Document:

Exhibit 4.1

 

UNDERWRITER COMMON STOCK PURCHASE WARRANT

 

Aytu
BioScience, Inc.

 

	Warrant Shares: _______	Issue Date: December 15, 2020
	 	 
	 	Initial Exercise Date: December 15, 2020

 

THIS UNDERWRITER
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns
(the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after the date set forth above (the “Initial Exercise Date”) and on or prior to
5:00 p.m. (New York City time) on December 15, 2025 (the “Termination Date”) but not thereafter, to subscribe
for and purchase from Aytu BioScience, Inc., a Delaware corporation (the “Company”), up to ______ shares (as
subject to adjustment hereunder, the “Warrant Shares”) of the Company’s Common Stock. The purchase price
of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b). This Warrant
is being issued pursuant to that certain Underwriting Agreement, dated as of December 10, 2020 by and between the Company and
H.C. Wainwright & Co., LLC (as amended and restated the “Underwriting Agreement”). 

Section 1. Definitions.
In addition to the terms defined elsewhere in this Warrant or in the Underwriting Agreement, the following terms have the meanings
indicated in this Section 1:

 

“Common Stock
Equivalents” means any securities of the Company or its subsidiaries which would entitle the holder thereof to acquire at
any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that
is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.

 

“Trading Day”
means a day on which the Common Stock is traded on a Trading Market.

 

“Trading Market”
means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question:
the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange
(or any successors to any of the foregoing.

 

“Transfer
Agent” means Issuer Direct Corporation, the current transfer agent of the Company, with a mailing address of One Glenwood
Ave, Suite 1001 Raleigh, NC 27603 and a facsimile number of (646) 225-7274, and any successor transfer agent of the Company. 

“Warrants”
means this Warrant and other underwriter common stock purchase warrants issued by the Company pursuant to the Underwriting Agreement.

 

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Section 2. Exercise.

 

a) Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile
copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice
of Exercise”). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard
Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver
the aggregate Exercise Price for the Warrant Shares specified in the applicable Notice of Exercise by wire transfer or cashier’s
check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the
applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other
type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the
Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant
Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to
the Company for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is delivered to the
Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available
hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to
the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant
Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1)
Trading Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that,
by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number
of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

b) Exercise
Price. The exercise price per share of Common Stock under this Warrant shall be $7.50, subject to adjustment
hereunder (the “Exercise Price”).

 

 

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c) Cashless
Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained
therein is not available for the issuance or resale of the Warrant Shares to or by the Holder, then this Warrant may also be exercised,
in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive
a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

		(A) =	as applicable: (i) the VWAP on the Trading Day immediately
preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant
to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on
a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(68) of Regulation NMS promulgated
under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day
immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal
Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise
if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two
(2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant
to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise
is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of
“regular trading hours” on such Trading Day;

 

		(B) =	the Exercise Price of this Warrant, as adjusted hereunder;
and

 

		(X) =	the number of Warrant Shares that would be issuable
upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather
than a cashless exercise.

 

“Bid
Price” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common
Stock is then listed or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on
a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market,
the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported on The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most
recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common
Stock as determined by an independent appraiser selected in good faith by the Holders of a majority in interest of the Securities
then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the
volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported on The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most
recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common
Stock as determined by an independent appraiser selected in good faith by the Holders of a majority in interest of the Securities
then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

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If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9)
of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised.  The
Company agrees not to take any position contrary to this Section 2(c).

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant
to this Section 2(c).

 

d) Mechanics
of Exercise.

 

i. Delivery
of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by the Transfer
Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository
Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant
in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or
resale of the Warrant Shares by the Holder or (B) this Warrant is being exercised via cashless exercise, and otherwise by physical
delivery of a certificate, registered in the Company’s share register in the name of the Holder or its designee, for the
number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the
Notice of Exercise by the date that is the earlier of (A) the earlier of (i) two (2) Trading Days and (ii) the number of days comprising
the Standard Settlement Period, in each case after the delivery to the Company of the Notice of Exercise and (B) one (1) Trading
Day after delivery of the aggregate Exercise Price to the Company (such date, the “Warrant Share Delivery Date”).
Upon delivery of the Notice of Exercise, the Holder shall be deemed for all corporate purposes to have become the holder of record
of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant
Shares, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received by the
Warrant Share Delivery Date. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice
of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as
a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the
applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated
damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered or
Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long
as this Warrant remains outstanding and exercisable. As used herein, “Standard Settlement Period” means the
standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to
the Common Stock as in effect on the date of delivery of the Notice of Exercise.

 

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ii. Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.

 

iii. Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv. Compensation
for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder,
if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions
of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder
is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise
purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated
receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount,
if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common
Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required
to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such
purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent
number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver
to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise
and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase price of $11,000
to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such
purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the
Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the
Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right
to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific
performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock upon
exercise of the Warrant as required pursuant to the terms hereof.

 

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v. No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

vi. Charges,
Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or
other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the
Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder;
provided, however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder
and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental
thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees
to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day
electronic delivery of the Warrant Shares.

 

vii. Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.

 

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e) Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after
exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other
Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution
Parties”), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes
of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution
Parties shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination
is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining,
nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii)
exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation,
any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein
beneficially owned by the Holder or any of its Affiliates or Attribution Parties.  Except as set forth in the preceding sentence,
for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act
and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing
to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible
for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e)
applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together
with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion
of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties)
and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company
shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group
status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder
may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual
report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent
written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  Upon
the written or oral request of a Holder, the Company shall within one (1) Trading Day confirm orally and in writing to the Holder
the number of shares of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall
be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder
or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported.
The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding
immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon
notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that
the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately
after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions
of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the
61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented
in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof)
which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or
supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall
apply to a successor holder of this Warrant.

 

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Section 3. Certain
Adjustments.

 

a) Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification
of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the
aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b) Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to
any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date
on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as
of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, that to the extent that the Holder’s right to participate in any such Purchase Right would
result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such
Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such
extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right
thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

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c) Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend (other
than cash) or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of
return of capital or otherwise (including, without limitation, any distribution of stock or other securities, property or options
by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction)
(a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall
be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder
had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations
on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record
is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock
are to be determined for the participation in such Distribution (provided, however, that to the extent that the Holder's
right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the
Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of
Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for
the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial
Ownership Limitation).

