Document:

Advanced Micro Devices, Inc. 2000 Employee Stock Purchase Plan

 Exhibit 10.1 
 ADVANCED MICRO DEVICES, INC. 
 2000 EMPLOYEE STOCK PURCHASE PLAN 
 The following constitutes the provisions of the Advanced Micro Devices, Inc. 2000 Employee Stock Purchase Plan as amended through May 24, 2007 (the
“Plan”). The terms “Corporation” and “AMD” refer to Advanced Micro Devices, Inc. and, where appropriate, any Participating Subsidiary of Advanced Micro Devices, Inc. 
 1. Purpose. The purpose of the Plan is to foster continued cordial employee relations by providing employees of the Corporation and Participating
Subsidiaries with an opportunity to purchase Common Stock of the Corporation through options to acquire the stock on favorable terms and to elect to exercise such options through payroll deductions. It is the intention of the Corporation that the
Plan qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code of 1986, as amended (the “Code”). In addition, the Plan authorizes the grant of options and issuance of Common Stock which do
not qualify under Section 423 of the Code pursuant to sub-plans or special rules adopted by the Board or the Committee designed to achieve desired tax or other objectives in particular locations outside the United States. 
 2. Definitions. 
 (a)
“Affiliate” means (i) any Participating Subsidiary and (ii) any other entity in which the Corporation has an equity interest or significant business relationship and which has been designated as an “Affiliate” by the
Board or the Committee for purposes of the Plan. 
 (b) “Board” means the Board of Directors of the Corporation.

 (c) “Business Day” means a day on which AMD Common Stock is publicly traded. 
 (d) “Committee” means the committee designated by the Board pursuant to Paragraph 13(a) below to administer this Plan.

 (e) “Common Stock” means the common stock of Advanced Micro Devices, Inc., par value $0.01. 
 (f) “Compensation” in connection with qualified options under Section 423 of the Code, means salaries, 50% of
non-executive sales incentives, shift differential and lead pay. Bonuses, overtime, special awards, 100% of executive sales incentives, 50% of non-executive sales incentives, cash profit sharing, income attributable to the exercise of a stock option
and reimbursements and allowances are excluded. For options not intended to be qualified under Section 423 of the Code, “Compensation” may vary as determined by the Board or the Committee. 
 (g) “Employee” means any person, including an officer, employed by the Corporation or its Participating Subsidiaries or
Affiliates. Individuals who provide services to the Corporation or any of its Participating Subsidiaries or Affiliates as independent contractors, who are reclassified as common law employees for any reason other than for federal income and
employment tax purposes, are not eligible Employees. “Employee” shall not mean any individual who is not classified as an Employee on the payroll records of the Corporation or an Affiliate (including, but not limited to, an individual who
is a leased employee, who is classified as a consultant, independent contractor, or other non-employee category), even if such classification is determined to be erroneous, or is retroactively revised by a governmental agency, by court order or as a
result of litigation, or otherwise. In the event the classification of an individual is determined to be erroneous or is retroactively revised, the individual shall nonetheless continue to be excluded from participation in the Plan for all periods
prior to the date the Committee determines to classify such individual as an Employee. 
 (h) “Participating
Subsidiary” means any company during any period in which it is a “subsidiary corporation” as that term is defined in Code section 424(f) with respect to the Corporation and which has been designated as a “Participating
Subsidiary” by the Board or the Committee. 

 (i) “Offering Period” shall have meaning assigned by Paragraph 4. 

(j) “Option Grant Date” means the first Business Day of each Offering Period of the Plan. 
 (k) “Purchase Date” means the last Business Day of each Offering Period of the Plan. 
 3. Eligibility. Any Employee who shall be employed by the Corporation, its Participating Subsidiaries or an Affiliate on the first day of an
Offering Period, shall be eligible to participate in such Offering Period under the Plan, subject to the requirements of Paragraph 5. All Employees who participate in the Plan shall have the same rights and privileges under the Plan except for
differences which may be mandated by local law and which are consistent with Code Section 423(b)(5); provided, however, that Employees participating in a sub-plan adopted pursuant to Paragraph 13(b) which is not designed to qualify under Code
Section 423 need not have the same rights and privileges as Employees participating in the Code Section 423 Plan. The Board or the Committee may impose restrictions on eligibility and participation of Employees who are officers and
directors to facilitate compliance with federal or state securities laws or foreign laws. 
 4. Offering period. Absent action by the
Board, each Offering Period shall extend for three calendar months commencing on the first Business Day on or after February 1, May 1, August 1 and November 1 of each year and ending on the last Business Day of the third
month. 
 5. Participation. 
 (a) An eligible Employee may become a participant in the Plan by completing a subscription agreement authorizing payroll deduction or electing to make contributions in a form acceptable to the Board or the Committee
on the form provided by the Corporation and filing it with the designated Corporation office not later than the 15th day of the month prior to a new Offering Period or such other date as may be determined by the Board or the Committee; provided that
participants who go on a leave of absence are subject to the special rules set forth in Paragraph 10(c) hereof; and provided further that an Employee who commences employment in the month prior to a new Offering Period may complete a subscription
agreement on the date he commences employment. An Employee who becomes eligible to participate in the Plan on or after an Option Grant Date may not participate until the next Offering Period. 
 (b) If applicable, payroll deductions for a participant for any offering period shall commence with the first payroll following the Option
Grant Date and shall end with the Purchase Date of the offering, unless sooner terminated by the participant as provided in Paragraph 10, or by the Corporation. 
 (c) Notwithstanding any other provisions of the Plan to the contrary, in locations where local law prohibits payroll deductions, an
eligible employee may elect to participate through contributions to his account under the Plan in a form acceptable to the Board or the Committee. 
 6. Payroll Deductions/Contributions. 
 (a) At the time a participant files his subscription agreement, he
shall elect to have payroll deductions made on each payday during the Offering Period at a rate not exceeding twenty percent (20%) of the Compensation which he would otherwise receive on such payday, provided that the aggregate of such payroll
deductions during the Offering Period shall not exceed twenty percent (20%) of the aggregate compensation which he would otherwise have received during said Offering Period. The Board or the Committee shall determine whether the amount to be
deducted from each paycheck is to be designated as a specific dollar amount, or as a percentage of the eligible Compensation being paid on such pay day, or as either, and may also establish a minimum percentage or amount for such payroll deductions.

