Document:

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                                                                    Exhibit 10.4

                                PLEDGE AGREEMENT

     THIS PLEDGE AGREEMENT (this "Agreement") dated as of November 20, 2001
                                  ---------
between BRE/HV HOLDINGS L.L.C. ("Holdco") and SECURITY CAPITAL LODGING
INCORPORATED (the "Lender") .

                              W I T N E S S E T H:
                              - - - - - - - - - -

     WHEREAS, the Lender has agreed to make a loan (the "Loan") in the original
principal amount of $115,000,000 to Holdco pursuant to a term note (the "Note")
dated the date hereof by Holdco in favor of the Lender and may from time to time
make additional loans pursuant to PIK Notes, as defined in the Note; and

     WHEREAS, as a condition precedent to such Loan, Holdco is required to
execute and deliver this Agreement to grant a security interest to the Lender in
certain limited liability company membership interests of BRE/Homestead Village
L.L.C., a wholly-owned subsidiary of Holdco;

     NOW, THEREFORE, for and in consideration of the Loan and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

     1.   Definitions. When used herein, (a) the terms used herein and not
          -----------
otherwise defined herein shall have the meanings assigned to such terms in the
Note, and (b) the following terms have the following meanings (such definitions
to be applicable to both the singular and plural forms of such terms):

     Collateral means all property and rights of Holdco in the Investment
     ----------
Property, the Collection Account, the investments and funds in the Collection
Account and all proceeds, rents, profits and returns in connection therewith.

     Collection Account has the meaning set forth in Section 5.
     ------------------                              ---------

     Default means the occurrence of any of the following events: (a) any Event
     -------
of Default; (b) any representation or warranty of Holdco herein is untrue in any
material respect; or (c) Holdco fails to comply with or perform any covenant or
other agreement under this Agreement in any material respect and such failure
shall continue for 30 days after written notice from the Lender.

     Investment Property shall mean all of Holdco's present or hereafter
     -------------------
acquired right, title and interest in any membership interest in the Pledged
Subsidiary, any and all payments or dividends of whatever kind or character,
whether in cash or other rights or property, at any time made, owing or payable
to Holdco in respect of or on account of its present or hereafter acquired
interests in the Pledged Subsidiary, whether due or to become due and whether
representing profits, distributions pursuant to any complete or partial
liquidation or withdrawal of any interest

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in any of the foregoing, repayment or other return of capital contributions, and
the right to receive, receipt for, use and enjoy all such payments and
distributions.

     Issuer Agreement shall mean the Limited Liability Company Agreement of the
     ----------------
Pledged Subsidiary.

     Pledged Subsidiary shall mean BRE/Homestead Village, L.L.C., a Delaware
     ------------------
limited liability company.

     Secured Obligations means (i) all obligations (monetary or otherwise) of
     -------------------
Holdco to the Lender arising under the Note and the PIK Notes, (ii) all
reasonable and actual expenses and charges, legal or otherwise, incurred by the
Lender in collecting any of such obligations or realizing upon, protecting or
preserving the Collateral or perfecting its interest therein or enforcing the
payment of the obligations of Holdco to the Lender under the Note and the PIK
Notes, and (iii) all advances made by the Lender under the Intercreditor
Agreement dated the date hereof between Bear, Stearns Funding, Inc. and the
Lender.

     UCC shall mean the Uniform Commercial Code as in effect in the State of New
     ---
York from time to time.

     2.    Grant of Security Interest. As security for the payment of all
           --------------------------
Secured Obligations, Holdco hereby assigns to the Lender, and grants to the
Lender a security interest in and Lien on, the following, whether now or
hereafter existing or acquired:

     (i)   the Investment Property; and

     (ii)  the Collection Account and all investments and funds therein; and

     (iii) all proceeds, rents, profits and returns of and from any of the
           foregoing.

     3.    Warranties. As of the date hereof, Holdco represents and warrants
           ----------
that:

           (a) no financing statement (other  than any which may have been filed
     on behalf of the Lender) covering any of the Collateral is on file in any
     public office;

           (b)  Holdco is and will be the lawful owner of all Collateral, free
     of all Liens and claims whatsoever, other than the Lien hereunder;

           (c)  Holdco is a limited liability company validly organized and
     existing and in good standing under the laws of Delaware and has full power
     and authority and holds all requisite governmental licenses, permits and
     other approvals to enter and to perform its obligations under this
     Agreement;

           (d)  no authorization, approval or other action by, no notice to or
     filing w ith any governmental authority, regulatory body or any other e
     ntity is required either with respect to the pledge by Holdco of the
     Collateral pursuant to this Agreement or for the execution, delivery and
     performance of this Agreement by Holdco, or for the exercise by Holdco of
     the voting, or other rights provided for in this Agreement;

                                       -2-

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          (e)  the copy of the limited liability company agreement of the
     Pledged Subsidiary delivered to the Lender is a true and correct copy and
     has not been altered or amended;

          (f)  the chief executive office and principal place of business of
     Holdco is 345 Park Ave., New York, New York and Holdco has had no other
     chief executive office or principal place of business in the last six
     months;

          (g)  this Agreement is a legal, valid and binding obligation of
     Holdco, enforceable in accordance with its terms subject to applicable
     bankruptcy, insolvency and similar laws affecting the enforcement of
     creditors' rights and general principles of equity; the execution, delivery
     and performance of this Agreement will not constitute a breach or default
     by Holdco under the Issuer Agreement; and all consents of any other Persons
     (including, without limitation, the Pledged Subsidiary) which are required
     for the grant or perfection of the Lien hereunder in any Collateral or the
     exercise by the Lender of its rights hereunder have been obtained;

          (h)  no interest in the Pledged Subsidiary is dealt in or traded on
     any securities exchange or securities market, is a security the terms of
     which expressly provide that it is governed by Article 8 of the Uniform
     Commercial Code as in effect in the State of New York (the "Applicable
     UCC"), constitutes an "investment company security" (as defined under
     Section 8-103(b) or the equivalent thereof of any of the Applicable UCC) or
     is held in a "securities account" (as defined in the Applicable UCC); and

          (i)  Holdco, as sole member of the Pledged Subsidiary, hereby consents
     to this Agreement notwithstanding any limitations in the Issuer Agreement.