 

d) Reserved.

 

e) Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

f) Notice
to Holder.

 

i. Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

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ii. Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email
to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least
20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which
a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to
be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption,
rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or
share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock
of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon
such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice
or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified
in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information
regarding the Company or any of its subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant
to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the
date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

Section 4. Transfer
of Warrant.

 

a) Transferability.
Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof, this Warrant and
all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender
of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant
substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any
transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall
execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination
or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary,
the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant
in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date on which
the Holder delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if properly assigned in accordance
herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

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b) New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Issue
Date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c) Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.

 

Section 5. Miscellaneous.

 

a) No
Rights as Stockholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights,
dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except
as expressly set forth in Section 3. Without limiting the rights of a Holder to receive Warrant Shares on a “cashless exercise,”
and to receive the cash payments contemplated pursuant to Sections 2(d)(i) and 2(d)(iv), in no event will the Company be required
to net cash settle an exercise of this Warrant.

 

b) Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of
the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

c) Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next succeeding
Trading Day.

 

    11

     

    

 

d) Authorized
Shares.

 

The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company
will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be
listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance
herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by
the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such
issue).

 

Except and
to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable
therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant
and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before taking
any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary
from any public regulatory body or bodies having jurisdiction thereof.

 

e) Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the Underwriting Agreement.

 

    12

     

    

 

f) Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does
not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g) Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, notwithstanding the fact that the
right to exercise this Warrant terminates on the Termination Date. Without limiting any other provision of this Warrant or the
Underwriting Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results
in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs
and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred
by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

h) Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
to the address for the Holder that appears in the Company’s Warrant Register.

 

i) Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

j) Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

k) Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant Shares.

 

l) Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company, on the one hand,
and the Holder of this Warrant, on the other hand.

 

m) Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

n) Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

********************

 

(Signature Page Follows)

 

    13

     

    

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

 

	 	AYTU BIOSCIENCE, INC.
	 	 
	 	By:	 
	 	 	Name: David Green
	 	 	Title: Chief Financial Officer

 

 

    14

     

    

 

NOTICE OF EXERCISE

 

To:
AYTU BIOSCIENCE, INC.

 

(1) The undersigned
hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised
in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2) Payment
shall take the form of (check applicable box):

 

☐
in lawful money of the United States; or

 

☐
if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection
2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise
procedure set forth in subsection 2(c).

 

(3) Please
issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

(4) The time
of day this Notice of Exercise is being executed is:

 

_______________________________

 

The Warrant Shares shall be delivered to
the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: ________________________________________________________________________

Signature of Authorized Signatory of
Investing Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: ________________________________________________________________________________________

 

     

     

    

 

EXHIBIT B

 

ASSIGNMENT
FORM

(To assign the
foregoing Warrant, execute this form and supply required information. Do not use this form to exercise the Warrant to purchase
shares.)

 

FOR VALUE RECEIVED,
the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 	 
	 	 	(Please Print)
	 	 	 
	Address:	 	 
	 	 	(Please Print)
	 	 	 
	Phone Number:	 	 
	 	 	 
	Email Address: 	 	 
	 	 	 
	Dated: _______________ __, ______	 	 
	 	 	 
	Holder’s Signature: ___________________________	 	 
	 	 	 
	Holder’s Address: ____________________________Exhibit 10.1

 

Loan Numbers: 1008457,

1008458,

and 1010219

 

SECOND AMENDMENT TO

 

THIRD AMENDED AND RESTATED
CREDIT AGREEMENT

 

THIS SECOND AMENDMENT
TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of December 10. 2020, is made
by and between RLJ LODGING TRUST, L.P., a limited partnership formed under the laws of the State of Delaware (the “Borrower”),
RLJ LODGING TRUST, a Maryland real estate investment trust (the “Parent Guarantor”), each of the undersigned
Subsidiary Guarantors (as defined in the Amended Credit Agreement (as defined below)), the Lenders party hereto (the “Lenders”),
and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent (the “Administrative Agent”).

 

WHEREAS, the Borrower,
the Parent Guarantor, the Administrative Agent and the financial institutions initially a signatory to the Existing Credit Agreement
(as defined below) together with their successors and assigns under Section 13.6 of the Existing Credit Agreement have entered
into that certain Third Amended and Restated Credit Agreement dated as of December 18, 2019 (as amended by the First Amendment
to Third Amended and Restated Credit Agreement, dated as of June 24, 2020, as further amended, restated, supplemented or otherwise
modified from time to time prior to the date hereof, the “Existing Credit Agreement”). Capitalized terms used
herein and not defined herein have the meanings provided in the Amended Credit Agreement (as defined below).

 

WHEREAS, the Borrower
and the Parent Guarantor have requested that the Administrative Agent and the Lenders amend certain terms and conditions of the
Existing Credit Agreement as described herein; and

 

WHEREAS, the Administrative
Agent and the Lenders party to this Amendment (which Lenders comprise the Requisite Lenders under the Existing Credit Agreement)
have agreed to so amend certain terms and conditions of the Existing Credit Agreement to make certain agreed upon modifications
on the terms and conditions set forth below in this Amendment.

 

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

 

1.             Amendments
to Existing Credit Agreement. Effective as set forth in Section 2 below, the Existing Credit Agreement is hereby
amended as follows (the “Amended Credit Agreement”):

 

    

    

    

 

(a)           Section
1.1 of the Existing Credit Agreement is hereby amended to add or amend and restate, as applicable, each of the following defined
terms in the appropriate alphabetical order:

 

“2022
CMBS Secured Indebtedness” shall mean the securitized asset-level Secured Indebtedness of certain Subsidiaries of the
Parent, in the aggregate outstanding principal balance as of September 30, 2020, of approximately $144,500,000, maturing in 2022,
and encumbering the following Properties: (i) Residence Inn Palo Alto Los Altos, located in Los Altos, CA, (ii) the Embassy Suites
Birmingham, located in Birmingham, AL, (iii) the Embassy Suites Fort Lauderdale 17th Street, located in Fort Lauderdale,
FL, (iv) the Embassy Suites Minneapolis – Airport, located in Bloomington MN, and (v) the Embassy Suites Deerfield Beach
 – Resort & Spa, located in Deerfield Beach, FL.