 (b) In countries where local law prohibits payroll deductions, at the time a participant files his subscription agreement,
he shall elect to make contributions on each payday during the Offering Period at a rate not exceeding twenty percent (20%) of the Compensation which he receives on such payday, provided that the aggregate of such contributions during the
Offering Period shall not exceed twenty percent (20%) of 

 
the aggregate compensation which he would receive during said Offering Period. The Board or the Committee shall determine whether the amount to be
contributed is to be designated as a specific dollar amount, or as a percentage of the eligible Compensation being paid on such payday, or as either, and may also establish a minimum percentage or amount for such contributions. 
 (c) All payroll deductions authorized by a participant shall be credited to his account under the Plan. 
 (d) A participant may discontinue his participation in the Plan as provided in Paragraph 10, and may decrease or increase the rate of his
payroll deductions only one time during the Offering Period by completing and filing with the Corporation a new authorization for payroll deduction. The change in rate shall become effective no later than the next available pay period after the
Corporation’s receipt of the new authorization. 
 7. Grant of Option 
 (a) On the Option Grant Date of each Offering Period, each participant during such Offering Period shall be granted an option to purchase
on each Purchase Date the number of shares of Common Stock determined by dividing the payroll deductions or contributions accumulated prior to such Purchase Date and retained in the participant’s account as of the Purchase Date by the
applicable option price as set forth in Paragraph 7(c) below; provided, however, that such purchase shall be subject to the limitations set forth in Paragraphs 6(b) and 12(a) hereof and the following additional limits: 
  

	 	(i)	The number of shares which may be purchased by any Employee for the first Offering Period to occur in any calendar year may not exceed the number of shares determined by dividing
$25,000 by the fair market value of a share of Common Stock on the first day of such Offering Period. 

  

	 	(ii)	The number of shares which may be purchased by an Employee for any subsequent Offering Period which occurs in the same calendar year (as referred to in subsection (i) above)
shall not exceed the number of shares determined by performing the calculation below: 

 Step One: The number of shares
purchased by the Employee during any previous Offering Period in the same calendar year shall be multiplied by the fair market value of a share of Common Stock on the first day of such previous Offering Period in which such shares were purchased.

 Step Two: The amount determined in Step One shall be subtracted from $25,000. 
 Step Three: The amount determined in Step Two shall be divided by the fair market value of a share of Common Stock on the first day of such
subsequent Offering Period (for which the maximum number of shares which may be purchased is being determined by this calculation) occurs. The quotient thus obtained shall be the maximum number of shares which may be purchased by any Employee for
such subsequent Offering Period. 
 (b) Notwithstanding any provisions of the Plan to the contrary, any option granted to an
Employee shall be limited so that immediately after the grant, such Employee would not own stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Corporation or of any Participating
Subsidiary of the Corporation (including stock which the employee may purchase under outstanding options and stock, the ownership of which is attributed to the Employee under Section 424 (d) of the Code). 
 (c) The purchase price per share of such shares shall be the lower of: (i) 85% of the fair market value of a share of the
Corporation’s Common Stock at the Option Grant Date; or (ii) 85% of the fair market value of a share of the Corporation’s Common Stock at the Purchase Date. The fair market value of the Corporation’s Common Stock on said dates
shall be the closing price on the New York Stock Exchange for such date, or if no sale is made on such date, the corresponding closing price on the first preceding date on which the Corporation’s Common Stock was sold. 
 (d) Any excess contributions remaining in the Employee’s account after the purchase of the shares on the Purchase Date will be
returned to the employee, or at the employee’s election may be rolled over for use 

 
in future Offering Periods in locations where the Board or the Committee have determined that such rollover is available under the Plan. 
 8. Exercise of Option. Unless a participant withdraws from the Plan as provided in Paragraph 10, his option for the purchase of shares will be
exercised automatically for the number of whole and fractional shares which the accumulated payroll deductions in his account could purchase at the applicable option price on the Purchase Date. During his lifetime, a participant’s option to
purchase shares hereunder is exercisable only by him. 
 9. Delivery. As promptly as practicable after the Purchase Date of each
offering, the Corporation shall arrange the delivery to the participant’s account at the Corporation’s approved brokerage firm, the number of shares purchased on exercise of his option. 
 10. Withdrawal; Termination of Employment. 
 (a) A participant may withdraw all, but not less than all, the funds credited to his account under the Plan at any time before five (5) business days before the Purchase Date by giving written notice to the
Corporation on a form provided for such purpose. All of the participant’s funds credited to his account will be paid to him promptly after receipt of his notice of withdrawal, his option for the current Offering Period will be automatically
cancelled, and if contributions were elected to be made through payroll deductions, no further payroll deductions for the purchase of shares will be made during the Offering Period. 
 (b) Upon termination of the participant’s employment for any reason, including retirement, permanent disability or death, the funds
credited to his account will be returned to him or, in the case of his death, to his estate, and his option will be automatically cancelled. 
 (c) If local law allows for exclusion of part-time employees, in the event an Employee fails to remain in the continuous employ of the Corporation or its Participating Subsidiaries or Affiliates for customarily at
least twenty (20) hours per week during an Offering Period, he will be deemed to have elected to withdraw from the Plan and the funds credited to his account will be returned to him and his option cancelled; provided that a participant who goes
on an unpaid leave of absence shall be permitted to remain in the Plan with respect to an Offering Period which commenced prior to the beginning of such leave of absence. If such participant is not guaranteed reemployment by contract or statute and
the leave of absence extends beyond 90 days, such participant shall be deemed to have terminated employment on the 91st day of such leave of absence. If the participant elected to make contributions to the Plan through payroll deductions, the
payroll deductions for a participant who has been on an unpaid leave of absence will resume at the same rate as in effect prior to such leave upon return to work unless changed by such participant or unless the participant has been on an unpaid
leave of absence either throughout an entire Offering Period or for more than ninety (90) days, in which cases the participant shall not be permitted to re-enter the Plan until a subscription agreement is filed with respect to a subsequent
Offering Period which commences after such participant has returned to work from the unpaid leave of absence. 
 (d) A
participant’s withdrawal from an offering will not have any effect upon his eligibility to participate in a succeeding offering or in any similar plan which may hereafter be adopted by the Corporation. 
 11. No Interest. No interest shall accrue on the payroll deductions or contributions of a participant in the Plan unless local law requires that
payroll deductions or contributions be held in an interest-bearing account. 
 12. Stock. 
 (a) The maximum number of shares of the Corporation’s Common Stock which may be sold pursuant to options exercised under the Plan
shall be 25,500,000 shares, subject to adjustment upon changes in capitalization of the Corporation as provided in Paragraph 18. The shares to be sold to participants in the Plan may be, at the election of the Corporation, either treasury shares or
shares authorized but unissued. In 