     4.   Agreements of Holdco. Holdco:
          --------------------

          (a)  will, upon request of the Lender, execute such financing
     statements and other documents (and pay the cost of filing or recording the
     same in all public offices deemed appropriate by the Lender) and do such
     other acts and things, all as the Lender may from time to time reasonably
     request, to establish and maintain a valid perfected Lien on the Collateral
     (free of all other Liens, claims and rights of third parties whatsoever) to
     secure the payment of the Secured Obligations;

          (b)  will not agree to any material waiver, amendment or modification
     of the Issuer Agreement without the prior written consent of the Lender,
     not to be unreasonably withheld, delayed or conditioned;

          (c)  will promptly furnish to the Lender in reasonable detail (i)
     written notice of any Lien, encumbrance or claim made or asserted against
     any of the Collateral, and (ii) written notice of the occurrence of any
     other event which would have a material adverse effect on the aggregate
     value of the Collateral or on the Lien created hereunder;

          (d)  will not sell, lease, assign or permit to exist any Lien on any
     of Holdco's interests in any Collateral other than Liens in favor of the
     Lender;

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          (e)  will pay all documentary, stamp or other taxes or fees owing in
     connection with the Collateral as such become due and payable provided,
     that Holdco may contest by appropriate legal proceedings, promptly
     initiated and conducted in good faith with due diligence, the amount of any
     tax or fee; and

          (f)  will reimburse the Lender for all expenses, including without
     limitation reasonable attorneys' fees and legal expenses, incurred by the
     Lender in seeking to collect or enforce any rights in respect of the
     Collateral during the existence of a Default.

     5.   Distributions, Collections, Collection Account. Upon receipt of a
          ----------------------------------------------
notice from the Lender that a Default has occurred and is continuing (upon which
notice the Pledged Subsidiary is hereby authorized to rely) Holdco hereby
authorizes and directs the Pledged Subsidiary to make all distributions,
redemption payments and other payments of any kind whatsoever then due or
thereafter to become due to Holdco in respect of the Collateral directly to such
account, as may be designated in writing by the Lender from time to time (the
"Collection Account"). All distributions or payments in respect of or
 ------------------
constituting a part of the Collateral, any proceeds from any of the foregoing at
any time received by the Lender and all other deposits in the Collection Account
may be retained by the Lender in the Collection Account as additional Collateral
and may at the discretion of the Lender if a Default then exists, at such time
or times as the Lender may deem proper, or, shall at the request of Holdco, be
applied by the Lender to the reduction of the Secured Obligations, whether or
not the same be then due or the Lender may be otherwise adequately secured;
provided that in any case the Lender shall have full discretion as to the order
of application of any such distribution, payment or proceeds to the Secured
Obligations, if due and payable.

     If a Default then exists and is continuing, the Lender may notify any
parties obligated on any of the Collateral to make payment to the Collection
Account of any amount due or to become due thereunder and enforce collection of
any of the Collateral by suit or otherwise and surrender, release or exchange
all or any part thereof, or compromise or extend or renew for any period
(whether or not longer than the original period) any indebtedness thereunder or
evidenced thereby.

     Upon request by the Lender after the occurrence and during the continuation
of an Event of Default, Holdco will forthwith, upon receipt, transmit and
deliver to the Collection Account, in the form received, all cash, checks,
drafts and other instruments or writings for the payment of money (properly
endorsed, where required, so that such items may be collected by the Lender)
which may be received by Holdco after the occurrence and during the continuation
of an Event of Default, at any time in full or partial payment or otherwise as
proceeds of any of the Collateral. Except as the Lender may otherwise consent in
writing, any such items which may be so received by Holdco will not be
commingled with any of its funds or property, but will be held separate and
apart from its own funds or property and upon express trust for the Lender until
delivery is made to the Lender.

     The Lender is authorized, after the occurrence and during the continuation
of a Default, to endorse, in the name of Holdco, any item, howsoever received by
the Lender, representing any payment on, or other proceeds of, any of the
Collateral; provided, however, that such payment or proceeds shall be deposited
in the Collection Account.

                                      -4-

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     Holdco authorizes the Lender to take all action necessary to cause the
Lender to have a first priority security interest in the Collection Account and
all funds and investments therein, including without limitation, causing the
Collection Account to be held in the name of the Lender. Holdco shall have no
right to withdraw any funds or investments from the Collection Account, until
payment in full of the Secured Obligations.

     Holdco may from time to time prior to a Default require all or part of
moneys on deposit in the Collection Account to be invested and re-invested into,
and switched between, any Cash Equivalent Investments by giving written notice
(specifying the relevant amount and investment) to the Lender, provided always
that at all times the Lender's security over and in respect of such moneys and
investments is maintained and all proper fees and costs arising out of such
investments are paid by Holdco.

     The Lender shall apply the proceeds of the realization of any Permitted
Investment:

     (i)  into the Collection Account; or

     (ii) in purchasing other Permitted Investments to be held in the Collection
          Account.

     Upon the occurrence of a Default, the Lender shall be authorized to sell
any such investments and apply the proceeds thereof to payment of the Secured
Obligations in such order of application as the Lender may elect.

     6.   Lender's Option to Perform. The Lender may from time to time, during
          --------------------------
an occurrence and continuation of a Default, perform any obligation to be
performed by Holdco hereunder which Holdco shall fail to perform and take any
other action which the Lender reasonably deems necessary for the maintenance or
preservation of any of the Collateral or its Lien on the Collateral. All moneys
advanced by the Lender in connection with the foregoing shall bear interest at
the rate per annum applicable under the Note and shall be repaid together with
such interest by Holdco to the Lender upon the latter's demand and shall be
secured hereby prior to any other indebtedness or obligation secured hereby, but
the making of any such advance by the Lender shall not relieve Holdco of any
default hereunder.

     Notwithstanding the foregoing except as specifically set forth herein, the
Lender shall have no obligation or liability regarding the Collateral or any
thereof by reason of, or arising out of, this Agreement. This Agreement
constitutes an assignment of the rights of Holdco described herein with respect
to the Collateral and not an assignment of any duties or obligations of Holdco
with respect thereto; and the Lender does not undertake to perform or discharge
and shall not be responsible or liable for the performance or discharge of any
such duties or responsibilities. Holdco hereby agrees to indemnify and hold the
Lender free and harmless from and against any and all loss, damage, liability,
cost and expense, including reasonable attorneys' fees and costs, incurred by
the Lender by reason of the Lender's acceptance of this Agreement or any efforts
to impose any liability upon the Lender for the obligations of Holdco under the
Issuer Agreement.

