Document:

Exhibit 10.2

 

Execution Copy

 

 

FIRST AMENDMENT TO ASSET PURCHASE AGREEMENT

 

FIRST AMENDMENT TO ASSET PURCHASE AGREEMENT (this “Amendment”),
dated as of September 3, 2004, by and between La Quinta Corporation, a Delaware
corporation (“Buyer”), and each of the other signatories to this
Amendment, each of which is a wholly-owned direct or indirect subsidiary of The
Marcus Corporation.  Capitalized terms
used herein without definition shall have the meanings ascribed to such terms
in the Original Asset Purchase Agreement (as defined below).

 

WHEREAS, Buyer, the Marcus
Entities and, for limited specified purposes, The Marcus Corporation, have
entered into that certain Asset Purchase Agreement, dated as of July 14, 2004
(the “Original Asset Purchase Agreement” and, as amended by this
Amendment, the “Asset Purchase Agreement”); and

 

WHEREAS, the parties hereto
desire to amend certain provisions of the Original Asset Purchase Agreement,
pursuant to Section 17.5 thereof, for certain purposes as fully set
forth herein.

 

NOW THEREFORE, in
consideration of the representations, warranties, covenants and agreements
contained in this Amendment and the Original Asset Purchase Agreement, the
parties hereby agree as follows:

 

1.             Amendments
of Schedules.  The Schedules to the
Asset Purchase Agreement are hereby amended and restated in the manner
indicated by the Schedules attached hereto, which Schedules have been marked to
show the modifications to the Schedules attached to the Original Asset Purchase Agreement.

 

2.             Real Property Fee Owners. 
Since the date of the Original Asset Purchase Agreement, the Marcus
Entities have determined that some of the real estate underlying several of the
Baymont Hotels was owned by Affiliates of the Marcus Entities and other such
real estate was titled in the name of partnerships that have been dissolved
prior to the date hereof, including Marcus-Anderson Partnership.  For all purposes of the Asset
Purchase Agreement, including, without limitation, the definitions of
“Purchased Assets,” and “Owned Real Property” and the representations,
warranties, covenants and agreements of the Marcus Entities contained in the
Asset Purchase Agreement, the entities listed as owning the Properties as set
forth on Schedule 1.1(a)(i) attached to this Amendment shall be treated
as having owned the Properties on July 14, 2004 and Schedule 1.1(a)(i)
attached to this Amendment shall be treated as having been in full force and
effect on July 14, 2004.

 

3.             Marcus
Entities.  The parties hereto
acknowledge that (a) Marcus-Anderson
Partnership erroneously executed the Original Asset Purchase Agreement and (b)
each of Woodfield Refreshments of Colorado, Inc., Woodfield Refreshments
of Ohio, Inc. and Woodfield Refreshments, Inc., each of which owns the
alcoholic beverage inventory relating to

 

 

liquor operations and is
the licensee with respect to liquor operations at certain Woodfield Hotels,
inadvertently failed to execute the Original Asset Purchase Agreement.  By executing this Amendment, each of Woodfield Refreshments of Colorado,
Inc., Woodfield Refreshments of Ohio, Inc. and Woodfield Refreshments, Inc.
hereby agrees to be treated as a party to the Asset Purchase Agreement and the
parties hereto agree that such entities shall be included in the definition of
“Marcus Entity” for all purposes in the Asset Purchase Agreement, including,
without limitation, the representations, warranties, covenants and agreements
of the Marcus Entities contained in the Asset Purchase Agreement, as if each
such entity had executed the Original
Asset Purchase Agreement.  The
definition of the term “Marcus Entities” in the Asset Purchase Agreement is
hereby further amended and restated in its entirety such that it excludes
Marcus-Anderson Partnership and includes all of and only the signatories to
this Amendment.