 

“Covenant
Relief Period” shall mean the period commencing on April 1, 2020 and ending on the earlier of (i) January 1, 2022 and
(ii) the date the Parent Guarantor delivers (a) a Compliance Certificate pursuant to Section 9.3 with respect to any fiscal
quarter of the Parent Guarantor ending after the First Amendment Effective Date but prior to March 31, 2022 that shows compliance
with the levels of the Financial Covenants in effect for the period ending on March 31, 2022 (after giving effect to Section 1.6
below with respect to the testing period applicable to such test date) and (b) written notice to the Administrative Agent electing
to terminate the Covenant Relief Period concurrently with the delivery of such Compliance Certificate referenced in clause (a)
above.

 

“Leverage
Relief Period” shall mean the period commencing on April 1, 2020 and ending on the earlier of (i) the earlier of (x)
April 1, 2023 and (y) the day after the last day of the fifth (5th) fiscal quarter of the Parent Guarantor immediately following
the Covenant Relief Period Termination Date, and (ii) the date the Parent Guarantor delivers (a) a Compliance Certificate pursuant
to Section 9.3 with respect to any fiscal quarter of the Parent Guarantor ending after the First Amendment Effective Date
but prior to March 31, 2023 that shows a Leverage Ratio of less than or equal to 7.00 to 1.00 (after giving effect to Section
1.6 below with respect to the testing period applicable to such test date) and (b) written notice to the Administrative Agent
electing to terminate the Leverage Relief Period concurrently with the delivery of such Compliance Certificate referenced in clause
(a) above.

 

    2

    

    

 

“Leverage
Relief Period Applicable Margin” shall mean, at all times during the period commencing on the Second Amendment Effective
Date and ending on the Leverage Relief Period Termination Date:

 

	Facility	Applicable

 Margin for 

Base Rate 

Loans	Applicable

 Margin 

for 

LIBOR 

Loans
	Revolving Credit Facility	1.50%	2.50%
	Tranche A-1 Term Loan Facility	1.40%	2.40%
	Tranche A-2 Term Loan Facility	1.40%	2.40%

 

 

“Qualified
Earlier Maturing Indebtedness” has the meaning given that term in Section 2.8(b)(iv)(D).

 

“Restriction
Period” shall mean the period commencing on the First Amendment Effective Date and, so long as no Default or Event of
Default is then continuing, terminating on the earlier of (i) the date that the Covenant Relief Period is terminated in accordance
with clause (ii) of the definition thereof, and (ii) the date the Parent Guarantor delivers the Compliance Certificate with respect
to the fiscal quarter of the Parent Guarantor ending March 31, 2022 in accordance with Section 9.3 of this Agreement
demonstrating compliance with the levels of the Financial Covenants for the testing period ending on March 31, 2022.

 

(b)           Section 1.6 is
hereby amended by replacing the table set forth therein with the following table:

 

	Test Date	Calculation
	In respect of the earlier of (i) March 31, 2022 or (ii) the first test date following the Covenant Relief Period Termination Date	Applicable calculations/results for the one (1) fiscal quarter ending on such test date (or if such test date does not occur as of the end of a fiscal quarter, the fiscal quarter most recently ended prior to such test date) multiplied by 4.
	In respect of the earlier of (i) June 30, 2022 or (ii) the second test date following the Covenant Relief Period Termination Date	Applicable calculations/results for the two (2) fiscal quarters ending on such test date (or if such test date does not occur as of the end of a fiscal quarter, the two (2) fiscal quarters most recently ended prior to such test date) multiplied by 2.
	In respect of the earlier of (i) September 30, 2022 or (ii) the third test date following the Covenant Relief Period Termination Date	Applicable calculations/results for the three (3) fiscal quarters ending on such test date (or if such test date does not occur as of the end of a fiscal quarter, the three (3) fiscal quarters most recently ended prior to such test date) multiplied by 4/3.
	For each test date thereafter 	Applicable calculations/results for the four (4) fiscal quarters ending on such test date (or if such test date does not occur as of the end of a fiscal quarter, the four (4) fiscal quarters most recently ended prior to such test date)

 

    3

    

    

 

(c)         
Section 2.8(b)(iv) is hereby amended by:

 

 (i)            Amending and restating the introductory paragraph thereof to read as follows:

 

“(iv)       Mandatory
Prepayments During Restriction Period and Covenant Relief Pledged Collateral Period. Unless otherwise consented to by the Requisite
Lenders in writing, during the Restriction Period (or during such other period as specified in clause (C) below) the Borrower will
be required to prepay the Pari Passu Debt and the Facilities as set forth in this Section 2.8(b)(iv) unless permitted to be retained
by the Borrower or applied as a repayment of Qualified Earlier Maturing Indebtedness, in each case in accordance with clause (D)
below; provided that any and all such Net Proceeds shall only be payable after the aggregate amount of Net Proceeds with respect
to any category of transactions described in clauses (A) through (C) below exceeds $5,000,000.”

 

 (ii)          in each of clauses (A) and (B) thereof, replacing each reference to “the Prepayment Waterfall” with reference to “clause (D) below”,

    4

    

    

 

 (iii)         amending and restating clause (C) thereof to read as follows:

 

