Document:

EX-10.8

 Exhibit 10.8 

Xenia Hotels & Resorts, Inc. 

2014 Share Unit Plan 

SECTION 1. Purpose. The purpose of this Xenia Hotels & Resorts, Inc. (the “Company”) Share Unit Plan (this
“Plan”) is to enable the Company to attract and retain highly qualified personnel who will contribute to the Company’s success and to provide incentives to Participants that are linked directly to increases in the value of the
Company. 
 SECTION 2. Definitions. For the purposes of this Plan and any Award Agreement, the following terms shall have the
meanings set forth below: 
 “Administrator” shall mean the Board or any committee of the Board that has been authorized to
administer one or more elements of this Plan. 
 “Affiliate” means any domestic or foreign individual, partnership,
corporation, limited liability company, association, joint stock company, trust, joint venture, unincorporated organization or governmental entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is
under common control with, the Company. 
 “Award” shall mean any award of Share Units granted under this Plan. 

“Award Agreement” shall mean any written agreement, contract, or other instrument or document (which may include provisions
of an employment agreement to which the Company is a party) evidencing any Award granted hereunder. 
 “Board” shall mean
the board of directors of Inland REIT prior to a Triggering Event and the board of directors of the Company or its successor on and after a Triggering Event. 

“Cause” shall have the meaning set forth under an applicable employment agreement between a Participant and the Company or an
Affiliate of the Company, provided that if no such definition is applicable, such term shall mean (i) the willful fraud or material dishonesty of a Participant in connection with the performance of Participant’s duties to the Company or
its Affiliates; (ii) the deliberate or intentional failure by a Participant to substantially perform Participant’s duties to the Company or its Affiliates (other than the Participant’s failure resulting from his incapacity due to
physical or mental illness) after a written notice is delivered to the Participant by the Company, which demand specifically identifies the manner in which the Company believes the Participant has not substantially performed his duties;
(iii) willful misconduct by a Participant that is materially detrimental to the reputation, goodwill or business operations of the Company or any Affiliate; (iv) willful disclosure of the Company’s confidential Information or trade
secrets; (v) a material breach of the terms of this Plan or an applicable Award Agreement; or (vi) the conviction of, or plea of nolo contendere to a charge of commission of a felony or crime of moral turpitude by a Participant. For
purposes of this definition, no act or failure to act will be considered “willful,” unless it is done or omitted to be done, by the Participant in bad faith or without reasonable belief that the Participant’s action or omission was in
the best interests of the Company and its Affiliates. 

 “Change in Control” shall mean the first to occur of any of the events set forth
in the following paragraphs; provided, however, that a Qualified Event shall not constitute a Change in Control: (i) any “person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934
(the “Exchange Act”), other than the Company or an Affiliate thereof or a Company or Inland REIT employee benefit plan, including any trustee of such plan acting as trustee, is or becomes the “beneficial owner” (as defined
in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company or Inland REIT representing thirty percent (30%) or more of the combined voting power of the Company’s or Inland REIT’s, as applicable, then
outstanding securities entitled to vote generally in the election of directors; (ii) a merger, reverse merger or other business combination or consolidation of the Company or Inland REIT or any direct or indirect subsidiary of the Company or
Inland REIT, as applicable with any other corporation other than an Affiliate of the Company, other than a merger or consolidation which would result in the voting securities of the Company or Inland REIT, as applicable outstanding immediately prior
thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or
Inland REIT, as applicable, or such surviving entity outstanding immediately after such merger, reverse merger, business combination or consolidation; (iii) a majority of the members of the Board in effect at the time of a Qualified Event is
replaced during any 12 month period after the Qualified Event by directors whose appointment or election is not endorsed by a majority of the Board prior to the date of the appointment or election; or (iv) a person (or group), other than an
Affiliate of the Company, acquires (or has acquired, during a 12-month period), assets that have a total gross fair market value of forty percent (40%) or more of the total gross fair market value of all assets of the Company immediately prior
to such acquisition. 
 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, or any successor
thereto. 
 “Effective Date” shall mean September 17, 2014, which is the date on which this Plan was adopted by the
Board. 
 “Eligible Recipient” shall mean an officer, employee, any director or consultant of the Company or of any
Affiliate or Subsidiary. 
 “Fair Market Value” means, as of any particular date, the value of the Share Units or Shares as
determined by the Board in good faith, provided that (i) prior to a Qualified Event, “Fair Market Value” of a Share or Share Unit shall be determined by reference to the valuation performed by Real Globe Advisors, LLC (“Real
Globe”) as of December 31, 2013, or such other subsequent similar valuation report performed by Real Globe or other third party advisory firm engaged by the Board to estimate the value of a Share Unit or Share on a fully diluted basis,
using methodologies and assumptions substantially similar to those used in prior valuations and (ii) if Shares are admitted to trading on the New York Stock Exchange, NASDAQ or on any other nationally recognized stock exchange, “Fair
Market Value” of a Share on any such date shall be the closing price reported for such Share on such exchange on the last date preceding such date on which a sale was reported. 

“Inland REIT” shall mean Inland American Real Estate Trust, Inc. 

