Document:

Form of Non-Competition and Right of First Refusal Agreement

 EXHIBIT 10.17 
  
 NON-COMPETITION AND RIGHT OF FIRST REFUSAL AGREEMENT 
  
 THIS AGREEMENT (the “Agreement”) is entered as of the
             day of             , 2004 by and among EHP Operating Partnership, L.P., a Maryland limited partnership (the
“Partnership”), Eagle Hospitality Properties Trust, Inc., a Maryland corporation (the “Company” or the “REIT”), Commonwealth Hotels, Inc., a Kentucky corporation (“Commonwealth”), William P. Butler and Daniel
T. Fay. 
  
 WHEREAS, the REIT proposes to undertake an
underwritten initial public offering of shares of its common stock, par value $0.01 per share (the “Offering”); and 
  
 WHEREAS, the REIT will serve as general partner of the Partnership and will own a majority interest in the Partnership; and 
  
 WHEREAS, prior to the date hereof, the Commonwealth Parties (as defined
herein) have been actively engaged in various aspects of the acquisition, development, renovation, management or operation of hotel properties in a number of different industry segments and classifications, including, without limitation, the hotel
properties that the Company (as defined herein) intends to acquire in connection with the Offering; and 
  
 WHEREAS, it is anticipated that the REIT will undertake to acquire, invest in and purchase hotel properties that meet the REIT’s investment criteria;
and 
  
 WHEREAS, the Commonwealth Parties desire to (i) grant the
Company an exclusive right of first refusal for all future investment, acquisition and certain development opportunities involving First-Class Hotels (as defined herein) that are identified by any of the Commonwealth Parties and (ii) agree not to
manage First-Class Hotels that compete with hotels owned by the Company or in which the Company has an investment; and 
  
 WHEREAS, Commonwealth agrees not to develop any First-Class Hotels during the term of this Agreement; and 
  
 WHEREAS, the Company desires to grant Commonwealth an exclusive right of
first refusal to manage all hotels that the Company acquires in the future, unless (a) the acquisition opportunity was not known to the Company and has been brought to the Company by another management company that has been pre-qualified as to its
management capabilities by the Company or (b) a majority of the REIT’s Independent Directors decides in good faith for valid business reasons to use another management company.  
  
 NOW THEREFORE, IN CONSIDERATION of the mutual covenants and promises of the
parties provided for in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  

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 1. Term 
  
 Unless terminated pursuant to Section 8 hereof, the term of this Agreement is ten years from the date first written above. 
  
 2. Acquisition Exclusivity Rights of the Company. 
  
 (a) During the term of this Agreement, each of the Commonwealth Parties
agrees to notify the Company, on an exclusive basis, of any opportunity to invest in or acquire a First-Class Hotel identified by, or made known to, such Commonwealth Party, whether in fee or leasehold, and whether in whole or in part (hereinafter
referred to as an “Acquisition Property”). In addition to such notification, the offering Commonwealth Party shall provide to the Company such information, materials and documents reasonably available to the offering Commonwealth Party
with respect to such Acquisition Property or opportunity, subject to the requirements of any confidentiality agreements with third parties. Notwithstanding the foregoing, the offering Commonwealth Party will either (i) refer the opportunity directly
to the Company prior to execution of a confidentiality agreement or (ii) negotiate any confidentiality agreement so as to permit disclosure of the opportunity, and all information, materials and documents with respect thereto, to the Company.

  
 (b) The Company shall notify the offering Commonwealth Party,
within 10 business days following the Company’s receipt from the offering Commonwealth Party of the information with respect to an Acquisition Property as described in Section 2(a), whether the Company intends to pursue such opportunity. If the
Company notifies the offering Commonwealth Party that the Company intends to pursue such opportunity, the offering Commonwealth Party shall not provide any information regarding an Acquisition Property to any third party until otherwise notified in
writing by a duly authorized representative of the Company and shall not directly or indirectly pursue an Acquisition Property on its own behalf. If the Company (i) notifies the offering Commonwealth Party that the Company does not intend to pursue
the opportunity or (ii) fails to notify the offering Commonwealth Party by the end of the 10 business day period that the Company intends to pursue the opportunity, then, in either event, so long as the Acquisition Property is not located within a
Competitive Set (as hereinafter defined), the offering Commonwealth Party may pursue the opportunity on its own behalf; provided, however, that, if the offering Commonwealth Party subsequently becomes aware that the price or other terms with respect
to the Acquisition Property previously presented to the Company have changed materially, the offering Commonwealth Party will notify the Company of any such change in price or terms with respect to such opportunity in accordance with the provisions
of this Section 2 and the Company shall notify the offering Commonwealth Party, within 10 business days following the Company’s receipt from the offering Commonwealth Party of such modified information, whether the Company intends to pursue
such modified or additional opportunity. If the Acquisition Property is within a Competitive Set, none of the Commonwealth Parties may pursue an investment or acquisition opportunity in the Acquisition Property, despite the Company’s decision
not to pursue such opportunity on its own behalf, unless this restriction is waived by a majority vote of the Independent Directors. 
  

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 (c) If the Company accepts the opportunity to invest in or acquire an Acquisition Property from an
offering Commonwealth Party, in addition to paying the purchase price to the seller of the Acquisition Property, the Company will reimburse the offering Commonwealth Party for its out-of-pocket and third-party expenses actually incurred in
connection with such Acquisition Property, including any earnest money deposits, upon submission to the Company of an accounting of the expenses set forth in reasonable detail, and reimbursement of overhead, reasonable market rate brokerage fees
where appropriate or other similar fees payable to the Commonwealth Party; provided, however, that such the payment of such expenses is approved by a majority of the Independent Directors. 
  
 (d) Notwithstanding anything in this Section 2 to the contrary, nothing
herein shall restrict or prevent any Commonwealth Party or an entity it controls from investing in or acquiring any First-Class Hotel when such investment or acquisition is in conjunction with such Commonwealth Party obtaining a management agreement
for that First-Class Hotel, provided that such First-Class Hotel is not within a Competitive Set. 
  
 3. Development Exclusivity Rights of the Company. Neither the Company nor Commonwealth shall directly develop hotels during the term of this Agreement. 
  
