Document:

EX-10.3

 Exhibit 10.3 

MASTER TRANSITION SERVICES AGREEMENT 

by and between 
 LA
QUINTA HOLDINGS INC. 
 and 

COREPOINT LODGING INC. 

Dated as of [•], 2018 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 1.
	  	Services Provided	  	 	3	 
	 2.
	  	 Consideration
	  	 	6	 
	 3.
	  	 Cooperation
	  	 	8	 
	 4.
	  	 Performance Standard; Reports; Personnel
	  	 	9	 
	 5.
	  	 New Services
	  	 	11	 
	 6.
	  	 Intellectual Property; IT Security
	  	 	12	 
	 7.
	  	 Records
	  	 	14	 
	 8.
	  	 Force Majeure; Reduction of Services
	  	 	14	 
	 9.
	  	 TSA Managers; Steering Committee; Dispute Resolution
	  	 	15	 
	 10.
	  	 Disclaimer; Limited Liability; Indemnity
	  	 	16	 
	 11.
	  	 Term and Service Termination Dates
	  	 	17	 
	 12.
	  	 Independent Contractor
	  	 	19	 
	 13.
	  	 Confidentiality
	  	 	19	 
	 14.
	  	 Audit Rights
	  	 	20	 
	 15.
	  	 Fees and Expenses
	  	 	21	 
	 16.
	  	 Beneficiary of Services; No Third Party Beneficiaries
	  	 	21	 
	 17.
	  	 Entire Agreement
	  	 	21	 
	 18.
	  	 Amendment; Waiver
	  	 	22	 
	 19.
	  	 Notices
	  	 	22	 
	 20.
	  	 Non-Assignability
	  	 	23	 
	 21.
	  	 Further Assurances
	  	 	23	 
	 22.
	  	 Definitions and Rules of Construction
	  	 	23	 
	 23.
	  	 Counterparts; Effectiveness
	  	 	24	 
	 24.
	  	 Section Headings
	  	 	24	 
	 25.
	  	 Severability
	  	 	24	 
	 26.
	  	 Governing Law
	  	 	24	 
	 27.
	  	 Consent to Jurisdiction
	  	 	24	 
	 28.
	  	 Waiver of Jury Trial
	  	 	25	 

 MASTER TRANSITION SERVICES AGREEMENT 

This Master Transition Services Agreement (this “Agreement”) is entered into as of [•], 2018, by and between La Quinta
Holdings Inc., a Delaware corporation (“LQ Parent”), and CorePoint Lodging Inc., a Maryland corporation (“CPLG”). Each of LQ Parent and CPLG is sometimes referred to herein as a “Party” and,
collectively, as the “Parties.” Capitalized terms used herein and not otherwise defined herein have the meanings given to such terms in the Separation and Distribution Agreement, entered into on the date hereof, by and between LQ
Parent and CPLG (as such may be amended from time to time, the “Distribution Agreement”). 
 W I T
N E S S E T H : 
 WHEREAS, the Board of Directors of LQ Parent has determined that it
is advisable and in the best interests of LQ Parent and its stockholders to separate, pursuant to and in accordance with the Distribution Agreement, LQ Parent into two separate, publicly traded companies, one for each of (i) the LQ Parent
Retained Business, which shall be owned and conducted, directly or indirectly, by LQ Parent and (ii) the Separated Real Estate Business, which shall be owned and conducted, directly or indirectly, by CPLG (which will elect to be a REIT); 

WHEREAS, prior to the Distribution Date, CPLG and its Subsidiaries received certain services from LQ Parent and its Subsidiaries, and LQ
Parent and its Subsidiaries received certain services from CPLG and its Subsidiaries; and 
 WHEREAS, in order to provide for an orderly
transition under the Distribution Agreement, each of LQ Parent and CPLG desires to provide to the other certain services for specified periods following the Distribution Date, all in accordance with and subject to the terms and conditions set forth
herein. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements of the Parties contained herein, the Parties agree as
follows: 
 1. Services Provided. 

(a) Unless otherwise agreed by the Parties in writing in advance, with respect to each Service (as defined in
Section 1(b)), the Party required to provide such Service is the “Service Provider” and the other Party is the “Service Recipient.” In performing the Services, Service Provider and each of
its Affiliates shall provide, or shall use commercially reasonable efforts to ensure that any Third Party Provider (as defined in Section 1(b)) provide, the Services in the same manner, within the same amount of time and at
the same level of service (including, as applicable, with respect to type, scope, frequency, quality and quantity), with the same degree of reasonable skill and care and with the same level of security and control as provided and used in providing
the Services during the twelve (12) month period prior to the Distribution Date (excluding any actions taken in contemplation of the Distribution) (or, if a Third Party Provider is providing Services that were not provided to Service Recipient
during the twelve (12) month period prior to the Distribution Date as provided in Section 1(b), then use such efforts to ensure such Third Party Provider shall perform such Services in accordance with customary
industry practices for the provision of such Services). If there is a material change in the type, scope, 

  
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frequency, quality or quantity of Services with respect to Service Recipient’s business following the date hereof (including as a result of an increase in volume of Service Recipient’s
business as conducted or a change in the manner in which Service Recipient’s business is being conducted), including which change would result in an increase in Service Provider’s costs in any material respect that are not fully reimbursed
hereunder, then Service Recipient shall be permitted to request such change or increase in the type, scope, frequency, quality or quantity of Services, and the Service Provider shall consider such request in good faith, including the corresponding
increase in the calculation of the Applicable Rate. If such request is approved by the Service Provider, the Parties shall subsequently amend Schedule A to reflect any applicable changes. 

(b) During the period commencing on the Distribution Date and ending on the date that is twelve (12) months from the date hereof, unless
an earlier or later date is otherwise specified for a Service on Schedule A hereto (for each such Service, such end date, as it may be extended pursuant to this Section 1(b), being herein referred to as the
“Termination Date,” with Schedule A being herein referred to as the “Services Schedules”), Service Provider shall provide, shall cause one or more of its Affiliates to provide, or shall cause a contractor,
subcontractor, vendor or other third-party service provider (each, a “Third Party Provider”) to provide, upon the terms and subject to the conditions set forth herein, the services described on the Services Schedules (the
“Services”); provided, Service Provider shall obtain the consent of Service Recipient (not to be unreasonably withheld, delayed or conditioned) in the event any such Service is to be provided by a Third Party Provider or
Affiliate (other than a Subsidiary) if such Services were not provided by such Third Party Provider or Affiliate to Service Recipient during the twelve (12) month period prior to, the Distribution Date (“Look Back”) and the
provision of such Services by such Third Party Provider or Affiliate would materially adversely affect the level of service, security or control of such Service or the scope or content thereof required pursuant to Sections 1(a) and
4(a) above, and Service Provider shall use the same degree of care in selecting any Third Party Provider as it would if such Third Party Provider were being retained to provide similar services to Service Provider; provided
further, Service Provider shall remain liable for the performance by any such Third Party Provider or Affiliate of its obligations hereunder. Service Recipient may elect to extend the Termination Date applicable to a Service for one
(1) month (the “Extension Period”) by providing Service Recipient written notice of such extension no less than thirty (30) days’ prior to the applicable Termination Date. In the event Service Recipient requires a
Service beyond such Extension Period, Service Recipient shall provide Service Provider with a written notice of extension no later than fifteen (15) days prior to the expiration of the Extension Period for such Service, indicating the period
during which Service Recipient wishes to receive such Service after the date of the expiration of the Extension Period, and the Service Provider shall consider such request in good faith, including the terms and conditions of such extension. 

(c) Irrespective of whether Service Provider, a Third Party Provider or Affiliate is providing a Service, Service Recipient may direct that any
such Service be provided directly to Service Recipient or any other member of such Party’s Group. Each Service shall include, where provided during the Look Back, all functions, responsibilities, activities and tasks, and the materials,
documentation, resources, rights and licenses to be used, granted or provided by Service Provider that are not specifically described in this Agreement as part of such Service, but are incidental to, and would normally be considered an inherent part
of, or necessary subpart included within, such Service or are otherwise necessary to such Service. 

  
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Notwithstanding any other provision of this Agreement, a Service Provider shall not be obligated to provide, or cause to be provided, any Services to the extent such provision would materially
increase or change Service Provider’s or its Affiliates’ burden with respect to compliance with any applicable Laws unless Service Recipient agrees to bear all associated costs and expenses with respect to such increased compliance burden.
For the avoidance of doubt, each of Service Provider and Service Recipient shall be responsible for its own respective compliance with any all Laws applicable to the provision or receipt of the Services pursuant to this Agreement. 

(d) Each Service provided hereunder shall be terminated on its applicable Termination Date, unless otherwise terminated earlier by Service
Recipient or Service Provider pursuant to Section 11. If requested by Service Recipient, in connection with the expiration or the earlier termination or reduction of any Service or this Agreement, Service Provider shall
use, and shall cause its Affiliates to use, commercially reasonable efforts to reasonably assist Service Recipient, as may be reasonably requested by Service Recipient, in connection with the transition of the provision of the Services by Service
Provider to the provision of the Services by Service Recipient and/or any other Affiliate of Service Recipient and/or any of their third-party contractors, taking into account the objective of minimizing the disruption to Service Recipient’s
business. 
 (e) Limitations on Services. 

(i) Notwithstanding anything to the contrary contained herein or in the Services Schedules, Service Provider shall have no
obligation under this Agreement to: (1) operate the business of Service Recipient or any members of the Service Recipient’s Group or any portion thereof; (2) advance funds; (3) provide any Service to the extent that the provision
of such Service would require Service Provider to violate any applicable Law; (4) provide any Service to the extent Service Recipient has breached (or through its actions or omissions has caused Service Provider to be in breach of or default
under) or Service Provider would breach any applicable obligations under, or requirements of, any contract or arrangement with any Third Party Provider (“Third Party Provider Use Requirements”) engaged with respect to such Service
(provided that Service Recipient shall first be permitted to attempt to cure such breach or default within thirty (30) days from receipt of notice thereof if such breach or default is capable of being cured); (5) implement processes,
plans or initiatives developed, acquired or utilized by Service Recipient after the Distribution Date except as otherwise agreed; or (6) perform or cause to be performed any of the Services for the benefit of any third party. 

(ii) All employees and representatives of Service Provider, members of its Group and its Affiliates shall be deemed for all
purposes to be employees or representatives of Service Provider, members of its Group or such Affiliates, as applicable. In performing the Services, such employees and representatives shall be under the direction, control and supervision of Service
Provider, members of its Group or the applicable Affiliate thereof, and Service Provider, members of its Group and its Affiliates shall have the sole right to exercise all authority with respect to the employment (including termination of
employment), assignment and compensation of such employees and representatives. 

  
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 2. Consideration. 

(a) Costs and Fees. 

(i) Subject to Sections 2(a)(v) and 2(a)(vi), for each Service, Service Recipient shall pay (in accordance with
Section 2(b)) Service Provider an amount equal to the Applicable Rate. The “Applicable Rate” for each Service shall be an amount equal to the rate as set forth on the applicable Services Schedule (which
rate reflects the Parties’ good faith estimate as to the cost of such Service to Service Provider, excluding any sales, transfer, goods, services, value added, use, gross receipts or similar taxes, fees, charges, penalties, fees, or assessments
related to the Services (“Service Taxes”)) or, if a Services Schedule is silent regarding such rate, the Service Provider’s allocated costs (including salary, wages and benefits) for any of its (or its Affiliates’)
employees involved in providing Services; provided that, any fees or costs incurred in connection with any Third Party Consent or Alternative Method in accordance with Section 3(c) shall be borne equally by Service
Recipient and Service Provider. Service Recipient shall pay all Service Taxes assessed with respect to any Service, plus such additional amounts so that after any required deduction or withholding for such Service Taxes, the Service Provider
receives the same amount that it would have received but for the deduction or withholding. Service Provider may invoice Service Recipient for Services Taxes if required under Law. 

(ii) Service Provider shall use commercially reasonable efforts to retain its workforce required to provide the Services.
Service Provider shall be responsible for Service Provider’s severance costs incurred as a result of terminating an employee who is primarily engaged in providing a Service in connection with the termination of such Service. 

(iii) Unless the Parties otherwise agree in writing, (1) where Services are provided in a country outside of the United
States by a Person located in the same country, amounts shall be invoiced and paid in the local currency of the Person providing the Services and (2) if payments are to be made between Persons not within the same country, such amounts shall be
invoiced and paid in U.S. Dollars. To the extent necessary, local currency conversion on any such invoice shall be based on Service Provider’s internal exchange rate for the then-current month, based upon the average for such month, as
calculated consistently with how such local currency conversion was calculated in the twelve (12) month period prior to the Distribution Date. 

(iv) All charges based on a monthly or other time basis will be pro-rated based on
actual calendar days elapsed during the period of service. 
 (v) With respect to any Service that a Service Provider
provides or causes an Affiliate to provide to itself or its Affiliates that is the same or substantially similar to a Service provided to Service Recipient or its Subsidiaries hereunder (such service, a “Self-Service”), if Service
Provider determines to no longer provide such Self-Service to itself or its Affiliates, Service Provider shall notify Service Recipient of such termination no later than the number of days prior to such termination as is provided in
Section 11(b) for 

  
 6 

 
terminating the corresponding Service. In no event shall a termination of a Self-Service result in an increase in the Applicable Rate. Notwithstanding the foregoing, Service Provider shall
continue to provide the Service in accordance with the provisions of this Agreement, unless such Service is otherwise terminated pursuant to Section 11, and Service Provider shall not be permitted to terminate any
Self-Service prior to the Termination Date for the applicable Service if such termination would materially adversely affect the level of service, security or control of such Service or the scope or content thereof required pursuant to Sections
1(a) and 4(a). 
 (vi) If Service Recipient terminates a Service prior to the end of the Termination Date
applicable for the corresponding Service pursuant to Section 11(b), Service Recipient shall be relieved of its obligation to pay for such Service from and including the early termination date for such Service. In connection
with any reduction by Service Recipient pursuant to Section 11(b) of a Service that does not constitute a full termination of a Service, the Parties will cooperate in good faith to determine an appropriate reduction (if
any) in the Applicable Rate for such reduced Service. 
 (b) Invoices and Payment. 