  
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 “Participant” shall mean any Eligible Recipient selected by the Administrator to
receive an Award under this Plan. 
 “Qualified Event” means any of the following: (i) a straight listing of Shares on
the New York Stock Exchange, NASDAQ or on any other nationally recognized stock exchange; (ii) an underwritten public offering of Shares pursuant to an effective registration statement under the Securities Act of 1933, as amended from time to
time, which Shares are approved for listing or quotation on the New York Stock Exchange, NASDAQ or on any other nationally recognized stock exchange; or (iii) a reverse merger of the Company into an existing publicly held company or its
acquisition subsidiary, resulting in the Shares first becoming listed on the New York Stock Exchange, NASDAQ or on any other nationally recognized stock exchange. 

“Share Units” means notional units of the Company, which prior to any issuance of any Shares upon the vesting of a Share
Unit, a Share Unit shall not comprise or convey to any Participant any right, title or interest in actual ownership of the Company or any Shares. 

“Shares” shall mean shares of common stock of the Company and any successor security or interest. 

“Subsidiary” shall mean any entity that, directly or indirectly, is controlled by the Company. 

“Triggering Event” means the first occurrence after the date an Award is granted of a Change in Control or a Qualified Event.

 SECTION 3. Share Unit Pool. A pool of units shall exist consisting of “Share Units.” Share Units shall represent the
right to receive a cash payment from the Company in an amount equal to the Fair Market Value of a Share Unit on the date or dates as set forth in this Plan or an applicable Award Agreement, provided that an Award of Share Units may be settled in
Shares as set forth in Section 6 and under the terms of an applicable Award Agreement. The pool of Share Units shall initially be 241,298,214 Share Units but may be increased in the discretion of the Board at any time. 

SECTION 4. Administration. 

(a) This Plan shall be administered by the Administrator, which shall have full power and authority to: (i) designate
those Eligible Recipients who shall be Participants; (ii) determine whether and the extent to which Awards are to be granted to Participants under this Plan; (iii) determine the number of Share Units to be covered by an Award;
(iv) determine the terms and conditions, not inconsistent with the terms of this Plan, of any Award; (v) determine the terms and conditions, not inconsistent with the terms of this Plan, that shall govern all written instruments evidencing
Awards granted under this Plan, including Award Agreements; (vi) determine whether, to what extent, and under what circumstances Awards may be settled, exercised, canceled, forfeited, or suspended; (vii) interpret, administer, reconcile
any inconsistency, correct any default and/or supply any omission in this Plan and any instrument or agreement relating to an Award made under this Plan; (viii) establish, amend, suspend, or waive such rules and

  
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regulations and appoint such agents as it shall deem appropriate for the proper administration of this Plan; and (ix) make any other determination and take any other action that the
Administrator deems necessary or desirable for the administration of this Plan. 
 (b) All designations, determinations,
interpretations, and other decisions under or with respect to this Plan or any Award shall be within the sole discretion of the Administrator, may be made at any time and shall be final, conclusive, and binding upon all persons, including the
Company, any Subsidiary, any Participant, any holder or beneficiary of any Award, and any member of the Company. 
 SECTION 5.
Eligibility. The Participants under the Plan shall be selected from time to time by the Administrator, in its sole discretion, from among the Eligible Recipients. The Administrator shall have the authority to grant Awards under this Plan to
the Eligible Recipients. 
 SECTION 6. Awards. 

(a) Grant. An Award of Share Units granted pursuant to this Plan shall be subject to vesting and other terms and
conditions of this Plan as well as to the terms of any Award Agreement entered into with the Participant applicable to the Award. 

(b) Vesting; Settlement. Awards of Share Units shall vest and become payable in accordance with the terms set forth in
the applicable Award Agreement. Awards of Share Units may be settled in cash or in Shares, as set forth in an applicable Award Agreement. 

(c) Restrictions on Transfer. None of the Share Units granted under this Plan, or any Participant’s rights with
respect to such Share Units, shall be sold, assigned, transferred, pledged, hypothecated, given away or in any other manner disposed of, encumbered, whether voluntarily or involuntarily, or by operation of law or otherwise (each such action a
“Transfer”). Unless the Company determines otherwise, any attempted Transfer of Share Units shall be null and void, and the Company shall not reflect on its records any change in ownership of any Share Units as a result of any such
Transfer, shall otherwise refuse to recognize any such Transfer and shall not in any way give effect to any such Transfer of any Share Units. Any Award of Share Units shall be personal to the Participant, non-assignable and not transferable in any
manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. 
 (d) Rights of
Stockholders. Unless otherwise provided in an Award Agreement, a Participant awarded Share Units will have no rights of a stockholder unless and until Shares are issued to the Participant upon vesting and settlement of the Award of Share Units.

 (e) Dividend Equivalents. Participants shall be entitled to accrue dividend equivalents with respect to any Award
granted under this Plan solely to the extent provided under the terms of an Award Agreement governing an Award. 