 
addition, the officers of the Corporation are authorized to acquire shares of the Corporation’s Common Stock in the open market for resale under this
Plan. If the total number of shares which would otherwise be subject to options granted pursuant to Paragraph 7(a) hereof at the Option Grant Date exceeds the number of shares then available under the Plan (after deduction of all shares for which
options have been exercised or are then outstanding), the Corporation shall make a pro rata allocation of the shares remaining available for option grant in as uniform and equitable a manner as is practicable. In such event, the Corporation may
reduce the rate of contributions as appropriate. 
 (b) The participant will have no interest or voting right in shares
covered by his option until such option has been exercised. 
 (c) Shares to be delivered to a participant under the Plan will
be registered in the name of the participant or in street name in the participant’s account at the Corporation’s approved brokerage firm. 
 13. Administration. 
 (a) The Plan shall be administered by the Board or a Committee appointed by the Board.
The Board may from time to time remove members from or add members to the Committee. Vacancies on the Committee, however caused, shall be filled by the Board. Acts taken or approved by a majority of the Committee at which a quorum is present, or
acts approved in writing by all members of the Committee, shall be the valid acts of the Committee. 
 (b) The Board or the
Committee may adopt rules or procedures relating to the operation and administration of the Plan to accommodate the specific requirements of local laws and procedures. Without limiting the generality of the foregoing, the Board or the Committee is
specifically authorized to adopt rules and procedures regarding handling of payroll deductions, payment of interest, conversion of local currency, payroll tax, withholding procedures and handling of stock certificates which vary with local
requirements. The Board or the Committee may adopt such rules, guidelines and forms as the applicable laws allow to accomplish the transfer of secondary Class 1 National Insurance Contributions (“NIC”) in the United Kingdom
(“UK”) from the employer to the participants in the UK and to make such transfer of NIC liability a condition to the exercise of options in the UK. 
 (c) The Board or the Committee may also adopt sub-plans applicable to particular Participating Subsidiaries, Affiliates or locations,
which sub-plans may be designed to be outside the scope of Code Section 423. The rules of such sub-plans may take precedence over other provisions of this Plan, with the exception of Paragraph 12(a) above, but unless otherwise superseded by the
terms of such sub-plan, the provisions of this Plan shall govern the operation of such sub-plan. 
 (d) The administration,
interpretation or application of the Plan by the Board or the Committee shall be final, conclusive and binding upon all participants. Members of the Board or the Committee who are eligible Employees are permitted to participate in the Plan.

 (e) No member of the Board or the Committee shall be liable for any action or determination made in good faith with respect
to the Plan or any option granted under it. In addition to such other rights of indemnification as they may have as directors or as members of the Committee, the members of the Committee shall be indemnified by the Corporation against the reasonable
expenses, including attorney’s fees actually and necessarily incurred in connection with the defense of any action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party by reason of any
action taken or failure to act under or in connection with the Plan or any option granted thereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by independent legal counsel selected by the
Corporation) or paid by them in satisfaction of a judgment in any such action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such Committee member is liable for negligence
or misconduct in the performance of his duties; provided that within sixty (60) days after institution of any such action, suit or proceeding the Committee member seeking indemnification shall in writing offer the Corporation the opportunity,
at its own expense, to handle and defend the same. 

 (f) All costs and expenses incurred in administering the Plan shall be paid by the
Corporation. The Board or the Committee, if any is appointed, may request advice or assistance or employ such other persons as are necessary for proper administration of the Plan. 
 14. Transferability. Neither funds credited to a participant’s account nor any rights with regard to the exercise of an option or to receive
shares under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution) by the participant and options granted hereunder are exercisable, during the
participant’s lifetime, only by the participant. Any such attempt at assignment, transfer, pledge or other disposition, shall be void and without effect, except that the Corporation may treat such act as an election to withdraw funds in
accordance with Paragraph 10. 
 15. Use of Funds. All funds received or held by the Corporation under the Plan may be used by the
Corporation for any corporate purpose, and the Corporation shall not be obligated to segregate such funds unless segregation of accounts is required by local law. 
 16. Statements. Statements of account will be given to participating Employees promptly following each Purchase Date, which statements will set forth the amounts of payroll deductions or funds accumulated in
the Employees’ account, the per share purchase price, the number of shares purchased and any excess contributions. 
 17. Changes in
Capitalization. In the event of any stock dividend, stock split, spin-off, recapitalization, merger, consolidation, exchange of shares or the like, the number of shares then subject to option and the number of authorized shares remaining
available to be sold shall be increased or decreased appropriately, with such other adjustment as may be deemed necessary or equitable by the Board. 
 18. Amendment. The Board of Directors may at any time amend the Plan. No such amendment may make any change in any option previously granted which adversely affects the rights of any participant without such
participant’s consent. No amendment for which shareholder approval is required shall be effective unless such approval is obtained within the required time period. Whether shareholder approval is required shall be determined by the Board or the
Committee and consistent with the rules of the Securities Exchange Commission, the Code or the stock exchange(s) on which the Corporation’s shares are listed, as such rules are in effect at the time the Plan amendment becomes effective.