(i) Service Provider shall invoice Service Recipient for the amounts owed hereunder in arrears on a calendar monthly basis, and
shall provide reasonable documentation supporting such amounts owed pursuant to Section 2(a), including invoices from Third Party Providers. For each month, the Parties shall coordinate the delivery of invoices and the
Party owing the larger amount (the “Payor”) shall offset the amount owed by the other Party (the “Payee”) and shall make one payment to the Payee which reflects the net amount under all such invoices by electronic transfer of
immediately available funds not later than forty-five (45) days after the date of Payee’s invoice. In the event Payor does not pay Payee in accordance with the terms hereof, such amount so payable and past due shall accrue interest from
the forty-fifth (45th) day after the date of the Payee’s invoice or the date of termination, as applicable, to the receipt of payment at a rate per month equal to the lower of one
percent (1%) and the highest rate permitted by Law (the “Interest Rate”) until such amounts, together with all accrued and unpaid interest thereon, are paid in full. 

(ii) In the event that Service Recipient in good faith disputes an invoice submitted by Service Provider, Service Recipient may
withhold payment of any amount subject to the dispute; provided, however, that (x) Service Recipient shall continue to pay all undisputed amounts in accordance with the terms hereof, and (y) Service Recipient shall notify
Service Provider, in writing, of any disputed amounts and the reason for any dispute by the due date for payment of the invoice containing any disputed charges. In the event of a dispute regarding the amount of any invoice, the Parties shall use all
reasonable efforts to resolve such dispute within thirty (30) days after Service Recipient provides written notification of such dispute to Service Provider. Each Party shall provide full supporting documentation concerning any disputed amount
or invoice within twenty (20) days after written notification of the dispute. Unpaid fees that are under good faith dispute shall not be considered a basis for default hereunder. To the extent that a dispute regarding the amount of any invoice
cannot be resolved pursuant to this Section 2(b)(ii), the dispute resolution procedures set forth in Section 9 herein shall apply. 

  
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 (c) Migration and Integration; Disconnection and Disintegration. 

(i) Service Recipient shall be responsible for planning, preparing and integrating the transition of the provision of each of
the Services to its own internal organization or other third-party service providers, and shall use commercially reasonable efforts to prepare, within sixty (60) days after the Distribution Date (“Migration Planning Period”), a
plan in order to transition off each Service by the end of the term for such Service (“Migration Plan”); provided, however, that Service Recipient will not be deemed to have violated its obligations with respect to
preparation of the Migration Plan if Service Recipient (1) fails to complete the Migration Plan within the Migration Planning Period, (2) has been working, and thereafter continues to work, in good faith and without undue delay to
expeditiously prepare the Migration Plan and (3) completes the Migration Plan no later than ninety (90) days after the Distribution Date. At Service Recipient’s reasonable request, Service Provider shall reasonably assist, and shall
use commercially reasonable efforts to cause any Third Party Provider to reasonably assist, Service Recipient in connection with the implementation of Service Recipient’s transition plan, which may include consulting and training and providing
reasonable access to its data and other information and to Service Provider’s employees, but which shall take into account the need to minimize the cost of such migration and the disruption to the ongoing business activities of Service Provider
and its Affiliates and shall not unduly burden or interfere with Service Provider’s business and operations. Service Provider shall have no obligation, in connection with the Service Recipient’s migration or transition of Service Recipient
from the Services to other services, to negotiate agreements for Service Recipient, install, implement, or integrate any systems, networks, or other IT infrastructure, convert or migrate data, or undertake any similar activities. 

(ii) In furtherance of the foregoing, Service Recipient shall use commercially reasonable efforts to make or obtain any
approvals, permits and licenses and implement any systems as may be necessary for it to perform the Services independently in each applicable jurisdiction as soon as practicable following the Distribution Date. 

3. Cooperation. 
 (a) It
is understood that it will require significant efforts by the Parties to implement this Agreement and ensure performance hereunder. The Service Recipient shall: (i) once the other Party has informed the Service Recipient of its need for
information, cooperate with and provide such information and documentation to the other Party as is reasonably necessary for Service Provider to perform the Services and for Service Recipient to meet its obligations under this Agreement;
(ii) notify the other Party of any changes to operating environments or key personnel to the extent related to the provision of the Services; (iii) provide timely decisions, approvals and acceptances required to perform the obligations
hereunder in a timely and efficient manner; and (iv) perform such other duties and tasks as may be reasonably required to permit Service Provider to perform the Services or for Service Recipient to meet its obligations under this Agreement,
including (A) cooperating in obtaining any Third Party 

  
 8 

 
Consents necessary to facilitate Service Provider’s ability to provide the Services and (B) upon thirty (30) days’ prior written notice by Service Provider, conducting such
testing as may be reasonably required by Service Provider in connection with any updates or changes to the applicable systems or processes involved in providing a Service. Service Provider shall not be deemed to be in breach of its obligations to
provide or make available any Service to the extent that Service Recipient has not provided information or access to appropriate personnel, facilities, or assets that are reasonably necessary for the performance of such Service. Service Provider (or
an Affiliate or Third Party Provider designated by such Service Provider) shall be entitled to rely upon the genuineness, validity or truthfulness of any document, instrument or other writing presented by Service Recipient in connection with this
Agreement. 
 (b) Upon Service Recipient’s written request and without prejudice to Service Recipient’s direct rights against a
Third Party Provider, Service Provider shall use commercially reasonable efforts to request or pass-through any warranty or indemnity under any contract Service Provider or its Subsidiaries may have with a Third Party Provider with respect to any
Service to be provided to Service Recipient by such Third Party Provider. 
 (c) Service Provider shall use commercially reasonable efforts
to (and Service Recipient shall cooperate with Service Provider to) obtain in a cost effective manner any necessary waivers, permits, license, consents or similar approvals with respect to agreements with third parties in order for Service Provider
to provide the Services directly or indirectly (any such waiver, permit, consent, license or similar approval, a “Third Party Consent”). If a Third Party Consent cannot be obtained on reasonable terms or after using commercially
reasonable efforts, Service Provider will use commercially reasonable efforts to arrange for an alternative method of obtaining any such Service on Service Recipient’s behalf in a cost effective manner (“Alternative Method”),
which may include Service Provider providing such Service itself. If there is any Third Party Consent which was not required as of the date hereof but will subsequently be required before the Termination Date for a particular Service, Service
Provider shall identify in writing to Service Recipient such Third Party Consent prior to the later of (x) thirty (30) days of the date hereof and (y) three (3) Business Days of Service Provider becoming aware that such Third Party
Consent is required. 
 4. Performance Standard; Reports; Personnel. 

(a) Except as otherwise expressly provided in the Services Schedule and Section 1(a) herein, nothing in this
Agreement shall require or be interpreted to require Service Provider to provide a Service to Service Recipient beyond the scope and content of such Service as provided by Service Provider to the LQ Parent Retained Business or Separated Real Estate
Business, as the case may be (the “Applicable Business”), during the twelve (12) month period prior to the Distribution Date, excluding any actions taken in contemplation of the Distribution (or, if a Third Party Provider is
providing Services that were not provided to Service Recipient during the twelve (12) month period prior to the Distribution Date as provided in Section 1(b), then as provided by such Third Party Provider to the LQ
Parent Retained Business or Separated Real Estate Business, as the case may be, during the twelve (12) month period prior to the Distribution Date). 

  
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 (b) Service Provider shall not make changes in the manner of providing a Service unless
(i) such changes are immaterial or do not materially adversely affect the level of service, security or control of such Service or the scope or content thereof required pursuant to Sections 1(a) and 4(a) above,
(ii) such changes are required by Service Provider or Service Recipient pursuant to applicable Law (including changes required by Service Provider or Service Recipient in connection with the provision of the Services to the other Party) or
(iii) Service Recipient provides its prior written consent (which shall not be unreasonably withheld, conditioned or delayed) to such changes. All Services shall be performed in compliance with applicable Law, including all applicable U.S. and non-U.S. laws and regulations relating to export controls, sanctions, and imports, including without limitation those regulations maintained by the U.S. Department of the Treasury’s Office of Foreign Assets
Control and the U.S. Department of Commerce, Bureau of Industry and Security. 
 (c) In performing the Services, Service Provider shall
prepare and furnish to Service Recipient reports concerning the Services with such reports to contain substantially the same data, in substantially the same format, and prepared and delivered on substantially the same timetable, as reports prepared
during the twelve (12) month period prior to the Distribution Date (excluding any reports solely prepared in contemplation of the Distribution), except as may be otherwise required by Service Recipient or Service Provider pursuant to applicable
Law. Upon Service Recipient’s written request for reasonable modifications to the reporting and data transfer practices reasonably required to assist Service Recipient in transitioning off the Service, Service Provider shall cooperate and
consult in good faith with Service Recipient to make such modifications; provided that if Service Provider reasonably determines in its sole discretion that any such modification may cause Service Provider to be in breach of its obligations
to the other Party hereunder (including as a result of breaching its obligations as a Service Provider to the other Party as Service Recipient), then Service Provider shall not be under any obligation to make such modifications. 

(d) Service Provider shall use commercially reasonable efforts consistent with past practice to make available such personnel as may be
required to provide the Services. Service Provider shall have the right to designate which personnel it will assign to perform the Services; provided that the personnel performing the Services shall have substantially the same expertise as
the personnel performing such Services (or similar Services) for Service Provider’s own business at such time. Service Provider also shall have the right to remove and replace any such personnel at any time or designate any of its Subsidiaries
or a Third Party Provider (subject to Section 1(b) herein) at any time to perform the Services; provided, however, that Service Provider shall use its commercially reasonable efforts consistent with past
practice to limit the disruption to Service Recipient in the transition of the Services to different personnel. Subject to and consistent with Section 2(a)(ii), Service Provider shall have no obligation to retain any
particular individual employee or any particular Third Party Provider or to employ additional personnel in order to provide a particular Service. 

(e) In the event Service Recipient or any of its Subsidiaries hires away an employee of Service Provider or its Subsidiaries, and prior to
being hired away by Service Recipient such employee was providing Services to Service Recipient, Service Provider shall have the option, in its sole discretion (in addition to any other remedies available to it under the Distribution Agreement or
otherwise), upon ten (10) Business Days’ written notice to Service 

  
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Recipient to reduce its obligations with respect to such Service (with a proportionate reduction in the applicable portion of the Applicable Rate) effective on the date of such employee’s
termination of employment with Service Provider. Any provision of Service thereafter pursuant to such a reduction in Service Provider’s obligations shall be deemed to be consistent with Service Provider’s obligations under this Agreement,
so long as Service Provider satisfies the other obligations contained in this Section 4 with respect to such Service. Notwithstanding the foregoing, nothing in this Section 4(e) shall be deemed to
modify, amend or waive the non-solicitation and no-hire restrictions set forth in Section 5.3 of the Distribution Agreement. 

(f) Each Party agrees that it shall take appropriate action by instruction of or agreement with its personnel (including any Third Party
Provider) to ensure that all such personnel performing or otherwise involved with Services shall comply with all of the terms and conditions of this Agreement. 

(g) In the event Service Provider has received a notice of default, breach or error in the performance of a Service hereunder (including as a
result of substantial errors in the performance of such Service), it will use its commercially reasonable efforts to cure such default, breach or error. In the event Service Provider is unable to cure such default, breach or error within thirty
(30) days from receipt of notice thereof, in addition to the rights available under Section 11, there shall be an adjustment to the Applicable Rate to reflect the costs to Service Recipient associated with curing such
default, breach or error, including any reasonable out-of-pocket costs and expenses incurred by Service Recipient in retaining any Third Party Provider to provide such
Service or in providing such Service itself. 
 (h) Each Party shall notify the other Party as promptly as practicable after becoming aware
of any breach of this Agreement committed by either it or any of its Affiliates or Third Party Providers. Service Provider shall notify Service Recipient of any event of which it becomes aware that may reasonably be expected to materially impact a
Service provided hereunder, which may include a Termination Notice (as defined in Section 11(b)) provided by the other Party as Service Recipient hereunder or a notice of termination of a Self-Service, issued pursuant and
in accordance with, Section 2(a)(v). 
 5. New Services. 

If, after the date hereof and on or prior to thirty (30) days following the Effective Time, the Parties determine that a service required
by Service Recipient and provided by Service Provider or one of its Subsidiaries to the Applicable Business during the Look Back prior to the Distribution Date was omitted from the Services Schedules, Service Recipient may request that Service
Provider perform such service (“New Service”) in addition to the Services being provided hereunder. Service Provider shall promptly begin performing any New Service consistent with past practice upon a timely written request from
Service Recipient (which request may be in the form of email) including (i) a description of the work Service Recipient anticipates being performed by Service Provider in connection with such New Service and (ii) a schedule for commencing
and completing such New Service, and Service Provider and Service Recipient shall enter into good faith negotiations to agree to an amendment to the Services Schedules providing for such New Service for a mutually agreed-upon time period, with the
Applicable Rate as provided for in Section 2(a)(i), calculated as if the amendment to the Services Schedule 

  
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for such New Service were silent regarding costs and expenses (such amendment or deemed amendment pursuant to the foregoing proviso, an “Additional Service Schedule Amendment”).
Any New Service shall be considered a Service hereunder and the Services Schedules shall incorporate, and be deemed to be duly amended by, such Additional Service Schedule Amendment. 