 (a) During the term of this Agreement, each of the Commonwealth Parties
agrees to notify the Company, on an exclusive basis, of any opportunity to develop a First-Class Hotel identified by, or made known to, such Commonwealth Party, whether in fee or leasehold, and whether in whole or in part (hereinafter referred to as
a “Development Property”). In addition to such notification, the offering Commonwealth Party shall provide to the Company all information, materials and documents reasonably available to the offering Commonwealth Party with respect to such
Development Property or opportunity, subject to the requirements of any confidentiality agreements with third parties. Notwithstanding the foregoing, the offering Commonwealth Party will either (i) refer the opportunity directly to the Company prior
to execution of a confidentiality agreement or (ii) negotiate any confidentiality agreement so as to permit disclosure of the opportunity, and all information, materials and documents with respect thereto, to the Company.  
  
 (b) The Company shall notify the offering Commonwealth Party, within
10 business days following the Company’s receipt from the offering Commonwealth Party of the information with respect to a development opportunity as described in Section 3(a), whether the Company intends to pursue the development of such
opportunity. If the Company notifies the offering Commonwealth Party that the Company intends to pursue the development of such opportunity, the offering Commonwealth Party shall not provide any information regarding such opportunity to any third
party until otherwise notified in writing by a duly authorized representative of the Company and shall not directly or indirectly pursue such opportunity on its own behalf unless the Company thereafter notifies the offering Commonwealth Party that
it no longer intends to pursue or cause the development of such opportunity. If the Company (i) notifies the offering Commonwealth Party that the Company does not intend to pursue the development of the opportunity or (ii) fails to notify the
offering Commonwealth Party by the end of the 10 business day period that the Company intends to pursue the development of the opportunity, then, in either event, so long as the Development Property is not located within a Competitive Set, the

  

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offering Commonwealth Party may pursue the opportunity directly or indirectly on its own behalf; provided, however, that the offering Commonwealth Party
shall grant an exclusive right of first refusal to the Company to acquire the Development Property after its completion and commencement of operations, and prior to being sold to any other party, pursuant to the procedure set forth in Section 2
hereof. If the Development Property is within a Competitive Set, the Commonwealth Parties may not pursue the development of the Development Property, despite the Company’s decision not to pursue such opportunity on its own behalf, unless this
restriction is waived by a majority vote of the Independent Directors. 
  
 (c) If the Company accepts the opportunity to develop a Development Property from an offering Commonwealth Party, the Commonwealth Parties shall offer same to the Company for acquisition under one or more methods of transaction including:
turnkey, or open book, cost plus fee arrangements. The Company shall have the right to elect the method and type of the transaction. In addition to paying the purchase price to the seller of the Development Property, the Company will reimburse the
offering Commonwealth Party for its out-of-pocket and third-party expenses actually incurred in connection with such Development Property, including any earnest money deposits, upon submission to the Company of an accounting of the expenses set
forth in reasonable detail. In all such cases, the Commonwealth Parties and/or its affiliated service organizations shall be entitled to receive compensation at reasonable fair market values and fees together with overhead, market rate development
and construction management fees, reasonable market rate brokerage fees where appropriate; provided, however, that such the payment of such expenses is approved by a majority of the Independent Directors. 
  
 (d) Notwithstanding anything in this Section 3 to the contrary, nothing
herein shall restrict or prevent any Commonwealth Party from investing in or developing any First-Class Hotel when such investment or development is in conjunction with an affiliate of a Commonwealth Party obtaining a management agreement for that
First-Class Hotel, provided that such First-Class Hotel is not within a Competitive Set. 
  
 4. Non-Competition within Competitive Set 
  
 Each of the Commonwealth Parties agrees not to manage any First-Class Hotel in a Competitive Set, unless waived by a majority vote of the Independent Directors. The foregoing shall not apply to management contracts in
existence prior to the Company owning a hotel in a Competitive Set. 
  
 5.
Management Agreements. 
  
 (a) The Company agrees to grant
Commonwealth a right of first refusal, on the terms and conditions set forth in this Section 5(a), to manage all First-Class Hotels that the Company acquires during the term of this Agreement. Not less than 30 days prior to the Company’s
acquisition of a First-Class Hotel or the completion and opening of a First-Class Hotel, the Company will notify Commonwealth of the same and will make available to Commonwealth all information reasonably available to the Company with respect to
such First-Class Hotel. Commonwealth shall have 10 business days from receipt of such notice from the Company to notify the Company in writing that Commonwealth elects to manage, or cause one of its 

  

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subsidiaries to manage, the First-Class Hotel pursuant to a management agreement that is no less favorable to the Company than the terms and conditions set
forth in the form attached hereto as Annex A, together with any such other material modifications as agreed to by a majority of the Independent Directors. If Commonwealth (i) notifies the Company that Commonwealth or a subsidiary of Commonwealth
does not intend to manage such First-Class Hotel or (ii) fails by the end of the 10 business day period to notify the Company of its election to manage the First-Class Hotel, then, in either event, the Company may offer management of such
First-Class Hotel to other hotel management companies on such terms as the Company shall determine and Commonwealth shall have no further rights with respect thereto. 
  
 (b) Notwithstanding the provisions of Section 5(a), Commonwealth shall not have the right to manage any such First-Class
Hotels acquired by the Company during the term of this Agreement if: 
  
 (i) the acquisition opportunity was not known to the Company and has been brought to the Company by another management company that has been pre-qualified by the Company; or 
  
 (ii) a majority of the Independent Directors in good faith
decides for valid business reasons to use another management company. 
  