“(C)        Asset
Dispositions and Insurance and Condemnation Events. The Borrower shall make mandatory principal prepayments of the Pari Passu
Debt and the Facilities in the manner set forth clause (D) below in amounts equal to one hundred percent (100%) of the aggregate
Net Proceeds received by the Parent Guarantor, the Borrower and their Subsidiaries during the Restriction Period (or, with respect
to clause (i)(Y) below, during the Covenant Relief Pledged Collateral Period) from (i)(X) any non-ordinary course Asset Disposition
occurring during the Restriction Period (for the avoidance of doubt, the sale of any Property (whether or not permitted by the
Loan Documents) shall be deemed to be non-ordinary course) or (Y) any Asset Disposition of a Borrowing Base Property occurring
during the Covenant Relief Pledged Collateral Period; provided that there shall be excluded from this clause (i) any Net Proceeds
(1) received from sales of personal property which do not in the aggregate with all such sales during the Restriction Period, exceed
$10,000,000, (2) received from intercompany transfers that do not result in a reduction of the value of the assets owned by the
Loan Parties and their Wholly-Owned Subsidiaries on a consolidated basis or that constitute Permitted Investments, (3) received
by any Excluded FelCor Subsidiary from an Asset Disposition, so long as the Net Proceeds therefrom are not distributed to a Loan
Party or Subsidiary (other than an Excluded FelCor Subsidiary) and the aggregate Net Proceeds received from such Asset Dispositions,
together with the aggregate Net Proceeds received pursuant to clause (A)(iv) above, do not exceed $250,000,000 (such Net Proceeds,
the “Excluded FelCor Net Proceeds”) or (4) that are held for application in connection with an exchange or swap of
Property in a transaction covered by Section 1031 of the Internal Revenue Code; provided that the Property acquired in such exchange
shall become an Eligible Property and the Subsidiary that acquires such Property shall become a Subsidiary Guarantor, or (ii) any
Insurance and Condemnation Event occurring during the Restriction Period (except to the extent the Borrower shall confirm to the
Administrative Agent that the Borrower has a reasonable expectation to reinvest such Net Proceeds from such Insurance and Condemnation
Event in the restoration or rebuilding of the applicable affected asset; provided, that any Net Proceeds of such Insurance and
Condemnation Event received in excess of the costs of such restoration or replacement shall be applied to the Pari Passu Debt and
the Facilities in accordance with clause D below), other than Net Proceeds received by any Excluded FelCor Subsidiary from an Insurance
and Condemnation Event, so long as the Net Proceeds therefrom are not distributed to a Loan Party or Subsidiary (other than an
Excluded FelCor Subsidiary). Such prepayments shall be made within five (5) Business Days after the Net Proceeds Receipt Date of
such Asset Disposition or Insurance and Condemnation Event, as applicable.”

 

 (iv)         amending and restating clause (D) thereof to read as follows:

 

“(D)        Prepayment
Waterfall. Each prepayment under this Section 2.8(b)(iv) shall be applied in the manner set forth in the Prepayment
Waterfall; provided, however, that (I) the Borrower shall be permitted to apply the Net Proceeds of any prepayment event under
this Section 2.8(b)(iv) as a repayment of Qualified Earlier Maturing Indebtedness in lieu of making such application pursuant to
the Prepayment Waterfall and (II) to the extent that any prepayment made in reliance on clause (I) is not applied (or permitted
to be applied) to the 2022 CMBS Secured Indebtedness, such prepayment shall be applied to the Qualified Earlier Maturing Indebtedness
in direct order of maturity (it being understood for this purpose that the amount of any scheduled debt amortization payments shall
be treated as debt maturing on the date such amortization payment is due). To extent that the Borrower does not apply such Net
Proceeds to the payment of Qualified Earlier Maturing Indebtedness in accordance with this clause (D), such unapplied Net Proceeds
shall be applied to the principal prepayment of the Pari Passu Debt and the Facilities in the manner set forth in the Prepayment
Waterfall. As used herein, “Qualified Earlier Maturing Indebtedness” shall mean (i) solely in the case of Net
Proceeds of an Equity Issuance or a Debt Issuance, the 2022 CMBS Secured Indebtedness and (ii) in the case of all Net Proceeds
required to be prepaid pursuant to this Section 2.8(b)(iv), any Unsecured Indebtedness of Parent Guarantor or any of its
Subsidiaries that (X) has a final maturity date prior to the Tranche A-2 Term Loan Maturity Date or (Y) includes scheduled amortization
payments that are required prior to the Tranche A-2 Term Loan Maturity Date; provided that in the case of this clause (Y), such
Indebtedness shall only constitute Qualified Earlier Maturing Indebtedness to the extent of the amount of such scheduled amortization
payments that are required prior to Tranche A-2 Term Loan Maturity Date.”

 

    5

    

    

 

(d)           Section 10.1(a) is hereby amended by replacing the table set forth therein with the following table:

 

	Leverage Relief Period Test Date	Ratio
	In respect of the test date occurring as of the end of the earlier of (i) the fiscal quarter of the Parent Guarantor ending on March 31, 2022 and (ii) the first fiscal quarter of the Parent Guarantor following the Covenant Relief Period Termination Date	8.50 to 1.00
	In respect of the test date occurring as of the end of the earlier of (i) the fiscal quarter of the Parent Guarantor ending on June 30, 2022 and (ii) the second fiscal quarter of the Parent Guarantor following the Covenant Relief Period Termination Date	8.50 to 1.00
	In respect of the test date occurring as of the end of the earlier of (i) the fiscal quarter of the Parent Guarantor ending on September 30, 2022 and (ii) the third fiscal quarter of the Parent Guarantor following the Covenant Relief Period Termination Date	8.00 to 1.00
	In respect of the test date occurring as of the end of the earlier of (i) the fiscal quarter of the Parent Guarantor ending on December 31, 2022 and (ii) the fourth fiscal quarter of the Parent Guarantor following the Covenant Relief Period Termination Date	8.00 to 1.00
	In respect of the test date occurring as of the end of the earlier of (i) the fiscal quarter of the Parent Guarantor ending on March 31, 2023 and (ii) the fifth fiscal quarter of the Parent Guarantor following the Covenant Relief Period Termination Date	7.50 to 1.00

 

    6

    

    

 

(e)           Section
10.1(d) is hereby amended by replacing the reference to “Restriction Period” with a reference to “Leverage
Relief Period”.

 

(f)            Section 10.1(f) is
hereby amended by replacing the table set forth therein with the following table:

 

	Test Date	Ratio
	In respect of any other test date prior to the fiscal quarter of the Parent Guarantor ending on March 31, 2020	2.00 to 1.00
	In respect of the fiscal quarter of the Parent Guarantor ending on March 31, 2020	1.50 to 1.00
	In respect of the test date occurring as of the end of the earlier of (i) the fiscal quarter of the Parent Guarantor ending on March 31, 2022 and (ii) the first fiscal quarter of the Parent Guarantor following the Covenant Relief Period Termination Date	1.65 to 1.00
	In respect of the test date occurring as of the end of the earlier of (i) the fiscal quarter of the Parent Guarantor ending on June 30, 2022 and (ii) the second fiscal quarter of the Parent Guarantor date following the Covenant Relief Period Termination Date	1.65 to 1.00
	In respect of the test date occurring as of the end of the earlier of (i) the fiscal quarter of the Parent Guarantor ending on September 30, 2022 and (ii) the third fiscal quarter of the Parent Guarantor following the Covenant Relief Period Termination Date	1.65 to 1.00
	In respect of the test date occurring as of the end of the earlier of (i) the fiscal quarter of the Parent Guarantor ending on December 31, 2022 and (ii) the fourth fiscal quarter of the Parent Guarantor following the Covenant Relief Period Termination Date	2.00 to 1.00
	For each of the test dates occurring as of the end of the fiscal quarter of the Parent Guarantor thereafter 	2.00 to 1.00