     7.   Power of Attorney. Holdco hereby appoints the Lender, with full power
          -----------------
substitution, as Holdco's attorney-in-fact for the purpose of carrying out the
provisions of this Agreement during the existence of a Default or other failure
by Holdco to perform hereunder and taking any action and executing any
instrument which the Lender may deem necessary or

                                      -5-

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advisable to accomplish the purposes hereof, which appointment is irrevocable
and coupled with an interest. Without limiting the generality of the foregoing,
Holdco hereby grants the Lender, during the existence of a Default, the power
and right, on behalf of Holdco, without prior notice to or assent by Holdco (but
with prompt notice after any of the following), until all of Holdco's
obligations under this Agreement and the Note are satisfied, to do the
following:

          (a)  to collect and otherwise take possession of and title to any and
     all distributions of cash or other property due or distributable at any
     time after the date hereof to Holdco from the Pledged Subsidiary or in
     respect of any Collateral, whether in complete or partial liquidation or
     otherwise, and to prosecute or defend any action or proceeding in any court
     of law or equity or otherwise deemed appropriate by the Lender for the
     purpose hereof;

          (b)  to ask, demand, collect, receive and give acquittances and
     receipts for any and all moneys due and to become due under any Collateral
     and, in the name of Holdco or its own name or otherwise, to take possession
     of and endorse, sign and collect any checks, drafts, notes, acceptances or
     other instruments for the payment of moneys due under any Collateral and to
     file any claim or to take any other action or proceeding in any court of
     law or equity or otherwise, either in its own name or in the name of
     Holdco, or otherwise, deemed appropriate by the Lender for the purpose of
     collecting any and all such moneys due under any Collateral whenever
     payable;

          (c)  to pay or discharge taxes and Liens levied or placed on or
     threatened against the Collateral; and

          (d)  (i) to direct any party liable for any payment under any of the
     Collateral to make payment of any and all moneys due and to become due
     thereunder directly to the Lender; (ii) to receive payment of and receipt
     for any and all moneys, claims and other amounts due and to become due at
     any time in respect of or arising out of any Collateral; (iii) to take
     control of any proceeds of the Collateral; (iv) to commence and prosecute
     any suits, actions or proceedings at law or in equity in any court of
     competent jurisdiction to collect the Collateral or any portion thereof and
     to enforce any other right in respect of any Collateral; (v) to defend any
     suit, action or proceeding brought against Holdco with respect to any
     Collateral; (vi) to settle, compromise or adjust any suit, action or
     proceeding described above and, in connection therewith, to give such
     discharges or releases as the Lender may deem appropriate; and (vii)
     generally to sell, transfer, or otherwise deal with any of the Collateral
     as fully and completely as though the Lender were the absolute owner
     thereof for all purposes, and to do, at the option of the Lender at
     Holdco's expense, at any time, or from time to time, all acts and things
     which such attorney-in-fact reasonably deems necessary to maintain or
     preserve the Collateral and the Lien of the Lender thereon, in order to
     effect the intent of this Agreement, all as fully and effectively as Holdco
     might do.

Holdco hereby ratifies, to the extent permitted by law, all that the Lender
shall lawfully do or cause to be done by virtue hereof.

     8.   Default.
          -------

                                      -6-

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     (a)  Whenever a Default exists, the Lender may exercise from time to time
any rights and remedies available to it under applicable law. Without limiting
the foregoing, whenever a Default exists the Lender, in addition to the rights,
powers and authorities to collect the sums assigned hereunder or any other
remedies or rights it may have, (i) shall have the right to cause all or any
part of the interest of Holdco in the Pledged Subsidiary to be withdrawn and
(ii) shall have all the rights and remedies of a secured party under the UCC and
any other applicable law with respect to the Collateral.

     (b)  Whenever a Default exists and until such Default is cured, the Lender
may, by written notice to Holdco, cause all (i) voting rights, (ii) consent
rights and (iii) powers, in each case of Holdco arising from or relating to
Holdco's interest in the Pledged Subsidiary, to thereupon become vested in the
Lender which shall thereafter have the sole and exclusive right and authority to
exercise such voting rights and powers.

     (c)  To the extent permitted by applicable law, Holdco hereby waives the
right to object to the manner or sufficiency of advertising or solicitation of
bids in connection with any sales or other disposition of the Collateral. Any
sale by the Lender may be made at any broker's board or public or private sale,
with or without notice or advertisement (except any notice or advertisement
required by law referred to below), for cash or credit, and for present or
future delivery. At any such public or private sale or other disposition of
Collateral, the Lender may, to the extent permissible under applicable law,
purchase the whole or any part of any Collateral sold, free from any right of
redemption on the part of Holdco, which right is hereby waived and released.
Holdco hereby expressly waives, to the fullest extent permitted by applicable
law, any and all notices, advertisements, hearings, or process of law in
connection with the exercise by the Lender of any of its rights and remedies
during the existence of a Default. If any notification of intended disposition
of any of the Collateral is required by law, such notification shall be deemed
reasonably and properly given, if given in the manner set forth in Section 9(b)
below at least 10 days before such disposition, postage prepaid, addressed to
Holdco either at the address shown below or at any other address of Holdco
appearing in the records of the Lender. Any proceeds of any disposition by the
Lender of any of the Collateral will be applied by the Lender to the payment of
expenses in connection with the Collateral, including reasonable attorneys' fees
and legal expenses, and any balance of such proceeds will be applied by the
Lender toward the payment of such of the Secured Obligations, and in such order
of application, as the Lender may from time to time elect; provided that, after
such application, the Lender shall account for the surplus, if any, to Holdco.

     (d)  Holdco agrees that in any sale of any of the Collateral whenever a
Default exists, the Lender is hereby authorized to comply with any limitation or
restriction in connection with such sale as it may be advised by counsel is
necessary in order to avoid any violation of applicable law (including, without
limitation, compliance with such procedures as may restrict the number of
prospective bidders and purchasers, require that such prospective bidders and
purchasers have certain qualifications, and restrict such prospective bidders
and purchasers to persons who will represent and agree that they are purchasing
for their own account for investment and not with a view to the distribution or
resale of such Collateral), or in order to obtain any required approval of the
sale or of the purchaser by any governmental regulatory authority or official,
and Holdco further agrees that such compliance shall not result in such sale
being considered or deemed not to have been made in a commercially reasonable
manner, nor

                                      -7-

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shall the Lender be liable nor accountable to Holdco for any discount allowed by
the reason of the fact that such Collateral is sold in compliance with any such
limitation or restriction. In lieu of exercising the power of sale conferred
upon it by this Agreement, the Lender may proceed by a suit or suits at law or
in equity to foreclose and sell the Collateral. Holdco agrees that the Lender
shall not be liable to Holdco for any loss in the value of the Collateral by
reason of any delay in the sale of the Collateral.