 6.
Events of Default. 
  
 The following shall constitute events
of default under this Agreement (each an “Event of Default”): 
  
 (a) The filing of a voluntary petition in bankruptcy or insolvency or a petition for reorganization under any bankruptcy law by Commonwealth, the REIT or the Partnership; provided, however, that a non-defaulting party shall have provided
written notice to the defaulting party and such filing shall not have been withdrawn with prejudice within 10 days after receipt of such notice; 
  
 (b) The consent to any involuntary petition in bankruptcy or the failure to vacate, within 90 days from the date of entry thereof, any order approving an
involuntary petition by Commonwealth, the REIT or the Partnership; 
  
 (c) The entering of an order, judgment or decree by any court of competent jurisdiction, on the application of a creditor, adjudicating any of Commonwealth, the REIT or the Partnership as bankrupt or insolvent, or
approving a petition seeking reorganization or appointing a receiver, trustee or liquidator of all or a substantial part of such party’s assets, and such order, judgment or decree continues unstayed and in effect for any period of 90 days or
more; 
  
 (d) The appointment of a receiver for all or any
substantial portion of the property of Commonwealth, the REIT or the Partnership; 
  

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 (e) The Company fails to reimburse any offering Commonwealth Party pursuant to Section 2(c) or Section
3(c) hereof; provided, however, that such offering Commonwealth Party shall have provided written notice to the Company of such failure and such failure continues for a period of 30 days after receipt of such notice, or up to a maximum of 120 days
after receipt of such notice if the performance of such covenant, undertaking, obligation or condition is being contested in good faith; 
  
 (f) The failure by a party hereto to perform, keep or fulfill any of the covenants, undertakings, obligations or conditions set forth in this Agreement;
provided, however, that a non-defaulting party shall have provided written notice to the defaulting party of such failure and such failure continues for a period of 30 days after receipt of such notice, or up to a maximum of 120 days after receipt
of such notice if the performance of such covenant, undertaking, obligation or condition is being contested in good faith; and 
  
 (g) Any of the offering Commonwealth Parties defaults under the terms of any document evidencing the acquisition or development opportunity described in
Section 2(a) or Section 3(a) hereof and accepted by the Company; provided, however, that the Company shall have provided written notice to any such offering Commonwealth Party of such default and the offering Commonwealth Party shall not have cured
such default within any cure period provided to the offering Commonwealth Party under such document. 
  
 If an Event of Default occurs, the non-defaulting party may terminate this Agreement pursuant to Section 7 hereof and pursue any and all rights and
remedies available, at law or in equity, to the non-defaulting party under applicable law. 
  
 7. Termination 
  
 This
Agreement may be terminated: 
  
 (a) by the Company upon written
notice after both the occurrence of an Event of Default by any of the Commonwealth Parties and the lapse of any applicable opportunity to cure, but only if the Company is not then in default; 
  
 (b) by any of the Commonwealth Parties upon written notice after both the
occurrence of an Event of Default by the Company and the lapse of any applicable opportunity to cure, but only if such terminating party is not then in default; 
  

(c) by the Company, if the Company experiences a change in control (as such term is used in the management agreement) or sells hotels and, to the
extent permitted by the management agreements, terminates all of the management agreements between the Company and Commonwealth, provided that the Company has paid all required termination fees related to such termination of the management
agreements set forth therein; 
  
 (d) by the Company, if there has
been a termination of all of the management agreements between the Company and Commonwealth due to a default by Commonwealth (but after the lapse of any applicable notice opportunity to cure) under such management agreements; 
  

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 (e) by Mr. Butler, at such time as either Mr. Butler or a designee of Corporex Companies, Inc.
(“Corporex”) is not a member of the REIT’s board of directors, provided that termination pursuant to this provision will only terminate this Agreement with respect to Mr. Butler; 
  
 (f) by Mr. Fay, at such time as Mr. Fay is no longer employed by Commonwealth
Hotels, Inc., Corporex, Mr. Butler or any of their Affiliates and no longer owns an equity interest in Commonwealth Hotels, Inc., provided that termination pursuant to this provision will only terminate this Agreement with respect to Mr. Fay; or

  
 (g) by the Commonwealth Parties, at such time as
Commonwealth no longer manages at least eight (8) hotels owned by the Company; or 
  
 (h) at such time as Commonwealth no longer manages any hotels owned by the Company. 
  
 In the event of the termination of this Agreement pursuant to this Section 8, this Agreement shall become null and void, except that no such
termination shall relieve any breaching party from liability resulting from any breach by that party of this Agreement. 
  
 9. Miscellaneous. 
  
 (a) Definitions. 
  
 (i) “Affiliate” of a Person means (A) any other Person directly, or indirectly through one or more intermediaries, controlling,
controlled by or under common control with such Person; (B) any officer, director, partner, employer, or direct or indirect beneficial owner of any 10% or greater equity or voting interest of such Person; or (C) any other Person for which a Person
described in clause (B) acts in any such capacity. 
  
 (ii) “Commonwealth Parties” means, collectively, Commonwealth, Mr. Butler, Mr. Fay and each of their respective Affiliates and “Commonwealth Party” means the one that applies in the circumstance. 
  
 (iii) “Company” means, collectively, the REIT, the
Operating Partnership and their respective subsidiaries. 
  
 (iv) “Competitive Set” means (A) a hotel or hotel development opportunity that is located within the same Geographic Competitive Set as a hotel owned by the Company or in which the Company has an investment,
(B) a hotel or hotel development opportunity that is within five miles of a suburban hotel owned by the Company or in which the Company has an investment or (C) any hotel or hotel development opportunity within one mile of a central business
district in which the Company owns a hotel or has an investment in a hotel. 
  

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 (v) “First-Class Hotel” means full-service hotels and full service all-suites
hotels located in the United States of America that provide food and beverage service and meeting and banquet space and that are included in the upper upscale chain scale, as classified by Smith Travel Research. 
  
 (vi) “Geographic Competitive Set” means a group of
five or more properties selected in good faith by the Company; provided, that, if any Commonwealth Party contests such selection in good faith, then any such disagreement shall be resolved by a non-appealable determination by one of the following:
Smith Travel Research, Hospitality Valuation Services or Lodging Econometrics, as selected by the Independent Directors. 
  
 (vii) “Independent Directors” means directors of the REIT who, at the time, are “independent” in accordance with the
rules promulgated from time to time by the New York Stock Exchange for companies listed on the New York Stock Exchange. 
  
 (viii) “Person” mean a natural person or any legal, commercial or governmental entity, such as, but not limited to, a
corporation, general partnership, joint venture, limited partnership, limited liability company, trust, business association, group acting in concert, or any person acting in a representative capacity. 
  