6. Intellectual Property; IT Security. 

(a) Except as provided in the Services Schedules, the Applicable Rate shall include the allocable portion of any amounts that are required to
be paid by Service Provider to any third party licensors of software that is used by Service Provider in connection with the provision of any Services hereunder, including (i) license, right-to-use and royalty fees, but excluding (ii) any amounts required to obtain the consent of such licensors to allow Service Provider to provide any of the Services hereunder. Service Recipient agrees
to comply and cause its Subsidiaries to comply with the terms of any license or other agreement of Service Provider or any of its Subsidiaries relating to software that is provided to Service Recipient and is used in connection with the provision of
any Services hereunder, including as specified in the Third Party Provider Use Requirements; provided that in the event that Service Provider enters into new software licenses after the Distribution Date, Service Provider may provide Service
Recipient the prior opportunity to review and confirm its ability to comply therewith, which it shall do in good faith. In the event that Service Recipient provides notice of its inability to comply therewith, Service Provider may at its sole
discretion discontinue its provision of any Services under such new software licenses effective thirty (30) days after notice of the same, and Service Recipient shall indemnify Service Provider for any claims by third parties arising out of or
in connection with Service Recipient’s noncompliance or violation of such software licenses; provided that, for the avoidance of doubt, Service Recipient’s delivery of such notice will not affect Service Recipient’s obligation
to comply with all Third Party Provider Use Requirements applicable to Services already in use by Service Recipient. Subject to the foregoing, Service Provider shall use commercially reasonable efforts to obtain any consent that may be required from
such licensors in order to provide any of the Services hereunder and the Parties shall cooperate to identify any material licenses or consents necessary for such provision and shall use commercially reasonable efforts to minimize the costs
associated therewith. 
 (b) If the receipt or provision of any Service hereunder requires the use by a Party of the patents, know-how, trade secrets, methods and processes (excluding Customer Information and Loyalty Program Information) of the other Party, then, subject to applicable restrictions contained in Service Provider’s
contracts with Third Party Providers, such Party and its Subsidiaries shall have the non-exclusive, royalty-free, non-sublicensable (except as required for its and its
Subsidiaries’ receipt or provision of Services) right and license to use such Intellectual Property for the sole purpose of, and only to the extent necessary for, the receipt or provision of such Services hereunder, pursuant to the terms and
conditions of this Agreement. Upon the Termination Date applicable to such Service, or the earlier termination of any Services in accordance with Section 11, the license herein to the applicable Intellectual Property will
terminate, and the applicable Service Recipient and/or Service Provider shall cease all use of the Intellectual Property licensed hereunder. The applicable Service Recipient and/or Service Provider acknowledges that it will acquire no right, title
or interest (including any license rights or rights of use) in any firmware or software, or the licenses therefor which are held by the 

  
 12 

 
applicable Service Provider and/or Service Recipient, by reason of the provision or receipt of the Services provided hereunder, except to the extent that any such license rights or rights of use
are provided for in a written agreement signed by Service Provider and Service Recipient. Nothing in this Section 6(b) shall be deemed to limit, modify or terminate any License Agreement between the Parties. 

(c) Subject to the limited licenses granted in Section 6(b), each Party shall exclusively own any Intellectual
Property that it creates, develops or invents in connection with the provision of any Services hereunder. 
 (d) While using or accessing any
computers, systems, software, networks, information technology or related infrastructure or equipment (including any data stored thereon or transmitted thereby) (“Systems”) of the other Party (whether or not a Service), each Party
shall, and shall cause each of its Subsidiaries to, adhere in all respects to the other Party’s controlled processes, policies and procedures (including any of the foregoing with respect to Confidential Information, data, communications and
system privacy, operation, security and proper use) as in effect on the Distribution Date or as communicated to such Party from time to time in writing. 

(e) Service Provider and Service Recipient shall each maintain reasonable, current security measures (i) to prevent unauthorized access to
its systems and (ii) with respect to all data contained in its facilities, networks and systems and used in connection with the Services. Such measures shall in no event be less stringent than those used to safeguard such Party’s own
property, or industry standard security measures used by companies of a similar size. Such measures shall include, where appropriate, use of updated firewalls, virus screening software, logon identification and passwords, encryption, intrusion
detection systems, logging of incidents, periodic reporting, and prompt application of current security patches, virus definitions and other updates. Service Recipient shall not install any new equipment, software or technology or modify the setup
of any existing equipment, software or technology that is, or will be, connected to Service Provider’s facilities, networks or systems without the prior consent of Service Provider. 

(f) Service Provider may suspend Service Recipient’s access (if any) to the information technology or communications systems used by
Service Recipient following advance written notice to the extent practicable if, in Service Provider’s reasonable opinion (i) the integrity, security or performance of its systems, or any data stored on them, is being or is likely to be
jeopardized by the activities of Service Recipient, or (ii) continued access to those information technology or communications systems by Service Recipient would expose Service Provider to liability. Service Recipient shall take appropriate
corrective actions and if such actions fully resolve the matter (as determined by Service Provider in its sole discretion), Service Provider shall restore such access to Service Recipient. 

(g) Each Party reserves the right to terminate all Services that provide access to such Party’s information technology or communications
systems, in its sole discretion and without limitation or termination liability, if Service Recipient or Service Provider, as applicable, remains in breach of this Section 6 five (5) Business Days after receipt of
notice of such breach. Service Provider and Service Recipient acknowledge that the security measures used by the other as of the date of this Agreement are in compliance with this Section 6. 

  
 13 

 (h) Each Party will comply with all applicable privacy and other Laws and regulations relating to
protection, collection, use, and distribution of information (including Customer Information) received by a Party in connection with the Services that can be associated with or traced to any individual, including an individual’s name, address,
telephone number, e-mail address, credit card information, social security number, or other similar specific factual information, regardless of the media on which such information is stored (e.g., on paper or
electronically), and which includes certain of such information that is generated, collected, stored or obtained as part of this Agreement, including transactional and other data pertaining to users (“Personally Identifiable
Information”). In no event may a Party sell or transfer the other’s Personally Identifiable Information to third parties other than its Affiliates, or otherwise provide third parties other than its Affiliates with access thereto,
except (i) as may be allowed pursuant to other written agreements between the Parties, or (ii) in the case of Service Provider, to any of its Third Party Providers assisting Service Provider with the performance of the Services hereunder
to the extent reasonably necessary for the performance of such Services. If there is an actual breach of security involving Personally Identifiable Information, the responsible Party will notify the other Party’s counsel within twenty four
(24) hours of a management-level associate becoming aware of such occurrence. 
 (i) Those Third Party Providers (and their personnel)
of Service Recipient and Service Provider (or their respective Affiliates) having access to the other Party’s Systems may be required by Service Provider or Service Recipient, as the case may be, to enter into a customary non-disclosure agreement in connection with, and as a condition to, such access. 
 7. Records.

 For a period ending on the later of (x) the seven (7) year anniversary from the close of each fiscal year of the Service
Recipient during which Services were provided, and (y) such date as required by Service Provider’s record retention policies, Service Provider shall maintain books and records in sufficient detail to enable an auditor to verify the
accuracy, completeness and appropriateness of the charges for the Services hereunder and the cost related thereto, and Service Provider shall provide to Service Recipient, taking into consideration the financial reporting, internal controls and
other public company requirements of Service Recipient, all requested information and records reasonably required to maintain full and accurate books relating to the provision of Services after the Distribution Date. Upon reasonable notice and
reasonable request from Service Recipient, and at Service Recipient’s sole cost and expense, Service Provider shall, during such period, make available for inspection and copying by Service Recipient’s agents or representatives such
information, books and records to the extent directly relating to the Services during reasonable business hours. 
 8. Force Majeure;
Reduction of Services. 
 No Party (or 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, 

  
 14 

 
frustrated, hindered or delayed as a consequence of circumstances of Force Majeure. A Service Provider claiming the benefit of this provision shall, as soon as reasonably practicable:
(a) notify Service Recipient of the nature and extent of any such Force Majeure condition and (b) during the duration of the Force Majeure, use diligent efforts to avoid or remove such Force Majeure condition or provide substitute services
to Service Recipient and, upon the cessation of such Force Majeure, use diligent efforts to resume performance under this Agreement as soon as feasible. During the period of a Force Majeure condition, to the extent substitute services are not
commercially or technically reasonable or feasible, Service Recipient shall be relieved of its obligation to pay for the applicable Services for such period. Notwithstanding the foregoing, Service Recipient shall be entitled to terminate Services so
affected by a Force Majeure upon fifteen (15) days’ prior written notice in respect of any such delay or failure resulting from any such Force Majeure without any penalty or obligation to pay for Services not performed. The term of any
affected Services will be tolled during such Force Majeure. 
 9. TSA Managers; Steering Committee; Dispute Resolution. 

(a) Each Party shall nominate in writing one representative to act as the primary contact with respect to the provision and receipt of Services
(a “TSA Manager”), with the initial TSA Managers as listed on Schedule A. Each Party may, at its discretion, from time to time select another individual to serve in this capacity during the term of this Agreement;
provided, however, each Party shall notify the other Party promptly (and in any event within five (5) Business Days) of any change in an individual serving in this capacity, setting forth the name and contact information of the
replacement, and stating that such replacement is authorized to act for such Party in accordance with this Section 9(a). Each Party’s TSA Manager (i) will be the primary contact for the other Party in dealing with
the first Party under the Agreement, (ii) will have overall responsibility for managing and coordinating the delivery of the Services to be provided by such Party, (iii) will meet regularly or as needed with the other Party’s TSA
Manager, (iv) will have the power and authority to make all decisions with respect to actions to be taken by such first Party in the ordinary course of day-to-day
management of the Services to be provided by it hereunder, (v) will serve as an escalated point of contact for any Service delivery issues and (vi) will be the initial representative of such first Party with respect to resolution of any
Agreement Dispute. 
 (b) A steering committee (the “Steering Committee”) of the TSA Managers, a finance executive from each
Party (the “Finance Officers”) and corporate counsel from each Party (the “Legal Officers”) will have overall responsibility for oversight, administration and issue resolution relating to the performance and
migration of Services under this Agreement (including the review of any requests by Service Recipient to increase the type, scope, frequency, quality or quantity of Services pursuant to Section 1(a) or to extend the
Termination Date beyond the Extension Period pursuant to Section 1(b)). The Steering Committee shall initially be co-chaired by the Finance Officers. The Finance Officers will
liaise with the TSA Managers and the Legal Officers to suggest modifications to Services or their costs (as necessary). The Legal Officers will adjust the schedule of Services to reflect changes in scope (as necessary). 

  
 15 

 (c) In the event of a dispute arising out of or in connection with this Agreement (including its
interpretation, performance or validity) (collectively, “Agreement Disputes”), the TSA Managers shall meet as expeditiously as possible to resolve the same. If any Agreement Dispute is not resolved within thirty (30) days, a
TSA Manager may notify each Party’s Chief Financial Officer (or such other executive designated thereby), who shall attempt to resolve such Agreement Dispute for a maximum of fifteen (15) days after the prior thirty (30) day period.
The relevant Parties shall not assert the defenses of statute of limitations and laches for any delays arising due to the procedures in Sections 9(b) or 9(d). 

(d) If the Parties have not timely resolved the Agreement Dispute under Section 9(c), the Parties agree to submit the
Agreement Dispute within ten (10) days to mediation conducted in accordance with the Mediation Procedure of the International Institute for Conflict Prevention and Resolution (“CPR”), and to bear equally the CPR and
mediator’s costs for the same. The Parties agree to participate in good faith in the mediation for a maximum of fourteen (14) days (or a mutually agreed extension). If the Parties have not timely resolved the Agreement Dispute pursuant to
this Section 9(d), either Party may then bring an action in accordance with Sections 27 and 28 herein. 

(e) In the event of any dispute between the Parties regarding a Service prior to the applicable Termination Date (other than a Party’s
failure to pay undisputed amounts due or a termination of a Service or this Agreement), Service Provider shall not discontinue the supply of any such Service during the above dispute resolution process, unless so requested by Service Recipient
pursuant to a Termination Notice. 
 (f) All information and communications between the Parties relating to an Agreement Dispute and/or under
the procedures in Sections 9(b) and 9(d) shall be considered “Confidential Information” under Section 13 herein. 

10. Disclaimer; Limited Liability; Indemnity. 

(a) Service Recipient acknowledges that Service Provider is not in the business of providing the Services and that the Services being provided
pursuant to this Agreement are provided as an accommodation to Service Recipient. Other than in the event of Service Provider’s fraud, gross negligence or willful misconduct, Service Provider will not be liable for any error or omission in
rendering Services under this Agreement, or for any defect in Services so rendered; provided that if there is a substantial error in any of the Services, Service Provider shall use commercially reasonable efforts to attempt to correct the
error, or if Service Provider is unable to so correct such error, to provide an adjustment to the Applicable Rate for such Service in reasonable proportion to that which the error bears to the Service provided for such month, which adjustment may,
pursuant to Section 2(a)(i)(1), include any reasonable out-of-pocket costs and expenses incurred by Service Recipient in retaining a Third
Party Provider to provide such Service or in providing such service itself. Notwithstanding anything to the contrary, other than in the event of Service Provider’s fraud, gross negligence or willful misconduct, neither Service Provider nor its
Affiliates will be liable for any damages, fines, penalties, deficiencies, losses, liabilities (including settlements and judgments) or expenses (including interest, court costs, reasonable fees and expenses of attorneys, accountants or other
experts and professionals or other reasonable fees and expenses of litigation or other proceedings or of any claim, default or assessment) (“Losses”) in connection with, arising out of, or resulting from this Agreement (including
breach of Service Provider’s obligations in connection with the Services provided under this Agreement) exceeding the fees paid to the Service Provider from 

  
 16 

 
the Service Recipient pursuant to this Agreement in respect of the Service from which the Losses result. Service Provider agrees to indemnify, defend and hold harmless Service Recipient and its
Affiliates and their respective directors, officers, employees and agents as a result of the fraud, gross negligence or willful misconduct of Service Provider or its Affiliates or any of their respective directors, officers, employees or agents.
Service Recipient agrees to indemnify, defend and hold harmless Service Provider and its Affiliates and their respective directors, officers, employees and agents from any Loss arising out of this Agreement other than any Losses that have resulted
from the fraud, gross negligence or willful misconduct of Service Provider or its Affiliates or any of their respective directors, officers, employees or agents. 