 19. Termination. The Board of Directors of Advanced Micro Devices, Inc. may at any time terminate the Plan. No such termination
will affect options previously granted. Unless sooner terminated by the Board, this Plan shall terminate February 1, 2011. 
 20.
Notices. All notices or other communications by a participant to the Corporation in connection with the Plan shall be deemed to have been duly given when received in the form specified by the Corporation at the location, or by the person,
designated by the Corporation for the receipt thereof. 
 21. Government and Other Regulations. The Plan, and the grant and exercise
of the rights to purchase shares hereunder, and the Corporation’s obligation to sell and deliver shares upon the exercise of rights to purchase shares, shall be subject to all applicable federal, state and foreign laws, rules and regulations,
and to such approvals by any regulatory or government agency as may, in the opinion of counsel for the Corporation, be required. Any amendments requiring shareholder approval shall take effect only subject to such approval. 
 22. Applicable Law. The interpretation, performance and enforcement of this Plan shall be governed by the laws of the State of California.Exhibit 10.29

 Exhibit 10.29 
 EMPLOYMENT AGREEMENT 
 This EMPLOYMENT AGREEMENT (the “Agreement”), is dated as of
the 25th day of May, 2007 between MHI Hospitality Corporation, a Maryland corporation (the “Company” or “Employer”), and Julia Farr Connolly (the “Executive”). 
 RECITALS: 
 WHEREAS, the Company is in the business of owning and developing
hotels (“the Company’s Business”); and 
 WHEREAS, the Company seeks to enter into an agreement with Executive to engage her
to serve as Vice President and Chief Compliance Officer of the Company on the terms and conditions stated herein; and 
 WHEREAS, Executive
seeks to enter into an agreement to take on such responsibilities under the terms and conditions stated herein; and 
 WHEREAS, the Company
desires to employ the Executive on the terms and conditions set forth herein. 
 NOW, THEREFORE, on the basis of the foregoing premises and
in consideration of the mutual covenants and agreements contained herein, the parties hereto agree as follows: 
 Section 1.
Employment. The Company hereby agrees to employ the Executive and the Executive hereby accepts such employment with the Company, on the terms and subject to the conditions hereinafter set forth. Subject to the terms and conditions contained
herein, the Executive shall serve as Vice President and Chief Compliance Officer of the Company and shall have such duties as are typically performed by a chief compliance officer of a corporation of similar size and type as the Company. The
Executive shall render her services at the direction of and shall report to the Chief Executive Officer and the Chief Financial Officer of the Company. The Executive agrees to use best efforts to promote and further the business, reputation and good
name of the Company. The Executive’s primary place of employment shall be in the Greenbelt, Maryland area, or such other location as determined by the Board of Directors of the Company. If in the best interests of the Company, Executive may
work remotely one day each business week; said day being Friday. 
 Section 2. Commencement Date; Term. Unless terminated
pursuant to Section 6 hereof the Executive’s employment hereunder, the employment agreement shall commence on the date first written above (“Commencement Date”), and shall continue during the period ending on December 31,
2009. Thereafter, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 60 days prior written notice that the term will not be extended (the “Employment
Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 6. 
 Section 3. Compensation and Benefits During the Employment Term. The Executive shall be entitled to the following compensation and benefits: 
 (a) Salary. As compensation for the performance of the Executive’s services hereunder, the Company shall pay to the Executive
a salary (the “Salary”) of One Hundred Thirty Seven 

  

 1 

 
Five Hundred Thousand Dollars ($137,500) per annum. The Salary shall be payable in arrears in approximately equal bi-weekly installments (except that the
first and last such bi-weekly installments may be prorated if necessary) on the Company’s regularly scheduled payroll dates, minus such deductions as may be required by law or reasonably requested by the Executive. The Nominating, Corporate
Governance and Compensation Committee of the Company’s board of directors (the “Committee”) shall review Executive’s Salary annually beginning with the 2008 fiscal year in conjunction with its regular review of employee salaries
and may increase her Salary as in effect from time to time as recommended by the CEO and approved by the Committee. 
 (b)
Annual Performance Bonus. The Executive shall be eligible to receive, in respect of each calendar year during the Employment Term beginning with 2007, an annual cash performance bonus (the “Annual Performance Bonus”) in an amount
consistent with the bonus program as established by the CEO and approved by the Committee for that calendar year, based upon (other than as noted below) the attainment of quantitative performance goals set forth in a performance plan by
January 31 of each year (the “Performance Plan”). The Annual Performance Bonus shall he paid to the Executive within thirty (30) days following the receipt of the audited results of the Company for the plan year, but in no event
later than one hundred eighty (180) days after the close of the plan year. If necessary, the Annual Performance Bonus shall be granted under a performance-based plan that meets the requirements under Section 162(m) of the Internal Revenue
Code (the “Code”). 
 (c) Stock Options. The Company may grant to Executive stock options, performance
shares, performance units, deferred shares or restricted stock from time to time under the terms of a separate agreement, and consistent with the terms of any stock incentive plan that may be created by the Company. 
 (d) Benefits. In addition to the Salary and the Annual Performance Bonus, the Executive shall be eligible to participate in the
Company’s health, insurance, retirement, and other benefit plans and programs. The Executive shall also be entitled to three (3) weeks of paid vacation during the Employment term. Additionally, the Executive will be entitled to two
(2) weeks paid time for illness and personal leave, and all Company holidays. The Executive shall be entitled to all other benefits in accordance with the Company’s policies in effect from time to time. 
 (e) Directors and Officers Liability Insurance. The Company will, at its expense, provide the Executive with Directors and Officers
Liability’ Insurance, subject to the provisions governing such insurance and on such terms as the Board may from time to time decide. The Company will indemnify Executive and hold Executive harmless, to the maximum extent permitted by
applicable law, against all costs, charges and expenses incurred or sustained by her in connection with any action, suit or proceeding to which she may be made a party by reason of her being an officer, director or employee of the Company or of any
subsidiary or affiliate of the Company at any time. 
 (f) Insurance and Other Related Benefits. Company shall pay for
one hundred percent (100%) of all health insurance premiums under a policy covering Executive and her immediate family. 
 (g) Other Benefits. Executive is entitled to visit the hotels in the Company’s portfolio and utilize same for Executive’s conduct of Company business or for leisure on a space available basis at no cost to Executive.

 (h) Retirement. To the extent a retirement or profit sharing plan is created, Executive shall be entitled to
participate in said plan pursuant to applicable law. 
  

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 (i) No Other Compensation. Except as otherwise expressly provided herein, or in
any other written document executed by the Company and the Executive, no other compensation or other consideration shall become due or payable to the Executive on account of the services rendered hereunder. 
 (j) Taxation and Withholding. The compensation and benefits provided for in this Section 3 (as well as the Termination
Payments provided for in section 6(g)) shall be reported as income to Executive and subjected to tax withholding as required under applicable Federal, state, and local laws. 
 Section 4. Exclusivity. During the Employment Term, the Executive shall devote her full time to the business of the Company, shall faithfully
serve the Company, shall in all respects conform to and comply with the lawful and reasonable directions and instructions given to her by the Senior Management of the Company and the Board. The Executive shall use reasonable efforts to promote and
serve the interests of the Company and shall not engage in any other business activity, whether or not such activity shall be engaged in for pecuniary profit, except that the Executive may participate in the activities of professional trade
organizations and, engage in personal investing activities, provided that such activities do not interfere in any material respect with the services to be provided by the Executive hereunder and are not in companies that compete with the Company.