 (b) Complete Agreement; Construction. This Agreement shall constitute
the entire agreement among the parties with respect to the subject matter thereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter. 
  
 (c) Governing Law. This Agreement shall be governed by and construed
in accordance with the laws of the jurisdiction of the State of Kentucky without regard to the principles of conflicts of laws thereof. 
  
 (d) Notices. All notices and other communications required or permitted hereunder shall be in writing, shall be deemed duly given upon actual
receipt, and shall be delivered (i) in person, (ii) by registered or certified mail (air mail if addressed to an address outside of the country in which mailed), postage prepaid, return receipt requested, or (iii) by facsimile or other generally
accepted means of electronic transmission (provided that a copy of any notice delivered pursuant to this clause (iii) shall also be sent pursuant to clause (ii)), addressed as follows (or to such other addresses as may be specified by like notice to
the other parties): 
  
 To the Company:

 Eagle Hospitality Properties Trust, Inc. 
 Attention: President and Chief Executive Officer 
 100 E. RiverCenter Blvd. 
 Suite 480 
 Covington, KY 41011 
  

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 To Commonwealth Hotels (and its Affiliates): 
 Commonwealth Hotels, Inc. 
 Attention: President and Chief Executive Officer 
 c/o Corporex Companies, Inc. 

100 E. RiverCenter Blvd. 
 Suite 1100 
 Covington, KY 41011 
  
 Mr. William P. Butler 
 c/o Corporex Companies, Inc. 
 100 E. RiverCenter Blvd. 
 Suite 1100 
 Covington, KY 41011 
  
 Mr. Daniel T. Fay 
 c/o Commonwealth Hotels, Inc. 
 50 E. RiverCenter Blvd. 
 Suite 600 
 Covington, KY 41011 
  
 (e) Amendment and Waiver.
No amendment, modification or supplement to this Agreement shall be binding on any of the parties hereto unless it is in writing and signed by the parties in interest at the time of the modification, and further provided any such modification is
approved by a majority of the Independent Directors of the REIT. No provision hereof may be waived except by a writing signed by the party against whom any such waiver is sought. The waiver by any party of a breach of any provision of this Agreement
shall not operate as or be construed as a waiver of any subsequent breach. 
  
 (f) Successors and Assigns. None of the Commonwealth Parties may assign this Agreement without the prior written consent of the REIT. This Agreement and all of the provisions hereof shall be binding upon and
inure to the benefit of the parties to this Agreement and their respective successors and permitted assigns. 
  
 (g) No Third-Party Beneficiaries. This Agreement is solely for the benefit of the parties to this Agreement and should not be deemed to confer upon
third parties any remedy, claim, liability, reimbursement, claims or action or other right in excess of those existing without reference to this Agreement. 
  
 (h) Titles and Headings. Titles and headings to sections in this Agreement are inserted for the convenience of reference only and are not intended
to be a part of or to affect the meaning or interpretation of this Agreement. 
  
 (i) Maximum Legal Enforceability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof. Any such prohibition or unenforceability in any jurisdiction shall not invalidate or render 

  

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unenforceable such provision in any other jurisdiction. Without prejudice to any rights or remedies otherwise available to any party to this Agreement, each
party hereto acknowledges that damages would not be an adequate remedy for any breach of the provisions of this Agreement and agrees that the obligations of the parties hereunder shall be specifically enforceable. 
  
 (j) Further Assurances. The parties to this Agreement will execute and
deliver or cause the execution and delivery of such further instruments and documents and will take such other actions as any other party to the Agreement may reasonably request in order to effectuate the purpose of this Agreement and to carry out
the terms hereof. 
  
 (k) Time of the Essence. Time is of
the essence of this Agreement. 
  
 (l) Counterparts. This
Agreement may be executed in counterparts, each of which shall be deemed an original but together shall be deemed one and the same Agreement. 
  
 (m) Severability. If any provision of this Agreement is held unenforceable, this Agreement shall be construed without such provision. 

 

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

			
	EHP OPERATING PARTNERSHIP, L.P.
		
	By:	 	Eagle Hospitality Properties Trust, Inc., its sole general partner

  

					
			
	 	 	By:	 	 
	 	 	 	 	 J. William Blackham
 President and Chief Executive Officer

  

			
	EAGLE HOSPITALITY PROPERTIES TRUST, INC.
		
	By:	 	 
	 	 	 J. William Blackham
 President and Chief Executive Officer

  

			
	COMMONWEALTH HOTELS, INC.
		
	By:	 	 
	 	 	 Daniel T. Fay
 President and Chief Executive Officer

	
	 
	 William P. Butler

	
	 
	 Daniel T. Fay

  

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 Annex A 
  
 Form of Management Agreement 
  

 12Form of Thomas A. Frederick Employment Contract

 Exhibit 10.18 
  
 EAGLE HOSPITALITY PROPERTIES TRUST, INC. 
 EMPLOYMENT AGREEMENT 
  
 THIS AGREEMENT is made effective as of the              day of             , 2004, by and between EAGLE
HOSPITALITY PROPERTIES TRUST, INC., a real estate investment trust formed under the laws of the state of Maryland (referred to hereinafter as the “REIT” or the “Company”), and Thomas A. Frederick (“Employee”).

  
 WITNESSETH: 
  
 WHEREAS, the parties desire to provide for Employee’s employment by the
REIT and to provide him with compensation incident thereto; 
  
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants herein set forth, the parties hereby covenant and agree as follows: 
  

1.    Employment. The REIT agrees to employ the Employee, and the Employee agrees to be employed by the REIT, upon the
following terms and conditions. 
  
 2.    Term. The initial term of Employee’s employment pursuant to this Agreement shall begin on the date first written above and shall continue for a period of three (3) years thereafter, unless terminated
earlier pursuant to the provisions of Section 10, provided that Sections 8, 9, 10(b), 11, if applicable, and 12, if applicable, shall survive the termination of such employment and shall expire in accordance with the terms set forth therein.

  
 3.    Renewal Term. The term of
Employee’s employment shall automatically renew for additional consecutive renewal terms of one (1) year unless either party gives written notice of his/its intent not to renew the terms of the Agreement sixty (60) days prior to the expiration
of the then expiring term. Employee’s base salary for each renewal, term shall be negotiated and mutually agreed upon by and between the REIT and Employee. 
  