 

    7

    

    

 

(g)          Section 10.12(a)(viii) and (ix) are hereby amended and restated in their entirety to read as follows:

 

“(viii)      other
Borrowed Money Recourse Debt in respect of money borrowed which (A) is Unsecured Indebtedness, (B) has no scheduled amortization
or maturity prior to the 6-month anniversary of any Tranche A-2 Term Loan Maturity Date, and (C) does not result in a default,
event of default, or the breach of any incurrence test, under any other Indebtedness of the Parent Guarantor, the Borrower or its
Subsidiaries, and provided that the Net Proceeds of such Borrowed Money Recourse Debt incurred pursuant to this clause (viii) are,
to the extent required under Section 2.8(b)(iv), used to prepay outstanding amounts under the Facilities and the Pari
Passu Debt, or applied to Qualifying Earlier Maturity Indebtedness, in each case in accordance with Section 2.8(b)(iv)(D),

 

(ix)           Permitted Refinancing Indebtedness; provided that the Net Proceeds of such Permitted Refinancing Indebtedness incurred pursuant
to this clause (ix) are, to the extent required under Section 2.8(b)(iv), used to prepay outstanding amounts under
the Facilities and the Pari Passu Debt, or applied to Qualified Earlier Maturity Indebtedness, in each case in accordance with
Section 2.8(b)(iv)(D); and”

 

(h)          Section 10.12(e)
is hereby amended by adding “or as otherwise permitted under Section 2.8(b)(iv)(D) at the end of clause
(ii) thereof.

 

2.            Conditions
to Effectiveness. The effectiveness of this Amendment is subject to the satisfaction or waiver of the following conditions
precedent:

 

(a)          The
Administrative Agent shall have received:

 

(i)           counterparts
of this Amendment duly executed and delivered by the Borrower and the other Loan Parties, the Administrative Agent and the Requisite
Lenders;

 

(ii)          [intentionally omitted];

 

(iii)         the
certificate or articles of incorporation or formation, articles of organization, certificate of limited partnership or other comparable
organizational document (if any) of each Loan Party certified as of a date not earlier than fifteen (15) days prior to the date
hereof by the Secretary of State of the state of formation of such Loan Party (except that, if any such document relating to any
Loan Party delivered to the Administrative Agent pursuant to the Existing Credit Agreement has not been modified or amended since
the First Amendment Effective Date and remains in full force and effect, a certificate of the Secretary or Assistant Secretary
(or other individual performing similar functions) of such Subsidiary Guarantor so stating may be delivered in lieu of delivery
of a current certified copy of such document);

 

    8

    

    

 

(iv)         a
certificate of good standing (or certificate of similar meaning) with respect to each of the Parent Guarantor and the Borrower
issued as of a date not earlier than fifteen (15) days prior to the date hereof by the Secretary of State of the state of formation
of each such Loan Party and certificates of qualification to transact business or other comparable certificates issued as of a
recent date by each Secretary of State (and any state department of taxation, as applicable) of each state in which such Loan
Party is required to be so qualified and where failure to be so qualified could reasonably be expected to have a Material Adverse
Effect;

 

(v)          a
certificate of incumbency signed by the Secretary or Assistant Secretary (or other individual performing similar functions) of
each Loan Party with respect to each of the officers of such Loan Party authorized to execute and deliver this Amendment;

 

(vi)         copies certified by the Secretary or Assistant Secretary (or other individual performing similar functions) of each Loan
Party of (A) the by-laws of such Loan Party, if a corporation, the operating agreement, if a limited liability company, the
partnership agreement, if a limited or general partnership, or other comparable document in the case of any other form of legal
entity (except that, if any such document delivered to the Administrative Agent pursuant to the Existing Credit Agreement has not
been modified or amended since the First Amendment Effective Date and remains in full force and effect, a certificate so stating
may be delivered in lieu of delivery of another copy of such document) and (B) all corporate, partnership, member or other
necessary action taken by such Loan Party to authorize the execution, delivery and performance of the Loan Documents to which it
is a party;

 

(vii)        a
certificate of a Responsible Officer of the Parent Guarantor or the Borrower certifying as to the conditions set forth in Section 6.2.(a),
(b) and (d) of the Amended Credit Agreement on the date hereof and after giving effect to this Amendment and the
transactions contemplated hereby;

 

(viii)       intentionally
omitted;

 

(ix)         all
other fees and other amounts due and payable on or prior to the date hereof, including reimbursement or payment of all reasonable
and documented out-of-pocket expenses (including fees and reasonable and documented out-of-pocket expenses of counsel for the
Administrative Agent) required to be reimbursed or paid by the Borrower in connection with this Amendment; and

 

    9

    

    

 

(x)          a
copy of a duly executed amendment to each of the Five-Year Term Loan Agreement and the Capital One Term Loan Agreement, consistent
with the modifications contemplated hereby.

 

(b)          In the good faith and reasonable judgment of the Administrative Agent:

 

(i)           there
shall not have occurred or become known to the Administrative Agent or any of the Lenders any event, condition, situation or status
since the date of the information contained in the financial and business projections, budgets, pro forma data and forecasts
concerning the Borrower and its Subsidiaries most recently delivered to the Administrative Agent and the Lenders prior to the
date hereof that has had or could reasonably be expected to result in a Material Adverse Effect (which determination shall exclude
any event or circumstance resulting from the COVID-19 pandemic to the extent that such event or circumstance has been disclosed
in writing by the Borrower to Administrative Agent or publicly, or in the public domain);

 

(ii)          no
litigation, action, suit, investigation or other arbitral, administrative or judicial proceeding shall be pending or threatened
in writing which could reasonably be expected to (A) result in a Material Adverse Effect or (B) restrain or enjoin,
impose materially burdensome conditions on, or otherwise materially and adversely affect, the ability of the Borrower or any other
Loan Party to fulfill its obligations under this Amendment and the Loan Documents to which it is a party;

 

(iii)         the
Borrower and the other Loan Parties shall have received all approvals, consents and waivers, and shall have made or given all
necessary filings and notices as shall be required to consummate the transactions contemplated hereby without the occurrence of
any default under, conflict with or violation of (A) any Applicable Law or (B) any material agreement, document or instrument
to which any Loan Party is a party or by which any of them or their respective properties is bound; and

 

(iv)         the
Borrower and each other Loan Party shall have provided (i) all information requested by the Administrative Agent and each Lender
in order to comply with applicable “know your customer” and anti-money laundering rules and regulations, including
without limitation, the Patriot Act and (ii) to the extent the Borrower qualifies as a “legal entity customer” under
the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to the Borrower.