     (e)  In order to sell, dispose or otherwise realize upon the Lien herein
granted and exercise the rights granted the Lender hereunder and under
applicable law, there shall be no obligation on the part of the Lender at any
time to first resort for payment to any guaranty of the Secured Obligations or
any part thereof or to resort to any collateral security, property, Liens or
other rights or remedies whatsoever, and the Lender shall have the right to
enforce the Lien herein granted irrespective of whether or not other proceedings
or steps are pending seeking resort to or realization upon or from any of the
foregoing.

     9.   General.
          -------

     (a)  The Lender shall be deemed to have exercised reasonable care in the
custody and preservation of any of the Collateral in its possession if it takes
such action for that purpose as Holdco requests in writing, but failure of the
Lender to comply with any such request shall not of itself be deemed a failure
to exercise reasonable care, and no failure of the Lender to preserve or protect
any rights with respect to such Collateral against prior parties, or to do any
act with respect to the preservation of such Collateral not so requested by
Holdco, shall be deemed a failure to exercise reasonable care in the custody or
preservation of such Collateral.

     (b)  Any notice, request, instruction or other document to be given
hereunder by a party hereto shall be in writing and shall be deemed to have been
given, (a) when received if given in person or by courier or a courier service,
or (b) on the date of transmission if sent by telex, facsimile or other wire
transmission so long as a copy is delivered by overnight courier the next
Business Day:

          (a)  If to Lender, addressed as follows:

               Security Capital Lodging Incorporated
               125 Lincoln Avenue, Suite 300
               Santa Fe, New Mexico 87501
               Attention: Jeffrey A. Klopf
               Telephone: (505) 820-1201
               Facsimile: (505) 988-8920

               with a copy (which shall not constitute notice) to:

               Mayer, Brown & Platt
               190 South LaSalle Street
               Chicago, Illinois 60603
               Attention: Edward J. Schneidman
               Telephone: (312) 701-7348
               Facsimile: (312) 701-7711

                                      -8-

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          (b)  If to Holdco, addressed as follows:

               BRE/HV Holdings L.L.C.
               c/o Blackstone Real Estate Acquisitions III L.L.C.
               345 Park Avenue, 32nd Floor
               New York, New York 10154
               Attention: Jonathan D. Gray
                          Senior Managing Director
               Telephone: (212) 583-5803
               Facsimile: (212) 583-5573

               with a copy (which shall not constitute notice) to:

               Simpson Thacher & Bartlett
               425 Lexington Avenue
               New York, New York 10017
               Attention: Gregory J. Ressa
               Telephone: (212) 455-7430
               Facsimile: (212) 455-2502

     (c)  Holdco agrees to pay all reasonable and actual expenses (including,
without limitation, reasonable attorney's fees and legal expenses) paid or
incurred by the Lender in endeavoring to collect the Secured Obligations, or any
part thereof, during the existence of a Default and in enforcing this Agreement
against Holdco during the existence of a Default, and such obligations will
themselves be Secured Obligations.

     (d)  No delay on the part of the Lender in the exercise of any right or
remedy shall operate as a waiver thereof, and no single or partial exercise by
the Lender of any right or remedy shall preclude other or further exercise
thereof or the exercise of any other right or remedy.

     (e)  No release from the Lien created by this Agreement of any part of the
Collateral by the Lender shall in any way alter, vary or diminish the force or
effect of the Lien created by this Agreement against the balance or remainder of
the Collateral.

     (f)  This Agreement shall remain in full force and effect until all Secured
Obligations have been paid in full, at which time the Lender shall execute and
deliver to Holdco all instruments and other documents as may be necessary or
proper to release the Lien on the Collateral which has been granted hereunder.
If at any time all or any part of any payment theretofore applied by the Lender
to any of the Secured Obligations is or must be rescinded or returned by the
Lender for any reason whatsoever (including, without limitation, the insolvency
or bankruptcy of Holdco), such Secured Obligations shall, for the purposes of
this Agreement, to the extent that such payment is or must be rescinded or
returned, be deemed to have continued in existence, notwithstanding such
application by the Lender, and this Agreement shall continue to be effective or
be reinstated, as the case may be, as to such Secured Obligations, all as though
such application by the Lender had not been made.

                                      -9-

<PAGE>

     (g)  This Agreement shall be construed in accordance with and governed by
the internal laws of the State of New York. Whenever possible, each provision of
this Agreement shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement shall be held
invalid, illegal or unenforceable, the validity, legality or enforceability of
the other provisions hereof shall not be affected thereby, and there shall be
deemed substituted for the provision at issue a valid, legal and enforceable
provision as similar as possible to the provision at issue.

     (h)  The rights and privileges of the Lender hereunder shall inure to the
benefit of its successors and assigns.

     (i)  This Agreement may be executed in any number of counterparts and by
the different parties hereto on separate counterparts, and each such counterpart
shall be deemed to be an original, but all such counterparts shall together
constitute one and the same Agreement.

     (j)  No amendment to, modification or waiver of, or consent with respect
to, any provision of this Agreement shall in any event be effective unless the
same shall be in writing and signed and delivered by Holdco and the Lender, and
then any such amendment, modification, waiver or consent shall be effective only
in the specific instance and for the specific purpose for which given.

     (k)  At the option of the Lender, this Agreement, or a carbon, photographic
or other reproduction of this Agreement or of any Uniform Commercial Code
financing statement covering the Collateral or any portion thereof, shall be
sufficient as a Uniform Commercial Code financing statement and may be filed as
such.

     (l)  The section headings in this Agreement are inserted for convenience of
reference and shall not be considered a part of this Agreement or used in its
interpretation.

     (m)  Jurisdictions. ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER,
OR IN CONNECTION WITH, THIS AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF
DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF THE LENDER OR
HOLDCO SHALL BE BROUGHT AND MAINTAINED EXCLUSIVELY IN THE COURTS OF THE STATE OF
NEW YORK OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW
YORK; HOLDCO AND THE LENDER HEREBY EXPRESSLY AND IRREVOCABLY SUBMIT TO THE
JURISDICTION OF THE COURTS OF THE STATE NEW YORK AND OF THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSE OF ANY SUCH
LITIGATION AS SET FORTH ABOVE AND IRREVOCABLY CONSENT TO PERSONAL SERVICE WITHIN
OR WITHOUT THE STATE OF NEW YORK. EACH OF HOLDCO AND THE LENDER HEREBY EXPRESSLY
AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION
WHICH IT MAY HAVE OR HEREAFTER MAY HAVE TO THE LAYING OF VENUE OF ANY SUCH
LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY
SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. TO THE EXTENT THAT
HOLDCO OR THE LENDER HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM

                                      -10-

<PAGE>

JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OR
NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OR
OTHERWISE) WITH RESPECT TO ITSELF OR ITS PROPERTY, HOLDCO AND THE LENDER HEREBY
IRREVOCABLY WAIVE SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THIS
AGREEMENT.