4.    Duties. Employee shall serve as the Chief Financial Officer of the REIT. Employee shall be responsible to and report
directly to the Chief Executive Officer of the REIT. Employee shall devote his best efforts and substantially all his time to the diligent, faithful and loyal discharge of the duties of his employment and towards the proper, efficient and successful
conduct of the REIT’s affairs. Employee further agrees to refrain, during the term of this Agreement, from profiting from any transaction or initiative involving any other real estate investment trust or other transaction or initiative that
could be considered competitive in nature with the REIT without the express written consent of the Board of Directors. 
  
 5.    Compensation. For all services rendered by the Employee under this Agreement, compensation shall be paid to Employee as
follows: 
  
 (a)    Base Salary.
Employee’s base annual salary shall be Two Hundred Thousand Dollars ($200,000.00); Employee’s base salary shall be paid to him on a semi-monthly basis in accordance with the REIT’s standard and customary payroll practices. 

 
 (b)    Incentive Compensation/Bonus. To be determined
by the Board of Directors in its sole and complete discretion. The objective of this Section 5(b) is and shall be to provide Employee with an opportunity to earn additional incentive compensation in the form of cash and/or performance stock based
upon the REIT’s attainment of certain stated financial results under the approved business plan for the REIT and the Employee’s performance in fulfilling his duties and obligations to the REIT. Employee understands that the Company’s
payment of any cash bonus and/or any such award of performance stock will be contingent upon the REIT and Employee’s attainment of the goals/criteria/benchmarks which have yet to be established by the REIT’s Board of Directors. Once the
Board of Directors has specified terms and conditions for the above described incentive compensation/bonus, same shall be reduced to writing each year and signed by both the REIT and Employee and made a part of this Agreement. 
  

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 (c)    IPO Restricted Stock. In addition to the annual base compensation and bonus
compensation provided in sections 5(a) and 5(b) herein above, Employee shall also be eligible to receive Twenty Thousand Eight Hundred Thirty Three (20,833) shares of REIT common stock, which shall be restricted and subject to a five (5) year
vesting schedule. The aforesaid five (5) year vesting schedule shall be in equal amounts of 20% per year at the end of each 12 month period, provided Employee is then employed by the REIT. In addition, the vesting schedule shall include provisions
that allow for the acceleration of vesting of the IPO restricted stock not sooner than three years in the event the REIT and Employee exceed a certain 15% performance threshold to be established by the Governance and Compensation Committee and
approved by the Board of Directors. Employee understands and acknowledges that any restricted stock awarded to him hereunder shall be made subject to any and all terms and conditions contained in the REIT’s 2004 Long-Term Incentive Plan.

  
 (d)    Employee shall be responsible for
any and all tax consequences incident to the restricted stock award, which is contemplated herein above, in accordance with the legal requirements and voluntary elections for recognizing the value conferred to Employee thereunder as ordinary income
to him, 
  
 6.    Fringe Benefits.
During the term of this Agreement, Employee shall be entitled to the following benefits: 
  
 (a)    Health Insurance - During the term of this Agreement, Employee shall be provided with the standard medical health and insurance coverage maintained by REIT on its employees and/or offered to
REIT employees. 
  
 (b)    Vacation -
Employee shall be entitled in each of the first five years of employment to a vacation of two (2) weeks during which time his compensation will be paid in full and after five years of employment vacation shall be three weeks; provided, however, such
vacation weeks may not be taken consecutively without the written consent of the Chief Executive Officer. 
  
 (c)    Life Insurance - During the term of this Agreement, the REIT shall maintain on the life of Employee, provided he is insurable
at standard rates a term life insurance policy in the amount of Four Hundred Thousand Dollars ($400,000.00). Employee shall have the right to designate the beneficiary of such policy. Employee agrees to take any and all physicals that are
necessarily incident to the issuance and/or renewal of said policy. In addition, Employee agrees to take any and all physicals that are necessarily incident to the procurement of key person insurance upon his life by The REIT. In the event that
Employee is not insurable at standard rates during the term of this Agreement, but Employee is able to procure rated coverage, Employee shall have the right to procure coverage for a lower amount of insurance, the cost of which is equivalent to the
standard term rate cost of $400,000.00 of coverage. 
  
 (d)    Employee shall be responsible for any and all taxes, owed, if any, on the fringe benefits provided to him pursuant to this Section 6. 
  
 7.    Expenses. During the term of Employee’s employment hereunder, Employee shall be
entitled to receive prompt reimbursement for all reasonable and customary business expenses incurred by Employee in fulfilling Employee’s duties and responsibilities hereunder, provided that such expenses are incurred and accounted for in
accordance with the policies and procedures established by the REIT. 
  
 8.    Non-Competition & Non-Solicitation. In connection with the diligent, faithful and loyal discharge of the duties of Employee’s employment under this Agreement, Employee agrees that so long as he is
employed by the REIT (whether or not pursuant to the provisions of this Agreement) he will not, directly or indirectly, be employed by, or otherwise give assistance to or be affiliated with (as an employee, consultant, independent contractor of any
type, director or otherwise) any person, firm, corporation, trust or entity which is directly or indirectly engaged in a competitive business with that carried on by the REIT, any of its investment properties or affiliates and/or Corporex Companies
and any subsidiaries or affiliates of Corporex Companies. Employee agrees that so long as he is employed by the 

  

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REIT, he will not own, engage in, conduct, manage, operate, participate in, be employed by or be connected in any manner whatsoever with any competitive
business with that carried on by the REIT, any of its investment properties, and/or Corporex Companies and any subsidiaries or affiliates of Corporex Companies or become associated with, in any capacity, or employ or attempt to employ any current or
future employee of the REIT, any of its investment properties and/or Corporex Companies and any subsidiaries or affiliates of Corporex Companies or induce any such employee to leave any such entity’s employ. 
  