 

The Administrative
Agent shall notify in writing the Borrower and the Lenders of the effectiveness of this Amendment, and such notice shall be conclusive
and binding.

 

    10

    

    

 

3.              Representations
and Warranties. The Borrower and the Parent Guarantor each hereby certifies that: (a) no Default or Event of Default
exists as of the date hereof or would exist immediately, in each case, after giving effect to this Amendment; (b) the representations
and warranties made or deemed made by the Borrower or any other Loan Party in any Loan Document to which such Loan Party is a
party are true and correct in all material respects (unless any such representation and warranty is qualified by materiality,
in which event such representation and warranty is true and correct in all respects) on and as of the date hereof, except to the
extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations
and warranties were true and correct in all material respects (unless any such representation and warranty is qualified by materiality,
in which event such representation and warranty was true and correct in all respects) on and as of such earlier date) and except
for changes in factual circumstances permitted under the Loan Documents; (c) no consent, approval, order or authorization
of, or registration or filing with, any third party (other than any required filing with the SEC, which the Borrower agrees to
file in a timely manner or filings or recordations required in connection with the perfection of any Lien on the Collateral in
favor of the Administrative Agent) is required in connection with the execution, delivery and carrying out of this Amendment or,
if required, has been obtained; and (d) this Amendment has been duly authorized, executed and delivered so that it constitutes
the legal, valid and binding obligation of the Borrower and the Parent Guarantor, enforceable in accordance with its terms, except
as the same may be limited by bankruptcy, insolvency, and other similar laws affecting the rights of creditors generally and the
availability of equitable remedies for the enforcement of certain obligations contained herein and as may be limited by equitable
principles generally. The Borrower and the Parent Guarantor each confirms that the Obligations remain outstanding without defense,
set off, counterclaim, discount or charge of any kind as of the date of this Amendment. Except as expressly provided herein, this
Amendment shall not constitute an amendment, waiver, consent or release with respect to any provision of any Loan Document, a
waiver of any default or Event of Default under any Loan Document, or a waiver or release of any of the Lenders’ or the
Administrative Agent's rights and remedies (all of which are hereby reserved).

 

4.              Intentionally
Omitted.

 

5.              Ratification.
Without in any way establishing a course of dealing by the Administrative Agent or any Lender, the Borrower, the Parent Guarantor
and each Subsidiary Guarantor each hereby reaffirms and confirms its obligations under the Amended Credit Agreement, the Guaranty
(solely with respect to the Parent Guarantor and the Subsidiary Guarantors) and the other Loan Documents to which it is a party
and each and every such Loan Document executed by the undersigned in connection with the Existing Credit Agreement remains in
full force and effect and is hereby reaffirmed, ratified and confirmed. This Amendment is not intended to and shall not constitute
a novation. All references to the Existing Credit Agreement contained in the above-referenced documents shall be a reference to
the Amended Credit Agreement and as the same may from time to time hereafter be amended, restated, supplemented or otherwise modified.

 

    11

    

    

 

6.              GOVERNING
LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
CONTRACTS EXECUTED, AND TO BE FULLY PERFORMED, IN SUCH STATE.

 

7.              Counterparts.
To facilitate execution, this Amendment and any amendments, waivers, consents or supplements may be executed in any number of
counterparts as may be convenient or required. It shall not be necessary that the signature of, or on behalf of, each party, or
that the signature of all persons required to bind any party, appear on each counterpart. All counterparts shall collectively
constitute a single document. It shall not be necessary in making proof of this document to produce or account for more than a
single counterpart containing the respective signatures of, or on behalf of, each of the parties hereto.

 

8.              Headings.
The headings of this Amendment are provided for convenience of reference only and shall not affect its construction or interpretation.

 

9.              Miscellaneous.
This Amendment shall constitute a Loan Document under the Amended Credit Agreement. This Amendment expresses the entire understanding
of the parties with respect to the transactions contemplated hereby. No prior negotiations or discussions shall limit, modify,
or otherwise affect the provisions hereof. Any determination that any provision of this Amendment or any application hereof is
invalid, illegal, or unenforceable in any respect and in any instance shall not affect the validity, legality, or enforceability
of such provision in any other instance, or the validity, legality, or enforceability of any other provisions of this Amendment.
Each of the Borrower and the Parent Guarantor represents and warrants that it has consulted with independent legal counsel of
its selection in connection herewith and is not relying on any representations or warranties of the Administrative Agent or its
counsel in entering into this Amendment.

 

10.            Waiver
of Jury Trial. The terms and provisions of Section 17 of the Existing Credit Agreement are incorporated herein by reference,
mutatis mutandis, as though fully set forth herein, and the parties hereto agree to such terms.

 

REST OF PAGE INTENTIONALLY LEFT BLANK

 

    12

    

    

 

 

 

IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be duly executed and delivered by their authorized officers all as of the day
and year first above written.

 

	 	BORROWER:
	 	 	 
	 	RLJ LODGING TRUST, L.P.,
	 	a Delaware limited partnership
	 	 	 
	 	 	 
	 	By:	RLJ Lodging Trust,
	 	 	a Maryland real estate investment trust,
	 	 	its sole general partner
	 	 	 
	 	 	 
	 	 	By:	 /s/ Leslie D. Hale
	 	 	Name:	Leslie D. Hale
	 	 	Title: 	President and Chief Executive Officer

 

	 	PARENT GUARANTOR:
	 	 	 	 
	 	RLJ LODGING TRUST,
	 	a Maryland real estate investment trust
	 	 	 	 
	 	 	 	 
	 	By:	  /s/ Leslie D. Hale
	 	 	Name:	Leslie D. Hale
	 	 	Title: 	President and Chief Executive Officer

 

	 	SUBSIDIARY GUARANTORS:
	 	 	 	 
	 	RLJ III – C BUCKHEAD, INC.,
	 	a Texas corporation
	 	 	 	 
	 	 	 	 
	 	By:	 /s/ Leslie D. Hale
	 	 	Name:	 Leslie D. Hale
	 	 	Title:	 President and Treasurer