  
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 (f) Adjustments. Notwithstanding anything to the contrary in this Plan or
any Award Agreement, the number of Share Units granted to a Participant as set forth under an Award Agreement shall be subject to adjustments as determined necessary by the Board to prevent dilution or enlargement of value as a result of
intercompany transfers of cash, assets or debt between the Company and one or more of its Affiliates for no consideration or other such similar transactions. In the event of any change in the outstanding Share Units or Shares after the Effective
Date by reason of any equity dividend or split, reorganization, recapitalization, merger, consolidation, spin-off, combination or transaction or exchange of Shares or Share Units or other corporate exchange, or any distribution to stockholders of
equity or cash (other than regular cash distributions) or any transaction similar to the foregoing (regardless of whether outstanding Shares are changed), the Administrator in its sole discretion and without liability to any Person shall make such
substitution or adjustment, if any, as it deems to be equitable, as to (i) the aggregate number of Share Units in the pool set forth in Section 3, (ii) the number of Shares that could become payable in respect of Share Units available
under this Plan as set forth in this Plan and applicable Award Agreements, (ii) the number or kind of Shares or Share Units or other securities (or other property, including cash) that may be subject to Awards granted under this Plan,
(iii) the vesting terms under any Award Agreement, and/or (v) any other affected terms of any Award. Other substitutions or adjustments in connection with an event or series of events listed in this paragraph may be made by the
Administrator as determined by the Administrator in its sole discretion. 
 (g) Restrictive Covenants. The terms of
any Award Agreement may require a Participant to comply with certain confidentiality or other restrictive covenants as a condition to the grant of any Award under this Plan. 

SECTION 7. Parachute Payment Limitations. Notwithstanding anything to the contrary contained in this Plan (or any other agreement
entered into by and between any Participant and the Company or any incentive arrangement or plan offered by the Company), in the event that any amount or benefit paid or distributed to any Participant pursuant to this Plan or any Award Agreement,
taken together with any other amounts or benefits paid to the Participant by the Company (collectively, the “Covered Payments”), would constitute an “excess parachute payment” as defined in Section 280G of the
Internal Revenue Code of 1986, as amended (the “Code”), and would thereby subject the Participant to an excise tax under Section 4999 of the Code (an “Excise Tax”), the provisions of this Section 7 shall
apply. If the aggregate present value (as determined for purposes of Section 280G of the Code) of the Covered Payments exceeds the amount which can be paid to the Participant without the Participant incurring an Excise Tax, then, solely to the
extent that the Participant would be better off on an after tax basis by receiving the maximum amount which may be paid hereunder without the Participant becoming subject to the Excise Tax, as determined by the Participant in his sole discretion,
the amounts payable to the Participant under this Plan (or any other agreement by and between a Participant and the Company or pursuant to any incentive arrangement or plan offered by the Company) shall be reduced (but not below zero) to the maximum
amount which may be paid hereunder without the Participant becoming subject to the Excise Tax (such reduced payments to be referred to as the “Payment Cap”). In the event the Participant receives reduced payments and

  
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benefits as a result of application of this Section 7, the Participant shall have the right to designate which of the payments and benefits otherwise set forth herein (or any other agreement
between the Company and the Participant or any incentive arrangement or plan offered by the Company) shall be received in connection with the application of the Payment Cap, subject to the following sentence. Reduction shall first be made from
payments and benefits which are determined not to be nonqualified deferred compensation for purposes of Section 409A of the Code, and then shall be made (to the extent necessary) out of payments and benefits that are subject to
Section 409A of the Code and that are due at the latest future date. 
 SECTION 8. Amendment and Termination. 

(a) Amendments to this Plan. The Administrator may amend, alter, or terminate this Plan or any portion thereof at any
time; provided that any such amendment, alteration, or termination that would be reasonably expected to have a material adverse effect on the rights of any Participant or other holder of an Award theretofore granted shall not to that extent
be effective without the consent of the affected Participant. 
 (b) Amendments to Awards. The Administrator may waive
any conditions or rights under, amend any terms of, or alter, cancel or terminate, any Award theretofore granted, prospectively or retroactively; provided that any such waiver, amendment, alteration, cancellation or termination not expressly
contemplated by this Plan that would be reasonably expected to have a material adverse effect on the rights of any outstanding Award shall not be effective without the consent of the affected Participant. 

SECTION 9. General Provisions. 

(a) No Rights to Awards. No person shall have any claim to be granted any Award, and there is no obligation for
uniformity of treatment of Participants or beneficiaries of Awards. The terms and conditions of Awards and the Administrator’s determinations and interpretations with respect thereto need not be the same with respect to each Participant
(whether or not such Participants are similarly situated). 
 (b) Certificates. To the extent Shares are delivered in
settlement of an Award, the Company shall either (i) issue a stock certificate in respect of such Shares, which certificate shall be registered in the name of the Participant; or (ii) enter such Award of Share Units in book entry form, in
such method as determined by the Administrator in its sole discretion. All certificates, if any, evidencing Shares delivered under this Plan shall be subject to such stop transfer orders and other restrictions as the Administrator may deem advisable
under this Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such securities are then listed, and any applicable Federal or state laws, and the Administrator may cause a
legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

