Document:

<PAGE>
                                                                    EXHIBIT 10.2

                         AMENDED AND RESTATED EXHIBIT A

                     LIST OF PARTNERS AND CONTRIBUTED ASSETS
                REVISED FOR EXERCISE OF IPO OVERALLOTMENT OPTION
                            AS OF SEPTEMBER 26, 2003

<TABLE>
<CAPTION>
                                                                                              AGREED VALUE     COMMON      COMMON
                                                                                             OF CONTRIBUTED PARTNERSHIP  PERCENTAGE
                                          INITIAL CONTRIBUTED ASSET        CASH CONTRIBUTION     ASSET         UNITS      INTEREST
<S>                              <C>                                       <C>               <C>              <C>        <C>
PARTNERS:

GENERAL PARTNER:
     Ashford OP General Partner LLC          None                               None             N/A             None        None

LIMITED PARTNERS:
     Ashford OP Limited Partner LLC    Cash, Holtsville property, services
                                          Public shares 22,336,478 @ $9.00   $201,028,302    $201,028,302     22,336,478
                           Overallotment - Public shares 1,734,072 @ $9.00     15,606,648      15,606,648      1,734,072
                                  Friends & family shares 163,522 @ $.8.37      1,368,679       1,368,679        163,522
                                            Bennett shares 500,000 @ $8.37      4,185,000       4,185,000        500,000
                                         Holtsville shares 216,634 @ $9.00                      1,949,706        216,634
                                         Underwriter shares 65,024 @ $9.00                        585,216         65,024
                                            Director shares 25,000 @ $9.00                        225,000         25,000
                                           Employee shares 650,300 @ $9.00                      5,852,700        650,300
                            Overallotment - Employee shares 39,017 @ $9.00                        351,153         39,017
                                                                            -----------------------------------------------
                                                                             $222,188,629    $231,152,404     25,730,047   81.9742%
     Remington Suites Austin, L.P.           Embassy Suites Austin             None           $ 8,673,750        963,750    3.0704%
                                             9505 Stonelake Blvd.
                                             Austin, TX
     Remington Suites Dallas, L.P.           Embassy Suites Dallas             None           $ 5,956,875        661,875    2.1087%
                                             14021 Noel Road
                                             Dallas, TX
     Remington Suites Dulles, L.P.           Embassy Suites Dulles             None          $ 12,076,875      1,341,875    4.2751%
                                             2339 Centreville Road
                                             Herndon, VA
     Remington Suites Las Vegas, L.P.        Embassy Suites Las Vegas          None          $ 13,008,753      1,445,417    4.6050%
                                             4315 Swenson Street
                                             Las Vegas, NV

     Chicago Illinois Hotel Limited          Radisson Hotel Covington          None           $ 1,980,000        220,000    0.7010%
           Partnership                       668 West Fifth Street
                                             Covington, KY
     Ashford Financial Corporation           Asset Management and Consulting   None           $ 9,225,000      1,025,000    3.2656%
                                             Agreements*
</TABLE>

<PAGE>

         * There are eight Asset Management and Consulting Agreements, each
between Ashford Financial Corporation and a hotel management company. Under
these eight agreements, Ashford Financial Corporation provides asset management
and consulting services to 27 hotels managed under contract with the eight
management companies. Each of the Asset Management and Consulting Agreements is
described below:

<TABLE>
<CAPTION>
                                                                          EXPIRATION DATE OF
                        MANAGER                                         MANAGEMENT AGREEMENT(1)            PROPERTY
<S>                                                                     <C>                          <C>
              Remington Hospitality, Inc                                   October 26, 2020          Alexandria Sheraton
                                                                           October 11, 2009          Annapolis Historic
                                                                           October 26, 2020          Beverly Hills Ramada
                                                                           June 3, 2011              Coral Gables Holiday Inn
                                                                           October 26, 2020          Ft. Worth Radisson
                                                                           May 31, 2011              Key West -- Crowne Plaza
                                                                           October 26, 2020          Woburn Radisson

              Remington Indianapolis Employers Corporation                 October 26, 2020          Indy Airport -- Radisson
                                                                           October 26, 2020          Indy Circle -- Radisson

              Remington Milford Hotel Employers  Corporation               April 26, 2008            Hyannis Ramada

              Remington Suites Hotel Corporation                           October 25, 2020          Houston Embassy
</TABLE>

--------
(1)      These expiration dates represent the initial expiration dates without
         giving effect to any extensions.

<PAGE>

<TABLE>
<CAPTION>
                                                                          EXPIRATION DATE OF
                        MANAGER                                         MANAGEMENT AGREEMENT(1)            PROPERTY
<S>                                                                     <C>                          <C>

              Remington Employers Corporation
                                                                             May 6, 2009             Commack Howard Johnson
                                                                             October 6, 2008         Dallas Best Western
                                                                             March 3, 2008           Falmouth Square Inn
                                                                             March 1, 2009           Gull Wings Suites
                                                                             October 26, 2020        Milford Radisson
                                                                             March 17, 2008          Rockland Radisson
                                                                             May 16, 2009            Saddlebrook Radisson
                                                                             September 1, 2009       St. Petersburg Hilton
                                                                             November 30, 2007       Warner Robins Ramada
                                                                             May 13, 2009            Westbury Howard Johnson
                                                                             May 2, 2009             Woburn Four Points