     (n)  Waiver of Jury Trial. HOLDCO AND THE LENDER WAIVE ANY RIGHT TO A TRIAL
BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS
AGREEMENT, AND HOLDCO AND THE LENDER AGREE THAT ANY SUCH ACTION OR PROCEEDING
SHALL BE TRIED BEFORE A COURT AND NOT A JURY.

                                      -11-

<PAGE>

     IN WITNESS WHEREOF, this Agreement has been duly executed as of the day and
year first above written.

                                BRE/HV HOLDINGS L.L.C.

                                By: /s/ Jonathan Gray
                                    --------------------------------------------
                                Name: Jonathan Gray
                                Title: Senior Managing Director

                                SECURITY CAPITAL LODGING INCORPORATED

                                By: /s/ Jeffrey A. Klopf
                                    --------------------------------------------
                                Name: Jeffrey A. Klopf
                                Title: Secretary

                                     CONSENT
                                     -------

     The undersigned BRE/HOMESTEAD VILLAGE L.L.C. (the "Pledged Subsidiary")
hereby consents to the pledge of membership interests in the Pledged Subsidiary
by BRE/HV Holdings L.L.C. to Security Capital Lodging Incorporated ("Lodging")
pursuant to the terms of the Pledge Agreement attached hereto.

     The undersigned further agrees that it shall not unreasonably withhold its
consent upon a transfer under the Pledge Agreement of membership interests of
Holdco to any transferee and specifically agrees that in the event of a transfer
to Lodging, it hereby consents thereto.

                                         BRE/Homestead Village, L.L.C.

                                         By: /s/ Jonathan Gray
                                         Title: Senior Managing Director
                                         Dated: November 20, 2001

                                       S-1<PAGE>

                                                                   Exhibit 10.22

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (the "Agreement") effective as of July 22,
1999, is entered into on this 27th day of September 1999 by and between AirGate
PCS, Inc., a Delaware corporation (the "Company"), and David C. Roberts
("Executive") for the period of four years through July 22, 2003.

                                    RECITALS

         A. Executive has been employed by the Company as the VicePresident of
         Engineering and Network Operations.

         B. Executive currently beneficially owns an indirect interest in the
         capital stock of the Company.

         C. The Company filed on May 24, 1999 a registration statement with the
         Securities and Exchange Commission to undertake an initial public
         offering of the capital stock of the Company (the "IPO") that will
         reduce the Executive's current ownership interest in the Company.

         D. The Company and SprintCom, Inc. ("Sprint PCS") have entered into the
         Sprint PCS Management Agreement (the "Management Agreement") dated July
         22, 1998. Capitalized terms not otherwise defined herein shall have the
         meanings ascribed to them in the Management Agreement.

         E. As an inducement to the Company entering into the Management
         Agreement, Executive agreed to certain retention of ownership
         restrictions, restrictions on other business interests (the "Primary
         Business Restriction") and certain restrictions on his employment.
         Executive and the Company acknowledge that the promises and restrictive
         covenants Executive is providing in this Agreement are necessary to the
         Company's protection of its legitimate interests in connection with the
         Management Agreement. Accordingly, Executive and the Company agree to
         enter into this Agreement.

         NOW, THEREFORE, in consideration of the foregoing and the covenants and
agreements herein set forth, the parties hereto agree as follows:

1.       Duties and Scope of Employment. The Company shall employ the Executive
         ------------------------------
as Vice President of Engineering and Network Operations for the Company
reporting to the Chief Executive Officer. The Executive shall render such
business and professional services in the performance of his duties consistent
with Executive's position within the Company and as the Company's Chief
Executive Officer or Board of Directors may reasonably request from time to
time.

2.       Employee Benefits. Executive shall be eligible for (i) all employee
         -----------------
benefit plans and policies currently and hereafter maintained by the Company for
its employees of comparable positions, subject to the terms and conditions of
such plans and policies, and (ii) such other employee benefits as are set

                                        1

<PAGE>

forth in this Agreement.

3.       At-Will Employment. Executive and the Company understand and
         ------------------
acknowledge that Executive's employment with the Company constitutes "at-will"
employment. Executive and the Company acknowledge that this employment
relationship may be terminated at any time, upon four weeks written notice to
the other party (or immediate notice if termination is for cause pursuant to
Section 4(g)), with or without cause or for any or no cause, at the option
either of the Company or Executive.

4.       Compensation.
         -------------

         (a) Base Salary. While employed by the Company pursuant to this
Agreement, the Company shall pay the Executive as compensation for his services
a base salary at the annualized rate of $96,000.00 (the "Base Salary"). Upon
completion of the IPO and concurrent bond financing that generates proceeds to
the Company of at least $215 Million, Executive's salary will be adjusted to
$139,000.00 paid effective as of July 15, 1999. The Base Salary shall be
adjusted annually to increase the Executive's Base Salary by the greater of (i)
the Consumer Price Index for all urban consumers, U.S. City Average, All Items;
or (ii) 5%. Such salary shall be paid periodically in accordance with normal
Company payroll practices and subject to the usual, required withholding and
deductions. Executive understands and agrees that neither his job performance
nor promotions, commendations, bonuses or the like from the Company give rise to
or in any way serve as the basis for modification, amendment, waiver, or
extension, by implication or otherwise, of this Agreement.

         (b) Bonuses. In addition to Executive's Base Salary, Executive shall be
eligible to receive an annual bonus (the "Bonus") at a level generally
established in the industry for the Executive's position and in the target range
of 35% of Executive's Base Salary then in effect, as determined by the Board (in
its sole discretion) in consultation with Executive, and according to the terms
of any applicable Company executive bonus plans. The Bonus shall be payable in
accordance with the Company's normal practices and policies.

         (c) Stock Option. Executive shall be eligible to participate in the
Company's stock option plan at the level established for the position held by
the Executive and in accordance with the Company's stock option plan,
irrespective of his ownership interest in the Company predating the date of this
Agreement. The Company has awarded to the Executive an option to purchase stock
for a total number of 75,000 shares as of the effective date of the stock option
plan and pursuant to its terms.