 

	 	RLJ III – EM WEST PALM BEACH, INC.,
	 	a Texas corporation
	 	 	 	 
	 	 	 	 
	 	By:	 /s/ Leslie D. Hale
	 	 	Name:	 Leslie D. Hale
	 	 	Title:	 President and Treasurer

 

Signature Page to Second Amendment to Third Amended and Restated Credit Agreement

 

     

     

    

 

	 	RLJ III – MH DENVER AIRPORT, INC.,
	 	a Delaware corporation
	 	 	 	 
	 	 	 	 
	 	By:	 /s/ Leslie D. Hale
	 	 	Name:	 Leslie D. Hale
	 	 	Title:	 President and Treasurer

 

	 	EACH OF THE SUBSIDIARY GUARANTORS

LISTED ON ANNEX I HERETO
	 	 	 
	 	By: RLJ LODGING TRUST, L.P.,
	 	a Delaware limited partnership, the direct or indirect holder of all controlling interests in such Subsidiary Guarantor
	 	 	 
	 	 	 
	 	By: RLJ LODGING TRUST, 
	 	a Maryland real estate investment trust, its sole general partner
	 	 	 
	 	 	 
	 	By:	 /s/ Leslie D. Hale
	 	 	Name:	Leslie D. Hale
	 	 	Title: 	President and Chief Executive Officer

 

[Signatures
Continued on Next Page]

 

Signature Page to Second Amendment to Third Amended and Restated Credit Agreement

 

     

     

    

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, 
	 	as Administrative Agent, a Lender, a Swingline Lender and an Issuing Bank
	 	 
	 	 
	 	By:	  /s/ Mark F. Monahan
	 	Name: Mark F. Monahan
	 	Title: Senior Vice President

 

Signature Page to Second Amendment to Third Amended and Restated Credit Agreement

 

     

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION,
	 	as a Syndication Agent, as a Documentation Agent, and as a Lender
	 	 
	 	By:	 /s/ Lori Y. Jensen
	 	 	Name: Lori Y. Jensen
	 	 	Title: Senior Vice President

 

Signature Page to Second Amendment to Third Amended and Restated Credit Agreement

 

     

     

    

 

	 	PNC BANK, NATIONAL ASSOCIATION,
	 	as Lender, as Syndication Agent with respect to Tranche A-2 Term Loan Lender and as a Documentation Agent with respect to the Revolving
Credit Facility
	 	 
	 	 
	 	By:	 /s/ William R. Lynch III
	 	 	Name: William R. Lynch III
	 	 	Title: Senior Vice President

 

Signature Page to Second Amendment to Third Amended and Restated Credit Agreement

 

     

     

    

 

	 	BANK OF AMERICA, N.A.,
	 	as a Lender and as a Syndication Agent
	 	 
	 	 
	 	By:	 /s/ Suzanne E. Pickett
	 	 	Name: Suzanne E. Pickett
	 	 	Title: Senior Vice President

 

Signature Page to Second Amendment to Third Amended and Restated Credit Agreement

 

     

     

    

 

	 	BBVA USA,
	 	as a Lender
	 	 
	 	 
	 	By:	 /s/ Don Byerly
	 	 	Name: Don Byerly
	 	 	Title: Executive Vice President

 

Signature Page to Second Amendment to Third Amended and Restated Credit Agreement

 

     

     

    

 

	 	TD BANK, N.A.,
	 	as a Lender and as Documentation Agent
	 	 
	 	 
	 	By:	 /s/ John Howell
	 	 	Name: John Howell
	 	 	Title: Vice President

 

Signature Page to Second Amendment to Third Amended and Restated Credit Agreement

  

     

     

    

 

	 	CAPITAL ONE, NATIONAL ASSOCIATION,
	 	as a Revolving Credit Lender, as a Tranche A-1 Term Loan Lender and as a Tranche A-2 Term Loan Lender
	 	 
	 	 
	 	By:	 /s/ Jessica W. Phillips
	 	 	Name: Jessica W. Phillips
	 	 	Title: Authorized Signatory

 

Signature Page to Second Amendment to Third Amended and Restated Credit Agreement

 

     

     

    

 

	 	REGIONS BANK,
	 	as a Syndication Agent and as a Lender
	 	 
	 	 
	 	By:	 /s/ Ghi S. Gavin
	 	 	Name: Ghi S. Gavin
	 	 	Title: Senior Vice President

 

Signature Page to Second Amendment to Third Amended and Restated Credit Agreement

 

     

     

    

 

 

	 	 	SUMITOMO MITSUI BANKING CORPORATION,
 as a Lender
	 	 	 
	 	 	 
	 	 	By:	 /s/ Katie Lee
	 	 	 	Name: Katie Lee
	 	 	 	Title: Director

 

Signature Page to Second Amendment to Third Amended and Restated
Credit Agreement

 

     

     

    

 

	 	 	BARCLAYS BANK PLC,
 as a Lender
	 	 	 
	 	 	 
	 	 	By:	/s/ Craig J. Malloy
	 	 	 	Name: Craig J. Malloy
	 	 	 	Title: Director

 

Signature Page to Second Amendment to Third Amended and Restated
Credit Agreement

 

     

     

    

 

	 	 	TRUIST BANK, formerly known as BRANCH

 BANKING AND TRUST COMPANY,
 as a Lender
	 	 	 
	 	 	 
	 	 	By:	/s/ Ryan Almond
	 	 	 	Name: Ryan Almond
	 	 	 	Title: Director

 

Signature Page to Second Amendment to Third Amended and Restated
Credit Agreement

 

     

     

    

 

	 	 	THE BANK OF NOVA SCOTIA,
 as a Lender
	 	 	 
	 	 	 
	 	 	By:	/s/ Ajit Goswami
	 	 	 	Name: Ajit Goswami
	 	 	 	Title: Managing Director & Industry Head

 

Signature Page to Second Amendment to Third Amended and Restated
Credit Agreement

 

     

     

    

 

	 	 	ROYAL BANK OF CANADA,
 as a Lender
	 	 	 
	 	 	 
	 	 	By:	 /s/ Brian Gross
	 	 	 	Name: Brian Gross
	 	 	 	Title: Authorized Signatory

 

Signature Page to Second Amendment to Third Amended and Restated
Credit Agreement

 

     

     

    