 Section 5. Reimbursement for Expenses. In addition to, but without duplication of the expenses described in Section 3(f),
the Executive is authorized to incur reasonable expenses in the discharge of the services to be performed hereunder, including, without limitation, expenses for travel, entertainment, maintaining professional licenses and certifications, trade
association fees, attendance at association meetings and conferences, lodging and similar items in accordance with the Company’s expense reimbursement policy, as the same may be modified by the Company from time to time. The Company shall
reimburse the Executive for all such proper expenses upon presentation by the Executive of itemized accounts of such expenditures in accordance with the financial policy of the Company, as in effect from time to time. 
 Section 6. Termination and Default. 
 (a) Death. The Executive’s employment shall automatically terminate upon her death and upon such event, the Executive’s estate shall be entitled to receive only the Accrued Compensation (as
hereinafter defined) pursuant to Section 6(g)(ii) hereof and no other severance compensation. 
 (b) Disability.
If the Executive is unable to perform the duties required of her under this Agreement because of illness, incapacity, or physical or mental disability, the Employment Term shall continue and the Company shall pay all compensation required to be paid
to the Executive hereunder, unless the Executive is unable to perform the duties required of her under this Agreement for an aggregate of 60 days (whether or not consecutive) during any 12 month period during the term of this Agreement (a
“Disability”), in which event the Executive’s employment shall terminate. Executive shall be entitled to receive the accrued compensation pursuant to the Company’s group disability policy as it applies to all Company employees
and not other severance compensation. 
 (c) Cause. The Company may terminate the Executive’s employment at any
time, with or without Cause. For purposes of this Agreement, “Cause” shall mean the occurrence of any of the following: (i) the Executive’s failure (except where due to a disability contemplated by subsection (b)

  

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hereof), neglect or refusal to perform her duties hereunder, (ii) any breach of this Agreement by the Executive (or any grossly negligent, willful or
intentional act of the Executive) that injures the reputation or business of the Company or its affiliates in any material respect; (iii) material breach by the Executive of her obligations under this Agreement, including, but not limited to,
disclosure of confidential Company information; (iv) Executive’s gross negligence in the performance or intentional, material nonperformance (continuing for ten (10) days after receipt of written notice of need to cure) of any of
Executive’s material duties and responsibilities hereunder; (v) Executive’s dishonesty, fraud or misconduct with respect to the business or affairs of the Company; (vi) any violation of any of the Company’s policies,
including but not limited to, the Business Code of Conduct and the Insider Trading Policy; (vii) the Executive’s indictment of conviction of or pleading of no contest to a felony or any misdemeanor involving fraud; (viii) the
commission by the Executive of an act of fraud or embezzlement, or any other act involving the misappropriation of funds or assets; or (ix) chronic alcohol abuse or illegal drug use by Executive. Any act, or failure to act, based upon authority
given pursuant to a resolution duly adopted by the Senior Management of the Company or the Board or based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in
the best interests of the Company. Cause shall not exist pursuant to clause (i), (ii), (iii) or (iv) of this Section 6(c) unless the Executive has failed to correct the activity alleged to constitute “Cause” within ten
(10) days following written notice from the Company of such activity, which notice shall specifically set forth the nature of such activity and the corrective action reasonably sought by the Company. Notwithstanding the foregoing, the
termination of the Executive’s employment for Cause shall be pursuant to the action of the CEO taken in conformity with the Bylaws of the Company. In the event of Executive’s termination for Cause as set forth above, Executive shall not be
entitled to any severance compensation. 
 (d) Without Cause. The Company may terminate the Executive’s employment
during the Employment Term without Cause at any time by giving written notice to the Executive. A termination of the Executive’s employment without Cause shall mean a termination initiated by the Company for any reason other than Cause or on
account of death or Disability. A termination without Cause shall be effective immediately upon notice given by the Company to the Executive, or such later date as may be mutually agreed between the Executive and the Company. Upon a termination of
employment without cause, Executive shall be entitled to the compensation payments provided in Section 6(g). 
 (e)
Resignation/Termination for Good Reason. The Executive shall have the right to terminate her employment for Good Reason under any of the following circumstances: (i) the failure by the Company to pay to the Executive the compensation and
benefits, or expense reimbursement in accordance with Sections 3 and 5 herein; (ii) a material diminution in the Executive’s responsibilities or authority; (iii) any material breach of this Agreement by the Company; or
(iii) following a Change in Control (as defined below) of Employer followed by a termination of Executive’s employment within (12) months of such Change in Control; provided, however, that Good Reason shall not exist upon a
termination of employment described in Section 6(b), (c) or (d) herein; provided, further, that the Executive must provide written notice of termination of employment for Good Reason within thirty (30) days following the
Executive’s knowledge of an event constituting Good Reason or such event shall not constitute Good Reason hereunder. Upon termination pursuant to this Section 6(e), Executive shall be entitled to the compensation payments provided in
Section 6(g). 
  

 4 

 Notwithstanding the foregoing, Good Reason shall not be deemed to exist unless the Company fails to cure the event giving
rise to Good Reason within thirty (30) days after receipt of written notice thereof given by the Executive. For purposes of this Agreement, “Change in Control” shall mean the following events or circumstances that occur after the
Effective Date: 
 (A) The ownership or acquisition (whether by a merger contemplated by Section 6(e)(v)(B) below, or
otherwise) by any Person (other than a Qualified Affiliate (as defined below)), in a single transaction or a series of related or unrelated transactions, of Beneficial Ownership of more than fifty percent (50%) of (1) the Company’s
outstanding common stock (the “Common Stock”) or (2) the combined voting power of the Company’s outstanding securities entitled to vote generally in the election of directors (the “Outstanding Voting Securities”);