         (d) Annual Benefits Program. Executive shall be eligible to participate
in an executive benefit/perquisite program as established by the Company at the
level of a senior executive and for a minimum aggregate annual benefit equal to
$10,000. In addition, Executive will be provided health, dental, disability and
life insurance for him and his family under Company policies.

         (e) Termination of Employment. If the Company terminates the
Executive's employment, the Company shall continue until July 22, 2003 to pay
the Executive (1) his Base Salary with an annual adjustment equal to the greater
of (A) the Consumer Price Index for all urban consumers, U.S. City Average, All
Items; or (B) 5%; plus (2) an annual bonus at a rate of 20% of Executive's Base
Salary

                                        2

<PAGE>

(the "Salary Continuation") unless or until:

                (i)      Executive voluntarily terminates his employment with
                         the Company; or

                (ii)     the Company terminates the Executive or the Salary
                         Continuation for cause pursuant to Section 4(g) of this
                         Agreement; or

                (iii)    the Primary Business Restriction expires, is eliminated
                         or is waived by Sprint PCS.

Notwithstanding the foregoing, if the Company terminates Executive's employment
without cause and the requirements of Section 4(e)(iii) are met at that time or
thereafter, Executive shall receive six months Base Salary at the rate in effect
on the date of termination (but in no event beyond July 22, 2003). Executive
shall be entitled to stock options to the extent provided pursuant to the terms
of the Company's stock option plan as an employee under the stock option plan
for the duration of the period of payment of Salary Continuation. The Executive
shall also continue to receive health, dental, disability and life insurance
under the Company's policies so long as the Company continues to pay his Salary
Continuation.

       (f) Continued Employment Obligations. So long as the Company continues to
pay Salary Continuation, Executive agrees to perform such duties as the Company
reasonably requests from time to time, subject to the direction and control of
the Company. Therefore, notwithstanding Executive's termination of employment
with respect to the capacity in which Executive was then serving, Executive
shall continue in his status as an employee of the Company so long as the Salary
Continuation is paid.

       (g) Termination for Cause. The Company may terminate Executive's
employment or the Salary Continuation for cause if the Executive is found to
have violated the requirements set forth in Section 8, Section 9(b) or Section
9(c) of this Agreement. If the Executive's employment or the Salary Continuation
is terminated pursuant to this Section 4(g), the Executive shall not be entitled
to any additional compensation or benefits thereafter.

       (h) Termination by Reason of Death. If Executive's employment terminates
by reason of death, or if Executive dies while receiving Salary Continuation,
the Company shall pay to Executive's legal representative Salary Continuation
for the twelve (12) month period following death (but in no event beyond July
22, 2003). Except as provided in this Section 4(h) or as required by law, Salary
Continuation and all other compensation and benefits provided hereunder shall
cease at death.

5.     Expenses.  The Company will pay or reimburse Executive for reasonable
       --------
travel, entertainment or other expenses incurred by Executive in the furtherance
of or in connection with the performance of Executive's duties hereunder in
accordance with the Company's established policies.

6.     Assignment.  This Agreement shall be binding upon and inure to the
       ----------
benefit of (a) the heirs, executors and legal representatives of Executive upon
Executive's death or incapacity, and (b) any

                                        3

<PAGE>

successor or assign of the Company. Any such successor of the Company shall be
deemed substituted for the Company under the terms of this Agreement for all
purposes. As used herein, "successor" shall include any person, firm,
corporation or other business entity which at any time, whether by purchase,
merger or otherwise, directly or indirectly acquires all or substantially all of
the assets or business of the Company. None of the rights of Executive to
receive any form of compensation payable pursuant to this Agreement shall be
assignable or transferable except through a testamentary disposition or by the
laws of descent and distribution upon the death of Executive. Any attempted
assignment, transfer, conveyance or other disposition (other than as aforesaid)
of any interest in the rights of Executive to receive any form of compensation
hereunder shall be null and void.

7.        Notices. All notices, requests, demands and other communications
          -------
called for hereunder shall be in writing and shall be deemed given if delivered
personally or via overnight delivery with proof of receipt or three (3) days
after being mailed by registered or certified mail, return receipt requested,
prepaid and addressed to the parties or their successors in interest at the
following addresses, or at such other addresses as the parties may designate by
written notice:

          If to the Company:
          AirGate PCS, Inc.
          Harris Tower
          233 Peachtree Street, N.E., Suite 1700
          Atlanta, Georgia 30303
          Attn:  Board of Directors

          If to Executive:
          David C. Roberts
          4216 Moss Creek Court
          Matthews, North Carolina 28105

8.        Ownership Interest Restrictions.
          -------------------------------

          (a) Retention of Ownership Interest. Pursuant to Section 13 of
Addendum II and Addendum III to the Management Agreement ("Addendum II" and
"Addendum III" respectfully), Executive agrees that Executive shall not sell,
transfer (except as otherwise provided in subsection (b) below), assign, gift or
pledge any of Executive's equity or voting interest in any of the entities
listed in Schedule 13 to Addendum II ("Schedule 13") until July 22, 2003 except
for those shares granted to Executive pursuant to the terms of the Company's
stock option plan and such other equity and voting interests that are not within
the scope of Addendum II and Schedule 13.

          (b) Permitted Transfers. Notwithstanding the provisions of Section
8(a), Executive shall be permitted to execute the following transfers:

                  (i)      a transfer of a direct or indirect ownership interest
                           in a Schedule 13 Company to Executive's spouse,
                           child, adopted child, stepchild, grandchild, parent
                           or sibling, or to a trust established for the benefit
                           of any of the foregoing, provided that Executive
                           retains control of the voting rights associated with
                           the ownership

                                        4

<PAGE>

                           interest and remains bound by the terms of Addendum
                           II;

                   (ii)    a transfer upon the death of Executive, provided that
                           such transfer is to one of the Principals named in
                           Addendum II or to a person who agrees to be bound by
                           the requirements of Addendum II; or

                  (iii)    a transfer of up to a maximum of thirty percent (30%)
                           of Executive's equity interest in the entities listed
                           in Schedule 13 after July 22, 2001.