 

	 	 	BMO HARRIS BANK N.A.,
 as a Lender
	 	 	 
	 	 	 
	 	 	By:	/s/ Amy K. Dumser
	 	 	 	Name: Amy K. Dumser
	 	 	 	Title: Director

 

Signature Page to Second Amendment to Third Amended and Restated
Credit Agreement 

 

     

     

    

 

	 	 	RAYMOND JAMES BANK, N.A.,
 as a Lender
	 	 	 
	 	 	 
	 	 	By:	/s/ Matt Stein
	 	 	 	Name: Matt Stein
	 	 	 	Title: Senior Vice President

 

Signature Page to Second Amendment to Third Amended and Restated
Credit Agreement

 

     

     

    

 

ANNEX
I

 

	
         

         
	
         

        Subsidiary
        GuarantorS

         

	1.	RLJ C Charleston HD, LLC
	2.	RLJ C HOUSTON HUMBLE, LP
	3.	RLJ C NY Upper Eastside, LLC
	4.	RLJ C PORTLAND DT, LLC
	5.	RLJ C WAIKIKI, LLC
	6.	RLJ CABANA MIAMI BEACH, LLC
	7.	RLJ DBT KEY WEST, LLC
	8.	RLJ EM IRVINE, LP
	9.	RLJ EM Waltham, LLC
	10.	RLJ HGN Emeryville, LP
	11.	RLJ HP Fremont, LP
	12.	RLJ HY ATLANTA MIDTOWN, LLC
	13.	RLJ HyH San Diego, LP
	14.	RLJ HyH San Jose, LP
	15.	RLJ HyH San Ramon, LP
	16.	RLJ HyH Woodlands, LP
	17.	RLJ II – C HAMMOND, LLC
	18.	RLJ II – C MIDWAY, LLC
	19.	RLJ II – C SUGARLAND, LP
	20.	RLJ II – F CHERRY CREEK, LLC
	21.	RLJ II – F HAMMOND, LLC
	22.	RLJ II – F KEY WEST, LLC
	23.	RLJ II – F MIDWAY, LLC
	24.	RLJ II – HA GARDEN CITY, LLC
	25.	RLJ II – HA MIDWAY, LLC
	26.	RLJ II – HG MIDWAY, LLC
	27.	RLJ II - HOLX Midway, LLC
	28.	RLJ II – INDY CAPITOL HOTELS, LLC
	29.	RLJ II – MH DENVER S, LLC
	30.	RLJ II – MH MIDWAY, LLC
	31.	RLJ II – R FISHERS, LLC
	32.	RLJ II – R HAMMOND, LLC
	33.	RLJ II – R HOUSTON GALLERIA, LP
	34.	RLJ II – R LOUISVILLE DT KY, LLC

 

    Annex I-1

     

    

 

	35.	RLJ II – R MERRILLVILLE, LLC
	36.	RLJ II – R WARRENVILLE, LLC
	37.	RLJ II – RH BOULDER, LLC
	38.	RLJ II – RH PLANTATION, LLC
	39.	RLJ II – S WESTMINSTER, LLC
	40.	RLJ II – SLE MIDWAY, LLC
	41.	RLJ III – DBT Metropolitan Manhattan, LP
	42.	RLJ III – EM Fort Myers, LLC
	43.	RLJ III – EM Tampa DT, LLC
	44.	RLJ III – HG New Orleans Convention Center, LLC
	45.	RLJ III – HGN Hollywood, LP
	46.	RLJ III – HGN Pittsburgh, LP
	47.	RLJ III – R National Harbor, LLC
	48.	RLJ III – St. Charles Ave Hotel, LLC
	49.	RLJ R Atlanta Midtown, LLC
	50.	RLJ R HOUSTON HUMBLE, LP
	51.	RLJ S Hillsboro, LLC
	52.	RLJ C San francisco, lp
	53.	rlj hp washington dc, llc
	54.	rlj s houston humble, lp
	55.	RLJ C HOUSTON HUMBLE GENERAL PARTNER, LLC
	56.	RLJ EM IRVINE GENERAL PARTNER, LLC
	57.	RLJ HP FREMONT GENERAL PARTNER, LLC
	58.	RLJ HYH SAN DIEGO GENERAL PARTNER, LLC
	59.	RLJ HYH SAN JOSE GENERAL PARTNER, LLC
	60.	RLJ HYH SAN RAMON GENERAL PARTNER, LLC
	61.	RLJ HYH WOODLANDS GENERAL PARTNER, LLC
	62.	RLJ II – C SUGARLAND GENERAL PARTNER, LLC
	63.	RLJ II SENIOR MEZZANINE BORROWER, LLC
	64.	RLJ II JUNIOR MEZZANINE BORROWER, LLC
	65.	RLJ II – R HOUSTON GALLERIA GENERAL PARTNER, LLC
	66.	RLJ III – C BUCKHEAD PARENT, LLC
	67.	RLJ III – EM WEST PALM BEACH PARENT, LLC
	68.	RLJ III – HGN HOLLYWOOD GENERAL PARTNER, LLC
	69.	RLJ R HOUSTON HUMBLE GENERAL PARTNER, LLC
	70.	RLJ C SAN FRANCISCO GENERAL PARTNER, LLC
	71.	RLJ S HOUSTON HUMBLE GENERAL PARTNER, LLC
	72.	RLJ III – DBT MET MEZZ BORROWER, LP
	73.	RLJ III – DBT METROPOLITAN MANHATTAN GP, LLC
	74.	RLJ III – DBT MET MEZZ BORROWER GP, LLC

 

    Annex I-2

     

    

 

	75.	DBT MET HOTEL VENTURE, LP
	76.	DBT MET HOTEL VENTURE GP, LLC
	77.	RLJ III – DBT MET HOTEL PARTNER, LLC
	78.	RLJ HGN EMERYVILLE GENERAL PARTNER, LLC
	79.	RLJ III – HGN PITTSBURGH GENERAL PARTNER, LLC
	80.	RLJ II – CR AUSTIN DT, LP
	81.	RLJ II – CR AUSTIN DT GENERAL PARTNER, LLC
	82.	RLJ III – HS WASHINGTON DC, LLC
	83.	RLJ R BETHESDA, LLC
	84.	RLJ II – MH LOUISVILLE DT, LLC
	85.	RLJ III – MH DENVER AIRPORT PARENT, LLC

 

    Annex I-3

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