Document:

EX-10.1

 Exhibit 10.1 
 January 5, 2016 
 [Executive Name 
 Executive Home Address 
 Executive Home Address] 

Dear [Executive]: 
 Reference is made to the
Employment Agreement dated as of November 1, 2004, as amended in a letter amendment dated as of December 23, 2008, between you and AEP Industries Inc. (the “Employment Agreement”), and which is hereby further
amended as provided below. Capitalized terms used but not defined in this letter shall have the meaning specified in the Employment Agreement. 
  

	 	1.	The pre-amble (first paragraph) of the Employment Agreement shall be deleted and replaced with the following paragraph: 

 

	 	  	This Employment Agreement, dated May 9, 2005, (and amended in letter amendments dated December 23, 2008 and January 5, 2016), by and between AEP
Industries Inc., a Delaware corporation having its offices at 95 Chestnut Ridge Road, Montvale, New Jersey 07645 (the “Company”), and Executive Name (the “Executive”), presently residing at Executive
Home Address, is entered into and shall be effective as of November 1, 2004 (the “Effective Date”.) 

  

	 	2.	The following language in Section 4(a)(i) shall be deleted: “[Q: change re: termination by the Company without Cause, e.g. downsize]”.

  

	 	3.	The following language in Section 4(b) shall be deleted: “[Company Policy must be written]”. 

 

	 	4.	The following language in Section 10(e) shall be deleted: “[Q-add: except that Executive shall be entitled to be reimbursed for his reasonable legal fees if
he is successful in enforcing the provisions requiring payment by the Company.]” 

 [Executive Name] 
 January 5, 2016 
 Page Two 

 

	 	5.	The second paragraph of Section 10(g) shall be deleted and replaced with the following paragraph: 

If to the Company, to: 
 AEP Industries Inc. 
 95 Chestnut Ridge Road, 

Montvale, NJ 07645 
 Facsimile: (201) 807-6801 
 Attention: Paul M. Feeney

 Executive Vice President, Finance and Chief Financial Officer 

With a copy (which shall not constitute notice) to: 

Honigman Miller Schwartz and Cohn LLP 

660 Woodward Avenue, 
 2290 First National Building, 
 Detroit, MI 48226-3506 

Facsimile: (313) 465-7317 
 Attention: Michael S. Ben, Esq. 
 If to the Executive, to
Executive’s address set forth on the revised ‘Exhibit A’ signature page hereto. 
  

	 	6.	‘EXHIBIT A, Executive Data Sheet for Signature Page’ shall be deleted and replaced with the attached ‘EXHIBIT A, Executive Data Sheet for Signature Page,
Revised January 5, 2016 

 The Employment Agreement, as hereby amended, shall remain in full force and effect. 

 

			
	Very truly yours,
	
	AEP Industries Inc.
		
	By:	 	 
	
	Its:

  

	
	The Above is Agreed to
	And Accepted:
	
	 
	[Executive Name]Exhibit 4.1

 

	
6.950% Series E   Cumulative Redeemable

Preferred Stock, Par   Value $0.01

 

Number

PR E-

 

INCORPORATED UNDER THE   LAWS OF THE

STATE OF MARYLAND

 
    	

    	
6.950%   Series E Cumulative Redeemable

Preferred Stock,   Par Value $0.01

 

Shares

 

 

CUSIP 867892 606 

SEE REVERSE FOR   IMPORTANT NOTICE ON 

TRANSFER   RESTRICTIONS AND

OTHER INFORMATION
    

 

FULLY PAID AND NONASSESSABLE SHARES OF 6.950% SERIES E CUMULATIVE REDEEMABLE PREFERRED STOCK, $0.01 PAR VALUE PER SHARE OF

 

SUNSTONE HOTEL INVESTORS, INC.

 

(the “Corporation”) transferable on the books of the Corporation by the holder hereof in person or by its duly authorized attorney upon the surrender of this certificates properly endorsed. This Certificate and the shares represented hereby are issued and shall be held subject to all of the provisions of the charter of the Corporation (the “Charter”) and the Bylaws of the Corporation and any amendments thereto. This certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar.

 

WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers.

 

	
[SEAL]     Dated:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Secretary
    	
 
    	
President
    

 

COUNTERSIGNED AND REGISTERED:

AMERICAN STOCK TRANSFER & TRUST COMPANY

TRANSFER AGENT AND REGISTRAR,

 

	
BY
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
AUTHORIZED SIGNATURE
    	
 
    

 

 

SUNSTONE HOTEL INVESTORS, INC.