 In addition, as an inducement for and as additional consideration for the
REIT entering into this Agreement, Employee agrees that for a period of one (1) year commencing on the termination of employment, he will not, with any other person, corporation or entity, directly or indirectly, by stock or other ownership,
investment, employment, or otherwise, or in any relation whatsoever: 
  
 (1)    solicit, divert or take away or attempt to solicit, divert or take away any of the business or investors of the REIT, any of its investment properties and/or Corporex Companies and any subsidiaries or affiliates
of Corporex Companies or the REIT; 
  
 (2)    attempt to seek or cause any vendor or investor of the REIT, its investment properties and/or Corporex Companies and any subsidiaries or affiliates of Corporex Companies or the REIT to refrain from continuing
their relationship with the REIT, any of its investment properties and/or Corporex Companies and any subsidiaries or affiliates of Corporex Companies or the REIT; 
  
 (3)    engage in any other business activity which is competitive with the REIT, its investment
properties and/or Corporex Companies and any subsidiaries or affiliates of Corporex Companies or the REIT, within a fifty (50) mile radius of the REIT’s principal place of business, any of its investment properties and/or Corporex Companies and
any subsidiaries or affiliates of Corporex Companies. The parties agree that the application of this non-competition provision shall extend to any other city/state in which the REIT, its investment properties and/or Corporex Companies and any
subsidiaries or affiliates of Corporex Companies actively conduct business and/or invest in real estate during the term of this Agreement; 
  
 (4)    knowingly employ or attempt to employ in any capacity any employee or agent of REIT, any of its investment properties and/or
Corporex Companies and any subsidiaries or affiliates of Corporex Companies. 
  
 (5)    perform services, either as an employee or as a consultant, for any competitive real estate investment trust or business activity of Corporex Companies and any subsidiaries or affiliates of
Corporex Companies. 
  
 For purposes of this Section 8, a
competitive real estate investment trust or business shall mean any person, corporation, partnership or other legal entity engaged, directly or indirectly, through subsidiaries or affiliates, in any other business activity which can reasonably be
determined to be competitive with the principal business activity being engaged in by the REIT, its investment properties and/or Corporex Companies and any subsidiaries or affiliates of Corporex Companies; and any other business activity which the
REIT and/or Corporex Companies and any subsidiaries or affiliates of Corporex Companies subsequently become involved in after the date of this Agreement. 
  
 Employee has carefully read and has given careful consideration to all the terms and conditions of this Agreement and agrees that they are necessary for
the reasonable and proper protection of the REIT’s business, The Employee acknowledges that the REIT has entered into this Agreement because of Employee’s promise that he will abide by and be bound by each of the terms contained in this
Section 8. The Employee agrees that REIT shall be entitled to injunctive relief to enforce these terms in addition to all other legal remedies. Employee acknowledges that each and every one of the terms of this provision is reasonable in all
respects including their subject matter, duration, scope and the geographical area embraced herein and waives any and all right to compensation and/or benefits herein mentioned or referred to if Employee violates the provisions of this Section 8.

  

 3 

 9.    Non-Disclosure and of Confidential Information. The Employee
acknowledges that the REIT’s trade secrets and confidential and proprietary information, including without limitation: 
  
 (a)    unpublished information concerning the REIT’s: 
  

			
	   i.	 	research activities and plans,
	  ii.	 	marketing or sales plans,
	 iii.	 	operational techniques,
	 iv.	 	supplier lists, and
	  v.	 	strategic plans;

  
 (b) unpublished
financial information, including unpublished information concerning revenues, profits and profit margins; 
  
 (c) internal confidential manuals; and 
  
 (d) any “material inside information” as such phrase is used for purposes of the Securities Exchange Act of 1934, as amended; 
  
 all constitute valuable, special and unique proprietary and trade secret information of the
REIT. In recognition of this tact, the Employee agrees that the Employee will not disclose any such trade secrets or confidential or proprietary information (except (i) information which becomes publicly available without violation of this
Employment Agreement, (ii) information of which the Employee did not know and should not have known was disclosed to the Employee in violation of any other person’s confidentiality obligation, and (iii) disclosure required in connection with
any legal process), nor shall the Employee make use of any such information for the benefit of any person, firm, operation or other entity except the REIT and its subsidiaries or affiliates. The Employee’s obligation to keep all of such
information confidential shall be in effect during and for a period of five (5) years after the termination of his employment; provided, however, that the Employee will keep confidential and will not disclose ~any trade secret or similar information
protected under law as intangible property (subject to the same exceptions set forth in the parenthetical clause above) for so long as such protection under law is extended. 
  
 10.    Termination. 
  
 (a)    The Employee’s employment with the REIT may be terminated at any time as
follows: 
  
 (i)    By the Employee at his
discretion, upon ninety (90) days written notice to REIT; 
  
 (ii)    By Employee’s death; 
  
 (iii)    By Employee’s physical or mental disability which renders Employee unable to perform his duties hereunder. 
  
 (iv)    By the REIT, for cause upon three (3) days written notice to Employee. For purposes of this Agreement, the term
“Cause” shall mean termination upon: (i) the failure by Employee to substantially perform his direct duties and responsibilities with the REIT; (ii) the engaging by Employee in conduct which is materially injurious to the REIT, monetarily
or otherwise, including but not limited to any material or repetitious misrepresentation related to the performance of his duties, including, but not limited to reporting and/or communicating misinformation to the Chief Executive Officer or the
Board of Directors and/or failing to report and/or communicate material information to the Chief Executive Officer or the Board of Directors; (iii) the conviction of Employee of a felony or other crime involving theft or fraud, (iv) Employee’s
neglect or misconduct in carrying out his duties hereunder resulting, in either case, in material harm to the REIT;(v) insubordination; (vi) demonstrably willful and deliberate act, or failure to act committed in bad faith, without reasonable belief
that such action or inaction is in the best 
  

 4 

 
interest of the REIT, which causes material harm to the REIT ; and (vii) any material breach by Employee of this Agreement. 
  
 (v)    By the Chief Executive Officer or Board of
Directors without cause. 
  