 

4.             Alcoholic
Beverage Inventory.  Prior to the
date hereof, Baymont Inns Hospitality, LLC conveyed (a) the then-existing
alcoholic beverage inventory relating to liquor operations at the Woodfield
Hotel located in Greenwood Village, Colorado to Woodfield Refreshments of
Colorado, Inc., (b) the then-existing alcoholic beverage inventory relating to
liquor operations at the Woodfield Hotel located in Sharonville, Ohio to
Woodfield Refreshments of Ohio, Inc. and (c) the then-existing alcoholic
beverage inventory relating to liquor operations at the Woodfield Hotels
located in Appleton, Wisconsin, Glendale, Wisconsin and Madison, Wisconsin to
Woodfield Refreshments, Inc.  The
parties hereby agree that, notwithstanding any provisions of the Asset Purchase
Agreement to the contrary, the then-existing alcoholic beverage inventory
relating to liquor operations at the Woodfield Hotels, other than the Woodfield
Hotels located in Greenwood Village, Colorado and San Antonio, Texas, will be
transferred by the applicable Marcus Entity to Buyer, or its designee pursuant
to Section 17.2(a) of the Asset Purchase Agreement, after the Closing
Date pursuant to separate Bills of Sale to be executed by such entities at such
time that Buyer, or its designee, obtains the appropriate license with respect
to the sale of such then-existing alcoholic beverage inventory.  Subject only to the timing of the transfers
contemplated by the preceding sentence, the then-existing alcoholic beverage
inventory relating to liquor operations at all of the Woodfield Hotels shall be
included within the definitions of Purchased Assets and Inventory for all
purposes of the Asset Purchase Agreement.

 

5.             Mark Antell Partnership License Agreement.

 

The parties hereby agree that notwithstanding any
provisions of the Asset Purchase Agreement to the contrary, including, without
limitation, Section 14.16 and Section 3.3(a)(ii), the License
Agreement relating to the Property held by the Mark Antell Partnership shall be
in the form dated as of September 2, 2004.

 

6.             Accounts
Receivable.

 

(a)           Section
1.1 of the Asset Purchase Agreement is hereby amended by adding the
following Section 1.1(r):

 

“1.1(r)     Hotel Accounts Receivable.  The Marcus Entities’ and the Selling Joint
Ventures’ rights, title and interest in and to all Accounts Receivable (the “Purchased
Accounts Receivable”) as of the Closing Date, which exclude any 

 

2

 

Accounts Receivable relating solely to the franchising
operations of the Baymont Business.”

 

(b)           Section
1.2(k) of the Asset Purchase Agreement is hereby amended and restated by
deleting it in its entirety and substituting the following:

 

“1.2(k)    Franchise Accounts Receivable.  The Marcus Entities’ and Selling Joint
Ventures’ rights, title and interest in and to all Accounts Receivable other
than the Purchased Accounts Receivable.”

 

(c)           Section
3.1 of the Asset Purchase Agreement is hereby amended by adding the
following immediately prior to the semicolon in the first sentence of such
Section: “, plus eighty-five percent (85%) of the aggregate dollar
amount of the Purchased Accounts Receivable.”

 

7.             Bills of Sale; Assignment and Assumption
Agreements.

 

(a)           The
following shall be added to the Asset Purchase Agreement as Section 2.3:

 

“2.3         Effect
of Other Documents on Allocation of Liabilities.  Since the date hereof, the parties hereto have sent certain
documents to third parties describing their relative responsibilities for
amounts owed to such third parties.  The
parties acknowledge and agree that such descriptions were intended to be
informative and that such descriptions shall not have any effect upon either
the Assumed Liabilities or Excluded Liabilities or any other provision of this
Agreement.”

 

(b)           The
parties hereby agree that the bills of sale and assignment and assumption
agreements relating to the transfer of rights, title and interest in and to the
Owned Personal Property and Inventory, Assigned Contracts, Assigned Licenses
and Permits, general intangibles described in Section 1.1(q) of the Purchase
Agreement and any other Purchased Assets (collectively, the “Escrow Property
Purchased Assets”) located at or relating solely to the operations of the
Baymont Hotels located in Auburn, Massachusetts, Cleveland, Ohio and Bloomington,
Minnesota and the Woodfield Hotel located in Sharonville, Ohio (the “Escrowed
Properties”), shall exclude the Escrow Property Purchased Assets unless and
until such time that title to such Escrowed Properties are conveyed to Buyer
pursuant to the terms of the Purchase Agreement.

 

8.             Joint
Ventures.  The parties hereby agree
that, effective as of the Closing, the management agreement between each of
Baymont Inns, Inc. and each Selling Joint Venture shall be terminated pursuant
to separate Termination of Management Agreements related to each such
management agreement for the consideration provided for in the Original
Purchase Agreement rather than being transferred to Buyer as provided for in
the Original Purchase Agreement.