 (B) The merger or consolidation of the Company with or into any other Person other than a Qualified Affiliate, if,
immediately following the effectiveness of such merger or consolidation, Persons who did not Beneficially Own Outstanding Voting Securities immediately before the effectiveness of such merger or consolidation directly or indirectly Beneficially Own
more than fifty percent (50%) of the outstanding shares of voting stock of the surviving entity of such merger or consolidation (including for such purpose in both the numerator and denominator, shares of voting stock issuable upon the exercise
of then outstanding rights (including then exercisable conversion rights), options or warrants) (“Resulting Voting Securities”), provided that, for purposes of this Section 6(e)(v)(B), if a Person who Beneficially Owned Outstanding
Voting Securities immediately before the merger or consolidation Beneficially Owns a greater number of the Resulting Voting Securities immediately after the merger or consolidation than the number the Person received solely as a result of the merger
or consolidation, that greater number will be treated as held by a Person who did not Beneficially Own Outstanding Voting Securities before the merger or consolidation, and provided further that such merger or consolidation would also constitute a
Change in Control if it would satisfy the foregoing test if rights, options and warrants were not included in the calculation; 
 (C) Any one or a series of related sales or conveyances to any Person or Persons (including a liquidation) other than any one or more Qualified Affiliates of all or substantially all of the assets of the Company; 
 (D) Incumbent Directors cease to be two-thirds (2/3) of the members of the Board of Directors, where an “Incumbent
Director” is (1) an individual who is a member of the Board of Directors on the effective date of this Agreement or is otherwise named in the Company’s registration statement on Form S-11 as consenting to serve on the Board of
Directors upon the closing of the initial public offering of the Company’s common stock or (2) any new director whose appointment by the Board of Directors or whose nomination for election by the stockholders was approved by at least
two-thirds (2/3) of the persons who were already Incumbent Directors at the time of such appointment, election or approval, other than any individual who assumes office initially as a result of an actual or threatened election contest with
respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors or as a result of an agreement to avoid or settle such a contest or
solicitation; or 
 (E) A Change in Control shall also be deemed to have occurred immediately before the completion of a
tender offer for the Company’s securities representing more than fifty percent (50%) of the Outstanding Voting Securities, other than a tender offer by a Qualified Affiliate. 
 (F) For purposes of this Agreement, the following definitions shall apply: 
 (a) “Beneficial Ownership,” “Beneficially Owned” and “Beneficially Owns” shall have the meanings provided in
Exchange Act Rule l3d-3; 
  

 5 

 (b) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended;

 (c) “Person” shall mean any individual, entity, or group (within the meaning of Section l3(d)(3) or 14(d)(2) of
the Exchange Act), including any natural person, corporation, trust, association, partnership, joint venture, limited liability company, legal entity of any kind, government, or political subdivision, agency or instrumentality of a government, as
well as two or more Persons acting as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of the Company’s securities; amid 
 (d) “Qualified Affiliate” shall mean (i) any directly or indirectly wholly owned subsidiary of the Company, (ii) any
employee benefit plan (or related trust) sponsored or maintained by the Company or by any entity controlled by the Company; or (iii) any Person consisting or controlled in whole or in part of or by the Employee or one or more individuals who
are then the Company’s Chief Executive Officer or any other named executive officer (as defined in Item 402 of Regulation S-K under the Securities Act of 1933) of the Company as indicated in its most recent securities filing made before
the date of the transaction. 
 (f) Payment in Lieu. The Company may, in its sole discretion, at any time after notice
of termination without Good Reason has been given to the Company by the Executive, terminate this Agreement, provided that, in addition to any amount payable to the Executive under Section 6(g) herein, the Company shall pay to the Executive
(without duplication) her then current Salary and continue benefits provided pursuant to Section 3(d) herein, for the duration of the unexpired notice period. To the extent that any payment under this section 6(f) is deferred compensation
subject to section 409A of the Internal Revenue Code, no payment will be made to Executive before the date that is six months after Executive’s separation from service. The first payment made will include all payments that otherwise would have
been made during the six- month period after separation. 
 (g) Termination Payments. 
 (i) Termination without Cause or By Executive for Good Reason. In the event that during the Employment Term the Executive’s
employment is terminated by the Company without Cause or the Executive terminates her employment for Good Reason, the Company shall pay to the Executive the sum of the following amounts: (A) all amounts fully earned pursuant to the terms of
this Agreement, but unpaid hereunder through the date of termination, if any, in respect of Salary, any accrued but not yet paid Annual Performance Bonus owed from the year prior to Executive’s termination, granting and vesting of any
previously issued stock options or restricted stock, payment of life, health and disability insurance coverage for remaining term of the Agreement and unreimbursed expenses (the “Accrued Obligations”). Executive agrees that she shall not
be entitled to any pro-rated payment of the Annual Performance Bonus for the year of Executive’s termination. Notwithstanding any other provision in this Agreement or the terms of any severance plan or policy maintained by the Company or its
affiliates to the contrary, if the Company pays the Executive the severance benefit as provided in this Section 6(g)(i), the Executive shall not be entitled to receive any other payments or benefits under any other severance or similar plan
maintained by the Company or its affiliates. To the extent that any payment under this Section 6(g)(i) is deferred compensation subject to section 409A of the Internal Revenue Code, no such payment will be made to Executive before the date that
is six months after Executive’s separation from service. The first payment made will include all payments that otherwise would have been made during the six- month period after separation. To the extent any payment under this
Section 6(g)(i) is otherwise required to be modified to comply with section 409A of the Internal Revenue Code, Executive agrees to so modify the terms of this Section 6(g)(i) in the same manner as the Agreements of the Company’s other
executives are modified. 
  