  
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 (c) Withholding. A Participant may be required to pay to the Company or
any Subsidiary, and the Company or any Subsidiary shall have the right and is hereby authorized to withhold from any payment due or transfer made under any Award or under this Plan or from any compensation or other amount owing to a Participant the
amount (in cash, securities, or other property) of, any applicable withholding taxes in respect of an Award or any payment or transfer under an Award or under this Plan and to take such other action as may be necessary in the opinion of the Company
to satisfy all obligations for the payment of such taxes. 
 (d) Section 409A of the Code. It is the intent of
the parties that Awards under this Plan comply with, or be exempt from, Section 409A of the Code and, accordingly, to the maximum extent permitted, this Plan and any Award Agreement shall be interpreted and administered consistent with such
intent. Notwithstanding anything contained herein or in any Award Agreement to the contrary, to the extent required to avoid accelerated taxation or tax penalties under Section 409A of the Code, a Participant shall not be considered to have
terminated employment for purposes of this Plan or any Award with respect to Awards that become payable upon a Participant’s termination of employment until the Participant would be considered to have incurred a “separation from
service” from the Company within the meaning of Section 409A of the Code. In addition, each amount to be paid or benefit to be provided to a Participant pursuant to an Award shall be construed as a separate identified payment for purposes
of Section 409A of the Code and any payments that are due within the “short term deferral period” as defined in Section 409A of the Code shall not be treated as deferred compensation unless applicable law requires otherwise.
Notwithstanding anything contained herein to the contrary, if a Participant is a “specified employee,” as defined in Section 409A of the Code, as of the date of the Participant’s separation from service, then to the extent any
Award, or payment therefor (i) constitutes the payment of nonqualified deferred compensation, within the meaning of Section 409A of the Code, (ii) is payable upon the Participant’s separation from service and (iii) under the
terms of this Plan and any Award Agreement would be payable prior to the six-month anniversary of the Participant’s separation from service, settlement of such Award or the payment therefor shall be delayed until the earlier to occur of
(A) the six-month anniversary of the separation from service or (B) the date of the Participant’s death. 

(e) No Right to Employment. The grant of an Award shall not be construed as giving a Participant the right to be
retained in the employ of, or in any consulting relationship with, the Company or any Subsidiary. Further, the Company or a Subsidiary may at any time dismiss a Participant from employment or discontinue any consulting relationship, free from any
liability or any claim under this Plan, unless otherwise expressly provided in this Plan or in any Award Agreement. 
 (f)
Unfunded Status of this Plan. This Plan is intended to constitute an “unfunded” plan for incentive compensation. With respect to any payments not yet made to a Participant by the Company, nothing contained herein shall give any such
Participant any rights that are greater than those of a general unsecured creditor of the Company. 

  
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 (g) Governing Law. The validity, construction, and effect of this Plan
shall be determined in accordance with the laws of the State of Delaware applicable to contracts made and to be performed therein. 

(h) Severability. If any provision of this Plan or any Award is or becomes or is deemed to be invalid, illegal, or
unenforceable in any jurisdiction or as to any person or Award, or would disqualify this Plan or any Award under any law deemed applicable by the Administrator, such provision shall be construed or deemed amended to conform the applicable laws, or
if it cannot be construed or deemed amended without, in the determination of the Administrator, materially altering the intent of this Plan or the Award, such provision shall be stricken as to such jurisdiction, person or Award and the remainder of
this Plan and any such Award shall remain in full force and effect. 

  
 8EX-10.9

 Exhibit 10.9 

Xenia Hotels & Resorts, Inc. 

Share Unit Award Agreement 

This Share Unit Award Agreement (this “Award Agreement”), is made and entered into effective as of the Date of Grant (defined
below) by and between Xenia Hotels & Resorts, Inc. (the “Company”), and the participant named below (the “Participant”). Capitalized terms not defined herein shall have the meanings ascribed to them in the
Xenia Hotels & Resorts, Inc. 2014 Share Unit Plan (the “Plan”). Where the context permits, references to the Company shall include any successor to the Company. 

Name of Participant: 
 Number of Share Units: 

Date of Grant: 
 Share Unit Value at Date of Grant: 

Vesting Commencement Date: 
 Participant Address: 

1. Grant of Share Units. The Company hereby grants to the Participant the total number of Share Units set forth above (this
“Award”), subject to all of the terms and conditions of this Award Agreement and the Plan. 
 2. Definitions. As used
in this Award Agreement, the following terms shall have the meanings set forth below: 
 “Disabled” or
“Disability” shall have the same meaning as provided in the long-term disability plan or policy maintained by the Company or prior to a Triggering Event, Inland American Real Estate Trust, Inc. (“Inland REIT”),
whichever entity maintains such plan or policy and if both maintain such a plan or policy, then the plan or policy of the Company. If no such disability plan or policy is maintained by the Company or Inland REIT, such term shall mean the Participant
is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment, which can be expected to result in death or can be expected to last for a continuous period of not less than twelve
(12) months. If the Participant disputes the Company’s determination of Disability, the Participant (or his designated physician) and the Company (or its designated physician) shall jointly appoint a third party physician to examine the
Participant and determine whether the Participant is Disabled. 