(b) NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESSED OR IMPLIED (INCLUDING WARRANTIES OF
NON-INFRINGEMENT, MERCHANTABILITY, ACCURACY, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE OR CONFORMITY TO ANY REPRESENTATION OR DESCRIPTION), ARE MADE BY SERVICE PROVIDER OR ANY OF ITS AFFILIATES
WITH RESPECT TO THE PROVISION OF SERVICES UNDER THIS AGREEMENT AND, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ALL SUCH REPRESENTATIONS OR WARRANTIES ARE HEREBY WAIVED AND DISCLAIMED. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING,
NOTWITHSTANDING ANYTHING TO THE CONTRARY, UNDER NO CIRCUMSTANCES, INCLUDING THE FAILURE OF THE ESSENTIAL PURPOSE OF ANY REMEDY, SHALL SERVICE PROVIDER OR ANY OF ITS AFFILIATES BE LIABLE FOR ANY LOST PROFITS, BUSINESS INTERRUPTIONS, CUSTOMER CLAIMS,
REMITTANCES, COLLECTIONS, INVOICES, PENALTIES, INTEREST OR SPECIAL, INCIDENTAL, PUNITIVE, CONSEQUENTIAL OR EXEMPLARY DAMAGES IN CONNECTION WITH, ARISING OUT OF, OR RESULTING FROM THIS AGREEMENT (INCLUDING AS CAUSED BY THE PERFORMANCE OF, ANY DELAY
IN THE PERFORMING, FAILURE TO PERFORM OR DEFECTS IN THE PERFORMANCE OF, THE SERVICES CONTEMPLATED TO BE PERFORMED BY SERVICE PROVIDER PURSUANT TO THIS AGREEMENT), REGARDLESS OF WHETHER A PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 11. Term and Service Termination Dates. 

(a) This Agreement (other than the Sections referenced in Section 11(f)) shall terminate upon the last of the
Termination Dates in respect of all Services to be provided hereunder; provided that the rights of the Parties in respect of any claims that have accrued prior to such termination shall survive such termination. 

(b) For each Service, the service period during which Service Provider is obligated to provide such Service to Service Recipient ends as of the
Termination Date (as extended pursuant to Section 1(b)) set forth on the applicable Services Schedule. The Parties agree to reasonably cooperate if necessary to adjust the applicable Termination Date to end on the next date
that is the end of a calendar or fiscal month, as deemed appropriate. Service Recipient may terminate or reduce any Service prior to its Termination Date by providing to Service Provider written notice thereof (a “Termination
Notice”), not less than thirty (30) days before the date of such earlier termination or reduction except as otherwise specified in the 

  
 17 

 
Services Schedules; provided, however, if the Service requested to be terminated or reduced is being provided by a Third Party Provider, the timing of the effectiveness of such early
termination or reduction shall be mutually agreed upon by the Parties so that there is no material disruption to, or additional costs to be incurred with respect to, any Services provided by such Third Party Provider (including services provided by
such Third Party Provider that are outside of the scope of this Agreement); provided that if (including if the Services Schedules indicate that) any Service is dependent on one or more other Services, then each such Service must be terminated
or reduced together; provided further that any termination or reduction may be on a location by location basis if so indicated on the Services Schedules. Notwithstanding the foregoing, upon the receipt of a Termination Notice, if
Service Recipient is unable to transition the applicable Service to itself or its designee in a commercially reasonable manner which does not unduly disrupt the Service on the requested termination date, Service Provider shall use commercially
reasonable efforts consistent with past practice to reasonably assist Service Recipient with its transition of such Service as soon as possible, and any resulting third party
out-of-pocket costs to Service Recipient shall be paid by Service Recipient; provided, that Service Provider shall use its reasonable best efforts to mitigate all
such resulting third party out-of-pocket costs to Service Recipient. 

(c) In the event either Party defaults in the performance of any of its obligations under this Agreement, and if such default is not excused
and not cured within thirty (30) days after written notice from the other Party specifying such default, then the other Party may at any time thereafter terminate, at its option, this Agreement or any such Service that is the subject of such
default by giving five (5) days’ prior written notice. 
 (d) In the event of termination of this Agreement or any termination of a
Service under this Agreement pursuant to this Section 11, Service Provider shall be entitled to immediate payment of, and Service Recipient shall, within forty-five (45) days, pay to Service Provider, (i) in the
event of the termination of this entire Agreement, all accrued amounts for Services and other amounts due under this Agreement as of the date of termination, and (ii) in the event of any termination of a Service under this Agreement pursuant to
this Section 11, all accrued amounts due under this Agreement with respect to such terminated Service as of the date of such partial termination. 

(e) At the reasonable request of Service Recipient, upon termination of a Service and/or the termination of this entire Agreement, if Service
Provider holds books, records, files, databases, confidential information, or computer software or hardware owned or leased by Service Recipient and used exclusively in connection with the provision of the terminated Services (the
“Materials”) Service Provider will return all such Materials to Service Recipient promptly upon the relevant termination; provided, that Service Provider may retain one (1) copy of such Materials to the extent required
to comply with applicable Law (including professional standards) or bona fide document retention policies; provided, further, that Service Provider must continue to treat such retained Materials in a manner consistent with the terms of
Section 13. 
 (f) Upon termination or expiration of this Agreement, this Agreement shall thereafter become void
and have no effect, and no Party shall have any liability to the other Party hereunder except (i) to the extent related to any intentional fraud or intentional breach of this Agreement prior to such termination or expiration and
(ii) Section 1(d), Sections 2(a) and (b) (with respect to amounts accrued prior to or upon termination or expiration), Section 7 (for the period of time set forth therein),
Section 10, Section 11(d), Section 11(e), this Section 11(f), and Sections 12 through 28 shall survive any termination or
expiration of this Agreement. 

  
 18 

 12. Independent Contractor. 

The Parties hereto understand and agree that this Agreement does not make either of them an agent or legal representative of the other for any
purpose whatsoever. No Party is granted, by this Agreement or otherwise, any right or authority to assume or create any obligation or responsibilities, express or implied, on behalf of or in the name of the other Party, or to bind the other Party in
any manner whatsoever. The Parties expressly acknowledge (i) that Service Provider is an independent contractor with respect to Service Recipient in all respects, including the provision of the Services, and (ii) that the Parties are not
partners, joint venturers, employees or agents of or with each other. 
 13. Confidentiality. 

(a) Any Confidential Information of the Parties shall be subject to Section 7.6 of the Distribution Agreement. With respect to any
information disclosed by one Party to another Party for the purpose of this Agreement or otherwise accessible to such other Party during the performance hereunder, including any Customer Information (“Confidential Information”), the
Party receiving such Confidential Information agrees that it will use the same skill and care as set forth in Section 1(a) to prevent the disclosure to or accessibility by others of the disclosing Party’s Confidential
Information and will use such Confidential Information only for the purposes of this Agreement, the Distribution Agreement and the Specified Ancillary Agreements. The receiving Party and its employees, representatives and agents (including any Third
Party Provider and auditor) (collectively, the “Recipient Parties”) shall only disclose and permit access to Confidential Information of the disclosing Party to such Recipient Parties and Third Party Providers who have a need to
know such Confidential Information for the purposes of this Agreement, the Distribution Agreement or the Specified Ancillary Agreements and who are informed of the obligation to hold such Confidential Information confidential and in respect of whose
failure to comply with such obligations, the applicable Party will be responsible. For Confidential Information provided with respect to any Service, the obligations of the Recipient Parties pursuant to this Section 13
shall expire on the date that is seven (7) years from the termination of such Service; provided that the obligations of the Recipient Parties pursuant to this Section 13 with respect to Personally Identifiable
Information shall not expire following the termination of such Service. Each Party shall provide prompt written notice of any breach of the obligations under this Section 13 by such Party or its Recipient Parties and shall
use commercially reasonable efforts to assist the other Party in remedying any such breach. 
 (b) Specifically excluded from the definition
of Confidential Information is any and all information that: 
 (i) is independently developed by the Recipient Parties after
the Effective Time without reference to any Confidential Information; 

  
 19 

 (ii) is or comes to be in the public domain or available to the public through no
fault of the Recipient Parties of the Confidential Information; or 
 (iii) is lawfully acquired after the Effective Time by
the Recipient Parties from other sources not known to be subject to confidentiality obligations with respect to such Confidential Information. 

(c) If the Recipient Party is required to disclose Confidential Information by Law, process or regulation, to the extent legally permissible,
such Recipient Party shall promptly notify the disclosing Party, reasonably cooperate with the disclosing Party to the extent it may seek to limit such disclosure and, insofar as a protective order or waiver from the disclosing Party is not
obtained, only disclose such Confidential Information that is required to be disclosed. 
 (d) In connection with any permitted disclosure
(which shall include as required by Law or securities exchange rules) of this Agreement to any third party, each Party shall redact the portions of the Services Schedules that are not relevant to such third party’s inquiry. 

(e) It is further understood and agreed that money damages may not be a sufficient remedy for any breach of this
Section 13 and that each Party shall be entitled to seek equitable relief, including injunction and specific performance, as remedy for any such breach in any court of competent jurisdiction, without posting bond or other
security. Such remedies shall not be deemed to be the exclusive remedies for a breach, but shall be in addition to all other remedies herein described available at law or equity. 

14. Audit Rights. 
 (a)
Audits by Service Provider. Upon notice from Service Provider, Service Recipient shall use commercially reasonable efforts to provide Service Provider, its auditors (including internal audit staff and external auditors), inspectors,
regulators and other reasonably designated representatives as Service Provider may from time to time designate in writing (collectively, the “Service Provider Auditors”) with access to, at reasonable times, any necessary Service
Recipient facility or part of a facility at which Service Recipient is using the Services, Service Recipient personnel, and data and records relating to the Services, for purposes of verifying compliance with this Agreement. Service Provider audits
may include security reviews (including Service Recipient’s completion of security-related questionnaires) of the Services and Service Recipient’s systems, including reasonable use of automated scanning tools such as network scanners, port
scanners, and web inspection tools. Service Recipient will provide any assistance that Service Provider Auditors may reasonably require with respect to such audits. Upon notice from Service Recipient, Service Provider shall provide Service Recipient
and its auditors with access to, at reasonable times, books and records relating to the Services or this Agreement in order for Service Recipient to comply with applicable Laws. 

  
 20 

 (b) Audits by Service Recipient. Service Recipient shall have the right, upon at least
thirty (30) days’ written notice to Service Provider, and in a manner to avoid unreasonable interruption to Service Provider’s business, to perform (through its external, independent, nationally recognized auditor) audit procedures
over Service Provider’s internal controls and procedures for the Services provided by Service Provider under this Agreement; provided that, such audit right shall exist solely to the extent reasonably required by Service Recipient’s
external auditors to ensure Service Recipient’s compliance with the Sarbanes-Oxley Act of 2002, to determine if Service Recipient’s financial statements conform to Generally Accepted Accounting Principles (GAAP), to verify third-party
expenses or to the extent required by any Governmental Authority; provided, further, that such audit right shall not grant Service Recipient the right to perform audit activities with respect to any Third Party Provider engaged in the
provision of the Services or the right to access Service Provider’s systems, networks, IT infrastructure, or customer data. Service Provider shall use commercially reasonable efforts to provide Service Recipient and its auditors with
appropriate space, furnishings, and telephone, facsimile and photocopy equipment as Service Recipient or its auditors may reasonably require to perform such audit procedures. Service Provider shall consider in good faith, but shall not be obligated
to make, changes to its controls and procedures to address any findings of such audits. Service Recipient shall pay or reimburse all of Service Provider’s incremental costs and expenses arising from all such audit-related activities, provision
of space, furnishings and equipment, and analysis and implementation, if any, and of any potential changes in Service Provider’s controls or procedures described in this Section 14(b). 

15. Fees and Expenses. 

Except as expressly provided otherwise in this Agreement, all costs and expenses incurred in connection with this Agreement and the performance
of the Services hereunder, including any costs and expenses associated with the expiration, termination, or reduction of the Services, shall be borne by the Party incurring such costs or expenses. 

16. Beneficiary of Services; No Third Party Beneficiaries. 

This Agreement is for the sole benefit of the Parties hereto, and nothing expressed or implied shall give or be construed to give any Person
any legal or equitable rights hereunder, whether as a third-party beneficiary or otherwise (except as provided in Section 10(a)). Each Party agrees, and each Party in its capacity as a Service Recipient represents and
warrants, that the Services shall be provided solely to, and shall be used solely by, Service Recipient and its Subsidiaries. Service Recipient shall not resell or provide the Services to any other Person, or permit the use of the Services by any
Person other than Service Recipient and its Subsidiaries. 
 17. Entire Agreement. 

This Agreement, together with the Distribution Agreement and the other Ancillary Agreements, constitutes the entire agreement of the Parties
with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter. In the event and to the extent that there shall be a conflict between the
provisions of this Agreement and the provisions of the Distribution Agreement or any other Ancillary Agreement, the Parties agree that this Agreement shall govern. 

  
 21 

 18. Amendment; Waiver. 

This Agreement and the Services Schedules may be amended, and any provision of this Agreement may be waived, only if such amendment or waiver
is in writing and signed, in the case of an amendment, by each of the Parties, or in the case of a waiver, by the Party against whom the waiver is effective. No failure to exercise and no delay in exercising, on the part of either Party, any right,
remedy, power or privilege hereunder shall operate as a waiver hereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any
other right, remedy, power or privilege 
 19. Notices. 