              Remington Employers Management Corporation                     May 31, 2010            West Palm Beach Embassy Suites
                                                                             July 13, 2008           Minnetonka Sheraton
                                                                             October 26, 2020        Nassau Bay Hilton

              Remington Orlando Management Corporation                       January 31, 2008        Sheraton Orlando

              Remington Ventura Employers Corporation                        December 31, 2008       Ventura Marriott
</TABLE><PAGE>
                                                                    EXHIBIT 10.3

                               FIRST AMENDMENT TO
                              AMENDED AND RESTATED
                        AGREEMENT OF LIMITED PARTNERSHIP
                                       OF
                     ASHFORD HOSPITALITY LIMITED PARTNERSHIP

         THIS FIRST AMENDMENT TO AMENDED AND RESTATED AGREEMENT OF LIMITED
PARTNERSHIP OF ASHFORD HOSPITALITY LIMITED PARTNERSHIP (the "Amendment") is made
this 16th day of October, 2003, to be effective as of August 29, 2003 (the
"Effective Date"), among the undersigned General and Limited Partners.

                                    RECITALS:

         A. Ashford Hospitality Limited Partnership (the "Partnership") was
formed as a limited partnership under the laws of the State of Delaware by the
filing of a Certificate of Limited Partnership with the Secretary of State of
Delaware on May 13, 2003.

         B. The General Partner and the Original Limited Partner entered into
the Agreement of Limited Partnership as of August 18, 2003, and the General
Partner and the Limited Partners entered into an Amended and Restated Agreement
of Limited Partnership for the Partnership on August 29, 2003 (as may be amended
from time to time, the "Agreement").

         C. The General Partner and the Limited Partners now desire to further
amend the Agreement.

         D. For purposes hereof, all terms with their initial letter capitalized
shall have the same meaning herein as given such terms in the Agreement.

         NOW, THEREFORE, in consideration of the foregoing, of the mutual
covenants between the parties hereto, and of other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:

         1. Amendment to Term. Section 3.2 of the Agreement is hereby modified
by deleting Section 3.2 thereof and adding the following in lieu thereof:

                  Section 3.2 TERM. The Partnership as herein constituted shall
         continue in perpetuity and shall have perpetual existence, unless
         earlier dissolved or terminated pursuant to law or the provisions of
         this Agreement.

         2. Limited Modification. Except as modified herein, the Agreement,
together with all terms and provisions thereof, shall remain in full force and
effect, all of which are ratified by the General Partner and the Limited
Partners.

         3. Governing Law. This Amendment shall be governed and construed in
accordance with the laws of the State of Delaware.

         4. Counterparts. This Amendment may be executed in multiple
counterparts, each one of which shall constitute an original executed copy of
this Amendment.

<PAGE>

         IN WITNESS WHEREOF, the parties have hereunto set their hands as of the
day and year first above written, effective as of the Effective Date.

                         GENERAL PARTNER:

                         ASHFORD OP GENERAL PARTNER LLC,
                         a Delaware limited liability company

                         By: /s/ DAVID A. BROOKS
                            ----------------------------------------------
                               David A. Brooks, Vice President

                         LIMITED PARTNERS:

                         ASHFORD OP LIMITED PARTNER LLC,
                         a Delaware limited liability company

                         By: /s/ DAVID A. BROOKS
                            ----------------------------------------------
                               David A. Brooks, Vice President

                         REMINGTON SUITES AUSTIN, L.P.,
                         a Delaware limited partnership

                         By:      Remington Suites Austin, Inc., a Delaware
                                  corporation, its general partner

                                  By: /s/ DAVID A. BROOKS
                                     -------------------------------------
                                     David A. Brooks, Vice President

                         REMINGTON SUITES DALLAS, L.P.,
                         a Delaware limited partnership

                         By:      Remington Suites Dallas, Inc., a Delaware
                                  corporation, its general partner

                                  By: /s/ DAVID A. BROOKS
                                     -------------------------------------
                                     David A. Brooks, Vice President

<PAGE>

                         REMINGTON SUITES DULLES, L.P.,
                         a Delaware limited partnership

                         By:      Remington Suites Dulles, Inc., a Delaware
                                  corporation, its general partner

                                  By:
                                     -------------------------------------
                                        David A. Brooks, Vice President

                         REMINGTON SUITES LAS VEGAS, L.P.,
                         a Delaware limited partnership

                         By:      Remington Suites Las Vegas, Inc., a Delaware
                                  corporation, its general partner

                                  By:
                                     -------------------------------------
                                        David A. Brooks, Vice President

                         CHICAGO ILLINOIS HOTEL LIMITED PARTNERSHIP,
                         a Delaware limited partnership

                         By:      Illinois Hotel II Corp., a Delaware
                                  corporation, its general partner

                                  By:
                                     -------------------------------------
                                        David A. Brooks, Vice President

                         ASHFORD FINANCIAL CORPORATION

                         By:
                            ----------------------------------------------
                               David J. Kimichik, President

         The undersigned has executed this Agreement not as a Partner of the
Partnership but to agree to the provisions of this Agreement imposing
obligations on, granting rights to, the Company.

                         ASHFORD HOSPITALITY TRUST, INC.

                         By:
                            ----------------------------------------------
                               David J. Kimichik, Chief Executive Officer

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