 “Good Reason” shall have the meaning set forth under an applicable employment
agreement between the Participant and the Company or an Affiliate of the Company, provided that if no such definition is applicable, such term shall mean (i) a material diminution of the Participant’s base salary or annual target bonus
opportunity; (ii) a material reduction in the Participant’s authority, duties or responsibilities; provided, however, that dispositions or transfers of assets between the Company and one or more Affiliates (up to a maximum of fifty-four
(54) select service hotels) that are contemplated by the Board as of Effective Date shall not be considered a reduction in the Participant’s authority, duties or responsibility for purposes of this clause (ii); (iii) Participant being
required to relocate his principal place of employment with the Company or an Affiliate more than 50 miles from his principal place of employment as of immediately prior to a Change in Control, it being understood that any requirement that
Participant travel frequently and spend prolonged periods away from Participant’s principal residence shall not constitute Good Reason; or (iv) failure of any successor to the Company following a Change in Control to assume this Award
Agreement and the obligations hereunder. A termination of employment by the Participant shall not be deemed to be for Good Reason unless (A) Participant gives the Company written notice describing the event or events which are the basis for
such termination within sixty (60) days after the event or events occur, (B) such grounds for termination (if susceptible to correction) are not corrected by the Company within thirty (30) days of the Company’s receipt of such
notice (“Correction Period”), and (C) Participant terminates his employment no later than thirty (30) days following the Correction Period. 

3. Vesting of Share Units. Except for Share Units that vest pursuant to Sections 6(b) and 6(c) of this Award Agreement, each
Share Unit granted hereunder shall vest and be settled on the later to occur of (i) the date there first occurs a Triggering Event and (ii) the third anniversary of the Vesting Commencement Date (the “Vesting Date”);
provided that the Participant is employed with the Company through the Vesting Date; and provided further that in no event will the Share Units granted pursuant to this Award Agreement vest or be settled unless a Triggering Event occurs no later
than the fifth (5th) anniversary of the Vesting Commencement Date. 
 4. Form of
Payment. 
 (a) Change in Control. In the event that the first Triggering Event to occur is a Change in Control, upon the
applicable Vesting Date, the Participant shall be entitled to receive an amount in cash equal to the Fair Market Value of the Share Units subject to this Award determined as of the date of the Change in Control; provided, however, that if the
acquiring entity is a publicly traded company and the Share Units subject to this Award are converted into share units or other form of equity award of such acquiring entity at the time of the Change in Control, then the Share Units subject to this
Award will be settled in shares of the acquiring entity, in either case on the applicable Vesting Date. 
 (b) Qualified Event. In
the event that the first Triggering Event to occur is a Qualified Event, upon the applicable Vesting Date, the Participant shall be entitled to receive a number of Shares having an aggregate value on the applicable Vesting Date equal to the Fair
Market Value on the applicable Vesting Date of the Share Units subject to this Award. 

  
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 5. Restrictions on Transfer. None of the Share Units subject to this Award, or the
Participant’s rights with respect to such Share Units, shall be sold, assigned, transferred, pledged, hypothecated, given away or in any other manner disposed of, encumbered, whether voluntarily or involuntarily, or by operation of law or
otherwise (each such action a “Transfer”). Unless the Company determines otherwise, any attempted Transfer of the Share Units subject to this Award shall be null and void, and the Company shall not reflect on its records any change
in ownership of any Share Units as a result of any such Transfer, shall otherwise refuse to recognize any such Transfer and shall not in any way give effect to any such Transfer of any such Share Units. This Award of Share Units is personal to the
Participant, non-assignable and not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. 

6. Termination of Employment Services. 

(a) Termination of Employment For Cause. In the event the Participant’s employment with the Company and its Subsidiaries is
terminated for Cause all of the Participant’s Share Units that are unvested as of the date of such termination shall be forfeited as of such date. 

(b) Termination of Employment On Account of Death or Disability. If the Participant’s employment is terminated on account of death
or Disability, with respect to all of the Participant’s Share Units that are unvested as of the date of such termination, then if a Triggering Event has (i) occurred prior to the date of such termination, upon such termination Participant
shall be entitled to receive an amount in cash equal to the Fair Market Value of the Share Units subject to this Award, as determined as of the date of such termination or (ii) not occurred prior to the date of such termination, upon the
occurrence of a Triggering Event, Participant shall be entitled to receive an amount in cash equal to the Fair Market Value of Share Units subject to this Award on the date of such Triggering Event. 

(c) Termination of Employment by Participant For Good Reason or by the Company Without Cause following a Triggering Event. Except as
may otherwise be provided under the terms of an applicable employment agreement between the Participant and the Company or an Affiliate of the Company and subject to any additional terms of such employment agreement, upon termination of the
Participant’s employment by Participant for Good Reason or by the Company without Cause, in either case, following the occurrence of a Triggering Event, any Share Units that are unvested as of the date of such termination shall vest immediately
as of such termination date. 
 (d) Termination of Employment For Any Other Reason. Unless otherwise provided in an applicable
employment agreement between the Participant and the Company or any Affiliate of the Company, if the Participant’s employment terminates for any reason other than the reasons enumerated in paragraphs (a) through (c) above, any Share
Units that are unvested as of the date of Participant’s termination of employment shall be forfeited effective as of the date of such termination. 