 

9.             Employee
Matters.

 

(a)           The
parties hereby agree that notwithstanding any provisions of the Asset Purchase
Agreement to the contrary, including, without limitation, Section 6.1(a),
Buyer

 

3

 

will assume the
obligations for paying all of the severance payments described on Appendix A
to the Marcus employees listed on Appendix A (the “Severance Payments”),
and Buyer shall receive a credit from the Marcus Entities for sixty percent
(60%) of the amount of such Severance Payments against the Purchase Price at
the time of Closing in accordance with the second sentence of Section
12.3(b) of the Asset Purchase Agreement, except for the Severance Payment
to the single employee so-designated on Appendix A (for which Buyer
shall receive a credit for fifty percent (50%) of the amount of the applicable
Severance Payment).  Buyer shall make
the actual severance payments to such employees on the dates or after the
periods of temporary employment indicated on Appendix A.  In the event that any of the employees
listed on Appendix A do not qualify for their severance payment pursuant
to the terms of their respective employment letter agreements as initially
entered into, then Buyer shall reimburse the Marcus Entities for the amount of
the credit Buyer received at Closing that was attributable to the Severance
Payment to which such employee would otherwise have been entitled.  Buyer shall obtain a release from each
employee set forth on Appendix A in accordance with the letter
agreements entered into with each such employee, respectively.  Buyer shall promptly reimburse the Marcus
Entities for fifty percent (50%) of the out-of-pocket fees and expenses
associated with providing outplacement services to the employees set forth on Appendix A.

 

(b)           The
parties hereby agree that notwithstanding any provisions of the Asset Purchase
Agreement to the contrary, including, without limitation, Section 6.1(c),
Buyer will not carry-over and recognize any unused vacation for the Affected
Employees set forth on Appendix A, and any credit received by Buyer
pursuant to Section 6.1(c) of the Asset Purchase Agreement shall not
include any amounts attributable to such Affected Employees.

 

(c)           The Marcus Entities hereby agree that the Affected Employees who were
located at Marcus’ corporate headquarters in Milwaukee, Wisconsin immediately
prior to the Closing shall be entitled to continue to use such location from
and after the Closing through and including September 13, 2004, solely for
purposes of such Affected Employees’ employment with Buyer and the transition
of Personal Property and Marcus Records and Files from the Marcus Entities to
Buyer as and to the extent contemplated by the Asset Purchase Agreement.  Such access will generally be consistent
with their prior use thereof while employed by the Marcus Entities, subject to
the Marcus Entities and their Affiliates taking reasonable steps to address
their reasonable confidentiality and similar concerns.

 

10.           Subdivision
Properties.  The Marcus Entities
acknowledge that Buyer has not approved the boundaries of any Buyer’s
Subdivision Parcel or any Retained Subdivision Parcel, and that the attachment
to each applicable lease of a draft subdivision plan or other drawing or
description of the real property that is subject to such lease is preliminary
only, and shall not operate to estop or otherwise limit Buyer’s right to
comment on and approve the boundaries of Buyer’s Subdivision Parcel and
Retained Subdivision Parcel pursuant to Section 7.14(a).

 

4

 

11.           Gift Certificates.

 

(a)           Section
12.3(a)(vi) is hereby amended by deleting clause (iii) contained therein in
its entirety and the word “and” preceding such clause (iii).

 

(b)           The following shall be added to the Asset
Purchase Agreement as Section 14.17:

 

“14.17     Gift Certificates.  The Marcus Entities shall reimburse Buyer
within twenty (20) days after Buyer delivers to the Marcus Entities evidence,
including the applicable guest folio and physical coupon or gift certificate,
that any of the following items that are outstanding as of Closing have been
presented to and accepted for use by Buyer in accordance with the terms
thereof:  physical coupons related to
the “110% Satisfaction” program, physical gift certificates, or physical
coupons, physical sweepstakes awards given out pre-Closing, or similar physical
items issued for any exchange and use of any facilities at the Properties,
including, without limitation, rooms, and any commitments made for the free or
discounted use of any facilities at the Properties, including, without
limitation, any physical coupons that entitle such persons to discounts or
credits at the Properties excluding, however, any discounted rates associated
with nationally or regionally negotiated contracts (all of such physical items
outstanding as of Closing are collectively referred to herein as “Marcus
Coupons”).  Such reimbursements
shall be in the face amount of the applicable physical Marcus Coupon accepted
by Buyer if there is a face amount or, if there is no face amount, with respect
to free hotel rooms, if the applicable Property is at or above ninety percent
(90%) occupancy on the night of the day in which the Marcus Coupon is redeemed,
such reimbursement shall be equal to ninety percent (90%) of RevPAR (as calculated
by Buyer in connection with its public disclosure of RevPAR), and otherwise
such reimbursement shall be equal to fifty percent (50%) of RevPAR (as
calculated by Buyer in connection with its public disclosure of RevPAR), but
shall not be less than $20.00.  The
Marcus Entities shall provide the reimbursement provided for by this Section
14.17 for so long as any such Marcus Coupons were valid when redeemed.  Buyer shall accept and honor any Marcus
Coupons presented for use on or before September 30, 2005, provided that
the Marcus Entities have reimbursed Buyer in accordance with this Section
14.17 in all material respects.”