 6 

 (ii) Termination due to Death or Disability. In the event that during the
Employment Term the Executive’s employment is terminated by the Company due to the Executive’s death or Disability, the Company shall pay to the Executive, or the Executive’s estate, all amounts fully earned pursuant to the terms of
this Agreement, but unpaid hereunder through the date of termination, if any, in respect of Salary, and accrued but not yet paid Annual Performance Bonus owed from the year prior to Executive’s termination (the “Accrued
Compensation”). Such payments shall be made no later than sixty (60) days after the close of the year in which earned. 
 (iii) Termination for Cause or By Executive without Good Reason. In the event that during the Employment Term the Executive’s employment is terminated by the Company for Cause or by the Executive by resignation without Good
Reason, the Company shall pay to the Executive the Accrued Compensation. Executive shall not be entitled to any ungranted shares in Section 3(d) if Executive is terminated by the Company for Cause, or by the Executive by resignation without
Good Reason. Such payments shall be made no later than sixty (60) days after the close of the year in which earned. 
 (iv) Expiration of Agreement. If either the Company or the Executive elects not to renew this Agreement and it expires, the Executive shall not receive any termination payments other than any amounts fully earned pursuant to the
terms of this Agreement, but unpaid hereunder through the date of expiration of this Agreement, if any, in respect of Salary, and any accrued but not yet paid Annual Performance Bonus owed with respect to the year of such expiration and any prior
year. Such payment shall be made no later than sixty (60) days after the close of the year in which earned. 
 (h) No
Mitigation or Offset. In the event of any termination of Executive’s employment hereunder, Executive shall be under no obligation to seek other employment or otherwise mitigate the obligations of the Company under this Agreement, and there
shall be no offset against amounts due Executive under this Agreement on account of amounts purportedly owing by Executive to the Company or amounts earned by Executive from any source. Any amounts due to Executive under this Agreement upon
termination of employment are considered to be reasonable by the Company and are not in the nature of a penalty. 
 (i)
Survival of Operative Sections. Upon any termination of the Executive’s employment, the provisions of Sections 6(g) and 7 through 21 of this Agreement shall survive to the extent necessary to give effect to the provisions thereof.

 Section 7. Confidentiality and Non-Disclosure Covenants. 
 (a) Confidential Information. The Company considers one of its most valuable assets to be its confidential and trade secret
information, including, but not limited to, potential real estate acquisition targets and client lists of the respective hotel properties. Confidential Information shall not include information which has: (i) previously been disclosed by the
Company in published papers; (ii) becomes part of the public domain, by publication or otherwise; and (iii) not due to the direct or indirect acts or omissions of Executive. The parties to this Agreement recognize that the Company has
invested and will invest considerable amounts of time and money in attaining and developing all of the information described above (hereinafter collectively referred to as “Confidential Information”), and any unauthorized disclosure or
release of such Confidential Information in any form would harm the Company. 
  

 7 

 (b) Non-Disclosure of Confidential Information. Executive shall refrain from
directly or indirectly disclosing to any third party, for any purpose other than for the direct benefit of the Company, any of the Company’s Confidential Information during her employ and thereafter, whatever the reason for her leaving the
Company’s employment. 
 (c) Confidentiality of the Company’s Property. Executive recognizes that all of the
documents and other tangible items which contain any of the Company’s Confidential Information are the Company’s property exclusively, including those documents and items which Executive may have developed or contributed to developing
while employed by the Company, whether or not developed during regular working hours or on the Company’s premises. 
 (d)
Executive recognizes that all materials, identification information, keys, computer software and hardware, computer programming libraries, manuals, databases, disks, tapes, patent applications, technical notes and equipment the Company provides for
Executive are also the property of the Company exclusively. All items described in this and the preceding paragraph are hereinafter collectively referred to as “the Company’s Property”. 
 (e) Should Executive’s employment be terminated for any reason, Executive shall: 
 (i) Refrain from taking any of the Company’s Property or allowing any of the Company’s Property to be taken from the Company’s premises;

 (ii) Refrain from reproducing in any manner or allowing to be reproduced any of the Company’s Property; 
 (iii) Refrain from removing any such reproduction from the Company’s premises; and 
 (iv) Immediately return to the Company any original or reproduction of the Company’s Property in her custody, control or possession. 
 Section 8. Non-Solicitation Covenants. During her employment with the Company and for a period of one (1) year thereafter, whatever the
reason for Executive’s termination of employment, unless Executive receives the Company’s advance written waiver, Executive shall not, either directly or indirectly, either on her own behalf or on behalf of another business, engage in or
assist others in the following activities: 
 (a) Soliciting, hiring, recruiting, or attempting to recruit, for any business
which competes with the Company’s Business any person employed or contracted with by the Company or employed or contracted with by the Company during the twelve (12) months immediately prior to Employee’s termination of employment
with the Company; 
 (b) Soliciting for any business which competes with the Company’s Business, any competitive business
from any of the Company’s customers during the twelve (12) months immediately prior to Executive’s termination of employment, or specific prospective customers solicited by the Company during the six (6) months immediately prior
to Executive’s termination of employment. 
  

 8 

 Section 9. Injunctive Relief. Without intending to limit the remedies available to the
Company, the Executive acknowledges that a breach of any of the covenants contained in Sections 7 and 8 hereof may result in material irreparable injury to the Company or its subsidiaries or affiliates for which there is no adequate remedy at law,
that it will not be possible to measure damages for such injuries precisely and that, in the event of such a breach or threat thereof the Company shall be entitled to obtain a temporary restraining order and/or a preliminary or permanent injunction,
without the necessity of proving irreparable harm or injury as a result of such breach or threatened breach of Sections 7 and 8 hereof, restraining the Executive from engaging in activities prohibited by Sections 7 and 8 hereof or such other relief
as maybe required specifically to enforce any of the covenants in Sections 7 and 8 hereof. 
 Section 10. Extension of Restricted
Period. In addition to the remedies the Company may seek and obtain pursuant to Section 9 of this Agreement, the Restricted Period shall be extended by any and all periods during which the Executive shall be found by a court to have been in
violation of the covenants contained in Sections 7 and 8 hereof. 
 Section 11. Representations and Warranties. The Executive and
the Company represent and warrant to the other as follows: 
 (a) This Agreement, upon execution and delivery by the Executive
and the Company, subject to approval by the Company’s Compensation Committee, will be the valid and binding obligation of the Executive and the Company enforceable against the Executive and the Company in accordance with its terms. 