  
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 7. No Shareholder Rights Prior to Vesting; Dividend Equivalents. The Participant shall
have no rights of a stockholder unless and until Shares are issued to the Participant pursuant to the terms of this Award Agreement. Notwithstanding the foregoing, after the occurrence of a Qualified Event, the Share Units subject to this Award
shall be entitled to accrue dividend equivalents until the settlement date of the Share Units. As of each dividend date with respect to shares of common stock of the Company (“Common Stock”), a dollar amount shall accrue to the
Participant equal to the amount of the dividend that would have been paid on the number of shares of Common Stock that would have been held by the Participant as of the close of business on the record date for such dividend had such Share Units been
converted on such date into the number of whole and fractional shares of Common Stock that could have been purchased at the closing price on the dividend payment date for an amount equal to the Fair Market Value of such Share Units. In the case of
any dividend declared on shares of Common Stock that is payable in shares of Common Stock, the Participant will be credited with an additional number of Share Units equal to the number having a Fair Market Value equal to the Fair Market Value of the
shares of Common Stock (including any fraction thereof) that would have been distributable to the Participant as a dividend had his Share Units been converted into the number of whole and fractional shares of Common Stock that could have been
purchased at the closing price on the dividend payment date for an amount equal to the Fair Market Value of such Share Units. No dividend equivalents shall be paid out to the Participant unless and until the Share Units to which the dividend
equivalents relate have become vested and settled. 
 8. Conflicts with Award Plan or Employment Agreements. This Award and the terms
of this Award Agreement are made pursuant to all of the provisions of the Plan, which is incorporated herein by this reference, and is intended, and shall be interpreted in a manner, to comply therewith. In the event of any conflict between the
provisions of this Award Agreement and the provisions of the Plan, the provisions of the Plan shall govern. In the event of any conflict between the provisions of this Award Agreement and the provisions of Participant’s employment agreement
with the Company, if any, the provisions of such employment agreement shall govern; provided, however, for the avoidance of doubt, Section 6(b) hereof is specifically deemed not to be in conflict with the provisions of any
Participant’s employment agreement and shall apply to all Participants with employment agreements with the Company. 
 9. Participant
Covenants. By accepting this Award Participant acknowledges and agrees (i) to the covenants contained in Section 9 of this Award Agreement and that this Award, as well as Participant’s employment, is sufficient compensation
for such covenants and (ii) that the covenants contained in Section 9 of this Award Agreement are in addition to, and not in replacement of, any other agreements between Participant and Company or its affiliates that contain
covenants with respect to confidentiality or confidential information. For purposes of this Section 9, “Company” means the Company and its subsidiaries, parent companies and affiliated companies. 

  
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 (a) Nondisclosure of Confidential Information. “Confidential
Information” means data and information relating to the business of the Company, which is disclosed to or created by Participant, or of which Participant becomes aware as a consequence of Participant’s relationship with the Company,
that has value to the Company and is not generally known to competitors of the Company. Subject to the foregoing, Confidential Information includes, but is not limited to, business development, marketing and sales programs, customer, potential
customer and supplier/vendor information, customer lists, employee information, marketing strategies, Company financial results, information related to mergers and acquisitions, pricing information, personnel information, financial data, regulatory
approval strategies, investigative records, research, marketing strategy, testing methodologies and results, computer programs, programs and protocols, and related items used by the Company in its business, whether contained in written form,
computerized records, models, prototypes or any other format, and any and all information obtained in writing, orally or visually during visits to offices of the Company. Confidential Information shall not include any information that (A) is or
becomes generally available to the public other than as a result of an unauthorized disclosure, (B) has been independently developed and disclosed by others without violating this Award Agreement, or (C) otherwise enters the public domain
through lawful means. Participant acknowledges that he will continue to receive and develop Confidential Information of the Company as a necessary part of Participant’s job. Participant agrees that while employed by the Company, Participant
will continue to benefit and add to the Company goodwill with its clients and in the marketplace generally. Participant further agrees that loss of such clients will cause the Company significant and irreparable harm and that the restrictions on
Participant’s use of such Confidential Information are reasonable and necessary to protect the Company’s legitimate business interests in its Confidential Information. Accordingly, Participant will not at any time during Participant’s
employment by the Company, and for so long thereafter as the pertinent information or documentation constitutes Confidential Information as defined above, use or disclose to others any Confidential Information, except as specifically authorized in a
signed writing by the Company or in the performance of work assigned to Participant by the Company. The covenants made by Participant herein are in addition to, and not exclusive of, any and all other rights to which the Company is entitled under
federal and state law, including, but not limited to, rights provided under copyright and trade secret laws, and laws concerning fiduciary duties. Participant hereby agrees not to disclose, copy, or remove from the premises of the Company any
documents, records, tapes or other media or format that contain or may contain Confidential Information, except as required by the nature of Participant’s duties for the Company. 

(b) Return of Company Property. Promptly following the termination of Participant’s employment for any reason, or at any time at
the request of the Company, Participant will return to Company all Confidential Information, physical property of the Company and any information relating to the clients or customers of the Company that Participant may possess or have under his
control, together with all copies thereof, including but not limited to company hardware, records, memoranda, notes, plans, reports, computer tapes, software and other documents and data containing confidential information. 

  
 5 

 (c) Nonsolicitation and Noninterference. During Participant’s employment and for 3
years following termination of Participant’s employment for any reason or no reason by either the Company or Participant, Participant will not, directly or indirectly (i) recruit, hire, retain or attempt to recruit, hire or retain, any
then-current employee or independent contractor of the Company or any former employee who was employed by the Company within the prior six (6) months, for employment or engagement with an entity other than the Company or (ii) entice or
attempt to persuade the Company’s then-current employee or independent contractor to leave employment or engagement with the Company. 