 (b)    Compensation upon Termination: 
  
 (i)    In the event of termination of employment, the Employee or his estate, in the event of death, shall be entitled to his annual base salary and other benefits provided hereunder to the date of his termination. If
applicable, Employee or his estate shall be entitled to receive any restricted stock awarded that is deemed vested as of the date of such termination of employment as a result of Employee’s death, 
  
 (ii)    In the event the REIT terminates
Employee’s employment hereunder without Cause pursuant to paragraph 10(a)(v), Employee shall continue to receive his base annual salary compensation, then in effect, for a period of twelve (12) months commencing on the date of said termination,
provided he is not employed by a competitor or otherwise in breach of this Agreement. Payment of such base compensation shall be made in the ordinary course of the REIT’s business in accordance with its usual and customary payroll practices.
Employee shall also be entitled to any restricted stock awarded to him by the REIT hereunder, which is deemed vested as of the date of Employee’s termination. Any restricted stock that has not otherwise vested as of the date of Employee’s
termination shall be forfeited and Employee shall have no right, interest or claim to same. 
  
 (iii)    In the event Employee terminates this Agreement prior to the end of the initial term or during any renewal term hereof, Employee shall forfeit and waive his right to any compensation
provided to him hereunder which is not deemed due and undisputed, earned and/or vested as of the date of such termination, including any stock options, restricted and/or performance stock. 
  
 (iii)    In the event the REIT terminates
Employee’s employment hereunder for Cause pursuant to Section 1 0(a)(iv), Employee shall be entitled to his annual base salary, any restricted or performance stock that is vested on the date upon which notice of termination for Cause is given
to Employee, and other benefits provided hereunder up to and through his date of termination only. In the event Employee’s employment hereunder is terminated for Cause, Employee shall forfeit any and all such restricted stock awarded to him
hereunder, which is not otherwise vested at the time of Employee’s termination for cause under section 1 0(a)(iv) and any right, interest or claim to such restricted stock by Employee shall be waived. 
  
 (iv)    If, during the Employment Period and within 12
months following a Change in Control, (to the extent employee is unaffiliated with and did not cause or cooperate to cause the event of change) the REIT (or its successor) terminates the Employee’s employment without Cause pursuant to Section
10(a) (v) or the Employee terminates his employment within 12 months following a Change in Control for Good Reason pursuant to Section 10 (d), or the employee is expected to relocate his home to a location which is more than 50 miles from the then
existing corporate headquarters location, the Employee shall be entitled to receive the following: 
  
 (1)    continued payment of his Base Salary, at the rate in effect on his last day of employment, for a period of 12 months (the
“Control Change Severance Payment”). The Control Change Severance Payment shall be paid in approximately equal installments on the REIT’s regularly scheduled payroll dates, subject to all legally required payroll deductions and
withholdings for sums owed by the Employee to the REIT; 
  
 (2)    continued payment by the REIT for the Employee’s life, health and disability insurance coverage during the 12 month severance period referenced in Section 6(a) and (c) to the same extent that the REIT paid
for such coverage immediately prior to the termination of the Employee’s employment and subject to the eligibility requirements and other terms and conditions of such insurance coverage, provided that if any such insurance coverage shall become
unavailable during the 12 

  

 5 

 
month severance period, the REIT thereafter shall be obligated only to pay to the Employee an amount which, after reduction for income and employment taxes,
is equal to the employer premiums for such insurance for the remainder of such severance period; 
  
 (3)    vesting as of the last day of his employment in any unvested portion of any stock option and any restricted stock previously
issued to the Employee by the REIT. 
  
 (4)    (A)    In the event that any Control Change Severance Payment, insurance benefits, accelerated vesting, pro-rated bonus or other benefit payable to the Employee (under this Agreement or
otherwise), shall (1) constitute “parachute payments” within the meaning of Section 280G (as it may be amended or replaced) of the Internal Revenue Code (the “Code”) (“Parachute Payments”) and (2) be subject to the
excise tax imposed by Section 4999 (as it may be amended or replaced) of the Code (the “Excise Tax”), then the REIT shall pay to the Employee an additional amount (the “Gross-Up Amount”) such that the net benefits retained by the
Employee after the deduction of the Excise Tax (including interest and penalties) upon the Gross-Up Amount shall be equal to the benefits that would have been delivered hereunder had the Excise Tax not been applicable and the Gross-Up Amount not
been paid. The calculation of such gross up amount shall be provided by the accountant at the time of the event of change. 
  
 None of the benefits described in this Section 10(b) will be payable unless the Employee has signed a general release which has become irrevocable, satisfactory to the
REIT in the reasonable exercise of its discretion, releasing the REIT and its affiliates and their respective officers, directors and employees, from any and all claims or potential claims arising from or related to the Employee’s employment or
termination of employment. 
  
 (C)    For purposes of this
Agreement, a “Change in Control” shall mean any of the following events: 
  
 (i)    The ownership or acquisition (whether by a merger contemplated by Section 10(c)(ii) 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 REIT’s outstanding common stock (the “Common Stock”) or (2) the combined voting power of the REIT’s
outstanding securities entitled to vote generally in the election of directors (the “Outstanding Voting Securities”); 
  
 (ii)    The merger or consolidation of the REIT 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 10(C)(ii), 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; 
  
 (iii)    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 REIT; 
  

 6 

 (iv)    A Change in Control shall also be deemed to have occurred immediately before
the completion of a tender offer for the REIT’s securities representing more than fifty percent (50%) of the Outstanding Voting Securities, other than a tender offer by a Qualified Affiliate. 
  
 (v)    For purposes of this Agreement, the following
definitions shall apply: 
  
 (1)    “Beneficial Ownership,” “Beneficially Owned” and “Beneficially Owns” shall have the meanings provided in Exchange Act Rule 13d-3; 
  
 (2)    “Exchange Act” shall mean the
Securities Exchange Act of 1934, as amended; 
  
 (3)    “Person” shall mean any individual, entity, or group (within the meaning of Section 13(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 REIT’s securities; and 
  
 (4)    “Qualified Affiliate” shall mean (i) any directly or indirectly wholly owned subsidiary of the REIT, (ii) any employee benefit plan (or related trust) sponsored or maintained by
the REIT or by any entity controlled by the REIT; 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 REIT’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 REIT as indicated in its most recent securities filing made before the date of the transaction. 
  