(b) As to the Executive only, neither the execution and delivery of this Agreement nor the performance of this Agreement in accordance
with its terms amid conditions by the Executive (i) requires the approval or consent of any governmental body or of any other person or (ii) conflicts with or results in any breach or violation of, or constitutes (or with notice or lapse
of time or both would constitute) a default under, any agreement, instrument, judgment, decree, order, statute, rule, permit or governmental regulation applicable to the Executive. 
 (c) The representations and warranties of the Executive and the Company contained in this Section 11 shall survive the execution and
delivery of this Agreement and the consummation of the transactions contemplated hereby. 
 Section 12. Assignment; No Third-Party
Beneficiaries. This Agreement shall inure to the benefit of and be binding on, the successors and assigns of each of the parties, including, but not limited to, the Executive’s heirs, the Executive’s guardian in the event of the
Executive’s disability, the personal representatives of the Executive’s estate and any successor to all or substantially all of the business and/or assets of the Company. This Agreement, and the Executive’s rights and obligations
hereunder, may not be assigned by the Executive: any purported assignment by the Executive in violation hereof shall be null and void. The Company may assign this Agreement and its rights hereunder, but in the event of assignment, the assignee shall
expressly assume all obligations of the Company hereunder and the Company shall remain fully liable for the performance of all of such obligations in the manner prescribed in this Agreement. Except as otherwise provided herein, nothing in this
Agreement shall confer upon any person or entity not a party to this Agreement, or the legal representatives of such person or entity, any rights or remedies of any nature or kind whatsoever under or by reason of this Agreement. 
 Section 13. Waiver and Amendments. Any waiver, alteration, amendment or modification of any of the terms of this Agreement shall be valid
only if made in writing and signed by the parties hereto. 

  

 9 

 
The parties agree to cooperate in good faith to timely amend this Agreement, as required by guidance issued under section 409A of the Internal Revenue Code,
to conform with the requirements of section 409A of the Internal Revenue Code. No waiver by either of the parties hereto of their rights hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions
hereunder unless such waiver specifically states that it is to be construed as a continuing waiver. 
 Section 14. Ethical
Conduct. Executive shall conduct business in an ethical manner by: 
 (a) Avoiding conflicts of interest; 
 (b) Complying with the Company’s Code of Conduct and Corporate Governance Principles; 
 (c) Refusing to accept, and reporting to the Company the offering of anything of material value, including a gift, loan on preferential
terms, reward, promise of future employment, favor or service which would influence a reasonably prudent person in the discharge of her duties for the Company or which is based on any understanding that her action would be influenced; and

 (d) Abiding by policies and guidelines relating to ethical conduct which the Company may issue as it deems appropriate.

 Section 15. Indemnification. The Executive and the Company shall enter into an indemnification agreement providing for the
indemnification of Executive to the fullest extent permitted by Maryland law. 
 Section 16. Severability, Governing Law.
The Executive acknowledges and agrees that the covenant set forth in Sections 7 and 8 hereof are reasonable and valid in geographical and temporal scope and in all other respects. If any of such covenants or such other provisions of this Agreement
are found to be invalid or unenforceable by a final determination of a court or arbitration panel of competent jurisdiction (a) the remaining terms amid provisions hereof shall be unimpaired and (b) the invalid or unenforceable term or
provision shall be deemed replaced by a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF MARYLAND APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO ITS CONFLICT OF LAWS RULES. 
 Section 17. Notices. 
 (a) All communications under this Agreement shall be in writing and shall be delivered by hand or mailed by overnight courier or by registered or certified mail, postage prepaid 
  

			
	If to the Company:	  	Andrew M. Sims, CEO
		  	MHI Hospitality Corporation
		  	4801 Courthouse Street
		  	Williamsburg, Virginia 23188

  

 10 

			
	If to the Executive:	  	Julia F. Connolly
		  	MHI Hospitality Corporation
		  	6411 Ivy Lane, Suite 510
		  	Greenbelt, MD 20770

 (b) Any notice so addressed shall be deemed to be given: if delivered by hand, on
the date of such delivery; if mailed by overnight courier, on the first business day following the date of such mailing; and if mailed by registered or certified mail, on the third business day after the day of such mailing. 
 Section 18. Section Headings. The headings of the sections and subsections of this Agreement are inserted for convenience only and shall not
be deemed to constitute a part thereof affect the meaning or interpretation of this Agreement or of any term or provision hereof. 
 Section 19. Entire Agreement. This Agreement constitutes the entire understanding and agreement of the parties hereto regarding the employment of the Executive. This Agreement supersedes all prior negotiations, discussions,
correspondence, communications, understandings and agreements between the parties relating to the subject matter of this Agreement. 
 Section 20. Severability. In the event that any part or parts of this Agreement shall be held illegal or unenforceable by any court or administrative body of competent jurisdiction, such determination shall not effect the
remaining provisions of this Agreement which shall remain in full force and effect. 
 Section 21. Counterparts. This Agreement
may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall be considered one and the same agreement. 
 Section 22. Arbitration, Service, Venue, Jury Trial. Any unresolved dispute or controversy arising or in connection with this agreement shall be settled exclusively by arbitration, conducted before a
single arbitrator in Greenbelt, Maryland in accordance with the rules of the American Arbitration Association then in effect. The arbitrators shall not have the authority to add to, detract from, or modify any provision hereof nor to award punitive
damages to any injured party. The arbitrators shall have the authority to order back-pay, severance compensation, vesting of options (or cash compensation in lieu of vesting of options), reimbursement of costs, including those incurred to enforce
this agreement, and interest thereon in the event the arbitrators determine that employee was terminated without disability or good cause, as defined in Section 6, or that the Company has otherwise materially breached this agreement. A decision
by a majority of the arbitration panel shall be final and binding. Judgment may be entered on the arbitrators’ award in any court having jurisdiction. Nothing in this section shall effect or limit the Company’s right to obtain any type of
relief available to it in a court of law as a result of the Employee’s breach of Sections 7 and 8. In the event either party seeks such relief, the parties hereby (1) submit to the exclusive jurisdiction of the courts of the State of
Maryland and the U.S. federal courts in the State of Maryland, (ii) consent that any such action or proceeding may be brought in any such venue, (iii) waive any objection that any such action or proceeding, if brought in any such venue,
was brought in any inconvenient forum and agree not to claim the same, (iv) agree that any judgment in any such action or proceeding may be enforced in other jurisdictions, (v) consent to service of process at the address set forth in
Section 16 herein, and (vi) to the extent applicable, waive their respective rights to a jury trial of 

  

 11 

 
any claim or cause of action based on or arising out of this agreement or any dealings between them relating to the subject matter of this agreement.

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

			
	MHI HOSPITALITY CORPORATION
		
	By:	 	/s/ Andrew M. Sims
		 	Andrew M. Sims
		 	Chief Executive Officer

  

	
	
	/s/ Julia Farr Connolly
	Julia Farr Connolly
	Vice President and
	Chief Compliance Officer

  

 12

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