All notices, requests, claims, demands and other communications under this Agreement and, to the extent applicable and unless otherwise
provided therein, under each of the Ancillary Agreements shall be in English, shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by
facsimile with receipt confirmed (followed by delivery of an original via overnight courier service), by registered or certified mail (postage prepaid, return receipt requested) or by e-mail to the respective
Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 19): 

if to LQ Parent: 
 Wyndham Hotel
Group, LLC 
 22 Sylvan Way 

Parsippany, NJ 07054 
 Attn:
Chief Operating Officer 
 Facsimile: (973) 753-6760 

with a copy to (which shall not constitute notice) 

La Quinta Holdings Inc. 
 909
Hidden Ridge, Suite 600 
 Irving, Texas 75038 

Attn: [●] 
 Email:
[●] 
 Phone: (214) 492-6600 

Facsimile: [●] 
 and 

  
 22 

 Wyndham Hotel Group, LLC 

22 Sylvan Way 
 Parsippany, NJ
07054 
 Attn: General Counsel 

Facsimile: (973) 753-6760 

if to CPLG: 
 CorePoint Lodging
Inc. 
 909 Hidden Ridge, Suite 600 

Irving, Texas 75038     

Attn: [●] 
 Email:
[●] 
 Phone: (214) 492-6600 

Facsimile: [●]     

20. Non-Assignability. 

This Agreement shall not be assignable, in whole or in part, directly or indirectly, by either Party hereto without the prior written consent
of the other Party (not to be unreasonably withheld or delayed), and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be void. Notwithstanding the foregoing, (a) this Agreement shall be
assignable in whole in connection with a merger or consolidation or the sale of all or substantially all the assets of a Party hereto so long as the resulting, surviving or transferee Business Entity assumes all the obligations of the relevant Party
hereto by operation of law or pursuant to an agreement in form and substance reasonably satisfactory to the other Party to this Agreement and (b) Service Provider may assign any or all of its rights or obligations arising under this Agreement
to any of its Affiliates that is reasonably capable of providing the Services. No assignment permitted by this Section 20 shall release the assigning Party from liability for the full performance of its obligations under
this Agreement 
 21. Further Assurances. 

From time to time after the date hereof, without further consideration, each Party shall use commercially reasonable efforts to take, or cause
to be taken, all appropriate action, do or cause to be done all things reasonably proper or advisable under applicable Law, and execute and deliver such documents as may be required or appropriate, to carry out the provisions of this Agreement and
to consummate, perform and make effective the transition contemplated hereby. 
 22. Definitions and Rules of Construction. 

(a) Defined terms used in this Agreement have the meanings ascribed to them by definition in this Agreement. 

(b) The Parties have participated jointly in the negotiation and drafting of this Agreement. This Agreement shall be construed without regard
to any presumption or rule requiring construction or interpretation against the Party drafting or causing any instrument to be drafted 

  
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 (c) 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.” 
 (d)
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 Section or
provision of this Agreement. 
 (e) 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 
 (f) All references to “$” herein shall be references to U.S. Dollars.

 23. Counterparts; Effectiveness. 

This Agreement may be executed in more than one counterpart, all of which shall be considered one and the same agreement, and shall become
effective when one or more such counterparts have been signed by each of the Parties and delivered to the other Party hereto. 
 24.
Section Headings. 
 Titles and headings to sections herein 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 
 25. Severability. 

In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The Parties shall endeavor in good-faith negotiations to replace the invalid, illegal or
unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

26. Governing Law. 
 This
Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware without reference to any choice-of-law or conflicts of law principles
that would result in the application of the laws of a different jurisdiction. 
 27. Consent to Jurisdiction. 

Each Party irrevocably submits to the exclusive jurisdiction of (i) the Court of Chancery of the State of Delaware or (ii) if such
court does not have subject matter jurisdiction, any other state or federal court located within the County of New Castle in the State of Delaware, 

  
 24 

 
to resolve any Agreement Dispute that is not resolved pursuant to Sections 9(b) or 9(d). Any judgment of such court may be enforced by any court of competent jurisdiction.
Further, notwithstanding Sections 9(b) and 9(d), either Party may apply to the courts specified in this Section for a temporary restraining order or similar emergency relief during the process set forth in Sections 9(b)
or 9(d). Each of the Parties agrees that service by U.S. registered mail to such Party’s respective address set forth above shall be effective service of process for any of the above Actions and irrevocably and unconditionally waives any
objection to the laying of venue of any Action in accordance with this Section 27. Nothing in this Section 27 shall limit or restrict the Parties from agreeing to arbitrate any Agreement Dispute
pursuant to mutually-agreed procedures.  
 28. Waiver of Jury Trial. 

EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO
ANY ACTION ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, INCLUDING ANY AGREEMENT DISPUTE. 
 [Remainder of Page Intentionally
Blank] 

  
 25 

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

			
	LA QUINTA HOLDINGS INC.

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	COREPOINT LODGING INC.

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Transition Services Agreement] 

 SCHEDULE A 

[See Attached]EX-10.6

 Exhibit 10.6 
  

 
  

REGISTRATION RIGHTS AGREEMENT 

by and among 
 COREPOINT
LODGING INC. 
 and 

the other parties hereto 

Dated as of [•], 2018 
  

 
  

 TABLE OF CONTENTS 

 

									
	 	  	 	  	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	 
				
		  	 SECTION 1.1
	  	 Certain Definitions
	  	 	1	 
				
		  	 SECTION 1.2
	  	 Other Definitional Provisions; Interpretation
	  	 	5	 
		
	 ARTICLE II REGISTRATION RIGHTS
	  	 	5	 
				
		  	 SECTION 2.1
	  	 Piggyback Rights
	  	 	5	 
				
		  	 SECTION 2.2
	  	 Demand Registration
	  	 	7	 
				
		  	 SECTION 2.3
	  	 Registration Procedures
	  	 	10	 
				
		  	 SECTION 2.4
	  	 Other Registration-Related Matters
	  	 	13	 
		
	 ARTICLE III INDEMNIFICATION
	  	 	15	 
				
		  	 SECTION 3.1
	  	 Indemnification by the Company
	  	 	15	 
				
		  	 SECTION 3.2
	  	 Indemnification by the Holders and Underwriters
	  	 	16	 
				
		  	 SECTION 3.3
	  	 Notices of Claims, Etc.
	  	 	17	 
				
		  	 SECTION 3.4
	  	 Contribution
	  	 	17	 
				
		  	 SECTION 3.5
	  	 Other Indemnification
	  	 	18	 
				
		  	 SECTION 3.6
	  	 Non-Exclusivity
	  	 	18	 
		
	 ARTICLE IV OTHER
	  	 	18	 
				
		  	 SECTION 4.1
	  	 Notices
	  	 	18	 
				
		  	 SECTION 4.2
	  	 Assignment
	  	 	19	 
				
		  	 SECTION 4.3
	  	 Amendments; Waiver
	  	 	19	 
				
		  	 SECTION 4.4
	  	 Third Parties
	  	 	19	 
				
		  	 SECTION 4.5
	  	 Governing Law
	  	 	19	 
				
		  	 SECTION 4.6
	  	 Jurisdiction
	  	 	19	 
				
		  	 SECTION 4.7
	  	 MUTUAL WAIVER OF JURY TRIAL
	  	 	19	 

  
 i 

									
				
		  	 SECTION 4.8
	  	 Specific Performance
	  	 	20	 
				
		  	 SECTION 4.9
	  	 Entire Agreement
	  	 	20	 
				
		  	 SECTION 4.10
	  	 Severability
	  	 	20	 
				
		  	 SECTION 4.11
	  	 Counterparts
	  	 	20	 
				
		  	 SECTION 4.12
	  	 Effectiveness
	  	 	20	 

  
 ii 

 REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is dated as of [ ], 2018 and is by and among CorePoint Lodging Inc., a
Maryland corporation (the “Company”), and Blackstone (as defined below). 
 RECITALS 

WHEREAS, La Quinta Holdings Inc., a Delaware corporation (“LQ Parent”), intends to effect a separation of its hotel
management and franchise business (which will remain with LQ Parent) and its real estate business (which was conveyed to the Company), and distribute its entire interest in the Company by way of a dividend of all outstanding shares of the
Company’s Common Stock owned by LQ Parent to holders of LQ Parent common stock (the “Spin-Off Transaction”); and 

WHEREAS, LQ Parent and Blackstone are parties to a Registration Rights Agreement dated as of April 14, 2014 relating to the registration
of shares of LQ Parent common stock. 
 NOW, THEREFORE, in consideration of the foregoing, and the representations, warranties, covenants
and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties agree as follows: 

ARTICLE I 
 DEFINITIONS 

SECTION 1.1 Certain Definitions. As used in this Agreement: 

“Affiliate” has the meaning ascribed thereto in Rule 12b-2 promulgated under the
Exchange Act, as in effect on the date hereof. 
 “Agreement” has the meaning set forth in the preamble. 

“Blackstone” means the entities listed on the signature pages hereto under the heading “Blackstone.” 

“Blackstone Entities” means the entities comprising Blackstone, their respective Affiliates and the successors and permitted
assigns of such entities and their respective Affiliates. 
 “Board” means the board of directors of the Company. 

“Business Day” means a day other than a Saturday, Sunday, federal or New York State holiday or other day on which commercial
banks in New York City are authorized or required by law to close. 

 “Common Stock” means the shares of common stock, par value $0.01 per share, of
the Company, and any other capital stock of the Company into which such common stock is reclassified or reconstituted, including by way of a stock dividend or stock split. 

“Company” has the meaning set forth in the preamble. 

“Control” (including its correlative meanings, “Controlled by” and “under common Control
with”) means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise) of a
Person. 
 “Demand Party” has the meaning set forth in Section 2.2(a). 

“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder, as the same may be amended from time to time. 
 “FINRA” means the Financial Industry Regulatory Authority,
Inc. 
 “Governmental Authority” means any nation or government, any state or other political subdivision thereof, and any
entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 

“Holder” means each entity comprising Blackstone that is a holder of Registrable Securities or Securities exercisable,
exchangeable or convertible into Registrable Securities or any Transferee of such Person to whom registration rights are assigned pursuant to Section 4.2. 

“Indemnified Party” and Indemnified Parties” have the meanings set forth in Section 3.1. 

“Law” means any statute, law, regulation, ordinance, rule, injunction, order, decree, governmental approval, directive,
requirement, or other governmental restriction or any similar form of decision of, or determination by, or any interpretation or administration of any of the foregoing by, any Governmental Authority. 

“LQ Parent” has the meaning set forth in the recitals. 

“LQ Parent Holder” means any holder of securities entitled to registration rights under the LQ Parent Registration Rights
Agreement. 
 “LQ Parent Registration Rights Agreement” means any Registration Rights Agreement between the Company and LQ
Parent, entered into pursuant to the Tax Matters Agreement, dated [•], 2018, between the Company and LQ Parent, which provides LQ Parent with registration rights with respect to shares of the Company’s Common Stock. 

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock
company, a trust, a joint venture, a cooperative, an unincorporated organization, or other form of business organization, whether or not regarded as a legal entity under applicable Law, or any Governmental Authority or any department, agency or
political subdivision thereof. 

  
 -2- 

 “Public Offering” means a public offering of equity securities of the Company or
any successor thereto or any Subsidiary of the Company pursuant to a registration statement declared effective under the Securities Act. 

“Registrable Securities” means all shares of Common Stock and any Securities into which the Common Stock may be converted or
exchanged pursuant to any merger, recapitalization, consolidation, sale of all or any part of its assets, corporate conversion, reorganization or other extraordinary transaction of the Company held by a Holder (in each case whether now held or
hereafter acquired, and including any such Securities received as a result of a stock dividend or stock split or received by a Holder upon the conversion or exchange of, or pursuant to such a transaction with respect to, other Securities held by
such Holder). As to any Registrable Securities, such Securities will cease to be Registrable Securities when: 
  

	 	(a)	a registration statement covering such Registrable Securities has been declared effective and such Registrable Securities have been disposed of pursuant to such effective registration statement; 

 

	 	(b)	such Registrable Securities shall have been sold pursuant to Rule 144 or 145 (or any similar provision then in effect) under the Securities Act; 

 

	 	(c)	such Registrable Securities may be sold pursuant to Rule 144 or 145 (or any similar provision then in effect) without limitation thereunder on volume or manner of sale, unless such Registrable Securities are held by a
Holder that beneficially owns 5% or more of the then outstanding shares of Common Stock; or 

  

	 	(d)	such Registrable Securities cease to be outstanding. 

 “Registration Expenses”
means any and all fees and expenses incurred in connection with the performance of or compliance with this Agreement, including: 
  

	 	(a)	all registration and filing fees (including, without limitation, SEC, stock exchange, and FINRA registration and filing fees, and the fees and expenses of any “qualified independent underwriter,” as such term
is defined in Rule 5121 of FINRA, and of its counsel); 

  

	 	(b)	all fees and expenses of complying with securities or blue sky Laws (including fees and disbursements of counsel for the underwriters in connection with blue sky qualifications of the Registrable Securities);

  

	 	(c)	all printing, messenger, telephone and delivery expenses; 

  

	 	(d)	all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange or FINRA and all rating agency fees; 

  
 -3- 

	 	(e)	the reasonable fees and disbursements of counsel for the Company and its independent public accountants, including the expenses of any special audits and/or “cold comfort” letters required by or incident to
such performance and compliance; 

  

	 	(f)	any fees and disbursements of underwriters customarily paid by the issuers or sellers of Securities, including liability insurance if the Company so desires or if the underwriters so require, and the reasonable fees and
expenses of any special experts retained in connection with the requested registration, but excluding underwriting discounts and commissions and transfer taxes, if any; 

 

	 	(g)	the reasonable fees and out-of-pocket expenses of not more than one law firm (as selected by the Holders of a majority of the Registrable
Securities included in such registration) representing the Holders in connection with the registration; 

  

	 	(h)	the costs and expenses of the Company relating to analyst and investor presentations or any “road show” undertaken in connection with the registration and/or marketing of the Registrable Securities (including
the reasonable out-of-pocket expenses of the Holders); and 

  

	 	(i)	any other fees and disbursements customarily paid by the issuers of securities. 