         (c) Invalid Transfers. Executive acknowledges that his failure to
comply with the ownership restrictions set forth in this Section 8 could be
treated as a material default of the Management Agreement by Sprint PCS and
result in irreparable harm to the Company. Executive agrees to maintain his
ownership interests in compliance with the requirements of this Agreement and
the Management Agreement and further agrees that any attempted transfer of his
ownership interests in violation of the requirements of this Agreement or the
Management Agreement shall be invalid and void and agrees that a legend to this
effect will be placed on any certificates or other evidence of such ownership
interests. Executive further agrees to indemnify and hold harmless the Company
and other shareholders of the Company from and against any and all liabilities,
damages, penalties, costs and expenses (including reasonable attorney's fees)
suffered or incurred by reason of Executive's noncompliance and breach of this
Section and to release the Company from any claims relating to termination of
his employment or Salary Continuation and other benefits pursuant to Section 4
of this Agreement. Executive acknowledges that the foregoing indemnity could
amount to tens of millions of dollars. The foregoing indemnity shall not be the
Company's or other shareholders' exclusive remedy in the event of such
noncompliance or breach, such indemnity being cumulative and not in limitation
of any and all other remedies at law or in equity. Any indemnity paid by the
Executive to the Company shall not release or waive any claims that the Company
may have against the Executive.

9.       Restrictions on Employment.
         --------------------------

         (a) Use and Disclosure of Confidential Information. During the period
of two (2) years after Executive's employment has terminated for any reason
whatsoever (or, in the case of trade secrets, for so long as the information in
question remains a trade secret) and during any period Executive is employed by
Employer, Executive shall not, without the prior written consent of the Company,
directly or indirectly, divulge, disclose or publish to any person or entity, or
reproduce or use in any way, except only as required for the benefit of the
Company, any Confidential Information (as defined herein). Upon the Company's
request and, in any event, upon the termination of Executive's employment with
the Company for any reason whatsoever, Executive shall immediately return any
reproductions of Confidential Information to the Company. For purposes of this
Agreement, "Confidential Information" means any trade secrets and any
information relating to the Company's business that is competitively sensitive
and not generally known by the public, including processes, policies,
procedures, techniques, designs, drawings, know-how, show-how, technical
information, technology, specifications, products, computer programs (including
computer programs developed, improved or modified by Executive for or on behalf
of the Company for use in the Company's business), algorithms, systems, methods
of operation, order entry forms, price lists, customer lists, customer
information, solicitation leads, marketing research data, marketing and
advertising materials and methods and manuals and forms, all of which pertain to
the Company's business. Confidential

                                        5

<PAGE>

Information does not include any information which (i) is available in published
print or otherwise known to the public, unless published or made known as a
result of acts or omissions of Executive, or (ii) is lawfully obtained by
Executive in writing from a third party who did not acquire such confidential
information or trade secret, directly or indirectly, from Executive or the
Company.

     (b) Primary Business Restriction. Pursuant to Section 14(a) of Addendum II,
Executive agrees that prior to July 22, 2003, unless the Primary Business
Restriction expires or is eliminated or waived by Sprint PCS, Executive shall
not have a primary business other than his involvement with the Company,
regardless of whether he is currently employed by the Company. Executive
acknowledges that his failure to comply with the restrictions set forth in this
Section 9(b) could be treated as a material default of the Management Agreement
by Sprint PCS and result in irreparable harm to the Company. Executive further
agrees to indemnify and hold harmless the Company and other shareholders of the
Company from and against any and all liabilities, damages, penalties, costs and
expenses (including reasonable attorney's fees) suffered or incurred by reason
of Executive's non-compliance and breach of this Section and agrees to release
the Company from any claims relating to termination of his employment or Salary
Continuation and other benefits pursuant to Section 4 of this Agreement.
Executive acknowledges that the foregoing indemnity could amount to tens of
millions of dollars. The foregoing indemnity shall not be the Company's or other
shareholders' exclusive remedy in the event of such noncompliance or breach,
such indemnity being cumulative and not in limitation of any and all other
remedies at law or in equity. Any indemnity paid by Executive to the Company
shall not release or waive any claim that the Company may have against the
Executive.

     (c) Covenant Not to Compete (the "Covenant Not to Compete"). In addition to
the requirements set forth in Section 9(b), during Executive's employment with
the Company and for a period of eighteen (18) months after Executive's
employment is terminated (excluding any period for which Salary Continuation is
paid), Executive shall not, directly, indirectly, for himself or on behalf of or
in conjunction with any other person, firm or entity.

         (i)   engage in the wireless telecommunications business (the
               "Business") anywhere within the Service Area as defined in
               Addendum I of the Management Agreement (the "Territory").

         (ii)  initiate any action to solicit in competition with the Business
               of the Company or to divert or attempt to divert from the Company
               the Business of any person, firm or entity for which the Company
               provided services in connection with the Business at any time
               during the period of twenty four (24) months immediately
               preceding the time of such solicitation, diversion or attempt to
               divert and with whom Executive had material contact in the course
               of Executive's employment with the Company; or

         (iii) hire for any other employer any employee of the Company or cause
               any employee of the Company to leave his employment in order to
               work for another.

     Executive acknowledges that the Company has conducted and expects to
conduct its business throughout the Territory and that the Company expects that
during the aforesaid period, the Company will continue to expand its Business
throughout the Territory and that this expectation is realistic; that Executive
shall be engaged in the Company's business in his capacity with respect to the
Company's

                                        6

<PAGE>

activities throughout the Territory; and that because of Executive's association
with the Company, the Company's business would be seriously and irreparably
harmed if Executive were to compete with the Company in the manner prohibited
above.

     (d) Change of Control. The restrictions set forth in Section 8 hereof
(entitled "Ownership Interest Restrictions"), and the obligation of Executive to
comply with the Primary Business Restriction (but not the restrictions set forth
in Section 9(a) and 9(c) hereof), shall lapse immediately if at least one-third
(1/3) of the persons who are corporate officers of Sprint and/or Sprint PCS
immediately before an Applicable Change of Control terminate their employment
for any reason within one year following an Applicable Change of Control. For
purposes of this Agreement, (i) "Change of Control" shall have the meaning set
forth in Section 17.15.3(e) of the Management Agreement, and (ii) "Applicable
Change of Control" shall mean a Change of Control of Sprint or Sprint PCS (other
than the Change of Control between Sprint Enterprises, L.P., TCI Telephony
Services, Inc., Comcast Telephony Services and Cox Telephony Partnership, Sprint
Spectrum L.P., SprintCom. Inc., PhillieCo Partners I, L.P., and Cox
Communications PCS, L.P.).