 

12.           The following shall be added to the Asset
Purchase Agreement as Section 14.18:

 

“14.18     Post-Closing Title Issues.  Buyer understands that the Escrow Company
has agreed to issue title insurance policies pursuant to Section 8.10 of
the Agreement without taking exception for certain mortgages or deeds of trust,
UCC financing statements or other documents recorded in connection with
financings of the Marcus Entities or their Affiliates, mechanics or suppliers
liens, owner’s association assessments and past due real estate taxes for any
fiscal period preceding the fiscal period in which the Closing occurs, and
certain other matters indicated in the marked-up title insurance commitments,
notwithstanding that

 

5

 

such items remain of record as encumbrances on certain
of the Properties (such encumbrances are, collectively, “Existing Liens”).  Notwithstanding the issuance of such title
insurance policies, the Marcus Entities agree to use their reasonable best
efforts following the Closing to promptly obtain and record, within a
reasonable time after Closing, discharges of all Existing Liens and to, from
time to time, provide evidence thereof to Buyer.”

 

13.           The following shall be added to the Asset
Purchase Agreement as Section 14.19:

 

“14.19     Renovations and Repairs.  The Marcus Entities and Buyer acknowledge
that certain of the Properties suffered damage caused by Hurricane
Charley.  Notwithstanding anything to
the contrary contained in the Agreement including, without limitation, Section
10.1, the parties agree that the Marcus Entities shall diligently complete,
or cause to be completed, all the repairs described on Appendix B
following the Closing, Lien free and in a good and workmanlike manner and
consistent in all material respects with the contracts and plans and
specifications therefor previously submitted to and approved by Buyer.”

 

14.           The following shall be added to the Asset
Purchase Agreement as Section 14.20:

 

“14.20     Missing Title/Survey Information.  The Marcus Entities acknowledge that (a)
Buyer has not yet received from the Escrow Company copies of certain of the
documents shown as exceptions to title to certain Properties, (b) the draft
surveys received by Buyer do not show a number of the easements and other
exceptions to title and certain easements and other matters benefitting certain
of the Properties, all as noted in the table in Appendix C, and (c) the
surveys provided are in preliminary or draft form and not in final form
(collectively, the “Missing Title/Survey Information”).  Following the Closing, the Marcus Entities
shall continue to cooperate with the Escrow Company and the survey companies
retained by the Marcus Entities to obtain and cause to be added to the surveys
all of the Missing Title/Survey Information and to produce final surveys.  Notwithstanding anything to the contrary
contained in the Agreement, Buyer’s right to bring claims against the Marcus
Entities for the inaccuracy or breach of the representations and warranties of
the Marcus Entities set forth in Section 4.12(d) of the Agreement as a
result of any matter disclosed by any Missing Title/Survey Information or any
difference between the draft and final forms of the surveys shall be without
regard to any knowledge qualifiers or limitations set forth in such Section
4.12(d), provided, that any such claims are made by Buyer within
fifteen (15) days after the receipt of the applicable Missing Title/Survey
Information, and in no event later than seventy-five (75) days after the
Closing Date.”

 

The parties hereby agree that Buyer’s execution of the
Asset Purchase Agreement despite the absence of the Missing Title/Survey
Information shall in no way expand, prejudice or otherwise limit Buyer’s rights
to indemnification pursuant to Article 11 of the Asset Purchase
Agreement with respect to any inaccuracy or

 

6

 

breach of the representations and warranties of the
Marcus Entities set forth in Section 4.12(d) of the Asset Purchase
Agreement.