 

IMPORTANT NOTICE

CLASSES OF STOCK

 

THE CORPORATION WILL FURNISH TO ANY STOCKHOLDER, ON REQUEST AND WITHOUT CHARGE, A FULL STATEMENT OF THE INFORMATION REQUIRED BY SECTION 2-211(B) OF THE CORPORATIONS AND ASSOCIATIONS ARTICLE OF THE ANNOTATED CODE OF MARYLAND WITH RESPECT TO THE DESIGNATIONS AND ANY PREFERENCES, CONVERSION AND OTHER RIGHTS, VOTING POWERS, RESTRICTIONS, LIMITATIONS AS TO DIVIDENDS AND OTHER DISTRIBUTIONS, QUALIFICATIONS, AND TERMS AND CONDITIONS OF REDEMPTION OF THE STOCK OF EACH CLASS WHICH THE CORPORATION HAS AUTHORITY TO ISSUE AND, IF THE CORPORATION IS AUTHORIZED TO ISSUE ANY PREFERRED OR SPECIAL CLASS IN SERIES, (I) THE DIFFERENCES IN THE RELATIVE RIGHTS AND PREFERENCES BETWEEN THE SHARES OF EACH SERIES TO THE EXTENT SET, AND (II) THE AUTHORITY OF THE BOARD TO SET SUCH RIGHTS AND PREFERENCES OF SUBSEQUENT SERIES.  THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY ARE ISSUED AND SHALL BE HELD SUBJECT TO ALL THE PROVISIONS OF THE CHARTER AND BYLAWS (COPIES OF WHICH MAY BE OBTAINED FROM THE SECRETARY OF THE CORPORATION), TO ALL OF WHICH THE HOLDER OF THIS CERTIFICATE BY ACCEPTANCE HEREOF ASSENTS.

 

RESTRICTION ON OWNERSHIP AND TRANSFER

 