 (d)    Within 12 months of a Change of Control the Employee may terminate his employment under this Agreement at any
time for Good Reason, upon written notice by the Employee to the REIT. For purposes of this Section 10(b) (iv) and 10(d), “Good Reason” for termination shall mean, without the Employee’s consent: (i) the assignment to the Employee of
substantial duties or responsibilities inconsistent with the Employee’s position at the REIT, or any other action by the Chief Executive Officer or the Board which results in a substantial diminution of the Employee’s duties or
responsibilities other than any such reduction which is remedied by the REIT within 30 days of receipt of written notice thereof from the Employee; or (ii) a substantial reduction in the Employee’s aggregate Base Salary and other compensation
taken as a whole, excluding any reductions caused by the failure to achieve directed responsibilities or performance targets. 
  
 11.    Payments. to Extend Covenant Not to Compete of Employee. In the event the REIT does not renew this Agreement upon the
expiration of the initial term of this Agreement or any renewal term, the REIT shall have the option to pay Employee an amount equal to his base annual salary that was in effect prior to such non-renewal of his Employment Agreement in twelve (12)
consecutive equal monthly installments commencing thirty (30) days after the date of termination of employment in consideration for Employee not competing with the REIT for a period of twelve (12) months from the date of the termination of his
employment for any of the reasons set forth above, as applicable. 
  
 12.    Disability. In the event that Employee becomes temporarily disabled and/or totally and permanently disabled, physically or mentally, which renders him unable to perform his duties hereunder, Employee shall
receive one hundred percent (100%) of his base annual salary (in effect at the time of such disability) for a period of one (1) year following the initial date of such disability (offset by any payments to the Employee received pursuant to
disability benefit plans, if any, maintained by the REIT.) Such payments shall be payable in twelve consecutive equal monthly installments and shall commence thirty (30) days after the determination by the physicians of such disability as set forth
below. 
  

 7 

 For purposes of this Agreement, Employee shall be deemed to be temporarily disabled and/or totally and
permanently disabled if attested to by two qualified physicians, (one to be selected by REIT and the other by Employee) competent to give opinions in the area of the disabled Employee’s physical and/or mental condition. If the two physicians
disagree, they shall select a third physician, whose opinion shall control. Employee shall be deemed to be temporarily disabled and/or totally and permanently disabled if he shall become disabled as a result of any medically determinable impairment
of mind or body which renders it impossible for such Employee to perform satisfactorily his duties hereunder, and the qualified physician(s) referred to above certify that such disability does, in fact, exist. The opinion of the qualified
physician(s) shall be given by such physician(s), in writing directed to the REIT and to Employee. The physician(s) decision shall include the date that disability began, if possible, and the 12th month of such disability, if possible. The decision
of such physician(s) shall be final and conclusive and the cost of such examination shall be paid by the REIT. 
  
 13.    Severability. In case any one (1) or more of the provisions or part of a provision contained in this Agreement
shall be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision of this Agreement. In such a situation, this Agreement shall be
reformed and construed as if such invalid, illegal or unenforceable provision, or part of a provision, had never been contained herein, and such provision or part shall be reformed so that it will be valid, legal and enforceable to the maximum
extent possible. 
  
 14.    Governing
Law. This Agreement shall be governed and construed under the laws of the State of Kentucky and shall not be modified or discharged, in whole or in part, except by an agreement in writing signed by the parties. 
  
 15.    Notices. All notices, requests, demands and
other communications relating to this Agreement shall be in writing and shall be deemed to have been duly given if delivered personally or mailed by certified or registered mail, return receipt requested, postage prepaid: 
  

			
	 If to REIT, to:
	  	Eagle Hospitality Properties Trust, Inc.
	 	  	Attention: Chief Executive Officer
	 	  	100 East RiverCenter Boulevard, Suite 480
	 	  	Covington, KY 41011
		
	 With a copy to:
	  	

		
	 	  	

		
	 	  	

  
 If to Employee, to the
Employee’s residential address, as set forth in the REIT’s records, 
  
 16.    Enforcement of Rights. The parties expressly recognize that any breach of this Agreement by either party is likely to result in irrevocable injury to the other party and agree that
such other party shall be entitled, if it Co elects, to institute and prosecute proceedings in any court of competent jurisdiction, either in law or in equity, to obtain damages for any breach of this Agreement, or to enforce the specific
performance of this Agreement by each party or to enjoin any party from activities in violation of this Agreement. Should either party engage in any activities prohibited by this Agreement, such party agrees to pay over to the other party all
compensation, remuneration, monies or property of any sort received in connection with such activities. Such payment shall not impair any rights or remedies of any non-breaching party or obligations or liabilities of any breaching party pursuant to
this Agreement or any applicable law. 
  
 17.    Entire Agreement, This Agreement contains the entire understanding of the parties with respect to the subject matter contained herein and may be altered, amended or superseded only by an agreement in
writing, signed by the party against whom enforcement of any waiver, change, modification, extension or discharge is sought. 
  
 18.    Parties in Interest. This Agreement shall inure to the benefit and shall be binding upon the 

  

 8 

 
REIT, the Employee, and their respective successors, assigns and heirs. The rights of Employee under this Agreement shall not be assignable. The REIT,
however, reserves the right to assign this Agreement, without Employee’s consent. Any assignee of the REIT shall be entitled to all rights and benefits of The REIT contained in this Agreement and shall also be required to perform any and all
duties, responsibilities and obligations to Employee as prescribed hereunder, 
  
 19.    Representation of Employee, Employee represents and warrants that he is not party to or bound by any agreement or contract or subject to any restrictions including without limitation
any restriction imposed in connection with previous employment which prevents Employee from entering into and performing his obligations under this Agreement. 
  

20.    Prior Agreement. This Agreement shall supersede and cancel any previous agreement entered into by and between the
Employee and the RE1T regarding the subject matter. 
  
 IN WITNESS
WHEREOF, this Agreement has been executed effective as of the day and year first above written. 
  
  

			
	Eagle Hospitality Properties Trust, Inc.
		
	By:	 	 
		
	 Name:
	 	

	 Title
	 	 
	
	
 Thomas A. Frederick

  

 9

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