 

15.           The following shall be added to the Asset
Purchase Agreement as Section 17.7(d):

 

“17.7(d)             Personal Property
Sales Tax.  If the Marcus Entities
and Buyer determine that sales tax is not payable in connection with the
transfer to Buyer of any of the Owned Personal Property, but following the
Closing a State successfully challenges such determination and requires the
payment of any such sales taxes, then the Marcus Entities and Buyer shall each
bear 50% of all such sales taxes and any penalties and interest assessed with
respect thereto and shall promptly pay such amounts to the appropriate taxing
authority or, if paid by the other party, shall promptly reimburse such other
party.  The Marcus Entities and Buyer
shall promptly inform the other upon receiving notice of any such challenge and
shall reasonably cooperate in connection with any defense to such challenge,
with each party bearing its own legal costs and expenses except as they may
otherwise agree.”

 

16.           Retained
Real Property.  The following shall
be added to the Asset Purchase Agreement as Section 14.21:

 

“14.21                Restrictive
Covenants.  The Marcus Entitles
shall promptly execute and deliver to Buyer a recordable restrictive covenant
with respect to each parcel of Retained Real Property that is located within 1⁄4
(one-quarter) mile of any Use-Restricted Property as of the date hereof as
provided in Section 7.15 to the extent that such a recordable
restrictive covenant was not executed and delivered at Closing, and such
obligation to execute and deliver a recordable restrictive covenant shall
survive the Closing until the fifteenth (15th) anniversary of the
Closing Date.”

 

17.           Estoppel
Certificates.  The following shall
be added to the Asset Purchase Agreement as Section 14.22:

 

“14.22     Estoppel Certificates.  The Marcus Entities shall provide duly
executed estoppel certificates to Buyer with respect to their interests in all
reciprocal easements, shared use agreements and similar agreements affecting
any Property and under which a Marcus Entity and/or any Affiliate is both the
beneficiary and obligor, to the extent such duly executed estoppel certificates
were not provided to Buyer at Closing.”

 

18.           Franchise Fee Rebate.  The
following shall be added to the Asset Purchase Agreement as Section 14.23:

 

“14.23     Franchise Fee Rebate.  Promptly after they receive a detailed
invoice regarding the determination of the franchise fee rebate relating to the
Baymont Business franchising operations during 2004 (the “2004 Franchise Fee
Rebate”), the Marcus Entities shall pay to Buyer an amount equal to the
Marcus Entities’ pro rata share of the 2004 Franchise Fee Rebate based on the
number of days

 

7

 

during 2004 prior to the Closing
Date; provided, however, that the Marcus Entities shall not be obligated to
make any portion of such payment attributable to a franchisee that owes any
amounts to any of the Marcus Entities or any of their Affiliates.”

 

19.           Escrowed
Properties.

 

(a)           Buyer
and the Marcus Entities acknowledge that each of the Escrowed Properties cannot
as of the date hereof be conveyed to Buyer as a result of the deficiencies
(each a “Conveyance Deficiency”) summarized on Appendix D
attached hereto.  Accordingly, pending
the reasonable cure of the Conveyance Deficiency, certain of the Marcus
Entities and Affiliates of Buyer have entered into leases or management
agreements as of the date hereof with respect to each of the Escrowed
Properties and the amount set forth in Exhibit D to the Asset Purchase
Agreement with respect to each of the Escrowed Properties has been placed in
escrow with the Escrow Company.  Buyer
and the Marcus Entities further agree as follows with respect to each of the
Escrowed Properties:

 

(1)           The Marcus Entities shall promptly commence, and shall use reasonable
best efforts to pursue to completion at their sole cost and expense, the cure
of the applicable Conveyance Deficiency for each Escrowed Property to the reasonable satisfaction of Buyer and
the Escrow Company.  Buyer agrees to
reasonably cooperate, at no cost to Buyer, with the Marcus Entities in curing
such Conveyance Deficiency.

 

(2)           The provisions of Section 7.14(d), (e) and (f) of
the Original Asset Purchase Agreement shall apply to the Other Escrowed Properties, mutatis mutandis
to require the cure to the reasonable satisfaction of Buyer and the Escrow
Company of the applicable Conveyance Deficiency (i.e., in lieu of requiring the
receipt of all approvals from applicable Government Entities of the land
division for the Subdivision Properties) and the reference to Exhibit G in Section
7.14(e)  shall in the case of the Escrowed Properties be deemed to
refer to the applicable lease or management agreement entered into with respect
to an Escrowed Property.