THE SHARES OF SERIES E PREFERRED STOCK REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON BENEFICIAL AND CONSTRUCTIVE OWNERSHIP AND TRANSFER FOR THE PURPOSE OF THE CORPORATION’S MAINTENANCE OF ITS STATUS AS A REAL ESTATE INVESTMENT TRUST UNDER THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”).  SUBJECT TO CERTAIN FURTHER RESTRICTIONS CONTAINED IN THE CHARTER AND EXCEPT AS EXPRESSLY PROVIDED IN THE ARTICLES SUPPLEMENTARY FOR THE SERIES E PREFERRED STOCK, (i) NO ONE PERSON MAY BENEFICIALLY OWN SHARES OF THE CORPORATION’S SERIES E PREFERRED STOCK IN EXCESS OF 9.8% (BY VALUE OR BY NUMBER OF SHARES, WHICHEVER IS MORE RESTRICTIVE) OF THE OUTSTANDING SERIES E PREFERRED STOCK OF THE CORPORATION; (ii) NO ONE PERSON MAY CONSTRUCTIVELY OWN SHARES OF THE CORPORATION’S SERIES E PREFERRED STOCK IN EXCESS OF 9.8% (BY VALUE OR BY NUMBER OF SHARES, WHICHEVER IS MORE RESTRICTIVE) OF THE OUTSTANDING SERIES E PREFERRED STOCK OF THE CORPORATION; (iii) NO ONE PERSON MAY BENEFICIALLY OR CONSTRUCTIVELY OWN SERIES E PREFERRED STOCK THAT, TAKING INTO ACCOUNT ANY OTHER CAPITAL STOCK OF THE CORPORATION BENEFICIALLY OR CONSTRUCTIVELY OWNED BY SUCH PERSON, WOULD RESULT IN THE CORPORATION BEING “CLOSELY HELD” UNDER SECTION 856(h) OF THE CODE OR OTHERWISE CAUSE THE CORPORATION TO FAIL TO QUALIFY AS A REIT; AND (iv) NO PERSON MAY TRANSFER SERIES E PREFERRED STOCK IF SUCH TRANSFER WOULD RESULT IN THE CAPITAL STOCK OF THE CORPORATION BEING OWNED BY FEWER THAN 100 PERSONS.  NO PERSON MAY BENEFICIALLY OR CONSTRUCTIVELY OWN SHARES OF CAPITAL STOCK OF THE CORPORATION IN EXCESS OF 9.8% OF THE VALUE OF THE TOTAL OUTSTANDING SHARES OF CAPITAL STOCK OF THE CORPORATION, UNLESS SUCH PERSON IS AN EXCEPTED HOLDER (AS DEFINED IN THE CHARTER) (IN WHICH CASE THE EXCEPTED HOLDER LIMIT SHALL BE APPLICABLE).  ANY PERSON WHO BENEFICIALLY OR CONSTRUCTIVELY OWNS OR ATTEMPTS TO BENEFICIALLY OR CONSTRUCTIVELY OWN SERIES E PREFERRED STOCK WHICH CAUSES OR WILL CAUSE A PERSON TO BENEFICIALLY OR CONSTRUCTIVELY OWN SERIES E PREFERRED STOCK IN EXCESS OF THE ABOVE LIMITATIONS MUST IMMEDIATELY NOTIFY THE CORPORATION.  IF ANY OF THE RESTRICTIONS ON TRANSFER OR OWNERSHIP ARE VIOLATED, THE SERIES E PREFERRED STOCK REPRESENTED HEREBY IN EXCESS OF SUCH RESTRICTIONS WILL BE AUTOMATICALLY TRANSFERRED TO THE TRUSTEE OF A TRUST FOR THE BENEFIT OF ONE OR MORE CHARITABLE BENEFICIARIES.  IN ADDITION, THE CORPORATION MAY REDEEM SHARES UPON THE TERMS AND CONDITIONS SPECIFIED BY THE BOARD OF DIRECTORS IN ITS SOLE DISCRETION IF THE BOARD OF DIRECTORS DETERMINES THAT OWNERSHIP OR A TRANSFER OR OTHER EVENT MAY VIOLATE THE RESTRICTIONS DESCRIBED ABOVE.  FURTHERMORE, UPON THE OCCURRENCE OF CERTAIN EVENTS, ATTEMPTED TRANSFERS IN VIOLATION OF THE RESTRICTIONS DESCRIBED ABOVE MAY BE VOID AB INITIO.  ALL TERMS IN THIS LEGEND WHICH ARE DEFINED IN THE ARTICLES SUPPLEMENTARY FOR THE SERIES E PREFERRED STOCK SHALL HAVE THE MEANINGS ASCRIBED TO THEM IN SUCH ARTICLES SUPPLEMENTARY, AS THE SAME MAY BE AMENDED FROM TIME TO TIME, A COPY OF WHICH, INCLUDING THE RESTRICTIONS ON TRANSFER AND OWNERSHIP, WILL BE FURNISHED TO EACH HOLDER OF SERIES E PREFERRED STOCK ON REQUEST AND WITHOUT CHARGE.  REQUESTS FOR SUCH A COPY MAY BE DIRECTED TO THE SECRETARY OF THE CORPORATION AT ITS PRINCIPAL OFFICE.

 

 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
TEN COM-
    	
  
    	
as tenants in common
    	
  
    	
UNIF GIFT MIN ACT-                                         
    	
  
    	
Custodian                                         
    
	
 

TEN ENT-
    	
  
    	
 

as tenants by the   entireties
    	
  
    	
                                                         (Cust)
    	
  
    	
                                (Minor)
    
	
 
    	
 
    	
 
    
	
        JT TEN-
    	
  
    	
as joint tenants with   right

of survivorship and not   as

tenants in common
    	
  
    	
                                               under Uniform Gifts to Minors
    
	
 
    	
  
    	
 
    	
  
    	
                                               Act                                                                                                           
    
	
 
    	
  
    	
 
    	
  
    	
(State)
    
	
 
    	
  
    	
 
    	
  
    	
UNIF TRF MIN ACT-                                           
    	
  
    	
Custodian (until age                )
    
	
 
    	
  
    	
 
    	
  
    	
                                                         (Cust)
    	
  
    	
 
    
	
 
    	
  
    	
 
    	
  
    	
                                                                                                                under Uniform Transfers
    
	
 
    	
  
    	
 
    	
  
    	
                                                                   (Minor)
    
	
 
    	
 
    	
 
    
	
 
    	
  
    	
 
    	
  
    	
                                               to Minors Act                                                                    
    
	
 
    	
  
    	
 
    	
  
    	
                                                                                                      (State)
    
	
 

Additional   abbreviations may also be used though not in the above list.
    
	
 
    
	
For Value   received,                                                                                                                          hereby sell, assign and transfer unto
    
	
 
    

PLEASE INSERT   SOCIAL SECURITY OR

OTHER IDENTIFYING NUMBER   OF ASSIGNEE

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