“SEC” means the U.S. Securities and Exchange Commission or any successor agency. 

“Securities” means capital stock, limited partnership interests, limited liability company interests, beneficial interests,
warrants, options, notes, bonds, debentures, and other securities, equity interests, ownership interests and similar obligations of every kind and nature of any Person. 

“Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, as
the same may be amended from time to time. 
 “Shelf Offering” has the meaning set forth in Section 2.2(b). 

“Spin-Off Transaction” has the meaning set forth in the recitals. 

“Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership, association or other
business entity of which: (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, representatives or trustees thereof is
at the time owned or Controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof; or (ii) if a limited liability company, partnership, association or other business entity,
a majority of the total voting power of stock (or equivalent ownership interest) of the limited liability company, partnership, association or other 

  
 -4- 

 
business entity is at the time owned or Controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or
Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity if such Person or Persons shall be allocated a majority of limited liability company, partnership,
association or other business entity gains or losses or shall be or Control the managing director or general partner of such limited liability company, partnership, association or other business entity. 

“Transfer” (including its correlative meanings, “Transferor”, “Transferee” and
“Transferred”) shall mean, with respect to any security, directly or indirectly, to sell, contract to sell, give, assign, hypothecate, pledge, encumber, grant a security interest in, offer, sell any option or contract to purchase,
purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of any economic, voting or other rights in or to such security. When used as a noun, “Transfer” shall
have such correlative meaning as the context may require. 
 “WKSI” means a “well-known seasoned issuer” as
defined under Rule 405 of the Securities Act. 
 SECTION 1.2 Other Definitional Provisions; Interpretation. 

(a) The words “hereof,” “herein,” and “hereunder” and words of similar import when used in this Agreement refer
to this Agreement as a whole and not to any particular provision of this Agreement, and references in this Agreement to a designated “Article” or “Section” refer to an Article or Section of this Agreement unless otherwise
specified. 
 (b) The headings in this Agreement are included for convenience of reference only and do not limit or otherwise affect the
meaning or interpretation of this Agreement. 
 (c) The meanings given to terms defined herein are equally applicable to both the singular
and plural forms of such terms. 
 ARTICLE II 

REGISTRATION RIGHTS 

SECTION 2.1 Piggyback Rights. 

(a) If at any time, the Company proposes to register any Securities for public sale (whether proposed to be offered for sale by the Company or
by any other Person) under the Securities Act (other than a registration on Form S-4 or S-8, or any successor or other forms promulgated for similar purposes), it will,
at each such time, give prompt written notice (which notice shall specify the intended method or methods of disposition) to the Holders of its intention to do so and of such Holder’s rights under this Section 2.1. Upon the written request
of any Holder made within fifteen (15) days after the receipt of any such notice (which request shall specify the number of Registrable Securities intended to be disposed of by such Holder), the Company will use its reasonable best efforts to
effect the registration under the Securities Act of all Registrable Securities which the Holders have so requested to be registered; provided that: (i) if, at any time after giving written notice of its intention to register any
Securities and prior to the 

  
 -5- 

 
effective date of the registration statement filed in connection with such registration, the Company shall determine for any reason not to proceed with the proposed registration of the Securities
to be sold by it, the Company may, at its election, give written notice of such determination to the Holders and, thereupon, the Company shall be relieved of its obligation to register any Registrable Securities in connection with such registration
(but not from its obligation to pay the Registration Expenses incurred in connection therewith) without prejudice to the rights of any Holder to request that such registration be effected as a registration under Section 2.2(a); and (ii) if
such registration involves an underwritten offering, the Holders of Registrable Securities requesting to be included in the registration must, upon the written request of the Company, sell their Registrable Securities to the underwriters on the same
terms and conditions as apply to the other Securities being sold through underwriters under such registration, with, in the case of a combined primary and secondary offering, only such differences, including any with respect to representations and
warranties, indemnification and liability insurance, as may be customary or appropriate in combined primary and secondary offerings. 
 (b)
Expenses. The Company will pay all Registration Expenses in connection with each registration of Registrable Securities requested pursuant to this Section 2.1. 

(c) Priority in Piggyback Registrations. If a registration pursuant to this Section 2.1 involves an underwritten offering and the
managing underwriter advises the Company in writing (a copy of which shall be provided to the Holders) that, in its opinion, the number of Registrable Securities and other Securities requested to be included in such registration exceeds the number
which can be sold in such offering, so as to be likely to have a material and adverse effect on the price, timing or distribution of the Securities offered in such offering, then the Company will include in (A) any such registration initiated
by the Company or other holder of Securities (other than the Holders): (i) first, the Securities the Company proposes to sell for its own account; (ii) second, on a pro rata basis, on the basis of the number of Securities requested to be
included in such registration by each such holder, the Securities requested to be included in such registration by the LQ Parent Holders pursuant to the LQ Parent Registration Rights Agreement and the Registrable Securities requested to be included
in such registration by the Holders; and (iii) third, such other Securities entitled to be included in such registration and the holders of which submitted a proper request for inclusion in such registration; and (B) any such registration
initiated by the Holders pursuant to this Agreement: (i) first, the Securities the Company proposes to sell for its own account; (ii) second, the Registrable Securities requested to be included in such registration by Holders;
(iii) third, the Registrable Securities requested to be included in such registration by LQ Parent Holders pursuant to a LQ Parent Registration Rights Agreement; and (iv) fourth, such other Securities entitled to be included in such
registration and the holders of which submitted a proper request for inclusion in such registration. Any other selling holders of the Company’s Securities (other than transferees to whom a Holder has assigned its rights under this Agreement)
will be included in an underwritten offering only with the consent of Holders holding a majority of the shares being sold in such offering. 

(d) Excluded Transactions. The Company shall not be obligated to effect any registration of Registrable Securities under this
Section 2.1 incidental to the registration of any of its Securities in connection with: 

  
 -6- 

 (i) a registration statement filed to cover issuances under employee benefits
plans or dividend reinvestment plans; or 
 (ii) any registration statement relating solely to the acquisition or merger
after the date hereof by the Company or any of its Subsidiaries of or with any other businesses. 
 (e) Plan of Distribution, Underwriters
and Counsel. If a registration pursuant to this Section 2.1 involves an underwritten offering that is initiated by selling holders, the holders that initiated such underwritten offering (by action of the holders of a majority of the
Securities requested to be registered thereby) shall have the right to (i) determine the plan of distribution, (ii) select the investment banker or bankers and managers to administer the offering, including the lead managing underwriter
(provided that such investment banker or bankers and managers shall be reasonably satisfactory to the Company) and (iii) select counsel for the selling Holders. 

(f) Shelf Takedowns. In connection with any shelf takedown (whether pursuant to Section 2.2(f) or at the initiative of the
Company), the Holders may exercise “piggyback” rights in the manner described in this Agreement to have included in such takedown Registrable Securities held by them that are registered on such shelf registration statement. 

SECTION 2.2 Demand Registration. 

(a) General. At any time, upon the written request of any Holder (the “Demand Party”) requesting that the Company
effect the registration under the Securities Act of Registrable Securities and specifying the amount and intended method of disposition thereof (including, but not limited to, an underwritten public offering), the Company will (i) promptly give
written notice of such requested registration to the other Holders and other holders of Securities entitled to notice of such registration, if any, and (ii) as expeditiously as possible, use its reasonable best efforts to file a registration
statement to effect the registration under the Securities Act of: 
 (i) such Registrable Securities which the Company has
been so requested to register by the Demand Party in accordance with the intended method of disposition thereof; and 
 (ii)
the Registrable Securities of other Holders which the Company has been requested to register by written request given to the Company within fifteen (15) days after the giving of such written notice by the Company. 

Notwithstanding the foregoing, the Company shall not be obligated to file a registration statement relating to any registration request under this
Section 2.2(a): 
 (x) within a period of one hundred eighty (180) days (or such lesser period as the managing
underwriters in an underwritten offering may permit) after the date of the final prospectus relating to any registration request under this Section 2.2(a) or relating to any registration referred to in Section 2.1; or 

  
 -7- 

 (y) if, in the good faith judgment of a majority of the disinterested members of
the Board, the Company is in possession of material non-public information the disclosure of which would be materially adverse to the Company and would not otherwise be required under Law, in which case the
filing of the registration statement may be delayed until the earlier of the second Business Day after such conditions shall have ceased to exist and the 60th day after receipt by the Company of the written request from a Demand Party to register
Registrable Securities under this Section 2.2(a); provided that the Company shall not effect such a delay more than two times in any twelve (12) month period. 

(b) Form and Shelf Registrations. Each registration statement prepared at the request of a Demand Party shall be effected on such form
as reasonably requested by the Demand Party, including by a shelf registration pursuant to Rule 415 under the Securities Act on a Form S-3 (or any successor rule or form thereto) if so requested by the Demand
Party and if the Company is then eligible to effect a shelf registration and use such form for such disposition. If requested by Holders of a majority of the Registrable Securities, following the first day of the calendar month immediately following
the first anniversary of the date hereof, the Company shall prepare and file a registration statement covering the sale and distribution from time to time by Holders of Registrable Securities, on a delayed or continuous basis pursuant to Rule 415 of
the Securities Act, of all of the Registrable Securities on Form S-3, and if the Company is a WKSI at the time any request for a demand registration submitted to the Company, such shelf registration shall be
an automatic shelf registration statement (as defined in Rule 405 under the Securities Act) (except if the Company is not then eligible to register for resale the Registrable Securities on Form S-3, then such
registration shall be on another appropriate form and shall provide for the registration of such Registrable Securities for resale by the Holders of the Registrable Securities in accordance with any reasonable method of distribution elected by a
majority of the Holders of the Registrable Securities), and shall use its reasonable best efforts to cause such registration statement to be declared effective as soon as reasonably practicable and to be continuously effective and usable until such
time as there are no longer any Registrable Securities outstanding. The Company shall, prior to the expiration of any such shelf registration statement, file a new shelf registration statement covering such Registrable Securities and shall
thereafter use its reasonable best efforts to cause such shelf registration statement to be declared effective as promptly as reasonably practical. The Company shall supplement and amend any shelf registration statement if required by the Securities
Act or the rules, regulations or instructions applicable to the registration form used by the Company for such shelf registration statement. Subject to the other applicable provisions of this Agreement, at any time that any shelf registration
statement is effective, if a Holder of Registrable Securities delivers a notice to the Company stating that it intends to effect a sale or distribution of all or part of its Registrable Securities included by it on any shelf registration statement
(a “Shelf Offering”) and stating the number of the Registrable Securities to be included in such Shelf Offering, then the Company shall amend, subject to the other applicable provisions of this Agreement, or supplement the shelf
registration statement as may be necessary in order to enable such Registrable Securities to be sold and distributed pursuant to the Shelf Offering; provided, however, that the Company shall not be required to file more than one
post-effective amendment or a supplement to the shelf registration statement for such purpose in any 15-day period. 

  
 -8- 

 (c) Expenses. The Company will pay all Registration Expenses in connection with each
registration of Registrable Securities requested pursuant to this Section 2.2. 
 (d) Plan of Distribution, Underwriters and
Counsel. If a requested registration pursuant to this Section 2.2 involves an underwritten offering, the Holders of a majority of the Registrable Securities included in such underwritten offering shall have the right to (i) determine
the plan of distribution, (ii) select the investment banker or bankers and managers to administer the offering, including the lead managing underwriter (provided that such investment banker or bankers and managers shall be reasonably
satisfactory to the Company) and (iii) select counsel for the selling Holders. 
 (e) Priority in Demand Registrations. If a
requested registration pursuant to this Section 2.2 involves an underwritten offering and the managing underwriter advises the Company in writing (a copy of which shall be provided to the Holders) that, in its opinion, the number of Registrable
Securities requested to be included in such registration (including Securities of the Company which are not Registrable Securities) exceeds the number which can be sold in such offering, so as to be likely to have a material and adverse effect on
the price, timing or distribution of the Securities offered in such offering, then the number of such Registrable Securities to be included in such registration shall be allocated pro rata among (1) Registrable Securities held by the
Demand Party, and (2) the Registrable Securities held by the other Holders that have requested that their Registrable Securities be sold pursuant to Section 2.1(a), if any, on the basis of the relative number of Securities requested to be
included in such registration by the Demand Party and each such other Holder. Any other selling holders of the Company’s Securities (other than transferees to whom a Holder has assigned its rights under this Agreement) will be included in an
underwritten offering only with the consent of Holders holding a majority of the shares being sold in such offering. 
 (f) Shelf
Takedowns. Upon the written request of the Demand Party at any time and from time to time, the Company will facilitate in the manner described in this Agreement a “takedown” of the Demand Party’s Registrable Securities off of an
effective shelf registration statement. Upon the written request of the Demand Party, the Company will file and seek the effectiveness of a post-effective amendment to an existing shelf registration statement or a prospectus supplement in order to
register up to the number of the Demand Party’s Registrable Securities previously taken down off of such shelf by the Demand Party and not yet “reloaded” onto such shelf registration statement. 