 

(b)           The
parties hereto agree that to the extent a Purchased Asset is not assigned,
transferred or otherwise conveyed to Buyer or its designee or nominee in the
future and the respective escrowed portion of the Purchase Price attributable
to such Purchased Asset is remitted to Buyer or such designee or nominee, the
difference (if any) between the Exhibit D amount with respect to such
Purchased Asset that was previously escrowed and the Purchase Price allocated
to such Purchased Asset pursuant to Section 3.5 of the Asset Purchase
Agreement shall adjust the Purchase Price allocated to intangible assets under Section
3.5 of the Asset Purchase Agreement.

 

20.           Post-Closing
Adjustments.  Notwithstanding
anything to the contrary in the Asset Purchase Agreement, the items that are
designated as being subject to post-closing adjustments on the Closing
Statement for the transactions contemplated by the Asset Purchase Agreement

 

8

 

shall be adjusted in
accordance with the procedures set forth in Section 12.3(c) on a
mutually agreed upon date or dates after Closing.

 

21.           Other
Terms and Conditions.  Except as
specifically modified herein, all other terms and conditions of the Asset
Purchase Agreement shall remain in full force and effect.

 

22.           Headings.  The headings in this Agreement are inserted
for convenience only and shall not constitute a part hereof.

 

23.           Law
Governing Agreement.  This Agreement
shall be construed and interpreted according to the internal Laws of the State
of Wisconsin, excluding any choice of Law rules that may direct the application
of the Laws of another jurisdiction.

 

[Signature page to follow]

 

9

 

IN WITNESS WHEREOF, the parties have caused this
Amendment to be signed by their respective officers thereunto duly authorized,
all as of the date and year first written above.

 

 

	
  THE MARCUS ENTITIES:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  BAYMONT INNS, INC.

  	
  WOODFIELD SUITES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  
	
   

  	
  Name:

  	
  Steven S. Bartelt

  	
   

  	
  Name:

  	
  Steven S. Bartelt

  
	
   

  	
  Title:

  	
  Vice President

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
  MARCUS CONSID, LLC

  	
  MARCUS NON, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  
	
   

  	
  Name:

  	
  Steven S. Bartelt

  	
   

  	
  Name:

  	
  Steven S. Bartelt

  
	
   

  	
  Title:

  	
  Vice President

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
  MARCUS FL, LLC

  	
  BAYMONT FRANCHISES

  INTERNATIONAL, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  
	
   

  	
  Name:

  	
  Steven S. Bartelt

  	
   

  	
  Name:

  	
  Steven S. Bartelt

  
	
   

  	
  Title:

  	
  Vice President

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
  BAYMONT PARTNERS, LLC

  	
  WOODFIELD SUITES HOSPITALITY

  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  
	
   

  	
  Name:

  	
  Steven S. Bartelt

  	
   

  	
  Name:

  	
  Steven S. Bartelt

  
	
   

  	
  Title:

  	
  Vice President

  	
   

  	
  Title:

  	
  Vice President

  
										

 

10

 

	
  WOODFIELD SUITES FRANCHISES

  INTERNATIONAL, INC.

  	
  BAYMONT INNS HOSPITALITY LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  
	
   

  	
  Name:

  	
  Steven S. Bartelt

  	
   

  	
  Name:

  	
  Steven S. Bartelt

  
	
   

  	
  Title:

  	
  Vice President

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
  WOODFIELD REFRESHMENTS OF

  COLORADO, INC.

  	
  WOODFIELD REFRESHMENTS OF

  OHIO, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  
	
   

  	
  Name:

  	
  Steven S. Bartelt

  	
   

  	
  Name:

  	
  Steven S. Bartelt

  
	
   

  	
  Title:

  	
  Vice President

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
  WOODFIELD REFRESHMENTS, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Steven S. Bartelt

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Steven S. Bartelt

  	
   

  
	
   

  	
  Title:

  	
  Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  BUYER:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  LA QUINTA CORPORATION

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ David L Rea

  	
   

  	
   

  
	
   

  	
  Name:

  	
  David L. Rea

  	
   

  
	
   

  	
  Title:

  	
  Executive Vice
  President

  and Chief Financial Officer

  	
   

  
										

 

11Exhibit 10(a)

 

 The Company has an informal cash bonus plan pursuant to which the
Human Resources Committee authorizes a $50,000 bonus pool that may be paid at
the discretion of the Chief Executive Officer to reward superior performance
during the Fiscal Year by any employee of the Company other than the Chief
Executive Officer.

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