs and attorney fees; provided, however, that the authority to award any remedy is subject to whatever limitations, if any, exist in the applicable law on such remedies. The arbitrator shall issue a decision
or award in writing, stating the essential findings of fact and conclusions of law, and the arbitrators shall be required to follow the laws of the State of Delaware consistent with Section 17 of this Agreement. 

  
 15 

 (d) Any judgment on or enforcement of any award, including an award providing for interim or
permanent injunctive relief, rendered by the arbitrator may be entered, enforced or appealed in any court having jurisdiction thereof. Any arbitration proceedings, decision or award rendered hereunder, and the validity, effect and interpretation of
this arbitration provision, shall be governed by the Federal Arbitration Act, 9 U.S.C. § 1 et seq. 
 (e) It is part of the essence of
this Agreement that any Claims hereunder shall be resolved expeditiously and as confidentially as possible. Accordingly, the Company and Executive agree that all proceedings in any arbitration shall be conducted under seal and kept strictly
confidential. In that regard, no party shall use, disclose or permit the disclosure of any information, evidence or documents produced by any other party in the arbitration proceedings or about the existence, contents or results of the proceedings
except as necessary and appropriate for the preparation and conduct of the arbitration proceedings, or as may be required by any legal process, or as required in an action in aid of arbitration or for enforcement of or appeal from an arbitral award.
Before making any disclosure permitted by the preceding sentence, the party intending to make such disclosure shall give the other party reasonable written notice of the intended disclosure and afford such other party a reasonable opportunity to
protect its interests. 
 19. Captions and Headings. Captions and paragraph headings are for convenience only, are not a part
of this Agreement, and shall not be used to construe any provision of this Agreement. 
 20. Counterparts. This
Agreement may be executed in counterparts, each of which shall constitute an original, but both of which when taken together shall constitute one Agreement. Signatures may be exchanged by facsimile or email. 

21. Survival. The respective obligations of, and benefits accorded to, the Company and Executive as provided in Section 2(b)
and (c), 3(e), 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 and 18 of this Agreement shall survive the expiration or earlier termination of this Agreement. Without limiting the foregoing, Executive acknowledges and agrees that Executive’s obligations
under Section 6 of this Agreement shall survive the cessation of Executive’s employment with the Company for whatever reason.  

22. Entire Agreement. This Agreement sets forth the entire agreement between the Company (or any of its affiliates) and Executive
with respect to its subject matter, and merges and supersedes all prior discussions, negotiations, representations, proposals, agreements and understandings of every kind and nature between the Company (or any of its affiliates) and Executive,
including, for the avoidance of doubt, that certain Employment Agreement entered into as of February 13, 2009, by and between Executive and Inland American Business Manager & Advisor, Inc., which agreement shall terminate in its
entirety automatically upon execution of this Agreement. Executive and the Company represent that, in executing this Agreement, each party has not relied upon any representation or statement made by the other party, other than those set forth
herein, with regard to the subject matter, basis or effect of this Agreement. 

  
 16 

 IN WITNESS WHEREOF, the Company and Executive have executed this Agreement on the date first written
above. 
  

							
	IA Lodging Group, Inc.	  		 	Executive
			
	 /s/ Thomas P. McGuinness
	  		 	 /s/ Marcel Verbaas

	By:	 	 Thomas P. McGuinness
	  		 	Marcel Verbaas
	Its:	 	 Director
	  		 	

  

					
	IA Lodging Management, LLC	 	
	
	 By: WINN Limited Partnership, a North Carolina limited partnership, its sole member

By: Inland American Winston Hotels, Inc., a Delaware corporation, its general partner

	  
	 	
	By:	 	 /s/ Thomas P. McGuinness
	 	
	Its:	 	 Director

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