(g) Additional Rights. Except pursuant to the LQ Parent Registration Rights Agreement or as expressly provided in this Agreement, the
Company shall not grant to any Person the right to request or require the Company to register any equity Securities of the Company, or any Securities convertible, exchangeable or exercisable for or into such Securities, or amend any grant of such a
right, without the prior written consent of the Holders holding a majority of the Registrable Securities subject to this Agreement. In the event the Company engages in a merger or consolidation in which the shares of Common Stock are converted into
Securities of another company, appropriate arrangements will be made so that the registration rights provided under this Agreement continue to be provided to Holders by the issuer of such Securities. To the extent such new issuer, or any other
company acquired by the Company in a merger or consolidation, was bound by registration rights that would conflict with the provisions 

  
 -9- 

 
of this Agreement, the Company will use its reasonable best efforts to modify any such “inherited” registration rights so as not to interfere in any material respects with the rights
provided under this Agreement, unless otherwise agreed by Holders then holding a majority of Registrable Securities. 
 SECTION 2.3
Registration Procedures. If and whenever the Company is required to file a registration statement with respect to, or to use its reasonable best efforts to effect or cause the registration of, any Registrable Securities under the Securities
Act as provided in this Agreement, the Company will as expeditiously as possible: 
 (a) promptly prepare and file with the SEC a
registration statement on an appropriate form with respect to such Registrable Securities and use its reasonable best efforts to cause such registration statement to become effective; provided, however, that the Company may discontinue
any registration of Securities which it has initiated for its own account at any time prior to the effective date of the registration statement relating thereto (and, in such event, the Company shall pay the Registration Expenses incurred in
connection therewith); and provided, further, that before filing a registration statement or prospectus, or any amendments or supplements thereto, the Company will (i) furnish to counsel for the sellers of Registrable Securities
covered by such registration statement copies of all documents proposed to be filed, which documents will be subject to the review of such counsel, (ii) fairly consider such reasonable changes in any such documents prior to or after the filing
thereof as the counsel to the sellers of Registrable Securities being sold may request, and (iii) make such of the representatives of the Company as shall be reasonably requested by the sellers of the Registrable Securities being sold available
for discussion of such documents; 
 (b) prepare and file with the SEC such amendments and supplements to such registration statement and the
prospectus used in connection therewith as may be necessary to keep such registration statement effective for a period not in excess of two (2) years (which period shall not be applicable in the case of a shelf registration effected pursuant to
a request under Section 2.2(b)) and to comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all Securities covered by such registration statement during such period in accordance with the
intended methods of disposition by the seller or sellers thereof set forth in such registration statement; provided that before filing a registration statement or prospectus, or any amendments or supplements thereto, the Company will
(i) furnish to counsel for the sellers of Registrable Securities covered by such registration statement copies of all documents proposed to be filed, which documents will be subject to the review of such counsel, (ii) fairly consider such
reasonable changes in any such documents prior to or after the filing thereof as the counsel to the sellers of Registrable Securities being sold may request, and (iii) make such of the representatives of the Company as shall be reasonably
requested by the sellers of the Registrable Securities being sold available for discussion of such documents; 
 (c) furnish to each seller
of such Registrable Securities such number of copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits filed therewith, including any documents incorporated by reference), such number of
copies of the prospectus included in such registration statement (including each preliminary prospectus and summary prospectus), in conformity with the requirements of the Securities Act, and such other documents as such seller may reasonably
request in order to facilitate the disposition of the Registrable Securities by such seller; 

  
 -10- 

 (d) use its reasonable best efforts to register or qualify such Registrable Securities covered by
such registration in such jurisdictions as each seller shall reasonably request, and do any and all other acts and things which may be reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the
Registrable Securities owned by such seller; 
 (e) use its reasonable best efforts to cause such Registrable Securities covered by such
registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof to consummate the disposition of such Registrable Securities; 

(f) notify each seller of any such Registrable Securities covered by such registration statement, at any time when a prospectus relating
thereto is required to be delivered under the Securities Act, of the Company’s becoming aware that the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a
material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, and at the request of any such seller, prepare and furnish to such seller a reasonable number of
copies of an amended or supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; 

(g) otherwise use its reasonable best efforts to comply with all applicable rules and regulations of the SEC, and make available to its
Security holders, as soon as reasonably practicable (but not more than eighteen (18) months) after the effective date of the registration statement, an earnings statement which shall satisfy the provisions of Section 11(a) of the
Securities Act; 
 (h) (i) use its reasonable best efforts to list such Registrable Securities on any securities exchange on which other
Securities of the Company are then listed if such Registrable Securities are not already so listed and if such listing is then permitted under the rules of such exchange; and (ii) use its reasonable best efforts to provide a transfer agent and
registrar for such Registrable Securities covered by such registration statement not later than the effective date of such registration statement; 

(i) enter into such customary agreements (including an underwriting agreement in customary form), which may include indemnification provisions
in favor of underwriters and other Persons in addition to, or in substitution for the indemnification provisions hereof, and take such other actions as sellers of a majority of such Registrable Securities or the underwriters, if any, reasonably
request in order to expedite or facilitate the disposition of such Registrable Securities; 

  
 -11- 

 (j) obtain a “cold comfort” letter or letters from the Company’s independent
public accountants in customary form and covering matters of the type customarily covered by “cold comfort” letters as the seller or sellers of a majority of such Registrable Securities shall reasonably request; 

(k) make available for inspection by any seller of such Registrable Securities covered by such registration statement, by any underwriter
participating in any disposition to be effected pursuant to such registration statement and by any attorney, accountant or other agent retained by any such seller or any such underwriter, all pertinent financial and other records, pertinent
corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with
such registration statement; 
 (l) notify counsel for the Holders of Registrable Securities included in such registration statement and the
managing underwriter or agent, immediately, and confirm the notice in writing: (i) when the registration statement, or any post-effective amendment to the registration statement, shall have become effective, or any supplement to the prospectus
or any amendment to any prospectus shall have been filed; (ii) of the receipt of any comments from the SEC; (iii) of any request of the SEC to amend the registration statement or amend or supplement the prospectus or for additional
information; and (iv) of the issuance by the SEC of any stop order suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any preliminary prospectus, or of the suspension of the
qualification of the registration statement for offering or sale in any jurisdiction, or of the institution or threatening of any proceedings for any of such purposes; 

(m) provide each Holder of Registrable Securities included in such registration statement reasonable opportunity to comment on the registration
statement, any post-effective amendments to the registration statement, any supplement to the prospectus or any amendment to any prospectus; 

(n) make every reasonable effort to prevent the issuance of any stop order suspending the effectiveness of the registration statement or of any
order preventing or suspending the use of any preliminary prospectus and, if any such order is issued, to obtain the withdrawal of any such order at the earliest possible moment; 

(o) if requested by the managing underwriter or agent or any Holder of Registrable Securities covered by the registration statement, promptly
incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or agent or such Holder reasonably requests to be included therein, including, with respect to
the number of Registrable Securities being sold by such Holder to such underwriter or agent, the purchase price being paid therefor by such underwriter or agent and with respect to any other terms of the underwritten offering of the Registrable
Securities to be sold in such offering; and make all required filings of such prospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such
prospectus supplement or post-effective amendment; 

  
 -12- 

 (p) cooperate with the Holders of Registrable Securities covered by the registration statement
and the managing underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing Securities to be sold under the registration statement, and enable such Securities to
be in such denominations and registered in such names as the managing underwriter or agent, if any, or the Holders may request; 
 (q) use
its reasonable best efforts to make available the executive officers of the Company to participate with the Holders of Registrable Securities and any underwriters in any “road shows” that may be reasonably requested by the Holders in
connection with distribution of Registrable Securities; 
 (r) obtain for delivery to the Holders of Registrable Securities being registered
and to the underwriter or agent an opinion or opinions and “negative assurance” letters from counsel for the Company in customary form and in form, substance and scope reasonably satisfactory to such Holders, underwriters or agents and
their counsel; and 
 (s) cooperate with each seller of Registrable Securities and each underwriter or agent participating in the disposition
of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA. 
 SECTION 2.4
Other Registration-Related Matters. 
 (a) The Company may require any Person that is Transferring Securities in a Public Offering
pursuant to Sections 2.1 or 2.2 to furnish to the Company in writing such information regarding such Person and pertinent to the disclosure requirements relating to the registration and the distribution of the Registrable Securities which are
included in such Public Offering as the Company may from time to time reasonably request in writing. 
 (b) Each Holder agrees that, upon
receipt of any notice from the Company of the happening of any event of the kind described in Section 2.3(f), it will forthwith discontinue disposition of Registrable Securities pursuant to the registration statement covering such Registrable
Securities until its receipt of the copies of the amended or supplemented prospectus contemplated by Section 2.3(f) and, if so directed by the Company, each Holder will deliver to the Company or destroy (at the Company’s expense) all
copies, other than permanent file copies then in their possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice. In the event the Company gives any such notice, the period for which the Company
will be required to keep the registration statement effective will be extended by the number of days during the period from and including the date of the giving of such notice pursuant to Section 2.3(f) to and including the date when each
seller of Registrable Securities covered by such registration statement has received the copies of the supplemented or amended prospectus contemplated by Section 2.3(f). 

(c) Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in
Section 2.3(l)(iv), it will forthwith discontinue disposition of Registrable Securities pursuant to the registration statement covering such Registrable Securities until the lifting of such stop order, other order or suspension or the

  
 -13- 

 
termination of such proceedings and, if so directed by the Company, each Holder will deliver to the Company or destroy (at the Company’s expense) all copies, other than permanent file copies
then in its possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice. In the event the Company gives any such notice, the period for which the Company will be required to keep the registration
statement effective will be extended by the number of days during the period from and including the date of the giving of such notice pursuant to Section 2.3(l)(iv) to and including the date when such stop order, other order or suspension is
lifted or such proceedings are terminated. 
 (d) (i) Each Holder will, in connection with a Public Offering of the Company’s equity
Securities (whether for the Company’s account or for the account of any Holder or Holders, or any or all of them), upon the request of the Company or of the underwriters managing any underwritten offering of the Company’s Securities, agree
in writing not to effect any sale, disposition or distribution of Registrable Securities (other than those included in the Public Offering) without the prior written consent of the managing underwriter for such period of time commencing seven
(7) days before and ending one hundred eighty (180) days (or such earlier date as the managing underwriter shall agree) after the date of the final prospectus relating to such offering; provided that the Company shall cause all
directors and executive officers of the Company, Holders of more than 5% of the Registrable Securities and all other Persons with registration rights with respect to the Company’s Securities (whether or not pursuant to this Agreement) (other
than those that are parties to the LQ Parent Registration Agreement) to enter into agreements similar to those contained in this Section 2.4(d)(i) (without regard to this proviso); and (ii) the Company and its Subsidiaries will, in
connection with an underwritten Public Offering of the Company’s Securities in respect of which Registrable Securities are included, upon the request of the underwriters managing such offering, agree in writing not to effect any sale,
disposition or distribution of equity Securities of the Company (other than those included in such Public Offering, offered pursuant to Section 2.2(f), offered on Form S-8, issuable upon conversion of
Securities or upon the exercise of options, or the grant of options in the ordinary course of business pursuant to then-existing management equity plans or equity-based employee benefit plans, in each case outstanding on the date a notice is given
by the Company pursuant to Section 2.1(a) or a request is made pursuant to Section 2.2(a), as the case may be), without the prior written consent of the managing underwriter, for such period of time commencing seven (7) days before
and ending one hundred eighty (180) days (or such earlier date as the managing underwriter shall agree) after the date of the final prospectus relating to such sale. 

(e) With a view to making available the benefits of certain rules and regulations of the SEC which may at any time permit the sale of
Securities of the Company to the public without registration after such time as a public market exists for Registrable Securities, the Company agrees: 

(i) to make and keep public information available, as those terms are understood and defined in Rule 144 under the Securities
Act, at all times after the effective date of the first registration under the Securities Act filed by the Company for an offering of its Securities to the public; 

  
 -14- 

 (ii) to use its commercially reasonable efforts to then file with the SEC in a
timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements); and 

(iii) so long as a Holder owns any Registrable Securities, to furnish to such Holder promptly upon request: (A) a written
statement by the Company as to its compliance with the reporting requirements of Rule 144 (at any time after ninety (90) days after the effective date of the first registration statement filed by the Company for an offering of its Securities to
the public), and of the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements); (B) a copy of the most recent annual or quarterly report of the Company; and (C) such other reports and
documents of the Company as such Holder may reasonably request in availing itself or himself of any rule or regulation of the SEC allowing such Holder to sell any such Securities without registration. 

(f) Counsel to represent Holders of Registrable Securities shall be selected by the Holders of at least a majority of the Registrable
Securities included in the relevant registration. 
 (g) Each of the parties hereto agrees that the registration rights provided to the
Holders herein are not intended to, and shall not be deemed to, override or limit any other restrictions on Transfer to which any such Holder may otherwise be subject. 