     (e) Injunction; Attorneys' Fees; Setoff. As any breach by Executive of any
of the covenants contained in this Agreement (including this Section 9) would
result in irreparable injury to the Company, and as the damages arising out of
any such breach would be difficult to ascertain, Executive agrees that, in
addition to all other remedies provided by law or in equity, the Company shall
be entitled to an injunction against any such breach, whether actual or
contemplated. If the Company takes any action at law or in equity to enforce its
rights under this Agreement, then in addition to any other relief to which the
Company may be entitled, the Company shall be entitled to reasonable attorneys'
fees, costs and necessary expenses incurred in connection therewith. The Company
shall be entitled to set off against any compensation and other payments of any
kind owed to Executive any amounts owing to the Company as a result of a breach
of this Agreement or otherwise.

10.  Termination. If the Company does not complete its financing, including but
     -----------
not limited to, completion of the IPO, a high yield debt offering and closing of
a senior debt facility by October 31, 1999, or if the Management Agreement is
terminated by Sprint PCS, Executive (if Executive is not then in breach of this
Agreement) may terminate this Agreement.

11.  Entire Agreement. This Agreement and the documents referenced herein
     ----------------
represent the entire agreement and understanding between the Company and
Executive concerning the subject matter hereof, and supersede and replace any
and all prior agreements and understandings concerning such subject matter.

12.  Arbitration and Equitable Relief.
     --------------------------------

     (a) To the extent permitted by applicable law, Executive agrees that any
dispute or controversy arising out of, relating to, or in connection with this
Agreement, or the interpretation, validity, construction, performance, breach or
termination thereof shall be settled by arbitration to be held in Fulton County,
Georgia, in accordance with the National Rules for the Resolution of Employment
Disputes then in effect of the American Arbitration Association (the "Rules").
The arbitrator may grant injunctions or other relief in such dispute or
controversy. The decision of the arbitrator shall be final, conclusive and
binding on the parties to the arbitration. Judgment may be entered on the
arbitrator's

                                        7

<PAGE>

decision in any court having jurisdiction.

     (b) The arbitrator shall apply Georgia law to the merits of any dispute or
claim, without reference to rules of conflict of law. Subject to Section 12(a),
Executive hereby expressly consents to the personal jurisdiction of the state
and federal courts located in Georgia for any action or proceeding arising from
or relating to this Agreement and/or relating to any arbitration in which the
parties are participants.

     (c) Executive understands that nothing in Section 12 modifies Executive's
at-will status. Subject to Section 3, either the Company or Executive can
terminate the employment relationship at any time, with or without cause.

     (d) EXECUTIVE HAS READ AND UNDERSTANDS SECTION 12, WHICH DISCUSSES
ARBITRATION. EXECUTIVE UNDERSTANDS THAT BY SIGNING THIS AGREEMENT, EXECUTIVE
AGREES TO SUBMIT ANY FUTURE CLAIMS ARISING OUT OF, RELATING TO, OR IN CONNECTION
WITH THIS AGREEMENT, OR THE INTERPRETATION, VALIDITY, CONSTRUCTION, PERFORMANCE,
BREACH, OR TERMINATION THEREOF TO BINDING ARBITRATION, AND THAT THIS ARBITRATION
CLAUSE CONSTITUTES A WAIVER OF EXECUTIVE'S RIGHT TO A JURY TRIAL AND RELATES TO
THE RESOLUTION OF ALL DISPUTES RELATING TO ALL ASPECTS OF THE EMPLOYER/EMPLOYEE
RELATIONSHIP, INCLUDING BUT NOT LIMITED TO, THE FOLLOWING CLAIMS:

         (i)   ANY AND ALL CLAIMS FOR WRONGFUL DISCHARGE OF EMPLOYMENT; BREACH
               OF CONTRACT, BOTH EXPRESS OR IMPLIED; BREACH OF THE COVENANT OF
               GOOD FAITH AND FAIR DEALING, BOTH EXPRESS AND IMPLIED; NEGLIGENT
               OR INTENTIONAL INFLICTION OF EMOTIONAL DISTRESS; NEGLIGENT OR
               INTENTIONAL MISREPRESENTATION; NEGLIGENT OR INTENTIONAL
               INTERFERENCE WITH CONTRACT OR PROSPECTIVE ECONOMIC ADVANTAGE; AND
               DEFAMATION.

         (ii)  ANY AND ALL CLAIMS FOR VIOLATION OF ANY FEDERAL STATE OR
               MUNICIPAL STATUTE, INCLUDING, BUT NOT LIMITED TO, TITLE VII OF
               THE CIVIL RIGHTS ACT OF 1964, THE CIVIL RIGHTS ACT OF 1991, THE
               AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, THE AMERICANS WITH
               DISABILITIES ACT OF 1990, AND THE FAIR LABOR STANDARDS ACT;

         (iii) ANY AND ALL CLAIMS ARISING OUT OF ANY OTHER LAWS AND REGULATIONS
               RELATING TO EMPLOYMENT OR EMPLOYMENT DISCRIMINATION.

     (e) Notwithstanding any provision herein to the contrary, this Section 12
shall not apply to any dispute or controversy arising under Section 9 (entitled
"Restrictions on Employment") or the interpretation, validity, construction,
performance, breach or termination thereof.

                                        8

<PAGE>

13.  Severability. In the event that any provision hereof becomes or is declared
     ------------
by a court of competent jurisdiction to be illegal, unenforceable or void, this
Agreement shall continue in full force and effect without said provision.

14.  No Oral Modification, Cancellation or Discharge. This Agreement may only be
     -----------------------------------------------
amended, canceled or discharged in writing signed by Executive and the Company.

15.  Withholding. The Company shall be entitled to deduct or withhold, or cause
     -----------
to be deducted or withheld, from payment any amount of withholding taxes or
other amounts required by law with respect to payments made to Executive in
connection with his employment hereunder.

16.  Governing Law. This Agreement shall be governed by the laws of the State of
     -------------
Georgia.

17.  Acknowledgment. Executive acknowledges that he has had the opportunity to
     --------------
discuss this matter with and obtain advice from his private attorney, has had
sufficient time to, and has carefully read and fully understands all the
provisions of this Agreement, and is knowingly and voluntarily entering into
this Agreement.

18.  Gender. Wherever the context requires, the masculine or feminine gender
     ------
shall include the other gender, and the singular shall include the plural and
vice versa.

                                        9

<PAGE>

IN WITNESS WHEREOF, the undersigned have executed this Agreement on the
respective dates set forth below.

                                   COMPANY:

                                   AIRGATE PCS, INC.

                                   By: /s/ Thomas M. Dougherty
                                       ---------------------------------
                                   Name/Title: President and CEO
                                   Date: September 27, 1999

                                   EXECUTIVE: /s/ David C. Roberts
                                              --------------------

                                   Date: September 27, 1999

                                       10

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