(d) Nondisparagement. Participant shall not make, and the Company shall instruct each member of the Board and each executive officer of
Inland REIT and the Company not to make, or cause to be made, during Participant’s employment and at all times thereafter, any statement or communicate any information (whether oral or written) that disparages the Company or Participant,
respectively, including, with respect to Participant’s obligations, the Company’s subsidiaries or parent companies or any of their respective officers, directors, board members, investors, shareholders, agents or employees. 

(e) Reasonableness. Participant acknowledges that the provisions contained in this Section 9 are reasonable and necessary
to protect the Company’s interests in its good will, business relationships, and confidential information and that the Company will suffer substantial harm if Participant engages in any of the prohibited activities. Participant warrants that no
provision of this Section 9 will work to prevent Participant from earning a living. 
 (f) Enforcement. It is the desire
and intent of the parties hereto that the provisions of Section 9 of this Award Agreement be construed independently of one another to the fullest extent permissible under the laws and public policies applied in each jurisdiction in
which enforcement is sought. Each restriction contained in this Section 9 is intended to be severable, and the unenforceability of any such provision shall not affect the enforceability of any other provision of Section 9.
The Company shall be entitled to all rights and remedies as set forth in this Section 9 until the expiration of the covenants contained herein in accordance with their terms. The parties agree and acknowledge that damages will be
difficult, if not impossible, to calculate in the event of a breach, or threatened breach, of any of the provisions of this Section 9 and, in any event, damages will be an insufficient remedy in the event of such breach. Accordingly, the
parties agree that the Company shall, in addition to all other remedies, be entitled to injunctive relief in the event of any breach of the provisions of this Section 9. 

  
 6 

 10. Arbitration. 

(a) The Company and Participant mutually consent to the resolution by final and binding arbitration of any and all disputes, controversies or
claims related in any way to this Award or otherwise to Participant’s relationship with the Company and its parents and affiliates, including, but not limited to, any dispute, controversy or claim of alleged discrimination, harassment or
retaliation (including, but not limited to, claims based on race, sex, sexual preference, religion, national origin, age, marital or family status, medical condition, handicap or disability); any dispute, controversy or claim arising out of or
relating to this Award Agreement or the breach of this Award Agreement; and any dispute as to the arbitrability of a matter under this Award Agreement (collectively, “Claims”); provided, however, that nothing in this Award Agreement
shall require arbitration of any Claims which, by law, cannot be the subject of a compulsory arbitration agreement. 
 (b) All Claims shall
be resolved exclusively by arbitration administered by JAMS under its Employment Arbitration Rules and Procedures then in effect (the “JAMS Rules”). Notwithstanding the foregoing, the Company and Participant shall have the right to
(i) seek a restraining order or other injunctive or equitable relief or order in aid of arbitration or to compel arbitration, from a court of competent jurisdiction, or (ii) interim injunctive or equitable relief from the arbitrator
pursuant to the JAMS Rules, in each case to prevent any violation of this Award Agreement or any other agreement between the Company and Participant. The Company and Participant must notify the other party in writing of a request to arbitrate any
Claims within the same statute of limitations period applicable to such Claims. 
 (c) Prior to a Triggering Event, any arbitration
proceeding brought under this Award Agreement shall be conducted before one arbitrator in DuPage County, Illinois, or such other location to which the parties mutually agree. After the occurrence of a Triggering Event, any arbitration proceeding
brought under this Award Agreement shall be conducted before one arbitrator in Orlando, Florida, or such other location to which the parties mutually agree. The arbitrator shall be selected in accordance with the JAMS Rules, provided that the
arbitrator shall be an attorney with significant experience in employment matters. Each party to any dispute shall pay its own expenses, including attorneys’ fees; provided, however, that the Company shall pay all costs and fees that
Participant would not otherwise have been subject to paying if the claim had been resolved in a court of law and, to the extent required by applicable law for this arbitration provision to be enforceable, the Company shall reimburse Participant for
any reasonable travel expenses incurred by Participant in connection with Participant’s travel to Illinois or Florida, as the case may be, for any arbitration proceedings. The arbitrator will be empowered to award either party any remedy at law
or in equity that the party would otherwise have been entitled to had the matter been litigated in court, including, but not limited to, general, special and punitive damages, injunctive relief, costs and attorney fees; provided, however, that the
authority to award any remedy is subject to whatever limitations, if any, exist in the applicable law on such remedies. The arbitrator shall issue a decision or award in writing, stating the essential findings of fact and conclusions of law, and the
arbitrators shall be required to follow the laws of the State of Delaware consistent with Section 14 of this Award Agreement. 