ARTICLE III 
 INDEMNIFICATION

 SECTION 3.1 Indemnification by the Company. In the event of any registration of any Securities of the Company under the
Securities Act pursuant to Sections 2.1 or 2.2, the Company hereby indemnifies and agrees to hold harmless, to the fullest extent permitted by Law, each Holder who sells Registrable Securities covered by such registration statement, each Affiliate
of such Holder and their respective directors and officers or general and limited partners (and the directors, officers, employees, Affiliates and controlling Persons of any of the foregoing), each other Person who participates as an underwriter in
the offering or sale of such Securities and each other Person, if any, who controls such Holder or any such underwriter within the meaning of the Securities Act (each, and “Indemnified Party” and collectively, the
“Indemnified Parties”), against any and all losses, claims, damages or liabilities, joint or several, and reasonable and documented expenses to which such Indemnified Party may become subject under the Securities Act, common law or
otherwise, insofar as such losses, claims, damages or liabilities (or actions or proceedings in respect thereof, whether or not such Indemnified Party is a party thereto) arise out of or are based upon: (a) any untrue statement or alleged
untrue statement of any material fact contained in any registration statement under which such Securities were registered under the Securities Act, any preliminary, final or summary prospectus contained therein, any “written communication”
(as defined in Rule 405 under the Securities Act) that constitutes an offer to sell or solicitation of an offer to buy the shares of Common Stock (each such communication by the Company or its agents and representatives (other than any document not
constituting a prospectus pursuant to Section 2(a)(10)(a) of the Securities Act or 

  
 -15- 

 
Rule 134 under the Securities Act) an “Issuer Free Writing Prospectus”) or any “issuer information” filed or required to be filed pursuant to Rule 433(d) under the
Securities Act, or any amendment or supplement thereto, or any document incorporated by reference therein, or any other such disclosure document (including reports and other documents filed under the Exchange Act and any document incorporated by
reference therein) or related document or report; (b) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in the case of a prospectus, in
the light of the circumstances when they were made; or (c) any violation or alleged violation by the Company or any of its Subsidiaries of any federal, state, foreign or common law rule or regulation applicable to the Company or any of its
Subsidiaries and relating to action or inaction in connection with any such registration, disclosure document or related document or report, and the Company will reimburse such Indemnified Party for any legal or other expenses reasonably incurred by
it in connection with investigating or defending any such loss, claim, liability, action or proceeding; provided that the Company will not be liable to any Indemnified Party in any such case to the extent that any such loss, claim, damage,
liability (or action or proceeding in respect thereof) or expense arises out of or is based upon any untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, in any such preliminary, final or
summary prospectus, or any amendment or supplement thereto in reliance upon and in conformity with written information with respect to such Indemnified Party furnished to the Company by such Indemnified Party expressly for use in the preparation
thereof. Such indemnity will remain in full force and effect regardless of any investigation made by or on behalf of such Holder or any Indemnified Party and will survive the Transfer of such Securities by such Holder or any termination of this
Agreement. 
 SECTION 3.2 Indemnification by the Holders and Underwriters. The Company may require, as a condition to
including any Registrable Securities in any registration statement filed in accordance with Sections 2.1 or 2.2, that the Company shall have received an undertaking reasonably satisfactory to it from the Holder of such Registrable Securities or any
prospective underwriter to indemnify and hold harmless (in the same manner and to the same extent as set forth in Section 3.1) the Company, all other Holders or any prospective underwriter, as the case may be, and any of their respective
Affiliates, directors, officers and controlling Persons, with respect to any untrue statement in or omission from such registration statement, any preliminary, final or summary prospectus contained therein, any Issuer Free Writing Prospectus or any
“issuer information” filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or any amendment or supplement, if such untrue statement or omission was made in reliance upon and in conformity with written information
with respect to such Holder or underwriter furnished to the Company by such Holder or underwriter expressly for use in the preparation of such registration statement, preliminary, final or summary prospectus or amendment or supplement, or a document
incorporated by reference into any of the foregoing. Such indemnity will remain in full force and effect regardless of any investigation made by or on behalf of the Company or any of the Holders, or any of their respective Affiliates, directors,
officers or controlling Persons and will survive the Transfer of such Securities by such Holder. In no event shall the liability of any selling Holder of Registrable Securities hereunder be greater in amount than the dollar amount of the proceeds
actually received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation. 

  
 -16- 

 SECTION 3.3 Notices of Claims, Etc. Promptly after receipt by an Indemnified Party
hereunder of written notice of the commencement of any action or proceeding with respect to which a claim for indemnification may be made pursuant to this Article III, such Indemnified Party will, if a claim in respect thereof is to be made against
an indemnifying party, give written notice to the latter of the commencement of such action; provided that the failure of the Indemnified Party to give notice as provided herein will not relieve the indemnifying party of its obligations under
Sections 3.1 or 3.2, except to the extent that the indemnifying party is actually prejudiced by such failure to give notice. In case any such action is brought against an Indemnified Party, unless in such Indemnified Party’s reasonable judgment
a conflict of interest between such indemnified and indemnifying parties may exist in respect of such claim, the indemnifying party will be entitled to participate in and to assume the defense thereof, jointly with any other indemnifying party
similarly notified to the extent that it may wish, with counsel selected by the Holders of at least a majority of the Registrable Securities included in the relevant registration, and after notice from the indemnifying party to such Indemnified
Party of its election so to assume the defense thereof, the indemnifying party will not be liable to such Indemnified Party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof other than
reasonable costs of investigation. If, in such Indemnified Party’s reasonable judgment, having common counsel would result in a conflict of interest between the interests of such indemnified and indemnifying parties, then such Indemnified Party
may employ separate counsel reasonably acceptable to the indemnifying party to represent or defend such Indemnified Party in such action, it being understood, however, that the indemnifying party will not be liable for the reasonable fees and
expenses of more than one separate firm of attorneys at any time for all such Indemnified Parties (and not more than one separate firm of local counsel at any time for all such Indemnified Parties) in such action. No indemnifying party will consent
to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such claim or litigation.

 SECTION 3.4 Contribution. If the indemnification provided for hereunder from the indemnifying party is unavailable to an
Indemnified Party hereunder in respect of any losses, claims, damages, liabilities or expenses referred to herein for reasons other than those described in the proviso in the first sentence of Section 3.1, then the indemnifying party, in lieu
of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate to reflect the relative fault
of the indemnifying party and Indemnified Parties in connection with the actions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative fault of such indemnifying
party and Indemnified Parties shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has
been made by, or relates to information supplied by, such indemnifying party or Indemnified Parties, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such action. The amount paid or
payable by a party under this Section 3.4 as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such party in connection with
any investigation or proceeding. In no event shall the liability of any selling Holder of Registrable Securities 
 hereunder be greater in amount than the
dollar amount of the proceeds actually received by such Holder upon the sale of the Registrable Securities giving rise to such contribution obligation. 

  
 -17- 

 The parties hereto agree that it would not be just and equitable if contribution pursuant to this
Section 3.4 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 

SECTION 3.5 Other Indemnification. Indemnification similar to that specified in this Article III (with appropriate modifications) shall
be given by the Company and each seller of Registrable Securities with respect to any required registration or other qualification of Securities under any Law or with any Governmental Authority other than as required by the Securities Act. 

SECTION 3.6 Non-Exclusivity. The obligations of the parties under this Article III will be in
addition to any liability which any party may otherwise have to any other party. 
 ARTICLE IV 

OTHER 
 SECTION 4.1
Notices. Any notice, request, instruction or other document to be given hereunder by any party hereto to another party hereto shall be in writing and shall be deemed given (a) when delivered personally, (b) five (5) Business
Days after being sent by certified or registered mail, postage prepaid, return receipt requested, (c) one (1) Business Day after being sent by Federal Express or other nationally recognized overnight courier, or (d) if transmitted by
facsimile, if confirmed within 24 hours thereafter by a signed original sent in the manner provided in clause (a), (b) or (c) to parties at the following addresses (or at such other address for a party as shall be specified by prior
written notice from such party): 
 if to the Company: 

CorePoint Lodging Inc. 
 909
Hidden Ridge, Suite 600 
 Irving, Texas 75038 

Attention: General Counsel 
 Fax:
[•] 
 if to Blackstone: 

The Blackstone Group L.P. 
 345
Park Avenue 
 New York, NY 10154 

Attention: [•] 
 Fax: (212) 583-5191 

  
 -18- 

 SECTION 4.2 Assignment. Neither the Company nor any Holder shall assign all or any part of
this Agreement without the prior written consent of the Company and Blackstone; provided, however, that any Blackstone Entity may assign its rights and obligations under this Agreement in whole or in part to any of its Affiliates.
Except as otherwise provided herein, this Agreement will inure to the benefit of and be binding on the parties hereto and their respective successors and permitted assigns. If the Common Stock shall be exchanged for or replaced by Securities of
another Person, the Company shall use reasonable best efforts to cause such Person to expressly assume all of the Company’s obligations hereunder, to the extent applicable. 

SECTION 4.3 Amendments; Waiver. This Agreement may be amended, supplemented or otherwise modified only by a written instrument executed
by the Company and the Holders holding a majority of the Registrable Securities subject to this Agreement; provided that no such amendment, supplement or other modification shall adversely affect the economic interests of any Holder hereunder
disproportionately to other Holders without the written consent of such Holder. No waiver by any party of any of the provisions hereof will be effective unless explicitly set forth in writing and executed by the party so waiving. Except as provided
in the preceding sentence, no action taken pursuant to this Agreement, including without limitation, any investigation by or on behalf of any party, will be deemed to constitute a waiver by the party taking such action of compliance with any
covenants or agreements contained herein. The waiver by any party hereto of a breach of any provision of this Agreement will not operate or be construed as a waiver of any subsequent breach. 

SECTION 4.4 Third Parties. This Agreement does not create any rights, claims or benefits inuring to any person that is not a party
hereto nor create or establish any third party beneficiary hereto. 
 SECTION 4.5 Governing Law. This Agreement shall be governed by,
and construed and enforced in accordance with, the laws of the State of Delaware. 
 SECTION 4.6 Jurisdiction. The Delaware Court of
Chancery and any state appellate court therefrom within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, any state or federal court within the State of Delaware) shall have
exclusive jurisdiction over the parties with respect to any dispute or controversy between them arising under or in connection with this agreement and, by execution and delivery of this agreement, each of the parties to this Agreement submits to the
exclusive jurisdiction of those courts, including but not limited to the in personam and subject matter jurisdiction of those courts, waives any objections to such jurisdiction on the grounds of venue or forum non conveniens, the
absence of in personam or subject matter jurisdiction and any similar grounds, consents to service of process by mail (in accordance with the notice provisions of this Agreement) or any other manner permitted by Law, and irrevocably agrees to
be bound by any judgment rendered thereby in connection with this Agreement. 
 SECTION 4.7 MUTUAL WAIVER OF JURY TRIAL. THE PARTIES
HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING BROUGHT TO ENFORCE OR DEFEND ANY RIGHTS OR REMEDIES UNDER THIS AGREEMENT. 

  
 -19- 

 SECTION 4.8 Specific Performance. Each of the parties hereto acknowledges and agrees that
in the event of any breach of this Agreement by any of them, the non-breaching party would be irreparably harmed and could not be made whole by monetary damages. Each party accordingly agrees to waive the
defense in any action for specific performance that a remedy at law would be adequate and that the parties, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to compel specific performance of this
Agreement. 
 SECTION 4.9 Entire Agreement. This Agreement sets forth the entire understanding of the parties hereto with respect to
the subject matter hereof. There are no agreements, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth herein. This Agreement supersedes all other prior agreements
and understandings between the parties with respect to such subject matter. 
 SECTION 4.10 Severability. If one or more of the
provisions, paragraphs, words, clauses, phrases or sentences contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any
such provision, paragraph, word, clause, phrase or sentence in every other respect and of the remaining provisions, paragraphs, words, clauses, phrases or sentences hereof shall not be in any way impaired, it being intended that all rights, powers
and privileges of the parties hereto shall be enforceable to the fullest extent permitted by Law. 
 SECTION 4.11 Counterparts. This
Agreement may be executed in any number of counterparts, each of which will be deemed to be an original and all of which together will be deemed to be one and the same instrument. 

SECTION 4.12 Effectiveness. This Agreement shall become effective, as to any Holder, as of the date signed by the Company and
countersigned by such Holder. 
 [Remainder of Page Intentionally Left Blank] 

  
 -20- 

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

			
	COREPOINT LODGING INC.
		
	By:	 	  

	Name:	 	[•]
	Title:	 	[•]

 [Signature Page to Registration Rights Agreement] 

  

                       
         BLACKSTONE: 

					
		
		 	BLACKSTONE REAL ESTATE PARTNERS IV L.P.
		 	BLACKSTONE REAL ESTATE PARTNERS IV.F L.P.
		 	BLACKSTONE REAL ESTATE PARTNERS IV.TE.2 L.P.
		 	BLACKSTONE REAL ESTATE PARTNERS (DC) IV.TE.1 L.P.
		 	BLACKSTONE REAL ESTATE PARTNERS (DC) IV.TE.2 L.P.
		 	BLACKSTONE REAL ESTATE PARTNERS (DC) IV.TE.3-A L.P.
			
		 	By:	 	Blackstone Real Estate Associates IV L.P., its General Partner
			
		 	By:	 	BREA IV L.L.C., its General Partner
			
		 	By:	 	  

		 		 	Name: William J. Stein
		 		 	Title: Authorized Signatory
		
		 	BLACKSTONE REAL ESTATE PARTNERS V L.P.
		 	BLACKSTONE REAL ESTATE PARTNERS V.F L.P.
		 	BLACKSTONE REAL ESTATE PARTNERS V.TE.1 L.P.
		 	BLACKSTONE REAL ESTATE PARTNERS V.TE.2 L.P.
		 	BLACKSTONE REAL ESTATE PARTNERS (AIV) V L.P.
			
		 	By:	 	Blackstone Real Estate Associates V L.P., its General Partner
			
		 	By:	 	BREA V L.L.C., its General Partner
			
		 	By:	 	  

		 		 	Name: William J. Stein
		 		 	Title: Authorized Signatory

 [Signature Page to Registration Rights Agreement] 

  

 
			
	BLACKSTONE REAL ESTATE HOLDINGS IV L.P.
		
	By:	 	BREP IV Side-by-Side GP L.L.C., its General Partner
		
	By:	 	  

		 	Name: William J. Stein
		 	Title: Authorized Signatory
	
	BLACKSTONE REAL ESTATE HOLDINGS V L.P.
		
	By:	 	BREP V Side-by-Side GP L.L.C., its General Partner
		
	By:	 	  

		 	Name: William J. Stein
		 	Title: Authorized Signatory
	
	BRE/LQJV-NQ L.L.C.
		
	By:	 	  

		 	Name: William J. Stein
		 	Title: Authorized Signatory
	
	BRE/PRIME MEZZ 2 L.L.C.
		
	By:	 	  

		 	Name: William J. Stein
		 	Title: Authorized Signatory

 [Signature Page to Registration Rights Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}]]