  
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 (d) Any judgment on or enforcement of any award, including an award providing for interim or
permanent injunctive relief, rendered by the arbitrator may be entered, enforced or appealed in any court having jurisdiction thereof. Any arbitration proceedings, decision or award rendered hereunder, and the validity, effect and interpretation of
this arbitration provision, shall be governed by the Federal Arbitration Act, 9 U.S.C. § 1 et seq. 
 (e) It is part of the essence of
this Award Agreement that any Claims hereunder shall be resolved expeditiously and as confidentially as possible. Accordingly, the Company and Participant agree that all proceedings in any arbitration shall be conducted under seal and kept strictly
confidential. In that regard, no party shall use, disclose or permit the disclosure of any information, evidence or documents produced by any other party in the arbitration proceedings or about the existence, contents or results of the proceedings
except as necessary and appropriate for the preparation and conduct of the arbitration proceedings, or as may be required by any legal process, or as required in an action in aid of arbitration or for enforcement of or appeal from an arbitral award.
Before making any disclosure permitted by the preceding sentence, the party intending to make such disclosure shall give the other party reasonable written notice of the intended disclosure and afford such other party a reasonable opportunity to
protect its interests. 
 11. No Rights to Continuation of Employment. Nothing in the Plan or this Award Agreement shall confer upon
the Participant any right to continue in the employ of the Company or any Subsidiary thereof or shall interfere with or restrict the right of the Company or its shareholders (or of a Subsidiary or its shareholders, as the case may be) to terminate
the Participant’s employment at any time for any reason whatsoever, with or without Cause. 
 12. Tax Withholding. The
Participant may be required to pay to the Company or any Subsidiary, and the Company or any Subsidiary shall have the right and is hereby authorized to withhold from any payment due or transfer made under this Award or under the Plan or from any
compensation or other amount owing to the Participant the amount (in cash, securities, or other property) of, any applicable withholding taxes in respect of this Award or any payment pursuant to this Award and to take such other action as may be
necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes. 
 13. Section 409A. It is the
intent of the parties that this Award comply with, or be exempt from, Section 409A of the Code and, accordingly, to the maximum extent permitted, this Award, and the terms of this Award Agreement, shall be interpreted and administered
consistent with such intent. Notwithstanding anything contained in this Award Agreement to the contrary, to the extent required to avoid accelerated taxation or tax penalties under Section 409A of the Code, the Participant shall not be
considered to have terminated employment for purposes of this Award to the extent the Award becomes payable upon the Participant’s termination of employment until the Participant would be considered to have incurred a “separation from
service” from the Company within the meaning of Section 409A of the Code. In addition, each amount to be paid or benefit to be provided to the Participant pursuant to an Award shall be construed as a separate identified payment for
purposes of Section 409A of the Code and any payments 

  
 8 

 
that are due within the “short term deferral period” as defined in Section 409A of the Code shall not be treated as deferred compensation unless applicable law requires otherwise.
Notwithstanding anything contained herein to the contrary, if the Participant is a “specified employee,” as defined in Section 409A of the Code, as of the date of the Participant’s separation from service, then to the extent any
Award, or payment therefor (i) constitutes the payment of nonqualified deferred compensation, within the meaning of Section 409A of the Code, (ii) is payable upon the Participant’s separation from service and (iii) under the
terms of this Award Agreement would be payable prior to the six-month anniversary of the Participant’s separation from service, settlement of such Award or the payment therefor shall be delayed until the earlier to occur of (A) the
six-month anniversary of the separation from service or (B) the date of the Participant’s death. 
 14. Governing Law. This
Award Agreement shall be governed by, interpreted under, and construed and enforced in accordance with the internal laws, and not the laws pertaining to conflicts or choices of laws, of the State of Delaware applicable to agreements made and to be
performed wholly within the State of Delaware. 
 15. Binding on Successors. The terms of this Award Agreement shall be binding upon
the Participant and upon the Participant’s heirs, executors, administrators, personal representatives, transferees, assignees and successors in interest, and upon the Company and its successors and assignees, subject to the terms of the Plan.

 16. No Assignment. Notwithstanding anything to the contrary in this Award Agreement or the Plan, neither this Award Agreement nor
any rights granted herein shall be assignable by the Participant. 
 17. Necessary Acts. The Participant hereby agrees to perform all
acts, and to execute and deliver any documents that may be reasonably necessary to carry out the provisions of this Award Agreement, including but not limited to all acts and documents related to compliance with federal and/or state securities
and/or tax laws. 
 18. Headings. Headings are used solely for the convenience of the parties and shall not be deemed to be a
limitation upon or descriptive of the contents of any such Section. 
 19. Counterparts. This Award Agreement may be executed in any
number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. 

20. Notices. All notices and other communications under this Award Agreement shall be in writing and shall be given by first class mail,
certified or registered with return receipt requested, and shall be deemed to have been duly given three days after mailing to the respective parties named below: 

 

			
	If to Company:	  	Scott Wilton
		  	Executive Vice President – Secretary and General
		  	Counsel, Inland American Real Estate Trust, Inc.
		  	2809 Butterfield Road
		  	Oak Brook, IL 60523
		
	If to the Participant:	  	At the Participant Address set forth above.

  
 9 

 Either party hereto may change such party’s address for notices by notice duly given
pursuant hereto. 
 21. Acceptance. The Participant hereby acknowledges receipt of a copy of the Plan and this Award Agreement. The
Participant has read and understands the terms and provisions thereof, and accepts the Share Units subject to all the terms and conditions of the Plan and this Award Agreement. 

[SIGNATURE PAGE FOLLOWS] 

  
 10 

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

 XENIA HOTELS & RESORTS, INC. 
  

			
	By	 	 
	 Name:
	 	
	 Title:
	 	

 PARTICIPANT 
  

			
	Signature	 	 
	 Print Name:
	 	

  
 11

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